REGISTERED CCIMPANV NUMBER: 00601049 IEn8lond and Wales? REGISTEREO CHARITY NUMBER: 248226 REPORT OFTHE TRUSTEES AND CONSOLIDATED FINANCIALSTATEMENTS FOR THE YEAR ENOEO 31 AUGUST 2023 FOR THE IMSnTLrrE OF LEADERSHIP (FORMERLY THE INSTrruTE OF LEADERSHIP AND MANAGEMENT) J W Hlnks LLP Chartered Accountants and Statutory Auditors 19 Hi8hfleld Road Ed8baston 8lrm1harn 815 3BH
THE INSnTifTE OF LEADERSHJP AND MANAGeMENT CONTENTS OF THE CONSOLIDATED FINANCIALSTATEMENTS FOR THE YEAR ENOEO 31 AUGUST 2023 R•wrt •fth• Trurt••s R•port otth• IndepEnd•nt Audlttxi 9 t¢ 12 Iithi•d Statement Of Fln•ncl•l A¢tIv1¢s 13 ConlI•t¢d an¢t Sho•t 14 Par•nt Ch•rbty O•l•nc• Sh••t 15 Con501kl•t•d Flow St•t•m•nt 16 14ot•stoth• Con%lld•tsd Cash Flow Stit•m•nt 17 Notti to th• Fln•ncl•l St•l•m•nti iu to JU
THE INSTITWE OF LEADERSHIP (REGISTERED NUM8ER: 006010491 REPORT OF THE TRUSTEes FOR THE YEAR ENDED 31 AUGUST 2023 The trustee5 who are also directors of the chadty for the purposes ol the Companie5 Act 2(KJ6, present their report wlrh the financial statement5 of the charity for the year ended 31 August 2023. The tNstÈè5 have adopted the provislons of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparln8 thelr accounts in accordance with the Financ4al Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeciive l January 20191. OBJEcnvES AND AlTIEs ObSertl¥e5 gnd alms The objectives for whlch The Instltute Is established are'the promotion and development of the science of managément. and the advancement of education Involving the study of the skllls of leader5hlp and management" The Instltute Is dedlcated io advancln8 the capabillty ol managers and leaders worldwlde throu8h the provlslon of tallored lèarnin8 resources, and by developin8 and supporting a global lèadership and management cornmunliy throts8h Its membershlp servlces. The core actlvitiès of the Institute are the provislon of learThln8 re50urce5. the operatlon of St5 mernber5hlp proposI15on and the curation of research locused on pra¢ticing leaders and man&ger5. The Institute offer5 a range of resouries coverin8 fflana8ement, leadership, coaching and mentoring, business and enterprise, and speclallst area5 (for example. flnancial services, military* education and charlty 5ertor 5UPPOrtI, all of which are almed at developing people skllls, knowledge and understanding to improve performance at work or In Society at large. The Instlrute offers prolesslonal member5h5p which recogn15es the talent5 of leaders and managers at dlfferent stages In thelr career. Mernber5hlp provldes professlonal reco8nltlon, èccÈss to a bespoke onllne leèrnlng envlronmeni
THE INSTITUTE OF LEADERSHIP (REGISTERED NUMBER: C01049) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST2023 5TK4TEGIC REPORT Achlevement and performanco With the tail-end of the Covid-19 pandemlc fadln8 (albeit reluctantly. apparently) Into mernory lor Most people, vary(n8 expeuations of'a return to Business A5 Usual, emerged. None wer2 r2ali5ed. Domestically, a roller<oaster ride lor the already-Emb8ttled UK economy- bur8eonin8 inflation., a parade ol political 5canda15 involvin8 three Prime Ministers in as many month5., the dealh and succession- of a Monarch., all against a DacK8rouna or Tne on8oing cosr-or-iivin8 pressure5. Internationally, we saw the continuation ol a major European war,. the rlse ol soclal and political unrest #¢r¢5S the world,. increasingly polarised pollllcs,. tensions arising between USA and China.. economic crises Hnd arrned conllict in several Luuiiliie5.' d sLulL¥iiiix glvbal eioiioii)y,' and a general Iatlse tliat seeined to grip rnedia aiid pundlts almcst everywhere. It would be unsurprislng to see depressed performance amldst such a context, yet despite innumerable examples ol parlous leadershlp In polltical and economlc sphere5, Ilfe as well as le3der5hip- 8oe5 on. and duriry FY23, The In5tStute both kepr pro8ressln8 and made some profound strate&lc changes. The Ilrst of thése was the acqulsStlon ol the simllarly-55zed ABE Global In early 2023, a nol-lor-profit 5k5115 development specialist and Ofqual-re8ulated awar(Jlng organisation. ABE provide5 internationally reco8nised 4ualilicètlons In buslness, entrepreneurship and employability. With an emphasis on internatlonal markets, and with a customer base clustered round young peoplt and early-sta8e leaders, AaE is the perfect lit forThe Institute. This mutually-advanta8eou5 aCqUi51tlon enables The Institute to benefit from ABE'5 talent for qualifications development. and for ABE learners tD access ihe loL cornmunity that will support their future leadership journey. With more than one million alumnl worldwlde, ABE wlll also enable The Institute to 8row our community of leadershlp practlce further, by bringing additional value to A8E alumnl. The second strate8lc move was Implementlng our change of name, confirmed at our last AGM Sn March 2023. A8aln5r a51 expectatjon, the name change went relatlvely 5rn00thly. comin8 as It dSd with a change In our inrernet domaln name and ernall addresses. all adoptln8 the'leadership.8lobal' label. Members were 8enerilly happy wlth the chan8e. not least becausE It was relatively li8ht-touch, and the short-form 'loL' for Institute ol Leadership has been adopted by most 111 not all..11 of our Members and parrner5. The thSrd and equally Visible strate8ic innovation has been the e5tabli5hment of a serles of 'anchorf event5. to support The Institute's brand presence. Launchin8 the year with our 75 Ann5versary Ptouse ol Cornmon5 event an¢S accompanyln8 Anniversary Edition of EDGE gave us momenturn right at the start of FY23. We then turned International Leadership Week 2023 into a truly global initiative, with our brand promoted by or8anisations on six continents Iwe didn't make Antarctica yetl. aThd the intention is to continue with that ILW model, amassing advocates Worldwide. Reinforcing that success was our first sizeable conference, 'leader5hip Live 2023., held in June, and attracting exhibitors, sponsors and speakers from around Europe 3nd beyond. M05t important about IIW ènd leadership Live is thelr contrlbution to year-lon8 series of events, wlth our second House of Comrnon5 event malntaSning the momentum Into the autumn. culmlnating In our flr5t ever Leader5hlp Awards in November 2023. That series exempllfies the shlft In The Instltute durinB the last thfee years, and iri particular since rhe start ol FY23. The scale of our ambition on behalf ol our Members has 8rown beyond compare, and we now see the opportunlty to brand vour Institute as the premier leadershlp cofflrnunity of practice a5 we head towards the second quarter of thi5 milleniurn. The acquisition ol ABE. the streamlinin8 of our name and brand, the momentum gained from an annual 5erie5 of Increasingly hi8h-prolilE events, all serve to attract attentlon, en8agement and reco8nitlDn from individua15 and or8anisations around the world. Throughout FY23. the Team at The Institute have been stahNart in their resilience. and ever rnre energEtic and innovative in the development of ideas and initiative5. The whole Team has pulled together to continue rnornenturn and produce a new and refrEshin8 ener8V that has carried over into the current financial year. Page 2
THE INSTITUTE OF LEADERSHIP IREG15TERED NUMBER: t1049) REPORT Of THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST2023 Achlevement and perform¥nce FY23 has been a watershed forThe Institute, and we have begun laylng the foundarlons for confldent 8rowth over the next 75 years. brin8in8 to our Members even more relevant content, even more beneficial opportunitiès, and even rnore valuable connections, from an Institute which our Members own, and of whlch they can feel tiuly proud. Flnantial review Flnancl81 poslilon A Summary of The Institute's Ilnances Is set out in thè attached financial Statements for the year ended 31 August 2023. The prlncipal source of income for The Instltute Is from membership income. After makin8 appropriate enquiries, the trustees have a reasonable expectatlon that The Institute has adequate resources to continue In OPEratlonal ex15tence for the foreseeable future. For thls reason, they continue to adopt the golng concern basls In preparin8 the Ilnanclal statements. Charltable income amounted to £3,515,86612022.. £2.091.2431. an 5ncrease on the previou5 year and Investment income amounted to £348,24312022'. £330,040). Expendlture for the year totslled £3,959,67412022.. £2,252,806), representln8 a $18nificant rèduction. The movement In net resources for the year resulted in a dellclt of £380.85412022.. deflcit of £437,203) after allowlng for net losses on invesimenis of £285.28912022: net105ses on Investments of £605,680). Total unrestricted funds amounted to £12,603,42512022.. E12,984.2791 a5 at 31 August 2023 with Ilquid reserves (net current assetsl of £1.141,049 12022.. £1,829.0431. The maloflty ol intan8ible fixed assets 01 £292.43912022.. £188.2641 reprcseni m8naBershlp. Prlnclpal fundln8 souree$ The prlnclpal fundln8 sources for The InstStute are ¢urrently by way membershlp Income from Its members, partnershlp and Institute approved Income and Investment income from Its Ilsted Investrnent portfollo. R•s•rv•s poll¢y The Institute's target 15 to hold sufficient free resèrves to fund It5 actlvltle5 In the event of a major fall In Income or an unforeseen increase In expenditure, and that these reserves should equate to 12 months planned operat5n8 expendliure forthe comln8 year, based on a ran8t of rnonthg over the year. Whèn reviewing the reserves positlon, consideration 15 a150 8iven to whether lund5 should tse deslgnated to cover expendlture on specific capital and other project5. There are currently no desi£nated funds. The value of free reserves Is calculated by takin8 total fund5 exclusive of tanBible and intangible assets. On that basis the value of free reserves at 31 Au8USt 2023 was £12.635.55412022.. E12,984,2791 and equated to $7 months expenditure 12022.. 69 months). The levels ol reserves are a feature of the full separatlon of The Institute from the Crf(v & Guild5 Group nd not a result Df long-term accumulatlon by desl8n or neglect. 5fRucfuRE. fjOVERNAN AND MANAGEMENT Go¥ernln8 do¢um•nt The charity is controlled by Its 8overnin8 documeni. a deed of trust, and c(Institutes a Ilmited company, Ilmired by guarantee. a5 defined by the CompanSes Act ZOO6. On 30 March 2023 8 special resolution wa5 passed chan8inB the narne ol the organlsatlon from The Instltute of Leadershlp nd Management to The Institute of Leadership. Page 3
THE INSTITUTE OF LEADERSHIP IREGISTERED NUMBER: (Th010491 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGusf 2023 sTRuvRE, GOVERNANCE AND MANAGEMENT Charlty constltutlon The Institute was formed under a Memorandum of Association dated 3 March 19S8 land subsequently amendedl anLI Articles of Associèiion adopted on 28 June 2018. The Memorandum of A450ciation and the Articles are tO8ether deserlbed In this report as 'the constitution Under the constltijtlon, thp Board is requlred to Issue Bye.laws In rg.latknn to 50mp rnatter5, ha5 the 5peclflc power to issue othefs, and may in addition issue any whlch it deerns nece55ary. txpediènt or convenlent lor the proper conduct and management of The Instltute. A5 at tlie year ¥ii(J. ByeldW5 iii lurLe r¥loLed iu MeiTilJeislilyi Sludylii¥ MeiiiiJ&r&lbivi Election ol Dlrectors, Facult5es, Advlsory Groups and Re8ular Members. Re¢rultm•nt arKI appolntment of new tr115tees As The Inslitute is both a charity and a company, members ol the Board are both charlty trustees and company Oireclors. The 8oard consists of Directors, who are elected by the Voting Members. Inarnely the members of The Instltutel. The number of Olrectors may be altered by a General Meeting of member5. Or8•nlsatlonal struciure and de¢lsSon m•klnK The 8oard is requlred by the constitution to ensure that The In5titute'5 bu5ine55 Is ¢ondu¢ted In 8ccordance v41th Its r.harltabl? nhjo.rtiv?s. Thp. Bnard Is legally responsible for the governance and mana8ement of The Institute. It play7 strateglc role and. In thls context. considers and approves The In5tltute'5 annual buslness plan, and Is aci5vely Involved In any proposal IDr chan8e to Ihe consrltution or Byelaw5. In thelr dellberatlons in relatlon to The In5tltute'5 aims. str3te8V, objectlves and actlvitles, the Board has due regord not only to The Instltute's charltable purposè t èlso to the guidance on publlc benefit pub115hed by the Charlty Commission. The Board sets and revlews The In5tltute's reserves Jnd investment pollcies. and regularly monitors the performance of the invesrments. It approves and monitors compliance with other policie5. in particular the health and salety pollcy. Executlve management is delegated to the Chlef Executlve, who pSentS regulJr report5 to the 8oard to enable it to monitor the flnancial performance of The Institute and Its Pfo8ress toward5 meetlng It5 Strategic oblectlves. The Chlel Executlve Ss supponed by a senlor manaBement team whose role5 cover all aspects of The In5t5tute's eurrent operations, Its research and F)olicy activities, mernber5hlp. finance and buslness admlnistration, markeiln8 communlcaiions anil busine55 development. Indu<tl•n and tr•lnln8 ol new trust••s 8oard-related pollcle5 are reviewed accordin8 to a schedule approved by the Board, and cover Induction, development, evaluation, conflicts manè8ernent. and matters reserved to the 8oard. The induction pro8ramme lor new dlrectors brlels them on The In5titute'5 business and linancial affalrs and the dutles of company directors and charity trustee5 through combination of a dedicated induction se55ion, inductioti pack ond meetin8S th key personnel. The director'5 training need5 are addressed throu8h a self-a55essment skills matrix, external 5erninars. briefin8 paper5, coufSES and as part of the normal cycle of Board meetings, and a Ooard evaluation process 15 carried out annually. Board members do not receSve any personal benefit5 unle53 there is IE8al authority for this. Any related party transauions are reported In the Annual Report and Financial Statements. Page 4
THE INlTuTE OF LEADERSHIP IREGISTERED NUMBÉA: 006010491 REPORT OFTHE TRUSTEES FOR TrIE YEAR ÉNDED 31 AUGUST2023 STRucfuRE. GOVERNANC£ AND MANAGEMEr K•y man•B•ment remuneratlon The Institute's Board determine the rerruneration and contractual conditions for the Chlel Executlve and oversee the variable muneratIon of other key members of the In5tltute's mana8ement team. tzking into account market condltions and development needs lor The Institute. The Instltute provldt5 a remuneration package including 8 basic salary. perforrnance-related bonus, company car, life a5suiance covei, prlvate medical insurance and parricipation in The Instltute's siakeholder pension scheme. Pa8e 5
THE INSTITUTE OF LEADERSHIP IREGISTEREO NUMBER: 006010491 REPORT OF THE TRUSTEES FOA THE YEAR ENDED 31 AUGU5T2023 STRUCTURE, GOVERNANCE AND MANAGEMENT f115k rnan¥&ement The Director5 keep under re8ular review. the risks to which The Institute is exposed and seek to lirnit their irnpact by adoptin8 appropriate measures and monitoring thelr implementatson. The Institute's H15k Ilegister recor(15 fisK5. ttheir Inherent ano residual ratings ana mitigation measure5. 1 ne Kegisters are artively monitored by the Board. Risk and Finanp.e Commlrtpe and Senior Leadership Team alnng with the Chief Executlve. Ali updated Risk Reglster. whlch track5 the movement of r15k, 5s available to The Instltute's Board at every Doard meetln8. The strate8lc rlsks facln8The Instltute are under constant revlew, with key rSsk areas havlng been Identllled as folbws: Flnancial.. ralsln8 the Income of The In5tltute to ensure the lon8-term 501vency of The Institute and the tar8eted achievement of charltoble object5. Reserves.. safe8uardln8 the real-terms value ol financial reserves throu8h diligent asset management. Environmental.. re5pondln8 to soclo-economlc changes In respeci of tradlonal rnember5hSp partlcipatlon to ensure on80illB en8a8ernent with our misslon. Reputatlonal.. safe8uardin8 the reputatlon of The Institute from unprofesslonal, unethical or crlmlnal behav5our5 of staff or rnembers. . Wellbeing.. ensurlng the safety. health and mental health ¢f staff and volunteers en8a8ed in the wor* of The Instltute. Investment In new products, services, systems and processes contlnues to be made to 5UPPQrt the on8oin8 delivery ol The In5titute'5 mission and enable the revenue Erowth needed to reach a more sustainable tradin8 Posltion. In additlon to these princip81 rlsks, The Instltute 55 sublect to the same general financlal and operational risks as other enterprlses. The only material financial Instruments held by The Instltute are investments and debtors. The market risk pert?Ining to the Investment portfolio Is mana8eiJ by CCLA but the Investment pollcy and budBetlng proce55 are such that The Instltute's exposure 10 cash flow r15k Is minimised. The credit rlsk rel?tln8 to debtors Is low 8lven that the balance represents a few relatlvely low volume item5 and a debt from thè City & Guilds Group. The Institute has no lon8-terrn borrowinBs and therefore liquidity r¢5k 15 rninimal. In relatlon to managing price risk, prices of materials purchased are subject to contracts with suppliers. based on current rnarket prices. Ri5k5 pertoining to suppliers are considered IDW and managed by following a robust procurement and CDntractinR proces5 and monitoring of performance during the life ol the contract. Salary costs are communicated to staff during the formal annual review of salarie5. The Institute operates a third-party auto-enrolment pension scheme and does not share In any pension liabilitv. The Chief Executive has responsibillty for en5urln8 that mltl8ation rneasure5 a taken and reporting the positlon to the Board, The Directors are satisfied thar approprlate actlon Is bein& or will be. taken to manage the strategie and operational risk5 which lace The Institute. Page 6
THE INSnTUTE OF LEADERSHIP IREG15TERED NUMBER: 1x16010491 REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 REFERENCE ANDADMINISTRATIVE DETAILS Registered Company numb•r 00601049 IEn8land and Wales) Re8lstered CharV number 248226 81steied offl 19 Hl8hlield Rtsad Ed8baston Birrnin8harn B15 3BH Trnstees A 8 Kincaid J Malawana C Fl Mcnair R Rlehardson Ires5gned 30.03.231 E L Robinson-Green N l Ryletr-jones S Playlord (appointed 24.8.221 M Adjei-Tèbirade lappoiThted 30.03.231 S F Fox (appointed 30.03.231 Comp•ny Settetary M C Roblnson Audltors J W trflnks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Ed8baston Blrmingham B15 3BH Sollcltors Pennington Manches LLP 9400 Garsington Road Oxford Buslness Park Oxford OX42HN Page 7
YME1145nTUTE OF LEADERSHIPIREGISTEAED NUMBER: 01049} REPORT OF fHETRUSIEES FOR THE YEAR ENDE031AiIGVST 2023 lIEFEREN AND ADMINISYRAnVEOEfAS Invq*menl advknri CCLA senator HOLrse 85 Queen Vlctorla Sireet London EC4V 4ET STATEMENTOFTRUSTEES, RESP01451BlUf The trustee5 (who are a150 the dlrectors of The Instltyjte of Leadershlp for th• purposes of cornpany lawl art rtspffisible for prepBrln8 the Report of the frustees and the fln8nclal st&tements Jccordbnce wlth aPp1kle law and ned Kin6dorn AccountSn8 StandDrds (United Kingdorn Generally AcceptedAttountlni Practlcel. Cgmpany 18w requlTe5 the trustees to prepare flnan£l•l statsments for each ftn•n¢lo1 year whlch glve a true and f&r vlew of the state of affalrs of ihe char¥ble company ond of the Incom5n8 resourtes ind appllc4tlon of resources, Includlng the Income and ixp•ndliure. of th2 Ch•r¥ble ¢ompJny for thit pvrfod. In prewrtft8 those fln•nclal statsrnents. the trusteès are fequlred to $ele£t suttable 4ccounUn8 polkles and th¢n appty thern conslst•ntly, observe the rnethod5 8nd prlnclples in thechèrlty SOAP. makejud8ernents and estimates that are rea50nablE and pNdent' state whether Jppllcable accoundni stèThd8rds h4v• baen followed. wblert to any mat¢rl•l departures dlstlos•d and expl8lned In the flnanclal ststernents,. prepare the Ilnanc5315taternents on the 105n8 conwn b4sts unless It Is Inapproprlate to prUrne th• ch•rIt•t mpany wlll contlnue In buslness. The trustee5 are respotsslble for keepln8 prnper •ccountln8 recrrfds Yrfhlch dlscbs• wlth re•son•ble •ccur•cy 8t dw tlme thè flnancial pos10 ol the chor5t4ble company •nd to enable them to eThsur¢ that the financlil statements comply wlth thè CDrnpanles Act 2006. They are also re5ponsltJle for safeguardlng the assets of the charltable compaw and hence for tèkln8 reasonabl• 5reps for the praventlon and detectloTr of frawj and otherlrresul•rlties. lm $0 f4r os thotfusiee5 bre8waTe'. there Is no relevant Infom[0 of whlch thetharltabla •udlt•rs •r• vn4w•r•.' an41 the twste•5 h•v• t8ken all step5 that they ou8ht to hove taken to make themselves gware of any relevant aud Inforrn8tlon and to e$tabllsh th•tthe aud6tOf5 Bre aw8reof th•t Infwmotlon. AUDITORS The audltors, J W Hlnks LLP, wi15 be proposed forfe-•ppointmeTrt the forthcomlnl Annual Gtrttral MÈÈtln8. Report of the trustee$, inrorpora¢ln8 a strate8k report approved by order of the b¢Mrd ol trustees, the company dlrertors, on 15 Oecembs 2023 ènd SIed on the board's behlf by: E LRobinson-Grepn. Tru5te• Page 8
REPORT OF THE INDEPENOENT AUDITORSTO THE MEMBERS OF THE INSTITUTE OF LEADERSHIP Oplnlon We have audited the flnancial statements of The Institute of Leadership (the 'parent charitable company'l and its subsidiaries Ithe 'group'l lor the year ended 31 August 2023 which comprise the Consolidated Statement of Financlal Activities, the Consolidated Balance Sheet, the Parent Charity 8alance Sheet. the Con501idated Cash Flow Statement and notes to the financial ststements. includlng a summary of si8nificant accountlng pollcles. The financial reportlng framework that has been applied in their preparation Is appllcable law and United Kingdom Accountlng Standards IUnitEr* Kingdom Generally Accepted Accountin8 Practicel. In ouropinion the flnancial statement5'. Blve a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 August 2023 and of its Incoming resources and appllcatlon ol resources. including Its income and expenditure. for the year then ended.. havè been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wlih the requlrement5 01 the Cornparbies Act 2006. Basls for oplnlon We conducted cur audit Sn accordance wlth International Standards OD Audltlng IUKI IISAS IUKII and appllcable law. Our re5ponsibllltie5 under those standard5 are further described In the Auditors, re5pon5ibllities for the audli ol the flnanclal statements section of our reporr. We are Sndependent ol the charltable company In accordance wlth the ethlcal requirements that arè relevant to our audlt of the linanclal statements in the UK, Includln8 the FRC'S Ethlcal Standard, ond we have fulfilled our other ethical responsibilities In accordance with these requirements. We belleve that the audlt evidence we have obtained is sullicient and appropriate to provide a basls lor our opinion. C41ncluslons relatlni to)ft8 roncern In auditlng the financial siatemenis, we have concluded that the trustees, use ol the 8oing concern ba515 of Jccountin8 In the preparatlon of the flnanclal 5tatement$ Ss approprlate. Based on the work we have performed, we have not identllled any materlal uncertaintles relatlng to events or condltlons that, individually or collectlvely. may cast s18nllicant doubt on the charitable company's abllity to contlnue as ¥ golng corscern for a perlod of at least twelve rnonLh5 from when the financlal statements are authorlsed for issue. Our responsibilitits and the responslbllities of the trustees wlth respect to 80ln6 concern are de5crlbed ln the relevant 5ectlons of this report, Other Informatlon The tru5tee5 are responsible lor the other Information, The other informatlon comprises the information included in the Annual Report. other thaTh the financial statements and our Report ol the Independent Auditors thereon. Our opinion on the financial statements doe5 not cover the other information and, except to the extent atherwise explScltly stated in our report. we do not express any form of a55urance conclusion Ihereon. In connection with our audlt of the flnancial statements. our responslblllty Is to read the othEr infcrmation and, in doin8 so, consider whether thÈ other informatSon Is materially inconsistent wlth the flnancial statement5 or our knowledge obtained the audit or otherwise appears to be materlally misstated. If we identify such material inconsistencie5 Of apparent rnaterlal mi55tarements, we are requirèd to determine whether this 8l¥es rise to a material rnis5tatement In the financial statements themselves. If, based on the work we have performed, we conclude that there ig a material ml55tatement of this other informatlon, we are required to report that fact. We have nothlng to report in this regard. Page 9
REPORT OF THE INDEPENOE14T AUDITOBSTO THE MEMBERS OF t i eA JCE¥•P Oplnlon5 on other matt•rs pr4$crfb•d by th• Companles Art 211 In ouropinlon, based on the work undert3ken in the course of the audit.. the information given in the Report ol the Trustees for the financial year for which the flnancial statements are prepared is con515tent with the financial statemenrs,. and the Report of the Trustees has been prepared in a£cordanee with appllcable legal requirements. Matters on whlch we am re9ulred io report by exceptlon obtained in the course of the audit, we have not Identified maierlal mlsstatement5 in the Report of the Trustee5. We have nothln8 to port In respect of the following rnnttcrs where the Companler Act 2¢X16 requSre5 US to report to you If, In our oplnlon.. adequate accountlng records have not been kept or retum5 adequate lor our audlt have not been received from branches not vlslted by us,. or the flnanclal statements are not In agreement with the accountin8 records and returns,. or certaln disclosure5 01 tru5tees' remuneration speclfied by law are not made.. or we have not received all the information and explanat5ons we require for our audit. R•sponslbllltles oltrust*ès A5 explained more lully In the Statement ol Trustees. Responsiblli¢les. the trustees (who are also the dlrectors of the ¢haritoble company for the purposes of company lawl are responsible for the PparatIOn of the flnancial statements and for bEin8 satisfied that they 8ive B true and falr v5ew, and for such internal control as the trustee5 dÈtermlne is necessary to enable the preparation ol financial statement5 that are free from materlal misstatement, whether due to fraud or error. In preparln8 the flnancl81 staternentS. the tfustees are responslble for asse551n8 the Group'5 and parent charitable company's abllity to continue a5 a 8oin6 concern. disclosin& as applScable, matters related tD 8oln8 concern and uslng the 80in8 concern basis of accountln8 unle55 rhe tru5tee5 either Sntend to liquldate the Group or charitable cornpany or t¢ tease operntlons, or nave no reallsiic akernatlve but to do so. Page 10
REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF THE INSTITLWfE OF LEADERSHIP Our fespon51bllltl•sforihe ludh ol thè financlal statements Our objective5 are to obtain reasonable assurance about whether ihe finantial statements a5 3 whole are free from material misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a hi8h level of assurance but Is not a Buarantee that an audlt conducted In accordance wilh ISAS IUKI will alway5 detect a material misstatement when it exists. Mis5taternent5 can arise from fraud or error and are considered material il. individually or in the aggregate, they could reasonably be expetted to influence the econornic deci5i0n5 of users taken on the basis of these financial statements. Irregularltles, Includin8 Iraud, are Instances of non-compliaTrce with laws and reRul&tfjons. We desl8n procedures in line wlth our responsibilltie5, Outlined above, to detett materlal mi55tatement5 in respert of irregularities, includlng fr8ud. The extent to wh5ch our PredureS are capable of detectln8 irre8ularitles. Includi fraud. is detailed below. We Identlfied areas of laws and regulatlons that could reasonably be expetted to have a materlal effect on the flnanclal statements and di5CUSsed the policle5 and procedures re8ardln8 compllance. Spe£lfic area5 coThssdered were Js lollows: Enqulrin8 wlth mana8ement and other5 to gain an understandin8 of the or8anis8tlon itself Includin8 operatlcn5, flnanc5al reportlng and known fraud or error. Evaluatin6 and understandin8 the internal control systern. Performln8 analytical pro£edure5 as expected variances in account balances or classes of transactions appear. - Testing documentation supportlng account balance5 or cla55es of transactions. CMin8 to the Inherent limStations of an audit, there is an unavoldable rlsk that we may not have detected all Irre8ularitles includln8 those leadln8 to materlal mlsstatements In the flngncial statements or non-compliance wlth re8ulaiion. even thou8h we have property planned and performeLI our audlt in accordance v41th audltlng standard5. Thls risk Increises the more that compliance wlth a low or regulation 15 removed frorn the events and iransactlons rellected In the flnanclal statements, as we wlll be less likely to become aware of Instances ol non-compllance. The risk Is also 8reatei re8ardin8 irre8ularitie5 occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, colluslon, 0rn1sslon or misrepie5entatlon. A further descrlption of our re5pon5ibilities for the audlt of the fSnancSal statements is located on the Financial Repcrtins Council'5 website at www.frc.or8.uk/audltorsresponsibilities. This descrlption forrns part of our Report ol the Independent Auditors. Page 11
REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF ThE It45TITUTE OF LEADEF15Tr11P Use of our repon This report Is made solew to the charitsble company's members. as a b)dy. in aceordance wtth Chapter 3 of Part 16 of the Companie5 kt 2C116. Our audlt work has been undertaken so that we rni8ht State to the charitable company's members those matters we are required to slate to them in an auditors. report and for no other purpose. To the fvllest extent pemiitted by law, we do not accept or 355ume respon51bllfty to anyone other than the charltable company and the charitable cornpany'5 member5 05 • b¢th, for our audit worl forthls rewrt, or forthe oplnions we have formed. James Cruse ACA, FCW Bsc (Econl Hons (Senior Statutory AudStor for and on behalf of I W Hlnk5 LLP Chartered AccguntJnt5 and Statutory Audltors 19 Hlghfield Road Edgbaston 8irmin8ham BIS 3BH IS DKember 2023 Page 12
THE INSTITUTE OF LEADERSHIP CONSOUDATED STATEMENT OF FINANCIAL ACTlVftlES FOR THE YEAR ENDÉD 31 AUGUST2023 2023 UnrestrlrtEd lunds 2022 Totsl fvnd5 Notès INCOME AND ENDOWMENTS FROM Donations and le8acies Ch•rltabl• artlvtfi Mernbership and exarninatlon Other 3,040W2 475,024 1,703.664 387,579 Investrnent Income 34B243 330,040 Total 3J64.109 2,421,283 EXPENDtWRE ON Ch•rlt•bl• •£tlvltlE5 Membership and examlnatlon Other 3,063,171 896,$02 1,830,578 422,228 Tot•1 3,959,674 2,252,806 Net Ilossesl 18aln5 on investment5 285,2891 605,6801 NET IEXPENDttUREI I INCOME 1380,8541 1437.2031 RECONQUATION OF FUNDS Total lunth brou8ht forward Jl.984.279 13,421,482 TOTAL FUNDS CARRIED FORWARD 12,603A25 12.984,279 The income of the parent charitywas £2,567.99712022', £2,390,235I and the operat5n8 deflcit lor the yearwas £348,725 12022.. operating deficit of £437,203). The Consolidated Statement of Financial AttivltSes Include5 all 8aing and losses reco8nlsed In the year. The nores forrn part of these financial statements Pa8È 13
TIIEINSTITL•TE OF LE*I>ERSHIP (REGISTEIIED NIIMBER: 0060XWI CONSOLIDATEO BALAN(E SHEET 31 AUGUST 2023 2023 UnresNlct•d 2022 Totttl funds Note5 FIXEO ASSErs Intanglble 855ets io 292N39 10025 II177A19 188,264 4,264 10.962.708 Investments 12 IiA80.6 CUARENT ASS Debtors.. amounts f)Ilin8 due wlthin one year Debtors.. amounts f&llln8 dug after morethan on• yeor Current a35et Investments Cash at bank 11,155,236 13 &Z78AOO 80L607 13 5WOOO 4.576 1.226NJI I,o)o.( 1.272,110 1009A07 REDIY0115 Amounts fallln4 due wlthln one ye4r 3,073,717 14 11,868,3381 11,244,674) NEY CURRENT A15 141,049 1,829,043 TOTALASSETS LESS CURRENT UABIUTIES 1162L733 12,984.279 AEDITOAS Amounts fallln8 du• In more than one ye•r 15 118J08) 42S 12.984,279 FUND5 Unrestikted funds.. General fund D¢sl8n•tEd fund 17 10.570,106 2 033,119 12,984,279 TOTAL FUNDS 12A03 425 12,984.179 The financial statements wereapproved by the Board of Trust$ and authorlsed for1$5ue on IS Decemlmr 2023 and were s[ed lis behalf by.. E L Roblfison-Green- Trustee Kln¢•ld-Trustee The nLwform part ofthese finand41 ststements Page 14 continued...
THE IPISTrri)Te OFiEAOERSHIP IREGisfERED NVMOEII.. 006010191 PARENT CHAAITY BAiA•Kf SNEEr JI AUGUST 2023 2023 Unregtrl¢t4d 2022 Total fvnds FIXED ASSEIS Intan8lble as$ets Tat)8lbte issets Investments Noies io li 12 7i746 95 11.177,519 188,264 4,264 10,962,808 CUAREMY Er$ Debtors.. amounts fallln8 due wlthlTr one year Debtors.. amounts falllng duè aftermore than one ve8r Cbsh * bink 112fj0JISI 11,155.336 13 1.603,133 932,128 13 soo.ooo i,cw,co) 178.ln 939 315 CREDITORS Amounts falllng due wlthln one 41 uai,40ffj 2.871,443 14 11,0415C¥JI NEfcuAftENT ASS 874696 1.828,943 TOTALA5SETS LESS CIIRRENTiIABiimu IIA35.554 12,984.279 NEfASSETS 635,554 12,984,279 FUNDS Unre5trlct•d funds.. G•nerql fund Desl8nèted fund 17 iOA02.195 2 033J19 12,984279 TOTAL FUNOS 12 635 SS4 12 984 279 The ftnaTrcl*l st4t•mentJ were appro¥•d byihe of Trustee5 and •uthor&ed for Issue on 15 December 2023 and we $18ned on Its behalf by.. s ptrmltted by $4108 of the Compbnies Att 21x16, the parent cornpèny ha5 not presented Its own profft ond loss account Ind rdated notes. The compan¢s dellclt for the year was E348,72512022- dèftclt of £437,203). E L Rn$On-fjreen. Trustee A O Xlntakl- Trustee The note5 forrn partof these flnancièl Statements P¥e 15 ontlnued...
THE INsrrruTE OF LEADERSHIP CONSOLIOATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Cash Iltr from oper8tiry artiwltie5 Cash generated from operations 337.924 800,144 Net cash provided by oper*ln8 actlvltles 337.924 800,144 Sh lows Irt)m Invertln8 actlvlti•8 Purchase ol Intan8ible fixed assets Purchase of tangible fixed assets Purchase Df flxed asset Investments Sale of limed asset Investments Purchase of 5ub51dlary Cagh acquired wlth subsidlary Capital repayments 180,3211 19.5601 I500)> 114,1001 13.4711 136,1841 246,697 4,2351 Net cash Iu5ed Inllprovléed by Investln8 actlvltles 383,6031 17 5711 Ch•n4• In cash and Cash •qul¥•l•nts In th• reportlThK perlod C35h and ush equk¥•l•nt$ •t th• brflnnl ofth• report1 porlod 145,6791 782,573 l.Z72,110 489.537 Caih and ush equlvalents at the end ol the r•pw¢ln8 porlod 1,226,431 1,272.110 The notes form part of these flnancial statements Page 16
ThE INSTITUTE OF LEADERSHIP NOTESTO THE CONSOLIDATED CASH FLOW STATEMEI4T FOR THE YEAR ENDED 31 AUGUST2023 RECONauATION OF IEXPENDITUREVINCOPIIE TO CASH FLOW FROM OPERATING AcfiviTIES 2023 2022 Net l?xpendlturellln¢ome forthe reportlng perlod las p•r th• Consolid•tÈd Statement ol Fln•n¢l•l Actl¥ltle51 I38054) 1437.2031 Adjustments lor: Depreciatlon charges Lossesllgalnl on investments Ilncreasel/decrease In debtors Increaselldecreasel In credltors 188.412 285,289 1139.0401 384.117 2S2.541 605.680 403,471 24.3451 Net c•sh provld•d by operbtlons 337,924 80e,144 ANALYSIS OF CHANGES IN NEf FUNDS At 1.9.22 sh flow At 31.8.23 14ot Msh Cash at tsank I Z72.110 45 6791 1,226,431 1,272,110 45.6791 1.226N31 Tot•1 1.2n.iio 45,6791 The notes form part of these financial 5tatementS Page 17
THE INSTITLrtE OF LEADERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 1023 ACCOUNTING POLlaES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements ol the charltable company. which 15 a public benefit entlty under FRS 102, have beeTr prepared in accordance wlth the Charities SORP (FR5 1021 Accountin8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reportin8 Standard applK3blp. sn thp UK and Reoublit of Ireland IFRS 1021 lellective I lanuarv 20191,. Financial ReDOrtinR Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Cornpanies Act 2006. The financial Statements have been prepared under the historical c05t convention. with the exception of Inveslmen¢s which are included at market value, as modified by the revaluation ol certain asset5. The Consolidated Statement of Financial Artivities ISOFAI and Consolidated 8alance Sheet consolidated the Ilnanclal statements of the Group and its subsidSary undertakings. The results of the subs5diaries are consolldated on J line-by-line basls. Thè presentalional currency ol these fin4n¢ial statements is Great Brftlsh Pounds IGBPI. All amouTht5 have been rounded to the nearest £1. The company is a company limlted by8uarantee. The members of the cornpany are the Trustees named wlth5n the rrustees Report. In the event ol the cornpany being woun(J up, the liabllity in respect of the guarantee Is Ilmlted to £1 per member of the company. CRITICAL ACCOU14TING JUDGEMENTS AND KEV SOURCES OF ESTIMATION UNCERTAINTY In preparing the financial Statements, the dlrectors are requirod to make Èstimates and assumptlons whlch affect Income. expendlture, assets, Ilabllltles and discI05e contingÈnt assets and IlabS1itSes. Use of avallable Snlormatlon and applScatlon of judgement5 are Snheren¢ in the formatlon ol estlmaies, 108ether wlth past experience and empectaiions of future events that are belleved to be reasonable under the Eircumstances. Actual results in the future could dSffer from such estimates. INCOME All Sncome 55 recognlsed in the Staternent ol Financlal Activ5ties once the charlty has entitlement to the fund5, St Is probable that the Income will be received and the amount can be measured rellably. Income from subscrlption5 15 Included in the period to whlch Ihe subscriptlon relates. Subscriptions paid in advance at the balance Sheet date are deferred and shown In credltor5. Examination ènd centre re8iStration lees are rKogni5ed to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. EXPENDMIRE Liabilities are recognised as expenditure as soon a5 there is a le8al or constructive obligation commlttin8 the charity tts that expenditure, it is probable that a transfer of economlc benefit5 will be required in Settlement and the amount of the obli8ation can be measured rellably. Expenditure 15 accounted lor on an accruals basis and has been cl355ified under headin85 Ihat ag8re6ate all cost related to the cate80ry. Where costs cannot be directly attributed to particulaT headlngs they have been allocated to activities on a basis consistent with the use ol resources. IrCoVerable VAT has been charged io the Statement of Financi81 ktivitie5. ALLOCATI1 A14D APPORTIONMENT OF COSTS Re5ourc£s experded are allocated to the particular activity where the c05t lateS lyirectly to that activity. However, the c05t of 5UPPOrt of the overall operation are allocated to each activity based on the propgrtion of incorne generated. Pa8e 18 continued...
THE INSTITUTE OF LEAOERSHIP NOTES TO THE FINANCIALSTATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES- contlnuqd INTANGIBLE FIXED ASSETS Intan8ible fixèd assets are stated at cost less accumulared amort15ation and impairment 10sse5. Cost includes the ori8inal purchase prfce of the assèt ané the costs attributable to brln8ln8 ihe asset io Its workln8 condltion for it5 intended use. All assets are consldered to have a flnite USEful life and are amorti5ed on the followirKq bases.. Webslte Trademarks Computer 50ftware 33% on tost 20% on cost 20% and 33% on cost TANGIBLE FIXEDASSEfs Tangible fixed assets under the cost model are stated at historic c95t le55 accumulated depCiatIOn and any accumulaied Smpairrnent losses. Historical cost includes expenditure that Is directly attrlbutable to bringing the asset to the Iocatlon and condltlon necessary for It to be capable of operating in the manner Intended bv management. Depreclatlon Is provlded on the lollow4n8 bases.. Flxtures and fltlin8S Computer equipment 20% and 25% on cost 33% on cosi The assets, resldual values, useful lives and depreclatlon methods are reviewed, and adjusted pr05pectlvely If appropriate. or if there 15 an inijlcation ol a $18nificant chan8e since the last reporting date. Gains and10s5e5 on di5posa15 are determined by comparin8 the proceeds with the carrying amount and are reco8n15ed In the Statement ol Financial Activities. TAXATION The charity Is exempt from corporatlon tax on bts char5iable activltles. FUND ACCOUNTING Unrestrlcted funds can be used In atcordance wlth the charltable oblectlves at the dlscretlon of ihe irustees. Restricted funds can only be used lor partlcular restrlcted puiposes wlthiTh the objects Ot the charlty. Restrlctlons arlse when speclfied by the donoror when funds are ralsed for partlcular restrlcted purposes. PENSION COSTSAND OTHER P05T4ETIREMENT BENEFITS The chèrlty operate5 a defined contribution pension scheme. Contributlons payable to the ¢harltatsle compBnv' pension scheme are charged to the Statement of Flnanclal Actlvitles in the perlod to which they rel?te. INVESTMÉNTS Quoted Investments have bèèn Included in the Balan Sheei at bid prlce. The relevant unrealised 8ain/105s on nvestment values, calculated as movèment In the market value of an asset durln8 the year is reported through the Statement of Financial Activitie5. Investment incorne include5 interest receivable on deposlt and income from listed inve5tment5. Investments In subsidiary undertakinBS have been included in the 8alance Sheet at hlsiorlc cost less any potential impairment. CURRENT ASSET INVESTMENTS Current asset investments comprise fixed term deposit accounts and are stated at fair value. FINANCIAL INSTRUMENTS All financial instruments ère recognised at hlstorlcal cost other than Investments which are recogni5ed at bid or fairvalue. Page 19 contlnued...
THE INSTITUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMENTS. coNlnu•d FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES- eontlnued FOREIGN EXCHANGE Transactions in currencies other than ptsunés sterling are recorded at the rates of exchange prevailing at the dates of the transJction5. At each rewrting end date. monetary assets and Ilablllties that are denominated in foreign curren£ie5 are retranslated at the rates prevaillng on the reporting end date. Gain5 and 1055es arlsln8 on tr8nslatlon in the period are included in the Statement of Financlal ActSvlties. OPERATING LEASE COMMITMENTS Rentals payable under operating lease5, including any lease Incentlves received, are efiar8ed to the Siaiement of Flnancial Activities on a stral8ht-line basis over the term of the relevant lease except where another rnore 5YStematic ba515 Is more representatlve of the tlme pattern In whlch economic beneflts from the lease a55et5 are eonsumed. GOING CONCERN There are no 518nlllcant doubts about The Instltute's ablllty to continue a5 a going concern as there are currently $18nlficant cash and 5nvestment fund balances. p051ti¥e net current assets and siable Income streams. The Institute continue5 to receive income from City & Gullds followin8 Sts separation. There are no rnaterial uncertalntle5 to be distlosed. DONATIONS AND LEGACIES 1023 2022 Don8tlons INVESTMENT INCOME 2023 2022 Interest on deposlts Dlvidends received 10,619 337,624 404 329.636 348,243 330,040 INCOME FROM CHARITABLE A1VITIEs 2023 Total activities 2022 Total activities Membership & Examlnatlon Other Individual membership Commercial membership Commerclal income Diploma income College lees Other income 1,220.806 785,647 I.2206 785.647 431,973 843,228 191,161 43,051 1,117,045 586,619 369.930 431.973 843,228 191,161 43.051 17.649 3.040.842 475,024 315,#66 2,091,243 Page 20 continued...
THE INSTITUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMENTS. (ontlnued FOR THE YEAR ENOEO 31 AUGusf2023 CHARITABLE AcfiwTIES COSTS SuppDrt costs (see ntste 61 Direct Costs Totals Membershlp and exarnination Other 2.288,257 774.915 896.502 3.063,172 896,2 2.288,257 1.671.417 3.959.674 SUPPORTCOSTS Govemance costs Other Totals Membershlp and examlnat5on Other 774.915 856,348 40.154 815,069 856.348 1.631.263 40,154 1,671A17 NET INCOMEIIEXPENDITUREI Net Incoméllèxpenditurel15 5tJted after char8ing/lcredltinBI'. 2023 2022 AudltOfS' remuneration Computer equipment depreclatlon Trademark 3rn0rt15atlon Website amortisatlon Computer software amortisation 34A50 3.574 1,168 3,420 180,249 11,200 3,015 1,078 248.448 TRUSTEES. REMUNEIIAMON AND BENEFITS There were no trustee5' remuneratlon or other beneflts lor the year ended 31 August 2023 nor for the year ended 31 Au8USt 2022. During the year ended 31 Au8USt 2023, E L Robinson-Green received remuneratlon of £I,SCll2022.. £NIII from the subsidiary tompany ABE Global Llmlied In hls capacity as a director of that cornpanv. Pa8e21 contlnued..-
THE INSTITUTE OF LEADERSHIP NOTES TO THE FINANCIAL STATEMENTS. ¢ontlnu•d KIR ThÉ YEAR ENDED 31 AUGUST 2023 TRUSTEES, REMUNERATION AND BENEFITS. contlnued TRUSTEES, EXPENSES Durin8 the year ended 31 August 2023 expenses of £2.24712022.. £5281 were rtimbursed to trustees. STAFF COSTS 20ZJ 2022 WaKes and salarles Soclal security costs Other penslon costs 1,519,114 160,379 82,470 993.799 lQ7.337 60,470 1761,963 1,161,606 Included above are also redundancy costs of E23,33612022'. E40,2211. The average mgnthly nurnber of •mpluyt•s durlnB the year was as follows.. zozJ 53 2022 23 Membershlp and erniDation The number of ernplcsyees whose employee benefils (excludin6 employer penslon costs) exceeded £60,0 was.. 2023 2022 £60,001- £70.000 É70,001- £80.000 E80,001- £90.000 £y¥J,OOi . £i(W,O(M) Éioo,000- £iio.t DurlnB thè year ended 31 Au8USt 2023 an amount of £432,081 12022.. £325,562) was paid to key manaBement personnel which Included redundancyc05ts of f Nll12022.. £NIII. Pa8e 22 continued...
THE INSTITUTE OF LEADERSHIP 140TES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 io. INTANGIBLE FIXED ASSETS- GROUP Computer softwafe Website Trademark TDts15 COST At I September 2022 Addltlons Acqulred 5,390 2005 1.182,440 77.516 1.332,965 1.187,830 80,321 1065,952 132.987 At 31 Au8USt 2023 132,987 8.195 2.592,921 2,734,103 AMORT15ATION At I September 2022 Char8e foryear Acquired 309 1,168 997.257 IBO,250 1.144J60 999,566 184,838 1.257.260 3,420 112.900 At 31 August 2023 116,320 3.477 2.321,867 2A41,664 NET BOOKVAWE At 31 August 2023 I667 4,71B 271,054 292,439 At 31 Augus12022 3.081 185.183 188,264 INTANGIBLE FIXED ASSETS- COMPANY Computer 501iware Web5he Trodemark Totals COST At I Septernber 2022 Additlon$ 5390 2,805 1,182N40 34,532 I.18730 37a37 At 31 August 2023 8,195 1216.972 1225,167 AMORMSATION At 1 September 2022 Charge lor year 2,309 1.16 997257 151.687 999.566 152ASS At 31 August 2023 3,477 1.148,944 1152,421 NET BOOK VALUE At 31 August 2023 4.718 68.028 72.746 At 31 Au8USt 2022 3,081 185.183 188,264 Paee 23 continued...
THE INSTITUTE OF iEADERSHIP NOTESTO THE FINANCIAL STATEMENTS- contlnutd FOR THE YEAR ENDED 31 AUGUST Z023 ii. TANGIBLE FIXED AE75- GROUP Fixture5 & rittin8S Computer equipment Totals COST At 15eptember 2022 18.048 61,IM4 79.132 9,5E 106N95 12Qh301 Mu Acquired Di3p05a15 lJ35 1112571 104.560 19.A731 At 31 Au8USt 2023 8.726 166.031 174.757 DEPREOATION At I September 2022 Char8e for year Acqulred 01sP05a15 181148 56A20 3,S74 IOJ.984 9.1731 74A68 3,574 105,919 1,935 11,2571 At 31 Au8USt 2023 8.716 155,205 163.931 NET BOOKVALUE At 31 August 2023 10,826 IOJ26 At 31 August 2022 4,264 4.264 TANGIBLE FIXED A55ETS- COMPANY Flxtures & filtin8S Computer equlprnent Totals COST At I September 2022 Additions DISpolS 18,1)48 61,084 79,132 9.560 20A30 112571 19,1731 At 31 August 2023 61,471 68.262 DEPRECIATION At I September 2022 Char8e lor year Disposals 18J148 56A20 3331 ,1731 74168 3,231 20A301 11,2571 At 31 August 2023 50.878 57M9 NET BOOKVALUE At 31 Au8USt 2023 10,593 10.593 At 31 August 2022 4,264 4.264 Page 24 contifiued...
THE INSTITUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMENTS- t¢)rtlny¢d FOR THE YEAR ENDED 31 AUGUST 2023 12. FIKED ASSET INVEStME14TS Shares In Broup undertakSn8S Listed Investments Totals MARKETVALUE At I September 2022 Additions Revaluation5 ith) 10,962,708 5fy)000 1285.2891 10,962 500,000 1285,2891 At 31 August 2023 loo 11,177.419 11.177.519 NET 8OOKVALUE At 31 Au8USt 2023 100 11.177A19 11.177.Slg At 31 Au8USI 2022 Ic*) 10.962,708 10 962 808 Llsted inve5trnents at 31 August 2023 were made up as loll¢w5'. Cat•80ry UK and Overseas Equltles Prate Equtty and Other Infrasiructure and Operatln8 Assets Propertv Contractual and Other Income Flxed Interest Cash and Near Cash 20231%1 72.07 3.25 6.B6 3,07 20221%> 70.56 1.44 9.19 4.54 2.94 8.73 11.33 Total 100.oo ioo.¢J) Cost or valuation at 31 August 202315 represented by.. Shares In youp undertaklnls Llsted 5nvp5tments Tot•l> Valuation in 2023 C05t 11.177A19 11,177,419 100 loo loo 11,177AIY 11.177,519 The Eornpany's investments at the balance sheet date in the share capital of cornpanles Include the followin8'. Page 25 continued..
THE INSnTUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 AVGUSf 20Z3 Iz. FIXED ASSET INVESTMENTS- contlnued Leaderskllls Llmlted Re8lStered office,. 19 Hlghfield Road. Edgbaston. Birmingharn. England. 015 38H iiass of share.. Ordinary shares holdlng loo 2023 2022 greKate capSts1 and re5erve5 Profit lor the year loo 100 ABE Glob•l Llmlted Registered offlce.. New Malden Buslness Centre, 46150 Coombe Road, New Malden, England, KT3 4QF Class of share.. Votln8 fights (company Ilmitèd by guarantee) holdin8 100 1023 2022 A88re8ate capSts1 and re5erve5 Profltll10551 for the year 132,1291 164h741 On 31 March 2023. The Institute of Leadership acqulred the subsidiary company, ABE Global L5mSted. 13. DEBTORS Group Comp•ny 2025 2022 1023 2022 Amourts lalllng due withln I year.. Trade debtors Amounts owed by group undertakln8s oiher debtors Prepayment5 403,943 184.614 154.263 835,517 500,000 113,453 113,453 220,949 500,000 97.726 578,088 216,369 515,767 101,226 801,607 1,603,133 932,128 Arnount5 fallin8 due after more than I year.. Other debtor5 s.0110 i 000 000 soo,000 i.oc(>,000 Aggregate amounts 1.778.400 1801,607 2.103,233 1.932.128 Page 26 continued..-
THE INSTITUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Group Comp•ry 2023 2022 2023 2022 Bank loans Trade creditors Other creditors Deferred income Accrued expen5e5 10,648 375.308 104,732 1,031,751 345,919 59,445 74.934 9.955 32.130 56,215 571,431 246.934 59.033 57,324 719,703 206.440 1168,358 1.244.674 906,710 1,042,500 Membershlp subscriptlons are payable In rpspect of a rollln8 12-month perlod and are credited to income over the period to whlch they relate. The remalnin8 bapance on thi5 incorne that falls Into the followlng year 15 Shown as deferred Income. No obligatlon exlsts ro repay thls or any part of It to mernbers. Deferred Income Is shown as lollows.. Group Comp•ny 2023 2022 2023 2022 Balance at 1 $2Ptember Amount released to incomln8 resour¢e5 Amount deferred In the year 900,955 IWJ,9551 1,031.751 823,456 1823,4561 900,955 719,703 1719,703 571,431 823,456 1823,4561 719.703 Balance at 31 August 1.031,751 900 955 571431 719.703 15. CREDITORS: AMOUNTS FALLING OUE IN MORE THAN ONE YEAR Group Cornpanv 2023 2022 2023 2022 Bank loan5 1-2 years Bank loan5 2-5 year5 10,648 7,660 IB,308 LEASING AGREEMENTS Mlnlmum lease payments under non-cancellable oper4tin8 leases fall due as follows: 2023 2022 Wlthin one year Between one and flve years IZ7.288 44.540 4,193 171A28 4.193 Operatin8 lease poyments retO8nised as an expense durln8 the year amounted to E75.69012022.. £25,6291. Page 27 continued...
THE INSTITUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 AUGUST 2023 17. MOVEMENT IN FUNDS- GROUP Net fvnds moverneTrt Fund Tfansfers At 1.9.22 At 31.8.23 Unrest1kn funds Lienerai Tuno Leadership Brant fund v.?7v.Av6 33.319 2,IMXINOO 2A133,319 TOTAL FUNDS 12.984.Z79 la80,8541 12,603,4Z5 Net movernent In funds, Included in the abDve are as follows.. Incomin8 resources Resources expended Galns and 1055es Movement in funds Unrestrlcted lundi General fund Lcadershlp 8rant fund 3.848.951 15,158 13.959,6741 1303ASOI 18.161 1414.1731 39,319 TOTAL FUNDS 3,864.109 13,959.6741 285,2891 1380J541 Comparatlvtt far movement In fvnd5 Net movement In fund5 At 31.8.22 At 1.9.21 Unrestrl¢t•d funds Genero1 fund 13.421.482 1437.2031 12,984,279 TOTALFUNDS 13,421,482 437.2031 12,984,279 ComparJtlve net movement In fund5, Included In the above are as follows: IncomlnB resources Resources expended Gains and losse5 Movement In fund5 Unresirl¢t•d fund$ General fund 2,421,283 12.252,8061 1608.6801 1437.2031 TOTAL FUND5 2,421283 2.252,8061 608,6801 1437.2031 Page 28 continued...
THE INSTITUTE OF LEADEASHIP NOTES TDTHE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST2023 17. MOVEMENT IN FUNDS. COMPANY Net funds movement Fund Transfer5 At 1.9.22 At 31.8.23 Unr•5trlcted funds General fund Leadership grant fund 12.984279 1382.Q441 I20,1>joi 33.319 2.000,OIXI 10.602,235 2,033,319 TOTAL FUNOS 11.984.279 1348,7251 12.635.554 Net movement In funds, included in the above are as follows.. Incomins resources Resources expended Gains and losses Movement n funds Unrestrfrted funds General fund Le?dershSp grant fund S259 15,15B 12h31A331 1303ASOI 18,161 138211441 33J19 TOTAL FUNOS 567,997 34B.7Z51 Comp•rntlv•A f•rfflovem¢nt In lunds Net movement In funds At 31.8.22 At 1.9.21 Unre5trF¢t•d fundl General fun¢J 13,421,482 1437,2031 12.984.279 TOTAL FUNDS 13,421.482 437.2031 12,984.279 Cornparatlve net movement in funds. 5ncluded In the above are as follows.. Incornln8 resoUe5 Resources expended Gains and losses Movernent in funds Unrestrfrted lunds General fund 2.390.235 12.221,7581 1605,6801 1437.2031 TOTAL FUNDS 2 390,235 12,221,758) 1605.6801 1437.2031 Page 29 continued...
THE INSTITUTE OF LEADERSHIP NOTESTO THE FINANCIAI STATEMENTS. fontlnued FOR THE YEAR ENDED 31 AUGUST 2023 17. MOVEMENTIN FUNDS General fund This fund repre5ent5 the free funds of the charlty and group that are not designated frjr particular purpose. ni ran This fund is designed to fund project5 that support The Instltute's mlsslon of 'lnsplrlng great leadershlp everywhere,. 18. EMPLOYEE BENEFIT 08UGATIONS The Group made contributlon5 on behalf of Its employees to a defineé contribution pension scheme. The number of staff who have accrued retlrement benefit5 under the dèfined contributlon scheme was 5312022.. 231. Durlng the year contritutions amounted to £82,47012022.. £60,470> which are included in the Staternent ol Flnanclal Activities as they becorne payable. The number of staff bein8 paid more than £60.000 who are accrulng beneflts under delined contrlbutlon arran8ements was 412022.. 41. 19. RELATED PARTY DISCLOSURES The charitable company has taken aévantage ol exernption, under the terms ol Financial Reportlng Standard 102 'The Flnanclal Reporting Standard applicable in the UK and RepublSc of Ireland,, not to disclose related party tr3nsactlon5 Wlth wholly owned subsidlarSes withln the 8roup. There were no related pDrty transactlons for the year ended 31 Au8USt 2023. ULTIMATÉ CONTAOLLING PAAri The Instltute Is controlled by Its Olrector Trustees. Page 30