||||||||Page|
|---|---|---|---|---|---|---|---|
|Contents||||||||
|Trustees'<br>Report (including||President's||Report)|||2to 9|
|Independent<br>Auditor's|Report||||||10to 13|
|Statement ofFinancial|Activities||(including||income and Expenditure|Account)|14|
|Balance Sheet|||||||15|
|Statement of Cash Flows|||||||16|
|Notes to the Accounts|||||||17to 23|





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|Name|Designation|||||Country|Group(s)|Group(s)|||
|---|---|---|---|---|---|---|---|---|---|---|
|Paul Sainthouse|President|||||UK|CoT (Chair), IMC,|||IAC (non-voting)|
|Chief Teete OWUSU-|President<br>Elect and|Chair IMC||||GH|CoT,|IMC|(Chair)||
|NORTEY|||||||||||
|Alan Jones|IVP and Trustee|||||UK|CoT,|IMC|||
|Jane Green|IVP and Trustee|||||UK|CoT,|IMC|||
|Emma Ross|Advisor to Trustees|and Next||||UK|CoT,|IMC|(non-voting)<br>(resigned||
||Generation<br>Global Chairperson||||||October 2022)||||
|Dr Dorothy<br>Chan|Advisor to Trustees|||||HK|CoT,|IMC|(non-voting)||
|Gayani<br>De Alwis|Advisor to Trustees|and WiLAT||||SL|CoT,|IMC,|(non-voting)||
||Global Chairperson||||||||||
|David Pugh|Honorary<br>Treasurer|||||UK|CoT,|IMC,|IAC (Chair)||
|Mark Armitage|Secretary General|||||UK|CoT,|IMC,|IAC, IESC (non-voting)||
|Tom Naylor|Director of Finance|||||UK|CoT,|IMC,|IAC, IESC (non-voting)||
||||||||(resigned||31December 2022);||
|Roxana Thomas|Director of Finance|||||UK|CoT,|IMC,|IAC, JESC(non-voting)||
||||||||(from 6 February|||2023);|
|Jan Steenberg|Honorary<br>Secretary|||||SC|CoT,|IMC,|IESC (Chair)||
|Mike Pestereff|International<br>Audit|Committee||||UK|IAC (resigned 9 February 2023)||||
||Member||||||||||
|Doreen Owusu-Fianko|Deputy WiLAT Global||Deputy|||GH|IMC||||
||Chairperson||||||||||
|Dr Newton<br>Demba|IVP Africa and Chair|ofAfrica Forum||||2IM|IMC||||
|Dr Shehu Usman|IVP Nigeria|||||NIG|IMC||||
|Gidado|||||||||||
|Dr Venus<br>Lun|IVP East Asia|||||SL|IMC||||
|Fiona Knight|IVP Australasia|||||NZ|IMC||||
|Ni ra<br>I|IVP South Asia|||||HK|IMC||||
|Kadawatharatchie|||||||||||
|Patrick Casey|IVP Europe and Middle|||East||I RE|IMC||||
|Thomas<br>Maville|IVP Americas|||||CA|IMC||||
|Ts Ha)i Ramii Amir|IVP South East Asia|||||ML|IMC||||
|Finbarr Cleary|Development<br>Chairman|||IBF||IRL|IMC||||
|Abi Sofian|Deputy Development||Chairman||IBF|ML|IMC (non-voting)||||
|Harriet<br>Leung|HK Executive Manager|||||HK|IMC (non-voting)||||
|Sharon Kindleysides|UK CEO|||||UK|IMC (non-voting)||||
|Usman<br>Shuaibu|Next Generation<br>Deputy Global|||||NIG|IMC (non-voting)||||
||Chairperson||||||||||
|Vicky Koo|Head of WCBC|||||HK|IMC (non-voting)||||
|John Harris|International<br>Education|||Lead||UK|IESC|(non-voting)||(resigned 30|
||||||||November||2022)||



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|||||U|cad|Ed|e|T|e|I|0||*TIW|Ed|1|Tel|Tel|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||1|F|d|F||d||F|d|F|d|F|d|
||||Hole||!012|lol 2||10!1||||1021||2021||1011||
|Income and endowments||from:|||fOOO||EOOO||EOOO||||f000||EOOO||f000|
|Charitable<br>activities|||2||677||-|||677|||608||-||608|
|Investments|||3||6||13|||19|||5||13||18|
|Total income|||||683||13|||696|||613||13||626|
|Expenditure<br>on:||||||||||||||||||
|Raising funds|||4||2||4||||||2||4||6|
|Charitable<br>activities|||5||729||0|||729|||665||7||672|
|Total expenditure|||||731||4|||735|||667||11||678|
|Net<br>surplus<br>(deficit)|before|||||||||||||||||
|investment<br>gains|||||(48)||9|||(39)|||(54)||2||(52)|
|Net gains/(losses)<br>on||||||||||||||||||
|investments|||||(26)||(58)|||(84)|||33||79||112|
|Transfer between<br>funds||||||||||||||||||
|Net surplus/(deficit)|||||(74)||(49)||(123)||||(21)||81||60|
|Reconciliation offunds||||||||||||||||||
|Funds bought forward||||||||||||||||||
|01October 2021|||||403||621|1,024|||||424||540||964|
|Funds carried forward||||||||||||||||||
|30September<br>2022|||||329||572|||901|||403||621|1,024||





|BALANCE|SH|EET||||
|---|---|---|---|---|---|
||||Notes|2022|2021|
|||||f000|f000|
|Fixed assets||||||
|Investments||||773|869|
|Intangible|asset|||3|2|
|Current assets||||||
|Debtors||||191|89|
|Cash at bank||and in hand||231|321|
|||||422|410|
|Current<br>liabilities||||||
|Creditors falling due within one|||10|(254)|(211)|
|year||||||
|||||168|199|
|Current assets less current||||||
|liabilities||||944|1,070|
|Non-current||liabilities||(43)|(46)|
|Total assets||less current||901|1,024|
|liabilities||||||
|Endowment||funds|12|571|621|
|Unrestricted||income funds|12|330|403|
|||||901|1,024|






## 

|||||2022|2021|
|---|---|---|---|---|---|
|||||f000|f000|
|Cash flows from operating|activities|||||
|Net cash used in operating|activities|||(119)|120|
|Cash flows from investing|activities|||||
|Dividends,<br>interests<br>and rents from investments||||19|18|
|Purchase oftangible assets||||(2)|(2)|
|Proceeds from sale ofinvestments||||137|177|
|Purchase ofinvestments||||(125)|(177)|
|Net cash used in investing|activities|||29|16|
|Change in cash and cash equivalents||in the|year|(90)|136|
|Cash and cash equivalents|at the beginning||ofthe year|321|185|
|Cash and cash equivalents|atthe end ofthe year|||231|321|





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||||0|«dtd|E|d|I|T|ti|U||nftd|Ed|FI|T|I I|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||d||F|d|F|||F|d|F|d|F|d|
|||||2021||ZOll||1022|||2021||2022||2021||
|||||f000|||f000||EOOO|||f000||f000||EOOD|
|Subscriptions|and|fees||107|||||107|||127||||127|
|Education||||570|||||570|||481||||481|
|||||677|||||677|||608|||||



## 

|||||Unmttnttod|Endo|mont|Total|U||tdtd|Ed|t|Ttl|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||F<br>d|F|d|F||I|d|F|d*|d|
|||||IOZI|2011||2022||2020||2020||2020|
|||||f000||f000|EOOO|||EOOO||f000|f000|
|Income|from|managed|portfolio|6||13|19|||6||1S|21|





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|NOTES TO THE ACCOUNTS (con|NOTES TO THE ACCOUNTS (con|NOTES TO THE ACCOUNTS (con|NOTES TO THE ACCOUNTS (con|NOTES TO THE ACCOUNTS (con|tinued|)|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|4.<br>Cost ofRaising Funds|||||||||||||||||||||||
|||||||||0|restricted||E de|ment||Tuel||0<br>nlud||Ed|t|||1st|
||||||||||Fn Ide||Fn|d||F|d||F<br>d|F|d|||F<br>d|
||||||||||1022||1021|||2012|||2021|2011||||aui|
||||||||||f000||6000||||f000||f000||6000|||EOOD|
|Investment|||management||fees|||||||||||||2|4||||
|5.<br>Cost of|Charitable|||Activities|||||||||||||||||||
|||||||0 ««itw|||Ed|I||Tls||||unrest|icted|Ende~e|I|T|I|I|
|||||||F|d||F|d||F|d|||Fll|dl|Fe 05||Fend|||
|||||||20ZZ|||2021|||1022||||ZEZZ||||2021|||
||||||||EOOD|||fOOD|||6000|||f000||f000|||f000||
|Education:|||||||||||||||||||||||
|Moderation|fees||||||45||||||45||||122|||||122|
|Development|and administration||||||200||||||200||||138|||||138|
|Bad debt|||||||15||||||15||||(8)|||||(8)|
|Total:|||||||260||||||260||||252|||||252|
|Governance:|||||||||||||||||||||||
|Secretary general||cost|||||160||||||160||||99|||||99|
|Presidential|and|VIP activity|||||||||||11||||32|||||32|
|Communications||and||website|||29||||||29||||33|||||33|
|Audit & Professional|||||||69||||||69||||52|||||52|
|Finance and|business|||support|||125||||||125||||91|||||91|
|Secretarial support|||||||60||||||60||||81|||||81|
|Membership|administration||||||5||||||5||||5||||||
|Total:|||||||459||||||459||||393|||||393|
|Awards|||||||10||||||10||||20|||||27|
||||||||10||||||10||||20|||||27|
||||||||729||||||729||||665||7||672||



## 



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|Investments||||||
|---|---|---|---|---|---|
|||||2022|2021|
|Cost or valuation:||||EOOO|EOOO|
|At 1October 2021||||869|758|
|Additions||||125|177|
|Disposals||||(137)|(177)|
|Management|Charges|||(6)|(6)|
|Net investment|gains|||(64)|124|
|Cash||||(14)|(7)|
|At 30September||ZOZ2||773|869|
|Historical cost at||30September|2022|659|646|



|LF Lindsell Tr UK LF Lindsell Train<br>UK Eq Dis|7%|
|---|---|
|CT Inv Fds(Uk)lcvc<br>CT UK Eqty Income<br>L GBP Dis|7%|
|Artemis<br>Income Fd Artemis Income Fund<br>E Dis|7%|
|JPMorgan<br>Fund icvc )PM Us Eq Inc C2 GBP Net Di|6%|
|Spdr 58P500 Etf Tr 5&P500 Etf USD Dis|5%|
|Charities<br>Prop Fd Charities Property<br>Dis|5%|



||||2022|2021|
|---|---|---|---|---|
||||EOOO|EOOO|
|General|Fund||330|404|
|Endowment||Fund|571|620|
|Total at|30September 2022||901|1024|





## 

|NOTE|S TO THE AC|COUNTS|(continued)|||
|---|---|---|---|---|---|
|8.|Intangible|asset||||
|||||2022|2D21|
|||||EOOD|f000|
||Software|||3|2|
||Total at|30September 2022||3|2|
||Debtors|||||
|||||2022|2021|
|||||f000|f000|
||Trade debtors|||164|82|
||Accrued|income||4||
||Prepayments|||23||
|||||191|8!|
|1D.|Creditors: Amounts||falling due within one year|||
|||||2022|2021|
|||||f000|EOOD|
||Trade Creditors|||29|25|
||Accruals|||222|182|
||Bank loan|||3||
|||||254|21:|
|11.|Non-current|liabilities||||
|||||2022|2021|
|||||6000|f000|
||Bank loan|||43|41|
||||||4I|



## 

|Funds|Balance b/f|Income|Expenditure|Gains &Losses|Balance c/f|
|---|---|---|---|---|---|
||f000|f000|f000|6000|f000|
|Unrestricted|404|683|(731)|(26)|330|
|Endowment|620|13|(4)|(58)|571|
|Total|1,024|696|(735)|(84)|901|





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|||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
|||||||Funds|Funds|Funds|
|||||||General|Endowment||
|||||||EOOD|EOOD|6000|
||Investments|||||256|620|876|
||Net (liabilities)/assets||||||(449|(90|
||Net assets at 30September 2022|||||215|522|7gl|
|4.<br>Reconciliation<br>ofnet movement||||in funds to net cash flow||from operating|activities||
||||||||2022|2021|
||||||||EOOD|EOOD|
|Net income for the||year (as|per Statement|of Financial|Activities)||(122)|92|
|iuv|kv||||||||
|Depreciation|||||||||
|Losses (gains) on investments|||||||84|(112)|
|Dividends,|interests|and rents from investments|||||(19)|(18)|
|(increase)/decrease||in debtors|||||(101)|(35)|
|Increase/(decrease)||in creditors|||||39|192|
|Net cash|provided|by/(used|in) operating|activities|||119|119|



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||||2022|2021|
|---|---|---|---|---|
||||EOOD|EOOO|
|CILT (UK) —Business support|||60|60|
|CILT(UK) —Workspace|expenses||5||
|CILT Hong Kong (membership||administration)|5||
||||70||





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