**REGISTERED COMPANY NUMBER: 05466148 (England and Wales) REGISTERED CHARITY NUMBER: 1111469**
## **REPORT OF THE TRUSTEES AND**
**AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FOR**
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES**
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 11|
|**Report of the Independent Auditors**|12 to 15|
|**Statement of Financial Activities**|16|
|**Balance Sheet**|17|
|**Cash Flow Statement**|18|
|**Notes to the Cash Flow Statement**|19|
|**Notes to the Financial Statements**|20 to 32|
|**Detailed Statement of Financial Activities**|33 to 35|
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives and aims of the charity are to encourage the world-wide advancement of dermatological education, care and sciences by:
- improving the knowledge, skill and practice of those professionals practising dermatology and other professionals engaged in research into, and teaching about, diseases affecting the skin;
- improving the care of those suffering from skin diseases and promoting good skin health by protecting and preserving health and relieving those in need in such ways and in such parts of the world as the trustees see fit; and
- by publicising advances in dermatological sciences with the aim of stimulating, promoting further research into the same and supporting such research
The trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities**
The International League of Dermatological Societies (ILDS) is a non-governmental organisation which was formed to: - stimulate the co-operation of societies of dermatology and societies interested in all fields of cutaneous medicine and biology through the world
- encourage the worldwide advancement of dermatological education, care and sciences
- promote personal and professional relations among the dermatologists of the world
- represent dermatology in commissions and international health organisations
- organise a World Congress of dermatology every four (4) years
**The vision of the ILDS** is to attain the best possible skin health for all people around the world.
**The mission of the ILDS** is to increase awareness, cooperation and communication within the global dermatology community to promote high quality education, clinical care, research and innovation that will improve skin health globally.
## **The ILDS' Core Values are:**
- Collaboration - to work with integrity in accountable partnerships with ILDS Members and other stakeholders
- Impact - to maximise our impact by measuring and evaluating progress towards our strategic objectives
- Communication - to raise awareness and communicate effectively globally
- Evidence - to ensure that our work reflects the best knowledge, practices and evidence
- Leadership - to identify priorities and commit resources based on realistic assessments of our capabilities
## **The World Congress of Dermatology**
The World Congress of Dermatology, held under the auspices of the ILDS, occurs every four years. The 25th World Congress of Dermatology took place in Singapore, in July 2023. It was successful in attracting over 12,000 delegates (exceeding the target of 8,000 delegates) from 150 countries. The location of the 26th World Congress of Dermatology, to be held in June 2027 was determined by ILDS member societies to be in Guadalajara, Mexico.
## **International Foundation for Dermatology (IFD)**
The IFD is a Standing Committee of the ILDS. It was created in 1987 to conduct the humanitarian work of the ILDS.
The vision of the IFD is that skin health services in low resource areas are available, accessible and effective for all patients, regardless of ethnicity, disability or social background.
The mission of the IFD is that drawing on the expertise of ILDS Members, partners and networks, the IFD aims to improve skin health and reduce skin health inequalities in low resource areas through dermatological education and training, global health partnerships and the influencing of policy.
The IFD provides support for dermatological care in low resource areas. In order to achieve this, it works to build capacity in under-served areas of the world providing both long-term support and one-time grants.
The IFD's flagship project is the Regional Dermatological Training Centre (RDTC) in Moshi, Tanzania. The RDTC was founded in 1990 as a joint enterprise between the ILDS, the Tanzanian Ministry of Health and Kilimanjaro Christian Medical Centre (KCMC) on land provided by the Good Samaritan Foundation. Funds provided by the IFD help support key personnel positions and the IFD also provides scholarships for students attending the courses from a number of African countries. The IFD provides an annual contribution to the Continuing Medical Education (CME) meeting for past and present students and supports other projects.
The IFD has also funded other training and educational research initiatives. An ongoing initiative is to provide an educational publication, the Community Skin Health Journal (formerly the Community Dermatology Journal), for front line health workers.
The IFD administers grant programmes such as ILDS DermLink. This awards grants to assist dermatology in low resource regions of the world through the purchase of dermatological materials and equipment, undertaking of dermatological training and/or the undertaking of a field or community project. The IFD also supports and facilitates networks and partnerships which further global health dermatology.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **OBJECTIVES AND ACTIVITIES**
## **Grantmaking**
All IFD grants (including ILDS DermLink) are reviewed by the ILDS IFD Committee. The ILDS IFD Committee comprises the Chair of the IFD, the past Chair of the IFD and members of the ILDS Board. The President and SecretaryGeneral of the ILDS are ex-officio members. The committee decides the eligibility for applications and recommends these for approval by the ILDS board. An ILDS DermLink grant is a sum of money up to US$5,000, disbursed on the recommendation of the committee in response to applications received. The criteria for an ILDS DermLink grant and other ILDS IFD grants are reviewed on a regular basis and are determined by the funds available for this purpose.
## **Volunteers**
All trustees are volunteers in that they receive no remuneration for their time and their expertise.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
During 2023 a diverse range of charitable activities were undertaken in order to progress ILDS' work towards its objectives and annual targets were met and/or exceeded. One of the main charitable objectives was the continued support and funding of staff and students at the Regional Dermatology Training Centre (RDTC) in Tanzania in order to improve dermatological care in African countries.
Scholarships were awarded to eighteen students on the two-year Advanced Diploma in DermatoVenereology (ADDV) and to six MMed Residents to complete dermatology training over four years and enable them to join the permanent faculty of the RDTC.
Our work through the Neglected Tropical Diseases NGO Network (NNN) Skin NTD Cross-Cutting Group and International Alliance for Global Health Dermatology (GLODERM) continues to grow. GLODERM has expanded and formed a Trainee Committee to improve access to dermatological education for trainees around the world. The mentor mentee programme launched in 2021 bringing together seven Mentor-Mentee Pairs from all over the world to share knowledge and grow the skills needed for Mentees to become leaders.In 2023 this has expanded to ten Mentor-Mentee Pairs.
During 2023, the ILDS in-country grant programmes fulfilled its objective to support common neglected tropical skin diseases raised awareness about the invisible human burden of skin diseases. In-country support enables partners to attend and participate in the World Congress of Dermatology. This opportunity enabled them to promote their projects, expand their knowledge and broaden their networks.
The Community Skin Health journal (formerly the Community Dermatology Journal) is the official journal of the IFD; it is an accessible and useful resource for healthcare workers (non dermatologists). In 2023, the IFD published two issues and distributed over 21,000 copies globally to front-line health workers in 180 countries around the world. The journal is available electronically online and via an App in five languages: English, French, Spanish, Portuguese and Simplified Chinese. It continues to provide up to date high quality educational and training material to front line healthcare workers in low resource regions.
The ILDS continues to collaborate with the World Health Organization (WHO), with whom it is in official relations, in order to bring technical **dermatological** expertise to global health policy work and to support capacity building initiatives to improve skin health service provision for low resource settings. The ILDS is actively working with the WHO on global skin health issues in order to address the sustainable development goals across multiple topic areas. During the World Health Organization's 150 Executive Board meeting held in January 2023, the ILDS's status as having official relations with the WHO was renewed. ILDS will continue to work in an official capacity in four areas: International Classification of Diseases 11th revision, Essential Medicines, Neglected Tropical Diseases and Occupational Health. We will also work in an unofficial capacity with Non- communicable Diseases, Ageing and Life Course and COVID-19.
World Skin Health Day, a joint initiative with the International Society for Dermatology, aims to recognise and promote skin health around the world. In 2023, the World Skin Health Day launched its pledge date 8 July.
In 2023 the Global Psoriasis Atlas (GPA) Phase 3 (2020 to 2023) research activities continued. The website serves as a transformational educational and scientific tool with the most comprehensive database of the incidence and prevalence of psoriasis which is openly available. It also presents the human face of psoriasis, sharing first-hand patient experiences. Phase 3 addresses existing knowledge gaps on epidemiology, improving diagnosis and comorbid disease, with a particular focus on cancer incidence and mortality; and the economic impact of psoriasis. The GPA will continue to build a global picture through regional coordinators providing data on current treatment practices in their countries and regions.
ILDS undertook a number of activities to support the dermatological community specifically with respect to supporting work on new atlases aimed at mapping dermatological conditions, such as Atopic Dermatitis, Hidradenitis Suppurativa and Vitiligo.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **World Congress of Dermatology 2023**
In 2023, the 25th World Congress of Dermatology was held in Singapore. The aim of the Congress is to bring together expert current scientific knowledge and expertise on a broad range of dermatological topics relevant to improving skin health around the world. The programme development started in 2020 with a large consultation with global ILDS Members to determine important issues to be addressed and to identify experts from around the world. The WCD Scientific Programme Committee met regularly to discuss the progress and design of the programme.
## **Governance and operations**
During 2023, the ILDS continued with the implementation of developments in its governance and operations so that it can consolidate its work and build a solid foundation for future growth. The ILDS strategy for the period 2020-2023 includes plans to start new projects and programmes of work and to scale up existing activities in order to utilise its increased reserves on charitable activities for its beneficiaries over the next four year cycle. The strategic goal is to strengthen and improve access to skin health around the world through partnerships. The IFD also developed a new strategy which is complementary to that of the ILDS. The ILDS Committees which direct and oversee the ILDS' work are: Executive; International Foundation for Dermatology; Finance and Fundraising; WCD Scientific Programme, World Health Organization; Awards; Membership; Communications, Grand Challenges for Global Skin Health and the 4th World Skin Summit Programme. A number of working groups are also active: Patients' Organisations Working Group; World Skin Health Day Working Group; WCD Contracts and Finance Oversight Working Group and WCD Guidelines Development and Bids Review Working Group. The ILDS membership continues to grow with the total number of ILDS Members currently standing at 210 from 103 countries. ILDS continues to review and develop its operations including its staffing and infrastructure at its secretariat in London, UK and, at the end of 2023, had 7 full-time and 1 part-time employees.
## **Fundraising activities**
ILDS fundraises to support its activities following a fundraising strategy and plan approved by the ILDS Board of Directors. Donations and grants are sought from ILDS Members and other bodies.
In 2023, the IFD received donations from ILDS Member organisations of $134,850 (2022 - $55,000) to help fund its charitable activities at the Regional Dermatology Training Centre (RDTC) in Moshi, Tanzania.
The IFD (Moshi RDTC) Endowment fund stood at $1,115,025 at the end of 2023 (2022 - $1,074,503) and was of the required value to enable 95% of its investment income (less amount retained to cover reductions in the underlying value of investments) to be used to fund the RDTC in Moshi. This amounted to a net transfer from the Endowment of $24,498 (2022 - $Nil). The IFD also received donations to support its core activities including specific donations for the Community Skin Health Journal. The ILDS received grants and sponsorship for the Global Psoriasis Atlas inline with its role as fiscal custodian.
## **Investment performance**
The trustees are satisfied with investment performance which outperformed other investment industry benchmarks. Taking into account amounts transferred into the investment, investment income earned and movements in value of assets held within the portfolio net of fund management charges the overall net value of the portfolio increased by $1,005,684. ILDS through careful fiscal planning has not drawn down on any of the investment income earned.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The charity's principal funding comes from the World Congress of Dermatology which is held once every 4 years. The charity also receives income from the ILDS Members annual subscription fees, donations from member societies and other bodies involved in dermatology.
## **Investment policy and objectives**
ILDS holds some of its reserves in investment accounts with Brown Advisory and Cazenove Capital. The Trustees continue to review the ILDS investments and take advice in order to develop its Investment Policy.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FINANCIAL REVIEW**
## **Reserves policy**
Reserves are required to enable continued funding of the charitable activities and to bridge the gap between income being received and the required charitable expenditure. They are also held so that funds are available immediately if a suitable request for funding is received.
The level of unrestricted reserves held by the charity at the year end amounted to $15,062,977 of which $15,015,296 was freely available at the balance sheet date.
The charity's ability to fund ongoing activities is highly dependent upon the income it receives from the World Congress of Dermatology which is held every 4 years. In June 2013 the Trustees reviewed the reserves policy and concluded that the level of reserves immediately prior to a World Congress should equate to $2m (approximately 4 years expenditure net of subscription income). This would ensure the charity was able to continue to fund its activities should unforeseen political or climatic events severely impact the level of income generated by the event. A decision was taken to work towards meeting this target by the 2015 World Congress. This target was met. The reserves policy is kept under review and it remains the Board's opinion that, in order to enable the ILDS to continue if the worst-case scenario (of a World Congress of Dermatology not securing any income for the ILDS), the ILDS should ensure that it has the funds to be able to operate for eight years. Current annual costs are in excess of $1.5 million meaning that at least $12 million would be required for eight years of reserves. The need to ensure that the ILDS is sustainable should a World Congress of Dermatology not take place or the level of income from the Congress be significantly reduced is particularly pertinent given the COVID-19 outbreak which, if it had taken place in 2020, would have resulted in ILDS needing to rely on its reserves and having to scale back its activities in the next four year cycle. The ILDS plans to scale up its charitable activities in a sustainable way during the four year cycle (2023 - 2026) utilising the reserves with activities being increased over the four years.
Following the appointment of Financial Advisor, JTFM, in July 2020 to oversee the tender for Investment Management Services, ILDS appointed Brown Advisory and Cazenove Capital as the two investment management companies. Each company manages $7million and the portfolios have been repositioned according to agreed strategy. The Investment Fund Management companies reports are presented annually to the ILDS Board.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FUTURE PLANS**
## **Governance and Operations Developments**
ILDS continues to implement developments in its governance and operations including development of policies and procedures. A governance review of ILDS Bylaws was completed and was presented to Members in 2023.
## **International Foundation for Dermatology (IFD)**
The IFD, in line with its strategic plan (2020-2023) will continue to support dermatological education and care for those in under-served, such as resource poor, settings including providing substantive support to the Regional Dermatology Training Centre (RDTC) in Moshi through the scholarship programme, support for key personnel positions and support for the Continuing Medical Education event for past and present students.
Current IFD programmes and projects in 2023 include the ILDS Dermlink and Strategic Innovation grants programmes. The Community Skin Health Journal will continue to be delivered in English, French, Spanish, Portuguese and Simplified Chinese with the focus on increasing access to these translations as well as consideration of the possibility of translation into additional languages. IFD involvement with, and support for, projects to further treatment and care in the areas of albinism and scabies will continue. In addition, the IFD will continue its support for networks to support global health dermatology such a the Neglected Tropical Diseases NGO Network (NNN) Skin Cross-Cutting Group and the International Alliance for Global Health Dermatology (GLODERM) through the provision of administrative support and grants for activities.
## **Migrant Health Dermatology Working Group (MHDWG)**
From 25 May to 2 June 2023, the IFD MHDWG led a medical mission in Lebanon, focusing on skin and sexual health. They trained 150 healthcare professionals and treated 417 patients, highlighting the need for improved reproductive healthcare and support for women and children impacted by violence. On 26 October 2023, the ILDS Migrant Health Symposium in Valletta, Malta, brought together 105 experts to tackle migrant health issues. The symposium addressed teledermatology and conflict-related sexual violence and promoted equitable care, underscoring the need for comprehensive health support for displaced populations.
## **International Alliance for the Control of Scabies (IACS)**
Supported by the International Foundation for Dermatology, the International Alliance for the Control of Scabies held a strategic meeting in Singapore, awarded a grant for scabies research in India, and advanced global health through scientific webinars.
## **NNN Skin Cross-Cutting Group (NNSCCG)**
The ILDS Skin- NTD Summit, hosted in collaboration with the World Health Organization on 20 September 2023 in Da es Salaam, Tanzania, aimed to build on the Geneva Meeting's outcomes and provide a forum for WHO Skin NTD Working Groups. Over 100 global participants attended in person and virtually. Key presentations covered the WHO's NTD Road Map 2021-30, the establishment of 12 Skin-NTD Working Groups, innovative WHO training efforts, and operational research progress.
## **Global Health Policy**
ILDS Global Health Policy outlines its approach to policy development, its priorities, and planned activities. As part of this, ILDS built on its work with the World Health Organisation (WHO). The WHO Neglected Tropical diseases (NTD) department has adopted the ILDS/IFD proposals of integrated approaches around skin NTDs. A shift in the WHO NTD Road Map includes skin integration and the commissioning of a strategic framework for integrated control of SkinNeglected Tropical Diseases. COVID and Monkey Pox registries are also recognised and utilised by the WHO.
## **World Skin Health Day**
World Skin Health Day is a joint project of the ILDS and the International Society of Dermatology (ISD) with the aim of recognising and promoting skin health around the world. In 2023, the 10th anniversary of World Skin Health Day was celebrated with a new campaign logo. website and brand identity. Activities in various countries reached over 8 million people, improving access to dermatological care and raising awareness.
## **Global Psoriasis Atlas**
Following the successful completion of the milestones for phase one of the Global Psoriasis Atlas, a second phase with another three-year duration started in April 2023. This phase includes continued collection of data for a second edition of the Atlas in order to increase understanding of the global burden of psoriasis including resources in other languages. The second phase will also include a focus on new areas such as on the economic impact of psoriasis and the validation of clinical diagnostic criteria.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Global Health Partnerships**
Recognising the part that partnerships can play in increasing the standard of dermatological education and care worldwide, the ILDS launched a new programme in 2023, entitled Global Partnerships for Education and Care, to facilitate and support capacity building and educational partnerships between individuals in dermatological departments in different parts of the world.
## **World Congress of Dermatology 2023**
The 25th World Congress of Dermatology held in Singapore in July 2023 was a great success. The aim of the congress is to bring together expert current scientific knowledge and expertise on a broad range of dermatological topics relevant to improving skin health around the world.
## **COVID-19**
In 2023, the ILDS continued to provide support and guidance with respect to dermatology and COVID-19 including updating its guidance and continuing support for dermatology COVID-19 and Monkey Pox (mpox) registries.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The governing document is the Memorandum and Articles of Association.
## **Recruitment and appointment of new trustees**
As set out in the Articles of Association, vacancies on the Board of the International League of Dermatological Societies (ILDS) were filled at the time of an Ordinary General Meeting and were filled by those elected by a secret ballot of the delegates in July 2023. Each member society and affiliated member society is requested to propose two individuals from two different countries for each International director vacancy and two persons from a region where a Regional director vacancy exists, unless there are only two countries in the region concerned, at least one comes from a country other than that of the member concerned.
When considering the appointment of directors, the Board requests that factors to be considered include the individual's international activities, reputation and experience and request that nominees be judged on international rather than a national basis, considering international reputation, personal experience in congress matters and scientific achievement. Candidates must also be able to understand and speak English, as the language of all board meetings are in English.
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisational structure**
The board of trustees, which can have up to 20 members, administers the charity. The board meets annually and there are the following standing committees which meet regularly to oversee and take the ILDS' work forward: Awards, Communications, Executive, Finance and Fundraising, International Foundation for Dermatology, Membership, World Congress Scientific Programme, World Health Organization. A trustee chairs each such standing committee and the President is a member ex officio. All standing committee members are appointed by, and can be removed by, the trustees.
ILDS prioritises working in partnerships, where possible, to achieve its goals and undertakes joint ventures with member societies and other organisations where appropriate in the pursuit of ILDS' charitable objectives. The ILDS works with its ILDS members to define and address global dermatology needs. The ILDS has official relations status with the World Health Organization (WHO) based on a three-year collaboration plan. ILDS works in collaboration with the International Federation of Psoriasis Associations (IFPA) and the International Psoriasis Council (IPC) to develop the Global Psoriasis Atlas. The three collaborating organisations are responsible for the governance of the project with ILDS acting as fiscal custodian. The collaborators have appointed an academic institution (Manchester University) to develop the Atlas. The IFD provides grants to support partners and is providing the secretariat for a number of networks working to address global health dermatology needs.
A Chief Executive Officer (CEO) has been appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the CEO has delegated authority, within the terms of delegation approved by the trustees, for operational matters. The ILDS follows its Remuneration and Benefits Policy in setting the salary and remuneration of all ILDS employees including the CEO. This covers base salary, annual leave, pension, sick pay and training. The ILDS operates a salary banding scheme which is linked to the job grade. The salary bandings are reviewed annually to ensure that they remain competitive with market rates of pay and inflation. ILDS conducts an annual performance review which is linked to the Annual Appraisal procedure. The pay review is determined following the employee's annual performance review. The CEO undertakes the Annual Appraisals and awards an annual cost of living award. For the review of the CEO, the President takes the lead in the review and makes a recommendation to the Board for approval.
## **Induction and training of new trustees**
All new trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the business plan and recent financial performance of the charity.
## **Related parties**
The trustees of the charity are all members of member societies.
## **Risk management**
The Trustees have a duty to identify and review the risks to which the Charity is exposed and take steps to put in place appropriate controls to provide reasonable assurance against fraud and error. One of the main risks the Charity faces is the risk to the funding of the Charity should the World Congress of Dermatology (WCD) not be successful as the majority of ILDS' funds during a four year cycle are currently received from the WCD. Steps have been taken to mitigate this risk by maintaining at least eight years of reserves to protect the ILDS should a WCD not bring in expected income and by developing a Fundraising and Revenue Development Strategy to diversify the funding of the ILDS. The ILDS follows a procedure for developing and monitoring policies and procedures to protect against fraud and error including a range of finance policies, procedures and controls, along with policies for procurement, anti-bribery and grant giving amongst others. The risks and risk mitigation options associated with projects are considered and monitored on a project basis. The Executive Committee takes an active role in oversight of the ILDS' activities with regular meetings and communications between meetings.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
05466148 (England and Wales)
## **Registered Charity number**
1111469
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
**Registered office** Willan House 4 Fitzroy Square London W1T 5HQ
## **Trustees**
Dr M I Arellano-Menoza Dr R Bhat (resigned 6.7.23) Dr L Borradori Dr R Chan Dr J H Chung Dr N Dlova (appointed 6.7.23) Dr B Dreno (resigned 6.7.23) Dr L French Dr C Fuller Dr M Fujimoto (appointed 6.7.23) Dr H Galadari (resigned 6.7.23) Dr G Hruza (appointed 6.7.23) Dr K Kabashima (resigned 6.7.23) Dr M M Larralde (resigned 6.7.23) Dr H W Lim Dr H Lui (resigned 6.7.23) Dr O Lupi (resigned 6.7.23) Dr V N Mysore Dr J Ocampo Candiani (appointed 6.7.23) Dr G Pellacani (resigned 6.7.23) Dr K Peris (appointed 6.7.23) Dr M Rocken Dr R Romiti (appointed 6.7.23) Dr L Rudnicka (appointed 6.7.23) Dr R Sarkar (appointed 6.7.23) Dr S P Shumack Dr D Siegel (resigned 6.7.23) Dr A Torrelo (appointed 6.7.23)
## **Auditors**
Beacons Chartered Accountants Registered Auditor 30 High Street Wendover Buckinghamshire HP22 6EA
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of The International League of Dermatologic for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the 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 trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are 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 auditors are aware of that information.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 1[st] July 2024 and signed on its behalf by:
Dr H W Lim - Trustee
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**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **Opinion**
We have audited the financial statements of The International League of Dermatologic (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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.
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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 12
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where 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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 13
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **Our 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 a Report of the Independent Auditors 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
## Irregularities - ability to detect
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and Charity sector experience, through discussion with the Trustees and management (as required by auditing standards), and from inspection of the charitable company's legal and regulatory correspondence and discussed with the Trustees and management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit.
The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, taxation legislation and pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
Secondly, the charitable company is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: anti-money laundering, employment, health and safety, and regulations surrounding the charity sector. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and management and inspection of regulatory and legal correspondence, if any. Our enquiries were corroborated by review of Board minutes. No contradictory evidence was identified.
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 Report of the Independent Auditors.
Page 14
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Anthony Parks ACA (Senior Statutory Auditor) for and on behalf of Beacons Chartered Accountants Registered Auditor 30 High Street Wendover Buckinghamshire HP22 6EA
Date: 1 July 2024
Page 15
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023**
|Unrestricted
**INCOME AND**
Notes
fund
$ **ENDOWMENTS FROM**
Donations and legacies
3
280,812
**Charitable activities**
6
World Congress of Dermatology
3,659,927
Other trading activities
4
-
Investment income
5
269,960
**Total**
4,210,699
**EXPENDITURE ON**
Raising funds
7
63,097
**Charitable activities**
8
Support the operational costs of
the RDTC in Moshi
15,001
IFD general activities
117,320
Student sponsorship
-
ILDS activities
1,027,954
Community Skin Health Journal
129,126
Global Psoriasis Atlas
122,458
World Congress of Dermatology
92,263
WHO activities
55,362
World Skin Health Day
16,177
Patient organisations
57
**Total**
1,638,815
Net gains/(losses) on
investments
722,349
**NET**
**INCOME/(EXPENDITURE)**
3,294,233
**Transfers between funds**
19
(153,530)
**Net movement in funds**
3,140,703
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
11,922,275
**TOTAL FUNDS CARRIED**
**FORWARD**
15,062,978|Restricted
funds
$ 475,703
-
-
-
475,703
-
117,336
449,480
124,825
-
5,617
139,217
-
-
-
-
836,475
-
(360,772)
178,028
(182,744)
383,482
200,738|Endowment
fund
$ -
-
-
25,788
25,788
1,619
-
-
-
-
-
-
-
-
-
-
1,619
40,851
65,020
(24,498)
40,522
1,074,503
1,115,025|31.12.23
Total
funds
$ 756,515
3,659,927
-
295,748
4,712,190
64,716
132,337
566,800
124,825
1,027,954
134,743
261,675
92,263
55,362
16,177
57
2,476,909
763,200
2,998,481
-
2,998,481
13,380,260
16,378,741|31.12.22
Total
funds
$ 875,195
828,286
14,991
206,402
1,924,874
163,075
244,544
282,415
112,200
1,202,542
172,910
97,647
90,912
99,162
-
-
2,465,407
(1,869,772)
(2,410,305)
-
(2,410,305)
15,790,565
13,380,260|
|---|---|---|---|---|
||||||
Page 16
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **BALANCE SHEET 31 DECEMBER 2023**
|**FIXED ASSETS**
Notes
Tangible assets
15
Investments
16
**CURRENT ASSETS**
Debtors
17
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one
year
18
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
19
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|**FIXED ASSETS**
Notes
Tangible assets
15
Investments
16
**CURRENT ASSETS**
Debtors
17
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one
year
18
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
19
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
fund
$ 47,681
12,635,174
12,682,855
135,505
2,920,409
3,055,914
(675,792)
2,380,122
15,062,977
15,062,977|
Restricted
funds
$ -
-
-
-
200,739
200,739
-
200,739
200,739
200,739|Endowment
fund
$ -
710,550
710,550
-
404,475
404,475
-
404,475
1,115,025
1,115,025|31.12.23
Total
funds
$ 47,681
13,345,724
13,393,405
135,505
3,525,623
3,661,128
(675,792)
2,985,336
16,378,741
16,378,741
15,062,977
200,739
1,115,025
16,378,741|31.12.22
Total
funds
$ 64,334
12,340,040
12,404,374
14,225
1,380,038
1,394,263
(418,377)
975,886
13,380,260
13,380,260
11,922,275
383,482
1,074,503
13,380,260|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
||||||||
||||||||
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 1[st] July 2024 and were signed on its behalf by:
S P Shumack - Trustee
Page 17
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Net cash provided by/(used in) investing activities
**Cash flows from financing activities**
Income attributable to endowment
Expenditure attributable to endowment
Net cash provided by financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.12.23
$ 2,068,152
2,068,152
-
(3,852,203)
3,609,719
295,748
53,264
25,788
(1,619)
24,169
2,145,585
1,380,038
3,525,623|31.12.22
$ (344,235)
(344,235)
(63,005)
(4,033,439)
2,209,636
206,402
(1,680,406)
3,777
(2,255)
1,522
(2,023,119)
3,403,157
1,380,038|
|---|---|---|
Page 18
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
(Gain)/losses on investments
Interest received
Income attributable to endowment
Expenditure attributable to endowment
(Increase)/decrease in debtors
Increase in creditors
**Net cash provided by/(used in) operations**|31.12.23
$ 2,998,481
16,653
(763,200)
(295,748)
(25,788)
1,619
(121,280)
257,415
2,068,152|31.12.22
$ (2,410,305)
5,494
1,869,772
(206,402)
(3,777)
2,255
18,910
379,818
(344,235)|
|---|---|---|
**2. ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank and in hand
**Total**|At 1.1.23
$ 1,380,038
1,380,038
1,380,038|Cash flow
$ 2,145,585
2,145,585
2,145,585|At 31.12.23
$ 3,525,623
3,525,623
3,525,623|
|---|---|---|---|
Page 19
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. CHARITY INFORMATION**
The International League of Dermatological Societies is a private company limited by guarantee incorporated in England and Wales. The registered office is Willan House, 4 Fitzroy Square, London, W1T 5HQ.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The accounts are prepared in US dollars, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest $.
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees' continue to adopt the going concern basis of accounting in preparation of the accounts.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations are recognised when received and will only be deferred if the donor has specified the donation must only be spent in future accounting periods or if certain conditions must be met before the charity has unconditional entitlement.
Subscription income is recognised in the year to which the subscription relates.
5% of the income generated from the endowment fund must be reinvested and the remaining income can only be used to provide support to the Regional Dermatological Training Centre in Moshi, Tanzania.
Income from grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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 resources.
Costs of generating voluntary income are those incurred in seeking voluntary income. They include an element of head office costs allocated on the basis of the time spent by the executive officer.
Charitable activities include expenditure supporting the RDTC in Moshi, student sponsorship, student support and include an element of head office costs allocated on the basis of the time spent by the executive officer.
Governance costs are those incurred in meeting the charity's constitutional and statutory requirements. They include the audit fees and other costs linked to the strategic management of the charity.
continued...
Page 20
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. ACCOUNTING POLICIES - continued**
## **Expenditure**
All other expenditure has been allocated to the headings in the SOFA on the basis of the time spent by the executive officer.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance Office equipment - 25% on reducing balance
Minor additions costing less than $300 are not capitalised.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds 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 raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into US dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Cash and cash equivalents include cash in hand and deposits held at call with banks.
## **Financial instruments**
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
## Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
continued...
Page 21
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. ACCOUNTING POLICIES - continued**
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable in one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
## **Investments**
Investment assets held with the intention of retaining them long-term for the continuing benefit of the charity in the form of income and capital appreciation are classified as fixed assets except where the intention is to realise the asset without reinvestment of the sale proceeds. In such cases investments are classified as current assets.
Investment assets are shown in the balance sheet at quoted market price. Changes in value in the year, whether or not realised, are reported as gains and losses on investment assets in the Statement of Financial Activities.
## **Critical accounting estimates and judgements**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. No judgements made by the trustees have had a significant effect on the amounts recognised in the financial statements.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no key assumptions or sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
## **3. DONATIONS AND LEGACIES**
|Donations
Subscriptions|31.12.23
$ 578,839
177,676
756,515|31.12.22
$ 746,298
128,897|
|---|---|---|
|||
875,195|
continued...
Page 22
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**4.**
**OTHER TRADING ACTIVITIES**
World congress bidding fees
**5.**
**INVESTMENT INCOME**
Portfolio income
**6.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
WCD 2023
World Congress of Dermatology
**7.**
**RAISING FUNDS**
**Raising donations and legacies**
Support costs
An analysis of support costs is provided in note 8.
**Investment management costs**
Portfolio management
Aggregate amounts
**8.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs
$ Support the operational costs of the
RDTC in Moshi
67,193
IFD general activities
295,810
Student sponsorship
124,825
ILDS activities
49,562
Community Skin Health Journal
96,733
Global Psoriasis Atlas
139,217
World Congress of Dermatology
27,457
WHO activities
10,396
World Skin Health Day
15,405
Patient organisations
57
826,655|Grant
funding of
activities
(see note
9)
$ 9,165
120,436
-
84,197
-
25,000
-
-
-
-
238,798|31.12.23
$ -
31.12.23
$ 295,748
31.12.23
$ 3,659,927
31.12.23
$ 10,708
31.12.23
$ 54,008
64,716
Support
costs (see
note 10)
$ 55,979
150,554
-
894,195
38,010
97,458
64,806
44,966
772
-
1,346,740||
|---|---|---|---|
||||2,412,193|
continued...
Page 23
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **9. GRANTS PAYABLE**
Included in directs costs were the following grants made to institutions:
|Sjaellands University Hospital
Charite University - Berlin
International Alliance Control of Scabies
Massachusetts General Hospital
Bangladesh Strategic Innovation
Kilimanjaro Christian Medical Centre
Dermlink|$40,000
$17,882
$20,000
$75,000
$13,000
$ 9,165
$63,750
$238,797|
|---|---|
## **10. SUPPORT COSTS**
|Raising donations and
legacies
Support the operational
costs of the RDTC in Moshi
IFD general activities
ILDS activities
Community Skin Health
Journal
Global Psoriasis Atlas
World Congress of
Dermatology
WHO activities
World Skin Health Day|Management
$ 5,349
52,488
146,302
578,010
35,121
66,963
59,263
42,793
522
986,811|Finance
$ 3,731
1,965
2,726
1,983
1,766
2,350
2,268
1,850
-
18,639|Human
resources
$ 175
73
73
673
73
73
175
73
-
1,388|Governance
costs
$ 1,453
1,453
1,453
313,529
1,050
28,072
3,100
250
250
350,610|Totals
$ 10,708
55,979
150,554
894,195
38,010
97,458
64,806
44,966
772
1,357,448|
|---|---|---|---|---|---|
Support costs, included in the above, are as follows:
|Administration salaries
Social security
Pensions
Office rent and related costs
Recruitment fees
Meetings and travel
Website
Postage and stationery
Branding
Sundries
Carried forward|Raising
donations
and
legacies
$ -
-
-
3,190
-
-
-
-
-
-
3,190|Support
the
operational
costs of
the RDTC
in Moshi
$ 6,017
654
195
1,579
-
40,959
-
-
-
-
49,404|IFD
general
activities
$ 111,979
12,216
3,391
6,441
-
-
-
-
-
-
134,027|
|---|---|---|---|
continued...
Page 24
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. SUPPORT COSTS - continued**
|Brought forward
Legal, professional and accountancy
Training
President support costs
Bank charges
Foreign exchange variance
Depreciation of tangible fixed assets
HR support
Auditors' remuneration
Legal fees
Training and resources
Board meeting costs
Administration salaries
Social security
Pensions
Office rent and related costs
Recruitment fees
Meetings and travel
Website
Postage and stationery
Branding
Sundries
Legal, professional and accountancy
Training
President support costs
Bank charges
Foreign exchange variance
Depreciation of tangible fixed assets
HR support
Auditors' remuneration
Legal fees
Training and resources
Board meeting costs|ILDS
activities
$ 285,322
29,026
12,956
8,641
1,839
77,213
11,335
285
84,788
11,391
33,007
716
21,491
346
(477)
2,114
673
1,596
84,911
-
227,022
894,195|Raising
donations
and
legacies
$ 3,190
2,159
-
-
281
-
3,450
175
1,453
-
-
-
10,708
Community
Skin
Health
Journal
$ 28,297
3,049
528
780
-
-
-
-
-
-
2,467
-
-
269
-
1,497
73
1,050
-
-
-
38,010|Support
the
operational
costs of
the RDTC
in Moshi
$ 49,404
3,084
-
-
300
-
1,665
73
1,453
-
-
-
55,979
Global
Psoriasis
Atlas
$ 35,763
4,256
-
3,038
-
17,738
-
-
-
-
6,168
-
-
269
-
2,081
73
1,020
27,052
-
-
97,458|IFD
general
activities
$ 134,027
12,275
-
-
460
-
2,266
73
1,453
-
-
-
150,554
World
Congress
of
Dermatology
$ 46,865
5,002
989
4,557
-
-
-
-
-
-
1,850
-
-
269
-
1,999
175
3,100
-
-
-
64,806|
|---|---|---|---|---|
continued...
Page 25
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. SUPPORT COSTS - continued**
|Administration salaries
Social security
Pensions
Office rent and related costs
Recruitment fees
Meetings and travel
Website
Postage and stationery
Branding
Sundries
Legal, professional and accountancy
Training
President support costs
Bank charges
Foreign exchange variance
Depreciation of tangible fixed assets
HR support
Auditors' remuneration
Legal fees
Training and resources
Board meeting costs|WHO
activities
$ 35,518
4,029
933
2,005
-
-
-
-
-
-
308
-
-
269
-
1,581
73
250
-
-
-
44,966|World
Skin
Health
Day
$ -
-
-
152
-
-
-
-
-
-
370
-
-
-
-
-
-
250
-
-
-
772|31.12.23
Total
activities
$ 549,761
58,232
18,992
30,383
1,839
135,910
11,335
285
84,788
11,391
61,688
716
21,491
2,463
(477)
16,653
1,388
11,625
111,963
-
227,022
1,357,448|31.12.22
Total
activities
$ 462,499
40,240
11,387
22,827
25,606
69,797
43,896
690
81,123
1,427
40,410
15,866
28,829
3,261
152,897
5,494
19,004
9,590
71,445
11,509
160,938
1,278,735|
|---|---|---|---|---|
## **11. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.12.23|31.12.22|
|---|---|---|
||$|$|
|Auditors' remuneration|11,625|9,590|
|Depreciation - owned assets|16,653|5,494|
## **12. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
continued...
Page 26
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **12. TRUSTEES' REMUNERATION AND BENEFITS - continued**
## **Trustees' expenses**
Travel costs amounting to $63,718 (2022 - $81,544) were reimbursed to, or paid on behalf of 17 of the trustees (2022 - 13).
## **13. STAFF COSTS**
Staff costs for the year were $626,985 (2022 - $514,126), in respect of nine members of administration staff based in the UK and these are analysed as follows:
|Agency and subcontract staff
Wages and salaries
Social security costs
Employer contributions to defined contribution pension schemes|2023
$ 13,018
536,743
58,232
18,992
626,985|2022
$ 51,430
411,069
40,240
11,387
514,126|
|---|---|---|
During the year one member of staff received emoluments of between £80,001 and £90,000 (2022 - £70,001 - £80,000 - one). The emoluments relate to UK staff and are therefore disclosed in sterling.
## **14.**
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
Endowment
fund
funds
fund
$ $ $ **INCOME AND ENDOWMENTS FROM**
Donations and legacies
574,843
300,352
-
**Charitable activities**
World Congress of Dermatology
828,286
-
-
Other trading activities
14,991
-
-
Investment income
202,625
-
3,777
**Total**
1,620,745
300,352
3,777
**EXPENDITURE ON**
Raising funds
160,820
-
2,255
**Charitable activities**
Support the operational costs of the RDTC in
Moshi
93,364
151,180
-
IFD general activities
160,383
122,032
-
Student sponsorship
-
112,200
-
ILDS activities
1,202,542
-
-
Community Skin Health Journal
99,226
73,684
-
Global Psoriasis Atlas
81,669
15,978
-
World Congress of Dermatology
90,912
-
-
WHO activities
99,162
-
-
**Total**
1,988,078
475,074
2,255
Net gains/(losses) on investments
(1,809,192)
-
(60,580)|Total
funds
$ 875,195
828,286
14,991
206,402
1,924,874
163,075
244,544
282,415
112,200
1,202,542
172,910
97,647
90,912
99,162
2,465,407
(1,869,772)|
|---|---|
continued...
Page 27
## **THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**14.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Endowment
fund
funds
fund
$ $ $ **NET INCOME/(EXPENDITURE)**
(2,176,525)
(174,722)
(59,058)
**Transfers between funds**
(280,792)
280,792
-
**Net movement in funds**
(2,457,317)
106,070
(59,058)
**RECONCILIATION OF FUNDS**
Total funds brought forward
14,379,592
277,412
1,133,561
**TOTAL FUNDS CARRIED FORWARD**
11,922,275
383,482
1,074,503
**15.**
**TANGIBLE FIXED ASSETS**
Plant and
Office
machinery
equipment
$ $ **COST**
At 1 January 2023 and 31 December 2023
60,622
20,952
**DEPRECIATION**
At 1 January 2023
3,789
13,451
Charge for year
14,532
2,121
At 31 December 2023
18,321
15,572
**NET BOOK VALUE**
At 31 December 2023
42,301
5,380
At 31 December 2022
56,833
7,501
**16.**
**FIXED ASSET INVESTMENTS**
Cash and
Listed
settlements
investments
pending
$ $ **MARKET VALUE**
At 1 January 2023
11,268,111
1,071,929
Additions
1,868,899
1,983,304
Disposals
(1,671,385)
(1,868,883)
Revaluations
693,749
-
At 31 December 2023
12,159,374
1,186,350
**NET BOOK VALUE**
At 31 December 2023
12,159,374
1,186,350
At 31 December 2022
11,268,111
1,071,929
|**14.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Endowment
fund
funds
fund
$ $ $ **NET INCOME/(EXPENDITURE)**
(2,176,525)
(174,722)
(59,058)
**Transfers between funds**
(280,792)
280,792
-
**Net movement in funds**
(2,457,317)
106,070
(59,058)
**RECONCILIATION OF FUNDS**
Total funds brought forward
14,379,592
277,412
1,133,561
**TOTAL FUNDS CARRIED FORWARD**
11,922,275
383,482
1,074,503
**15.**
**TANGIBLE FIXED ASSETS**
Plant and
Office
machinery
equipment
$ $ **COST**
At 1 January 2023 and 31 December 2023
60,622
20,952
**DEPRECIATION**
At 1 January 2023
3,789
13,451
Charge for year
14,532
2,121
At 31 December 2023
18,321
15,572
**NET BOOK VALUE**
At 31 December 2023
42,301
5,380
At 31 December 2022
56,833
7,501
**16.**
**FIXED ASSET INVESTMENTS**
Cash and
Listed
settlements
investments
pending
$ $ **MARKET VALUE**
At 1 January 2023
11,268,111
1,071,929
Additions
1,868,899
1,983,304
Disposals
(1,671,385)
(1,868,883)
Revaluations
693,749
-
At 31 December 2023
12,159,374
1,186,350
**NET BOOK VALUE**
At 31 December 2023
12,159,374
1,186,350
At 31 December 2022
11,268,111
1,071,929
|Total
funds
$ (2,410,305)
-
(2,410,305)
15,790,565
13,380,260
Totals
$ 81,574
17,240
16,653
33,893
47,681
64,334
Totals
$ 12,340,040
3,852,203
(3,540,268)
693,749
13,345,724
13,345,724
12,340,040|
|---|---|---|
||||
||
||
||
||
Investment assets consist of three portfolios managed by Browns Advisory and Cazenove Capital, comprising bonds of $7,308,740 (2022: $7,343,149), equities of $3,874,252 (2022: $3,076,427) and alternatives of $976,382 (2022: $848,535).
continued...
Page 28
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **16. FIXED ASSET INVESTMENTS - continued**
Additions include investment income (net of fees charged) earned in the year being reinvested.
Cost or valuation at 31 December 2023 is represented by:
|Listed
investments
$ Valuation in 2023
12,159,374
**17.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and accrued income
**18.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
**19.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.1.23
in funds
$ $ **Unrestricted funds**
**Restricted funds**
383,482
(360,771)
**Endowment funds**
IFD (Moshi RDTC) Endowment Fund
1,074,503
65,020
**TOTAL FUNDS**
13,380,260
2,998,481
General fund
11,922,275
3,294,232
IFD General
44,963
(115,681)
IFD RDTC
-
(107,310)
IFD Community Skin Health Journal
-
1,006
ILDS Global Psoriasis Atlas
338,519
(138,786)|Cash and
settlements
pending
$ 1,186,350
31.12.23
$ -
135,505
135,505
31.12.23
$ 148,439
14,931
181,759
330,663
675,792
Transfers
between
funds
$ 178,028
(24,498)
-
(153,530)
70,718
107,310
-
-|Totals
$ 13,345,724
31.12.22
$ 2,715
11,510
14,225
31.12.22
$ 268
-
5,907
412,202
418,377
At
31.12.23
$ 200,739
1,115,025
16,378,741
15,062,977
-
-
1,006
199,733|
|---|---|---|
||||
||||
continued...
Page 29
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **19. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
**Restricted funds**
**Endowment funds**
IFD (Moshi RDTC) Endowment Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
**Restricted funds**
**Endowment funds**
IFD (Moshi RDTC) Endowment Fund
**TOTAL FUNDS**
General fund
IFD General
IFD RDTC
IFD Community Skin Health Journal
ILDS Global Psoriasis Atlas
General fund
IFD General
IFD RDTC
IFD Community Skin Health Journal
ILDS Global Psoriasis Atlas||Incoming
resources
$ 475,703
25,788
4,712,190
At 1.1.22
$ 277,412
1,133,561
15,790,565
4,210,699
339,416
134,850
1,006
431
14,379,592
-
-
-
277,412||Resources
expended
$ (836,474)
(1,619)
(2,476,909)
Net
movement
in funds
$ (174,722)
(59,058)
(2,410,305)
(1,638,816)
(455,097)
(242,160)
-
(139,217)
(2,176,525)
44,963
(208,380)
(72,412)
61,107||Gains and
losses
$ -
40,851
763,200
Transfers
between
funds
$ 280,792
-
-
722,349
-
-
-
-
(280,792)
-
208,380
72,412
-||Movement
in funds
$ (360,771)
65,020
2,998,481
At
31.12.22
$ 383,482
1,074,503
13,380,260
3,294,232
(115,681)
(107,310)
1,006
(138,786)
11,922,275
44,963
-
-
338,519|
|---|---|---|---|---|---|---|---|---|
||||||||||
||||||||||
continued...
Page 30
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **19. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
IFD General
IFD RDTC
IFD Community Skin Health Journal
ILDS Global Psoriasis Atlas
**Endowment funds**
IFD (Moshi RDTC) Endowment Fund
**TOTAL FUNDS**|Incoming
resources
$ 1,620,745
166,995
55,000
1,272
77,085
300,352
3,777
1,924,874|Resources
expended
$ (1,988,078)
(122,032)
(263,380)
(73,684)
(15,978)
(475,074)
(2,255)
(2,465,407)|Gains and
losses
$ (1,809,192)
-
-
-
-
-
(60,580)
(1,869,772)|Movement
in funds
$ (2,176,525)
44,963
(208,380)
(72,412)
61,107
(174,722)
(59,058)
(2,410,305)|
|---|---|---|---|---|
## **Endowment Funds**
The International Foundation for Dermatology (Moshi RDTC) Endowment fund is a capital fund that must have a balance of $1,000,000 before any investment income earned can be used by the charity. That investment income can only be used to provide support to the Regional Dermatological Training Centre in Moshi, Tanzania.
## **Restricted Funds**
The IFD General fund relates to donations received by the charity where the donor has stated they wish for the donation to be spent on IFD activities with no specific activity named.
The IFD RDTC fund relates to donations received by the charity where the donor has stated they wish for the donation to be spent on the operations of the Regional Dermatology Training Centre in Moshi, Tanzania including those donations restricted to be spent in a particular year. The charity utilised $82,812 of unrestricted reserves and $24,498 of the Endowment income, to cover $107,310 of expenditure not covered by specific donations during the year ended 31 December 2023. Donations received by the charity where the donor has stated they wish the donation is for the sponsorship of students are allocated to a separate IFD Student Sponsorship fund.
The IFD Community Skin Health Journal fund relates to donations received which are specifically to fund the costs of producing and distributing the journal.
The Global Psoriasis Atlas fund is to support the development of a Global Psoriasis Atlas project which will provide a common benchmark on the complete burden of psoriasis in all countries and regions throughout the world by leveraging existing data from publications and registries. Its aim is to provide a resource on psoriasis globally which will inform research, policy and healthcare provision for the disease worldwide. It is a collaboration between the ILDS, the International Federation of Psoriasis Associations (IFPA) and the International Psoriasis Council (IPC).
continued...
Page 31
**THE INTERNATIONAL LEAGUE OF DERMATOLOGICAL SOCIETIES (Registered Number: 05466148)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **20. CONTINGENT ASSET**
At 31 December 2023, the charity was owed the balance due to it from the World Congress of Dermatology 2023. The final total has yet to be ascertained so whilst it is clear that the charity is entitled to it and it is probable that it will be received, the amount cannot be measured reliably until after the overall results have been audited. However, the final balance is expected to be in the region of $2.4m to $2.5m and will be accounted for in the year it is received.
## **21. RELATED PARTY DISCLOSURES**
The charity's head office is located in the offices of the British Association of Dermatologists (BAD), a member society of the ILDS. During the year the ILDS paid the BAD $25,826 for rent and services. (2022 - $22,034).
## **22. ULTIMATE CONTROLLING PARTY**
There was no ultimate controlling at the balance sheet date.
## **23. COMPANY LIMITED BY GUARANTEE**
The liability of each member is limited to £10 by guara
Page 32