| Administration Details |
Administration Details |
|
|---|---|---|
| Annual | Report | |
| Independent Examiner's |
Report | |
| Charity | Statement ofFinancial Activities | |
| Charity | Balance Sheet | |
| Notes | tothe Accounts |
| Members ofthe Trustee Board | Members ofthe Trustee Board | John Pontin OBE -Chair | |
|---|---|---|---|
| lan Roderick | |||
| Robert Brown(apl+hied | 22nd July 2021) | ||
| Karen Mrwgan OBE(retired 22nd July 2021) | |||
| Chris Home (retired 22nd |
July 2021) | ||
| Ihgistered | Charity number | 1043572 | |
| Registered | Company number | 03010221(company Rmited by guarantee) |
|
| Registered | 0$ce | Unit 7The Stable Courtyard | |
| Leigh Court Busness Centre | |||
| Abbois Leigh | |||
| Bristol BS83RA | |||
| Advisers: | |||
| Solicitors | Bates Wells and Braithwaite | ||
| 2-6 Cannon Street | |||
| London | |||
| EC4M 6YH | |||
| Bankers | HSBC Bank pic | ||
| PO Box120 | |||
| 49Com Street | |||
| Bnsiol | |||
| BS997PP | |||
| Chrislopher R Brown Ud | |||
| Tiddy Lodge | |||
| 8Bellevue Road | |||
| Clevedon, BS21 7NR |
| The Converging World |
|
|---|---|
| Annual Report forthe year ended 31March 2522 | |
| The Board oftrustees present their report and unaudited financial statanienls forthe year ended 31 March 2022. The refeees and adminisbafie Nformabon set out on the prerious page forms part ofthis report The iinanc'al statemerfis comply with cunent satuuuoy requiremerfis, the Memorandisn and Arfides of Association and the Charifias Sbitement ofRecommended Pracfice in accordance wilh the Financial Reporbng Sbrndard 102. |
|
| Abns and objectbres | |
| The~objecgww are to relieve poverty and disbess and to promote sustainabh devidopment forthe benelit |
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| ofthe public by: | |
| The preservafion, conservafion and pnriacfion ofthe envimnment and the prudent use of |
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| natural resources. | |
| The relief ofpoverty and the knprovement ofconditions oflife among socially and |
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| ecrmomrcafiy drsadv8nlag8d crgllllufsbes; and |
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| Hl. Thepromo' ofsustainairie means ofachieing economic growth and regenerafion. |
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| In semng these obiecb' esthe Trustees have regard tothe Charly Commissions general guidance on public benefit and the Trustees have complied wilh their duly in the Charily Act2011.The Trustees ensure that plans |
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| are in line wiN the haarifitbrie objects and aims. | |
| Overall investment and charity expeiufdure on key programme ttuittes |
|
| Toachieve 58 vision, the primary focus of The Converging World isto invest in wind turbines in India wilh a useful life af20years ormore, as this boN enatries itto direcgy achieve oblecfies I and ill as ousned above and by using an ekunent ofthe profils generated ihererom for social projieh, toachieve objecfive II. |
|
| The programme nriated investmenls have aho been used to successfully bufid apresence and business in India, that, as well as having the ability todevehp and acquire enewatbrie energy assets, has aho created jobs and capacily bufit a team that prwides asset management services tothe~energy market. This programme wm return profris from the business back tothe Charily in the form ofan ongoing income abeam that wfil be spent on |
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| caigabe acfivifies in support ofachieving our objech. |
|
| This appmach is in avoidance with the Charity Convnission's guidance, with the investment in wind turbines being |
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| treated asProgianvne Ririated Invesbnents. |
|
| prugrarmne Related (Social) bnrestments The wind farms instafied have generated more than 163million kWh and avoided more than 158,000tonnes ofC02to March 2022(2021:156milieu kWh and 'I51,051 tonnes ofCO2). Forevery green kWh generate in india we avoid amund four Smes as much carbon aswe woirid byneratirg the sarre kWh the UK. Forevery F1spent on enewatbrie enwgy in India, the emri~ impact isgreater and furthers our aims and chaNabh objeds to protect the |
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| envlforvllent and Us8 esouucess prudenfiy. |
|
| Eco-meloralion | |
| The COVID-19 pandemic has had ahuge impact on those woridng in rural India. The charity has conbnued to provide support to our partners who have been able losecure the livelihoods oflocals invdved in the project ensure that gwse indrvidiuds have been able to continue to support their families. |
|
| Thmugh the campaign "Ihe Forest the SizeofAnywhere' (which aims tomake the stotafi 'rm ofNe bupics tangitrie by equabng redoralm tothe size ofspecific area, carbon eniision ortrees per person), The Converging World has raised furlher funds to plant afurther 1,500saplings and support |
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| the maintenance ofthese saplings through iheir first crucial 2years ofIge. Addiiionaly, the charity has also engaged with difierent oopoiabw toeducala their sbrif on the role of~in mee5ng Ne global carbon Nature based sokriions can be one ofthe most impactkri acbvibes foraddressing poverty and dimate change. Reforestation ahe restees and |
goals. enriches |
| biodiversky, water management and has many other local and global beness. |
|
| The charily confinuis to provide ils carbon cacriaauor asaresource tocorporales and individuals afiosring individisds tocakulate their travel carbon forriprint and babince these emissios Nrough either Ne~ofcarbon credfis orthrough forest hablbit sstwafio . |
| Annual Report forthe year ended 31March 2022 (continued) |
|---|
| GDPR |
| The charity aintains asafeguarding agreement for staff, vrNuideers, contradors, bustees and pariners. Itregeds |
| the ctsnglss vafues ard what gre onfniiadfcn deems as rnrarxxqNalde cnnductio ersnee grat ag ksgvkfuafs behave Ma nnnewr ttsdhonors gre~~,bansfsnerrcy, unct&me„innnnigon, cogabordfon and Inspect |
| Stahunent ofTrustees' Responsibilities |
| The buslees (who are aho directors of The Converging World forthe purposes ofCompany Iaw) aie responsible forpapering gre Trustees' Report and Ihe gnancbd statenrerNs fottosdng apfi'cable bnv and United Kingdom Aocornding~(TbeUnbed Igngdcm~Auepl& Acrxnarling PracSce). |
| Comparry krw requires the trustees toprepare gnancial statenrerds fereacli gnanckd year which gwea Ireeand |
| fair view ofthe state ofthe affairs ofthe charitatde company and ofthe incoming resources and application of |
| esources, induding the income and expenditure, ofthe charitable company forthat period. In papering these |
| inancial statenients Ihe tnstees are required to: |
| -srdectsutatde acrxnndtng pogcies and then apply them oorrsishnigy„. -obsene gre~and~inlre Charittes SORP; |
| —make judgenrerds and stknates that are reasonatNe and prudent; |
| -state whether applicatNe UK Accounting Standards have been followed, subject to any material |
| departures disdosed and explained in the financial statemenls; and |
| -prepare the accounts on the going concern basis urdess kis inappropriate Iopresume that the |
| cfsngsbh company wig cordbne Mbusiness |
| The Irustees ae resfnrrwibfe forkeepng~axountirsf reconfsgndrgsctose ah~de ~a\ any bme Ihe lnancial posibon ofOre charitaINe commpany and enatde them toensure gist lhe |
| inancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the |
| assets ofihe haritatde company and hence for taking reasonable steps forthe peention and deteci'on of |
| fraud and otherkregularities. |
| ~rnnbrns ofhce Berwxf |
| The directors/hustees who served during the year are set out brdow: |
| John Pontin OBE - Chair |
| lan Rodenck |
| Robert Bream(appall& 22nd July 2021) Karen Morgan QBE —~Chir~22nd July 2921) |
| Chris Borne (Relied 22nd July 2021) |
| Members oflhe haritatNe company guarantee to contribute an amount not xceeding f:1togre assets ofthe |
| hhargatde cnrspany Mtheeeet ofneeding ap. Thefohd rnsnber af such guaranhres at31March 2022was |
| three (202lI -forx/). |
| This report has been prepared in acconiance with the Shriement ofRecommended Practice - Accoungng and |
| Reporting by Charities and in accordance with the special Owvisons ofthe Companies Act2006 relating to small |
| enbbes. |
| Restrkted | 2022 | ||||
|---|---|---|---|---|---|
| ~undsf | Total E |
||||
| Income from: | |||||
| Donations Socialheresies Other~~ |
4,818 | 8,716 | 13,534 | 11,786 %44P |
|
| Total income | 95,255 | 8,716 | 103,971 | 102,223 | |
| 2 2,4 |
(3~ (43,498) |
(4,993) | pgi5J (48+1) |
@45) (57/28) |
|
| 51,625 | |||||
| Transfer between funds | |||||
| Net nawessesk etfsstds | 41PQi | ||||
| ReconcTration offunds | |||||
| Balance brought forward at 1 April 2021 | 2,314,415 | 16,887 | 2,331,302 | 2489,936 | |
| ~at31~2922 | 2PIR%7 | 2PS1IPe2 | |||
| The notes on pages 8to 13form part ofthese | accounts. |
| Fixed Assets | ||||
|---|---|---|---|---|
| Social Investments | ||||
| Garnet Assets |
||||
| Deblors | 735,424 | 677,528 | ||
| Cash at bank and in | hand | 6,493 | 13,772 | |
| 741/1T | 691,300 | |||
| 10 | ($41,6N} | (8N,100} | ||
| Net Current Assets | 100,249 | (109,800) | ||
| Creditors: amounts |
falhng due | @76,626} | (120/02} | |
| aller nare 8ran rwe | year | |||
| NetAssds | ||||
| Income funds | ||||
| Restricted Funds | 13 | 16,887 | ||
| Unrestricted Frsrds |
13 | 2+14/15 |
| The Comverging Wodd |
||
|---|---|---|
| NefieeOeAccaaksfierSe ewrfirrd31 Sach2N2 |
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| The fofiowing accounting policies have been appfied consistently in deafing wilh items which are considered material in relabon to |
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| the charitable company's accounts. |
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| The charitatfie company is the parent undertaking ofa small group and not required by the Companies Act 2006or the |
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| Charities Act to prepare group accounts. These financial statements therefore present information about the company as |
an | |
| indivkkufi enlity and ret about ils group. |
||
| TheT~~~are no~uncerfiairifies~fike abfifiy offike~kr~asa~ | ||
| The Onvergng World meals fire definitio ofapubfic benefit enfity under FRS102. Assets and fiabWies are inifiafiy recogrmd |
||
| at historical cost or transaction value unless otherwise stated in the ndevant accounting policy note. |
||
| J Ni and sources ofesfimafion gvese~,fhe Trustees have had fiomakejr~de,~and assurvfirfions fifefishet fihe of~and~~efasMfis,~,~aed errpeedfiuie. The~arid~ aesresfiifikvvs me~orr~eefieekuirre5 and~~~fihat me~fiube~imdei the ckrxsnsfaices, the resufis ofwhich form the basis ofmaking the~about carrying values ofassets and fiabfifiies |
||
| and are not readily apparent from other sources. Actual results may dfifer from these estimates. The judgements, |
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| estimates and assumptions which have a significant risk ofmatenat adjustment to the carrying amount ofassels and |
||
| liabilities are: | ||
| Investment in subsidiaries -assessnmt ofrisk ofmaterial~LThe fkectors consider no impairment in |
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| investment values is necessary, based on managemenfs ssessment ofcurrent circumstances and future plans. The Directors cffire~omparies in the UK and india ae ommilled toepending fim Group opeabons and tomeet a~of~'new~~fhe nuit five years. Biswordd erredrfe a~ofprcfifis twck fefihe~aed fucfihei~erfo gre kN3g fierre. |
||
| 13 | in Presentation | |
| A balance due from subsidiary, .CW Renewable Energy Umited, has been reclassified from Investments (fixed assets) to Debtors |
||
| (current assets}. This has been nsidered to more accurately refiect the nature ofthe debt due. This hasM impact on the Statement of Financial Activities oron balance sheet net assets. |
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| Comiiaifit Status | ||
| The company is limited by guarantee. In the event ofthe company being wound up, the liability in respect ofthe guarantee |
is | |
| limited toEt per member ofthe company. The company has charitable status and is registered by the Charity Commission |
in | |
| England and Wake with number 1043572. |
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| Income received in advance ofpovision ofaspecified service is deferred untfi crileria for income recognibon are met. |
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| 1.6 | Interest receivatfie kdenat on funds kmt togie ubekkaary~is inrduded when~and ihe amcunt can be~refiably by fihe~iSis irsdcwe uia~fofihe iuarr~. |
| The Converging World |
The Converging World |
|---|---|
| Notns iothe Accounts for the ear ended 31Natch 2022 |
|
| rnrcfpai nccrnnrfing pofidan {crnrgnnnrf} |
|
| Fund Arxelnfing Urnsstrtcted fiards nra~firrasn afthn~of!heT~in~ofthn~~ofthn |
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| charity. Restricted funds may only be appfied for parficular purposes wilhin the objects, as specified by gre donors ofthat fund. Funds are transfened from restricted to unrestricted funds once the coitions have been satisfied or |
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| when resrictions have been removed or amended by the original donor. |
|
| Irrecoveratfe VAT is charged as a cost against the activity fix which the expenditure was incuned. |
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| Support costs are ihose funchons grat assist ihe work ofthe chanlabe company but not direcfiy undertake hariitatfie activities. These costs have been afiocated behansn lhe costofraising funds and expsrrrfitrae on haririabte acfhiifies on the~basis: |
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| Governance costs, which are induded within the support costs ofcharitable aclilies, indude all these costs associated with meeting the constitutional and statutory requireinents ofthe Charity and indude the audit fees and costs linked tothe strategic |
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| management ofthe Charity. |
|
| 1.10 | Donated Services The charity welcomes, and beneIs greatly from, contribufions oftime and experfise from ohhnteem. As itcannot be in~~and in fnn wlr gva SQRP,fihsi ccnfirgarthxs fiagre~isauf~in fiha~of~ |
| Rxed Assets | |
| Fixed assets are staled atcost less accumulated depreciation. Depreciation is provided against fixed assets, other than |
|
| land, at the folkwing straight line rates to refiect both ihe anficipated useful lives and estimated residual values: The Company's Computer and Oflice equipment assels had been fully written down as at31 March 2022 and 31 March 2021. |
|
| ~and~arn~~tbn~hasn~~~~apasfnverif fihafnN ~~ingsa~of~bra gid party andi the~rhrnfia sefif'egin~cmr be~a. estimated reTiabty. Creditors and provisions are normally recognised at their etfiemennt amount atter afiowing for any |
|
| trade discounts due. | |
| 1.13 | |
| Taxahon | |
| The company is a registered charity and it is considered that there is no liability to corporation tax. |
|
| 1.15 | Financial Instruments The~only has~~and~~ofahinrf fihaf~as basic~ Basic~irvrfisxnenfis ana~~ali~value ard suthsaraasngy~all grsiri~ vahrn wit the~ofbank fixrns which nra ssfrmrpmnpy~nt~conf using fhn~ |
| 1' | 4rt03 | 4rt931' | |||||
|---|---|---|---|---|---|---|---|
| XVN | 32P9l | ||||||
| 2,775 | 13/75 | ||||||
| Total | un | esrictsd | expendgure | 3,855 | 48,491 | 60,857 |
| Support Cosh | 2022 | 2021 | ||
|---|---|---|---|---|
| Total | Total | |||
| Servfce hund agreement CNherotgce and ahiisfrÃve cosh Tuned mal srdrsishnue Governance |
5,000 4+% 'Isa |
|||
| Insura res | 860 | |||
| 2,875 | 2,768 | |||
| Reshtidsd eqrenrRare-6uuds pufahte |
||||
| 2022 | 2021 | |||
| Total | Tolal | |||
| Grant funding was pmvided tothe following |
organisations | during the year. | ||
| PHRC Rangng (BxHeshr~ prugrarsm) |