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2021-12-31-accounts

Page
Reference and Administrative Details ofthe Charity, its Trustees and Advisers 1-2
Chairman's Statement 3-4
Trustees' Report 5-10
Trustees' Responsibilities Statement
Independent Auditor's Report on the Financial Statements 12 - 14
Consolidated Statement of Financial Activities 15
Consolidated Balance Sheet 16
Charity Balance Sheet 17
Consolidated Statement ofCash Flows 18
Notes to the Financial Statements 19-42

Trustees Terry Scuoler CBEMIEx, Chair
Marcel Landau
MIEx (Grad), Vice-Chair
Dominic Broom MIEx, Hon Treasurer
Caroline Gumble
MIEx
Rob Keller FIEx
Prof Sangeeta Khorana
MIEx
Mark Lincoln MIEx, Membership Chair
Maria Malinowska
FIEx (Grad)
Allen Matty MBE MIEx
Stephen
McQuillan
MIEx
Sean Ramsden
MBE MIEx
Nick Clark FIEx (Grad) (Retired 19October 2021)
Peter Ward FIEx{Resigned 8October 2021)
Patron HRH the Duke of Kent, KG
President Lord Green of Hurstpierpoint
Company registered
number 00307186
Charity registered
number		 266395
Registered office Export House
Minerva Business Park
Lynch Wood
Peterborough,
United
Kingdom
Cambridgeshire
PE2 6FT
Key Management Director General - Marco Forgione
Academy
Director - Kevin Shakespeare
Chief Financial
Officer (CFO) -		 Gary Wattley
Independent auditor MHA Maclntyre
Hudson
Peterbridge
House
The Lakes
Northampton
NN4 7HB

Unrestricted Total Total
funds funds funds
2021 2021 2020
Note E
Income from:
Charitable
activities		 18,498,576 18,498,576 11,598,806
Other trading
activities		 1,724,439 1,724,439 1,190,509
Investments 8,190 8,190 2,169
Other income 60,295 60,295 52,533
Total income 20,291,500 20,291,500 12,844,017
Expenditure
on:
Raising funds 8 367,709 367,709 463,573
Charitable
activities		 9 9,910,977 9,910,977 4,964,139
Total expenditure 10,278,686 10,278,686 5,427,712
Net movement
in funds		 10,012,814 10,012,814 7,416,305
Reconciliation
offunds:
Total funds brought forward 8,415,121 8,415,121 998,816
Net movement
in funds		 10,012,814 10,012,814 7,416,305
Total funds carried forward 18,427,935 18,427,935 8,415,121

As restated As restated
Note 2021 2021f 2020
E		 2020
E
Fixed assets
Intangible
assets		 14 6,300
Tangible assets 15 311,951 332,667
311,951 338,967
Current assets
Stocks 17 4,824 3,298
Debtors: Amounts falling due within one year 18 3,411,176 3,219,451
Investments 19 6,024,898 1,104,886
Cash at bank and in hand 23 12,208,754 7,055,279
21,649,652 11,382,914
Creditors: Amounts falling due within one
year 20 (3,533,668) (3,306,760)
Net current assets 18,115,984 8,076,154
Total net assets 18,427,935 8,415,121
Group funds
Unrestricted
funds		 21 18,427,935 8,415, 121
Total funds 18,427,935 8,415,121
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and preparation of financial statements.

As restated
2021 2020
Note E E
Cash flows from operating activities
Net cash used
in operating		 activities 22 10,159,711 7,029,084
Cash flows from investing activities
Investment
income		 6 8,190 2,169
Purchase oftangible fixed assets 15 (94,414) (73,664)
Purchase of investments 19,24 (4,920,012) (1,104,886)
Net cash used in investing activities (5,006,236) (1,176,381)
Change in cash and cash equivalents in the year 5,153,475 5,852,703
Cash and cash equivalents at the beginning ofthe year (as restated) 7,055,279 1,202,576
Cash and cash equivalents at the end of the year 23 12,208,754 7,055,279

Freehold
buildings		 2% on cost
Fixtures and fittings 10% on cost
Office equipment 25% on cost
Computer
equipment		 33% on net book value
CRM database 25% on cost

Unrestricted Total
funds funds
2021f 2021
F
Education, membership and profile work 18,498,576 18,498,576
Unrestricted Total
funds funds
2020 2020
Education, membership and profile work 11,598,806 11,598,806
5. Income from other trading activities
Unrestricted Total
funds funds
2021 2021
E
Training income 1,724,439 1,724,439
Unrestricted Tote/
funds funds
2020 2020
Training income 1,190,509 1,190,509

Unrestricted Total
funds funds
2021 2021
E
Bank interest receivable 8,190 8,190
Unrestricted Total
funds funds
2020 2020
E
Bank interest receivable 2,169 2,169

Unrestricted Total
funds funds
2021 2021f
Other 60,295 60,295
Unrestricted Totel
funds funds
2020 2020
Member's summit 105 105
Other 52,428 52,428
52,533 52,533

Unrestricted Total
funds funds
2021 2021
E
Training costs 367,709 367,709
Unrestricted Total
funds funds
2020 2020
Training costs 463,573 463,573

Activities
undertaken Support Total
directly costs funds
2021 2021 2021
K F K
Memberships 233,725 90,196 323,921
Education 7,422,365 2,164,691 9,587,056
7,656,090 2,254,887 9,910,977
Activities
undertaken Support Total
directly costs funds
2020 2020 2020
E
Memberships 180,686 28,636 209,322
Education 4,067,580 687,237 4,754,817
4,248,266 715,873 4,964,139

Total
Memberships Education funds
2021 2021 2021
Staff costs 42,207 1,012,964 1,055,171
Depreciation and amortisation 1,498 35,943 37,441
Finance 2,200 52,807 55,007
Information Technology 7,132 171,175 178,307
Human
Resources		 5,734 137,610 143,344
Office costs 18,956 454,951 473,907
Governance 4,192 100,596 104,788
Other 8,277 198,645 206,922
90,196 2,164,691 2,254,887
Total
Memberships Education funds
2020 2020 2020
E E
Staff costs 4,255 189,226 193,481
Depreciation and amortisation 729 17,480 18,209
Finance 966 23,171 24,137
Information Technology 1,202 28,834 30,036
Human
Resources		 2,474 59,374 61,848
Office costs 7,426 91,138 98,564
Governance 6,282 150,762 157,044
Other 5,302 127,252 132,554
28,636 687,237 715,873

2021 2020
E E
Auditor's remuneration -Audit ofthe financial statements 6,790 6,105
Auditor's remuneration -Other services 27,909 8,046
Board meetings 1,956 816
Trustees expenses 5,589 2,720
Consultancy
fees		 41,501 139,331
Legal fees 21,043 26
104,788 157,044

Auditor's
remuneration
2021 2020
E
Fees payable to the Charity's auditor for the audit ofthe Charity's annual
accounts 6,790 6,105
Fees payable to the Charity's auditor in respect of:
All non-audit
services not included		 above 27,909 8,046
Audit ofthe financial statements
of		 the subsidiary 3,228 2,988

Staff costs
Group Group Charity Charity
2021 2020 2021 2020
E E
Wages and salaries 5,151,705 1,012,501 4,998,950 838,589
Social security costs 533,112 88,261 516,107 70,528
Pension costs 179,781 27,063 168,294 20,708
5,864,598 1,127,825 5,683,351 929,825
Group Group
2021 2020
No. No.
Raising funds 12
Charitable activities 90
Governance 5
107 20
Group Group
2021 2020
No. No.
Raising funds 12
Charitable activities 90
Governance 5
107 18

Group Group
2021 2020
No. No.

Website Education
development
f		 development Total
F
Cost
At 1 January 2021 28,950 750 29,700
Disposals (28,950) (28,950)
At 31 December 2021 750 750
Amortisation
At 1 January 2021 22,650 750 23,400
Charge for the year 720 720
Disposais (23,370) (23,370)
At 31 December 2021 750 750
Net book value
At 31 December 2021
At 31December 2020 6,300 6,300

Fixtures and Computer
Freehold fittings and equipment
land and office and CRM
buildings equipment Database Total
F
Cost
At 1 January 2021 287,529 39,485 98,567 425,581
Additions 8,549 85,865 94,414
Disposals (48,034) (108,832) (156,866)
At 31 December 2021 287,529 75,600 363,129
Depreciation
At 1 January 2021 34,413 26,098 32,403 92,914
Charge for the year 5,700 2,932 28,089 36,721
On disposals (29,030) (49,427) (78,457)
At 31 December 2021 40,113 11,065 51,178
Net book value
At 31 December 2021 247,416 64,535 311,951
At 31December 2020 253,116 13,387 66,164 332,667
16. Fixed asset investments
Investment
in
subsidiary
Charity companyf
Cost
At 1 January 2021 100
At 31 December 2021 100

Group Group
2021 2020
Publicity materials 4,824 3,298
The Charity held no stock in either the current or previous reporting period.

Group Group Charity Charity
2021 2020f 2021 2020f
Trade debtors 2,555,164 404,835 2,536,281 242,050
Amounts
owed by group undertakings		 51,359 36,718
Other debtors 34,462 18,426 34,149 16,878
Prepayments and accrued income 821,550 2,796,190 821,550 2,795,960
3,411,176 3,219,451 3,443,339 3,091,606

Group Charity
Group As restated Charity As restated
2021 2020f 2021 2020f
Fixed term deposits 6,024,898 1, 104,886 5,939,898 765,013

Group Group Charity Charity
2021 2020 2021 2020
E
Trade creditors 189,465 943,107 187,256 908,095
Other taxation and social security 1,146,971 729,043 1,121,519 631,798
Other creditors 102,299 18,693 102,299 18,693
Accruals and deferred
income		 2,094,933 1,615,917 1,814,426 1,277,750
3,533,668 3,306,760 3,225,500 2,836,336
Group Group Charity Charity
2021 2020 2021 2020
Deferred income
Deferred income at 1 January 1,095,261 535, 760 777,654 362,681
Resources deferred
during the year		 1,410,229 2,378,023 1,151,772 1,108,005
Amounts released from previous periods (1,095,261) (1,818,522) (777,654) (693,032)
Deferred income at 31 December 1,410,229 1,095,261 1,151,772 777,654

Group
2021		 Group
' 2020
E
Net
income
for
the		 year (as per Consolidated Statement of
Financial Activities) 10,012,814 7,416,305
Adjustments
for:
Depreciation
charges		 15 36,721 17,489
Amortisation
charges		 14 720 720
Investment
income		 6 (8,190) (2,169)
Loss on disposal of tangible fixed assets 15 78,409
Loss on disposal of intangible fixed assets 14 5,580
Increase
in stock		 17 (1,526) (1,395)
Increase
in debtors		 18 (191,725) (2,925,591)
Increase
in creditors		 20 226,908 2,523,725
Net cash provided by operating activities 10,159,711 7,029,084
23. Analysis ofcash and cash equivalents
Group
Group As restated
2021 2020
F
Cash at bank and in hand 12,208,754 7,055,279
Total cash and cash equivalents 12,208,754 7,055,279

As restated At 31
at 1 January December
2021 Cash flows 2021
F
Cash at bank and in hand 7,055,279 5,153,475 12,208,754
Liquid investments 1,104,886 4,920,012 6,024,898
8,160,165 10,073,487 18,233,652

Group Group Charity Charity
2021f 2020 2021
E		 2020f
Contracted for but not provided in these
financial statements
Acquisition
of intangible		 assets 230,729 230,729

payments und er non-cancellable
operating
leas		 es as follows:
Group Group Charity Charity
2021 2020 2021 2020
E E F
Not later than 1 year 123,538 672,270 123,000 672,270
Later than 1 year and not later than 5years 211,769 12,189 211,500 12,189
335,307 684,459 334,500 684,459
Group Group
2021 2020
27,628 17,829