2020-08-31-accounts - International Association Of Teachers Of English As A Foreign Language

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		Pages
Reference and administrative	information
Trustees' report		2-14
Independent Auditor's report		15—17
Group statement offinancial	activities	18
Balance sheet		19
Group cash flow statement		20
Notes on financial statements		21-39

TRUSTEES
H Kuchah	Kuchah	President
TWoodward		Vice President (Coopted)	(Appointed		asinterim 14Feb19,stood	down 2 Oct19)
G Diaz Maggioli		Vice President (Appointed	2 Oct2019)
RWright		Company Secretary
C Mackenzie		Treasurer (Stood down 17Apr 2020)
BCagnol		Treasurer (Acting Treasurer 19Apr 2020to21 Nov 2020, Appointed				21 Nov 2020)
L McLaughlin		Associate Representative	(Stood down		26Jun 2021)
JTheuma		Associate Representative	(Appointed	26/un 2021)
M Belak		Membership Committee	Chair
5Wilden		Digital Committee Chair
J Mader		SIG Representative

			Notes	Unrestricted	Restdcted	2020	2019
				Funds	Funds	Total	Total
					6
INCOME AND ENDOWMENTS		FROM:
Donations and legacies				4,204	9,565	13,769	1,574
Charitable activities				121,968	118,072	240,040	970,879
Other trading activities				15,682		15,682	94,2'I 6
Investments				7,548	3,901	11,449	14,257
Other				1,709	21	1,730	2,239
TOTAL INCOME				151,111	131,559	282,670	1,083,165
EXPENDITURE ON:
Other trading activities			8	2,751		2,751	7,892
Charitable activities			10	533,494	81,453	614,947	1,017,676
TOTAL EXPENDITURE				536,245	61,453	617,698	1,025,568
NET (EXPENDITURE)	/ INCOME
BEFORE INVESTMENT LOSSES			9	(385,134)	50,106	(335,028)	57,597
Net loss on investments			13d	(39,091)	-	(39,091)	(18,227/
NET (EXPENDITURE)	/ INCOME
BEFORETRANSFERS				(424,225)	50,106	(374,119)	39,370
Transfers between funds				21,796	(21,796)
NET MOVEMENT IN FUNDS				(402,429)	28,310	(374,119)	39,370
Reconciliation offunds
Total funds brought forward				686,957	569,231	1,256,188	1,216,818
TOTAL FUNDS CARRIED FORWARD			19	284,528	597,541	882,069	1,256,188

	Notes	Notes	Group		Charity
			31August	31August	31August	31August
			2020	2019	2020	2019
			8		8
FIXEDASSETS
Intangible assets		13	36,312	13,845	36,312	13,845
Tangible assets		13	283,719	303,427	283,719	303,427
Investments		13	258,656	297,747	258,657	297,748
			578,687	615,019	578,688	615,020
CURRENT ASSETS
Debtors		14	108,540	97,247	133,406	'l35,622
Cash at bank and in hand		23	730,849	670,126	663,415	595,954
			839,389	767,373	796,821	731,576
CREDITORS: amounts	falling due within
	one year	15	536,007	109,797	480,300	91,913
NET CURRENT ASSETS			303,382	657,576	316,521	639,663
TOTAL ASSETS LESSCURRENT LIABILITIE:			882,069	1,272595	895,209	1,254,683
CREDITORS: amounts	falkng due after	16		16,407		16,407
	one year
NET ASSETS			882,069	1,256,188	895,209	1,238,276
THE FUNDS OF THE CHARITY:
UNRESTRICTED FUNDS (incl. revaluation		17	284,528	686,957	297,668	669,&f5
reserve 261,553[2019	- f100,644])
RESTRICTED FUNDS		18	597,541	569,231	597,541	569,231
TOTAL FUNDS		19	882,069	1,256,188	895,209	1,238,276

				Notes	2020	2019
					Total	Total
					6
Cash flows from operating	activities:
Net cash provided by operating activities				22	118,841	99,718
Cash flows from investing	activities:
Dividends and interest from	investments				11,449	14,257
Purchase of property, plant	and equipment				(7,221)	(1,753)
Purchase of intangible assets					(28,938)	(14,200)
Net cash used in investing	activities				(24,710)	(1,696)
Cash flows from financing	activities:
Repayments of borrowing					(33,408)	(16,972)
Cash inflowe from new borrowing
Net cash used in financing	activities				(33,408)	(16,972)
Change in cash and cash	equivalents	in	the year		60,723	81,050
Cash and cash equivalents	at the beginning		ofthe year	23	670,126	589,076
Cash and cash equivalents	at the end	of	the year	23	730,849	670,126
Analysis ofchanges in net debt					As at		As at
					01 092019	Gashflows	31082020
Cash equivalents					670,126	60,723	730,849
Debt:
Loans falling due within one	year				17,001	(17,001)
Loans falling due after more	than one year				16,407	(16,407)
Finance lease obligations
Total					703,534	27,315	730,849

0) Intangible fixed assets
Intangible fixed assets compnse software and website development costs and are measured at cost, less any
accumulated amortisation and any accumulated impairment losses.
This asset is amortised on a straight line basis, over its useful economic life which is considered by the charity	to be
5 years. Amortisation is not charged on assets capitalised until the asset is brought into use.
h) Impairments
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance
sheet date. Ifsuch indication exists, the recoverable amount ofthe asset, or the asset's cash generating unit,	is
estimated and compared to the carrying amount. When the carrying amount exceeds its recoverable amount,	an
impairment loss is recognised in the Statement of Financial Activities unless the asset is carried at a revalued
amount where the impairment loss is a revaluation decrease.
i) Investments
Unlisted investments comprise investments in subsidiaries which are measured at cost less impairment.
Listed investments are a form ofbasic financial instrument and are initially recognised at their transaction value and
subsequently re-measured at their fair value as at the balance sheet date using the closing quoted market price.
The Statement of Financial Activities indudes the net gains and losses arising on revaluation and disposals
throughout the year.
A source offinancial risk faced by the charity isthat ofvolatility in equity markets and investment markets due	to
wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning
equities, particularly currency risk, and within particular sectors orsub sectors.
j) Fund accounting
Funds held by the Charity are either:-
Unrestricted general funds These are funds which can be used in accordance with the charitable objects at the
discretion ofthe trustees.
Designated funds: These are funds set aside by the trustees out of unrestricted general funds for specific future
purposes or projects. Investment income is allocated to designated funds in proportion to the fund value. A
proportion of membership fees is allocated to Special Interest Groups (SIGs)when a SIG subscdiption is included		in
the membership price. Members can also purchase additional subscriptions to other SIGs and the full amount	of
these subscriptions are allocated to the relevant SIG.Atransfer between the SIG designated fund and the general
fund is made to cover overhead costs.
Restricted funds: These are funds that can only be used for particular restncted purposes within the objects	ofthe
charity Restrictions arise when specified by the donor orwhen funds are used for particular restricted purposes
Investment income is allocated to restricted funds in proportion to the fund value.
k) Financial instruments
The company only has financial assets and financial liabilities ofa kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised attransaction 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.
Debtors
Trade and other debtors which are receivable within one year and which do not constitute a financing transaction
are initially measured at the transaction pdice. Trade debtors are subsequently measured at amortised cost, being
the transaction price less any amounts settled and any impairment losses.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity ofthree
months or less from the date of acquisition or opening ofthe deposit or similar account.

INCOME FROM CHARITAB	LE ACTIVITIES
	Unrestricted	Restricted	2020	2019
	Funds	Funds	Total	Total
	6	6	6
Subscriptions Conference	121,692	58,628	180,320	239,240 658,'753
Events Income	160	59,168	59,328	71,502
Fundraising				1,177
Publications	116	276	392	207
	121,968	118,072	240,040	970,879

INVESTMENT INCOME
	Unrestricted 6	Restrictedf	2020	2019 6
Dividends - fixed interest	1,556	803	2,359	3,623
-equity funds	5,080	2,626	7,706	8,906
Interest on short term deposits	912	472	1,384	1,728
	7,548	3,901	11,449	14,257

INCOME AND EXPENDITURE	OF	TRADIN	TRADIN	TRADIN	G SUBSIDIARY	G SUBSIDIARY
The Charity, which is registered	in	England,			owns the whole ofthe issued share capital of IATEFL		Trading
Limited, Company number 07085385				The results ofthis company are summarised		below:
						Year ended	Yearended
						31August	31August
						2020	2019
						6
Turnover						15,682	94,216
Direct costs							(4,472)
						15,682	89,744
Management charge from parent		company				(26,070)	(38,412)
Administrative expenses						(2,751)	(3,420)
(LOSS) / PROFIT BEFORE	TAX					(13,139)	47,912
Corporation tax on profit on ordinary				activities
(LOSS) / PROFIT AFTER TAX						(13,139)	47,912
Gift aided to the charity							(30,000)
RETAINED IN SUBSIDIARY						(13,139)	17,912
The aggregate ofassets, liabilities			and funds was:			2020 6	2019 f
Assets						69,952	78,681
Liabilities						(83,090)	(78,680)
Net liabilities / assets						(13,138)	1
Represented by:
Ordinary shares of61 each						1	1
Profit and loss account						(13,139)	17,912
TOTAL FUNDS						(13,138)	17,913
NET EXPENDITURE
Group net expenditure is stated	aRer			charging:		2020	2019
Depreciation and amortisation						33,400	25,089
Auditor's remuneration. audit						7,050	7,300
non-audit						250	275
Interest on bank loans						851	1,427
Amounts payable under operating		leases - equipment				919	919

EXPENDITURE ON CHARITABLE	EXPENDITURE ON CHARITABLE	EXPENDITURE ON CHARITABLE	ACTIVITIES	ACTIVITIES
					Services to	Annual		2020	2019
					Members	Conference		Total	Total
					9			9
Costs directly allocated	to activities
Wages and salaries					40,232	108,241		148,473	151,884
Staff training					251			251	273
Cost of publishing &publications					52,875			52,875	95,202
Cost ofevents					54,446			54,446	50,143
Scholarships							389	389	28,618
Grants					3,500			3,500	5,649
IATEFL Projects					300			300	4,891
Plenary speaker costs									4,909
Conference travel and accommodation					127	6,511		6,638	32,502
Conference venue and equipment			hire			1,305		1,305	246,899
Conference Programmer	fee					2,217		2,217	2,318
Conference app Publicity &marketing					1,572	1,957		3,529	3,518 6,894
Committee meeting expenses					10,536		651	11,187	37,800
Website, database &online solutions costs					29,108			29,108	23,837
Printing, post &stationery					2,874		762	3,636	9,367
Telephone Equipment leasing					940 919			940 919	'l,538 1,313
Sundry					940			940	885
Auditor's remuneration					4,800			4,800	4,900
Mortgage mterest					852			852	1,427
Irrecoverable VAT					23,682			23,682	46',786
Support costs allocated	to activities
Wages and salaries					121,248	26,801		148,049	143,407
Rent, rates and water					5,904			5,904	4,384
Light and heat					2,688			2,688	2259
Insurance					4,532			4,532	8,196
Cleaning & secudity disposal					2,409			2,409	2811
Repairs &maintenance					4,424			4,424	1,351
Legal and professional					14,195			14,195	6,672
Bank &credit card charges					12,489			12,489	20,862
Exchange rate vadiance					2,556			2,556	2015
Depreciation and amortisation					33,400			33,400	25,089
Governance					34,098		216	34,314	39,077
Total expenditure					465,897	149,050		614,947	1,017,676
In 2019,5881,580 represented		unrestricted		funds	expenditure and	F136,096 represented		restricted	funds
expenditure.
STAFF COSTS AND TRUSTEES'			REMUNERATION					2020	2019
								6
Staff costs ofthe Group	were:-
Wages and salaries								284,029	279,976
Pension costs								16,647	22660
Social security costs								22,428	18,612
								323,104	321,248

Services to members
Annual Conference
Administration and support

calculated on the basis of full time equivalent was as follo	ws:
	2020	2019
	Number	Number
Services to members	2	2
Annual Conference	3	4
Administration and support	3	4

INTANGIBLE FIXEDASSE	TS -GROUP AND CH
	Website and
	database
	6
Cost
At 31August 2019	14,200
Additions	28,938
Disposals
	43,138
Amortisation
At 31August 2019	355
Charge in year	6,471
Disposals
	6,826
Net BookValue
At 31August 2020	36,312
At31Augusl 2019	13,845

TANGIBLE FIXEDASSETS	-GROUP
	Freehold	Fixtures,
	land and	Fittings and	Computer
	buildings 6	Equipment 6	Equipment 6	Totalf
Cost
At 31August 2019	427,427	29,553	38,400	495,380
Additions			7,221	7,221
Disposals		(899)	(18,089)	(18,988)
At 31August 2020	427,427	28,654	27,532	483,613
Depreciation
At 31August 2019	130,669	26,696	34,588	191,953
Charge in year	21,778	1,020	4,131	26,929
Disposals		(899)	(18,089)	(18,988)
At 31August 2020	152,447	26,817	20,630	199,894
Net BookValue
At 31August 2020	274,980	1,837	6,902	283,719
At 31August 2019	296,758	2,857	3,812	303,427

TANGIBLE FIXEDASSETS	-CHARITY
	Freehold	Fixtures,
	land and	Fittings and	Computer
	buildings f	Equipment f	Equipmentf	Totalf
Cost
At 31 August 2019	427,427	29,553	37,725	494,705
Additions			7,221	7,221
Disposals		(899)	(18,089)	(18,988)
At 31 August 2020	427,427	28,654	26,857	482,938
Depreciation
At 31 August 2019	130,669	26,696	33,913	191,278
Charge in year	21,778	1,020	4,131	26,929
Disposals		(899)	(18,089)	(18,988)
At 31 August 2020	152,447	26,817	19,955	199,219
Net BookValue
At 31 August 2020	274,980	1,837	6,902	283,719
Ai 31August 2019	296,758	2,857	3,812	303,427

FIXEDASSET INVESTM	FIXEDASSET INVESTM	ENTS - GROUP
Listed investments:			2020	2019f
Market value at	1 September 2019		297,747	315,974
Additions
Disposal proceeds
Net loss in year			(39,091)	(18,227)
Market value at	31 August 2020		258,656	297,747
			Market	Market
			valuef	valuef
The above is made up of		the following:
SUTL Cazenove	Charity	Equity Value Fund A Income	140,060	178,965
SUTL Cazenove	Charity	Bond Fund A Income	118,596	118,782
			258,656	297,747

FIXEDASSET INVESTMENTS -CHARITY
Listed investments:			2020f	2019f
Market value at 1 September 2019			297,747	315,974
Additions
Disposal proceeds
Net loss in year			(39,091)	(18,227)
Market value at 31 August 2020			258,656	297,747
Unlisted investments:
Equity investment in IATEFL Trading Limited
			258,657	297,748
Listed investments include the following	material	amounts:
SUTL Cazenove Charity Equity Value Fund A income SUTL Cazenove Charity Bond Fund A Income			140,060 118,596	178,965 118,782
			258,656	297,747

	The investment	in IATEFL Trading	in IATEFL Trading	Limited, a company	incorporated	in England and	Wales, represents	a 100%
	shareholding.
14	DEBTORS				Group	Group	Charity	Charity
					31 August	31August	31 August	31Augusf
					2020f	2019	2020f	2019
	Trade debtors				7,338	11,924	4,819	7,415
	Amount owed by group company						27,384	42,884
	Other debtors				1,003	592	1,003	592
	Prepayments and accrued income				100,199	84,731	100,200	84,731
					108,540	97,247	133,406	135,622
15	CREDITORS: AMOUNTS DUE WITHIN				Group	Group	Charity	Charity
	ONE YEAR				31August	31August	31August	31August
					2020f	201I9	2020f	2019f
	Bank loans					17,001		17,001
	Trade creditors				6,355	4,714	5,437	4,105
	Defined contribution		pension scheme		2,058	1,748	2,058	1,748
	Other creditors				3,809	5,222	3,809	6,222
	Taxation and social		security		12,775	7,909	12,211	5,692
	Accruals				11,218	8,494	8,718	5,959
	Deferred income				499,792	63,709	448,067	51,176
					536,007	109,79T	480,300	91,913
	Deferred Income
	Deferred income	as at I September 2019			63,709	39,230	51,176	25,605
	Resources deferred		in the period		492,281	63,709	444,056	51,176
	Amounts released		from previous	period	(56,198)	(39,230)	(47,165)	(25,605)
	Deferred income	as at 31 August		2020	499,792	53,709	448,067	51,176

16	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	DUE AFTER	DUE AFTER	DUE AFTER		Group	Gmup		Charity				Charity
	ONE YEAR							31 August	31August		31August		31August
								2020	2019		2020				2019
								6			8
	Bank Loans								16,407						16,407
	In 2013,the charity took out a 10year mortgage with Bardays bank, secured against										the freehold	property
	purchased in the	year, being			No 2	83The Foundry,		Seager Road, Faversham,		Kent.	The mortgage		was	on a
	variable interest rate being			2.49%		above	base rate.	The decision was made to pay offthe total outstanding							debt
	during the year to	31stAugust			2020 and		therefore,	the total balance ofsecured		creditors outstanding			as at 31
	August 2020 amounted		to	anil (2019:F33,408)
17	UNRESTRICTED	FUNDS					As at	Income	ExPenditure	*	Transfers				As at
							01 0919							310820
	GROUP:						6	6		6					6
	Designated Funds:
	Capital Reserve						60,000				(60,000)
	Wider Membership	Scheme					195,432	6,999							202,431
	Gillian Porter Ladousse		Travel
	Scholarship Fund						4,270	153							4,423
	Gillian Sturtridge	First Time
	Speakers Scholarship		Fund				11,052	396							11,448
	Property Fund						280,350				(5,370)				274,980
	General Fund						135,853	143,563	(575,336)		87,166		(208,754)
							686,957	151,111	(575,336)		21,796			284,528
							As at	Income	Expenditure	*	Transfers				As at
							0109 18						310819
	GROVPr					Restatedf
	Designated Funds:
	Capital Reserve						60,000								60,000
	Wider Membership	Scheme					187,152	3,280			5,000				195,432
	Gillian Porter Ledousse		Travel
	Scholarship Fund						4,197	73							4,270
	Gillian Sturtr(dge	First Time
	Speakers Scholarship		Fund				11,770	196			(914)				11,052
	Property Fund						285,157				(4,807)			280,350
	Genemlpund						86,015	916,399	(907,699)		41,138				135,853
							634,291	919,948	(907,699)		40,417			686,957

RESTRICTED FUNDS	As at	Income	Expenditure	Transfers	As at
	010919				31 08 20
GROUP AND CHARITY:					8
Special Interest Group Funds:
Business Enghsh	42,927	59,388	(53,702)	6,174	54,787
Learning Technologies	40,809	5,287	(1,150)	(2,510)	42,436
Leadership & Management ES(0)L ESP	28,920 18,119 46,568	2,851 1,688 3,563	(1,530) (172) (1,516)	(1,283) (760) (1,842)	28,958 18,875 46,773
Global Issues	9,007	2,221	(1,410)	(969)	8,849
Learner Autonomy	7,850	5,429	(3,134)	(1,457)	S,BSB
Literature	7,324	1,552	(175)	(763)	7,938
Pronunciation	15,401	5,377	(2,049)	(1,291)	17,438
Research	23,298	3,157	(2,74D)	(1,500)	22,215
Teacher Development	46,046	4,518	(571)	(2,398)	47,595
Teacher Trainers &Educators	77,459	6,166	(1,419)	(2,874)	79,332
Testing, Eval'n 8 Assesm't	69,107	3,596	(2,059)	(1,734)	68,910
Young Learners &Teenagers	10,255	4,513	(5,081)	(501)	9,186
Materials Writing	16,059	5,248	(1,411)	(2,367)	17,529
Inclusive Practices and SEN	(1,131)	1,344	(52)	(623)	(462)
Wider Membership Scheme	41,253	3,999		(8,052)	37,200
W R Lee Scholarship Fund	42,903	1,577			44,48D
Ray Tongue Scholarship Fund	10,623	380			11,003
Gillian Porter Ladousse Travel
Scholarship Fund	4,934	228			5,162
Gillian Sturtridge First Time		25			25
Speakem Scholarship Fund
Creativity Group Scholarship	227	44			271
Wider Membership Individual
- Founding	5,857	305		(65)	6,097
- Matching	5,606	296		(65)	5,837
African Scholarship		8,435	(282)		8,153
Latin America		266			266
IATEFL Projects	(190)	106	(3,000)	3,084
	569,231	131,559	(81,453)	(21,796)	597,541

RESTRICTED FUNDS (cont'd)	RESTRICTED FUNDS (cont'd)	RESTRICTED FUNDS (cont'd)
Global Issues			GISIG is for those who not only see themselves as language teachers but	also
			as educators on real world issues and are keen to instil a sense ofsocial
			responsibility and develop critical thinking skills into their students.
Learner Autonomy			LASIG aims to raise awareness amongst language teachers, advisors and
			researchers about the issues related to developing and implementing
			independent or autonomous learning.
Literature	SIG		The objective of LitSIG is to promote teaching and research in the area of
			English language, literature, extensive reading, the creative arts and various
			related cultural manifestations in English language education.
Pronunciation			PronSIG is for teachers interested in integrating pronunciation skills in language
			teaching
Research			The ReSIG is for anyone interested in the research ofteaching and learning
			processes within ELT.
Teacher	Development		TDSIG is for teachers interested in the interplay between personal and
			professional development as a teacher.
Teacher	Trainers K		TTEdSIG aims to support ELTteachers, teacher educators and teacher trainers
Educators			on the aspects ofpre and in service teacher education.
Testing,	Evaluation	and	TEASIG is for anyone interested or involved in testing, evaluation and
Assessment			assessment in ELT.
Young Learners and			YLTSIG leads, drives change and sets standards in teaching English to young
Teenagem			learners and teenagers (ages 3to 17)for training and development, classroom
			practice and assessment.
Materials	Writing		MaWSIG aims to share and develop best practice in ELT material wrtiting	and
			offers professional development for writers and editors.
Inclusive	Practices and SEN		IPSENSIG shares best practices and experiences in accurately identifying
			language learners' additional needs and disseminates information about inclusive
			teaching methods, matertials and resources for working with learners who
			experience barriers in accessing education.
Wider Membership		Scheme	This scheme encourages reduced rate membership in IATEFL forteachers who
			could not otherwise afford it. Assomate members are able to submit a bid	for
			WMS funding with which they can offer a number ofsubsidised IATEFL
			associate memberships to their members.
WR Lee	Scholarship	Fund	The WR Lee Scholarship Fund was set up in memory ofour late Founder	and
			Chair with the purpose ofhelping IATEFL members in the countries concerned to
			attend the IATEFL Annual Conference.
Ray Tongue Scholarship			The Ray Tongue Scholarship Fund was set up in memory ofour late Treasurer,
			with the purpose of helping IATEFL members in the countries concerned to
			attend the IATEFL Annual Conference.
Gillian Porter Ladousse			The Gillian Porter Ladousse Travel Scholarship Fund has been set up to enable
Travel Scholarship		Fund	a teacher trainer and/or a trainee, who would not normally be able to do so, to
			attend the annual IATEFL conference. Itwas renamed the Gillian Porter
			Ladousse Fund in 2002 in memory of Gilhan Porter Ladousse.

18	RESTRICTED FUNDS	RESTRICTED FUNDS	RESTRICTED FUNDS	RESTRICTED FUNDS	RESTRICTED FUNDS	(cont'd)
	Gilhan Sturtridge			First Time			This fund was started from the transfer ofthe Gillian Sturtridge Memorial Fund
	Speaker		Scholarship			Fund	held by the University of Reading and the balance		ofthe 1stTime Speakers
							Fund was added to this as the two funds were set up with the same purpose.
							The funds were fully spent in 2017 but donations		can still be received into the
							fund.
	Creativity	Group					This scholarship was set up in 2016to celebrate		the 50th IATEFL conference
							and is aimed at funding a practising teacher to attend and present at
							conference.
	Wider Membership						The Wider Membership Individual Scheme aims		to help teachers living in
	Individual		Scheme				countries where there are no Associates of IATEFL, initially in Afnca, and where
							theiefore, they cannot take part in the original Wider Membership Scheme, to
							loin IATEFL. The WMIS fund consists oftwo parts. One part was raised via
							donations from the IATEFL membership: the other is the matching fund set up
							when the scheme was introduced. Memberships		provided under the scheme	are
							paid by these two in equal parts.
	Africa Scholarship						The IATEFL Afdica scholarship has been funded		for many years by a private
							Trust called the Murphy Scholarship Trust. In June 2020 the trust was closed and
							the balance offunds was transferred to IATEFL.		The terms ofthis transfer were
							that IATEFL would use the funds to cover scholarships awarded in 2020 and			any
							surplus funds could be used for additional Africa		scholarships in later years.	If
							this was not practical, the Scholarship Committee		were given permission to
							allocate the balance, at their discretion, in an appropriate manner.
	Latin America Scholarship						The Latin America Scholarship is part funded by		donations and part funded by
							the IATEFL General Fund. As the scholarship awarded for 2020 has not yet			been
							paid out because ofthe deferred conference, the		donations received have been
							transferred toa restricted fund and held until payout is made.
	IATEFL Projects						IATEFL Projects aims to provide a grant of up to		63,000 on an annual basis	to a
							Teaching Association in order for them to fund a		project to make an
							improvement to language teaching and learning	in their local community.
	Transfers	between			funds		The transfers between funds relate to an amalgamation ofadministration costs,
							internal cost transfers and income generated by	individual SIG's which is
							included in the charity's trading income.
19	ANALYSIS		OF GROUP NET ASSETS 6ETWEEN FUNDS
	As at 31	August		2020			General Designated		Restricted	Total
							Funds Funds		Funds
							6 6		6
	Tangible	fixed assets					8,739 274,980		283,719
	Intangible	assets					36,312		36,312
	Investments						258,656		258,656
	Net current		assets				(512,461) 218,302		597,541 303,382
	Long term		liabilities
							(208,754) 493,282		597,541 882,069

ERATING LEASE COMMITMENTS	ERATING LEASE COMMITMENTS	ERATING LEASE COMMITMENTS
At 31August 2020, the group had total future			minimum		commitments	under non-cancellable operating			leases
as follows:
					Group		Charity
Amounts due:					2020 2	2019	2020 f		2019 f
Within one year Within one to five years					919 1,072	919 1,991	919 1,072		919 1,991
					1,991	2,910	1,991		2910
ESULTS OF CHARITY
							2020 f		2019
Total income							266,988		988,949
Total expenditure							(614,947)	(1,017,676)
Net expenditure	before loss	on investments					(347,959)		(28,727)
Net loss on investments							(39,091)		(18,227)
Net expenditure	for the year						(387,050)		(46,954)
FINANCIAL ASSETS AND		LIABILITIES					2020f		2019
CHARITY:
Financial assets	measured	at fair value through		income	and expenditure		922,071		893,701
GROUP:
Financial assets	measured	at fair value through		income	and expenditure		989,505		967,873