2023-12-31-accounts

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Company number: 03597005 Charity number: 1076690

International Water Association

Report and financial statements For the year ended 31 December 2023

International Water Association

For the year ended 31 December 2023

Trustees’ annual report .....................................................................................................................3 Independent auditor’s report ......................................................................................................... 19 Statement of financial activities (incorporating an income and expenditure account) ...................22 Balance sheet ............................................................................................................................... 23 Statement of cash flows ................................................................................................................24 Notes to the financial statements ................................................................................................. 25

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Trustees

Thomas Mollenkopf AO (President, Chair) Kalanithy Vairavamoorthy (Executive Director) Marie-Pierre Whaley (Senior Vice President) Daniel A. Nolasco (Vice President) Teodor Popa (Treasurer) Rose Kaggwa Walter Kling Sankaralingam Mohan María Molinos-Senante Elisabeta Poci Harsha Ratnaweera Satoshi Takizawa Peter Vanrolleghem Xiaochang Wang Hamanth Kasan (President-Elect)

Company registered number 03597005 (England & Wales)

Charity registered number

1076690 (England & Wales)

Registered Office

1.04 & 1,05 Export Building, Republic, 1 Clove Crescent, London E14 2BA, UK

Company Secretary

Mr Satkunam Murugathas

Executive Director

Dr Kalanithy Vairavamoorthy

Independent auditor

Sayer Vincent LLP, Invicta House, 110 Golden Lane, London EC1Y 0TG, UK

Principal Bankers

HSBC Bank Plc, London SW1H 0NJ, UK

International Water Association

Trustees’ Report

For the year ended 31 December 2023

The IWA Trustees (who are also Directors of the charity for the purposes of the Companies Act) present their annual report together with the audited consolidated financial statements of the International Water Association (the 'Association' or 'IWA') for the year ended 31 December 2023.

The Trustees confirm that the annual report and financial statements of the Association and the group comply with:

a) the current statutory requirements;
b) the requirements of the Association, and the Association's governing document; and
c) the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

1. OBJECTIVES AND GENERAL ACTIVITIES

Objectives of the Association

These are to:

(a) promote the art and science of water management for the public benefit, particularly, but not exclusively, by the encouragement of education, training, study, and research in water management and the publication of the useful results of such research;
(b) advance the education of members of the public in the science and practice of water management;
(c) promote and enable the development and direct provision of water management schemes worldwide for the public benefit, where "water management" means the establishing, maintaining, and securing of safe and sustainable water supplies, storm water systems, and wastewater treatment and disposal systems.

Strategies for achieving objectives

The Association fulfils its objectives by:

(a) holding a World Water Congress and a Water and Development Congress in alternate years in different continents of the world;
(b) holding worldwide regional and specialised conferences, seminars, webinars, and workshops, providing a continual source of knowledge and information;
(c) publishing a range of books, journals, and reports; and
(d) promoting multi-level collaboration amongst its members and others through, for example, specialist groups, task forces, forums, regional associations, projects, and programmes.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Activities for achieving objectives

The Association continues to develop as the global reference point for water professionals working on all aspects of the water cycle. IWA helps water professionals deliver innovative, pragmatic, and sustainable solutions to challenging global needs for safe water and sanitation, within urban areas and river basins.

IWA is a unique global knowledge hub for water professionals, and anyone concerned about the future of water. As such, IWA continues to inspire change towards our common vision of a water-wise world.

Through the Association, members collaborate to lead the development of effective and sustainable approaches to water management, with emphasis on the science and management of drinking water, wastewater, stormwater, and the conservation of water resources throughout the world.

IWA’s Water and Development Congress & Exhibition is an important component of its activities for achieving its objectives. This event has a particular focus on the needs of and potential solutions relevant to low- and middle-income countries, serving as a platform for networking for water sector professionals from such countries. The Association delivered an extremely successful edition of this event, held in Kigali, Rwanda, in December 2023.

More generally, the Association continued to maintain close working relationships with major international water agencies and associations, partnering with these bodies, and engaging members, on joint projects, publications, and representation of positions in international forums.

The Association has a strong and developing outreach programme concerned with the transfer of knowledge and skill in water management from professionals across all countries. With members engaged in the delivery of this programme, it maintains a strong focus on environmental health, hygiene, and sanitation issues in lowerincome countries.

Main charitable activities for the public benefit

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 and have taken due regard to the Charity Commission's general guidance on public benefit.

This is achieved by the generation and dissemination of knowledge and best practices on all facets of the water cycle. This occurs formally at conferences, facilitated exchanges through the Specialist Groups, Task Forces, and other member networks (such as the Young Water Professionals) and through the journals, books and other publications produced by the Association.

Activities during 2023 with a particular relevance to public benefit included contributions through various initiatives and programmes. These included the focus on sanitation, especially the need for progress in lowand middle-income countries, provided in particular through IWA’s Inclusive Urban Sanitation (IUS) initiative. At the same time, climate change has already had and will increasingly have a significant impact on utilities' ability to provide safe water and sanitation services while also protecting people and assets. In this context, progress with IWA’s Climate Smart Utilities initiative during 2023 is of note. This included extension of a dedicated Recognition Programme to inspire progress for utilities in low- and middle-income countries. All activities are described in more detail in the relevant sections below.

Open Access publishing and the public benefit

In 2023, continued impacts of the move of journals to Open Access were seen, including a 55% increase in the total number of citations progress, and work continued to increase the diversity and representativeness of journal editorial teams, which has seen editorial board membership from Africa, Asia, the Middle East, and Latin America grow by 141% between 2018 and 2023. Meanwhile, 70% of book titles published were Open Access.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

2. GROUP STRATEGIC OVERVIEW

A successful year marked another significant chapter in IWA's journey, building on the successes and momentum achieved in 2022 as the world emerged from the global pandemic.

One highlight was the Association’s annual Governing Assembly, held this year in Bordeaux, France in September 2023. The Governing Assembly saw excellent participation and representation of its 61 Governing Members. The Governing Assembly’s business included voting on the next President of IWA. As a result of this vote, IWA is able to welcome Dr Hamanth Kasan of South Africa as its President-Elect. Dr Kasan will take up the role of President at the end of the World Water Congress & Exhibition in Toronto, Canada in August 2024. Dr Kasan brings a wealth of experience, leadership, and international connections to the position, with involvement with the Association extending back some 35 years.

An important development for 2023 was the launch of the IWA Connect Plus membership platform at the start of the year. This powerful new resource has been launched to support global networking, the hosting and sharing of thousands of items of content mainly from IWA events, and the management of IWA’s many member groups, among other features. Its use as the registration platform for key IWA events was also introduced during the year. In all, the platform gathered some 75,000 visits during its first year of use.

A standout event of the year was the 2023 IWA Water and Development Congress & Exhibition held in Kigali, Rwanda, on 10-14 December. With nearly 3000 water and development professionals, organisations, visitors, and companies in attendance, this Congress can be seen as IWA’s most successful in this event series yet. Under the theme 'Water, sanitation, and climate resilience – keys to a water-wise future', the Congress provided an excellent platform for dialogue, collaboration, and knowledge exchange. It was very much by and for those from low- and middle-income countries, with a particular focus on addressing pressing challenges in Africa.

The Congress also offered an opportunity for IWA to feature important programmes and initiatives, including the Inclusive Urban Sanitation and Climate Smart Utilities initiatives, among others.

During the year, IWA made significant strides in advancing diversity, equity, and inclusion through various actions and partnerships, reinforcing its commitment to fostering a more inclusive water community. Notably, the addition of seven new Governing Members marks a significant expansion of IWA's global network and influence. This diverse representation strengthens IWA's ability to address water challenges on a global scale, fostering collaboration and innovation across regions.

Important progress in IWA’s youth-related activity included the establishment of the Emerging Water Leaders Endowment Fund that will support the IWA Emerging Water Leaders Scholarship Programme. The year also witnessed the successful expansion of the Young Water Professionals Community, with the addition of five new Country Chapters globally. Also, 13 young professionals were able to participate in the UN Water Conference in New York under the Youth Action for SDG 6 Fellowship.

2023 was therefore a year of substantial progress and impactful engagement, reflecting IWA's commitment to addressing global water challenges and driving positive change in the water sector.

Overall, the Association continued to advance its core mission, visible through our diverse activities and a strong membership base that broadly remained steady in terms of membership numbers. This progress was supported by IWA’s strong foundations, which are based on financial prudence and the commitment of all the many people involved – i.e., the Board, staff, members, and partners.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Key financial performance indicators

The consolidated financial statements, as presented, comply with the legal requirements of both the Charity Commission and the Companies Act.

Income from charitable activities was £2,055,802 (2022: £6,255,611), with the decline on the prior year reflecting the Association’s normal two-year income cycle. Other income, including income from trading activities, investments, and other sources, was £4,124,448 (2022: £4,258,756) giving total income for the year of £ 6,180,250 (2022: £10,14,368).

After making provision for gain on investments of £67,992 (2021: Loss £187,827) the net reduction in group funds was £327,741 (2022 increase of: £1,415,622) providing closing group funds as of 31 December 2023 of £ 3,979,040 (2022: £4,306,781).

3. ACHIEVEMENTS AND PERFORMANCE

Programmes

2023 was an extremely successful year for IWA’s Programmes, with significant progress for several key initiatives. Launched at the 2022 IWA World Water Congress & Exhibition, the Inclusive Urban Sanitation (IUS) initiative gained greater momentum in 2023 through various engagement efforts and further promotion of its #SanitAction campaign. In particular, a number of key milestones were achieved during the 2023 IWA Water and Development Congress & Exhibition (WDCE).

A prominent feature in the WDCE programme was the day-long IWA High-Level Sanitation Summit. This provided a pivotal engagement platform for politicians and policymakers to underscore the imperative of shaping policy and action. Meanwhile, the Innovation Acceleration Forum and SanitAction Innovators Expo held there provided a unique platform for innovators to display their solutions and prototypes. The summit brought together innovators, government officials, utilities, city managers, and practitioners to explore innovative solutions and thinking around the sanitation agenda, with a special focus on Africa and its unique challenges.

The seven winners of the inaugural Inclusive Urban Sanitation Champions Programme were announced during the closing ceremony of the WDCE. This programme, aimed at acknowledging outstanding contributions towards achieving SDG 6.2 in low- and middle-income countries, received an excellent response, with 106 submissions from 21 countries. A distinguished 13-member expert jury evaluated these submissions, highlighting initiatives that advanced sustainable and inclusive sanitation practices. The Champions Programme is structured into seven categories, with one winner selected for each category.

The IUS initiative also presented a new publication at the WDCE. The white paper ‘Sanitation Financing in Eight South Asian and Sub-Saharan African Cities’ aims to shed light on critical aspects related to utility and government financing for urban sanitation. Focused on eight cities across Sub-Saharan Africa and South Asia, the publication covers several important themes, including the types of policies influencing finance allocation within the sanitation sector, resource sufficiency and gaps, equitable allocation to marginalised communities, and financial monitoring, and contributes to the ongoing dialogue on sustainable sanitation practices.

Across the rest of the year, the establishment of a diverse Advisory Board and Task Force, along with the formation of strategic subgroups, underscored the IUS initiative's commitment to addressing urban sanitation challenges comprehensively. Moreover, the initiative remains committed to knowledge generation and dissemination, evidenced by the publication of 35 high-impact case stories, a discussion paper, and an article in IWA’s magazine, The Source . Additionally, the initiative organised three strategic IUS webinars, furthering its reach and impact, and forged new institutional partnerships as shown by the signing of MoUs with two South Asian institutions, ASCI (India) and ITN BUET Bangladesh, during the WCDE.

The Climate Smart Utilities initiative continued its leadership efforts around climate change and water and sanitation services. A key highlight for the year was the second edition of the Climate Smart Utilities Recognition Programme at the WDCE. This honoured 20 utilities in low- and middle-income countries for their innovative efforts in building a lowcarbon water and sanitation sector. Support for participation by utilities in low- and middle-income countries was received through a collaboration with the World Bank’s NewIBNET benchmarking initiative.

In September 2023, the IWA Climate Smart Utilities GHG sub-group released a new short guide titled ‘Greenhouse Gas

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Emissions and Water Resource Recovery Facilities’. This guide draws upon recent research and publications, emphasizing the importance of life cycle carbon accounting and wider life cycle assessment. It serves as the first instalment in a series focusing on GHG emissions, monitoring, and mitigation in wastewater treatment.

The initiative conducted workshops at both the UN-Water Conference and the Bonn Climate Conference in 2023, in addition to organising a webinar series showcasing Danish national monitoring programmes and initiatives undertaken by utilities. Furthermore, two Community of Practice meetings, attended by 70 participants, delved into discussions on trends in N2O off-gas monitoring in wastewater treatment.

In 2023, the Digital Water Programme (DWP) went from strength to strength, underscoring the pivotal role the programme is increasingly playing in supporting the advance of digital transformation within the water sector. The programme led delivery of the 2[nd] Digital Water Summit, held in Bilbao in November. Further activities under the programme included the launch of several initiatives spotlighting members, including multiple newsletters, podcasts, and blogs underscoring our commitment to knowledge exchange and collaboration within the digital water community.

IWA’s Operations and Maintenance Network (OMN) achieved a significant milestone in 2023 with the launch of the second edition of the Water Safety Plan manual in collaboration with the World Health Organization (WHO). The launch event convened experts and stakeholders from around the world to discuss the importance of water safety planning and share insights and experiences gained over a decade of practical implementation.

Also, IWA’s Specialist Groups (SGs) continue to serve as dynamic hubs of expertise and innovation, driving forwardthinking research and solutions in various domains of water management. In 2023, SG-related developments included the launch of a Cluster on wastewater-based epidemiology and the establishment of the new SG on Sustainable Coastal and Estuarine Development. Throughout the year, SGs organised 23 conferences, conducted over 20 online webinars, and delivered various presentations during the IWA Water and Development Congress & Exhibition. Also, SG leaders actively participated in the first online SG Leaders Forum, focusing on enhancing engagement among SGs.

Events

The year saw what can be regarded as IWA’s most successful Water Development Congress & Exhibition (WDCE) to date. Held on 10-14 December 2023 at Rwanda’s iconic Kigali Convention Centre, the event brought together almost 3000 water and development professionals, organisations, visitors, and companies, primarily from low- and middleincome countries.

The Congress set a benchmark for IWA’s growing presence and support for the sector in Africa, reflecting the critical role of the continent in IWA’s future. With a theme focused on ‘Water, Sanitation, and Climate Resilience – keys to a water-wise future’, the Congress featured an extensive programme, including keynotes, technical sessions, workshops, and five important forums.

Keynote speaker Mathi Vathanan, Principal Secretary from the Government of Odisha in India, set the tone by sharing insights into his state’s successful transition to 24/7 water systems, prioritising the importance of the urban poor and engaging women water teams.

Sanitation and climate resilience were key topics throughout the event, with highlights including the High-Level Summit on Sanitation and the second edition of IWA’s Climate Smart Utilities Recognition Programme.

The success of the event was made possible through collaboration with local, regional, and global partners, especially the Government of Rwanda and utility WASAC Group, who provided invaluable support. The event also saw the announcement of the winners of the prestigious Water and Development Awards 2023 (see later section).

There was participation of delegates representing 85 countries, well over 100 exhibitors, and a comprehensive programme including 39 technical sessions with almost 160 papers and 42 workshops. The special forums were: the High-Level Sanitation Summit; the Innovation Acceleration Forum; the Utility Leaders Forum; the International Water Regulators Forum; and the Emerging Water Leaders Forum. As such, the event provided an outstanding platform focusing on the challenges and opportunities faced by low- and middle-income countries.

The 19[th] edition of IWA’s Leading Edge Conference on Water and Wastewater Technologies was held in Daegu, South Korea on 29 May to 2 June 2023. The successful event saw an impressive turnout, drawing more than 300 participants from 36 countries. This prestigious event served as a platform for the dissemination of cutting-edge research and insights in water and wastewater technologies, featuring 67 top-tier presentations and showcasing more than 100 posters highlighting the latest innovations and findings in the field.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

IWA’s programme of events for the year also included a highly successful second edition of the Digital Water Summit, held once again in Bilbao Spain. This is focused as a business-to-business event with programme content and structure designed to connect solutions providers and end user water utilities. The event garnered significant attention, with nearly 400 delegates convening to explore the latest innovations and strategies in digital water management.

A further important event-related development was the selection during the IWA Board and Governing Assembly meetings held in September of Kuching, Malaysia and São Paulo, Brazil as the locations for the World Water Congress & Exhibition editions to be held in 2028 and 2030, respectively.

The Source magazine

The Source is IWA’s quarterly magazine, delivered both in print and online. It is available to all IWA members as a benefit of membership.

The content of the magazine is specifically intended to reflect IWA’s goal of inspiring a world in which water is wisely managed. It therefore offers features, viewpoints and updates to help readers keep up to speed with the issues that shape the sector and the progress in response to these topics.

Topics covered in detail in 2023 included: experiences of implementing city resilience in New York; the opportunities presented by digital technology for IWA’s development; a leading example from Hong Kong of the use of wastewater based epidemiology as a means of informing public health measures; thinking on the opportunities to progress inclusive urban sanitation; how decentralised approaches offer ways to overcome barriers to access to services; alternative, circular paths for wastewater treatment; progress with improving the sustainability of desalination technologies; and the potential for contract frameworks to support improvements in operations and maintenance.

IWA Publishing

In the third year since the strategic transition to Open Access, IWA Publishing continued to see the impacts of this transformation in 2023.

As of 2023, all IWA Publishing journals have Impact Factors. The median Impact Factor of the journals increased by an average of 3%. The journals outperformed other journals in the JCR Water Resources category by 15.4%. More than half of the journals moved up a quartile, with seven now placed in Q1 or Q2.

The total number of papers published increased from 1636 to 1756, while the total number of citations increased from 5067 to 7828. This impressive 55% growth in citations and the high quality of the journals are thanks to the continued hard work, dedication, and valuable research of our authors and editors.

Work continues to increase the diversity and representativeness of IWA Publishing Journal Editorial teams. Between 2018 and 2023, Editorial Board membership from Africa, Asia, the Middle East, and Latin America grew by 141%. These engagement initiatives will carry on in future years. One of the key objectives of IWA Publishing’s new Strategic Plan is to ensure that the teams running the journals align closely with the authors who publish in them.

The book programme continued to grow in 2023. 70% of titles published were Open Access, increasing the visibility of the authors’ works. The most notable book published during the year was the second edition of Biological Wastewater Treatment: Principles, Modelling and Design, the updated version of IWA Publishing’s bestselling title.

Young Water Professionals (YWP)

IWA’s Young Water Professionals (YWP) community showed notable growth and impactful initiatives through 2023. With the addition of five new Country Chapters globally, the community continues to expand its reach and influence.

A highlight of the year came as part of the YWP Youth Action for SDG 6 Fellowship, a collaboration with Grundfos. The support enabled 13 outstanding YWPs to attend the UN Water Conference in New York, further enhancing their exposure and engagement in water sector discussions. A further result of the collaboration was a publication by the SDG 6 Fellows launched during the WDCE, aiming to underscore the crucial role young individuals play in the UN 2030 SDG Agenda. It focused on illustrating how the water sector can be revolutionised by their passion and ingenuity.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

A significant milestone in IWA’s youth-related activity was reached in 2023 with the successful establishment of the Emerging Water Leaders Endowment Fund. The fund will support the Emerging Water Leaders Scholarship Programme. The intention to create the programme and fund, and the support of founding donors Glen and Patty Daigger, had been announced at the IWA World Water Congress & Exhibition in 2022. The aim of the fund is to provide a sustainable financial foundation for the future endeavours of the association, playing a crucial role in supporting longterm initiatives and ensuring the continued growth and success of IWA's mission.

The successful staging of the Emerging Water Leaders Forum at the WDCE in Kigali further underscored the commitment and leadership of the next generation in addressing water-related challenges. Lastly, plans to recognise the YWP Chapter of the Year were announced in Kigali, Rwanda, with the inaugural edition slated for celebration during the upcoming Emerging Water Leaders Forum in Toronto in 2024.

IWA Awards

The IWA Water and Development Awards 2023 were announced and presented during the Opening Ceremony of the IWA Water and Development Congress on 10 December in Kigali, Rwanda. The recipients of the IWA Water and Development Awards were Dr Veena Srinivasan for Research and Dr Doulaye Kone for Practice.

These awards honour excellence, leadership, and innovation in the water sector, aiming to promote sustainable water management in low- and middle-income countries. Judged by a diverse panel of experts, they acknowledge outstanding contributions to research or practice that have made a tangible impact in these regions.

In deciding to recognise the achievements of Dr Veena Srinivasan, the judges noted that she demonstrated bravery and passion in her quest to follow an emerging but much-needed knowledge path in socio-hydrology, but also through advocacy for research and the establishment of WELL Labs in Bengaluru, India.

Dr Doulaye Kone of the Bill & Melinda Gates Foundation was lauded for catalysing technological innovations in nonsewered sanitation through the Reinvent the Toilet Challenge and promoting sustainability in faecal sludge management. His visionary leadership has influenced policies and strategies in the water and sanitation sector.

Both winners have extensive experience and have made significant contributions to their respective fields, driving impactful change in water and sanitation.

4. FINANCIAL REVIEW

IWA income is principally based on Gift Aid from its trading subsidiary, IWA Publishing, membership subscriptions and surpluses from its World Water Congress, which is held every two years. Some income is also received through grants and contract income from various organisations. IWA’s income profile tends to fluctuate with surpluses from Congress years used to smooth out lower income in alternate years. 2023 represented an acceptable financial outcome for the group, considering it was a non-World Water Congress year. Additional details on the group's financial results for the year are provided under the section on 'Key financial performance indicators' in Section 2 (page 7). Overall, the result for the year was a deficit of £327,741 (2022: Surplus £1,415,622).

Investment policy and performance

Preservation of capital is the primary objective in guiding the risk profile of the Association’s investment policy. After satisfying the primary objective, the secondary objective is to maximize the return on the investment in accordance with the ethical investment policy. The investment position has been considered from both a Euro and Sterling currency perspective. The group's investments value is £1,251,078 as of 31 December 2023 (2022: £1,164,700). In 2023, there were improvements in performance since 2022 but still falls below benchmark levels.

Assessment of going concern

Trustees are confident that the Association possesses adequate resources to sustain operational continuity for the foreseeable future. This assessment incorporates an evaluation of the reserves as of 31 December 2023, along with financial forecasts extending for at least one year from the approval date of this report and financial statement.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Our reserves remain robust due to favorable outcomes from conferences, sustained membership income, and ongoing publishing income. While publishing income has decreased in recent years, our reserves are deemed sufficient to endure any short to medium-term reduction in publishing revenue or other fluctuations. Management consistently conducts scenario analyses to evaluate potential impacts on our reserves. These assessments, combined with prudent financial management practices, ensure our resilience against unforeseen challenges. Despite fluctuations in publishing income, our medium-term financial outlook remains secure. We do not currently anticipate that the overall financial position of the group will be adversely affected, or its financial solvency threatened.

Reserves policy

IWA’s Reserves Policy aims to strike a balance between utilizing the maximum portion of its income to fulfil its charitable objectives and maintaining an adequate level of reserves to ensure uninterrupted operations and provide a buffer to adapt to changes in financial circumstances.

A target range has been adopted for the Association’s reserves, with the higher amount indicating the aspirational level of reserves, and the lower amount indicating the minimum level of reserves that should not be breached. The Board reserves the right to adjust the reserves level based on anticipated future strategic investment needs.

IWA Reserves Target Range: £1.38M - £1.80M

This proposed target range for reserves is deemed appropriate as it strikes a balance between the income needs to fulfil our charitable objectives the necessity to uphold operation as a going concern. It reflects IWA’s business model and considers the potential financial impact of key risks. Given the inherent nature of our operation, flexibility within the range of the reserves is essential.

The group free reserves as of 31 December 2023 are at the level of £ 2,329,511 (compared with 2022: £2,657,031). This is above the intended target range however the Board considers that it is appropriate to hold an additional buffer for future strategic investment needs.

The target range for reserves aims to ensure financial stability, operational resilience, and the ability to fulfil our charitable objectives effectively.

This Reserves Policy will be reviewed periodically and adjusted as necessary to align with the evolving needs and circumstances of IWA.

Principal funding

Principal funding sources for the charity are membership, conferences, Gift Aid Income from its wholly owned subsidiary IWA Publishing Limited and IWA Conference Limited, and grant and contract income from various organisations. The group does not work with any commercial or professional fundraisers and does not solicit donations from the public.

5. RISK MANAGEMENT

The Trustees have assessed the major risks to which the group is exposed, those related to the operations and finances of the Association. They are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

The Board recognises the importance of identifying and managing the risks of the Association and its subsidiaries. A risk management framework, which includes a risk and control register, identifying and prioritising the Association's key risks, is maintained. The register includes a programme of control measures and actions to manage material risks. The risk register is reviewed and updated quarterly by the management. A risk report is presented to the Finance and Investment Committee at the following meeting to discuss the basis for any movements in the risk register, and any “emerging risks”, and to confirm the summary which will be presented at the next board meeting. Twice per year, the Board is informed on the status of the risk register and the related mitigation measures.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Key internal risks for the Association include:

a) Reduction in Gift Aid from IWA Publishing leading to lower revenues to support IWA’s charitable activities:
b) Overall financial resources will not keep pace with globally expanding IWA roles and responsibilities and associated activities in line with IWA’s 2019-2024 Strategic Plan
c) Breaches in the security of the IT systems including hacking, unauthorised access, fraud, permanent damage to electronic data, and manipulation of key data.
d) Business disruption caused by loss of key staff.

Key external risks to the Association include:

a) Reduction in income due to renegotiation of publishing partnership agreement on less favorable terms
b) Reduction in income from changes in the publishing landscape and the possible need to transition to a new business model.
c) Disruption to or reduced income from World Water Congresses.
d) Risk related to rent review after 5 years (May 2025) leading to significant cost increase.

Financial risk management objectives and policies

The management team reviews, on behalf of the Board, matters concerning accounting, financial reporting, and internal controls, including the risk register. It also reviews the management accounts and the annual report and financial statements before they are submitted to the Board of Trustees and deals directly with the external auditor regarding the conduct of the audit.

6. STRUCTURE, GOVERNANCE, AND MANAGEMENT

7. Constitution

The Association is constituted under a Memorandum of Association dated 13 July 1998 and is a registered charity (number 1076690). The Articles of Association were most recently revised in September 2020 to authorise virtual general meetings. Liability of the members is limited by guarantee and the Association does not have share capital. Members of the Association guarantee to contribute an amount not exceeding £1 in the event of a deficiency of assets on winding up. The total number of such guarantees on 31 December 2023 was 14 (2020: 15)

Method of appointment or election of Trustees

The management of the Association is the responsibility of the Trustees who are elected and appointed under the terms of the Articles of Association. As noted earlier, the Trustees also constitute the Board of Directors for the purposes of the Companies Act.

The President and Vice Presidents are elected, and the other Trustees (other than the Executive Director) are appointed, in each case for a two year term, at an Annual General Meeting of the Association.

Policies adopted for the induction and training of Trustees

The Board of Directors has adopted a programme of trustee training which covers existing and new Board members. New Trustees attend an induction programme and a formal training session covering governance and trustees' legal responsibilities. New Trustees are provided with an induction pack that covers their general duties as well as a briefing on IWA-specific matters such as Strategic and Business Plans, financial reports, governance documents, and other relevant reports. All Board members attended a training session on the Duties and Responsibilities of Directors and Trustees in February 2023.

Organisational structure and decision-making

The Board of Directors is responsible for the management of the affairs of the Association. It sets the strategic direction of the Association, appoints the Executive Director (also a Trustee), and provides financial and programme oversight to the Association. The Board generally meets at least four times each year. The four meetings in the year were in London (February 2023), Toronto (May 2023), Bordeaux (September 2023) and by video (December 2023).

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Additional meetings of the Board may be called as required, and the Articles of Association allow for written resolutions to be circulated for approval. Board Committees (see pages 14 and 15) support the Board in its role.

The Board of Directors

The names of the individuals serving on the Board, at any time during the year of report and up to the date of approval of this report, are as follows:

Thomas Mollenkopf AO (President, Chair) Kalanithy Vairavamoorthy (Executive Director) Marie-Pierre Whaley (Senior Vice President)

Daniel A Nolasco (Vice President) Teodor Popa (Treasurer) Rose Kaggwa Walter Kling Sankaralingam Mohan María Molinos-Senante Elisabeta Poci Harsha Ratnaweera Satoshi Takizawa Peter Vanrolleghem Xiaochang Wang Hamanth Kasan (President-Elect, appointed on 16 September 2023)

International Water Association

Trustees’ Report

For the year ended 31 December 2023

The Board of Directors (continued)

The Board comprises elected officers and other officeholders. Under the Articles of Association, all Board members (except the Executive Director) serve two-year terms. The elected officers (President and two Vice Presidents) generally serve for a single term of two years but may be re-elected to serve a second term. The other officeholders will usually serve two terms on the Board, aside from the Immediate Past President, who is limited to a single term.

The Board nominations process is overseen by the Governance and Nominations Committee and, to the extent possible, a practice of rolling retirements is adopted to maintain continuity on the Board.

By accepting to serve on the Association’s Board, Trustees commit to conduct themselves in accordance with the highest ethical standards in carrying out their responsibilities. The Board has therefore adopted an internal Code of Conduct, which provides ethical standards and criteria. All Board members are required to adhere to the Code in the performance of their responsibilities to the Board.

Governing Assembly

The Governing Assembly is comprised of the representatives of the Governing Members around the world, each of whom is entitled to appoint three representatives to the assembly.

The Governing Assembly meets at least annually and is responsible for electing the Officers of the Association and appointing other Office holders and approving constitutional changes. As mentioned above, the 2023 AGM and Governing Assembly were held in Bordeaux, France on 16 September 2023, in accordance with the articles of association. The Governing Assembly ensures that the interests of members – including Individual, Corporate and Governing Members – are represented and it provides oversight and input into the Association’s overall direction. The Governing Members of IWA represent the core mechanism for national and regional interaction with members across a range of issues.

Key Committees and Strategic Council

The Association has established a number of key Committees and a Strategic Council, each of which plays a specific role in the Association’s governance or activities. Further details on the Strategic Council and the various Board Committees are provided below.

Finance and Investment Committee

Teodor Popa (Treasurer) chairs the Finance and Investment Committee. Other members of the committee are Hamanth Kasan (President-Elect), Marie-Pierre Whaley (past Treasurer) (resigned 24[th] February 2024), and Mr Matthew Woolcock (Member nominated). Mr Thomas Mollenkopf (President) and Dr Kalanithy Vairavamoorthy (Executive Director) are ex officio members. It reviews, on behalf of the Board, matters concerning accounting, financial reporting and internal controls, including the Risk Register. It also reviews the management accounts and the annual report and financial statements before they are submitted to the Board of Trustees and deals directly with the external auditor regarding the conduct of the audit. It also, on behalf of the Board, sets the Investment Manager’s mandate and monitors performance on a quarterly basis.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

The Governance and Nomination Committee

Marie-Pierre Whaley (Senior Vice President) chairs the Governance and Nomination Committee. Other members of the committee are Rose Kaggwa, Walter Kling, Elisabeta Poci, Satoshi Takizawa and Yang Villa. Thomas Mollenkopf (President) and Kalanithy Vairavamoorthy (Executive Director) are ex officio members. The Committee advises the Board on corporate governance matters for the Association, including its subsidiaries, committees, and other Association entities; assists the President or the Board to ensure that appropriate individuals are selected for various Association entities; and defines and revises the processes for choosing the nominees and winners of the different awards of the Association.

The Membership and Engagement Committee

Daniel A Nolasco (Vice President) chairs the Membership and Engagement Committee. Other members of the committee are Ed McCormick, Sankaralingam Mohan, María Molinos-Senante, Harsha Ratnaweera and Xiaochang Wang. Thomas Mollenkopf (President) and Kalanithy Vairavamoorthy (Executive Director) are ex officio members. The Committee provides necessary policy oversight concerning the Association members, their expectations, and their participation follows the effectiveness of the recruitment process, discusses new schemes of membership, discusses the communications policy towards different segments of members, and the schemes of honours and awards.

Strategic Council

The Strategic Council plays two key roles within the Association. It provides strategic input to the Association’s Board of Trustees and Governing Assembly. In addition, it provides guidance and assistance to the Association in the development of new activities and in the coordination of key existing activities.

Key management personnel

The IWA Management Team, led by the Executive Director Kalanithy Vairavamoorthy, comprises several Directors: Varghese Babu (IT & Digital Transformation Director); Daniela Bemfica (Strategic Programmes & Engagement Director); Keith Hayward (Marketing & Communications Director); Tao Li (Strategy & Development Director);; Kizito Masinde (Events and Awards Director); Satkunam Murugathas (Finance Director & Company Secretary); and Keith Robertson (Operations Director).

The Trustees consider that they, together with the IWA Management Team, comprise the Association’s key management personnel, in charge of directing and controlling the charity.

Except for the Executive Director, none of the Trustees are remunerated for their services to the charity. The Executive Director is remunerated (as permitted under clause 5.2 of the charity's memorandum of association) for his role as Executive Director. The Executive Director's remuneration is set by the non-executive members of the Board based on benchmarking of similar international roles in the charity or NGO sector and having regard to prevailing market rates.

The remuneration of the members of the IWA Management Team is determined in line with those of other personnel within the group. Pay is determined by the Executive Director based on industry benchmarking of similar international roles in the Charity or NGO sector.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

IWA Publishing Limited

The Association has a wholly owned subsidiary, IWA Publishing Limited (IWAP), the principal business of which is the provision of publishing and information products and services to the international water supply and wastewater market. This includes the production and distribution of various publications of the Association. Profits are transferred to the Association by way of Gift Aid. The financial results and year-end position of the subsidiary have been incorporated in the consolidated financial statements accompanying this report.

Other related companies

In India:

IWAT Science and Technology Private Limited
IWA also owns the following companies in full, which have remained dormant since incorporation:
IWA – Conferences Limited
IWA Solutions International Limited
IWA Global Enterprises Limited (previously named Aquarating Limited)

IWA also created NGOs in Kenya - called IWA Africa - and in India - called IWAI Water Foundation. Both have remained dormant since their creation.

8. FUTURE PLANNING

IWA’s 2019-2024 Strategic Plan has been in operation following its adoption at the Governing Assembly held at the 2018 IWA World Water Congress & Exhibition in Tokyo. This plan remains effective as the strategic foundation for the day-to-day activities of the organisation. We are actively progressing further implementation of the plan, working with our members, strengthening our Association’s membership value, providing insights into trends for the sector and beyond, being a platform for members to exchange knowledge and accelerate the diffusion of innovation, and collaborating on opportunities to address the SDG challenges.

Alongside continuing with implementation of the current plan, a new Strategic Plan for 2025-2030 will be developed during the year. The development and adoption of the new plan will be overseen by the IWA Board of Directors.

Importantly, the current IWA Strategic Plan refers to diversity. This is backed by a strong Board-level commitment to champion diversity throughout the organisation. Actions to progress diversity include working across the Association’s many structures, rotating roles to extend this diversity, and monitoring our progress. For 2024, IWA anticipates being able to further progress its plans of achieving more comprehensive progress on diversity. Leveraging the success of the 2023 Water and Development Congress & Exhibition in Kigali, Rwanda, this will be especially in terms of supporting and securing more equal participation by low- and middle-income countries, as well as individuals and organisations from these countries, with the support of funding received from the Bill & Melinda Gates Foundation.

Likewise, there is a great need for more rapid progress with inclusive urban sanitation, particularly in low- and middleincome countries. Continuing work with the Inclusive Urban Sanitation initiative will advance creation and uptake of a framework with broad practical application to define global goals and the core principles of a public service approach to outcomes that can advance inclusive urban sanitation, particularly in low- and middle-income countries.

We will also continue to work to make our published material more easily accessible online and available in different languages, to enhance our contribution to resolving water challenges around the world. This will be done by building on the progress with Open Access achieved during 2021-2023.

In addition to this, IWA officially launched its new digital membership platform, IWA Connect Plus, at the start of 2023. This platform improves on core needs, such as membership administration. It also provides the basis for enhanced and expanded functionality in terms of information sharing and networking, strengthening IWA’s membership offering. During 2024, we will work to widen the benefits achieved with the platform, especially in terms of its use by key

International Water Association

Trustees’ Report

For the year ended 31 December 2023

communities such as our Governing Members and Specialist Groups.

Five-year goals

The Strategic Plan is based on the following five commitments for the IWA to achieve over the coming five years:

1. An engaged and balanced membership - The IWA will have an engaged membership that is globally representative of the multiple segments, actors, and practice areas of the water sector.

2. A source for leading-edge water knowledge - The IWA will have strengthened our position as an authoritative source and a global reference point for water knowledge, addressing and informing on emerging and potentially disruptive trends within the sector and the wider world.

3. A space for professionals to exchange water knowledge - The IWA will have provided a broad range of professional content and programming that is relevant and widely valued by the water sector worldwide.

4. A bridge between research and practice - The IWA will play a pivotal role in bridging the chasm between research and practice to accelerate the development and diffusion of innovation in the global water sector.

5. Support to the implementation of SDGs - The IWA will support and promote the Sustainable Development Goals and strengthen the sector through professional and capacity development so that people and countries can pursue their ambitions in relation to water-related SDGs.

8. TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees (who are also Directors of the International Water Association for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the group and of income and expenditure of the group 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 Accounting and Reporting by charities;
make a Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Report Standard applicable in the UK and Republic of Ireland (FRS 102);
make judgments and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements;
prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, and regulations made thereunder. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

International Water Association

Trustees’ Report

For the year ended 31 December 2023

Disclosure of information to auditor

In so far as the Trustees are aware:

there is no relevant audit information of which the group's auditor is unaware; and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

Approved by the Trustees and signed on their behalf by:

Mr. Thomas Mollenkopf AO President and Chairman

Approved on: 29 May 2024

Independent auditor’s report

To the members of

International Water Association

Opinion

We have audited the financial statements of International Water Association (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2023 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 December 2023 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011

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 group financial statements section of our report. We are independent of the group and parent charitable company 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 International Water Association'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 other information comprises the information included in the trustees’ annual report, including the strategic report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the group financial statements themselves. 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.

Independent auditor’s report

To the members of

International Water Association

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, including the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statements
The trustees’ annual report, including the strategic report has been prepared in accordance with applicable legal requirements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report, including the strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; 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; or

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent 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 auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and

Independent auditor’s report

To the members of

International Water Association

non-compliance with laws and regulations, our procedures included the following:

We enquired of management, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

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 noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available 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 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. 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.

Jonathan Orchard (Senior statutory auditor)

DATE

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 110 Golden Lane, LONDON, EC1Y 0TG

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

International Water Association

Consolidated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2023

Continuing Unrestricted £ 648,451 - 603,091 3,902,360 159,038 - 30,198 30,778 2,074	Restricted and endowment £ - 788,200 16,060 - - - - -	2023 Total £ 648,451 788,200 619,151 3,902,360 159,038 - 30,198 30,778 2,074	Restated Continuing Unrestricted £ 653,149 - 4,039,999 4,006,670 - - 38,518 26,371 145,144	Discontinued Unrestricted £ - - - - - 42,053 - - -	Restricted and endowment £ - 1,562,463 - - - - - - -	Restated 2022 Total £ 653,149 1,562,463 4,039,999 4,006,670 - 42,053 38,518 26,371 145,144
5,375,990	804,260	6,180,250	8,909,852	42,053	1,562,463	10,514,368
10,257 2,068,999 - 1,696,216 468,757 1,173,229 487,150	- - - - - 17,821 654,413	10,257 2,068,999 - 1,696,216 468,757 1,191,050 1,141,563	10,889 2,004,202 - 1,874,032 467,619 3,199,371 596,476	- - 497,762 - - - -	- - - - - - 260,568	10,889 2,004,202 497,762 1,874,032 467,619 3,199,371 857,044
5,904,607	672,234	6,576,841	8,152,589	497,762	260,568	8,910,919
(528,617) 67,992	132,026 -	(396,591) 67,992	757,263 (187,827)	(455,709) -	1,301,895 -	1,603,449 (187,827)
(460,625) 14,045	132,026 (13,187)	(328,599) 858	569,436 53,035	(455,709)	1,301,895 (53,035)	1,415,622 -
(446,580) -	118,839 -	(327,741) -	622,471 -	(455,709) -	1,248,860 -	1,415,622 -
(446,580) 3,012,958	118,839 1,293,823	(327,741) 4,306,781	622,471 2,391,347	(455,709) 454,849	1,248,860 44,963	1,415,622 2,891,159
2,566,378	1,412,662	3,979,040	3,013,818	(860)	1,293,823	4,306,781

Discontinued activities relate to Nanjing operations. All other activites are continuing. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 21a to the financial statements.

International Water Association

Company no. 03597005

Balance sheets

As at 31 December 2023

As at 31 December 2023				Company no. 03597005	Company no. 03597005
		The group	The group	The charity
			restated		restated
		2023	2022	2023	2022
	Note	£	£	£	£
Fixed assets:
Intangible assets	9	13,455	44,190	-	-
Tangible assets	10	223,412	312,595	221,478	312,595
Investments	11	1,251,078	1,164,700	1,401,081	1,314,703
		1,487,945	1,521,485	1,622,559	1,627,298
Current assets:
Stock	14	2,216	52,953	-	-
Debtors	15	2,091,179	2,289,204	1,448,002	1,669,510
Cash at bank and in hand		3,550,617	4,354,381	2,553,157	3,336,724
		5,644,012	6,696,538	4,001,159	5,006,234
Liabilities:
Creditors: amounts falling due within one year	16	(3,032,917)	(3,791,242)	(1,524,678)	(2,205,893)
Net current assets		2,611,095	2,905,296	2,476,481	2,800,341
Total assets less current liabilities		4,099,040	4,426,781	4,099,040	4,427,639
Creditors: amounts falling due after one year	18	(120,000)	(120,000)	(120,000)	(120,000)
Net assets excluding pension asset / (liability)		3,979,040	4,306,781	3,979,040	4,307,639
Defined benefit pension scheme asset	19	-	-	-	-
Total net assets		3,979,040	4,306,781	3,979,040	4,307,639
Funds:	21a
Restricted income funds		666,206	1,293,823	666,206	1,293,823
Endowment funds		746,456		746,456
Unrestricted income funds:
Designated funds		236,867	355,927	236,867	356,785
Revaluation reserve		207,169	139,177	207,169	139,177
General funds		2,122,342	2,517,854	2,122,342	2,517,854
Non-charitable subsidiary funds		-	-	-	-
Pension reserve		-	-	-	-
Total unrestricted funds		2,566,378	3,012,958	2,566,378	3,013,816
Total funds		3,979,040	4,306,781	3,979,040	4,307,639

Approved by the trustees on 28th May 2024 and signed on their behalf by 9

Thomas Mollenkopf President and Chairman

International Water Association

Consolidated statement of cash flows

For the year ended 31 December 2023

For the year ended 31 December 2023
Note Net income for the reporting period (as per the statement of financial activities) Depreciation charges Amortisation charges Gains on investments Dividends, interest and rent from investments Foreign exchange loss (Increase)/decrease in stocks (Increase)/decrease in debtors Increase in creditors Net cash provided by operating activities Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year Change in cash and cash equivalents due to exchange rate movements Cash flows from operating activities Net cash provided used in investing activities Cash flows from investing activities: Investment income Purchase of tangible and intangible fixed assets Proceeds from sale of investments Purchase of investments Finance and administrative costs in respect of defined benefit pension scheme Change in cash held by investment manager Disposal of tangible and intangible fixed assets	£ (327,741) 92,083 30,735 (67,992) (30,778) - 50,736 - 198,025 (758,325) 30,778 (2,900) - 316,293 (347,292) 12,614	£ 2023	restated £ 1,442,961 118,262 69,646 187,827 (26,371) - (144,747) - (555,491) 160,732 26,371 (17,516) 167,517 218,316 (227,611) (6,187)	restated £ 2022
		(813,257) 9,493		1,252,819 160,890

		(803,764) 4,354,381 -		1,413,709 2,940,672 -
		3,550,617		4,354,381

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

1 Accounting policies

a) Company status

The Association is a charitable company limited by guarantee and is incorporated in England.

The registered office address is Export Building, First Floor, 1 Clove Crescent, London, E14 2BA.

b) Basis of preparation and consolidation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

These financial statements consolidate the results of the Association and its wholly-owned subsidiaries IWA Publishing Limited and Nanjing IWA Science & Technology Co. Ltd. Transactions and balances between the charity and its subsidiaries have been eliminated from the consolidated financial statements. Balances between the entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the Association itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

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

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Assessment of going concern

The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. In forming their assessment, the Trustees have also given consideration to financial forecasts and business plans, including group entities. They have also given due consideration to the impact of the COVID-19 pandemic on the group's operations, with a focus on its effect on the Association's membership, customers, suppliers, employees and investments. The Trustees acknowledge the disruption caused by the pandemic to the group's day-today operations and confirm that they do not consider this to be cause for material uncertainty in respect of the group's ability to continue as a going concern. The group has successfully employed contingency plans, and trustees have considered that the charity has sufficient cash resources to continue for the foreseeable future, despite the current crisis.

The Trustees have therefore concluded that the group has adequate resources to continue in operational existence for the foreseeable future and to meet liabilities as they fall due for a period of at least 12 months following the Trustees' approval of these financial statements. Further commentary on the Trustees' assessment of going concern may be found within the Trustees' report accompanying the financial statements.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

1 Accounting policies (continued)

e) Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the trustees and management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

The estimate of the group's liability in respect of a defined benefit pension scheme previously offered to IWA staff, the valuation of which has been estimated by an independent actuary taking account of various assumptions including the long term rates of return on scheme assets, the long-term anticipated rate of inflation, the life expectancy of scheme participants, and the discount rate applied;
The estimates of the useful economic lives of tangible and intangible fixed assets used to determine the annual depreciation charge;
The estimated future cost of reinstating short term leasehold property to its original condition in line with the terms of the lease agreement
The assumptions adopted by the trustees and management in determining the value of any designations required from the charity's general unrestricted funds;
The basis on which support costs have been allocated across expenditure headings; and
Judgements and assumptions made in forecasting future income and expenditure for the purposes of assessing whether the going concern basis of preparing the financial statements is appropriate.

f) Income

All income is recognised once the Association or group has entitlement to the income, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the Association or group has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the item is probable and the economic benefit can be measured reliably.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the gift to the Association or group which is the amount the Association or group would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Association and which have not been designated for other purposes.

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

The investments revaluation reserve is an unrestricted fund and reflects the balance included within fixed asset investments which has arisen as a consequence of the cumulative impact of market value changes to the Association's investment assets.

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

Investment income, gains and losses are allocated to the appropriate fund.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

The estimated costs of reinstating short term leasehold property is also capitalised at the point of the modification works being undertaken.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

1 Accounting policies (continued)

i) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

�	Engaged & collaborative membership	46%
�	Source of leading-edge water knowledge	10%
�	Platform for water knowledge exchange	19%
�	Bridging science to practice	25%
�	Support costs	0%
�	Governance costs	0%

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity.

�	Engaged & collaborative membership	25%
�	Source of leading-edge water knowledge	25%
�	Platform for water knowledge exchange	25%
�	Bridging science to practice	25%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

j) Tangible fixed assets

Assets are capitalised where the purchase price exceeds £500.

Tangible fixed assets are stated at cost less depreciation. The estimated cost of reinstating short term leasehold properties is also capitalised at the point of the modification works being undertaken.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value over their expected useful lives on the following basis:

�	Leasehold improvements	10 years straight line
�	Fixtures and fittings	5-6 years straight line
�	Office equipment	6 years straight line
�	Computer equipment	3 years straight line

k) Intangible fixed assets

Assets are capitalised where the purchase price exceeds £500.

Intangible fixed assets are stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer equipment

5 years straight line

l) Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

Investments in subsidiary companies which are unlisted are carried on the Association's balance sheet at cost less impairment.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

1 Accounting policies (continued)

m) Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation.

n) Taxation

The Association is an exempt charity within the meaning of schedule 3 of the Charities Act 2021 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. The group's liability for current tax in this regard is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period within the relevant jurisdiction. The group incurred tax charges in Nanjing, China.

o) Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due.

p) Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

q) Creditors and provisions

Creditors and provisions are recognised where the Association has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Long term liabilities are discounted where the effect of discounting would be material to the accounts.

r) Financial instruments

The Association 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

s) Foreign currencies

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

t) Pensions

Group employees are able to participate in defined contribution schemes administrated in the UK, Netherlands and China. The assets of the schemes are held separately from those of the group. In addition, IWA Publishing Ltd makes contributions into the personal pension plans for some of its employees. The costs of providing pensions are charged to the SOFA as incurred, i.e. in line with the contribution payable by the group in the period.

The Association also previously offered employees access to a defined benefit pension scheme administered in the UK. The defined benefit pension scheme is now closed to future new entrants and there are no remaining active members in the scheme. For the defined benefits scheme, the Statement of Financial Activities (SOFA) is charged with the cost of providing pension benefits earned by former employees in the period. The expected return on pension scheme assets less the interest on the pension scheme liabilities is included as part of this charge. Actuarial gains and losses arising in the period for the difference between actual and expected returns in the pension scheme assets, experience gains and losses on pension scheme liabilities and the effect of changes in demographics and financial assumptions, are included as after recognised gains and losses in the Statement of Financial Activities. The accumulated pension scheme deficit is recognised in full and included in the balance sheet. However, in the event that the scheme is in net surplus position, the asset is not recognised in the balance sheet as it is not expected that the surplus will be realisable by the Association until after buying out pension benefits to the pensioners.

u) Conferences

The World Water Congress is held bi-annually. Expenditure incurred in preparing for the Congress is also carried forward and recognised in the year of the Congress itself, except for the cost of staff time which is recognised in the financial year in which the services were rendered by the employees.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

1 Accounting policies (continued)

v) Specialist group funds

Specialist groups run independently from the Association and their income, expenditure, assets and liabilities are not included in the Association's financial statements.

Where specialist groups use the Association's services, these are charged to the group and shown as income for the Association. In many cases, this relates to a share of income from events organised by the specialist group in agreement with the Association. This income is accounted for once confirmation is received of the amount due and it is reasonably certain that it will be received.

The Association holds funds on behalf of the specialist groups. The balances due to the groups are included in creditors.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

2a Analysis of expenditure (current year)

	Raisingfunds			Charitable activities	Charitable activities		Governance costs £ 20,000 - - - - - - - - 22,900 219,463	Support costs £ 60,000 - - 35,347 201,929 34,888 43,312 39,084 70,087 - -	2023 Total £ 3,339,444 2,260,134 10,257 68,913 324,163 63,027 85,327 54,125 123,788 28,200 219,463	2022 Total £ 3,439,372 4,625,399 - 98,015 292,039 51,434 71,459 60,966 199,994 18,184 54,059
Investment Management £ - - 10,257 - - - - - - - -	Publications £ 829,587 939,416 - 33,566 122,234 28,139 42,015 15,041 53,701 5,300 -	Nanjing Operation - discontinued £ - - - - - - - - - - -	Engaged & collaborative membership £ 1,165,661 239,649 - - - - - - - - -	Source of leading-edge water knowledge £ 234,488 120,576 - - - - - - - - -	Platform for water knowledge exchange £ 450,375 582,696 - - - - - - - - -	Bridging science to practice £ 579,333 377,797 - - - - - - - - -
10,257 - -	2,068,999 - -	- - -	1,405,310 225,315 65,591	355,064 48,102 65,591	1,033,071 92,388 65,591	957,130 118,842 65,591	262,363 - (262,363)	484,647 (484,647) -	6,576,841 - -	8,910,921 -
10,257	2,068,999	-	1,696,216	468,757	1,191,050	1,141,563	-	-	6,576,841	8,910,921
10,889	2,004,202	497,762	1,894,036	458,392	3,189,754	855,881	-	-

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

2b Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Staff costs (Note 5) Other costs Investment management costs Support costs within subsidiaries Rents, rates and services Legal and professional fees IT costs Insurance Depreciation and impairment Audit AGM and Trustee meetings Support costs Governance costs Total expenditure 2022		Raising funds			Charitable activities			Governance costs £ 20,000 3,250 - - - - - - - 9,000 54,059	Support costs £ 60,000 - - 98,015 200,727 39,015 50,749 42,545 59,258 - -	2022 Total £ 3,439,370 4,625,399 - 98,015 292,039 51,434 71,459 60,966 199,994 18,184 54,059
	Investment Management £ - 10,889 - - - - - - - - -	Publications £ 874,043 903,394 - - 81,786 5,325 20,382 17,410 92,862 9,000 -	Nanjing Operation - discontinued £ 392,276 39,469 - - 9,526 7,094 328 1,011 47,874 184 -	Engaged & collaborative membership £ 1,120,386 419,956 - - - - - - - - -	Source of leading-edge water knowledge £ 233,189 155,747 - - - - - - - - -	Platform for water knowledge exchange £ 219,100 2,905,039 - - - - - - - - -	Bridging science to practice £ 520,376 187,655 - - - - - - - - -
	10,889 - -	2,004,202 - -	497,762 - -	1,540,342 312,113 21,577				86,309 - (86,309)	550,309 (550,309) -	8,910,919 -
	10,889	2,004,202	497,762	1,874,032	467,619	3,199,371	857,044	-	-	8,910,919

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

3 Other activities

During the year, the Association deregistered its wholly owned subsidiary, Nanjing IWA Science & Technology Co. Ltd, registered in Nanjing, China, following the decision to close its operations in Nanjing.

4 Net income / (expenditure) after taxation, before net gains on investments

This is stated after charging / (crediting):

This is stated after charging / (crediting):
	2023	2022
	£	£
Depreciation of tangible fixed assets	92,083	118,262
Amortisation of intangible fixed assets	30,735	69,646
Loss or profit on disposal of fixed assets
Auditor's remuneration:
Statutory audit	28,200	18,500
Other services	1,500	1,500
Foreign exchange gains or losses	(56,952)	144,747

5 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff and consultants costs were as follows:

Salaries and wages Pension costs Redundancy and termination costs Social security costs Consultants charges Other benefits costs	2023 £ 2,455,515 20,432 294,634 308,506 229,796 30,561	2022 £ 2,665,076 71,608 283,168 294,043 125,477 -
	3,339,444	3,439,372

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

£250,001 - £260,000 £140,001 - £150,000 £150,001 - £160,000 £130,001 - £140,000 £80,001 - £90,000 £90,001 - £100,000 £60,001 - £70,000 £70,001 - £80,000 £100,001 - £110,000 £260,001 - £270,000	2023 No. 1 2 3 3 1 - - 1 - 1	2022 No. 2 1 4 1 - 1 2 - 1 -

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £1,284,157 (2022: £987,912).

The total contributions to the defined contribution pension schemes during the year was £161,215 (2022: £145,712). At the year end £132 (2022: £nil) was outstanding.

No fees or remuneration are paid to any members or officers of the Association with the exception of the Executive Director who received £282,735 during the year (2022: £270,900). Clause 4 of the Memorandum of the Association provides specific power to make such payment to the Executive Director. The Association incurred a total of £208,626 (2022: £53,905) in respect of international travel, subsistence and venue costs for 13 (2022:6) Board members.

During the year the Association maintained an Indemnity Insurance cover for its officers for up to £10 million (2022: £10 million) at a cost of £7,000 per annum (2022 £6,750).

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

6 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 51 (2022: 51).

The average number of employees during the year was as follows (including casual and part-time staff):

Management and administration Charitable activities Publishing activities	2023 No. 34 13 4	2022 No. 33 14 4
	51	51

7 Related party transactions

During the year Trustees received reimbursement of expenses as set out in note 5.

Trustees are required to be members of the Association, for which they pay the Association a membership fee. Furthermore, they may from time to time purchase goods or services from the Association (e.g. books, journals, conference attendances). The payment of fees or purchase of good or services are on normal commericial terms with no preferential treatment by virtue of being a trustee.

Other than the above, there were no related party transactions to report in the period of report (2022: none).

8 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiary IWA Publishing Limited distributes under Gift Aid available profits to the parent charity. Its charge to corporation tax in the year was:

year was:
		2023	2022
		£	£
UK corporation tax at	19%	-	-

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

9 Intangible fixed assets

Intangible fixed assets
At the end of the year Amortisation At the start of the year Charge for the year Eliminated on disposal At the end of the year The group Cost At the start of the year Additions in year Disposals in year Net book value At the end of the year At the start of the year	Online platform £ 346,448 - -	Total £ 346,448 - -
	346,448	346,448
	302,258 30,735 -	302,258 30,735 -
	332,993	332,993
	13,455	13,455
	44,190	44,190

All of the above assets are used for charitable purposes.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

10 Tangible fixed assets

Leasehold improvement £ 120,000 - -	Fixtures and fittings £ 409,442 - -	Office equipment £ 13,674 - -	Computers £ 108,607 2,900 (64,151)	Total £ 651,723 2,900 (64,151)
120,000	409,442	13,674	47,356	590,472
36,000 12,000 -	196,717 70,371 -	6,226 2,279 -	100,185 7,433 (64,151)	339,128 92,083 (64,151)
48,000	267,088	8,505	43,467	367,060
72,000	142,354	5,169	3,889	223,412
84,000	212,725	7,448	8,422	312,595
Leasehold improvement £ 120,000 - -	Fixtures and fittings £ 409,442 - -	Office equipment £ 13,674 - -	Computers £ 94,070 - (64,151)	Total £ 637,186 - (64,151)
120,000	409,442	13,674	29,919	573,035
36,000 12,000 -	196,717 70,371 -	6,226 2,279 -	85,648 6,467 (64,151)	324,591 91,117 (64,151)
48,000	267,088	8,505	27,964	351,557
72,000	142,354	5,169	1,955	221,478
84,000	212,725	7,448	8,422	312,595

All of the above assets are used for charitable purposes.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

11 Investments

Investments
Investment in subsidiaries Fair value at the start of the year Investments comprise: Additions at cost Disposal proceeds Net gain / (loss) on change in fair value Fair value at the end of the year Cash held by investment broker pending reinvestment Shares listed on the London Stock Exchange Overseas listed investments Unlisted income bonds in the UK	2023 2022 £ £ 1,164,700 1,311,602 347,292 227,611 (316,293) (218,316) 36,363 (187,827) 1,232,062 1,133,070 19,016 31,630 1,251,078 1,164,700 2023 2022 £ £ 558,878 531,950 642,200 582,750 50,000 50,000 - - 1,251,078 1,164,700 The group The group		2023 2022 £ £ 1,314,703 1,461,605 347,292 227,611 (316,293) (218,316) 36,363 (187,827) 1,382,065 1,283,073 19,016 31,630 1,401,081 1,314,703 2023 2022 £ £ 558,878 531,950 642,200 582,750 50,000 50,000 150,003 150,003 1,401,081 1,314,703 The charity The charity
	1,251,078	1,164,700	1,401,081	1,314,703

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

12 Subsidiary undertakings

The Association holds a controlling interest in IWA Publishing Limited, IWA Conferences Limited, IWA Development Solutions Limited, IWA Global Enterprises Limited, Nanjing IWA Science & Technology Co. Ltd (China), IWAT Science and Technology Private Limited (India) and IWAI Water Foundation (India), whose details are given below.

IWA Publishing Limited

The charity owns the whole of the issued ordinary share capital of IWA Publishing Limited, a company registered in England. The company number is 03690822. The registered office address is Export Building, First Floor, 1 Clove Crescent, London, E14 2BA.

The subsidiary is used for non-primary purpose trading activities, these bing the publishing ofbooks, periodicals and video recordings. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distrbuted under Gift Aid to the parent charity.

The trustees Kalanithy Vairavamoorthy, Enrique Cabrera Rochera, Marie-Pierre Whaley and Peter Vanrolleghem are also directors of the subsidiary.

A summary of the results of the subsidiary is shown below:

Profit on ordinary activities before taxation Retained earnings Total retained earnings brought forward Profit for the financial year Distribution under Gift Aid to parent charity Taxation on profit on ordinary activities Profit for the financial year Interest receivable and similar income Gross profit Administrative expenses Total retained earnings carried forward The aggregate of the assets, liabilities and reserves was: Assets Liabilities Reserves Profit on ordinary activities before interest and taxation Turnover Cost of sales Cost of sales related to purchases from parent undertaking	2023 £ 3,860,459 (743,894) -	2022 £ 4,006,312 (780,542) -
	3,116,565 (1,326,073)	3,225,770 (1,223,660)
	1,790,492 9,198	2,002,110 358
	1,799,690 -	2,002,468 -
	1,799,690	2,002,468
	- 1,799,690 (1,799,690)	- 2,002,468 (2,002,468)
	-	-
	1,992,530 (1,842,530)	2,900,025 (2,750,025)
	150,000	150,000

Amounts owed to the parent undertaking were: £611,638 (2022: £1,166,273 ).

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

12 Subsidiary undertakings (continued)

IWA Conference Limited

The charity owns the whole of the issued ordinary share capital of IWA Conference Limited, a company registered in England. The company number is 05653997. The registered office address is Export Building, First Floor, 1 Clove Crescent, London, E14 2BA.

The subsidiary is used for non-primary purpose trading activities, these bing the Events and other Sponsorship . All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distrbuted under Gift Aid to the parent charity.

The trustees Kalanithy Vairavamoorthy is also directors of the subsidiary.

A summary of the results of the subsidiary is shown below:

Distribution under Gift Aid to parent charity Total retained earnings carried forward The aggregate of the assets, liabilities and reserves was: Assets Liabilities Reserves Turnover Cost of sales Cost of sales related to purchases from parent undertaking Gross profit Administrative expenses Profit for the financial year Retained earnings Total retained earnings brought forward Profit for the financial year Profit on ordinary activities before interest and taxation Interest receivable and similar income Profit on ordinary activities before taxation Taxation on profit on ordinary activities	2023 £ 159,038 - -	2022 £ - - -
	159,038 -	- -
	159,038 -	- -
	159,038 -	- -
	159,038	-
	- 159,038 (159,038)	- - -
	-	-
	477,038 (477,038)	- -
	-	-

Amounts owed to the parent undertaking were: £159,038 (2022: £0 ).

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

12 Subsidiary undertakings (continued)

Nanjing IWA Science & Technology Co. Ltd

The charity owns the whole of the issued ordinary share capital of Nanjing IWA Science & Technology Co. Ltd, a company registered in China. The company's activities in the year were that of promoting the art and science of water management globally, by the encouragement of training, study and research in water management and the publications of the useful results of such research; to share advances technologies and best practices with water professionals and organisations.

The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are held in the company for future operations.

A summary of the results of the subsidiary is shown below:

Turnover from sales to parent undertaking Management charge payable to parent undertaking Management charge due from parent undertaking Taxation on profit on ordinary activities Interest payable to parent undertaking Retained earnings Total retained earnings brought forward Profit for the financial year Total retained earnings carried forward Profit on ordinary activities before taxation Interest payable Other operating income Profit for the financial year Transfer from IWA The aggregate of the assets, liabilities and reserves was: Assets Liabilities Reserves Interest receivable and similar income Turnover Cost of sales Cost of sales related to purchases from parent undertaking Gross profit/(loss) Administrative expenses Profit/(loss) on ordinary activities before interest and taxation	2023 £ - - - -	2022 £ 41,539 - (39,469) -
	- - - - -	2,070 (458,293) - - -
	- - -	(456,223) 514 -
	- -	(455,709) -
	-	(455,709)
	(858) 858 -	454,850 (455,709)
	-	(858)
	- -	742 (1,600)
	-	(858)

Amounts owed to/from the parent undertaking were: £x (2022.: £nil)

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

12 Subsidiary undertakings (continued)

IWAT Science and Technology Private Limited

The charity owns the whole of the issued ordinary share capital of IWAT Science and Technology Private Limited, a company registered in India. The company's activities in the year were that of promoting the art and science of water management globally, by the encouragement of training, study and research in water management and the publications of the useful results of such research; to share advances technologies and best practices with water professionals and organisations.

A summary of the results of the subsidiary is shown below:

Turnover from sales to parent undertaking Management charge payable to parent undertaking Management charge due from parent undertaking The aggregate of the assets, liabilities and reserves was: Assets Liabilities Reserves Profit for the financial year Retained earnings Total retained earnings brought forward Profit for the financial year Total retained earnings carried forward Interest receivable and similar income Interest payable Interest payable to parent undertaking Profit on ordinary activities before taxation Taxation on profit on ordinary activities Gross profit/(loss) Administrative expenses Other operating income Profit/(loss) on ordinary activities before interest and taxation Turnover Cost of sales Cost of sales related to purchases from parent undertaking	2023 £ 1,094 134,872 - -	2022 £ - - - -
	135,966 (130,910) - 16,859 -	- - - - -
	21,915 - -	- - -
	21,915 (5,056)	- -
	16,859	-
	- 16,859	- -
	16,859	-
	16,859 -	- -
	16,859	-

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

13 Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

14 15 16 Specialist Group funds Creditors: amounts falling due within one year Trade creditors Other creditors Accruals and deferred income (note 16) Social security costs Gross income Result for the year Stock Debtors Trade debtors Other debtors Prepayments and accrued income Amounts due from subsidiary undertakings Goods held for resale	2023 2022 £ £ 2,216 52,953 2,216 52,953 2023 2022 £ £ 1,581,298 1,840,188 276,937 301,855 231,846 146,063 1,098 1,098 2,091,179 2,289,204 restated 2023 2022 £ £ 209,260 882,091 794,836 743,826 71,095 65,602 179,454 230,939 1,778,272 1,868,784 3,032,917 3,791,242 The group The group The group	2023 2022 £ £ 2,216 52,953 2,216 52,953 2023 2022 £ £ 1,581,298 1,840,188 276,937 301,855 231,846 146,063 1,098 1,098 2,091,179 2,289,204 restated 2023 2022 £ £ 209,260 882,091 794,836 743,826 71,095 65,602 179,454 230,939 1,778,272 1,868,784 3,032,917 3,791,242 The group The group The group	2023 £ 2,118,852 4,507,842	restated 2022 £ 1,071,339 (1,217,868)
	3,032,917	3,791,242	1,524,678	2,205,893

17 Deferred income

Deferred income comprises income collected in advance for future journal, membership subscriptions and events.

Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year	2023 2022 restated £ £ 1,868,784 2,281,021 (1,868,784) (2,212,651) 1,778,272 1,800,414 1,778,272 1,868,784 The group	2023 2022 restated £ £ 1,868,784 2,281,021 (1,868,784) (2,212,651) 1,778,272 1,800,414 1,778,272 1,868,784 The group	2023 2022 restated £ £ 603,778 1,964,377 (603,778) (1,896,007) 562,468 535,408 562,468 603,778 The charity	2023 2022 restated £ £ 603,778 1,964,377 (603,778) (1,896,007) 562,468 535,408 562,468 603,778 The charity
	1,778,272	1,868,784	562,468	603,778

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

18 Creditors: amounts falling due after one year

Creditors: amounts falling due after one year
Provision for dilapidation	2023 2022 £ £ 120,000 120,000 120,000 120,000 The group		2023 2022 £ £ 120,000 120,000 120,000 120,000 The charity
	120,000	120,000	120,000	120,000

Provision for dilapidations represents the estimated cost of reinstatement works, repairs and redecoration, as well as specific works that will need to be made in line with the office lease. (Export Building, First Floor, 1 Clove Cresent, London E14 2BA.

19 Pension scheme

Group and company

The group operates a Defined Benefit Pension Scheme.

The amounts recognised in the Balance Sheet are as follows:

Present value of funded obligations Surplus in scheme at end of the year and available to the Association Fair value of scheme assets Surplus not recognised	2023 £ (1,929,000) 2,523,000 (594,000)	2022 £ (1,933,000) 2,461,000 (528,000)
	-	-

The latest actuarial valuation at 31 December 2023 shows a pension surplus of £594,000 (2022:£528,000). The surplus valuation results in 2022 is not recognised on the balance sheet as an asset because it is not available to the Association by way of reduced future contributions. Actuarial gains and losses arising from new valuations and from updating valuations to the balance sheet date are recognised in the statement of financial activities as other recognised gains and losses.

The amounts recognised in the Statement of Financial Activities are as follows:

The amounts recognised in the Statement of Financial Activities are as follows:
	2023	2022
	£	£
Interest on obligation	(86,000)	(54,000)
Expected return on scheme assets	113,000	59,000
	27,000	5,000
Movements in the present value of the defined benefit obligation were as follows:
	2023	2022
	£	£
Opening defined benefit obligation	1,933,000	2,950,000
Interest cost	86,000	54,000
Actuarial losses	70,000	(893,000)
Benefits paid	(212,000)	(293,000)
Administration cost	52,000	115,000
Closing defined benefit obligation	1,929,000	1,933,000

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

19 Pension scheme (continued)

Group and company

Changes in the fair value of scheme assets were as follows:

Changes in the fair value of scheme assets were as follows:
Opening fair value of scheme assets Expected return on assets Actuarial gains Contribution by employer Benefits paid	2023 £ 2,461,000 113,000 14,000 147,000 (212,000)	2022 £ 3,190,000 59,000 (640,000) 145,000 (293,000)
	2,523,000	2,461,000

The group expects to contribute £36,822 to its Defined Benefit Pension Scheme in 2024 (2023: £147,000).

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

Future pension increases Retail price inflation Discount rate at 31 December	2023 £ 4.45% 3.40% 3.55%	2022 £ 4.75% 3.30% 3.40%
	11.40%	11.45%

Longevity assumptions as at 31 December 2023

Males (M) or Females (F)	2023	2022
Base table	S3PA tables with 92% Male and 102% Female scaling factor	S3PA tables with 92% Male and 102% Female scaling factor
Future improvements	CMI 2022 core model with a long term rate of improvement of 1.5% p.a. for males and 1.0% p.a. for females, with a smoothing parameter of Sk=7.0.	CMI 2021 model allowing for 25% of the data from 2020 and 2021 with a long term rate of improvement of 1.5% p.a. for males and 1.0% p.a. for females, with a smoothing parameter of Sk=7.0.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

20a Analysis of group net assets between funds (current year)

Intangible fixed assets Tangible fixed assets Investments Net current assets Long term liabilities Net assets at 31 December 2023	General unrestricted £ £ - 13,455 - 223,412 1,043,909 - 1,944,889 - (120,000) - 2,868,798 236,867 Designated funds	General unrestricted £ £ - 13,455 - 223,412 1,043,909 - 1,944,889 - (120,000) - 2,868,798 236,867 Designated funds	£ - - 207,169 - - Revaluation reserve	Restricted funds £ - - - 666,206 -	Total funds £ 13,455 223,412 1,251,078 2,611,095 (120,000)
	2,868,798	236,867	207,169	666,206	3,979,040

20b Analysis of group net assets between funds (prior year restated)

Intangible fixed assets Tangible fixed assets Investments Net current assets Long term liabilities Net assets at 31 December 2022	General unrestricted £ £ - 44,190 312,595 1,025,523 - 1,612,331 (858) (120,000) - 2,517,854 355,927 Designated funds	General unrestricted £ £ - 44,190 312,595 1,025,523 - 1,612,331 (858) (120,000) - 2,517,854 355,927 Designated funds	£ - - 139,177 - - Revaluation reserve	Restricted funds £ - - 1,293,823 -	Total funds £ 44,190 312,595 1,164,700 2,905,296 (120,000)
	2,517,854	355,927	139,177	1,293,823	4,306,781

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

21a Movements in funds (current year)

At 1 January 2023 £ 999,034 742 8,492 873 13,969 21,164 98,123 13,235 3,475 134,716 -	Income & gains £ - - - - 38,249 - 3,495 - - - 16,060	Expenditure & losses £ (377,945) - (8,640) (773) (47,002) - (101,618) - - (118,435) (17,821)	Transfers £ - 148 (100) - - (13,235) - -	At 31 December 2023 £ 621,089 742 - - 5,216 21,164 - - 3,475 16,281 (1,761)
1,293,823	57,804	(672,234)	(13,187)	666,206
-	746456 746,456	-	-	746,456 746,456
356,785 (858)	- -	(119,918) -	- 858	236,867 -
355,927	-	(119,918)	858	236,867
139,177 2,517,854	67,992 5,375,990	- (5,784,689)	- 13,187	207,169 2,122,342
3,012,958	6,190,438	(5,904,607)	14,045	3,312,834
-	-	-	-	-
4,306,781	6,248,242	(6,576,841)	858	3,979,040

The narrative to explain the purpose of each fund is given at the foot of the note below.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

21b Movements in funds (prior year restated)

Movements in funds (prior year restated)
Total restricted funds Total designated funds Revaluation reserve General funds Total unrestricted funds Pension reserve Total funds Citywide inclusive sanitation Climate Smart Utilities Initiative Aquarating - Sierra Leone Youth Action for SDG6 Fellowship fund Regulators NBS Unrestricted funds: Designated funds: Tangible and intangible assets Nanjing Fund LAC HRWS Restricted funds: Operation and Maintenance Network Diffuse Pollution SG Fund Prime Water Aquarating - Mongolia Climate Resilient WSPs GIZ Carbon Neutrality in Water Improving water security for the poor Reach Project Water-wise Cities Project	At 1 January 2022 £ - - (7,615) - - - - 11,133 21,164 - 14,775 - 5,506 - - 44,963	Income & gains £ - 1,165,189 28,490 36,684 43,495 - - 35,236 - 118,653 - - - 134,716 -	Expenditure & losses £ - (166,155) (525) (35,942) (3,566) (6,164) (202) (23,913) - (20,530) (1,540) - (2,031) - -	Transfers £ - - (20,350) - (31,437) 7,037 202 (8,487) - - - - - - -	At 31 December 2022 £ - 999,034 - 742 8,492 873 - 13,969 21,164 98,123 13,235 - 3,475 134,716 -
		1,562,463	(260,568)	(53,035)	1,293,823
	549,947 454,849	- 42,053	- (497,760)	(193,162) -	356,785 (858)
	1,004,796	42,053	(497,760)	(193,162)	355,927
	327,004	(187,827)	-	-	139,177
	1,514,396	8,909,852	(8,152,591)	246,197	2,517,854
	2,846,196	8,764,078	(8,650,351)	53,035	3,012,958
	-	-	-	-	-
	2,891,159	10,326,541	(8,910,919)	-	4,306,781

Purposes of restricted funds

Improving water security for the poor

The REACH programme is led by Oxford University and brings together a consortium of global leaders in water science, policy and practice. REACH is a new global research programme to improve water security for the poor by delivering world-class science that transforms policy and practice.

Citywide inclusive sanitation

The IWA is working with our partnrs, through this project IWA aims at identifying the needs, opportunities, and tools for action to support and inspire regulators in their contribution to achieving citywide inclusive sanitation in the context of the Sustainable Development Goals.

GIZ Carbon Neutrality in Water

The IWA is working on a project with GIZ, funded by the German Federal Ministry of Environment, Nature Conservation, to improve the carbon balance across utilities. The project focuses on parts of the nexus as addressing greenhouse gas reduction and energy efficiency produces benefits for water efficiency and recovers resources. The fund currently having a deficit balance, pending payment receivable from the donor.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

Movements in funds (continued)

Purposes of restricted funds

Aquarating

The funds received from Millennium Corporation, USA toward the execution of a technical cooperation programme for the implementation of a rating system Aqua Rating for the water and sanitation providers. The Aquarating Mongolia and Aquarating Sierra Leone fund currently having a deficit balance, pending payment receivable from the donor.

Water-Wise Cities Project

Funded by SIAAP towards help city leaders ensure that everyone in their cities has access to safe water and sanitation. One of the aims is to ensure that water is integrated in planning and design in cities to provide increased resilience to climate change, livability, efficiencies, and a sense of place for urban communities. The ultimate goal of these Principles is to encourage collaborative action,underpinned by a shared vision, so that local governments, urban professionals, and individuals actively engage in addressing and finding solutions for managing all waters of the city.

Operation and Maintenance Network

Funds received from Ministry of Health, Labour and Welfare ("MHLW") Japan to support, raise awareness and develop capacities to effectively address operations and maintenance of water supply and sanitation systems and protect public health.

GEF Floods & Droughts

Funds received from UN Enviro Programme to develop adaptive, sociotechnical risk management measures and strategies for coastal communities against extreme hydro-meteorological events minimising social, economic and environmental impacts and increasing the resilience of Coastal Regions in Europe.

Prime Water

Funded through EU Horizon 2020 – the Framework Programme for Research and Innovation for delivering advanced predictive tools from medium to seasonal range for water dependent industries and exploiting the cross-cutting potential of EO and hydroecological modelling (in short PrimeWater).

Diffuse Pollution Specialist Group

Conference surplus funds received from the Diffuse Pollution Specialist Group towards the cost of future activities.

WSP - Asia-Pacific Network

Funds received from UNOPS towards hosting the WSP Network Asia, the thematic network for capacity development for water safety plans and to strengthen the Asia Pacific WSP network to support the development of climate resilient, adaptable systems for water supply.

Climate Resilient WSP's

funding provided by OPEC Fund for International Development (OFID) for implementing climate resilient water safety planning to improve water supply and public health.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

Movements in funds (continued)

Purposes of restricted funds

Youth Action for SDG6 Fellowship fund

funding provided by Grundfos towards the participation of 14 bright and promising international young water professionals (YWPs) at the UN 2023 Water Conference, on 22-24 March 2023 in New York, USA.

Regulators - Nature Based Solutions (NBS)

Funds received from The Nature Conservancy (TNC) towards Supporting regulators and regulation to enable consideration and investment in nature based solution to improve water security and safety.

Purposes of designated funds

Tangible and Intangible asset fund

This fund balance represents the carrying value of the Association's tangible and intangible fixed assets net of any associated liabilities. This fund has been established in recognition of the fact that the assets are used in the day to day work of the charity and do not represent reserves available to finance its operations.

Investment revaluation reserve

This fund balance represents the balance included within fixed asset investments which has arisen as a consequence of the cumulative impact of market value changes to the Association's investment assets. It has been separated in order to provide an indication of the difference between the value of listed investments at the balance sheet date relative to its historic cost. A calculation is provided at note 19 to the financial statements.

Pension reserve

This fund represents the Association'slong-term liability in respect of its defined benefit pension scheme. It is separated in order acknowledgement that the liability is long-term and may be disregarded in considering the availability of free reserves in meeting the day-to-day obligations of the Association and the group.

Nanging Fund

This fund represents the net asset under the control of the Association's subsidiary, Nanjing IWA Science & TechnologyCo.Ltd inChina. Those net assets are essential to the operations in China and therefore separately ring-fenced in these accounts.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

22 Operating lease commitments payable as a lessee

The group's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

periods:
Less than one year One to five years Over five years	2023 2022 £ £ 75,495 75,495 1,132,425 1,132,425 452,970 528,465 1,660,890 1,736,385 Property		2023 2022 £ £ 2,900 2,900 7,250 10,150 - - 10,150 13,050 Equipment
	1,660,890	1,736,385	10,150	13,050

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

periods:
Less than one year One to five years Over five years	2023 2022 £ £ 226,485 226,485 1,132,425 1,132,425 75,495 301,980 1,434,405 1,660,890 Property		2023 2022 £ £ 2,900 2,900 7,250 10,150 - - 10,150 13,050 Equipment
	1,434,405	1,660,890	10,150	13,050

23 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

International Water Association

Notes to the financial statements

For the year ended 31 December 2023

24 Impact of change in accounting policy

As a result of the implementation of the new CRM system and the subsequent improvement in revenue recognition processes, the Association revised its accounting policy. The revised policy now stipulates the recognition of membership income based on the actual days of membership (instud of months), reflecting a more accurate reflection of the Association's financial performance.In accordance with the revised accounting policy, prior-year adjustment of £68,370 to the membership income have been incorporated into the financial statements.

Unrestricted £ 2,887,227 (41,031)	Restricted £ 44,963 -	Total £ 2,932,190 (41,031)
2,846,196	44,963	2,891,159
3,081,328 (68,370)	1,293,823 -	4,375,151 (68,370)
3,012,958	1,293,823	4,306,781
Unrestricted £ 194,101 (41,031) (27,339)	Restricted £ 1,248,860 - -	Total £ 1,442,961 - (41,031) (27,339)
125,731	1,248,860	1,374,591

International Water Association

Contents

For the year ended 31 December 2023

Trustees’ Report

For the year ended 31 December 2023

Trustees

Charity registered number

Registered Office

Company Secretary

Executive Director

Independent auditor

Principal Bankers

Trustees’ Report

For the year ended 31 December 2023

1. OBJECTIVES AND GENERAL ACTIVITIES

Objectives of the Association

Strategies for achieving objectives

Trustees’ Report

For the year ended 31 December 2023

Activities for achieving objectives

Main charitable activities for the public benefit

Open Access publishing and the public benefit

For the year ended 31 December 2023

2. GROUP STRATEGIC OVERVIEW

For the year ended 31 December 2023

Key financial performance indicators

3. ACHIEVEMENTS AND PERFORMANCE

Programmes

Trustees’ Report

For the year ended 31 December 2023

Events

Trustees’ Report

For the year ended 31 December 2023

The Source magazine

IWA Publishing

Young Water Professionals (YWP)

Trustees’ Report

For the year ended 31 December 2023

IWA Awards

4. FINANCIAL REVIEW

Investment policy and performance

Assessment of going concern

Trustees’ Report

For the year ended 31 December 2023

Reserves policy

Principal funding

5. RISK MANAGEMENT

Trustees’ Report

For the year ended 31 December 2023

Key internal risks for the Association include:

Key external risks to the Association include:

Financial risk management objectives and policies

6. STRUCTURE, GOVERNANCE, AND MANAGEMENT

7. Constitution

Method of appointment or election of Trustees

Policies adopted for the induction and training of Trustees

Organisational structure and decision-making

Trustees’ Report

For the year ended 31 December 2023

The Board of Directors

Trustees’ Report

For the year ended 31 December 2023

The Board of Directors (continued)

Governing Assembly

Key Committees and Strategic Council

Finance and Investment Committee

Trustees’ Report

For the year ended 31 December 2023

The Governance and Nomination Committee

The Membership and Engagement Committee

Strategic Council

Key management personnel

Trustees’ Report

For the year ended 31 December 2023

IWA Publishing Limited

Other related companies

In India:

8. FUTURE PLANNING

Trustees’ Report