HE IFAIIP
ROU
NE
ENTF
ND
ANNUAL TRUSTEE REPORT
AND INDEPENDENTLY REVIEWED ACCOUNTS
FOR THE YEAR ENDING 31ST March 2025
IPACT7011
Benevolent
Fund.

Trustee5 annual report and flnancial statements for the period of 16 February 2023 - 31
March 2025
Contents
Page:
Reference and administrative details
Report of the trustees
Statement of trustees, responsibilities
Report of the independent examiner
Statement of financial activities
Balance sheet
9-12
Notes forming part of the financial statements

The IFA
IPA Grou
Benevolent Fund
Reference and Adminlstrative Details
Forthe Year Ended 31, March 2025
Trustees:
lan Clark
Anjana Hirani
Lloyd Dri5coII
Tony Rabah
David Whitaker
Nola Luyten
appointed 16.02.2023
appointed 16.02.2023
appointed 24.07.2023
appointed 24.07.2023
appointed 29.04.2024
appointed 27.01.2025
Princi
al Address..
Unitec House
2 Albert Place
London N3 IQB
Re
istered Charit Number.. 1202088
Inde
endent Examiner-.
Lawrences
61 Benskin fload
Watford
W018 OHN
Bankers..
Metro Bank
I Southampton Row
London WCIB SHA

The IFA
IPA Grou
Benevolent Fund
Report of the trustees for the year ended 31 March 2025
The IFA/IPA Benevolent fund was established on the 16th February 2023 and the trustees are pleased
to present their inaugural report together with the independently examined accounts for the period
ended 31" March 2024.
The Charity was established to provide the prevention or relief of poverty for its beneficiaries and the
advancernent of education for IFAIIPA students seeking to study accountancy. The objects are
achieved in particular, but not exclusively, by the provision of grants, scholarships and bursaries.
Structure, Governance and Management
The Charity is governed in line with its constitution which clearly sets out the responsibilities of
trustees and the way in which the charity conducts rts operakn'ons. This is supported by more detailed
policies where required e.g. Grant Making Policy.
The Charity is funded by its member donation5. It also has a ring-fenced pot of money exclusively for
existing and former IFA members and their dependents. This money was donated from the former
IFAIIAB Benevolent Fund Ireg number 2340821 and has its own conditions for use.
Trustees are recruited from the key beneficiary groups and selected on the valuè they can bring to the
Charity and its members. Trustee appointments are approved by the existing Trustees who act in
accordance with the constr'tutr'on. All Trustees ￿Sign at the first AGM and seek re-election and then
serve a defined term as per the consb'tution.
The Trustees give their time for free and there are no permanent employees. A freelance Fund
Manager supports the development and day to day activities of the Charity.
Public Benefit..
The Tru5tee5 have considered the Charity Commission's guidance on public benefit, and charity law
and believe the Chairty meets the ￿qUIreMentS of benefiting the public and the prevention or relief
of povertv.
The Charlty predominately asslsts through financial support in the form of grants aiming to enable
people to overcome present difficulties and bridging the gap between income and expenditure. All
applicants are also signposted to consider other help available e.g. relevant state benefits.
Objectives and Activities:
The objectives of the charity are to prevent and offer relief from poverty for its beneficiarie5 primarily
through the provision of grants. When the fund is able to generate new funds the objective is to also
5UPPOrt those wishing to gain professional qualifications in the accountancy profession thr(>ugh the
provision of bursaries and scholarstriips. The key focus of the Chairty is raising awareness of the support
available and raising funds to enable it to meet its Dbjective5.

The IFA
IPA Grou
Benevolent Fund
Achievements and performance..
Outline(J below are the key objectives and performance against them for year one of the charitv.
No.
Activity
Investigate and implement an
appropriate CRM to help manage
memberldonor donations and
communication
Find and implement a mailin8
system that enables the best value
for money in member
communications
Identify the p055ible benefits and
risks of moving from a CIO
Association model to è CIO
Foundation model and take the
appropriate next steps
Increase the ntjmber of people
Completing the process seeking
support and the number of awards
made whilst upholding rigour in the
process to ensure funds are
appropriately used
Improve the website to better
reflect those we are helping and
generate rnore interest in the fund
and the application for support
process
Increase donations over those
received in 23-24
Output
CRM secured in February 2025
and now fully operational
Deadline
March 2025
Free mailing system in plate and
fully operational for up to 2,500
membersldonors before moving
paid model
Move completed in May 2025
following a member
consultation and general
meeting.
March 2025
Dependent
on findings.
Completed
May 2025
March 2025
Claims and awards have both
risen in 24-25 as has awareness
of the fund and the number of
memberldonors
Website updated and
testimonials added. New
support process implemented.
Ongoing
Donatlons received f¥om 36
people in 23-24 to 1.700 in 24-
25
Changes being made all the time
to ensure Charity Is offering best
value
OnBoing
Ensure fi'nancial and operational
processes are lit for purpose and
Optimal for a charity of this size
balancing the needs of those
applying wtth rigour and cost base.
Increase the number of completed
applications for support
Ongoing
Work underway to further raise
awareness and improve
processes to encourage people
to come forward
Ongoing
We would like to thank the IPA Group for their ongoing support in raising awareness and
understanding around the Benevolent Fund and in providing both speaking opportunities and pre5S
opportunities to SUPPOrt the fund.
Priorities for 2025-26
With all internal processes and systems now in place the focus for 25-26 rs further increasing the
understanding and profile of the fund to attract both donation5 and elaims from those who need
support. A whole programme of activity will be planned both in the UK and Australia to enstjre thosè
eligible for support are aware and those wishing to support their fellow professionals know how and

The IFA
IPA Grou
Benevolent Fund
where to donate. Ongoing attention will be paid to sharing testimonials from those who have
benefitted from the fund and improving the web51te to be more engaging and a 50urce of value.
Further effort will be given to seeking support from Corporate Partner5 who wish to show their
commitment to the profession and who can support us in achieving our aims.
We will continue to work with IPA Group to bring maximum value to their members who suffer
financial hardship.
Fundraising Activi￿eS
Our fundraising efforts have shown a Significant increase in donations during 23-24 and have been
very focussed on the group who are also the key beneficiaries. This will be expanded during 24-25 to
cover former members of the IPA Group, corporate organisations and a wider group who may have
an interest in the accountancy profession. No professional fundraising organisations have been
contrarted to date, and it is unlikely we will do $0 in 25-26.
Financial r￿l¢W..
In the Fthn3ncial Year the Charity received £34,368 in unrestricted donations12024 £801, £15,454 in
interest on our investments12024 £2.3001 and incurred £21,656 in running c05t512024 £23,900). At
the balance sheet date the charity has £376,633 of reserve$12024 £348,468) of which £361,078 was
in the restricted fund. and £15.555 in the unrestricted.
Reserve5 Policy..
Unrestricted Fund: After Initial set-up costs, Ihe charity will aim to spend no more that 75% of donated
funds in grants and admin costs to build a buffer for future years and build some reserves.
Restricted fund: This will be managed in accordance with the trust deed, and only be available to IFA
members and not be used for educational grants
Trustee Remuneration..
In line with our constitution trustees receive no remuneration for the time they comrnit to the Charitv.
Trustee Expenses..
Trustees can claim for directly ineurred expenses in their work as a trustee on behalf of the Charitv.
but these are extremely low with very limited claims made. We have very clear guidelines around
purchasing decision5 and conflicts of interest all of which to have been fully adhered to.
Volunteers Policy-
All the trustees are volunteers, but no other volunteers currently support the charity in its work. Should
this happen in the future a clear policy will be created around volunteer engagement.

The IFA
IPA Grou
Benevolent Fund
Report of the trustees for the period ended 31 March 2025 (continued)
Statement of Trustees, responsibility
The Trustees are re5pon5ible for preparing the Trustees, Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England & Wales 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 charity
and of the incoming resources and application of resources of the charity for that period. In preparing
these financial statements, the trustees are required to-
Selett suitable accounting policies and then apply them consistently;
Observe the methods and principles In the Charities SORP-
Make judgements and estimates that are reasonable and prudent,.
State whether applicable accounting standards have been followed, subject to any material
departure5 disclosed and explained in the financial statements,.
Prepare the financial statements on the going concern basis unless it Is Inappropriate to
presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial
statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008
and the provisions of the trust deed. They are a150 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 Trustee5 confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to
have due regard to the pijblic benefit guidance published by the Charity Commission in determining
the activities undertaken by the charity.
Signed on behalf of the irustees by-
lan Clark, Trustee
Anjana Hirani, Trustee
8, December 2025
8, December 2025

The IFA
IPA Grou
Benevolent Fund
Independent examinerfs report to the trustees of The IFAIIPA Benevolent Group Fund
I report on the accounts of the charity for year ending 31 March 2025, which are set out on pages 7 to
12.
Respective responsibilities of trustees and examlner
As the charity's trustees you are responsible for the preparation of the accounts.. you consider that
the audit requirement of section 144121 of the Charities Act 2014 (the Act) does not apply and that an
independent examination is needed.
It is my responsibiif(y to..
examine the accounts lunder section 145 of the A¢tl-
to follow the procedures specified in the General Directions gtven by the Charity
Commissioners under section 14515llbl of the Act and;
to state whether particular matters have come to my attention.
Basis of independent examinerfs report
My examination was carrled out in accordance with the General Directions given by the Charity
Commissioners. 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 explanation5 from you as trustee5
concerning any such matters. The procedures undertaken do not provide 311 the evidence that would
be required in an audit and consequently I do not express an audit opinKJn on the view 8iven by the
accounts.
Independent examinerfs statement
In connection with my examination, no matter has come to my attention..
111 which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with Section 130 of the Act,. and
to prepare acctsunts which accord with the accounting records and comply with the
accounting requirements of the Act,.
have not been met,. or
121 to which, in my opinion, attention should be drawn in order to enable a proper underst3ndinE of
the accounts to be reached.
0811212025
Nicholas Lawrence. ACA
618enskin Road, Watford
WD18 OHN

The IFA
IPA Grou
Benevolent Fund
Statement of financial activlties for the period ended 31 March 2025
2025
Unrestricted
Funds
2025
Restricted
Fund5
2025
Total
Funds
2024
Total
Funds
Note
Income from:
Donations
Investments
34,368
1,545
34,368
15,453
370,000
2,388
13.908
Total
35.913
13.908
49.821
372.468
Expenditure on..
Raising funds
Charitable activities
798
7,838
799
12,221
1.597
20,059
8,055
15,945
Total
8.636
13,020
21,656
24,000
Net in¢ome/lexpenditurel
and net movement in
funds for the year
27,277
888
28,165
348.468
Reconciliation of funds
Total funds brought
forward
111,7221
360,190
348,468
Total funds carried
forward
15,555
361,078
376.633
348.468

The IFA
IPA Grou
Benevolent Fund
Balance sheet at 31 March 2025
Notes
2025
2024
Fixed assets
Tangible assets
654
879
Currènt assets
Cash at bank and in hand
Current asset investments
Debtors
379,491
120,448
250.000
19,255
Total current assets
398,746
370.448
Liabilities
Creditors.. Amounts falling due within
one year
1,793
1,885
Net current assets
396,953
368,563
Creditors.. Amounts falling due after more
than one year
20.974
20,974
Total net assets
376.633
348,468
Funds of the charity
Unrestricted funds
Restricted funds
15,555
361.078
111.7221
360.190
Total funds of the Charity
376,633
348,468
The accounts and balance sheet were approved by the trustees on the 8. December 2025.
Authorised to sign on their behalf..
lan Clark. Trustee
Anjana Hirani, Tiustee

The IFA
IPA Grou
Benevolent Fund
Notes to the financial statements forthe year ending 31 March 2025
I. ACCOUNTING POLICIES
General Information
The IFAIIPA Benevolent Group Fund is a charitable incorporated organisation Icharlty Reg. No.
12020881 with its registered office at Unitec House, 2 Albert Place, London, N3 IQB.
Comparative figures are for the first financial statements prepared by the charity and tover a
period greater than twelve months, from the charity'5 registration on 16 February 2023 to the
end of the first financial year on 31 March 2024.
Accountin8 Convention
The financial statements have been prepared in accordance with Accounting and Reporting by
Chaflties.. Statement of Recommended Practice applicable to charilies preparing their financial
statement5 in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland IFRS 1021 leffective l January 20191- (Charities SORP IFRS 10211.
Incoming resources
All incom ing resources a￿ included in the Statement of Financial Activities when the charity is
legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accout)ted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Where costs cannot bè directly attributed to particular
headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimaled useful life.
Computer equipment
25% straight line
Current assèt investments
Current asset investments represent Cash held on deposit with a maturity date greater than three
months and less than twelve month5 from the end of the reporting period. Deposits are basic
financial instruments and initially measured at transaction price including transaction cost5 and
are subsequently carried at amortised cost using the effective interest method unle55 the
arrangement constitutes a financing transaction, where the financial asset is measured at the
present value of the future receipts discounted at a market rate of interest.
Taxation
The charity is exempt from tax on its charitable activlties.
Fund accountln8
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of
the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when Specified by the donor or when funds are raised for particular
restricted purposes.

The IFA
IPA Grou
Benevolent Fund
Notes to the financial statements for the period ending 31 March 2025
INVESTMENT INCOME
2025
2025
Unrestricted Restricted
2025
Totsl
2024
Total
Deposit account interest
1,545
13,908
15,453
2.388
3a. ANALYSIS OF TOTAL EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2025
Grant5 made
to individuals
Depreciation
Support
costs
Other
costs
Totals
Raising funds
Supporting IFA/IPA
members and students
1,578
10,237
19
480
1,597
20.059
9,117
225
9.117
225
11,815
499
21,656
Expenditure on charitable activities was £20,05912024'. £15,945) of which £7.838 was unrestricted
12024.. £7.7731 and £12,221 was restritted12024.' £8,172).
ANALYSIS OFTOTAL EXPENDITURE FOR THE PERIOD ENDED 31 MARCH 2024
Depreciation
Support ¢osts
Other costs
Totals
Raising funds
Supporting IFAIIPA members
and students
8,052
15,322
8,055
15,945
19
605
19
23,374
608
23,400
3b. ANALYSIS OF SUPPORT COSTS FOR THE YEAR ENDED 31 MARCH 2025
IT
Govèrnan¢e
Administration
Totals
Raising funds
Supporting IFA/IPA members
and students
1.578
1,578
1,578
10,237
2,500
6.159
3,156
2,500
6,159
11,815
Included within governance costs are fees of £1,000 12024.. £1.(X)01 for the preparation and
independent examination of the financial statements.
10

The IFA
IPA Grou
Benevolent Fund
Notes to the financial statements for the period ending 31 March 2025
ANALYSIS OF SUPPORT COSTS FOR THE PERIOD ENDED 31 MARCH 2024
IT
Governance
Adminlstratlon
Totals
Raising funds
Supporting IFA/IPA members
and students
8.052
8,052
8,052
15,322
5,485
1.785
16,104
5,485
1.785
23,374
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits paid for the period ended 31 March
202512024.. Nill.
Trustees, expenses
No trustees received reimbursement of expenses. In the prior period one trustee received
reimbursement of £40 for the purchase of a gift in acknowledgment of a retiring trustee.
TANGIBLE FIXED ASs￿s
Computer Equipment
C05t
At l April 2024
Additions
At 31 March 2025
898
898
898
Depreciation
At l April 2024
Charge for ihe year
At 31 March 2025
19
225
244
Net book value
At 31 March 2025
At 31 March 2024
654
879

The IFA
IPA Grou
Benevolent Fund
Notes to the financlal statements for the period endlng 31 March 2025
CURRENT ASSET INVESTMENTS
2025
2024
Fixed term deposits
250,000
DEBTORS
2025
2024
Accrued income
19,255
CREDITORS
2025
2024
Falling due within one year:
Trade creditors
Accruals
Total
793
885
1.000
1,885
1,793
Falling due after more than one year:
Third party loan
Total
20,974
20,974
20.974
20,974
The third-party loan is repayable quarterly once a certain unrestricted income threshold has
been reached. No interest is payable on the loan.
12

The IFA
IPA Grou
Benevolent Fund
Notes to the flnanclal statements for the period ending 31 March 2025
MOVEMENT IN FUNDS FOR THE PERIOD ENDED 31 MARCH 2025
Balance
brought
forward
Income
Expenditure
Balance
carried
forward
Unrestri¢ted funds:
General funds
111,7221
35,913
18,6361
15,555
Restricted funds:
IFA Legacy Fund
Total fLFnds
360,190
348.468
13,908
113,0201
121,656}
361,078
376,633
49.821
IFA Legacy Fund- the funds are only to be used in accordance with the wishes of the donors
as laid down by the trust deed.
Unrestricted funds- are available to be spent for any of the purposes of the charity.
MOVEMENT IN FUNDS FOR THE PERIOD ENDED 31 MARCH 2024
Balance
brought
forward
Income
Expenditure
Balance
¢arried
forward
Unrestricted funds:
General funds
80
111,8021
111,7221
Restrirtéd fvnd5:
IFA Legacy Fund
Total fund5
372,388
372,468
112,1981
124,0001
360,190
348,468
13

The IFA
IPA Grou
Benevolent Fund
Notes to the financial Statements for the period ending 31 March 2025
10. ANALYSIS OF NET ASSEfs B ￿EEN FUNDS AS AT 31 MARCH 2025
VnrestrScted funds
Restrlcted lunds
Total funds
Fixed assets
654
654
Current assets
Creditors due within
one year
Creditors due after
more than one year
37,168
11,2931
361,578
15001
398,746
11,7931
120,9741
120,9741
15,555
361,078
376.633
ANALYSIS OF NET ASSETS BEfwEEN FUNDS AS AT 31 MARCH 2024
Unrestricted funds
Restrlcted fvnds
Total funds
Fixed a$5ets
879
879
Current assets
Creditors due within
one year
Creditors due after
more than one year
9,758
11,3851
360,690
15001
370,448
11,8851
120,9741
120,9741
111.7221
360,690
348.468
14