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 2024
TaxAssist Accountants Kestrel Court Portishead Somerset BS20 7AN
Page 1 of 11
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
Contents for the year ended 31st December 2024
| Page | |
|---|---|
| Report of the Trustees | 3 to 5 |
| Statement of Financial | |
| Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial | |
| Statements | 8 to 10 |
| Detailed Income and Expenditure | |
| Account | 11 |
Page 2 of 11
Report of the Trustees
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
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 2024. 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
Ghalib ALHOSNI Oman Mr Atul SHAH India Mr Peter Cosiamo BAVUSO USA Dr Cheing-Chung SHEN Taiwan Dr Vinayshil GAUTAM Nigeria Dr Haidamous WAFAA Lebanon Dr (Mrs) Tayo Ola GEORGE India Ms Teresa VALAIS USA Mr Ayush GUPTA India Mr Sheikh Faleigh SHEIKH MANSOR Malaysia Mr Ravi Ranjan Kumar GURU India Mrs Janet Iyabo Kofo JOLAOSO Nigeria Mr Raed KHANFAR Singapore Mr Lai Mun Fatt LAI Jordan Mr Naveen LAKSHMAIYA Fiji Dr Patricia PHILLIPS USA Tayo ROTIMI Egypt Dr Helmi Ibrahim SALLAM Nigeria Dr. Mohamed Mahmood Mohamed SHAIKH Bahrain Company Secretary Dr Uddesh Kumar KOHLI India
Accountants
TaxAssist Accountants Kestrel Court, Portishead Somerset, BS20 7AN
Page 3 of 11
Report of the Trustees
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
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 multinational 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 4 of 11
Report of the Trustees
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
ACHIEVEMENTS AND PERFORMANCE
50th IFTDO World Conference and Golden Jubilee Celebrations, Cairo -
These were held successfully on April 22-24, 2024, in Cairo. The Conference was attended by about 350 participants, including invitees and over 200 foreign participants from 20 countries. There were about 26 speakers. The Finance Minister of Egypt presented IFTO Global Awards 2024 on April 23 at the Golden Jubilee Dinner and gave away the special Medallions to the past Presidents, Chairs and Board members.
Strategic Action Plan – An elaborate Strategic Plan was prepared by the Strategy Committee headed. The Action Plan, recommended by the Committee, was approved by the Board.
Webinars - 4 webinars were organized during the year
Website - A new website has been developed and launched after revamping the existing website. Newsletter: Four Newsletters, edited by Dr A C Joshi were released during 2024.
Publications - Two, books by Board members "You are not alone " and “Plain Speak Management” were published in 2024. IFTDO bought/is buying 200 copies of each book
Women Empowerment Project in Nigeria - A summit with the theme "Knowledge Sharing for Women Empowerment Beyond 2030” was organized in Collaboration with the West African Management Development Institutes Network (WAMDEVIN) on September 12, 2024, in Nigeria. There was also an exhibition, tour of Xtralarge Farm & Resorts, empowerment sessions, cultural display and lots more. A grant for the 4th Women Empowerment from Total Energies was approved
Executive Director - An Executive Director was appointed with effect from July 1, 2024.
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
U K Kohli 15 Mar 2025
Dr Uddesh Kumar Kohli (Secretary)
(This document was digitally signed via Signable)
Page 5 of 11
Statement of Financial Activities
The International Federation of Training and Development Organisations Limited
Registered Company No. 1829725 For the year ended 31st December 2024
| Notes Incoming resources Incoming resources from generated funds Subscriptions Conferences Certification and training Awards Bank Interest Development fund Provision for bad debts 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 Other comprehensive income (IAS 21) Total funds carried forward |
Unrestricted funds 2024 £ 25,322 - - 222 13,680 - 6,162 45,386 10,239 - - 14,029 33,249 - 57,517 -12,131 347,400 -481 334,788 |
Unrestricted funds 2023 £ 29,385 - - - 9,660 - - |
|---|---|---|
| 39,046 | ||
| - - - 1,033 24,152 942 |
||
| 26,127 | ||
| 12,919 328,816 5,665 |
||
| 347,400 |
Page 6 of 11
Balance Sheet
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
For the year ended 31st December 2024
| 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 |
2024 £ £ 7,647 -7,647 393,326 393,326 -58,538 334,788 334,788 334,788 334,788 |
2023 £ 17,600 -17,600 414,899 |
£ 347,400 |
|---|---|---|---|
| 393,326 | 414,899 | ||
| -58,538 | -67,499 | ||
| 347,400 | |||
| 347,400 | |||
| 347,400 |
For the year ended 31st December 2024, 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.
15 Mar 2025
The accounts were approved by the Board of Trustees on ………………………................. and were signed on its behalf by:
U K Kohli
Dr Uddesh Kumar Kohli (Secretary) (This document was digitally signed via Signable)
(Secretary)
Page 7 of 11
Notes to the Financial Statements
1
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
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
The results and financial position of an entity whose functional currency is not the currency of a hyperinflationary economy are translated into a different presentation currency using the following procedures: [IAS 21.39]
-
assets and liabilities for each balance sheet presented (including comparatives) are translated at the closing rate at the date of that balance sheet. This would include any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation are treated as part of the assets and liabilities of the foreign operation [IAS 21.47];
-
income and expenses for each income statement (including comparatives) are translated at exchange rates at the dates of the transactions; and
-
all resulting exchange differences are recognised in other comprehensive income.
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 8 of 11
Notes to the Financial Statements
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
| 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 Executive director’s fee Bank charges (Profit) / Loss on foreign exchange |
2024 £ 7,647 -7,647 - - 2,482 39,290 351,554 - 393,326 -16 18,461 21,711 16,043 51 - 2,288 58,538 14,368 6,849 9,578 2,032 422 33,249 |
2023 £ 17,600 -17,600 |
|---|---|---|
| - | ||
| - 2,525 22,992 389,382 - |
||
| 414,899 | ||
| 1,181 18,461 21,336 16,264 51 7,982 2,225 |
||
| 67,499 | ||
| 14,133 6,831 1,468 1,450 269 |
||
| 24,152 |
Page 9 of 11
Notes to the Financial Statements
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
For the year ended 31st December 2024
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 £14,368.
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 10 of 11
Detailed Income and Expenditure Account
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
| INCOME Subscriptions Conferences Certification and training Awards Sponsorship Bank interest Development fund Provision for bad debts - decrease EXPENDITURE Award expenditure Research expenditure Development expenditure Bank service charges Office and equipment expenses Postage and delivery Printing, website and other Management fees Marketing Executive director’s fee Travel and subsistence Accountancy (Profit) / Loss on foreign exchange Others - miscellaneous Provision for bad debts - increase |
2024 £ 25,322 - - 222 - 13,680 - 6,162 45,386 10,239 - - 2,032 - - 12,218 14,368 - 9,578 1,433 6,849 422 378 - 57,517 -12,131 |
2023 £ 29,385 - - - - 9,660 - - |
|---|---|---|
| 39,046 | ||
| - - - 1,450 - - 761 14,133 - 1,468 - 6,831 269 272 942 |
||
| 26,127 | ||
| 12,919 |
Page 11 of 11
Issuer
TaxAssist Accountants
Document generated Tue, 11th Mar 2025 16:07:43 GMT
Document fingerprint edd76f99c9b97ace3a9c5de9e946254d
Parties involved with this document
Document processed
Party + Fingerprint
Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:13 GMT
Dr Uddesh Kohli - Signer (756b08cb5140bd3faf85d65f19e97d9c) Sergey Pimonov - Copied In (e0efd511a9c531f906b9098d85895c6f)
Audit history log
Date
Action
Tue, 11th Mar 2025 16:07:43 GMT
Envelope generated with fingerprint
a5e5dbc9381780357eaa5d66c1bc1fa318.133.63.166
Tue, 11th Mar 2025 16:07:43 GMT
Tue, 11th Mar 2025 16:07:43 GMT Tue, 11th Mar 2025 16:07:43 GMT Tue, 11th Mar 2025 16:07:43 GMT
Tue, 11th Mar 2025 16:07:52 GMT Tue, 11th Mar 2025 16:07:52 GMT Tue, 11th Mar 2025 16:07:52 GMT Fri, 14th Mar 2025 16:08:04 GMT Sat, 15th Mar 2025 5:29:15 GMT Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:14 GMT Sat, 15th Mar 2025 5:33:14 GMT
Document generated with fingerprint
edd76f99c9b97ace3a9c5de9e946254d.18.133.63.166 Dr Uddesh Kohli has been assigned to this envelope.18.133.63.166 Sergey Pimonov has been assigned to this envelope.18.133.63.166 Envelope has been set to automatically remind the active signer every 3 day(s).18.133.63.166
Envelope generated
Sent the envelope to Dr Uddesh Kohli for signing Document emailed to party email13.40.112.121 Document emailed to party email18.135.27.77 Dr Uddesh Kohli viewed the envelope152.58.64.30 Dr Uddesh Kohli signed the envelope152.58.64.30 Sent the envelope to Sergey Pimonov for signing152.58.64.30 This envelope has been signed by all parties152.58.64.30 Document emailed to party email18.169.237.77 Dr Uddesh Kohli viewed the envelope152.58.64.30
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 2024
TaxAssist Accountants Kestrel Court Portishead Somerset BS20 7AN
Page 1 of 11
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
Contents for the year ended 31st December 2024
| Page | |
|---|---|
| Report of the Trustees | 3 to 5 |
| Statement of Financial | |
| Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial | |
| Statements | 8 to 10 |
| Detailed Income and Expenditure | |
| Account | 11 |
Page 2 of 11
Report of the Trustees
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
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 2024. 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
Ghalib ALHOSNI Oman Mr Atul SHAH India Mr Peter Cosiamo BAVUSO USA Dr Cheing-Chung SHEN Taiwan Dr Vinayshil GAUTAM Nigeria Dr Haidamous WAFAA Lebanon Dr (Mrs) Tayo Ola GEORGE India Ms Teresa VALAIS USA Mr Ayush GUPTA India Mr Sheikh Faleigh SHEIKH MANSOR Malaysia Mr Ravi Ranjan Kumar GURU India Mrs Janet Iyabo Kofo JOLAOSO Nigeria Mr Raed KHANFAR Singapore Mr Lai Mun Fatt LAI Jordan Mr Naveen LAKSHMAIYA Fiji Dr Patricia PHILLIPS USA Tayo ROTIMI Egypt Dr Helmi Ibrahim SALLAM Nigeria Dr. Mohamed Mahmood Mohamed SHAIKH Bahrain Company Secretary Dr Uddesh Kumar KOHLI India
Accountants
TaxAssist Accountants Kestrel Court, Portishead Somerset, BS20 7AN
Page 3 of 11
Report of the Trustees
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
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 multinational 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 4 of 11
Report of the Trustees
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
ACHIEVEMENTS AND PERFORMANCE
50th IFTDO World Conference and Golden Jubilee Celebrations, Cairo -
These were held successfully on April 22-24, 2024, in Cairo. The Conference was attended by about 350 participants, including invitees and over 200 foreign participants from 20 countries. There were about 26 speakers. The Finance Minister of Egypt presented IFTO Global Awards 2024 on April 23 at the Golden Jubilee Dinner and gave away the special Medallions to the past Presidents, Chairs and Board members.
Strategic Action Plan – An elaborate Strategic Plan was prepared by the Strategy Committee headed. The Action Plan, recommended by the Committee, was approved by the Board.
Webinars - 4 webinars were organized during the year
Website - A new website has been developed and launched after revamping the existing website. Newsletter: Four Newsletters, edited by Dr A C Joshi were released during 2024.
Publications - Two, books by Board members "You are not alone " and “Plain Speak Management” were published in 2024. IFTDO bought/is buying 200 copies of each book
Women Empowerment Project in Nigeria - A summit with the theme "Knowledge Sharing for Women Empowerment Beyond 2030” was organized in Collaboration with the West African Management Development Institutes Network (WAMDEVIN) on September 12, 2024, in Nigeria. There was also an exhibition, tour of Xtralarge Farm & Resorts, empowerment sessions, cultural display and lots more. A grant for the 4th Women Empowerment from Total Energies was approved
Executive Director - An Executive Director was appointed with effect from July 1, 2024.
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
U K Kohli 15 Mar 2025
Dr Uddesh Kumar Kohli (Secretary)
(This document was digitally signed via Signable)
Page 5 of 11
Statement of Financial Activities
The International Federation of Training and Development Organisations Limited
Registered Company No. 1829725 For the year ended 31st December 2024
| Notes Incoming resources Incoming resources from generated funds Subscriptions Conferences Certification and training Awards Bank Interest Development fund Provision for bad debts 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 Other comprehensive income (IAS 21) Total funds carried forward |
Unrestricted funds 2024 £ 25,322 - - 222 13,680 - 6,162 45,386 10,239 - - 14,029 33,249 - 57,517 -12,131 347,400 -481 334,788 |
Unrestricted funds 2023 £ 29,385 - - - 9,660 - - |
|---|---|---|
| 39,046 | ||
| - - - 1,033 24,152 942 |
||
| 26,127 | ||
| 12,919 328,816 5,665 |
||
| 347,400 |
Page 6 of 11
Balance Sheet
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
For the year ended 31st December 2024
| 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 |
2024 £ £ 7,647 -7,647 393,326 393,326 -58,538 334,788 334,788 334,788 334,788 |
2023 £ 17,600 -17,600 414,899 |
£ 347,400 |
|---|---|---|---|
| 393,326 | 414,899 | ||
| -58,538 | -67,499 | ||
| 347,400 | |||
| 347,400 | |||
| 347,400 |
For the year ended 31st December 2024, 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.
15 Mar 2025
The accounts were approved by the Board of Trustees on ………………………................. and were signed on its behalf by:
U K Kohli
Dr Uddesh Kumar Kohli (Secretary) (This document was digitally signed via Signable)
(Secretary)
Page 7 of 11
Notes to the Financial Statements
1
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
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
The results and financial position of an entity whose functional currency is not the currency of a hyperinflationary economy are translated into a different presentation currency using the following procedures: [IAS 21.39]
-
assets and liabilities for each balance sheet presented (including comparatives) are translated at the closing rate at the date of that balance sheet. This would include any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation are treated as part of the assets and liabilities of the foreign operation [IAS 21.47];
-
income and expenses for each income statement (including comparatives) are translated at exchange rates at the dates of the transactions; and
-
all resulting exchange differences are recognised in other comprehensive income.
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 8 of 11
Notes to the Financial Statements
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
| 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 Executive director’s fee Bank charges (Profit) / Loss on foreign exchange |
2024 £ 7,647 -7,647 - - 2,482 39,290 351,554 - 393,326 -16 18,461 21,711 16,043 51 - 2,288 58,538 14,368 6,849 9,578 2,032 422 33,249 |
2023 £ 17,600 -17,600 |
|---|---|---|
| - | ||
| - 2,525 22,992 389,382 - |
||
| 414,899 | ||
| 1,181 18,461 21,336 16,264 51 7,982 2,225 |
||
| 67,499 | ||
| 14,133 6,831 1,468 1,450 269 |
||
| 24,152 |
Page 9 of 11
Notes to the Financial Statements
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725
For the year ended 31st December 2024
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 £14,368.
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 10 of 11
Detailed Income and Expenditure Account
The International Federation of Training and Development Organisations Limited Registered Company No. 1829725 For the year ended 31st December 2024
| INCOME Subscriptions Conferences Certification and training Awards Sponsorship Bank interest Development fund Provision for bad debts - decrease EXPENDITURE Award expenditure Research expenditure Development expenditure Bank service charges Office and equipment expenses Postage and delivery Printing, website and other Management fees Marketing Executive director’s fee Travel and subsistence Accountancy (Profit) / Loss on foreign exchange Others - miscellaneous Provision for bad debts - increase |
2024 £ 25,322 - - 222 - 13,680 - 6,162 45,386 10,239 - - 2,032 - - 12,218 14,368 - 9,578 1,433 6,849 422 378 - 57,517 -12,131 |
2023 £ 29,385 - - - - 9,660 - - |
|---|---|---|
| 39,046 | ||
| - - - 1,450 - - 761 14,133 - 1,468 - 6,831 269 272 942 |
||
| 26,127 | ||
| 12,919 |
Page 11 of 11
Issuer
TaxAssist Accountants
Document generated Tue, 11th Mar 2025 16:07:43 GMT
Document fingerprint edd76f99c9b97ace3a9c5de9e946254d
Parties involved with this document
Document processed
Party + Fingerprint
Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:13 GMT
Dr Uddesh Kohli - Signer (756b08cb5140bd3faf85d65f19e97d9c) Sergey Pimonov - Copied In (e0efd511a9c531f906b9098d85895c6f)
Audit history log
Date
Action
Tue, 11th Mar 2025 16:07:43 GMT
Envelope generated with fingerprint
a5e5dbc9381780357eaa5d66c1bc1fa318.133.63.166
Tue, 11th Mar 2025 16:07:43 GMT
Tue, 11th Mar 2025 16:07:43 GMT Tue, 11th Mar 2025 16:07:43 GMT Tue, 11th Mar 2025 16:07:43 GMT
Tue, 11th Mar 2025 16:07:52 GMT Tue, 11th Mar 2025 16:07:52 GMT Tue, 11th Mar 2025 16:07:52 GMT Fri, 14th Mar 2025 16:08:04 GMT Sat, 15th Mar 2025 5:29:15 GMT Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:13 GMT Sat, 15th Mar 2025 5:33:14 GMT Sat, 15th Mar 2025 5:33:14 GMT
Document generated with fingerprint
edd76f99c9b97ace3a9c5de9e946254d.18.133.63.166 Dr Uddesh Kohli has been assigned to this envelope.18.133.63.166 Sergey Pimonov has been assigned to this envelope.18.133.63.166 Envelope has been set to automatically remind the active signer every 3 day(s).18.133.63.166
Envelope generated
Sent the envelope to Dr Uddesh Kohli for signing Document emailed to party email13.40.112.121 Document emailed to party email18.135.27.77 Dr Uddesh Kohli viewed the envelope152.58.64.30 Dr Uddesh Kohli signed the envelope152.58.64.30 Sent the envelope to Sergey Pimonov for signing152.58.64.30 This envelope has been signed by all parties152.58.64.30 Document emailed to party email18.169.237.77 Dr Uddesh Kohli viewed the envelope152.58.64.30
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 31.12.2024 Charity no (if any) 326633 Set out on pages 1-11 I report to the trustees on my examination of the accounts of the above charity ('the Trust") for the year ended 31.12.2024. 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 carrying 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 examination49t ) which gives me Gause 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 conceming 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 if they do not apply. Signed: Date: 2410212025 IER 2018 Oct
Name: Alison Redwood 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