Charfty Reglstratlon No. 1170647 ILFA A COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
ILFA A COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Tru8tee3 Olufunke Ajayi Adekoya Howard Barrie Timothy Taylor David Ziyambi Daniel Mutisya Susan Craughan Silver Kayondo Charlty number 1170847 Company numb•r 09085440 Reglstered offlco First Floor, Sentinel House Sentinel Square London NW4 2EP Indopondont oxamlnar Jacky C Lax FCA Jacob Charles & Co Sents'nel House, Sentinel Squarn London NW4 2EP
ILFA A COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees, report Statement of Trustee¥, respon¥ibilitses Independent examlnerfs mport Statement of financial activities Balance sheet Note8 to the accounts 8-13
ILFA A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 The trustees pr&8ent their report and accounts for the year ended 30 November 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply viith ILFA'S constitution, the Companies Act 2006 and 'Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102). (effective from 1 January 2019) Structur•, gov•mance and managemont ILFA Is a company limited by Guarantee and 18 registered as a Charity. and on 27 September 2021 adopted New Articles of Assoclation that updated those adopted In D6c8mber 2015 when ILFA was first registered as a Charity. The trustees, who are also directors for the purwses of company law, 8erved during the year were.. Olufunke Adekoya Howard Barrie Timothy Taylor David Ziyambi Daniel Mutisya Susan Craughan Silver Kayondo (appolnted 28 November 2024) The governance of the Company 18 the re8ponsibility of the Board (the m6mberg of which are also the trustee8 of the charity), which is appointed by ILFA'S member8. The Board members serve a maximum period of three-year tenn before retiring at the next AGM. Each Board member is eligible to stsnd for re-election, once, thereby serving two consecutive three years temis, and for a thlrd temi subject to a Board Resolution approved by all the other directors. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The Board is respon8ible for the general control and management of ILFA. The Board meets regularly throughout the year. All significant operational decisions are made by the Board. Following appolntment, new Trustees each of wlK)m are for the time being qualified l•Myers, are introduced to their role and given access to the Memorandum & Artlcles of Association and a guide to the poliaes and procedures adopted by the company. Each of them are made aware of the Company's status as a registere(I charity and consequently the scope of their responsibilities under the Charities Act. ObJoctlv8s and actlvltles ILFA'S obledves are for the publlc benefit to facilitate the advancement of post-graduate level legal education and the study of law by individuals from the continent of Africa. The trustees have paid due regard to guldance issued by the Chanty CommisBion In declding which activitie8 the charity 8hould undertake. In common with many similar charities, ILFA is reliant on subscriptions and participatory support of many UK law fim8.
ILFA A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Achl•v•m•nts and pPIt Imth the involvement of its Programme Manager, Fats6ma Bejamin, ILFA provides educational services, including its Flagship Programme urKl8r which Afrirxn lawyers of prc*nlse are selectsd to att8nd 8 3 month pgramrne and to Work with sponsorlng legal fjtm8 in the UK. ILFA having rèsumed Its Flagshlp Programme (FP> In 2023 in the aftemath of the Covid-19 pandemic. held ther FP in 2024, two Legal Excellgnce Academy (°LEA°) CoUe$ one a dlgitsl fomat and tho othor Ilve, and an annual dinner. Futur• Plan• The Tru8t88s will continue to ach1 th8 ststsd ot¥edve6 by providirKJ an annual gducational programme. and re18ted actNities. Building on tho popularfty of Its Legal Excellence Academy ILFA is planning to hold at least one LEA course in 2025, wlth the o)operatton with the Nationd Bar A88OGiations, with sponsorship and partlrypaUon of a mixture of loc81 and international law fimi$. Publ1¢ B•neflt The tru8te86 have complled wSth thelr duty In 86Ctlon 17 of the Charitle8 Act 2011 to have due regard to th• guidalin88 publi8h8d by tho Chaiitses Commrs810n. Flnanclal r•vhw The accounts for 2024 are presented within this reporL The tru8te88 are advi8ed. by their 8ccountsnts that no audit is requlred thls ye8r. Tho truste88 confimi that th8 accounts and the r818t8d nots8 comply wlth current ststrjtory requirements, the requirements of ILFA'S ¢on8titution, and the requirements of the stat8m8nt of Recommended Pr8Ctlce appllcable to Charltfes prepartng thelr accounts in actordance with the Financial Reporb'ng Stsndard appllcable in the UK and RepubliG of Ireland (FRS102). A8 at 30 November 2024 ILFA held unrestricted general fund8 of £74,881 (2023 . £73,905). It hold no unr8th¢t8d deslgnated, or restrlctsd fvnds. The Board beli8ve$ finandal positlon remalns stsble and wlll continue to monitor costs carefully throughout this dlfficult economlc pedod. It Is the policy of the 808rd that unrestrlcted fvnds whith have not been de8ignatsd for 8 speofi¢ u8 should be maintained at a level equivalent to bet¥veen three- and six-month's expenditijrg. The trugtseg consider that r88erv08 at this levol wll •n8uro th8l In the event of a gnfficant drop In fundlng, they will be able to continu8 ILFA'S current activities while corr6ider8tion is given to Way8 In vthlch additi'on81 funds may be raisod. This level of merves has been m8intsined throughout the year. Th8 trusts08 have a88e$s the major r18ks to whlch ILFA18 exposed and are sattsfj8d that Systems are In place to mitigate exposure to the malor risks. The trust $, pOrt waB approvgd by the Tru8teg8 and signed on behalf ofthe Trustees by rd Barrte Dated. . August 25
ILFA A COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2024 The trustees, who are also the directors of ILFA, are responsible for preparing the Trustees, Report and the financial statements in accordance wrth applrAble law and United Kingdom Accounting Standards (United Kingdom Generally Aepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the State of affalrs of ILFA and of the In¢omlng resources and application of resources for that year. In preparing these accounts, the trustees are requlred to: select suitable accounting policies and then apply them consistently; obseNe the methods and principles in the Charitles SORP; make judgament8 and estimates that are reasonable and prudent; 8tate vh)eth6r applicable accounting stsndards have been followed, 8ubjeGt to any material departures dlsclosed and explained in the accounts,. and prepare the accounts on the going ¢oncem b8318 unless It is inapproprlate to presume that the charity will continue in operation. The truste08 are responsible for keeping suffiaent accounting records that disclose with re880nable accuracy at any time the financial position of ILFA and enable them to ensure that the accounts comply with the Companies Act 2006. They ar8 also responsible for safeguarding the assets of ILFA and hence for taking reasonable steps for the pvention and detection of fraud and other Irregularities.
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 statements of ILFA {the charity) for th8 year ended 30 November 2024. Responslbillties and basls of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in r8sp8ct of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In Carrying out my examination I have followed all the applicable Directions given by the Charity Commlsslon under sectlon 145(5)(b) of the 2011 Act. Indepondent examlnerfs ststsmont I have comp5eted my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believ8 that in any m8teri81 respect: accountin9 record8 were not kept in respect of the charity as required by section 388 of the 2006 Act; or the financial statements do not accord with those records. or the financial statements do not comply wlth the accounting requlrements of sectlon 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the financial statement8 have not been ppared in accordance with the methods and principles of the Statement of Recommended Pradice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republlc of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of Ihe financial statements to be reached. C). Member of the Institute of Chartered Ac¢ountants in England and Vlales Jacob Charles & Co Sentinel House, Sentinel Square London NW4 2EP
ILFA A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 Unrestrlcted funds Restrlctsd fund8 Total 2024 Total 2023 Income from.. Sub8CriPtions Members. Contributions LEA Events Grants Donation8 Gala dinner oth&r income 14,400 28,250 14,959 14,400 28,250 28,959 23,700 42,350 12,001 4,650 10.000 4,650 10,000 7,650 8,000 Total Incomo 72,259 72,259 93,701 ndltu Dlrect event costs (26,041) (26,041) (37,494) Charitable aGts'vrties (45,784) (45,784) (50,098) Totsl r•sourcM oxpendod 171,825) (71,825) (87,592) Not In¢omlng re8ource8 434 434 8,109 Oiher recognlsed galnj and 108sos Interest received 322 322 142 Net movement In funds Taxatlon 758 756 6,251 756 73.905 756 73,905 6,251 67.654 Fund balance 1 December 2023 Fund balance 30 November 2024 74,661 74,661 73.905 The statement of financial activitses indudes all gain8 and losses recognised in the year. All income and expenditure derive from continuing 8Gtivities. The stalement of financial activities also complie8 with Ihe requirements lor an income and expenditure account under The Companies Act 2006.
ILFA A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS A T 30 NOVEMBER 2024 2024 2023 Notes Fixed assets Investment in subsidiary 10 Current assets Debtors Cash at bank and In hand 13,750 65,870 5,560 84,653 79,620 90,213 Credrtors: amounts falling due within one year 12 {4,960} {18,309) Net current a&sets 74.660 73,9Q4 Totsl assets le88 current liabllltie8 74.661 73,905 Incorne funds Designated funds General unr8Stiicted funds 74,661 73,905 74.661 73,905 74,e61 73,905 The company is entitled to exemption from the audlt roquirement contained In section 477 of the Companies Act 2006, for the year ended 30 Novembèr 2024. The dlrectors 8cknowledg8 thelr r8sponslbllltl8s for ensurlng that the charlty k8eps accounting records ththlch cornply V•ith 8ection 386 of the Act and for preparing financial statements which give a true and fair view of the state of affalrs of the company as at the end of the financial year and of its incoming resources arKI application of resources, Indudlng Its Income and expendlture. for the ffnanclal year In accordance wlth the requirements of sections 394 and 395 and vthich otheryrfise Gomply with the requirements gf the Companie8 Act 2006 relating to financial statements, so far as appIlble to the company. The members have not required the company to obtain an audit of its financial statsments for the year in quests'on in accordance with section 476. These finandal statements have been prepared in accordance with the provisions applirAble to companles subject to the small companies regime,
ILFA A COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS A T30 NOVEMBER 2024 Tha financial ststements werg approved by the Trustees on August 2025 Slgnod by Howard Barrf• on bohalf of tho Trusts08 Company Roql8tratlon numb•r: 09085440
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Accountlng pollcle8 Charlty Inforniatlon ILFA constitutes a public benefft entity as defined by FRS 102. A¢¢ountlng convontlon The accounts have been prepared in accordance with ILFA'S governing document, the Charitie8 Act 2011 and 'Accountin9 and Reporting by Charities.. Statement of Ro¢ommended Prectice applicable to charities preparing their account8 in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland {FRS 102)" (effectlve 1 January 2019). ILFA is a Public Ben8fit Entity a8 defined by FRS102. ILFA ha8 taken advantage of the provlslons In the SORP for charities not to prepare a Statement of Cash Flow8. The accounts ar8 prepared In sterllng, whlch Is the funclional currency of ILFA. Monetary amounts In Ihe8e financial statements are rounded to the nearest £. The accounts have been prepared under the hlstorical cost conventlon. The principal acwunting policies adoptad are 8et out below. Golng concern At the timè of approvlng the accounts, the trustee8 have a reasonable expectation that ILFA has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt thg golng concern basis of accounts'ng in preparing the financlal statements. Charltsble fund8 Unrestricted funds are available for use at thé discretlon of the trustees in furtheranc8 of thelr charltable objects'ves unless the fund8 have been deslgnated for other purposes. Restrtcted funds are Subject to specffic condition$ by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. Designed fvnds comprtse unrestricted funds that have been set aside by the Trustees for pait¢ular purposes. The aim and use of each designed furKI is set out In the notes to the financial statements. 1A Incomlng resources Income is re¢ognisad when ILFA 18 legally entitled to it after any perfomance ¢onditi¢ns have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. other donations are r8cognised once ILFA has b88n notified of the donation, unless performance conditions requlre deferral of the amount. Income tax
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 recoverable in relation to donations received under Glli Aid or deeds of covenant is recognised at the time of the donation. Accountlng poll¢los l¢ontlnued) Tumover represents the value of invoiced sales. Grants and donations are recognised for accounting purposes upon receipt. Resources oxp•nded Charitsble expenditure comprise8 all expenditure dlrectly relatlng to the objéctives of the administration cost of oporating tha Charity. Govemance costs include audit costs, and leg818dvice for the tru8tee8 and any other costs associated with constitutional and statutory requirements. Support costs - the amounts disclosed under each of the above categori88 comprise th08e cost8 whlch are directly attrlbutable to that category together wlth an apportlonment of 8UPPOrt costs. Support Costs are those costs that are not direGtly attributable to a single activlty but provide the necessary organi8ational support for all the charity's actlvStSes. The support costs have been allxated to the charity'$ a¢tivitie8 to %thich they relate. Con•olldatlon ILFA 18 a parent company subject to the small companies, regime. ILFA and its subsidlary comprlse a small group, and ILFA 18 therefore not requlred io and ha8 chosen not to prepare group accounts. Cash and cash equlvalents Ca8h and cash equlvalents include cash In hand. d8po81ts held at call wth banks, other short-terni liquld Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wthin borrowings In current liabilities. Flnanclal In$trum•nts ILFA has elected to apply the provisions of Sectlon 11 '8aslc Flnancl81 Instruments, and Section 12 '0ther Flnancial Instruments18sues' of FRS 102 to all of Its finarKlal instruments. Financial instruments are recognised in ILFA'S balance sheet when ILFA b8com8S Party to the contradual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable rlght to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances. are Inltlalty measured at transaction price Induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement consb'tutes a finanang transaction, where the transaction is measured at the present value of the future receipts discounted at 8 market rate of Interest. Financial assets classified as receivable wthin one year are not amortised. Baslc flnanclal Ilabllltles Basic financlal Ilablllties, Indudlng credltorn and bank loans are Inltially recognlsed at transactSon prlce unless the arrangement constitutes a financlng tr8nsactlon, where the debt instrument18 me8gured at the present value of the future payments discounted at a market rate of Interest. Financlal liabllitles classified 88 payable wrythln one year are not amortised. Debt in8truments are subsequently carrled at amorti88d cost, using the effective interest rats method. Trada craditors arn obligatlon8 to pay for goods or services that have been acqulred In the ordinary course of operatlons from suppliers. Amounts payable are clas8ified as current liabilities rf 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 subsequenuy measured at amortised wst using tho effecVe Interest method. Der•¢ognltlon of flnanclal Ilabllltlos Financial liabilitles are derecognised when ILFA'S contractual obligatlons explre or are discharged or cancelled. Cash Flow Statement The charfty has taken advantage of the 8xemptlon 8V8llabl8 In paragraph 7.18 of FRS 102 and has not prepared a cash fl¢)w statement. Crltkal aGGountlng esllmatss and Judgements In the appllcation of ILFA'S accountlng policies, the trustees are requlred to make Judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estlmates and assoclated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may dlffer from Ihese estimates. The estimatos and underlying assumptionB are reviewed on an ongoing basis. Revisions to actt+unting ests'mates 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 curnt and futu periods. 10-
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 In¢omg Unrostrfcted funds Restrfctod fund8 Total 2024 Total 2023 Subscriptions r6c8ived M8mbers' contributson8 LEA - events Gala dlnner receipts Miscellan80us inrne 14,400 28,250 14.959 4,650 10,000 14,400 28,250 14,959 4,650 10.000 23.700 42,350 12,001 7.650 8,000 72.259 93,701 Inve8tmont In¢omo Unr•8trlctsd fund• R••trlctod lund8 Total 2024 Total 2023 Intsre8t recoivabl8 322 322 142 Dlroct GO8ts 2024 2023 Event C08ts LEA costs Gala dinner costs 19.857 2,724 3.460 29,334 4,264 3,896 26,041 37,494
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Charltabl• aetfvitl88 2024 2023 Managèment costs Website deslgn and hosting Project manager fees Tel8phona Post, printing and stslonery Sundry expense8 Accountancy Provision for doubthil dèbts Lal and professlonal Bank Charges 8,292 1,912 36,276 1.405 309 122 1.500 907 39,600 1,620 27 325 2,100 929 276 282 45,784 50,098 Share of support cnsts Share of govemance G08ts (8ee note 7) 43,684 2.100 48,598 1.500 45.784 Analysls by fund Unrestrictod lunds - general Restrlcted hJnd8 45.784 Support co•ts Govemance costs IrKludes provisSon8 for the fe8s of the indep8ndent accountsnt of £2.100 (202& £1.500). Trusts•s Non8 of the trustees (or any persons connectad with th6m) received any remuneration. benefits or r8imbursement of expenses durlng the year. Employ008 Numbgr of employeos The company has employees (2023- NII) 12-
ILFA A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 10 Investsnent The Company owns 10 Ordinary shares of £0.01 each in ILFA Leaming & Development Llmited, representing 1 OOOA of that company's issued share capital. The principal activity of the subsidiary company Is The development for resale of legal professional training pro9rammes in a digltal fomiat. For the year ended 30 Novemb8r 2023 ILFA Leaming and Development LSmited made profit after taxaiion of £Nil (2022 . £Nil). 11 Dèbtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Amount due to 8ub8ldlary Prepayments 12,500 5.050 510 5,580 12 Crndltorn: amounts falllng due wlthln one yo•r 2024 2023 Trade creditors Sundry creditors and acerua13 3.480 13,898 4,980 13 Contlngont Ilabllltle8 There were no related contingent liabilities that requ[ dl8dosure. durlng the year (2023- none). 14. Events after the reportlng dat• The Trustees remain vigilant and maintain their reasonable expectation that the Charlty has adequate resources to contlnue In operatlon for the foreseeable future from the date od approval of these financial ststements. 15 Rolatad party transactlons The Company paid management fees of £Nil (2023 . £8,292) to ILFA Learning and Development Limited. 13-