INSTITUTE OF FAMILY THERAPY IA eompany limlted by guarantee and nol having a Share capital) Financial Statements For the year ended 31 August 2023 Company Nurnb8r- 1621020 Charfty Number.. 284858 1610212024 CCWAPANIES HCAJSE 276
INSTITUTE OF FAMILY THERAPY Twstees. Report For the yearended 31st August 2023 Page Twslees. Ret 110 10 Audilorfs Rewt 11 to14 Statwnent of Fina181 Actrwt 15 Balanc8 Sheet 16 Statwnent of Cash Flowa 17 Noles to the ACnts 18to31
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 Company Nurnbgr. 1621020 Charity Numtser. 284858 R•gistered Office: 14 Great Tower Street London EC3R SAA Trustees Cath Connolly Iresigned 19110120231 Philip th¢k Ajastsir Pearson Klarc Raven (resigned 11107r20231 Graham Stedrnall IreswJned 27103r20231 Kathleen Waters kur r?UPt?1opw.intwJ 01101120231 Philip Meswt lappinted 09110r20231 Auditors". Price Bailey LLP 24 Cxd Bond Street Lcrton W1S4AP Direet¢rs'. Rachel Watsc Sumrta Dutta Taw Afuape Solicitors= IAi11s & Ree I St James C(yJrt Whrtefna NoM¢h NR31RU P89e'. 1
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Or9anlsational Structure The Institute's govemry document is the"Memorandum and New AtclÈS ol Assouation of the Institut8 of FarniIyTherap dated 22nd January 2015. The Board consists of trustees are also directors of the Company. The Board of Tmstees eA)nvenes Ihree sub-committees. one ofwhich, the Financ8 and G8neral Purposes Committee, has ddegaied authority ¢0 make decisions ¢)n behaw ofthe Board. The Is also an Ethic5 Sub-committee and a Pdicy-suornmlttee re)rt to Ihe full Board. Terrns ol reference are set by the Board for Ihe fcllowng wrposes.. To set the strategic objectives ofthe charity. This is done with the ad¥e of the Director To set the parameters wthin the Diredor an¢J achieve Ihjse cljjectives le.g. the bu6Jet and pc4icy framework) To rnonir wogress and to tske au1( acwding The Board of Trttstees is not (x)r£Me vAlh the daWo4ay management of the charity. Ithich is deated to 1he DIreth an¢J Sen managwneni tea Risk Management and the 8oard of Trustees The trustees hav8 a duty to identify arKt r8vw Ihe risks to whith the charty is eyM)sed and to ensure appropriale controls are in place lo provide reasonable assurance aoain$t fraud and error_ To achieve this, the Board ofTnJstees has estslShed a risk regBtw that W risk5 and the planned aclk?n to miligale them. Idenried risks indude the folknwng.. As an organisation that prirnaritygenerates income from the prowsion of variou5 types of training aThJ family therapy related services, any circumstances or events that impire on IFT'S abilty to do $0. Inability to achieve all the required extemal approvals and acc¥editat¥ts so that IFT can Ccnlinue to deliver its cfjurses and trainiw. Inabilty to attracl and retsin the apwopnate numbers of staff and tutors of sufficient quality effectivelyto manage the organisation and deliver its tr8iniro and course& Failure lo resp)nd to Ihe chan9iTrJ needs of Ihe sotsety rt serves. foT example calls for Inased diversity in its course5. CPO and slaffing, leadi to fepufational irnpad and reduced rekvance of IF[ within the society r( seeks to serve. Lack of sufficient intemal and extemal controls, oversight and challenge to ensure Ihat IFT maintains robust financial, academic antj operats.onal stsThJards to meet be51 wacts"ce. The Ethics SutFCommillee and Ihe Finan and General Purposes SulFCommfftee iewrt to the Board of Trustees. Each sub-committee indudes up lo 3 Board menknrs and either the DireGtor of IFT or the Director of Operations, or Lead for Strategy and Finance. Page.. 2
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 The Finance and General Pwposes Sutrtrcommittee is chawed by one of the Trustees. This monilors and reviews the financial perfomiance of IFf. Dwing 2022-23 the conlA)ued focus was on ensuring the finanual st8bilty of the organis8Don. The Finanr£ and Gener81 Pvrw)ses suClMittee h8s delegated powers an reports deosions lo Ihe Board of Truses at rts regular meets"ngs. The w1Y framework of IFT is rewiewed and meets current legislative requirements. Where 8tterdtion5 hav& been required tn policy. the Dtre¢tors have ertgaged an expert in the to en$ tral the organisatton meets st8lutory and human resources stsndaids. This has been the case for HR slandards in 2022123. e EthiGS SUtcOmmee reviews any ethical dlemmas that have emerged erther through complaints 01 practice issues in ielabon to the deliveryof Se$. As a member ofthe Comklainfs Pro¢esse5 oflhe United Kingdom for P$5rhotherapy ILIKCPI, many of the rKa¢tic£ complaints are heard In Ihal contexi. Where there are complaints that do not fall into thai category, IF[ have robust wAiaÈs Ihat apply Isuch a$ IFT Student complaint5 policy and procedu. IFfs ComF4ainls policy and pr(tedU and IFfs Filne5S to StjY and ritness lo pra¢'se polic and predureS and the Eth$ SUtcOMm[11ee wwld be a¢bvely inVoed in Further delails on the main risks io the charity can be seen underthe FutUTe Plans and Chalknges Secti of this report. Health and Salety IFT monitors health and safety issues Wwough reKM)rthNJ d any wdent in an Acodenl Lo9. The Ac£ident Log cords the fc41owTng Informatic." details of the person hawng the acudenl, detals of the person CoMe"n9 the report, details of the accident and %that happened as a result and a note of anyf01 up action that tn¥Jht be required. There were no reIe{l ac(idents 2022r23. Remuneratlon Policy Each Aprd the Board of Trustees reviews the remUrratIOTr pjhcy a view to bringing key mana9ernent and staff salaries in line the felevani benchmark_ By this date. the mW"nt of the financial year will have been reached and It will be clearwhethef Ihere is the kw)ssibilty of awarding any increases. The benchmark lor Dtrectorate staff is the NHS AgeThJa for change salary scae and. fLwthe administrative staff. an artnLMI Su¢cession planrting lor the Board of Tru51ees It has be very usefrA to the tKord to have a steady membership wth diverse skill sets SI January 2020. Board membership will evc4ve over time and whilst we ale sad 10 see the depwbjre of both Marc Raven and Graham Stedrnan as truslees dur the ar for personal reasons, we are delt9hted that Philip Me5sent agreed to become a twstee. The ard recognises Ihe need for greater pa1pation from servir£ users. cfnts and stud2nts and currently is establishing a working partyto ensu appropriate papab"On ai all levels of Ihe organisation. The boar also recogni5es the need io rewew the sub-CAynrnitlees and theirftjnclions to ensvre appropriat8 UP to date and transparent govemance frameworks ihat are continty)usly under review and may ie exiemal expertise. Academic Partner We have decided 10 leave the partnershi) ith Ihe UnweNty of Bethordshire. The sivdents ujrrently registered are not effected and the unwersity and IFT wdl toJelher ensure Iheir rI)metion of the current courses In their entirety under a'lea¢h oui. agr8emenl. Page.. 3
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 OBJECTIVES AND ACTIVrnES Objediv¢s and aims The 0.ects of the charity set tyjt in the govemiThJ dornent are Ihe advancement of the srAence and skill of 18mily therapy aThJ systernath"¢ wa¢tice and related services". Ways of worlling. vigon. mission and purposes IFT Ways of Workin9 IFf ha5 developed ways of %w)rking and the slrayine'justte. Rela1nShIps. Hope. IhttPS."ifiri.cwg.ukMt- wayw1f-wwk1n. Under Justice, are the Cepts of ACti5m, Refiety and Cornpassion. 1 1. IFT recognise the impact of instilubonal forms of oppres5K¥), marginah"5ation arKJ Social disadvantsge on families and strive lo narne. conlTont and ChalTrge thern 2 2. We are conslantlystrivirfj to k)c at arKJ address short comings thwh cA)ntinually seeking, and acting on, feedback fr£ families, train8es. teathers and stalf 3 3. We insist kindness. indusion and respect for eath other. %%YLh respect to action. intention and language. in line th IFfs core values. We a )¢ afraid to admit our mistskes at)d make amends Under Relatlonshlps. are the Corept$ of Comrnunicalion. cdfabOrdn and Cornmun 1 We communicate th sensibvty. darity. and appreualK)n. anil value bLNkJiNJ posi¢Ne Telalionships. We Sirive to have equal e(kmmilmenl to both Ilening and speaking We vaue ¢x>working, ¢trpr(Udn and (laboratiVe w of Mxking, learniro and practhung, Ihat centralises the voices of the mosi marginalis 3 We strive to ueate a happy learnin9 C4)mmunity ¥there. dNerse 10rn5 of kn¢edge are respected and induda, we ask challengir¥J questions antl encwrage critical flectiOn and we move beyond comfort in der to grow mttrn and IndusiC." We know another world is possiPJe and we hope lo suppc4t peopk to Challenge the oppressNe and 1 drffi¢ull aspects of their fves using relationships as a resource We hope that famity Iherapy and systemic can transforrn people's relatK)nships ènd 2 ¢ircumslar¢¢es for the better We hope that an understandin9 01 how Opp$ impacts ¢wr lives and the devebprnent of indusive 3 and equitab relationships and in5ti1utions. becomes Comme place. Page.. 4
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 Vision. Misslon and Purpose With respect to prornob.ng ¢Jiversity. equity. indusKffi and equality within bbider socty. IFT has a VisK)n and Mis5ton statement Ihal highlights the l(Aloing". Forr8mltytheYrSYtmra¢le 10." . Supp(xt all people to thallenge the oppressive and diffiurm aspects of the(rlNes using taonShIpS as . Traasfom) people's relationships and circurnslances for Ihe better . Ensure that an Undeotalrrfd of how oppressk)n impacts our lives anL1 the tIevepMent of indusive Missio We s$e lo." . Oevew a diverse ccmmunity of peOe who a passwjnate abtyJl systemic iL1eas c8 . Use our a¢tive and inlernaltona cornrnunity to develop and deliver high quality. responsive and cultiThJ - Conlextualise k)eople'$ difficulbes. stren9then relalw5hws and promote a more just. equitable and IFTvHIws.' . Providing therapy for iThJividuals. couples and families. anty using sy3ternic Kseas to work wth larger - Pr(xnoting the $y51em approach as a worfd-wew, a set of practices, and a wayof addressing social Meaningful inclusKJn and diversity of people5, Ideas and intervenbons. thal acknvdy 5eek5 the views, . FindirvJ ¢ats"ve altematives to Ihe tradilional ways ol operats"ThJ Ihat are crffitilry to lail rMMUnitIes. Public bentfft The trustees confimi that Ihey have txffiplied with the duty in sectscfft 17 ot the Charities Act 2011 to have due gard for the Charity Cornrni5sion'5 general guidance public bener In shaimng ourobjectives for year planniryJ our acb¥Mties. the trustees have dered the Charity Commission's guidan on public benefit. indudin9 the guKJance'puLlic benefit". running a charity IP821'. The training portfolio with traditional d81ivery at IFT and agency-based training in home agencies continues to be successful aThY exteThJs the ach ofsystemic kleas into new wdesgonal CA)ntexts. MAIN ACHIEVEMENTS IN 2022-23 LeadÈrship Struthires and Operation5 IFT has developed an ethical shared leadership approath, whith has proved lo be cxeative. fruitfvl and generative and has enabled the DireCS 10 focus on keytasks. strategi5e and alig a¢tivitses IFfs rnission and CA)re values. After four years plus. Rachel Watson has formaly resigned as Ihe Oirector of IFT. Rachel has notonty steered IFT thiough the turbulence of the COMD-19 perij bLrt she has ma4Je $1gnfficanl and imporlaTr¢ changes that have transformed the organisation's infrastructure and govemance in line wrth our high standards, values and code of ethics. Her cwtion o( Ihe elhical sha leadership team has been indispensable to the CAJrrent heanh of the or91$8.C. Tawj Afuape and Surnila Dutta are now10haring as operational co-directors and they oversee the operational leadership of IFT befven Ihem and are the main point of conlact for those inside and outside of IFT. With Taw and Sumita as the front-faong Co-Directors of IFf, Rachel Watson and Nana Bonsu wll continue to supptyl them. and take on specific Project Lead roles (such as oveng the current Msc Cohort to concluston and supporting wth Lctal Authority ¢traS and Leadership training). Page.. 5
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 Staffing and New Appointments As part of the review, we have restructured staffing in all areas of our s8rwce5. inchjding est3t4ishing post5 Ihat can effectively n(ribUte to implementiThJ Ihe slrategic plan. IFT teaching staff continues to increase to accommodate the need5 01 up-t(ale and relevant saielliie trainirng cthtses and lultys and supervisors rnake up a teaffl of peoje who are more diverse than ever in b8ckground and expeiience. This enables students and families to èxperience teaching and therapeuti¢ k Imth a staff leam that represents them in more varied aspects ol professional eXpernCe, as as more %%wYe-rnnging xKial difference5 ng reflected in the stsff team. IFT hès suttessfulty recruited to the IdkThirvJ posts.. . A new reptronISI vtho also takes a lead in membetship setwees as as offeriNJ generic admin support 3 day5 a week . A Training and Opefational ad foi satdlile courses- 2 days a . A Chair foi the qualityng level murs8- 2 days a week . A Local Authority liaison managet- 1 day a week . An Audit, Business and FinarKe Manager- 3 days a week UKCP and IFfs Qualifying Level Msc Equivaknt eourse Fdlowng the UKCP reviewof IFT'S Quality'ng Level Msc Equivalent trairg cLr5e in May2023, was given a glowing rwew wth particular emphasis on.. . the high standard aTrY quality of c#Jr teachir . Very good student supwrt anij gxperience - our approachable and values driven Itadership . our equality, equity. inclusion and dNersity procedures and the way that emtrthy rAJr values in this area ' quality assurance ' innovations in how we are develotMThJ Jr trainiThJs in sy5temK trainw5. describing us as'settiThJ the bar high, and'foNKrd thinking. A5 8 res1 ofthi5 revsew IFf was abk to ¢wi appli110n5 for IFfs new Qualify'ng Level Msc Equivalent Course in November 2023. We recwved a goL¥J number orapi¢4nts aThJ ¢(dUcted interv*ws in Dècembor 2023 in view of a February 2024 stsrt. Page.. 6
INSTITUTE OF FAMILY THERAPY Trustees. Report Forthe year ended 31st August 2023 UKCP and IFf5 Qualtfying Le¥el MS¢ Equi¥alÈnt ¢OUW5e New Developments thin IFr New developrnent indud8'. . Year l onliFTe CertrfKale in Sy$lern PraclKe This innov81ive course, arJned io comrnitrnent to enable CesS to systemic ideas a5 wdely ss possible. will be laun¢beL1 some time in 2024. mirww IFfs in-house Year I courses and be deliVed entirely online. We wll be targeting Ihe cwrse at people who are unable to Iravel to London, to cc¥nrnunity LKganisations Surrting Multiply oppressed communities and lo our intematyon4 pwtners. . Wriling forPublication Course In order to support new an4Y ex(iDng Vol within the systemic fiekj. that can help to propel the profession fowdrd towards promoting the cLYHJitions for susiainable systems thange, IFT has launched a new writing lor putrAication course wn by Glenda Fredrnan Phillip Messent. Thai 11 run for4 weeks over a 3 monih peri¢A starting at the be9inning of 2024. In a¢dthon to bng cwen to anyone. IFf studenls who perform 8xceplionalty in their viva and l or 118 exceptional dissertations 11 be given a place on Ihis course for free. as will IFT tutors. . IFTDAp10rn8 An Teaching In atydrtion to the vrri.ng fw wl¢abl cwrse. IFT has also L8vnched a dit4cma in thng for qualified Family and Systemic Psycholherapists and tuto who Wld like to develop Iheir ski115 in teaching. The diploma, lor tutors 8re te8ching 81 least 15 h(xJrJ on either the IFT In-house coursey or s8tellite trBining courses. The diploma is an OPKX)rtunityto have an experienced IFT lutor prowide some co-teaching. offer $truclured feedback a5 well as 3 indivwjual supwvisKN) sessins over the COU of a training prcrfJramme. Al the end of the teaching and diploma prograrnme. tLrtofs vrill get an IFT diploma cwtificate . CORA Rachel Watson and AsNey Reid were suc¢essful in vAnning a laige jtynt tefiderth CORAhl lo train family 5UPPOrt wrkerS in earty help settirvJs. As part of Ihis prryecL IFT have partnered wth Coram to train In 6 local authonty early help settings, and suPpcl recruitment and supervision of dinicians, as well as evaluate the efle¢liveness of family systemic inteThention in Ihis area. This the first large scale study to develop and evaluate a mcdel which ernbe(Js $ternIC pracbce in local famlty SUPFJrt 5ervice5. Membership We are CAJrrenlly in Ihe $KoC of rMagIni1¥j our mwmberslmp offer are IoDking to extend our membership categones to include trainees, friends and retire(J FYactilK)ners. AlowsKle our errisb"n9 benefits W8 hope io offer a series of soual action events as part of the membership. as well as access lo the Human Systems Jwmal. IFT have begun a fomial Olaborat wth the Human sleMs Joumal. to begin eady in 2024. Ovr mernbers (full, retiredlsyslemic Practi.0ner and friend ve1) VKII have access lo the journal 35 part of their membership. In addition. we are finalisiThJ the new membership structure lo indude a systemic practthoner level membership. as wdl as wlLe a retired pr8Ctilioner level membership and è friend's legory. Page-. 7
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 STAFF As of 31st Augusl 2023. ow team consisied ofthe fc4yknJ: Taiwo Afvape tsDired Sumit8 Dutta C4>DirecJor Rachel Watson C(kDireclor Joann8 Jack50rn Lewj for Quality, Cultwe & DevelLynenr Robyn Galk)way Senior Course Admintstrator Nishat Ahmed C(wrse Adminotrator Alice Craven Course Adrnini5trator Melody King COue Administrator Ashley Reid Finance & strategy Lead V¥1 Br8d B(K)k-keepef Gra Boaieng Office & Markebn9 Business Suk¥ FINANCIAL REVIEW Results and funding The statement of fanCial a¢liwlies forthe year is set page 17 of fvs ¢Jocument and Sh(Y an overall nel defiot for the year of £236.992 Compared kn a deficii of £84.999 f¢y the prevK)u5 year. IFT does not have any outstanding loans or finanung arrangements. Total cash reserves at the end of the financial year were £2S3.82512022.. £678.423I. Tolal net assets amount to £322.67012022.. £559.6621, which £271,122 are unrestricted funds12022." £508,1141 and £51.848 a resiricted fvnds12022." £51.5481. FundraisiThJ and amount8d lo £8(hS during 2022123. Thi8 crffipares 10 £15.636 in the previou5 year. In acknO89ernenI of the need to achieve finanual 5t151ainabilty in order to 8ddres5 the ever dwngng eeds of the MMunIties it seeks to serve. the reTrt past has been a peri¢yY of snIficAnt and necessary ¢bange for IFT. This has required tKld managemeni actions irtdudiThJ a tempxyary svspension and repositioning of sorne cOue$, reorganisation of the team, and necessary investmenl in Ihe or9anisab"on's infrastructure. This has involveij Lxjth a short-term reduction in s(xne in(x)me sourc£s and capital expenditurè. Whilsi Ihese Changes now mean IFT is much better K#)sth)ed to aclieve its objectives. il has entailed a significanl reduct in the financial reserves. The Truslees a¢knO¥edge IFfs ¢xJJrent fin&Kial aThJ need lo achieve financial SU5tainabilily. In asse5sillg the near tem7 finanaal oulknok. Trustees have conSered both the oJrrent level of reseNes and the SitiVe finanaal benefits 0Vle{l by the range ofewtin9 new training ventwes lo be delivered in the upcoming period. Given their confiL1ence Ihat these OFWrtunibes VAII be delNered. the Trustees leye that IFT Can be ¢onsKlered to be a gcéng concem for at least mcnths frcffl the date *then these financial statements are authorised for iswe. Page.. e
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st Augusl 2023 ReseNes policy The Instiiute needs to hL4d Yfee $ve$. IvNestricied funds rKJt deswaied fora specific purpose and in eXC8Ss of amounts invested in tangibl8 fixed assets) so thal continue its acimtrs PgriLK15 funding does not covef expendilure. The T¥ustees have adopted a conservativ8 thereby free reserves shovkl be held wthich amount to at least 6 months, operating expendilure nDI relating to tncome generated from the services provhled by the Instrtute. On ihis basis, there woukj be a requirement lor reserves of approxTnaiely £375,000. Unrestrictsd fun¢Ys at the svr-end of E271.122 equate to approximaletyftxw months of group (Iperating expenses. In light of current Iraining a¢tsthty. lUtU Msibilty of revenues and rN)sibve momen¢vm at the lime of review and sign-off, Trustees are ol ihe opiThon that sulfirxent funds are availabk to cover rts fixed liabilities over the designated period. Fundralslng polky IFT had no fundraiwng activrties requwing disdosure under The Charits"es {Pro¢e¢bon and Social Invesbnenll Act 2016. A5 th8 Institut8 undertakes no fuNJiarsing a¢lieS, there is no inv<Avement of third.party fundraisers and lhere1e no Comnts{2022.. None) were received in the year regarding fvndr3ing pracb'ces. FUTURE PLANS AND CHALLENGES We know that mysl ccbtinue lo be fieyible and responsive to Ihe thanging pwfess1Lsl environrnent in the NHS and Soual Care as well as olher crntexts and Panicipate in conversatiws arnd any changes. Efforts musl continue to devdop a range of trainsng such as short courses that r8ath new partners and participants diluting the quality of the teaching and delivery. It rs likefy that partnerships, both fomial and infcfft)al, will PTowde security in new areas of )rk. IFf musi mauitaui its reputs11 alOngse other sysiemic training prowders and contwiue to be financrdlty competitive. IFT has developed rmpc¥tant In.811Ve$ and partnerships with agencJe5 are simil*ly Committed to meaningful tran5fonnation of systems that wll have a tsngIb Impact on people's INes. In particular. Barnardo's new Centre for African, Asian and Canbbean Herilage Children and yTrg PeorAe, cA11ed "SEEN. Iwww.weareseen.org.ukl. along vAth the Church of England National Educaiion Lead for Racial Justice, working with the Racial Jusl'ce Unit are wymking alry5th IFT to challenge institu.onal raosm in schcKAs, based on training IFT has developed on a cntical approath to trauma•infomied carelpractice that explores whiteness and raoal trauma as well as social a¢bon approaches foraddressjng the impact of sooally- engineered trauma. As we chip away at oUrfinanal bur¢Yen. we can do more of this type of Social justice work. The 101 sei lo begin in September 2024 VAI fwus on 3 schcth wth an awn for the train4)g to be rolled out 10 Church of England schools acTOSS the county- Page.. 9
INSTITUTE OF FAMILY THERAPY Trustees. Report For the year ended 31st August 2023 STATEMENT OF TRUSTEES. RESPONSIBILMES The Trustees I0 are also dIwI of IFT for Ihe wrrx)ses ol company lawl are sponsible for preparing Ihe Trustees. report and the financial staiements in acCOrdar appliLzble law and United Kingdorn Accounting Standards Iunited Kingdom GeneraltyAccepted ArrAxJnbng Practice). C7panY law requires the directors to ppare finwtial $latements for eath finanoal year. Under that law1he direclots have elected to prepare Ihe finanoal statemen15 in accordance with United Kingdom Generally A¢cept8d ACcoun'n9 Practice Iuniteij ng¢JOrn Accounting Stsndards an¢J applicable law). Under cornpany law the dIrIorS musl no¢ approve the finanual statements unless they are sat15fed thal they give a Irue and f8ir viewof the state of affairs of Ihe Institute and of the incoming resources and applicatron of resources, including the income an¢ expenditure. of the Institvte for that penod. In pparirKj ihese financial statements, the directots a requwed to: . Select suitsble a¢ub"rj pdiries and U)en artyyy them consistenty. . Observe the methods and prinoples in the Chaiitie5 SORP FRS102 {20191: . Make judgements and estimates that are reasonable and prudenL - stste whether applicaue UK AccrJnting Standard5 have Lwi fdlcwed. sutr¥¥t to any material departures disck)sed and explained in the finanoal stalements.. and . Prepare the financial Ststemenls on a gL¥ng concern basis unless rt is appropriate lo presume that the charitae companywll tJe in business. The Trustees are resp¢y)sitAe for keepiw adequate ac¢ounb"ng records Ihat are suffiuent to show a1 explain th8 In5b'tute's transacti5 and di5cJose th reasonatle acojrdcy at any tirne the finanr#al position of IFT aThJ enable them to ensure that the finanoal statements ¢ornrAy wth Ihe Companies Act 200S. They are also responsible for safeguarding the assels ol IF[ and hence fty taking 8$atr4e Steps forthe pyeVenti aThJ detection of fraud other irregularities. The Trustees a reswns1Ee for Ihe maintenance and integrity of The corpore and finanaal informatic¥) in¢luded on the Institute's website. Legislaim in tre United lfjng&)m governing the preparation and dtsseminal)n of financ4al statements maysjtfiet trom 1egislab.¢ in otheriurtsdKlions. Financial Auditors Price Bailey. a firm with COnderable eXper8 in the tharilies seclor. were laIned a$ extem81 financial auditors for this period. They will be proposed for aOin1mefit at Ihe forthcuning Annual Generdl bAeetiry. This report has been ppared in acc(Ydance wih the provis#)ns of Part 15 ofthe Companies A¢¢ 2006 relating to Smal companies. On behalf of the Boar Kathleen Waters - Trustse 14 Feb 2024 Page.. 10
INSTITUTE OF FAMILY THERAPY Indèpendent Auditor's Report To The Trustees of Institute of Family Therapy Opinion We have audited the finanrial sta18ments of In5I1ute of Famity Therapy Ithe'charilable companll for the ye8r ended 31 Augusl 2023 which comprise the Slalement of Finarno81 Activthes lirwporating incorne & expenditure account). the Balae Sheet. the Stsment ol Cash Flows and notes to Ihe finaal statements. including a summary of signffjcanl accountThJ pc4iaes. The finanLial repoiting framew)rk that has been applied in their yepar8ts.on is applicable law and United ngdoM AcCUntIng Standards (United Kingdom Generally Accepted AcC4)unn9 Pradicel. induding Financial RerwJng Standard 102 The Financial Reporting Standard applicable in the UK and RepU1C of Ireland. In our wn¥)n the finanual slatements= give a Irue and faiT view ol ¢he stsle of Iht charitabte c<ynpanys affairs 85 at 31 August 2023 ard of its incoming r8source5 and application of reSoUrs, IndUd¥ its income and expendilure. for the year then ended.. have been properly wepared in arAxth7ce lIh United bQngdom Generalty Arxepted AcwJnting Plac1.. and have been ppared in ac¥xYdance wth Ihe requirwments oflhe C(ffipanies Act 2006. Basis for opinion We ¢onduded our audit in acrdance wth Internati81 Standards on Audibng IUKI {ISAs IUKII and applicable law. Our responsibilib.es under those standards a further described in the AUdrt$ reSponsiliti8S the audit ol the financ*al staternents section of rewrt. We are independent of Ihe d)arilable company in accordan wth Ihe ethi(al reqU1MentS that are leVant to our audit of the fmancial stalement5 in the UK. inclu4Ying the FRC'S Eihic31 starard, and we have fulled our olher ethical responsibilities in accordance wih these requirements. We beIve that the audit ewdence we have obtained is sufriaen¢ and appropriate to provide a basis lor(wr On. Conclusions relating to going concern In auditing the financial statements, we have condutjed that the Dire¢tors' use of Ihe cCern basis of accounting in Ihe pteparaiion of Ihe financ1 51atements 15 apwopiiaie. Based on the work we have Kyo[me. have not Kjenftfied any material uncertaints'es reL4tirvJ to events or Conditions that. individuallyor co1ctivety. may cast signffic2nt doubl on the Companls ability lo continue as a g(wng concem fL¥a perio(l ofat leasi twdve mc¥)ths frt when the fjnanoal stsiemenis a aulM)rised for issue. Our reSnSIbIlItieS and the re5pJnsit4lbties d the trvstees wlh to wng ¢tyrn are described in ihe relevant sections of Ihis report. P&Je.' 11
INSTITUTE OF FAMILY THERAPY Independent Auditorfs Report To The Trustees of Institute of Family Therapy Other informatlon Th8 Other informats.on comprises the infonnation indud&J in the trustees. annual pry( other than the rinanoal siaternents and our auditorfs rerth theieon. The Iruslees are reswnsible lor the other informatron contained wthin the annual report. Our opnion on the finanual staiements does not cover th8 other InfMatiOn and. except to the extent otheNAse e4)litJty stated in wr p)rt. we do not express any form of assurarKe condusion thereon. Our sponSIbl11ty is io a the ott)er inftymalM)n in drrfj so, tonsJerwhether the other inforniation is rnalerially irOnSIstent with the ffnancial stat8ments w our kn¥ledge obtained in the audit or otherws8 appears to be maierially misstated. If we identify materi¥ irwnsislencies or apparenl rnaieri81 misststements, we are required to delerrnine whethtr trere is a rnat8rtal misslaternenl in the finanrial 5ts1ements or a material misstatement of the olher infomiation. If. based on the work we have pprformed. we conclude thai the is a malerial misslatemenl of Ihis other infomwtion. we a reqUId to rert that facL We have nothing 10 report in thts regard. Opinions on other matters pre$¢ribed by the Companies Act 21106 In our opinion, b85eiJ on ihe undertaken in Ihe c(yJrse of the 8udit the infLYmatlON given in Ihe Irustees. report lin¢(xporating director5. rekK)rtl for the finantyal year for which the financial stalements are prepared is consistent with ihe fnancial staternents- and the direOr$. rewrt indJed the tsustees. reIll has been pared in a(tordanc smth applicatAe legal requirements. Matters on whlch we are required to report by exception In the light of our kn¢edge and underslandiry of Ihe tharItse oynpany and its environment obtaired in the Course of the audit, we have not 1dentrf malen.al misstatements in the directors. ieport. W8 have nothing to reF<Jrt in respect ofthe foUrMfjTrJ maliers in relation to whth the Companie5 Act 2006 requires us to rep)rt to you if. in our opinion.. adequate a¢covnl#w records have not been kepL OrreM$ adequate for our audit have not been receiveij from brnnches not wsired by us." or the financial statemenis are not in agreement wth the acAxJuntiThJ records and reiums.. or certain discbsures of trustees, Muneration sperifieLI by law are not made.. or we have not received all the information ar explanat)5 we require for ourèudit.. or the trustees were not entided to prepa¥e ihe finanaal statements in accordance Ihe sm811 companies, gIMe ?j take advantage of the small companies. exemption from the requirementlo prepare a strategr rewt. Responsibilities oltrv$t•8S As explained rnor8 fully in the trustees, resIsibIfrties statement (set t on page 101, the trvstees (who ar8 also the direciois of the ¢haritsble cK*npany for Ihe purposes of company lawl a responsib for Ihe p¥eparation of the finanoal statements and IL¥ being sabsfied that they give a true arKJ fair view. and for such inlemal control as the directors determine is necessary lo enable the preparatM)n of financial statements that are free from material misstatement. whether due to fraud or error. Page.. 12
INSTITUTE OF FAMILY THERAPY Independent Auditorfs Report To The Trustees of Institute of Family Therapy In prepaiing the financi slalemertts. the Irustees a spOnsIb lor a$5essing Ihe charilat4e cornpantys ability to continue 85 a going concem. disdosing, as applicaue, rnattets related to going concern and using the going ¢oncem basis of a¢Unting unless Ihe trustees either Jnlend to liquidate the tharitable cornpany or lo ceas8 Operati$. or have no realistic altemative tMJl to do so. AUdit0S responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance whelher the financial statements a5 a whole are free from matenal misstaternent. thether due to fraud or error, and to issue an auditor's report that indudes our opinn. Reasonable assurance is a high levd of assur8. J[ is not a guarantee that an audit conducted in accordanc8 with ISAS IUKI wll 8y5 detect a rnaterial rnisstatement when it exist5. Mi$siaiements Can arise from fraud or error and a con$KIe material if. individually or in the aggiegate. they coukl iea50nabty be expected to infiuence Ihe economic decisK)ns ol u5er5 taken DTI the basis of these finarlcial siatements. Irregularilies, including fraud, are instances of norpcorn1ance With Izw5 arkl reguLqt+ons. We design procedure$ in line vAth our resrM)nsitMlilies, oufined atJ)ve. to detect material misstatements In respect of irregularibes, including Iravd. The sperific wocedures for tIMs engagement and the tsent to which these are Capable of deiecting irr8gularitse5. indtyying fraud a detai bekw. We gaed an understanding of the legal and wulatory framewort( appJi¢able lo the Charitsble Company and the 5edor in which il opetates. and considered Ihe nsk ol V)e Chantable Company not complwng Mrith the applicable lawE and regulation5 induding fraud in particular those wulations directly related to the finanrial statements. in¢luding financial reporting. and lax lsIat)n. In relaiits) lo the op2ratK)ns of th8 Chariiable Company Ihis induded compliance wth the ChariDes Act 2011 and Compan$ Acl 20(b. The risks We th"sfxJssed wlh the authi aM and we remained alert tn indicaD.S of n•cOMpli3nc8 throughout the audit. We carried out SpeCbr wocedLwes to address Ihe risks Identified. These induded the follovAng.' Reviewing minut85 of Board meebngs, rewewing any cOrresFence V4ith the Charity Comrni5sion, agreeing the financial staternent disclosure$ io urmIen9 surwting documenlation, rewew oi legal fee5. anrj making enquiries of management anL¢ officeis of the Charitable Compa•y. Management overri(J". To add$$ the risk of rn8nagernnt ovwrKk of contrds, we tyjt tesiirvj of journal entries and other adjustrnent fry appropriateness_ We also assessed management bia$ in relatK)n to the actnb"ng )licIeS ad(oted w)d in determ¥wvJ swrftsni accAxJnb"ng a$L¥naS. BeUSe of the inherenl limit81ions of an audiL there is Ihe risk thal will rKJl detecl all irrewlariii8S, inclu¢Jing those ading to a material mis5tsternenl in the financial ststements or non*Q)mplian¢e with oulalion. This risk increase5 the rrw)re that rmplIance wth a law or regulab'on 15 removed frorn the events nd tran$8¢tions rdecled in the financ1 ststements. as wll be less likely to become aware of instances of non-cornpliance. The risk Is also goater regarijing WTegularitses occuThing due lo fraud rather than erfor. as traud involved intentional concealment. forgery. lIslOn. cffiission or misrepresentatk)n. A furiher dèseription af our resp(¥tsilx"libes 15 aVale on the Fiwnoal RewtiThJ Countil's Mebsite al.. htt S.'IlvA.frC.o .uklOur-wolAUdrt1A rancelStandariJs-and- ancelStandards-and- nce-for-auditorslAudiiors-res nsibilibes-for-aud- IKJn-of-audi1-res onsibilities-for- it.as Page.. 13
INSTITUTE OF FAMILY THERAPY Independent Auditorfs Report To The Trustees of Institute of Family Therapy This desul)li( forms part of our au¢JiWs rekKrt. Use of thls report This report is made &elY lo the ¢harilatAe companys tfustees. as a body. in acrA)rdap)ce wth Chapter 3 of Part 16 of the Cornpans Acl 2(#)6. Our auLlit w(wk has b88n undertaken so that we might slate to the charitae cornpanl5 trustees those rnattels ¥ are required to stste lo thern an auditor's report and lor no other purpose. To the fullest extenl pem)itted by law. we do rjol ac¢epl assume responsibility to anyone other Iha) Ihe charitsble company anij Ihe Chaiitab compan5 trustees as a bLxty, for our auort work. for thi$ r8POrt. or for Ihe opthions we have forffl8(1. Kltchael Cooper-DaTri5 FCCAACA ISenHy slatA1) For and on behawof Price Bailey LLP 24 Okl Bond Street LoThY W1S4AP Oate.. 14 February 2024 Page.. 14
INSTITUTE OF FAMILY THERAPY Statement of Financial Activities (Incorporating the Summary Income and Expenditure Account) For the year ended 31st August 2023 Unrestricted Restricted Funds Funds Tolal 2023 Total 2021 Note INCOME Donations and lega¢it$ 8tXS 15.636 Charitable activities Training Membership seNc8S 794.490 6,020 794.490 6.020 918,386 6.930 Investment Income 3.836 3,836 1.146 Other income 2.612 Total income 810.146 810.146 944.690 EXPENDITURE Charitable Actlviti8S Training Membw5hip Serv8 1.022,844 24.294 1.022.844 24.294 1.005.8(M) 23,889 Total expenditur• 1.047.138 1.047.138 1,029,689 Net lexpenditurel {236.9921 1236.9921 {84.9991 (Losses) I gains on pension sdrne deficit redUcOn provision Transfers of previous expenditure 16 Net movement in funds 1236.992) 1236.9921 {84.9991 Total Fund Brought Forward 508.114 51,548 559,662 644,661 Total Funds Carried Fonvard 271,122 51,548 322,670 559,662 The notes on pag8$ 17 ¢0 30 fn an inle9ral part of these acoyjnts arKI all ac*'Mties are contsnuing. Page.. 15
INSTITUTE OF FAMILY THERAPY Balance Sheet as at 31st August 2023 2023 2023 2022 2022 Fixed Assets Tangible fixed assets 13 127.997 Current Assets Debl¢ys Cash al bank and in hd 14 396.029 253.825 217.705 678.423 649.854 896.128 Creditors- Amounts falling due within one year 15 1.351 427,345 Net Current Asws 266.$03 46B,783 Totsl ass¢is less cvrrtnt liabililies 363,483 59S,780 Provisions for liabilities 16 140,8131 137.1181 Total Net Assets 322,670 559,662 Funds Unr&stiicted ffftds Restricled futhjs 271.122 51,548 322.670 508,114 51.548 Totsl Funds These finawal slaternenls have been wepared in accwdarKe 1th the prDv15K)n$ ap1£ae to wmpanes subjert to the small cornpaThes regime thin Part 15 of the Ccrfnpanies Act 2006. The noles on pages 17 to 30 ff0 an integrat pwt of these arInts and 811 actiwbes are continLting. 14 Feb 2024 Aproved by the Board [TrusIee5, aUlhIsed f0rdists1bJb¢. .......... . and signed on the behalf by. Kathleèn Waters - Twstèe Company Registration Number.. 1621020 Page.. 16
INSTrruTE OF FAMILY THERAPY Statement of Cash Flows for the Year Ended 31st Augusl 2023 2023 2022 Cash Flows (used inl I provided by operating actiwt Net cash flow ILL%ed inl Iprwtjed by ¢yrirvJ adie$ 22 424,470 26,955 Cash flows from investing activities Investment income and interesi cej Overpaymeni previousty allo¢aled fo defined tw)efit MlIrr sthemÉ Payments to acquire 9ible fixed assets Net cash flows (used inl investing aetivitses 1.146 18,268 128 17.122 Change in cash and cash equivalents in ar 1424,5981 9,833 Cash and $h tyuivalents al beginning of the year 678,423 668,5 Cash and cash equivalents atnd of the year 253.825 678.423 is of ¢a$h and ¢a uiva 2023 2022 Cash at bank and in hathj Short term depo&ts 253.825 678,423 253,825 678,423 Anal is of than es in debt 1 September 2022 cash Flows 31 August 2023 Cash 678,423 1424.598) 253.825 Totsl 678.423 424.598 253.825 The rK)tes on pages 17 10 30 fonn an these acCOts and al actieS are continuing. Page.. 17
INSTITUTE OF FAIAILY THERAPY Notes to the Accounts For the year ended 31st August 2023 1 Accounting Pollcles Ba$1$ of Pr¢paratlon of the Financial Staternents These financial slatements are Prepar C a gJ¥vJ cuKern tK5i%. under the histtwical cost cjjnvenlicn. The financial slalements have been prepared in attAvdanee wth Ihe Financial Reporting Standard appliG8ble the UK and Repu of Ireland IFRS 1021. The chantaN8 Ixjmpany 15 a wL4ic ifir entty for the purpose5 tsf FRS 102 and therefore the charitsble company also prepared ds finalloal stslemen15 in accordance wth the Staiement of Recommended Practice applKable to tharilE5 wepanm9 Iheira¢¢ouni$ in accordance with Ihe FinanrJal Rerxyb'ry Stsndartj appli(xL4e in the UK arKI RepuN¢ of in (rhe FR$ 102 Charities SORPI. Ihe CcrfnpaThh Act 2{ art¢J ts ChariW Act 2011. The finanual ststements are pffjparwj in stwling. whK is the funfAk31 fAJrrerry of the Charity. KI0Y amounts these finanoal slatements are roLmded to the nearest pd. The principal ac¢ounDng adoFW in U preparathy) of the fmnoal statemenls are out Going Concem Trustees and management are responsi1 for makity an assessment of whetherthe going ¢ontem basis of accountiThJ is appropriate Kthen prepariw financial statements. The a)ncepl of gcmng ccern i8 defined as the ability 10 continue in business a perKJ ol at least 12 months from the end of the ¥1• period. In maknng the assessment. management and trustees rnust make judg&mts on various uncertain fuiure ouicomes of events or ¢x)ditify)s. and Il res1W ofthe io such &ts. In ¥eachiry a posits.ve gng concem assessrnent. they must be ccnfident at the that it Is made, thal they have surrioellt fanCIal reserves aThJ vislty of fubJre irttrn8 to withsland the potentwl impact of such adveise outwmes. The tru5tee5 con5hler the tharityto a gtyng COnM 12 months frrrn the date or signtn9 of these &¢(KJn The Charty is curr8nlty thOritIeS n51i1u1ir partrer5 to l)urKh nation-vAde initkgtive. Thi5 VAII resutt in ufftrnercial contracts to LE swned. As part of tyJrf¢Kecast ar¥J whfl(ws project5. the CharAy should reach profiiability in Ihe 12 rnth$. This will womote financial Sustrinabilty and k)ng term autonomy. The Trustees are also investigats" initiatives to reduce p2m18nenrfy scme fixed costs and creale rnore operational fiexitAfity in the Charity model. MIng to secAJre IrMe before irKurring tsts. Inc¢)me (i) Gr8nts receNabl8 Granls reGewable are incbJd•J in the Statement af Financial AdMibp5 an aruua15 basis when there 15 eniilkment to Ihe ince, kyobablty of receipt and the arnaunt Lw l measured rdk8ily. grants rerENed for speofi¢ purposes treated as restricled income. (Iij tknn81A)ns andms All moneiarydonaltorts and gfts are induded th8 Statemenl of Fwwncial Actvibes on I1P1. No Wdlu8 IS ttributae lo donations in kiTrJ and these are rnl iThdud&S in the income or experLdrture acctyjnt. Donatior¢s under Grft ABJ. togetherith the a5SOCiated irKome tax recover$. are ¢reth"ted to the i#corne and expenditwe acCnI tten dOna(K we ittewed. (im) Charitable actNrfs IrKome frw charitab acINit$ ts ac¢ourrt*J eamed. Pzge.. 18
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 Alloca0 and apportionment of costs Expendllu. which 15 charged in the Slatemenl ol FinarD4 Athties ¢)n an acuuab baw5, has been rjassified under headings that aguregaie all c05t5 relaied the type of Mty. Where costs ¢anno¢ direcuy attritAJled ¢0 a particular actlwty li.e. suprKwt (xjstsl they have been alkKated to them on a basis ex)nsistent wth use of the resources. Support costs have been allted on the basis of stsff time spent on the vark)us activitS as this is fdl to be a measure of the rdabv8 prop)rthJn of resLwJrce5 thn5um8d. Tangible Fixed Assets TangitAe fix8d assets cosliThJ mcÈ Ihan £1,LKk) are caWId arwj depated ov8rtheir usaful INes and shown in the b81wKe sheet al cost Jess ac£MU)at6d depreciakn. Dewecaatvjn is provided at the rdi(bWin9 rate. Long leasehol¢J Fre$ and ffi95 Cornpthw equiwent - Over length of lease - 20% on cfysl - 33% on cc61 Fund accountlng (IJ Reslricl8rl funds The restrrled furK15 a funds thich have been ratseLI f( a Spear wrFrfJse to their use is restricted. or donatons subject to dor #nposed ¢dit7$. (li) Designatedfunds Designated lund6 are fund6 sd a&d8 Out of g8nwal fwds and d8wgrwt•Y for spacific PLwpos85 by the Tru51ees Iwl) n t1¥5 case are th8 members of Cwroll. (iii? Genepl IUN The general fun¢J c$1$1$ (4 t1 fvrJ5 wtiich the t4ynparymaywe in furtherance of its chwtable jectives at the dIs(Xeb cl the Trustees. Leases Operalng kase commitments are provifjed for in the balarte sheet ai the rental payments fal L1ue. Such nial cost$ are Charged to the Staiemeni of FinarKial a$ acuued. MÈmbÈrs' and wotessSonal stspwt Member5 ofthe In5Dlule of Famity Therapysupp(wt the th ofthe Instite VaSty by sermng on key u)mmrttees. devek¥xw the rAeS of the Instrfule 3r representing the In51Aule on other prtsfessional bod1es. Such membefs also provide a svJnth¢ant ser¥e to members of the public and ale key peOe in developing and runniThJ the various training wgrammes. to accept fees at less Ihan hatt the standard rate. Income and expendlture does rK)t indLJe the value of this drmated ttme. liremonl bonefrts Coninbuttons in $pett ofthe u)mpan¥s tJefin&J ¢(X)thbution pensKJn stheme and ¢ertan emrAoyees' personal schem8s ar8 tharged to Ihe inwe and expeTh1iture jnI fL¥ the which Ihey are payaL4e to th8 schemes. The ccffipany also parbapates in Ihe Trusts Gro Han. fLYthe directuate. This F4an is funded land not conlracled out of the stsle schernel and is a rn¥lb-empbsEr penSn plan. CcfilribJtk)ns paid into Ihe Growth Plan up lo and iJ1g Seplemtw 2001 were converted lo defined aMjn(S of penson payable trom nffinal retirement date. From October 2001 were invested in pers£¥ funds *thich havs a Capilal guarantse vthich we ¢verted to pensK)n on retitemwi. Page." 19
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31$t August 2023 Accounting Poliues Icontinv2d) Retirement benefrts Icontinuedl Actuarial valuatv)ns of the GrovAh Flan are caffied Lwt evwy >ears to dem)h)È its fijnding pIllOn, by companng Ihe assets wrth the past service liabiliti ai the ¥aluaiion dale. If the actuarial valuation reveals a defiul, the scheme's Tnjstee has th8 POW8r to agree a reVery rAan to diminate the d8ficit over a sp8cified period of time either by Vdy of addittoThal conlrilwliLS from eMplor5 andlor investment relums. It 15 not posst4e in the rKymJ c¢urse of events to Kltntrfy the share of underfwng assets and liabilities k9m9 to indivi¢lual parriupating eMpYerS. Attsythn¥y. due ro the fjare of Ihe Ilan. Ihe accthnting charge for Ihe period Urer FRS102 represenls the empljyer c£trt#I$ pay However. the charity has rntrfd of lis comm1knl 10 Ihe {lefi redud1 pL8n paya8 in additional ojnlribulions over a 10 yearperi&J. ProviwTr has been made in Ihese accounts for the full Ikgbilty estimated to fall due under Ihe defrit re<lJction pkn. The bar of reguLv 60Yer paentS payat4e 15 recLyJnised i each ¥CotINg peri¢yJ as ttieyftjl (k. Taatn The charty is exempl from L¥)ryK)ratx)n tax on its tharitaNe aLaMDe Cash and cash equivalents Cash and cash equivaknls incJde cash in haTrJ. dew"Is at call wlh banks and olher shcwt-term liquh investments with rginal MatieS c4ts¥ee monlh5 less. Employee benefits Th8 Costs ofshort-tem emplo tenefit5 ar8 reccgiiwt as a liabilty and an expense. Finaneial instruments The chariiy has deded io appty Ihe Krni of sea 11 'Bag¢ Financial Instruments. to JI of its ffina instruments. Financ?1 instruments are recogni5ed in the thariiis balance sheet when the charity becomes partyto the conlraclual prOS1onS ol the instrurnent. Fir¢181 assets and fbililies are oftset. wlh Ihe net amoun15 psented in the finalloal statetnenls. vjhen ther8 is a legalty fOrCeable nght 10 Set ofi the rwnised amoun1$ an¢J Ihere is an intenknon to settl8 a not bays or reaise the asset araj selde the liability SiMlaneously. With the ex(Fons ofamwnts due to and from HMRC. myTnents dèfetted tme 81 ¢)ther debtor and creditor balances are cortsidered to basic f881 insMJmÈnts under FRS 102. See noi8s 14 and 15 for Ihe deblorand ueditor Mtes. The balances 8re reflefxed Miilially at transactw price and sub5equ8rslly at 5elUern8nt value. Key est4mates and judgements In preparing fanual statements it ts neceswto make ltsin judgements. estimates assumptions that affect the amtyJnts reccgnised in the financial statements. Th8 followr judgemen15 a1 estvnates are Csided by ihe InJslees to have rn05t SCnI effect on amtsJnts recogniseé in tt ststwnents.. [1) Perw Tw$1 Grthth PL8n Scheme." The detem11nalK ofts PTovision is depend1 upon assumpb.orts in lalion lo Ihe lÈngth of the tem) of the plan arrangement. ¢ntributKw rates due in the future. aclu8ri81 assumptrjns and changes to undefly'ng interest rdles. The assumpt$ may varysignifKandy over time. Page." 20
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 2 Donatlons and Lega¢ie$ Unrestricted Rtri0•d Fund5 Funds Total 2023 Total 2022 Ocnallons Grants 15,636 806 806 15.636 Incixne from d¢¥1 aThJ kgaoes £(202?". £15.636} ol whth £NIL was tritable lo restricled fvnds {2022.. £NILI and £806 was attribtstat48 to unresiriftsj fuTrJs12022 .. £15.6361. Grant inc(me is £NIL in the Far_12022." £NILI. 3 Charftable activiti Unrestricied Funds Restricted Funds Total Total 2022 2023 Tmining membersh sem 918.366 6.930 6.020 6,020 800.510 800,510 925.296 l income tharitatAe xtMts8s was attrJt8bk lo unresrrid8d fvnds {&s Vds yearl. 4 Investment Income 2023 2022 Investm1 income 3.836 Al iThvestm8nl incTh attritmjtabfe to tmreslricled fur#ts las was wior year). 5 Other in¢tsme 2023 2022 Rent and r¢y)m Miscellwews ¢¢)rne 4.934 2.612 Al other wic(me was altrNJiable to unresiri(xed lun¢Js las was yearl. Page.. 21
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 6 Charitable xtyvitses Supptsrt costs (Seè 71 Totsl 2023 Dbt¢ct eosts Tr1r MeMbeh1P SuMce5 623,931 14,819 638.750 398.913 9.475 408,388 1,022,844 24,294 1.047.138 Support costs (See note 71 Total 2022 Direct costs Trainl Membership Swwces 628.661 14.931 643.592 377,139 8.958 386,097 1,ChJ5.800 23.889 1,029,689 All ol the 8trthe cos18 totalling £1.047.138 re attrArt* lo unrestricled lunds12022.. £1,029.6891 7 Allocation of Support Costs 2023 2022 Training Membership servi 398,913 9.475 408.388 377,139 8.958 386.097 SuptK)rt C0515. W@uded the atrp)ve. are ana1ed note 7(b Psge.. 22
INSTITUTE OF FAMILYTHERAPY Notes tothe Accounts For the ywtnded 31slAu9USt 2023 Tlbl kn*1oISPWc0 Trary $1252 45111 149 PtwertYPXPEllg DÈwÈc Im656 34.171 55,T $549S 112.899 ST.1 87.1 3x913 11631 (T.04n Dfp4Dl4ndfflathr 7.681 15J.8ZI (kher0(Sts 1C6.CW .911 1495 107.593 65,4 10H7D 241 3n.1 J16.t47
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 8 Govemance cost$ 2023 2022 Slafl cost5 Audil Legal anL1 wofesswl 43.133 19.500 4.418 49.992 12,132 3.305 67,051 65,429 g Net lexpenditurel Net lexpenditurel L8 slated after chargiTh3.' 2023 2022 OepreLyaborF owned assets Hire of plant and machw 0th8r operating leases Auditors, remuneralion Inetl- cwrent year fee Account5 prepefatyc Inetl- jent SEar fee 34.983 8.712 110,949 10.5 34,087 8,966 114,527 9.500 1,500 168580 10 Trustees, remuneratson and b¢nÈfrts The members of Ihe not recve ary runeratIOn 85 slatutorydireetors rfthe cornpany in ¢he curr8ni or pmx ar. 11 Trnsttts. expensès There were no tnjstees, expenses reinbLwJ Vr7j the star eryd 31 IgL1 202312022.. £NILI. 12 Staff ¢ost$ 2023 2022 Safaries Sooal securitytOSls Pension costs 414,903 35.982 10.142 461.027 349.451 34.4 9,407 393,287 Toial Staff cosls 2023 2022 Staff costs have as SW belw. Trainsng Memb8rship seNces Charitlable aCtItI$ Support costs Goveman 351.823 14.819 366.842 51.252 43.133 461 027 335.411 14.931 350.342 17.0471 49.992 393 287 The average number of rn1thty emrd¢)yees thJriNJ Ihe yEaiTrxdS as Idbw3". 2023 2022 Tiainino Support staff 13 11 Page.. 24
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 Twrj ernploye85 earned bemeen £60.000 to £70,oc OJriThJ the rrent ye8r12022..21. pensi o)ntiibubons reLgtir¥J to these individual amounted to £4.375. Key Manageent person1 indude the thef ExetsJbve ar¥J senior staff reFoM'ThJ direcuy 10 the Chief Exeeutive. Total reMrati£ paiit io charitys key managernenl peonnel during the year lo 31 Auwst 2023 total £223.552 12022." £222,917). No trusiee ceIVed any remuneration as part of this anKKJnt 13 Tangible fixed assets Fixtutes and fittFngs Computer equipment Long leasehold Totals Cost Al 1s1 September 2022 Additions Disposa At 31st August 2023 178.582 36.911 308.879 3.964 178.582 93.786 40.475 312.843 Oepreciation At 1st Sepiember 2022 Cbar9e lor year Disposal$ 69.554 28.080 78.891 3.975 32.436 2.928 180.881 34.983 At 31$t August 21123 97.634 82,866 3S.364 Net baok value At 31st August 2023 10.920 5.111 96.979 At 31st August 2022 109.028 14.495 4.474 127.997 14 Debtors 2023 2022 Trade debtor5 PrepayTrent5 and accrued income Amounts due within one year 295.138 45.416 340.554 142.971 19.259 162.230 Rent deposit Amounts due after one year 55,475 55.475 55.475 396,029 217,705 15 Credltors.. Amounts f41ing due vmthln *)ne year 2023 2022 Other ueditors Taxation anLI Swal Se(JJrity Act34$ Deferred nccffie 19,935 8.527 14,700 340,189 24,642 6.411 92,510 303,782 383,351 427,345 Page.. 25
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 Deferred income Included in the abovè. are anatysi5ed within note 15a. 15a Deferred Income 2023 2022 Deferre¢J in¢ome 1 S8plember 2022 Amount released to CLne eamed from tharitabbe thtses Amount deferred in year Deferred income 31 Augjsi 2023 303,782 {303,7821 340,189 340.189 181,363 1173.4531 295.872 303.782 1fj Provistan$ for liabilities As restated 2022 2023 Defikw tenefil deffiLYt dU1ffi payThents Isee rKxe 1681 DAapthtk)n$ 2.873 37.940 40.813 4.859 32.259 37,118 16a Defined bènèfit penslon pmrysion The ccthpany paThapates in the scheme. a muMpemF4oyw stheme lch W0e$ benefrts to some 638 non- associated participatiThJ ernpw. The scherne ts a defined benefrt scheme in the UK. 1115 Fx)ssible lor the company to obtain suffiuenl Infomiation to enab il to accoun¢ fly Ihe 5cherne as a defird benefit scherne. Therefoffj il •¢(%VIts tr the xheme as a de[ed sthw. The scheme ts subject to the fvn¢YJ tIlled Ihe Pensions Ad 2fJY came into force 30 Decernb8r 2CQ5. This. It>Jelher wth dcoJments issued by the Pensions Regulalor and Technical Aclu8ri81 Standard5 15sued bythe Finanryal Reporfiry C<xthul. set ¢yJt the frarnework for funding defined benefrt occupational Sfemes in Ihe UK. The scheme is dassified as a'Lgst-man stsndXj aaNjemenf. Therefore the (MpanY is wtenlially Ikgble for Olher partsupaling employets. rf Ih05e emtyoyers are unable lo meet lhr share of the scheme defiril IdlovAng wthdTawal from the xheme. P8thciiatin9 emk4oyer5 are legal required 10 meet their 5haTe of the scheme de1 on an annuty wr¢hase bas¢s withdrawal fr(xn th8 s¢eme. A full actuarial valuation f¢x Ihe $che Vds carried out a130 Seplemii 2020. This valuatw)n slwed assets of £800.3tn. lotmlities 01£831.9m avKJ a defK of £31.FAn. To elirnina this fundillg sh(wWall. the Tru51ee has asked Ihe PlPa"rvj eMplOts to paya¢SJibonal contribthn$ 10 Ihe stheme as f(knYs.' Deficit contributions Fmm 1 A 2019 to 31 Jry 2025.. 31kn tpayJe by3% eAth 1stArlI Urless a ccnces5h?n has bem agre•Y with the Trustee the tern to 31 2025 appfEs. Note that the sthemes prew$ ¥JatM was carrd ¥Ah w effeclive dale of 30 September 2017. This V31ualion showed assets of £794.9rn, liatlities of £926.4rn and a defiul of £131.5m. To eliminale Ihis fijnding shortfall, the Trustee aske£l the partiC4pating ernOYerS lo pay addrtffjal ¢tri1$ to Ihe Scheme as follow5.' Page.. 26
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year end8d 31st August 2023 Defi¢6t eontributions Fiom 1 AprA 2016 10 30 SeplernbEr2025 £11.24&n per Wlvn mL¥NyaTh1 Ira$j by 3% eacth 1st A1) Frcffi 1 April 2016 to Seplember2028 £54.560 per¥rrtJm IF• MI9nd kncJfy85ing by3% ea( orb 1st Aprql The retovery plan Contributions are afthaied to partK4pthg ernplo ill line 1th estimated share of Ihè s6$ 1 >)d Series 2 scheme liatslilios. Where Ihe Scheme is in deftit and ere fv panY has agreed lo a defiil lundiry arrangement the CnpanY recognise5 a I"11ty1(IhIs cU¥alion. The amount ¢gnised is the net pr8sent value ol the Ikficit reduciNJ) cAbAlt)ns ptyable u1$r the agreement that relates to Ihe defia't. The present value is cAbJlated using the <s(thni rate detaled in these discJ05ures. The un%wndiThJ ol Ihe dis1 Rte recognised as a finance cost. Reconcillation of opening and ¢l¢sing promslons 2023 2022 Prow$( at of peric# unwding of the dis¢ourrt fa(kn Defiat contribution pai(t Remeasuremen15- Irnpacl of any change in 355umpiw)ns èmèaÈuremenls- amerKlfflent5 lo the c¢)ntnLMrtth schedu Provisi ai end (d the 4.845 1e5 12.1081 1291 17.179 567 15,5761 12141 ,UY7 4,859 2.873 Inc¢)me and èxpendlture irnpxt 2023 2022 Interest expe Remeasurements- irnpact ol any thange in assump1KS Remeasurem1S- amendments to the ¢onthbutth sthedule 165 {291 567 12141 7,097 16.7441 136 Assumptions 2023 2Q22 % perannum % raThn % per annurn 4.46 0.63 2021 Ralelif (5scwnl The dis¢(xJnl tales above are the eqUant discomt rate5 Wthith. vsed to di5cwnt ¢he future ¢0Very plan contrikbs Llue. WLxjj w the saff resuNs as 1j a fvll AA Ix)rpLYa¢e bond weld ¢wve to disujwt the sarne recA)very plan conthtxJli(mS. Page.. 27
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 17 Opèraiing lease commitm*nt$ The folh)wng operating lease payments are eAYnmitted to b8 Paid in tolal Land and Buildings 2023 Other 2023 2022 2022 Totsl payablg.. Less than 1 year 88lween 2-5 years In more 5 years 110.949 46,229 110,949 147.932 3.296 1.920 3.578 3.360 157.178 258.881 5.216 6,938 18 Penslon commitments The company makes contribukns io ujmpanyand group personal pensKx) sthemes in respect ofthe Diie¢torate and cert3in employees. The payThents fo these defined cty)Ir&JJtion sthemes aTe charged in the accounts when payable and omounl¢¢ to £3.897 12022. £6.411). Page: 28
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 19 Analysis of net assets between funds Unreslrictèd funds Restrictèd Total funds funds 2023 Fixed assets Currènt assets Current liabilitres Provisions 96.980 598,306 {383.3511 40.813 271,122 96,980 649.854 1383,3511 140.8131 322,670 51,548 51,548 Unrestricted funds Restricted Totsl fund$ Funds 2022 Fixed assets Current assets Current liabilitiès Provisions 127,997 844.580 (427,3451 137,1181 127,997 896,428 1427,3451 137,118 51,848 508.114 51,048 559,962 20 Movement in funds reconciliation At 1st Septemb•r 2022 At31st August2023 Incomè Exp•nditure Gainsl {loss•sl Tvansfers Unre$trict8d funds General Designated funds Provision for pens¢on liabilty 435.009 810,146 (1.047.138) 198,017 73,105 73,105 Total unrestricted funds 508,114 810,146 11,047.1381 271.122 Restrictèd funds lal Bulgarian project Ibl Robin Skynner Educational 51.548 51,548 Total restricted funds 51.548 51,548 (al The Bulgarian project was set-up Some yeats ago by grants from thè Brilish Counril lo advance family thèrapy training in Bulgaria. A transfer of £300 was made to reflect re1ml1$emefit of premous expenditure on this fund accounled for uftrestricted funds. Ibl The'Robin Skynner Educational Fund" preSen15 a legacyfrom the state of Dr R¢)bin Skynner, which was transferred from the Talbot House Trust for the purposes ol advancement of education. including training. at the Institute of Family Therapy. Page-. 29
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 Comparativè information= Movèmènt in fvnds reconciliation for yèar ended 31 August 2022 At 1st Income As Restatèd Gainsl Transfèrs At 31st Unrestricted funds General 519,708 944,690 11.029,6891 300 435,009 Designatèd funds Provision for p8nsion liability Total unrestricted funds 73.105 73,105 592.813 944.690 11.029.689) 508,114 RestrScted funds Bulgarian project Robin Skynner Educational Totsl r¢$tricted funds 300 51,548 51.848 13001 51,548 51,548 13(MJl 21 Related Party Transactlons There were no related party IrdnsactlcS in the year, r in the prior year. 22 Reconciliation of net lexpenditurel to net cashs flow from operating Jctivilies 2023 2022 Net lexpenditural {236,992} (84.9991 Adjustments for: Dèpreci81ion charges Investment in¢ome Oecrease in provisions Decrease in debtors Decrease in credilors Cash adjustment to prior year 34,983 (3.836) 3,695 (178.3241 143.9941 34.087 11.1461 15.0611 1131.9431 216,017 Net ¢ash used in operating activilies 424,470 26,955 Pa9e.' 30
INSTITUTE OF FAMILY THERAPY Notes to the Accounts For the year ended 31st August 2023 23 Legal Status The Charity is a ¢ompany limited by guarantee and has no share capifal. In the event of the charity being wound up. the liability in respect of the guarantee is limited lo £10 per member of the Gharity. Page: 31