**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. 

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## **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** 

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**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|



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## **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. 

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**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** 

- English Speaking Board wants 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. 

## **To do this we:** 

- Listen to our clients, understand their motivations and needs 

- Employ talented people who want to achieve for our clients 

- Support and validate the impact of our teachers and 

- Promote and support assessment at centres that are part of closing the disadvantage gap 

## **Central strategic theme - To create deep customer engagement** 

- Businesses that focus on customer engagement are focused on value creation Value creation is the primary aim of any business entity. Creating value for customers helps sell products and services, while creating value for the business, in the form of increases in revenue and surplus, insures the future availability of surplus funds to invest in our future and support charitable outreach 

## **Goals** 

- By 2025 return to income levels of £1.9M 

- Until 2025 retain 100% of top 20 total revenue centres within 10% of their 2019 revenue levels 

- By 2025 have supported 70 centres to access oracy and language qualifications for learners to realise their potential and contribute to closing the disadvantage gap 

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. 

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**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. 

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## **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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Financial Reporting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 

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: 

- there is no relevant information of which the charitable company's auditors are unaware; and 

- the trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

## **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** 

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**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: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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. 

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**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: 

- the information given in the trustees' report, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements. 

## **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: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies  regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report. 

## **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. 

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**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: 

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we identified the laws and regulations applicable to the company through discussions with directors and other management; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation,  legislation and data protection, anti-bribery, employment and health and safety legislation; 

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and 

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

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

- making enquiries of management as to where they considered there was susceptibility to fraud, their  knowledge of actual, suspected and alleged fraud; and 

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and  regulations. 

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

- performed analytical procedures to identify any unusual or unexpected relationships; 

- tested journal entries to identify unusual transactions; 

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and 

- investigated the rationale behind significant or unusual transactions. 

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

- agreeing financial statement disclosures to underlying supporting documentation; 

- reading the minutes of meetings of those charged with governance; and 

- enquiring of management as to actual and potential litigation and claims. 

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. 

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**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 

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## **ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED** 

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

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



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

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## **ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED** 

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

|**PRIOR YEAR**<br>**Income and endowments from:**<br>**Note**<br>Donations and legacies<br>Charitable activities<br>**3**<br>Investments<br>**4**<br>**Total income and endowments**<br>**Expenditure on:**<br>**Raising Funds                                                             8**<br>**Charitable activities**<br>**5**<br>**Total expenditure**<br>Net gains/(losses) on Investments<br>**9**<br>Net income / (expenditure) before transfers<br>Transfers between funds<br>**20**<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward||**Unrestricted**<br>**funds**<br>**£**<br>-<br>1,434,387<br>16,965<br>1,451,352<br>2,488<br>1,681,826<br>1,684,314<br>(6,487)|**Designated**<br>**funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>60,256<br>60,256<br>-|**Total**<br>**funds**<br>**2023**<br>**£**<br>-<br>1,434,387<br>16.965<br>1,451,352<br>2,488<br>1,742,082<br>1,744,570<br>(6,487)|
|---|---|---|---|---|
|||(239,449)<br>(37,261)<br>(276,710)<br>1,546,585<br>1,269,875|(60,256)<br>37,261<br>(22,995)<br>246,818<br>223,823|(299,705)<br>-<br>(299,705)<br>1,793,403<br>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**<br>**Fixed assets**<br>Intangible assets<br>**14**<br>Tangible assets<br>**15**<br>Investments<br>**16**<br>**Current assets**<br>Debtors<br>**18**<br>Cash at bank and in hand<br>Creditors: Amounts falling due<br>within one year<br>**19**<br>Net current assets<br>**Total assets less**<br>**current liabilities**<br>**Net assets**<br>**Funds**<br>**20**<br>Unrestricted funds - fixed assets<br>Unrestricted funds - undesignated<br>Unrestricted funds - designated<br>Restricted funds|**Unrestricted**<br>**funds**<br>**£**<br>-<br>286,464<br>515,526<br>801,990<br>161,799<br>253,304<br>415,103<br>(64,014)<br>351,089<br>1,153,079<br>1,153,079<br>801,990<br>351,089<br>-<br>-<br>1,153,079|**Designated**<br>**funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>178,691<br>178,691<br>-<br>178,691<br>178,691<br>178,691<br>-<br>-<br>178,691<br>-<br>178,691|**Total funds**<br>**2024**<br>**£**<br>-<br>286,464<br>515,526<br>801,990<br>161,799<br>431,995<br>593,794<br>(64,014)<br>529,780<br>1,331,770<br>1,331,770<br>801,990<br>351,089<br>178,691<br>-<br>1,331,770|**Total funds**<br>**2023**<br>**£**<br>-<br>289,091<br>493,513|
|---|---|---|---|---|
|||||782,604|
|||||165,777<br>611,697|
|||||777,474<br>(66,380)|
|||||711,094|
|||||1,493,698|
|||||1,493,698|
|||||782,604<br>487,271<br>223,823<br>-|
|||||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**<br>Cash receipts from customers<br>Cash receipts from other operations<br>Cash paid for supplier purchases<br>Cash paid for general operating and administrative expenses<br>Customer refunds<br>Cash generated from operations<br>**Cash flows from Investing Activities**<br>Purchase of Tangible & Intangible assets<br>Purchase of investments<br>Proceeds on disposal of investments<br>Cash receipts from bank account interest<br>Cash receipts from investment<br>**Net cash (absorbed) / provided by Investing Activities**<br>**Cash flows from Financing Activities**<br>Repayment of bank loans<br>**Net cash used in financing activities**<br>Effects of currency translation on cash and cash equivalents<br>**Net increase in cash and cash equivalents**<br>Cash and cash equivalents at beginning of year<br>Cash and cash equivalents at end of year|**2024**<br>**£**<br>1,451,526<br>1,584<br>(811,034)<br>(841,352)<br>(2,740)<br>(202,016)<br>(1,674)<br>-<br>-<br>5,041<br>20,149<br>23,517<br>-<br>-<br>(1,203)<br>(179,702)<br>611,697<br>431,995|**2023**<br>**£**<br>1,468,080<br>1,929<br>(877,942)<br>(854,369)<br>(1,823)|
|---|---|---|
|||(264,125)<br>-<br>(500,000)<br>-<br>3,442<br>9,320|
|||(487,238)<br>-|
|||-<br>(283)|
|||(751,646)<br>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: 

- Land and buildings - 1% on cost 

- • Office fittings, computer and technology - 33%-50% on cost 

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



-19- 



## **ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED** 

## **NOTES TO THE ACCOUNTS** 

**FOR THE YEAR ENDED 31 AUGUST 2024** 

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



-20- 



## **ENGLISH SPEAKING BOARD (INTERNATIONAL) LIMITED** 

## **NOTES TO THE ACCOUNTS** 

## **FOR THE YEAR ENDED 31 AUGUST 2024** 

|**6**<br>**Finance**<br>Bank charges<br>Loan interest<br>Exchange Rate Variance<br>**7**<br>**Governance**<br>Audit fees (current year)<br>Company Secretary Work<br>Trustee Meetings & Expenses<br>**8**<br>**Raising Funds**<br>Investment Management<br>**9**<br>**Net gains/(losses) on investments**<br>Net gains/(losses) on investments<br>**10**<br>**Auditors’ remuneration**<br>The analysis of auditor’s remuneration is<br>Audit of charity’s annual accounts<br>Other non-audit services||**Unrestricted**<br>**funds**<br>**£**<br>1,021<br>-<br>2,769<br>3,790<br>**Unrestricted**<br>**funds**<br>**£**<br>6,567<br>4,850<br>11,417<br>as follows:||**Total**<br>**2024**<br>**£**<br>1,021<br>-<br>2,769<br>3,790<br>**Total**<br>**2024**<br>**£**<br>6,567<br>4,850<br>11,417||**Unrestricted**<br>**funds**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>1,128<br>1,128<br>-<br>-<br>(68)<br>(68)<br>1,060<br>1,060<br>**Unrestricted**<br>**funds**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>6,306<br>6,306<br>870<br>870<br>7,176<br>7,176<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>2,500<br>2,488<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>22,013<br>(6,487)<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>6,132<br>5,871<br>435<br>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<br>National Insurance Costs<br>Employer’s contribution to defined pension scheme<br>The number of employees during the year was as follows:<br>Staff numbers – Average Head Count<br>Staff numbers – Full Time Equivalent<br>No. of employees whose total employee benefits (excluding<br>employer pension costs) were between £60,000 - £70,000:<br>No. of employees whose total employee benefits (excluding<br>employer pension costs) were between £70,000 - £80,000:<br>No. of employees whose total employee benefits (excluding<br>employer pension costs) were between £80,000 - £90,000:<br>**-**|**Total**<br>**2024**<br>**£**<br>803,499<br>61,211<br>56,416<br>921,126<br>**No**<br>22<br>19<br>-<br>-<br>1|**Total**<br>**2023**<br>**£**<br>799,278<br>61,532<br>57,400<br>918,210<br>**No**<br>24<br>20<br>-<br>1<br>-|
|---|---|---|



-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**<br>**Fixed Asset Investments**<br>**Listed**<br>**Investments**<br>**£**<br>**Cost or Valuation**<br>At 1 September 2023<br>477,794<br>Additions<br>Valuation Changes<br>Net Movement in Cash<br>-<br>29,685<br>-<br>Disposals<br>(23,176)<br>**At 31 August 2024**<br>**484,303**<br>**Carrying Amount**<br>At 31 August 2024<br>484,303<br>At 1 September 2023<br>477,794<br>**17**<br>**Financial instruments**<br>**Carrying amount of financial assets**<br>Debt instruments measured at amortised cost<br>Instruments measured at fair value through income and expenditure<br>**Carrying amount of financial liabilities**<br>Measured at amortised cost<br>**18**<br>**Debtors: amounts falling due within one year**<br>Trade debtors<br>Other debtors<br>Prepayments|||**Cash in**<br>**Portfolio**<br>**£**<br>15,719<br>-<br>-<br>15,504<br>-<br>**31,223**<br>31,223<br>15,719<br>**2024**<br>**£**<br>566,929<br>484,303<br>42,873<br>**2024**<br>**£**<br>103,443<br>263<br>58,093<br>161,799|**Total**<br>**£**<br>493,513<br>-<br>29,685<br>15,504<br>(23,176)<br>**515,526**<br>515,526<br>493,513<br>**2023**<br>**£**<br>747,904<br>477,794<br>48,311<br>**2023**<br>**£**<br>120,488<br>-<br>45,289<br>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<br>Accruals and deferred income<br>Taxation and National Insurance<br>Other creditors<br>**20**<br>**Movement in funds**<br>**At 1 Sept**<br>**2023**<br>**£**<br>**General funds**<br>Unrestricted funds<br>1,269,875<br>**Designated funds**<br>Christabel Burniston Fund<br>40,000<br>Other Designated Funds<br>183,823<br>**Total funds**<br>1,493,698<br>**At 1 Sept**<br>**2022**<br>**£**<br>**General funds**<br>Unrestricted funds<br>1,546,585<br>**Designated funds**<br>Christabel Burniston Fund<br>40,000<br>Other Designated Funds<br>206,818<br>**Total funds**<br>1,793,403|**Income**<br>**£**<br>1,487,269<br>-<br>-<br>1,487,269<br>**Income**<br>**£**<br>1,451,352<br>-<br>-<br>1,451,352|**2024**<br>**£**<br>18,072<br>20,421<br>21,141<br>4,380<br>64,014<br>**Expenditure**<br>**Transfers &**<br>**gains**<br>**£**<br>**£**<br>(1,618,745)<br>14,680<br>(22,333)<br>7,333<br>(30,132)<br>-<br>(1,671,210)<br>22,013<br>**Expenditure**<br>**Transfers &**<br>**gains**<br>**£**<br>**£**<br>(1,690,801)<br>(37,261)<br>(37,261)<br>37,261<br>(22,995)<br>-<br>(1,751,057)<br>-|**2023**<br>**£**<br>24,844<br>11,922<br>18,069<br>11,545<br>66,380<br>**At 31 Aug**<br>**2024**<br>**£**<br>1,153,079<br>25,000<br>153,690<br>1,331,769<br>**At 31 Aug**<br>**2023**<br>**£**<br>1,269,875<br>40,000<br>183,823<br>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:<br>Within one year<br>Within 2 – 5 years<br>Over 5 years<br>**23**<br>**Related party transactions**<br>**Remuneration of key management personnel**<br>Wages and salaries<br>National Insurance costs<br>Employer’s contribution to defined pension schemes||**2024**<br>**£**<br>2,112<br>139<br>-|**2023**<br>**£**<br> <br>1,984<br> <br>1,810<br>-|
|---|---|---|---|
|||2,251|3,794|
|||**2024**<br>**£**<br>363,511<br>40,541<br>35,662<br>439,714|**2023**<br>**£**<br>336,173<br>38,156<br>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|<br>-|-|-|-|-|-|
||**───────**|**───────**|**───────**|**───────**|**───────**|**───────**|
|**Total funds**|611,697|(178,500)|-|-|(1,203)|431,995|
||**═══════**|**═══════**|**═══════**|**═══════**|**═══════**|**═══════**|



-26-