||Page|
|---|---|
|Contents|1|
|Trustees'Report(includingPresident'sReport)|2to11|
|IndependentAuditor'sReport|12to15|
|StatementofFinancialActivities(includingIncomeandExpenditureAccount)|16|
|BalanceSheet|17|
|StatementofCashFlows|18|
|NotestotheAccounts|19to25|
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|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)|
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|FannyChan|HKExecutiveManager|1-1K|
|---|---|---|
|Sharon|UKCEO|UK|
|Kindleysides|||
|PaulAdams|UKCEO|UK|
|UsmanShuaibu|NextGenerationDeputyGlobal|NIG|
||Chairperson||
|CatherineLou|HeadofWCBC|AUS|
|RuthFrancis|InternationalEducationManager|UK|
||(Africa,MiddleEastandSouthAsia)||
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## 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
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|||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|
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||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|
##
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|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|
##
##
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||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|
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