[1xu￿9n Envdope ID. AD100D14.DFC4414A499&92830AF8E586 REGISTERED COMPAYI )' Nl IllBF.R.. 00931$47 (England and w￿leS) REGISTERED CHARITI. ILIIIBER.. 258390 REPORT OF THE TRL.STEES A ND FINIINCIAL STATEIIENTS FOR THE I'EAR El*DED31 MARCH 2025 FOR Ir*STITIITE FOR EIIPLOYNIEYT SI'I'DIF.S A CONIPANI. LIIIITED B). GI-.4IUNTTr:L ChaTioI I IL)use LÉmited Chartered A¢¢i)unLants tsnd stslu￿ry AuditsTrr 44 Gr92830AF8E586 IYSTITiiTE F R &￿IpLo1.￿lFryT 5TI,DJES REC.i%fERED YI'IIBER.. 00931U7 REPORT OF THE TRI.'STEES FOR THE I'EAR EryDED31 Il IARCH 2025 The trusteLS ivhts dre aly) direclors of the C￿111. for ¢he purw)sts of the C￿nI)8￿1eS Aci ?IXkn. present their re]x)rt the rinancial 5taiemenis ol- the chariti for the %Vdr ended 31 MarLh ?O?i. Tri¢ tsuslee5 have adopied Ihe pr()ki%ions or AcKI)unting and Rcwrting b). Charitie5'. Stalcm¢nt of Reeommended 113L'II(Y 3pplic4ble to charitics preprittg thesr accounis in acioTdanL¢ ii'lLh the Financial Retx)fling Stan(lard atvlicable in the I IK and Kepublic of Ircland 11.-RS 1021 l¢llecliNe l January 2019}. OWErfii'Es ANI'D klCTII'ITIES Objectives *im5 The-l ru%iecs contirm that th￿. hai'e had due reganl io ihe Charili" CoThmissiiin's genejal guidance on public benefjt i14Jen r¢Ni¢iving the InstitUlL s aims and objeaives and in planning futUTt acÈivities The Insiilute tor F.rnplo%'meni gudit5 IIL%I. eslablished in 1969. is an in(w&nL aEX)litical. lnlernatior￿I certlre vf research and *Si"ILe in cmploi'mcnL laix)ur rnark¢E and human [c￿￿Tre isSUCs I'he Insiituie's prinripal objectll'L is io ￿1p bring alx)ut sustainable tmproitmcnt in unploi mert wlici and h￿Man rwwr" managemcni. ThL LhoieL C)r typics atyj theme.s (?n iyhich the In￿lI￿(e iwrks i5 dire￿15 influ¢n(Kd b). current and emerging ￿ed5 of rKilicJ-tndkLr5 and emplo)'in8 OTg3n15aEions. ThL Insiitule aitns to (b&SemIn￿ .:he re5uIt5 of its work iiidelv. in line ￿'1th it5 charitable objedii"cs. 'Ihe i%'ork ol. the Institute the g¢￿eral public. and iiidLY eco￿￿1)71. artd SOClL*N". ￿. helptng al lo increase undcrstandin¥ 3nd impK)i'e thci5ion-makin¥ ￿ public iM)dies un vmplLiin.eni land uncmploTrmenii i55ue& and bl io improiL humdn ￿￿oUrCe manalemcni in emplo!"ing or8aniskll(M15. 1.he In￿1¢￿¢ 15 commilled lo ensuring that its Motk 15 boih u5etul land usedl. and aeLe%sible to a Hide audiencc. The Insiituie's me(lium-iern) SlrJtcao ' is mieiird ei'co. thre¢ fI￿t leats. T* last re¥iei¥ 14.as compldeLI in ead). 2020, 2nd ilr key strJtegit privrities iihiLh inllucnceil busines5 planning durin8 ?0?4-?i iirre Lo.. M&intain TES'% w)sition a leading proN"ider of liK twblic tx)lie) Tf5Vdreh ei'aiuatiimj 00 areas relaled to ernplo)'mcnL education. ski115 and FIR mdndLietn¢nt a￿1 ]Marticc. (troii" our impact in our lour prioriii. dreak Ii'hich are wi'¢red in more dethil later in this rerx)]L Continlle iii adi'oeate for cN'ithrKc-iwsed polici. and PraLti￿ [￿rticUlarl>. through our Trials Uni¢ and by working in partn￿￿hIp ii'ith'iihal i¥orks' L*ntie5 and (xheT 5takehol&r5. Coniinuc lo impmwr ho￿ lie iiDrk- as a icatn. I￿1[din￿ ()n the WiOrilie5 idcnEif led in our Ini'estors in l)eople plan. FaLus on itnproi'ing at￿ joining up our iarious l.¢aming aThJ D¢i¢lopmenL optMTrrnJniiies within IFS. C'iintinu¢ to ini'esi in and improie Lwr use of technolog%"_ Nl'ork i¥ith the Ini'oli"L*nent and Parttcipaiii)n Associati¢bn IIPA) io build on inrrca5ed s¢U￿ and orgoni5ativt2al i￿￿rIES rc3ulting Irom Ihe rttent Mer￿er. Continue it> k tinancial sustainable. i%'iih L)tKrdling iTWtnc high￿ than exrKndtture atxi ivith a for%¥ard order Ix)ok at a 'alue e.KL¢edino six tnonths of ￿￿(1￿B LU)sts. Pa4e I £k¢uslon Envekjpp ID.. AD10DD14.DFC4414U99&92830AF8E586 INSTIT(."TE FOK EMPI,OI',IIE)'I' STL DIF.S REGISTERED NI'.IIBER.. IM1931_417 REPORTOF THE TRI'STEES FOR THE I'EAR ENDEDJI 11.4RCH 2024 OR1ECI1￿.￿s.4￿'D Acfii'iTIES Achievemethts attd ,Ictii"ilie5 This ha5 b¢th a iLdf L)I- LL)niinued siabiliti groiith for IES and iii. haic conilnued ii) 8￿1￿. Trur impacl in our priorii%' are￿7%. inerLasL iiiir inLiTrtnc Iri)ni prL)i¢it% in theN¢ impruie hc)i% 11¢ iiork in1Lr￿lI1. Ile ar¢ JIM) pleased io be able io rL'wrt a smlill financial 5urplu5 lor our si.Kth SWLLS5iir !"car. Our i¥'ork. this }tar i%"a5 gyided b). four priortii arvds as lollthis.. )l#kÉng work better - SupEN)rtino morL inLlusiie and LtTi'LtiiL ￿PIC rnanaocmcni PrnLIicLS". IIY)Tking m.ith cThploN'cr5 and iioi'kforLe% lil impr(J%e i%()rk.Ivri¢ planning anJ p￿rtUnItIeS and challen?cs In)m ￿pUlatiOn asLin& FX>51-El]riil M'orkin& ieLhnologiLal Lhanoe. hi brid i%ork and ihe irnnsiiion ￿ na ¥Rro= ar¥J using daLa and insighi to suprrfm public ]x)lic) anid prdLI&Le dnd IIK Md￿LILl￿tnI On mAking v'ork better. thc kii fc*u8 hth8 1)een ts) 4knortSira￿ ihrou£h iiwk- IM)ii' improi.ing i¥orkplace practiccs is good li)r busin¢55 ￿ ii¢ll Js Ihi. Iic)tk.Ivrie. This run ihrouoh our prn)ordmme lif eienis including i)ur annual Lonference on Ll"ealing a sustai￿bIL i%ork.lorce as iiLII a5 pAijeci ii.iih tx)licirnaker& ctnpli)i"cr r¢p￿ILn(allle Ix)dit%. and emplo! ers lon indu51fiiil ￿laITI)n$. Lfft￿rs. IILirkforcc plannino and d¢1 eloptRenL leadership dnd Iirgani5iiliiinJl LhJng¥L. ernpli)N ev enLTa¥emeni attd i%ork'plaLC health). -rh¢ IPtr%'s Thelii"ork'5 haie irtcluded the Emplo%"ee Vi)ice 14ub. compi'ising orkli)rLi rLprLsLnutiies and HR and l.'R pr&tilionLYS tA)m acros5 indusir¥ and Ihc Il'ork- Insiglii% Crfilup cro&4-scctOTal group nf %¢nic)r IIR and F.R prnciitioner& uradcrnsLs ry)lii! make￿. In Lnable us io ideniili. kc! luiure Irends and continue 10 dLieli>p supFK)rl 4nd iL¥S 10 iniluenle and a£kir¢s5 Ih¢se. ID i4iJ¢r iii)rk. are helpinq shapL IhL dLbate and praLtiLYs a￿Und ftrk"placL irials of neil. appmachcs in partncr5hip MTih'l irnthNi¥'i: Dur pro£ratnme on i(iung r￿ple'S tuillrc tor thc Ilcalth Foun(knti(In ¢i)niluJed this )'ear li ith major studi¢s looking al mLntsl hcJl¢h in i¥i)Tk' and L'mploicr pracl1iL￿= atKi our PL'RI)OSE PT()¥ramme on L)bL'Siii and iiork is continlling io shine a light the t￿L￿ fror inpn)iements in iiT>rk"plxc p)IiLTh and praciic<.. On Emplovmtnt opportuNitv for all.. ile hai'e ken a l¢dding and LenirL 01-ex￿niSe around rai5in8 panicipaliiin in ii'orL dddteS5in¥ inL4ualiti¢5. ()ur i4c)rk. has kn-n InlluLnil￿ in gnicmmcnt dccisic)ns i() fund and then cipand accc55 tts emplol'ment 5UPPOrt foT gr()ups 0￿Sid¢ ihc lJlx)ur fi)rce. ]r￿ludin￿ ini'¢suncnt in .5￿LialIst SUPFX)rt for thi)sL i¥ith h¢alth Londiiions folloi4.ing th¢ findin45 from É)ur ei'aluatiL)n ol-tk Health Led r.mpli)Iment l rials in ihe af Ipsir. i%hich arL' also Li'aluating. ()ur iiork ei'aluaiin8 ihc Plan fnt Jc?b% has infomicd dc£isions on thc rollout and Ilelii L't% of sUpr￿rt in .lobcentre Plus and through conlr&LILd proi isiiin. Thi5 11.as funhere¥thanL*d thft)u#h the publicaiion vf the lit￿1 retK)rt ol-the Commission on ¢h¢ Future ol. F.mplo%m¢nt SupF¥Xt- i%"hich is inlorning strategi loi d rt￿1 jobs and Caree￿ .s¢rn'ic¢. Cullaboratiort ilith Ihe Youih l.-utur¢s FotsndaiiO￿ in ￿1n7¢u1aT the Ytsuih Emploi mcni T(￿lL1t (fi￿ and sL¢ottd ediiion rted (his ¥earl. is 5UPP(ITling Eener dccision-Tntik"irt? on li￿ desion and (leliitrTr of5UPPX)rt for ii)ung people. We al￿Tr led re8eiirch into ii'hat iii)rk's in si 5tLryll5 clwngL inier%Lniion5 10 infortn pl￿e-[￿L%￿d irtitldllKLS supryffted bi Youth I".ulur¢s FvurtddiiL)n and li'ith broader Jvleianee io the dci"olulioD (?[ L'mpli)Imern scTh"Ic￿. Along5i(le. ()UT Ihn)ugh the ReAct Partnership has continued to.%upport Improle￿nI and LX)Ilaix)rniion in the &lii"en' uf Ihe Restsm Scheme lor ihe longs.[emi unernplol'ed. Drvjsyn En¥ekJpe 10." ￿loODI4_DFcm14A499￿9283oAF8E￿6 INSTITUTE FOR EMPLOY*IEhTSTUDIES REC.ISTERTr.D Niif*lBER.. IMI9JI4¢7 REPORT OF THE TRLSTEES FOR THE I'EAR EPIDED 31 IIARCH 2025 0￿ECTI%"Es AND AcfiN'ITIES EdutAtion life chances.. ()ur sx)rtfolio of 1sDrk in the rthration and fdrli. i ears space has coniinued ￿ go from strengih to btrnngth. l4.iih a ￿nicular fikus L)n caTI)' l'ears including thr(Mzgh thc cont1￿uatIOn of our iiDrk on Tips b? TL.iI Io improi"e parentdl 5UPtx)rt for child languaoL l&Lr[un￿ publicauon OC *udies includirtg ￿ flexiblc phonics. a ncw leaching iipproach= and the'fales Tuvlkil. In 1fv19 educalion. lie ¢%alua*d hvA" addItK)n￿ hciurs funding i¥as implemented in 1fv19 educaiion (o supwrt ltrJm¢Y5 lolloiiing ihe disruption ol- th¢ C oi"iu-19 pan¢kmic. examining its use. perceived impaci. and I¢￿50n5 for future (kli&en. Il'e Lonlin￿d iiotk L() SUp￿rt tM)IiL!' and thlii'cry ar(iund fi[￿ncE￿I 5UPPOrt for studLnt% ihrough the %tudcni InLomc and ENpenditure SuTh'th lor Englartd and wal￿ and SUPFK)rted the dthelokxnenl of the le4LhL'r ivorkttsree i%ith our el"￿Val10n of li￿. Earl!" Larecrs l."ramcii'ork-. i%hitl 15 hal.ing 5igBificant impaLt in dcNeloping Ihe Lareers uftLr li?r teaiher& our %itsrk Iwking at thc broader pry)fessK)nal deN'clorrfneni nf iea¢heTS through a cohort stud%'. OUT NV(ITk in the carccrs srdLt supw)rts ihe life ehanccs of all indii idua15 Ihrough loLused PTL)je¢15 on kes. groups such a5 the cyaluation of %i)uth iransitions initi&tise5 funded ￿. the Carecrs and LDteTprise C'ompanN. particular sectors suLh as Lon5truction i4'herL i%e thpl(Ying outreach ai¢ii ities tv diiersif!" Lhe tslent Trx)I for ihc Con%In￿lI￿n Indu.4trie5'1'rainin8 Boar(L tcgiotL5 throu8h our ii"(Itk" iiith M'eh( YorkshirL' Cumbbn¢d Authoriii LO help thLTh deiclop their All-age c.a￿erS Blueprint. Preparing for the future= Ihis ar￿ ha5 gro1￿ in imrM)rtance during the i'ear. Wi¢uknrlv in our effo￿ ¢0 tr). to influence thinking aTound cmploi'm¢nt. educa150n and skills in the P3rliameni. A5 neniione(L ollr Cvmmi55ion on the Fllture of Ernplo>ment Support I￿¢n a keN mean5 Ot. Ik)ing thik alongside the l!)A Wtrt In5j8his Group and our i)nguing ¢ngagemLnl ii'iih dccisii)n-mak-ers a[￿ rn￿11&. Oui PTL)j¥cI Iiork has als(i beei. incre&singl} f(ru5cd on thc future of ii'ork vith multiplc siudics for k¢￿. 5eaors of the worM)m%' i)n ltsiure sk.ills [￿ed& loiig-t¢rm 14Drklorce pl￿ning. and anticipating and respjnding io fuiure i¥0￿rorLe Lhallen8e% aod op]xYtunities. STRATEGIC REPORT FinHncial poslilo I'hc >Lar en(kd i Isi Mareh 202) r¢cor&d net in[￿¢ o¥ereiF*nditurc ofbo.374. Tothl ￿*￿V£S Icimiprising unrestricted fund5 2nd rnstricied ttsnd51 noii. sia#d a¢ £1.579.718 rcseTr"LS wliLi ￿[0%￿). B! o)mparison. thL prc%'ious ￿riod cnded 3 1st fv13rch ?0?4 JEcord¢d inCUEne o¥"er *￿￿ndit￿re of £8i.?24. l otal income fvr the y￿[ en(kd 3 IA JMa¥rh 202) amovnicd £4.085.959 Com*r￿ 10 £4.IN.76* in ihe pre￿iOuS perio Total eN￿ndIture for thc year enikd 3]￿ .Uarch 20*5 amoutttcd 10 £4.Oi5 485 L%)m￿ed 10 £3.921.538 in the pMious period. Investment polic}. objeclive5 ThL O¥L'rriding prinLipli' guiding thc inieAm2nt of surplus cash b8]a]]ce5 is the ptrKrn'￿lort of thc capitsl value of the The objectii ¢ lor ini'L%ttncnt pitrw)se5 IS li) achiei"e a g(MKI r¢lvrn i%hi15t minimibing risL I'his has t*¢n aehicved lry inN'e81ing cash in high inlerL%I dews11 aLLI)unts. The ai"crngc on ini"c51'.nenLS in th¢ N&9r ended 31 Mareh 20?5 was 2.7Vp l?0?4.. 1.8%) Page 3 Dowwgn Envelope ID. AD10DD14-DFC4414A-8995-92830AF8E586 NSTITI'TE FOR F.IIPLOI'NIFNT STI'DIL REGISTERED liIIIIBER: 00931417 REPORT OF THE TRIISTEES TrOR TIIF I'E.4RENDTr"D31 11.4RCII 202$ STRATECIC RFPORT Finantl4I1 re1.le Re5ev4'e5 policy 'I"hL In£iilute maintain5 reser%'es. ii'hieh Lm)m￿Se ¥L'5triLled funds 3tHI UllTestrictLxi I￿n￿s. Restricted fund5 ￿lat¢ to granl-fund¢d PToj¢Lls. unre5triatd funds are Cl￿dable ai the distteiion of the b￿rd Mcmber5 and used in Ihe lurther2llC¢ ol'ihc Instituie's objeLiiies. The B()ard consi(k'r th¢ rc%'rs'e5 5uITiricni ¢0 prw"i(k for rhe InsTllUte'4 truiu￿ rLNuircmenis. It is the Jx)licfv of the In5tilut¢ lo genLratL suificiLnt 10 maintain thrL* io si.x mi)nihs' i)￿rn11ng li)5￿. The TLSCn C5 as at thc cnd ot. the )car arc £ l.i79.718. u)mprtsing unr¢51riii¢il lunds ol. Ll.714.71)8 and a Ll¢liLii vl-r¢Ari11ed luThd5 01-£13i.080. The huard ¢on5id¢rs that curwnt rcscncs are adcquaic 10 meei currcni n￿raIlryg ￿ed& Future plans l*iink"ing ahcad. cnt¢r )(_{? in gnod Sha￿ tinancialll IN"IEh a 51mng and c(Ycrlii"c teJJn. Ilniiever. lic arc cleur thal the ouilook lor the LK eLonomi' and public ￿11¢￿. rthiains uncertain. Ihc firsi change of ooiemment in 14 i'trJrs crcaicd unccrtaintl and disrupiiiln in tsur i%ork in the short lejyn. bul L)ur (hder BLN)k lvl I4ork. that lie haie alread) secured bul nol >'et dLliK"eredl reJnain5 relaiiivli" hLalih!. l.Th)king lurthcr ahead. Ihc CUTrcnt 4oicmmcnt %hould noii start io crcatc nciv opp(Jrtuniiie% oi'er thL CDmtng ! car5. gii.en thc likLl%" 1nCrn4￿d fthus tx)¢h JLtii"e suppl% %ide w)IiLies and i)n imprn)iing %'ork'place praLiice though lie aLknoi%leLlgT¢ funfiling Te5triLiions in LurrLni L*wnomiL cliinaLL": i%'hilL in Ihe ii'ider eLonomi' li'e are *eing incr¢as¢(l inlere%t dnd app￿tilL. In ISSULS an)und i&cYktOTce straieg%' and planning. liealih and "ellbcing at 141)rk. ¢qualili. dii'LYsiii and inclusion. and cThploi"Lr i"(iicc engag¢TnLDi ￿ a r¢suli lif changL% tx)ih in thc laE*)ur markei and ihL likLl% direaion of pubiiL ]x)IiLTh. M'e rL'main i%ell plaLed io resrK>nd io thes¢ OPPOrtuniiies in th¢ e￿S dhead. STRUCTURE. GOI-ERNI AICE,IID ￿lANAGE￿IE1T Governing document 'I'li¢ InAiLUl¢ lor Ltnplviment Siudi¢5 IILSI is a regisierd Charip" and COTnpJn!' limited b%. gUaran￿e 8oNemed b). its Articl¢% ofA*wciaiion daicd Oct{)￿[ ?OlJ. The Artiele5 of A&￿latIOn iiere amended in 2013 10 proi-ide for a single ii¢r ofgolernancc. Lhc Board of TTu$￿$. M¢mkr.R. earh ol'iih()m agrLT io coniribute £10 in the ci.eni (If thi Chariii iiinding up. are the Trus1ees of ihe Institule and shall admii to memiK'r5hip Tn aLLordaniL' Illih ihe p￿1 isions L)1 ihe ..Inicles. A Trustce shall hi)Id urfice lor a period uf Lhre¢ %¢drs is ¢ligible for re-cILXiiOn P￿￿ldr￿ iha¢ Th) Tws¢¢ rna%' scr%c for mole Ihan nine ci)n%ecutii e l.ears ol otfice Re¢ruiillheni And appointment of nem tru5ttts As sel out in th¢ Arti¥l¢s ofAss(KialK)V. the Eloard of'l'TUStCe5 rna!" fTt)m lime io iÉme and at ani. tiTne Jpp)ini an> Ferson as a'l ruslee either to till a casual ￿aCanC￿. OT ￿. ii"a! of addilivn to Board. ()n aptK)intment each Tru￿ee is proi'ided ii"Lth NleTh)randum and Articles. artd a copl of C-ommi&sion publiL-Jlion ThL Essenil￿ Truste<. NLII "I"ru5teC5 merl Iiiih the Cknair and Dirtc1(Ir#nd are ini iicd io Ihe In5tilul¢'s offices. Docuspon Envebpe ID.. AD10DD14-DFCU14A-899>92830AF8E586 IN5TITLTE FOR EI¥IPLOYIIIENT STI'DIES REGISTERF.D YL'NIBER.. 00931U7 REPORT OF THE TRLISTEES FOR TIIE YE.4R EIYDED JI ,MARCH 21125 STRIIC.TIIRE, GOVEILNANCE A￿D IMANAGEI.IENT OrganisatkOII 'I'he Illmrd i)t"'l-rusiees matjages ihr bu5ine5s ofihe Instiiuie and ma%. exerc1￿ J]1 such rx)i%eis of the In#iiut as aTe r)oL bs. Ihe ALL VT bi. thc Articles. requircd io ￿ exereised Ety" the Subject nr¥rrthtle5S to the provisions of the Aci or the Arti¢l¢s. The Bii3rd ivhich ￿ hai'c lthi'een six and li meets four times a l'ear. A Director is app)inled by the Trusttts to manage the 0￿rntionS ot- Charii%". To facilitate operatioiis the Dirtaor ￿lS d¢lrgatcd authority. for operational mallers. The B"rar to ensuri iontinuii%" ot funding thTuuuh ￿taIned Cash sllrplllse& C.'urrencv risk The charitsble Compan￿ 15 L.XTX)*d Lo minimal tran￿17()￿ translation foreign exchange risk. The ch)ri￿ble Compan% s exposure t(1 ihesL is maNoed Ihrough lh¢ use ol-iwnk JLLounis in ihe swne CU￿"ncI. tern￿[5 ol. IhL Board monitor a wgular knsis ri5k-5 and the efT¢aii'enes% nf the SI"￿eM of intcrnal control 0￿rated REFERENCE AND AD%IINIST114TII'E DET,IILS Registered CompMth• number 009i1547 IEngland and 11 ales) Registered Ch*rltv number i8i90 Page 6 rKus4n en¥eb?￿ ID.. ND10DD14-DFC4414A499&92830AF8E586 IPISTITLTTE FOR E%IPLOI'%IETrtt STLIDILS REGISTERED Yi UhlBER.. 110931547 RF.PORT OF'I-HF. TRIISTEES FOR'I'HL I EAR ENDED 31 11 1ARCH 21125 Rtgi$ttreql offite 3rd ri()or C'IN. Cjaie 185 1)i'k¢ Road Brighiun F.ast su￿*￿ BN3 I'l'l. Trustees Ms R K Kular IrLsigned fi.'6120741 .1 R Greatrex (resigned 3112no?5} Ms K l)oc)le Ms S Cook IresignLd i1&20251 Ddn)L C BlaLk Ms L %teK%art Ms L (' Circgori" G 81¢¢1 M8 D K Fr05t lappoinicd i1&20241 N Hathiari lapwinied 41fv'?0?41 M5 L l. Ilu¥hLS13pwTrinted 41&.'20?41 Ms N fvlCrnanus-Il￿¢lt lapFAiintLd 416r20741 Compan>. Setreta Ms S L Anderson IrL'signi'd ?71(wV{1?51 Mr A F l.loN'd Idppointd ?7K6n02i Settlor St8tutorv Auditor Mark Paitrillge FCA Auditors Charioi Hc)use Limiied C.'hartered AL¢[￿nIan1S atxl Ststuton. Auditor 44 (irand Paradc Ilri8hlun BN2 L)QA Banke BarclJN's Il&nk Pl.C The 01(1 Bank Hi8h Sirt¥t Solicitors SIunL' King Lloundth. Flousc 91 C'harterhiiuse Street London Fel￿16HR Page 7 DOCu￿9n En¥ekye ID.. ADIODD14_DFC44?4A4995.9283(WF8ES86 IYSTITlI'fF. FOR E%1PLOI'IIENT STIIDIES RECISTERED NLI,IIBER: 00931447 REPORT OF THE TRI'STEES FOR TEIE I'EAR E.NDED 31 )T.-IRCII 202 REFERENCE AND AD￿lIN[sT￿￿TI%'E DETAILS Institute direttur STA TE￿IK￿r OF TRlisfEES' RESPONSIBILITIES The irnstL*'.s li%h(i ar¢ alEo ihc dir￿li}r5 nl- In£tiiuic lor l--m￿0￿ment *udies for ib¢ puJrrt)%5 of companj la￿) are resp()n5iblc for prcparing ihe RL'wrt ot- Ihc Trusiix's and thL' finanLial in acrordancc iiiih applicahlL laiv and Ilniied Kingdorn Alcouniing %iandards (L'nilL￿ KIn￿￿)M ￿er￿lIN .4ccepled AiLI)unting PraLIiCL'I. cOm￿nN. lai4' requires the fftisiees to prep￿￿ finarKial %thiemenis fiTrr trdLh fitunLiJI lear. Undcr that laii.. the trn%tee% have ele¥tl￿ IÉ) prcrarL thL Iinanlial %talLmLnis In dLLcirdJncL' lllth I'niled kin£dc?ni lienerall! ALLeNed Accounting PrddiL&' IlJnilcd Kingdom Accouniing %tsndards and aprlicablc laii'i. UndLf LompEin% ltii%" tht triisl&S musi not appA)i"e the linanLitiI skntemenis wilts5 ¢k'% dre s(Ili5fied that ihLi gil'e a LDJC and tair iicii ol. Ihe stale ol- ailairs i)r the chariublc ci)mron! and ill. Ihl inc(vning rLx)uThc% and appli￿11(1￿ of Te%ources. including the in¢i)me and eNpenditUTe. of the charitable ci)mpani for thai ￿nn(l In prLTJaring ihvse finanLÈuI 5tstL'mcnt& thc Irustees dre required t sclcct ￿ullab]e accnuntinE D)lirii% and thi'n Jppli IhLml LOnSl%tetttl%': i)bserKe the metFK)ds and priniiples in the C-Ikiriiie5 SORP: mdkejudgementS Lind esiimaiL% Ihai are re&%iinable and pnE&nL siaie 14'hdher applicablL accouniing stan(knTd5' Iwi¢ ixx'n folli)14td. Subje￿ li) ani. material thsx]rture% di*lo*d an e.xplained in IhL tinancial &atetnL'n￿. PILP(ue the financial 5UtLrynen15 on the going L4)ncern basis unless IL 15 lnappnTr￿i￿t ￿ pre5uine ihai ihc charitable LL)mpank Iiill ci)niinue in busincs5. The tru51ees are reswnsible for keepin& pn)per ￿CoUn1]ng records iithich disrlos¢ iiith r&tson2ble aceurac). at anj lime ihe rinanLi81 FK)silioti ol. thL' charIiable compani- and lo LTJbl¢ them in ensure thai the financial sthiemcnis compl> i¥ith ihe C-omrllnies .4it 21)06. 1.hei arc al&i rLS￿)￿S1bI¢ for ￿lLeuardIn0 Ihc aSSCLS of the Llklrithle i(ItRPdn! anLI htn¢L li)r tJk'in8 re￿)nable steps for Ih¢ pr¢i¢niiun ￿'tell1l)n ol-IrJuJ c)Iher itreRularilici. In so far a5 thc trust¢e$ ai*aTe'. thLfc 15 no r¢l¢N'aDt audit infom)aiioTh of %ihich the chatitsbli. Ivtntxm%'$ audi¢ors arc unai4"are: and thL' trusiecs hai'e tsk.en till SILVS thai ihei iiughi tc? h#i"e tttkL￿ w make ihemselie5 alvar¢ of an). Tel￿"#ni audii infiirrnaLii)n to establish lha¢ the auditUTS arc a%iare ot'Lhat infonnation. AUDITORS The audilcTrrs. Ch%riol H(x)se l.imiied. iiill ￿ prO[￿sed tor r¢-3p￿)IniMenl * IhL lorthcoming Annual (icncral Me(Xing. RcFK)rt nf t n................................... trusie irntin£ a straiegic rewrL apprviL'd bi or￿y ol-the Eoard L)rtru51e¢5. 35 ihe Lompan) directs)rs. . and siqn¢d on the Ixmrd's bL'haIl'￿.. $bJDEdbY-. 785?BF￿D Ms k Poole- Trustee Pag¢ 8 t)owsvJn EnVe￿￿e ID.. ADfODD14.DF￿414A-899￿928JDAFBESB6 RFPORT OF'fiiE INDEPE￿DFNT.41"DIToRs TO TIIE.IIEMBERSOF INSTITLITE FOR IP+lPLOI'IIENT STLIDIES Opinion We have audiied the fitwi¢ial stslanertts of Inmilutc fly ETnplo!'meni Studies the 'charithble comrAns"'I for the vear end 31 March •025 iihiLh Lu)mprise lh¢ StalLmnL￿E ul- FinanLial .QLtiiilie5. Ihe ￿￿￿Le She¢t. the Cash Floii, S￿￿[nent and not¢5 10 thc tinancial staicmeni.%. inLluding ￿ sUtntnaTh" ol'5ignificJni ry>licies.'I"he tinancial rcwfting Irameiiork that has ￿Ln applied in iheir prL'tk%ration is aFylicablL laii" and Linited Kingd.)m Aecounling ￿andardS IUni¢ed Kingdom Generally Accepted Accountin8 Pr&tittl. In uur vpinion thc financial siaLLmLnts-. 8iie a tru¢ and fair i'lL'l4' Ot- thL SthLe of charitsbl< Lxyntmm's affair4 as at J l March ?025 and of ils. ina)tning rc￿UrCtiS and applica¢i(?n ot-rLx)UTces. includino ILS inctsme and ¢i￿ndItu￿. lor the i'¢ar then cnikd= ha*c Eeen pr(VLrlk pr¢par¢d in accordancc il'ith L'niLcd Kingdom fjcncrall)" Accepted Accounling Praaice: and hd%'e pttpar¢d in aLcordantt ii'ith the rL'4uir¢YTrLDts of thc Com[￿leS Aci ?1￿. B#si5 for opinion We conduaed our tiudit in acrLirdancL Il'jth Intemaiiotul ￿L￿(la￿t￿ on Audilin ) ILK) IISAS IliK)l . ¢tsn5ider i%"heth¢r the other inlormaiion is tnaicriall!. in¢x)n5iMent iiiih the finanknid ststemenis UT vur knoiilLdgL' obtaincd in thc audit or othLr%Tr'iK aP￿arS lo materiall) missthied. Ir ii"L ideniÈfi" such 1naiL¥ial inconsistencies or apptrenl material miss￿leM¢￿t& ii'c arL' rcquired io dfflcmiinL Ii"h¢ther this ¥i1¢s rise io a maieial mis%LatcThL￿t in thc financial Slai¢m¢nis th¢m5Llies. If. bascd on the ii'ork i%e haic perfvrnied. ctsnLlud¢ th￿ ihiW IS a M￿¢riaL Tllis5tatrment of this o¢her inf(1￿atiOn. lie ￿ required i(1 r¢w>rt tha¢ f*t. ￿'e Iwi"c nrthing 10 IErK)rt in ii)Js Opinions on other matter5 prescribEd by the Comp*nies Act 2(M)6 In ciur opiniun. b&4ed un ihL i%"c)rk" undcrtak-Ln in thc Loufsc iil'ihL audit". thc intom)411i(?n Bl￿'¢n in ihe Rew)rt uf the Trusteth foT ¢h¢ linaneiknl l.ear for i%"hich the financial stsiemertts are pre￿red is Lun5tsient wilh the financial ￿￿1¢MC￿ls.' Jnd the RqNiri ol"Ihe TrusteL'S iren prepa￿d in ii.ith applicable livl requirements. Pa8¢ 9 rKusbn En¥eknpe ID". AD10DD14-DFCH14A-899&92830AF8E586 REPORT F THE IINDEPEP4DENT 'DITORS TO THF. )ITr-.IIBF.RSOF I￿ST[1.[1TE TrOR E.￿lPL01'.l1ElT STI DIES MAtt£r¥ whith we xre required to report bv eicepiiott In the li¥tht vfthl knoilli￿Oc and uttdL'r.%tandin£ i)f Ihe chariiabli, COT￿￿￿% and its eni itt)nmelll obtained in Ihe ofthe audit. II'L hill"e nvl iJenlifie(I maiL'rial missthiemenL% in the RcrKJrt of the Tru5tirs. 'e hai ¢ nothing to rerK)rt in rl..%￿li of the lolloiiing matters the C'ornF&inies Aci ?(K)6 tyquires us Io Teport to i'ou if. adLNiiiaie acc(>tsnting haie Frt'n kerA or teLum5 *tequale f(K our audii hai'e niii b¥en receii'ed from branLhes noi IlSllLd hi. u%.- i)r thL' linancial siaiLmLnts tirL' niil in a2rccnieni ii'iih Ihi acctsunting rwnTd5 athj reiums.. or Lertain di5¢10sur¢s 1)l-Irusi¢Ls' remunertiiiun SPLtified bi lJi4" ￿. noi ma(Ee= or 'c haNe noi reLLxNed JI the ¥nfornwtion and Lxplanaiions 14t rL'quire for ouraudiL Responsibtlltles oftru5tets A5 cNplaincd mi)rL lull! In IhL Si<LtnLnt vf Trustees, Respin.%ihiliiiek ihe IruslLXS JtL' dlsu ihe JirLX￿rs uf the charithblL LN)mpJnN fi)r thL Pu￿Sc5 Ot compani laii"l arL' rcsrA)nsible fi)r the pr¢paration ol'ihL lsnanLial ￿tate[nents and lor ing satisfied ihal Ihel ¥T ti'e a itwe and fa. ir KiL'¥i. and fL)r SULh inlLrrMI Lunirol as Lhc irnstees dderminc 15 nccessan. to cnablc ihe prep￿IrAtion ul- li￿n¢]01_￿talU￿¢nl￿ thai Lir¢ Iree Irom Materi￿ 1n1ssts￿Thetti. iihetheT du¥ l(} Irdud Lir ei'ror. In preptsrin￿ the financial stat¢mLnTS. Ihc rrustec5 arc rcspon5ible for assessing ihc chaTitable LIITllPilnl 5 3biliD' to continue a5 J gi)ing Ll)nLertL di.Rcl()sin4. as JppliL7hle. [ndIle￿ relJieth ai the financial ￿temen1 l¢i"el an(1 al assertion leiel. WL considered these risks in Ihc liEhi of I￿L0u5 faitors inLludinLi the lei'el ol-c4)mple.Kii!'. subjLYiii ill. unLeruinli'. Jx)ieniial manaoLineni bias. Iraud. mateiiJlili and ani other r¢leiwii laaoTh. o)nsidered the extent lo iihich IhcsL' li¥)uld hai'e a matcrial impaLt lin the tinaniial ststemLnis and destgnLd 0￿r audi¢ iiDrk" accoTdingl!. In identif)'ing and thbessing riiks ofmaicrial mi55ts1¢menl in reSFeLi ofirreoularitie& includin8 frdud and non-C(¥nplian li iih laiis and regulation& our Pr￿edu￿5 inr5udd ihe follth%in8.' Wc obtiine(13n under%thnding ot-lhe legal and r¢!uldtoTh" tr￿m￿l￿tt. thai ihe charii!. O￿T￿¢S in. f()LU5ing on those laivs and regul3lii)ns that had J mdiLYial tfteli on lh¢ tinancial rAalefftents 4)r ihai had a fundamenial effc¥i on thc 0￿ratiOnS of the charity. tTOtn i)UT PTt)fcssionol and secior ¢I￿lenLY. We PErlomed anal%tical Pr￿ed￿r¢S io iskniifi" ani unusu81 or uncxrtttcd relationships thai rna). indiLaie Hsks of M￿en￿l missthiernent fraud. aThl rn ieiied 5igniril￿￿1￿r unu%￿1 iransactions LO idL'nuf) their underl)'ing upp)rtinsi ratioNle Paoe 10 Envekn￿ ID.. AD100D14-DFC4414IA4995-92830AF8E586 REPOR'f OF"fHE INDEPENDENT.41'DITORSTOTHE IIEIIBERSOF INSTITUTE FOR E￿IPLo￿,￿1E)T STLDIES We in5￿cled the min￿eS ofmÉ*tings ofilKKse ¢hJrged i%ith goi"eTnancL and rnade direct ewuirics of managcment and thr board vf irust¢f5 concerning the charii)'s rdicies and prnxedures J￿L￿118 10.. Identilj'ing. evaluatiThg. aThl compliing i%ith laii's and ￿SU]￿tiOns Jnd M'hdher thcy iNere awarc of anN' Jll5tance5 01-non-compliance: Detcrting and rcsponding io ihc risks of fraud and MthethcrtkJ' kni'e knowled8e of an!. acl1￿. stsspected. or alleged Iraud: The internal contro15establishEd ￿ mitigate risks Tel*ed ￿ r￿d￿j (br non-Cl)mpliatKe ii.ith laiv5 and regulations. In addr¢55ing the risk of fraud thn)ugh TnanagLThCm oi'erridc of ￿nts￿l& t￿l¢d the appropriaieness of joumal rntrie and oiher adjusiments. a55e&scd i4'hLther the jlldg¢menlS tnadL" in rnak'ing accou11ing esiiTnatL'5 ilere indieatiic oca wt¢ntial bias and iested signifi&￿1 tron￿Cli0￿5 that ivcre unusual orth05e ihe n(wmal c￿]￿e ofbusine55. W¢ also discussed and rEvieM'cd ihe charii)" s business mo(kl and fotM*d tAaniiin8 lo assess goin! concem cornmunicaied appliLttbl¢ laiis and regUlatith￿ ihroughwi audit [￿M and remained alert i() an¥ irtdicatlOn5 of non-Lompliance throughoui ihc duilil. revIe￿L¥l ihc financial 4aiment di￿10s￿r£S and iest¢d these to supp)ning d()tumenialion to assess complsdrK¢ 'ith appliLable 13IIs and rek?ulthivns. C arried oui subs"16niii'e tL'sLine on InLL)me aThd el￿ndit￿re Re"pcrtomied reconcilialions of¢ontrol acc(MJni& and ￿￿lulaLLd iithis such as ¢￿precIati￿n Because of thc inhererti limitaiions of an dudiL ihere is a risk ihaL Il"c i¥'ill noi all iuegulariLie& including those leading lo a maleridl mi5Statemeni in the fin￿¢la1 s￿Ily￿ents or t￿n-compli2￿lc Ii'ith rcgulaiion. Thi5 risk inif¢¢lSes thc motL' Ihjt compliatL¢ iyith a laii or re4ulaiii)n 15 remuitd from the ekcnts and tr3nwtion5 rcflected in ihc linan¢ial 51atcmLnls. as li'e ii'ill be le￿5 likel!" 10 Eteome aiiBre ot instsn¢-s of non-complianc¢.'I'he risk is 2151) greater ￿gOTding irrcoulJritics nccurring due to fraud rai￿[ ihan error. ￿ frauc i￿1.0]￿ cs inlentional conccalrnLnl. forgery, collusi(TrtL l)mi&¥ion tsr misrepresentriior) A turther dLxription of our rC5￿￿Slbl1itic5 for audit ofthe linancial 5ts1cmLllts is I[￿ed on the Financia] Retx>rting CounLiI'y %iebssiL al ￿lI￿V.1rc.0r@.u￿'dUdIt0r%WS[x)n5i6IllIies. Thi5 &5criwion lonns part of our Report ofthe Indepcndcnt Audiiors. Use of our report -I'his rLPi)rt is made ￿)1¢1} tv the Lhariiable o)Itt￿n￿'S mLYn1￿￿ &5 a tM)di": in aceor(knnce ilith Chapler 3 of Part 16 of the co[n￿nic$ .4cl 2(Kh5. audit iii)rk. has tr￿en un(krtakcn s() that iir mighi s1￿C io ihe charitable coinFdllv's members Ih05L mtler5 ile ￿. rn'quired 10 %thtc ￿ (hLTh ITr an audiior%' reEK)rt dnd tIlT no ijther purwkse. To thc fullcst Cxtent ￿MIllIed b}. lail. M'e do nol aciLyi VT dSSume rL'.%tK)ll5ibiliti io an!"onc oth¢r than ihe Lhar.'table companj and the charitable wT[l￿ny'S rnembers as ? ￿￿th.. for nur audtt il'ork.. Ii)r ihis I¥￿rL vr for th¢ opinions iir h,.Il'e fotmed. (JIT Pthtridgc 18cniTrr Siai Audiwr) fi)r anLI on behalf ul-Charii)t I Iou5e I.imited (.'hartL'fL'd A¢l(￿nI￿lS ar¥J Stat￿Or5. Auditor 44 (jTiind l)ar&J¢ Briuhtsin J3N2 WA Dale.. Pagell r>)wwgn Enve￿pe ID". ADIODD14.DFC4414A499>92830AF8E586 . TITL.TE FOR Ef*lPLOI'IIF.I STA TLINIEIYT OF FIYANC.-IAL Acfii-ITIES INC'ORPOR4TING.4N IIC'OIIF. .IND EXPF.NDITI'RL.4CC.OI"liT FOR I'llb" I'EAR ENDED 31 .11,IRCH 2024 1025 Total funds L'nrcmricied runJs R¢siTiCted funds Toial funds Noies IIlCOlI IE AliD F.N'DOII'IIEYTS FROII Charitable acrivities PrOlL￿ls C'i)rrK)rJte memhership PubliLaiiorts ).1gU.YY4 79?.j68 J.98J. j6? 63.¥?4 5i6 3.861.755 5i6 424 Invcsimcnt income Other income 27.737 21.145 2.465 Total 3.?93.391 79?. j68 4.08i.959 4.(K>4.762 EIPLIDETI'.RE O ChAritabl¢ activi¢ie5 ?.48J.9j6 708.46) 863.164 47.1?0 708.465 3 ?19.7¥2 ?()1.7i6 MJnagL'mLnt & Adminislrntion Total 3.19?4? 863.166 4.Uii.i8i 3.921.538 YET IINCOIIEIIEIPENDITL REI IIM).970 146.480} 171).i961 4().4110 30.374 TraTLsfer5 b¢tween funds 15 Net moi'tment in funds 54.490 30.374 83.224 RECONCILIATION OF FLINDS I'ciial lunds brought tOnN2rd 1.660.i08 I110.9￿) 1.549.344 1.466.120 TOTAL FUNDS C.4RRI£D TrORII'ARD -714.798 I lJi.080} 1.579.718 l.i49.344 The noies fomi ofihese rtnancial 5tatcrn¢nts Ptioe l? L￿￿6￿3n Envek)pe ID." A010DDII-DFC44T4A4995-92830AF8E586 INSTITIITE FOR ENIPLOI'NIENT STLDIES RECISTERED N'L.IIBER= Ib0931.517 ALANC.F. SHEET 31 f¥lARCII 2023 2025 2024 As resthied Unrestricted nds Restric￿d funds Tothl funds funds Noies FINEDASSETS Tangibl¢ )5SCts 10 16.993 16.993 22.090 CURREYT ASSETS Debtors Cash at bank and in hand 1 ?46.471 l.11?.680 1 ?46.471 1.112.680 -35¥.535 .i12.631 2.3i9.lil ?.359.151 2.871.166 CREDITORS Amount% lallin¥ duc M'ithin one i'edr 1661.346) Ili5.0801 1796.426) I l.J32.3(X)I NET CI1IiRENT ASSETSIILIABILITIESI 1.697.80i I l i5.0801 1.562.725 1.538.¥66 TOTAL ASSET5 LESS CLIRRENT LIABILITIES 1.714.798 {li5.0801 l.i79.7111 1,560.956 PROVISIOPIS FOR LIABILITIES 14 NET.4SSETS 1.714_798 i lii.O¥OI l.i79.718 l.i49.J44 15 Unre51fiLILd lunds.. (jCllLral liind Rc5tricied fund5 1.714.798 1.660.308 TOTAI. FIIYI DS 1.579.718 l.i49.344 11 De￿mber 2025 The fI￿ALl￿} statLm¥nt5 MLYe appr()i"ed ￿. Board of TnJste¢s and authorixr(I for issue on ............................................. and werc 5iBned on its irhall-bi= Swjntdby". Po&L K Poole - Trust¢e The rkxes r(wm tort of￿￿5¢ flnancial 5tst¢ments Pagc 13 Dr￿u￿g￿ Envelope ID". AD100014-DFC4414A499&92830AF8E586 INSTITL',TE F OI'IIEYt STIIDIF.S .tI.SH FLOII. STATENIENT FOR THE I'EAR ENDED31 1l1.4RC.H 202 ?0?5 2024 Not¢5 Cash nows from optrxting activitie5 C'ash gcncrateJ Irotn ￿￿￿ti1)n.% 14i0.488 272.6821 Nel cash used in operatin8 aCllI ities 1430.4881 ?7?.68?1 Cash flows from xnl'esting acflvlties PurLhas¢ of tangible fi.¥eif asse15 IniLfLSt rLLeii-ed 15.0.151 ?7.7j7 Nct cash PTth'id¢d inieMing ociii iues 30.ii7 6.4?4 Change in cash and rash cquivalEnt5 in the reportin% period C*5h ajjd cash cquii'alellts at the beglthtting of the reporting period li99.9511 1266.?581 l.i12.631 1.778.889 C#5h and ¢2$h e4uivglents at the end of the reporting ptriod 1.11?680 .512.631 1The note5 fTrmi of-1￿ financial stateTHenL Pag¢ 14 Chxu*gn EThVek)￿ ID. AD10Do1￿0FcM14A-8g9&9283oAF8E58s INSTITI,'TE bOR E￿IPLo%.￿lE￿r STLDIES NOTES TO THE ASH FLOlI' gr,ITEIllLliT FOR TIIE I'EAR ENDED 31 %IARCH 2025 RECOYCILIATION OF NET INCOhlE TO NETCASH FLO1* FROII OPERATIPIG ACTII'ITIES 025 2024 Net income for the reporting Peri￿ {¥$ per the St*¢tmtpt of Finan¢i¥l AttI*￿tIeS) Adj¥%imet)t$ for- l)cpreciatii)n ehaTgcs Int¢r¢5t rLcLiILxi Ivi"etnent ill 15iLin for liabiliiies I)eerLV5eJlincrcascl in dehors Decrease in tredii() 30.374 83,224 10.132 135.57?) 10.900 (27.7.17) 1.612 12W.8571 149.X?41 li3i.8741 Net C05h u5¢d in operations 14iO.4881 127?.682) ANALI'SIS OF CHANGES ITr4 NET FLYDS Ai 114Q4 Cash flow. At 3113125 Net cash Cash at bank and in hand -jl?.6jl 1399.951) 1,112.680 .i12.631 399.9511 ].11?.680 Tot*1 -jl?6Jl 1399.9511 The ￿￿£5 forni financial stawThfnts Page15 Docusign Envebpe ID.. ￿loDo14-DFcHl4A-899&g283OAF8E58￿ INSTITI.'TE FOR E￿[PL T ST(IDIE5 OTES TO THfr, FIN'ANCI.4I. STATE￿1￿￿Ts FOR TIIE I'E.4R EYDED JI %IARC-11202 JICCOLl%I 'TIN'G POLICIES BAsis of prepxring the stalernents -h¢ linJnLial 51aiLmLni.& i)i- Ihl iharitsblL Ll)mp)n!. iihich is a public kneftL Llllill. Under 111? hai e been prLp￿ed irt aLLurdaniL' Iiiih lh¢ ChJriiie5 SURP IFRS 10?1',ILL￿uniln￿ and RLFKining M. C-hariiic%'. Staicmcni of IlciiiminenÉkLI PrdLIILL JrpliLdblL Lhariiie5 prepating iheir aiiounis in decor￿ALe ii.ith t￿. Fin4llLldl R¢pv)rting landard applicablc in IhL I',k and RLpublTL Ot" Iftland {FIi% 10?> lelTeciiie l Januan ?0191'. FinanLial RepL)rting Sianlknrd 10? 'ThL' FindnLidl RvDirting SianiL¥rd applicable in Ihe LIK and Rcpuhlic of Irel￿￿. and thc Lotnpanie5 ALI ?006. The 12nancial SEatL'mLnES hJie prepJred unJer hiS￿?rIcal Lvsl LN>niention. The Lhariti tneth5 ihtr (kfjniiiun ora public Ix'nefii LnLiii as dL'fined bi FRSIO) -I'hc fina￿la1 siaiemertts arc prLVIrL￿ in iiljich is the ￿n¢t10￿al currrnci" of ihc entiij and are rounded io Ihe nea￿st p)und. Ai ihc timc ol- apwo%'in8 ihc tirtarKial ￿￿eMen1& ihe iru51ecs haic a rca51)nable c.￿￿Ll811i)n ihat the chariti has adequatc re￿UrCeS io coniinue in eii5tencc for ihe tore5eeable futu￿. and on thai basis thc eharit). 15 C￿￿57￿l.rVlf Iv gyoin¥i Lvncem. Income Inv(ImL' 15 1"¢¢XILinised iihl'n IhL' ib￿1% has LntlLILmLni io IhL fundk an! ￿r[0￿Mance eondiiions attachcd lo the inLumL' haiL' been mei. li is proikibil ihat the iThiume iiill be reieii.ed and that the amount measured reliablv. Project income. ii'hich T¢p￿￿nLts Jmi)uns reLeiiablL' bi thL compani In ihe ordinari. a)urse of operaiiuns lor erKiLes proi ided. is dLLX)uni¢d liir in ihe lear iu iihich IE rLIatL￿. ..Ini iTrLivnc lh￿ relatL% L() iltsrk ti) k. cairied out in future Ferind% is therCtO￿ (krem￿. ConirdCL arc full!" rccogni5cd in tk ￿Y10d in i¥hiLh thL*' are forcwn. For iran￿￿11￿n5 ii'hLre the In5titule LS dmpani" ti) ￿ used OTh a programtne of li"0￿ agrrLxl ii"¥th paniLiiwnis. Thi5 incom¢ is accounted lor in the ￿Ti￿d io M"hi¢h li ￿latc3 in the same i¥?) as Ixher incomc r¢￿1V¢￿ in the ordinarn course ot.0￿￿tIonS for ice5 proi"ideil. Conlerenccs and evenL urplusc5 or defici¢S on ¢onferenees and then¢S are aea)unied for in the i.ear in ii"hiLh ihe) arr held. Expendilurt Lxpendilurc. ii.hirh is charyed on the acLTuals is 211oGlled ￿ll"cen.. el￿ndItUTe in¢uTred direLtl% io the fuifiltnenl ol-lht C'haril%'S L)bjLriii'es including that 1￿curred in pt()iidin8 and mainiaining prcmiscs and cquipneffl rcquircd ￿ ram out Charii%'s i4OTk-: - CiF￿nd11urc iniurred itt the management and a(Imtnistraiion ol'ik CThariiN= and goiemaniy Li15ts_ Dirert ehaTitabl¢ &i￿ndIT￿re on re￿ryrCh wmmis5io]￿d siudies eomprisvtr t%￿dilure aliTibu12ble dirL'Ctl% to Ihvse aLlii itiLs. 1¥4e 16 c()ntinu¢d... DoCu￿g￿ Enweknpe ID.. ADloDD1￿FCml4A-tsg9￿283ONF8E586 INSTITUTE FOR E￿IPLO}.￿l￿NT STI-:DIES NOTES T()'I'HE F INANI C'IAL S-I'A-I'kNI LINTS- Continued FOR TIIE YEAR EryDED 31 IllARCII 2025 ACCOUTriTIliG POLICIES- tontlnutd Expenditure Depreciation and renl pavable hal'e Ixxn apwrtion(xl Imwjon thE arca of the riKbrnS used for ￿ Institute'5 aetii'ities and stail.wsts art. alluLaled accordin4 ts1 th¢ emplo!¢¢s' Iv￿. All otk.r Costs are app)nioned oth k consisient appropriate tth the IDStitutc's cIrC￿M￿an¢Cs. Tangibk fiieil assets ReLO¥tnilii)n [neasu￿￿Cnt FixLxl assets are me&%wed * c05t accumulated &preciatiot) anil ttnN" aLrurnulthd itnpairnicni1055CS. Asscts iviÈh a in excc55 of £51X) inkndcd io t¢ of ongoing use are capitali5ed as fixed &ssets. l)eprL*iaiiun is Calculated io iiTite ihe Ix)s1 of fumiiure. fiiting4 and e4UiPtnent bi. equal annual instslments OV￿ IhLir c1￿Cted u￿rUI li&es. Thtte tre 3 l.ears for compu*r hardi¥-ate. 50ftii7re and otTicc cquipment: 5 I'eaTS lor c)ffiLe fumiture and the iel¢phone sI"srcm.' and IQ !'eiU5 for oflELT fii-oui t4)￿% or o&er ihc period of LhL ILa&e erc this is shorter. Taxation 'I'he C'harit%" 15 CC?n5id¢r¢d io pass th¢ ￿sts sei oui in Parn4rdph I S(hedule 6 Finance Aci ?QIO therefo￿ it Ml￿'t￿ Ihc detiniiiort i)l- a charimble LVtn¥Mni for L',K C'orwrdiivn fi"idLd in noi¢ 17. INI'ESTMI ENT INCX)ML 20?4 Unr¢siriiknl ResiriLied Toidl f)ewsit accounT interest IYCO￿lE FROII CHARIT.4BLE ACTII'ITIES 20?5 2a24 Aclil it) ljmj¢Lts Cor￿)rate yncmbcr5hip PubliLaiions Projects CorFKiraiL m¢M￿rShip Publicaiion5 3.9X_l. )(?? 3.861.755 93.701 4.(Tr47.9?? 3 C) j5.88n Paoe 18 ¢()nitnuLXI... Q*cLI￿gn Envew ID.. AD10DD14OFCU14A499&92830AF8E586 Ih"STJTITTE FOR Er*]PLOY￿lEYT STL'DIES NOT&-S TO TIIE FINANCIAL STATE%IENTS- FOR THE I'EAR ENDED31 MARCH 1025 CHARITABLE,IcfiviTIES COSTS Sup]xJrt costs Isee notr51 C'05ts Tota15 l?rojcctS Man(Igerncnt & A¢knini5trntion 3.147.1?0 3.347.1ty0 708.465 708.465 J.147.120 708.46) 4.U55.585 SLIPPORT COSTS Management Managemenl & Aikninisir4lion 708.4()5 NET INCOP*lE/ILXPEliDITURE) Net i￿)mY/(£￿￿￿￿li￿rel is after ch￿21n9'(Credi[ingI= 2024 DeprLYiatino- oiined as￿￿5 Auditors, tcmuncrativn - Audii 5Lrn'i¢eS Auditors. rLmuneTdtion- non audit ￿TriC¢S IU.132 10.911 6.500 4.8(>D TRIISTEES. RF￿ILNFK4T[0N AND BEYEFITS During tht or￿. trust￿. Emma Si¢iiarL paid £l.(MM) for subtsiThtrdd iiDrk fvr profLssional services 120?4: £3.0001. Tru5tees' expell5es During thc >'ear orK tTus¢ee reimbursed £lJl for tra%'el exr*n5ts 12024.. No trustees w¢r¢ reiTnbursed for elPLTdilurcl. Pagc 19 continued... Docu￿n Enwbpe ID.. ADIODD14-DFC4414A.899>9283W8E586 INSTITUTE FOR EIIPI.OTr'IIENT STI'DIES OTES TOTHE FIISANCIAL STplTEIIENTS-¢olltillued FOR THE I'EAR ENDF'D31 IIARCII 202 STAFF COSTS 2025 W28cs and Salarics ocial SccuriTh" c0515 Pension costs ?.278.008 •34.951 4)7.002 ? 098.984 I S6.6?6 2.969.1)6 ?.()J6.3?4 The ai"erage mDnthli rtUm￿r of emploi"ec5 during the i'LYr a5 follo%i"s'. ?()?5 2024 Tothl Thc nutnbcrot etnplui"eL% lilK)￿ emplwee ￿nefits ILNLludino cmploier ￿￿siOn costs) e1cL￿d￿l £60.IX)O Iiys.. 21)? j £(711.IKII 1711.(XXI £711.(Y)1- £80.Ixx> £80.001- £IJ).(xxI £QO.IK)I - £iIKI.(KX) Pensiun conirilyjiions ol- £54.821 1?0?4.. £61.6361 iiere m&Je b%" IIK compaThN" dyrin8 thL ).￿r on irhalf of highcr paid Lmpli)iees. During the l'trar 4 1?O?4= 41 Mgher paid stsfi- iiere accruino knettts under tk delined ￿n¢firS s¢h¢me. and no emplc))ees i?0?4.- n()ncl iiere accruing Ix'neliis unthr Ihc Lry)tnpam'.% d¢fined ci)nthbution schemcs. Management PersOnr￿1. are considered io IK the and the leadcrship teatn. rctii&iJ rL'murterdtion lincluding emploier5 nationol iosllrJnce ar¥J ￿1510￿ cvntriiAJiionsl amourning ts7 £489.277 1*1}?4.. £498.1641. Page 20 continue(l... Do[￿s¥Jn Enveknpe ID.. AD10DD14-DFC4414A499&92830AF8E586 INSTITUTE FOR EhlPLOYN1E,YT STiiDIES TES TO THF FIP4ANCI.4L STATEfvIEP*TS- ¢oniinued FOR THE YEAR ENDED31 f*lARCII 202 COMPARATJN'ES FOR THE STATE￿IEYToF FIN.4liCIAL ACTII'ITIES-AS RESTATED Ijnrcs￿L0￿d R£ori¢ied funds funds Totsl INCOIME A￿D EINDOII'TrIEliTS FROhl Charitable xttivities Projccts CorrK)raie memtrRrship Publications .954.831 93.701 4?4 (kn.923 3.861.755 93.701 424 lrtiestsn¢ni income C)IhLr inLI)me 27.73) 27.737 21.145 TotAI ¢XK).92i 4.004.762 EXPENDITIIRE OTra Ch*rit*ble aetivitie5 ProjeLL .lanag¢ment & Athninislration .015.391 3.219.782 7111.756 701.7)6 Tot*1 .015.391 3.9?1.538 ,'r 1Tr4COMEIIEXPEYI DIT(IREI Transfers betwt¢n funds 191.690 11.544 1108.466) 11.5441 83.224 P4et movement in fund5 ?03 ?j4 {120:010) 83.224 RECONI CILIATIOY OF FliP4DS .1 i)ul lund& brought iorwdrd -457.074 9.046 1.466.120 TOTAL FUNDS CARRIED FORWARD .660J08 110.9641 1.549.J44 Page21 ontinued... D￿sIgn Envelope ID.. A010DD14_DFW14A-899&92830AF8E586 INSTITLITE FOR E.IIP OI')IENT S'ri".DIES OTES TO THE Tr IN.4NI CIAI. STATEIIE%TS- rontinued FOR THE I'FAR P'NDED 31 11.4RI'H 202* io. TANGIBLE FIIED.4SSETS rixtUTC and At l .Qpril ?11?4 A(l(liiion5 176.01 i.035 Al 31 fvlarch 10?5 DEPRECI.4TIO. Ai l .￿Pri] ?11?4 Charge for ie 153.976 10.132 At 31 Klarch 20?5 164.108 NET BOOK VALUE Al 31 NlaiLh ?02) 16.993 Ai 31 Wldrch ?0?4 2?.090 DLB'foRS- A*1 101,"NTS FALLIIG DI'E II'ITHIY OYE I'EAR ?025 -I'rade de￿or5 l?rcpa!mcnt5 a¢ttued income 666.1 ?5 5¥0.346 6?7.6?7 7.10.9118 1 ?46.471 .i5¥.5i) Pag¢ , eonLinued... DotyJsvJn Envek)pe ID.. AD10DD14DFC4414A499>92830AF8ES86 IIISTITUTE FOR EIIPLOI'II IEYL r STLDIES NOTES TO TIIE FIli.4NCIAL STATE￿IENTs- continued FOR THE YEAR ENDED31111.4RCII 2025 12. CREDITORS: AMOLIliTS FALL1Tr4G DUE W'ITHlTr4 OliE I"EAR 2025 20?4 Trade ereditors 79.585 84.084 6.484 7.256 90.70i 88.314 174.444 89.619 3.979 893,738 117,162 'A"r (hhLr tTedil(11S PaN'mcnt% rttei%'ed in ad%'anL ALcTUrati 1'h¢ Sution I'ru51 Naiional Instituie of Feonornic & knal Rc5carch Oaisb) Foundaiion Nation31 Institu1¢ tor I lealth Re￿a[ch Joseph RoiintrL'L F()und&iion L￿rnIng & Wotk Inoitute 164.(>441 14.1791 110.4891 i?R.i(rf) 41.6n6 4.179 10.490 {34.447 7.280 14.419) 16)81 144.7441 4.419 6)8 15.y5• 113.4981 19?7 {4.08?1 lJ3.5J2) 12.027) 1?.574 2.574 13.750) 4301 (3041 170.5(KIl 4().480 TO'I'AL FLNDS 1.549J44 iO.i74 1.579.718 Net moi'emeni in tijnds. Includ￿ in the atK)ie are &s folloiis.. InLC)Enin2 reSLwries Re￿UrCeS MoNL'tn¢nl in I'und Llnrestri¢ted fund5 tienLral fun 3.293.391 13.191.421 I￿,910 Rt5trirted funds Education l-.ndiiiimeni fund abrdn FinanLial Trairness-frust Youih l.utLEre lounda¢ion l.td Pyalionul Instiiuie ot EcorKTrmi¢ &. S{￿l￿1 R¢s¢ar¥h Cial%bN' 1.oUnd￿l0 Joseph Ri)i%n1￿. Foun(L'ili()n L*trnin¢ &. M'ork Instilule 80.9?? 55.i54 11119.082 (47.8641 1368.5631 I?8.1(￿) 10.490 134.4471 19i.9611 lJ.¥951 li4.9iil 184.8441 113.4981 19?71 13.7501 i041 ?.968 184.i411 79?.568 1863.1621 170.5961 TOTAL FUTr4DS 4.U8i.9i9 14.055.583) 30.)74 Paoe ?4 ¢oniinued... [bCUÈ￿n En¥ekn￿ ID.. AD100D14-DFCM14A-8995-92830AF8E586 INSTITUTE FOR E￿IPLO),￿lE￿ STLDIES 40TFS TO TIIE FINANCI.4L STATE.IIEYTS- Continued FOR THE I'EAR E%4DED31 NIARCH 2025 15. I¥IOVEMENT Ipi FLIYI DS- ¢ontiDued Comparativu for movement in As Restattd Net nioi'ement in tunds TraThsfeJs Al 3113ll4 Ai 114123 funds [Inrestricted fknthd5 CienerJl fund 1.457.074 191.69) 11.544 1,660.308 Restricted fund5 EduL-aiiun Endoi)meni futKI IILdlih Foundaiion Cen1* for l.itera￿. in Primar%. Fdu¢*ion 11.769 3.426 16? 775} 164.11441 (J.4261 (6661 Thc l)eLpIL ('Lntrc abrdn Finaneial Fairnc55 Trust Yi)uth l.'utur¢ Foundation l.ld 1?.079) 63) 1.5001 14.1791 110.4891 117.5771 (15.18? 6.0?8 (6.0?81 c'aM￿ClI CollatK)rnti The Suiton Trust Natiundl Inrlitute ofEcorK)mÉL &. Soctal Rek'arch GatsL71 Fouttd&i(Tr National InstitUlL Ii)r Health Res¢arch L&uning & WoJ* In￿LI1￿(C 4aOI 173 4.419 C)5 487 121 11)7 116.Oi91 {i.1001 (?.j741 1261 Ili.9521 .5741 1126) 9.046 1108.4661 TOTAL FL TriDS I.4(￿).[?0 1.549..744 Page 2) continucd... Doths¥Jn Enveknpe ID.. A0100D1¢DFC4414A499>92830AF8E586 IPISTITL TE F T S"TiIDI ES NOTES TO THE FIN.I,%1.'1.4I. ST.4TEII ENTS- totttithued FOR THE I'E.4R FNI)F.D 31 IlI,IRC'H 202 lo1.E￿IENT I.Y fr LI￿DS- continued Cumkwatii'e net moi'emertl in lu[￿$. illilude(l in the aix)ie are as follthis= Ineomin8 r¥.￿)u[c¢S Resaurcts c.xpcnded Moi'emeni Ilnrt5trict¢d fund5 CiLnLral lun i.097.%i8 12.906.148) 191.690 Resiritted fllnd5 EduLatiun F.ndiiiiment fuThJ 'I'hc Pceple L'enire abrdn Financial fairne%s Tru Youth Fuiure Foundaiion Lid LampbL"II C-L)Iltsburaiion -1 he %u(liin I ru Natii)nal Instiwlc of r.Co[￿l[liC &. S(Kial Rcsearch Cia15b) loundatiiin Naiic)nal Institulc IL)r I Italth Researth LL*rnin¥ & Wvt&. Institu 406.890 34.ii7 57.6): 57.¥.14 74.477 30.804 1469.1711 13) 8)71 168.7761 177().0161 170.1761 i(1.0911 162.2751 11.50UI 173 4.76i ?l.4j6 70.8721 (??. j)61 I IX.7?il 1? 600} 116.0591 12.5741 906.9?4 I l.Q15.i(X)I 1108.4661 TOTAL FI',N4DS 4.D04.76: li.9?1.5381 Gtxnt Fund¢r GtxTht Desc TkL' TaL.s Tm&x. nfitanre rew£eE ard 5(KwI &Ktknir*nt ihrnuBhiliikJ- kd Lyal F(NJTthti)n t(Jn FAirN¢s Tribl I'o1￿h Full￿C.5 L nl iiwITTu55￿ [￿L￿e Pi&x a￿j f¥a$thlli 11 Ir¢sear¥ha￿S Ra￿0(￿¢[(￿dTr￿ (Rcfi ofself-eiDpb¥w*n¢ YThJih Fthwe% F¢A￿aTRI) I. Yuuih Firtwes l.ld fN [".i]&Ne.4in'.he%es Is Yothh Fi#we5 L uathi Iff¢Ll￿￿t￿55 Irialrf'Ty h kw.. a g-TryvMh rrfiwmMkr¢ rof¢f4s kh￿rtnTQL*i￿ Ihre¢ i¢* I￿*￿￿eS rRr iieek" iiKh atsJa¥TililKS SiyrKlrt ¢arN &.1¢kny￿nI m areas kke lfiern¢¥. LarÉuJge. nunkra¢¥. )nd Tly Nat￿￿1 In5we F.%2kn11)nof Athksk"ts kMTWTrt f An RblL Pr0E[anJ￿￿ Iv_i._yI*4}. Workts l￿reri5 &xml Car¢ Catch l-fflicr5alxTrL% IAnEiD£C (L I.-CIL CS5 ci"akniK resLarih vnhiouno etrykn. er5 forenykn..¢TS 10 Nai￿al Irbill￿1¢ fly Htatth4NI Care search Page 16 ntinu¢J.. twvan En%*b)p8 ID.. ND10DD14OFC4414A499&92830AF8E INSTITUTE FOR EMPLOYIIF.PiTSTIIDIES OTES TO THE FINANCIAL STATEIIENTS- ¢oniinued FOR THE YEARENDED31 ￿lAR(H 2025 16. RELATED PARTY DISCLOSI'.RES During thL )"W 5aiu invoice5 of£103.34? 120?4.. £63.7881 ii¢r¢ TJi*d ￿ organi5alions w'ith 4thrttlor5 in comjnon iiith the Charily. Trnn5afflions are l2rri￿ out ai aTTll5 Icnsth and at m8rk£i ralc. 17. LIABILITY OF ￿lE￿lBF.Rs Diiring the }LW I? memitTr I*U*4: 9) hal'c each unthrthk-É)J io Lonknhute an aTnouni not exc¢%din8 £10 in ihc Ci'cnl l-lhc c()M￿nN being 14uund up. 18. PENSION SCHEI¥IES 'rhL In5titutc tArticipa*d in iN"p¢s of ￿nSiOn sckme5 durin8 Lhe lear. I'he lirst *hcmc t}.￿ j5 a stsk-eholdcr deli￿￿ Colltribulion (lireci biyJefiL schemes. The to￿ ￿￿$10￿ cost to thc ¢OTnpany tor thL5 ￿heme for the I"￿¢nded J l March 202) £10.80i12024.. £9.3331. Thc £econd ￿hemL prvl ides h¢n¢fits based on a CarLer.4ierJg¢ Sdl4Th. The cOntri￿tiOn ra*s fr￿ Januar). 2014 arc 14.i/ts (If t￿￿.￿lo￿ab1C salarie$ for tIL' ¢tnplob"¢r and 6.5 for She emplc?Ne¢. 'I'he to￿1 rension Losi fc)r Ihe LOtnp&nv fvr this CarL*'r..lierag¢ 5ihcme for i.￿r en(kYl i l %laich ?O?i Itas £44i.86i (•0?4 £349.3861. The In.s1ituie has i7 12024.471 emplo%'Lts it) Uni%"ersilie5 SU￿r￿nnuatiOn %chem¢g IU551. Hisioricall% iherL' also a final pensionable ￿laTh sehLMe but thi5 closed c￿lIr¢I￿ 3151 MaTch 2016. The mL¥niK'rs Imi'¢ iransferred kn the C'areer A%¢raoe Sc￿Me aFx>ie. ThL In￿llute ￿tiCIpat¢S in Ihe Ilnii'er5ilies Su[rrannu￿i￿ SL'hevnL5 Ifinal %alaTh and career ai'eraBel. are detined EK'nLlit schem¢s 14.hich arL Lonlracled i)Ul i)f ilk. SiatL' SeL-Imd Pension IS?Pl. The &%%ets ()f thc schcrnes arc held in a $L.￿rate Trustee-admsnistercd lund. li is nvl p)&sibl£ io idefflili each in5tiluiion's share of the und¢rl>'ing Is dnd liabiliti¢5 iifilk" SLheme% Jnd hence conLribuiions the 5chanes are a￿Oll￿ted for as il'thL* i￿ere delin¢(I coniribution SLh¢rnes. 'I'he amouni LlkirgL'd io inLome and eXp￿r￿]￿re a(￿￿￿1 ]rprc5cnts ihe wntributions Fya!'ablLTh li) IhL' 5ch¢m¢s in rcspeLi olthe alri￿n11n8 rLriLML 'I"h¢ laiesi iriennid] %"aluaiion E(x)k place as * il %larch ?0?3. calculaTing that a ￿heme SUTplvs of £7.4 billion. This repreYnL￿ gn impn)iemcnt of £?1.5 billic)n us.er the thrcc i'edfs SllJLt Ihe pro'ious ia]uation. 'I'hc Occupationa] Prnsion5 Schcmes IFJnploTreT Detdl Re£￿aLl￿n5 ?fr)5 and the (knipational Pen￿0￿5 8ehL*ne$ IF.Tnplo>'er Debi (Amendmenii RLEulations ?(Mli {thL "I mplu)¢r D¢bL Re8s"l a debi Iknoii"n a4 ll "*rtion 7) dL4A"I UFon an "emploimenr-CCSsatlOll Llix) an cmpli)I"CT cea￿5 10 emplo!. at least ()ttL' PLrson ii.ho 1% adii'c mcmbcr ot. a r¢n.sii)n xlK-tnL' and & lia5l vne other ￿P101.cr ci)niinu¢b io crnplos actile memirr51. A ￿tIc)n 7) dL4)i is i)n the cnsi ol- SL¥IIFillE memkrs, ￿tterIts b) purLhdsing an ￿inu11>, polici from dn insuraniY iompan%" and mai Signifi￿￿1 Page ?7