Charity Registra0 No. 1170647 ILFA A COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021
ILFA A COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Olufunke 4ayi Adekoya Howard Barrie Timothy Taylor David "YambE Daniel Mutisya Charlty number 1170647 Company number 09085MO Registered ¢Jffice First Floor. Sentinel House Senbnel Square London NW4 2EP Indepondent examiner Jacky C Lax FCA Jacob ChadÈ% & Co SenlÈnel House, Sentinel Square London NW4 2EP
ILFA A COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees. feport Slalement of Trustees. responsibilities Independent examinews ieKX)rt Slalement of finanaal activities Balan sheel Notes to the accounts 9-14
ILFA A COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 The Irusteps present their iewrt and accounts for the year ended 30 November 2021. The gccounts have been prepared in accordance wrth Ihe accounting poliue5 sel out in note 1 to the accounts and comply with ILFA'S CDnsiilulion. the Companies Act 2006 and-AcGountsng and Rèporting by Charities.. Slalement of Recommended Prath'ce appltcable lo charibes pparing their accounts in accordance with the Financial Reportang Standard appliGable in the UK and Republtc ol Ireland IFRS 1021" leffective from 1 January 20191 Structure, govemance and management ILFA is a company limfted by Guafanlee and is registe as a Charity, and on 27 September 2021 adopted New ArticlÈs of Association thal uOaled those adopted in December 2015 when ILFA was first registered as a Charity_ The trustees. who are also directors lor the purposes of Company law. Seed during Ihe year were." Olufunke Adekoya Howard Barrie rifflolhy Taylor David Ziyamb Daniel Mu115ya John Ludden Tinashe Makoni Kem Uzoma Ihenacho Melissa Buuer Geeta Khehar Aboubacer Fall OlUmberRlg# oyee laptK)inted 5 February 2021} {appointe(15 February 20211 lappoinled 1 septeMr 20211 lappojnled 1 September 2D211 (resigned 1 November 20211 (resigned 1 November 20211 (re5igfted 5 February 20211 (resigned 5 February 20211 (resigned 5 FebAJary 20211 (resigned 5 February 20211 resigned 5 Febru8ry 20211 On 21 January 2022 Mrs Stjsan Craughan was appointed as an a(Jdilional director. The goveinance of the Company is ihe responsibility of Ihe Boar(J (the membets ol which are 81so the IrusieÈs of the charity). which is elected by ILFA'S member5 at an Annual General Meeting. The Board member5 serve a maximum nDd of a three-yearlemi before rebring at the next AGM. Each Board member is eligible lo sland lor ie-election, once, thereby serving Iwo consecutive Ihree years lern)s, and for a third term subject to a Board Resolution apprDve(t by all the other directors. None of the Injslees has any beneficial interest in the company. Al of the trustees are MeMir5 of the company and guarant* lo Gontribute £1 in the event ol a wnding up. The Board is responsible fDr the general control and managemeni ol ILFA. The Board meets regularfy throughout the year and there are SUb-MMees and groups. which report lo the Board. All SignifinI opeffjliofjal dea"5i0ns are made by the Board. with certain key decisions approved by the member5 in open meeting. Follc)wing appoinlmentr new Trustees each of whom are for ihe time being Qualified lavryers, are introduced to their role and given &ce5S to the Memorandum & Articles of Association and a guide lo the policies and procedures adopted by the Company. Eath of Ihem are m3¢Je aware of the Company's slalus a5 a registered charity and consequelluy the SCDpe of their responsibilities undet the Charitie5 Act.
ILFA A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 Objectives and activities ILFA'S objectives arè for thè public benefrt lo facilitste the advancement of posl-graduale level legal eduGion and the study of law by indikiduals from Ihe ts)ntinent ofAfrica. The trustees have patty due regard to guidance issued by the Charity Commtssion in deciding whtch activities the charity should undertake. In common wlh many Similar charities. ILFA reliant on subsoiptions and participatory 5UPPOrt of UK legal firms. Achievements and people Under the (lirection of our Chief Executivè offir ILFA provides educalional services. including its Flagship Programme under which African lawyers of promise are leded to attend a 3 month prograrnme and lo work with sponsorlng legal firws in the UK. Faleema Benjamin wag appoinle(l as Proiect Manager in March 2021. ILFA'S plans for the year were greally affeGled by the Covid-19 pandemic, which ha5 caused the poslponemenl of the Flagship Programme for the year and the can¢ellats"on of our anntjal fundraising Gala Dinner. However. before the Pandemic t(x)k effect ILFA was able Èo hold a successfLJI Elevate Legal ExGellence Academy in Nairobi, Kenya in February 2020, and in October 2021 3 further Le9al Excellence Acaderny was held on a digital forr¥>al platfomi_ Futur• Plan$ The Trustees will continue lo athieve the stated ot¥ectTves by prowding an annual edLtcalional progrdmme, and rel8led adivilies. Building on the wwularity of the dlIa[ Legal Excellen Acadeiny ILFA is planning to hold up lo 3 in the first halfof 2022. in Kampala. Lagos and Lusaka sponsorship and participation of a mixture of local and inlerr)81ional law fimis. Now that in the UK social distancing iegulab'on and Iravel reslriclions have been lifted, we are planning lo holij our Flagship Programme based In London. Dubai and South Afn"c3 in Aulbmn 2022. With w01.g from Home- for al least part of 8 working week r>ow teing the norm for UK solicitors, fims, therè is a degree of leti amongst some traditional sponsors to participate In the Programffle and the related actÈvib"es that take place around il. Public Benefit The Iwslees have Complied with their duty in seclion 17 of the Charibes Act 2011 to have due regard lo the guidelines published by the Charities Commission_ Flnanclal rgview The accounts for 2021 are presenled within this teporl. Th8 trustees are advised, by their èccountsnts that no audit is required this year. The Iruslees conlirln that the accounts and the related note5 comply wilh current statutory requirements. the requiremenis of ILFA'S constitution. and thè wuirements of the St21ement of Recommended Practi¢e appli¢able to charib.es preparing their accounts in aGcor(lance with the Financial Reporting SlandarcS applicae rn the UK and Republic of Ireland IFRS102).
ILFA A GOMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 As Jt 30 Noyember2021 ILFA hekl ur4resbfjdwJ gerjernl funds of £49.447 (2020 .. £26.858}. R held J uareslricted designated, 01 Trstri(*d AJTrJ8. The 80a belEves the rernains stablo and vllll c¢)ntinue tD mnrtor (x)sts (XtY throwhovt thts d61rt¥tt e0)nOm wlod.
sg the pdiGy of the 8Dard It uDrestrTded Ojnds which habE not ljeen cJesvJn8ted for a sp#Lific use
should be malntained at a 5evel equnI to iEtr+Een tree- and six-tnonth's eXpdlre. Tho trustees e¢)nsiderth8t reserves at Ihs the¢ w1 tha( in Ihe event st9nÈficant dN)p in lundin9, tlw be avle to C(bDUe ILFA'5 current a(Xi¥its tt)nsideFatK)n is gi%n to vrnys In whth 8dditional fund5 FTray be r&iwl. Thks ol reseye3 has ten throu9hout the year. The trustses have assessed the w risks Io SLFA is exp)wJ and ar saisfied that systemg aFe in Pla to mtsgate exposure to the rnaJ risks. The blJStees' port was appro¥e•J Lry thè Tntst¢es and on belwW4)flho TnEstsss by How8ft1 Barrte Dated.. 26 2022
ILFA A COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2021 The InJslees, who are also the directots of ILFA: are responsible loi preparing the Trustees. Report and the financial statements in a¢cordance with applicable law and United Kingdom Ac¢ounb"ng Standards (United Kingdom Generally Accepted Accounting Prdth"ce). The law applicable to charities in England and Wales require5 the trusl8es to prepare financial slalements for each financial year which give a true and fair of the stste of affairs of ILFA and ol the incoming resources and application of resour for that year. In prep8ring these accounts. the trust$ are required to". select suitable aCUnting p(Aioes and Ihen apply Ihem ci)nsistenUy- observe the melhLyJs and winciples in the charib.es SORP,. make judgemonls and èsimates Ih81 are reasonable arHJ prudent", stsle whelherepplicable accounting slandards have been followed. subj1 to any material (Jeparture5 disclosed and explained in the accounts- and prep8r& the accounts on the going concem basis unless it is inappropriate lo presume that the charity wi15 cont'nue in operab"on. The trustèes gre responsiblè lor keeping suffictent accounting records Ihal disclose with reasonable accuracy at any time the financial wstlKJn ol ILFA and enable theffl to ensure lh.al the accounts comply with the Companies Act 2006. They are also spOnSible for saleguaroing Ihe assels of ILFA and hence lor taking reasonable steps for the prevention and deiection of fraud and other irregularities.
ILFA A COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ILFA I report lo the trustees on my examination of the financial slalements of ILFA (the charity) fof the year ended 30 November 2021. Responsibllitie$ and basis of report As the tTUStees of Ihd charity land also it5 directors for the purposes of company lawl you are Fesponsible for the preparation of the financial Sialernents in accordance with the requirements of the Companies Act 2006 (the 2006 Acll. Having satisfied myself th8tthe finanual statements of the charFty are not required to be audited under Part 16 01 the 2006 Act and arg eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 01 the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission un¢Jer sectson 14515Kb) of the 2011 ACL Independent examinerfs statsment I have completed my examlnalion. l Gorffirm that no matters have come io my attention in onr*ection with the examinaiion giving me cause to believe that in any tnalerial re5pecl.' accounting records were nol kept Én SpeG1 of the charity as required by section 386 of the 2006 Act," or the finan¢ial statements do not accord with those records." the financial statements do not CoMY with the accourating requirements ol section 396 of the 2006 Act other than any requiremenl that the accOuts give a true and fair vièw which is not a mattel considered a5 part of an independent examination", or the financial statements have not been prepared in accordance with the methods and principl6s of the Stslement of Recommended Practice for ar£ounting an¢J reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicaole in the UK and Republic of Ireland [FRS 102). I have no ¢on¢ems and have come across no other matters in connectlDn Mth the exatllinalion to whi¢h 8ttenlion shoulé be drawn in Ihis report in ordei lo enable a proper understanding of the financial statements to be reached. Jacky C CA Member of the Institute of Charteréd Accountants in England and Wale5 Jacob Chartes & Co sents.nel House, Sentinel Square London NW4 2EP Dated. 26 Juty 2022
ILFA A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2021 Unre5triGted funds Restrictsd funds Total 2021 Total 2020 Notes Income from: Subscriptions Members. Coniributions Evènts Grants Donations Gala dinner Other income 27.500 27.500 25,$00 25.500 47,416 16,301 1,114 12.490 12,490 Total income 65.490 65,490 64,831 Ex ènditure on: Direct event costs 15.806) 15,8061 144,0191 Charitable activities 137.1351 137,1351 131,3941 Total resources exnded 142.9411 142,9411 175.4131 Net (outgoingl l incoming resources 22.549 22,549 110,5821 Other recognlsed gains and105ses Interest reiVed 40 Net movement in funds Taxation 22,589 22,589 110,5711 22,589 28.858 22.589 28.858 110,5711 37.429 Fund balarice 1 Dember 2020 Fund balance 30 November 2021 51.447 S1.447 26,858 The 5talement of financial activities includes all gains and losses reujgnisgj in the year_ All income and expendilvre ijerive from conts'nuing acts"viti"es. The 51atemenl of financial aoivilies also compseS ihe requirements for an income and expenditur8 accounl under The Companies Act 2006.
ILFA A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS A T30 NOVEMBER 2021 2021 2020 Notes Fixed assets Investment in subsidiary 10 Current assets Debtor5 Gash al bank and in hand 8.315 60,451 5.879 46.373 68.766 52,252 Creditors. amounts falling due within one year 12 119.3201 125,395} Nel curnt assets 4g.446 26,857 Totsl assets less current liabilities 49.447 26.858 Income funds Restricted funds Unreslricled funds Designated funds General unrestricted fvnds 49,447 26.858 49,447 26,8 49.447 26,858 The company is enlilled lo exempb.on from the audit requirement contained in section 477 of the Companies Act 2006, lor She year end&1 30 Novembei 2021. Th& directors acknowledge their reSponsi.111[es lor ensuring that the charity keeps accounting records which comply with secliu) 386 of the Acl and for prepallrtg financial slatements whth give a true and fair view of the state of affairs of the Gompany as al the end ol the financial year and of its incoming resources an application of resources, Including its incorne arjd expendttUf8, for the finan¢ial year in a¢cordance wilh the requirements ol sections 394 and 395 and which olhewse comply wth the iequirements of the Cofftpanies Act 20D6 relating lo finanual st8tements. so far as applicable to the Ggmpany. The members have not required the company to obtain an audrt ol its finanual slatements for the year In quesiion in accordance Wilh section 476. These financial slatetnents have been prepared in accordance wlh the provisions appli(xble to companies subjeu io ihe small companies girne,
ILFA A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS A T30 NOVEMBER 2021 The statem¢nf¥ appEwed try the Tr188$ 4)n 26 Jty 2Q22 Signed by Howard Bafrfe on bohajf of thè Trust*è¥ Company R¢Alstratlon number. 09085140
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 Accounling pollcles Charity infommtion ILFA conslitules a public tEnefil enlrty as deffined by FRS 102. Accountlng nVent10Th The accounts have been prepared in accordan ILFA'S governing document. the Charrties Act 2011 and °Accounlr"ng and Reporting by Charities.. Statemeni of Recommended Pra¢ti¢e applicable lo chanties preparing their aUnIS in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. ILFA is a Public 8enefft Entity as defined by FRS102. ILFA has taken advantage of the provistons in Ihe SORP for charities rt to prepare a Stslement ol Cash Flows. The accounts are prepaied in slerfing. which is the funth.onal currency of ILFA. Monetsry amounts in these financial statements are roundett lo the nearest £. The accounls have been prep8red Ltnder the historical cost Gonven.0. The principal accounting policies adople¢ are sei out below. Golng concern At the time ol apprown9 the accounts, the twstees have a reasonable expectalion that ILFA hgs adequatè resources to conlinup in operational existence for the fareseeable future. Thus the twstees conknnue to acjopl the going wncem basis of accounting in preparing the financial statements. Charitable funds Unrestricted funds are available foi use at the dr5crelion of Ihe trustees in furtheiance of their charitable objectives unless the fund5 have been ijesignaled for other purposes. Restocted furM15 are subjed to speufic conditions ty dork)rs as lo how they may be used. The purposes and uses of the reslricled funds are sel out in the notes lo the accounts. Designed funds comprise Untricted fvn(Js that have been sel aside by the Trustees for particular purFxJses. The aim and use ol e3ch designed fund is gel out in the notes lo tho financial slalemenls. InGoming resource5 Income is re¢ognised when ILFA is legally entitled to it after any performance conditions hèvè been mel. the amounts can be measured reliably. and it k% probable tt)at income will be received. Cash donations are recognised receipt. Other thnatiolls a re(wnised once ILFA has been notifi& of Ihe donation, unless perfomiance condits.ons iequire deferral of the amount, Income tax recovèr8ble in rel8tH)n to donations received undei Gift Aid or deeds of covenant is reco9nised at the time of the donation.
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 A¢¢ountlng pollcles (continued) Tumover représents the value of invoiced sales. Grants and donations are recognised for accounltng purposes up)n reipl. Resources exnded Charilable expenditure comwses all expenditure diiedy relating to Ihe objectives of the a(Jminislralion c051 of Dperaling the Charity. Govemance costs indude audit costs, and legal advice for Ihe trustees and any other costs associalfyy with ¢onslilutiollal and statutory reqU1MentS. Support costs- the amounts disdosed der each ol the aly)ve categorie5 comprise Ihose costs which are directly attributable to that calegory logelhpr with an apportionment of support cosls. Support costs aro those c051s that are not directly atthbulable to a single activity but provide the necessary otganisab"ofjal support for all the charity's acbvilies. The support costs have been allocated lo the charitis activities lo which they relate. Consolidation ILFA is a parent company subject to the small c(xnpanies' regime. ILFA and ils subsidiary compnse è small group, and ILFA is therefore not required to arml has chosen rx)t to prepare group accounts. Cash and ¢a$h equivalents Cash ar cash equivalents include cash in har. deposits hekl al ¢all th banks, other short-leim liquid inve51ments with original maturities of th months ot less, and bank overdraft5. Bank overdrafts are shown within bofrowings in ¢Uffent liabilities. Ftnancial instruments ILFA has elected lo appty provisions ol Secuon 11 '8asic Financial Instruments, and Section 12'0ther Finanoal Instruments Issues. of FRS 102 to all of its finala1 instruments. Financial instnjmenls are recognised in ILFA'S balance Sheet when ILFA become5 p&rty tD the contractual prgvisions of the instrument. Financial assets and liabilitses are offset, with the nel amounts presented in the financi81 stslemenls. when there Is ? legally enIOrceae right to set off the recognise(J arnounts and there 15 an intention to settle on a net basis or to realise the asset and Settle the liability simultaneously. Baslc financial assets Basic finanThal assets, which include debtors and cash and bank balances. are initially measured al transacbon rMce incEuding transaction costs and are subsequently carried ai amortised cost using the Èffèctive Interèst mèthcKJ unless ihe arrangemeni consiiiuies a financing transaction, where the liansaction is measured at the present value of the future receipts dibcvunled al a market rate of interest. Financial assets classified as iecewable within one year are not amc)rtised. 10-
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 Basic financial liabilitios Basic financial liabilities: induding creditors and bank loans are irkitially recogn15ed al transaction pri unless the atrangemenl o)nslilules a finanryng Iransaclion. where the debt instrument Is measured at Ike presenl value of the future payments discounted at a marKel mie of inteiest. FinanGial liabilits'es dassrfied as payable within one year are not amorttsed. DetFI instruments are subsequenlty carried al amortised cost. using Ihe effective interest rale method. Trade creditors are oblatiOnS lo pay lor goods or services that have been acquired in the ordinary course of operations from SuplerS. AtTK)unts payable are classified as current liabilibes if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade Creditors are recognised inity'ly al transacb.on price and subsequèntjy measured at amortised cost using the effective inleresl meth(MJ. Derecognitlon of financlal Ilablltlies Financial liabilities are dereo>Jni5ed when ILFA'S contractual obligations expl or are discharged or canlled. Cash Flow Statement The charity has laken advantsge of the exemption available IR paragraph 7.1 B of FRS 102 and has not prepared a cash flow stalemenL Critical accountlng estimates and judgements In the application of ILFA'S accounting policies. the trustees arè reqtsired lo make judgements, eslimales ar assumptK)ns atxwl Ihe carrying am¢Mnt of assets and 118bililies that are not readily apparent from other sources. The estimates and asswaled assumptions are based on historical experience and other facto that are considered lo be relevant Actual results Fnay differ from thes8 estimates. The eslimale5 arKI underfyFng assumptions are reviewed on an ongoing basis. Revisions lo accounting estim31es are recognised in the pèriod in which the estimate is revised whore the vision affects only that perirKI, or in the pericY of the vIsion arKI hjture periods wher6 thè revision affects th cuThent and future peri(KJs.
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 Income Unrestricted lunds Rostricled funds Total 2021 Totsl 2020 Subscriptions receNed Events Donations Gala dinner reWed 2f.500 25,500 27.500 25,500 47.416 16,301 1,114 12.490 12.490 65.490 65.490 64,831 Investmenl In¢omo Unrestrlcted funds Restricted funds Totsl 2021 Total 2020 Inleresl.receivable 40 Direct costs 2021 2020 Event costs LEA costs Gala dinner ¢osls 5,05D 37,175 1,794 5,806 5,806 ,019 12.
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021 Charitable activities 2021 2020 Management costs Website desÉgn arsd hosling AdvErtising arKI promob'on Project manager fees Intern costs Telephone Post, pnnts.ng and stationery Accountancy Legal and professional Bank charges 2,500 245 25.000 3.401 70 30.760 250 1,250 268 750 1,113 482 1,320 498 217 405 37,135 31.394 Share of support costs Share ol wvernance c4Jsts (see note 7) 35.815 1.320 30,644 750 37.135 31,394 Analysis by lund Unrestricted funds - general Reslricled funds 37,135 37,135 Support costs Govemance cost5 indLJdes payments to the independent accountant of £1,32012020- £7501. Trustè•s None of the Ituslee5 (OT any persons connected th theffll r1Ved any remuner81ion, benefits or reimbursement of expenses during the year. Employees Number of employees The Company has no employees12020- Nil)
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 hlOVEMBER 2021 10 Inveslment Thp Company owns 10 Ordinary shares of £0.01 each in ILFA Leaming & Oevelopmenl Limited. representing foo % of that company's issued share capital. The principal activity of the subsidiary company Is Thg development foi resale ol Wal [[9$$10n8l training programmes In a digit81 formal. FOF the year ende(f 30 November 2020 ILFA Leaming and Development Limited made a profit after taxation of £1.137 12020 =10ss £2.3381. Debtors 2021 2020 Amounts falllng due within one year. Traée deblors Prepayments 8,315 348 5.531 8,315 5.879 12 ¢dItOrs.. amounts falling due within one year 2021 2020 Trade cre(Jilors Menibef's subwption paid in advance Sundry creditors and accruaLs 18,000 20,747 2,500 2.148 1.320 19.320 25,395 13 Contingent Ilabllitles There were no related contingent liabilities thal require disclosure. (Junng the year12020- none). 14. Events after thè reporting date The TrUstS remain vigilani regarding the COVHJ pandemic and also m0Tntain their reasonable expectation thal the Charity has aQÈquate reSoUrS to continue in operation for the foreseeablè future from the rjale od approval ol Ihese financial statements. 15 Related paty transactlons The Company paid rnanagement fees of £2.500 (2020 ". £25,000) to ILFA Leaming and Development Limited. 14-