The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019)
International Futures Forum (IFF) is an educational charity with a mission to develop the capacities needed to live well and operate effectively in the complex conditions of the 21st century. The charity is an independent organisation headquartered in Aberdour, Fife with the following charitable purposes: to promote and advance education of all people, to enable them to meet their social and economic aspirations in the face of a complex present and an uncertain future; to encourage and facilitate research and practical collaboration in particular in the fields of health, learning, responsible enterprise and governance through meetings, publications and otherwise; to promote education in and development of the capacities required to restore effectiveness in action in the face of contemporary challenges at all levels locally and internationally for the benefit of the public.
The year 2024/25 was marked by significant ongoing transition and testing conditions for IFF, alongside continued delivery of impactful work supporting people and organisations across diverse public sector and civil society contexts to rise to meet this moment. Much of the year was shaped by navigating a challenging financial operating environment. At the same time, IFF sustained delivery, deepened key partnerships, developed and tested new propositions, and undertook strategic development work to lay the groundwork for a more stable and prosperous future operating model. A three day in person gathering for members of the widespread IFF community in summer 2024 was a significant marker of ongoing relationship, commitment and mutual support.
IFF continued to build momentum in its Health & Care work, convening practitioners who are working to grow hopeful pockets of the future within these systems through the IFF Health & Care Gathering. This community – nested within the wider IFF community – provided a reflective and supportive space for exploring system transition, with learning and insights rippling into the diverse wider networks and contexts members are a part of and working within. During the year, IFF contributed to national conversations about the future of health systems, including submitting a response to the UK Government’s engagement on the future of the NHS, framed through a Three Horizons perspective. This work prompted constructive engagement with Scottish Government colleagues, including a positive response from Neil Gray MSP and further dialogue with senior officials regarding future collaboration.
IFF’s work on the To Zero initiative - focused on ending childhood sexual violence - continued throughout 2024, with IFF acting as a design, facilitation and learning partner. Phase 1 of To Zero concluded in January 2025 with the publication and launch of A Vision to Zero: a roadmap to ending childhood sexual violence, representing a significant milestone and an important contribution to this work. Building on this, IFF was subsequently confirmed as a critical partner for the next phase of the To Zero initiative, spreading the visioning and pathfinding process, taking a field-level view of the cultural and system changes required to bring the vision to life and supporting the move into action.
Alongside this, IFF supported a range of partners across the public sector and civil society, releasing potential to respond to complex challenges with hope and agency. This included working with the Senior Leadership Teams at the Robertson Trust and NatureScot to support their response to today’s challenging times; supporting NHS Bristol, North Somerset and South Gloucestershire (BNSSG) to scope its Healthier Together Intelligence Centre transformation programme; and working with NHS England to develop a bespoke adaptation of the IFF World Game enabling clinicians to take a wider, systemic view of health challenges and their role in responding to them.
Three Horizons remained a central pillar of IFF’s work throughout the year. IFF delivered a range of Three Horizons workshops, training and facilitation with organisations across the public, voluntary and philanthropic sectors, supporting leaders and teams to convene people, explore transformation and move into action. IFF prioritised the development of Future Stewards, an initiative dedicated to spreading, deepening and evolving Three Horizons practice in service of a flourishing future. Within this, IFF launched a new Three Horizons Facilitator Training and scoped a new ‘Future Stewards Studio’ organisational learning partner offer to be tested in 2025 – both of which marked important steps towards replicable and scalable offers, while also contributing to the wider spread of the practice.
IFF’s established Kitbag initiative – intentionally designed to grow psychological capacity in children, young people, families, organisations and communities – continued to develop and spread. During the year, IFF delivered Kitbag training and practice-based programmes with a range of partners, including local authorities and sector agencies working in social work, foster and kinship care, youth work and education. New Kitbag Practice Packages were developed and delivered, including longer-term programmes supporting practitioners to embed Kitbag in their work. These developments built on earlier foundations in Fife and contributed to growing interest in Kitbag as a tool for supporting wellbeing, learning and professional practice in complex contexts. Work also continued developing Kitbag materials, adaptations and partnerships to support future scaling.
Alongside all of these activities, significant effort was invested in IFF’s ongoing ‘thoughtful transition’ and renewal following the appointment of a new IFF Director, Rebecca Ford, who succeeded IFF’s Founding Director, Graham Leicester, in January 2024.
The results for the year are set out on pages 7-8 of the Accounts. The period presented challenges for the charity, shaped by continued organisational transition, acute uncertainty in the external landscape, and difficult economic conditions for IFF’s existing and potential funders and partners.
The Trustees note that, despite the challenging operating environment, careful financial management and proactive income generation enabled IFF to maintain operations and sustain key areas of work whilst also investing in strategic development aimed at building greater stability longer term. This is testament to IFF’s core operating model - a small operation with extensive reach, configuring the abundance present in its international community and relationships. The Trustees are grateful for the commitment and flexibility shown by IFF staff, community members and supporters throughout the year, and acknowledge the sustained effort required to maintain delivery while managing these pressures.
Principal Funding Sources
IFF’s income during the year was derived from a combination of fees for providing strategic support to organisations and multi-stakeholder collaborations, training and facilitation work, individual donations and product sales. Key sources included delivery contracts relating to the To Zero initiative; Three Horizons workshops and facilitator training; Kitbag sales and practice programmes with local authorities and other sector partners; and commissioned work with NHS bodies and civil society organisations.
Individual donations continued to play an important role in supporting core activity, alongside sales of IFF books and related materials. Several strategic relationships progressed during the year, laying important foundations for future partnership and philanthropic support. The Trustees are deeply grateful to IFF’s donors, partners, and wider community for their continued generosity, trust, and encouragement, which have been vital in sustaining the charity’s work this year.
Reserves and Going Concern Policy
It is the policy of the Trustees to ensure that the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be three months running costs, which equates to £40,000 in general funds. The Trustees are confident that, with further revenue funding anticipated in the next financial year (2025/26), there will be sufficient funds to finance the company’s ongoing activities.
Investment Policy
The charity maintains its working capital in a bank current account.
Risk Management
The Board actively reviews the major risks which the charity faces on a regular basis and believes that maintaining reserves, combined with regular reviews of controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Board has also reviewed other operational and business risks faced by the charity and confirms that systems are in place to mitigate significant risks.
Plans for Future Periods
Future planning for IFF continues to hold both a long-term horizon - the direction of travel for the next decade and beyond - and the more immediate task of reading and responding to the evolving and unpredictable landscape in which we are operating. We live in times of profound complexity and uncertainty, with the impacts of a sustained ‘polycrisis’ - multiple overlapping social, economic, and ecological challenges - evident in our organisations, communities, and personal lives.
IFF’s longstanding interest in understanding, revealing and nurturing the individual and collective human capacities required to thrive in this environment will continue as a key theme in the years ahead, particularly as it relates to persons with organisational and/or institutional roles - ‘professionals in a polycrisis’.
As IFF moves further into a new chapter following the appointment of a new Director in January 2024, the Trustees and team continue to reflect on how the organisation can build on its legacy and evolve in ways that can enable an even more powerful collective contribution. This includes deepening what is already distinctive and effective in IFF’s work, while also adapting to changing conditions and opportunities.
IFF remains confident in its approach to capacity development and supporting the shift of complex systems towards new patterns of viability fit for the future. The charity remains committed to addressing complex, messy, and seemingly intractable challenges by taking a longer view and a wider view; embracing uncertainty rather than seeking false certainty; and working with human systems that are intrinsically capable of learning and transformation. IFF’s work focuses on revealing and releasing this human potential - creating the conditions through which people and organisations can respond to the challenges of our times with practical hope, agency and creativity.
In the context of the rolling polycrisis, many individuals and organisations share a growing sense that there must be better ways of working and responding. IFF seeks to rise to this moment by continuing to make its contribution where it can add the most value, and by cultivating greater depth, coherence, and impact in its work.
During 2025/26, IFF plans to focus on:
evolving and strengthening established initiatives such as Kitbag, the IFF Community, and the Health & Care community within it;
growing the Future Stewards initiative;
developing and testing new propositions that build on existing practice and respond to emerging needs;
refining and clarifying IFF’s value proposition and communications;
and seeking new funding, partnerships, and collaborations to support a more stable and sustainable operating model.
Through this work, IFF aims to continue acting as a pocket of the flourishing future it seeks to grow - supporting people and organisations to meet complexity with realism, resilience, and hope, and to take meaningful and effective action even when the path ahead is uncertain.
The company was incorporated on 20th August 2007, is limited by guarantee and is a recognised Scottish Charity (number SC038749). The company has gained exemption from using the word “limited” in its name. The liability of each member in the event of winding up is £1. The charity is governed by its memorandum of association.
Reference and Administrative Information
Charity registration number SC038749
Company registration number SC329625
Registered Office
The Boathouse, Silversands, Hawkcraig Road,
Aberdour, KY3 0TZ.
Our advisors
Independent Examiner
Fiona E Haro, B Com (Hons), CA
Thomson Cooper Accountants
3 Castle Court, Carnegie Campus, Dunfermline,
Fife KY11 8PB
Bankers
Royal Bank of Scotland, 113-115 South Street,
St Andrews, Fife, KY16 9QB
Directors and Trustees
The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows:
Key management personnel International Futures Forum: Trustees’ and Directors
Brendan Dick (resigned 14 May 2024)
Caroline Gardner
Alice Haugh
Isabel Nuesse (resigned 12 April 2024)
Thomas Rippin (chair)
Philippe Vandenbroeck (resigned 21 June 2024, re-appointed 17 December 2024)
Amy Zalman
Appointment of Trustees
Directors with appropriate experience are sought for a Trustee position.
Trustee induction and training
New Directors receive instructions and information on their responsibilities as Directors and of the work of the charity. The induction and training of the Directors is carried out during their term of service.
Related parties
None of the Directors has any beneficial interest in the company.
The trustees, who are also the directors of International Futures Forum for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 7 to 18.
The charity’s trustees, who are also the directors of International Futures Forum for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.
In connection with my examination, no matter has come to my attention:
to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Investments
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
International Futures Forum is a private company limited by guarantee incorporated in Scotland. The registered office is The Boathouse, Hawkcraig Road, Aberdour, Fife, KY3 0TZ.
The financial statements have been prepared in accordance with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The Directors consider it appropriate to prepare the financial statements on a going concern basis as they have a reasonable expectation that the charity has adequate resources to continue in operational existence for the next 12 months from the date of approval of the financial statements. The directors recognise that there remains inherent uncertainty in the current operating environment, but they have considered a number of scenarios for funding and expenditure and have concluded that the going concern basis remains appropriate.
Unrestricted funds are funds that can be used in accordance with the objectives of the charitable company at the discretion of the directors.
Designated funds are unrestricted funds set aside by the directors for specific future purposes or projects.
Restricted funds are funds that can only be used for particular restricted purposes within the objectives of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. The following policies are applied to particular categories of income:
Voluntary income is received by way of grants and donations and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Income is deferred when performance related grants are received in advance of the performances or event to which they relate.
Incoming resources from charitable activities is accounted for when earned.
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Trustees is not recognised. Refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, and governance costs which support the charity. The basis of allocation for all support costs is on a direct basis.
Expenditure is recognised on an accrual basis as a liability is incurred. The company is not registered for VAT and accordingly irrecoverable VAT is charged against the category of resources expended to which it relates.
Costs of generating funds are those costs incurred in attracting voluntary income and the costs incurred in trading activities that raise funds.
Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services to its beneficiaries. It includes both the direct costs and indirect costs necessary to support these activities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charitable company and include the audit fees and costs linked to its strategic management.
Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis e.g. estimated usage, staff costs by time spent.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Legal Status of the Charity
The organisation is a charitable company limited by guarantee and has no share capital. In the event of the company being wound up each member is obliged to contribute an amount not exceeding £1.
Grants receivable
Fees/Royalties
Kitbag income
Training income
Investments
Education of all people
Education of all people
Associate costs
Meeting and seminar costs
Kitbag costs
Rental costs
Travel and subsistence
Training costs
Printing, postage & stationery
Sundries
Software costs
Bank charges
Administration costs
Telephone
Insurance
Audit & accountancy fees
The charity initially identifies the costs of its governance function. Having identified its governance costs, the remaining costs are allocated to support costs. Refer to the table above for the analysis of support and governance costs.
The average monthly number of employees during the year was:
The key management personnel comprise of all directors and employees of the company. The total employee benefits of the key management personnel of the charity were £92,153 (2024 - £76,533).
No members of the board of directors received remuneration during the year (2024 - £nil).
The company is a registered charity and consequently no provision is considered necessary for taxation.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
J&J Foundation Grant - Funding to assist with transitioning to a future of health for all.
RunForever - Funding to assist with transitioning to a future of health for all.
Fife Council - Funding to assist with employee salaries.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2024 - none).