Regl8t•red number: 02629347
Charlty numbor: 1004963
THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlt•d by Guarantse)
DIRECTORS. REPORT AND FINANCIAL 8TATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

THE CHARTERED INSTrruTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlled by Guarantee)
CONTENTS
Page
Refor•nc• and Administratlv• Detall• of tho Company, Its Patron, Pr•8ld•nt,
Imm•diat• Past Pr•sid•nt and Vic• Pre•id•nt• and Advlieri
Chalrman'8 8tat•m•nt
Dlr•ctor•' R•port
5-10
Indop•nd•nt Audllorf• R•port on th• Fln•nclal Stat•m•nt8
8tat•m•nt of Fln¥n¢l•l Actlvltl•s
15
Balanc• Sh••t
16
Stat•m•nt of Ca•h Flo
17
NotM lo th• Flnanclal Stat•m•nt•
18-38

THE CHARTERED INSTITUTE OF LOGISTICS AMD TRANSPORT IN THE UK
(A Company Llmlt•d by Guarant••)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, rrs PATRON, PRESIDENT,
IMMEDIATE PAST PRESIDENT AND VICE PRESIDENTS AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Patron, Prn•ldonl,
lfflm•dlato Past PT•8ld•nt
and Vlc• Pr•8ld•nts
HRH Tho Prlnce88 Royal, Patron
L Danle15, OBE, FCILT, Pre81dent from 1 January 2023
S Gooding. FCILT. President to 31 December 2022
D Aexander, FCILT, C8E, Vice President
8 Bell. FCILT, CBE, Vlce President
Lord T 8erkeley, FCILT, Vice Pre8ldenl
L Danle13, OBE, FCILT. Vice President lo 31 December 2022
E Gilliard, FCILT, Vice Pre81denl
L Hardlng, FCILT, Vlce President
N Mlcklelhwaile. FCILT, Vlce Presldenl
Ar Vlce Marsh811 R Pralley, FCILT, Vlce Pre8i(lenl
J Sahola. FCILT. Vlce President
P Sainlhouse, FCILT, Pre8idenl
Lord P Snape, FCILT, Vice President
W Whltehorn, FCILT, Vlce Presldent
Anna Whllly, FCILT, Vlce Pre3idenl from 19 Aprll 2023
Dlreclors and Trustees
A B Jonè8, FCILT, Dlreclor, Chalrman, (to 25 May 20231
V K Singla, FCILT, Dlrector, Chairman lfrom 25 May 20231
S Bennott, FCILT, Dlrector Ire8igned 17 December 2023)
D Bèrmingham, FCILT, Director
A Botham, FCILT, Dlrector
D Clamp, FCILT, Director
M L Gllbert, FCILT, Director (resigned 25 May 2023)
A-J Hunter, FCILT, Director
P W Le Blond, FCILT. Dlrector
D J Pugh, MILT, Director
P Roe, FCILT, Olr8Ctor
E M Ross, CMILT, Director (resigned 25 May 2023)
Dr S L Shaw, FCILT. Director
Company roglst•rod
number
02629347
Charlty r•giSt•r•d numb•r 10Q4963
R•gist•rod offic•
3 - 4 Ead$lree$ Court
Eadstrees Road
Corby
Northamplonshi
NN17 4AX
Page 1

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlt•d by Guaranteo)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS PATRON, PRESIDENT,
IMMEDIATE PAST PRESIDENT ANO VICE PRESIDENTS AND ADVISERS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Company S￿r•lary
A J WealherS11, FCA. FCILT
Chl•f Ex•cutlv•
S Klndleyslde5, FCILT (to June 2023)
A J Wealherlll. FCA, FCILT Ilnlerfm - June 2023 to Oecamber 2023}
P Adams (from DvAmber 20231
Ind•pondont audltor
Mazar8 LLP
Chartered Accountants
90 Vlctoria Street
Brlslol
BS16DP
Bank•r•
Barclay8 P
497 Silbury Boulevard
Milton Keyne8
MK9 2LD
8ollcltorB
Stone King LLP
Boundary Hou8e
91 Ch8rterhou8e Street
London
EC1M 6HRS
InvMtm•nt manag•rn
Investec Wealth and Investment Managgment Ltd
30 Gresham Street
London
EC2V 7QN
Page 2

THE CHARTERED INSTITUTE OF LOGISTICS ANO TRANSPORT IN THE UK
(A Company Limlt•d by Guarant••)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBeR 2023
The Chalmian presents hls ststernent fc* the year.
De8pile navlgallng uncertalnll88. we have achieved 5ignrf4canl milestones over the past year. Our commitment
to our core values and purpose of prof8$sionali3ing the wofession remains unwavering, and we continue lo
uphold the hlgh 8landards our profession demands.
This past year we have focussed on puttlng In place golld foundatlon8 to enable a future of sustalnable growth,
lo dellver our ch8ritable objects and 10 81renglhen the futu￿ capability of the profession. Through dialogue and
Informed by a comml88ioned piece of market research we have achieved collective agreement on how lo reach
our goal8 through three areas of delivery allgne(I to our valuos..
Collal)orate and bulld strong and benellclal r•latlon8hlp•= enable posllive an¢J long lasllng mutually
beneficial relationships across our cornmunlty whlch incr&ase professional lulfillmenl through effectSve dellvery
of value lo organisalions and indlvldual8.
Shap• and d•llvor prof•sslonal producti and ••rvlcM: enhance the capability and knowledge of Indlvlduals
an(1 organisalions through a focused 8utte of prof88slonal products and 68rvi¢es that are recognised and
requested by the profe88ion and add value lo members and Ihelr career8.
Sharo Inslght and ampllfy Impact: Empower and facilitate impa¢l through the provisSon of thought lea¢Jership.
technical guidance. knowledge and an effective markellng and communications slralegy.
Through continuing work already in progress and wllh the introduction of new areas of focus, our methods lo
deliver our 8tralegic aims and goa18 have been defined through ¢ollabor8lion. Collaboration with the leadership
and operational teams acro88 the In81ilule, as well as through Consideration of valuable feedback from our
members, communiti88 and markel rasearch whtch underpin8 our methods of delivery. I look forward to building
on this work In 2024.
There have been a numb8r of changes In key staff during the year in¢luding the resignation of Sharon
Kindleysid8s, who has been replaced by Paul Adams as Chief Executive Officer. I would like lo thank Sharon
for the contrlbullon she made during her time wlh us. Also thanks lo Alan Jones, my predece880r as Chair, who
has helped lo support me though my first few month8 in post.
I welcome tho ongoing 8ucee88 of Generation LOgIst￿S. whtch exceeded the majortty ol Ils Year 1 target8,
achwing 822 million opportunities lo see Itargel: 600 million). 789.000 hrts to the web81te It8rget= 600,0001 and
increased sentiment about the logistics sector by 170% Itargel.. 40%).
Generation Lo
islics has made a stron
Year 2 focus is on 13-24
ear olds.
Individual mgmbeTship has had a solid year maintaining a level of 13,000 boosted by CPC learners who afe
provided with e membership as part of their Qualrfication enrolmenl. Corporate Membership has continued lo
delNer growth arKI our approach lo working with organisational partners is evolving lo further enhance thi5
offering.
Women in L(>Jislics confe￿nce was a highlight of tho 2023 events calendar, with 91 allending physically- arKJ
a long wailing list - and 50 virtually. Hybrid events will be further harnessed in 2024 ensuring best practice is
accessible to members. no matter their location. 2023,5 Logi$lics Research Network ILRN) was the largest i
person LRN yet, attracting 166 delegates, and tho 30th anniversary of the annual Awards proved popular, with
295 in attendance. The Transport Praclilioners Meeting (TPMI remains one our most successful events in the
calendar with 230 attendee$ sharing exPer￿nCeS over tsvo valuable days.
Th8 Education and Professlonal Standards department launched the new Level 3 Practitioner Certrficate in
Logistics and Supply Chain Operations and Level 5 Professional Certfficale in Supply Chain and Operations
Page 3

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limilod by Guaranto9)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Managernent Qualifications with four cohorts now progres9ing through the qualrfullon courses via The Learning
Cenlre. There is already strong interest from organi8ations to use Ih&se qualtficalions as part of Intemal Iralning
programmes and pathways a8 they are aligned to the CILT{UKI Competency Framework. A Level 5 Diploma and
a new Level 6 will be avallable for 8nrolment in early 2024.
The AwarOSng Organisalion has continued to grow and develop new qualifications. CILT{UKI Leamers have taken
7,917 as$es8menl$ on the TMCPC alone. CILTIUKI continues lo lead the industy with CPC certlficallon8. The
AO h8$ laLbnGhed new quallfi¢alions in 2023 (whi181 retiring older ones) and more are In developm8nl.
CILTIAOI Gontlnue8 to ac¢redlt other organi8allon'8 8P8clali81 qua16ficalion8 and recently addeil Unlver81ty
accreditallon to the portfollo.
PTRC is thrlving and in addillon lo TPM 11 Is conllnulng to expand activllies overseas ￿th cour8es delfjvered In
Hong Kong. Slngapore and Dub81.
The In8tllule Is successfulty building 118 PO8lllon as the'lTUSted volce for UK logistics, tran8POrt and moblllty.. Over
150 meellngs have been held with mlnisler¥ and government officials, providing an 88senlial balanced
perspective lo Inform govemment policy making. Over 25 con8ultallon respon8e8 hav8 been made acro38
governmenl. 8 stsnd alone, Influentlal reports have been launched.
Following the ongoing reslru¢turing of the Mark8ling and Communicallons team, there has been a visible
Improvement In the service lo members and colleagues and a po811ive improvement in our Social Medla
presence: Linkedln follower$- 34.500 a 10,¢XIO increase, Twiller follower8 - 12,600 a 10% increase, Facebook
follower8 10,000 a 5% increa88 and the launGh of the new Instagram aGcounl.
Focus magazine 1$ b)Ih physi￿1 and online. The e-new51eller has a circulation of over 10,000 and the website
has over 80,000 page views a month. The Knowledge Centre continues to be a valuable resource and 2,500
members on average aGce$$ the resources on a quartedy ba3iS.
Durlng 2023 a number of digital improvements have been completed including the upgrade of the CRM $y$tem
and a review of GDPR proce88es as well as successfully achieving the Cyber Essentials certifKalion. Work lo
redes&n th6 website has begun and wlth the intention lo launch in 2024,
An exlemal Governance review has been Inlllaled to ensure the Board and Bye-Laws meet tho needs of the
Institute.
I would like to recognise and offer my thanks to all the hard work done by our volunteer members, dunng what
has been 8nolh8r challenging year, the Board for their continued support for our actions and strategy and to our
President and the Vice Presidents for their advice and guidance and especially lo the Instllute's Staff who
conlinue to support our members and learners with prof888ionalism. klndnegs and patience.
V K Slngla. Chairman
Page 4

THE CHARTEREO INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
IA Company Llmlt•d by Guarant••)
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Dlreclors (who are also trustee8 of the Charity for the purposes of the Companles Act) present their annual
report together wtth the audited financial slalemenls of The Chartered Institute of Logistics and Transport In the
UK {Ihe Company and the Group) for the year ended 30 September 2023. The Directors confimi that Ihe Annual
Report and finan¢lal statements of the Company and the Group ¢omply with the current statutory reqU1￿Ments,
the requirements of the Company and the Group's governlng document and the provi8ion9 of the Statement of
Recomm8nded Practice (SORPI, applicable in the UK and Rewblic of Ireland IFRS 1021 (Effectlve 1 January
20151. Th8 financial statement8 have been prepared in accordance wlth the a¢￿untIng policies set out in note 2
lo the financial slatemenls. The Directors have also had regard lo the Charlly Comml88Son'8 guidance on Publlc
Benefrt and belthie thi8 can be dearly demonstrated.
ObJ•ctlv•• and actSvlti
. Polldm and obJ•ctlve•
The In5tilute'8 aim is lo promote, eno)urag¢ and coordlnale the 8bJdy ol the 8¢6ence and art of Iran8POrt and
logi$llcs in all its branche8'. lo Inlliale, foster and maintain invesligallon and ra8earch Into the best means arKI
methods of 8nd appliance8 for transport and logistics and the problems that affj irwolved and Ihelr m08t
sali$faclory solution., lo extend, In¢rea¥e and di58eminate knowledge and exchange Information and Ideas In
r8g8rd to all questions connected therewith and to a53181 and further, in 811 pra¢ti¢oble ways, the development
and Improvement of transport and logisli¢$ In the b851 interest of the community. Th680 ¢h8filable aims will b?
achleved by pursuing the strategic objectives of the In8litule.
Member8hlp is th8 prlncipal source of fvndSng for the Institute through member8, $ub6¢riplion•. Aclivlty indudes
the provision of a members, magazine, Focus, delivery of local events through Iho National and region81 slrudure
ané a number of bespoke benefits. Learning and developm8nl indudes provision of qualifications, training and
development programme8, as w811 as a¢ces8 lo the CILT Knowledge Cenlre, which provides one of the large81
speGialisl and most comprèhensive source8 of logistics, 8upply chain and transport information In the wodd. A
broa(i spread of nation81 and règional events including the presentation ofAnnual Awards, the Logistlcs Research
Nehvork Conferen¢e. the Transport Practitioners Me8ting. the Women in Logistics Conference and professional
Interest seminars delIve￿d through the In8tilute'8 neh¥ork of professlonal fcrfumB, provide opportunlty for tr
debate of current issues and policies.
b. Publlc B•n•llt
Supply Chaln operations, logistics and Iransptyt touch all areas of life. By pursuing Ils primary aims and obJ8clives.
the Instllute help5 ensure that the exi81ence of an environment which enables encouragement and support for:
individuals to study the theory of supply chaln op8ratlon$, logi8tlC8 and transport and related matters al all
levels., and
praclilioners, (Ygani8ations and Government lo explorn and dwelop be8t practl¢e In the operatlon and
delivery of services for the good of the community.
P￿1 pand•mlc Impact
The Institute ha8 continued lo hold the majority of Its events onllne or In a hybrid formal 88 W811 as In person
vents.
Page S

THE CHARTERED INSTITiJfE OF LOGISTICS AND TRANSPORT IN THE UK
{A Company Limitod by Guarant••>
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Strateglc r•port
Achlev•rn•nts and porforman¢o
a. Key porfornianca Indl¢ator•
Group Charitable Funds decreased by £843k (2022. increased £440k) from £4.062k lo £3.419k. Income
oeneraled from charitable activities decreased by 9.2%12022.' increa8ed by 24.0%> to £4,458k from £4,gJ8k.
Unrestricted income remained stable at £4,188k from £4,160k.
Expenditure on ¢harilable activities increa8ed by 22.2% to £5,382k from £4,404k. Unreslrtcted 6xpendlture
Increased by 13.8Yo lo £4,612k from £4,052k.
b. 8u•ln••4 r•vi•w
The awareness of the log18tics, Iran8POrt and supply chain professions ha8 continued lo have a hrgh profile. The
Inslllute conllnues to work closely across Government Departments lo increa58 awareness of where we Can
provlda advice and In8lgh18 and the Generation Loglsll¢¥ Prograrnme is a key element of the88 aclivllie8 whlch
conllnueé into 'year 2..
In addlllon, we continue lo support access lo qualfflcallons and training for those 88eking lo enter the profession,
through our reslriGled fund8, Novu8 Tru81 and Aspire Careers Foundation, which continue8 to make positive
progress supporting indlvldu818 through dire¢Uy funded and gifted courses awarded worldwlde.
¢. Inv•stmont pollcy and P•rfOm￿nc•
The In8111ute'8 Inv881menl powers are not r8slrl¢led by118 Memorandum or Articles of A890clatlon. Th8 Boafd
chooses lo engage a flrm of investment m8n8ger8. Inveslec Wealth and Investment have been engaged Since
September 2011. The Board has granted discretlonary investment powers lo ils Inve¥tmenl managers wlh the
agreed Inve8tm8nl strategy baing lo provlde an appropriate level of Income whil¥l mainlalnlng the capital value
of the portfdb. Chang88 In the value of the Investment portfollo are sel out In Note 1710 the account8.
Flnanclal rovlow
a. Golng ¢onc•m
After making appropriate enquirfes, the Dlreclors have 8 ￿aSonable expectallon that the Company has adequ8te
re50urGes to continue In operat￿nal exlslence for the foresee8t￿e future. For IhSs rea90n. they continue to adopt
the going concern basi8 in preparlng the financial statements. Further delalls regardlng the adoption of the going
concem ba818 can be found In the accounting pOI￿les.
b. Ro8orvo8 poIS¢y
On 30 September 2023 the Group held Group Free Reserves of £1.972k12022'. £2.199k). being unrestricted
fvnds of £2,186k12022.' £2.490kl less tangible and intangible assets of £214k12022.' £291 k) The cur￿n1 target
is that free reserves as eXp￿SSed as number of months of general fund costs (the solvency ratio I should be
within the range of six to nine months. This largel solvency ratio range wag increased from the 2021 year-end
tsrgel range of three to six months to provide greater resilience in uncertaln Ilmes. The Charity includes invested
funds in calculating free reserves as they are readily reali88ble.
Th8 year4nd 801vency ratio of free r8serve8 8qual88 10 4.7 months (2021- 6.51 gross unrestricted forecast fund
expendltura and whilst outside of the target, the Dlrecaors consider this to be an adequate level for the conllnulng
Pagg 6

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limit•d by Guarant••)
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
operation5 of th8 Charlty.
c. Prlnclpal rl8ks and unc•rtalntl•8
Revlews of the Inslitule'8 current and planned acllvllles Is undertaken on an orwing basis. Thls include8
Idenlifylng. assessing and managing the signlficanl rlsks lo which It might be exposed. Risk management 18
reviewed and monitored by the AudS1, Finance 8nd Rlsk Commlttee an¢J in addition the Board considers report8
from the Audit. Flnance and Risk Committee and reviews the approprlaleness of the risk management, strategy
and processes. The Directors recogni5e the Importance of risk management and the need lo regulady review
rlsk managamenl Strategy arKI proLY5SeS.
The prlnclpal areas of risk lo the Inslllule have been Idenlifled as those relallng lo xGes8 lo flnancial resouTce8
to fund investment in education and systems, educallon81 governance, safeguardlng Il¥ repulatlon, the delivwy
of value lo members thr￿gh Ils product8 and services and ensuring cyber and data security is resillent and w811
managed.
structur•, gov•man¢• and m•nag•m•nt
Con•titutlon
The Chartered In81ilule of Loglstics and Transport In the UK (The Inslllule} Ss a Company Ilmlted by guarant86
and a registered Charity governed ty its Memorandum, Articles of A6soclallon and Bye-laws. The Inslilule ha8
bNO wholly owned subsidiaries PTRC Education and Research SeNi¢e$ Ltd IPTRC), whi¢h was acquired on 18
December 2008 and whose aclivilies are now managed through The Inslitule and CILT IUKI Servws Lld, which
has never traded and remains dormant.
There have been no Changes in tho In81itul8'8 aim8 and charlta￿a obJecllves 8lnce the last annual report. T
Inslllute'$ ¢on$tllulion d￿$ not permit the di8tntMJlion of surpluses.
b. M•thod• of appolntm•nt or el•ctlon of Dlr•ctorn
Th8 management of th8 Group and the Company Is the responsibility of the Directors who are either elected. ex-
officio or co-opted under the lemis of the Memorandum, Articles of Association and Bye-laws.
¢. Organlsatlonal •tructur• and dKl•lon4n•king pollel
The present governance Structu￿ wa$ revised during 2020 and implemented durlng 2021 In Ilne with Charity
Commission be9t practi￿. The $lruclure enhanced the Instilule's capability for its Directors to focus on
$tr8legy. the management of risk and delivery of charitable objects while providing for robu51 governance.
Minor changes in the bye-laws were made at the May 2022 Board meeting. A working group has been formed
by the Borad lo commission a follow up independent governanGe review using external professional advice.
The Governan(* Structure is headed by 8 Board of Trustees & Directors supported by a Member8hlp
Representative Group IMRGI 8nd Board Committees which include the Audit, Finance and Risk Commille6
and the Remuneration & Awar(l$ Committee. The Board comprises elected member5, the Audit, Finance and
Risk Committee Chairman, the MRG Chairman. and up lo eight additional members ¢¢M>pted by the Board to
¢ovef any Skills gaps and to ensure the provision of a balanced and well-resourced Board.
A number of committee5 are directly xcountable to the CILT (UK) Board. These indude..
The Membership Representative Group (MRGI which provides the dSrecl interface between all
members and the Boar(l. and which includes volunteers and praclitiongrs from our ¢0n31ituenl
communitie8',
Page 7

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limit•¢l by Guarant•g)
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Publlc Policies Committee Is the exlemal voice of the Institute and brings logeth8r all the Policy
Groups supported by the wealth of knowledge and experience of the current Gommillee members,.
The Audit, Finance and Risk Commlttee pro¥￿e3 scnjtlny over financlal, risk manag8menl and related
8clivi1188.'
The Prof889ional Policy and Standards Committee. which considers qualffl&ilion¥ and standards
Induding mernbership grading criteria,
The Nomination8 Commltte6 overse85 nomination lo the Board and all key ¢ommltt¢es wlthin th
In$litule', and
The Remuneration and Awards Committee and the Professional Conduct Cornmillee which cover other
agpects of the Inslilule's process88 to recognise members, achievomenls and manage particular
business and charitable requlremanls.
Operatlonal Commltteos Indude..
The Nallons, Reglons and Forums Commlllee, which draws togethèr r8pres6nlatives from lh8 nations,
regions and forums lo share best practice an¢J infom) the activities of the Membership Repre6enlative$
Group,. and
The Award¥ for Excellence Commlllee which is representatlve of all the membershlp culminating in the
annual Award8 for Excellence.
The Boar¢J met seven tlmes during the financial year. Members of the 808rd serve wilhoul ￿muneration and
are Trustees a¥ well a5 DireGlors'. they hold no shares in Ihe Institute and no financial liability in respect of
these 8ppolnlmenl8 Should it cease trading.
Dio¢toryJ and 0ffl¢6rs of the In81ilutè are appointed for a porfod which 18 determined by the Bye Laws: Ihls18
generally ft)r a term of up to four years after which Ihey may seek r64le¢lion and oach may usually gerve no
more than hvo consecutive terms in the same office.
Day to day management of the Inslltule Is undertaken by the executive staff under th8 dirKlion of the Chief
Executive.
Instllute Board Corntnlttees meet regularly a8 required and have a direGI reportlng line lo the Board.
d. Polici88 •dopt•d for th• Induction and tralnlng of Dir•¢lor•
The Inslitule's Bye-laws set out the process for the appointment of director8 as well as their terms of office. Board
appointments of elected members a￿ for four years, and Directors can serve up to 2 terms. The terms are on a
rotating basis. Ordinarily every two years the Institute invites 8pplicalions from its Members for the available
placeg which are as$e$$eé through the Nominations Committee as part of a qualified election pyocess. If there
ar8 more suitable candidates that vacancies, specrfied informatKtrn provided by applicants is presented to the
Inslrtute's voting Members lo allow asS8ssmenl and selection of preferred ¢andidales lo provide a broad
representatlon of skills and experience required to direct the business of the Institute. In addilDn, the Board may
ci>opt up to a further 8 membws for a renewable period of up to 12 month$ for thoir skill and kno¥￿edge.
Members seeking election to the Board are proviL1ed wrth infomlation outlining the responsibilities 8nd duties of
Page 8

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlted by Guarant00
DIRECTORS. REPORT
FOR THE YEAR ENOED 30 SEPTEMBER 2023
directors. Newly appolnled dlrectors attend a formal induction outlining the duties and responsibilities of a director
and Injstee. Th18 Is supplemented by copies of approprlale Chanties Commission and advisory publications and
copies of the In8tilute's goveming docurnenls.
•. Flnanclal rl•k managwn•nt
The Director8 hav8 as8es88d the m8jor risk¥ lo which the Group and the Company are exposed, in particular
those related to the operations and financ8s ol the Group and the Company and are satlsfied that systorns and
procedures are In place lo miligale 8xposur8 lo the malor ￿￿ks.
Plan• for futurn p•rlod•
Future developments
Th8 Board has agreed 8 rev188d Strategy and is commen¢lng the proces8 for the wlder communlcatlon of thls.
The In8tllule ha8 started a project to revlew and upd8te Its website lo ensure ￿18 C8P8ble of suppcKtlng dlglial
ways for our members to engage wllh us, Including onllne approache8 for managing thelr CPD and career
progr88slon inlogral lo the accredited membership approach.
The Institute Is Intent on conllnulng lo ralse awarene88 of the full potenllal and value of Sustainable logl8llc8.
Iran8POrt and Supply chain operations transport and lo further Ihe ra15ing of professional slanéards. dellvery of
relevant quallflcatSon8 and Iralning, the development and sharlng of be81 practice, the enabling of profesglonal
network8 and assc¢ialed Servlces lo facllltate the broad881 development of knowledge and expertl$e In Its field.
Our objectlves are to deliver e88enlkql contlnulng prof888ional development and value to 811 members by
supporting and enabling..
Career pTogres8Son
The crealion and enabling of profe88ional netsvorks
The settlng and delivery of prof055ional standard8
Profassional recognition through membership grading and Gertificalionlde8ignalion
Providlng Input lo Govemmenl and associated bodies on o$ue$ to Support informed deci8ion8.
The Directors ara conscious of the need to ensure that the Institute wntinues to deliver tanglble publlc benefit.
Given the cUr￿nt profile of the profesglon within Governrngnt, organisations and soC￿lY the Directors recognise
that there Is a c18ar opportunlty to support the growth and influence of the Institute, its members and their
acllvllies. Raising the profile, vou and standards of the profession Yill enable futu￿ skills lo be developed and
fecA)gnlsed as well as attractlng, developing and retaining the talenl necessary to meet the challenges of the
future.
Accountg
The Company's constitution does nol permit the distribution of profil. The annual accounts show a decrease for
the year in Total Funds of £643k12022'. increase £440k).
Statem•nt of Dlrectorn. responslbiliti
The Directors {who are also the Trustees of the Company for the purposes of Company lawl are responsible for
preparing the Directors, Report including the Strategic Report and the financial $latements in accordance
applicable law and United Kingdom Accounting Standards {Untted Kingdom Generally Acceplod Accounting
Practice).
Page g

THE CHARTERED INSTITLfTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Campany Llmlt•d by Guarant••l
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEwfEMBER 2023
Company law requlres the Directors lo prepare financial statements for each financial year. Under Company I
the Directors musl not approve the financial statements unless they 8re sat18fied that they give a true and fair
Vlew of the slate of affalrs of the Group and the Company and of theSr incoming resources and application of
iesourc85, including thelr Income and expenditure, for that perfod. In preparfng Ihe8e financial 81alements, the
Directors are required lo-.
select 6ullable a¢¢ounllng pollcles and then apply them consl8tently',
observe the method8 and principles of the Charilias SORP {FRS 1021.,
make judgements and accountlng e81imales Ihal are reasonable and prudent.,
$18te whether appl￿ble UK Accounting Standards IFRS 1021 have been followed, sublect to any
material éepartures di8c108ed and explained in the financial statem8nls,' and
epare tho financlal 818temenls on the going concern bas18 unless111s Inappropriate to presume that
the Group wlll continue in busin888.
The Dlreclor8 are re8ponslble for keeping adequate accounting record8 that are 8uffl¢ient lo Show and 8xplaln
the Group and the Company's Ir8n88clions and disclose, with reasonable accuracy at any lime, the finanGi81
poslllon of the Group arKi the Company and enable them lo ensur8 that th8 financial s18lemenls ¢omply with the
Companle8 Acl 2006. They are also re8ponslbl8 for safeguarding th8 a388ts of the Group and the Company and
hence for taking reasonable Steps for the prevention and (ieleclion of fraud and other irregularilie8.
Ola¢lo•ur• of Infomiatlon to audltor
Each of the per80n8 who are Dlreclors at the Ilme when this Dlrector8' Report 18 approved ho8 conflrmed that..
80 far 88 that Dlrector 18 aware, there is no relevant audit Information of which the charitable Group'8
audllor18 unaware, and
that Dlreclor has taken all the steps that ought lo have been taken as a Dlreclor in order to be aware of
any relevant audit infofmalion and lo establ￿h that the charitable Group'8 audSlor 18 aware of Ihat
infofmalion.
Audltor
The auditor, Mazar8 LLP. has indlcaled 11$ willingnes51o continue In office. The deslgnated Directors I￿11 prop08e
a nK*lion reappointing the auditor at a meèting of the Directors.
The directors are responsible for the maintenance and integrity of the ciry)rate and financial informatSon Included
on the charitable Company's website.
Approved by order of the members of th& board of Dire¢tors on 18 January 2024 and slgned on their behalf by..
V K Slngla
Director
DJPugh
Director
Page 10

THE CHARTERED INSTrruTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmltod by Guaranto•}
INDEPENDENT AUDITOR'S REPORT TO THE CHARTERED INSTrruTE OF LOGISTICS AND
TRANSPORT IN THE UK
Opinlon
We have audited the financial $lalemenl$ of The Chartered Institute of Logistics and Transport in the UK Ilhe
'Charily'l for the year ended 30 September 2023 which comprise the Statement of Financial Activlties. the
8alance Sheet. the Cash Flow Statement and notes lo the financial 81atements, including a summary ofsignrficanl
accounting policl88.
The financ181 reportlng framework that has been applied in their preparation 19 applicable law and United Kingdom
Accounting Standards. FRS 102'The Financial Reporting Standard applicable In the UK and Republic of Ireland.
{Unlted Kingdom Generally Accepted Accounting Praclicel.
In our opinSon, the flnonclal statements..
give a true and fair view of the slate of the charlty's affalrs 88 al 30 September 2023 and of Its InciHne and
expendllure for the year then ended.,
have been properly prepared In ac%ordance wllh United Klngdom Generally Accepted AccountlTrJ Practlce,.
and
have been prepared Sn accordance with the requiremen18 of the Companies Act 2006.
Basls for oplnlon
We conducted our audlt In accordance wlth Inlemation81 Standards on Auditing IUKI IISAS (UKII arKI applicable
law. Our responslbilllles under those 8landards are further d¢s¢ribed In the'Audllor's r8sponslbilllles for the audlt
of the financial slalemenls seCt￿n of our report. We are in¢Jependenl of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial slalemenls Sn the UK, Includlng the FRC'8 Ethical
Standard, and we have fulfilled our other ethScal responsibilities in accordance with these requlremenls. We
believe that the audll evldanca we have obtained is ¥uffiGlenl and appropriate lo provlde a bas18 for our opinlon.
Concluslons relatlng to going conc•m
In auditing the financial 8latements, we have concluded that the dlrector8' use of the golng ￿ncern ba818 of
accounting in the preparallon of the flnanclal slalemenls is appropriate.
Based on the work we have performed. we have not identffled any malerlal uncertainties ￿lating lo events or
conditions that, individually or collectively, may cast 8ignrflcanl doubl on the ¢harity's ability lo continue as a goirvj
con¢em for a period of al least ￿1ve months from when the financial statements are aulhorised for i88ue.
Our resPOnsibi1rt185 and the responsibilities of the dire¢loryJ wllh respect lo going concern are described in the
levant sections of th18 report.
other inforniation
The other information comprises the information induded in the annual report other than the financial slalemenls
and our audilor'$ report thereon. Th8 dir￿OrS are responsible for the other information containe¢J within the
Page 11

THE CHARTERED INSTrruTE OF LOGISTICS AND TRANSPORT IN THE UK
(A CoMp￿Y Limltod by Gu•rnnl••)
INDEPENDENT AUDrroR'S REPORT TO THE CHARTERED IN8TITLrrE OF LOGISTICS AND
TRANSPORT IN THE UK
annual report. Our opinion on the financlal 81atemen18 d088 not cover the other Infom￿tIon and, excwt to t
ext8nt olhermse expliciuy 8taled in our report, we do not exwe88 any fonn of a88urance Conclus￿ ￿Te￿.
Our responsibility is lo read the other Information and. In dolw so, ¢y)n8Kler whether the other informalK>n 18
materially Inconsistent with the finawal 81atement8 or our knowledge oblained in courne of the audrt, or
otherwis8 appears lo be materially mi8Stal8d. If Klentify such malwlal In￿nSIstenc￿ or apparent material
mi58talements, we are required to detormine wthether this give8 rise lo a material misstatement in the financial
8talement3 themselves. If, based on the V•YYk have performed, wè conclude that there is a malerlal
misstatement of this othèr Informal￿n, ￿ are requir*J to rewt that fact.
We have n(Ahing lo rep(Yi in Ihls regwd.
Oplnlons on other matt•rs pr•scrlb•d by th• Companl•s Act 2006
In rmr opinion, ba¥ed on tho W•￿rk undortsken In tho cour88 of the audlt..
the inlorniat￿n given in the director8. report for the financlal year for whlch the flnancial 8talemenls are
prepared is L¥)n818lenl with the financial 8talemenls.' and
Ihe directors. r8port have been prepared In awrdance wllh 8ppllcablo leg81 requirements.
Matt•rn on whlch wo aro requlred to r•port by oxcoptlon
In Ilght of tho knowledge and under8tandlng of the ch8rlty and118 envlmnm8nt obtained In the c(wse of the audit.
we have rbol Idonlifl8d malerfal mi¥$latement8 in the dlrectorn. report.
We have nolhlro to report In respect of lhefd1￿ng matter8 in relallon lo whlch Iho Compan188 Acl 20(h8 requlre8
118 lo r8POrt lo you Ir. in our opinion..
8dequale accounllng records have not been kept, or returns adequatg for our audit have not been le￿WeAl
from branch88 not vi8rted by u8,. or
the Ilnancw Statements are r#)t in aweemenl wth the actoJntsw r•cffll8 aThl rotwn8', ¢Y
certaln dS8d08ure8 of directors, remuneralfjon spelaf￿d by law are not made,. or
• we have re¢olved all tho inf(ffiwlion and explanations we requlre for ￿r audll.
R•spon8lbllltl•8 of Trust•e8
AS explained more fully in the direct￿s, respon8ibilili88 statement set out on page g. the directors (who are also
the directors of the charitable company for the purposes of Company lawl are r88pon8ible for the preparat￿n of
the flnarthl stalemenl8 and for boing satisfted th81 they glve a true and falr vlew, and for 8uch Internal control a8
the directors detormine 18 necessary lo enable Ihe preparatlon of financlal stalement8 that are free from malerfal
mi8Staiemenl. whethor due to fraud or error.
In preparing the financial statements, the directors are resp)nsible ft)r a88e881ng the charivs atmlity to conlir
a8 a wing concem, dl8clo8lng, as applicable, matter8 related lo going concern and using the goirvj concern basis
Page 12

## **THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK** 

## **(A Company Limited by Guarantee)** 

## **INDEPENDENT AUDITOR'S REPORT TO THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK** 

**of accounting unless the directors either intend to liquidate the charity 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 the financial statements.** 

**The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.** 

**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.** 

**Based on our understanding of the charity and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements employment regulation, health and safety regulation and anti-money laundering regulation.** 

**To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:** 

- **Inquiring of management and, where appropriate, those charged with governance, as to whether the charity is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;** 

- **Inspecting correspondence, if any, with relevant licensing or regulatory authorities;** 

- **Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and** 

- **Considering the risk of acts by the charity which were contrary to applicable laws and regulations, including fraud.** 

**We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as: tax legislation, pension legislation, the Companies Act 2006 and the Charities Act 2011.** 

**In addition, we evaluated the directors' and management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, revenue recognition (which we pinpointed to the cut off assertion), and significant one-off or unusual transactions.** 

**Page 13** 



## **THE CHARTERED INSTITUTE OF LOGISTICS ANO TRANSPORT IN THE UK** 

## **(A Company Limited by Guarantee)** 

## **INDEPENDENT AUDITOR'S REPORT TO THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK** 

Our audit procedures in relation to fraud included but were not limited to: 

- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; 

- Gaining an understanding of the internal controls established to mitigate risks related to fraud; 

- Discussing amongst the engagement team the risks of fraud; and 

- Addressing the risks of fraud through management override of controls by performing journal entry testing. 

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at w.frc.orq.ukauditorsresponsibilities. This description forms part of our auditor's report. 

## **Use of the audit report** 

This report is made solely to the charity'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 charity'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 charity and the charity's members as a body for our audit work, for this report, or for the opinions we have formed. 


Jonathan Marchant (Senior Statutory Auditor) for and on behalf of Mazars LLP 

Chartered Accountants and Statutory Auditor Address: 90 Victoria Street, Bristol, BS1 6DP 

Date 19 January 2024 

Page 14 



THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limit•d by Gu•rant••)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDEO 30 SEPTEMBER 2023
Unrestrlrted
lunds
Endowmenl
funds
Total
fv•)ds
2021
Restrfrted funds
2023
Tot•1 funds
2023
£000
£oTr)
In¢ome and endowments
from:
cionatbns and lelacles
Char5table artivities
290
290
864
4.166
4,166
4,160
other tradlng attIv￿leS
Investments
45
14
59
62
Other Income
91
91
82
Totsl Income and Endowment
4,302
290
14
4,606
5,169
Expendlture on:
Ralsln8 h&nds
Charftable actlvities
12
16
15
4.612
4.624
766
5,382
5,398
4,404
4,419
Total •xpendlture
766
Net b•for• In¥ertment 8alns
Net lalns on Inve5trnent5
Total
323
476
792
749
19
24
309
13041
14761
12
17681
440
N•t mov•ment In lund$
HLCP. Restrlcted fund
13041
14761
125
12
17681
125
Re￿nCIlIatIOn of funds.,
Total fund biought Iofward
716
856
4,062
3,622
Tot•1 funds carrl•d forward
2,186
365
868
3,419
4,062
The Statement of Flnanclal Actlvltles Indudes all golns and10s8es recognlsed In the year.
Th? notes on pages 18 to 38 fom part of th88e flnandal stalemenls.
P8ge 15

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limlt•d by Guarant••)
BALANCE SHEET
FOR THE YEAR ENDED 30 5EPTEM8ER 2023
2023
£000
2022
£OOD
Not•
Flxed al9￿#
Intangible assets
Tangible asset8
Investments
15
16
17
193
21
2,654
254
37
2,451
2.867
2,742
Curr•nt 4800ts
Debtors
C88h al bank and In hand
602
959
548
1,SY)2
25
1,581
2,448
Curr•nt Ilabllltl•8
Credltors.. amounts falling due wlthln one
year
19
1982)
(1.0931
N•t curr•nt a•••t•
579
1,355
Total a••o1• I•M CUfr•nt IlabllS11
3,446
4,097
Non - Curront Il•bllltl
(Bounc• Back Lo•n)
20
(27)
1351
Tolal n•t a•••ts
Charlty fund•
Endowment lunds
Reslrlcled funds
Unrestrlcled fund8
21
21
21
856
716
2,4
365
2,186
Tolal funds
The Dlrectors acknowl&Jg8 Ihelr responslbllllles for ￿mPlyIng wlth the requlremenls of the Companles Act with
respect to accounting ￿CordS aThJ prepafation of financial statements.
The financlal slalemenls wore approved and aulhorised for issue by the Director8 on 18 January 2024 and slgned
on their behall by..
V K Slngla
Director
DJPugh
Director
The notes on pages 1810 38 form part of thes6 flnanaal 8tatements.
Page16

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limitod by Guarante8)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2023
£000
2022
£000
Ca•h Ilow• from op•ratlng actlvltl••
Net cash used In operating actfvllles
(8181
Ca•h flow• from Inve•tlng aetlvltl
Dkn'd8nd8. inlemls, and r8n16 from inv681ments
59
Purth8¥e of intangible 888818
1147)
Purchase of tanglble fixed as8818
14)
(15)
Pr¢)ce6ds from sale of Investments
Purcha8e of Inve8lmonts
15251
(5281
Not ca•h u••d In Inv••tlng •ctlvttl••
1125)
(133)
Chang• In cuh and cA•h •qulval•nt• In th• y•ar
{942}
653
Cash and cash 8quivalent8 at the beginnlng of the year
1,902
1,249
CaBh and ¢a•h •qulval•nt• at lh• •nd of th• y•ar
The note8 on pages 20 to 39 f¢)m) part of these firkqnclal $18tements.
Page 17

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlted by Guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
G•n•ral Inforniatlon
The In$lilule is a charitable Company limileé by guarantee In England & Wales, registered number
02829347 ané Chartty number 1 LY)4963.1ts registered office. and Ihal of its subsi(Jiary, is 3 - 4 Eartstrees
Court. Earfstree$ Road. Corby, Northamptonshir8, NN17 4AX.
Accountlng polScl•8
2.1 Ba•18 of pr•parntlon of flnanclal slat•m•nts
The financlal statements have been prepared In accordance wSlh the Charit183 SORP IFRS
1021 Accounting and Reporting by Ch8rllie$'. Slalemenl of Recommended Practice applicable lo
charlll85 preparing their accounts in 8ccordance wllh the Financi81 Reporting Standard applicable in
the UK and Reput￿lc of Ireland IFRS 102) leffe¢live 1 January 20151, the Flnancial Reporting
Standard aP￿Icable in the UK and Republlc of Ireland {FRS 1021 and tho Companle8 Act 2006.
The Chartered In8tilute of Lo9lsllcs and Transport In the UK meats the definillon of a publlc benefrt
enllly undar FRS 102. Assets and Ilabllllles are Inltially recognlsed at hlslorlcal c08t or transactlon
value unless olherwi8e staled in the relevant accounting pollcy.
The CharW8 8ub$ldlarle8 remained dormant throughout the current and pdor perlod and therefore
are not consolidated into these financlal slatemenls.
The Dlreclcrf8 have a888886d whether th8 u$e of golng concom 58 appropri818. l.e, whether there are
any rnaterial uncertainlie8 related lo events or condillons Ihal may casl doubl on the ability of the
Company to continue as a wlng concern. The Dlreclors make this assessment in respect of a perlod
of al least one year from the dale of approval of the report and financlal 81atements and have
concluded that th8 Company has adequate resources lo ¢ontlnue In operallonal exi81enc8 for the
foreseeable future and there are no material uncertaintie5 about tho Company's ability to continue as
going concern. The directors have disclosed thi5 On page 3.
2.2 Incom•
All Income 18 recognised once the Company h88 entitlement to the Income, 11 is probable that thè
income wlll be received and the amount of income recelvable can be measured reliably.
For18gacres, entitlement 15 taken as the earfler of the dale on which either: the Company Is aware
that probate has been granted, the estate has been finalised and notification ha5 been made by th8
executorls) to the Trust that a dlslrlbution will be made, or when a distribution 18 recelved from the
estate. Receipt of a legacy, in whole or in part, is only considered Probable when the amount ¢an be
measured reliably, and the Company has been notified of the executor's Intention lo make a
dislribulion. Where legacies have been notified to the Company. or the Company is awa￿ of the
ranting of probal8. and the criteria for income recognition have nol been mel, then the legacy
treated as a Contingent asset and disclosed rf material.
Inwme lax rgcoverable in relation lo investment income Is recognised at the lime the investment
income is receivable.
Page 18

THE CHARTERED INSTrruTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlted by Guaranto91
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.3 Exp•nditur•
Expenditure Is recognised once there is a legal or conslruclfve obligation lo transfer economic benefit
to a third paty, 11 Is probable that a transfer of economic banefils will be wul￿d in setuement and
th8 amount of the obligation Gan be measured reliably. Exp8ndilure is classified by a¢livity- The costs
of each actwily a￿ made up of the total of direct costs and shared ts)sts, including support costs
involved in undertaking each a¢lfvtty. Direct costs attributable to a single acllvlty are allocated diffj¢Uy
lo that activity. Shared costs whl¢h contribute to more than one activity and support co315 whth aro
not attributable to a 81ngle activity are apportioned belween those actsvities on the basls consistent
wllh th8 use of resource8.
SuP￿t costs are those costs InoJrred directly In 8upport of expenditure on ltte objects of I
Company. Governance cos18 are those incurred in connectlon wlth admlni8tration of the Company
and compliance wllh con81ilulional and slatutory requirements.
Costs of generating funds 8re c08ts Incurred in atlractlThJ voluntary Income, and those incurred In
trading activrties that ralse fund8.
Charllable acllvllie5 and Govemance costs are Costs Incurred on the Company's 8ducalSonal
operation8, including support costs and costs ￿latIng lo the governanc8 of the Company apportloned
lo charltable acllvllies.
Grants payable are charged In the yo8r when the offerls made, except Sn Ih08e cases where the offor
1$ conditional, such grants being recognlsed as éxpenditure when the conditions allachlng are fulfilled.
Grants offered subject lo conditlons whlch have not been mel at the year end are noted 88 8
commitment, bul not accrued as expenditure.
2.4 Int•r••t rocolvabl•
Interest on fund8 held on deposll 1$ Included when recefvable and the amount can be measured
reliably by the Group.. thi8 1$ normally upon nolificalion of the interest paid or payable by the in81itullon
with whom the fuThls are deposilod.
2.5 Intsnglbl• •uots and amortlsatlon
Intanglble assets c05ting £1 k or more are capita1188d and recogn16ed when futur6 economlc benefits
are probable and the cost or value of the asset can be measured reli8t4y.
Intangible assets are Inbtlally recognised al cost. After recognition, under the cost model. Intangible
assets are measured at cost less any ￿GumUlated amortisatlon and any a¢wmulaled Impairment
losses.
Amortisation Is provided on intangible assets at rates calculated lo wrlle off the cost of each a88el on
a straighl-linè basis over its expected useful Iwe.
The eslirnated useful I￿e6 are as follows:
Amortisalion is provlded on the following bases..
Trademarks
Computer software
Goodwill
Assets under construction
Over 4 years
Over 10 years
Befv￿n 2 and 5 years
Asset will be amortised once ￿MMisSioned for
operational use
Pap19

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
{A Company Limitod by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.8 Tanglblé flX￿ ￿sets and dopr•ciatlon
Tanglble fixed 08sets ¢osling £1 k or more are caplt81i8ed and recogni8ed when future economlc
benefts are probable and the ¢osl or valu8 of the asset can be me88ured reliably.
Tangible fixed assets are Inltially recognlsed at cost. After r6cognillon, under the cost model. tangible
fixed assets are measured al cost less accumulated depre¢iallon and any accumulated impairmenl
losses. All costs incurred lo bring a tangible flxed a58el into 115 intsnded working condition should be
induded in the me8surem8nl of cost.
Dèpr6¢iation is charged so as lo allocate the c08t of tangible fixed assets less their resklual value
over their e8timaled useful lives, u8Sng the 8traight-line method unle5S OtheThvlse slated.
Depreciats'on is provided on the followlThJ b8wJ'.
LorKJ-lern) lèasehold prop8rty
Flxlure5 and fillings
Office equipment
Computer equipment
Over th? remalnder of the lease
15% reducing balance
Over two lo len year8
Over two to len years
2.7 Inmtffl•nt¥
Flxed asset investrnen15 are a form of flnanclal Instrument and are Inllially recognlsed al thoir
trangaclion cost ané sub8equenlly measured al fair value al the Balance Sheet dale, unless the value
cannot be measured reliably in wh￿h case rt Is measured at CO81 le$$ impairment. Investment gains
and losses, whether reali88d or unrealised. are comblned and prasenled as 'GainsllLo8sesl on
Inveslmenls, In the Consolidated Statement of Flnanclal Activities.
Investments in 8ub8ldlarle8 are valued at cost le$8 provlgion for Impairment.
2.8 0•btorn
Trade and other debtors are recogniged al the 3ettlernent amount after any trade discount offered.
Pr8paymen18 are valued at the amount prepald net of any trade discounts due.
2.9 Cash al bank and In h•nd
Cash at bank and In hand Includes cash and short-term hlghly Ilquld investments wllh a short maturity
of three months or less from the date of acquisition or opening of the dep051t or Similar account.
2.10 Llabllltl•• and provlslon8
Li8blllli8s are recognised when there is an obligation at the Balance Sheet dale as a result of a past
ev8nt. il is probable that a transfer of e￿nomiC benefit will be required in settlement, and the amount
of the selllement can be estimated reliably.
Llabilities are recogni8ed at the amount that the Company anticipates it will pay 10 Settle the debt or
the amount it has receNed as advanced p8yments for the good¥ cff services it must provide.
Provisions are measured al the best estlmale of the amounts required lo settle the obligation. Where
the effect of the time value of money is m8terlal, Ihe provision 13 based on the present value of those
amounts, discounted at the pre-tax dlscount rate that reflects the risks specrfic to the liability- The
unwinding of the dlscounl is recognised in the Consolidated Statement of Financial Activities as a
finance cost.
Page 20

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmltod by Guarant••)
NOTES TO THE FINANCIAL STATEMENrJ
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.11 FlTranci￿ inslrument8
The Charfty only has financial assets and financial liabilllles of a knnd that qualify as basic financial
Instruments. 80siG Ilnancl81 instruments are inrtl81ty recogniseé at transath.on value and subsequent
measured at their settlement value with the exception of bank loans, whl¢h are subsequently
measured al amorti88d c081 uslng the effective interest method.
2.12 Pen•lon8
The Charfty op8rates a defined conffibullon pen$6on scheme, and the p8nsK)n charge repre8ent8 thè
amounts payable by the Charlty to the fund In re$pe¢l of the year.
2.13 Fund I¢￿vntIng
General fund8 are unrestrlcted funds whlch are avallable for use al the dlscretlon of the Dlrector8 In
furtherance ol th8 general objecllve8 of the Charity and whi¢h h8ve not been designated for other
purpo$e8.
Deslgnaled fund5 comprlse unr881rScted fund8 that have been 861 a8ide by the Dlreclors for particular
purp08es. The alm and use of each de81gn8ted fund18 8el oul In the nots8 to the fin8nclal 8t8lements.
Re8tdct8d fvnds ao fund8 whlch are lo be used Sn accordance wtth Spactnc reslrlctlons imp08ed by
donors or which have been ral8ed by the Charlty for partl¢ular purposes. The costs of raising and
admlnlslering Such fund8 aTr charged agaln81 the specific fund. The alm and us8 of each re81ricled
fund18 sel out In the note8 to the flnanclal 8talements.
Investment Income, galn8 and108888 are 811oc8ted to the approprlalo fvnd.
In¢om• from donatlons and l•gacl•s
Re8trtct•d
fund8
2023
£000
Total
fund8
2023
£000
Tol•l
fund•
2022
£000
Donatlons
Pag8 21

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmltod by Guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Incoffl• from charltabl• actlvltl•s
Unr••trl¢t•d R•slrlct•d EndoYM•nt
lund8
fund8
funds
2023
2023
2023
£000
£000
£000
Tolal
funds
2023
£000
Tolal
funds
2022
£000
M•mber8hlp
1,948
1.948
1.943
Leamino and Development
1,817
2.107
2.555
Events, Forum8 and
Communlcallon
401
401
410
In¢om• from oth•r tradlng actlvltl
Incom• from non•charllabl• tradlng aCtlvltl•B
Unr••trlct•d
lunds
2023
£000
Total
fund•
2023
£000
Totsl
fund•
2022
£000
PTRC
Total 2022
Page 22

THE CHARTERED INSTrruTE OF LOGISTICS AND TrANSPORT IN THE UK
(A Company Llmlt•d by Guar•ntse)
NOTES TO ThE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Inv•¥tmont incom•
unl￿trIct•d Endowm•nl
funds
fund•
2023
2023
£000
£000
Total
fvnd•
2023
£000
Total
fund•
2022
£000
IrKome from local li8t8d inv881ments
14
Investment Income- bank intere81
Total 2022
Oth•r Incomlng r••ources
UnM•trlct•d
fund8
2023
£000
Totsl
fundg
2023
£000
Total
fund•
2022
£000
Inv••tm•nt management co•t•
Unr••trlct•d Endowmenl
fund•
fund•
2023
2023
£000
Tot•1
fund•
2023
£000
Total
fund•
2022
£000
Inv88tment management fe08
Total 2022
Page 23

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
IA Company Llmlt•d by Guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Anal￿1¥ of grants
Grnnts lo
Grants to
In•titutlon8 IndMdual8
2023
2023
£000
Tot•1
fundg
2023
Tot•1
fund•
2022
£000
Grants. Membershlp
17
Grants, Learnlng and Development
335
Total 2022
10. Analy•ls of oxp•ndltur• on ¢harltsblo actlvttl••
8umm•ry by fund typ•
Unrn•trlct•d R￿trIct•d Endowm•nt
fund•
fund•
funds
2023
2023
2023
£000
£000
Total
fund•
2023
£ODO
Total
fund•
2022
£000
Membershlp
1,927
1,931
1,755
Leamlng and Developmont
2,060
2,828
2.081
Events, Forum5 and
Communication
625
625
Page 24

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
IA Company Llmlt•d by Guarnntw)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
11. Analy81• of •xp•ndllurn by actlvltles
Actlvml
undertak
dlroctly
2023
Grnnt
fundlng of
actlvltl•8
2023
£000
Support
co8t8
2023
£000
Tolal
fund¥
2023
Total
fund•
2022
£000
Membershlp
301
1,628
1.931
1,755
Learnlng and D8velopmenl
543
1.517
2,828
2.081
Evenl¥, Forums and
Communication
335
625
Total 2022
12. Audltorf• rnmunerntlon
2023
2022
£000
Fees payable to the Company's audltor lor th6 audlt of the Comp8ny'8
annual accounts
13. Slaff C￿(•
2023
£000
2022
£000
Wages and 8al8rie6
1,961
Social 8ecurlty costs
192
174
Conlrfbullon lo define(i rthlribution pension
schomes
202
126
During the year redundancy ￿$ts amounting to Nil were incurred, 2022 Nil
Page 25

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmltod by Guarant•o)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The average number of persons employed by the Company dunng the year wa8 as follows..
2023
No.
2022
No.
Charitable aGliviti86
52
Support
The numberof employee8 whose employee benefits (excluding èmployer p8nsion costs) excee(led £60,000
2023
2022
No.
In the band £80,¢XJ1- £70,000
In th• band £70,001- £80,000
In the band £80,001- £90,0(KJ
In thé band £100,001- £110,000
In the band £110,001- £120,fXIO
The key management personnel of the Charity comprise that the board of dlre¢tors, Ihe Chlef Exetxrtlvo.
Dlreclor of Finance and Company Secretary, Director of Marketing and Communication, Director of
Membership and the Director of Educallon and Training. The employee benefits, Including employern,
pension conlribullon8, amounted to £687k {2022.. £585kl.
14. Dlr•ctorn' rnmuneratlon and exp•ns••
During the year, no Dlreclors ￿ceiVed any remuneration or other benefits (2022- £NILJ.
Durfng the year ended 30 September 2023, 3 Directors incurred travel expense¥ of £1 k in total for all
Dlrectors (2022.. £lk to 2 Diroclcys in rgspect of travel).
Page 26

THE CHARTERED INSTrruTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlted by Guarant••)
NOTES TO ThE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
15. Intanglbl• A••ot•
Company
Trad•mark8
Computer
Softwaro
£000
Educatlonal
Devolopmonl
£000
As8Ots Undor
Constructlon
£000
Total
£000
Co•1
Al 1 October 2022
12
170
110
21
313
Addlllons
Dispo8818
Tran8f&rred to Designated
Fund
21
{211
{21)
AI 30 September 2023
12
177
115
314
Amortl••tlon
Al 1 Octob8r 2022
10
21
28
Charge for the year
Disposals
37
23
62
AI 30 September 2023
12
59
51
121
Not book valu•
AI 30 September 2023
119
193
At 30 Septemb8r 2022
149
82
21
254
P8ge 27

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmil•d by Guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
16. Tonglblo A8••ts
Company
Flxturns and
Flttln85
Comput•r
Equlpment
£000
Equlpm•nt
Totsl
£￿0
Co•t
Al 1 October 2022
130
184
Addlllon8
D18PO8a18
AI 30 S•pt•mb•r 2023
34
134
169
Amortl*atlon
At l Oclob•r 2022
27
101
127
Chargo for th• yoar
D18posals
20
21
At 30 S•pt•mb•r 2023
28
120
148
Net bcd( value
At 30 September 2023
14
21
AI 30 September 2022
37
Page 28

THE CHARTERED INsT￿UTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmltod by Guarant•o)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 30 SEPTEMBER 2023
17. FIX￿ A•s•t• Invutm•nl•
Ll•t•d
Inv•8tmont•
£000
Company
Cost or valuatlon
At 1 October 2022
2.451
Addition8
525
D18PO8als
(346)
Ravalu8lk)n8
24
At 30 S•pt•mbor 2023
N•t book valu•
At 30 S•pt•mb•r 2023
2.654
AI 30 September 2022
D•btor•
2023
£000
2022
£000
Du• wllhln on• y•ar
Trade debtors
374
Amounts owod by Group undertakings
Prepayments and accrued income
209
165
Page 29

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limltod by Guarantm)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
19. Cr•dltorn', Amounts fallSng duo wlthln on• y•ar
2023
£000
2022
£000
Trade creditor8
256
293
Other taxation and 80CJ81 Security
47
77
Other creditors
42
Accruals and deferred Incom8
637
Deferred Income In 2023 of £114k 12022.. £158k) relat￿ to fe88 recefved In advanLX8 for corporate
packages.
20. Fln•nclal In•tfum•nl•
2023
2022
Flnanclal aM•t•
Financlal a888t8 that are debt Instruments
mea8ured 8t amortls8d c06t
2023
£000
2022
£000
Flnanclal Ilabllltl•s
Financial liabilities moasured at amortised
cost
(640)
{654)
Bank loan le85 than 1 year
Bank loan great than 1 y8ar
{101
{271
(111
{351
Financial essets that are debt in8truments me88ured al amortlsed cost comprL8e cash al banK trade
debtors.
P8ge 30

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
{A Cornpany Limit•d by Guarnntm
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Financial liabi111188 measured al amortlsed c081 comprlse trade creditors, other credilors and accrua18, and
bank loans.
A Government 'Bounce Back Loan. of £50k taken out in May-2021. This is repayable In equal caplial
inslalmenl8 over 5 years, ¢ommenclng May 2022. Interest is charged al 2.5%.
21. Stst•mont of fund•
Si•t•m•nl ol lund•~ ¢urr•nt y••i
Fund•
G•ln• I
Lo•8•• 30109nO23
£000
£000
01110r1022
£000
Income
Exp•ndhur•
£000
£000
£000
D••l9n•tad lund•
D•slgn•t•d Fund8
140
22
67
95
G•n•rnl fund•
G•noral Fund•
2,351
4,279
19
2.091
Tol•l Unr•$trkted funds
2.491
4.301
4.624
19
Endo4vm•nt fund8
Llbrory Fund
Endowm•nt Fund
383
473
856
oi
390
478
868
14
R••trlct•d fund•
Asplr• Fund
Novu8 Fund
Gon•ialon Loglsiks
HLCP
Conslrudon Log1￿1¢8
66
114
$36
24
{27)
(73)
{660)
(s)
63
151
130
26
125
146
716
125
290
766
365
Totol of fvnds
125
4,606
5.398
24
3,419
Page 31

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
{A Company Llmlted by Guarantm)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Si•t•m•nt of fund•- prfor
Fund8
tr•n•l•r•
£000
Galn• I
Lo•iM 30111912022
£000
£000
01110n021
£000
Income Exp•nd#uw•
£000
£000
D••lgn•t•d lund•
De8lgnal•d Fund8
39
75
49
23
140
G•n•rnl fund•
Gen•fal Funds
Non4h1￿blfj tradlng
nds
2,339
1751
4.239
{4,040)
1229)
2.234
116
2.350
2.4S5
{75)
4.239
{4,0401
{229)
Told Unre8lrlct•d lund8
4,063
229
2.490
EndoThnt luDd•
Llbr•ry Fund
Endowrn•nl Fund
425
516
941
113)
(36)
383
473
856
15
20
80
R••trlct•d
A8plrn Fund
Novus Fund
G•n•r•ilon LoglsNcs
57
130
26
90
748
864
{17}
11061
212
335
114
536
716
187
T¢t•l of fvnd•
Designated funds brought forward relate to tsvo funds for the development and delNery of Education and IT
projects which will assist in the development of CILT programme8 into the future.
Restricted funds
Aspire FurKI- Maintained to provide gr8nls lo a8SiSt Indlvlduals In Ihelr development In logi8tlc8 industy.
Novus Fund.. An lnlllal￿& to develop and deliver a program to allow logi51ics professionals to eam a relevant
8Sc degree.
Endowment funds
The endowment fund, named The Institute of Logistics and Transport Education and Endowment Fund, is to
'advance education in the fielé of logistics and transport by the provision of scholarships and prizes, lectures.
librari85 and such other educational facilities as shall be considered appropriate by the directors" The fund.
which includes a separate Branch for the Library, was 88lablished to gNe the Institule more flexibilty In the use
of the resources available from endowments, both past and present, while continuing to respect the Mshes of
past donors. The fund is managed by the Institute's Remuneration and Awards Committ88, which in tum is
Page 32

THE CHARTERED INST￿l￿E OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlted by Guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
adv18ed on aw8rds and prfzes by a 8peci8llst sU￿¢0MMItte8. Th8 Instllute is the Trustee of the fund.
The endowment fvnd Includes an expendable element of £78k12022 £74k) and a capltal element of £402k
(2022 £473kl.
The library fvnd Includes an expendable element of £28k12022 £23kl and a capltal element of £383k12022
£383k).
Page 33

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Umlted by Guarante?)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Summary offund•
Summary of lund$. ¢¥rrentyear
Balancè at
Bal•nce •t I
O¢tob•r2022
Transf•r
between
funds
Income
EMpendltur•
ILoss•sl SÈpt•mb•r
2023
Designated funds
General funds
Endovfftnl funds
Restricted funds
Restrtcted fund8- HLCP & CL
140
2.351
858
718
22
4,279
14
1671
14,5581
181
17601
95
2,091
19
220
146
3.419
125
125
28
4,806
4,062
{5,3981
24
Summ•ry offunds. prfory••r
Oalafi¢• at I
Octob•r 2021
Tr•nsf•r
nce •t
Insl
30
ILoHesl Sepiember
2022
Incom•
Empendlturn
funds
£000
£0
Deslgnaled fund8
General funds
Endowment funds
Reslrlcted fund5
39
2,455
75
(75}
49
4,239
15
123)
14,040}
120)
335
{4,418)
140
2.351
858
716
4,082
{229}
180}
187
3,822
5,188
(3091
Pag8 34

THE CHARTERED INsT￿UTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Llmlt•d by Guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
23. Analy818 of n•t u••t8 b•tWWb fund•
Analy•ls of not a8•0ts botwoen fund•- curr•nt y•ar
Unr••trlctad Ro•lrlct•d Endowffl•nt
funds
fund•
fund•
2023
2023
2023
Total
fund•
2023
£000
£000
£000
Tangible fixed avdets
21
21
Intangible fixod as88ts
192
192
Flxed 888et inve8lmen18
1.788
2,654
Current 888els
1.196
365
1,581
Credllcrf8 due within one year
19721
{9721
Bounce b8ck loan
1371
(371
Total
Page 35

THE CHARTERED INSTITiifE OF LOGISTIC8 AND TrANSPORT IN THE UK
(A Company Limit•d by Guarant•el
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Analy¥ls of net 4uet8 b•tw••n funds- prlor y•ar
Unr•strlct•d R￿trIcI•d Endowm•nt
fund8
funds
fund8
2022
2022
2022
Total
fund8
2022
£000
£000
£000
Tanglble fixed a88e18
37
37
Intanglble flxed 888ets
253
253
Flxed a88el Investments
1596
856
2452
Current 888818
1732
716
2448
Creditors due within one year
11,0931
11,093)
Bounce back loan
135)
{351
Total
71
406
24. RKonclllatlon ol n•t mov•mont In fund• to n•t ca•h flthv from op•ratlng actlvltl
2023
£000
2022
£000
Net Income for the year {a$ per Slalemenl of Flnanciql Actlvitlesl
{843)
441
AdJu•lm•nts for:
Depreciation charges
Amorti8alion charg88
43
L08ses on Investments
1231
376
DivKlend5, interests and rents from inveslment5
159)
162)
L055 on the Sale of fixed assets
Increase in debtors
156)
(127)
Increa8elldKr8ase) in creditors
{1191
72
N•t cuh provld•d byl(us•d In) oporatlng actlvlti
Page 38

THE CHARTERED INSTrruTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limit•d by Gu•rant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
25. Analy•ls of ¢a•h and ca8h oqulval•nts
2023
£000
2022
£000
Cash at bank arKI in hend
959
1,902
Total ¢￿h and rA•h •qulval•nts
26. P•n•lon ¢ommltm•nt•
The Chartty operates a defined conlrlbuts'on pension scheme. The assets of the scheme are held
88parately from those of tha Charity In an independently administered fund. The pension c08t
charge repre86nts ¢ontrlbulion8 payable by th8 Group to the fund and amounted lo £202k12022'.
£169kl.
27. Op•rallng l•a•• ¢ommltm•nts
At 30 September 2023 the Charlty had commllm8nl8 to mak• future mlnlmum lea8è payment8 under
non-canc8llabl8 operating18ase8 as follows..
2023
2022
£000
Not later than 1 year
73
Later than 1 year and not later than 5 years
91
28. R•latod party transactlono
The Institute has taken advantage of the exemption available in accordance with FRS 102 section 33
'Related Party Disclosures, not lo disclos8 the transactions entered into beiween members of the Group.
The Institute is the UK"Nalional Council. of the Chartered Institute of Logistics and Transport ICILT). CILT
is the body wh￿h holds the Royal Charter and has worldwtde membership of approxlmately 30,000
professionals connected with logisllcs and transport Industrth.
In common with other Councils of GILT the Institule pakl an annual fee based on a combination of
memt*rship numbers and irwme of£59k (2022.. £53k).
Page 37

THE CHARTERED INSTITUTE OF LOGISTICS AND TRANSPORT IN THE UK
(A Company Limil•d by Guarantw)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED SO SEPTEMBER 2023
Dudng the year the Instllute provided CILT wlth Business Services for which they were paKI £74k {2022'.
£60kl.
During the year th8 In8tllute rKovlded CILT ￿th Educatlonal Llcences for whlch they were paid nll (2021..
Page 38