**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