**Registered Company No. 1829725 Registered Charity No. 326633**
**The International Federation of Training and Development Organisations Limited**
**Reports of the Trustees and Financial Statements**
**For the year ended 31st December 2020**
**TaxAssist Accountants**
**Kestrel Court Portishead Somerset BS20 7AN**
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 Contents for the year ended 31st December 2020**
||**Page**||
|---|---|---|
|Report of the Trustees|1|to 3|
|Statement of Financial Activities||4|
|Balance Sheet||5|
|Notes to the Financial Statements|6|to 8|
|Detailed Income and Expenditure Account||9|
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725**
## **For the year ended 31st December 2020**
The Trustees who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31st December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practise (SORP 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
1829725
## **Registered Charity number**
326633
## **Registered office**
B7 Kestrel Court, Harbour Road, Portishead, BS20 7AN _,_ United Kingdom
## **Trustees**
|**Trustees**||
|---|---|
|Ahmed Al Banna|(Bahrain)|
|Ebrahim Al-Dossary|(Bahrain)|
|Mohammad Alshujaieh|(Jordan)|
|Ahmed Ateya|(Bahrain)|
|Rajcoomar Auckloo|(Mauritius)|
|Mohammad Bin Fahad|(UAE)|
|Janet Jolaoso|(Nigeria)|
|Chung-Cheng Lee|(Taiwan)|
|Christopher McDonagh|(Ireland)|
|Sanja Miocvic|(Bosnia)|
|Patricia Phillips|(USA)|
|Tayo Rotimi|(Nigeria)|
|Helmi Sallam|(Egypt)|
|Meshack Justin Tafa|(Botswana)|
|Ranjan Kumar Mohapatra|India|
|Nataraj Ray|India|
|Dickson Onuoba|Nigeria|
|Ghalib Al Hosni|Oman|
|**Company Secretary**||
|Dr Uddesh Kumar Kohli|(India)|
|**Accountants**||
TaxAssist Accountants Kestrel Court, Portishead Somerset, BS20 7AN
**Page 1**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The General Body of IFTDO consists of all Full members of the IFTDO and members of the Executive Board. The Board consists of a President, President- Elect, Past President, Chair, Chair Elect, Honorary Treasurer and ten Members at Large and four representatives of the Associate Members, one representing each Region. The General Body, at the Annual General Meeting (held at the time of the Annual Conference), (i) appoints the President and President-Elect and Past President for a term of about one year, from one Annual Conference to the next, and (ii) elects the Chair and Honorary Treasurer and ten Members at Large for a two-year term, beginning the following January. It also elects a Chair-Elect for a one year term, who is normally elected the Chair in the following year. The four Associate Member Representatives are elected region-wise by the respective Associate Members in the region. The Secretary can be elected or appointed, and is presently appointed. The Executive Board runs the affairs of the Charity. It has appointed several Committees to help in different areas of activity.
## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT**
IFTDO is the most multinational, multicultural Training and Development organization in the world with a truly diverse Board of Directors leading the organization. Our members form a highly diverse network of human resource management and development organizations globally, linking HR professionals in HR societies, corporations, universities, consultancies, government organizations and enterprises. IFTDO currently represents more than 500,000 professionals in over 30 countries. IFTDO's vision is to be a unique and effective resource to the HRD profession working globally for the betterment of life. IFTDO has as its fundamental and driving mission, to promote the concept of HRD as an effective tool, across all sectors of society, in order to increase personal and organizational effectiveness. The main object of the Charity is the development and maintenance of a worldwide network of information and HR dedicated to developing, expanding and transferring the knowledge, technology and impact of HR development throughout national and multi-national professional, educational, government and commercial organisations and their members.
The main activities of the charity to support of its objectives are: an annual World Conference held in different parts of the world, IFTDO News and IFTDO Journal for members, a web site to enable exchange of knowledge, annual awards to recognize and promote outstanding HRD practices. In addition, the IFTDO participates in Training and Development events and provides a forum for the exchange of ideas and experiences. It also participates in activities of concerned UN agencies.
**Page 2**
## **ACHIEVEMENTS AND PERFORMANCE**
The 49th IFTDO World Conference and Exhibition whic was to be organized in New Delhi, India, had to be postponed due to Covid 19 Pandemic. A 1-day Virtual Global Conference was held on November 25 2020 on the Theme ‘RESHAPING THE FUTURE OF HRD IN A FAST CHANGING WORLD’; chaired by Dr. Patti Phillips, it had renowned international keynote speakers such as Dave Ulrich, Johnny Taylor Jr and Jack Philips, registration of 1083 and participation of 786 from 62 countries.
Six Webinars/talks were organized through video conferencing during the year as follows:
1. May 5, 2020 -The Bottom-line on ROI: Demonstrating the role of ROI Virtual Training Programs- Speakers: Dr. Jack Philips and Dr. Patti Phillips
2. June 2, 2020 – Covid 19, Does it really make a difference- Speaker: Ms Brenda Crowley
3. July 16, 2020 - New Reality and new Opportunity- Speaker: Martin Mossler
4. July 22, 2020 – The CHRO’s Talent Plan for Recovery- Speakers: Marc Effron and Ranjan Kumar Mohapatra
5. August 18, 2020 – Human Capital reporting: ISO’s Recommendations for Public Disclosure and Internal reporting for Small, Medium and Large Organizations- Speaker: Dr. David Vance
6. September 17, 2020 – Talent Miggration-Challenges & Opportunities during Covid 19: Speakers: Kevin Tan, Jimmy Ong, Christian Quirino and James Bryden
IFTDO Certification and coaching/training Programme was launched during 2020
IFTDO has consultative status with ECOSOC of UN. It continued to participate in United Nations activities, including the UN Global Compact Programme which is aimed at corporate citizenship in which over 10,000 organisations are participating in over 130 countries.
Issues of IFTDO News were published during the year.
IFTDO’s web site www.iftdo.net was further revamped. It provides more information and is very useful for exchange of knowledge and experiences. All members have been given specific passwords to access the members only area.
## **FINANCIAL REVIEW AND RESERVES POLICY**
IFTDO's policy is to maintain reserves at around US$400,000 to ensure continuity of operation under all circumstances and to demonstrate sound financial management practices.
ukkohli
ON BEHALF OF THE BOARD 27 Sep 2021
Dr Uddesh Kumar Kohli (Secretary)
Date
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 For the year ended 31st December 2020**
|**Notes**
**Incoming resources**
_Incoming resources from generated funds_
Subscriptions
Conferences
Certification and training
Awards
Bank Interest
Development fund
**_Total incoming resources_**
**Resources expended**
_Charitable activities_
Award expenditure
Research expenditure
Development expenditure
Other costs
_Governance costs_
**5**
**_Total resources expended_**
**_Net incoming resources for the year_**
**6**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**2020**
**$**
29,730
2,000
2,500
-
11,013
-
45,243
-
-
-
20,033
22,293
42,326
2,917
361,483
364,400|**Unrestricted**
**funds**
**2019**
**$**
42,086
-
-
78
10,593
6,561|
|---|---|---|
|||59,318|
|||78
-
6,561
19,570
23,943|
|||50,152|
|||9,166
352,317|
|||361,483|
**The notes on pages 5 to 7 form part of these financial statements.**
**Page 4**
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 For the year ended 31st December 2020**
|**Notes**
**CURRENT ASSETS**
Debtors
**2**
Cash at the bank and in hand
**3**
**CREDITORS**
Amount falling due within
one year
**4**
**NET CURRENT ASSETS**
**NET ASSETS**
**RESERVES**
Profit and loss account
**TOTAL FUNDS**|**$**
**$**
-
468,370
468,370
-74,818
393,552
393,552
364,400
364,400
**2020**|**$**
**$**
1,550
459,866
461,416
-71,656
389,760
389,760
361,483
361,483
**2019**|**$**
**$**
1,550
459,866
461,416
-71,656
389,760
389,760
361,483
361,483
**2019**|
|---|---|---|---|
|||||
||||389,760|
||||361,483|
||||361,483|
For the year ended 31st December 2020, the company was entitled to exemption from audit under section 477(2) of the Companies Act 2006.
The Members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibility for:
(i) ensuring the company keeps accounting records which comply with Sections 386; and
(ii) preparing accounts which give a true and fair view if the state of affairs of the company as at the end of the financial year, and its profit or loss for the financial year, in accordance with the requirements of Section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far is applicable to the company.
27 Sep 2021
The accounts have been prepared in accordance with the Charities SORP (FRS102) and the Charities Act 2011.
The accounts were approved by the Board of Trustees on …………………….. and were signed on its ukkohli behalf by:
Dr Uddesh Kumar Kohli (Secretary)
**The notes on pages 6 to 8 form part of these financial statements.**
**Page 5**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
## **1 ACCOUNTING POLICIES**
The following accounting policies have been used consistently in dealing with items which are considered material to the company's financial statements.
## **Basis of accounting**
The financial statements have been prepared under the historical cost accounting convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice Accounting and Reporting by Charities' issued in March 2005.
## **Foreign currency**
Assets and liabilities denominated in the foreign currencies are translated into US Dollars at the rates of the exchange ruling at the Balance Sheet date. Transactions in foreign currencies are translated into US dollars at the average rate of exchange for the financial year. Exchange differences are taken into account in arriving at the surplus or deficit for the financial year.
## **Conference contributions**
The guaranteed minimum conference contribution is recognised as income in the conference year. Any conference surplus is not recognised as income until actually received unless its receipt is reasonably certain.
## **Subscriptions**
Subscriptions are recognised when they are received. Any subscriptions relating to future periods are treated as deferred income.
**Page 6**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
|**2**
**DEBTORS**
Trade Debtors
**3**
**CASH AT BANK**
Cash in hand
Current account
Lloyds TSB sterling account
Lloyds TSB dollar account
Longer term deposit account
**4**
**CREDITORS: AMOUNTS FALLING DUE WITHIN**
**ONE YEAR**
Trade creditors
Deferred income - Development Fund
Deferred income - subscriptions in advance
Deferred income - awards
Deferred income - research
Accruals and deferred income
**5**
**GOVERNANCE COSTS**
Management
Accounting
Equipment rental
Bank charges
(Profit) / Loss on foreign exchange|**2020**
**$**
-
-
-
1,032
27,318
440,020
468,370
481
23,128
26,725
21,467
63
2,954
74,818
14,000
4,993
-
1,719
1,581
22,293|**2019**
**$**
1,550|
|---|---|---|
|||-
29,706
1,078
11,704
417,378|
|||459,866|
|||500
23,128
25,170
21,467
63
1,328|
|||71,656|
|||12,000
4,457
6,000
612
874|
|||23,943|
**Page 7**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
## **7 RELATED PARTY DISCLOSURES**
During the year Dr Uddesh Kumar Kohli, company secretary, provided secretarial and other services to the company for which total fees and expenses payable amounted to $14,000.
## **8 CHARITIABLE STATUS**
The company is a registered charity.
## **9 TAXATION**
The directors are of the opinion that the company's present activities are exempt from corporation tax.
## **10 COMPANY LIMITED BY GUARANTEE**
The company is limited by guarantee and therefore there are no individual controlling parties. The company is controlled by the directors and its members.
**Page 8**
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 For the year ended 31st December 2020**
|**INCOME**
Subscriptions
Conferences
Certification and training
Awards
Sponsorship
Bank Interest
Development fund
**EXPENDITURE**
Award expenditure
Research expenditure
Development expenditure
Bank service charges
Office and equipment expenses
Postage and delivery
Printing,website and other
Management fees
Marketing
CEO fee
Travel and subsistence
Accountancy
(Profit) / Loss on foreign exchange
Others - Miscellaneaous|**2020**
**$**
29,730
2,000
2,500
11,013
45,243
3,033
14,000
2,000
14,750
250
4,993
3,300
42,326
2,917|**2019**
**$**
42,086
-
-
78
-
10,593
3,036|
|---|---|---|
|||55,793|
|||78
-
3,036
612
6,000
-
1,756
12,000
2,451
-
2,165
4,457
874
1,396|
|||34,825|
|||20,968|
**Page 9**
## **Issuer**
**Issuer** TaxAssist Accountants **Document generated** Sun, 26th Sep 2021 14:55:11 BST **Document fingerprint** 28cab81f96b9d104c84aab7d68645243
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
Mon, 27th Sep 2021 8:30:33 BST Dr Uddesh Kohli - Signer (35a2a51c98be2eeba8f595ae0765dc08) **Audit history log Date Action** Mon, 27th Sep 2021 8:30:33 BST The envelope has been signed by all parties. (49.36.176.178) Mon, 27th Sep 2021 8:30:33 BST Dr Uddesh Kohli signed the envelope. (49.36.176.178) Mon, 27th Sep 2021 8:29:01 BST Dr Uddesh Kohli viewed the envelope. (49.36.176.178) Sun, 26th Sep 2021 16:03:25 BST Dr Uddesh Kohli viewed the envelope. (49.36.176.178) Sun, 26th Sep 2021 14:55:21 BST Document emailed to party email (18.134.206.92) Sun, 26th Sep 2021 14:55:12 BST Sent the envelope to Dr Uddesh Kohli for signing. (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Envelope has been set to automatically remind the active signer every 3 day(s). (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Dr Uddesh Kohli has been assigned to this envelope. (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Envelope generated. (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Document generated with fingerprint 28cab81f96b9d104c84aab7d68645243. (3.8.87.8) Sun, 26th Sep 2021 14:55:11 BST Envelope generated with fingerprint 5d09896a1649b8888894bf666d09ef68 (18.133.63.166)
**Registered Company No. 1829725 Registered Charity No. 326633**
**The International Federation of Training and Development Organisations Limited**
**Reports of the Trustees and Financial Statements**
**For the year ended 31st December 2020**
**TaxAssist Accountants**
**Kestrel Court Portishead Somerset BS20 7AN**
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 Contents for the year ended 31st December 2020**
||**Page**||
|---|---|---|
|Report of the Trustees|1|to 3|
|Statement of Financial Activities||4|
|Balance Sheet||5|
|Notes to the Financial Statements|6|to 8|
|Detailed Income and Expenditure Account||9|
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725**
## **For the year ended 31st December 2020**
The Trustees who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31st December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practise (SORP 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
1829725
## **Registered Charity number**
326633
## **Registered office**
B7 Kestrel Court, Harbour Road, Portishead, BS20 7AN _,_ United Kingdom
## **Trustees**
|**Trustees**||
|---|---|
|Ahmed Al Banna|(Bahrain)|
|Ebrahim Al-Dossary|(Bahrain)|
|Mohammad Alshujaieh|(Jordan)|
|Ahmed Ateya|(Bahrain)|
|Rajcoomar Auckloo|(Mauritius)|
|Mohammad Bin Fahad|(UAE)|
|Janet Jolaoso|(Nigeria)|
|Chung-Cheng Lee|(Taiwan)|
|Christopher McDonagh|(Ireland)|
|Sanja Miocvic|(Bosnia)|
|Patricia Phillips|(USA)|
|Tayo Rotimi|(Nigeria)|
|Helmi Sallam|(Egypt)|
|Meshack Justin Tafa|(Botswana)|
|Ranjan Kumar Mohapatra|India|
|Nataraj Ray|India|
|Dickson Onuoba|Nigeria|
|Ghalib Al Hosni|Oman|
|**Company Secretary**||
|Dr Uddesh Kumar Kohli|(India)|
|**Accountants**||
TaxAssist Accountants Kestrel Court, Portishead Somerset, BS20 7AN
**Page 1**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The General Body of IFTDO consists of all Full members of the IFTDO and members of the Executive Board. The Board consists of a President, President- Elect, Past President, Chair, Chair Elect, Honorary Treasurer and ten Members at Large and four representatives of the Associate Members, one representing each Region. The General Body, at the Annual General Meeting (held at the time of the Annual Conference), (i) appoints the President and President-Elect and Past President for a term of about one year, from one Annual Conference to the next, and (ii) elects the Chair and Honorary Treasurer and ten Members at Large for a two-year term, beginning the following January. It also elects a Chair-Elect for a one year term, who is normally elected the Chair in the following year. The four Associate Member Representatives are elected region-wise by the respective Associate Members in the region. The Secretary can be elected or appointed, and is presently appointed. The Executive Board runs the affairs of the Charity. It has appointed several Committees to help in different areas of activity.
## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT**
IFTDO is the most multinational, multicultural Training and Development organization in the world with a truly diverse Board of Directors leading the organization. Our members form a highly diverse network of human resource management and development organizations globally, linking HR professionals in HR societies, corporations, universities, consultancies, government organizations and enterprises. IFTDO currently represents more than 500,000 professionals in over 30 countries. IFTDO's vision is to be a unique and effective resource to the HRD profession working globally for the betterment of life. IFTDO has as its fundamental and driving mission, to promote the concept of HRD as an effective tool, across all sectors of society, in order to increase personal and organizational effectiveness. The main object of the Charity is the development and maintenance of a worldwide network of information and HR dedicated to developing, expanding and transferring the knowledge, technology and impact of HR development throughout national and multi-national professional, educational, government and commercial organisations and their members.
The main activities of the charity to support of its objectives are: an annual World Conference held in different parts of the world, IFTDO News and IFTDO Journal for members, a web site to enable exchange of knowledge, annual awards to recognize and promote outstanding HRD practices. In addition, the IFTDO participates in Training and Development events and provides a forum for the exchange of ideas and experiences. It also participates in activities of concerned UN agencies.
**Page 2**
## **ACHIEVEMENTS AND PERFORMANCE**
The 49th IFTDO World Conference and Exhibition whic was to be organized in New Delhi, India, had to be postponed due to Covid 19 Pandemic. A 1-day Virtual Global Conference was held on November 25 2020 on the Theme ‘RESHAPING THE FUTURE OF HRD IN A FAST CHANGING WORLD’; chaired by Dr. Patti Phillips, it had renowned international keynote speakers such as Dave Ulrich, Johnny Taylor Jr and Jack Philips, registration of 1083 and participation of 786 from 62 countries.
Six Webinars/talks were organized through video conferencing during the year as follows:
1. May 5, 2020 -The Bottom-line on ROI: Demonstrating the role of ROI Virtual Training Programs- Speakers: Dr. Jack Philips and Dr. Patti Phillips
2. June 2, 2020 – Covid 19, Does it really make a difference- Speaker: Ms Brenda Crowley
3. July 16, 2020 - New Reality and new Opportunity- Speaker: Martin Mossler
4. July 22, 2020 – The CHRO’s Talent Plan for Recovery- Speakers: Marc Effron and Ranjan Kumar Mohapatra
5. August 18, 2020 – Human Capital reporting: ISO’s Recommendations for Public Disclosure and Internal reporting for Small, Medium and Large Organizations- Speaker: Dr. David Vance
6. September 17, 2020 – Talent Miggration-Challenges & Opportunities during Covid 19: Speakers: Kevin Tan, Jimmy Ong, Christian Quirino and James Bryden
IFTDO Certification and coaching/training Programme was launched during 2020
IFTDO has consultative status with ECOSOC of UN. It continued to participate in United Nations activities, including the UN Global Compact Programme which is aimed at corporate citizenship in which over 10,000 organisations are participating in over 130 countries.
Issues of IFTDO News were published during the year.
IFTDO’s web site www.iftdo.net was further revamped. It provides more information and is very useful for exchange of knowledge and experiences. All members have been given specific passwords to access the members only area.
## **FINANCIAL REVIEW AND RESERVES POLICY**
IFTDO's policy is to maintain reserves at around US$400,000 to ensure continuity of operation under all circumstances and to demonstrate sound financial management practices.
ukkohli
ON BEHALF OF THE BOARD 27 Sep 2021
Dr Uddesh Kumar Kohli (Secretary)
Date
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 For the year ended 31st December 2020**
|**Notes**
**Incoming resources**
_Incoming resources from generated funds_
Subscriptions
Conferences
Certification and training
Awards
Bank Interest
Development fund
**_Total incoming resources_**
**Resources expended**
_Charitable activities_
Award expenditure
Research expenditure
Development expenditure
Other costs
_Governance costs_
**5**
**_Total resources expended_**
**_Net incoming resources for the year_**
**6**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**2020**
**$**
29,730
2,000
2,500
-
11,013
-
45,243
-
-
-
20,033
22,293
42,326
2,917
361,483
364,400|**Unrestricted**
**funds**
**2019**
**$**
42,086
-
-
78
10,593
6,561|
|---|---|---|
|||59,318|
|||78
-
6,561
19,570
23,943|
|||50,152|
|||9,166
352,317|
|||361,483|
**The notes on pages 5 to 7 form part of these financial statements.**
**Page 4**
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 For the year ended 31st December 2020**
|**Notes**
**CURRENT ASSETS**
Debtors
**2**
Cash at the bank and in hand
**3**
**CREDITORS**
Amount falling due within
one year
**4**
**NET CURRENT ASSETS**
**NET ASSETS**
**RESERVES**
Profit and loss account
**TOTAL FUNDS**|**$**
**$**
-
468,370
468,370
-74,818
393,552
393,552
364,400
364,400
**2020**|**$**
**$**
1,550
459,866
461,416
-71,656
389,760
389,760
361,483
361,483
**2019**|**$**
**$**
1,550
459,866
461,416
-71,656
389,760
389,760
361,483
361,483
**2019**|
|---|---|---|---|
|||||
||||389,760|
||||361,483|
||||361,483|
For the year ended 31st December 2020, the company was entitled to exemption from audit under section 477(2) of the Companies Act 2006.
The Members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibility for:
(i) ensuring the company keeps accounting records which comply with Sections 386; and
(ii) preparing accounts which give a true and fair view if the state of affairs of the company as at the end of the financial year, and its profit or loss for the financial year, in accordance with the requirements of Section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far is applicable to the company.
27 Sep 2021
The accounts have been prepared in accordance with the Charities SORP (FRS102) and the Charities Act 2011.
The accounts were approved by the Board of Trustees on …………………….. and were signed on its ukkohli behalf by:
Dr Uddesh Kumar Kohli (Secretary)
**The notes on pages 6 to 8 form part of these financial statements.**
**Page 5**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
## **1 ACCOUNTING POLICIES**
The following accounting policies have been used consistently in dealing with items which are considered material to the company's financial statements.
## **Basis of accounting**
The financial statements have been prepared under the historical cost accounting convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice Accounting and Reporting by Charities' issued in March 2005.
## **Foreign currency**
Assets and liabilities denominated in the foreign currencies are translated into US Dollars at the rates of the exchange ruling at the Balance Sheet date. Transactions in foreign currencies are translated into US dollars at the average rate of exchange for the financial year. Exchange differences are taken into account in arriving at the surplus or deficit for the financial year.
## **Conference contributions**
The guaranteed minimum conference contribution is recognised as income in the conference year. Any conference surplus is not recognised as income until actually received unless its receipt is reasonably certain.
## **Subscriptions**
Subscriptions are recognised when they are received. Any subscriptions relating to future periods are treated as deferred income.
**Page 6**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
|**2**
**DEBTORS**
Trade Debtors
**3**
**CASH AT BANK**
Cash in hand
Current account
Lloyds TSB sterling account
Lloyds TSB dollar account
Longer term deposit account
**4**
**CREDITORS: AMOUNTS FALLING DUE WITHIN**
**ONE YEAR**
Trade creditors
Deferred income - Development Fund
Deferred income - subscriptions in advance
Deferred income - awards
Deferred income - research
Accruals and deferred income
**5**
**GOVERNANCE COSTS**
Management
Accounting
Equipment rental
Bank charges
(Profit) / Loss on foreign exchange|**2020**
**$**
-
-
-
1,032
27,318
440,020
468,370
481
23,128
26,725
21,467
63
2,954
74,818
14,000
4,993
-
1,719
1,581
22,293|**2019**
**$**
1,550|
|---|---|---|
|||-
29,706
1,078
11,704
417,378|
|||459,866|
|||500
23,128
25,170
21,467
63
1,328|
|||71,656|
|||12,000
4,457
6,000
612
874|
|||23,943|
**Page 7**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2020**
## **7 RELATED PARTY DISCLOSURES**
During the year Dr Uddesh Kumar Kohli, company secretary, provided secretarial and other services to the company for which total fees and expenses payable amounted to $14,000.
## **8 CHARITIABLE STATUS**
The company is a registered charity.
## **9 TAXATION**
The directors are of the opinion that the company's present activities are exempt from corporation tax.
## **10 COMPANY LIMITED BY GUARANTEE**
The company is limited by guarantee and therefore there are no individual controlling parties. The company is controlled by the directors and its members.
**Page 8**
## **The International Federation of Training and Development Organisations Limited**
## **Registered Company No. 1829725 For the year ended 31st December 2020**
|**INCOME**
Subscriptions
Conferences
Certification and training
Awards
Sponsorship
Bank Interest
Development fund
**EXPENDITURE**
Award expenditure
Research expenditure
Development expenditure
Bank service charges
Office and equipment expenses
Postage and delivery
Printing,website and other
Management fees
Marketing
CEO fee
Travel and subsistence
Accountancy
(Profit) / Loss on foreign exchange
Others - Miscellaneaous|**2020**
**$**
29,730
2,000
2,500
11,013
45,243
3,033
14,000
2,000
14,750
250
4,993
3,300
42,326
2,917|**2019**
**$**
42,086
-
-
78
-
10,593
3,036|
|---|---|---|
|||55,793|
|||78
-
3,036
612
6,000
-
1,756
12,000
2,451
-
2,165
4,457
874
1,396|
|||34,825|
|||20,968|
**Page 9**
## **Issuer**
**Issuer** TaxAssist Accountants **Document generated** Sun, 26th Sep 2021 14:55:11 BST **Document fingerprint** 28cab81f96b9d104c84aab7d68645243
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
Mon, 27th Sep 2021 8:30:33 BST Dr Uddesh Kohli - Signer (35a2a51c98be2eeba8f595ae0765dc08) **Audit history log Date Action** Mon, 27th Sep 2021 8:30:33 BST The envelope has been signed by all parties. (49.36.176.178) Mon, 27th Sep 2021 8:30:33 BST Dr Uddesh Kohli signed the envelope. (49.36.176.178) Mon, 27th Sep 2021 8:29:01 BST Dr Uddesh Kohli viewed the envelope. (49.36.176.178) Sun, 26th Sep 2021 16:03:25 BST Dr Uddesh Kohli viewed the envelope. (49.36.176.178) Sun, 26th Sep 2021 14:55:21 BST Document emailed to party email (18.134.206.92) Sun, 26th Sep 2021 14:55:12 BST Sent the envelope to Dr Uddesh Kohli for signing. (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Envelope has been set to automatically remind the active signer every 3 day(s). (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Dr Uddesh Kohli has been assigned to this envelope. (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Envelope generated. (3.8.87.8) Sun, 26th Sep 2021 14:55:12 BST Document generated with fingerprint 28cab81f96b9d104c84aab7d68645243. (3.8.87.8) Sun, 26th Sep 2021 14:55:11 BST Envelope generated with fingerprint 5d09896a1649b8888894bf666d09ef68 (18.133.63.166)
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report on the
accounts
Section A
Independent Examinerfs Report
Report to the trusteesl
members of
INTERNATIONAL FEDERATION OF TRAINING AND DEVELOPMENT
ORGANISATIONS LIMITED(THE)
On accounts for the year
ended
31.12.2020
Charity no
(if any)
326633
Set out on page5
Iretnember to IVde Int oaoe Yumbers of *dilional stteetsi
I report to the trustees on my examination of the accounts of the above
charity (Ihe Trust-) for the year ended
Responsibilities and
basis of report
As the charity's trustees, you are responsible for the preparation of Ihe
accounts in accordance with the requirements of the Charities Act 2011
(Ihe Acf).
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carying out my examination, I
have followed all the applicable Directions given by the Charity Commission
under section 145(5)(b} of the Act.
Independent
examiner's statement I have completed my examination. I confimi that no material matters have
come to my attention in connection with the examination (other than that
disclosed below ") which gives me cause to believe that in, any material
respect:
the accounting records were not kept in accordance with section 130
of the Chartties Act. or
the accounts did not accord with the accounting records. or
the accounts did not comply with the applicable requiremenls
conceming the fomi and content of accounts set out in the Charities
(Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a Yrue and fairf view which is not a matter
considered as part of an independenl examination.
I have no concems and have come across no other matters in connection
with the examination to which attention should be drawn in this report in
order to enable a proper understanding of the accounts to be reached.
. Please delete the words in the brackets rf they do not apply.
Signe
Date:
f.10
Aison Redwood
Relevant professional
qualification(s) or body
(if any):
AFA
InstitLrte of Financial Accountants
IER
Oct 2018
Address:
TaxAssist Accountants
Kestrel Court, Harbour Road
Portishead BS20 7AN
Section B
Disclosure
Only complete if the examiner needs to highlight material matters of concem
(see CC32. Independent examination of charity accounts: directions and
guidance for examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
Oct 2018