**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 2023**
**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 2023**
||**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 2023**
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 2023. 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**||
|---|---|
|Ghalib ALHOSNI|Oman|
|Dr Mohammad BIN FAHAD|UAE|
|Dr Nancy Burns|USA|
|Dr (Ms) Anita CHAUHAN|India|
|Dr Vinayshil Gautam|India|
|Dr (Mrs) Tayo Ola GEORGE|Nigeria|
|Mr Ayush GUPTA|India|
|Mrs Janet Iyabo Kofo JOLAOSO|Nigeria|
|Mr Raed Khanfar|Jordan|
|Mr Ranjan Kumar Mohapatra|India|
|Dr Harris NEELIAH|Mauritius|
|Dr Patricia PHILLIPS|USA|
|Prof Dr. Abraham PIUS|UK|
|Tayo ROTIMI|Nigeria|
|Dr Helmi Ibrahim SALLAM|Egypt|
|**Company Secretary**||
|Dr Uddesh Kumar Kohli|India|
Dr. Luis Pedro SERRA RAMOS Portugal Dr. Cheing-Chung SHEN Taiwan Dr. Haidamous WAFAA Lebanon
## **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 2023**
## **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**
**50th IFTDO World Conference** and Golden Jubilee Celebrations, Cairo, which were to be held in November 2023, had to be postponed to April 22-24, 2024. A Conference Task Force, under the Chairmanship of the President Helmi Sallam has been very actively working during 2023 on Conference Program and arrangements.
**Strategic Action Plan** – An elaborate Strategic Plan was prepared by the Strategy Committee headed by Tayo Rotimi. The Action Plan, recommended by the Committee, was largely approved by the Board.
**Webinars** - 3 webinars were organized, conducted by Dr. Ahmed, Dr. Patti Phillips, and Dr. Abdullah Al Hamed, between June to Dec 2023.
**Website** : A new website has been developed and launched after revamping the existing website.
**Newsletter:** Three Newsletters, edited by Dr. A C Joshi, were released during 2023.
**Women Empowerment Project in Nigeria** - The second IFTDO-TOTAL Energies Project approved in 2022 by Total Energies, Nigeria, was implemented during 2023. The third Empowerment grant was also paid to 23 widows across two states on December 12 and 19, 2023, and the Program was very successful, with widows expressing their gratitude and joy. Two Orientation Programs were organized for freshers at the Covenant University, Nigeria
IFTDO continues to have **consultative status with ECOSOC of UN** . It continued to participate in United Nations activities, including the **UN Global Compact Program** which is aimed at corporate citizenship in which over 10,000 organisations are participating in over 130 countries.
## **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
04 Mar 2024
U K Kohli
_(This document was digitally signed with Signable)_
Dr Uddesh Kumar Kohli (Secretary)
**Page 3**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2023**
|**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**
Provision for Bad debts
**_Total resources expended_**
**_Net incoming resources for the year_**
**6**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**2023**
**£**
29,385
-
-
-
9,660
-
39,046
-
-
-
1,033
24,152
942
26,127
12,919
328,816
341,735|**Unrestricted**
**funds**
**2022**
**£**
15,657
15,704
-1,924
-
11,097
-|
|---|---|---|
|||40,533|
|||-
-
-
4,704
25,580
-|
|||30,284|
|||10,249
318,567|
|||328,816|
**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 2023**
|**Notes**
**CURRENT ASSETS**
Debtors
**2**
Provision for Bad debts
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**|**£**
**£**
**£**
**£**
17,313
-
17,313
-
-
408,133
393,645
408,133
393,645
-66,398
-64,829
341,735
328,816
341,735
328,816
341,735
328,816
341,735
328,816
**2023**
**2022**|**£**
**£**
**£**
**£**
17,313
-
17,313
-
-
408,133
393,645
408,133
393,645
-66,398
-64,829
341,735
328,816
341,735
328,816
341,735
328,816
341,735
328,816
**2023**
**2022**|
|---|---|---|
||||
|||328,816|
|||328,816|
|||328,816|
For the year ended 31st December 2023, 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. 04 Mar 2024
The accounts were approved by the Board of Trustees on ………………………................. and were signed on its behalf by:
## U K Kohli
_(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**
**1 ACCOUNTING POLICIES**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725**
## **For the year ended 31st December 2023**
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**
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
## **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.
## **Change in presentation currency**
On 1 January 2023, The International Federation of Training and Development Organisations Limited changed its reporting currency from US Dollars to sterling to provide greater transparency for stakeholders in the UK. In accordance with IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors, this change in presentational currency was applied retrospectively and accordingly, prior year comparatives have been restated.
**Page 6**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2023**
|**2**
**DEBTORS**
Trade Debtors
less Provision for Bad debts
**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|**2023**
**£**
17,313
-17,313
-
-
2,484
22,617
383,032
-
408,133
1,162
18,160
20,988
15,999
50
7,852
2,188
66,398
14,133
6,831
1,468
1,450
269
24,152|**2022**
**£**
-
-|
|---|---|---|
|||-
-
2,359
18,547
372,709
30|
|||393,645|
|||785
18,160
20,061
15,999
49
7,852
1,923|
|||64,829|
|||9,422
8,307
5,936
1,566
349|
|||25,580|
**Page 7**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725**
## **For the year ended 31st December 2023**
## **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 £14,133.
## **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 2023**
|**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
Provision for Bad debts - increase|**2023**
**£**
29,385
-
0
-
-
9,660
-
39,046
-
-
-
1,450
-
-
761
14,133
-
1,468
-
6,831
269
272
942
26,127
12,919|**2022**
**£**
15,657
15,704
-1,924
-
-
11,097
-|
|---|---|---|
|||40,533|
|||-
-
-
1,566
-
-
3,923
9,422
-
5,936
522
8,307
349
259
-|
|||30,284|
|||10,249|
**Page 9**
## **Issuer**
## TaxAssist Accountants
**Document generated** Mon, 4th Mar 2024 13:36:16 UTC **Document fingerprint** 678505b12bc554fa45ee5adf250bd121
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
Tue, 5th Mar 2024 13:19:35 UTC Dr Uddesh Kohli - Signer (ecb945ad625b83e9c3659fb395e214cc) Tue, 5th Mar 2024 13:19:36 UTC Sergey Pimonov - Copied In (e1cc24767f5a90cee8bdcb98ade894f7) **Audit history log Date Action** Tue, 5th Mar 2024 13:19:38 UTC Dr Uddesh Kohli viewed the envelope (49.36.138.57) Tue, 5th Mar 2024 13:19:36 UTC Document emailed to party email (18.170.57.59) Tue, 5th Mar 2024 13:19:36 UTC This envelope has been signed by all parties (49.36.138.57) Tue, 5th Mar 2024 13:19:36 UTC Sent the envelope to Sergey Pimonov for signing (49.36.138.57) Tue, 5th Mar 2024 13:19:35 UTC Dr Uddesh Kohli signed the envelope (49.36.138.57) Tue, 5th Mar 2024 13:17:27 UTC Dr Uddesh Kohli viewed the envelope (49.36.138.57) Mon, 4th Mar 2024 13:36:25 UTC Document emailed to party email (13.40.209.74) Mon, 4th Mar 2024 13:36:18 UTC Sent the envelope to Dr Uddesh Kohli for signing. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Envelope has been set to automatically remind the active signer every 3 day(s). (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Sergey Pimonov has been assigned to this envelope. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Dr Uddesh Kohli has been assigned to this envelope. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Envelope generated. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Document generated with fingerprint 678505b12bc554fa45ee5adf250bd121. (18.134.205.28) Mon, 4th Mar 2024 13:36:16 UTC Envelope generated with fingerprint 6c1bc4f1c9871685f98b039209dd906d (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 2023**
**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 2023**
||**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 2023**
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 2023. 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**||
|---|---|
|Ghalib ALHOSNI|Oman|
|Dr Mohammad BIN FAHAD|UAE|
|Dr Nancy Burns|USA|
|Dr (Ms) Anita CHAUHAN|India|
|Dr Vinayshil Gautam|India|
|Dr (Mrs) Tayo Ola GEORGE|Nigeria|
|Mr Ayush GUPTA|India|
|Mrs Janet Iyabo Kofo JOLAOSO|Nigeria|
|Mr Raed Khanfar|Jordan|
|Mr Ranjan Kumar Mohapatra|India|
|Dr Harris NEELIAH|Mauritius|
|Dr Patricia PHILLIPS|USA|
|Prof Dr. Abraham PIUS|UK|
|Tayo ROTIMI|Nigeria|
|Dr Helmi Ibrahim SALLAM|Egypt|
|**Company Secretary**||
|Dr Uddesh Kumar Kohli|India|
Dr. Luis Pedro SERRA RAMOS Portugal Dr. Cheing-Chung SHEN Taiwan Dr. Haidamous WAFAA Lebanon
## **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 2023**
## **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**
**50th IFTDO World Conference** and Golden Jubilee Celebrations, Cairo, which were to be held in November 2023, had to be postponed to April 22-24, 2024. A Conference Task Force, under the Chairmanship of the President Helmi Sallam has been very actively working during 2023 on Conference Program and arrangements.
**Strategic Action Plan** – An elaborate Strategic Plan was prepared by the Strategy Committee headed by Tayo Rotimi. The Action Plan, recommended by the Committee, was largely approved by the Board.
**Webinars** - 3 webinars were organized, conducted by Dr. Ahmed, Dr. Patti Phillips, and Dr. Abdullah Al Hamed, between June to Dec 2023.
**Website** : A new website has been developed and launched after revamping the existing website.
**Newsletter:** Three Newsletters, edited by Dr. A C Joshi, were released during 2023.
**Women Empowerment Project in Nigeria** - The second IFTDO-TOTAL Energies Project approved in 2022 by Total Energies, Nigeria, was implemented during 2023. The third Empowerment grant was also paid to 23 widows across two states on December 12 and 19, 2023, and the Program was very successful, with widows expressing their gratitude and joy. Two Orientation Programs were organized for freshers at the Covenant University, Nigeria
IFTDO continues to have **consultative status with ECOSOC of UN** . It continued to participate in United Nations activities, including the **UN Global Compact Program** which is aimed at corporate citizenship in which over 10,000 organisations are participating in over 130 countries.
## **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
04 Mar 2024
U K Kohli
_(This document was digitally signed with Signable)_
Dr Uddesh Kumar Kohli (Secretary)
**Page 3**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2023**
|**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**
Provision for Bad debts
**_Total resources expended_**
**_Net incoming resources for the year_**
**6**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**2023**
**£**
29,385
-
-
-
9,660
-
39,046
-
-
-
1,033
24,152
942
26,127
12,919
328,816
341,735|**Unrestricted**
**funds**
**2022**
**£**
15,657
15,704
-1,924
-
11,097
-|
|---|---|---|
|||40,533|
|||-
-
-
4,704
25,580
-|
|||30,284|
|||10,249
318,567|
|||328,816|
**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 2023**
|**Notes**
**CURRENT ASSETS**
Debtors
**2**
Provision for Bad debts
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**|**£**
**£**
**£**
**£**
17,313
-
17,313
-
-
408,133
393,645
408,133
393,645
-66,398
-64,829
341,735
328,816
341,735
328,816
341,735
328,816
341,735
328,816
**2023**
**2022**|**£**
**£**
**£**
**£**
17,313
-
17,313
-
-
408,133
393,645
408,133
393,645
-66,398
-64,829
341,735
328,816
341,735
328,816
341,735
328,816
341,735
328,816
**2023**
**2022**|
|---|---|---|
||||
|||328,816|
|||328,816|
|||328,816|
For the year ended 31st December 2023, 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. 04 Mar 2024
The accounts were approved by the Board of Trustees on ………………………................. and were signed on its behalf by:
## U K Kohli
_(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**
**1 ACCOUNTING POLICIES**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725**
## **For the year ended 31st December 2023**
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**
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
## **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.
## **Change in presentation currency**
On 1 January 2023, The International Federation of Training and Development Organisations Limited changed its reporting currency from US Dollars to sterling to provide greater transparency for stakeholders in the UK. In accordance with IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors, this change in presentational currency was applied retrospectively and accordingly, prior year comparatives have been restated.
**Page 6**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2023**
|**2**
**DEBTORS**
Trade Debtors
less Provision for Bad debts
**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|**2023**
**£**
17,313
-17,313
-
-
2,484
22,617
383,032
-
408,133
1,162
18,160
20,988
15,999
50
7,852
2,188
66,398
14,133
6,831
1,468
1,450
269
24,152|**2022**
**£**
-
-|
|---|---|---|
|||-
-
2,359
18,547
372,709
30|
|||393,645|
|||785
18,160
20,061
15,999
49
7,852
1,923|
|||64,829|
|||9,422
8,307
5,936
1,566
349|
|||25,580|
**Page 7**
## **The International Federation of Training and Development Organisations Limited Registered Company No. 1829725**
## **For the year ended 31st December 2023**
## **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 £14,133.
## **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 2023**
|**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
Provision for Bad debts - increase|**2023**
**£**
29,385
-
0
-
-
9,660
-
39,046
-
-
-
1,450
-
-
761
14,133
-
1,468
-
6,831
269
272
942
26,127
12,919|**2022**
**£**
15,657
15,704
-1,924
-
-
11,097
-|
|---|---|---|
|||40,533|
|||-
-
-
1,566
-
-
3,923
9,422
-
5,936
522
8,307
349
259
-|
|||30,284|
|||10,249|
**Page 9**
## **Issuer**
## TaxAssist Accountants
**Document generated** Mon, 4th Mar 2024 13:36:16 UTC **Document fingerprint** 678505b12bc554fa45ee5adf250bd121
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
Tue, 5th Mar 2024 13:19:35 UTC Dr Uddesh Kohli - Signer (ecb945ad625b83e9c3659fb395e214cc) Tue, 5th Mar 2024 13:19:36 UTC Sergey Pimonov - Copied In (e1cc24767f5a90cee8bdcb98ade894f7) **Audit history log Date Action** Tue, 5th Mar 2024 13:19:38 UTC Dr Uddesh Kohli viewed the envelope (49.36.138.57) Tue, 5th Mar 2024 13:19:36 UTC Document emailed to party email (18.170.57.59) Tue, 5th Mar 2024 13:19:36 UTC This envelope has been signed by all parties (49.36.138.57) Tue, 5th Mar 2024 13:19:36 UTC Sent the envelope to Sergey Pimonov for signing (49.36.138.57) Tue, 5th Mar 2024 13:19:35 UTC Dr Uddesh Kohli signed the envelope (49.36.138.57) Tue, 5th Mar 2024 13:17:27 UTC Dr Uddesh Kohli viewed the envelope (49.36.138.57) Mon, 4th Mar 2024 13:36:25 UTC Document emailed to party email (13.40.209.74) Mon, 4th Mar 2024 13:36:18 UTC Sent the envelope to Dr Uddesh Kohli for signing. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Envelope has been set to automatically remind the active signer every 3 day(s). (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Sergey Pimonov has been assigned to this envelope. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Dr Uddesh Kohli has been assigned to this envelope. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Envelope generated. (18.134.205.28) Mon, 4th Mar 2024 13:36:18 UTC Document generated with fingerprint 678505b12bc554fa45ee5adf250bd121. (18.134.205.28) Mon, 4th Mar 2024 13:36:16 UTC Envelope generated with fingerprint 6c1bc4f1c9871685f98b039209dd906d (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
31.12.2023
Charity no
(if any)
326633
Set out on pages
ftiimb&.r8 ol addi',ional sheelsl
I report to the trustees on my examination of the accounts of the above
charity {"the Trust.) for the year ended 31.12.2023.
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'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 confirm 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 Charities Act. or
the accounts did not accord with the accounting records., or
the accounts did not comply with the applicable requirements
concerning 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 concerns 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.
Signed:
Date:
1110312024
Name:
Alison Redwood
IER
2018
Oct
Relevant professional
qualification(s) or body
{if any):
Address:
AFA
Institute of Financial Accountants
TaxAssist Accountants
B7 Kestrel Court. Harbour Road
Portishead BS20 7AN
Section B
Disclosure
Only complete if the examiner needs to highlight material matters of concern
(see CC32, Independent examination of charity accounts: directions and
uidance for examiners
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
2018
Oct