Company re8lStration Thumber., 02680268 Charity registration number, JQ)7484 Christina Noble Childrens Foundation Limited (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 Dernber 2022
Christina Noble Childrens Foundation Limited Contenls Referen and Administrative Details.......-...................................................................................... Trustees. Report...................... . Statement of Trustees, Responsibilities................................ ....-.-......................... ......................... 13 Independent Examiner's Report....................................................... . 14-15 Statement of Financial Activities.. .. .. .2-12 .16 Balan Sheet...................................................................................................................................... 17 Statementof Cash Flows.......................................... .18 Notes to the Financial Statements...... . .. . 19-29
Christina Noble Childrens Foundation LimAted Reference and Administrative Details Directors and Trustees: T Ward {Chairl K Creer B 08more S Bannerton K Poc(Kk Company Secretaw. S Bannerton Registered Offlce.. 38 Deodar Road London England SW15 2NN Company Registration Number. 02680268 Charity Resistsa¢ion NurnbeT.' 1007484 Independent Examiner. Russell J()seph ACA Buurner BLEllock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE W¢bsite.' www.cncl.or8
Christlna Noble Childrens Foundation Limited Trustees, Report The trustees are pleased tth present their annual dirertors. report together with the financial statements ol the Christina Noble Childrens Foundation Limited (the "Charity" or the "Company") for the year ending 31 December 2022 which are alsu ptppared to meet the ¥equirements for a directors. rewrt and accounts for Cvmpanies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the MemL)randum and Articles of Association, Accounting bnd Reporting by Charities: Statement ol Recommended Practice applicable to the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leFfe¢tive I january 2019}- (Charities SORP IFRS10211, and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. Director and Trnstees The directors of The Company, who are its trustees lor the purpose of charity law, present the annual report of the charitable company lor the year ended 31 Dernber 2022 The trustees and officers serving during the year and SLtbsequent to year-end were as follows.. T Ward (Chair) K Greer B O&more S Bannerton K Pucoek Company Se<retsry.' Shane Bannerton Registered Otfice 38 Deodar Rd London SW152NN Stw¢lure, 8ovemance and m4n4gement ofgozjtniingdoctsm¢#t The orsani5ation is a charitable company limited by guarantee, intorpordted on 17 January IW2 and registered as a charity on 3 March I9. The Company was established under a Memorc)ndum OF Association which established the objects and powers ol the ch¢lrstable company and is governed under its Articles ol Associali{ whieh details the Charity s organI¢]0nal 5truclure. Recrnithttent a#d appoiKtmeAt of trnstees Under the Articles OF Associatiorl membership shall be open to anyone the 1'rustees, by a majority vute, agree will further the aims DI the Charity.
The ChTA8tina Noble Childrens Foundation Limited Tru$tee5' Report liiduction Axd trAi#iMg of trMStÉes All of the Trustees are familiar with charit<ible organisations in general. They are familiar with the activities of the Charity and of its linanci&l statements. MAjor risks Aiid mANAgeJneiit of those risks In wmmon with other charities of our size. we are limited in the resources we are able to apply in segregating the duties ol operatlves and fundraisers alike. Being aware of this we use our available reSoUrS in the manner we deem most effective which the trustees keep under constant review. We have considered the tnajor risks to which the Charity is exposed and are satjsfied that systems are in place, and Trew systems will put in Pla as and when necessary. to mitigate exposure to rnajor risks. The present global landscape for small to medium NGOS and Non-Prolits, such as the Christina Noble Children's Fotjndation I'CNTCF"), is undergoing a radical transformation. The sustained economic volatility and the intense competition in the funding market have drastically affected the sector across the globe including CNCF. The challenges fur N,$ such as CNcf, initially brought about by the 2020nl pandemic. then the subsequent global economic downturn are unprecedented in our oxperience. In 2022, the global crisis deepened further luelled by the war in Ukraine, rising inflation and 81()bal economic downturns. 2022 was a tumultuous year and this trend is persisting in 2023. The rapidly Chann8 environment has fundamen*ally reframed the extemal rtsks that boards must proactively monitor and be ready to address, Non-prolit orsanisations across the globe are facing several significant economic challen8es. Some of the major issues tntlude.. Decreased Funding.. The on8oin8 global economic instability, worsened by events like the pandemic, has led to decreased funding for NGOS. Traditional sources ol funding, such as grants and donalions from individuals or corporations, have dwindled. 2. Increased Demand for Setvi<es.. The same economic conditions leading to reduced fundins are a150 increasing the need lor NGO services. With rising unemployment and poverty levels more people are turning to NGOS for support, stretching their already limited resources. 3. Competitive Funding Landseape.. With more NGOS operating than ever before, there's increased competition for the same pot of lundin8. This competition has made it harder for individual orgaiiisations tv secure necessary funds. 4. Operational Costs.. Operational costs conlinue to rise, which further strains limited budgets. Thi5 includes costs related to maintaining or adjusting servi provision during crises. increasing use ol technology. and retaining skilled stal(. 5. Lack of Diversified Fundin8 Sources.. Many NGOS rely heavily on key souw of funding. If these funds decrease or disappear, it can leave the organisation in a vulnerable position. 6. CurEency Flucluation.. NGOS operating internationally such as CNCF receive funds in different currencies. Fluttuation5 in exchange rates can affect the actual value of these funds. making budget planning more challenging.
The Christina Noble Childrens Foundation Limited Trustees. Report 7. Resulatory Chanse$-. NCOS are now operating in a tomplex regulatory environment which can change rapidly. Compliantr with these regulations qUireS financial resources, adding another straiii to budgets. 8. Global E¢ottomic Conditi0ft8.. Larger economic factors. such as recessions, trade wars, or geopolitical issues impact fundins availability and the cost of providing services. These economic challenges demand that NCOS be innovatlve In their approaches to resource m(i)ilization, cost managemen¢ and service delivery. It's a difficult balancing act to continue providin8 nettssary services while also navigating thesè extreme economic hurdles. Lwking ahead, we know the challenges are sisnifEcant, but, we are wholly dedicated to continuin8 our mission and adapting to the changin8 landscape. We are committed to findins innovative solutions tr) ensure the stability and lonsevity of our or8anisation. SolutÉons ar¢ constantly being SOLtght by our CEO and the CNCF Inkrnational Bt>ard Directors to a5SlSt with adaptation and building resilience for the future of CNCF and the invaluable contribution it makes in supportin8 our project countries who provide humanitarian services to some ol t)ur world's mast vulnerable eliildren at very high risk of exploitation and abuse in Asia. ORGANISATION INFORMATION MISSION STATEMENT: The Christina Noble Children's Foundation is dedicated to serving the physical, medical. educational and emotional needs of vulnerable children. We believe that every child doserves lave, Pect and freedom from all forms of exploitation. We establish long-tern) relationships with the children we support and empower them to live happy, emotionally rich, and independent lives. GEOGRAPHICAL AREA SEiiVED In Vietnam CNCF curttrttly works in 12 districts of Ho Chi Minh City and rtine surroundins Provin in South Vietnam. and in the c()untry's Central Provinces due to the persistent and profound need lor its Servi in the country. In Mongolia we work in the nine districts of Ulaanbastar Capital City, Erdenet City, Darkhan City, and four Surrounding provin. As part ol CNCF'S 5-year strategic plan, and in alignment with the Vietnamese and Mongolian Government'b National Target Pr4)gramme. CNCF aims tv utilise its unique 34 years of grassr¢)ots humanitarian experience and expand its reach to supporting MO migrant. ethnic minority. nomadit communitles and general rural communities where poverty is Still prevalent, including those wkth disabilities. Mos¢ il not all, ol these communities are l)eld back Iroin devel()pment by factors Including geograph¥cal isolatiow limited healthcare, tnarket a$$, sothal exclusion, low rates of out- migration and a{5$ to education.
The Christina Noble Childrens Foundation Limited Trustees, Report Ethnic minorities consist 0116.9% of Vietnam's population but account for 95% of the extreme poor, living with I$ than $1.9 USD per person per day. Mongolicl has nomadic herding communities living in remote areas, These communities lace daily challenges related to limited aCsS to education, healthcare, and infrastructure due to their mobile lifestyle and geographic isolatLOn, liviftg with less than $1.8 USD per person per day. They all faced multiple poverty related challenges even before the new complextties brought on by the pandemic. Supportins these tar8et communities directly aligns with CNCF'S mission to protect and emp(Trwer the country's m05t vulnerable children and communities, ensuring we are working to actrlieve Kial inclusion and equality for all. ORGANKSATIONAL BACKGROUND & STRATEGIES & OBJEcfIvES CNCF mitigates poverty and haidship by offerins essential, grassroots humanitarian servites to communities in Vietnam and Mongolia. These societies have been profoundly impacted by extensive periods of poverty and the enduring effects of war. In the past 34 years, CNCF'S humanitarian endeavour5 have positively irnpacted the lives ()f over one million children. We continue to partner with some of the world'5 most disadvantag communities Su5Pt1b]e to all forms of exploitatiorn includiJ)g young individuals with disabilities residing in remote areas. Now a third generatioji family foundation. CNCF is currently supported and led by Vietnamese and Mon8g1ian community leaders, some of whom were benefiriaries of the Foundation durin8 their Dwn difflcult childho(Kls. Christina and her Foundation's c()rktinuous efforts to raise awareness about the plight of children in need, remain key in spurring social change and reform in Vietnam and Mongolia, and have concurrently infltJen¢ed shifts in government attitudes. To maintain its relevance bn our rapidly evolving world. CNCF is commktted to adaptin8 and progressing. As part ol our Eive-year strategic plan, we aim to leverage the Foundation's 3-plus decades of gra55Toots impact to propel our future endeavours. We acknowledge the fast-pad transformations around us and understand the need to embrace change and innovation to continue making a sustoinable differen. By proaclively adaptins to emersin8 trends, fundin8 mode15, arld technolosies, CNCF is poised to remain a leader in the eharity seclor. Therefore. addressing new ehallenges for the cotnmunities we serve and drivin8 a positive imP<)Ct in the forthcomin8 ye<lts. iwking forward, CNCF has set forth several stratesic objectives. These include a o)ntinued commitmenl t¢) develop innovative projects and seryices tailored to the unique needs of each child; ensuring their development and Success. Our aim is to provide advanced access to disjtal and technical skills programmes, soft skills trasnin& Workfor readiness initiatives, and entrepreneurial opportunities. CNCF is also prioritising collaboration, forging strategic partnerships with like-minded or8anisalions and NGOS. Through these allian$, we oim to broaden our hL*manitarian outreach and respond effectively to arising crises. CNCF is committed to enhancing its reputation as a global advocate for Childn,5 rishts. dedicatins efforts to raise the Foundalion's international profile, and actively championiTrg Children's rights on the global stage.
The Christina Noble Childrens Foundation LAmAted TTrtee$' Report GOALS Building on the deep-ruoted and unique history uf the Christina Noble Children's Foundation, our focus now moves to the future. Guided by the spirit ol our pasL we have set several strategic goals to further (xjr mission ol upliftin8 and empowering children in the communities we serve. Goal l Empowering Children: Our commitment to children remains unwaverin8. Our piimary objective is to pruvide care that is tailored to the individual circumstances ol each child within the context of their broader communities. SÉmultsneously, we will enhan our existing proFcts' quality and intrthlU an expansive digital and tecl)nical skills progrnmme, providing the children with the tools nètessary lor thriving in a rapidly evolving world. Goal 2 - Advocate for Child Rights InteTnationally: Rooted in OLtr international advocaLy, we align our actions with the United Nations Sustainable Development Goals ISDGs} and the United Nations Convention on the Ri8hts of the Child {UNCRCI. We will continue to be an influential voice in policy development. focusing on poverty eradication, gender equality. and children's rights. Goal 3- Expand and Respond throu8h Partnerships: Leveraging the power of collaboration, we seek to magnify ()ur impact by engaging Wlth humanitarian researchers and building alliances witli local NGOS, government agencies. and similar organisation5. This tollective approach will allow us to respond more elfeclively to crises and expand our reach. Goal 4 - Secure Sustainable Fundin& Recognising the crucial role of financial soUrCes, our next goal 15 to attain sustainable funding that will ulttmately lead to financial sèlf-sufficiency. Our stratesic fc¢us encompasses translormihg programme models intts social enterprises, seeking phrlanthropic suppor¢ uring multi-year project fundin& and building capital reserves for long-term stability. Coal S - Develop CNCF Brand Idèntity: In an ever more interconnected world, our goal is to establish a distinet. globally recognised CNCF brand thclt aligns with uur new impact rnudel on its completion. This includes developing an elevated and unique brand identity, formulating a ¢omprehensiv@ communication gtrategyi and maintaining consistent brand reprÉsÈntation across all platlornis. Goal 6 - Foster Impactful Organis3titsnal Culture: Our aim is to continue fostering a culture that inspires individuals tL) contribute thelr very best, This involves cuntinuing to cultivate a prulessional, accountable culttsre, investing in continuous team trainin& and developing robust project management expertise within our ranks. This preserved culture will enable us to continue bolstering our collective efforts and transforming lives. CURRENT PROGRAMMES At the Christina Noble Children's Foundation. we pride ourselves on the well-rounded programmes we deliver to aid children and communitie5 in need. Our dedication and commitment lie in offering comprehensive and meaningful supporl ti) marginalized children and their families in Vietnam and Mongulia. Our progi'arnmes span a vast spectrum. focusing ()n cliild protection and sale8uardin& health. education, residential care. tornrnunity develupment, emergency assistance and personal development as follows..
The Christina Noble Childrens Foundation Limited Trustees. Report Vietnam Prosrammes.. Sunshine Social & Medlcal Cenlre ISSMCI: Delivering high-quality social and medical care and preschool to orphaned, abandoned, and disadvantaged children. Sunshine Home&, A safe and nurturing home for orphaned, abandoned, disadvantaged children. Tay Ninh Residential CenlTe for Visually Impaired Children: Providins residential facilities, specialised resources. and educatson SUPFK>rt to vhsually impaired and disabled children on the Vietnamlcambodian border. Christlna Noble Fulbright Scholarship.. A partnership programme with globally renowt)ed. Fulbright Unlverslty- This programme supports underprivileged Vietnamese students with stipend support and helps to brtdge the skills gap in the country. Noble F¢llowship Programme: A fellowship connecting tertiary students Wlth prolegsionals to build key skills and enhance employability prospects. Hollstic Child Development Programme: A holistic self.development programme incorporating arts, sports, music and mindfulness activities to assist vulnerable children in cultivating confidence and essenlial life skills. Famlly Emergency Assi$t¥nc¢ Pro8ramJne: A support System providin8 immediate assLStartce to families in crisis. MedAtal Assxstante Programmw. Providing crucial financial assistance for surgery and medscal treatments, and post-operative care and follow-up services to financially challenged families living in poverty. Capital Assistance Pro8ramme- A tommunity development programme aimed at creating sustainable futures thrvugh infrastructure development, water sanitation. low- interest loan5, and training. Mon801ia Prosrammes.. Blue Skies Ger Village: A sale and nurturing home lor orphaned, abanlloned and disadvantaged vulnerable children sufferin8 (rom acute trauma, providing psychosocial care, education, and a supportive community. He4lih¢are Prosramme: Providing medical support to communities in dire need. Arts & Music Programme: A Creative platform encouraging chlldren's artistic and musical abilities. Sports Progrdmme. A wellness initiative promoting physical health and teamwork through sports. Blue Skies Kindergarten: An early learning Cent providÈng quality care and education to underprivileged children. Rehabilitation Centre for Youth Education PTosr¥rnme (formerly known a5 The Boys, Prison).. A prosramme designed to reintegrate rehabilitated youth who have commltted crime$ into society through comprehensive education and training. Give-Aer Programme: A hou5ins initiative supporting families struggling with extreme poverty. BayART4i Pilol Prosramme: A ground breaking tnental health initiative deploying innovative approaches for chilLtren s srowth and well-being.
The Christina Noble Children$ Foundation Limited Trnstees, Report Sub Pilot Programme: Sexual Health and Reprodu¢tivt Eduralion for Adolescents: An educational initiative focusing on providing vitsl sexual and reproductive health knowledge for adoleSntS. Future Psycholosi5t Fellowship: A fellowship prosramrne cultivatins aspiring psychologists through mentoring and resource provision. Programmes Which Operate in Both Vietnam and Mongolia: Child Sponsorship Programme ICSPI: A support programme providins financtal and social aid to impoverithed children and families, enabling them to PLtisue education and development opportunities. Medical Exthange Prosramme IMEPI.. An exchange prosramme lfttroducing world- class sur8ical medical expertise to Vietnam atld Mc>ngolia to enhaTh healthcare quality. Christina Noble Scholarship Programme.. An educational fund that supw)rts the fees of meritoriaus Students from disadvantaged backgrounds and provides self- development services. These tsbjectives are achieved through lundraising lrtitiatives and a Child Sponsorship scheme adminastered in the UK and our aslated intemalional lundraisins offices in Hong Kon& Australia, Fran, Ireland, New Zealand (managed by our Australian Offi), USA, and Italy. Total Beneficiary Impadg 2022 23,860.. Children and adults weTe impacted by CNCF'S Educatii)n, Healthcare and Community Development prosramtnes. Education: 2,505 children were suppurled thrtsugh CNCF'S education programmes Health: 1180 children and adults were supported through CNCF's Healthcare programme Community: 19,175 children and adults were supported through CNCF's community development pro8rammes AWARDS & RECOGNITIONS Christina Noble OBE, and the Foundation globally have reiVed well over 200 humanitarian and achievement awards for their wurk on behalf of children's rights.. Among these, Christina was rec(Trgnised by Time magazine aè one (Il the -most Inspiring Herues of our World,, and awarded the prestigious Albert Sthweitzer Humanitarian Award. Christina is als() the recipient ol The Order of Frsendship Medal from both Guvemments of Vietnam and Mongolia for her vutstanding work for and ()n behalf of the people ol those Countries, this being the highest Honour given to foreigners. CNCF Chief ExUtIVe Officer. Helenita Chii5lina Noble. was awarded the Member of the Most Excellent Order of the British Empire {MBEI in Her Majesty's Honours libt 222 for her servhces to charity in Vietnam and Mongolia. The MBE recognises outstanding achievements or servÉces to the community which have hbd a long-terrn, significant, and positive impact.
The Christina Noble Childrens Foundation Limited Trustees, Report 2022 Awards and Acknowledgments- Mongolia and Vietnam CNCF'S Blue Skies Ger Village awarded as one of the recipients of Best Organisation ol The Year 2022 from ihe City N(ayor of Ulaanbaatar, Mongolia CNCF awarded 3rd place lor Enviry)nmental Award Best Enterprise and Organisation 'Our Khoro(TrMy Street-2022 Campaign" of the City Governor s Office Certificdte of MeriL' awarded from t.he People's Committee ol Don8 Nai Province to Christina Noble Children'5 Foundation fur excellent achievements in childcare, education and protection Certificate of Merit from the People's Committee of Don8 Nai Province to Ms Tran Thi Ngoc Thuy Ilormer CNCF Vietnam Country Director) for the e%lIent achievements in child care, education and protection Recognition Award from Uni()n Friendship of Dong Nai Province to Christina Noble Children's Foundation for the p05jtive contributions in inteYnatLonal non-gov¢mmental activities in Dong Nai Provin 2022 Team AwaTd&' Altantuul Erdenebile& CNCF Care siver, For Kids Medal from Family, Child and Youth Development Agency Altanzul Tsedevsuren, CNCF Programme offir, Honorary award from Ministry of social and Welfare Amarjar8al Bor, CNCF Director ol operatt0, Honorary award (rom Ministry of knral and Wellare Battulga Na.nkuu. CNCF Sports Coach. Honorary worker aw8rd from Ministry ol Sports Bayanzul Nambuu. Honorary wcbrker award from CNCF Ministry of Social and Welfare Bayaraa Munguntsetses, CNCF Driver. award from Ministry of road and transport Binderiya Batjargal, CNCF HR Manager, Honorary award from Ministry of Social and Welfare Bolorthuluun Gantumur. CNCF Psychologist, Honorary award from the Ministry of Education and Scien Dashtsercv Nojin, CNCF Care gtver. Rising star awarded from Family, Child and Youth Development Agency Davaasuren Tserennorov, CNCF Kindergarten Teather, Honoriiry worker award Irom the Ministry ol Social and Welfare Dulguun ErdÈnezorisL Psytholosist, Rising star from Family awarded by Child and Youth Development Agency Enkhbayar Dondov, CNCF Guard, Honorary aw<ird from Ministry of Social and Welfare
The Christina Noble Childrens Foundation Limated Trustees, Report Enkhsaikhan Batsuuri, CNCF Programme Officer. Honorary award from Ministry of SLYial nd Welfare Gonchig Lkhagva, CNCF Music Instructor, Honorary worker from Ministry of Culture Munkh-Erdene Tserendulam, CNCF Guard, Honorary oward, Ministry of Social and Welfare Munkhsukh Davaasuren. CNCF Pmgramme Officer, Risins star awarded from Family, Child and Youth Development Agency Munkhtsetse8 BolLi CNCF Translator, Honorary award from Ministry of Social and Welfare Munkhtuya Bayarkhuu. CNCF Chef, Honorary award by Ministry of Social and Welfarè MyagmoTsuren Urgan, CNCF Driver, Honorary medal from Chairman of the civil meeting of Songinokhairkhaft district Ner8ui Purevsuren. CNCF Child Protection Speeialist, Honarary award from Ministry of Social and Welfare Oyunserel Altangerel. Honorary worker from Depariment of Employment Training and Labour Tseyendolgor Batbayar, CNCF Social worker, Honorary award from Ministry of Social and Wellare Tserendol8OTBatbayaT. CNCF sla1 worker, Honorary medal from Chairman ol the civil meetln8 01 Songinokhairkhan district General We are very 8rateful lor the on8oing support of the projects by our major sponsors. We thank the Chillag Charitable Foundation, the Banham Charitable Foundation, Nelumbo Stiftung Foundation, St James pla Foundation, Hardmead Trust, Pho Cafe and the Byrne Family for their nutable support. PublKc benefit The trustee5 confirm thal they have tomplied with the requirements of sectlon 4 01 the Charities Act 2011 to have due regard to the public betiefit guidance published by the Charity Commission for Engl¢ind and Wales. Use of volunteevJ From time to time the UK offitr benefits from the kind contributi()n of volunteer5 for assisting with fundraising events. 10
The Christina Noble Childrens Foundation Limited Trustees, Report Achievements and performance The Child Sponsorship Programme continue5 to successful in many areas, including seeing many of our children in both Vietnam and Mongolia going on to colle8e and university educotion, enabling them to gain employment and escape the tycle of poverty. In 2022 the UK Child Sponsorship Programme supported over 300 children In Vietnam and Mongolia. In the opinion of the Trustees the obiectives of the Charity have been achieved this year and thè Charity will continue to fulfil the aforementioned objective in the next financial period. Poll¢y on resee$ It is the policy of the Charity to hold reserves its General Fund that have not yet been committed or designated for any particular purpose. The Twstees have set aside these reserves in order to protect the Eutuie operations of the charitable company (rom the effects of any unforeseen variations in its income streams as part of a wlicy of 8ood financial manasement practice. The Trustees have undertaket) an assessment ol the Charity's needs and have set a tet tsl £IOO,O(K) for the General Fund5. At 31 December 2022 the amount ol the reserves in the General Fund amounted to £98,707, which is deemed sufficient to cover any ¢ontingent liability arisins as identified in note 15 to the financial statements. Investment polity and objedives The Memorandum ol Association, signed on 17 lanuary 19>2, state5 that the Company shall -invest the monies of the company not immediately required for its main object in such mannor as maybe thought lit but SO that monie5 Subject or representing property subject to the juri9Jiclion al the Charity Commission shall only be invested in such investments and with such sanctÉ(m lif artyl as may for the lime bein8 as prescribed by law" Alms and key oblectlves for future peaods CNCF intends to continue its core work for which we have an unrivalled reputation having reIVed numerous awards over the years from b()th ihe Vietnam and Mongolia governments. As previously stated, due to disproportionately rising cost5 in knth Vietnam and Mongolia and an increasingly dillicult economjc climate we are restricted Èn the number of new proFcts we feel we can undertake in the immediate future, as one of our main pri¢)rities must be to guarantee continuation ol existing work5. However, as part of our strategic 5 year plan CNcf is sreatly developins and expanding its partnership and collaborations with other NGO'S, esteemed Educational and Medical institutes and Advocacy and Policy Organisations. CNCF has a presence on social media site5, Linkedln, FacebooK Instagram and Twitterand website www.cncf.org.
The Chrisiina Noble Childrens Foundalion Limtted Trustees, Report FinaDcAal risk manogejnent and policies Objertives policies The Charity's activities expose it to a number of financlal risks includin8 credit risk, foreign exchange risk and liquidity risk. The charity does not use derivative financial instruments. Credit risk Credit risk is managed by carrying out regular reconciliations of funds received against those committsd. Forei1 ¢xchAnge risk The Charity's activities expose it to the financial risks of changes in foreign currency exchange rates and interest rates. The use of derivatives to manage foreign exchange risk is not considered appropriote due to the size and nature of the charity's activitie the cost, and the additional risk associated with such PraU(t5. Liq#idity risk In order t¢) maintain liquidity to cnsure thit sufficient lunds are available for ongoing operations and futu developments, the Charity holds its funds in short term deposit accounts. Further details regarding liquidity risk can be found in the accounting policies in the financial statomenls. 12
Christina Noble Childrens Foundation Limited Statement of Trustees, Responsibilities The trustees (who are also directors of Christina Noble Childrens Foundation Limited for the purposes of company lawl are responsible for preparing the Annual Report and the financial ststements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financlal year. Under that law the trustee5 must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting Standard5 and applirable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incomiftg resources and application ol resources, including the income aiid expenditure, of the charitable company lor that riod. In preparing these financial statements, the trustees are Yequired to: select suitable accountin8 policies and then apply them consisteDtIy,' observe the methods and principles in the Charities SORP,. make judgments and attounting estiJn&tes tliat are reasonable and prudent,. stste whether applicable UK Accountiz)g Standards hav@ been followed, subject to any material departure5 dilosed and explained in the financial statements. and prepare the finaftcial statements on the going concern basis tjnless it is Inappropriate to presume that the tharitable company WEII continue to operate. The trustees are responsible for keepins adequate accounting records that are suffLCLent to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding ihe as5et5 01 the company and hence lor taking reasonable steps For the prevention and detection ol fraud and other irregularities. The financial statements on pages 16 to 29 01 the rewirt have been prepared in accordance with the provisi()ns applicable ro c()mpanies subject to the small companieg re8ime. Approved by the Board and signed on its behalf by". S Bannerton Trustee Date.. 26 September 2023 13
ChrA$tina Noble Childrens Foundation Limited Independent Examiner's Report to the trustees of The Christina Noble Childrens Foundation Limited I report to the trustees (who are also Directors for the purpose of cmpanY lawl on rny examination of the financial staternents of Christina Noble Childrens foundation Limited {'the charitable c(Trmpany') for the year endÈd 31 Dember 2022 which comprise the Statement of Financial Activities, the Balan Sheet and related notes. This report is made solely tts the charity'5 trusteE5, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken 50 that I misht state to the ctrtarity's trustees those rnatter5 1 am required to state to them in this report and lor no other purpose. To the fullest extent permitted by law. I do not arpt or assume responsibiljty lo anyone other than the charity and the harity's trustees as a bodyi for my work, for this report, or for the opinions I have lomied. Re5pon$ibllitie$ and b¥si$ of report A5 the trustees of charitable company you are Jrsponsible for the preparation of the financ5al statemet)ts in ftccordan with the requirements of the C()mpanies Act 20061'the 2(K)6 Act'l. H3vins satisfied myself that the linanci&l statements of the charitablo eompany are not required to be audited under Part 16 of the Act and are eligible for independent examination. I report in respect of my examination of the d)aritable company's financLO1 statements carried OLtt under section 145 of the Cl)arities Act 2011 1.the 2011 Act'l and in carrying out my examination I have foll(Fwed all the applicable Directions given by the Charity Commissaon under *ction 14515llbl of the 2011 Act. An independent examination docs not Involve gathering all the eviden that would be required in n audit and consequently does not cover all the matters that an auditor considers in 8jVtng their opinion on the financial statements. The planning and conduct ol an audit 8($ teyond the limited assuranee that an independent examination can provide. Consequently, l express no opinion as to whether the financial statoments preseiit a 'true and fail view and my report is limited to khose specific matters set (Nt in the independent examinerfs statement Independent examitter's statemettt Since the charitable company's sross inrome exceeded £250.000 yuur exajnijier Inu51 be a i))ember of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to tsndertake the examination because l am a member of ICAEW, which is one of the It5ted bodies. I have eompleted my examination. I conlirm that no material matters have COTne to my attention In connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the tharitable company as required by wlion 3B6 01 the 21X)6 Act,. or the fiiiancial statemcnts do not accord with thcise COrdS,. or the financial statements do nnl comply with the £counlin8 requiremen15 of section 396 01 the 2006 Act other than any requireTnent that the financial statements give a 'tnJe and fair view which ts not a matter considered as parl of an independent exarnin&tion,' or 14
Christlna Noble Childrens Foundation Limited Independent Examiner's Report to the trnstees of The Christina Noble Childrens Foundation Limited the financial 5latements have not been prepared in accordance with the methods and principles ol the Statement of Recommended Praciice for accounting and reporting by charities applicable to charities preparing their account5 in accordan with the Financial Reporting Stsftdard applicable in the UK and Republic of Ireland IFRS 102). I have no concemg and have come across no other matters in connection with the examination to which attent20n sliould be drawn in this report in order to enable a proper understanding of the financial statements to be Teaehed. Russell Joseph ACA Bourner Bullock Chartered Acc¢)untantS 114 St Martin's Lane Covent Garde London WC2N 4BE Date.. 26.09.2023 15
Chriytina Noble Chtldrens Foundation Limited Statemenl of Financial Activities lor the Year Ended 31 December 2022 (Including Income and Expenditure Account and Statement of Tolal Reeognised Gains and Losses Unrestricted funds Re$tricted ttd$ Total 2022 Total 2021 Note Income and Endowmenls Donations and legacies Other trading Ctivities Investment income 145,075 407.706 551781 699,058 32.210 360 4.148 4,148 45 T()tal Inc(ime 181.L33 407,706 ,589.139 699,463 Expertditure on: Raisins funds Charit<ible activities 153.8631 11348771 1188,7401 143,7781 17.307) 153%63} 16&%,0991 (688,962) {4.882) 1588,0831 1592,4651 1500,2221 1500,222) Total Expenditure Transfers 43,778 Nei movemen* in EuiiL1s 192.5161 {99,8281 106,998 Reconciliation of (und6'. Total funds brought forward TL)tal funds carried t()rward 149,792 161,211 311,( 204,1X)5 16 98,7(P 112,4T3 211,180 All of the Chaiity'5 activities derive from continuing operations. The lunds breakdown foi 2022 is shown in note 16. 16
Christina Noble Childrens Foundation Limited (Company registration number. 02680268) (Charity registration number. l(K17484 Balance Sheet as at 31 December 2022 2022 2021 Note Current assets Debt()rs 12 114,084 231,635 345,719 46222 325..765 Cash at bank Creditors.. Amounts falling due wtthin one year Nel current asset9 14 (134,539) {),684) 2'11,180 311.(M)3 Nd assets 211,180 311,003 Funds of ihe Charity Unrestricted inc()me funds 16 98.707 112.473 211,180 149,192 161.211 Restricted inci)me Fild5 16 Total funds 311,003 The notes at pages 19 to 29 forni part of these financial statements. For the fitlancial year ended 31 December 2022, the charity was entitled to exemption from audit under sectioti 477 of the Companies Act 2(X)6 relating to small companies. The Members h&ve not required the charity to obtaift an audit of its accounts lor the year in question in aceordance with section 476. I'he directors acknowledge their responsibilities for complyin8 Wlth the requirements of the Act with respect to accountins records and the preparntion of aceounls. The financial 9tatements on pages 16 to 29 of the report have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The financtal statements were approved by the trustees, and authorised for issue on 26 September 2023 and signed on their behalf by.. S &innerto Trustee 17
Christina Noble Childrens Foundation Limited Statement of Cash Flows for Ihe year ended 31 December 2022 Note 2022 2021 Net cash provided byl(used inl operating activities 18 194,6891 120,569 Cash flows provided by investing activities Interest received Net cash provided by Invesilng activities 822 45 822 193,8671 45 120,614 Increaselldecreasel in cash Cash and cash equivalents at the beginning of the year 325,365 205,408 Change in tash due to exchang¢ movements 137 {6571 Cash and eash equivalenls al the end 0£ the year 231,635 325,365 18
Christina Noble Childrens Foundation Limited
Notes to the Financial Statements for the Year Ended 31 Dember 2022
l A¢counting polieies
Summary of gisnificant o¢eounting poli¢les and keyaccountins estimates
The principal accounting policies applied in the preparation of these linancial ststements atE set out
iElow. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
The financial statements have been prepared in accordance with Ac¢ounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities Preparing thelr accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
102) {effective l January 20191- (Charities SORP {FRS 10211, the Financial Reportins Standard applicable
in the UK and Republic of Ireland IFRS 1021 and the CompJniefj Act 2006.
The Christina Noble Children's Foundation meets the definition of a public benefit entity under Flis
101 Assets and liabillties are initially recognEsed at historical cost or transaction value unless otherwise
stated in the relevant accounting policy notes.
Goin8 concern
The trustees consider there are no material uncertainties about the Foundation's ability to continye as a
going concern. The review of our linancièl position. reserves levels and futsjre plan5 gives trustees
C
Christina Noble Childrens Foundation Limited Notes to the Financial Statements for the Year Ended 31 December 2022 Expenditure All expenditure is recognised there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that agsregate similar costs to that category. Where costs Vdnnot be direetly attributed to particular headings they have been allocated on a basis consistent with the use ol resour5, with ntral staff costs allocated on the basis of time spent, and depreciation char8es allocated on the portion of the 8sseYs use. Other support tvsts are allocated based on the spread of staff cost& Raisiftg furtds These are costs incurred in attracting voluntary income, the management of Investments and ihose incurred in tradtng activities ihat raige funds. Charitable adivities Charitable ¢xpenditure comprise5 those costs incurred by the Charity sn the delivery of Éts activities and servi5 for its benelici%Jries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. GTant provisions Provisions lor grants are made when the Intentton to make a grant ha5 been communicated to the r[Plent but there is uncertalnty about either the timing of the grant or the amount ol grant payable. Support Costs Support costs include ntral funrtions atpd have b&n allocated to activity cost categories on a baSLS consistent with the use of Tesources, for example, allocating property Costs by floor areas. or per capila, Staff costs by the time spent and other costs by their usage. Governawe costs These include the costs attributable to the Charkty's Complian with constituttonal and statutory requirements including audit, strategic management and Trustee's meeting5 and reimbursed expenses. Taxation The Charity Is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definitioji of a charitable company lor UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capitsl 8ains reTrived within cate8orie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectiun 256 ol the Taxation of Chargeable Gains Act 1991 to ihe extent that such income or gains are applied exclusively to charitable purpose Financial in$lruthettts The Ch<irity only ha5 financial assets and financial liabilities of a kind that qualify a$ basic financial instrument& Basic financ¥al instruments are initially recognised at transaction value and subsequently measured at their settlement value. 20
Christina Noble ChildTrns Foundation Limited Notes to the Financial Slatements for the Year Ended 31 December 2022 Debtoys Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discoLints due. Cash an41 ¢a$h equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. CTediiors Creditors and provtsions are recognised where the charity has a present obligation resuliing from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligaeion can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Foreign ex¢han8e Transactions in foreign currenciès are recorded at the rate of exchange at the date ol the transaclion. Monetary ci$sets and liabilities denominated in foreisn currencie5 at the lIance sheet date are reported at the rates of exchange prevailing at that date. Fund ac¢ountin8 Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtheranre ol thc objtctives of the Charity. Restri¢ted income funds are those donated for use in a particular or for specil>c purpose5, the use ol whAch is restricted to that area or purp(>se. All restricted funds are used for the purposes ol the projects in Mon801ia and Vietnam as set out in the TrLEStee5' Report. 2 Judgement8 and estimates The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities a5 at the balan sheet date and the amounts reported for incomtng SOurceS and expendilure during the year. However, the nature of estimation means that actual outcomes could differ En)m those estimotes. In the trnstees. ()pinion, there are no significant judgements or key estimat50n uncertointies, 3 Charity Status The Charity is a Charity limited by guarantee and conseqLiently does not have shale capital. Each of the trustees is liable to contribute an amount not exceeding £1 t()wards the assets of the Charity in the event of liquidation. 21
Christina Noble Childrens Foundation Limited Notes to the Financial Statements for the Year Ended 31 December 2022 4 Incorne from donations and le8acAt5 Unrestricted funds Restricted funds Total Total 2021 Grants and donations 52,577 10,184 29,763 52,551 14.1.075 407,706 460,283 10,184 29.763 52.551 552,781 617,44.5 33,878 40,928 6.807 699,0.68 Legacies Gtlt aid reclaimed Other irtcome 407.706 5 Investment iThcome UDTe$trieted unds Total 2022 Total 2021 Interest rlVable on bank dep()sit Foreign exchttnge ins 822 3.326 4,148 822 .3,326 4.148 6 Expendlture on ralslng fund$ Unrestricted Funds General Re51rieted Funds Total 2022 Total 2021 Fundraising Wases and salaries 5.631 48,232 53,863 5.631 48,232 53,863 567 3,815 4,382 22
Christina Noble Childrens Foundation Limited Notes to the Financial Statements for the Year Ended 31 December 2022 7 Expenditure on charitable actlvities Relief of poverly in Monsolia Relief of poverly in Vietnam To141 21Y22: Crint funding activities Directly allocated costs Wages and salaries Allocated support costs (see note 7.1} Allocated sovernance costs (see note 7.11 Total 302,683 171539 475,222 IlJ14 34.517 3,312 351,826 84,218 69,034 6,625 635A)99 34.517 3,313 283,273 Relief of poverty in Mongolia Relief of poveTly in Vietnam Total 2021.. Grant lunditig actLVlties Directly allovdted costs Wages and salarie5 Allocated support costs (see riote 7.11 Allocated governance costs {see note 7.11 Total 165524 286,292 451,816 lJffj26 28,758 2,948 208.856 61229 28,758 2,948 379.227 57,516 5,896 588,083 Grants are made to CNCF Mongolia and CNCF Vietnam lor the programmes as laid out in the Trustee5' report on pages 64. 23
Christina Noble Childrens Foundation Limited Notes to the Financial Statement5 for the Year Ended 31 December 2022 7.1 Analysis of goveruance and support COSt8 Support costs Governance costs Total 2022 Rents and rates Wages and salaries IT expenses Bank charges Other office eX[SeS Accountancy and Independent examiner5 lees Totsl 11,305 37,567 2,587 2.485 15.090 11,305 37,567 2,587 15.090 6,625 6,625 69.034 6.625 75,659 Support cos1$ Governance costs Total 2021 Rents and rates Wages and salaries rr expenses Bank charges Other office expenses Accountancy and Independent examiners fees Total 11,088 32,641 11,088 32,641 ,752 8,691 1,752 8.691 5,896 5,896 57,516 5,896 63,412 Net incominyloutgoins resources Net outgoing resources for the year include.. 2022 2021 A£countaLiCy fee5 Independent Examiner's l&b 4,381 2.244 6,625 2,016 5,896 24
Christina Noble Childrens Foundation Limited Notes to the Financial Statements for the Year Ended 31 December 2022 9 Trustees remuneralion and expenses No trnstee5 have received any remuneration from the charity durins current or previous year. No trustees have received any reimbursed expenses or any other benefits from the charity during the current or previous year. JO Staff costs During the year, the average monthly headcount employed by the Charlty was 5 {2021= 4). The a8gregate payroll costs were as follows.. 2022 2021 Staff costs durin8 the year were: Wases and salaries 163,852 109312 Cuntributions to the employee pension schemes for the year totalled £6,165122l- £2,970). No employee received emL)luments of more than £fA),000 during the year, ()r in the previous year. 11 Taxation No tax was charged in the year {2021- £nill. 12 Debtors 2022 Gift Aid re1v&b]e 29,661 44,866 1.456 46,322 Other debtors 114,084 13 Cash and Cash equivalents 2022 2021 Ilalan$ held by tlie trItY th£lt are nut £1VaiabIe for use by tlie charity 5,985 An amount of £nil (2021.. £5,985) 15 held on behalf of The Christina Nob12 Children's Foundation Group and the branch in thjbai representins the funds held to cover global expenses.
Christina Noble Childrens Foundation Limited Notes to the Financial Statements for the Year Ended 31 December 2022 14 Credilors: amounts falling due withitt ont year 2022 2021 Grant commitments Pension, Social security and other taxes OthLJr creditors Accruals 37.202 8,997 82,540 5,800 134ll39 36,421 912 l3,856 9,495 ,684 15 Contln8ent liabilltles Contingent 8rant commitments.. Where o donor ceases to make donations in line with the child spoftsorship programme, the Charity asrees to continue providin8 funding for that child for the months after the doftation5 cease. Monthly payments are U5$36 per child and $0 the maximum contingent liability Is US$108 per Child at any given time. As at the year end, there were 291 children12021.. 3051 enrolled inlo the Child Sponsorship prusramme. 26
Christina Noble Children$ Foundation LimAted Notes to the Financial Statementy for the Year Ended 31 December 2022 16 Funds Balance at l January 2022 Incomins re4ouTce$ Re50ur¢es expended Tran8Eers Balance at 31 December 2022 Unrestticted ndS Uiire5trictedgetterAIfvNAs Unrestricted income lund Restricled fund$ N(ongolia fund Vietnam fund General UK fund Total Restricted income fund Total funds 149,792 1188,7401 (43,7781 98.707 9,126 99,510 52,574 161,211 311,003 260,408 147,298 (302,6831 (172539) 125,OtK)I (500,222 {688,962 34,149 I,O(K> 83,898 27,574 112,473 211,180 407,706 589,139 43,778 BaJance at l Januiry 2021 Incomins resources Resources expended TransfeTS Balance at 31 December 2021 Unrestrlcted funds UKreStricted8eeraIfyd$ Unstricted income fund RestrActed fund5 Mongolia fund Vietnam fund General UK (und Total Restrlcted income fund 89,983 148,685 (87,2621 (1.6141 149.792 33.611 887 79,-524 114,022 154,976 {179,4611 1286,292} I39,4) (505,2031 9.126 99510 52.574 161.211 1.614 12,5(Kl 550,778 1,614 Total funds 204,005 592,465 311,003 The specific purposes for which thé lunds ère to be applied are as follows: The Yestricted fund is held to fund the activities of the projects in Mongolia and Vietnam, as disclosed in the Tyustees, Report. The General UK restricted fund is held to help fund UK support costs and salary costs. The transfers in the year were for the Following purp Amounts totalling £43.778 have been transferred from the unrestricted fund to the Mongoli<l and Vietnam funds to cover the costs of the charity s ongoing activities. A total OF £15,098 was previously donated towards project funding in 2021. Tliis was originally internally allocated to Mongolia,. however this was subsequently spent in Vietnam in 2022, which remains within the strICtl0 imp)sed by the original donation. 27
Christina Noble Childrens Foundation Limited Notes to the Financial Statements for the Year Ended 31 December 2022 17 Analysis of net assets belween funds Unyestricted funds Restricted funds Tolal funds Current assets Current liabilities Totsl net assets 113.504 114,7971 98.707 232,215 1119,7421 111473 .345,719 1134,5391 211,180 18 Re¢on¢iliation of nel incomellexpenditurel to net Cash flow from opeEatsns activities 2022 2021 Net incomellexpenditurel for the year Adjustments fol.: Interest from investments Exchange differen5 Decrease in debtors Increase in creditors Net cash provided by operating activities (99,823) 106,998 18221 (1361 167,7621 73,854 194.689> 145) 657 5,695 7,264 120.569 19 Related party transactions Durin8 the year the Charity made the following relaied party tran5actions'. TEU8tees Aggregiste Llon41tions rKeived Irom the Trustees for cliild spvnsorship prosrammes totalled £1.835 12021-. £1,5241. Al the balance sheet d(Ile the amount due Iri)m the Trustees was £nil12021- £Nill. Aggregate d<)iiations reiVed from the I'rustees for the Gei)eral UK retstricted fund totalled £nil {2021.. £2,500). Aggregclte donation5 recelved (rom the I'rustees towarL1s unrestricted Funds totalled £&3212021.. £nill. During the year, Mrs S Bcinnerton (wife ol Mr 5 Bannerton who Il Trustee} reIved remuneration for adjninistrative servi5 to the cl)arity totKiling £10.4001202'1.. £10,01.
Christina Noble Childrens Foundation Limited Notes lo the Financial Slatements for the Year Ended 31 December 2022 20 Obligatlons under le¥6e& Operatsns leases 2022 21YII The total of future minimum lease payments is as follows.. Not later than one year 8,1 7,700 Total 8,1(lJ 7,7 Amounts rec()gnised os an operilting lease expense during the year total £71.105 Q021.. £11,088). All of the futLire lease minimum Pciyments shown above relclte to the rent payable f()r the head office in the UK. 29