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 2021
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 2021
| 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 2021
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
Resigned
Dr Raed Khanfar (Jordan) CM Vignaesvaran (Malaysia) Ranjan Kumar Mohapatra (India) Dr Patricia Phillips (USA) Christopher McDonagh (Ireland) Meshack Justin Tafa (Botswana) Dr Chung-Cheng Lee (Taiwan) Sanja Miovcic (Bosnia) Dr Ahmed Al Banna (Bahrain) Janet Iyabo Kofo Jolaoso (Nigeria) Dr Mohammad Bin Fahad (UAE) Rajcoomar Auckloo (Mauritius) Dr Ghalib Saif Alhosni (Oman) Dr Helmi Sallam (Egypt) Ebrahim Al Dossary (Bahrain) Tayo Rotimi (Nigeria)
Mohammad Alshujaieh (Jordan) Ahmed Ateya (Bahrain) Nataraj Ray India Dickson Onuoba Nigeria
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 2021
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 which was to be organized in New Delhi, India, had to be postponed due to Covid 19 Pandemic. to 2021 and later to 2022.
Three Webinars/talks were organized through video conferencing during the year as follows:
-
A talk on ‘Serfi369-A Unique Trainer Development Model’ by Roy Lai wa organised on January 18, 2021
-
A talk on the subject ‘Learning Measurement using Impact Mapping Process’, by Jeffery Berk, Chief Operating Officer, Performitiv (USA), was organised virtually on April 26, 2021
-
A talk in the form of a panel discussion was successfully organised on July 28, 2021, on the subject ‘Can AI Augment Human Intelligence or Replace it’. Three Panel Members who took part are: Mr Richard Bingley, UK, Ms Mary Loftus Ireland, Mr Abdulla Al Hamid, Bahrain.
IFTDO Committee on Women Empowerment (CWE), organised the IFTDO-CWE programme in March in Nigeria which was greatly successful. The inauguration on March 31, 2021, was very well attended by many high dignitaries, including the 1st Lady of the most populous state. It has enhanced the professional image of IFTDO.
A project proposal on ‘IFTDO - CWE Agric Business Empowerment for Women Small Holder Farmers in local communities in Ogun, Oyo, Lagos States’ was submitted to TOTAL Nigeria for funding, which approved funding of about $17,000 for this project. An Execution Plan includes Selection, Orientation, Empowerment, Monitoring and Assessment. The Selection stage was completed, and the Orientation Programme and Empowerment Ceremony was
f ll h ld D b 16 2021 An IFTDO- Certificate in Employability skills was launched which is designed as a specialized certificate provided by the IFTDO in order to develop the necessary skills that are required globally in the work field by Job Seekers.
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.
ON BEHALF OF THE BOARD
Date Dr Uddesh Kumar Kohli (Secretary)
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2021
| 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 2021 $ 41,915 - - - 6,877 - 48,792 - - - 2,601 33,220 35,821 12,971 393,552 406,523 |
Unrestricted funds 2020 $ 29,730 2,000 2,500 - 11,013 - |
|---|---|---|
| 45,243 | ||
| - - - 20,033 22,293 |
||
| 42,326 | ||
| 2,917 390,635 |
||
| 393,552 |
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 2021
| 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 |
$ $ $ $ - - 479,363 468,370 479,363 468,370 -72,840 -74,818 406,523 393,552 406,523 393,552 406,523 393,552 406,523 393,552 2021 2020 |
$ $ $ $ - - 479,363 468,370 479,363 468,370 -72,840 -74,818 406,523 393,552 406,523 393,552 406,523 393,552 406,523 393,552 2021 2020 |
|---|---|---|
| 393,552 | ||
| 393,552 | ||
| 393,552 |
For the year ended 31st December 2021, 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.
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 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 2021
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 2021
| 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 CEO fee Bank charges (Profit) / Loss on foreign exchange |
2021 $ - - - 2,335 29,226 447,802 479,363 - 23,128 25,525 21,467 63 2,657 72,840 12,000 7,233 10,410 2,421 746 32,810 |
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 |
Page 7
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
For the year ended 31st December 2021
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 $12,000.
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 2021
| 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 |
2021 $ 41,915 - - - - 6,877 - 48,792 - - - 2,421 - - 1,417 12,000 - 10,410 - 7,233 746 1,594 35,821 12,971 |
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 |
Page 9
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 2021
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 2021
| 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 2021
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
Resigned
Dr Raed Khanfar (Jordan) CM Vignaesvaran (Malaysia) Ranjan Kumar Mohapatra (India) Dr Patricia Phillips (USA) Christopher McDonagh (Ireland) Meshack Justin Tafa (Botswana) Dr Chung-Cheng Lee (Taiwan) Sanja Miovcic (Bosnia) Dr Ahmed Al Banna (Bahrain) Janet Iyabo Kofo Jolaoso (Nigeria) Dr Mohammad Bin Fahad (UAE) Rajcoomar Auckloo (Mauritius) Dr Ghalib Saif Alhosni (Oman) Dr Helmi Sallam (Egypt) Ebrahim Al Dossary (Bahrain) Tayo Rotimi (Nigeria)
Mohammad Alshujaieh (Jordan) Ahmed Ateya (Bahrain) Nataraj Ray India Dickson Onuoba Nigeria
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 2021
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 which was to be organized in New Delhi, India, had to be postponed due to Covid 19 Pandemic. to 2021 and later to 2022.
Three Webinars/talks were organized through video conferencing during the year as follows:
-
A talk on ‘Serfi369-A Unique Trainer Development Model’ by Roy Lai wa organised on January 18, 2021
-
A talk on the subject ‘Learning Measurement using Impact Mapping Process’, by Jeffery Berk, Chief Operating Officer, Performitiv (USA), was organised virtually on April 26, 2021
-
A talk in the form of a panel discussion was successfully organised on July 28, 2021, on the subject ‘Can AI Augment Human Intelligence or Replace it’. Three Panel Members who took part are: Mr Richard Bingley, UK, Ms Mary Loftus Ireland, Mr Abdulla Al Hamid, Bahrain.
IFTDO Committee on Women Empowerment (CWE), organised the IFTDO-CWE programme in March in Nigeria which was greatly successful. The inauguration on March 31, 2021, was very well attended by many high dignitaries, including the 1st Lady of the most populous state. It has enhanced the professional image of IFTDO.
A project proposal on ‘IFTDO - CWE Agric Business Empowerment for Women Small Holder Farmers in local communities in Ogun, Oyo, Lagos States’ was submitted to TOTAL Nigeria for funding, which approved funding of about $17,000 for this project. An Execution Plan includes Selection, Orientation, Empowerment, Monitoring and Assessment. The Selection stage was completed, and the Orientation Programme and Empowerment Ceremony was
f ll h ld D b 16 2021 An IFTDO- Certificate in Employability skills was launched which is designed as a specialized certificate provided by the IFTDO in order to develop the necessary skills that are required globally in the work field by Job Seekers.
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.
ON BEHALF OF THE BOARD
Date Dr Uddesh Kumar Kohli (Secretary)
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2021
| 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 2021 $ 41,915 - - - 6,877 - 48,792 - - - 2,601 33,220 35,821 12,971 393,552 406,523 |
Unrestricted funds 2020 $ 29,730 2,000 2,500 - 11,013 - |
|---|---|---|
| 45,243 | ||
| - - - 20,033 22,293 |
||
| 42,326 | ||
| 2,917 390,635 |
||
| 393,552 |
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 2021
| 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 |
$ $ $ $ - - 479,363 468,370 479,363 468,370 -72,840 -74,818 406,523 393,552 406,523 393,552 406,523 393,552 406,523 393,552 2021 2020 |
$ $ $ $ - - 479,363 468,370 479,363 468,370 -72,840 -74,818 406,523 393,552 406,523 393,552 406,523 393,552 406,523 393,552 2021 2020 |
|---|---|---|
| 393,552 | ||
| 393,552 | ||
| 393,552 |
For the year ended 31st December 2021, 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.
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 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 2021
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 2021
| 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 CEO fee Bank charges (Profit) / Loss on foreign exchange |
2021 $ - - - 2,335 29,226 447,802 479,363 - 23,128 25,525 21,467 63 2,657 72,840 12,000 7,233 10,410 2,421 746 32,810 |
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 |
Page 7
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
For the year ended 31st December 2021
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 $12,000.
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 2021
| 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 |
2021 $ 41,915 - - - - 6,877 - 48,792 - - - 2,421 - - 1,417 12,000 - 10,410 - 7,233 746 1,594 35,821 12,971 |
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 |
Page 9
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of INTERNATIONAL FEDERATION OF TRAINING AND DEVELOPMENT ORGANISATIONS LIMITED{THE) On accounts for the year ended 31.12.2021 Charity no (if any) 326633 Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"}. I report in respect of my examination of the Trust'5 accounts carried out under section 145 of the 2011 Act and in carying oul my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515)(b) of the Act. Independent examinerfs statement I have completed my examination. I confimi that no material matters have come lo 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 Charities Act., or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements ConMIng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent 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 understsnding of the accounts to be reached. Please delete the words in the brackets rfthey do not apply. Signed: Date: 1510812022 Name: Alison Redwood Relevant professional qualification{s) or body (if any): AFA InstitLrte of Financial Accountsnts IER Oct 2018
Address: TaxAssist Accountants B7 Kestrel Court. Harbour Road Portishead BS20 7AN Section B Disclosure Only complele If the examiner needs lo highlight material matters of concern {see CC32. Independent examination of charty accounts.. directions and guidance for examiners). Give here brief detalls of any items that the examiner wishes to disclose. IER Oct 2018