OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

International Federation of Professional Aromatherapists Company limited by guarantee

Directors' report and financial statements

for the year ended 31 March 2023

Charity registration number 1091325 Company registration number 04388652

International Federation of Professional Aromatherapists Company limited by guarantee

Contents

Page
Directors' and trustees report 1 - 6
Independent examiners report 7
Statement of financial activities 8
Balance sheet 9 - 10
Notes to the financial statements 11 - 16

International Federation of Professional Aromatherapists Company limited by guarantee

Directors' and trustees report for the year ended 31 March 2023

The directors and trustees present their report and the financial statements for the year ended 31 March 2023.

Reference and administrative details
Company name: International Federation of Professional Aromatherapists
Charity registration number: 1091325
Company registration number: 04388652
Registered office: 82 Ashby Road
Hinckley
Leicestershire
LE10 1SN
Company secretary: R Morrice
Treasurer: Ms J Court
Independent examiner: Integra Accounting Limited
5 Station Road
Hinckley
Leicestershire
LE10 1AW
Bankers: HSBC Bank PLC
10 Market Place
Hinckley
Leicestershire
LE10 1NU

Directors

The directors (who are also trustees of the charity for the purpose of charity law) who served during the year are as stated below:

Louise Carta Deborah Moore
Suk Kwan Chan Sunita Teckchand
Jane Court Beth Thomas Resigned 18.11.22
Christine Courtney Dr Nicole Bou Khalil Elected 22.03.23
Kazue Gill Yasmine El Ghamrawy Elected 18.11.22
Manuela Isgro David Wilson Elected 18.11.22
Milena Ivanova Resigned 18.11.22 Joanne Woodward Elected 18.11.22
Emma Gibbs Elected 18.11.22, resigned 17.02.23

Page 1

International Federation of Professional Aromatherapists Company limited by guarantee

Directors' and trustees report for the year ended 31 March 2023

.................... continued

Structure governance and management

The Charity was incorporated as a private company limited by guarantee on 6 March 2002. The company registration number is 04388652. The charitable company is governed by its Memorandum and Articles of Association which outline the administration, objects and powers of the charity.

The Articles provide for the governing body to be appointed from its membership by election at the annual General Meeting or Directors ("Trustees") can also be co-opted by the Board (the charity's governing body) as a vacancy arises. All members of the Board give their time voluntarily and receive no benefits from the Charity. Following the Annual General meeting in 2022 the Directors met and agreed to appoint Christine Courtney as Chair and re-appoint Jane Court as Treasurer.

The Directors are required to give an undertaking to be bound by the Trustees Code of Conduct is the discharge of their duties. The Code aims to ensure that the Directors both collectively and individually, place the interests of the Charity before any personal interests.

A culture of sound management of resources forms the basis of the Directors decision making and delegation of powers, with appropriate oversight, to subcommittees of the Board whilst not being over cautious or risk averse. The Board has established subcommittees to manage and advise on specific operational areas with limited authority and with specific terms of reference.

The Board works effectively as a team and has developed strong working relationships and recognises that Directors (''Trustees'') must have appropriate skills, attributes, knowledge, and commitment to be effective and places appropriate emphasis on these qualities in the Trustee recruitment process.

The Board has access to professional charity governance advice and is a member of the National Council for Voluntary Organisations which offers support and an online resource for small charities.

It is intended, as far as possible, to maintain a broad range of skills within the Board of Trustees, covering education, management, finance and business skills.

Page 2

International Federation of Professional Aromatherapists Company limited by guarantee

Directors' and trustees report for the year ended 31 March 2023

Objectives and activities

The principal objective of the Charity is the preservation of health by advancing knowledge, practice and expertise in aromatherapy by education, teaching and training and other lawful charitable means.

The Federation's members are trained to high and exacting standards and the organisation considers itself a centre of excellence for clinical and holistic aromatherapy globally.

The activities undertaken by the Charity are in support of these objectives and include the following:

The Directors have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charitable company's aims and objectives and in planning future activities. In particular, the Directors have considered how planned activities will contribute to the aims and objectives set.The Directors have also used the Charity Governance Code for Smaller Charities guiding principles as mandated by the members at the last Annual General Meeting.

Page 3

International Federation of Professional Aromatherapists Company limited by guarantee

Directors' and trustees report for the year ended 31 March 2023

.................... continued

Financial review

The results of the year and financial position are shown in the annexed financial statements.

The organisation reports a net loss for the year of £8,281 (2022: £12,491) and Net Assets of £261,239 (2022: £269,520) which reflects the loss.

The total income increased to £144,071 (2022: £142,936), a 1% increase on the previous year. This is mainly attributable to an increase in membership fees from £124,689 to £128,499.

The total expenditure decreased by over £3k during the year to £152,352 (2022: £155,427) a 2% decrease on the previous year. Management and administration expenses decreased to £86,383 (2022: £106,681), and Direct charitable expenditure increased to £65,969 (2022: £46,425), while Fundraising and publicity decreased to £nil (2022: £2,321).

The Board has the following matters to report on for these financial statements:

No funds are held as custodian trustee on behalf of others, and none of the Charity's funds are restricted in their use, other than by legal and constitutional considerations.

Reserves policy

The Charity has no specific reserves policy however it currently maintains a cash reserve of £75,000, generally in line with the Ofqual recommendations in respect of reserves. This cash is held in a separate deposit account.

Page 4

International Federation of Professional Aromatherapists Company limited by guarantee

Directors' and trustees report for the year ended 31 March 2023

.................... continued

Achievements and performance

Over the last year the IFPA board has worked hard to strengthen the organisation by reviewing its policies. By doing this, it keeps the organisation up to date, consistent and effective. The board has updated its Code of Ethics & Conduct together with new Membership Terms & Conditions and Brand Guidelines.

The IFPA board has been conducting an evaluation procedure to ensure that IFPA remains up to date with current legislation and that IFPA continues to offer high standards of education. Part of this procedure has been a review of the aromatherapy syllabus.

Aromatherapy is a rapidly changing modality of holistic healthcare, and the Board felt that the aromatherapy syllabus needed to reflect this.

To help IFPA achieve its ambition of upgrading the syllabus, they contacted Rhiannon Lewis. Rhiannon is a clinical aromatherapy practitioner with more than 30 years of professional experience.

Several workshops with Rhiannon and the IFPA Education Subcommittee were held over an 18-month period in order to create the syllabus. The education subcommittee asked several specially chosen aromatherapy educators to beta test the proposed syllabus and give full and honest feedback. Changes were made based on that feedback.

The board feel that they have produced an excellent syllabus which is representative of the industry today. IFPA accredited schools are now busy preparing to implement the changes. The new syllabus is due to be rolled out in April 2024.

The IFPA continue to welcome on board new accredited schools and members in the UK and abroad.

Page 5

International Federation of Professional Aromatherapists Company limited by guarantee

Directors' and trustees report for the year ended 31 March 2023

Statement of Directors' responsibilities

The trustees (who are also directors of the company for the purposes of company law) are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing those financial statements, the directors are required to:

The directors are responsible for maintaining proper accounting records that 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.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the Board on 25 November 2023 and signed on its behalf by

Christine Courtney

C Courtney Director

Page 6

International Federation of Professional Aromatherapists Company limited by guarantee

Independent examiner's report to the trustees on the unaudited financial statements of International Federation of Professional Aromatherapists.

I report on the financial statements of International Federation of Professional Aromatherapists for the year ended 31 March 2023 which are set out on pages 8 to 14.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors of the company for the purpose of company law) are responsible for the preparation of the accounts, the trustees consider that the audit requirement of section 43(2) of the Charities Act 2011 (the Act) does not apply and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charitable company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Mrs J Carter FCCA Integra Accounting Limited

5 Station Road, Hinckley, Leicestershire, LE10 1AW 25 November 2023

Page 7

International Federation of Professional Aromatherapists Company limited by guarantee

Statement of financial activities

For the year ended 31 March 2023

Unrestricted
Restricted
funds
funds
Notes
£
£
Incoming resources
Membership fees
128,499
-
Administration fees
1,737
-
Schools
13,199
-
Advertising
330
-
Conference income
-
-
Sundry income
11
-
Investment income
7
295
-
Total incoming resources
144,071
-
Resources expended
Direct charitable expenditure
8
65,969
-
Fundraising and publicity
9
-
-
Management and administration
expenses of the charity
10
86,383
-
Total charitable expenditure
152,352
-
Net movement in funds
)
(8,281
-
Reconciliation of funds
Total funds brought forward
269,520
-
Total funds carried forward
261,239
-
2023
Total
£
128,499
1,737
13,199
330
-
11
295
144,071
65,969
-
86,383
152,352
)
(8,281
269,520
261,239
2022
Total
£
124,689
1,867
12,671
516
3,185
-
8
142,936
46,425
2,321
106,681
155,427
)
(12,491
282,011
269,520

The statement of financial activities includes all gains and losses recognised in the period. All incoming resources and resources expended derived from continuing activities.

The notes on pages 11 to 16 form an integral part of these financial statements.

Page 8

International Federation of Professional Aromatherapists Company limited by guarantee

Balance sheet as at 31 March 2023

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Prepayments and accrued income
Creditors: amounts falling
due within one year
13
Net current assets
Total assets less current
liabilities
Accruals and deferred income
Net assets
Reserves
Profit and loss account
14
Members' funds
2023
£
3,242
256,115
259,357
2,831
)
(12,820
£
93,991
249,368
343,359
)
(82,120
261,239
261,239
261,239
2022
£
3,886
253,394
257,280
2,137
)
(7,624
£
97,401
251,793
349,194
)
(79,674
269,520
269,520
269,520

The directors' statements required by Sections 475(2) and (3) are shown on the following page which forms part of this Balance Sheet.

The notes on pages 11 to 16 form an integral part of these financial statements.

Page 9

International Federation of Professional Aromatherapists Company limited by guarantee

Balance sheet (continued)

Directors' statements required by Sections 475(2) and (3) for the year ended 31 March 2023

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors Responsibilities

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The accounts were approved by the board of directors and authorised for issue on 25 November 2023 and are signed on behalf of the board by:

Christine Courtney

C Courtney Director

Registration number 04388652

The company is a private company limited by guarantee, registered in England. The address of the registered office is 82 Ashby Road, Hinckley, Leicestershire, LE10 1SN.

The notes on pages 11 to 16 form an integral part of these financial statements.

Page 10

International Federation of Professional Aromatherapists Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2023

1. General Information

The charity is a company limited by guarantee registered in England. The Trustees are named on the directors' and trustees report. In the event of the charity being wound up, the liability in respect of the guarantee is limited to a maximum of £10 per member of the charity. The address of the registered office is 82 Ashby Road, Hinckley, Leicestershire, LE10 1SN.

2.

Statement of compliance

These have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP 2005) "Accounting and Reporting by Charities" published in March 2005 and in the accordance with FRS102, Section 1A. The directors have taken advantage of the concessions available for smaller charities within SORP 2005 and have chosen to use resource classification appropriate to the charitable company's circumstances and activities.

3. Accounting policies

3.1. Basis of preparation

The have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

3.2. Fund accounting

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

3.3. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. No amounts are included in the financial statements for services donated by volunteers.

Page 11

International Federation of Professional Aromatherapists Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2023

.................... continued

3.4. Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

3.5. Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

3.6. Finance and operating leases

Rentals applicable to operating leases are charged to the statement of financial activities over the period in which the cost is incurred.

3.7. Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

4. Staff costs

The average number of persons employed by the company during the year was 3 (2022: 3). No employees received total benefits of more that £60,000.

5. Directors' remuneration

No directors received any remuneration for their services in the role during the year.

6. Pension costs

The company operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £577 (2022 - £449).

Page 12

International Federation of Professional Aromatherapists Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2023

.................... continued

7. Investment income

7.
Investment income
Unrestricted
Restricted
funds
funds
£
£
Interest from bank accounts
295
-
8.
Direct charitable expenditure
Unrestricted
Restricted
funds
funds
£
£
AGM, meetings and conferences
1,234
-
In Essence production costs
41,055
-
Printing, postage and stationery
2,019
-
Computer costs
21,661
-
65,969
-
9.
Fundraising and publicity
Unrestricted
Restricted
funds
funds
£
£
PR, exhibition and shows
-
-
2023
Total
£
295
2023
Total
£
1,234
41,055
2,019
21,661
65,969
2023
Total
£
-
2022
Total
£
8
2022
Total
£
2,086
35,873
2,286
6,180
46,425
2022
Total
£
2,321

Page 13

International Federation of Professional Aromatherapists Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2023

.................... continued

10. Management and administration expenses of the Charity

Unrestricted
Restricted
funds
funds
£
£
Gross salaries and wages
40,578
-
Pension costs
577
-
Insurance
2,985
-
Light and heat
1,877
-
Hire of equipment
1,692
-
Rates and water
400
-
Repairs and renewals
4,852
-
General expenses
1,070
-
Telephone
912
-
Accountancy
3,100
-
Bookkeeping costs
1,129
-
Professional fees
16,455
-
Trustees expenditure
327
-
Bank charges
7,019
-
Depreciation
3,410
-
86,383
-
2023
Total
£
40,578
577
2,985
1,877
1,692
400
4,852
1,070
912
3,100
1,129
16,455
327
7,019
3,410
86,383
2022
Total
£
38,808
449
2,908
835
1,692
308
4,472
987
881
3,100
1,731
40,495
427
5,948
3,640
106,681

There are no employees receiving a salary in excess of £60,000.

Included within professional fees above is exceptional expenditure incurred during the financial year relating to a legal dispute with a former trustee and several training providers in China. Legal fees in relation to this totalled £3,233 (2022: £20,173). The trustees have taken appropriate legal advice and adopted a strategy to cap any further additional costs

Page 14

International Federation of Professional Aromatherapists Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2023

.................... continued

Property Property Fixtures Fixtures
11. Tangible fixed assets Freehold improve- and Computer
property ments fittings equipment Total
£ £ £ £ £
Cost
At 1 April 2022 and
at 31 March 2023 135,000 2,284 6,916 32,726 176,926
Depreciation
At 1 April 2022 40,500 2,203 6,686 30,136 79,525
Charge for the year 2,700 16 46 648 3,410
At 31 March 2023 43,200 2,219 6,732 30,784 82,935
Net book values
At 31 March 2023 91,800 65 184 1,942 93,991
At 31 March 2022 94,500 81 230 2,590 97,401
12. Debtors 2023 2022
£ £
Trade debtors 2,910 3,247
Other debtors 332 639
3,242 3,886
13. Creditors: amounts falling due 2023 2022
within one year £ £
Trade creditors 7,608 2,516
Other creditors 5,212 5,108
12,820 7,624

Page 15

International Federation of Professional Aromatherapists Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2023

.................... continued

Profit Profit
14. Reserves and loss
account Total
£ £
At 1 April 2022 269,520 269,520
Loss for the year (8,281 ) (8,281 )
At 31 March 2023 261,239 261,239

Page 16

Issuer

Integra Accounting Limited

Document generated Fri, 3rd Nov 2023 9:17:07 UTC

Document fingerprint ddd4fa84a8292c6c4bc84724b651ab98

Parties involved with this document

Document processed

Party + Fingerprint

Mon, 6th Nov 2023 15:10:44 UTC Mon, 6th Nov 2023 15:10:45 UTC Mon, 6th Nov 2023 15:10:45 UTC

Ms Christine Courtney - Signer (7b7126a6bb91ddc75807fb3f019f1a8e) Ms Kerry Payne - Copied In (3791ffb700bba5d911424b4b75fcda08) Catherine Woods - Copied In (89fb5105ea7a2a11ef94bc3ffcc1fd25)

Audit history log

Date

Action

Mon, 6th Nov 2023 15:10:46 UTC Mon, 6th Nov 2023 15:10:45 UTC Mon, 6th Nov 2023 15:10:45 UTC Mon, 6th Nov 2023 15:10:45 UTC Mon, 6th Nov 2023 15:10:45 UTC Mon, 6th Nov 2023 15:10:45 UTC Mon, 6th Nov 2023 15:10:45 UTC Mon, 6th Nov 2023 15:07:11 UTC Fri, 3rd Nov 2023 9:17:18 UTC Fri, 3rd Nov 2023 9:17:09 UTC Fri, 3rd Nov 2023 9:17:09 UTC Fri, 3rd Nov 2023 9:17:09 UTC Fri, 3rd Nov 2023 9:17:09 UTC

Fri, 3rd Nov 2023 9:17:09 UTC Fri, 3rd Nov 2023 9:17:09 UTC

Fri, 3rd Nov 2023 9:17:09 UTC

Ms Christine Courtney viewed the envelope. (1.34.114.3) Document emailed to party email (18.132.206.32) Document emailed to party email (13.40.148.142) This envelope has been signed by all parties (1.34.114.3) Sent the envelope to Catherine Woods for signing (1.34.114.3) Sent the envelope to Ms Kerry Payne for signing (1.34.114.3) Ms Christine Courtney signed the envelope (1.34.114.3) Ms Christine Courtney viewed the envelope. (1.34.114.3) Document emailed to party email (18.130.137.224)

Sent the envelope to Ms Christine Courtney for signing. (18.170.64.228) Catherine Woods has been assigned to this envelope. (18.170.64.228) Ms Kerry Payne has been assigned to this envelope. (18.170.64.228) Ms Christine Courtney has been assigned to this envelope. (18.170.64.228)

Envelope generated. (18.170.64.228) Document generated with fingerprint dbe77120e2c4579e990fdc1638e8a2db. (18.170.64.228) Document generated with fingerprint ddd4fa84a8292c6c4bc84724b651ab98. (18.170.64.228)

Fri, 3rd Nov 2023 9:17:09 UTC Document generated with fingerprint bc321d4a92be6013c8039ee255218c5d. (18.170.64.228) Fri, 3rd Nov 2023 9:17:07 UTC Envelope generated with fingerprint 0da1d6ff0490800ac41aaf7831b9777c (35.176.231.177)