2021-07-31-accounts - International Schools Of Business Management Limited

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Company	Information
Trustees'	Report (incorporating	the Strategic and Director's Reports)			2-10
Independent Examiner's Report		to the Members			11-12
Statement	of Financial Activities	(including	Income and Expenditure	account)	13
Statement	of Financial Position				14-1S
Statement	of Cash Flows				16
Notes tothe Financial-Statements					17-27

Directors/Trustees	Directors/Trustees			Members
Professor	P Batteau	(resigned		IAE —Aix Graduate School of Management,		France
13.03.21)
Professor	SCaselli			SDA Bocconi School of Management,	Italy
Professor	E Cornuel			European Foundation for Management
				Development (EFMD Global), Belgium
Professor	M Debruyne			Vlerick Business School, Belgium
Professor	K de Valck			HEC Paris, France
Professor	R Deo			NYU Stern School of Business, USA
Emeritus	Professor	G Dyas		INSEAD, France
Professor	L Krishnamurthi			Kellogg School of Management,
				Northwestern University, USA
Professor	P Martensson		(Chair)	Stockholm School of Economics, Sweden
Professor	J Mullins			London Business School, UK
Associate	Professor	C Serrano-Archimi		IAE —Aix Graduate School of Management,		France
(appointed 13.03.21)
Professor	S Singh			Indian School of Business, India

Professor	STerence Tsai	China Europe International	Business School (CEIBS),
		China
Professor	M Yaziji	IMD, Switzerland

		Notes	General ponds	Oeslgnated	Total Funds	Total Funds
			2021	2021	2021	2020
Income fram:
Charitable activities			933,275		933,275
Programme delivery Investment Income			2,621		2,621	3,986
Total Income			935,896		935,896	3,986
Expenditure on;
Raising funds			29,078		29,078	7,786
Charitable activities
Programme delivery			587,569	69,955	657,524	63,578
Total expenditure			616,647	69,955	686,602	71,364
Net (loss)/gain on investments		12	13,442		13,442	(492)
Net Income/
(expenditure) before transfers			332,691	(69,955)	262,736	(67,870)
Transfer between	funds	15/16	(60,000)	60,000
Net movement in	funds		272,691	l9,955)	262,736	(67,870)
Fund balances at		15/16	340,936	79,418	420,354	488,224
1August 2020
Fund balances at 31(uly 2021		15/16	613,627	69,463	683,090	420,354

STATEMENT OF CASH FLOWS FOR	THE YEAR	ENDED	31JULY 2021
		2021	2020
	Notes	f	f
Cash flows from operating activities:
Net cash inflow from operating activities	A	227,625	80,427
Cash flows from investing activities:
Investment income and interest received		2,621	3,986
Proceeds from the disposal ofinvestments			80,000
Purchase of investments
Net cash provided by investing activities		2,621	83,986
Change in cash and cash equivalents In the year		230,246	164,413
Cash and cash equivalents at 1August 2020		399,817	235,404
Cash and cash equivalents at 31July 2021	8	630,063	399,817

				2021	2020
				f	f
Net movement In funds (as per	the statement	offinancial	activities)	262,736	(67,870)
Ad)ustments for:
Losses (gains) on investments				(13,442)	492
Investment income and interest	receivable			(2,621)	(3,986)
Decrease /(Increase) in debtors				(137,527)	94,466
(Decrease) increase in creditors				118,479	57,325
Net cash Inflow from operating	activities			227,625	80,427

Analysis of changes in ne	t debt
		2020	Cash flows	2021
		f	E	f
Cash at bank and in hand		399,817	230,246	630,063
Cash held by investment	managers
Total cash and cash equivalents		399,817	230,246	630,063

ERNATIONAL SCHOOLS OF BUS company limited by guarantee) Expenditure on	ERNATIONAL SCHOOLS OF BUS company limited by guarantee) Expenditure on	INESS MA raising	NAGEMENT funds	NAGEMENT funds			(
General		Fund	Designated		Fund	2021Total	2020 Total
						Funds	Funds
Marketing 29,078						29,078	7,786
Including printing
and stationery
2021Total Funds	29,078					29,078	7,786
2020 Total Funds	7,786					7,786
. Expenditure	on	charitable		activities
General		Fund			General	2021	Total 2020Total
Courses			Designated		Fund	Funds	Funds
delivery			Funds		Governance
Costs directly allocated
to activities
		229,206					229306
Academic
Travel, accommodation and catering		78,060					78,060
Programme		246,510					246,510	32,349
administration
8gr0/						1,500	1,500	3,846
Alumni development
Foreign Exchange		6,681					6,681	895
Bank charges						357	357	142
Independentexaminer						1,662	1,662	1,614
fee
Legal and professional						20,638	20,638	16481
travel, accommodation						361	361	7,578
and subsistence
Information technology						2,594	2,594	573
Scholarships				69,955			69,955
2021 Tote I Funds		560,457		69,955		27,112	657,524	63,578
2020 Total Funds		33,244				30,334	63,578

he net movement in funds f	or the financial yea	r is stated after charg	ing/(crediting
		2021	2020
Amounts payable to independent	examiner:
Independent examination		1,662	1,614
Registered office service		300	300
Training session			275
Interest received		(2,621)	(3,986)

NSEAD which was charged t TP:	o the charitable company fo	r services related	to the deli
		2021	2020
John Mullins	Programme Director/ Development	41,811
Carolina Serrano-Archimi	Teaching and Travel	22,955
Par MArtensson	Teaching and Travel	18,460
Kristine de Valck	Teaching and Travel	16,224

14. C	redit	ors: amount falling d	ue within one	year
			2021		2020
Accruals and deferred income			88,903		61,657
INSEAD			91,233
			180,136		61,657
Movement	on deferred income is as follows:
Deferred income		at 1August 2020	18,359
Amounts	deferred	during the year	81,432	18,359
Amounts	released	in the year	17,826
Deferred	Income	at 31July 2021	81,965	18,359

		General fund	Designated	Total funds
Current	assets	793,763	69,463	863,226
Current	liabilities	(180,136)		(180,136)
		613,627	69,463	683,090

Transactions during the year with Lon	don Business School were a	s follows:
	2021	2020
Course fee income	531,250
Teaching costs	(141,011)
Travel and accommodation	(75,059)
Marketing/Alumni costs	(18,206)
Programme administration	(103,919)
Net total for the year	193,055