Charity Registration No. 1170647 ILFA A COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 ILFA A COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustggs Olufvnke AJ"ayi Adekoy3 Howard Batrie Timothy Taylor David Jyambi Daniel Mutisya Susan CraJghan Charity number 1170647 Company number 09085440 Registered office First Floor. Sentinel House Senlinel Squaie London NW4 2EP Independgnt examiner Jacky C Lax FCA Jacob Charles & Co Sentinel House. Sentsnel Square London NW4 2EP ILFA A COMPANY LIMITED BY GUARANTEE CONTENTS Page Trust8es' report Slatement of Trustees. responsibilities Independent examinerfs report Slalement of financial acbvities Balance sheet Notes to the accounts 8-13 ILFA A COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 The trustees present their report and accounts for Ihe yeai ended 30 Novembèr 2023. The accounts have been prèpared in accordance wmth the accounting poliGies sel out in note 1 to the accounts and comply with ILFA'S consbtulton. the Companies Act 2006 and "Accounting and RepDrting by Charities. Statement of Recommended Pracbce appliGable to charibes preparing their accounls in accordance with Ihe FinanGial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021. leffeclive from 1 January 20191 Structure. govemance and management ILFA ts a company limited by Guarantee and 15 registered as a Charity. and on 27 Seplember 2021 adopted New Articles of Association that updated those adopted in Decem1￿r 2015 when ILFA was first registered as a Charrty. The trustees, who are also dirpctors for the purposes of company law, setved dunng the year were.. Olufunke Adekoya Howard Barrie Timothy Taylor David Ziyambi Danipl Mutisya Susan Craughan The governance oflhe Company 15 the responsibility ofthe Board Ithe members ofwhich are also the trustees of the charityl. which is appointèd by ILFA'S members_ The Board members Serve 3 maximum period tsl three-year lem before retiring at the next AGM. Each Board member 15 eligible 10 Stand for re-elect%on, once, thereby serving Iwc> consecutive three years temis. and for a third letrn subject to a Board Resolution approved by all the other diTectors. None of the trustees has any beneficial interest in the company. All of ihe trustees are members of the ompany and guarantee to contribule £1 in the event of a winding Ltp. The Board is responsible for the general control and management of ILFA. The Board meets regularfy throughout the year.. All significant operats.onal decisions are made by the Board. Follo￿￿ng appoinlmenl. new Trustees each ol whom a￿ for the time being qualified lawyers, are introduced to their role and given access to the Memorandum 8 Articles of Assctiation and a guFde to the policÈes and procedures adopted by the Company. Each Dflhem are made aware ofthe Company's status as a registered charity and conwuenuy the scope of thei¥ fesponsibilitses under the Char￿"eS A¢1. Objectives and aclivities ILFA'S objech.ves are for the public benefit to faulilale the advancement of posl-graduale level legal education and the study of law by individuals from Ihe continent of Afiica. The trustees have paid due regard to guidance issued by the Charity Commissron in deciding wh￿￿ activities the charity should undertake. In common wth many simÈlar charrties. ILFA is reliant on subscriplions and participatory support of many UK law fifflis. ILFA A COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Achievements and pe￿Ie With the invdvement of its ProgfaTnme M&)agw. Fateema Beiamin. ILFA provides ￿lICatÈ0nal services, including rt5 Flagsl¥p Programme undei AfTtsn L¥￿erS of ryomise are selecled to attend a 3 month PTl¥Jtarnme and to woth with 5px)rBoring legal ir) ttE UK In the afternath ofts Govi(>19 ￿￿￿C ILFA resumed ils Flagship ProgTamme in 2023, held three Leg81 Excellence A￿tery {°LEA'} cwrses in 8 d&yilal fomiat and an 8nnua dinner. Future Plans The TTUStees VAII confinue to aclieve the Stat￿ obie¢bves by tKovi(thrKJ an annual &Sucational programme: and rélated activrfies. Buikling on the popularity of its Legal Excelence Academy ILFA 15 planning to hdd fwo LEA COUTses irs 2024. wilh tho cooperab.on the NatFo)al Bar Assowtiors. in EastAfrtca and We3t Africa with spon8orsFap arKI partiapaion of a mtxture of Ictal and lntwnatiffiall8wfim￿. Pthjlic Benefft Th8 trvst*s have complied with trer in 17 oflFE Chatltiès Act 201110 have due regard to the guidelines published lty the Charities Comrniswn. Flnancial review The accoLJnts for 2023 aré wesenled wittmn this report. Th2 tPJ5tees are a(fvisert, bytheli accountants that no audit is requiied Ills ye81. The trustees confim) Ihat Ihe aco)unls aml the rd8ttxI notes comply wlih cijrreni statuiory rffjuirements, req￿ren￿nts of ILFA'S CA)nstrtutKJn, and the requ¥ements ol the Statement DI Recorr¢rnended Practic8 applwN8 to cfrwrthes PlEparing their in 8cuJrdaneè with the Finawal Re￿Ing st¥￿3￿1 appficable in the UK arnl RepuNic of I￿land (FRS102) A$ at 30 November2023 ILFA bekl unrestricied ger￿] fiHk4s of£73,gJS12022 ". £67,PJ54). 11 held no unreslricled designated, Dr ￿tricted fvnds. Tr.e Board belie¥e5 the fina￿￿81 p(L8thon ranains staue and WTM continue tts mormtureosts eATefid￿ throLYJh(#Jt Ihis dtffuill gcononmc pèrTrod. Ft is the polry of Ihe 8o*tJ that unrèstrfcted fut￿$ have not ¢Je5ign*ed for a specrfic use shouky be maintsined at a level wuivaleni io be￿een thJEe- and six-mMth's expendttUFe. The itustees ¢on51derthat Teserves at this18vel wli l ￿S￿re that. in the event of a s￿nificant drop in fundinu, they will be atAe to conlinue ILFA'S cunEnl acb"vilie5 wkn.le consKleratron is gi¥en to ways in additional funds may The trust86$ h8¥e assessed the major rtsks to ILFA is exF#)sed and are $8tisfipAI that systems are In place Io msbgate exp)sure to the major risk5. Thè tTUStee5' pproved by T￿￿1￿ and s1¥t￿l on b8halFclthe frustee5 by How Barrie Dated.. 24 Jtty 2￿24 ILFA A COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2023 The trustees: who are also the direGlot5 of ILFA. are responsible for preparing the Trustees, Report and the financial statements in accordance wrth applicablÈ law and Unrted Kingdom Accounts"ng Standards IUn1ted Kingdom Generally Accepted Accounting Practtcel. The law applicable lo charities in England and Wale5 requires the tnJstees to prepare )Inan¢ial statements for each financial year which give a true and fail view of the state of affairs of ILFA and of the incoming resources and application of resources for that year. In preparing these accounts, the tTUStees are iequiied to". select suitable accourrting policies and then appty them consistently. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent.. state whether 3pplic3ble accouniing standards have been followed, subject to any material departures disdosed and explained in the a¢counts". and prepare the accounts on the going concem basis unless it is inappropriate to presume that thè charity will conb.nue in operab"on. The triJ5tees 3re responsible for keeping sufficient ar£ounting ¥ecofds Ihat disclose wrth reasonable accuracy at any time the financial position of ILFA and enable them to ensure that the acctsunls comply with the Gompanies Act 2006. They are also responsible for safeguarding the assets of ILFA and hence for takin9 reasonable steps for the prevention and detection of fraud and other irwulatilies. ILFA A COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ILFA I report to the trustees on my examination of the financial statèments of ILFA (the chafily} for the year ended 30 November 2023. Responsibilities and basis of report As the trustees of the chanty land also its dsrectors for the purpose5 of company lawl you are responsible for the preparation of thè financial ststements in accordance with the requiTements ttf the Companies Act 2006 {the 2006 Act}. Having satisfièd mysèlf th31 the financial staternenls olthe charity are not fequiTed to be audrted under Part 16 of the 2006 Act and are eligible for independent examination. I report In respect of my examination of the charity's financial ststements carried out under seth'on 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have IDllowe(l all the applicable Directions given by the Charity Commission undef secb.on 145{5llbl of the 2011 Act. Indopendent examingrfs statement I have completed my examination I confirm that no matters have come to my atteniion in connection wth the examination giving me cause to believe that in any material respect. >ccounling records were not kept in ¥e5pect of the charity as required by sedion 386 of the 2006 Act". or the financial statements do not accord Trmth those records., or the financial statemerrts do not comply with the accounting requirements of Section 396 of Ihe 2006 Act other than any requirement that the accounts give a true and fair view which is not 3 matter considered as part of an independent examination. or the finanGial statement5 have nol been prepared in accordance with the methods ancl principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their acCou￿t5 In accordance wlh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021. I have no concerns and have come across no other matters in Connection wth th¢ examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. FCA Member of the Institute ol Chartered AGcountanls in England and Wales Jacob Charles & Co Sentinel House. Sentinel Square London NW4 2EP Dated.. 24 Juty 2024 ILFA A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2023 Unre5trict•d nds Rgstricted funds Totrl 2023 Totsl 2022 Notes Income from= Subscriptions Members, Contributions LEA Events Grants Donations Gala dinner Other income 23,7LK) 42.350 12.001 23.700 42.350 12.001 32.100 40,600 18.983 7,650 8,000 7.650 8.000 14,900 Total income 93.701 93,701 106,583 Direel event CC•sIs 137,4941 {37.4941 143,2251 Charitable activities (50.0981 150.0981 145.1601 Total resources expended {87.5921 187.592) 188.3851 Net incoming resoiirces 6,109 6.109 18,198 Other recognl$ed gains ar￿ lossÈs Interest received 142 142 Net movèmènt In funds Taxation 6.251 6.251 18,207 6.251 67,654 6,251 67.654 18,207 49.447 Fund balance 1 Decembef 2022 Fund balance 30 November 2023 73,905 73.905 67,654 The statement of ftnancial activ(b'es includes all gains and losses recognised in the year. All incDme and expendilufe denve from continuing acknvikn"es_ The slalemenl of finanoal activities also complies wrth the requ1￿MentS lor an income and expenditure account undar The Companies Act 2006. ILFA A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT30 NOVEMBER 2023 2023 2022 Notes Fixed assets Investment in subsidiary 10 Current assets Debtors Cash at bank and in hand 5.560 84,653 13.102 76.392 90.213 89,494 Creditors.. amounts falling dije within one year 12 116.3091 {21.8401 Nel Current assets 73,9C14 67,654 Total assets less Current liabi5ities 73.905 67,654 Income funds Restricted funds Unrestricted fLEnds Designated funds General unrestricted funds 73.905 67,654 73,905 67,654 73,905 67,654 The company is entitled to exemption trom the audrt requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023. The dirÈ¢tors acknDwledge their responsibilities for ensunng that the chanty keeps accounb.ng records ￿1¢h comply wilh s￿￿On 386 of the Act and for preparing financial ststements whbch give a true and fair view of the state of affairs of the COFnpany a5 at the end of the financial year and of rts incoming resources and applicats'on Df resources, including Ils income and expenditure. for the finanGial year in accordance with the reqU4￿mentS of sections 394 and 395 and which otherwise comply bwth the requiremenls of the Companies Act 2006 relatirkg to finart¢ial stalements. w far a$ applicable to the company. The members have not requiréd the company to obtain an audit of its financial statements for the year in question in accordan￿ wlh seclion 476. These financial $18temenls have been prepared in accordance wilh the provisions appli¢able to companie5 subject lo the small cL)mpanies regime. ILFA A COMPANY LIMITED BY GUARANTEE BALANCE SHEEr AS A r 30 NOVEMBER 2023 The fin￿￿01 st8tsrnerts wwe approved by Ihe Tfttstees 24 Juty X)24 Slgned by Howard 8arrie on bahalf OF tha Trustees ComDanv Reosstration nthnLw. 0908WO ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 recoverable In relation lo donats.ons ￿ceIVed under Gfft Aid or deeds of covenant 15 recognised at the b.me of the donation. Accounting policies Icontlnugdl Tumover represents the v8lue of Invo￿1 sales. Grant5 and donation5 are reGognised for accounting purposes upon receipt. Resour¢es expended Charitable expendrture comprises all expendrture diredy rdating lo the objective5 of Ihe administration cost of operating the Charity- Govemance Costs indude audit costs, and legal advice for the trustees and any other costs associated with conslitulion81 and statutory requirements. Support costs- the amounts disdosed under each of the above categories Comprise trose costg which a￿ directty attributablÈ to thal category together wlh an apportionment of support costs. Support cost5 are those costs thal are not direGlly attributable lo a single aGlivity but provide the necessary cirganisal'onal support for all the charity's activities. The support costs have been allocated lo the Gharity's acb"vilies to wh￿h Ihey relate. ConsolTrdation ILFA is a parent company subjed to the small companies. regime. ILFA and ils substdiary ¢omprise a small group, and ILFA is therefore not required to and has chosen not to preparè group accounts. Cash and cash equivalents Cash and cash equivalents include cash hand. deposits held at call with banks. othe¥ short-terEn liquid investments wth original maturities of th￿e months or less. and bank overdrafts Bank overdiafts are shown within bt)rrtwngs in current liabilities. Finarscial instruments ILFA has elected to apply Ihe provisions of Sectr"on 11 'Basic Financial Instrumènts, and SeGlion 12 '0ther Financial Instrumen15 Issues, of FRS 102 to all of its financhil instruments. Financial instruments are recognised in ILFA'S balarice sheet when ILFA becomes party to the ¢ontractual prowisions of the instrument Firtan¢ial assèts and liabilrties a￿ offset. with the net amounts presented in the financial Statement5, when there is a legglly enIOr￿able right to Set off the recognised amcsunls and theo is an intention to settle on a net basis or to iealise the asset and sèile the liabilrty simuttaneously. ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 Basic financial assets 8asic ffnanual assets. vthich include debtors and cash and bank balan￿s. are initially measured at Iran5aclion pnGe Including transacbon costs and are sub5equentty carried at amortised cost Ljsing the èffecb've interest method unless the arrangement conskntutes a financing transaction, where the transaciaon is measured at the present value of the fvture re￿Ipts discounted at a market rate of interesL Finanual assets classified as feceivable ￿1n one year are noE amortised. Basic financial liabilities Basic financial liabilitres: induding creditors and bank loans are In￿allY recogni5ed al transaction price unless the arrangement conskn"tutes a finanGing transa¢lion, where the debl Instrument is meastjred al the present value of the fLrture payment5 discounted at a market rate of interest. Financial liabilib.es cla5sifjed as payable wrthin one year are not amorb"sed. Dèbt instruments are sUbseqUen￿Y carried at gmortised cost, using the effecb.ve interest rale metho Trade crediloTS gre obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable a￿ classified as current liabiltties if payment is due within one year or less. If not, they ale presenled as non 48.598 1,500 43,84Q 1,320 50,098 45.160 Analysi5 by fund Unrestricted funds- general Restricted lunrjs 50.098 50,098 Support costs Governance costs includes payments lo the independent accountsnt of £1,50012022- £1,320). Trustees None of the trustees {or any pe¥sons connected Trmth them) received any remuneration, benefits or reimbursement of expenses during the year. Employees Numbèr of employeos The company has no employees12022- Nil) ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 30 NOVEMBER 2023 10 Investment The Company own# 10 Ordinary $hareÈ of £0.01 each in ILFA LÈaming & Dovelopment Limited. representing 100% of that company's issuèd share capital. The pnncigal activity of the subsidiary Gompany is The development for resale of legal professional training programrnes in a digilal format. Fo¥ the year ended 30 November 2023 ILFA Leaming and Development Limited made a profit after taxabon of £NIl 12022 ' £Nil}. 11 Debtors 2023 2022 Amounts falling due wlthln ￿ar. Trade debtors Amount due to subsidiary Prepayments 5,050 4,7S7 8,315 510 5.560 13,102 12 CrèditOTS.' amounts falling due within one year 2023 2022 Trade creditors Sundry creditOf5 and acctuals 13.896 2.413 18.000 3,840 16.309 21,840 13 Contingent liabilities There were no related contingent liabilrties that requi￿ disclosure, during the year {2022- nonel- 14. Events after the raporting date The Trustees remain vigilant and maintain their reasonable expectation that the Charity has adequate resources to conbnue in operation for the foreseeable future frown the date od approval of these financial statements. 15 Related party transactions The Company paid manayement fees of É8,2921 {2022 £Nill to ILFA Le8ming and Development Limited. 13-