OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-08-31-accounts

Company Registration No: 01269980

Charity Registration No: 272565

English Speaking Board (International) Limited

Report of the Trustees and Financial Statements

For The Year Ended 31 August 2024

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED CONTENTS

Page
Chair’s Report 1-2
Trustees and Advisers 3
Report of the Trustees including Statement of Trustees' responsibilities 4 – 7
Independent Auditor’s Report to the Trustees 8 – 11
Statements of Financial Activities 12-13
Statement of Financial Position 14
Statement of Cash Flows 15
Notes to the Accounts 16 – 26

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

CHAIR’S REPORT

FOR THE YEAR ENDED 31 AUGUST 2024

Reflections:

This financial year continued to see us challenged in terms of our revenue. In order to adapt to our current levels of revenue and seek growth we embarked on a restructure to grow our business capacity and continued to manage our expenditure. From January we created a new Business Strategy Team utilising three current staff differently to focus on sales and marketing and our online presence and recruited to a new Business Strategy Manager, as our CEO had delivered this role in addition to her other duties since 2020. Alan Brierley started as our new Business Strategy Manager in April 2024 coming from the Leadership Skills Foundation, another Awarding Organisation, to deliver our growth and retention targets for 2024 and to support our work to devise new strategies for growth and retention. We also created a new External Engagement and HR function to focus on grants and philanthropy and Fiona Rushton heads this function.

We invested this year in a new conference sponsoring opportunity to attract independent schools to our Oracy products. The ISPN North Conference in Manchester was a valuable opportunity for our CEO and Chief Assessor to build relationships with Headteachers of the Independent sector. This relationship with the most senior leaders is key to influencing those with spend decisions.

We also launched in March our new assessment products for our young people in Greece at B2 and C2 levels. Responding to our client’s needs, market forces and competition, we created unique assessment products written for a target audience of young teenagers. As our biggest single client and with a longstanding and close relationship, we continually listen and deliver enhanced products and services to them.

This year saw some outstanding client relationship work with our ESOL Skills for Life clients. Responding to external government policy impacts we created a taskforce to consult and offer changes to our products and services. This portfolio of clients is worth 36.5% of our certification income and so is an important revenue source to retain.

We also enhanced our focus on retaining our Top 40 clients who represent nearly 80% of our income. The Senior Leadership Team managed a group of centres and monitored their booking patterns to gain insight as to any variances in behaviour. Our new Business Strategy Team will commence this focus for 24/25 as well as a retention and communication program for all our centres.

Sadly we learned of the death in May 2024 of Avril Newman, a former Trustee and the Ambassador of our 70/70 campaign. As a Headteacher of Sir William Burrough School, one of our centres, she was committed to her children’s opportunities and coined the phrase that our certificates were to those children whom her school served, “a golden ticket to social mobility and life long success’. She will be honoured in November at a memorial service and ESB will be represented by the CEO and others to mark our profound thanks, appreciation and love for an amazing educator and significant individual.

Governance changes

Stephen Norton finished his term as our Honorary Treasurer and we were delighted that Jim McAtear has taken up the baton. At the time of writing this report, we thank Andrew Cumiskey and Julia Ward for their time as Trustees as they step away. Julia Ward has served her full six years as a Trustee and her rich support of ESB has been significant.

Workforce changes

Two long serving team members left this year – Matthew Hannaford, our Finance and Premises Manager, for a new finance role in a multi academy trust and Sheena Singleton commenced her early retirement. Both had wonderful send offs from the team to thank them for their significant contributions to ESB International. We welcomed Colin Taylor as our new Finance and Premises Manager. Colin brings a career experience in finance and accounting and we are already benefitting from his expertise and diligence.

We also said good bye to Abdul Miah our Business Development Officer and Tom Wilson a current colleague from our Customer Experience team is performing this role as a development opportunity in our new Business Strategy team.

-1-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

In Customer Experience Georgie Anderson returned after her maternity leave and Jack Miller returned to the team also. Isaac Hart who had worked in Quality Assurance and Customer Experience left in September going to a new role at Edge Hill University.

Julie Collins, one of our Product Development Team stepped away after many years working with us as a paper writer and assessor, to spend more time with her family.

New patrons

As part of our strategy we have been searching for patrons to support our Outreach programs and our broader messaging about our areas of educational influence. We now have appointed two patrons: Dr Kush Kanodia supporting our work with Oracy for learners with Special Educational Needs and Disabilities and Meena Kumari Woods championing Oracy for learners in mainstream schools, VI forms and Further Education settings. Dr Kanodia will reach new channels to champion and disseminate how we empower those with significant learning needs ot access great Oracy programs and qualifications and October 2024 will see a five week campaign to highlight this work.

Meena Kumari Woods will be in place to support our thinking and positioning on the focus of the new government on Oracy, their curriculum review and the publication of the Oracy Education Commission’s report. Patron’s play such a vital role in widening our links, raising our profile and hopefully encouraging philanthropic support for our outreach work.

S Mirza – Chair

-2-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED TRUSTEES AND ADVISERS

AS AT 31 AUGUST 2024

Trustees
Ms J Ward (Resigned 22 October 2024)
Mr S Mirza
Mr S Norton
Ms S Priestley
Ms F Richardson
Mr D Brown
Mr A Cumiskey (Resigned 19 September 2024)
Ms Joanna Jarjue
Mr Damian Low
Dr James McAtear
Mr Jason Vit
Company Secretary Ms C Leary
Chief Executive Officer Ms T Renshaw
Registered office 9 Hattersley Court
Burscough Road
Ormskirk
Lancashire
L39 2AY
Company number 01269980
Charity number 272565
Auditor Mitchell Charlesworth (Audit) Limited
The Plaza,
100 Old Hall Street,
Liverpool
L3 9QJ
Bankers NatWest Bank PLC
130 Lord Street
Southport
PR9 0AE
Barclays Bank PLC
164 Allerton Rd
Liverpool
L18 2DH
Solicitor BLM (Berrymans Lace Mawer LLP)
King’s House
42 King Street West
Manchester M3 2NU
Investment Managers Canaccord Genuity

-3-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report together with the financial statements for the year ended 31 August 2024. The charity has opted to prepare its accounts using the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) and follow the Charities SORP (FRS 102) (as amended for accounting periods commencing from 1 January 2019). As a charity registered in England and Wales, the charitable company also reports in accordance with the Charity Commission for England and Wales’ guidance on public benefit and the Charities Act 2011.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The English Speaking Board (International) Limited (ESB) is a company limited by guarantee and a registered charity as defined by the Companies Act 2006, and incorporated on 22 July 1976. The organisation is governed by its Memorandum and Articles of Association which were revised, updated and approved by the members at the 64[th] Annual General Meeting held at the Mercure Piccadilly Hotel, Portland Street, Manchester, M1 4PH on 24 June 2017. A further revision was made on 18 July 2020 and 04 September 2024

Reference and administrative details

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

Ms J Ward (Resigned 22 October 2024) Ms F Richardson Mr S Mirza Mr S Norton Ms S Priestley Mr D Brown Mr A Cumiskey (Resigned 19 September 2024) Mr D Low Ms J Jarjue Mr J Vit Dr J McAtear

Recruitment and appointment of new trustees

The directors, who are also charity trustees for the purposes of Charity Law, are known as members of the Board of Trustees. They are recruited in line with the terms laid out in the Articles of Association. Trustees are not paid but may claim reasonable expenses. They may not be salaried employees but may be contracted as freelance assessors for example.

Induction and training of new trustees

All new trustees receive an induction pack, which includes a brief of their general Charity and Company Law responsibilities, the ESB’s Memorandum and Articles of Association, along with other ESB policies and information. In addition we hold digital induction sessions to support their knowledge and understanding of our financial strategy, our business strategy and our regulators.

Organisational Structure

ESB has a board of trustees with a broad range of skills, knowledge and expertise, who meet four times a year and serve on a voluntary basis. Trustees who have received remuneration for ESB contracted work carried out during the year are referred to in Note 12 of the financial statements.

There is a clear differentiation between governance, which is the role of the Board of Trustees, and operations, which is the role of the Chief Executive. For example, the trustees can collectively direct the Chief Executive but not the staff. Similarly, the staff may prepare the budget but it is the trustees who set it. The contact with staff is through the Chief Executive who reports to and is monitored and appraised by the Board.

Remuneration of Key Management

ESB operates its salary structure within salary bands. Roles are designated a value taking into account the expertise required for the role, the judgment required and the accountability. Key Management salaries are set by the Chief Executive on appointment. Pay increases are based on performance using published criteria. All permanent employees of ESB may seek a pay review once a year. Operational bonuses are based on ESB’s financial performance, the Chief Executive makes the final decision on these after seeking input from the management team. The Chief Executive’s salary and pay increases are set by the Board of Trustees.

-4-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

Risk Management

The trustees have a formal process for assessing risks and implementing risk management strategies. A comprehensive risk register is presented to the Trustees at each meeting.

The operating arm of the charity usually meets as a Senior Management Team twice a month to review its performance against strategy and to consider strategic activities that need to be undertaken.

OBJECTIVES AND ACTIVITIES

Objectives and activities for the public benefit

English Speaking Board (International) Limited (ESB) as an organisation with charitable status has a purpose to want all learners to possess the oracy and English language skills they need to achieve their aspirations. We want to stretch the most able and support the least confident and realise the potential of all by closing the disadvantage gap.

In planning their activities, the trustees have kept in mind the Charity Commission’s guidance on public benefit. Running ESB as an effective business limited by guarantee is ensuring that we can meet our charitable purposes because we seek to support the widest group of learners, domestically and internationally and we have the evidence of the public benefit of enhancing communication, English language, speaking and listening skills to learners. We can therefore price our products accordingly and secure revenue that provides us with development funds and operating surpluses to maintain, sustain and develop our work. ESB did increase its prices for the academic year 22-23. However, it also increased assessor and marker fees as well as staff remuneration and paid a cost-of-living increase to staff to acknowledge the external financial stressors.

The trustees have identified the strategic objectives of the Charity, and these are highlighted in the three-year Strategic Plan (2023-2025), which was approved in January 2023.

Our purpose

To do this we:

Central strategic theme - To create deep customer engagement

Goals

We continue to look externally to understand the market, our competitors and our clients, and produce a competitor analysis when required. Each year we identify Key Performance Indicators to drive the achievement of our strategy.

-5-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

Charitable status and public benefit

The charity regularly reviews all fees and charges to ensure price sensitivity appropriate to our markets. In addition, the charity is keen to promote access for those who may find funding them difficult but who wish to benefit from all that an ESB assessment provides.

The charity established an Access Fund in memory of Christabel Burniston MBE, founder of ESB. In this financial year we spent £22,995 from the Christabel Burniston fund.

FINANCIAL REVIEW

The Statement of Financial Activities (SOFA), on page 12, reflects all income receivable in the year. Total income amounted to £1,487,269 (2023: £1,451,352). Total expenditure was £1,671,210 (2023: £1,744,570). This resulted in a loss for the year of £161,928 (2023: loss of £299,705). Total funds carried forward decreased to £1,331,770 (2023: £1,493,698).

ESB has good financial management in place, with tight control of cash flow and debtors. The Trustees, as an intrinsic part of the charity’s strategic risk management, will continue to monitor income and expenditure carefully and to receive monthly reports on major trends.

Reserves Policy

The trustees have examined the requirements for reserves in light of the main risks to the organisation. ESB’s reserves policy, approved by the Board, is to maintain a level of free reserves that will enable the charity to ensure a continuity of activity and have the ability to adjust in a measured way to significant changes in the external regulatory and economic environment.

The trustees consider the target should be the equivalent of between eight and ten months of operational fixed expenditure which is estimated at £700,000. At the current year-end 31 August 2024, free reserves stood at £866,615, a decrease of £114,169 from the prior year. Plans are in place to maintain charity reserves at healthy levels and not to allow these to fall below the target.

Principal funding sources

The organisation is funded by the charges it makes for the delivery of assessments and examinations.

FUTURE DEVELOPMENTS

2025 will see the commencement of our new strategy to seek growth across our product lines to return to break even financial performance each year.

-6-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of English Speaking Board (International) Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and Financial Reporting Standards applicable in the UK and Republic of Ireland.

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

In so far as the trustees are aware:

Auditor

The auditor will be appointed at the Trustees’ meeting in January 2025.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within part 15 of the Companies Act 2006.

This report was approved by the trustees on 18 January 2025 and signed on their behalf by:

………………………………………………

S Mirza- Chair

-7-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

Opinion

We have audited the financial statements of English Speaking Board (International) Limited (the ‘charity’) for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

-8-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

-9-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

The extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

-10-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2024

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Jamielee Johnston CA (Senior Statutory Auditor)

for and on behalf of Mitchell Charlesworth (Audit) Limited

……………….

13 February 2024

Chartered Accountants Statutory Auditor

The Plaza, 100 Old Hall Street, Liverpool L3 9QJ

-11-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024

CURRENT YEAR
Income and endowments from:
Note
Donations and legacies
Charitable activities
3
Investments
4
Total income and endowments
Expenditure on:
Raising Funds
8
Charitable activities
5
Total expenditure
Net gains/(losses) on Investments
9
Net income / (expenditure) before transfers
Transfers between funds
20
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
-
1,459,726
27,543
1,487,269
2,500
1,616,245
1,618,745
22,013		 Designated
funds
£
-
-
-
-
-
52,465
52,465
-		 Total
funds
2024
£
-
1,459,726
27,543
1,487,269
2,500
1,668,710
1,671,210
22,013		 Total
funds
2023
£
-
1,434,387
16,965
1,451,352
2,488
1,742,082
1,744,570
(6,487)
(109,463)
(7,333)
(116,796)
1,269,875
1,153,079		 (52,465)
7,333
(45,132)
223,823
178,691		 (161,928)
-
(161,928)
1,493,698
1,331,770		 (299,705)
-
(299,705)
1,793,403
1,493,698

The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities.

-12-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024

PRIOR YEAR
Income and endowments from:
Note
Donations and legacies
Charitable activities
3
Investments
4
Total income and endowments
Expenditure on:
Raising Funds 8
Charitable activities
5
Total expenditure
Net gains/(losses) on Investments
9
Net income / (expenditure) before transfers
Transfers between funds
20
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
-
1,434,387
16,965
1,451,352
2,488
1,681,826
1,684,314
(6,487)		 Designated
funds
£
-
-
-
-
-
60,256
60,256
-		 Total
funds
2023
£
-
1,434,387
16.965
1,451,352
2,488
1,742,082
1,744,570
(6,487)
(239,449)
(37,261)
(276,710)
1,546,585
1,269,875		 (60,256)
37,261
(22,995)
246,818
223,823		 (299,705)
-
(299,705)
1,793,403
1,493,698

The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities.

-13-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2024

Note
Fixed assets
Intangible assets
14
Tangible assets
15
Investments
16
Current assets
Debtors
18
Cash at bank and in hand
Creditors: Amounts falling due
within one year
19
Net current assets
Total assets less
current liabilities
Net assets
Funds
20
Unrestricted funds - fixed assets
Unrestricted funds - undesignated
Unrestricted funds - designated
Restricted funds		 Unrestricted
funds
£
-
286,464
515,526
801,990
161,799
253,304
415,103
(64,014)
351,089
1,153,079
1,153,079
801,990
351,089
-
-
1,153,079		 Designated
funds
£
-
-
-
-
-
178,691
178,691
-
178,691
178,691
178,691
-
-
178,691
-
178,691		 Total funds
2024
£
-
286,464
515,526
801,990
161,799
431,995
593,794
(64,014)
529,780
1,331,770
1,331,770
801,990
351,089
178,691
-
1,331,770		 Total funds
2023
£
-
289,091
493,513
782,604
165,777
611,697
777,474
(66,380)
711,094
1,493,698
1,493,698
782,604
487,271
223,823
-
1,493,698

These financial statements have been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime.

These financial statements were approved and authorised for issue by the Board of Trustees on 18 January 2025 and were signed on its behalf by:

…………………………………………………………..

S Mirza- Chair

Company number: 01269980

-14-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

Trustee

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2024

Cash flows from Operating Activities
Cash receipts from customers
Cash receipts from other operations
Cash paid for supplier purchases
Cash paid for general operating and administrative expenses
Customer refunds
Cash generated from operations
Cash flows from Investing Activities
Purchase of Tangible & Intangible assets
Purchase of investments
Proceeds on disposal of investments
Cash receipts from bank account interest
Cash receipts from investment
Net cash (absorbed) / provided by Investing Activities
Cash flows from Financing Activities
Repayment of bank loans
Net cash used in financing activities
Effects of currency translation on cash and cash equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
1,451,526
1,584
(811,034)
(841,352)
(2,740)
(202,016)
(1,674)
-
-
5,041
20,149
23,517
-
-
(1,203)
(179,702)
611,697
431,995		 2023
£
1,468,080
1,929
(877,942)
(854,369)
(1,823)
(264,125)
-
(500,000)
-
3,442
9,320
(487,238)
-
-
(283)
(751,646)
1,363,342
611,697

See Note 24 for Analysis of changes in net funds

-15-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

English Speaking Board (International) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Hattersley Court, Burscough Road, Ormskirk, Lancashire, L39 2AY.

(a) Accounting convention

These accounts have been prepared in accordance with the charity’s governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value.

(b) Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

(c) Income

All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, and the amount can be quantified with reasonable accuracy. Entitlement to legacy income is the earlier of the charity being notified of an impending distribution or the legacy being received. Income from the provision of examinations is accounted for as earned.

(d) Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Expenditure includes irrecoverable value added tax.

(e) Intangible fixed assets

Expenditure relating to development of a database system and mobile phone app has been capitalised and is being amortised over their useful life of one to three years.

(f) Tangible fixed assets

Tangible fixed assets costing more than £1,500 may be capitalised and included at cost including any incidental expenses of acquisition.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected useful economic lives as follows:

-16-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

(g) Fixed asset investments

Quoted investments and other investments are stated at current market value at the balance sheet date. All gains and losses, both realised and unrealised, are included in the Statement of Financial Activities.

(h) Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

(i)

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

(j)

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's statement of financial position when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

-17-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

(k) Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

(l) Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

(m) Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities.

(n) Operating leases

Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred.

(o) Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income and gains falling within these exemptions.

The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.

(p) Fund accounting

Unrestricted funds which have not been designated for specific purposes can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

-18-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful economic lives of intangible assets

The annual amortisation charge for intangible fixed assets which comprise a website, database and mobile phone app development is sensitive to changes in their estimated useful economic lives. The useful economic lives are assessed on initial acquisition and reassessed periodically to ensure they remain appropriate. They are amended when necessary to reflect current estimates based on technological advancement, future investments and economic utilisation. Accounting policy note (e) sets out the useful economic lives applied to the intangible fixed assets and their carrying value is shown in note 14.

3 Income from charitable activities

Examination fees
Other examination income
IESOL examination fees		 Unrestricted
funds
£
891,273
18,666
549,787
1,459,726		 Total
2024
£
891,273
18,666
549,787
1,459,726		 Unrestricted
funds
£
840,129
45,051
549,207
1,434,387		 Total
2023
£
840,129
45,051
549,207
1,434,387

-19-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

4
Investment income
Unrestricted
funds
£
Bank interest
4,728
Income from Investments
22,815
27,543
5
Cost of charitable activities
Current Year
Examinations
Staff Costs (Inc. agency staff) (note 13)
Restructuring -Termination and payment in lieu of
notice. In accordance with accounting policy (k).
Funded through normal operations
Examination expenses and fees
IESOL examination expenses
Other
Management
Finance (note 6)
Governance (note 7)
Prior Year
Examinations
Staff Costs (Inc. agency staff)
Examination expenses and fees
IESOL examination expenses
Other
Management
Finance (note 6)
Governance (note 7)		 Total
2024
£
4,728
22,815
27,543
Direct
Costs
£
472,032
306,902
211,021
56,792
1,046,747

-20-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

6
Finance
Bank charges
Loan interest
Exchange Rate Variance
7
Governance
Audit fees (current year)
Company Secretary Work
Trustee Meetings & Expenses
8
Raising Funds
Investment Management
9
Net gains/(losses) on investments
Net gains/(losses) on investments
10
Auditors’ remuneration
The analysis of auditor’s remuneration is
Audit of charity’s annual accounts
Other non-audit services		 Unrestricted
funds
£
1,021
-
2,769
3,790
Unrestricted
funds
£
6,567
4,850
11,417
as follows:		 Total
2024
£
1,021
-
2,769
3,790
Total
2024
£
6,567
4,850
11,417		 Unrestricted
funds
Total
2023
£
£
1,128
1,128
-
-
(68)
(68)
1,060
1,060
Unrestricted
funds
Total
2023
£
£
6,306
6,306
870
870
7,176
7,176
Total
2024
Total
2023
£
£
2,500
2,488
Total
2024
Total
2023
£
£
22,013
(6,487)
Total
2024
Total
2023
£
£
6,132
5,871
435
435

-21-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

11 Net income/expenditure

Net income/expenditure
Total Total
2024 2023
£ £
Net income/expenditure is stated after charging:
Amortisation of intangible fixed assets - 4,150
Depreciation of tangible fixed assets 4,301 3,964
Auditor fees 6,132 5,871
Other fees paid to Auditor 435 435

12 Trustees’ remuneration

The amounts paid to trustees in respect of examiner duties performed during the year amounted to £1,940 (2023: £13,626). Payments of this nature have been agreed with the Charity Commission.

Trustees' expenses

During the year, 12 trustees received £3,042 in expenses for travel, subsistence and accommodation (2023: 12 trustees – £0 expenses paid)

13 Employee costs

Wages and salaries
National Insurance Costs
Employer’s contribution to defined pension scheme
The number of employees during the year was as follows:
Staff numbers – Average Head Count
Staff numbers – Full Time Equivalent
No. of employees whose total employee benefits (excluding
employer pension costs) were between £60,000 - £70,000:
No. of employees whose total employee benefits (excluding
employer pension costs) were between £70,000 - £80,000:
No. of employees whose total employee benefits (excluding
employer pension costs) were between £80,000 - £90,000:
-		 Total
2024
£
803,499
61,211
56,416
921,126
No
22
19
-
-
1		 Total
2023
£
799,278
61,532
57,400
918,210
No
24
20
-
1
-

-22-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

14 Intangible assets

14 Intangible assets
IT Total
Development
£ £
Cost
At 1 September 2023 244,516 244,516
Additions - -
At 31 August 2024 244,516 244,516
Amortisation
At 1 September 2023 244,516 240,366
Charge for the year - 4,150
At 31 August 2024 244,516 244,516
Net book value:
At 31 August 2024 0 0
At 31 August 2023 0 0
15 Tangible fixed assets
Tangible fixed assets
Long Office Total
leasehold fittings,
land and computer
buildings and
technology
£ £ £
Cost
At 1 September 2023 385,567 86,631 472,198
Additions - 1,674 1,674
Disposals - (3,978) (3,978)
At 31 August 2024 385,567 84,327 469,894
Depreciation
At 1 September 2023 97,935 85,173 183,108
Charge for the year 3,322 979 4,301
Eliminated on Disposals - (3,978) (3,978)
At 31 August 2024 101,257 82,174 183,431
Net book value:
At 31 August 2024 284,310 2,153 286,463
At 31 August 2023 287,632 1,458 289,090

-23-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16
Fixed Asset Investments
Listed
Investments
£
Cost or Valuation
At 1 September 2023
477,794
Additions
Valuation Changes
Net Movement in Cash
-
29,685
-
Disposals
(23,176)
At 31 August 2024
484,303
Carrying Amount
At 31 August 2024
484,303
At 1 September 2023
477,794
17
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Instruments measured at fair value through income and expenditure
Carrying amount of financial liabilities
Measured at amortised cost
18
Debtors: amounts falling due within one year
Trade debtors
Other debtors
Prepayments		 Cash in
Portfolio
£
15,719
-
-
15,504
-
31,223
31,223
15,719
2024
£
566,929
484,303
42,873
2024
£
103,443
263
58,093
161,799		 Total
£
493,513
-
29,685
15,504
(23,176)
515,526
515,526
493,513
2023
£
747,904
477,794
48,311
2023
£
120,488
-
45,289
165,777

-24-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

19 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Taxation and National Insurance
Other creditors
20
Movement in funds
At 1 Sept
2023
£
General funds
Unrestricted funds
1,269,875
Designated funds
Christabel Burniston Fund
40,000
Other Designated Funds
183,823
Total funds
1,493,698
At 1 Sept
2022
£
General funds
Unrestricted funds
1,546,585
Designated funds
Christabel Burniston Fund
40,000
Other Designated Funds
206,818
Total funds
1,793,403		 Income
£
1,487,269
-
-
1,487,269
Income
£
1,451,352
-
-
1,451,352		 2024
£
18,072
20,421
21,141
4,380
64,014
Expenditure
Transfers &
gains
£
£
(1,618,745)
14,680
(22,333)
7,333
(30,132)
-
(1,671,210)
22,013
Expenditure
Transfers &
gains
£
£
(1,690,801)
(37,261)
(37,261)
37,261
(22,995)
-
(1,751,057)
-		 2023
£
24,844
11,922
18,069
11,545
66,380
At 31 Aug
2024
£
1,153,079
25,000
153,690
1,331,769
At 31 Aug
2023
£
1,269,875
40,000
183,823
1,493,698

Christabel Burniston Access Fund

The Fund was set up in 2007, in memory of the late Christabel Burniston MBE, founder of ESB, to offer financial support for access to English Speaking Board examinations, and every application is taken on its merits. The fund was established at the discretion of the trustees, using legacy income received in the year ended 31 August 2009.

Other Designated Funds

Other Designated Funds consist of £102,165 for the development of our Database, Website and CRM System, £38,409 for Product Development, and £13,116 for Resource Development.

The designated funds are all held in cash.

-25-

ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

21 Company status

The charity is a company limited by guarantee. Each member undertakes to contribute to the assets of the company in the event of a winding-up, to an amount not exceeding £1. At 31 August 2023, there were 79 ‘friends’ who are non-voting members and 10 ordinary members who are also Directors/Trustees.

22 Operating leases

At 31 August 2024, the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Operating leases:
Within one year
Within 2 – 5 years
Over 5 years
23
Related party transactions
Remuneration of key management personnel
Wages and salaries
National Insurance costs
Employer’s contribution to defined pension schemes		 2024
£
2,112
139
-		 2023
£

1,984

1,810
-
2,251 3,794
2024
£
363,511
40,541
35,662
439,714		 2023
£
336,173
38,156
34,745
409,073

Key management personnel consisted of n nine employees for 2024 (2023: seven employees). No guarantees have been given or received.

24 Analysis of changes in net funds

24 Analysis of changes in net funds
At 1 Sept Cash Acquisitions New Foreign At 31 Aug
2023 flows and finance exchange 2024
disposals leases movements
£ £ £ £ £ £
Cash at bank and in hand 611,697 (178,500) - - (1,203) 431,995
─────── ─────── ─────── ─────── ─────── ───────
Total Cash Flows 611,697 (178,500) - - (1,203) 431,995
Loans due within one year - - - - - -
Loans due more than one year - - - - - -
Obligations under finance leases
-		 - - - - -
─────── ─────── ─────── ─────── ─────── ───────
Total funds 611,697 (178,500) - - (1,203) 431,995
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

-26-