Charlty re815tTrtivn number 1164654 INSTITUTE FOR RESEARCH IN SCHOOLS ANNUAL REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENOED 31 AUGUST 2025
INsfiTUTE FOR RE5EAR(&I IN SCHOOLS LEGAL AND ADMINISTRATPIE INFORMAnoN Trustees Tlmothy Edward5 Ichairl Humphrey Battcock CBE Ann Mroi Rev Professor Mlchael Relss Dam• Madel8lné Atklns JS11 Davies ITe5igned December 20251 Slrnon Lebus CBE lappolntsd February 20261 Colln Bashford lappolhted February 20261 Charlty number 1164654 Company numb•r CE005767 Audltor Affinla IOrplnKtonl Lynwood House Crofton Road Orplniton K•nt R6 8QE Soll¢ltor$ W•ll, Gotshal & Manses LLP 110 F•tt•r Lin• London EC4A IAV
INTuTE FOR RESEARCH IN SCHOOLS Tru5tees' r•port Statement of Trust••s' rnsponsibiliti05 Indep•nd•nt •udltor's rnport 8-10 Statsm•nt offinan¢hl •thM•s li stst•m•nt of flnanelal posltlon 12 stat•m•nt of c45h flows 13 Notss to the financtsl 5ttsmnts 14-25
INSTrTufE FOR RESEAR(>I IN SCHOOLS TRU5fEES' REPORT FOR THE YEAR ENDED 31 AUGUST2025 The Trust••s prsent their annual report and financial 5tstements for th• yèarended 31 AuSt 2025. The financlal statènnts have been ppared in accordance with the accounfjng policl•s s•t out In note i to the financial ststeménts and comply with th• charity'5 governing document, thè Charities Act 2011 and "Accounting and Reportin8 by Charities.. Statement of Recomm•nded Prathce appllcable to charttle5 preparlnR their accounts In accordance with the Flnanclal RÈportin8 Standard applicable In the UK and RepublSc of Ireland (Frs 1021" leff•ctlv• l January 20191. Oblortlves and actlvltles IRIS aims to changa th• culture of UK educatlon so that every young person can take part in authen¢ mse4h nd innovatlon whlle at school. IRIS. impact from Sèptember 1" 2024- August 31" 2025 year Ss s•t out In our Annual Impact A•port whlth can be viewed here Iiy
INlTuTE FOR RESEARCH IN SCHOOLS TRusfEES' REPORT IcoNnNUEoI FOR THE YEAR ENDED31 AUGUST2025 Achlevements and pertormance Significont uctivitles und achievements OPÉiinst obje¢tives rm Inst our sirateglc Prlorlty Key Perfomiance Indlcator Outcom• as of 31st August 2025 Annual ObSectlve$ Student enga8ement 1500 student5 taklng part a project. w5th ot least 90% attendlng stste schools. 1809 studénts haw taken part an IRIS research proleet wfth 86% of studènts att•ndin8 a stste school. Number At least 100 acVe 5choo15 whlch are broadly representaV• of type5 of schools across the UK. By Juty 2025 this will Sncludè a state funded School In Wales and a special provision school. 93 scheols Including schoo15 In England. Scotland, Wale5. and Northern Ireland. Wtr falled to sucrRed Sn supportln8 a special provlsiorn school to the polnt of research project completion. We contlnuo to work on this. We are also looklng at the number of SEN students we support In malnstream educats'on. of School$ etentton Achl•vo a school ratantyon rate of at least 75% by july 2025. 76% retentlon rate Ischoo15 have ctsnttnu•d to work with IRIS thi5 ytarwho have worked wlth us over the previous three years, and an Increaslng numbèr of schools are doing their own STEM research, Ind•pendent of IRIS). Conferenc• actlvltv 180 artefads submltted and pr•s•nt•d at confereno. A total of 261 artèfacts were submlttgd to conferènce- 243 posters and 18 prés•ntadon5. At least 450 students to attend IRIS student conferences In June 2025. 694 student5 attended the IRIS student res•arch confer•nces In June 2025. Orl8lnal resear¢h At least 300 students carrylnK out Orlglnal Research in the academSc year Septemb•r 2024 to August 2025. 321 students carrfjed out Orlglnal Research In the academic year September 2024 to AuBLL5t 2025. Publlcations The publication of one student research paFEr in an academlc journal or similar. I papers publlshed Involvlng the research of over 30 Students from 5 schools.
INSTITUTE FOR RESEARCH IN SCHOOLS TRusfEES' REPORT ICONTINUEOI FOR THE YEAR ENDED31 AUGUST2025 Longer Term Objectlves Collaboral8 wilh partne15 10 IRIS viorks collaboratlvely i'iilh a wide range 01 maxlniise oui impact partners lo plan and delivei hlgh-4uality research opportunllles in schools. Thèsè partnershipy slrBngthen our reach and amplifv thè impact of our bvork Vle also champion the iirporlance ol real iesearch in educalbon by shaf5ng learning. resotjcces and opportunities acros5 our nètv,'orks Bnd with k&y stakeholder5 Publish. promote and last tha u88 Th8 IRIS Res9aich & Innovation Fraiiiei'iork. 01 Ihe flesearch & Innovation published in Iwlay 2022. pi'ovides a strLicluied Frameviork in schools. approach 10 embedding authentic research experiences in school 58ltings. A natlonal pilot Involvin9 aroiind 2,500 studfrnls concluded in N1arch 2024. and the Dulcomes have bèèn Independently èvalLsgled. The gvalvalion report was laLinched in June 2025 and Pfol'ides clear ei'idenco ol the Iiame¥vork's i'alLie In supportiny sludonl eiigagemenl. sklll diielopinenl and pro9re55iOn i?'e aig currently seeking fundiiig and partnership for the scallng up ol thi3 progranin)g IRIS 15 cornniStted lo under51anding and e% ideiiciiig thè impact of researcli exp¢iience5 on young people. b418 publlsh annual1inpoct Reporls and share Ihem lde11 across ihe '1 e also use Ihe Higher Education Acce9s Tracker (HEATI lo support long-l¥¥ii) tracking ol sludenl prog¢ession and Inipacl Embeddlng culiure of reseaich & Innovation Measure r8su118 Measure. reeord and share the Iinpact ol research in schools. Plans for fvture perlodi Our flve-y•ar strate8y Il" Sept 2024. AuKu5t 31" 20291 is focused on th•s• four areas. Research PTojects- Provlde iran5formadv• opportunltl¢s for ycuThi people to take part In r•sèarch in xhools Research aThd innovation- Emkd a culture of researth and innovatton In UK schools Collaborate- work wlth others to maxlmise Impact Measure results- Damonstrate the Impact of research and Innovation in Schools
INSTITUTE FOR RESEARCH IN SCHOOLS TRUSfEES' REPORT {CONTINUEDI FOR THE Y£4R ENDED31 AUGUST2025 Statement on compSlèn¢e wlth Charlty Commisslon Ruldgnce on publlc benefit When deciding on a¢vItI@5 and ev•nts, the Trustees pay due re8ard to the Charity Commission's gLldance on public beneflt. IRIS provid•s dlrect support to teachers and 5chcrl aders. and opportunIeS for students to partlclpate In outhentlc reSeah IRIS provides hlghquality materia15 and onllne materia15 for 5tud¢nts and tsache IRIS fatllitates the developmènt of a cultur¢ of research and Innovatton In schools IRIS evaluates our work through both Sntsrnal and external evaluatitin athVIs. U$e of Volunteers IAIS does not volunteers to fa¢llStst• Its work, beyond partnershlp work with organisatlons sh as unlversMe5 and Industry. Fundrnlsln8 In the flnanclal perlod 111 S•pt•mber 2024 to 3111 Au8USt 2025 IRIS s•¢ur•d th• followin8 fundi.. £1.420,000 Battcock Charltabl• Trust- unrestrfcted lundlni In support ol the development and dellvery of thè work of IRIS £841 Sclenct and Teehnolryy FacIlie$ Councll to support a m•stercl)s5 at the Rutherford Appleton Laboratory for studants workin8 on the ATLAS studant research prolect. Flnanclol revlew Incorne for the artOtall*d £1.429,440 of which £900 was related to grdnts and project fundlng. Exp•ndlture for th• y•ar was wlthin budgèt. Exp•ndlture 5ntrÈas•d to £1,443,661. Thls Included 4hn incre45e ovar the period on salarie5 as IR15 contlnued to bulld thè team to meet 5trnté8it obj8ctfves and r•swThd to demand. IRIS •nded the finanelal rIOd wlth £758,442 of unrestrlct•d funds avallabl•. 2024,'25 2023,'24 2022,'23' 202122 2020:'21 Expendrture on Charitable Activities Idel Funds at ear end £1449443 f.1 354.656 .1.483.079 £722.000 f431.000 £758 442 £772.6 £547 537 £294 000 f.276 000 * 2022123 was a 17 month perK)d Income arise5 from donation5, grants and Interest. Reserves pollcv TheTrustee5 have approved a R•serv•5 Pollcy whith sèeks to maSntain reservas, or unrestricted fund5, of at least 3 months, expenditure, and thls has been achievèd for both 2025 and 2024.
INSTITUTE FOR RESEARCH IN SCHOOLS TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR EPIDED31 AU6UST2025 How we ensure our budget all8ns wth our charltablè objettives In 2024125 IRIS. prfncipal 50Ltrce of income h?5 teen the Battcock CharttèblèTrust. We hdd an annual Strategy Day at the start of the year at which tha Senior Leadership tram prèsènts and develops strnt88y plans for SCTUtlny and approval by the Trustees. The Senlor LÈadership Team th•n produce OpéraOnal plans that align wlth the 5tTrtegy. and the budget Is set and approved by the Trustees. The Trustees revlew the dellvery of the opèraUonJl plan5 and the assoclatsd budBet with the Dlrector and the S•nlor Leader5hlp Team at each Trustees metnI. Rlsk factors and revlew Trustees malntaln an Up-tdate risk register to 8Ltide their strate(Ic and op•rational dec151on-maklng for IRIS. Thav 3150 apply MI$ation stratezl•s for r15ks as approprlat•. Prln¢lpal rlsks Ensurln8 thè safety of the ygun6 people we work wtth Is a top prlor5ty for IRIS. To mo8ate ri5k4 we follow uide15n?s In K•8plng Children Safe In EdUCaOn IKCSIEI and conduct regular 5afeguardlng trainlnl for staff and tru5t••s. IRIS has also id•ntlfied a risk in retylng prlmarlly on the 8attcock Charltable Trust to fund Itswork. We are pursulni opportunlties for lon8.term diV•r51flcaQn of fundlng and 5¢ekln8 Partners and fundèrs to Krow ind promote thelr work over the next flve years. Structure. governance and mano8ement Nature of governlng document and how th• charlty Is constltuted The Instlt¢Jtè for Research In Sthocsls IIRISI 15 a r*gistered charity Ino. 11646541 and Charltable Incorpornt•d Or8an5satlon g¢)Vtrned by a constltution dated I" Septembor 2015. 058tonal Jtrurtu IRIS 15 Koverned by a Board of Trustees and has aplted a Senlor Leadership Team. The Trust•ts shape and agree on the 5trateey and budget •ath year and th• Senior Leadershlp Team d•v•lops and Implements an operatlonal plan to achieve th• aims of the or6an15allon, re8uSarly r•poTYn£ ck to the Board of Trustees on pro8re55. Recrnltmont and appolntment of trustees and dlrertors. Interests At thé end of August 2025, IRIS ha5 a soard of 6 Truste•s, Truste•s are appolntéd, aftèr a r•crultm•nt proce55 based Dn a conslderation of the qualitles. experknse and experlence nèedèd by the Board. Thé Board of Trust••s has the pow•r to appolnt additional Trustees as it sees fit. Inductlon and tralnlng of trustee5 Trustees joining IRIS are sublect to a D8S check and then undergo an InducOn. Th• procèdure for the Induction and tralning of new Trustses varles according to indlvldual neèds and familiartty wlth the charity, but normally include5 the provision of a dètailed infgrmation pack, safeguarding trainlng and one or more meeUng5 With senior staff andlor other Trustees to provide further brieftngs. The induction Includes Information on the governance gf the orgènisation, the most Cent Financial Report, and the mlnutes of the previou5 Trustee Meeting, as wèll as an outline of the expectatlons of Trustees.
INSTITUTE FOR RESEARCH Ihl SCHOOLS TrUSTEES' REP(IRT ICONnNUEDI FOR THE YEAR ENDED31 AUGU5T2025 Relattonshlpwith the wlder network and reloted partles IRIS15 well-linked wlth other organisafjon5 In th• STEM and education landscape. IRI¥ leadershlp of the STEM Collabordtion Group has to a stron8 collects've volce for change callin8 for an update to the curriculum making It more relevBnt foryoung people. Our work on the Res•arch & Innovatlon Framework has led to strong lationships belng bu1 with other organlsadons such as STEM Leaming. the Assoclation of Science Educatlon. the British Sclence Association artd the Royal society of Chem15try. Work on our Research Projects In the past year has led to partnerships with UKRI, the STFC, the james Webb Space Telescope, UK Space. Tha UnNer51ty of Leed5. the Brmsh ScSence A550clation. the Royal Mlcroscopical Society, ZeroAv5a. the Natural History Museum, thè University of Oxford and P8mbroke College at the University of Oxford, the Céntre for Polar Ob5ervatton and Modelling. Ruthorford Appletort Laboratoryi Game RaDIe Int•rnattonal and the David Sh•pherd Wlldllfe Foundatfon. IR1515 8rateful forth• condnu•d 5UPPOrt of tht Battcock Charitable TrusL The TrLtstee5' report was approvad by the Board ofTruste•s. Tlmothy Edwards (Cha Trustee Dat•..
INSTITUTE FOR RESEARCH IN SCHOOLS STATEME1 OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST2025 The Trustees are re5panslble for preparing the TfUStees' Report and the financial ststem•nts in accordance wlth appllcable low and United Kingdom Accounting Stsndards (United Kingdom GeneE311y Acceptsd Accounll Practlcel. Thg law applKabl• to charltles Sn England and Wal05 rèqulre5 the Trustees to prepare financial ststttments for each financSal year which glv• a true and fair view of the 5tsts of affairs of the charlty and of the Ino)mlng resources and appllcadon of resourc•5 of th• charlty for that year. In preparln8 these financlal ststements, the Truste•s are required to: - select sultabl• accountinq polkles and th•n apply them conslst•ntlv,' - observe the methods and prtnclples In the Charldes SORP.. - mak•ludièments and qsdmates that are reasonable and prud•nt,' - State whether appllcable arcountlng 5t4ndards hav• been followed, subl•ct to any materSal d•pIr¢S d15clos•d Ind eKplalned in the Inancial stat•m•nts,' and - prepare the flnanclal 5tat¢ments on th• ioln8 Concern ba51s unl•ss Is InappToprlit• to pmsume that th• charlty w511 condnu• In operadon. The Trustees are r•sponslbl¢ for keepfng suffielént accounfjn8 records thot disclos• w5th raasonable accuracy at any ttmt the flThancSal posltton of the charlty and enable thern to ensur• that the flnancial statemants comply with th• Charlttes Act 2011, the Charlty IA¢co¢Jnt5 and R8POrtsl Regulattons 2008 and the prov151ons of th• trust deed. They are a150 r•sponslbl* for safe4uardln¥ the a5Sats of the charlty and Tr¢e for taklng r•a50nable step5 for th• pr¢v¢ndon and det•ctlon of fraud and oth•r irr•gularthe5,
INsnTIJTE FOR RESEARCH IN SCHOOLS INDEPENDENT AUDITOR'S REPORT TO THE TRU5tEES OF INSTITUTE FOR RESEARCH IN SCHOOL5 Oplnlon We audited the financial 5tstement5 of In5tltute for ReseaY¢h in Schools Ithe'charity'l for the year ended 31 August 2025 which cornprise the statemènt of Ilnancial activities, the statement of financial position, th ststement of ta5h flows and notes to the financial statements, including 51gnSficant accounting poli¢ies. Th financial reparn8 framework that has been applled In the5r Preparaon Is appllcable and United Kin8dom Ac¢ounfjng stsndards. including Financial Reporting Stsndard 102 Tl7e Flnt7nclal Reporting Standard qpplicoble In the UK und Republic of Ireland Iunlted Klngdom Generally Accepted Accountin6 prac¢1. In our opinlon, the financial statements.. give a tru£ and lalr vl•w of the state of the charitV'5 affalr5 as at 31 August 2025 and of It5 lTrcomln¥ resources and applicaOn of resources. for thè yoar thèn •nd•d- have been proparly prepared In accordance wilh United Klngdom G•nrally Aec•pt•d Accounting Practice,. and have béèn prep8r8d in accordance wr<h the requirements of the Charttles Act 2011. Basls for oplnloft We conducted our audlt In accordante wlth InternaOnal Standards on Audldng IUKI IISAS IUKII and appllcable law. Our respons5bilitie5 under those stsndards are further de5crSb¢d in the Audltor's rtsponslbllitrfesfor the t7udlt of theflnoncitsl stotements section of our repgrt. We are Independent of the charlty In accordarre wlth the ethieal requlrtments that are relevant to our audit af tha flnanclal statements in the UK, Includin8 the FRC5 Ethical Standard, and we havo fulflll•d our other ethical respon51bilitle5 In accordance with these requirennt5. We belSeve that the audit •vld•nce w8 hav• obtalned 15 sufficl•nt and appropr5at* to provld• a basis for our opinion. Concluslons relatlnl to RolnR conurn In audidn8 the financial statement5. we hav• coneluded that the Trust•es' use of the loini concem basls of accountlnl In th• preparatlon of tho financial statsm•nts Is approprlil•. Based on th• work we have performed, we have not Idendfled any material unc8rtalntl8s relan& to èv•nts or condidons that, IndSvldu4lly or collèctlvely, may cast $58nlficant doubt on thè eharlty's abllity to condnue as a Rolng Concern for a period of at least twelve months from when the flnancial 5tatom8nts are authorlsed for Issue. Our responslbllltles and the responslbillttès of th• ThJst•es wh respecl to 8olni con¢ern ar• descrlb•d In the relevant 5ecttons of thi5 report. Other Informatlon The other informatton comprS$•s the infoTmatloD included In the annual report other than the flnanclal statements and our auditor's report thereon, The Trustee5 ar• responsible for the other informatlon contalned within the annual report. Our opinion on the financlal stst•ments does not cover the other information and we do not express any fgrm of a5sufdnce concluslon thgreon. Our responsibility is to read the other Inforftption and, in doln8 so, consédèr whethèr the other Information 15 materially inconsistent wlth the flnanclal statements or our knowledge obtalnÈd In the course of the audit, or otherwise appears to be materially mSs5tsted. If s%e identlfy such materlal Inconslstencies or appatsht material mlsststements, we are required to detsrmlne whether this give5 rise to a material mi5ststement In the flnanclal ststements themselves. If, basèd on the work we have p•rformed, we conclude that there is a material misstatement of this other Snformadon, we are required to rèpon that fart. We have nothlng to rert in thi5 regard.
INsfETUTE FOR RESEARCH IPI SCHOOLS INOEPENDENT AUDITOR'S REPORT IcoMllNUEDI TO THE TRUfEES OF INsfiTUTE FOR RESEARCH IN SCHOOLS Matters on whlth we are requlred to report by exception We have nothing to report in rasptct of the following matters In relatlon to whlch the Charities (Accounts and Reports) RgKulations 2008 require us to report to you if, in our oplnlon.. the infOrmaOn 8iv•n Sn th• flnanclal 5tatement$ 5s Inconslstsnt In any materlal respert wlth the Trustees, r•port,' or sufficient accounting records hav• not been kept. or the frnancial ststement5 are not Sn agreement with the accountlng reeords,. or we have not r•celved all the Information and explanattons wè reqLblre for our a[lt. Ite5pon51bllltleg of Trustees As explalned mor• fully in the Statement of Trusteos, r•sponslbllltfés. the Trustses are r•5ponslbl• for the preparaOn of the financial statements and for bèlng saSfled that they 8lve a true and fa5r vlew, and for such Internal control H5 the Trustees determ5ne Ss nÉc•ssary to enable the pparatiOn of flnanclal 5tat?ment5 that are free from mat•rlal mlsstat•mènt, whèther due to fraud or error. In preparln8 the fi'nancial statement5, the Trustees are responsible for assèsslng the charity'5 abillty to ConnUt as a golnK ¢gn¢ern, d15closin8, as app1i¢èbl•, matters relatèd to Eolni concern and using the golng concern basls of accounting unless tht Trust••5 •lther int•nd to cease owrdtlons. or have no realistic alternattvè but te do so. Audltols responslbllltlesfor the audlt of the flnanclal st*ements WÈ have been appolnted as audltor undèr 5èctton 144 of the Charlttes Act 2011 and r•port In J¢cor&nc• wlth the Act and rtlévant reiulatlon5 made or havlng effect th¢rgunder. Our objectlve5 are to obtsln reasonable assurance about whether the flnanelal statements as a whob ar• fr•• from rnaterial misstatement, wh•th•r due to fraud or error, and to Issu• an audltor's report that Indudes our opinion. Reasonable assutsnte Is a hlgh level of assurance but 15 not a guarantee that an audlt ¢onthetsd In accordance wlth ISAS IUKI will always detect a materSal mSsstatem•nt whèn It exists. Mlsstatsm•nts tsn arlse from fraud or error and or8 consldered material If. Individually or in the aggre6at•, thèy touid rèasonaiqy be •Mpeded to Influerbce th• étonomlc dec151ons of users tsken on the basss of these financSal statemènts. Th• •xt•nt to which our procedur•s ar• c•pabl• of dètethnK IrguI•'•$, Includlno fr•ud, Is detsll•d below. Enqulry of manernent and th05• charyed with govèrnance around actual and potandal Iltron and Elaims. Enqulry of managemèntto Identlfy any Snstances of non-compllance wlth laws and r•gulattons. ReVIrng mlnutes of meettn¥s ofth05• charged with Kovernanco. Reviewing flnancial Statement disclosur•$ and tèsdng to 5upportin8 documentsOn to asses5 Mpl lance with applicable laws ènd regulations.Audlfjng the risk of management overrido Of Controls, including through tesfjn8 joumal èntries and other adjustments for appropriateness, and evaluatlng th• business onal• of signithcant transactions outslde thè normal course of buslness. Auditi n8 the risk of managemènt %)vèrr6de of cortrols, Includlng through testing journal entrie5 other adjustments for appropriatenes5, and evaluètlng the business ratlonale of signlficant transactions outsid• the normal co¢Jrse of bu51ne5S.
INSllTUTe FOR RESEARCH IN SCHOOLS INDEPENDE AUDITOR'S REPORT {CONTINUEDI TO THE TRUE5 OF INSTITUTE FOR RESEARCH IN SCHOOLS A further desCrIpOn of our responsibllltle5 is zvallable on the Financial Reporhng Council's web51t• at.. https.'l/ www.frc.org.uklaudit0rsre5ponslbllthas. Thls d•scription forms part of our audltor's rert. Other matters Your attention Is drnwn to the fact that the charlty has prepared financial ststements sn aecordanee with "Accounting and R•pordn8 by Charlttes.. Statement of R•commeThded Practice applicable tts charities pparIng thelr accounts in accordantè wh th• Flnancial Reporknng Standard appllcable in the UK and Republic of Irèland IFRS 1021" la5 amended) in preference to the Accounting and RÈpordn8 b¥ charle$.. Statement of Recomrnend•d Practice issued on l April 2005 which is referred to In the extant reguladons but ha5 now been wlthdrdwn. This ha5 been don• In order for th• flnanclal ststsments to provlde a true and falr vSew in accordance wlth current Generèlly Acc¢pted Ae¢ountln8 Practice. Use of our report Thi5 réport Is made solely to th? charfty's members, 15 ¥ body, In aecordanc• wh part 4 of the Charafjos IAccounts and Reportsl Regulattons 2008. Our audit work ha5 been undèrtak*n 50 that we might state to thè ¢harity's trustees those matttrs wa ar8 required to state to thèm in an auditor's report and for no other purpose. To the fullest ext•nt permltted by law, w• do not attept or assume respon51blllty to anyone other ttron the charltv and the ¢harlty's trustees a5 a body, for our tudlt work, for thés report, or for th• oplnSons we have foTm•d. Lou5se Hallsworth (Senlor Statutory Audltorl Afflnla IOrplnRtonl 9 April 2026 Chartered Attountants Statutory Audltor Lynwood House Crofton Road OrpinKton Kent BR6 8QE 10-
INSTITisfE FOR AESEARCH IN SCHOOLS ATEMENT OF FINANCIAL AcnvrnES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE VEAR ENDED31 AU6usf2025 Unrestrlcted Restrlcted funds fvnd$ 2025 2025 Total Unrestrictsd Restrfcted funds funds 2024 2024 Totsl 2025 2024 14otes Income from: Oonatfons and legacl•s Irsvestmont$ 1,420,841 8,599 1,420.841 8,599 1,523,052 14.803 1537,855 Total Income 1.429,È140 1.429,440 1,523,052 14,803 1.537,855 Expendlturè on.. Charitable actfvltl•s Other expendlture 1,443,074 218 369 1.443,443 218 1.331.818 22,838 1354,656 Totsl expendlture 1,443,292 359 1,443,661 1,331,818 22.838 1,354,656 Net Incom•/l•xpendltur•l 113,8521 13691 114,2211 191,234 18,0351 183,199 Transf•rs between funds 17731 773 Net movement In fund$ 113,8521 13691 114.2211 190,461 17,2621 183,199 Reconclllatfon of lunds., Fund balances at I Sept•mb•r 2024 771,878 785 772,663 581.417 8,047 589,4fj4 Fund b•lances at 31 Au8USt 2025 758,026 416 75B,442 771.878 785 772.663 The 5tat•m•nt of flnanclal a¢tlvlttos Includes all lalns and losses recognlsed In the Veèr. All Income and •XnditrO d¢rlve frorn condnu5ng aettvldes. 11
INSTITUTE FOR RESEARCH IN SCHOOLS STATEMENT OF FINANCIAL POSITION ASAT31 AU6UST2025 2025 2024 Notes Flxed •ssets Intan8ible assets Talble assets io li 3,892 14,691 13,203 13.203 18,583 Current assets Debtors Cash at bank and in hand 12 33,859 760,767 22.091 781,015 794,626 803,106 Credltors: amountsf•lllng due vlthln one vear 13 149,3871 149,0261 Net current assets 745,239 754,080 Totsl •Hels less current Ilabllltl•s 758,442 772,663 N•t o$sets eMcludln8 pensSon Ilablllty 758.442 772,663 The funds of the chorlty Restrirted lrtcom• fund5 Unr•strtcted funds 14 416 758,026 785 771,878 758,442 772,663 The flnanclal statem•nts w•r• approved by th• Tru%t••$ on ......,............ . Th)X. Timothy Edwards IC Trustee 12-
NSTITUTE FOR RESEARCH IN SCHOOLS srATEMEfrJT OF CASH FLOWS FOR THE YEAR EAIDED31 AU6UST2025 2025 2024 Notes Ca$h flowsfrom operatlnR Kti¥ltieg Cash labsorbed byllgenerated from Oporatlons 18 125.2481 223.363 InvesttnB aCtfvIes Purchase of tsngible flx•d as5•ts Investment income received 13,5991 8,599 13.5161 Net cash generated fromllused In) Invegtlng actlvltles 5.000 13,5161 Net ¢a$h used In flnandni actlvltles Net Ide£re•IllnCr*1S¢ In Cash cash equlvalenti 120,2481 219.847 Cash and $h equivalents at b•elnnin¥ of year 781,015 561,168 C•sh and egulv•lents at end of yr 760,767 781,015 13-
INsrmJTE FOR RESEARCH IN SCHOOLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EhlDED31 AUGusf2025 Ac¢ountln8 pollcl Chyrlty Informatlon Institute for Research In Schools Is a Charltable Incorpor4ted OrKanlsatlon. 1.1 AccountFng tonventlon The financSal statements ha prepared In accordance with Accountin8 and Repon¥ by Charits5: Statement of Recomrnended praCCe appllcable to charlttes prèparing thèlr accounts in accordance with the Financial Reporting Standard ?pplic?ble In the UK and Republic of Ireland IFRS 1021 leff8cdve l JaNary 20151 (Charities SORP IFRS 10211 and thé Flnanclal Reportln8 Standard appllcable In thè UK and R•publlc of Ireland IFRS 1021. The Instute For Research In Schools me•t5 the definiON of a public LEnefi't entity under FRS 102. Assets and Ilabllitte5 are Iniyally r•cc£nlsed at hlstorical cost or transattlon valu• unless otherwls• 5tsted in the r•l•vant accOunnI polltv. The flnanclal statèmants art prepared In 5terllng, whlch Ss th• functlonal currency of the charlty. Monetary amount5 in th15e flnancial statement5 are rounded to the nearest £. The financial Statéments have been prepared under th• hlstorlcal cost convenyon. Tho prlnelpal accountlng polleiès adopted are set out below. 1.2 GoSn# concern At the time of approvlng the flnancial 5tat•m•nts, th• Trustee5 have a reasonablè 0xp•ctaon that the charity has adequate resoui¢es to contlnue In operntional •xi5tence for thè forÈseéabl• futuro. Thus the Trustses conYnu• to adopt th• golnl conc•rn basis of arcountlng In preparlni th• flnjnclal statements. 1.3 Charltsblq funds Unrestricted funds •r• available for use at th• dlscmdon of the Trustees In furthtraneé of th•lr charStable obj¢ctlv85. Restrlct•d funds ar• subject to specifi¢ condition5 by donors or 8rant¢xs as to h¢)w they may be us•d. Th• purposes and uses of the strIcted funds ar• s•t out In the notes to th• ttn¥n¢ial 5tstements. 1.4 Income Incc*me Is recoRnlsed when the charlty is leeally entitled to it after any perfermanc• condthons hwe bèèn met, the amounts can be measured reliably, and it Is probable that Income will be received. Cash donatlons are recogni5ed on recelpt. other donattons are recognisÈd once the charlty has been notifi'ed of the donation, unles5 performance conditions require dèferrdl of the amount. 14-
INSTIWTE FOR RESEARCH IN SCHOOLS NOTES TO THE FINANaAL STATeMENfs ICONTINUEDI FOR niE YEAR ENDED31 AUGUST2025 Accountlng pollcles Icontlnued) 1.5 ExpendIre Expendlture is recognls•d oncè thère Is a legal or Construct obllKadon to trnnsfer economlc baléflt to third party, It 15 probable that a transfer of economic beneflts wlll be requlred In Settlement and thè amount of the obli¥atlon can be measur•d rellably. Expenditure is classlfied by a¢vIty. The costs of each activity are made up of the total of dI¢t Costs and shad ttrsts. Including support costs involvèd In undertakln8 eh activity. Direct costs attrlbutable to a single acttvity arè allocated directly to that athvlty, Skred costs whlch contribute to more than one actr'vity and SUPFQrt costs whlch are not attrlbutable to a $ln81• a¢VV are apporttoned between those activi•5 on a basis consistent with th• usa of resources. Central staff cost5 are allocated on the basi5 of dme spent, and depr•Claan charges allocated on th• ptsrdon tsf the assevs use. Fundralsini cost5 ar• thos8 Incurrnd In seekln8 voluntsry contrlbutfons and do not Includ• th• cos of dlssemlnadng Informatlon Sn support of the charitable activities. Support tost5 arÈ those costs Incurred dlrectly In support of expendlture on the objects of the charity and include prollet management carrled out at Headquarters. Governance costs are those incurred In connectton with admlTrlstratton of the ¢harity and eompllance wlth constitutlonal and statutory requlrem•nts. Cost5 Of qen•rndn8 funds ar• costs Incurred In attractln8 voluntary Income, and thosa Incurrèd In tradln8 athvlde5 that ralse funds. Charltsble athvlttos and Governanc• costs are costs Incurred on the chaAty'5 op¢rJtlons, Includlng support eost$ and ¢05ts relatlng to th• iov8rnance of th• charlty appordoned to charitable act1v1•s. 1.6 Intanglble flxed •ett otherthan goodwlll Intan8Sble assets aequlr8d separately from a buslnèss are reco£nised at cost and are sub5equ•ntly measurnd at cost less accumulat•d amtsrtlsaOn )nd èccumulatèd Impairment losses. AmortISaan Is rètognised 50 45 to wrlt• off the co15t or v•luatlon of assets les$ th•lr resldual values ovèr their us•ful Ilv•s on the following bas•s'. W•bslt• development S yèar stralqht1Sn• 1.7 Tanglble fixed assels Tangible fixed assets ar• InallY measured at cost and subs¢qu0ntly mea5ur8d at cost or valuatton, net of depr•¢(aOn and any Impalrment105se5. D•preciatton 15 re¢o8nised so as to wrlte off the cost or lUaOn of et$ less thelr re51dual values over theSr uwful lives on the following basés.. Plant and equipment Computer equipment 3 years strnl¥ht line 5 years strnlght15ne The gain or 1955 arlsing on the disposal of an asset Ss detèrmlned a5 the difference between the sale proceeds and the carrying value of the asset, and is recognised in the ststement of financial activities. 15-
INSTITUTE FOR RESEARCH IN SCHOOLS NOTES TO THE FINANaAL STATEMENT5 ICONTINUEDI FOR THE Y£4R EPIDED31 AUGUST2025 ACCOUnnI pollde$ Iconttnuedl 1.8 Impalm)ent offix•d a55et5 At each reportin8 end date, the charity revlews the carrying amounts of Its tanglble and Intanglblo assets to determine whether there is any indication that those assèts have suffered an Impairment loss. If any Such indication exists, the recoverable amount of the asset 15 éstimated in order to determine the extent of the Impalrmènt loss Ilf anyl. 1.9 Cash and ¢a$h equlvalont$ Cash and cash equivalents include ¢a5h in hand, dep0511S hèld at call with banks, other 5hort-term Ilquld Investments with orl8inal maturities of three months or less, and bank ovèrdrafts. Bank overdrafts are shown withln boryDwlnB5 In current Ilabilides. 1.10 Flnanclal In3truments The charlty has elected to appty th• provislons of Section 11 'Baslc Financlal Instrumen and Section 12 'oth•r Flnanclal In5tTument5 1s5u•s' of FRS 102 to all of It5 financial instrum•nt$. Flnancl41 Instrumènts ar• recolnlsed In thè ¢h#rlty's balance sheet when the charlty b•com•s party to the eontractual provlslons of the Instrum•nt. Financlal assèts and Ilabilltl•s are offset, wlth the not amount5 presented In the In4n¢lal stat•m•nts, when therè is a l•gally enforce?bl¢ riBht to set off the recognised amount5 and theré Is an Intention tosettle on a ngt basis or to realise the a5Sttt and s•ttle the liabilitv simultaneou51v, 8oslcfinanclol t7ssets Baslt flnancial asset5, whlch Snclud• debtors and cash and bank balances, are Inlfjally measuréd trnn5action prlc• IncIlIng tran5actioD costs and are subsequently carrled at amorfsed cost uslng the effèetlve Int•r•$t method un1055 the arrangement constitute5 a financing transacdon. where the tran5acfjon 15 measured at the present valuè of th• future receipts di5CgUllted at a market rate of int•r85t. Financial ssets classified as rée8lvabl8 wlthln one year are not amordsed. Baslcfinunclolllobllltles Basic financial liabillties, includlrKq craditor5 and bank loans ar• inltt•lly recognised at ttsnsa¢tlon prle• unl•ss the arrangement constitutes a financing tranSacOn, where th• d•bt in5trument15 mèasurd at th• pTrsent value of the futur6 payments d15tount¥d at a market rats of inter•st. Finan¢ial liabilitias classified as payable wlthln one year are not amortfs•d. Trade credltor5 are obllgation5 to ply for goods or servlces that have been acqulred in the Ordin Course of OperaOn$ from $uppliers, Amounts payèble are classified as current liabilities If paymènt Is due within one vear or less. If not, they are presented as non.current liabilities. Trade creditors are recognlsed iniyally at transaction price and subsequ•ntly m•a5ured at amortised c05t U5in8 the effective interest methcd. Derecoonlllon offinonclol Ilabllitfes Financial liabilitie5 are derecognised when the charitl5 contractual oblatnons explre or are dlschargèd or cancelled. 16-
INsfiTUTE FOR RE5EAROI IN SCHOOLS NOTE5 TO THE FSNANCIAL sfATEMENTS ICONTINUEDI FOR niE YEAR ENDED31 AU6UST2025 Accountlng pdl¢l Icontinuedl 1.11 Employe• benellts The cost of any unused holiday entitlement Is r•cognlsed In the period whlch the émployee's seNice5 are received. TermInaon benefits ar• reco8nlsed Smmedlately as an expense when the charity is d•monstAblv commlttad to termlnate the employment of 4n ernplc*yee or to provide terMInaOn benefits. 1.12 Retlrement benefit$ Payments to defin•d contrlbutton rèdrement beneflt schemés are charged a5 an expen as th•y f411 due. 1.13 Fund accountlng General funds are unre5trict•d funds whSch ar• avallable for use at tho dlscredon of the Trustees In furtherance of tha g•neral obleGdve5 of the charlty and whl¢h h4ve not been desi8nat•d for other purposes. Restrlct•d funds art funds which ara to be used In accordance with speciflc re51ricfjon5 Imposed by donors or whSch have been ralsed by the charlty for patticular purposes. The cost5 of raisin8 and •gmlnlstering such funds are charged against the swclfic fund. The alm and use of tach r•stricted fvnd is $•t out In t h• notes to the fin4ncial stst•ments, Income from donatlons and legadei Unrestrlcted Rutrlrted funds funds 202S 2025 Total Unrtstrtcted Rertrlcted funds funds 2024 Z024 Total 2025 Donaorns and 81fts Grnnt Income 1,420,000 1,420.000 1,523,052 1.523.052 14,803 14,803 1,420,841 1,420,841 1,523,052 14,803 1.537,855 Donatlons Ynd 81fts DOnaan$ from Indlvlduals 1,420.OC¥J 1,420,000 1,523,052 1,523,052 1,420,OCXJ 1,420,CKJO 1,523,052 1.523.OS2 17-
INSTITUTE FOR RESEARCH IN SCHOOLS NOTesTOTHE FINANCIAL sfATEMEKfs ICONTINUEDI FOR THE YEAR ENDE031 AUGU5T2025 Income from donauons and legacles Icontlnuedl Unrestricted Restrlrted funds funds 2025 2025 Total unTescted Restrirted lunds lunds 2024 2024 Totsl 2025 2024 Grants recel¥able for core actlvltles Scl•nce & TechnolleS Facllltles Coun¢ll Marttn Keat 750 750 25 25 841 841 Innovate UK Unlverslty of Oxford 13,028 13,028 841 14,803 14,803 Inc(mefrom Investments Unrestrfcted Unrestrlrted funds funds 2025 2024 Internst r•c•fvable 8,599 18
INsrtWTE FOR RESEARCH IN SCHOOLS NOTES TO THE FINANaAL STATEMENTS IcoKnNUEDI FOR THE YEAR ENDED 31 AUGUST2025 ExpendSture on tharltsble attivities 2025 2024 Dlrect fosts staff cost5 Trawl and stsb515tence Research costs Marketlng costs Comput•r and webslts Costs Staff trnlnlng other offlce costs Insurance Conferences and m4nI r00rn5 Prolect matèrlals gal and prof•55lonal Gfft5 Contracted staff Other charltabl• exp•ndltur• 992,583 76,236 306 47,442 53,566 18,169 15.959 15,753 96,272 901,970 84,382 54.814 21.876 47,247 19.1)40 9,072 15,306 93,182 588 198 285 792 66 39,396 75 55,216 1,371,98S 1,287,806 Share of support lovemance costs Ist• note 51 Support Governane• 61,438 10,020 57,850 9.000 1,443,443 1,354,656 Analysls by fund unstrICted fvjnds R•strict•d fvnds 1,443,074 369 1.331,818 22,838 1,443,443 1,354,656 Support costs •llo¢ated to Yctivltles 2025 2024 D•preciation Other offlee e05ts Accounling fees Governance costs 8.761 38.536 14.141 10,020 9,720 39.281 8,849 9.000 71,458 66,850 19-
INSTITUTE FOR RESEARCH IN SCHOOLS NOTES TO THE FINANCIAL STATEMENTS {CONMNUEDI FOR THE YEAR ENDED31 AUfjUST2025 Thistee$ None of th• Trustees lor any persons conn?rted wfth th•ml recelved any remuneratlon or beneflts from the ¢harty dutlng the year. Durlnq the perlod, one trust•• was reimbLtrsed £58 for travel •xwnse$12024- £2201. Employees The 4vera¢e monthly number of eMpkI•S durfn8 th• y•ar was.. 2025 Number 2024 Number Employee5 17 Is employment costs 2025 2024 Wales and salories Social 5•turlty costs oth•r p•nslon c05tS 805.199 90,169 97,215 739,335 78,908 83,727 992,583 901,970 • 2024 wa5 for a 12 month p•r6od, 2023 w•5 for a 17 month p•rlod Though 2023 was a 17 month p•rlod, r•muneTrtlon wa5 consldered ov•r a 12 month p•rlod In both cas•s. The numb•r of emplo•S whos• innual remunerafjon was mor• than £60,003 is as follows,, 2025 Number 2024 Number £60,OCKJ- £70,000 £70,000- £80.000 £90,000- £100,000 £ioo,wo- £iio,o¢J) -20-
INSTITUTE FOR RESEARCH IN SCHOOLS NOTESTO THE FINANaAL sfATEMENTS ICONnNUEOI FOR TME YE4R ENDED31 AU6UST2025 Emplwees (Conthu) Remunerntlon ol key rnanayment personnel The remuneration of key manag•m•nt personnel was as follows: 2025 2024 Total remunerafjon and ben•ffts 230,553 212,195 Other•xpendlture unrestrict Unrertrfcted fvnds funih 2025 2024 N•t loss on dlsposBI of tinglbl• flxed ass•ts 218 Taxtton The charlty Is exempt from tix on Sncom• and gains falllng wlthSn seetlon 505 of the Trxes Act 1988 or Sec0 252 of the Taxation Chargeable Galns Act 1992 to th• •xtsnt that the5• arn appll8d to It5 cP¢rltable objects, 10 IntlIble fix•d assets W•kn d•v•loM•Trt C05t At I S•pt•mbor 2024 and 31 August 2025 18,896 Amorfdsatlon and Smpalrment At I September 2024 Amort15adon charged for the year 15.004 3,892 At 31 Au4ust 2025 18,896 Carryln8 arnount At 31 Au8USt 2025 At 31 Au8USt 2024 3.892 -21
INSTITUTE FOR RESEARCH IN SCHOOLS NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAREf4DED31 AUGUST2025 11 Tang5ble fixed assets Cornputsr •4thlprdTht Cost At I Septsmber 2024 Addiknons D15P05als 20,874 45,116 3.598 18701 65,990 3,598 18701 At 31 August 2025 20.874 47,844 68,718 Deprecl•tkn and Impalrment At I September 2024 D8prec5atlon charged in the year Eliminated In respect of dlsposa15 20.874 30,425 4,869 16531 51,299 4.869 16531 At 31 August 2025 20,874 34,641 55,515 Carrylng •mount At 31 August 2025 13,203 13,203 At 31 AuKL 2024 14,691 14,691 12 Lkbtors 2025 2024 Amountslallln8 due wlthln one year. other debtors Prepaymen15 and ac¢ru•d income 8,599 25,260 22,091 33,859 22,091 13 CredStors: amounis falllng due wlthln one year 2025 2024 OthertsXaOn and soclal securlty Trade credllors other credltors Accruals 9,870 14.017 9.892 15,608 20.821 3,460 11,531 13,214 49,387 49,026 -22-
IN5fiTUTE FOR RESEARCH IN SCHOOLS NOTES TO THE FINANOAL STATEMEMfs ICONT114UEDI FOR THE YEAR EPIDED31 AUGUST3025 14 Restrlcted funds The r•stri¢ted fvnd5 Qf the charity comprise th• unexpended balances of donations and 8rants hèld on trust subj•ct to 5peclfic condlOnS by don0 as to how th•y may be used. Atl September 2024 IOmIn$ resources Resources expended Tr4nsfers At 31 AuRUSt 2025 Royal Sotlèty of Chemlstry 785 13691 416 Prevlous yeir: Atl September 2023 IncomlnB Resourtes expended Tr8nsfers At 31 Au8USt Royal Socl•ty of Chemlstry Henry Roycè In5tUte Se5tnc• & Tè¢hnoloqy Facllltles Councll University of Oxtsrd Martln Keat 5,547 2,500 14,7621 13,2731 785 773 750 17501 11,0001 1251 113,0281 25 13,028 Innovate UK 8,047 14,803 122.8381 773 785 Royal 5ooety of Chemlgtry Royal 5oclèty of Chemistry provlded IRIS wlth a grant for thg lrnplementstton of th• IRIS lon1¢ Ilquld5 pllot project In Northern Ireland. 15 Unrestrfcted funds The unmstricted funds of the charr<y comprLse th• unexpended b41anc•s of donattons and 8r4nt$ which ar• not subject to specific condition5 by donors and grantors a5 to how th¢y may be used. These include designated funds whl¢h hav• b•èn sèt aside out of uThr•strlcted funds by the trustses for speclflc purposes. Atl September 2024 Incomlng resources Resrte$ expended Transfers At JI Au8USt 2025 Gènèral funds 771,878 1,429,440 11.443.292) 758.026 -23-
INSTITUTE FOR RESEARCH IN SCHOOLS NOTES TOTHE FINANaALsfATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AUGU2025 15 unre5ed funds IContInu) Prevlous year: In¢omlng resovr£as Resources expended Transfers At 31 Au8u# 2024 September 2023 Gener31 funds 581,417 1,523.052 11,331,818) 17731 771.87B 16 Analysls of net assets between fundi Unrestrlcted funds 2025 Re5tr1cted lunds 2025 Tot•1 2025 At 31 Au8USt 2025: Tanglble as5Èts Current ass•ts/lIlab111#sl 13,203 744,823 13.203 745,239 416 758.026 416 758,442 Unrutrfcted funds 2024 Restrtcted funds 2024 Totsl 2024 At 31 Auwst 2024. Intan8lble flxèd assets TangSble a55et5 Current assets/lllabilitr'esl 3,892 14,691 753,295 3.892 14,691 754,080 785 771A78 785 772,663 -24-
INSTITUTE FOR RESEARCII IN SCHOOLS NOTES TO THE FINANaAL STATEMENTS {coNfiNUEDI FOR THE YEAR EPIDED 31 AU6UST2025 17 Related party trab15actlon$ Tran$artlons wllh related p*rknes Th• Chartty r•celd donatlon Intome durin8 the period amounting to £IA20,OCQ from the Battcock Charitsble Trust12024 . £1,520,OC4)l. The Batt¢ock CharItae Trust Is a related party by virtue of Humphr•v Battcock beln8 a trustse of the Trurt. No amoLtnt5 were due to the Charity at th• y•ar end. 18 Cash generated from operatlons 2025 2024 Net l•xp•ndttur•l I Incom• for the year 114,2211 183,199 Adjustm•nts for.. Investm•nt incomè mtt+gnls•d sn statement of flnancl•l I¢VI•S Loss on dlsposal of tanilble flxed assets D•preCIaOn and Impalrment of tanilbl• fix•d assets 18,5991 218 8,761 9,720 Movements In workln8 capltsl.. Ilncreas•l/d•cr8ase in debtors Increase In eMdltOf5 111,7681 361 1.016 29,428 Cgsh labsort)ed byll8en•rated from oper•Y¢) 125,2481 223,363 -25-