REGISTERED COMPANY NUMBER: rA16011)49 IEnKL•nd Wales) REGISTERED CHARifi NUMBER: 2*18216 RepoRT OF THE TRUSTEES AND CONSOLIDAIED ANANCIALSTATEMep4TS FOR THE YEAR ENDED 31 AUGUST2024 FOR THE INSDTUTE OF LEADERSHIP IFORMERLYThE INSTITUTE OF LEADERSHIP AND MANAGEMENT) J W Hlnk5 LLP Chartereil Accountants and Statutory Audltors 19 Highfield Road Ed8ba5ton 81rmingham 815 3BH THE INsllTUTE OF LEADERSHIP AND MANAGEMENT CONTEt4TS OF THE Ca¥X*IDAIED HNANCIAL STATEMEIITS FOR THE YEAR EIIDED 31 AUGusf2014 Report of th• TThst••s Report of the Indep•ndentAudltor5 9 to 12 ConsolldJted St•t•meht ot Mnan¢lal Actlvltl*i 13 Conyolld¥tsd Balanc• Sh••t 14 Parent Ch•rSty Bal•nc• She•t Is Consolldat•d C•Jh FlowSt•t•m•nt 16 Note5 to the ConJolldat•d C•sh Flow Ststem•rt 17 Notss lo the Hn•Thcl•l 5t•t•fflents IB to 30 THE INSTITUTe OF LEADERSHIP IREGISTERED NUMBER: 1x1601049) REPORTOF THE TAUSTEES FOR THE YEAR ÉNDED 31 AUGUST2024 The tTU5tees who are è150 director5 of the tharfty for the purposes of the Cornpanies Art 2006. present their report wtth the flnancial statements of the charity for the year ended 31 Au8USt 2024. The tmstees have adopted the provisions of Accountln8 and Reportin8 by Charities: Staternent of Recommended Practlce appllcable to ch8rStles preparing their accounts in accordance with the Financial Reporting Stsndard applitable the UK ènd Republlc ol Ireland IFRS 1021 leflective l January 20191. 08JEcfivES AND ACTIVITIE5 Oblertlv*s •nd •lms The objectives for which The Institute is establlshed are'the promotlon and development of the s¢ien¢e of management. and the advancement ol education involving the study ol the skills of leadershlp and mana8emeDt The Insiltute Is dedlcated to ao*8nclng the c8pabilTrty of monas￿ and leaders vjorldwlde through the provisk)n of tailored leamin8 resources, and by developing 8nd sUPPOrtlng J {lobal leadership and management comrnunlty through Its membershlp servlces. Tht attivitles of the Instltute are the provislon of learning re50urce5, the operztlon of Its membershlp proposltlon and the curatlon of research focused on practkin8 leadeTh and rnana8er5. The Institute offers a range of re50urce5 coverin8 mana8ement, leadership, coachlng and mentorSn& buslness and enterprlse, and specialist are85 (for example. finantial services, rnllltary, educatSon and chaflty sector support), 811 ol which are airned 8t developing people sk1115, knowled8e and understandln8 to Improve perforrnance at work or in soclety at lar8e. The Instltuie offers professlonal membership whlth rÈtognlses the ialents of leader5 and managers at different stage5 In thelr career. Membershlp provSdes professlonal retognltlon, access to a bespoke onllne learnln8 envSronment IMyLeadershipl, additional le8rnlng materlals. a globally accesslble serfes of onllne events and weblnaT5, acce5S tD a wide range of research and knowledge, Ed8e magazlne, and •¢¢ess io The Hub, the Instltute's onllne leadershlp community of Pfactlce. Thè Institute 15 commltted to advanclng understandlng of effectlve leadershlp and mana8ement, and Its Smpact on Indlvldua15, orgaTh15atlon5 and wlder 50clety. Our knowledge curatlon Ss de51gned to identlfy current and emerBlng trends cr055 the broad dlsclpllnes of leadershlp and mana8ement and hl8hllght leadln8-ed8e thlnkln8 and practlce in workplaces across the world, Publk benefft As a regisiered charlty, the Instltute of Leadershlp takes Its publlc beneflt obllgatlons seriousty. Membershlp Is open to Jll, and many of the Instltute's learnSng resource5 are free to access, Includlng webinars. research reports, podcasts. online courses and news updates. The Instltute Is comrnittÈd to provldln8 freely accesslble resource5 a5 part of its oblettlve to a(fvance the leamSn8 and practlce of leadership and management. In additlon, the Institute supports other charltles through partneiin8 and procurement actlvltle5, selerting partners who themselve5 demonstrate a clear and compellln8 purpose for public benèfft. Page I THE IN5llTUTE OF LEADERSHIP IREGISTEREO NUMBER: OOf4)1049) REPORT OFTHE TRUSTE FOR TME YEAR ENDED ai AUGU￿ 2(124 STrATEGJC REPORT Athl•vèmÈnt and perforniance Twelve fflonths ago. I de5CTibed the financlal year ended August 2023 IFY231 as 'a watershed,. It wasnl that I spoke too soon. or 'mis-spoke'. as our co¢Jslns across the Atlantic would have it. tt was slmply that I spoke as if that watershed moment Was sornehow unlque. Instead, In FY24 we have seen 8 series of watershed moments continuln8 to appear In Imost every sphere ol life. Francis Aguliar's 1967 model of the 'PEST analysis, (Political, Economic, Sotial, Technologicall has glven us a useful framework for categorising leven If not solvlngl the many challenges that have arisen. Even the allegedly useful addition of Legal and Environmental, to give us PES7LE. has served onW to hi8hll8ht the range of anxletSes that lace leadership at 811 levels in the world today. Well. such 15 life. To achSeve progress and 8rowth dejpite the va8arl ol piovldence15 the rea50n le8defshlp wa5 Invented. With that in mlnd, the InstStute approached FY24 with a purposeful demeanour and ha5 malntaiTred that determlnatlon throughout. As a result, the year ha5 been a rnoderately successful one, characterised by largely malntained pèrformance, Steady pro8ress In some are15, and some notable strate8ic improvernents. Membershlp Is the Ilfeblood of out InstStute, and l am pleased to report that we have malntalned membershlp numbers, reflectln8 the value we continue to provlde to our members. Increasingly, we have also focused on enhancSn8 member en8agement, with a number of inltiatlves aimed at fostering a sense of cornrnunity and irttrèa5ing Involvement. Our monthly seriè5 of weblnars, podcasts, and Book Club, as well a5 online networkin8 events and workshops saw Increased attendance. with particulafly stron8 particlpation In our'masterclass. pyolesslonal development series. The feedback from these events has been overwhelmlngty posltlve. and we will contlnue to refine and expand our offerln8 sn the comlng year. Our 1Sve event5 pro8ramme. re-launched after the Covld pandemlc, remains central to our mlssion of provldln8 networklng, professSonal development. 8nd advocary opportunities for our members, Over the last twelvt months we have hosted Internatlonal Leadershlp Week and a regular serie5 01 in-person. anchor events that ha5 generated trernendously posklve response, Bnd ralsed broad support for their lively, frlendly, and welcomin8 atrrK)5phere. The resultlTh8 coverage on Linkedln and other soclal medla platforrn5 has allowed us to reach a broader ?ud5ence whlle relnforelng the personal connectlons that our members value. Our Leadersh5p Llve Conference attracted Members, Fellows, l￿dershIP authorities, and keynots speakers from across the country. The Conference featured a 5erles of hIgh￿uality workshops, panel distU55ion& and networkln8 session5. all of whlch weTe well recelved by attendee5. Our annual House of Commons Member5 Reception was bl88er th&n ever, and our second LeadershSp Awards DlnHer confirmed Itself as 8 foundatlon In the lèadtT5hip cornmunity's calendar. Our acqulsltlon In FY23 of A8E Global Is be8lnnln8 io bear fruiL and we have lust launched our first joint L5 LeadershSp Development Programme. We have streamlined the applicatlon process tor Fellowshlp, whllst retaining the strin8eni crrterla for conferment, and we have launched o new CorpDfdte Membership offer, to broaden the Instltute's market presence- and Increase our Proles51onal Membershlp. We also Increased our vlslblllty In the ￿ader bu55ness commvnity and publK Sector throv8h partnèrships with like-mlnded or8anlsations and partlcipation in public events, bDth in the UK and internatlonally. ThE5e outreach efforts have helped ralse aWa￿nesS of the Instttute and our mi55ion. and we are already seein8 the benefit5 in terrn5 of increased Interest In membership and collaboration opportunttie5. In the coming years we shall leon more heavily on partnershlps to levera8e access to a wlder leadershlp community of practice, and to ra15ethe In5titute'5 brand prp5ence acr05S the world. Page 2 THE INSTITUTE OF LEADERSHIP IREGisfERED NUM8ER: 006010491 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 1024 Achlevement and performance Financially, the past year has been stable, yet the broader economlc environment rernains uncertain. Whilst we met our net income targets, the￿ were some shortfalls, and we sh811 continue to focus our effort5 on membership fees. eveTht registration lees. and 5ponsorship5. whilst emphasising the opportunlty for new Corporate Membership income. We continue to manage our re50urce5 prudently* Suttessfully keepSn8 Costs under control. In future, we shall be streamlining operations through the implementation of new ITC systems. which will improve automatlon, and provlde enhanced data and analytics. This strate8ic Investment In our CRM 50ftware and our digital marketing wlll yield lon8-term beneflts. We wlll need to continue managing our ￿sOurceS carefully while also explorlng new revenue st￿arn5 to ensure our lon8-term sustaSnabllily. Lookin8 ahead, there are signlflcant opportunltles for 8rowth. The popularlty ot our virtual events has opened up new PO55ibilitle5 for reachin8 a wider a¢Jdlence, and we continue to explore how we can leverage technology to enhance our propo51tion. We ended thè year with a modest surplus, and overall our financlal posltlon remains healthy. We are well-p05itiontd to navi88te the uncertalnties of the'PESTLE' landscape whlle contlnuingto deliveT value to our Mernbers. Fln4ncl¥l r•vl Flnanclal pgsltlon A summary of The In5tltute'5 finances 15 Set out In the attachèd finantial statements for the year ended 31 August 2024. The prlnclpal source of 5ncome for The Institute Is from membersh5p Income. After maklng approprlate enqulrles, the Irustees have 8 rea50n&ble expectatlon that The Institute has adÈquatÈ rèsources to coniinue In operatlonal exlstence for the foreseeable future. For thls reason, they contlnue to adopt the 8olng concern ba515 In preparln8 the financlal statements. Charltable Incorne amounted to £4,566.29012023'. £3,515,866), an Increase on the prevlous year and Investment income amounted to £365,49712023- £348,243). Expendlture for the year totalled £5,975,03612023: £3,959,674). The movement In net resou￿e5 for the year resulted In a deficlt of £49912023.. deflclt of £380,854) ofter allowlng for net 8alns on Investments of £1,042.75012023.' nei losse5 OTh Investments of £285,6801. Total unrestr1cted fund5 amounted to £12,602,92712023.. £12,603.4251 as at 31 Au8USt 2024 wlth Ilquld reserves (net current Ilabllltlesl of1£107.391112023.' net current assets of £1,141,049). The malorlty of Intangible flxed assets of £487,25912023'. £292,439) represent manaBer5hlp. Prlnclpallundlni sources The prlnclpal fundln8 sources for The In5tttute are currently by way rnernbew5hlp Income from fts members. portner5hlp and Institute approved Income and Investment Income from its115ted investment portfolio. fte￿rVÈ$ pollcv The Insiltute's target Is to hold sufficient free reserve5 to fund its ￿tI¥￿ie5 In the event of a rnajor fall in Income or an unforE5een increase In expenditure. and that these reserves should equate to 12 fflonths planned operatln8 expendlturÈ for the comin8 yeor, based on a range of months overthe year. When reviewin8 the reserves posltlon. c0Tr51der?tion is a150 given to whether funds should be de51gnated to cover expendlture on specific capital and other prolett5. There are CUTrently no designated fund5. The value of free reserve5 is calculated by takln8 total fvnds e¥clusive of tangible and intanglble assets. On that basr5 the value of free reserve5 at 31 Au8USt 2024 was £12,104.46512023-. £12,300,160) and equated to 24 rnonths expendlture 12023.. 37 rnoThthsl. The levels of reserves are a feature of the full separation of The Institute from the City & Guilds Group and not a result of long-term attumulaiion by deslgn or negleEt. Page 3 THE INSTJTVTE OF LEADERSHIP (REGISTERED NUMBER: Tr)6010491 REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Govemlng document The charlty Is controlled by its goYemin8 document. a deed of trust, and constitL4te5 a Ilmited cornpany. Ilrnlted by Buarantee, as defined by the Companies Act 2006. Charlty Consti￿tIOn The Institute was formed under a Memorandum of A5s0clatlon dated 3 March 1958 land subsequently amended) and Articles of Assoclation adopted on 28 June 2018. The Memorandum of As50(iatSon and the Articles are tO8￿her descrSbed in thls report as'lhè constitution.. Under the ctsnstltution. the Board Is requlred to Issue 8yelaw5 Sn relatlon to some matters, has the speciflc power to Issue other5, and may in addltlon Issue any which It deem5 necessary, expedleftt or convenlent for the proper conduct and mana8ement of The Instltute. As at the year end. the 8yelaws In force related to Mernbershlp, Studyln8 Membershlp, Elettion of Oirectors, Facultles, Advlsory Gmups and Regular Members. Recruitment and •ppolntmeni of nèw trnrteei As The Institute Is both a charlty and a cornpony, members of thè Board Ire both charfty trustees and company Dlrectors. The Board consists ol Dlrectors, who are dected by the Votlng Member5, Inamely the members of The Instltutel. The nurnber of Dlrectors may be altered by & General Meetln8 of mernbers. Ory•nls•tlon•l stru(lyre prtd decljlon maklni The Board is requlred by the constStutlon to ensurè that The Instltute's buslness 15 conducted In accordance wlth Its charitable objertives. The Board is legally responslble for the governance and management of The Instltute. tt plays • strate8ic role and. In thls context, considers and approves The Instltute's annual buslness plan, and Is actlvely Involved In any proposal for ch8n8e to the constitution or Byelaws. In their dellberailons in rèlatlon to The Instltute's alms, 5trategvJ objectlves and actlvlties, the Board ha5 due regard not only to The Instltute's tharltable purpose but also to the suldance on publlc beneflt publlshed by the Charity Commlsslon. The Board sets and reviews The Institute's reserves and Investment po15tles, and re8ulady monltors the performance of the Investrnents. It approves and monltor5 compllance wlth other rdlcle5, In particularthe health and safety pollcy. Executlve mèn88ement 15 delegated to the Chlef EXeC￿1ve, who presents regular reports to the Board to enable It to monltor the financlal performance of The Institute and Its progress towards meètln8 Its 5trate8lc oblectlves. The Chief Executive is 5UPPgrted by a senior management team whose roles coyer all aspetts of The Inst5tute's current operations. Its research and policy activlrles, membershipt flnance and bu51ness adminlstratiori, mafketln8 communicatlon5 and businés5 development. Induitlgn •nd tralnlfyg ol new trustees Board-related pollcies are reviewed accordln8 to a schedule approved by the Board, and cover Induction. development, evaluation, conflicts management, and matters reserved to the Board. The Ind￿tIon programme for new dlrectors brlefs them on The Institute's business and ffinancial affairs and the duties of company director5 and charity trustees through combination of a dedicated Induc1ion se55ion, indurtlon pack and meetlngs with key personnel. The dlrector'5 trainlng eeds are addressed through a self-asse55rnent skllls matrlx, external semlnars. briefing papers, courses and as part of the normal cycle of Board meetlll8s. and a Board evaluatlon proce5S is Carrled out annually. Board members do not receive any personal benefits unle55 there 15 legal authority for this. Any related party transactlons are reFhYted In the Annual Report and Flnancial Staternents. Page 4 THE INSTITUTE OF LEADERSHIP IREGISTEREO NUM8ER.. 00601049 REPORT OF TME TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Key rnanagerneTht rtmunèr￿1oTh The Instltute's Board determine the remuneratlon and wntrartual tonditlons for the Chlef Executive and (weT5ee the Varlable remuneration ol other key members of ihe Institute's managemènt team. takln8 Into account market condition5 and development need5 for The Instltute. The Instltute provldes a remuneratlon pKkJg¢ includlng a baslc salary. performan¢trrel8ted bonus, company car, lffe a55urance cover, prlvaie rnedlc?I Insurance and participatlon In The Instltute's Stakeholder pensloTh schem& Page S THE INsnTiITE OF LEADERSHIP IREGlSfERED NUMBER: IW10491 REPORTOF THETRU5tEES FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk management The Dirertors keep under re8ular review, the rlsks to whlch The Instltute15 exposed and seek to limlt their impart bv adopting approprlate measures and monltorfn8 thelr implementatlon. The Institute's Risk Re8iSter records risks, thelr Inhèrènt and resldual ratln8s and rnitigation measures. The Registers are actively monitored by the Board, Rlsk and Flnance Comrnlttee and Senlor Leadership Team alDng wi(h the Chief Executlve. An updated Risk ReBlster, whlch tracks the mtsvement of rlsk, Is a¥ailable to The Instltute's Board at every Board meeting. The strateB5c r5sks facSn8The It)stitute arè under constant revlew. wlth key rlsk areas havlng been identifSed as follows.. FlnaThclal.' ralsln8 the Incorne of The Insthute to ensure the lon8-term solvency of The Instltute and the targeied achievement of charltable oblerts. - Reserves: safe8uardlng the real-terms value of financlal reserves through dlllgent 8sset management. Envlronmentèl.. re5pondlnB to soclo-economlc chBnge5 In respett of tradltional membership p•rticipatioTr to ensure on8olnB en8a8ement wlth our m1$51ors. Reputatlonal.. 5afe8uardln8 the reputailon of The In5tltute from unprofe551onal, uThethlcal or crlminal behavlours of staff or members. Wellbeln8.' ensurlng the safety, health on¢ mental health of staff and volunteers engaged in the work of The Instltute. Investment in new producis, servlces, 5V5tems and processes tontlnues to be made to support the on80in8 delivèry ol The Instltute'5 rnlsslon and enable the revenue 8rovAh needed to reach a more 5L15talnable tradin8 posltion. In addition to these prlnclpal rlsks, The In5tltute Is subject to the same general ffinanclal and oper8tSonal rlsks a5 Other enterprlses. The only rnaterlal flnanclal In5trurnents held by Tht In5tltute are Investments and debtors. The market rlsk pertalnln8 to the Investment portlollo 55 managed by CCLA but the investment policy and bud8etln8 process are such that The Instltute's exposure to cash flow rlsk is rnlnirnlsed. rhe credlt risk relatln8 to ¢Jebtors Is low given that the balance represents a few relatively low volurne Items and a debt from the City & Gullds Group. The In5tltute has no lon8-terrn borrow1r￿ and therefore liquidity risk Is mlnirnal. In relatlon to managlng price risk, prlce5 Df rnaterials purchased are subject to coniracts with supplier5, based on current market prkes. Risk5 pertainlng to supplier5 are considere(J low and managed by followin8 a robust procurement and contractSng proce55 and monitoring of performance durin8 the life of the contract. Salary costs are communlcated to staff during the formal annual revlew of salarles. The Instfjtute operates a thlrd-party auto-enfolrnent penslon scheme and does not share in any penslon liability. The Chlef Executive has responsibility lor ensuring that rnitlgatlon measurE5 are taken and Teportlng the posltlon to the Board. The Directors are 5at151ied that appropriate action is bein8, or will be, taken to manage the 5trate8lc and operational rlsks which face The Institute. Page6 THE INsrmJTE OF IEADERSHIP IREGISTERED NUMBER: IJ0601049} REPORTOFTHE TRUStEES FOR THE YEAR ENDED JI AUGUST 2024 REFERENCE AND ADMIN15fRATIVE D￿All$ Re815t*red Company numb•r I￿601049 IEn8land and Wales) Re8lrtered c￿111¥ number 248226 R•8lst•red offlc• 19 Hi8hfle5d Rood Edgbaston Birmingham 815 3BPI Trustees A B Klncald J Malawana Ire5Igned OTh 28.03.20241 C H McnalT Ire51gned on 28.03.20241 E L Robinson-Green N J Rylett.Jones S Playford Iresl8ned on 28.03.20241 M Adjei-Tabirade SFFQX L Paxman lappolnted 28.03.20241 S T Hawke (appointed 28.03.20241 Cornpjny Se¢rwry M C Roblnson Audltorj J W Hinks LLP Chartered Accountants and Statutory Audltors 19 HSghfleld Ruad Edgbaston BITmlngham B153BH SolkStors Pennlngton Manches LLP 94(X) Garsington Road Oxford Buslness Park Oxford OX4 2HN Page 7 THE INSllTLifE OF LEADERSHIP IRE615TERED NUMBER.. 006010491 REPORTOFTHETRUSTEES FOR THE YEAR EfrIDED 31 AUGUST 2024 REFERENCE AND ADMINISTRATIVE DETAILS Investment advlsors CCLA Senator House 85 Queen VlctorSa Street London EC4V 4ET STATEMENT OF TRusfEES' RESPONSIBILMES The tru5tee5 Iwho are also the directors of The In5tltute of Leader5hlp for the purposes of company lawl are responsible for preparlng the Report of the Trustee5 and the flnanclal staternents in accordance with applicable law and United Klngdom Accountln8 51andards Ivnlted Kln8dom Genernlly Accepted Ac£ountln8 Pratt￿e). Company law requlres the trustee5 to prepare flnanclal 5taternents for each flnanrial year which glve a true and fair vlew of the State of affalrs of the charitable company and of the incomln8 fesource5 and applicatSon of resources, including the Income and expendlture. of the charlrablè company for that perlod. In preparing those financlal statements. the trustees are requlred to 5elert 5ultable accountln8 pollcles and thÈn apply them conslstentlvi ob5ervethe methods and prlnclplès In the CharSty SORP,. rnake jud8ernents and estlmates that arè Teasonable and prudent,. state whether appllcable accountlrtg Standards have been lollowed, subject to any materlal departures disclosed and explalned Sn rhe Nnaficlal 5talements: prepare the flnanclal 5taternents on the 8oln8 concern basls unles5 It Is Inappropriate to presume that the ch8ritable company wlll contlnue in buslne55. The trustees are re5POllslble for keeplng proper actountlng records whlch disclose with reasonable accura¢y at any tlme the flnanc5al p051tion ol the charltable company and to enable them to ensure that the financial Statements comply wlth the Compan5es Act 20tXS. They are also responslble for safe8uardlnB the assets of the charltable company and hence for takln8 reasonable steps for the preventlon and detectlon of fraud and other irre8ularlties. In so far as the trustees are aware: there Is no relevant audit Informatlon of whlch the cha￿table company's audltors zre unaware,. and the trustee5 have taken all steps that they ou8ht to have t8ken to make thEm5elves aware ol any relevaftt audlt Informatlon and to e5tab115h that the audltors are aware of that Informatlon. AUD￿oR5 The auditors, J W Hlnks LLP, wlll be prop)sed for re-appointment at the forthcomln& Annual General Meetlns. Report of the trvstees, Incorporating a 5tratezic ￿port, approved by order of the board of trustees, as the company dSrett¢rs. on 30January 2025 4nd signed on the bDard's behalf by: A B KSncald- Tmstee Page 8 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INSDTuYe OF LEADERSHIP Oplnlon We have audlted the flnancl81 statements of The In5titLrte of Leadershlp Ithe 'parent charitable company'l and Its subsidiarie5 Ithe 'group'l for the year ended 31 August 2024 whirh comprlse the Consolidated Staternent of Financlal Activities. the Consolldated Balance Sheet, the P8reTrt Charity Balance Sheei. the Consolldated Cash Flow Statement and notes to the financial Statements, includlng a summary of signlflcant accountln8 pollcles. The fSnanclal reportln8 framework that has been applled In thelr preparation Is applicable law and Un5ted Kln8dom Accountlng Standard5 (United Kingdom Generally Accepted Accounting Prattlcel. ln our oplnlon the flnancial stBtementS: Ive a true and fair view of the state of the Group'5 and of the parent charkable cornpany's affalrs as at 31 Au8VSt 2024 and of fts incomin8 resources and applicatiorb of resources, Intludlng Its income and expenditurè, for the year then ènded.. have been properly prepared In accordance wlth UnSted KlnBdom Generally Accepted Accountlng Prartl¢e,' and have been prepared in accordance wlth the requlrements of the Companiès Act 2006. Basls for opinion We conducted our audh In accordancè wlth Intèmailonal Standard5 on Audltlng IUKI IISAS IUKII and appllcable low. Qur responsibllities Under those standards are lurthtr descrlbed In the Auditors, respons5bllStles fof the audlt ol the flnanclal staternents sectlon of our report. Wt are Independent of the charltable company In accordance wlth the ethlcal requlrements that are relevant to our audfft of thÈ flnanclal ststements In the UK, 5ncludln¥ the FRC'S Ethical Standard, and we have fulfilled our other ethlcal responslbilltles In atcordance wlth these TequSrerneftts. We belleve that the audlt evldence we have obtalnedls sufflclent and approprlateto provlde a b8sls forour opSnlon. Concluslons rel•tkn8 to 8oln8 concern In auditing the finantlal siatements, we have concluded that the trustees. use of the 8olng concern bas15 of accountlng In the preparatlon ol the flnanclal statements Is approprSate. Based on the work we have performed, we have not Identlfled any materlal uncertalntles relatlng to events or condltlons that, Indivldu8lly or collectSvelvt may cast siqnlfic8nt doubt on the charltable company's abillty to contlnue as a 8oln8 concern for a perlod of at least twelve months from when thefinanclal statements are author15ed lor Issue. Our responslbllltles and the responslbllltles of ihe trustees wlth respett to goln8 concern are de5¢ribed in the ielevant sections of thls report. other Informallon The trustees are responsSble for the other Informatlon. The other Inforrnatlon ¢omprlses the Informatlon Included in thè Annual Report, otherthan the fInar￿181 5tatemewtts and our Report of the Independeni Auditors thereon. Our oplnlon on the flnanclal statements does not cover the other 1nforrnatl￿ and, except to the extent othefwise expllcltly stated In our report we do not express any form of assuranceconcluskln thereon. In connectlon wlth our audit of the flnanclal statements, our re5pon5ibility is to read the other informatlon and, In doing 50, tonsider whether the other informatlon Is materlally Inconsistent w?th the flnaThclal ststements or Dui knowledge obtalned in the audlt or othefwSse appear5 to be materially rnisstated. If we identify such material in£on515tencies or apparent materlal mlsstatements. we are required to determlne whether this 8ives rlse to a rnaterial mi55tateTnent In the financial statements themselves. rf, based on the work we have performed, we conclude that there is a material misstatement of thls other Informatlon. we are feq¢Jired to report that fad. We have nothin&to report in this ￿gard. Page9 REPORTOF THE INDEPENOENT AUDITORSTOTHE MEMBERS OF ThE 1145TTniTE OF LEAOEftSHIP Opinions on othermatt•rs prescrlbed by the Conyanles Att 2006 In our opinion, based on the work undenaken In the tourse of the audlt: the Inforrnatlon given in the Report of the Trustees for the flnanclal year for whlch the flnanclal statements are prepared is consistent wlth the flnantial 5tatements,' and the Report of theTrustees has been prÈpared In accordance wlth appllcable legal Tequlrements. Matters on whkh we arn feqtslrtd ts report by •xceptlon In the light of the knowled8e and understandln8 of thè Group and parent charftable company and Its envlronmeTht obtained in the course of the audlt, we hav• not identlfled mBterlal mlsstatement5 in the Report of the Trustee5. We have nothSng to report In fespect of the followlng matters where thè Cornp8nies Act 2￿6 requlres us to report to you If, In our oplnlon: adequate accountln8 records have not been kept or return5 adequate for our atsdlt have not been recelved from branches not vlslted by us,. or the flnanclal statements are not In agreernent wlth the accountin8 fecords and returns; or certaln dlsclosures of trustees, remuneratlon spetlfied by law are not made; or we have not recelved all the Inforrnatlon and explanatlons we requlre for our aud￿. Responslbllltl•s of trustees As explalned more fully In the Statement of Trustee5' Re5ponslbllltles, the trthtee5 (who are also the dlr*ctors of the ch•rltable company lor the purposes of company lawl are responsible foT Ihe preparatlon of the flnancial statements and for bein8 5at15fled thai they a truè and fair vlew, and for such internal control 45 the trustee5 determine is necessary to enable the prepofatlon of flnancial statèments that ore free from materlal rnisstatement, whether due to fraud or erTOr. In preparlng the flnanclal statements, the trustees are responslble lor assessln8 the GfOUP'5 and parent charltablè tornpany's ablllty to contlnue a5 a Bolng concern, dlscloslng, as applicable, matters related to 805n8 concern and usin8 thè 801ng cgncern basls of accountlng unless the trustees elther Intend to Ilquldate th• Grwp or charlt8ble company or tts cèase operatlons, or have no reali5tlc alternatlve but to do so. Pa8e 10 REPORT OF THE INDEPENDE1￿ AUDITORSTOTHE MEMBERS OF THE INSTITIITE OF LEADERSHIP Our responslbllltles for the audll of the flrtan¢lal stat•m•Trts Our oblettlves are to obta¢n reasonable assurance about whether the financial statements as a whole are free from material misstatement, whethef due to fraud or error. and to Issue a Report of the Independent Audltor5 that Includes our opinion. Reasonable assurance Is a hlgh level of assuran￿ but is not a guarantee that an audlt conducted In accordance with ISAS IUKI will always detect a materlal mlsllatement when It exlsts. Misstatements can arlse from fraud or error and are considered material if. indlvldualty or In the aggregate. they could reasonably be expected to Influence the economlc declsSons of users taken on the basis (rfthe5e financlal statements. Ifre8u18rltles, Including Iraud. are instances of non-compll8nce wlth laws and re8ulatlons. We desl8n procedures In Ilne with our responslbllStles, outlined above, to detect rnaterial misstatements In respert of Irregularities, Includlng fraud. The extent to whlch our procedures arecapable of detettlng irregulailtles, Includln8 fraud, Is detslled bèlow. We Ident￿fIed aveas of18ws and regulatlons that could reasonably bè exs)ected to have a materfal effe¢t on the flnanclal statements and di5CL15sed the policies and procedures regardlng cofflpllance. Speclflc areas con51dered wer* as follows.. Enqulring with rnanagernent and othèrs to galn an understandln& of the organlsatlon Irself Includln8 operatlons, flnancial reportln8 and known fraud or error. Evaluatln8 and under5tandin8 the Sntèrnal contml system. Performlft8 an8lytlc81 procedures as expected variances In account balance5 or c1053e5 of transactlons appear. - Te5tin8 documentation supportlng 8ccount bI￿nceS or ¢lasses of transactlon5. Owin8 to the Inherent Ilmltatlons of an aydlt, there Is an unavoldable rlsk that we may noi have detetted all Irre8ularltles including those leadlng to materlal mlsstatement5 In the flnancSal statements or non-compliance wlth regulatlon, even though we have property planned and performed our •ydlt In atcordance wlth audltln8 5tandard5. ThSs r15k Increases the more that compllance wlth a low or regulatlon Is removed from the evènts and iransactlon5 reflected In the lin8ncSal statements, as we wlll be less Ilkely to becorne aware of Instance5 of non-compllance. The riskls 8150 greater regardlng Irregularltles occurrln8 due to fraud rather than Èrrnr. as fraud Involve5 Intentional con¢ealmenL fofgery, colluslon, om1551on or rni3representatlon. A lurther descrlptlon of Dur responslbllltles for the audlt of the flnanclal statements Is located on the Flnanclal Reportin8 Councll's webslte at www.frc.org.uklauditorsfesponslbllltles. Thls de5criptlon forms part of our Report of the Independent Audltor5. Page 11 REPORT OFTHE INDEPENDENfAUDITORSTOTHE MEMBERS O THE INSTITLItE OF LEAOERSHIP Use of our report This report is made solely to the char5table company's members, as a body. In Kcordance wlth Chapter 3 of Part 16 of the Companles Art 2006. Our audit work has been undertaken so that we rnlght State to the charitoble company's members those matters we are requlred to state to them In an audltors, retJ)rt and for no other purpose. To the fullest extent permltted by law, WE do not accept or assume responsibility to anyone other than the charitable company and the charitable cornpany's members as a ts)dy. for our audlt worK for thls repo￿ or for the oplnions we have fomied. james Cruse ACA, Fc￿ Bst (Econl Hons Isenlor StatutoryAudltorl for antl on ￿half of J W Hlnk5 LLP Chartered Ac£ountant5 and Statutory Audltors 19 Hl8hf5eld Road Edgba5ton Birm5n8harn 815 3BH Date.. 30 January 2025 Page 12 THE INSTITUTE OF LEADERSHIP CONSOUDATED STATEMEpif OF FINANCIALAcnviTIES FOR ThE YEAR eNDED 31 AUGUST 2024 2024 Unrestrl¢*ed fvnds 2023 Total fuThd5 Note$ INCOME AND ENDOWMENTS FROM Oonatlons and legacles Ch•rftabl• actlvltks Membershlp and examlnatlon Other 3.782A70 783A20 3,040.842 475,024 Investment Income 365N97 348,243 Total 4.931,787 3,864,109 EXPENDITURE ON Charotablt •ttl¥ltl•s Member5hlp and examlnatlon Other SA70mO 3,560,128 399,546 Tot•1 5.975,036 3,959,674 Net galns / Ilossesl on Investment5 285,2891 NET EXPENDITURE 1380,8541 RECONCILIATION OF FUNDS Totsl funds bmutht fon*ard 12,603A25 12,984,279 TOTAL FUNDS CARRIED FORWARD 12.601.927 12,603,425 The Income of the parent charliy was E2,589,24912023.' E2,567.9981 and the operntin8 surplt4s fof the year was £1.031,51112023'. operatln8 dellclt of £348,725). Tht Consolldated Statement of Flnancial Attivttles includes all 8alns and10sse5 recognised in the year. ThÈ notesfr•rm part of these flnanclal stafements Page 13 ThE INSTITiITE OF LEADERSHIP IREGISfERED NUMBER.. IhJ601049) CONSOUDATED BAUINCE SHEEr 31 AUGUST 2024 2023 Total funds Unrestrkted funds hlotes FIXED ASSETS Intsn8ible assets Tangible assets Investments li 12 13 487.259 11.203 12.220,169 292,439 10,826 11,177,419 12,719.631 11,480,684 CURRENT ASSETS Debtors.. amounts falllng due wlthin oneyear Debiors: amounts f3lllng due after more than one year Current asset Investments Cash at bank 14 1.217.609 1,278,400 14 500,(4JO 4,576 1,226,431 916,379 2.133.988 3,IX)9,407 CREDITORS Amounts fallln8 due wlthln one year Is 12.241.379) 11,868,358) NET CURRENT IUABILlflES1 I ASSErs 107,3911 1141,049 TOYAL ASSEts LESS CURRENT LIABIUTIES 12.611240 12,621,733 CREDITORS Amounts falling due In more ihan one yur 16 18.3131 118,3081 12.602.927 12,603,425 FUNDS Unre5trScted funds: General fund Des58nated fund 18 10.379,918 2,223,009 10,570,106 2,033,319 TiyfAL FUNDS I2￿02.917 12,603,425 The ftnanclol statements were approved by the Board of TNstees and authorised for155ue on 30 January 2025 and were slgned on Its behaw bv.. E L Robinson-Green-Trustee A B Kintaid-Trustee The note5 fom part of these financlal statemÈntS Page 14 corbtinued... TrIE INSTITUTE OF LEADE RSHIP IREGISTERED NUMBER: 006010491 PAREiif CHARITY BALANCE SHEET 31 AUGUST 2024 2024 Unrestrlcied funds 2023 Total funds Notes FIXED ASSETS Intan8ible assets Tangible assets Investments li 12 13 84.155 6,092 12,220.269 72,746 10,593 11,177.519 12,310,514 11,260.858 CURRENT ASSETS Debtors- arnount5 fallln8 duè withlrt one year Debtors: amounts falllng due after more than one vear C85h at bank 14 2,206,686 1,603,233 14 500,OC 178,173 150,041 2J56.727 2,281,406 CRtDifoRS Amounts falllng dué wlthln one year 15 11,000,176) 1906,7101 NEfcuRRENY ASSETS 1.356,$51 1,374,696 TOTALASSEfs LESS CURRENT LIABILITIES Iy.fj67￿65 12,635,554 NET ASSETS 13,667,065 12,635,554 FUNDS Unrestricted funds.. General fund De518nated fund 18 IIA44,056 I.223,￿19 10,602,235 2,033,319 TOTAL FUNDS 13,667,065 12,635,554 The financSal statements were approved by the Board of Trustees and authorlsed lor 155ue on 30 Janugry 2025 and were slgned on its behalf by: As permltted by s408 of the Companle5 Act 2¢J)6, the parent cornpafiy has not presented Its own profit and kjss atcount and related notes. The companws surplu5 for the year was £1.031,51112023.' deficit of £348,725). E L Robinson-Green-Trustee Klncald-TNstee The notes form part ofthesefiThandal statements Page 15 contlnued... THE INSTITUTE OF LEADERSHIP CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 2023 Notes Cash Ilows from operatlng4ttivitles Cash generjted Irom operations 78,427 337.924 Net cash provided by operatin8 actlvltles 78.427 337,924 CBsh fl¢>ws frorn Investlng acllvltks Purchase of IntangSble flxed assets Purchasè of tanglble fixed assets Purchase of flxed asset Investments Purchase of subsldiary Cash acqulred wlth sub55dlary Capltal repayments 1372.7351 15.7501 180,3211 19.5601 15CKl,C￿l 136,1841 246.697 4,2351 19,9951 Net cash (used Inllpfovlded by Investlng artlvltleg J880801 383,6031 Change In cash and cash equfvahnts In th• report1￿ perlod Cash and ¢a$h egulvalÈnts at ih• b￿InnIn8 of the reportlni perlod I310￿52) 145,6791 lJ16031 1,272,110 Cash and tash eq￿1V¥1&￿ts Wt th• •nd of th• prlrtlng perlod 916J79 1,226,431 The notes form part ofthe5eflnanclal St￿eMentS Page 16 THE INSTITUTE OF LEADERSHIP NOTESTOTHE CONSOUDATEO CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGusf 2024 RECONCIUATION OF NET IEXPEf4DITUREIIINCOME TO NEf CASH FLOW FROM (JPERATING AcnviYiES 2024 2023 Net expendltufeforthe reportkng perlod1¥5 5)¢rthe Consolld8tsd St*ement of Flnanclal Actlvltles) 14991 1380,8541 Adju￿M¢nts for: Depreciation chargeg Gainslllossesl on inve51rn?nts Decreaselllncreasel in debtors Increase In credltors 183,288 I1￿42.?50) 565367 373￿21 188,412 285,289 1139,0401 384,117 Ntt ¢•ih provld•d byoperatlons 78,427 337,924 ANALYSIS OF CMANGE5 IN NEf FUNDS At 1.9.23 Cash flow At 31.8.24 Net ¢•sh Cash at bank 3XO,OS2) 1,226N31 310.OS21 916.379 Totsl a￿,0$21 The notes fom part of these flnancial statements Pa8e 17 THE INSnTUTE OF LEADERSHIP NOTES TOTHE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POUCIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The flnanclal statements of the charitable companyj whlch is a publlc benefit entlty under FRS 102, have been prepared In accordance wlth thè Charitles SORP IFRS 1021 'A(counting and Reporting by Charities: Statement of Recomrnended Practlcè appllcable to charftles preparlng their accounts In accordance with the Flnancial Reporting Standard applicable In the UK and Republlc of I￿land IFRS 1021 leffectlve l January 20191,, Financial Reportin8 Standard 102 The Financlal Reportlng Standard applicable In the UK and Republic of Ireland, and the Companies Act 2006. The flnanclal statements have been prepared under the h15torical cost convention, wlth the emceptlon of InYe5tment5 which are lThcluded at market value, as modified by the revaluatlon of tertaln 855ets. The Consolld8ted Statement of Financlal Actlvttles ISOFAI and Consolidated Balance Sheet consDlidated the flnanclal statements of the Group and its subsidiary undertakin8s. The results of the subsldlarles are consolSdare(I on a Ilne-by-llne basls. The pre5entatlonal currency ol these fin•nci415tatements is Great Brhlsh Pounds IGBPI. All amot&nt5 have been rounded to the nearest £1. The cornpany is 8 company limlted by guarantee. The members of the company are the Trustees named withln the Trustees Report. In the event of the ¢ompaTh¥ being wound UP* the Ilablllty In respect of the guarantee Is IlmSted to £1 per member ofthe companv. CRMCAL ACCOUNTING IUD6EMeNTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In preparln8 the flnantial Statements, the dlrector5 are requSred to make Èst1rn3tes and ass¢Jmptlons which affect income, expendlturè, assets, Ilabllitles and d15c105e contln8ent asseis and Ilabllltles. Use of avall8ble inforrnatlon and application of judgements are Inherent in the forrnatlon of estlmates, together wlth past experlence and expectations of future events that are belleved to be reasonable under the clrcumstances. Actual results In the future could dlffer from such estlmat*5. INCOME All income is recognlsed In the StatemeTht of Flnanclal Actlvltles once the charky has entltlement to the lund5. 5t 15 probable that the Income wlll be recelved and the amount can be measured reliably. Income from subscriptions 15 Included In the perlod to which the subscrlptlon relates. Sub5crlptlons pald in advance at the balante Sheet date re deferred and shown In credltors. Examlnatlon and centre re8lstTatlon lees are recognlsed to the extent that St 5$ probable that the etonomk beneflts wlll flow to the cornpany and the revenue can be rellably measured. EXPENDITURE abilitles are recogn15ed as expendlture as soon as there Is a legal or constwctive obligation commlttln8 the charity to that expenditu￿, it Is probable that a transfer of economic benefit5 will be requlred In settlernent and the amount of the obligation can be measured reliably. ExpendSture Is accounted for on an accruals ba515 and has been cla5s1fied under headings that a8gregate all cost related to the cate80ry. Where Costs cannot be directly attrlbuted to partltular headSD8S they have been allocated to activitles on a b85is conslstent with the use of resources. Irrecoverable VAT ha5 been charged to the Statement of Financial Actlvltie5. ALLOCATION AND APPORTIONMENT OF COSTS Resources expended are allocated to the particular artlv5ty where the cost relatès directly to that attivity. However, the cost of support of the ovefall operatlon are allocated to each artlvlty based on the prowrtlon of income generated. Page 18 continued... THE INSTiniTE OF LEADERSHIP NOTE5 TOTHE FINANCIALSTATEMEIIVS- contlnued FOR THE YEAR ENDED 31 AUfjUST2024 ACCOUNTING POIICIES- contlnued INTANGIBLE FIXED ASSErs Intan8lble fixed assets are stated at CO￿ less accumulated amorrisatlon and lrnpalfment 105se5. Cost Includes the ori8inal purchase price of the asset and the costs attributBble to brlnging the asset to its working conditlon for Its intended use. All a55et$ jre considered to have a fSnite useful life and are 8mortlsed on the followln8 bases- Web51te Trademarks Computer software 33% on cost 2Q% on cost 20% and 33% on tost TANGIBLE FIXED ASSErs T8n8lble flxed assets under the cost Model are 5t?ted at hi5torlc cost less accurnulated dèpTeclatSon and 8ny accumulated impairment losses. Hlstodcgl c05t Include5 expendlture that 15 dlrectly attrlbutable to brlngln8 the asset to the location £ondition necessary for tt to be capable of operating in the manner Intended by mana8ement. Depreciltion Is provlded on the followlng bages.. Flxtures and fittlngs Computer equlpment 20% and 25% on cost 33% on cosi The asset5, residual value5, Useful live5 and depreciatlon method5 are rÈvlewed, and adlusted prospectlvely If appropriate, or rf there Is an indication ol 3 5igniflcant chan8e slnce thÈ last reportlng date. GaSn5 and1055e5 on disposals are determined by comparinsthe proceeds wlth the carrylng amount and are reco8nlsed In the Statement of Fln•ncial Activltles. TAXAnoN The charlty Is èxempt from corporatlon tax on its ¢harltable attlvltle5. FUND ACCOUNnNG Unrestrfjcted funds be used In accordance wfjth the charfiable obffiectlve5 at the discretlon of thetru5tees. Restrlcted funds can only be used for partlcular re5trScted purposes wlthln the oblett5 of the char(ty. Restrlctlon5 arlse when speclfled by the donor or when lunds are raisedfor part￿ular re5trltted purp05es. PENSION COsr5 AND OThER posr-REnREMENT BENEFITS The charity operates a defined contribution pension scheme. Contribtrtlons payable to the ¢harltable company's penslon scheme are charged to the Staternent of Financlal Actlvltles in the period tu whlch they relate. INVESTMENTS Quoted Investments havè beèn included In the Balance Sheet at bld price. The relevant unreallsed gainl105s on Investment values, calculated as movement In the market value of an asset during the year is rewrted through the Statement of Flnanclal Actlvltle5. IDve5tment income include5 Interest receivable on de￿￿1t and income from 115ted irbve5tments. lTrvestments in sub51diary undertakings have been In¢luded in the Balance Sheet at historlc cost le55 any wentlal Impalrment. CURRETrIT AWT INVESTMENTS Current asset Investments cornprSse flxed terrn depos￿ accounts and are stated at fair value. FINANCIAL INSTRUMETrirs All financlal instrurnent5 are reco8nised at historical cost other than investments whith are recognised at bld or fair value. Page 19 contlnued... THE114STITUTE OF LEADERSHIP NOTESTOTHE FINANCIAL STATEMENTS- continued FORTHE YEAR ENDED 31 AUGUST 2024 ACCOUNTING pouaES- contimied FOREIGN EXCHANGE Transactions in currencles ￿her than pounds sterlSn8 are recorded at the rates of ex¢h8nge prevalllng at the dates of the transactions. At each repjrting end date, monetary assets and Ilabilltles that are denomlnated in foreign currencies are retran51ated at the rates prevalllng on the rep)rtlng end date. fjalns and 105ses arisin8 on translztion Sn the perlod arè Intluded In the Ststemefit of Flnanclal Actlvltles. OPERATING LEASE COMMITMENTS Rentals payable under operatln8 leases, Includln8 any lease 1￿CentIveS recelved, are charged io the Statement of Flnantial Actlvlties on a stral8ht41nè basls over the terrn of the relevant lèase except where another more systematlc basls Is more representatlve of the tlme Pattern In whlch econornic beneflt5 from the lease 85setS are consurned, GOING CONCERN There are no $18nlfltant doubts about The In5tltute'$ 8blllty to contlnue as a goln8 concèm as there are turrently sSgnlllcant cash and Investment fvnd balances. posltive net turrent assets and stable Intome streams. The Instltute contlnues to recelve Income from Clty & Gulld5 followln8 Its seporatlon. There are no materlal uncertalntles to be disclosed. DONATIONS AND LEGAaES 2023 Donatlon5 114VESTMENT INCOME 2024 2023 Interest on deposlts Oivldends received 10.021 355A76 10.619 337.624 365A97 348,243 INCOME FROM CHARITABLE ACTIVITIES 2024 Total activltles 2023 Total activliies Member5hlp & Examln8tion Other Individuzl membershlp Cornmerclal membership Other commercial incomè Examlnation and a550ciated fees other Income L224,678 823030 1,224.678 813,830 790,191 657,967 1,220,B06 785,647 623,134 843,228 43,051 7x1.191 L657.967 69,624 3.706A75 859￿19 4J66290 3,515,866 Page 20 continued... THE INSTITUTE OF LEADERSHIP NOTES TO THE FINANCIALSTATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2024 CHARITABLE ACTIVITIES COSTS Gfant fundln£ of activltles (see note Support costs (see note 71 Dlrert 61 Totals Membershlp ?nd examination Other I.81￿.807 31.loz 1.63&.￿1 5114.Y6 5,470.090 504.946 5,8rAI,807 31.102 2.143,127 5.975.036 GRANfs PAYABLE 2024 2023 Membershlp 31,102 The total grants pald to Instltutlon5 durln8 the yèar was as folbws.. 2024 2023 Grant fund awards 31,102 Durlng the year the charlty provlded grants to varknjs or8anlsatlons provldln8 mBnagement aftd leadershlp support. SUPPORT COSTS Governancè costs Other Totals Membershlp and examlnatlon Other 1.638,181 466,937 1.638.181 38￿09 2 105.118 38X#)9 2 143 127 NET INCOMfllEXPENDrfuRE} Net Incomellexpendlturel 15 stated after chargla￿{CredItln8). 2024 2023 Audltor5' remuneratlon Cornputer equlpment depreclatlon Tradèmark arnortlsation Website amortlsation Computer software amortlsatk)n 21725 5.579 11,7*10 10262 167,965 34.450 3.574 1.168 3,420 180,249 Page 21 contlnued... THE INSTITUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMEP4TS- ¢ofvtknued FOR TME YEAR ENDEO 31 AUGUST 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trtsstees, remuneration or other benelits for the year ended 31 Au8USt 2024 nor for the year ended 31 August 2023. During the year ended 31 August 2024, E L Robinsonfjreen received rèmuneratk)n of £nll12023- ELSWI from the Subsidiary company ABE Global Limlted in hls capaclty as a dlrectorof that companv. TrusrEES' EXPENSES Durln8 theye•r ended 31 A￿USt 2024 expenses of £9,61712023.. £2.2471 were mlmbur5ed to trustees. STAFF COSTS 2024 2023 Wages and salarles So(lal SecUr￿V costs Other pensloD Costs 2A30.395 258154 120.781 I,SJ9,114 160,379 82,470 2 810,030 1,761,963 Included above are also redundancy costs of £37,05012023'. £23.3361. The bvera8e fflonth￿ number of employees durfng the year was as follows: 2024 S9 2023 53 Membershlp and examlnatlon The number of employees whose employee beneftt5 lexcludlng employer peTh51on c05ts1 exceeded £60,000 was.. 2023 £60,001- £70.OIXI £70,(￿l- £80,000 £80,ty)I - E90,000 £90,ThJI- £IOO,000 £iLK),000- £iiO,000 EIIO,001- £120,000 E150,001- £160,CI)O Durln& the year ended 31 August 2024 an amount of £577.13812023- £432.0811 wa5 paid to key managernent personnel whl¢h Included redundancy costs of £37.05012023: £23,336). Page 22 continued... THE INSTITiITE OF LEADERSHIP NOTESTO THE FINANCIALSTATEME14TS- tt*ntlnuéd FOR THE YEAR ENDED 31 AUGvsf 2024 ii. INTANGIBLE FIXED A55Efs-GROUP Computer software WebS￿e Trademark Totals COST At I September 2023 Addltions Dlsposals lJl.987 8,195 990 2,592.921 371.745 1734,103 372.735 At 31 August 2024 132.987 9,185 2.964,666 3 106.838 AMORnSATION At I September 2023 Char8e for year Disposals 116,320 8,110 3A77 1.740 2,321167 167,965 2A41,664 177.915 At 31 August 2024 124.530 5217 2.489,832 2,619,579 BOOK VALIJE At 31 Au8USt 2024 8N57 3.968 474,834 487.259 At 31 Au8U5t 2023 4,718 271,054 292,439 INTANGIBLE FIXED ASSETS-COMPANY Computer software Webslte TT#demark Totals COST At I September 2023 Additions 8,195 1216.972 5L565 1.225,167 52,555 At 31 August 2024 l.Z68,537 1,277.721 AMORTISATION At I September 2023 Char8e for yeaT 3A77 1.740 &148.9 39A08 1,152A21 4¥148 At 31 August 2024 5,217 1.188,352 1.193.569 NET 800K VALUE At 31 August 2024 80.185 84,153 At 31 August 2023 4,718 68.028 72,746 Page 23 continued... THE 1145TITUTE OF LEADERSHIP NOTES TO THE FINANCIAL ￿ATEMENTs- ¢ontiNied FOR THE YEAR ENDED 31 AUGUST 2024 12. TANGIBLE FIXED ASSETS- GROUP Fixtures & ffttings Ctsmputer equipment Totals COST At I September 2023 Addltlons Disposals 8.726 166.030 5.750 417361 174,756 5,750 42,7361 At 31 August 2024 8.726 129,044 137.770 DEPRECIATION At I September 2023 Charge for year Disposals 8,726 155.204 5,373 42,7361 163,930 5.373 42.7361 At 31 Au8USt 2024 8.726 117.841 126,567 MET BOOKVALUE At 31 August 2024 14203 11,203 At 31 August 2023 10,826 10,826 TANGIBLE FIXED ASSEfs- COMPANY FIxtu￿S & f5ttings Computer equlpment Tot8ls COST At I September 2023 Additions Di5P05als 6,791 61N70 68,261 42,7361 1417361 At 31 August 2024 6,791 18,734 25,525 DEPRECIATION At I September 2023 Charge for year DSsposals 6,791 $0178 4.501 41.7361 57,668 4,501 {42.736} At 31 Au8USt 2024 6,791 12,642 19A33 NET BOOKVALUE At 31 August 2024 6A192 At 31 Au8USt 2023 10.593 10,593 Pa8e 24 coTht¢nued... THE INSTITUTE OF ieADERSHIP NOTESTOThE FINANCIAL STATEME14TS- ¢ontlnued FOR THE YEAR ENDED 31 AUGUST 2024 FIXED Ass￿ INVESTMENT5 Share5 in group undertak*ng5 5ttd Investments Totals MARKFfvALUE At I September 2023 Addltions Revaluations IL177h19 11177,519 1.042.750 L042.750 At 31 August 2024 i￿? 11220.169 12.220.269 fr1￿ BOOK VALUE At 31 Au8u5t 2024 loo 12,220.169 12,220,269 At 31 August 2023 i(x) 11,177,419 11.177,519 Listed Investrnents at 31 August 2024 were made up as follows: Cate￿ry UK and Over5tas Equltles PrSvBte EquSty and Other Infrastructure and OperatlngAssets Property Contrattual and Other Income Flxed Interest Cash 4nd Near Cash 2024 IY61 70.86 3.69 9.30 41 20231%) 72.07 3.25 6.86 3.07 2.04 8.73 3.98 Tot•1 loo.00 100.00 Cost or valuatlon at 31 Av8USt 202415 represented by: Sharns In 8mUP und•rt3kln Investmen Tota15 Valuation In 2024 Cost 12,220,169 11220.169 100 100 100 12.220.169 12,220,269 The company's Investments at the balance sheet In the share cawal of companles Include the lollDwln8'. Page 25 continued... THE INSTITLrrE OF LEADERSHIP NOTES TOTHE HNANCIAL sfATEMENTS- (ontlnued FOR THE YEAR ENDED 31 AUGUST2024 13. FIXED ASSEf INVESTMENTS. contlnued Leadersk1115 LI￿ted Rew#erod office.. 19 Hl8hfiekl Iload, Edgb35ton. Blrmlngh•m. England. B15 38H Clo55 of share.. dlnary sharés holding 2023 A88re8ate capltal and ￿$t￿e$ Proftt for theyear ABE Glotr•l ilmlted Re8lstered offi(Y.' l*w Mald•n 8u$lne55 Centre, 46150 Coombe Road, N•w Malden, en4land, 4QF lass ol sharq.. Votln8 rlghts IcomwThy Ilmlted bY8￿rantee> ho1dln8 ify) glm.2024 51.￿.2025 regate caprtal and reserves IL0$5lfor the year (J,W,1381 1925,6BII 1138,4571 1490.7811 Th• As6od4tlon ol Buslnoy ExKuii¥•s Llmii•d Re815tered offlce.. New Malden Buslness Centre, 46150 Coombe Road New Malden. En8lind, 4QF aass of share.. vo￿n8 rl8hts Icomp•ny Ilmlted by guaranteel hoklln8 31m.2024 31.12.2023 8rew¢cèpltal ènd reseNes (Lossl foi th• year DEBTORS r*oyp ompanv 1024 2023 2014 2023 Amounts falllng due wlthln l year.. Tra(*e debtors Amounts owed by group undertakln8S Other debtors Prepaymenls 35L029 483,943 93,970 1,464,481 500,000 148.255 154,263 835,517 5CQ,000 113,453 621A61 24S,119 578.088 216,369 1,217 1,278 400 2206,686 1,603.233 Amounts falling due after more than l year.. Other debtor5 so0,￿0 500,OCKI A88re8ate amounts 1.217.609 1.778,4 2306.686 2,103,233 Page 26 continued... THE IN¥fiTUTE OF LEADERSHIP NOTES TOTHE FINANCIALSTATEMENTS- contSnued FOR THE YEAR ENDED 31 AUGUST 2024 i& CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Comp4ny 2024 2023 2024 2023 Bank loans Trade credltors Other creditors Deferred income Accrued expenses 10,648 773,379 197.140 943.589 316.623 10.648 375.308 104,732 1,031,751 345,919 32,130 56,215 571.431 246,934 117.909 530.876 252,907 2,241,379 1,868.358 1.000.176 906,710 Membershlp subscrlptlons are payable In respect of a rolllng 12.rnonth period and are credlted to Income overthe perlod to whlch they relate. The rem8lnin8 balance on thls income that fa115 Into the followln8 year Is shown as deferred Income. No obll8ation exlsts to repay thls or any part ol r( to members. Dèferred intome Is shown 8s lollows: Group Company 2024 2023 2024 2023 Balance at I September Amount released to incomlng resour¢es Amount deferred In the year 1.031.751 11.031.751) 943,589 9(KJ,955 1900,9551 1,031,751 571,431 1571831) 530076 719,709 1719,7031 571,431 Balance at 31 Au8USt 943,589 1,031,751 S30￿7• 571,431 16. CREOtroRs: AMouKfs FALLING DUE IN MORE THAN ONE YEAR Group Cofflpwnv 2024 2023 2024 2023 Bank loan5 1-2 years Bank loan5 2-5 yèa 8.313 10.648 7,660 8.313 18,308 17. LEASING AGREEMENTS Mlnimum lease payments under non33.319 1221,6491 221.150 31A60 131A601 10,379,918 2,213,￿9 TOTAL FUNDS 12.503A25 1499) 12,602,927 Net movement In funds, Included In the above are as follows- Intomlng re50y￿e$ Resources expended Galns and losses Movement In funds Unr•strl¢ted fvnds General fund Leadershlp 8rant fund 4069.225 61562 15.943.934) 131,1011 853,060 189,690 1221.649) 221.150 TOTAL FUNDS 4 931.787 15,9750361 IM.750 ￿499) Comparatl¥•s for mov•m•nt In fvnd5 Net movernent In fund5 At 31.8.23 At 1.9.22 Unre5trlrted fvnds General fund 12,984,279 1380,8541 IL603,425 TOTAL FUNDS 12,984,279 380,8541 12.603,425 Comparative net movement In funds, Included In the above are a5 ft>llow5'. Incomlng resources Resourtes expended Galn5 and losses Movement In fuThd5 Unr•5tr1rt•d fi•nds General fund Leadership 8rant fund 3,848,951 15,198 13,959,674> 1303,4501 18,161 1414,1731 33,319 TOTAL FUNDS 3,864,109 13.959.674) 1285,2891 1380.8541 Page 28 contlnued... THE INsnTUTE OF LEADERSHIP NOTESTO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2023 MOVEMENT IN FUNDS- COMPANY Netfunds movement Fund Transfers At 1.9.23 At 31A.24 Unrertrlcted fvnds General fund Leadershlp Rrant fund 10,602335 2,033.319 810.361 22LIS0 31A60 131A60) IL444,056 2,223 TOTAL FUNOS I2,635￿54 1,031.511 13.667,065 Net movement In funds, Included In the alxjve are as follows: Incomlng resources Aesources expended Galns and losses Movement In funds UTrr•strlct•d lunds General fund Leadershlp grant fund 2,526.687 61562 Il569,3861 1341021 853,060 189,690 810.361 22LISO TryfAL FUNDS 031.511 Com￿￿￿￿10t mmment In fvnds Net funds movement Fund Transfers At 1.9.22 At 31.8.23 UTrrestrfrted lund¥ General fund Leadershlp grant fund 12,984,279 13B2,0441 33,319 12,¢J)O,0001 2,CQO,000 10,602,23S 2.033,319 TOTAL FUN05 12,984.279 348,72SI 12.635,554 Comparatlve nèt movement In funds. Included In the above are as follow5.. Incomln8 resources Re50urce5 expended Gains and 1055es Movement in funds Unrestrlrted funds General fund Leadership Brant fund 2.552,840 15,158 12,631,434) 1303,4501 18,161 1382,0441 33,319 TOTAL FUNDS 2.567.998 12 631,4341 1285,2891 1348,7251 P￿e 29 continued... THE INSTITiITE OF LEADERSHIP NOTESTOThE FINANCIAL￿ATEME￿IrS- contlnued FOR fHE YEAR ENDED 31 AUGUST 2024 i& MOVEMENT IN FUNDS General fvnd This fund represents the freefund5 of the charity and group that are not designated for particular purpose. This fund is desi8ned to fund prolectsthat support The InstStut¥s mlsslon of 'insplrln8 8reat leadershlp everywhere.. 19. EMPLOYEE BENEFIT OBLIGATIONS The Group made tontribution5 on behalf of its employees to a defined contributlon pensSon scheme. The number of staff who have accrued retirement benefits under the defified tontribution scheme was S912023'. 531. Durln8 the year contributlons arnounted to £120.78112023: £82,470) which a￿ included In the Statement ol Flnanclal Artl¥itSes a5 they become payable. The number of staff belng pald more than £60,(X)O who are 8ccruln8 benellts nder defined contrllwtSon arraThgements was 512023.. 41. RELATED PARfi DISCLOSUAES The charitable company has taken advantage of exemption, under the terms of Flnantlal ReportinB Standard 102 'The Financial Ileporting Standaftl appllcable In the UK and Republlc of Irdantl,, not to dlstlose related party transactlons wlih wholly owned subsldlarles withln thegroup. There were no related party trènsa¢tlons forthe ye•r ended 31 August 2024. CAPITAL COMMITMENTS A5 at 31 AuKu5t 2024 the Group had capltal comrnltfflents of £63,29912023.' £94,687), all of whlch related to 5ubsldiary undertakin8S. 22. ULTIMATE copinioLUNG PARIY The Instltute Is controlled by Its OlrectorTrustees. Page 30