**The International Federation of Training and Development Organisations Limited** **Registered Company No. 1829725** **For the year ended 31st December 2022** ## **NOTE TO ACCOUNTS** The charity's accounts were prepared in accordance with Charities SORP, using US dollars as the presentation currency due to the charity's predominant operation in a non-British currency. However, due to the Annual return submission's default currency being British pounds, all US dollar amounts are displayed with the British pounds sign without being converted. ON BEHALF OF THE BOARD 29/09/2023 _(This document was digitally signed with Signable)_ Dr Uddesh Kumar Kohli (Secretary) **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 2022** **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 2022** ||**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 2022** 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** Ahmed Al Banna (Bahrain) Anita Chauhan (India) Christopher McDonagh (Ireland) Chien-Chung Shen (Taiwan) Chung-Cheng Lee (Taiwan) Harris Neeliah (Mauritius) CM Vignaesvaran (Malaysia) Tayo O. George (Nigeria) Ebrahim Al Dossary (Bahrain) Vinayshil Gautam (India) Ghalib Saif Al Hosni (Oman) Helmi Sallam (Egypt) Janet Lyabo Kofo Jolaoso (Nigeria) Meshack Justin Tafa (Botswana) Mohammad Bin Fahad (UAE) Patricia Phillips (USA) Raed Khanfar (Jordan) Rajcoomar Auckloo (Mauritius) Ranjan Kumar Mohapatra (India) Sanja Miovcic (Bosnia) Tayo Rotimi (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 2022** ## **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 about 25 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 was organized in New Delhi, India, on May 20-23, 2022, on the Theme:‘STRATEGIES FOR AN AGILE WORK CULTURE: PATHWAYS TO THE NEW AGE'. It was agreat success with 37 speakers and over 350 delegates. It has been decided to hold the 50th IFTDO World Conference and Golden Jubilee celebrations in Cairo in November 2023. The IFTDO – CWE Committee implemented the Project on ‘Agribusiness Empowerment for Women Small Holder Farmers within Local Communities’ funded by Total Energies, Nigeria. Proposal for a second IFTDO – CWE Project on Cassava Flour production was submitted to Total Energies, Nigeria which was approved and implementation commenced. CWE-Asia was inaugurated Registration of IFTDO-Africa was taken up. An MOU for Strategic Partnership Agreement between CWE and Ghana Women in Business Leadership Association to formally establish a mutually beneficial working relationship between the two parties, was signed.An MOU was signed with The Institute of Training & Occupational Learning (ITOL), UK, to initiate the Certification Programme with 3 Objective- (i) to raise and acknowledge increased professionalism and (ii) increase the membership of IFTDO, (iii) give IFTDO a Development & f 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. A Research Project on “Future of work' with focus on Post Pandemic work structure: select emergent issues” was undertaken. Four Issues of IFTDO News were published. IFTDO Website was redeveloped to meet the current and future top emerging technologies in terms of digitalization, and cloud base, etcA Project proposal “Social Justice for All through democratic leadership, positive learning and governance: Publication & Dissemination” for $200,000 grant from UN Democracy Fund was submittedIFTDO Website was redeveloped to meet the current and future top emerging technologies in terms of digitalization, and cloud base, etc during the year. ## **FINANCIAL REVIEW AND RESERVES POLICY** IFTDO's policy is to maintain reserves at around US$400,000 to ensure continuity of operation under all circumstances and to demonstrate sound financial management practices. ON BEHALF OF THE BOARD _(This document was digitally signed with Signable)_ Dr Uddesh Kumar Kohli (Secretary) 20 Mar 2023 **Page 3** ## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2022** |**Notes**
**Incoming resources**
_Incoming resources from generated funds_
Subscriptions
Conferences
Certification and training
Awards
Bank Interest
Development fund
**_Total incoming resources_**
**Resources expended**
_Charitable activities_
Award expenditure
Research expenditure
Development expenditure
Other costs
_Governance costs_
**5**
**_Total resources expended_**
**_Net incoming resources for the year_**
**6**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**2022**
**$**
19,940
20,000
-2,450
-
14,133
-
51,623
-
-
-
5,991
32,579
38,570
13,053
405,724
418,777|**Unrestricted**
**funds**
**2021**
**$**
41,915
-
-
-
6,877
-| |---|---|---| |||48,792| |||-
-
-
2,601
33,220| |||35,821| |||12,772
392,952| |||405,724| **The notes on pages 6 to 8 form part of these financial statements.** **Page 4** ## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2022** |**Notes**
**CURRENT ASSETS**
Debtors
**2**
Cash at the bank and in hand
**3**
**CREDITORS**
Amount falling due within
one year
**4**
**NET CURRENT ASSETS**
**NET ASSETS**
**RESERVES**
Profit and loss account
**TOTAL FUNDS**|**$**
**$**
**$**
**$**
-
-
501,343
479,363
501,343
479,363
-82,566
-73,639
418,777
405,724
418,777
405,724
418,777
405,724
418,777
405,724
**2022**
**2021**|**$**
**$**
**$**
**$**
-
-
501,343
479,363
501,343
479,363
-82,566
-73,639
418,777
405,724
418,777
405,724
418,777
405,724
418,777
405,724
**2022**
**2021**| |---|---|---| |||| |||405,724| |||405,724| |||405,724| For the year ended 31st December 2022, 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. 20 Mar 2023 The accounts were approved by the Board of Trustees on ………………………................. and were signed on its behalf by: _(This document was digitally signed with Signable)_ 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 2022** ## **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 2022** |**2**
**DEBTORS**
Trade Debtors
**3**
**CASH AT BANK**
Cash in hand
Lloyds TSB sterling account
Lloyds TSB dollar account
Longer term deposit account
Prepayments
**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
Deferred income - conference
Accruals and deferred income
**5**
**GOVERNANCE COSTS**
Management
Accounting
CEO fee
Bank charges
(Profit) / Loss on foreign exchange|**2022**
**$**
-
-
3,005
23,621
474,679
38
501,343
1,000
23,128
25,550
20,376
63
10,000
2,449
82,566
12,000
10,580
7,560
1,995
444
32,579|**2021**
**$**
-| |---|---|---| |||-
2,335
29,226
447,802
-| |||479,363| |||2,107
23,128
24,525
21,467
63
-
2,349| |||73,639| |||12,000
7,233
10,410
2,421
746| |||32,810| **Page 7** ## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725** ## **For the year ended 31st December 2022** ## **6 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 $12,000. ## **7 CHARITIABLE STATUS** The company is a registered charity. ## **8 TAXATION** The directors are of the opinion that the company's present activities are exempt from corporation tax. ## **9 COMPANY LIMITED BY GUARANTEE** The company is limited by guarantee and therefore there are no individual controlling parties. The company is controlled by the directors and its members. **Page 8** ## **The International Federation of Training and Development Organisations Limited** ## **Registered Company No. 1829725 For the year ended 31st December 2022** |**INCOME**
Subscriptions
Conferences
Certification and training
Awards
Sponsorship
Bank Interest
Development fund
**EXPENDITURE**
Award expenditure
Research expenditure
Development expenditure
Bank service charges
Office and equipment expenses
Postage and delivery
Printing,website and other
Management fees
Marketing
CEO fee
Travel and subsistence
Accountancy
(Profit) / Loss on foreign exchange
Others - Miscellaneaous|**2022**
**$**
19,940
20,000
-2,450
-
-
14,133
-
51,623
-
-
-
1,995
-
-
4,996
12,000
-
7,560
665
10,580
444
330
38,570
13,053|**2021**
**$**
41,915
-
-
-
-
6,877
-| |---|---|---| |||48,792| |||-
-
-
2,421
-
-
1,417
12,000
-
10,410
-
7,233
746
1,594| |||35,821| |||12,971| **Page 9** ## **Issuer** **Issuer** TaxAssist Accountants **Document generated** Mon, 20th Mar 2023 12:40:59 UTC **Document fingerprint** 693e59938b89862319ef71e1468b7736 ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Mon, 20th Mar 2023 13:23:28 UTC Dr Uddesh Kohli - Signer (bd1acadb3644c9969460637bed6d86ba) Mon, 20th Mar 2023 13:23:28 UTC Sergey Pimonov - Copied In (3aea6bf548540a8494c8ccd84bcc9c68) **Audit history log Date Action** Mon, 20th Mar 2023 13:23:30 UTC Dr Uddesh Kohli viewed the envelope. (49.36.139.71) Mon, 20th Mar 2023 13:23:29 UTC Document emailed to party email (3.10.151.89) Mon, 20th Mar 2023 13:23:28 UTC The envelope has been signed by all parties. (49.36.139.71) Mon, 20th Mar 2023 13:23:28 UTC Sent a copy of the envelope to Sergey Pimonov (sergeypimonovs@taxassist.co.uk). (49.36.139.71) Mon, 20th Mar 2023 13:23:28 UTC Dr Uddesh Kohli signed the envelope. (49.36.139.71) Mon, 20th Mar 2023 13:19:49 UTC Dr Uddesh Kohli viewed the envelope. (49.36.139.71) Mon, 20th Mar 2023 12:41:08 UTC Document emailed to party email (52.56.82.52) Mon, 20th Mar 2023 12:41:01 UTC Sent the envelope to Dr Uddesh Kohli for signing. (3.9.147.99) Mon, 20th Mar 2023 12:41:01 UTC Envelope has been set to automatically remind the active signer every 3 day(s). (3.9.147.99) Mon, 20th Mar 2023 12:41:01 UTC Sergey Pimonov has been assigned to this envelope. (3.9.147.99) Mon, 20th Mar 2023 12:41:01 UTC Dr Uddesh Kohli has been assigned to this envelope. (3.9.147.99) Mon, 20th Mar 2023 12:41:01 UTC Envelope generated. (3.9.147.99) Mon, 20th Mar 2023 12:41:01 UTC Document generated with fingerprint 693e59938b89862319ef71e1468b7736. (3.9.147.99) Mon, 20th Mar 2023 12:40:59 UTC Envelope generated with fingerprint 080949e5491409677e89b5f7b5b93b3b (35.176.231.177) (HARITY COMMISSION FOR ENGLAND ANO 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 LIMITEDITHEI On accounts for the year ended 31.12.2022 Charity no ,, 326633 (if anyl Set out on pages I report lo the Iruslees on my examinalion of the accounts of the above charity ("the Trust") for the year ended 31.12.2022 Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance wilh the requiremenls of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under seckn'on 145{5}{bl of the Act. Independent examiner's statement I have completed my examination. I confiTh that no malerial matters have come to my attention in connection with the examination (other than thal 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 nol accord with the accounting records,. or the accounts did not comply with the applicable requirements con￿mIng Ihe 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 understanding of the accounts to be reached. Please delete th rds in the b ckets rfthey do not apply. Signed: Date: 2310312023 Name: Alison Redwood IER 2018 Oct Relevant professional AFA qualification(s) or body Institute of Financial Accountants {if any}- Address: TaxAssist Accountants B7 Kestrel Court. Harbour Road Porlishead BS20 7AN Section 8 Disclosure Only complete if the examiner needs to highlight material matters of concern {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 2018 Oct