2025-09-30-accounts

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Annual Report and Financial Statements The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 Financial Year Ended 30 September 2025

The World in Motion

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

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The	1 About Us 3
	2 Trustees’ Report (including President’s Report) 6
	3 Independent Auditor’s Report 22
	Chartered Institute of Logistics and Transport
	5 Statement of Cash Flows 27
	6 Notes to the Accounts 28

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1 About us

The Chartered Institute of Logistics and Transport is the leading professional body for everyone who works in supply chain, logistics and transportation.

We are a global family, representing professionals at all levels across all sectors, dedicated to giving individuals and organisations access to the tools, the knowledge and the connections vital to success in the logistics and transport industry.

Founded in 1919 and granted a Royal Charter in 1926, our Institute was established to improve industry practices and nurture talent. As we mark 100 years of our Royal Charter, we now support over 33,000 members across more than 100 countries. Through our educational suite, our strong community and our commitment to high standards, we help professionals at all levels to develop their careers and access better jobs.

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Where we operate

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Middle East &
Central Asia
35 Europe 2
1 15 Saudi Arabia
1 UK
21 16 Qatar
2 Ireland
Americas 24 19 20 23 22 East Asia 17 UAE (Dubai)18 Oman
39 Canada
25 32 China 19 Turkmenistan
The Chartered Institute of Logistics and Transport | 40 USA (Houston) 36 Annual Report and Accounts | Reg No. 313376 14 15 1617 18 26 27 32 33 Hong Kong 34 Macao 20 Uzbekistan21 Kazakhstan
35 Korea
5 22 Tajikistan
6
Africa 3 4 28 29 36 Taiwan 23 Kyryzstan
13 30 24 TŰrkiye
3 Côte D'Ivoire
South Asia 31
CILT operates through a global network of branches and 4 Ghana 12 25 Pakistan
territories, supporting membership 5 Togo 11 26 India
and professional development 6 Nigeria 7 9 10
27 Bangladesh
at a national and regional level. 7 Namibia 33
28 Sri Lanka
Education is delivered locally 8
8 South Africa
through branch led provision
and accredited training partners, aligned to CILT’s international 9 Zimbabwe10 Mauritius 29 Malaysia South East Asia 34
standards and qualifications 11 Uganda 30 Singapore Oceania
framework.
12 Tanzania 31 Indonesia 37 Australia
13 Rwanda 38 New Zealand
14 Egypt
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Institute Governance Structure

Founding Charter 1926

Council of Trustees (CoT) International Council (IC)

International Management Committee (IMC) Intl Education Standards Intl Membership Standards Committee (IESC) Committee (IMSC)

International Audit Committee (IAC)

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2 President’s Report

have shown along the way. Our work together is a proof that we are indeed #StrongerTogether.

It is always a thrilling opportunity to account for our stewardship and use the opportunity to spotlight some of the activities and decisions we have made over the last year to build on our “Stronger Together” brand.

Africa Forum

The 18th Annual CILT Africa Forum was held at Kigali, Rwanda from 28th to 30th April 2025 under the theme: “Sustainable Logistics and Green Transport Solutions for Africa”. CILT International supported Rwanda to host yet another tremendous event that hosted policymakers, industry leaders, Annual Report and Accounts | Reg No. 313376 Academics and CILT members across the African continent and beyond.

I am happy to announce that we continue to make progress in fulfilling our core mandate of promoting the arts and science of Logistics and Transport and we now have branches/territories in 36 Countries, and with presence in over 100 countries with over 33,000 members.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 Academics and CILT members across These strides continue to flourish the African continent and beyond. through our ongoing support to member The forum featured keynote speeches, countries in carrying out innovative initiatives to facilitate our core mandate case studies and expert led indepth discussions on the challenges of promoting the Arts and Science and innovations shaping the future of Logistics and Transport, several of sustainable logistics and green initiatives by our member countries transport in Africa. including the International Convention and the Africa Forum were supported to I personally took the opportunity to widen and deepen the reach of the CILT hold side meetings with the Ministry of community.

The forum featured keynote speeches, case studies and expert led indepth discussions on the challenges and innovations shaping the future of sustainable logistics and green transport in Africa.

I personally took the opportunity to hold side meetings with the Ministry of Transport in Rwanda and explored some opportunities with some institutions and also expansion of our programs into Djibouti, Botswana and Eswatini.

We have achieved so much this year and it has been a great privilege for me to lead CILT International through this chapter of its history, and I truly appreciate all for the trust, energy and commitment the CILT community

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International Convention

that no one region or individual could achieve alone.

Our landmark International Convention hosted by CILT Sri Lanka in Colombo, from 15th to 17th September at the prestigious Cinnamon Life under the theme: “Future Ready Logistics: Embracing Change and Driving Sustainability” stands out as a true celebration of collaborative spirit, bringing together members, policy makers, partners and industry leaders from across the world for an extraordinary programme of insights, innovation, and connection to shape the industry’s future.

The World in Motion Magazine

We launched our first ever global magazine known as “The World in Motion”, available in English and Mandarin, highlighting leadership, innovation and best practices across our international network and positioning CILT as a thought leader and giving members and partners a platform for sharing ideas and innovation. Inside this magazine, you will find Annual Report and Accounts | Reg No. 313376 perspectives from every corner of our profession – from established leaders to emerging innovators – all showing how partnership drives positive change. I bet it is a must read for everyone who has interest in Supply Chain, Logistics and Transport.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 perspectives from every corner of our The expert-led presentations covered profession – from established leaders to Artificial Intelligence applications, emerging innovators – all showing how Renewable Fuels Adoption and partnership drives positive change. I bet Diversity, Equity and Inclusions it is a must read for everyone who has initiatives.

Alongside it, we launched the Global Rail Group to unite expertise across a sector vital to sustainable mobility.

I will encourage members to send their articles to marketing@ ciltinternanational.org to be published in the journal which is published biannually.

Furthermore, through partnership with the University of Sulaimani and the Emergency Logistics Team, our internationally recognized qualifications are now being delivered in the Kurdistan Region of Iraq.

Global Day of Supply Chain, Logistics and Transportation

Together, these milestones capture what collaboration makes possible – progress

We have established the first International Day of Supply Chain,

Logistics and Transportation which is celebrated every year on the 3rd of November. The 2nd Global Day of Supply Chain, Logistics and Transportation on 3 November 2025, coincided with CILT’s 106th anniversary. The CILT community was invited to engage with ideas, reflect on their own contributions and carry forward the collaborative spirit that defines who we are as CILT.

International Conference in China

Following the success of the 2024 International Convention in Langfang, near Beijing, China in conjunction with the Regional Government of Hebei, there was a delegation that held a meeting in London to ensure that there is an annual conference in Langfang as a logistics hub.

Subsequently the conference happened from June 16th to 18th, 2025 themed “Digital and Intellectual Integration to Promote Industry Change, Cost Reduction and Efficiency in Logistics to Help High-Quality Development”, upholding the commitment of gathering in Langfang every June. The conference multiple thematic sessions, authoritative releases and multi-dimensional field visits focused on ideological exchanges

and pragmatic cooperation.

Women in Logistics & Transport (WiLAT)

WiLAT released its Values in Action ESG Report 2025 at the International Convention in Colombo, Sri Lanka. A landmark publication showcasing how women across the global Supply Chain, Logistics and Transportation sectors are leading transformation in environmental leadership, social inclusion, entrepreneurship and governance. The report highlighted pioneering green practices in ports and airports, inclusive hiring initiatives championing neurodiversity, and the vital role of women entrepreneurs in driving innovation.

There are several initiatives undertaken by country specific WiLAT groups through the support of CILT International.

Next Generation

The Next Generation (NG) continues to look into the future and inspire the next generation of leaders in the Supply Chain, Logistics and Transportation sectors.

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Their operational guidelines have been commissioned and fully in operational.

Next Generation welcomed their new Global Chairperson, Ms Dianah Nassimbwa who also serves as an Advisor to the Council of Trustees.

The NG launched their new logo at the International convention in Sri Lanka and their workshop was one of the highlights of this year’s convention. The focus was truly inspiring and demonstrated CILTs commitment to developing future industry leaders.

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“Boots on the Ground”

I continued with my initiative referred to as “Boots on the Grounds in Africa” however this time extended it beyond Africa to strengthen existing presence and also improve our visibility.

These visits continue to be very impactful and results oriented as beyond forging strategic partnerships also serve as an encouragement to member countries and reassures them of CILT International’s support and recognition for the work that they do. The countries visited were Ghana, South Africa, Nigeria, Malaysia, Turkey.

Chief Teete OWUSU-NORTEY Volunteer of the Month

So far, since the introduction of this initiative a year ago to recognise the outstanding efforts of our Volunteers who keep making exceptional sacrifices to power CILT, eight (8) individuals have been recognised and the impact of these recognitions have been felt through the increasing efforts of the recipients and interests from other volunteers.

I want to use this opportunity to acknowledge and appreciate the tremendous work and sacrifices of our Council of Trustees, International Secretariate, Branches, Forums and Volunteers whose work strengthens the global network and reinforces the “Stronger Together” spirit.

At CILT we build, promote and protect our sector across the globe and we strive to work together with partners all over the world to shape the future of supply chain, logistics and transportation. This is what we are committed to do.

Truly we are “STRONGER TOGETHER”. ! A)

Chief Teete OWUSU-NORTEY FCILT President – CILT International

27 February 2026

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Global Activities

The World in Motion Global Magazine

CILT International Convention 2025

The CILT International Convention CILT International launched The World The Chartered Institute of Logistics and Transport | 2025, held in Colombo, brought Annual Report and Accounts | Reg No. 313376 in Motion, a new biannual digital together CILT members, leaders magazine designed to strengthen and partners from across the global global engagement and showcase network to connect, share insight thought leadership across supply and recognise excellence under the chain, logistics and transportation. theme Future Ready Logistics. The The publication features insight from Convention included international across the international network, knowledge exchange across highlighting innovation, professional sustainability, digital transformation excellence and regional perspectives, and talent development, alongside the and supports CILT’s wider commitment CILT Awards recognising achievement to raising the profile and influence of across four strategic pillars and the profession worldwide. the launch of new global initiatives, reinforcing the Convention’s role as a cornerstone event for collaboration and professional advancement across the CILT community.

CILT Ghana 60th Anniversary

CILT Ghana marked its 60th anniversary, celebrating six decades of leadership and contribution to the development of logistics, transport and supply chain across Ghana and beyond. The milestone was attended by senior government representatives, industry leaders and CILT International President Chief Teete OWUSUNORTEY, whose own leadership journey reflects the branch’s long standing role in nurturing global talent. Over six decades, CILT Ghana has produced a strong pipeline of leaders now holding senior positions across the international Institute, underlining its enduring influence, credibility and contribution to professional excellence within the global CILT network.

CILT Türkiye Sustainability and Inclusion Initiatives

CILT Türkiye continues to strengthen its national and international profile through strategic partnerships, academic collaboration and participation in major industry forums, positioning itself as a driver of sustainability, inclusion and innovation in logistics and transport. Working with universities, industry bodies and international partners, the branch has contributed to initiatives spanning sustainable port operations, talent development and gender inclusion, reinforcing its role within the global CILT network as a forward looking and influential branch.

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Global Activities (Cont.)

Next Generation Brand Identity

WiLAT Global Newsletter and Leadership Initiatives

CILT International launched the first dedicated brand identity for Next The Chartered Institute of Logistics and Transport | Women in Logistics and Transport Annual Report and Accounts | Reg No. 313376 Generation, its global forum for early (WiLAT) publishes Wings of Change, career professionals, strengthening a quarterly global newsletter sharing visibility, recognition and connection insight and achievements from across across the international network. its international network. In parallel, Introduced at the International WiLAT advances research, recognition Convention 2025, the new identity and leadership development globally, aligns with the CILT master brand including collaboration with the while giving Next Generation a clear University of Hong Kong on a Gender and unified presence, supporting talent Sensitive Public Transport Services development, leadership pathways and Survey, the Star of WiLAT initiative global engagement for the future of supporting emerging female leaders, the profession. and delivery of ELEVATE, its flagship

Women in Logistics and Transport (WiLAT) publishes Wings of Change, a quarterly global newsletter sharing insight and achievements from across its international network. In parallel, WiLAT advances research, recognition and leadership development globally, including collaboration with the University of Hong Kong on a Gender Sensitive Public Transport Services Survey, the Star of WiLAT initiative supporting emerging female leaders, and delivery of ELEVATE, its flagship leadership programme, strengthening inclusive practice and leadership capability across the profession.

CILT Singapore, CILT BUZZ Publication

CILT Singapore publishes CILT Buzz, a monthly digital publication providing insight and commentary on emerging issues affecting supply chain, logistics and transportation in Singapore and the wider region. The publication supports professional awareness and industry dialogue by exploring themes such as digital transformation, resilience, governance and innovation, reinforcing CILT Singapore’s role as an active contributor to thought leadership within the global CILT network.

Volunteer of the Month Recognition

CILT International introduced the Chief Teete OWUSU-NORTEY Volunteer of the Month initiative to recognise and celebrate outstanding voluntary contributions across the global network. Launched as a legacy initiative of Chief Teete OWUSUNORTEY FCILT, the programme highlights the vital role volunteers play in supporting CILT’s mission, strengthening engagement, visibility and appreciation for service across branches, forums and communities worldwide.

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Council of Trustees (CoT), Advisors to CoT & Principal Employees

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Name Designation Information Country Groups
CoT (Chair), (From 01 January 2024)
Chief Teete OWUSU-NORTEY FCILT Trustee and President Resigned 31 December 2025 GH
IMC, IAC (non-voting)
Professor Michael Bourlakis FCILT Trustee and IVP Appointed 1 January 2024 UK CoT, IMC, IAC (non-voting), IESC (Chair) (from 01 January 2024)
Ian Jones Trustee and Honorary Solicitor Resigned February 2025 UK CoT, IMC (resigned Feb 2025)
Trustee and Honorary Treasurer Resigned 31 Decemer 2025 CoT, IMC, IAC (Chair) (From 15th June 2024)
Paul Macdonald CMILT UK
Secretary General Appointed 1 January 2026
CoT, IMC (from April 2025)
Steven Meyerhoff FCILT Trustee and Honorary Solicitor Appointed 24 April 2025 UK
IAC (Vice-Chair) (From
Trustee and President Appointed 1 January 2026
CoT, IMC (Chair), (From 01 January 2024)
Jan Steenberg FCILT UK
Trustee and President Elect Resigned 31 December 2025 IAC (non-voting)
Elizabeth Gilliard FCILT Trustee Appointed 16 June 2024 UK CoT
The Chartered Institute of Logistics and Transport | Jennie Martin FCILT Trustee and Honorary Secretary Annual Report and Accounts | Reg No. 313376 Resigned February 2025 UK CoT, IMC, IAC (non-voting) (resigned February 2025)
Trustee and Honorary Secretary Appointed 15 September 2025 CoT, IMC (from September 2025)
Vicky Koo FCILT HK
Advisor Resigned 14 September 2025 CoT (non-voting), IMC, Global WiLAT Chairperson
Dr Dorothy Chan FCILT Advisor & Past President HK CoT (non-voting), IMC
Dianah Nassimbwa MILT Advisor Appointed July 2025 UG CoT (non-voting), IMC (from July 2025)
Romesh David FCILT Trustee and President Elect Appointed 1 January 2026 SL CoT, IMC (Chair) (From 01 January 2026)
CoT, IMC, IAC, IESC (non-voting) (from June 2024 to February
Sharon Kindleysides FCILT Secretary General June 2024 to February 2025 UK
2025)
CoT, IMC, IAC, IESC (non-voting) (from July 2025 to November
Ian Smith FCILT Secretary General July 2025 to November 2025 UK
2025)
CoT, IMC, IAC (also Acting Secretary General February 2025 to
Roxana Glover Director of Finance & Operations UK
July 2025 and from November 2025)
David Pugh MILT Trustee and Honorary Treasurer Resigned June 2024 UK CoT, IMC, IAC (Chair) Resigned June 2024
Ruth Francis Director of Education & Membership UK IESC (non-voting), IAC (non-voting) (from November 2025)
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Resigned Members

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Members of standing committees of the board

Name	Designation	Country	Groups
Kim Hassall	IVP Australasia	AU	IMC (from October 2024)
Niral Kadawatharatchie	IVP South Asia	SL	IMC
Andrew Young	IVP Americas	ECU	IMC
Kelvin Leung	IVP East Asia	HK	IMC (from November 2024)
Prof Ts Dr Muhammad Zaly Shah	IVP South East Asia	ML	IMC
Ibrahim Jibril	IVP Africa and Chair of Africa Forum	NG	IMC
e Chartered Institute of Logistics and Transpor Patrick Casey	t	**Annual Report and Accounts	Reg No. 313376** IVP Europe and Middle East
Dr Venus Lun	IVP East Asia	HK	IMC (end of tenure October 2024)
Fiona Knight	IVP Australasia	NZ	IMC (end of tenure September 2024)
Doreen Owusu-Fianko	Deputy WiLAT Global Deputy Chairperson	GH	IMC
Helen Hardy	UK CEO (Interim)	UK	IMC (non-voting) (From February to September 2025)
Usman Shuaibu	Next Generation Deputy Global Chairperson	NG	IMC (non-voting) (stepped down July 2025)

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Resigned Members

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Advisors, Auditors and Bankers

Th	Advisors	Advisors
	Auditors	Bishop Fleming Audit Limited Chartered Accountants 10 Temple Back Bristol BS1 6FL
	Bankers	Barclays Bank plc 8 Market Place, Kettering, Northants, NN16 0AX, UK
	e Chartered Institute of Logistics and Transpor Investment Managers	t

Registered office and principal address from January 2025: The Chartered Institute of Logistics and Transport 167-169 Great Portland Street London W1W 5PF United Kingdom

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Trustees’ Report

including global supply chains, freight transport, passenger transportation, international trade and infrastructure and planning. Their professional activities utilise multi-modal types of transport, engage with commercial and public sector organisations, many across international borders. Our members gain knowledge by pursuing accredited professional educational programmes that lead, with appropriate management experience, to internationally recognised professional qualifications.

The trustees present their report and the audited financial statements for the 12 month period ended 30 September 2025.

The financial statements comply with the Institute’s Charter and Byelaws, the Charities Act 2011 & 2022 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland (FRS 102) which was effective from 1 January 2019.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 We seek to:

› Supply excellent people throughout their career to our professions

Purpose

Our Royal Charter states our purpose is to “promote, encourage and coordinate the study and advancement of the science and art of transport and logistics in all its forms”, and we do so internationally in more than 36 countries.

› Share best practice and knowledge with fellow professionals
› Support lifelong learning with continuing professional development
› Work with accredited educators and trainers to provide learning and practical research
› Promote holistic logistics and transport policy to shape our communities and economies

Activities

To achieve our purpose, we provide knowledge on a global basis to people entering, working and connecting with the logistics, supply chain and transportation professions. Our members work in a number of areas

Financial Review

The Institute generated an unrestricted net income before investments of

£348.9k, on a comparable income of £1,200.3k, a margin of 29%. After investments and including restricted funds the total surplus for the year was £409.6k. Income from education continues to be the main revenue stream at £1,060.6k (£957k previous year). This was largely led by growth in newer geographical markets.

Subscription and fees income was £126.7k (2024 £147k) operating costs were £864.3k (2024 £917.4k), partially reflecting a move to self-sufficiency for back office support costs. Additional travel costs are the practical reality of an International President who lives far from international travel hubs.

Total Funds as at 30th September 2025 were £1,706.9k (2024 £1,297.2k), of which Unrestricted Funds were £981.9k (2024 £619k). This represents >6 months of aggregated costs, beyond the upper end of Reserves Cover. Closing bank on hand was £746.1k (2024 £597.8k) an increase of £148.3k +24.8%. Positioning CILT well for planned future investment in strategic improvement.

Status and trustees’ meeting

The Chartered Institute of Logistics and Transport (CILT) is an incorporated

charity governed by its Royal Charter and Byelaws. It is registered as a charity in England and Wales, registered number 313376. The trustees of CILT, appointed by the Council, hold the following offices: President, PresidentElect as Chair of the International Management Committee, two UK domiciled Vice Presidents, Honorary Secretary, Honorary Solicitor and Honorary Treasurer. The trustees must meet a minimum of once a year, but in practice meet at least quarterly. The governing documents of CILT are its Royal Charter and Byelaws.

Changes to these documents require the approval of the Privy Council, subsequent to the agreement of the voting members of CILT. The Royal Charter was granted in 1926. The byelaws were most recently revised in April 2010.

The overall governing body of CILT is the Council, known as the Council of Trustees (CoT), which comprises the President, the President-Elect, two International Vice Presidents resident in the UK, the Honorary Treasurer, Honorary Solicitor and Honorary Secretary. The President chairs the CoT.

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CoT appoints the President and

Key Management Personnel

President-elect, each of whom serves a two year term of office and approves the appointment of the International Vice-Presidents, who ordinarily serve a three-year term, which the CoT may agree to extend. CoT also appoints the Honorary Trustees who serve threeyear terms, which can be extended for another term.

The Secretary-General, Director of Finance and Global Educational Strategy Lead comprise the key management personnel of CILT in charge of directing and controlling, running and operating the charity on a day-to-day basis. The remuneration for the Secretary General is set at the annual budget review and agreed by both the IAC and IMC. All trustees give of their time freely and no trustee received remuneration in the year.

The terms seek to follow the guidance trustees give of their time freely and no of UK Charities practice and where trustee received remuneration in the terms are extended this is discussed year. and aligned for the benefit of the The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 Institute.

International Council

The two Non-voting advisors continue as part of the CoT and a review is looking at whether this should be amended.

International Council comprises representatives of the Territorial Organisations (TOs) and International Branches (IBs) established around the world. The International President chairs the International Council. It is the forum for the representatives of all members of CILT to;

The trustees maintain an up-to-date knowledge of the responsibilities of being a charity trustee and CILT carries indemnity insurance in respect of their role as trustees. CILT’s liabilities are limited in the Charter and Byelaws to the level of £1 per member. New trustees have to pass the ICAEW Course on the Duties and Responsibilities of a Charitable Trustee as part of their induction.

› Develop CILT’s global strategy;

› Establish professional membership and ethical standards;

› Establish international standards for professional education and continuing professional development;

› Confirm the appointments of the Council of Trustees.

It meets once a year at CILT International Convention and met in September 2025 in Colomba, Sri Lanka.

International Management Committee (IMC)

IMC is charged with implementing the strategy developed by the International Council and ensuring the effective administration of CILT’s day-to-day business. IMC comprises the President and President-elect, the International Vice Presidents and the Honorary Officers. The Secretary-General is a non-voting member of IMC. The IMC must meet a minimum of twice per year but in practice meets quarterly. The President-elect chairs the IMC.

International Audit Committee (IAC)

The IAC is charged with the oversight of CILT’s activities to ensure they meet the requirements of charity law, financial management and governance best practice and comply with statutory accounting requirements. It is also responsible for the management of CILT’s funds and investments. IAC

meets a minimum of four times per year in addition to meeting the CILT’s auditors. The meetings reflect the cycle of Trustee meetings ensuring there is a flow toward the quarterly CoT. The Honorary Treasurer chairs the IAC. The new Honorary Treasurer, Paul Macdonald, was appointed in June 2024, replacing Mr David Pugh. Mr Macdonald was appointed Secretary General on 1 January 2026, and accordingly stood down as Honorary Treasurer as at 31 December 2025.

International Education Standards Committee (IESC)

The IESC is the governing body for education internationally ensuring the aims and objectives of the organisation in creating programmes and materials to deliver training and education in logistics and transport in global markets. It is responsible for setting standards on education including ensuring accreditation, moderation, examination and certification standards meeting defined and appropriate quality standards. A Trustee chairs the IESC and is currently Prof. Michael Bourlakis.

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International Membership Sub Committee (IMSC)

(Xero); outsourced payroll services and taken control of the revenue and payment banking cycles.

The IMSC is the governing body for membership standards internationally. The other principal officer is the It ensures that membership standards Director of Finance. In this capacity, are defined and adhered to globally. they report on a day to day basis to Individual membership questions on the Secretary-General and attends all interpretation and on adherence to relevant Trustee meetings, including standards can be referred to the IMSC. the CoT, IMC and IAC. The Director of The Membership Guidelines document Finance is accountable to the CoT via is the reference document for the the Honorary Treasurer. organisation, and this is an area the trustees are looking to strengthen in the coming year. As yet it has not become The International Family The Chartered Institute of Logistics and Transport | established. Annual Report and Accounts | Reg No. 313376 CILT has members working in more than 100 countries. There are like-minded organisations formed by our members in The International Secretariat 36 countries. These are either territorial The CoT appoints a Secretary General, organisations or branches formally who is the chief executive officer of recognised by the Council of Trustees. CILT. The Secretary General is charged They are responsible for representing with managing the affairs of CILT and the interests of CILT and its members in the Secretariat and is accountable to the relevant geographical territory.

The CoT appoints a Secretary General, who is the chief executive officer of CILT. The Secretary General is charged with managing the affairs of CILT and the Secretariat and is accountable to the CoT via the President.

The delegated powers and responsibilities of the Territorial Organisations are set out in CILT’s Byelaws. These organisations are legally and financially independent of CILT. However, the trustees retain the power to withdraw recognition should the conduct of the territorial organisation be in breach of, or inconsistent with,

Significant support is provided by certain territorial organisations, namely;

CILT UK notified CILT in September 2024 that it was withdrawing from providing a variety of back office support services. By December 2024 CILT had taken these services on board and implemented a new finance system

CILT’s Royal Charter and Byelaws.

Institute Branches are established by resolution of the Council of Trustees, which will determine the nature and extent of any delegation of powers on a case-by-case basis, with the Secretary-General having oversight of their activities. Both the Territorial Organisations and CILT Branches may use the word “Chartered” in their name and use the International brand and logo of CILT, subject to the Byelaws.

Public Benefit

In setting the objectives, planning the activities, and reporting on the performance of the charity the trustees have given careful consideration to the Charity Commission guidance on public benefit. Efficient logistics and transport operations have a positive impact on all our communities. Mobility facilitates trade, provides access to services and improves communications. By disseminating knowledge about logistics and transport, we have a constructive influence on communities, business and social activities.

We also ensure our members, and the diverse communities we serve, are more aware of the responsibilities our

professions bear for the environmental impact of logistics and transport activities and the contribution we can make to sustainable development – maximising efficiency to minimise carbon footprint and costs.

CILT made donations to Transaid to support Supply Chain, Logistics and Transportation initiatives in Africa. CILT has also established the Timothy Waller memorial fund, also for charitable activities.

At the end of September 2025 there were 5,940 students in total who enrolled in CILT education programmes, with a total of 5,150 exiting student receiving certification (qualifications and CPD programmes). Enrolments for full CILT International Professional qualifications amounted to 5,183 learners during the year with the remaining 757 participants taking short courses, endorsed programmes and other training associated with CILT. At September 2025, there were 102 accredited training partners globally across 36 countries with all 102 of these actively promoting and delivering CILT accredited programmes.

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(Cont.) Trustees’ Report

Key markets for education and training continued to be the Kingdom of Saudi Arabia, United Arab Emirates and India - visits were made to better build relationships with education providers and to promote the role of the Institute on a global scale. Significant work also took place with Branches across the African continent to centralise examinations and improve quality assurance of local and international standards.

Education

Education is a core means by which CILT meets its charitable objective. As a Professional Body, education and training focuses on building capabilities and skills which can be directly applied in the workplace.

During the financial year 24/25, the African continent to centralise significant steps were taken to ensure examinations and improve quality that the CILT International education assurance of local and international offering was fit-for-purpose given the standards. innovations and trends emerging in the 2024-2025 very much set the standard industry. Through the re-established for the future approach of the Institute – International Education Standards a commitment to continual improvement The Chartered Institute of Logistics and Transport | Committee, priorities for development Annual Report and Accounts | Reg No. 313376 for education and training. and refresh were identified and agreed. These priorities were the result of Aspire is part of CILT (UK) and from a rigorous analysis of global needs; an international perspective is focused engaging with Branches, Territories primarily on supporting students of and Accredited Training Providers to humanitarian qualifications at present. better understand how the industry is Since strategic changes in CILT UK changing, and how CILT education must may affect Aspire, CILT has resolved change with it. An open call was issued to establish a Restricted Fund in to source high-quality designers for fiscal 2024-25 to continue this type of new educational materials focussing on charitable support. Artificial Intelligence, Automation and Sustainability, and the IESC provided professional review of draft materials Trustees’ Responsibilities Statement and standards. New module materials The Trustees are responsible for are expected to be rolled out in Q1 of preparing the Trustees’ report and the 2026. We thank the IESC members for financial statements in accordance with their professionalism, expertise and applicable law and United Kingdom challenge.

The Trustees are responsible 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

› select suitable accounting policies and then apply them consistently;

› observe the methods and principles of the Charities SORP (FRS 102);

› make judgments and accounting estimates that are reasonable and prudent;

› state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures 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 adequate accounting records that are sufficient to show and explain

the Charity’s transactions and 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 Royal Charter. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

› so far as that Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware, and

› that Trustee has taken all the steps that ought to have been taken as aTrustee in order to be aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.

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(Cont.) Trustees’ Report

The trustees have decided that free reserves will be targeted to fall within an acceptable operating range of a minimum of the equivalent of six months’ annual expenditure and a maximum of the equivalent of two years’ annual expenditure as disclosed in the latest audited accounts.

Auditors

The auditors, Bishop Fleming Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Risk Management

Going Concern

The Trustees monitor progress against After making appropriate enquiries, the the strategic objectives set out in the Trustees have a reasonable expectation plan that is reviewed at least annually. that the Charity has adequate resources The key risks identified are operational The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 to continue in operational existence for resilience and cyber-security.

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources Annual Report and Accounts | Reg No. 313376 to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Reserves Policy and Unrestricted Funds

Unrestricted funds, represented by the General Fund, are those utilised by the trustees without specific conditions imposed upon them except for the imperative that they are used for the furtherance of CILT’s charitable objectives.

The year-end general fund balance is £971k (vs 2024 £618k), which represents > 6 months of the Budgeted 2025 annual expenditure, and the trustees consider this level of reserves to be sufficient for the continuing operations of the charity. The trustees note that over 90% of the investments held can be realised into liquid funds within 24 hours.

These funds represent the free reserves of the charity. The trustees have considered the appropriate level of free reserves together with the incidence of costs within the General Fund.

Website

The trustees are responsible for the corporate and financial information included on the CILT website.

Endowment Funds

In November 2002, The Charity Commissioners for England and Wales approved a new endowment fund for CILT. Like its predecessors, income from the fund is used in the furtherance of CILT’s principal charity objective of education. Further details are set out in Note 16 to the accounts.

Investment Power and Policy

Our Royal Charter or Byelaws do not restrict CILT’s investment powers. We have granted discretionary powers to the investment manager, Investec Wealth and Investment. Investec Wealth and Investment have managed CILT’s investments since September 2011 and have been acquired by Rathbone’s end September 2023.

The investments are classified as fixed assets and are held to provide income to CILT with medium risk. To achieve this objective, the fund manager now

holds a diversified portfolio of suitable investments. Changes in the investment portfolio are set out in Note 11 to the accounts.

Auditors

Our new auditors Bishop Fleming were appointed at the AGM in September 2025.

Fundraising

The charity raises the bulk of its income from Educational activities, including student registration fees, Accreditation Fees and Levies on the various CILT Branches and membership related Territories around the world.

Going Forward

Our By-laws mean a change in the President International (Chair of Trustees) as at 1stJanuary 2026. Jan Steenberg, FCILT replaces our outgoing President Chief Teete OWUSU-NORTEY. who also automatically steps down from the board. Overleaf is a picture capturing this handover.

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(Cont.) Trustees’ Report

Our recently refreshed forward strategy is laid out on page 20 and will guide the institute for the next 5 years. Key projects include a global collaboration app for all members of CILT. A major step in being Fit for the next 100 years.

Vicky Koo Honorary Secretary to the Council of Jan Steenberg The Chartered Institute of Logistics and Transport | Trustees Annual Report and Accounts | Reg No. 313376 President - CILT International 27 February 2026 27 February 2026

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Introduction to our new President from 1st Jan 2026

From 1 January, Jan Steenberg FCILT assumes the role of President, with Romesh David FCILT appointed as President Elect. In this capacity, Romesh will support the President and governing bodies while preparing to assume the presidency at the conclusion of the next two year term. This structured, biennial transition ensures continuity of leadership, clear accountability and Annual Report and Accounts | Reg No. 313376 effective governance, supporting a smooth handover of responsibilities and sustained strategic momentum across the Institute.

Presidential Transition and Governance

In accordance with the Institute’s Royal President Elect. In this capacity, Romesh Charter and Byelaws, CILT operates will support the President and governing a two year presidential term, with bodies while preparing to assume the leadership transitions taking effect presidency at the conclusion of the on 31 December at the end of each next two year term. This structured, cycle. In this reporting year, Chief Teete biennial transition ensures continuity OWUSU-NORTEY FCILT concludes of leadership, clear accountability and his term as President, having led the The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 effective governance, supporting a Institute through a period of continued smooth handover of responsibilities and global engagement and development.

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Our Strategy

Our Purpose

Promote, encourage and co-ordinate the study and advancement of the science and art of transport, logistics and supply chain, in all forms. Facilitate and deliver the opportunity for education, experience, debate, the sharing of ideas and access to information to all (members, industry, academia etc) .

Our Goal

The leading professional organisation for all in the movements of people and goods

PROFESSIONAL STANDARDS

COLLABORATION

SUSTAINABLE GROWTH

  - **Enable knowledge acquisition and sharing across the membership and broader stakeholders**

Qualified Professional members
The Chartered Institute of Logistics and Transport | • Recognised Membership qualifications Annual Report and Accounts | Reg No. 313376
Continuous Professional Development

Strategic Pillars

Establish Seminars, Forums & Expert Groups to facilitate networking and collaboration
Development of relevant educational content and materials
Oversee Quality of Education provision
Contribute to Policy development – locally, regionally and globally
Support equal opportunities for all members
External cross sector collaboration
Digitally enabled
Bring on new geographies (CILT Int directly working with the IVPs)
Sustain & grow existing geographies
Grow the Expert Groups to cover all major topic areas
Develop Industry collaboration / contacts in markets
Develop and launch a global app to connect members
Digitally enabled

DNA and Culture

Stronger together, mutual respect

Governance Framework

“GUARDIANSHIP” of the Chartered Institute of Logistics & Transport; operating within relevant legal, statutory, regulatory & risk mitigation requirements. Secretariat operating model, working effectively and efficiently in support of the strategic pillars. Operating in a financially sustainable way.

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Independent Auditor’s Report

Opinion

› have been prepared in accordance with the requirements of the Charities Act 2011.

We have audited the financial statement Act 2011. of The Chartered Institute of Logistics and Transport (the ‘charity’) for the Basis for Opinion year ended 30 September 2025 which We conducted our audit in accordance comprise the Statement of financial with International Standards on Auditing activities, the Balance sheet, the (UK) (ISAs (UK)) and applicable Statement of cash flows and the law. Our responsibilities under those related notes, including a summary of standards are further described in the significant accounting policies. The Auditors’ responsibilities for the audit financial reporting framework that has of the financial statement section of been applied in their preparation is our report. We are independent of the applicable law and United Kingdom charity in accordance with the ethical Accounting Standards, including The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 requirements that are relevant to our Financial Reporting Standard 102 ‘The audit of the financial statement in the Financial Reporting Standard applicable in the UK and Republic of Ireland’ United Kingdom, including the Financial (United Kingdom Generally Accepted Reporting Council’s Ethical Standard, Accounting Practice). and we have fulfilled our other ethical

United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In our opinion the financial statement:

› give a true and fair view of the state of the charity’s affairs as at 30 September 2025 and of its incoming resources and application of resources for the year then ended;

Conclusions Relating to Going Concern

› have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial

statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the

responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the Annual report other than the financial statement and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statement does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is

materially inconsistent with the financial statement or our knowledge obtained

in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies

or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statement themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on Which We Are Required to Report By Exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)

Regulations 2008 requires us to report to you if, in our opinion:

› the information given in the Trustees’ report is inconsistent in any material respect with the financial statement; or

› sufficient accounting records have not been kept; or

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(Cont.) Independent Auditor’s Report

Auditors’ Responsibilities for the Audit of the Financial Statements

› the financial statement are not in agreement with the accounting records and returns; or

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

› we have not received all the information and explanations we require for our audit.

Our objectives are to obtain reasonable assurance about whether the financial statement as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ report that includes our opinion Reasonable assurance is a high level Annual Report and Accounts | Reg No. 313376 of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statement.

Responsibilities of Trustees

As explained more fully in the Trustees’ statement as a whole are free from responsibilities statement, the Trustees material misstatement, whether due to are responsible for the preparation of fraud or error, and to issue an Auditors’ the financial statement which give a report that includes our opinion true and fair view, and for such internal Reasonable assurance is a high level The Chartered Institute of Logistics and Transport | control as the Trustees determine is Annual Report and Accounts | Reg No. 313376 of assurance, but is not a guarantee necessary to enable the preparation of that an audit conducted in accordance financial statement that are free from with ISAs (UK) will always detect a material misstatement, whether due to material misstatement when it exists. fraud or error. Misstatements can arise from fraud

In preparing the financial statement, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting

irregularities, including fraud is detailed below:

› We have considered the nature of the sector, control environment and operational performance of the entity;

› We have considered the results of our enquiries with management and the trustees to their own identification and assessment of the risk of irregularities within the entity; and

› We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation.

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the areas of high risk to be in relation to revenue recognition. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on

provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act 2011 and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity’s ability to operate or to avoid a material penalty.

Our procedures to respond to risks identified included the following:

› reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

› reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of income;

› enquiring of Trustees and management and those charged with governance concerning actual and potential litigation and claims;

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(Cont.) Independent Auditor’s Report

›performing procedures to confirm material compliance with the requirements of its regulators;

not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

› performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

› reading minutes of meetings of those charged with governance and reviewing internal control reports; and

› in addressing the risk of fraud through A further description of our management override of controls, responsibilities for the audit of the testing the appropriateness of journal financial statement is located on the The Chartered Institute of Logistics and Transport | entries and other adjustments; and Annual Report and Accounts | Reg No. 313376 Financial Reporting Council’s website at: assessing whether the judgements www.frc.org.uk/auditorsresponsibilities. made in making accounting estimates This description forms part of our are indicative of a potential bias. Auditors’ report.

A further description of our responsibilities for the audit of the financial statement is located on the Annual Report and Accounts | Reg No. 313376 Financial Reporting Council’s website at:

www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ report.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert

Use of our Report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an Auditors’ report and for no other purpose.

to any indications of fraud or noncompliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Chris Trantham FCA For and on behalf of Bishop Fleming Audit Limited Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS1 6FL

Date: 11 March 2026 | 09:20 GMT

Bishop Fleming Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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Statement of Financial Activities For the year ended 30 September 2025

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 28 to 41 form part of these financial statements.

		Unrestricted	Endowment	Total	Total
		funds	funds	funds	funds
		2025	2025	2025	2024
	Note	£	£	£	£
Income and endowments from:
Charitable activities	3	1,187,377	-	1,187,377	1,104,141
Investments	4	12,921	18,074	30,995	29,892
Total income and endowments		1,200,298	18,074	1,218,372	1,134,033
Expenditure on:
Raising funds		1,229	4,030	5,259	5,825
Charitable activities		864,377	-	864,377	917,480
Total expenditure		865,606	4,030	869,636	923,305
Net income before net gains on
investments		334,692	14,044	348,736	210,728
Net gains on investments		14,236	46,694	60,930	91,129
Net income		348,928	60,738	409,666	301,857
Transfers between funds	16	14,044	(14,044)	-	-
Net movement in funds		362,972	46,694	409,666	301,857
Reconciliation of funds:
Total funds brought forward		618,928	678,343	1,297,271	995,414
Net movement in funds		362,972	46,694	409,666	301,857
Total funds carried forward		981,900	725,037	1,706,937	1,297,271

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Balance Sheet

As at 30 September 2025

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Vicky Koo Jan Steenberg Honorary Secretary to the Council of President - CILT International Trustees

Date: 27 February 2026

The notes on pages 28 to 41 form part of these financial statements.

			2025		2024
	Note		£		£
Fixed assets
Intangible assets	9		9,972		17,070
Tangible assets	10		5,545		-
Investments	11		941,702		885,988
			957,219		903,058
Current assets
Debtors	12	228,342		132,588
Cash at bank and in hand		746,132		597,756
		974,474		730,344
Current liabilities
Creditors: amounts falling due within one
year	13	(184,756)		(319,464)
Net current assets			789,718		410,880
Total assets less current liabilities			1,746,937		1,313,938
Creditors: amounts falling due after more
than one year	14		-		(16,667)
Provisions for liabilities			(40,000)		-
Net assets excluding pension asset			1,706,937		1,297,271
Total net assets			1,706,937		1,297,271
Charity funds
Endowment funds	16		725,037		678,343
Unrestricted funds
Designated funds	16	10,800		-
General funds	16	971,100		618,928
Total unrestricted funds	16		981,900		618,928
Total funds			1,706,937		1,297,271

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Statement of Cash Flows For the year ended 30 September 2025

The notes on pages 28 to 41 form part of these financial statements.

	2025	2024
	£	£
Cash flows from operating activities
Net cash used in operating activities	119,077	229,949
Cash flows from investing activities
Dividends, interests and rents from investments	30,995	29,892
Purchase of tangible / intangible fixed assets	(6,912)	(18,180)
Proceeds from sale of investments	69,686	147,996
Purchase of investments	(64,470)	(145,356)
Net cash provided by investing activities	29,299	14,352
Change in cash and cash equivalents in the year	148,376	244,301
Cash and cash equivalents at the beginning of the year	597,756	353,455
Cash and cash equivalents at the end of the year	746,132	597,756

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Notes to the Financial Statements For the year ended 30 September 2025

1. General Information

and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Chartered Institute of Logistics and Transport is a Charity, granted Royal Charter and is registered at the Charity Commision in England and Wales. The registered office is 167-169 Great Portland Street, London, W1W 5PF.

2. Accounting Policies

The Chartered Institute of Logistics and Transport meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or Annual Report and Accounts | Reg No. 313376 transaction value unless otherwise stated in the relevant accounting policy.

2.1 Basis of Preparation of Financial Statements

The financial statements have been

The Chartered Institute of Logistics and Transport | prepared in accordance with the Annual Report and Accounts | Reg No. 313376 transaction value unless otherwise Charities SORP (FRS 102) - Accounting stated in the relevant accounting policy. and Reporting by Charities: Statement of Recommended Practice applicable 2.2 Income to charities preparing their accounts All income is recognised once the in accordance with the Financial Charity has entitlement to the income, Reporting Standard applicable in the UK

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit

to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the

Charity’s objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Foreign Currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities.

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Notes to the Financial Statements For the year ended 30 September 2025

2.6 Taxation

amortisation and any accumulated impairment losses.

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Accordingly, the Charity is potentially following basis: exempt from taxation in respect of Computer software - 33 % income or capital gains received within categories covered by Chapter 2.8 Tangible Fixed Assts and 3 Part 11 of the Corporation Tax Act Depreciation 2010 or Section 256 of the Taxation of The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376 Tangible fixed assets costing £1k or Chargeable Gains Act 1992, to

Tangible fixed assets costing £1k or more are capitalised at the discretion of trustees and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

the extent that such income or gains are applied exclusively to charitable purposes.

2.7 Intangible Assets and Amortisation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Intangible assets costing £10k or more are capitalised at the discretion of trustees and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated

Depreciation is charged so as to allocate the cost of tangible fixed assets

less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Office equipment - 33% Computer equipment - 33%

2.9 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at Bank and in Hand

Cash at bank and in hand includes cash and short-term highly liquid investments

with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.12 Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a

past event, it is probable that a transfer of economic benefit will be required

in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

2.13 Financial Instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception

statements.

Investment income, gains and losses are allocated to the appropriate fund.

of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.14 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.15 Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

3. INCOME FROM CHARITABLE ACTIVITIES

			Unrestricted Total	Unrestricted Total
			funds funds
			2025 2025
			£ £
	Subscriptions and fees		126,692	126,692
	Education		1,060,685 1,060,685
	TOTAL 2025		1,187,377 1,187,377
			Unrestricted Total
			funds funds
			2024 2024
			£ £
	Subscriptions and fees		147,380	147,380
	Education		956,761	956,761
	TOTAL 2024		1,104,141 1,104,141

4.	INVESTMENT INCOME
		Unrestricted	Endowment Total
		funds	funds funds
		2025	2025 2025
		£	£ £
	Dividends and interest	12,921	18,074	30,995

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

		Unrestricted	Endowment	Total
		funds	funds	funds
		2024	2024	2024
		£	£	£
	Dividends and interest	12,854	17,038	29,892

5.	ANALYSIS OF EXPENDITURE BY ACTIVITIES
		Activities
		undertaken	Support	Total
		directly	costs	funds
		2025	2025	2025
		£	£	£
	Staff costs	137,846	291,949	429,795
	Moderation fees	(17,593)	-	(17,593)
	Finance and business support	-	7,905	7,905
	Communications and website	-	54,922	54,922
	Professional fees	-	29,133	29,133
	Head office costs	-	138,249	138,249
	Membership administration	-	8,465	8,465
	Presidential and VP activity	-	79,705	79,705
	Awards	7,500	-	7,500
	Development and administration	126,296	-	126,296
	TOTAL 2025	254,049	610,328	864,377

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

5. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONT.)	5. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONT.)	Activities
		undertaken	Support	Total
		directly	costs	funds
		2024	2024	2024
		£	£	£
	Staff costs	120,005	266,017	386,022
	Moderation fees	90,197	-	90,197
	Finance and business support	-	85,955	85,955
	Communications and website	-	41,866	41,866
	Professional fees	-	47,004	47,004
	Head office costs	-	77,045	77,045
	Membership administration	-	16,461	16,461
	Presidential and VP activity	-	33,482	33,482
	Convention expenses	-	53,514	53,514
	Awards	7,500	-	7,500
	Development and administration	78,434	-	78,434
	TOTAL 2024	296,136	621,344	917,480

6.	AUDITORS' REMUNERATION
			2025	2024
			£	£
	Fees payable to the Charity's auditor for the audit of the Charity's annual
	accounts		13,667	14,100
7.	STAFF COSTS
			2025	2024
			£	£
	Wages and salaries		370,628	325,535
	Social security costs		34,849	37,510
	Contribution to defined contribution pension schemes		24,318	22,977
			429,795	386,022

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

7. STAFF COSTS (CONT.)

The average number of persons employed by the Charity during the year was as follows:

	2025	2024
	No.	No.
Staff headcount	7	7
The number of employees whose employee benefits (excluding employer pension costs) exceeded		The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
	2025	2024
	No.	No.
In the band £60,001 - £70,000	2	-

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

There were 3 individuals considered to be key management personnel during the year (2024: 3) and these comprise the Secretary General, Director of Finance and Education Strategy Lead. The total remuneration of the key management personnel during the year was £177,826 (2024: £233,903).

8. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 30 September 2025, expenses totalling £57,686 were reimbursed or paid directly to 6 Trustees (2024 - £48,545 to 7 Trustees). Trustee reimbursed expenses relate to travel and subsistence costs.

9. INTANGIBLE ASSETS

INTANGIBLE ASSETS
	Computer
	software
	£
COST
At 1 October 2024	22,333
At 30 September 2025	22,333
AMORTISATION
At 1 October 2024	5,263
Charge for the year	7,098
At 30 September 2025	12,361
NET BOOK VALUE
At 30 September 2025	9,972
At 30 September 2024	17,070

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

10. TANGIBLE FIXED ASSETS

	Office	Computer
	equipment	equipment	Total
	£	£	£
COST OR VALUATION
Additions	1,138	5,774	6,912
At 30 September 2025	1,138	5,774	6,912
DEPRECIATION
Charge for the year	188	1,179	1,367
At 30 September 2025	188	1,179	1,367
NET BOOK VALUE
At 30 September 2025	950	4,595	5,545
At 30 September 2024	-	-	-

FIXED ASSET INVESTMENTS
		Cash held
	Listed	within
	investments	investments	Total
	£	£	£
COST OR VALUATION
At 1 October 2024	885,279	709	885,988
Additions	56,683	7,787	64,470
Disposals	(69,686)	-	(69,686)
Revaluations	60,930	-	60,930
AT 30 SEPTEMBER 2025	933,206	8,496	941,702
NET BOOK VALUE
AT 30 SEPTEMBER 2025	933,206	8,496	941,702
AT 30 SEPTEMBER 2024	885,279	709	885,988

11. FIXED ASSET INVESTMENTS

Listed investments consist of quoted shares, trading bonds and similar investments.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

12.	DEBTORS
		2025	2024
		£	£
	DUE WITHIN ONE YEAR
	Trade debtors	217,414	98,365
	Other debtors	678	-
	Prepayments and accrued income	10,250	34,223
		228,342	132,588
13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£
	Bank loans	-	10,000
	Trade creditors	30,238	22,008
	Other taxation and social security	11,423	9,389
	Accruals and deferred income	143,095	278,067
		184,756	319,464
		2025	2024
		£	£
	Deferred income at 1 October 2024	32,543	34,026
	Resources deferred during the year	51,609	32,543
	Amounts released from previous periods	(32,543)	(34,026)
		51,609	32,543

Deferred income relates to income received in advance for memberships and accreditation.

In the prior year, the Charity held a Bounce Back Loan from Barclays Bank PLC under the Governments Bounce Back Loan Scheme. The loan repayment terms were in equal monthly instalments over 5 years. During the current year the Charity repaid the loan early in full.

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

	2025	2024
	£	£
Bank loans	-	16,667

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

15. PROVISIONS

	Legal fees
	£
Additions	40,000
	40,000

Included within provisions are estimated legal fees, the Trustees consider that they are able to quantify the expected cost of the legal fees, and have consequently included a provision of £40,000 (2024: £nil) in the accounts.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Statement of Funds

Current Year

16. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

								Balance at
	Balance at 1	Balance at 1						30
	October					Transfers	Gains/	September
	2024		Income	Expenditure		in/out	(Losses)	2025
		£	£		£	£	£	£
UNRESTRICTE
D FUNDS
DESIGNATED
FUNDS
Timothy Waller
Fund	-		-	-		10,800	-	10,800
GENERAL
FUNDS
General Funds -
all funds	618,928		1,200,298	(865,606)		3,244	14,236	971,100
TOTAL
UNRESTRICT
ED FUNDS	618,928		1,200,298	(865,606)		14,044	14,236	981,900
ENDOWMENT
FUNDS
Endowment
Funds - all
funds	678,343		18,074	(4,030)		(14,044)	46,694	725,037
TOTAL OF
FUNDS	1,297,271		1,218,372	(869,636)		-	60,930	1,706,937

Purposes of designated funds

Timothy Waller Fund - funds earmarked for charitable use in Africa.

Purposes of endowment funds

On 5 November 2002 The Charity Commision for England and Wales approved a new endowment fund for CILT, the Education aand Endowment Fund. The object of the fund is to advance education in the field of transport and logistics by the provision of scholarships and prizes lectures, libraries and such other educational facilities and activities as shall be considered appropriate by the trustees.

The fund was established to give CILT more flexibility in the use of the resources available from endowments, both past and present, while continuing to respect the wishes of past donors. It is managed by CILT's Trustees and Audit and Finance Committee, which in turn is advised on awards and prizes by a specialist sub-committeee. Net income from endowment funds is presented as unrestricted in accordance with the SORP, and shown within transfers between funds.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

16. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR

					Balance at
	Balance at				30
	1 October			Gains/	September
	2023	Income	Expenditure	(Losses)	2024
	£	£	£	£	£
UNRESTRICTED FUNDS
General Funds - all funds	397,618	1,116,995	(918,957)	23,272	618,928
ENDOWMENT FUNDS
Endowment Funds - all funds	597,796	17,038	(4,348)	67,857	678,343
TOTAL OF FUNDS	995,414	1,134,033	(923,305)	91,129	1,297,271

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

	Unrestricted Endowment	Unrestricted Endowment	Total
	funds funds		funds
	2025 2025		2025
	£ £		£
Tangible fixed assets	5,545 -		5,545
Intangible fixed assets	9,972 -		9,972
Fixed asset investments	216,665	725,037	941,702
Current assets	974,474	-	974,474
Creditors due within one year	(184,756) -		(184,756)
Provisions for liabilities and charges	(40,000) -		(40,000)
TOTAL	981,900	725,037	1,706,937

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

		Unrestricted Endowment	Unrestricted Endowment	Total
		funds funds		funds
		2024 2024		2024
		£ £		£
	Intangible fixed assets	17,070	-	17,070
	Fixed asset investments	207,645	678,343	885,988
	Current assets	730,344	-	730,344
	Creditors due within one year	(319,464) -		(319,464)
	Creditors due in more than one year	(16,667) -		(16,667)
	TOTAL	618,928	678,343	1,297,271
	RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING	RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
18.	ACTIVITIES
			2025	2024
			£	£
	Net income for the year (as per Statement of Financial Activities)		409,666	301,857
	ADJUSTMENTS FOR:
	Depreciation charges		1,367	3,629
	Amortisation charges		7,098	-
	Gains on investments		(60,930)	(90,902)
	Dividends, interests and rents from investments		(30,995)	(29,892)
	Increase in debtors		(95,754)	(9,994)
	Increase/(decrease) in creditors		(151,375)	55,251
	Increase in provisions		40,000	-
	NET CASH PROVIDED BY OPERATING ACTIVITIES		119,077	229,949
19.	ANALYSIS OF CASH AND CASH EQUIVALENTS
			2025	2024
			£	£
	Cash in hand		746,132	597,756
	TOTAL CASH AND CASH EQUIVALENTS		746,132	597,756

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Notes to the Financial Statements For the year ended 30 September 2025

20. ANALYSIS OF CHANGES IN NET DEBT

	At 1		At 30
	October		September
	2024	Cash flows	2025
	£	£	£
Cash at bank and in hand	597,756	148,376	746,132
Debt due within 1 year	(10,000)	10,000	-
Debt due after 1 year	(16,667)	16,667	-
	571,089	175,043	746,132

21. RELATED PARTY TRANSACTIONS

Steven Meyerhoff, a trustee, is the Legal Director of Backhouse Jones LLP. During the year the charity paid £2,295 (2024: £nil) to Backhouse Jones LLP. At the year end no monies were owed by the charity to Backhouse Jones LLP.

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Docusign Envelope ID: 1EAE99D4-4B15-415B-9A65-E624B0E3594E

Contact

The Chartered Institute of Logistics and Transport

167-169 Great Portland Street, 5[th] Floor, London W1W 5PF, United Kingdom

−

E info@ciltinternational.org W ciltinternational.org

The Chartered Institute of Logistics and Transport | Annual Report and Accounts | Reg No. 313376

Contents

1 About us

Where we operate

Institute Governance Structure

2 President’s Report

Africa Forum

(Cont.) 2 President’s Report

International Convention

The World in Motion Magazine

Global Day of Supply Chain, Logistics and Transportation

International Conference in China

Women in Logistics & Transport (WiLAT)

Next Generation

(Cont.) 2 President’s Report

“Boots on the Ground”

Chief Teete OWUSU-NORTEY Volunteer of the Month

27 February 2026

Global Activities

The World in Motion Global Magazine

CILT International Convention 2025

CILT Ghana 60th Anniversary

CILT Türkiye Sustainability and Inclusion Initiatives

Global Activities (Cont.)

Next Generation Brand Identity

WiLAT Global Newsletter and Leadership Initiatives

CILT Singapore, CILT BUZZ Publication

Volunteer of the Month Recognition

Council of Trustees (CoT), Advisors to CoT & Principal Employees

Members of standing committees of the board

Advisors, Auditors and Bankers

Trustees’ Report

Purpose

Activities

Financial Review

Status and trustees’ meeting

(Cont.) Trustees’ Report

Key Management Personnel

International Council

International Management Committee (IMC)

International Audit Committee (IAC)

International Education Standards Committee (IESC)

(Cont.) Trustees’ Report

International Membership Sub Committee (IMSC)

Public Benefit

(Cont.) Trustees’ Report

Education

Generally Accepted Accounting Practice).

Disclosure of information to auditors

(Cont.) Trustees’ Report

Auditors

Risk Management

Going Concern

Reserves Policy and Unrestricted Funds

Website

Endowment Funds

Investment Power and Policy

Auditors

Fundraising

Going Forward

(Cont.) Trustees’ Report

Introduction to our new President from 1st Jan 2026

Presidential Transition and Governance

Our Strategy

Our Purpose

Our Goal

Strategic Pillars

DNA and Culture

Stronger together, mutual respect

Independent Auditor’s Report

Opinion

Conclusions Relating to Going Concern

Other Information

Matters on Which We Are Required to Report By Exception

(Cont.) Independent Auditor’s Report

Auditors’ Responsibilities for the Audit of the Financial Statements

Responsibilities of Trustees

(Cont.) Independent Auditor’s Report

Use of our Report

Statement of Financial Activities For the year ended 30 September 2025