THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS (A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
BOYDELL & CO
Chartered Accountants 146B Chiswick High Road London W4 1PU
Charity number: 1165766 Company number: 09732439
CONTENTS
| Company information Report of the Executive Committee Report of the Independent Examiner Statement of Financial Activities Balance sheet Notes to the Financial Statements |
Page 1 2-6 7 8 9 10-15 |
|---|---|
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
COMPANY INFORMATION
EXECUTIVE COMMITTEE Salvatore Battaglia (Chair) Norlisa Abdullah Georgina Chester-Moore Rui Parkinson Kate Rourke Jon Tay Seng Tong Kyoto Wood COMPANY NUMBER 09732439 CHARITY NUMBER 1165766 REGISTERED OFFICE 146 South Ealing Road London W5 4QL INDEPENDENT EXAMINER Malcolm Barry Boydell FCA Chartered Accountant 146B Chiswick High Road London W4 1PU
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees, who are also directors of the charitable company for the purposes of the Companies Act, submit their annual report and the independently examined financial statements of the charitable company for the year ended 31 December 2025.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 2015).
PURPOSES AND AIMS
The charity had been operating for many years as an unincorporated entity (charity registration number 327290) but these activities were taken over by the new charitable company from 1 April 2016. The assets and liabilities of the unincorporated charity were taken over on this date. The company was incorporated (company number 09732439) on 13 August 2015 and registered with the Charity Commission (reg. number 1165766) on 25 February 2016. The charitable company is governed by its Memorandum and Articles of Association.
There are currently 7 members of the charitable company. All members agree to contribute £1 in the event of the company winding up.
The objects of the Federation are the preservation of health by advancing the knowledge, practice of and expertise in aromatherapy by education, teaching, research and training.
The chair of the Trustees is nominated and elected by the Board of Directors at the first council meeting after the AGM. New members are nominated by the Trustees and selected for appointment by the Trustees.
New Trustees undergo a period of induction to brief them of their legal obligations under Charity and Company Law, the content of the Memorandum and Articles of Association and the decisionmaking processes.
RISK MANAGEMENT
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
RESERVES POLICY
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level, which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs.
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
FINANCIAL PERFORMANCE OVERVIEW
The International Federation of Aromatherapists (IFA) has completed the financial year ending 31 December 2025 in a strong and stable position. This year marked our 40th Anniversary, celebrated through major international events, strategic research publication, global collaborations, and continued prudent financial management.
Turnover
Total turnover for 2025 was £564,164 compared to £537,709 in 2024, representing steady growth.
-
Exam revenue increased from £137,290 (2024) to £154,235 (2025), reflecting recovery and improved contractual stability.
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Membership income totalled £292,372 compared to £300,598 in 2024. Overseas membership remains strong.
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40th Anniversary events in Guangzhou and Hong Kong generated £26,242 in revenue.
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School registrations remained stable at £43,901 (2024: £45,275).
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Interest income totalled £12,151.
Cost of Sales and Gross Profit
Total cost of sales increased slightly to £72,383 (2024: £63,544), primarily due to increased exam activity and higher translation costs associated with international expansion. Gross profit improved to £491,781 (2024: £474,165), maintaining a strong margin above 87%.
Administrative Costs
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Administrative costs reduced to £304,553 (2024: £330,881).
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Salaries reduced to £169,747 (2024: £192,206) following restructuring and efficiencies.
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Postage costs decreased to £46,296 (2024: £49,674).
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Bank charges reduced to £9,808 (2024: £12,529).
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Conference costs increased to £9,360 reflecting international 40th Anniversary events.
Net Surplus
Operating profit for the year was £186,606 compared to £143,866 in 2024, a substantial improvement from 2024.
This stronger surplus reflects recovery in exam income, controlled expenditure, and successful international engagement during the 40th Anniversary year.
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
Strategic & Operational Highlights 2025
The year 2025 was the International Federation of Aromatherapists 40[th] anniversary and to celebrate this achievement we held major events in Guangzhou China, Hong Kong and online conferences for UK and Japan. The online events were free and all seminars, conferences etc were very well attended. These events allowed us to engage with our members and like-minded practitioners in all countries.
Our research projects with essential oils and Co2 plant extracts has allowed us to collaborate globally with other research committee which has given us valuable PR to promote aromatherapy to a wider audience. Our hair cortisol paper was published in the International Journal of Alternative Medicine in March, and our diurnal cortisol paper will be available in 2026.
We have had various sponsorships during 2025. Crisis homeless for Christmas project which we have support for the last 10 years went well unfortunately more wellness packs were needed due to a increase of people living on the streets. We have collaborated with Hong Kong Sheng Kung Hui Tseung Kwan O Aged Care Complex with IFA aromatherapists giving treatments for a 6-month project to benefit the health and wellbeing of the elderly in the care homes. We also donated essentials oils and blending tools. St Annes’s special needs assessment was finalised in 2025, and the schools is now using aromatherapy in its classrooms; it was encouraging to see so many teachers on the course. China Welfare and Senior Care Association are using IFA aromatherapists in 7 different cities giving treatments to the elderly and using essential oils. They are researching the conclusion. The IFA have 150 aromatherapists involved in the project which will increase in 2026 for expansion in more cities.
The Education committee have been working on updating the aromatherapy and professional essential oil syllabus, this has been completed. To support new school’s teacher manuals have also been created. This has taken a long time, but this will ensure all our schools are working to the same standard. All the syllabus and manuals are to be translated into Chinese, Japanese and Korean which is work in progress and should be completed Spring 2026.
We continue to be accredited by the Professional Standards Authority (PSA), a UK body accountable to parliament and are an active member of the PSA Collaborative group and Integrated Health Collaboration (IHC). We are also a verifying organization for the Complementary and Natural Healthcare Council (CNHC). We also continue to be recommended by the NHS, UK Government Careers Office and our journal is registered with the British Library ‘The Aromatherapy Times’.
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
DIRECTORS AND TRUSTEES
The directors of the charitable company are its trustees for the purposes of charity law. The trustees serving during the year and since the year end were as follows:
Directors and Trustees:
Norlisa Abdullah Salvatore Battaglia Georgina Chester-Moore (appointed 17 May 2025) Josie Donaldson (resigned 17May 2025) Catherine Jacobs (resigned 17 May 2025) Desmond O’Neil (appointed 21 March 2025, resigned 17 May 2025) Rui Parkinson Kate Rourke (appointed 17 May 2025) Jon Tay Seng Tong Kyoto Wood
TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The Trustees (who are also the directors of the International Federation of Aromatherapists for the purposes of company law) are responsible for preparing the Trustee’s annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the company for that period. In preparing those financial statements, the Trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS (CONTINUED)
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
In accordance with company law, as the charitable company Trustees, we certify that:
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so far as we are aware, there is no relevant information of which the charitable company’s independent examiners are unaware; and
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as the Trustees of the charitable company have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant information and to establish that the company’s independent examiner is aware of that information.
INDEPENDENT EXAMINER
The trustees consider that for the year ended 31 December 2025 the company was entitled to exemption from a statutory audit under section 477 of the Companies Act 2006. Under the provisions of the Act, the directors have appointed Mr Malcolm Barry Boydell FCA, as Independent Examiner.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE TRUSTEES:
………………………………..
Salvatore Battaglia
1[st] August 2026
146 South Ealing Road London W5 4QJ
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF
THE INTERNATIONAL FEDERATION OF AROMTHERAPISTS (A COMPANY LIMITED BY GUARANTEE)
FOR THE YEAR ENDED 31 DECEMBER 2025
I report on the accounts of the company for the year ended 31 December 2025 which are set out on pages 7 to 14.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
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 charity 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:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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(a) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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(b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 386 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Malcolm Barry Boydell FCA
Chartered Accountant 146 B Chiswick High Road London W4 1PU
30[th] July 2026
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | |||
| Incoming Resources | |||
| Membership | 292,372 | 300,598 | |
| Examinations | 154,235 | 137,290 | |
| Registration of schools | 43,901 | 45,275 | |
| Booklets and leaflets | 6,523 | 5,310 | |
| Gift Aid – covenanted income | 3,259 | 3,410 | |
| Magazine | 28 | 1,075 | |
| Workshops | 3,494 | 10,100 | |
| UK conference income | - | 9,920 | |
| Other income | - | 1,980 | |
| 40thAnniversary conference income | 26,242 | - | |
| Net investment income | 2 | 34,111 | 22,751 |
| _ | _ | ||
| Total incoming resources | 564,164 | 537,709 | |
| _ | _ | ||
| Resources Expended | |||
| Cost of generating funds: | |||
| Fundraising expenses | - | - | |
| Charitable expenditure: | |||
| Direct charitable | |||
| expenditure | 3 | 72,383 | 63,544 |
| Management and | |||
| administration | 4 | 304,553 | 330,881 |
| _ | _ | ||
| Total resources expended | 376,936 | 394,425 | |
| _ | _ | ||
| Net surplus for the year | 187,228 | 143,284 | |
| Value adjustments in respect of | |||
| investments – unrestricted | (622) | 582 | |
| _ | _ | ||
| Total surplus for the year | 186,606 | 143,866 | |
| Fund balances brought forward | 1,441,106 | 1,297,240 | |
| __ | __ | ||
| Fund balances carried forward | £ 1,627,712 | £ 1,441,106 | |
| __ | __ |
The notes on the following pages form an integral part of these financial statements.
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
BALANCE SHEET AT 31 DECEMBER 2025
| Note | |||
|---|---|---|---|
| 2025 | 2024 | ||
| FIXED ASSETS | |||
| Tangible assets | 7 | 305,250 | 312,881 |
| _ | ______ | ||
| 305,250 | 312,881 | ||
| CURRENT ASSETS | |||
| Debtors and prepayments | 27,012 | 14,336 | |
| Investments | 8 | 422,924 | 360,749 |
| Cash at bank | 881,625 | 770,036 | |
| _ | ______ | ||
| 1,331,561 | 1,145,121 | ||
| CREDITORS: amounts falling due | |||
| within one year | 9 | (9,099) | (16,896) |
| _ | ______ | ||
| NET CURRENT ASSETS | 1,322,462 | 1,128,225 | |
| __ | __ | ||
| TOTAL ASSETS | £ 1,627,712 | £ 1,441,106 | |
| __ | __ | ||
| Represented by: | |||
| UNRESTRICTED FUNDS | 10 | 1,627,712 | 1,441,106 |
| __ | __ | ||
| TOTAL CHARITY FUNDS | £ 1,627,712 | £ 1,441,106 | |
| __ | __ |
For the financial period ended 31 December 2025 the company was entitled to exemption from audit under section 477 [small company exemption] Companies Act 2006; and no notice has been deposited under section 476 [member or members requesting an audit].
The trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s. 386 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Trustees on 1[st] August 2026.
………………………………………………. Salvatore Battaglia
The notes on the following pages form an integral part of these financial statements.
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES
Statutory information
The International Federation of Aromatherapists is a private company, limited by guarantee, and domiciled in England and Wales. It has a Companies House registration number 09732439 and is registered at the Charity Commission under registration number 1165766.
The Federation’s registered office is 146 South Ealing Road, London, W5 4QJ.
Statement of compliance
The Federation’s financial statements have been prepared in accordance with the provisions of the 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended by SORP update bulletin 1 concerning the non-disclosure of a cashflow statement), the Companies Act 2006 and the Charities Act 2011.
There were no material departures from the standard or acts.
The International Federation of Aromatherapists meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The Trustees have reviewed the Federation’s financial position and considered the impact of future activities, to ensure it is appropriate to produce the accounts on a going concern basis.
Tangible fixed assets
Long leasehold buildings are depreciated at an annual rate of 2% of historic cost on a straightline basis.
Other financial instruments
Other financial instruments which include investments in equity instruments are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the Statement of Financial Activities, except that investments in equity instruments that are not publicly traded and whose fair values may not be measured reliably are measured at cost less impairment. Financial assets, other than those held at fair value, are assessed for indicators of impairment at each reporting end date.
Turnover
Turnover represents predominantly world-wide membership fees receivable.
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
1. ACCOUNTING POLICIES (CONTINUED)
Value Added Tax
Value Added Tax is not recoverable by the charity and as such is included in the relevant costs in the Statement of Financial Activities.
Unrestricted Funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Restricted Funds
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.
2. NET INVESTMENT INCOME/(CHARGES)
Interest on cash deposits Other interest received Dividends received Other income distributions Realised (loss)/profit on disposal of investments Prior year unrealised profits/(losses) reversed Quilter Cheviot investment charges £ 3. DIRECT CHARITABLE EXPENDITURE Translation costs Magazines Books purchased for resale Booklets, leaflets and directories Exhibitions and meetings Examinations Miscellaneous costs Research costs (University of Northumbria) UK conference costs Workshop costs Charity projects £ |
2025 2024 12,151 10,206 6,379 6,077 5,667 6,917 521 651 (2,712) 1,418 14,832 - (2,727) (2,518) __ _ 34,111 £ 22,751 _ _ 2025 2024 16,367 10,680 9,199 12,183 440 - - - 9,682 1,027 33,467 29,131 400 - - 21 - 6,298 441 1,450 2,387 2,754 _ 72,383 £ 63,544 ____ |
2024 |
|---|---|---|
3. DIRECT CHARITABLE EXPENDITURE
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
4. MANAGEMENT AND ADMINISTRATION EXPENDITURE
| 2025 | 2024 | ||
|---|---|---|---|
| Note | |||
| Gross salaries | 6 | 169,747 | 195,206 |
| Other staff costs | 2,867 | 3,521 | |
| Staff training and recruitment | - | - | |
| Office heating, lighting and council tax | 3,628 | 2,318 | |
| Office telephone and internet | 2,664 | 3,796 | |
| Website | - | 215 | |
| Postage, printing and stationery | 46,296 | 49,674 | |
| Travel, accommodation and | |||
| council expenses | 1,726 | 3,640 | |
| UK entertaining | 702 | 1,075 | |
| Property service charges and insurance | 4,908 | 11,247 | |
| Advertising and PR | 450 | 2,281 | |
| Bank and credit card charges | 9,808 | 12,529 | |
| Book-keeping and accountancy | 12,054 | 10,100 | |
| Professional Standards Authority | 12,867 | 12,675 | |
| Other associations | 1,359 | 35 | |
| AGM costs | 114 | - | |
| Independent examiner’s fee | 3,780 | 3,690 | |
| Repairs and low value assets | 11,667 | 647 | |
| Computers and IT maintenance | 8,069 | 8,589 | |
| Depreciation – leasehold property | 7,631 | 7,631 | |
| Photocopier rental | 4,216 | 2,012 | |
| _ | _ | ||
| £ 304,553 | £ 330,881 | ||
| _ | ______ | ||
| 5. OPERATING SURPLUS | |||
| Operating surplus is shown after charging: | |||
| 2025 | 2024 | ||
| Depreciation on tangible fixed assets | £ 7,631 | £ 7,631 | |
| _ | ______ |
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
6. STAFF COSTS
| . STAFF COSTS | ||
|---|---|---|
| 2025 | 2024 | |
| Gross wages and salaries | 147,377 | 166,984 |
| Social security costs | 8,250 | 12,973 |
| Pension costs | 14,120 | 15,249 |
| _ | ______ | |
| £ 169,747 | £ 195,206 | |
| _ | ______ |
No Trustee received any remuneration during this or the previous year in their capacity as a trustee. One employee received remuneration between £80,001 and £85,000 (2024: one employee received remuneration between £75,001 and £80,000).
The average number of staff employed by the charity during the year was as follows:
| 2025 (No.) Direct charitable work 3 _ 7. TANGIBLE FIXED ASSETS Leasehold Property COST At 1 January 2025 381,560 Additions - _ As at 31 December 2025 381,560 _ DEPRECIATION As at 1 January 2025 68,679 Charge for the period 7,631 _ As at 31 December 2025 76,310 _ NET BOOK VALUE As at 31 December 2025 £ 305,250 _ As at 31 December 2024 £ 312,881 _ |
2024 (No.) 4 _____ |
|---|---|
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
8. CURRENT ASSET INVESTMENTS
| 2025 | 2024 | |
|---|---|---|
| Listed investments | £ 422,924 | £ 360,749 |
| _ | ______ | |
| At the reporting date, listed investments held with are held at their market value, in | ||
| accordance with their valuation report | prepared by the new investment manager CCLA Good | |
| Investments. |
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2025 | 2024 | |
|---|---|---|
| Trade creditors | - | 1,709 |
| Accruals | 3,780 | 3,780 |
| Social security and other taxes | 4,713 | 4,837 |
| Other creditors | 606 | - |
| Income received in advance | - | 6,570 |
| ______ | ______ | |
| £ 9,099 | £ 16,896 | |
| _ | ______ | |
| 10. ACCUMULATED FUND-UNRESTRICTED | ||
| 2025 | 2024 | |
| Balance at 1 January 2025 | 1,441,106 | 1,297,240 |
| Excess of income over expenditure for the year | 186,606 | 143,866 |
| __ | _ | |
| Balance at 31 December 2025 | £ 1,627,712 | £ 1,441,106 |
| __ | _ |
THE INTERNATIONAL FEDERATION OF AROMATHERAPISTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
11. RELATED PARTIES
There are no related party transactions to report, other than the remuneration earned by the Federation’s employees.
12. OTHER FINANCIAL COMMITMENTS
At 31 December 2025 the Federation had no annual commitments under non-cancellable operating leases.
13. CONTINGENT LIABILITIES
At 31 December 2025 the Federation had no contingent liabilities.
14. OFF BALANCE SHEET ARRANGEMENTS
There are no material off-balance sheet arrangements to disclose.
15. EVENTS SINCE THE BALANCE SHEET DATE
There are no events on which to report.
16. FINANCIAL INSTRUMENTS
Other than its investments, the Federation has no other financial instruments than basic financial instruments.
17. TRUSTEES’ ADVANCES, CREDIT AND GUARANTEES
There were none made during the year.