2023-09-30-accounts

	Page
Contents	1
Trustees'Report(includingPresident'sReport)	2to11
IndependentAuditor'sReport	12to15
StatementofFinancialActivities(includingIncomeandExpenditureAccount)	16
BalanceSheet	17
StatementofCashFlows	18
NotestotheAccounts	19to25

Name	Designation	Country	Group(s)
PaulSainthouse	President	UK	CoT(Chair),IMC,IAC(non-voting)
			(Until31December2023)
ChiefTeete	PresidentElectandChairIMC	GH	CoT,IMC(Chair),IAC(non-voting)
OWUSU-NORTEY			(Until31December2023)
JanSteenberg	PresidentElectandChairIMC	UK	CoT,IMC(Chair),IAC(non-voting)
			(From01January2024)
IanJones	HonorarySolicitor	UK	CoT,IMC
DavidPugh	HonoraryTreasurer	UK	CoT,IMC,IAC(Chair)
JanSteenberg	HonorarySecretary	UK	CoT,IMC,IESC(Chair)
			(Until31December2023)
JennieMartin	HonorarySecretary	UK	CoT,IMC,IAC(non-voting)
			(From01January2024)
JennieMartin	IVPandTrustee	UK	CoT,IMC,IAC(non-voting)
			(Until31December2023)
JaneGreen	IVPandTrustee	UK	CoT,IMC
			(Until31December2023)
MarkArmitage	SecretaryGeneral	UK	CoT,IMC,IAC,IESC(non-voting)
			(Until05April2024)
RoxanaThomas	DirectorofFinance	UK	CoT,IMC,IAC
DorothyChan	AdvisortoTrustees	HK	CoT(non-voting),IMC
VickyKoo	WiLATGlobalChairperson	HK	CoT(non-voting),IMC,IESC
DoreenOwusu-	DeputyWiLATGlobalDeputy	GH	IMC
Fianko	Chairperson
IbrahimJibril	IVPAfricaandChairofAfricaForum	NIG	IMC
DrShehuUsman	IVPNigeria	NIG	IMC(Until15February2024)
Gidado
DrVenusLun	IVPEastAsia	HK	IMC
FionaKnight	IVPAustralasia	NZ	IMC
Niral	IVPSouthAsia	SL	IMC
Kadawatharatchie
PatrickCasey	IVPEuropeandMiddleEast	IRE	IMC
AndrewYoung	IVPAmericas	ECU	IMC
TsHajiRamliAmir	IVPSouthEastAsia	ML	IMC(Until31December2023)
ProfTsDr	IVPSouthEastAsia	ML	IMC(From1January2024)
MuhammadZaly
Shah
FinbarrCleary	DevelopmentChairmanIBF	IRL	IMC(Until31December2023)
AbiSofian	DeputyDevelopmentChairmanIBF	ML	IMC(non-voting)

FannyChan	HKExecutiveManager	1-1K
Sharon	UKCEO	UK
Kindleysides
PaulAdams	UKCEO	UK
UsmanShuaibu	NextGenerationDeputyGlobal	NIG
	Chairperson
CatherineLou	HeadofWCBC	AUS
RuthFrancis	InternationalEducationManager	UK
	(Africa,MiddleEastandSouthAsia)

Forvis Mazars LLP

Forvis Mazars LLP (Jun 25, 2024 17:02 GMT+1)

f r and on behalf of Forvis Mazars LLP

Jun 25, 2024

		Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
		Funds	Funds	Funds	Funds	Funds	Funds
	Note	2023	2023	2023	2022	2022	2022
Incomeandendowmentsfrom:		£000	£000	£000	£000	£000	£000
Charitableactivities	2	820		820	677	-	677
Investments	3	7	16	23	6	13	19
Totalincome		827	16	843	683	13	696
Expenditureon:
Raisingfunds	4	1	4	5	2	4	6
Charitableactivities	5	763	0	763	729	0	729
Totalexpenditure		764	4	768	731	4	735
Netsurplus(deficit)before
investmentgains		63	12	75	(48)	9	(39)
Netgains/(losses)on
investments		5	15	20	(26)	(58)	(84)
Transferbetweenfunds			....
Netsurplus/(deficit)		68	27	95	(74)	(49)	(123)
Reconciliationoffunds
Fundsboughtforward
01October2022		329	572	901	403	621	1,024
Fundscarriedforward
30September2023		397	599	996	329	572	901

15 June 2024

	2023	2022
	£000	£000
Cashflowsfromoperatingactivities
Netcashusedinoperatingactivities	106	(119)
Cashflowsfrominvestingactivities
Dividends,interestsandrentsfrominvestments	22	19
Purchaseoftangibleassets	-	(2)
Proceedsfromsaleofinvestments	(144)	137
Purchaseofinvestments	139	(125)
Netcashusedininvestingactivities	17	29
Changeincashandcashequivalentsintheyear	123	(90)
Cashandcashequivalentsatthebeginningoftheyear	231	321
Cashandcashequivalentsattheendoftheyear	354	231

	Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	2023	2023	2023	2022	2022	2022
	£000	£000	£000	£000	£000	£000
Subscriptionsandfees	137		137	107	-	107
Education	683		683	570		570
	820		820	677		677

	Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	2023	2023	2023	2022	2022	2022
	£000	£000	£000	£000	£000	£000
Incomefrommanagedportfolio	7	16	23	6	13	19

		Unrestricted	Endowment	Total	Unrestricted	Unrestricted	Endowment	Total
		Funds	Funds	Funds	Funds		Funds	Funds
		2023	2023	2023	2022		2022	2022
		£000	£000	£000	£000		£000	£000
Investmentmanagementfees		1	4	5		2	4	6
5. CostofCharitableActivities
	Unrestricted	Endowment	Total		Unrestricted	Endowment		Total
	Funds	Funds	Funds		Funds		Funds	Funds
	2023	2023	2023		2022		2022	2022
	£000	£000	£000		£000		£000	£000
Education:
Moderationfees	117		117		45			45
Developmentandadministration	185		185		200			200
Baddebt	9		9		15			15
Total:	311		311		260			260
Governance:
Headofficecost	208		208		160			160
PresidentialandVPactivity	10		10		11			11
Communicationsandwebsite	24		24		29			29
Audit&Professional	32		32		69			69
Financeandbusinesssupport	86		86		125			125
Secretarialsupport	30		30		60			60
Conventionexpenses	42		42
Membershipadministration	10		10		5			5
Total:	442		442		459			459
Awards	10		10		10			10
	10		10		10			10
	763		763		729			729

7.	Investments
		2023	2022
	Costorvaluation:	£000	£000
	At1October2022	773	869
	Additions	144	125
	Disposals	(139)	(137)
	ManagementCharges	(6)	(6)
	Netinvestmentgains	29	(64)
	Cash	(4)	(14)
	At30September2023	797	773
	Historicalcostat30September2023	646	659

Thesegregatedfunds	aremanaged	onadiscretionarybasisandareheldtoprovideanincomeand
capitalinvestmentreturnforCILT.Theassetallocationoftheportfolioat30September2023was:-
	£000
OverseasEquities	377	(47%)
UKEquities	243	(30%)
FixedInterest	93	(12%)
Infrastructure	44	(5%)
Property	40	(5%)
Cash	4	(1%)

WSLindsellTrUKWSLindsellTrainUKEqDis	8%
ArtemisFdMgrsLtArtemisIncomeFundEDis	7%
SpdrS&P500EtfTrS&P500EtfUSDDis	6%
JPMorganFundIcvcJPMUsEqIncC2GBPNetDi	5%
JupiterUTMngrsJupiterUKSpISitnsXGBP	5%
VanguardFundsPlcS&P500UcitsEtfUSDDis	5%
BrownAdvisoryFdsBWNAdvUsSustGthSiGBP	5%

	2023	2022
	£000	£000
GeneralFund	398	330
EndowmentFund	598	571
Totalat30September2023	996	901

		2023	2022
		£000	£000
	Software	3	3
	Totalat30September2023	3	3
9.	Debtors
		2023	2022
		£000	f000
	Tradedebtors	114	164
	Accruedincome	5	4
	Prepayments	4	23
		123	191
10.	Creditors:Amountsfallingduewithinoneyear
		2023	2022
		£000	£000
	TradeCreditors	16	29
	Accruals	228	222
	Bankloan	10	3
		254	254
11.	Non-currentliabilities
		2023	2022
		£000	£000
	Bankloan	27	43
		27	43

Funds	Balanceb/f	Income	Expenditure	Gains&Losses	Balancec/f
	£000	£000	£000	£000	£000
Unrestricted	330	827	(764)	5	398
Endowment	571	16	(4)	15	598
Total	901	843	(768)	20	996

	Unrestricted	Restricted	Total
	Funds	Funds	Funds
	General	Endowment
	£000	£000	£000
Investments	215	571	786
Net(liabilities)/assets	(13)	27	14
Netassetsat30September2023	202	598	800

	2023	2022
	£000	£000
Netincomefortheyear(asperStatementofFinancialActivities)	94	(122)
Adjustmentsfor:
Depreciation	1
Losses(gains)oninvestments	(19)	84
Dividends,interestsandrentsfrominvestments	(22)	(19)
(Increase)/decreaseindebtors	68	(101)
Increase/(decrease)increditors	(16)	39
Netcashprovidedby/(usedin)operatingactivities	106	(119)

	2023	2022
	£000	£000
CILT(UK)—Businesssupport	60	60
CILT(UK)—Workspaceexpenses	14	5
CILTHongKong(membershipadministration)	9	5
	83	70