# **Institute of Integrated Systemic Therapy**
**Company number: 01708301 Charity number: 286909**
## **Annual Report and Accounts**
**For the year ended 31 March 2025**
## **Contents**
||**Page**|
|---|---|
|**Vision, Mission and Aims**|**1**|
|**The Charity and Integrated Systemic Therapy**|**1**|
|**Trustees’ Report**|**2**|
|**Achievements and Performance**|**2**|
|**Financial Review and the Results for the Year**|**3**|
|**Risk and Uncertainties**|**4**|
|**Structure, Governance and Management**|**5**|
|**Approach to Fundraising**|**6**|
|**Public Benefit**|**6**|
|**Statement of Responsibilities of the Trustees**|**7**|
|**Disclosure of Information to the Auditors**|**7**|
|**Independent Auditor’s Report**|**8**|
|**Financial Statements**|**11**|
|**Notes to the Financial Statements**|**14**|
|**Reference and Administrative Details**|**22**|
IiST Annual Report and Accounts 2024/25 **Trustees’ Report**
1
## **Vision, Mission and Aims**
## **Our Vision**
To be the leading provider of therapeutic care, education and treatment for children and young people who have experienced early childhood trauma.
## **Our Mission**
To transform the lives of children and young people who suffer severe emotional and psychological difficulties, so that they can relate well to others and fulfil their potential.
## **Our Approach**
A form of psychotherapeutic group living and learning modelled on healthy relationships, adapted to the developmental needs of children and young people suffering early childhood trauma.
## **Our Values**
- Authenticity – to ensure that the choices and decisions we make reflect our feelings and beliefs.
- Resilience – to recover from difficult experiences whilst maintaining psychological well-being.
- Compassion – to respond to other people’s emotions and take action to help others.
- Dedication – to give the time and energy to care for traumatised children and young people.
- Aspiration - to hold onto hope for the children until they are able to hold onto it for themselves.
## **The Charity**
The charity’s origins can be traced to 1919, with the foundation of Park House, a Training School for Jewish Boys in Middlesex. In 1947 the school relocated to Peper Harow House in Surrey, evolving in the early 1970s into a pioneering therapeutic community for troubled adolescents, which established the therapeutic values for which the charity is now renowned.
Over the last 25 years, the charity has developed to consist of five therapeutic communities and a therapeutic independent special school. These therapeutic environments have continued to develop their services in line with modern day challenges and needs and remain at the forefront of caring for, educating and clinically treating some of the countries most traumatised children and young people.
## **Integrated Systemic Therapy**
iST is a systems-based and group-based therapeutic intervention, which also integrates individual psychotherapy. Within the context of a shared ‘therapeutic community’ life, iST focuses in particular on a structure of overlapping psychodynamic groups and supervisions, aimed at facilitating individual and group self-awareness and change, at behavioural, emotional and psychological levels. It is particularly suitable for children and young people who have experienced serious emotional and psychological trauma, and who struggle to function safely and effectively in less specialised settings, such as in families and schools. iST is accredited by the UKCP (United Kingdom Council for Psychotherapy).
## **The Institute of Integrated Systemic Therapy (IiST)**
In 2015 Childhood First changed its name to The Institute of Integrated Systemic Therapy to reflect its special status as a clinical training and research organisation. Accordingly, we adapted and refreshed our ‘brand identity’ to reflect the seamless integration of our care, education, training and research. We continue to deliver our therapeutic services for children under the name of Childhood First.
IiST Annual Report and Accounts 2024/25 **Trustees’ Report (continued)**
2
## **Trustees’ Report**
Welcome to our 2024/25 annual report. This year we have made huge strides forward in equipping the charity with the systems, developments and processes required to continue to meet the needs of our children and young people, and our staff that work so tirelessly to care, educate and treat them each and every single day.
In line with the Charity Commission’s ‘Principles of Best Practice’, the Trustee Board undertook a full and comprehensive review of its Trustee governance processes. This has improved the process for recruitment, induction and performance of Trustees, and engagement with Patrons.
The executive team, led by Chief Executive, Gary Yexley has continued to ensure that the day to day care of the children and young people is safe and meets their complex emotional, educational and social needs. The training team has continued to deliver the high quality clinical training to the staff, and over the next year more of the quality improvements identified as required in the Charity’s five-year strategic plan will be realised.
Our homes continue to demonstrate a high level of compliance with our statutory requirements with all of our five homes and our school receiving Ofsted inspection ratings of ‘Good’ or ‘Outstanding’. As we look forward to the coming year, we will continue to implement our five year Charity Plan to ensure that we treat children safely and effectively.
## **Our Achievements and Performance**
## **Strategic Objectives**
We provide specialist 24/7 care, treatment and education for children and young people living with complex psychological trauma, emotional, behavioural, social and educational difficulties.
The organisation’s strategic objectives have remained consistent throughout our strategic review process and continue to best articulate the overriding goals of the new strategic plan, its priorities and developments. These objectives are to continue to meet the children’s needs with and through:
1. **Therapeutic effectiveness** ; ensuring that we treat traumatised children safely and effectively through our clinically based residential, education, fostering and support services.
2. **Sustainable service growth** ; creating new service capacity and expanding our clinical and management training to develop the next generation of service leaders.
3. **Developing external profile and influence** ; develop our external influence and impact for traumatised children through research, conferences and clinical publications.
We have a five year strategic plan which consists of core strategic tasks, service quality improvements and business developments. We are making significant progress in all areas having completed a large part of the core strategic tasks and service quality improvements. This next two years will be to embed the changes in our clinical and operational practice as we continue on our path of continual improvement.
## **What we achieved in 2024/25**
## **Our People**
We continue to make significant progress within the strategic areas described above. In relation to meeting our objectives to develop our workforce, this year we improved the awareness, attraction and value of the clinical training offered to our staff by clarifying and integrating staff training career progression routes. We launched a new human resources management system which gave staff greater access and control to staff. Our new improved employee benefits portal was launched which enabled staff to access a greater range of support, improving the total reward package to staff.
## **Our Services**
We have continued to make significant progress towards our aim at providing services that represent a single integrated approach to therapeutic care, education and treatment. All of our therapeutic residential services and our school have all achieved ‘Good’ or ‘Outstanding’ ratings from Ofsted. We have improved our referral and matching process to enable us to ensure that the services we provide are tailored to the children and young people most in need of them. Our therapeutic special school continues to support our children and young people with achieving their educational potential with children sitting their GCSE’s and applying for college placements.
IiST Annual Report and Accounts 2024/25 **Trustees’ Report (continued)**
3
## **Our Future**
We continue to lay the important foundations to meet our future aspirations in developing our services to reach more children who require specialist therapeutic services. To achieve this we continue to improve the structures, systems, standards and regulatory requirements to ensure a consistent approach and application of our service.
We are developing new business plans to expand our services to develop an expanded model of care, therapy and education in Norfolk that is consistent with the model in Kent and to build more capacity across the age groups of all the children and young people we serve.
## **Financial Review and the Results for the Year**
Through a planned simplification of the group structure, the two trading subsidiaries, Childhood First (South) and Childhood First (East Anglia) were closed in the year and the activities of the group rolled into the main charity. This has had no impact on the consolidated summary of the accounts except in that that all the trading activity is accounted for in the single entity.
## **Income and expenditure**
We made a surplus this year of £569k for the year (2024: £908k). This was made up of income of £11,613k (2024: £10,875k) generated mostly from the placement of children in our residential care homes. Average placements increased to 34.4 from 33.4 (86% occupancy (2024:83.55%) which together with price rises on new placements, generated additional income of £736k over last year. The increase in surplus was driven mostly by the increase in income but costs also increased by £1,186k or 12% arising mostly from wage inflation and a reduction in staff vacancy rates.
## **Cash position**
Our cash position reduced as we moved surplus funds to investments.
## **Investments**
Our investments increased in the year from £5,814k to £6,938k. We also amended our investment policy during the year as follows:
- To protect the capital value of our investments in real terms, i.e. at least in line with inflation measured over the long term (defined as 5-7 years).
- To ensure that our investments will be managed by Fund Managers.
- To ensure that funds are sufficiently diversified to both protect against downside risk and allow for upside opportunity.
- For Finance Committee to review and report on the performance of our Fund Managers and our holdings twice a year.
Our prime ethical consideration is to avoid any conflict of interest between the charity’s objectives and the activities of any company in which the charity has invested. Trustees may not apply their own personal ethical criteria to the Childhood First’s investment policies, but can employ ethical criteria where these can be shown to be linked to its general work.
Finance Committee review our investment strategy twice a year in the light of capital spending plans to ensure that we are taking an appropriate view of our liquidity needs and the investment horizon of our holdings, and at other times as appropriate.
IiST Annual Report and Accounts 2024/25 **Trustees’ Report (continued)**
4
## **Financial reserves**
Our financial reserves increased from £11,973k to £12,543k, of which £5,834k (2024: £10,663k) are general reserves and £6,683k (2024:£12,309k) are designated. Designated reserves are those allocated to the value of fixed assets or are set aside for planned business developments. There are also restricted reserves of £25k. The Trustees’ reserve policy is to achieve and maintain an appropriate but not excessive level of general reserves to support its activities, taking into account the risks to which it is exposed:
- to provide working capital to manage fluctuations in its cash flow;
- to provide protection against a serious disruption to its communities and a buffer for unexpected events, such as emergencies or an unplanned closure of services;
- to provide protection against a decline in the market for our services; and
- to provide for the strategic improvement in the quality of our service quality.
## **Risk and Uncertainties**
Trustees have assessed the major risks to which the charity is exposed and believe that systems and controls are in place to mitigate our exposure. Our major risks and the actions which we take to mitigate them further include:
- Failing to comply with data protection regulations and governance structures. Our current controls are that a DPO was appointed and registered by the ICO following a full external review of the organisations GDPR compliance.
- Failing to comply with our policies and procedures. Our current controls are that our policies are kept under review and are available to all staff, and there is close management of all new staff through the induction process. Interview process makes obligations clear and there is regular supervision of staff.
- Failing to comply with health and safety regulations. Our current controls are that health and safety processes are established and reviewed by community directors and senior management and all accidents and injuries are logged and notified.
- Loss, harm or damage due to uncontrolled changes to the school provision in one of our regions. Our current controls are discussions are ongoing and legal advice has been obtained to prepare for a loss of school places.
- Failure to comply with employment legislation and safer recruitment checks. Our current controls are that there are robust recruitment processes in place ensuring that all staff are vetted including DBS checks for all staff.
- Loss of business continuity as a result of migrating IT structures and systems to integrated cloud based systems. Our current controls are Cyber security in place across our infrastructure including MFA. Back-up systems are in place as part of business continuity plans and our IT support service is on hand to manage IT systems and security.
- Loss, harm or damage due to key members of senior staff being absent due to illness or other unplanned or unexpected event. Our current controls are regular supervision protocols including external clinical supervision and private medical insurance offered to senior staff.
IiST Annual Report and Accounts 2024/25 **Trustees’ Report (continued)**
5
## **Structure, Governance and Management**
## **Governing document**
The Institute of Integrated Systemic Therapy is a private charitable company limited by guarantee (a company without share capital). It was incorporated on 22nd March 1983 as the Peper Harow Foundation and registered as a charity on 12th May 1983. It changed its name to Childhood First on 16th July 2008.
To reflect its special status as a training organisation, it changed its name to the Institute of Integrated Systemic Therapy on 28 September 2015. It is governed by memorandum and articles of association which were last amended on 24th November 2004. It continues to trade under the name Childhood First.
The objects of the charity, as laid down in the Memorandum of Association, are to promote and further the care, treatment and rehabilitation of children and adolescents who are psychologically and emotionally disturbed and to promote fuller understanding and knowledge of the causes of psychological and social disturbance and ways in which the causes may be reduced or their consequences ameliorated.
The charity believes it remains compliant with the Charity Governance code.
## **Recruitment and appointment of Trustees**
Trustees are recruited through a new independent process. The sensitivity and risks of the work, and our systemic understanding of therapeutic psychodynamics, mean that all Trustees are thought about very carefully before invitation to join the Board. All Trustees are required to retire from office by rotation and are eligible for re-election every three years.
## **Trustee induction and training**
On joining, Trustees are given an induction pack and are invited to meet with the Chief Executive and senior staff for a full briefing and discussion about the work of the Charity. They also visit one or more therapeutic communities. Trustees will have been recruited for their skills, knowledge and experience. Training is arranged on an individual basis where additional skills are needed for specific functions.
## **Organisational structure**
The Articles provide for between five and fifteen Trustees; there are currently nine. Each Trustee is expected to add significant value to the beneficiaries. This is normally through their knowledge, expertise, experience or influence, but can include their ability to provide financial or material support, or their network of other people willing to provide such support. The Trustee Board aims to include members with a range of expertise, including clinical and social work, education, child and family law, business, management, fundraising, marketing and campaigning.
The Board of Trustees meet every quarter. During the year, there have been a number of sub-committees which met quarterly, chaired by Trustees but with additional external members with relevant experience. In addition, we have local support groups for fundraising led by Sarah Scarratt (Kent) and Trish Phillips (Norfolk). The Development Board has been set up with the purpose of fundraising for future developments.
All Trustees give their time voluntarily and do not receive any material benefits from the charity. We would like to thank all those involved for the time and expertise they provide to the charity.
## **Management and core activities**
The Board of Trustees is responsible for the strategic direction and policy of the charity. It has delegated the day-to-day running of the organisation to the Senior Leadership Team led by the Chief Executive.
Our core activities are centred on the work of the following five residential therapeutic communities:
- Greenfields House, Kent, for up to ten children aged 5 to 12. The children are educated at Greenfields School, which also has places for day pupils;
- Gables House, Kent, for up to eight children aged 10 -16. The children are educated at Greenfields School or onsite;
- Earthsea House, Norfolk, for up to eleven children aged 5 to 14. Education is provided on an adjacent site; and
- Merrywood House, Norfolk, for up to eight children aged 11 to 17. Children are educated externally.
- Oakwood, Kent for up to four children aged 11 to 17. Education is provided at Greenfields School or onsite.
IiST Annual Report and Accounts 2024/25 **Trustees’ Report (continued)**
6
The residential communities provide integrated programmes of care, education and treatment to children and young people of various ages who have experienced severe emotional trauma. Placement and Family Support is also provided as part of the core services.
The basic operational expenditure is primarily supported by a Local Authorities paying an agreed fee for the children placed at the residential communities.
## **Remuneration Policy**
The remuneration of the staff is set by the Chief Executive in discussion with the Trustees and the remuneration of the Chief Executive is set by the Chair.
## **Our Approach to Fundraising**
Our operating expenditure is primarily supported by Local Authorities paying an agreed fee for the children placed at the residential communities. However, such funding is not sufficient to cover all our growth and development plans, research and training, and other initiatives that enhance the lives of the children. Voluntary and grant funding is therefore essential to the sustainability and development of our work and our ambition to increase the number of children and families we can support.
Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. Although we do not undertake widespread fundraising from the general public, the legislation defines fund raising as “soliciting or otherwise procuring money or other property for charitable purposes.” Such amounts receivable, are presented in our accounts as “voluntary income” and include legacies and grants. In relation to the above we confirm that all solicitations are managed internally, without involvement of commercial participators or professional fund-raisers, or third parties. The day to day management of all income generation is delegated to the executive team, who are accountable to the trustees.
## **Public Benefit**
Children are referred to our residential communities from all over the UK. Our work with the children is intensive and specialised in nature because of the levels of childhood trauma that have been experienced. For this reason the number of children and young people who directly benefit from our work each year is relatively small.
Each child, however, represents a major investment of time and public resources. Without successful treatment, these children are likely to continue to demand substantial resources from social, health and justice systems throughout their lives, to impact adversely the lives of many other children and adults and to pass on similar needs to their own children. Thus the number of people who benefit from our work, directly and indirectly, is substantial.
The opportunity to benefit from our work is open to all those who are eligible, as identified by the appropriate Local Authority and mental health services, and all those whom we assess can benefit from the services. As the cost of each placement is met by the Local Authorities, no child or young person is denied the opportunity to benefit on account of their own, or their family’s inability to meet any fees due.
The specialist nature of our service and our unique and successful approach based on five decades of experience, research and clinical development, allows us to influence national policy, service provision and relevant professions widely on behalf of children and young people we serve. This is a further way we believe the charity provides a public benefit.
IiST Annual Report and Accounts 2024/25 **Trustees’ Report (continued)**
7
## **Statement of Responsibilities of the Trustees**
The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees’ Report (including the Strategic Report) and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charity and of the incoming resources and application of resources, including the income and expenditure, of the group and charity 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 applicable Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Financial statements are published on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity’s website is the responsibility of the trustees. The trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.
## **Disclosure of Information to Auditors**
All of the current Trustees (who are the directors of the company) have taken all the steps that they ought to have taken to make themselves aware of any information needed by the Charitable Company’s auditors for the purpose of their audit and to establish that the auditors are aware of that information. The Trustees are not aware of any relevant audit information of which the auditors are unaware.
The Trustees’ Report (including the Strategic Report) was approved by the Trustees and signed on their behalf by:
Dr Henrietta Hughes OBE **Chair of trustees**
9 December 2025
IiST Annual Report and Accounts 2024/25 **Independent Auditor’s Report**
8
## **Independent Auditor’s Report**
## **Opinion**
We have audited the financial statements of The Institute of Integrated Systemic Therapy for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the group and parent charitable company’s Balance Sheets, the Consolidated Cash Flow Statement and 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 group’s and of the parent charitable company’s affairs as at 31 March 2025 and of the group’s and parent charitable company’s net movement in funds, including the income and expenditure, 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 group 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 group’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 Trustees’ Annual Report. 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.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Annual Report (which includes the strategic report and 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 strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.
IiST Annual Report and Accounts 2024/25 **Independent Auditor’s Report**
9
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and 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 by the parent charitable company; or
- the parent charitable company 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.
## **Responsibilities of trustees for the financial statements**
As explained more fully in the trustees’ responsibilities statement set out on page 9 the trustees (who are also the directors of the charitable company for the purposes 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 group’s and the parent charitable company’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 group or the parent 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**
We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder
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:
Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011, Charities SORP (FRS102), Companies Act 2006 and payroll taxes.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and the recognition of income. Audit procedures performed by the engagement team included:
- Enquiries of management regarding correspondence with regulators and tax authorities;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Reviewing the controls and procedures of the charity, particularly in relation to the recording of income and processing of payments and payroll, to ensure these were in place throughout the year
- Evaluating management’s controls designed to prevent and detect irregularities; and
- Reviewing and testing journal entries made in the year, particularly those made as part of the year-end financial reporting process.
-
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation
IiST Annual Report and Accounts 2024/25 **Independent Auditor’s Report**
10
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **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 Auditor's 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.
Steven Harper (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of HaysMac LLP, Statutory Auditors London EC4R 1AG
Date 17 December 2025
IiST Annual Report and Accounts 2024/25 **Financial Statements**
11
## **Consolidated Statement of Financial Activities**
## for the Year Ended 31 March 2025
|**Notes**
**Unrestricted**
**Restricted**
**Endowm’t**
**£**
**£**
**£**
**Income**
Donations and legacies
128,752
45,324
-
Charitable activities
11,308,998
-
-
Investments
123,213
-
-
Other
6,354
-
-
________
________
________
**Total income**
**11, 567,317**
**45,324**
**-**
________
________
________
**Expenditure**
Raising funds
89,057
-
-
Charitable activities:
-
Therapeutic residential care
10,417,557
43,682
-
Training
517,142
-
-
________
________
________
**Total expenditure**
2
**11,023,756**
**43,682**
**-**
________
________
________
Net income before investment gains
543,561
1,642
-
Gain / (loss) on Investments
24,172
-
-
________
________
________
**Net income**
**567,733**
**1,642**
**-**
Transfers
483,947
-
(483,947)
________
________
________
Net movement in funds
1,051,680
1,642
(483,947)
Total funds brought forward
**11,465,775**
**23,530**
**483,947**
________
________
________
**Total funds carried forward**
**12,517,455**
**25,172**
**-**
|**Total**
**£**
174,076
11,308,998
123,213
6,354
__________
**11,612,641**
________
89,057
10,461,239
517,142
________
**11,067,438**
________
545,203
24,172
________
**569,375**
-
__________
569,375
**11,973,252**
__________
**12,542,627**
|**2024 Total**
**£**
268,977
10,476,359
119,203
10,693
__________
**10,875,232**
________
147,239
8,905,973
828,211
________
**9,881,423**
________
993,810
(85,649)
________
**908,161**
-
__________
908,161
**11,065,090**
__________
**11,973,250**
|
|---|---|---|
The Statement of Financial Activities incorporate the income and expenditure account and includes all recognised gains and losses in the current and prior year. Further detail on the 2024 comparatives are shown in Note 16a.
The notes 1 to 16 form part of these financial statements.
IiST Annual Report and Accounts 2024/25 **Financial Statements**
12
## **Consolidated and Company Balance Sheet** as at 31 March 2025 Company number 01708301
|||**Group**|**Group**|**Company**|**Company**|
|---|---|---|---|---|---|
|||**2025**|**2024**|**2025**|**2024**|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|7|4,756,393|4,881,187|4,756,393|4,016,366|
|Investments|8|6,938,504|5,814,332|6,938,504|5,814,332|
|||________|________|________|________|
|||11,694,897|10,695,519|11,694,897|9,830,698|
|||________|________|________|________|
|**Current assets**||||||
|Debtors|9|489,981|393,861|489,981|86,151|
|Cash at bank||1,010,835|1,502,234|1,010,835|1,414,675|
|||________|________|________|________|
|||1,500,816|1,896,095|1,500,816|1,500,826|
|**Creditors**||||||
|Amounts falling due within one year|10|(653,086)|(618,363)|(653,086)|(7,420,839)|
|||________|________|________|________|
|Net current assets/(liabilities)||847,730|1,277,732|847,730|(5,920,013)|
|||________|________|________|________|
|**Total assets less current liabilities**||12,542,627|11,973,251|12,542,627|3,910,685|
|||________|________|________|________|
|**Net assets**||**12,542,627**|**11,973,251**|**12,542,627**|**3,910,685**|
|||________|________|________|________|
|**The funds of the charity**||||||
|Unrestricted funds||||||
|- General reserves||5,834,043|10,663,581|5,834,043|3,108,492|
|- Designated funds|12|6,683,412|802,193|6,683,412|802,193|
|||________|________|________|________|
|Total unrestricted funds||12,517,455|11,465,774|12,517,455|3,910,685|
|Restricted funds|11|25,172|23,530|25,172|-|
|Endowment funds|13|-|483,947|-|-|
|||________|________|________|________|
|**Total charity funds**|15|**12,542,627**|**11,973,251**|**12,542,627**|**3,910,685**|
|||________|________|________|________|
The financial statements were approved and authorised for issue by the Trustees on 9 December 2025 and were signed on its behalf by
Dr Henrietta Hughes OBE **Chair of Trustees**
The notes 1 to 16 form part of these financial statements.
The surplus for the Institute of Integrated Systemic Therapy was £569,375 (2024: deficit £1,616,338).
IiST Annual Report and Accounts 2024/25 **Financial Statements**
13
## **Consolidated Cash Flow Statement**
## For the year ended 31 March 2025
|**Notes**
**Cash flow from operating activities**
Net income for the reporting period
Depreciation
(Gains) / losses on investments
8
(Profit) / loss on fixed assets
(Increase) / decrease in debtors
10
Increase / (decrease) in creditors
11
**Net cash generated from operating activities**
Proceeds from sale of investments
Purchase of investments
Purchase of property, plant and equipment
Proceeds from sale of property
**Net cash (used in) financing activities**
**Change in cash in reporting period**
**Cash at beginning of year**
**Cash at end of year**|**2025**
**£**
567,619
165,181
(24,172)
(5,684)
(96,317)
36,479
**643,106**
2,200,000
(3,300,000)
(44,305)
9,800
**(1,134,505)**
**(491,399)**
**1,502,234**
**1,010,835**|**2024**
**£**
910,674
177,875
85,649
1,552
73,482
(633,429)|
|---|---|---|
|||**615,804**|
|||-
(2,000,000)
(33,930)
-|
|||**(2,033,930)**|
|||**(1,418,126)**
**2,920,360**|
|||**1,502,234**|
The notes 1 to 16 form part of these financial statements.
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
14
## **Notes to the Financial Statements**
## **1 Accounting policies**
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the consolidated financial statements.
## a) Basis of preparation
The Institute of Integrated Systemic Therapy is a charitable company incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given in the Reference and administrative detail page and the nature of the charity’s operations and its aims and objectives are set out in the Trustees report. The financial statements have been prepared under the historic cost convention as modified by the valuation of investments and defined benefit pension schemes in accordance with the Accounting and reporting by Charities: Statement of Recommend Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS102).
## Judgement and key sources of estimation uncertainty
The trustees are satisfied that there are no material judgements and estimates used in the production of the financial statements.
## Basis for consolidation
The consolidated accounts include the financial statements of the Institute of Integrated Systemic Therapy (‘IiST’) and its subsidiary undertakings, Childhood First (East Anglia) Limited and Childhood First (South) Limited All of these charitable companies are incorporated in England and Wales. Through a planned simplification of the group structure, the two trading subsidiaries and Princess Mary’s Trust, of which Institute of Integrated Systemic Therapy was the sole trustee. were closed in the year and the activities of the group rolled into the main charity. This has had no impact on the consolidated summary of the accounts except in that that all the trading activity is accounted for in the single entity.
In accordance with the provisions of the Companies Act 2006 the parent charity is exempt from the requirement to present its own profit and loss account. The total incoming resources from the parent charitable company for the year was £11,612,641 (2024: £1,683,866). The result for the parent charitable company, including unrealised surpluses on investments for the year was a £569,375 surplus (2024: £1,616,338 deficit).
## b) Fixed assets and depreciation
## It is the charitable company’s practice to maintain freehold buildings in a continual state of sound repair.
From the commencement of 2015-16 depreciation has been charged on the building element of the asset. In addition, the Board of Trustees carries out an impairment review every year. If those reviews show that the book value of a property falls below both its net realisable value and its value in use, then an impairment charge will be recognised to reduce its carrying value to the lower amount.
Fixed assets are stated at cost less depreciation. Items costing less than £1,000 are not capitalised. Depreciation is provided to write off the cost of each asset over its estimated useful economic life by equal annual instalments as follows:
Freehold Buildings 2% Furniture, fittings, tools and equipment 10% - 33% per annum Motor vehicles 25% - 33% per annum
## c) Leases
Where assets are financed by leasing agreements that give rights approximating to ownership ('finance leases'), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the statement of financial activities.
Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the statement of financial activities over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.
All other leases are treated as operating leases. Their annual rentals are credited to the statements of financial activities on a straight line basis over the term of the lease.
Annual rentals are charged to the statement of financial activities on a straight-line basis over the term of the lease.
## d) Income and expenses
- Expenses, rental income, investment income, interest receivable and fees are accounted for on an accruals basis. Donations are accounted for when received or receipt is probable. Legacies are accounted for when received or if, before receipt, there is sufficient evidence as the probability of the receipt and value of the legacy. Grant income received is deferred to future accounting periods to the extent that the conditions for its receipt have not yet been met. Fee income is recognised in line with the delivery of the related service, with fee income spread evenly over the period of a child’s placement. Payments received in advance of the associated placements are deferred.
## e) Allocation of expenses:
- costs of generating funds comprise the costs associated with attracting voluntary income;
- charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them; and
- support costs are allocated on the basis of staff numbers.
## f) Investments
- Listed investments are included in the balance sheet at market value. Realised gains and losses on the sale of investments and unrealised gains and losses on the revaluation of investments are included in the statement of financial activities.
## g) Funds:
- Unrestricted funds
These represent funds which can be expended as the Trustees see fit, in accordance with the charitable objects of the group. These are further split into designated funds, which represent the fixed property assets, the pension reserves, representing the pension deficit, and general reserves.
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
15
## **1 Accounting policies** (continued)
- Restricted income funds
- These represent income received which can only be expended for the purpose specified by the donor.
- Permanent Endowment fund
This represented assets donated which were to be held as capital and not converted to income.
## h) Pension costs
- a number of employees belong to the Teacher’s Pension Scheme, which is a defined benefit scheme. It is not been possible to identify the group’s share of the underlying assets and liabilities in the scheme on a consistent and reasonable basis, and contributions have been charged to the income and expenditure account as they are paid;
## i) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## j) Cash and cash equivalents
- Cash and cash equivalents are near cash items with a similar risk profile to cash and can be accessed within three months.
- k) Going concern
- The Trustees have considered the matter of going concern and believe that the charity remains a going concern for the following reasons:
- There remains a high demand for our residential service and we operate close to or above 80% of our current capacity.
- • Our fees are structured so that they deliver a surplus.
- We do not face a counterparty debt risk as all customers are Local Authorities.
- We do not rely on fundraising income to cover our operational costs.
- We have a successful track record of recruiting and training staff to deliver our service.
- We retain adequate reserves to meet our reserves requirement.
- The organisation has successfully adapted key processes (e.g. training, financial management) to the new business environment.
- It has a new but experienced management and, because of its overall size, can adjust quickly to changing conditions.
- There is a relatively high level of reserves and liquidity to ensure the charity can both make strategic developments and settle its debts as they fall due over the next twelve months.
Trustees are satisfied that there are no material uncertainties related to events or conditions that cast significant doubt upon the Charity and Group’s ability to continue as a going concern.
## **2 Analysis of total expenditure**
|**Basis of allocation**
**Costs directly allocated to activities**
Direct staff costs
Direct
Care costs including travel
Direct
Premises costs
Direct
IT, admin and professional fees
Direct
Total
Support costs allocated
Staff
time
**Total expenditure**|**Therapeutics**
**Residential**
**care**
**Training**
**Fundraising**
**2025**
**Total**
**2024**
**Total**
**£**
**£**
**£**
**£**
**£**
7,934,874
368,442
-
**8,303,316**
**6,821,739**
1,104,293
65,424
7,287
**1,177,004**
**1,160,581**
751,078
-
18,492
**769,570**
**429,894**
802,011
5,757
9,780
**817,548**
**150,126**|
|---|---|
||10,592,256
439,623
35,559
**11,067,438**
**8,562,340**|
||(131,019)
77,520
53,499
**-**
**1,317,326**|
||**10,461,237**
**517,143**
**89,058**
**11,067,438**
**9,879,666**|
Further details on comparatives are shown in note 16b.
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
16
## **3 Net income**
|Net income for the year is stated after charging:
Auditor’s remuneration: Group
Depreciation of tangible fixed assets
Rentals payable under operating leases:
Land and buildings
Other
Trustees’ professional indemnity insurance|**2025**
**£**
**30,509**
**165,181**
**71,125**
**42,159**
**2,950**
**________**|**2024**
**£**
**37,200**
**177,875**
**165,675**
**29,558**
**2,580**
_______|
|---|---|---|
## **4 Staff numbers and costs**
The average number of persons employed by the group during the year was 206 (2024: 186). The aggregate payroll costs of these persons were as follows:
|Wages and salaries
Social security costs
Other pension costs|**2025**
**£**
**6,886,219**
**674,048**
**403,570**
**_________**
**_**
**7,963,837**
**_________**|**2024**
**£**
**6,102,086**
**583,911**
**306,415**
**________**
**6,992,412**
_________|
|---|---|---|
Key management personnel in the Senior Leadership Team are seven (2024: seven). Their total employment costs for the year (including employer’s National insurance contributions and pension) was £707,989 (2024: £522,820).
The number of employees whose emoluments for the year were greater than £60,000 fell within the following ranges:
|||**2025**|**2024**|
|---|---|---|---|
|£60,001|- £70,000|**5**|**2**|
|£70,001|- £80,000|**-**|**3**|
|£80,001|- £90,000|**2**|**1**|
|£90,001|- £100,000|**1**|**-**|
|£100,001|- £110,000|**-**|**-**|
|£110,001|- £120,000|**1**|**1**|
No payments or remuneration were made to the Trustees during the year. Reimbursement of expenses incurred when travelling to, or engaged upon, the business of the charity amounted to £914 (2024: £306).
## **5 Related party transactions**
The Institute of Integrated Systemic Therapy (registered charity number 286909) was the sole member of Childhood First (East Anglia) Limited and Childhood First (South) Limited. All these are companies limited by guarantee. It was also the sole Trustee of Princess Mary’s Trust. These companies have all now been dissolved as planned and no management charges were applied. The intercompany balances were all zero as the activities of the related parties were all rolled into IiST by 31[st] March 2025.
The following balances were transferred in the year; CF (East Anglia) £7,594,209, CF (South) £4,147,597 and Princess Mary’s Trust £21,073.
## **6 Pensions**
## **(a) Teacher’s Pension Scheme**
A number of the charitable company’s employees are members of the Teachers’ Pension Scheme (TPS). The TPS is a statutory, contributory defined benefit scheme administered by the Teacher’s Pension Agency, an executive agency of the Department for Education and Employment.
Not less than every four year, with a supporting interim valuation in between, the Government Actuary (GA), using normal actuarial principles, conducts a formal actuarial review of the TSS. The aim of the review is to specify the level of future contributions.
Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits an many other factors. The last valuation of the TPS was as at 31 March 2020. The valuation report was published by the Department of Education on October 2023, with the SCAPE rate, sent by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The value of notional assets (estimated future contributions together with the proceeds from the notional investments held at the valuation date) was £222 billion and the scheme had aggregate liabilities of £262 billion, leaving a notional past service deficit of £39.8 billion.
The Employers scheme contribution is set at 28.68% of pensionable pay (including a 0.08% administration levy). This is an increase of 5% in employer contributions and the cost control result is such that no change in member benefits is needed.
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
17
## **Teacher’s Pension Scheme (continued)**
Total pension costs during the year were £78,634 (2024 - £42,256). There were outstanding contributions of £9,073 due at the end of the financial year (2024 - £5,632).
Under the definitions set out in FRS 1012, the TPS is an unfunded multi-employer pension scheme. The Group is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the Group has taken advantage of the exemption of FRS102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme.
## **(b) Group Personal Pension Plan**
A Group Personal Pension Plan exists for employees which is a defined contribution scheme.
The pension charge for the year represents contributions payable by the group to the fund and amounted to £324,931 (2024 - £263,810). There were outstanding contributions of £60,793 due at the end of the financial year (2024 - £44,028).
The charity used to participate in a defined benefit scheme which was exited last year and the closing liability was settled.
## **7 Tangible fixed assets (group and company)**
|**Group**|**Freehold**
**properties**|**Furniture and**
**equipment**|**Motor vehicles**|**Total**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**Cost**|||||
|At 1 April 2024|5,534,579|396,254|162,271|6,093,104|
|Additions|-|-|44,305|44,305|
|Disposals|-|-|(11, 399)|(11,399)|
||________|________|________|________|
|At 31 March 2025|5,534,579|396,254|195,177|6,126,010|
||________|________|________|________|
|**Depreciation**|||||
|At 1 April 2024|749,857|358,184|103,678|1,211,719|
|Charge for the year|101,310|17,432|46,439|165,181|
|Disposals|-|-|(7,283)|(7,283)|
||________|________|________|________|
|At 31 March 2025|851,167|375,616|142,834|1,369,617|
||________|________|________|________|
|**Net book value**|||||
|**At 31 March 2025**|**4,683,412**
|**20,638**|**52,343**|**4,756,393**|
||________|________|________|________|
|At 31 March 2024|4,784,522|38,070|58,595|4,881,187|
||________|________|________|________|
## **8 Fixed asset investments**
**a) Group and Company**
|Balance at 1 April
Additions
Disposals
Gain / (Loss) on revaluation
**Market value at 31 March**|**2025**
**2024**
**Cash funds**
**Investment**
**funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**2,555,217**
**3,259,115**
**5,814,332**
3,899,981
**1,100,000**
**2,200,000**
**3,300,000**
2,000,000
**(2,000,000)**
**(200,000)**
**(2,200,000)**
-
**26,599**
**(2,427)**
**24,172**
(85,649)
__________
__________
__________
__________
**1,681,816**
**5,256,688**
**6,938,504**
5,814,332
__________
__________
__________
__________|
|---|---|
The cash funds are held via Cazenove Capital as are some investment funds whilst others are invested in CF Ruffer Total Return Fund, McInroy & Wood Balanced Fund and CG Portfolio Funds.
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
18
## **Fixed asset investments** (continued)
## **b) Subsidiary undertakings**
The legal entities which have been included in the consolidated financial statements, all of which were dormant at the financial year end and their activities rolled into IiST were:
|||_Subsidiary_|_Country of_|_Proportion of_|_Proportion of_|
_Share capital held_|
_Share capital held_|
_Share capital held_|_Nature of_|
|---|---|---|---|---|---|---|---|---|---|
||_Undertaking_||_Incorporation_||_voting_||||_business_|
||||||_rights_|||||
||Childhood First|(South) Ltd|England||100%||Limited by
guarantee||Charity|
||Childhood First|(East Anglia) Ltd|England||100%||Limited by
guarantee||Charity|
||Princess Mary’s|Trust|England||100%||Trust||Charitable Trust|
||**Subsidiary summary results**|||||||||
||||**Childhood First**|||**Childhood First**|||**Princess Mary’s**|
||||**(South) Ltd**|||**(East Anglia) Ltd**|||**Trust**|
|||||**£**|||**£**||**£**|
||Income||6,26,440||||5,132,479||-|
||Expenditure||3,614,554||||3,209,456||-|
||||_________|||________|||_________|
||Surplus / (loss)|for the year|2,611,886||||1,923,022||-|
||Reserves brought forward||1,738,224||||5,772,475||553,623|
||||_________|||________|||_________|
||Reserves carried forward|||-|||-||-|
||||_________|||________|||_________|
||Net Assets|||-|||-||-|
||||_________||||________||_________|
||
**Debtors – due within one year**|||||||||
|||||**Group**||**Group**|**Company**||**Company**|
|||||**2025**||**2024**||**2025**|**2024**|
|||||**£**||**£**||**£**|**£**|
|Trade debtors||||403,060||322,985|403,060||-|
|Amounts owed by group undertakings||||-||-||-|21,074|
|Prepayments and||accrued income||81,121||65,077||81,121|65,077|
|Other debtors||||5,800||5,800||5,800|-|
||||________||________||________||________|
|||||**489,981**||**393,861**|**489,981**||**86,151**|
||||________||________||________||________|
||**0 Creditors: amounts falling due**||**within one**|**year**||||||
|||||**Group**||**Group**|
**Company**||**Company**|
|||||**2025**||**2024**||**2025**|**2024**|
|||||**£**||**£**||**£**|**£**|
|Amounts owed to||group undertakings||-||-||-|7,251,528|
|Trade creditors||||88,268||187,213||88,268|57,113|
|Other creditors||||185,219||108,395||185,219|18,441|
|Taxation and social security||||197,405||151,047||197,405|48,541|
|Accruals||||182,194||171,707||182,194|78,874|
||||________|||________|
________||________|
||||**653,086**
________|||**618,362**
________|
**653,086**
________||**7,454,496**
________|
## **Subsidiary summary results**
## **9 Debtors – due within one year**
## **10 Creditors: amounts falling due within one year**
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
19
## **11 Restricted income funds**
The Group’s restricted funds consist of the following funds:
||**Balance at**
**1 April**
**2024**|**Income for the**
**year**|**Expenditure for**
**the year**|**Balance at**
**31 March 2025**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|General projects|23,530|45,324|(43,682)|25,172|
||_________|__________|_________|_________|
|**Total**|**23,530**|**45,324**|**(43,682)**|**25,172**|
||**_________**|**__________**|**_________**|**_________**|
The reserves are restricted to the location of the communities and / or a particular activity such as a specific building project or service. Comparative information can be found in note 17c.
## **12 Designated funds**
Designated funds which are part of unrestricted funds represent the book value of fixed property assets plus funds of £2m designated for future capital developments. This is a change of basis from last year in which only part of the fixed asset value was designated. The change reflects the commitment to future capital investment.
|Balance at 1 April 2024
**Balance at 31 March 2025**
**Endowment Funds**
Balance at 1 April 2024
Transfer to unrestricted funds
**Balance at 31 March 2025**|**Group**
**£**
802,193
_________
**6,683,412**
_________|_
|**Company**
**£**
802,193
_________
**6,683,412**
_________
**Group £**
483,947
(483,947)
_________
**-**
_________|
|---|---|---|---|
|||||
## **13 Endowment Funds**
The endowment relating to Greenfields House was held in Princess Mary’s Trust. During the year the asset was transferred to the ownership of IiST which was the sole member of Princess Mary’s Trust. This meant that the trust failed for lack of assets and was therefore closed. As the endowment did not transfer with the asset the endowment was therefore released.
## **14 Operating leases**
Total commitments under non-cancellable operating leases at 31 March 2025 were as follows:
|Equipment leases
Property leases
Total|**2025**
2024
**£**
£
42,159
29,558
71,125
165,675
______
______
113,284
195,233
**______**
**______**|
|---|---|
Property leases relate to London office (break Sept 2025), Merrywood House (expired September 2025) and Sittingbourne office (break May 2028). Total property lease payments recognised as an expense in the year are £63,000 (2024: £71,125) due within one year, £8,125 (2024: £63,875) due between 2 to 5 years and £nil (2024: £nil) due in more than 5 years.
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
20
## **15 Analysis of net assets between funds**
||**Unrestricted**|**Restricted**|**Total funds**|
|---|---|---|---|
||**£**|**£**|**£**|
|Tangible fixed assets|4,756,393|-|4,756,393|
|Investments|6,938,504|-|6,938,504|
|Net current assets|822,558|25,172|847,730|
||________|________|________|
|**Total funds**|**12,517,455**|**25,172**|**12,542,627**|
||________|________|________|
## **16 Comparative information relating to 2024**
**a) Consolidated statement of Financial activities**
|**Notes**
**Income**
Donations and legacies
Charitable activities
Investments
Other
**Total income**
**Expenditure**
Raising funds
Charitable activities
Therapeutic residential care
Training
Fostering
**Total expenditure**
2
Net income before investment
gains and (losses)
(Loss) / gain on Investments
**Net income/(expenditure)**
Actuarial (loss) on defined
benefit scheme
6
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**||**2024**||**2023**|
|---|---|---|---|---|
||**Unrestricted**
**£**
108,270
10,476,359
119,203
10,694
________
**10,714,526**
________
147,239
8,710,609
828,211
-
________
**9,685,979**
________
1,028,547
(85,649)
________
**942,898**
-
________
**942,898**
**10,522,875**
________
**11,465,772**
**________**|**Restricted**
**£**
160,707
-
-
-
________
**160,707**
________
-
195,444
-
-
________
**195,444**
________
(34,737)
-
________
**(34,737)**
-
________
**(34,737)**
**58,267**
________
**23,530**
**________**|**Endowm’t**
**£**
-
-
-
-
________
**-**
________
-
-
-
-
________
**-**
________
-
-
________
**-**
-
________
**-**
**483,947**
________
**483,947**
**________**|**Total**
**Total**
**£**
**£**
268,977
251,911
10,476,359
9,691,572
119,203
37,190
10,694
22,733
________
________
**10,875,233**
**10,003,406**
________
________
147,239
204,915
8,905,973
8,881,294
828,211
572,611
-
171,903
________
________
**9,881,423**
**9,830,723**
________
________
993,810
172,683
(85,649)
(124,212)
________
________
**908,161**
**48,471**
-
(114,000)
________
________
**908,161**
**(65,529)**
**11,065,090**
**11,130,619**
__________
__________
**11,973,251**
**11,065,090**
**__________**
**________**|
IiST Annual Report and Accounts 2024/25 **Notes to the Financial Statements**
21
## **16 Comparative information relating to 2024** (continued)
**b) Analysis of total expenditure**
|**Basis of allocation**
**Costs directly allocated to activities**
Direct staff costs
Direct
Care costs including travel
Direct
Premises costs
Direct
IT, admin and professional fees
Direct
Total
Support costs allocated
Staff
time
**Total expenditure**|**Therapeutics**
**Residential**
**care**
**Training**
**Fundraising**
**2024**
**Total**
**2023**
**Total**
**£**
**£**
**£**
**£**
**£**
6,286,550
535,189
-
**6,821,739**
**6,787,945**
1,082,736
64,492
13,353
**1,160,581**
**1,154,832**
417,956
-
11,938
**429,894**
**427,764**
141,965
4,745
3,416
**150,126**
**149,382**|
|---|---|
||7,929,207
604,426
28,707
**8,562,340**
**8,519,923**|
||975,090
223,744
118,492
**1,317,326**
**1,310,800**|
||**8,904,297**
**828,170**
**147,199**
**9,879,666**
**9,830,723**|
## **c) Restricted funds**
|**Balance at**
**1 April**
**2023**
**£**
General projects
58,267
_________
**Total**
**58,267**
_________
**d)**
**Analysis of assets between funds**
**Group**
**Unrestricted**
**funds**
Funds balances at 31stMarch 2024 are represented by:
**£**
Tangible fixed assets
4,397,240
Investments
5,814,332
Current assets
1,872,565
Current liabilities
(618,363)
_________
**Total net assets**
**11,465,774**
_________|**Income for**
**the year**
**Expenditure for**
**the year**
**Balance at**
**31 March**
**2024**
**£**
**£**
**£**
160,707
(195,444)
23,530
__________
________
________
**160,707**
**(195,444)**
**23,530**
__________
_________
_________
**Restricted**
**Permanent**
**Income**
**Endowment**
**Total**
**funds**
**fund**
**Funds**
**£**
**£**
**£**
-
483,947
4,881,187
-
-
5,814,332
23,530
-
1,896,095
-
-
(618,363)
_________
_________
_________
**23,530**
**483,947**
**11,973,251**
_________
_________
_________|
|---|---|
IiST Annual Report and Accounts 2024/25
22
## **Reference and Administrative Detail**
**Charity name:**
**Trading name** :
**Charity registration number:**
**Company registration number:**
## **Registered office and Operational address:**
Institute of Integrated Systemic Therapy
Childhood First 286909 01708301
91-95 Southwark Bridge Road, London SE1 0AX
## **Board of Trustees:**
The Trustees (directors of the company) during the year and since the year-end were:
Dr Henrietta Hughes OBE (Chair)
Mr George Viney Mr Jeremy Brier Ms Rosemary Bodiam Ms Georgia Chataway Mrs Patricia Phillips Mrs Sarah Scarratt Mr Sanjay Shah Mr Gary Etheridge - appointed 9[th] December 2024 Ms Anna Dinh - appointed 9[th] December 2024
## **Chief Executive**
Gary Yexley
## **Company Secretary**
Michael Joseph
## **Senior Leadership Team**
Gary Yexley (Chief Executive) Robyn Bartram (Deputy Chief Executive Michael Joseph (Finance & Corporate Services Director) Dan Lansley (Business Development Director) Bob Beardon (Director of Workforce Development) Rachel Sillis (Residential Services Director) – appointed 30[th] June 2025
The senior leadership team were all in post at 9th December 2025 except as detailed above
## **Auditors**
HaysMac LLP, 10 Queen St Pl, London EC4R 1AG
## **Principal Bankers**
Coutts & Co, 440 Strand, London WC2R 0QS
## **Solicitors**
Rradar, 6 Beacon Way, Hull HU3 4AE.