2022-08-31-accounts - International Association Of Teachers Of English As A Foreign Language

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Company Registration No: 02531041

(England and Wales)

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT AND GROUP FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE CONTENTS

YEAR ENDED 31 AUGUST 2022

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	Pages
Reference and administrative information	1
Trustees’ report	2 - 14
Independent Auditor’s report	15 – 18
Group statement of financial activities	19
Balance sheet	20
Group cash flow statement	21
Notes on financial statements	22 – 41

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

TRUSTEES’ REPORT

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TRUSTEES
H Kuchah Kuchah	Vice President_(until 18 May 2022)_
G D Maggioli	President
A Popovski-Golubovikj	Vice President_(from 18 May 2022)_
R Wright	Company Secretary_(until 19 April 2023)_
M Sachpazian	Company Secretary_(from 19 April 2023)_
B Cagnol	Treasurer
J Theuma	Associate Representative
M Belak	Membership Committee Chair_(until 19 April 2023)_
G Erasmus	Membership Committee Chair_(from 19 April 2023)_
S Wilden	Digital Committee Chair
J Mader	Special Interest Group Representative

COMPANY SECRETARY

M Sachpazian

CHIEF EXECUTIVE

J Burton

REGISTERED OFFICE

No 2 & 3 The Foundry, Seager Road, Faversham Kent ME13 7FD

COMPANY NUMBER

02531041

CHARITY REGISTRATION NUMBER

1090853

BANKERS

Barclays Bank Plc Leicester LE87 2BB

AUDITOR

UHY Kent LLP t/a UHY Hacker Young Thames House, Roman Square, Sittingbourne ME10 4BJ

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2022

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The Trustees (who are also the Directors for the purposes of Company law) present their annual report together with the audited financial statements of The International Association of Teachers of English as a Foreign Language Limited (the charity) for the year ended 31 August 2022. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the company's Memorandum and Articles of Association and the provisions of 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)).

OBJECTIVES AND ACTIVITIES

The Charity’s principal activity is that of a professional membership association for teachers of English as a foreign or second language, and the advancement of education for the benefit of the public in the English language as a foreign or second language sector.

The Charity’s mission is to ‘link, develop and support English Language Teaching professionals worldwide.’ When considering the Charity’s aims and objectives, and development of future plans for the Charity, the trustees refer to the Charity Commission’s general guidance on public benefit.

The activities undertaken during the year to further our charitable purposes for the public benefit can be defined within the three areas of our mission:

Linking

Regional and national teaching associations around the world are able to become IATEFL Associates free of charge. This enables them to link with one another and promote their events to the wider community on the IATEFL website as well as an Associate eBulletin and in our bi-monthly member magazine Voices . This creates a wider community of over 100,000 English language teaching professionals globally.
We invite a member from each of our ‘IATEFL Associates’ to attend and represent their Teaching Association at our Associates Day, free of charge. Associates Day is usually held the day before our annual conference and is a day of networking, peer learning in areas of mutual interest and best practice, and targeted training sessions. The representatives also receive free registration for the annual conference.
IATEFL events, including the annual conference and most online events, are open to members and non-members alike. These provide an opportunity for joining with other English language teaching professionals with similar interests.
Our Social Media platforms such as LinkedIn, Twitter and Facebook are open to anyone working in English Language Teaching (ELT). They are a key space for the ELT community to share their ideas and challenges, to advertise local events and to network with other like-minded individuals.

Developing

IATEFL and its 16 Special Interest Groups run a very regular programme of online events (webinars, web conferences, mini courses etc.), as well as face to face events, throughout the year. The majority of these are free, and many open to members and non-members alike. These all provide opportunities for teachers around the world with internet access to participate in professional development opportunities, and freely disseminate the professional expertise of world class speakers.

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Our annual conference is open for anyone to attend and regularly attracts over 2,800 attendees from around the world. Approximately a third of those attending are not IATEFL members. The trustees make a conscious decision when setting the delegate rate, to make it as affordable as possible to ensure that attending the conference is achievable for as many people as possible. With an extensive academic programme, this event is one of the most important professional development opportunities in the ELT calendar.
Social Media platforms, and the use of tools such as Facebook live and moderated discussion, can enable relevant topics to be discussed immediately. They break down geographical boundaries and can provide support, information sharing and forums for discussion.
Our website, as well as the IATEFL YouTube channel, hosts a selection of our webinars which have been made available to the general public as well as interviews with presenters and attendees from our annual conference.
Our current Development Plan has, as one focus, the development of further continuous professional development opportunities such as online courses. It is anticipated this will also be available for non-members to benefit from for a reasonable charge.

Supporting

IATEFL Projects offers a grant each year for a Teaching Associations to use to undertake projects that will make an improvement to language teaching and learning in their local community. The project should be able to demonstrate a sustainable outcome and therefore benefit the broader ELT community.
Our ELT exhibition, held at the annual conference, is open to non-paying members of the public and offers a wide range of ELT supplies, including books, courses, games and examination resources. Our Pop-Up presentations, held in the exhibition area by partner institutions, highlight new developments in English Language Teaching. The next such conference will be in Belfast in May 2022.
IATEFL have a range of scholarships available to fund attendance of the annual conference, and around half of these do not require the applicant to be a member of IATEFL. Without this funding, the majority of the winners have stated that they would not have been able to access this significant opportunity.
Our Wider Membership Scheme (WMS) and Wider Membership Individual Scheme (WMIS) help the international ELT community reach out to teachers in parts of the world who may need additional financial support in order to become part of our teaching association. The WMIS scheme offers free IATEFL membership to individuals in economically developing countries where they may not have access to a local teaching association. We have also supported them in the forming or developing of a local teaching association which then has a more sustainable impact on the community as a whole. Under the WMS scheme, associates are offered the opportunity to bid for funding to subsidise a number of IATEFL memberships.
Our Jobs Market is available online throughout the year. It is not necessary to be a member in order to receive alerts when new adverts are placed.
Our Careers Zone, within the exhibition at the annual conference, is open to everyone and is the ideal setting for ELT employers and jobseekers to meet, conduct screenings and hold interviews. It also includes an advice zone and ‘how to’ sessions on different career routes in our sector, as well as a CV clinic where jobseekers can get professional advice on the presentation of their CV.
Our online bookshop houses a selection of publications aimed at supporting and developing those working in the ELT industry.
Our “How to” recordings are available to all from the IATEFL website and offer practical advice in the area of international conferences, from writing a speaker proposal to what to do when attending a conference for the first time.
In the year ending 31 August 2022 IATEFL collaborated with the British Council and EnglishUK for the second year running on the PRELIM project. PRELIM2 supported the development of over 2,500

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English language teachers through 40 individual partnerships between United Kingdom Language Institutes (UKIs) and English Teacher Associations (ETAs) worldwide.

Our work with other bodies in our sector is a valuable input into supporting the ELT industry as a whole. IATEFL writes regular articles for, and is represented on the ELT Journal panel and management board, and has a close relationship with other major membership associations, publishing houses and institutions worldwide.

ACHIEVEMENTS AND PERFORMANCE

The Association continues to chart its recovery from the severe impacts of the COVID-19 pandemic, as does the entire English teaching sector globally.

IATEFL has nonetheless continued to focus on its on-going projects and its priorities as set out in its Development Plan: its long term, rolling plan defined by the Board of Trustees, and informed by member feedback, which identifies key strategies for the association in order to ensure our continued relevance for the future.

Some more notable achievements were:

The first face-to-face IATEFL International Conference and Exhibition since 2019 was held in Belfast in May 2022. Whilst a little smaller than IATEFL conferences pre-COVID, it received very positive feedback from participants.
IATEFL and its 16 Special Interest Groups ran 104 online events during the year.
IATEFL worked in collaboration with the British Council and English UK for the second year in a row to run a project, named PRELIM, matching English language course providers in the United Kingdom with teaching associations in twenty countries, all identified as Official Development Assistance recipient countries. The project again focused on improving the language level and confidence of classroom teachers, and this time involved double the number of partnerships as the previous year. Training happened in the first three months of 2022, and reached over 2,500 teachers.
The association continued to carefully manage its income and expenditure in all areas in order to be able to continue to achieve its aims and provide a wide range of services to members and the wider English language teaching community.

EXECUTIVE COMMITTEE REPORTS

The Executive Committees summarise the work in their individual areas as follows:

Associates Committee

The work of the Associate Committee carried on throughout the year as Associate events returned to normal following the pandemic. The usual tasks of contributing to a bi-monthly ebulletin for Associates and articles for the Associates’ page in IATEFL newsletter Voices continued, as did the Committee’s active engagement in its social media platforms.

A successful face-to-face Associates’ Day was held in Belfast the day before the main conference and was attended by 43 representatives from Associate teaching associations worldwide. The day included talks by

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nine Associate representatives on topics of best practice, specific projects, and the challenges and successes they have faced.

The Associate committee Chair also formed part of the PRELIM 3 project, which saw the collaboration of IATEFL, the British Council and English UK for the third time. The project involves the pairing of 29 teaching associations with partner institutions from UK for the purpose of creating teaching material and resources for use in the teachers’ classroom in those countries. The vast majority of the teaching associations involved in the project are IATEFL Associates who will benefit from tailor-made resources built specifically for their context.

The largest project taken on by the Associates’ Committee, on behalf of the Board of Trustees, is a revision of the way that Associates’ can access and use IATEFL branding, such as the use of a specific IATEFL Associates’ logo and the tagline “…an Associate of IATEFL”. The purpose of this project is to ensure fair and equal opportunity and treatment of all Associates through access to services and support from IATEFL. The project, which was announced at the 2022 AGM, sets out to explore how the name and logo are used on Associate websites and publications with the aim of improving parity across the IATEFL family of Associates.

Membership Committee

Throughout the year IATEFL slowly gathered more members. The growth was modest but steady. The structure of the Association in the time of Covid reveals that now most members are in their forties or fifties, while the percentage of the youngest, those in their twenties, is more than three times lower than either of the strongest two age groups (40-49 and 50-59). The Covid-related crisis hit our youngest members the most.

The Membership Committee selects and hosts IATEFL webinars, which are attended by members and nonmembers alike. The criteria for webinar selection were refreshed, because the old criteria were based on the conference selection criteria that did not fully apply.

The Call for Webinar Presenters in the spring of 2022 attracted 29 proposals. The Webinar Selections Committee, consisting of all four volunteers on the Membership Committee, chose eleven webinars for 2022/23.

The Committee is responsible for the running of the IATEFL Facebook group, which keeps gaining new members - from 21,5K to 22,0K in the last year.

Together with a member of the Publications Committee the Membership Committee runs Views, IATEFL’s blog.

A Facebook fundraiser organised by an IATEFL volunteer brought in enough funds to cover eight individual memberships. A call for blog articles was opened, and the authors of the best eight articles, selected by the Membership Committee, received free membership packages.

Special Interest Groups (SIGs)

The sixteen SIGs have continued to make significant contributions throughout the year to carrying out IATEFL’s mission. Each SIG continues to run its own website, a regular periodical in the form of a newsletter, magazine or journal, as well as other publications, such as collections of articles and material, usually in the form of e-books. Most publications are digital in keeping with IATEFL’s sustainability goals. Regular online information is sent to members of individual SIGs as well as through the IATEFL eBulletin and in IATEFL

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Voices. SIGs also hold regular webinars which are open to members and also to non- members in keeping with the charitable aims of IATEFL. During the continuing pandemic, all events and meetings have been held online. This has enabled SIGs to reach many more members worldwide. SIGs have been extremely inventive and resourceful in developing and running different types of online event including webinars, conferences over several days, one-day events, forums, reading and discussion groups, informal meet-ups and celebrations, for instance of a publication or a SIG anniversary. Many events are held in cooperation with other IATEFL SIGs and / or with other ELT associations and institutions to share experience and expertise and provide a wider range of services to delegates. In some cases, delegates have been asked to pay a fee, make a donation or sponsor another delegate. Events are sometimes free or charged at a reduced rate for members.

Individual and conference events, training sessions and SIG Open Forums, where members and nonmembers can meet and obtain information about the SIG and SIG developments and the SIGs can highlight aspects of their work have been held. These often include presentations and discussions alongside the information about the SIG. in the past year, Open Forums and Pre- and Post-Conference events were held separate from, , but in conjunction with, the Annual Conference which was held online.

Short webinars and courses, providing information on online teaching and learning, have continued to be held to provide support during the ongoing pandemic. These may be offered free to all or with only nonmembers charged for attendance.

Highlights from the work of individual SIGs since the pandemic, include:

Increased activity and presence on Social Media and use of different social media, such as Twitter, Instagram and LinkedIn.
Maintaining the numbers of scholarships, enabling members to participate in SIG events and attend the IATEFL Annual conference in 2022 online.
Publication of SIG-led books and conference selections from SIG-organised conferences.
Redevelopment of SIG websites.
Increased number of webinars and larger web-based events throughout the year.

The SIG Coordinators as a group have also:

Carried out online meetings successfully to discuss matters relevant to all SIGs and deal with issues arising, both general and from the pandemic. From 2022 most regular Coordinators meetings are held online, with one less formal get-together before the Annual Conference.. As well as being in keeping with IATEFL’s sustainability goals, this has allowed more extraordinary meetings as the need arises to discuss specific issues
Prepared budgets and, with the IATEFL Treasurer, discussed and decided on economy measures during the pandemic without reducing member and non-member benefits substantially
Supported and cooperated with each other in dealing with issues arising in SIGs and SIG Committees
Continued to use the communication channels for more effective discussion and cooperation among SIG Coordinators, making online meetings more efficient and productive.
Continued to use, with the help of the SIGs and Publications Officer, homologue groups for the different roles within SIG committees. The committee members in these groups communicate online and discuss aspects of their SIG committee work.

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Conference Committee

The 55[th] Annual IATEFL Conference and Exhibition was held from May 18 – 21, 2022 in Belfast, Northern Ireland. The Conference and Exhibition included a full programme of activities and events with PreConference Events run by our Special Interest Groups being held on the day prior to the main conference.

There was a total of 406 academic sessions led by 482 speakers and a total of 1700 delegates. Due to personal reasons one of the four plenary speakers could not travel to Belfast and could not hence deliver his plenary. IATEFL's President volunteered to cover this academic spot since his research dealt with the same topic. All plenary sessions were livestreamed on social media for the wider English language teaching community unable to travel to Belfast to also benefit from. The Digital Committee also ran a daily livestream ‘IATEFL Live’ with interviews and discussion from the conference. These live shows reached 800-1700 people, the interviews 400-1500, and the plenaries 1500-800. As usual, there were also evening social events and a tribute session.

The IATEFL Annual Conference remains a priority for members at all stages of career development and regardless of profession or status, and given the changing realities, we are constantly exploring and discussing innovative ways of making the conference available and appealing to an even larger number of delegates in the coming years. Already, we have put in place a set of five criteria for selecting plenary speakers to ensure gender balance and geographical spread as well as professional and academic expertise for our plenary speakers. We continue to take feedback from conference delegates seriously in our choice of plenary themes.

Finally, there was a call for volunteers for Conf Com and Christopher Graham joined it, so now Conference Committee has four volunteer members in addition to the relevant Head Office staff members who are part of the committee.

Digital Committee

The digital committee continued to work as per its new mandate of June 2020, therefore focusing on supporting IATEFL’s online continuous professional development strategy. In 2022 it trialled some paid for synchronous short courses to both members and non-members. Additionally, it reactivated the IATEFL Moodle and is exploring hope to offer course through that. In 2020 we also began providing monthly livestreams on Facebook, and YouTube as a way of informing educators of IATEFL News and events. At the IATEFL conference we broadcast a series daily shows to give people a feel of the conference.

Publications Committee

During the period, the following was accomplished:

Members received our monthly eBulletin with news of the association at the association-wide level as well as news of the Special Interest Groups (SIGs). The eBulletin also supported the marketing of key IATEFL events such as webinars, publication, virtual conference, and volunteering opportunities association wide. Additionally, the eBulletin now allows for advertisements for sponsors to be included.
There is also now a regular mailing to non-members who have signed up to receive updates on the association and its activities. The number of subscribers to this has increased at a rapid rate, and it allows us the ability to promote IATEFL membership, as well as IATEFL events, to a much wider audience.

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Members also received the regular six issues of our flagship publication, Voices , according to schedule both in virtual and paper format, thus acknowledging the reality of some members who do not have access to connectivity.
The 2021 IATEFL Conference Selections (CS) was successfully launched and sent to all members. towards the end of this period. CS is the association’s peer-refereed publication connected to the presentations during the conference. This edition of CS included URLs of the presentations on which the papers were based to help members access recordings of the 2021 Virtual Conference.
The Editor of Voices, Tania Patterson announced her willingness to retire from this position. She has agreed to see the work of Voices through the post-conference issue.
Additionally, Ruby Vurdien, the Reviews editor for Voices , asked for her work to be remunerated. The decision was made to incorporate her as a full member of PubsCom thus being able to access committee member benefits since no compensation was approved. She confirmed her willingness to also leave her role in Voices .
Besides these activities, the Publications Committee engaged in the following activities:
Revision, editing and publication of a revised version of the “IATEFL Publication Guide,” the policy document that guides and structures any IATEFL publication. This was an enhanced version of the updated version published earlier in 2021.
The search and selection process of new members for the Committee. Marina González was elected and started working on specific tasks.
Editing and formatting services for the various SIG Newsletters was undertaken mainly by the Publications Officer at HO throughout the year.
The Publications Committee Chair attended the SIG Coordinators meetings so as to inform leadership of news and changes in policy.
After the Belfast face-to-face conference Aleksandra Popovski became the new Chair of Publications Committee (Vice President), as Gabriel Díaz Maggioli (President) transitioned to the Conference Committee.

FINANCIAL REVIEW

The accounts presented here are the consolidated accounts for IATEFL and its subsidiary, IATEFL Trading Ltd. Our total funds as at 31 August 2022 show a significant decrease in the net movement of funds by £103,108 with net outgoing resources before unrealised gains on investments amounting to a loss of £76,539. Total funds carried forward at the year-end amounted to £934,661.

Income increased by £234,134 when compared to the previous year, but expenditure also increased by £414,328. These figures are, however, still very different from pre-COVID norms.

The value of investments suffered a large drop in value, particularly in July and August 2022, decreasing in value by £26,569. This drop was a result of an economic backdrop of increased interest rates, UK inflation reaching 10.1% in July 2022 and the threat of recession, and therefore a decrease in value was to be expected. The investments continued to fall in value post year end, particularly following the September 2022 UK mini-budget, and the market has continued to experience great volatility but there are signs that the value of investments have started to recover in the first quarter of 2023. Investment income, particularly income from our equity investments, has improved though compared to income received in 2021. There has been additional income of £1,582 from investments, compared to the year to 31 August 2021.

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The association has continued to control its expenditure and carefully manage its cashflow over this period which continues to be challenging and uncertain.

Although membership numbers are starting to increase, they remain below pre-COVID levels, leading to a reduction in income from this route. This slower recovery reflects the wider recovery of the ELT sector in many areas, which also battles issues of professionals having left the sector and course providers and institutions having closed. The Association was able to run its 55[th] annual conference and exhibition in a face to face format in May 2022, in Belfast, Northern Ireland, the first face to face event we had been able to run since 2019, and we feel that this marked an important milestone in our recovery and the recovery of the ELT industry as a whole. However, it was tempered against a backdrop of continued travel restrictions, anxiety about the safety of large gatherings, concerns around the emergence of a new Covid variant, the impact of the Russia-Ukraine war (affected delegates and speakers unable to attend, and significant problems and delays in visa processing from other global destinations as the UK government prioritised its Ukraine Sponsorship Scheme), and a reduction in available funding for teachers through European schemes such as Erasmus Plus since Brexit was enacted. All of this impacted on attendance numbers. Whilst we were extremely pleased to have welcomed 1,700 attendees to the conference, these figures are well below our usual average attendance of 2,800 and had a significant impact on the financial results of the conference.

Our usual supporters and stakeholders have also found themselves in similar positions, with marketing budgets reduced, impacting on our bookings for exhibition stands, advertising and sponsorship opportunities.

We have managed expenditure to the best of our ability, and have continued to run the majority of meetings online, but the running costs of the face to face conference, which incurs many fixed rather than variable, delegate dependent costs, have resulted in a large increase in expenditure for this period. We felt that it was necessary to continue with a planned face to face conference though as we had liabilities we needed to honour to exhibitors and sponsors who had booked conference packages in 2020 and who had agreed to roll these bookings over to 2022, rather than taking refunds. This allowed the association to manage its cashflow through a very difficult time and the 2022 conference gave the opportunity for these contracts to be fulfilled.

Financial support from the United Kingdom government was provided in 2021 and the benefit IATEFL received from these amounted to £31,182, a combination of Economic Development Grants and the Coronavirus Job Retention Scheme. No such financial support was available for the 2022 financial year. A Coronavirus Business Interruption Loan (CBILS) of £100,000 was also taken out in 2021 and repayments of this loan commenced in June 2022. These repayments, being tied to interest rates, have also grown steadily since the point the loan was entered into.

As an overall picture, these figures for the financial year show that IATEFL continues to operate in a market that is only just starting to recover from the COVID pandemic and will continue to face on-going challenges and uncertainties. Continued financial vigilance: control of expenditure, management of cashflow, maximising and diversification of income generation, will all continue to be vital in the coming year. However, we remain optimistic that the sector will continue to recover and that the association will be able to benefit from this recovery. For example, latest reports indicate that the UK ELT sector saw a 346% increase in the junior segment and a 39.7% increase in adult student weeks delivered during the fourth quarter of 2022 when compared to the same quarter in 2021, and a forecast of 55-60% recovery in 2022 against 2022, with an anticipated 80% recovery in 2023. The demand for learning the English language has not diminished and learner numbers continue to grow.

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Investments and investment policy

IATEFL’s investments strategy during this period has been to continue to protect investments wherever possible, rather than drawing on them, in order to allow them to recover the significant value they lost due to the pandemic.

Investments are currently placed in two funds. Our Schroders Cazenove Charity Equity Value Fund A Income investments are focused on “Value” stocks and does take slightly higher risks in search of higher rewards. The second is our Cazenove Charity Bond Fund A which invests in fixed interest securities and derivatives.

Both funds began to rebuild their pre-COVID value, but suffered greatly in the early part of 2022 when the invasion of Russia into Ukraine upset global markets and caused inflation to increase. The pressure on production of food, fuel and fertilizer, increases in the cost of living and increases in interest rates have all affected stock market valuations, particularly towards the end of this financial period. Income generated from these investments has started to improve with an additional £1,582 being generated compared to the same period in 2021. Moving forward we expect them to continue to return to producing a stable and sustainable return for the association.

Other short-term deposits are intended, and have been used, to provide liquidity and cashflow assistance at this time and this has been prioritised over adding to investment funds at this time. The rise in interest rates has started to generate a small amount of income on invested short term deposits.

Reserves policy

Reserves are intended to provide the association with an amount of protection against adverse conditions and circumstances. It is clear that COVID-19 has impacted the association and its members in such a clear and specific way that it has been appropriate to use the association’s reserves to support the association’s on-going activities and services to members.

In its statement on the association’s Reserves policy for the year ending 2019, the annual report identified a designated capital reserve of £60,000 specifically allocated to act as a protection should our annual conference or other major event not go ahead or make substantial losses. It has not been feasible or possible since 2019 to enact this longer term reserves policy, as the association battles to deal with the challenges presented by the pandemic.

Once the major impacts of the COVID-19 pandemic have passed, the association is committed to restoring the pre-existing Reserves policy priority, and also to re-evaluate the figure attributed, whilst also continuing to operate to the benefit of the association’s members.

FUTURE PLANS

As part of the ongoing strategy and development plan, which is shared with members on our website and reviewed at AGM, the following areas have been identified as being our priority areas for the forthcoming year:

The development of online courses and training opportunities for members and non-members.
Continued review of the balance between member benefits and non-member benefits to ensure we fulfil our charitable aims whilst also ensuring that members of the association get clear and tangible benefits for their membership fee.
Continued progress in the area of sustainability, focusing on association activities, Head Office activities, the annual conference, and also on inspiring and promoting initiatives to members and

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stakeholders, as well as learning from them.

To monitor, represent and develop our responsibilities around diversity, inclusion and internationalisation and to ensure that it is a central ethos for the association and in all activities we pursue.

The Board of Trustees has also decided to undertake a longer term review of strategy, focusing on aligning the association with the needs and realities of the profession in the medium term future. It is intended this review will seek input from a wide range of members, non-members, institutions, current and potential stakeholders from throughout the sector.

Risk review

The Trustees have reviewed the major risks to the Charity. An assessment has been made on the likelihood of those risks occurring, and the potential impact if the risk did occur. Some of the principal risks identified during the conduct of the risk assessment include:

The continued risk and impacts of COVID-19 on the association.
The potential risk of any other such virus or mutation having a similar effect on the association.
Over dependence on surpluses derived from the annual conference.
Current downturn in some membership types, and advertising and sponsorship revenue. Particularly following the effects of COVID-19 on the English language teaching sector nationally and internationally.
Potential on-going impacts of the United Kingdom leaving the European Union.

The directors have thoroughly reviewed their risk assessment and are implementing further action in areas identified as medium or high risk. The review is an ongoing process and every effort is being made to mitigate these areas.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Status

The Charity was formed on 17 March 1967 and incorporated as a charitable company limited by guarantee on 14 August 1990. The Charity is governed by its Memorandum and Articles of Association.

Trustees

The Trustees of the company (who are also Directors for the purposes of Company law), are all listed on page 1 of these accounts and all served throughout the year, except where shown as “appointed” or “resigned”. A trustee will “resign” when they step down from the Board of Trustees at the end of their term.

The current board consists of eight Trustees (Directors). The roles assigned to the eight trustees are: President, Vice President, Treasurer, Secretary, Membership Committee Chair, Digital Committee Chair, Associates Representative and Special Interest Groups (SIGs) Representative.

Apart from the SIG Representative and Associate Representative roles, trustees are currently appointed using the following method:

A call for nominations is circulated with a role description. To be put forward as a nominee, you must be a current and fully paid up individual member of IATEFL (i.e. not be a member via an institutional membership) at the time of being nominated and any subsequent elections being held.

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The proposer and seconder must also be current members of IATEFL.
If more than one nomination is received for a position, a vote of the membership will be held.
The election of the successful candidate will be put forward for ratification at the annual general meeting.

The SIG Representative and Associate Representative are appointed using the same method outlined above but only from within the groups they represent.

The incoming Vice President serves for one year before becoming President for two years and outgoing Vice President for a further year. All other trustees serve for an initial three-year term which can be renewed for an additional three-year term.

Trustee induction

A comprehensive trustee induction pack is provided and follow up sessions with a current member of the board and senior member of staff from Head Office are also scheduled.

Elections for new trustees are scheduled in order to allow, whenever possible, for a short lead in where the current incumbent is still in place to allow climitisation for the new person.

Executive Committees

There are four Executive Committees and a trustee acts as Chair on each of them:

Conference Committee (currently chaired by the IATEFL President)
Publications Committee (currently chaired by the Vice President)
Membership Committee
Digital Committee

Various aspects of the association’s work are devolved to these Executive Committees. A Head Office Representative also sits on each of these Executive Committees. Other members of the Executive Committee are appointed following a call for nominations with a role description and must also be current individual members of the Association. The number of members appointed to an Executive Committee varies depending on the work the committee needs to undertake.

The trustees can seek guidance, input and advice on various aspects of the association’s work, from the Advisory Council, a body made up from internal and external representatives.

Other Committees exist within IATEFL to provide input into specific areas. These include:

Scholarship Committee
Proposals Committee
Conference Selections Committee
Wider Membership Scheme representative

The Charity has a Patron, David Crystal, and a Chief Executive, Jon Burton. Jon Burton is employed to manage a small Head Office team of ten staff. The trustees delegate the day to day management of the charity to the Chief Executive and he reports directly to the trustees. The other key management personnel would be the Deputy Chief Executive, Louise Atkins.

Related parties

IATEFL Trading Limited is the wholly owned trading subsidiary and is therefore a related party. The

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2022

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directors in IATEFL are also the directors in the trading subsidiary. All profits generated in the trading subsidiary are gift aided across to the charity.

Our relationship with the wider community

The ability of IATEFL to continue “linking, developing and supporting” on a global level is dependent on its ability to forge and maintain strong, two-way relationships with other Teaching Associations across the world. We would like to pay tribute to our volunteers for all of their time, support and commitment through their work on the SIGs and IATEFL Committees. Without their continued co-operation, the ability to make an effective contribution would be much diminished.

Statement of Trustees Responsibilities

The Trustees (who are also directors for the purpose of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the results of the charitable company for that period.

In preparing these financial statements the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102);
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditors

In so far as the Trustees are aware:

there is no relevant audit information of which the charitable company’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

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TRUSTEES’ REPORT

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Small Companies exemption

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

By order of the Board:

Shaun Wilden Chair of Digital Committee

Date: 24 May 2023

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

YEAR ENDED 31 AUGUST 2022

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Opinion

We have audited the financial statements of The International Association of Teachers of English as a Foreign Language (the 'parent charity') and its subsidiary (‘the group’) for the year ended 31 August 2022, which comprise the Group Statement of Financial Activities, the Group and Charity Balance Sheets, the Group Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the group and the parent charity’s affairs as at 31 August 2022 and of the group’s loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group or parent charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Notwithstanding the above, we do draw attention to note 2 of the financial statement explaining the trustees’ reasons why they have concluded the going concern basis remains appropriate.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

YEAR ENDED 31 AUGUST 2022

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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion 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' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Trustees' 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 its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

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

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities on pages 13 and 14, the Trustees 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 and parent charity'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 parent charity or to cease operations, or have no realistic alternative but to do so.

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

YEAR ENDED 31 AUGUST 2022

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Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

How the audit was considered capable of detecting irregularities, including fraud:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

we identified the laws and regulations applicable to the charity through discussions with management, and from our commercial knowledge and experience in the sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the accounts or the operations of the charity, including the Charities Act 2011 and the Companies Act 2006;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting correspondence; and
identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charity's accounts to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

YEAR ENDED 31 AUGUST 2022

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In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;
reading minutes of meetings of those charged with governance; and
enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charity's Trustees as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body for our audit work, for this report, or for the opinions we have formed.

Allan Hickie BSc FCA (Senior Statutory Auditor)

for and on behalf of

UHY Kent LLP

Chartered Accountants Statutory Auditors Thames House Roman Square Sittingbourne Kent ME10 4BJ

Date: 3 July 2023

THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

GROUP STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2022

Notes Unrestricted Funds £ 4 1,491 5 576,474 8 141,878 6 6,703 1,415 727,961 8 16,218 10 786,826 803,044 9 (75,083) 13d (26,569) (101,652) 13,525 (88,127) 929,010 19 840,883 INCOME AND ENDOWMENTS FROM: Donations, legacies and grants Charitable activities Other trading activities Investments Other TOTAL INCOME EXPENDITURE ON: Other trading activities Charitable activities TOTAL EXPENDITURE NET (EXPENDITURE) / INCOME BEFORE INVESTMENT LOSSES Net (loss) / gain on investments NET (EXPENDITURE) / INCOME BEFORE TRANSFERS Transfers between funds NET MOVEMENT IN FUNDS Reconciliation of funds Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Notes Unrestricted Funds £ 4 1,491 5 576,474 8 141,878 6 6,703 1,415 727,961 8 16,218 10 786,826 803,044 9 (75,083) 13d (26,569) (101,652) 13,525 (88,127) 929,010 19 840,883 INCOME AND ENDOWMENTS FROM: Donations, legacies and grants Charitable activities Other trading activities Investments Other TOTAL INCOME EXPENDITURE ON: Other trading activities Charitable activities TOTAL EXPENDITURE NET (EXPENDITURE) / INCOME BEFORE INVESTMENT LOSSES Net (loss) / gain on investments NET (EXPENDITURE) / INCOME BEFORE TRANSFERS Transfers between funds NET MOVEMENT IN FUNDS Reconciliation of funds Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Restricted 2022 *2021* Funds Total *Total* £ £ £ 75,890 77,381 *50,098* 3,134 579,608 *477,269* - 141,878 *38,962* 2,999 9,702 *8,063* - 1,415 *1,458*
	727,961	82,023 809,984 *575,850*
	16,218 786,826	- 16,218 *8,734* 83,479 870,305 *463,461*
	803,044	83,479 886,523 *472,195*
	(75,083) (26,569)	(1,456) (76,539) *103,655* - (26,569) *52,045*
	(101,652) 13,525	(1,456) (103,108) *155,700* (13,525) - -
	(88,127) 929,010	(14,981) (103,108) *155,700* 108,759 1,037,769 *882,069*
		93,778 934,661 *1,037,769*

All income and expenditure derive from continuing activities.

The notes on pages 22 to 41 form part of these financial statements

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THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

BALANCE SHEET AS AT 31 AUGUST 2022

31 August *31 August* 2022 *2021* £ £ FIXED ASSETS Intangible assets 13 19,457 28,214 Tangible assets 13 238,258 257,388 Investments 13 284,132 310,701 541,847 596,303 CURRENT ASSETS Debtors 14 143,354 175,843 Cash at bank and in hand 23 395,254 616,162 538,608 792,005 CREDITORS:amounts falling due within one year 15 69,127 255,539 NET CURRENT ASSETS 469,481 536,466 TOTAL ASSETS LESS CURRENT LIABILITIES 1,011,328 1,132,769 CREDITORS:amounts falling due after 16 76,667 95,000 one year NET ASSETS 934,661 1,037,769 THE FUNDS OF THE CHARITY: UNRESTRICTED FUNDS(incl. revaluation 17 840,883 929,010 reserve £87,029 [2021 - £113,598]) RESTRICTED FUNDS 18 93,778 108,759 TOTAL FUNDS 19 934,661 1,037,769 Group Notes	31 August *31 August* 2022 *2021* £ £ 19,457 28,214 238,258 257,388 284,133 310,702 Charity
	541,848 596,304
	167,139 184,308 321,933 556,934
	489,072 741,242
	61,810 203,015
	427,262 538,227
	969,110 1,134,531 76,667 95,000
	892,443 1,039,531
	798,665 930,772 93,778 108,759
	892,443 1,039,531

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The notes on pages 22 to 41 form part of these financial statements.

Approved by the Board for issue on 24 May 2023

Bethany Cagnol

Director

S Wilden

Director

Company Registration No. 02531041

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GROUP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Notes 2022 Total £ Cash flows from operating activities: Net cash provided by operating activities 22 (220,107) Cash flows from investing activities: Dividends and interest from investments 9,702 Purchase of property, plant and equipment (7,170) Purchase of intangible assets - Net cash used in investing activities 2,532 Cash flows from financing activities: Repayments of borrowing (3,333) Cash inflows from new borrowing - Net cash used in financing activities (3,333) Change in cash and cash equivalents in the year (220,908) Cash and cash equivalents at the beginning of the year 23 616,162 Cash and cash equivalents at the end of the year 23 395,254 Analysis of changes in net debt As at 01 09 2021 £ Cash 616,162 Debt: Loans falling due within one year (5,000) Loans falling due after more than one year (95,000) Total 516,162	*2021* *Total* £ (222,101) 8,063 - (649) 7,414 - 100,000 100,000 (114,687) 730,849 *616,162* £ (220,908) (15,000) 18,333 (217,575) Cashflows	As at 31 08 2022 £ 395,254 (20,000) (76,667)
		298,587

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1 GENERAL INFORMATION

The International Association of Teachers of English as a Foreign Language (IATEFL) is a company limited by guarantee registered in England and Wales (company number 02531041), which is also registered as a charity with the Charity Commission (charity number 1090853). The registered office is No 2 & 3 The Foundry, Seager Road, Faversham, Kent ME13 7FD.

2 ACCOUNTING POLICIES

The principal policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of accounting

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements.

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) (second edition)), the Financial Reporting Standard applicable in the UK and Ireland (FRS 102) (March 2018) and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees have to assess whether the use of the going concern basis to prepare the accounts is appropriate. They have to consider whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable 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.

The impact of Covid-19 continues to affect the association and continues to have significant impact on liquidity for IATEFL. The impact of the virus and the measures of governments to contain the virus has impacted heavily on the English language teaching (ELT) industry. Whilst the industry is starting to recover, travel restrictions in some parts of the world continue to affect international travel of students and teachers, whilst closures of schools meant many teachers left the industry and haven't returned. This in turn has impacted IATEFL with significant losses in membership numbers, both institutional and individual.

Whilst we did manage to hold a face to face conference in May 2022, our first since 2019, continued travel restrictions in some part of the world alongside a general concern about the safety of large gatherings due to the emergence of a new Covid variant, meant that our numbers were much lower than we would normally attract. However, we were extremely pleased with the number of delegates and exhibitors that did attend and felt it marked a positive turning point for IATEFL, and the industry, as a milestone in our recovery. We recognise the importance of the conference, not only for the generation of revenue but also to highlight our profile and maintain our place within the profession.

The war in Ukraine continues to impact the global situation and has impacted our membership demographics. We are also continuing to feel the effects of Brexit in terms of a lack of funding available to teachers for professional development, in particular Erasmus funding, as well as increased travel costs and difficulties in securing visas to attend the conference.

Whilst acknowledging the significant uncertainties that remain, the trustees remain confident that IATEFL will be able to weather the ongoing impact and strategy meetings are planned for 2023 with key stakeholders to consider many of these issues in greater depth.

Prudent cashflow forecasts have been prepared for the coming year, taking reduction in income into account, managing costs where able to do so, seeking alternative methods of generating revenue and adapting where we can to the needs of the membership to ensure we stay as relevant as possible. On reflection of this, the trustees have concluded that there are no material uncertainties about the charity's ability to continue as a going concern and that it remains appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

b) Consolidation

These financial statements consolidate the results of the charity and its wholly owned subsidiary, IATEFL Trading Limited.

The charity has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own income and expenditure account. The results of the charity for the year ended 31 August 2022 are included in note 25.

Exemption from the requirement to disclose transactions between the charity and its subsidiary company has been taken under section 33.1A of FRS 102 as the transactions occur between wholly owned members.

The charity has taken advantage of the disclosure exemption permitted by FRS 102 of the requirements of Section 7, 'Statement of Cash Flow', to not disclose a charity-only Statement of Cash Flows.

c) Volunteers

The charity relies heavily on its volunteers to allow it to carry out the wide variety of work that it does, across its diverse range of special interest groups.

The charity benefits greatly from the involvement and enthusiastic support of its volunteers. These include our Trustees, Special Interest Group (SIG) Coordinators and committee members. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not included in the financial statements

d) Income

Income is included in the Statement of Financial Activities when the charity has entitlement, receipt is probable and the amount can be valued with reasonable accuracy.

Income received relating to an event or conference which is to be held after the balance sheet date is deferred to the following year, or until the charity has entitlement.

Grant income received as compensation for expenses already incurred is recognised in income in the period in which it becomes receivable.

Investment income is recognised when receivable and the amount can be measured reliably, which is usually on notification of the dividend payable.

e) Expenditure

Expenditure is accounted for on an accrual basis, is recognised where there is a legal and constructive obligation to pay for the expenditure, and includes irrecoverable VAT where appropriate.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its members. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

f) Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation, as adjusted for any impairment losses. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

ul life as follows:
Freehold land and buildings:	Land	Nil
	Buildings	50 years
	Fixed Plant	10 years
Fixtures, fittings and equipment		4 years
Computer equipment		3 years

Depreciation is not charged on assets capitalised until the assets are brought into use. It is IATEFL policy that only assets above £250 are capitalised.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

g) Intangible fixed assets

Intangible fixed assets comprise 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. If such indication exists, the recoverable amount of the 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 of basic 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 includes the net gains and losses arising on revaluation and disposals throughout the year.

A source of financial risk faced by the charity is that of volatility 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 or sub 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 of the 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 subscription 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. A transfer 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 restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when 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 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.

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 price. 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 of three months or less from the date of acquisition or opening of the deposit or similar account.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

Creditors

Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

m) Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into the Statement of Financial Activities for the year.

n) Pension Costs

The charity operates a defined contribution scheme for the benefit of its employees. The pension costs charged in the Statement of Financial Activities represent the contributions payable by the charity during the year.

o) Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

3 LEGAL STATUS

IATEFL is a charitable company in England limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to provide an association for teachers of English as a foreign language and so advance education for the benefit of the public in the field of English language teaching.

4 DONATIONS, LEGACIES AND GRANTS

Unrestricted Funds £ Donations from individuals 1,491 Donations from other charitable bodies - Grants - 1,491	Restricted Funds £ 890 - 75,000 75,890	2022 Total £ 2,381 - 75,000 77,381	*2021* *Total* £ 6,916 12,000 31,182
			50,098

In 2021, £47,867 represented unrestricted funds and £2,231 represented restricted funds.

During the period, the group benefitted from a grant of £75,000 (2021: £nil) from Visit Belfast (acting as agent for Belfast City Council and Tourism Northern Ireland) under their Belfast and Northern Ireland Conference Support Scheme. The funding was provided to support the annual conference, which was held in Belfast in May 2022, and in accordance with our accounting policy, the grant provided is included in income over the same period as the conference which it supports. We received £nil (2021: £18,639) of government grants in the form of the Coronavirus Job Retention Scheme and £nil (2021: £12,543) of Economic Development Grants from Swale Council. There were no unfulfilled conditions or contingencies attached to these grants.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

5 INCOME FROM CHARITABLE ACTIVITIES

	Unrestricted	Restricted	2022	*2021*
	Funds	Funds	Total	*Total*
	£	£	£	£
Subscriptions	161,916	2,540	164,456	156,553
Conference	386,465	-	386,465	294,474
Events Income	28,093	-	28,093	25,857
Fundraising	-	594	594	-
Publications	-	-	-	385
	576,474	3,134	579,608	477,269

In 2021, £474,229 was derived from unrestricted funds and £3,040 from restricted funds.

Due to the Covid-19 global pandemic, IATEFL was forced to hold its 2021 conference online. The virtual format of the conference meant that some services were unable to be delivered and agreements were made to defer some of these services to the 2022 face to face conference.

The decision was also made in 2022 to transfer some of the services we offer for conference into IATEFL Trading Limited

6 INVESTMENT INCOME

Unrestricted £ Dividends - fixed interest 1,128 - equity funds 5,456 Interest on short term deposits 119 6,703	Restricted £ 506 2,442 51 2,999	2022 £ 1,634 7,898 170 9,702	*2021* £ 1,854 6,097 112
			8,063

In 2021, £5,324 represented unrestricted funds and £2,739 represented restricted funds.

7 INCOME

Approximately £414,759 (51.60%) (2021: £365,071 [63.40%]) of the Group's income relates to markets outside the United Kingdom.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

8 INCOME AND EXPENDITURE OF TRADING SUBSIDIARY

The Charity, which is registered in England, owns the whole of the issued share capital of IATEFL Trading Limited, Company number 07085385. The results of this company are summarised below:

Turnover Direct costs Management charge from parent company Administrative expenses PROFIT / (LOSS) BEFORE TAX Corporation tax on profit on ordinary activities PROFIT / (LOSS) AFTER TAX Gift aided to the charity RETAINED IN SUBSIDIARY The aggregate of assets, liabilities and funds was: Assets Liabilities Net liabilities / assets Represented by: Ordinary shares of £1 each Profit and loss account TOTAL FUNDS 9 NET INCOME / (EXPENDITURE) Group net income / (expenditure) is stated after charging: Depreciation and amortisation Auditor's remuneration: audit tax advisory services other financial services Interest on bank loans Amounts payable under operating leases - equipment	Year ended 31 August 2022 £ 141,878 (14,911)	*Year ended* *31 August* *2021* £ 38,962 -
	126,967 (66,900) (3,842)	38,962 (18,850) (5,331)
	56,225 2,535	14,781 (3,403)
	58,760 -	11,378 -
	58,760	11,378
	2022 £ 91,260 (49,042)	*2021* £ 80,639 (82,399)
	42,218	(1,760)
	1 42,217	1 (1,761)
	42,218	(1,760)
	2022 £ 35,057 8,200 585 1,500 629 919	*2021* £ 35,078 7,270 590 75 - 919

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

10 EXPENDITURE ON CHARITABLE ACTIVITIES

Costs directly allocated to activities Wages and salaries Staff training Cost of publishing & publications Cost of events Scholarships Grants IATEFL Projects Plenary speaker costs Conference travel and accommodation Conference venue and equipment hire Conference Programmer fee Conference online platform Publicity & marketing Committee meeting expenses Website, database & online solutions costs Printing, post & stationery Telephone Equipment leasing Sundry Loan interest Bad debts Irrecoverable VAT Support costs allocated to activities Wages and salaries Rent, rates and water Light and heat Insurance Cleaning & security disposal Repairs & maintenance Legal and professional Auditor's remuneration Bank & credit card charges Exchange rate variance Depreciation and amortisation Governance Total expenditure	Services to Members £ 41,341 - 48,201 10,200 300 500 1,826 - - - - - 1,457 22,618 19,612 1,519 748 - 283 629 - 1,347 119,824 4,281 2,349 3,307 2,480 2,585 1,486 8,250 2,818 - 35,057 26,681	Annual Conference £ 112,114 - - - 19,987 - - 5,773 29,034 244,984 2,300 - 5,072 - - 1,082 405 - 288 - 1,250 49,700 27,149 - - 6,185 - - - - 5,283 - - -	2022 *2021* Total *Total* £ £ 153,455 134,898 - - 48,201 36,000 10,200 1,803 20,287 10,121 500 - 1,826 - 5,773 900 29,034 - 244,984 - 2,300 - - 13,414 6,529 690 22,618 51 19,612 20,168 2,601 1,638 1,153 764 - 230 571 611 629 - 1,250 51,047 19,495 146,973 139,040 4,281 4,000 2,349 1,435 9,492 3,145 2,480 1,256 2,585 1,242 1,486 1,613 8,250 5,175 8,101 5,208 - 497 35,057 35,078 26,681 24,989
	359,699	510,606	870,305 463,461

In 2021, £460,887 represented unrestricted funds expenditure and £2,574 represented restricted funds expenditure.

11 STAFF COSTS AND TRUSTEES' REMUNERATION Staff costs of the Group were:- Wages and salaries Pension costs Social security costs	2022 £ 287,496 18,769 20,847	*2021* £ 262,650 17,505 18,772
	327,112	298,927

No employee received total employee benefits (excluding pension contributions) of more than £60,000 (2021 - none).

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

11 STAFF COSTS AND TRUSTEES' REMUNERATION (Cont'd)

The average number of employees including temporary staff during the year was as follows:

Services to members Annual Conference Administration and support	2022 Number 4 7 4	*2021* *Number* 4 3 3
	15	10

The charity employs a number of stewards on a part time basis to work during the conference. The conference was held virtually in 2021 and therefore no stewards are included in the average number of employees. The average number of employees including temporary staff during the year calculated on the basis of full time equivalent was as follows:

Services to members Annual Conference Administration and support	2022 Number 2 4 4	*2021* *Number* 2 3 3
	10	8

The trustees consider the key management personnel of the charity to be the trustees, the Chief Executive and the Deputy Chief Executive.

The trustees received no remuneration or benefits-in-kind during the year. Five trustees were reimbursed expenses of £1,729 and had travel costs of £355 (2021: £nil) paid directly by the charity. All costs incurred were for travel to attend the annual conference where they represented IATEFL. Covid 19 meant that all meetings were held online in the year to 31 August 2021 and no expenses were incurred by Trustees during the prior year which required reimbursement.

The total employee benefits (including employer's pension contributions and employer's national insurance contributions) paid to key management personnel amounted to £105,599 (2021: £94,986).

12 TAXATION

The International Association of Teachers of English as a Foreign Language is a registered charity and is therefore potentially exempt from taxation on its income and gains as the Charity falls within the definition of a charitable company as defined in Part 1, Schedule 6 of the Finance Act 2010. No tax charge has arisen during the year.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

13(a) INTANGIBLE FIXED ASSETS - GROUP AND CHARITY

Cost At 31 August 2021 Additions Disposals As at 31 August 2022 Amortisation At 31 August 2021 Charge in year Disposals As at 31 August 2022 Net Book Value At 31 August 2022 At 31 August 2021	Website and database £ 43,787 - -
	43,787
	15,573 8,757 -
	24,330
	19,457
	28,214

13(b) TANGIBLE FIXED ASSETS - GROUP

Freehold land and buildings £ 427,427 - -	Fixtures, Fittings and Equipment £ 26,619 1,098 -	Computer Equipment £ 22,972 6,072 -	Total £ 477,018 7,170 -
427,427	27,717	29,044	484,188
174,225 21,778 -	25,715 1,074 -	19,690 3,448 -	219,630 26,300 -
196,003	26,789	23,138	245,930
231,424	928	5,906	238,258
253,202	904	3,282	257,388

Included in the cost above is land with a value of £100,000 that is not depreciated.

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13(c) TANGIBLE FIXED ASSETS - CHARITY

Freehold land and buildings £ 427,427 - -	Fixtures, Fittings and Equipment £ 26,619 1,098 -	Computer Equipment £ 22,972 6,072 -	Total £ 477,018 7,170 -
427,427	27,717	29,044	484,188
174,225 21,778 -	25,715 1,074 -	19,690 3,448 -	219,630 26,300 -
196,003	26,789	23,138	245,930
231,424	928	5,906	238,258
253,202	904	3,282	257,388

Included in the cost above is land with a value of £100,000 that is not depreciated

13(d) FIXED ASSET INVESTMENTS - GROUP

Listed investments: Market value at 1 September 2021 Additions Disposal proceeds Net (loss) / gain in year Market value at 31 August 2022 The above is made up of the following: SUTL Cazenove Charity Equity Value Fund A Income SUTL Cazenove Charity Bond Fund A Income	2022 £ 310,701 - - (26,569)	*2021* £ 258,656 - - 52,045
	284,132	310,701
	Market value £ 192,699 91,433	*Market* *value* £ 194,481 116,220
	284,132	310,701

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

13(e) FIXED ASSET INVESTMENTS - CHARITY Listed investments: Market value at 1 September 2021 Additions Disposal proceeds Net gain / (loss) in year Market value at 31 August 2022 Unlisted investments: Equity investment in IATEFL Trading Limited Listed investments include the following material amounts: SUTL Cazenove Charity Equity Value Fund A Income SUTL Cazenove Charity Bond Fund A Income	2022 £ 310,701 - - (26,569)	*2021* £ 258,656 - - 52,045
	284,132 1	310,701 1
	284,133	310,702
	192,699 91,433	194,481 116,220
	284,132	310,701

The investment in IATEFL Trading Limited, a company incorporated in England and Wales, represents a 100% shareholding.

Group 31 August 2022 £ 10,822 - - 1,872 130,660	*Group* *31 August* *2021* £ 10,859 - 543 - 164,441	Charity 31 August 2022 £ 10,596 41,723 - 594 114,226	*Charity* *31 August* *2021* £ 5,882 29,876 543 - 148,007
143,354	175,843	167,139	184,308
Group 31 August 2022 £ 20,000 2,956 1,953 2,333 5,457 26,689 9,739	*Group* *31 August* *2021* £ 5,000 41,762 2,083 2,708 9,362 15,921 178,703	Charity 31 August 2022 £ 20,000 2,685 1,953 2,333 5,457 21,743 7,639	*Charity* *31 August* *2021* £ 5,000 31,414 2,083 2,708 8,869 13,317 139,624
69,127	255,539	61,810	203,015
178,703 6,467 (175,431)	499,792 10,653 (331,742)	139,624 6,467 (138,452)	448,067 569 (309,012)
9,739	178,703	7,639	139,624

Deferred income is recognised in respect of fees for future events which have been received in advance.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

16 CREDITORS: AMOUNTS DUE AFTER Group *Group* Charity *Charity* ONE YEAR 31 August *31 August* 31 August *31 August* 2022 *2021* 2022 *2021* £ £ £ £ CBILS loan 76,667 95,000 76,667 950,000 17 UNRESTRICTED FUNDS As at Income Expenditure Transfers As at 01 09 21 31 08 22 GROUP: £ £ £ £ £ Designated Funds : Special Interest Group Funds: Business English 62,383 12,046 (7,144) 1,931 69,216 Learning Technologies 44,432 8,036 (3,788) (1,666) 47,014 Leadership & Management 30,693 3,648 (1,748) (935) 31,658 ES(O)L 21,594 1,852 (1,525) 260 22,181 ESP 47,999 3,754 (2,024) (1,878) 47,851 Global Issues 10,201 3,294 (1,032) (1,129) 11,334 Learner Autonomy 10,620 5,971 (3,915) (923) 11,753 Literature 9,320 2,722 (2,726) (375) 8,941 Pronunciation 20,231 4,780 (2,457) (743) 21,811 Research 25,556 3,208 (3,123) 1,717 27,358 Teacher Development 49,414 3,534 (1,832) (2,072) 49,044 Teacher Trainers & Educators 85,112 7,438 (2,305) (1,000) 89,245 Testing, Eval'n & Assesm't 70,002 5,029 (3,130) (232) 71,669 Young Learners & Teenagers 12,983 3,464 (4,864) 484 12,067 Materials Writing 22,171 6,091 (4,496) (1,381) 22,385 Inclusive Practices and SEN 4,118 1,478 (242) (633) 4,721 Wider Membership Scheme 207,374 6,244 - - 213,618 Gillian Porter Ladousse Travel Scholarship Fund 4,531 136 - - 4,667 Gillian Sturtridge First Time Speakers Scholarship Fund 11,166 337 (1,045) (242) 10,216 Property Fund 253,202 - (21,778) 231,424 General Fund* (74,092) 644,899 (782,217) 44,120 (167,290) 929,010 727,961 (829,613) 13,525 840,883 In 2021, IATEFL took advantage of the government backed Coronavirus business interruption loan scheme (CBILS). No interest was due on this loan for a period of 12 months from initial drawdown (June 2021). Following this period, interest at a rate of 2.4% per annum over base rate became chargeable with the loan due to be repaid within 72 months after the first drawdown of the facility.	16 CREDITORS: AMOUNTS DUE AFTER Group *Group* Charity *Charity* ONE YEAR 31 August *31 August* 31 August *31 August* 2022 *2021* 2022 *2021* £ £ £ £ CBILS loan 76,667 95,000 76,667 950,000 17 UNRESTRICTED FUNDS As at Income Expenditure Transfers As at 01 09 21 31 08 22 GROUP: £ £ £ £ £ Designated Funds : Special Interest Group Funds: Business English 62,383 12,046 (7,144) 1,931 69,216 Learning Technologies 44,432 8,036 (3,788) (1,666) 47,014 Leadership & Management 30,693 3,648 (1,748) (935) 31,658 ES(O)L 21,594 1,852 (1,525) 260 22,181 ESP 47,999 3,754 (2,024) (1,878) 47,851 Global Issues 10,201 3,294 (1,032) (1,129) 11,334 Learner Autonomy 10,620 5,971 (3,915) (923) 11,753 Literature 9,320 2,722 (2,726) (375) 8,941 Pronunciation 20,231 4,780 (2,457) (743) 21,811 Research 25,556 3,208 (3,123) 1,717 27,358 Teacher Development 49,414 3,534 (1,832) (2,072) 49,044 Teacher Trainers & Educators 85,112 7,438 (2,305) (1,000) 89,245 Testing, Eval'n & Assesm't 70,002 5,029 (3,130) (232) 71,669 Young Learners & Teenagers 12,983 3,464 (4,864) 484 12,067 Materials Writing 22,171 6,091 (4,496) (1,381) 22,385 Inclusive Practices and SEN 4,118 1,478 (242) (633) 4,721 Wider Membership Scheme 207,374 6,244 - - 213,618 Gillian Porter Ladousse Travel Scholarship Fund 4,531 136 - - 4,667 Gillian Sturtridge First Time Speakers Scholarship Fund 11,166 337 (1,045) (242) 10,216 Property Fund 253,202 - (21,778) 231,424 General Fund* (74,092) 644,899 (782,217) 44,120 (167,290) 929,010 727,961 (829,613) 13,525 840,883 In 2021, IATEFL took advantage of the government backed Coronavirus business interruption loan scheme (CBILS). No interest was due on this loan for a period of 12 months from initial drawdown (June 2021). Following this period, interest at a rate of 2.4% per annum over base rate became chargeable with the loan due to be repaid within 72 months after the first drawdown of the facility.	Group 31 August 2022 £ 76,667	*Group* *31 August* *2021* £ 95,000	Charity 31 August 2022 £ 76,667	*Charity* *31 August* *2021* £ 950,000
	929,010	727,961	(829,613)	13,525	840,883

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

UNRESTRICTED FUNDS (cont'd) *GROUP:* *Designated Funds :* Special Interest Group Funds: Business English Learning Technologies Leadership & Management ES(O)L ESP Global Issues Learner Autonomy Literature Pronunciation Research Teacher Development Teacher Trainers & Educators Testing, Eval'n & Assesm't Young Learners & Teenagers Materials Writing Inclusive Practices and SEN Wider Membership Scheme Gillian Porter Ladousse Travel Scholarship Fund Gillian Sturtridge First Time Speakers Scholarship Fund Property Fund *General Fund*	*As at* *01 09 20* *(Restated)* £ 54,787 42,436 28,958 18,875 46,773 8,849 8,688 7,938 17,438 22,215 47,595 79,332 68,910 9,186 17,529 (462) 202,431 4,423 11,448 274,980 (208,754)	*Income* £ 9,197 4,853 3,488 3,591 5,477 3,082 3,500 2,204 5,164 5,907 4,287 7,564 3,587 5,344 7,702 5,227 4,943 108 273 - 482,342	Expenditure * £ (2,354) (660) (710) (261) (2,005) (917) (500) (152) (1,160) (951) (823) (6) (1,863) (2,703) (1,114) (162) - - - - (401,235)	*Transfers* £ 753 (2,197) (1,043) (611) (2,246) (813) (1,068) (670) (1,211) (1,615) (1,645) (1,778) (632) 1,156-) (1,946) (485) - - (555) (21,778) 53,555	*As at* *31 08 21* £ 62,383 44,432 30,693 21,594 47,999 10,201 10,620 9,320 20,231 25,556 49,414 85,112 70,002 12,983 22,171 4,118 207,374 4,531 11,166 253,202 (74,092)
	763,575	567,840	(417,576)	15,171	929,010

including (gains) / losses on investments

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

As at 01 09 21 £ 62,383 44,432 30,693 21,594 47,999 10,201 10,620 9,320 20,231 25,556 49,414 85,112 70,002 12,983 22,171 4,118 207,374 4,531 11,166 253,202 (72,330)	Income £ 12,046 8,036 3,648 1,852 3,754 3,294 5,971 2,722 4,780 3,208 3,534 7,438 5,029 3,464 6,091 1,478 6,244 136 337 - 584,701	Expenditure £* (7,144) (3,788) (1,748) (1,525) (2,024) (1,032) (3,915) (2,726) (2,457) (3,123) (1,832) (2,305) (3,130) (4,864) (4,496) (242) - - (1,045) - (765,999)	Transfers £ (2,894) (1,666) (1,210) (740) (1,878) (1,129) (923) (775) (943) (1,283) (2,072) (2,125) (1,332) (1,436) (1,881) (633) - - (242) (21,778) 58,465	As at 31 08 22 £ 64,391 47,014 31,383 21,181 47,851 11,334 11,753 8,541 21,611 24,358 49,044 88,120 70,569 10,147 21,885 4,721 213,618 4,667 10,216 231,424 (195,163)
930,772	667,763	(813,395)	13,525	798,665
*As at* *01 09 20* *(Restated)* £ 54,787 42,436 28,958 18,875 46,773 8,849 8,688 7,938 17,438 22,215 47,595 79,332 68,910 9,186 17,529 (462) 202,431 4,423 11,448 274,980 (195,614)	*Income* £ 9,197 4,853 3,488 3,591 5,477 3,082 3,500 2,204 5,164 5,907 4,287 7,564 3,587 5,344 7,702 5,227 4,943 108 273 - 462,230	Expenditure * £ (2,354) (660) (710) (261) (2,005) (917) (500) (152) (1,160) (951) (823) (6) (1,863) (2,703) (1,114) (162) - - - - (392,501)	*Transfers* £ 753 (2,197) (1,043) (611) (2,246) (813) (1,068) (670) (1,211) (1,615) (1,645) (1,778) (632) 1,156-) (1,946) (485) - - (555) (21,778) 53,555	*As at* *31 08 21* £ 62,383 44,432 30,693 21,594 47,999 10,201 10,620 9,320 20,231 25,556 49,414 85,112 70,002 12,983 22,171 4,118 207,374 4,531 11,166 253,202 (72,330)
776,715	547,728	(408,842)	15,171	930,772

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

UNRESTRICTED FUNDS (cont'd)
Purposes of designated funds:
Special Interest Groups:
Business English	BESIG represents the interests and needs of the international business English
	teaching community
Learning Technologies	LTSIG focuses on all aspects of technology used by teachers and students in
	language teaching, from online tools, computer-mediated communication,
	corpora and mobile technology.
Leadership and Management	LAMSIG aims to raise awareness among the ELT profession about management
	issues and contribute to the development of good management practices
ES(O)L	ES(O)L is a SIG dedicated to teachers who teach English to people whose first
	language is not English and who are settled in a country or environment where
	English is the main spoken language. Theses language learners may include
	refugees, asylum seekers and migrant workers. ESOLSIG aims to promote
	effective language learning development opportunities and best practice across
	different countries and educational systems.
ESP	ESPSIG focuses on English for Specific Purposes, English for Academic
	Purposes and English for Occupational / Professional / work purposes.
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 of social
	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	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	ReSIG is for anyone interested in the research of teaching 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 & Educators	TTEdSIG aims to support ELT teachers, teacher educators and teacher trainers
	on the aspects of pre and in service teacher education.
Testing, Evaluation &	TEASIG is for anyone interested or involved in testing, evaluation and
Assessment	assessment in ELT
Young Learners & Teenagers	YLTSIG leads, drives change and sets standards in teaching English to young
	learners and teenagers (ages 3 to 17) for training and development, classroom
	practice and assessment.
Materials Writing	MaWSIG aims to share and develop best practice in ELT writing and offers
	professional development for writers and editors.
Inclusive Practices & SEN	IPSENSIG shares best practices and experiences in accurately identifying
	language learners' additional needs and disseminates information about
	inclusive teaching methods, materials and resources for working with learners
	who experience barriers in accessing education.
Wider Membership Scheme	The fund was created to enable the Charity to provide, if required, discounted
	membership to teachers not able to afford it throughout the world.
Gillian Porter Ladousse	A designated fund has been established for the Gillian Porter Ladousse Fund.
Travel Scholarship Fund	This is in addition to the restricted fund and will enable IATEFL to better fulfil the
	aims of this scholarship and finance scholarship winners appropriately.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

UNRESTRICTED FUNDS (cont'd)

Gillian Sturtridge First Time Speaker Scholarship Fund

Property Fund

Transfers between funds

A designated fund has been established for the Gillian Sturtridge First Time Speaker Fund. This is in addition to the restricted fund and will enable IATEFL to better fulfil the aims of this scholarship and finance scholarship winners appropriately.

It was considered appropriate by the trustees to create a separate fund to hold the net book value of the land and buildings purchased in 2013, net of the long term mortgage liability, to give a more transparent representation of the funds available to the trustees for general expenditure purposes. The mortgage is now fully repaid and the balance just represents the net book value of the land and buildings.

The transfers between funds represent an amalgamation of administration costs, internal cost transfers and income generated by individual SIG's which is included in the charity's Trading company.

As at 01 09 21 £ 28,416 44,984 10,502 4,792 480 6,221 5,954 7,136 (146) 420 -	Income £ 3,370 1,361 284 166 26 268 258 189 242 859 75,000	Expenditure £ - (1,000) (1,800) (250) (401) - - (1,402) (1,800) (1,826) (75,000)	Transfers £ (14,525) (242) (312) (255) (65) (65) (312) 1,704 547 -	As at 31 08 22 £ 17,261 45,103 8,674 4,708 (150) 6,424 6,147 5,611 - - -
108,759	82,023	(83,479)	(13,525)	93,778
*As at* *01 09 20* *(Restated)* £ 37,200 44,480 11,003 5,162 25 271 6,097 5,837 8,153 266 -	*Income* £ 4,122 1,104 269 230 20 809 334 327 184 191 420	*Expenditure* £ - (300) (470) (300) (300) (300) - - (601) (303) -	*Transfers* £ (12,906) (300) (300) (300) 255 (300) (210) (210) (600) (300) -	*As at* *31 08 21* £ 28,416 44,984 10,502 4,792 - 480 6,221 5,954 7,136 (146) 420
118,494	8,010	(2,574)	(15,171)	108,759

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THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

18 RESTRICTED FUNDS (cont'd) Purposes of restricted funds:

Wider Membership Scheme This scheme encourages reduced rate membership in IATEFL for teachers who could not otherwise afford it. Associate members are able to submit a bid for WMS funding with which they can offer a number of subsidised IATEFL associate memberships to their members.

WR Lee Scholarship Fund The WR Lee Scholarship Fund was set up in memory of our late Founder and Chair with the purpose of helping 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 of our 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. It was renamed the Gillian Porter Ladousse Fund in 2002 in memory of Gillian Porter Ladousse. Gillian Sturtridge First Time This fund was started from the transfer of the Gillian Sturtridge Memorial Fund Speaker Scholarship Fund held by the University of Reading and the balance of the 1st Time 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 2016 to celebrate the 50th IATEFL conference and is aimed at funding a practicing teacher to attend and present at the conference. Wider Membership Individual The Wider Membership Individual Scheme aims to help teachers living in Scheme countries where there are no Associates of IATEFL. Initially aimed at the continent of Africa, this is now open to anyone who does not have access to a local IATEFL Associate organisation and who, therefore, cannot take part in the original Wider Membership Scheme to join IATEFL. The WMIS fund consists of two 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 re paid by these two funds in equal parts. Africa Scholarship The IATEFL 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 of funds transferred to IATEFL. The terms of this 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 until the funds were depleted. 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. IATEFL Projects IATEFL Projects aims to provide grants on an annual basis to an IATEFL Associate in order for them to fund a project, making an improvement to language teaching and learning in their local community. Bids are opened on an annual basis and Associates are invited to submit a project plan and budget. Submissions are reviewed by a committee before the grant is awarded to one or more applicants. IATEFL Conference During the period, the group benefitted from a grant of £75,000 (2021: £nil) from Visit Belfast (acting as agent for Belfast City Council and Tourism Northern Ireland) under their Belfast and Northern Ireland Conference Support Scheme. The funding was provided to support the annual conference, which was held in Belfast in May 2022, and the funds were fully utilised in the same period as the conference was held. Transfers between funds Transfers represent an element of costs that are to be attributed to an unrestricted fund. For instance, if a scholarship includes a registration to a Pre Conference Event, a membership or a conference registration.

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THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

19 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

General Funds £ 6,834 19,457 284,132 (401,046) (76,667)	Designated Funds £ 231,424 - - 776,749 -	Restricted Funds £ - - - 93,778 -	Total £ 238,258 19,457 284,132 469,481 (76,667)
(167,290)	1,008,173	93,778	934,661
*General* *Funds* £ 4,186 28,214 310,701 (322,193) (95,000)	*Designated* *Funds* £ 253,202 - - 749,900 -	*Restricted* *Funds* £ - - - 108,759 -	*Total* £ 257,388 28,214 310,701 536,466 (95,000)
(74,092)	1,003,102	108,759	1,037,769

20 PENSION SCHEME

The charitable company operates a defined contribution pension scheme open to all permanent employees. During the year the charitable company contributed £17,686 (2021: £17,505) on behalf of employees who have opted into the scheme. Of these contributions £1,953 (2021: £2,083) remained outstanding as at the balance sheet date and is included within current liabilities.

21 RELATED PARTY TRANSACTIONS

Under the terms of the charity's Memorandum and Articles of Association, the charity is empowered to make reasonable and proper payments to members for services actually rendered to the charity. In their capacity as members of IATEFL, Trustees are obliged to pay annual subscriptions due to the charity and are entitled to take advantage of the services offered by the charity and its subsidiary company, on the same terms offered to all members, or to the general public. Where members or their connections provide services to, or utilise any other services or facilities of the charity, the amounts paid to, or charged by the charity are based on either: - standard rates paid by the charity to members and non-members alike for services such as conference plenary fees, publication design work and conference programming; or

rates negotiated on behalf of the charity, independently of the member involved, by the Board, or their delegated committee, based on competitive tenders or general commercial rates.

During the year the charity is aware that payments have been made by IATEFL for commercial services provided to it, or charges made by the institution for utilising other services or facilities of the charity, by certain members of the Board of Trustees, or their connections, as follows:

The charity engages the services of European Language Competence (ELC) to undertake design work on the TEASIG publication. ELC is owned by Mr Rudolf Camerer, an IATEFL member, who is the husband of Judith Mader, a Trustee of the charity. During the year the charity was invoiced £1,100 (2021: £1,200) to ELC in respect of services provided of which £nil (2021: £nil) was owing at the year end.

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THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

22 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES Adjustments for: Depreciation and amortisation charges Losses / (gains) on investments Dividends and interest from investments Decrease / (increase) in debtors (Decrease) in creditors Net cash provided by operating activities 23 ANALYSIS OF CASH AND CASH EQUIVALENTS Cash in hand Notice deposits (less than 3 months) Overdraft facility (payable on demand) Total Net (expenditure)/income for the year (as per Statement of Financial Activities)	2022 £ (103,108) 35,057 26,569 (9,702) 32,489 (201,412)	*2021* £ 155,700 35,078 (52,045) (8,063) (67,303) (285,468)
	(220,107)	(222,101)
	2022 £ 395,254 - -	*2021* £ 616,162 - -
	395,254	616,162

24 OPERATING LEASE COMMITMENTS

At 31 August 2022, the group had total future minimum commitments under non-cancellable operating leases as follows:

Within one to five years Amounts due: Within one year	2022 *2021* £ £ 230 919 230 230 1,149 Group -	2022 *2021* £ £ 230 919 230 230 1,149 Group -	2022 *2021* £ £ 230 919 230 230 1,149 Charity -	2022 *2021* £ £ 230 919 230 230 1,149 Charity -
	230	1,149	230	1,149

25 RESULTS OF THE CHARITY

Total income Total expenditure Net (expenditure) / income before (loss) / gain on investments Net (loss) / gain on investments Net (expenditure) / income for the year	2022 £ 735,006 (870,305)	*2021* £ 555,738 (463,461)
	(135,299) (26,569)	92,277 52,045
	(161,868)	144,322

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THE INTERNATIONAL ASSOCIATION OF TEACHERS OF ENGLISH AS A FOREIGN LANGUAGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

26 CHARITY: GROUP: FINANCIAL ASSETS AND LIABILITIES Financial assets measured at fair value through income and expenditure Financial assets measured at fair value through income and expenditure	2022 £ 560,191	*2021* £ 814,322
	633,512	873,550

Financial assets measured at fair value through income and expenditure comprise of listed fixed asset investments and cash at bank and in hand.

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