Tower Hamlets Education
Partnership
Annual Report and
Financial Statements
Partner
31 March 2024
Charity Registration Number
1173381 IEngland and Wales)
Company Limited by Guarantee
Regislralion Number
10556338 (England and Walesl

Contents
Reports
Legal and administrative information
Trustees, report
Independent auditor's report
Financial Statements
Statement of financial activities
13
Balance sheet
14
Statement of cash flows
Principal accounting policies
16
Notes lo the financial statements
Tower Hamlets Education Partnership

Legal and administrative information
Trustees
Robert Crothers (Chair)
Shahanaz Begum
Aziz Choudhury
Lisa Fraser (from 17.11.23)
Michael Keating
Zafrin Khan-whealley
Nessa McNeela
Sir Alasdair Macdonald
Owen O'Regan
Jon Ryder
James Thomas (10 17. 11.23)
Olubunkunola Yusuf
Executlve Team
Tracy Smith, Executive Director
Daniel Burton, Director of Secondary
Education and Partnerships (to 31.8.23)
Ruth Roberts, Director of Operations (from
16.5.23)
Alison Gawthrope, Director of Primary
Education and Partnerships
Reglstered office
The Professional Developmenl Centre
229 Bethnal Green Road
London
E2 6AB
Charlty reglstratlon number
1173381 (England and Wales)
Company registration number
10556338 (England and Wales)
Auditor
8uzzacott LLP
130 Wood Street
London
EC2V6DL
Principal bankers
National Westminster Bank
Stratford Broadway
Gratley House
1-118roadway
Strattord
E15 4DX
Tower Hamlets Education Partnership 1

Trustees, report Year to 31 March 2024
The Trustees, who are also the directors for the purposes of company law, present their
statutory report together with the financial statements of the Tower Hamlets Education
Partnership I'THE Partnership" or the'charitable company") for the year to 31 March 2024.
The report has been prepared in accordance wilh Part 8 of the Charities Act 2011 and
constitutes a directors, report which has been prepared to meet the requirements of the
Companies Act 2006.
The financial statements have been prepared in accordance with the accounting policies sel
out on pages 16 to 18 and comply with THE Partnership's memorandum and articles of
association, applicable laws and the requirements of Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Slandard applicable in the United Kingdom and
Republic of Ireland IFRS 102).
OBJECTIVES AND ACTIVITIES
Principal aim8
The principal activity of THE Partnership in the year under review was the advancemenl of
education for Ihe public benefil in and through member schools and other educational seltings
and initiatives in the United Kingdom, with an initial focus on the London Borough of Tower
Hamlets.
Review of actlvltles
Vislon
Our vision is Ihal all childr&n and young people in Tower Hamlets will experience the best
possible educational opportunities, outcomes and life chances.
Objectives
To realise this vision, we are building on the existing culture of collaborative working between
our schools and other educational settings enabling them to deliver the best possible
education for the public benefit.
Revlew of the year
The long and rich history of collaboration and partnership working in Tower Hamlets continues
to provide the foundation for our work with our member schools.
The very complex challenges facing schools and school leaders at present require us to
strengthen our collaborative approach and to collectively, as Michael Fullan says, 'execute
public service with a moral purpose, and develop leaders who 'work in their own schools but
a150 participate in the bigger picture,.
These traits are writ large in the education and wider community in Tower Hamlets and we
feel proud of the exceptional leadership found in our partnership of schools and across the
wider system. Both our stralegic plan and our day-to-day work with schools seeks to promote
these traits in further developing a collaborative school-led system.
Tower Hamlets Education Partnership 2

Trustees, report Year to 31 March 2024
OBJECTIVES AND ACTIVITIES {continuedl
Review of activities (continued)
Review of the year (continued)
Our leaders, teachers, staff, governors and the whole community continue to rise to the
challenges facing schools in the current difficult climate and demonstrate remarkable
commitment to ensure that our children and young people continue lo learn and achieve. For
our part, we continue to support the whole school communily in an increasing variety of ways.
We are proud of the part THE Partnership plays in leading the agenda of collaborative, school
improvement in Tower Hamlets and in working collectively to build an even stronger
community of schools.
We have developed greater capacity and brought new insights from the expansion of the
excellent consultant team, improving our understanding of how to provide high qualily support
and challenge. This has been enhanced through the very effective role of the Headleacher
Reference Group who take their role as a critical friend seriously, providing robust scrutiny of
our work.
We would like to express our thanks for all the support from our member schools, the Local
Authority and the wider community and look forward to working with you again next year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
THE Partnership was incorporated on 10 January 2017 as a company limited by guarantee,
company registration number 10556338 (England and Wales), in accordance with the
requirements of The School Companies Regulations 2002. It was regislered as a charity on
13 June 2017, charity registration number 1173381 (England and Wales). In the event of
winding up, each of the members is liable to contribute towards the assets of the charitable
company up to the amount of £25.
The Trustees approve the strategic plan and the budget for each financial year. Management
of the day-l04ay operations is delegated to the Executive Direclor, subject to appropriate
financial limits. The Trustees monitor the activities of THE Partnership at Board meetings
which take place three times per year., the Chair meets more regularly with the Executive
Director to review progress. A new Strategic Plan 2022-25 was approved by the Trustees in
March 2022 for implemenlalion in September 2022 and is under regular review.
A Finance and Operations sub-committee meets three limes a year to review financial and
operational matters including audit. The Trustees also hold an annual strategy day to consider
emerging education policies and praclice and to discuss ongoing strategic planning.
Trustees
The Trustees who were in office throughout the year, and as at the date of signature of the
financial statements are listed at page 1 of these financial ststements.
The Trustees have been 5elecled lo include an appropriate mix of educational and
Tower Hamlets Education Partnership 3

Trustees, report Year to 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
Trustees Icontinuedl
business skills and representation of the local community. Following the resignation of a
Trustee in November 2023, a new Trustee was appointed by the Board in November 2023.
Induction and training
The Trustees have been provided with guidance on their responsibilities as Trustees and new
Trustees are provided with a comprehensive induction programme.
Key management personnel
The key management personnel of the charitable company comprise the Trustees and the
Executive Team (as listed at page 1). The salaries of the Executive Team are reviewed on an
annual basis, taking into account external benchmarks and the terms of their contracts.
No remuneration was paid to any Trustee in connection with his or her services as a Trustee.
Fundralsing
The charitable company does not actively solicit donations and therefore is not regislered with
the Fundraising Regulator and does not subscribe to any fundraising codes of practice. When
donations from individuals are received, the charity protects personal data and never sells
data or swaps data with other organisations. During 2023124, the charity received no
complaints about fundraising activities.
Public benefit
The Trustees hav8 noted the Charity Commission guidance on the public benefit requirement
under the Charities Act 2011 and are confident that the activities of THE Partnership comply
with this requirement.
The Truslees will ensure Ihat, in administering the charitable company, they will continue to
pay due regard to the Charity Commission guidance on public benefit.
Trustees, responsibilities
The Trustees (who are also directors of THE Partnership for the purposes of company lawl
are responsible for preparing the Trustees, report and financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Praclicel.
Company law requires the Trustees to prepare financial statements for each financial year
which give a true and fair view of the state of affairs of the charitable company and of the
income and expenditure of the charitable company for that year.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consislently;
observe the methods and principles in Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the United Kingdom and RepLtblic of
Ireland (FRS 1021.,
Tower Hamlets Education Partnership 4

Trustees, report Year to 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT {¢ontinued)
Trustees, responsibilities Icontinuedl
make judgements and estimates that are reasonable and prudent.,
state whether applicable United Kingdom Accounting Standards have been followed,
subject to any material departures disclosed and explained in the financial statements.,
and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with
reasonable accuracy at any lime the financial position of the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and deleclion of fraud and other irregularilies.
Each of the Trustees confirms that..
so far as each Trustee is aware, there is no relevant audit information of which the
charitable company's auditor is unaware., and
each Truslee has taken all the steps that he or she ought to have taken as a Trustee in
order to be aware of any relevant audit information and to establish that the charitable
company's auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418
of the Companies Act 2006.
The Trustees are responsible for Ihe maintenance and integrity of financial information
included on the charitable company's website. Legislation in the United Kingdom governing
the preparation and dissemination of financial statements may differ from legislation in other
jurisdictions.
Tower Hamlets Education Partnership S

Trustees, report Year to 31 March 2024
FINANCIAL REVIEW
Flnancial report
A summary of Ihe year's results can be found on page 13 of the financial statemenls.
Tolal income for the year amounted to £1,216,938 (2023 - £1,207,121) and total expenditure
amounted lo £1,239,164 (2023 - £1,329,234), re5ulling in a deficit for the year of £22,228
(2023 - £122,113 deficit). Total reserves a131 March 2024 amounted to £569,69612023
£591,924) and the total cash and short-term deposits balance was £841,405 (2023
£911,171). The Trustees consider that this is sufficient to cover the current commitments and
continuing activities.
Reserves policy and financial position
ReseNes policy
The Tru5tee5 have reviewed the reserves policy and the need for free reserves, being those
unreslricled funds not invested in fixed assets, designated for specific purposes or otherwise
committed. Having considered the current income streams, committed expenditure and key
financial risks, it is felt that such reserves are necessary to cover any temporary shortfalls in
income due to timing differences between income and expenditure and to allow for unforeseen
reductions in income pending the implementation of action plans to reduce expenditure. After
an assessment of risk, the Trustees have approved a target level of free reserves that is
sufficient lo cover a minimum of three months, average expenditure. Al 31 March 2024, the
free reserves (unrestricted funds excluding tangible fixed assets) amounted to £551,966
12023-. £548,962), which exceeds the minimum target level when compared to the expenditure
in the year then ended. In the light of reduction in expected income, this level of reserves is
considered to be sufficient to achieve the largel level of free reserves in 2023-24.
Financial posltlon
The balance sheet shows total net assets of £569,696 {2023 - £591,924), all of which relales
lo unrestricted funds. The Trustees consider that this is sufficient to cover commitments and
lo finance the continued running of activities in accordance with the reserves policy sel out
above.
Tower Hamlets Education Partnership 6

Trustees, report Year to 31 March 2023
FINANCIAL REVIEW (continued)
Risk management
The Trustees, together wilh the Executive team, have assessed the major risks to which the
charitable company is exposed. The Trustees believe Ihat they have established effective
Systems to mitigate those risks by putting operational plans in place, by monitoring reserve
levels, by ensuring that there are adequate controls over key financial systems and by
periodically reassessing the operational and business risk5.
The Trustees have identified the key risks as sel out below.
Financial risks
There are a number of risks lo our long-term viability.. over-dependency on income from limited
sources, lack of capacity and capability lo diversify income sources and a failure to convince
members of the benefits of diversification and growth. The re-subscription of all our member
schools this year, along with significant in-year savings arising from staffing reorganisalions,
provides evidence of the active management of these risks.
Publlc pollcy rlsks
The trustees are aware of risks with regard to political change and take steps to mitigate
them. This involved consultation with member schools, identification of the options for
potential MAT structures and consideration of these options at a Board Strategy Day.
Discussions with the local authority and maintained schools have continued in order to
manage the transition of funding for commissioned services from a Department for Education
grant to de-delegated schools funding.
Servlce dellvery rlsks
In times of significant change, there is a constanl requirement for our service offer to be
adapted appropriately so that it remains fit for purpose and schools are willing lo relain their
membership.
Service delivery on our behalf by consultants or contractors needs effective quality
management Systems in place to protect our reputation and membership levels. Feedback
from member surveys continues to indicate that these risks are being managed effectively and
the Executive Team will continue to regularly review our service offer to members. The Board
are provided with details of service delivery, current and planned, at each meeting.
Workforce risks
We must ensure our people have the necessary skills and motivation to deliver high-quality
services and to operate in an efficient and effective way. We have reviewed our staffing
structures to ensure they remain appropriate and provided professional development
opportunities to enable staff to maintain and enhance Iheir capacity to deliver relevant
services. This review has resulted in a reorganisation of the Operations Team and changes
to some ExecLStive Team roles during 2022-23.
Tower Hamlets Education Partnership 7

Trustees, report Year to 31 March 2023
FINANCIAL REVIEW (continued}
Risk management (continued)
Workforce risks (continued)
We remain acutely aware that Ihe loss of key staff, in addition lo creating a risk lo the ongoing
operations at least in the short-term, could have an impacl on the financial and service delivery
risks. The actions to mitigate this risk include developing robust systems for the review and
appraisal of performance, for personal and professional development and for remuneration.
Future plans
A full review of the 2022-25 Strategic plan was undertaken in April 2024, which identified
development needs, which will be taken to a planned strategy planning meeting in June and
again in the Aulum for actions to be sel.
Approved by the Trustees and signed on their behalf by:
Trustee:
Date..
Tower Hamlets Education Partnership

Independent auditor's report Year lo 31 Mafch 2024
Independent auditor's report to the members of Tower Hamlets Education Partnership
Opinion
We have audited the financial statements of Tower Hamlets Education Partnership (the
'charitable company'l for the year to 31 March 2024 which comprise the statement offinancial
activities, the balance sheet, the statement of cash flows and notes to the financial statements,
including a summary of significant accounling policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting
Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 March
2024 and of its income and expenditure for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS
(UK)) and applicable law. Our responsibilities under those slandards are further described in
the Auditor's responsibilities for the audit of the financial statements section of our report. We
are independent of the charitable company in accordance with the ethical requirements that
are relevant to our audit of the financial stalements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other elhical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the accounts, we have concluded that the trustees, use of the going concern basis
of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the charity's ability to continue as a going concern for a period of at least ￿e1ve months from
when the accounts ale authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect lo going concern are
described in the relevant seclions of this report.
Tower Hamlets Education Partnership 9

Independent auditor's report Year to 31 March 2024
Other Information
The Trustees are responsible for the other information. The other infofmation comprises the
information included in the annual report other than the financial statements and our auditor's
report Ihereon. Our opinion on the financial slatements does not cover the other information
and, except to the extent otherwise explicitly stated in our report, we do not express any form
of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing $0, consider whether the other information is materially inconsislent
with the financial statements or our knowledge obtained in the audit or otherwise appears to
be malerially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the
financial statements or a material misstatement of the other information. If, based on the work
we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact.
We have nothing to report in this regard,
Oplnions on other matter8 prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, report for the financial year for which the financial
statements are prepared is consistent with the financial stalemenls; and
the Trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the
Trustees, report.
We have nothing to report in respecl of the following matters in relation to which the
Companies Act 2006 requires us to report to you if, in our opinion..
adequate accounting records have not been kept, Of returns adequate for our audit have
not been received from branches nol visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of Truslees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entitled to take the small companies, exemptions from the
requirement to prepare a strategic report.
Tower Hamlets Education Partnership 10

Independent auditor's report Year to 31 March 2024
Responsibilities of Trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees are
responsible for the preparation of the financial statements and for being satisfied that they give
a true and fair view, and for such internal control as the Trustee5 determine is necessary to
enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing, as applicable, matters related to
going concern and using the going concern basis of accounting unless the Trustees either
intend to liquidale Ihe charitable company or to Cease operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasonable assurance is a high level of assurance
but is not a guarantee Ihal an audit conducted in accordance with ISAS (UK) will always detect
material misstatement when it exists. Misslatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users laken on the basis of these financialststements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to detect material
misstatements in respect of irregularities, including fraud. The extent to which our procedures
are capable of detecting irregularities, including fraud is detailed below.
Our approach lo identifying and assessing the risks of material misstatement in respect of
irregularities, including fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the
appropriate competence, capabilities and skills lo identify or recognise non- Gompliance
wilh applicable laws and regulations., and
we obtained an understanding of the legal and regulatory frameworks that are applicable
to the charity and determined thal the most significant frameworks which are directly
relevant to specific assertions in the financial statements are those that relate to the
reporting framework (Statement of Recommended Practice.. Accounting and Reporting
by Charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the Uniled Kingdom and Republic of Ireland {FRS 102) and the
Charities Act 2011) and those that relate to data protection (General Dala Protection
Regulation).
We assessed the susceptibility of the charity's financial statements to material misstalemenl,
including obtaining an understanding of how fraud might occur, by.
making enquiries of management as to their knowledge of actual, suspected and alleged
fraud,. and
Tower Hamlets Education Partnership 11

Independent auditor's report Year to 31 March 2024
Auditor's responsibilities for the audit of the financial statements {continued}
considering the internal controls in place to mitigate risks of fraud and non- compliance
with law5 and regulations.
To address the risk of fraud through management bias and override of conlrols, we..
performed analytical procedures to identify any unusual or unexpected relationships.,
tested journal entries to identify unusual transactions., and
assessed whether judgements and assumptions made in determining the accounting
estimate for the provision for gifts in kind were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we
designed procedures which included, but were not limited lo..
reading the minules of meelings of those charged with governance. and
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed
that laws and regulations are from financial transactions, the less likely it is that we would
become aware of non-compliance. Auditing standards also limit Ihe audit procedures required
to idenlify non-compliance with laws and regulations to enquiry of the trustees and other
management and the inspection of regulatory and legal correspondence, if any.
Material misstatemenls that arise due to fraud can be harder to detect than those that arise
from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located
on Ihe Financial Reporting Council's website al www.frc.org.uklauditorsresponsibilities. This
description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance
with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so
that we might slate to the charitable company's members those matters we are required lo
slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibility to anyone other than the charitable company
and the charitable company's members as a body, for our audit work, for this report, or for the
opinions we have formed.
Hugh Swainson, Senior Statutory Auditor
for and on behalf of Buzzacott LLP, Statutory Auditor
130 Wood Street London EC2V 6DL
Tower Hamlets Education Partnership 12

Statement of financial activities (including income and expenditure account)
Year to 31 March 2024
Unffjtrlctsd
funds
Re5trl¢ted
funds
Totsl
2024
Total
2023
Notes
Incomo from:
Granls and donalions
Charitable activities
Total Income
9,000
9,000
1,207,936
1.216,936
1,207,936
1,207,936
1,207.121
1,207,121
9,000
Expondlturg on..
Charitable activities
Total exponditure
1,230,164
1,230,164
9,000
9,000
1,239,164
1,239.164
1,329.234
1.329.234
Net oxpendlture and net movem•nt In
fund5
122,2281
122,2281
1122,1131
Reconclllatlon of funds..
Balan¢&s brought foNard at 1 Aprll 2023
8alancg5 carrled forward at 31 March 2024
591,924
569,696
591,924
569,896
714.037
591.924
All of the charitable company's activities derived from continuing operations. All funds in the
prior year were unrestricted.
There is no difference between the net movement in funds above and the historical cost
equivalent.
Tower Hamlets Education Partnership 13

Balance sheet As at 31 March 2024
2024
2024
2023
2023
Notes
Tangible fixed assets
17,730
42,962
Current assets
Debtors
Cash at bank and in hand
Short term deposits
10
63,364
341,405
500,000
904,769
78,407
411,171
500,000
989,578
Credltors.. amounts falling due
within one year
{352,8031
1440,6161
Net current assets
Totsl net assets
5SI,966
569,696
548.962
591.924
The fund8 of the charity:
Unrestricted funds
General fund
569,696
569,696
591,924
591,924
Approved by the Trustees of Tower Hamlels Education Partnership, Company Registration No.
10556338 (England and Wales) and signed on their behalf by..
Trustee..
Approved on.,
Tower Hamlets Education Partnership 14

Statement of cash flows Year to 31 March 2024
Year to 31
March
2024
Year lo 31
March
2023
Notes
Cash flows from operating actlvities:
Net cash lused in) provided by operating activities
166,986)
347,182
Cash flov4B from investSng activltles:
Purchase of tangible fixed assets
(2,7801
119.8801
Change In cash and cash equlvalents In the year
Cash and cash equivalents at 1 Aprll 2023
Cash and cash equlvalents at 31 March 2024
(69,7661
911.171
841,405
327,502
583,669
911,171
Notes to the statement of cash flov￿ for the year
A Reconclllatlon of net movement In funds to net cash {used In) provided by operating
activities
Year to 31
Year to 31
March 2024 March 2023
Net movement in funds la5 per the ststemont of financlal actlvltlesl
Adjustments for..
Depreciation charge
Decrease in debtors
Decrease in creditors
Net cash {u8ed inl provlded by operating activltl8S
{22,2281 (122,1131
28,012
15,043
(87,813)
166,9861
31,260
562,286
1124,251)
347,182
B Analysis of cash and cash equivalents
2024
2023
Cash at bank and in hand
Short term deposits13 months or less)
Totsl cash and cash equlvalents
341,405
500,000
841,405
411,171
500,000
911,171
Analysis of changes in net debt
At1
April
2D23
At31
March
2024
Cash
flows
Cash at bank and in hand
Short term deposits13 months or less)
Totsl
411,171
500,000
911.171
169,7661
341.40S
500,000
841.405
{69,766}
Tower Hamlets Education Partnership 15

Principal accounting policies Year to 31 March 2024
The principal accounting policies adopted, judgements and key sources of estimation
uncertainty in the preparation of the financial statements are laid out below.
Basis of preparation
These financial statements have been prepared for the year to 31 March 2024 with
comparalive information displayed in respect of the year to 31 March 2023.
The financial statements have been prepared under the historical cost convention with items
recognised al cost or transaction value unless Othejwise staled in the relevanl accounting
policies below or the notes to these financial statements.
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland (FRS 102} (Charities SORP FRS 1021, the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the
Companies Act 2006.
The charitable company conslilutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded lo the nearest pound.
Critlcal accountlng estSmat8s and areas of Judgement
Preparation of the financial statements requires the Trustees and management to make
significant judgements and estimates.
The items in the financial statements where thesejudgements and estimates have been made
include..
Estimating the useful economic life of langible fixed assets for the purposes of calculating
depreciation.,
estimating accrued expenditure., and
determining the apportionment of expenditure belween governance and other support
cosls and between support costs and the various other categories of expenditure.
Assessment of going concern
The Trustees have assessed whether the use of the going concern assumption is appropriate
in preparing these financial statements. The Trustees have made this assessment in respecl
to a period of one year from the date of approval of these financial statements.
The Trustees have concluded that greater financial pressures in the wider education system
may, in the longer term, result in greater risk in relation to the fundraising for the charity.
However, they believe that the charity is a going concern on the basis of financial forecasts
Tower Hamlets Education Partnership 16

Principal accounting policies Year to 31 March 2024
Assessment of going concern (continued)
and the budgeted level of reserves which are significantly in excess of the minimum level
identified in the reserves policy. Based on this, the Truslees are of the opinion Ihat the charity
will have sufficient resources to meet its liabilities as they fall due. The most significant areas
ofjudgement that affect items in the financial statements are detailed above.
Income recognition
Income is recognised in the year in which the charitable company is entitled to receipt, it is
probable the charitable company will receive the income, and the amount can be measured
with reasonable certainty. Income is deferred only when the charitable company has lo fulfil
conditions before becoming entitled to it or where the donor or funder has specified that the
income is lo be expended in a future accounting period.
Income comprises donations, membership fees, fees for work commissioned by third parties,
growth funding from the local authority and income from training and events.
The membership period is coterminous with the year end. Any membership fees relating to
the following year received in advance of the year end are deferred to the following year.
Fees from work commissioned by third parties and income from training and events are
recognised to the extent thal il is probable that the economic benefits will flow to the charitable
company and Ihe revenue can be reliably measured.
Expendlture and the basis of apportioning costs
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charitable company to make a payment to a third party, it is probable th81 a
transfer of economic benefits will be required in settlement, and the amount of the obligation
can be measured reliably.
All expenditure is accounted for on an accruals basis.
Expenditure on charitable aclivities includes expenditure associaled with the primary
charitable purposes as described in the Trustees, report. Such costs include direct cost5 and
an allocation of support costs. All expenses, including support costs, are allocated or
apportioned to the applicable expenditure headings.
Support costs represent indirect charitable expenditure. In order to carry out the primary
purposes of the charitable company it is necessary to provide support in the form of financial
procedures, IT, office services and equipment and a suitable working environment.
They include governance costs which are the costs associated with the governance of the
charitable company and the costs associated with the strategic, as opposed to day to day,
management of the charitable company's activities. Support costs are allocated in full to
expenditure on charitable activities.
Tower Hamlets Education Partnership 17

Principal accounting policies Year to 31 March 2024
Fixed Assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of
depreciation. Appropriate expenditure of £1,000 or more is capitalised. Depreciation is
recognised on a straight-line basis so as to write off the cost over the useful lives of fixed
assets as follows..
Computer equipment and sofvare
over 3 years
Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability.
Prepayments are valued al the amouni prepaid.
Cash at bank and in hand and short-term deposits
Cash at bank and in hand represents such accounts and instruments that are available on
demand or have 8 maturity of less than three months from the date of acquisition.
Short term deposils are cash amounts held by the charity with a maturity date of less than one
year. They are measured at the cash value of the deposit.
Creditors
Creditors are recognised when there is an obligation al th8 balance sheet date as a result of
a past event, il is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably. Creditors are recognised at the
amount the charitable company anticipales it will pay to settle the debt.
Pension costs
The pension cosls represenl payments in respect of individuals seconded lo the charitable
company. These costs are charged to the Statement of Financial Activities in the period to
which they relate. The charitable company's only obligation is to pay the pension contributions
applicable to the periods during which the relevant individua15 are seconded to it.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of
ownership remain with the lessor are charged on a slraight-line basis over the lease term.
Fund structure
Unrestricted funds comprise those monies which are freely available for application towards
meeting the charitable objectives of the charilable company at the discretion of the Trustees.
Restricted funds represent monies which have been raised for a specific purpose or which are
subject to reslriclions on their use. Once the PL¢rposes have been fulfilled, or the funds used
in accordance with the conditions, they are released to unrestricted funds.
Tower Hamlets Education Partnership 18

Notes to the linancial statements Year to 31 March 2024
Donations
Un-reslricled Reslncled
funds
funds
Total
2024
Total
2023
Total
9.000
9.000
Income from charitable actlvities: School improvements
Year to 31 Year lo 31
March
March
2024
2023
Membership fees
Training and events
Interest received
Primary Education support packages
Commission for school improvement and other funding from London
Borough of Tower Hamlets
Other trading activity
383,724
173,844
13,651
122,080
390,078
189,404
4,774
138,637
449,796
74,841
1,207,936
406,688
77,540
1,207,121
Expendlture on charltable activitios.. School improvements
Yearto 31
Mar¢h
2024
Direct
Support
Consultants
Educational materials and data
Staff costs
Depreciation
IT costs
Other support costs
Total expenditure 2024
338,638
85,551
488,449
26,080
338,638
85.551
643,992
28,012
64,674
78.297
1,239,164
155,543
1,932
84,674
78,297
300,446
938,718
Yearlo 31
March
2023
Direct
Support
Consultant5
Educational materials and data
Staff costs
Depreciation
IT costs
Other support costs
Total expenditure 2023
328,744
94,057
564,174
22,613
328,744
94,057
757,483
31,280
42,723
74.9S7
1,329,234
193,309
8,647
42,723
74,967
319,646
1,009.588
Tower Hamlets Education Partnership 19

Notes to the financial statements Year to 31 March 2024
Support costs
Year to 31
March
2024
Year to 31
March
2023
Premises costs
Staff costs
IT costs
Depreciation
Other expenses
Governance costs
Audit and accountancy fees
38,582
155,543
64.674
1,932
17,075
38,371
193,309
42.723
8,647
14,731
22,640
300,446
21,865
319,646
Net expenditure
This is slated after charging..
Year to 31
March
2024
Yearto31
March
2023
Operating lease costs
Auditor's remuneration..
Statutory audit
Other services.. Accounts preparation
33,967
33.967
9,150
1,600
8,625
1,540
Staff costs
No individu8ls were directly employed by the charitable company during the year (2023
none). Staff costs below represents the costs of individuals seconded to the charitable
company and other staff costs including agency staff, during the year..
Year to 31
March
2024
Yearto 31
March
2023
Wages and salaries
Other staff costs
Social security costs
Pension costs
479,983
18,177
57,644
88,188
643,992
564,393
19,108
72,157
101,825
757,483
The average number of staff during the year, calculated on a headcount and full-time
equivalent basis was as follows..
2024
2024
FTE Headcount
2023
2023
FTE Headcount
Seconded staff
Tower Hamlets Education Partnership 20

Notes to the financial statements Year to 31 March 2024
6 Staff costs (continued)
The number of staff who earned £60,000 or more during the year (including taxable benefits
but excluding employer pension contributions) during the year was as follows..
2024
Number
2023
Number
£60,001- £70,000
£70,001- £80,000
£80,001- £90,000
£90,001- £100,000
£130,001- £140,000
Employer pension contributions respect of the above higher earners during the year
amounted to £57,284 (2023., £95,854).
The key management personnel of the charitable company in charge of directing and
conlrolling, running and operating the charitable company on a day-to-day basi5 comprise the
Trustees and the Executive Team. The total remuneration (including laxable benefits,
employerfs national insurance contributions and employers pension contributions) of the key
management personnel for the year was £379,53512023'. £481,129).
7 Transactlons with Trustees
No Trustees were remunerated for services provided as Trustees (2023.. none). During the
year, no Trustees were reimbursed expenses (2023.. none).
Owing to the nature of the charitable company's operations and the composition of the Board
of Trustees being drawn from local public and private sector organisalions, transactions may
take place with organisations in which a Trustee may have an interest. Membership
subscriptions and services paid for by member schools in which a member of the Board of
Trustees has an interest are on an arm's length basis and amounted to £23,062 12023,
£19,984). Supplier paymenls of £10,173 (2023.. £6,182) were paid on an arm's length basis
to member schools in which a member of the Board of Trustees has an interest.
One Trustee is appointed on the basis that they undertake the role of Director of Children's
Services for the London Borough of Tower Hamlets. In their role with the London Borough of
Tower Hamlets they have the ability to influence Iransa¢tions be￿een the London Borough
of Tower Hamlets and the charitable company, subject to such further review and approval as
the London Borough of Tower Hamlels may require. In view of the potential conflict of interest
(which has been considered and authorised by the other Trustees in accordance with the
Companies Acl 2006), the other Trustees of the charitable company review and approve
transactions with the London Borough of Tower Hamlets. Transactions with the London
Borough of Tower Hamlets during the year were as shown in the table which follows.
Tower Hamlets Education Partnership 21

Notes to the financial statements Year to 31 March 2024
7 Transactions with Trustees (continued)
Year to 31
March
2024
Year to 31
March
2023
Income..
Commission for school improvement and other funding
Other
Expenditure:
Staff and related costs
Premises and other expenses
450,091
407,288
625,937
44,696
738.375
47,780
Amount receivable at 31 March
Amount payable at 31 March
22,404
291,933
14.900
178,757
8 Taxation
The charitable company is a regi51ered charity and therefore is not liable for income tax or
corporation tax on income derived from its charitable activities, as il falls within the various
exemptions available to regislered charities.
9 Tanglble fixed asset$
Computer
equipment
C05t
At 1 April 2023
Additions
Disposals
At 31 March 2024
110.314
2,780
153,541
59,644
Accumulated depreclation
At 1 April 2023
Charge for the year
Disposals
Al 31 March 2024
67.352
28,012
153,5411
41.914
Net book value
At 31 March 2024
At 31 March 2023
17,730
42,962
10 Debtors
2024
2023
Other debtors.. Local authority and other funding
Trade debtors
Prepayments and accrued income
22,404
40.960
16,046
52,538
9,823
78,407
63,364
Tower Hamlets Education Partnership 22

Notes to the financial statements Year to 31 March 2024
11 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
VAT payable
Other creditors
147,806
166,376
20,247
18,374
3S2,803
206,074
216.886
17.656
440,616
12 Restricted funds
The funds of the charitable company include restricted funds comprising the following
balances held on trust to be applied for specific purposes.
A11
April 2023
At31
Expenditure March 2024
Income
Stsnding Advisory Council on Religious
Education
Post 16
1,000
8,000
9,000
11,000)
(8,000
19,0001
The Standing Advisory Council on Religious Education {SACRE) funding was
received from Culham Sl Gabriel's Trust to fund the Lived World Views project which
was undertaken by a THEP consultant on behalf of SACRE.
The Post 16 funding was received from the Local Authorily lo set up and run post 16
subject ne￿OrkS for school staff.
13 Lease commltments
The charitable company occupies its premises under a licence issued by the London Borough
ofTower Hamlets and at 31 March 2024 the total related commitments under non- cancellable
terms were as follows:
2024
Land and
buildings
2023
Land and
buildings
Amounts due..
within one year
8,492
8.492
8,492
8,492
Tower Hamlets Education Partnership 23