C¢xd Global {A Company Imited by guarant••) Annud Report and Flnanclal Slol•m•nts Y•ar •ndlng 31 D•c•mber 2024 Charfly numb•i 1070684 Company numbw 03564119
CoT(l Gbbol Boord's annvol reprylky Ihe yegr endlng 31 Deceftkner2024 dtvw and acl Oui vtslon & n1$10 Cord's vi%ion Is ol a worfd where all people Irie in the fvllness of peoce. having the freedom to floush ond Iw8 frgè trom fear. Our mission is lo translom cty51unclional relationships between indvidvols and communitie5 and thos8 holding power into Potre and thriving relalionshlps built on mutual dependency and tTV5t. Cords viyon o wodd where peace is lully realised. We wort lo be an effective partner lor peace in Africo ontl Aya by working in societies offected by violent conlllcl and poverly, developing the capooty of portners tro build sustointsbltr peoce. ObctIveS In accoTdancewth Christian prfnclples and as on expression of the Christian faith.. i. to odvance peoce and reconciliolion among people anywhere In the world, by meons inclurfing Ibvt not limited tol building rettitionshi)s, training ond equipping and creating spaces lor clalogve.. 2. to prevent ond relieve poverty among peode anywhere in the wotkl by means including Ibul not limited lol oddresgng inequolities. odvoncing fundomental freecloms, creating sust(xnable income. and building climale reslience-, 3. to fher such olher putposes which may be charitable occording lo the low of England and Woles as the trustees see fil from tine to time. The Board Tefgrrecl to the Charity Commi55ion'5 generc4 guthnce on public benefit when reviewing our oims and objectives and in planning ovr futvre activities. Sn the followin9 pog95 th report demonstrotes the Fxjblic benefit of our WO tsnd how we hcwe worked towcyds Cords strotegic aims. Values and op•rattng pFtn¢lples W• are conwMlonat• and we flnd within ovt5elve5 0 deep concern for our fellow human belngs who are not llouri5hing. We recognised thi5 is be51 demonslraled in PTQCtical ac11on as well as through words. W• vahje everyone and recognise that every humcn being ts creoled unioue and speeial. We therefore place great volue on everv human life bsng worthy of dignity and respecl wth lundamenlal rights thot should be protected. By creating opportunilies lor people of alfferent groups and backgrovnds lo come tO9elher. we ore breoknng down barrfers and helping people see eoch olher 0$ the nwghboLf rather than the'otherf. We e Interdependenl and know that communitEs ond 50cietie5 work best when strong and healthy interdependent relation5hip5 c¥e formed. We expkn• lh• ro01 COU ol conflict, pusling through swjeffjcial and viyble 9ffects to underslond hidden drivers ond how we con ad¢*8S5 them in the most 5U5toinoble woy. Grant making poltcy As port ol carrying out some projec15. Cord makes gont5 to NGOS where the activilies ol the NGO ffls with the purp05&s of the Cord progromme. The amount ond purpose ol o grant 15 Set oul In a pthnership agreement befviegn the two orgunisolions, Ihe NGO 15 reqvred to report bock to Cord on expenditure ogtsinst budgel ond on progress toward5 objecfives.
C¢xd Global Board's annual reportforlhe yeorendlng 31 D•c•mb•r2024 {conYd) AchSevements and One ol Cord's values is 'we value everyone. recogni5ing thot every human being is created uniqug and speciol. We therefore beIve every human life is worthy ol dignity and respect, with fvndomenlcl rights that should be protected. Thi5 in¢ludes those who are cautht vp in oppreslve sy51em5 ond behaviours. This shouldn't be a p¢Jrticulorty controver5ioI postion. AS o Christian-Fcith bosed orgonisotion, this value goes to the core of who we cye and is somethin9 that we seek to ensure ovr internol culture reflect5. Our progammatic woth Strives to ensuro that all people volued ond treoted with dignity and respect. Yet over Ihe p05t tew month5, 1 have found myself wondering why Ihis increasingly feels like a fringe perspectwe. One reason could be Ihal the outworking of this is h(xd. Valuing everyone might look like livin9 or working alonggde people who we fvndamentrally disagree with. It could involve toking the time lo listen to the pSpeCtiveS of people who significonlty drfferent to you. or meetng peoFAe from other faith communilies lo understand whal motNates ond drive5 them. These encounters are not alway5 comfortable and often challenge u5 to consider Ihings it is ea%er to leave unexomined. Yet in today's wodd. recognising our shored hvmonty ond inter¢onnectedness feels incredibly important, especully 05 notrolp1¢5 of divi%on and d'llerence become louder and rnofe prevalent. Global politts ovor the past year have become IncreasglY notnalIstIC, wlh a in 'us-frsl' foreign policies. There are undoubtedly many chollenges thol we lace in lodoy's wortd, such 0$ conflict. mo5$ dispiacemenl, nalwal disoslers ond clirnale change. The eaw ch0e in mony wch sllualions is lo accenlvale dillerences, ylching one group again51 another and creating $tance between them. Thus enatjes us lo conceptualise people os 'lhe other,, 'Ihe Gern, u'th05e who are not like us,. Sowkng todgy for a brfghter tomorrow At Cord we bttlieve that this approach is one that not only hurts others bul hurts ourselves. Bul Ihen how do we respond when we lace these challenges, and division is presented 0$ the onlywoy¥ Nalure is ollen a great source ol inspirolion. Whilst seosons differ d8pending on whefe you live in the world, Sprfng is a time ol yecv Ihot speaks ol new life and beauty. In part5 of A5io. josmine and chetry b105som bloom. in East Africa the Hibigcu5 appeor and in the UK it'5 doffodi15 and crocuses that emerge in their vibranl cdovrs foblowing the eaknesS 01 wnter_ These flowers ore often Ihe result ol lime and energy invested on cold and grey day5 many monlhs earfier. pJantin9 bulbs ond seed5 in the hope Ihol Ihey will grow inlo flourishing ftower5. This is a wonderful onalogy loi the work ol Cord and mony peacebiJdders around the world. Each day people invesl th[ time and energy building relotionships. speoking on beholf of Ihose who hove been marginali5ed. reconciling people and Meting conflict in the hope of preventing the outbreak of violence. Ihey are contributing to o world where petsple can c&exi5t in o woy thot honours ther 5haied hum(Jnily. They (xre sowing todoy for a twhter tornorrow. While this can sometimes feel like o lonely pvrsuil, that Is where 5didarity and relulion5hip come in. as we support and encourage each other when we grow weary or despondent. Bld P•ac• This is the Cord way. In the lace ol challenge, Uncertainty and conflcl we blild peace. We con51stenlly nurture rela1k)hlpS, novigate frogile (d complex situations, promote our MIlant5 and highlight the ways li which we arg beller together. Thi% is what we do today. and whol we will continue lo do tomorrow.
Cord Gbbul Bogrd's annuol reprytlor Ihe year endkng 31 December 2024 Iconvd) Achlevemeftts and rmanc• convd Looknn9 back ol the impocl of our work in 2024. we know Ihe Cord way is Ihe rlghl way. and Ihe way that Is needed. A5 51tvotions ebb ond flow cyovnd us, the need lo peacefully ctreyisl, to share spoces, resovrceg Tr)d power remains constant. Therefore. we will hold lasl lo ovr vigon of o world where oll people experience Ihe fvllness of peace." hcwing the freedom to flourish and live free from fear. A5 you read about Cord's impact in 2024, we hope you wll be encouraged by our ccnmitment ond inspired lo continue to joumey with us. Ovr hnpacl In 2024 In 2024. C(xd worked alongside and sUPPOrted some incredite partneF5 we sought to build peace. OUT work posittvely impocted the live5 of over I17.Dm people acro 6 countries of implementation.- Butund in Easl Africa and Combodio, Vietnam, Laos, Myanmar & Thaffond in SoultrtrEasl A%a. A core woy Cord builds peace 15 through Ihe eqUipng. troining and coaching of local org(ynisation5 ond communili85. Thi5 w05 carued ovt through 113 training ses5ion5 With over 1.9CK) people ottanding. Central to our approach is th8 importonce of embedding leoming. so we provide follow-up and lailoied cocthing with trcining parhciponts. This opryooch engaged 1,665 peOe through 625 cooching sessions. 36% or the trunkig ses5ion5 focu5$9d on FundtsmentL4 Freedomg & Humon RjhIS, such os Freedom ol Religion or Belitrl IFORBI 01 Land Righls. 28% looked ot peo¢&building approoches such as nofvviolenl COMMUnallOn and conlllcl sensilfvlly.15% locussed on develotxng orgoThsolional capacity lor partner5 and 12% on Safely and Security. Throughovl the year C(Yd worked directty with 867 Humon Rlghls Defenders IHRDSI across all our conlexls, vAlh 67% of those being Women Htxnan RJhIS Defenders IWHRD51. Cord's emFfia%s on strengthèning local partnehIP continued. with cfirect gvpporl provided to 30 Civil Society Organisations lo ompmfy thelr ali1Y lo deliver impact in the ¢ommunilÈs where Ihey wotk. These organlsalions introduced 39 new policies wilhin their OTgani5ations 09 parl ol Cord's work. Small gront fundng lo locol partners v4hich enables more context specific progomming increased in 2024 wlh al le05135 gronts123 in 20231 made lo 33 organisalions117 in 20231. This wus 30% more than the yevious ye(x, increa%ng local portner granls to £469.5071£361.695 in 20231- representing 30% 01 Cord's tolal expenditure in 20?4. Our thretrslrond 51rategic approach continued lo be embedded in CoTd'5 global programming in 2024. Enabling tivil sottety to engage consfrvctNely wlh Powerholder5 and Locol AvthoritEs remoR)ed a priority with 24 engagements 5UPPOrted. resulling in 18 new polries being implemtrnfed. In oddition, 42 space5 were creoted lo locHilale connection ond relationship building with 973 people participating includng 290 Human Rights Defenders ond Cwil Society members. Cord's work in 2024 continued to be oligned to 5 globol progamme theme5. The58 are detoiled bèlow". l. Econon4c Empowermentr. The ideol of peace is o di5tont concept for someone slnjggling lo fegd their fomily or send their chiklren to schod, whli e in8quolity is often o driver ol conflict ond can fuel onwxng tenons. Cord is empowering communilies to S(Jv$ money collectThfely and invest in their own businesses, facilitating o shift from o victim mindset lo a sense ol ernpowement over their own futuie. Where peoe are m8aninglully included in the Social and economic prosperity ol their community. thoy dem¢)n51rate a greoler collective commitment lo build and sustain peoce.
Cord Globol 8ogrd's annual rewlftsrlh• y1 •ndlng 31 Decen)er2024 (conyd) Achlevem•nts and erf0mnCe conyd 2. Women and Gk15 Eww•mnt.. Women's eqLAlable involvement in dttcion moking is essenlid lo sustoinobte peace. Cord hollenges the loot Causes ol gender inequality by oddressing the Struct01 issues thal keep women ond gids from oc¢essing thar rights. We support women human fohts defenders to gow thr confidence and crecSlJ"lity in mol&dominated space5 and engage men and boys in communi1$ to chollenge stigma and Prejude. OLK WOTk enwres women ond gS can reach the full potential and play their es*ntial role in promoting jvst ond peaceful socptie5. 3. Clmate Change & The Envtronmentr. The challenge5 of clirnate change qUIre global solutions that mearungfulty ncotpoiote Ihe voices of those m05t (Jftecled. Cord is building the capacity ol local ond indgenous people gioup5 to protect their land from deforestation. illegal logging and unsUStanable resource extro¢tion. We ¢reate avenue5 for them to am rfV their V0e$ through collective network5 and constructively engage wrfrh powetholders svch 05 mIAtnational companies and govemment ministries to preserve forests and kyodiversity. 4. Svpporling Stronger Soclettes.. Cord believes that o strong and reslient civil socply. to constrvctiv81y hold powerholdets lo occount. is vilol lor Ihe eflectNe fvnclDning of goY8rnments and sooety as a whole. We work in ploces where the 5PQCg for cNic enGogemenl is limited. lo sliengthen and btllld up civil soci8ty18ad815 through Irainng, menlor5hp ond netwofk. so Ihey con use the vTrce lo bring meaningfvl change in Ihwr cornmvnitie5. Our work also engages those in power, enhancing th9ii obility to govgm ond collaborole eff8Ctwety with communities. 5. Fundamenlal eedOm& Peoje cannot flovrish in 50oe11¢5 where ther fundamental freedoms are denied. C(xd works across a Tan9e of contexts with auth<115 ond communities tu improve both the knowledge and opplcolion of hvman rights lor all. Our opprooch encourages open and frank discusyon to breok down bSe$ and fOc1101e cooperalion between th050 hdd'ng drftering views. We wort to improve freedoms ol reluion, belief, expression, including freedom ol speech, ond champion Ihe rights of groups mcygnolised due to drfterent factors such as oender, ethricity. and atilily. Flntsncltsl Rèvlèw The resvlts for the yeor tsnd the situotion at 31st December 2024 are set out in the fin0n¢1 stotements_ The boord members confmi thot, in they oiyrion. applicable accounting standards and statements of recommended pro¢tice hove been followed. The total income for the yeor wos £1.443k compared to £1.967k 120231. Donation and legacy income wos £397k 12023.. £338k) an increase of £59.318 lor 18%1 on Ihe previous yeor. Gront kncome in 2024 wos £1.032k12023.' £1.605kl o decrease of £573k lor 36%] from the previous year. Gront iicome accounts for 72% ol Cord's total income in Ihe yeor. 115h¢)uld be noted thot gront income amovnls received VAthin a gven year vory ond fvnd5 (Tg regLAarfy carrEd fcrnord behveen yeors. In 2024 the restricted lund5 balonce ot the end of the year was £167k12023.' £509kl, thi5 15 £342k.lor 67%1 less than the previous yeor. Fundran9 costs represent 6.4% of totol evnd1v 12023.. 6.7%). meonlng the cosl of roi%ing funds proportionally lower the the previov5 yeor.
Cfxd Globol Boord'5 annuol rep¢xl lor the year endkng 31 December 2024 Iconyd) Hnonchjl R•vlM¥ conyd Ewendilure on charitable aclF¢ities in the yeor wcts £1,537k12023.' £1.565kl. a decrease ol 1.8%. Of the expenditLxe on choriltsble acllvlties £l,170k c¢ 76%12023.. £1.180k or 75%1 wos direct progomme costs inlernationally of which £470k12023'. £362kl was spenl in grants lo partner orgtsnisalions. The remolning 24%12023'. 25%) was support C051s including org(xnisotion leoder5hip, owolions ld programme support costs. Invesfrrnnl power5and poNcy Cord corries out a variety of long-term ond short-term Projects. The Bwrd has exomined the requirements of free reserves. which cxe those unrestricted funds not invested in fixed assels. desiwated for 5pecffic pw)oses orotherwise cornrnitted. to ensure thol the ¢hcty can meet all it5 obligations. At the end of 2024. the ChtY held free re5etve5 01 £636k12023.. £546kl. The Boord conyders that an appropriate level of reserves for the ChatY should be based on belween three and six months of general fvnd Lmrestricted expenditure of approxrnately £275k plu5 oddilK)n(Jl worknng caFxlal the chorily needs in order lo cover operotional rtsks inclvdng Lnexpected costs ond shortfalls ly volotility in income. of opproxmolely £225k. GNen the ongryng vololilify seen globolly. the Bourd ConderS il neCeary thol free reserve levels are monitoréd d05ely during thi5 period and held in on eagly occessible lom. Total funds ol the chcllty al the year.end stood at £952k12023.' £1.197kl. Restricted fvnd5 lolalled £190k12023'. £520kl and unresliicted fundg totolled £762k12023.' £677kl. Free reseNes of the chorify at the y8ar end. stood at £636k1223'. £546kl. Deggntsled fvnds totalled £126k12023'. £131kl which is made up of o currency exchange risk monagernenl fund of £40k12023.' £40kl. an InnovotKJn Fvnd of £41 k12023.' £48k, previov51y known os the Min10t project fvndl. o progromme lulfilmenl fund of £1 Ik12023.' £01, o development fund ol £15k12023.' £1 Skl. ond a li%ed osset lund of £19k12023.' £27kl. The 055ets representing Èoch ol Ihese funds are anolysed in nole 13 to the financial slalemenls. Cord's mandate lo Build Peace remuins cruciol in today'5 worfd. Portner5 ond communities ore welcoming the support Cord brings. and in5thtutional donors a recogni5ing Cord os a trusted partnerwho can be retied upon lo deliver high quality programmes. However. we cannot 51cJnd Still. Cord musl remcn ottentwe to the ever-changing environment around v5 and oolapt in oidei to remcin relevant. Thk5 15 something Cord has done as a chorily ever ynce its inception 58 years ago In 1967. arid now is no dfferent. ov the coming period we envisage that funding will become an incieosing challenge. The US Adminislralion's decisions to drastical reduce its intemational aid and development bvdgel are having immediate imptscts on Cord and ore likely to hove a wder knock-on effect on the cwailability for peacebuilding WO . Historically the US ha5 been the laigest lundei of internotionol developmenl globally. so these change5 wll have Serious romificalions. Olher Govemment5 such as the UL the Netherfonds, Sweden ond Evropeon Union hove a1$0 Stated intentions to reduce overoll intemalional development spencfing ond increasg their focus on dornest issues and defence. Thls means Cord's funding stralegles vill need to 8volve, to iclentify new pc¥tners thot we hove not previously engagtrd with. This wll likely include developing relolionships with more Irusls and foundolion5 who or8 actwety looknng loi organisalions with o Irock record of innovotK)n c*)d creating mganinglul impocl.
Cord Global Bou5 unnvul r•portlorthe yeur endlng 31 Decemb•r2024 {¢onVd) Tho push to wort colloborotively wth olher like-minded internotionol p(Ylners is also stronger thon ever before. In this period of continuing change globally, we mvsl continue lo seek ovt p(rIne who share Cord's values. whom we con bring complementary sklls and eerience to In order lo increase our elfeclivenes5 in bvodng peece. Our priority will rema with EU-CORD IEuropgan Netwotk ol Chnslion Relief ond Development Oigani5ation5105 pri)iary source ol Internalionol portnetships although we wll also invest line in buldng strong collaborative value5-ba5ed rdationshps Oute ol this nelwork where opyopriote. As an orwnisalion commilted lo supporling local orgonisalion5 to ftovrish ond thrive. much of Cord's wort and lundng is locussed at o lo¢ol level. Cord's valLJes and ethos drive us lo con1inuovY improve these p(Ttnei ieloti¢nships $0 as to be recognlsed as o partner ol choice for local organi5ations. We will seek to achieve thig in 2025 throvgh a refreshed portn8r5hip5 approach that wll bè developed in consultation wth Cd.5 Portners and sloff. In 2(Y25 Cold wll continue to owote wilh teams in BuLmdi, Cambodio, Myanmor ond Loos whilst remaining agile (d adapting to chonging environments and inclvdw)g Vietnam. the Phllwnes, Thailand ond Ugondo. Our regn01 strclegi&s in Sout1East Aa and East Ahica wll also support the conthued exploration ol new countries in wlich Cord can moke o dfference. Thiougholrt 2025 the development ol Cord's pectcebtmlclng OPFKoach will conlinue a5 0 strotegic priorty. fvrther equpping tearn5 td partneis to vtllSse lods and appr¢the$ to plant seeds ol peace in conHlct-oNecled countries. Following Ihe introduc1n ol o new finance syslem al the end 012023. Cord will conlinve to focv5 on improving intemol wtems to ensvre we remoin elleclive and resilient . This wort in 2025 will have o specific locus on security. 5ofety ond duty of core. 51DJclwe ovemancè ond mano emenl The Ch1¥ Is governed by its Memorondvm Artides of Associotion os odopled on 18 May 1998 and last amended on 13th January 2025. The objects of the chority os expressed in the Memorondvm ol Associotion ole as follow5.. In occordance with Chrislion principles and os an eypressB?n ol Ihe Chrislian faith.. l. lo advCe peace ond reconciliation among peOe anywhere in the worfd. by means including Ibut not limited tol bvilding relolionshps, Iroinin9 and eqLippin9 ond creoling spaces lor dalo9ue', 2. to prevenl and relieve poverty amon9 peoFle nhere in Ihe worfd by mean5 Inclv(ng Ibul not limited lol addressing ineqvalilie5. advanang fundamental froedoms. cr8ating sustoinabje income. and building dimate re5ilience- and 3. to Ither Such olhei PUlF)ose5 which moy be ch(xitokle occoiding to the low of Englond and Wo1È5 QS tho tru5teÈs see fit from time lo time. The Bocxd is responsie lor the overall govemonce of Ihe charily. bo¢¥d and tralnln9 The Bocrd members ore selecled to ensure there a broad range of relevant skn115 amongst the Board membeTS. The onnuol Ironing cycle lor the Boord Is deslgned to ensure the members ore kept vp to date in ChtY I(. fvn¢*oiEing. peocebvildin9 & development progommin9, salegLNJrcSng. human iesouices. 5ofety ond security ond have experience ol C¢xds inlernalionol pro9rammes.
Cwd Globd Board's annual r•portforth• year endln9 31 Dec•mb•r 2024 {coftYdl Orgonlwll¢)n of the ¢harlly Cords operations ore conducted in accordance wh the Memorandum and Arlicles ol Associotion and the policy and slrolegy that are approved by the Board implemented through Ihe Leoder5hip Te¢)m. Individuol Fyoje¢ts are mornoged by CovntrylRegDnol Represenlatives who are responsible lo and report diieclly to the Leadership Team. Clear lines of manogemenl ond Tesponybility have been agreed by the Boord lor Ihe activities ol UK staff, under the direction of the le0dehIp Teom, led by the CEO. The Board regLAarfy review5 the financial stolus ancl progress ol the orgoni50tKJn's work. The Bocyd hos a Finonce SUtcOmmIttee which revie and monilots finonce, o Programme Development SutCOMMIttee wtrmch focuses on the future direction of Cord'5 PTogrammes and o Risk Management Sub-cornmlttee which focus8s on managing the overall risks to the orgaThsatK)n. Risk Managem?nt The Board actively review5 the major fo which the charily is exposed lo ensLKe thot system5 ore in ploce to mitigate those risks. A Risk Manogemenl suComMIttee meet5 twice per year to review these risks cnd the mitigation plans. Internal ri5k5 are minini5ed by the ITnementallon of control procedure5 foT dl financial transactn$. Heolth ond sofety. secLJrity. personnel procedures and office functions ore examined on a regular ba515. Externot risks ore minimised by regulcY monitoring of the external environment-. covering income generolion from oll donors ttnd contexluol conflict 0nctys. The Bocyd believes these actions. combined wilh Ihe free ServeS pdiy sfoted obove. will provid8 sufficient resovrces ond procedvie5 in th8 event of odvgrse condition5. The Board has also examined other operalionol and bv5ines5 ri5k5. such os those from sofeguording and secvrity rnotter5 which it faces. and confnn5 thal tl has established systems lo miligote those doemed sIgncan1. Poy poffcy f¢r senlorsloff The members ol the board ore the trustees of the charity. All trustees oive thar lime treely ond no trustee received remuneralion in Ihe year. Oetails of Iruslee's expensgs ond related pc¥ty Iransaclions cye disclos8d in note 6 01 the accounts. rhe Leadership Team comprises the key monag&menl personnel of the chorily in charge of directing and controlling. running and operoling the charity on a day-ltrday t)as5. The ptr/ of all slaff is govemttd by the Cord Global Grocln9 Structure that wos1nlroduced in 2022. Thi5 15 guided by Ihe Poy Phlogophy ond Poy Apyooch documen15 Ihot outline how Cord wll sel salaries ond how these will be reviewed. Cord sets pay according to 5 key principles os shown below.. Fatr Pay- We want to ensure that our tspprooch to poy is fair to oll staff. recognl%ng Ihot every staff member odds value and contribules lo our 01ganisolional impact 2. EqUIab Pay - Within Cord we wont there lo be eqVitOEe pay. Thls k demonstroted by a con515tency in aF)proach lo iewards acros5 the organisolon regardle55 01 location, nolDncrfrty and role. l Alllable Pay- Cord is a relatively smoll chority and people costs are o ggnificanl investment loi the organOI10n. Hoving the desire to be a go steward of fund5, 11 is cruciol that Cord make5 poy choice5 th¢Jt ale not only fair ond equitoble but sustunable for the organiSatn. 4. Vtsluè for money 5vPPOrters & donors - Cord prideg ilsdl on our opproach to our work being good volue for money. We octhOedge the responsibility we have 10 Spend money from supporters and in5titutionol donors wsely ond lo en5vre Ihat we steword those funds responsibly. 5. Recwlment & Retenllon ol talent- For Cord to be o strong ond sustainable organisalion, recruiting and retaining high qvolily lolent is criticol. Cold periodicolly benchmarks our solories awnsl comparative orgonisotions to ensure tiockin9 with the appropriate mrxket rotes. FundnAslng AclMlle5 Th8 chLYTfy's vnrestricted fundroising activities ore undertoken by its own FLmdroigng team. wth oversight by the organalK)n,5 Leadersh} Team and the Board ol trustees. The chority a member of the Fundroising Regulotor ond obides by ther Fundroising Code of Practice which Cove vorious ospgcts of fvndrolslng. The ch(Thty periodicolly rvns tglephone fundroising campouns. Tho tharity is vnderslanding and comp0$5ionote towards Ils supporteTS ond 111 never explat vvlneTability. We do everything we can to as$? our suppuler5 to make informed decisions about the 5UPPOrt they ch005e to oive. We 4eol wilh each donor on o c05e-by-case basis and do not accept donotions wher8 we have re050n to beleve thof the donor may be vulnerable ond therefore dtyng $0 could be hormfrA to the donor. No complaints have be8n recepied by the charity dwectly abovl Its fundraising activitie5.
Ceid Global &oard5 onnugl report lor the yetsr endkng 31 O•c•mber 2024 (conyd) erence and admknbtrall¥e detoits Slalvs of lh• choiily Cold Global. also known as Cold. fj o company limited t>y guorantee not having share capital INO. 35661191 {d o registered choiity (No. 10706841. Cord is monoged by o Boord who act drectors of the compcxy ond trustees ol Ihe chuily. Cord hod eighl Boord members at the dote of th report. The following held offica os drectots Imembers of the Board) during the year and a150 held officg al the dote ol this reFX)rt unless othetwise staled.. Moorten Fontein Katherine 8reoley Adrion Howlho loin Wilson Resigned 1410912024 Appfinled Chow 1410912024 Resigned 1010512024 Rebecca Snead Abiual Sumption Robin Greenwood Ancl-ew Moclcty Resigned 3111212024 In accoidance wth the Article5 Of A5socioIK)n. the Boord opponled three committees to help with the running of the offov5 of the chority in the oreos of Finonce. Risk Management ond Progcmme5 Over5ighl. The Boud oims lo have al least two Board member representatre5 on eo¢h committee. The Booid gPF)oinls the commillees on an annuol bays. Andy Pa5k and Kalia Richarc150n, members of the Leadgtship Team. were olso opt)oviled lo these commiltees. Chief Executive.. Andy Pa&k Kalio Richardson Comptsny SecrelLV. Charfty registration number. Comp(xny registration numtw. Address of the ch(YiVs regist office: Name ond address to Ihe bank.. 1070684 03566119 Enterprise House IG71. Fojeshll Entertse Pa Courtoulds Way. CV6 5 NX Baiclay5 Bank PLC. 50 The P(xade. Leamington Spo, CV32 4DD stat•m•nt of thè Boarrf5 respo The Board Iwho e also the diie¢tor5 for the PVTposes of company l¢)wl ig reSpOnbIe for prepc*lng the Annu Report ond th9 finonciol slolements in occordanc¢ with oppsicoble law ond Uniled Kingdom Accounting Standard5 (United Kingdom Gener(4ly Accepted Accounting Procticel.
Crmd Qbal Board's annud rewl l¢)r thè y•or •ndlno 31 D•c•mb•r 2024 leonYd} statement ollhe 8oard's respon4bllNtes lconfd) Company law requires the Board to prepare finonciol statements for each financ1 year. which give a true and fair view of the state of affar5 of the choritoble company and ol Ihe incoming resources Ind cjpplication of re50urce5. including the incorne and expenditwe, of the choiitoLe company lor the year. tn prepJNg these financiol stalements. the Board 15 required lo.. setecf 5viloble accounting policies and then apply them con515tenlty observe the method5 ond principle5 In the Chcxities SORP 2015 IFRS1021 mcl(e IgeMentS ond estimates thot or$ reasonoble ond prudent stote whether applicoble UK Accounting Stond(xds hove been followed, wbject to ony rnoleritsl depcrlures disclosed ond emploined in the financiol stotremenls epaie the financial slalemenls on the gryng concetn ba%s unless tl is InapprOale lo presume that the chcxitOe company will continue in operah'on. The Boc¥d is resFx)n5ible lor keeping odequat8 occounting Tecords that disclose with reosonable accuracy ot ony lime the financlal P051tion of the charitable compony and enable Ihem lo ensure that the financial stoterllenls comply wth the Companies Act 2006. They are dso responsible lor saleguording the assets of the charitable company ond hence for taking reosonoble steps lor the prevenlDn and detection ol fraud and other egLIritEs. In $0 for 0$ the Boord is aware". there no relevant ovdit inlormolion of whrh Ihe choritoble compony'5 avdtor 15 unawore," on the Bo(xd have taken steps thot they owhl lo have taken lo make them59lve5 awLYe of ony reSevont ouail ond lo e5tobli5h thot tho avdlor owore ol that inlornalion. This rewt is prepcred in accordance with Ihe specnl provision5 of Port 15 of the Companies Act 2006 relating to small componies. Approved by the Board on g May 2025 %gned on its beho by. Kalherine Breoley Chair of Trv5t8e5
Cord Global Independnl Audilo¢s R•ptht to lh• Twyte of Cord Global Oplnk¥n We hove audiled Ihe financial statements ol Cord Globol Ilhe 'chuilable compony'l for thts year ended 31 December 2L124 whlch comprlse the Slalemenl of Financial Activities, the Bolance Sheet. the Cashflow Statement ond the notes to the Inancvjl statements, inclvdng significant accounting polici85. The finoncial roportin9 framewoTk thol has been applled In Ihe5r preparation is oppjicoble low ond United Kingdom Accounting StanduL. includng Financial Reporting Standard 102 The Finonciol Repryting Standard opplroble in the UK ond R8public of Ir8land (Uniled Kingdom Generally Accepted Accounting Praclicel. In our opinion the finonciol statements.. give o trve ond foir view of the stole of the Choritoble comF)ony's offolrs cts al 31 December 2024, and ol 115 incomng re50wces and OppIOtiOn of resource5, including 115 income ond expenditLKO. for the yeoi then ended- have been properly prepared in occordonce wilh United knngdom Generally Accepted Accounting Practice,. and have been prepcyed in accordonce wrth the iequiremenls of the Componies Act 2W6. Baslsfor oplnton We conducted ovr audit In accoidonce with Inlernalional Slonc*Jrds on Avd'ting IUKI Ils IUKII and applicable I. Our respowitililies undw Ih05e slandaid5 are further described in the Avditor'5 reSpOnbIlItieS lor the oudll ol the financic4 slolements section ol our report. We are independent ol the choritoue compony in occordance with the elhScal requlremenls Ihal are relevonl lo our audl ol the financial 51alem?n15 in the UK. including the FRC'S Ethicd standard, and we have fulfilled OLf Other ethic responbIlItieS n accordonce with these reguiremenls. We believe Ihol the ovdil evidgnce we have obtained 15 wfficient ow)d opprowatg to provide o bo5is lor our opinion. Conckthns r•laNng lo golng conc•rn In ouditing the linancial slalemenls, we hove concluded thal the trusle85' V5e ol the going concem basls ol accounting in Ihe preparation ol the flnoncial slalemenls is appropriole. Bosed on the work we have performed, we have not iden111d any moteriol uncert<llnt1È5 reloling lo ov6nls or conditions that. dIdUallY or collectively, mcry cast signiliconl doubl on the charitable coMpcY'S aLy"lity lo conlinue as a going concem for o periooj of al least Iwelve monlhs trom when the finonciol 5totemerit5 are authorfsed ftsr tssue. Our respon&bHllies and the responslblllti&s of the Irust8es wilh re$cl to g¢ing concern are described in the ielevant se¢tions of Ihi% report. Olhw Infovmatlon The olher information comprises Ihg informotion included in the bocyd'5 onnual report, other than the flnancial slotemenls ond our OU10T,5 report Ihereon. The trustees ore respons4e lor the other informotn contained wlhin th8 board's annuol feport. Our oyni)n on Ihe finanaal slalemenls does not cover the olher inlomalion and, except to the extent otheTwise explicitly slaled In report. we do nol eypress any form ol assurance conclusion Ihereon. Our respon%lility is lo read the other inftsrmotion ond. in doing so. cOnder whether the other information is Materially inCon$tent wlh the linancK4 slolemen15 cy our knowledgo otytointrd in the course ol the aucSt or otherwse oppears lo be materfally misstated. 11 we Identify such mater1 inconyslencies or opporgnt material mi55tokements. we ore requwed to dettrrmine whether this gives rtse lo a material Msta1eMenI in the finonciol statements thgmsèlves.11. bed on Ihe Work we hove perfonned, we conclude that there 15 0 material mst01emenf of this other inlormatlon, we are required lo report Ihol fact. We have nothing lo report in this regord.
Cord Gk•bal Indep•ndènt Avdllorf5 Rèwlto Ihe TnJst•es of Cord Gltsbal {corWd) <)pknlon$ on olh•r mrth•rs pr•scrfb•d by th• Cob)yunles Act2006 In OLY OFinK)n, based on the wod¢ undertoken in Ihe course ol the aucfit= the )fom)alion gè¢en in the board's annual report lincorporating the drectors, repcrtl lor Ihe financial yecy for whlch the finoncial statements are prepared is con&stenl wilh Ihe finanaal slalemen15,' and the t(1d$ annuol report lincorporaling Ihe cfyeclors, report) has been prepored in occordonce with applicable legal requirements. Mallers on whlch wè are rwvlrtd to ptsrt by eXCeA In the light ol the knowleclge ond vnderstanding of the Ch<table company and ils environment obtained in Ihe course of the ovdt. we have nol identified moteriol misstotements in the b0d'S annual report. We have nothing lo report in respect of the following motters in Telalion to whh the Companies Act 2006 requires us lo repcl to you if. in our opinion.. odequote accounting r8cords have nol been kept, or relurns adeqvole fc our audit have not been received from branche5 not viyted by u5- or the finoncKJl stotemenls ore not in agreement wilh Ihe occovnting records ond retvms.. or cerl£in cfisclosvres ol direclors, reTnunerotion specified by low org not modg.. (x we hcwe not received oll the information ond exjonations we require f(x ovr oudt.. or the trvslees were not entitled to prepqre Ihe finoncKII statement5 in accordance wilh the small Companies, regime and tak9 ocfvontage of the smoll componies, exemption5 in preparing the Lfirectors. report and from the requiremtrnt lo prepare a stiategic Tepul. RponSIb[IM•S olfruslee$ As exploined more fully in the boord's responsllilllles stalemenl, the trustees Iwho are 0150 the directors of the choriloble company lor Ihe pLKpose5 of company lowl are responsible lor the prepc¥olion of the finonciol stotemen15 and for being satisfied thol they give o true Ind f(ir view. ond lor such internal control as the Iruslee5 determine is nece55ary lo enable the prepc¥alion ol finanaal stalemenls Ihal are free from moterial misstatemenl. whelher due lo fraLMJ or errcK. In prepcping the financial statemttnls. the truslees ore responsie for ossesyng the choriloble company's ability to continve 0$ o g¢ing concern, d'scloyng, 0$ applicable. matters related lo giing concem and v%ng the going concern bosis of occounting Unless the truttees either intend lo liquidate the charitable cornpony or lo cease opwalion5, or hove no reolistic altemotive bul to do 50. Audkof$ lesponbIlle$ lor the audit d the financltsl slolements Our objeclives ore to obtain reasonatAe assurCe obovl whethei the finanaal stalement5 a5 a whole are tree from materK misstalement, whether due to fraud or error, and to issue on auditor's report Ihotr include5 our opinion. Reasonable Sur(l)Ce is a fHgh level ol os5vronce. bul 15 not o gLJoranlee Ihol on oudil conikncled in tsccord(mce wth 15As IUKI will always delecl a malericl mi5Statemenl when il ex5ts. Mi551otement5 con ae from fraud or eNor ond are considered molttriol if. individvolly or in the oggiegale, they could reosonably be 8xpect8d to influence Ihe economic deosion5 of vsgr5 token on the basis of Ihe5È fjnanciol slolements. kregvlorities. including fraud. are in5tonces ol non-compliance with laws and regvlolion5. Wtr design pro¢edvres in line with o spor&iiylilies. outlin8d above, to delect moleriol mi%51otement5 in respect ol irregulorities, including Iroud. The 5pecifr proc8durg5 for this engogemenl and the exlénl lo which Ihese are copoble of detecting irregulthties. including Iroud is detoiled below- Auditing the risk ol monag8menl ovenide ol controls, including through lesling journal entries and olher odjv5tments for appro[XIene,. Revlewig minute5 of rnestings ol those charged wlh govemance.. ond EnqLriry ol managem¢nt to idenllfy any instances ol noTrcompl'on¢e with l(Jws and regulations.
Cord Global Independent Avdllofs Repryl to the Trvsl••s of Cord Global (conyd) Avdllorf> re3ponslbltlles lor the ovdll ¢1 th• finonclul slal•m•nts {corWd) Because of the inherent limitations ol an c¥Jdrt, there is o rk Ihal we w1 nol detect oll irregulorilies, Includlng those letsng to o m(Jtreriol misstatement in the financial statements or non-compliance wilh regtAotion. This risk increases the more that complionce with a law or regulotion is removed from the events and Ironsoctions reflecled in the financial $talemenls, as we will be less likely to become cwore ol instance5 01 non-compliance. The 15 rlso greater regarding iregulorilies occvrring due lo fraud rolheF than etror. os froud invdve5 intentional conceolment. forgety. collusion. Omison or misrepregenlalion. A further description ol responsibilitleg IS ovailable on the flnoncial Reporting Council's website at.. https'.1lw.frC.o[9.VklIIt0rylsIanda[ds-cadS-p0I1¢Y10udit-OSsur0nCe-cd- elhicslavdilors-respon&bililies-lor-Ih&auditl#description-of-the-auditor5-iespon&kn"liIies*loi-lhe-QUdIt-0f-lhflnonCIQl4to1eMents- ae117638. This description form5 Port of our ouditor's reporl. We communicate with Ihose charggd with govgrnonce regaiding. among olher mallers, the planned scope ond liming of Ihe oudt and 5KJnificant audttr findlngs, inclvding any si9nificont deficignci95 in intém conlrol thot we identify during our ovdit. ils• ol our r•wl Th report is made solely to the chorilable compony's members. 0$ a body. in accordance wilh Chapter 3 01 Port 16 01 the Companies Act 2006. Our audit woth has bgen vndertoken so that we might state lo the charitable cornpony'5 members those mallers we are reqvired lo state to them in on ovdilor's report ond for no other purpose. To the lIest exlenl permilted by low. we do not accept or assvme re5ponsibilily lo anyone other thon the charitatle company and the charitable compony's members 05 a body, lor ¢yJr audit work, loi thi5 report, or for the nK)n5 we h(Jve formed. Gregg Olner MPhil BAIHonsl FCA (Fellow Chortered Accountontl lor ond on behalf ol Honison 8eole & Owen Lmited CharleTed Accounlonts ond Stotutory Auditor Highdown House I l Highdown Rood Leamington Spa Warwickshire CV31 IXT 9 May 2025
CORD GLOBAL STATEMENT OF FINANCIAL AcnvinES (AND INCOME & EXPENDITURE ACCOUNrJ Year Ended 31 December 2024 Unrèthcl Totol Fvnds Nole 2024 INCOAIE Donations ond legaoes Funthaising trading income Investment income 396,867 396.987 337,669 429 429 1.044 917 398,408 398,528 339,630 Incoming resowce5 from charitoble oclivities Gran15 f(yoperoling activitie5 86,080 945,770 1.031,850 1,604,976 other incoming re50vrces 12,967 12,967 TOTAL INCOME 497.455 945,890 1.443,345 1,?66.664 EXPÈNDIWRE C0515 of ralslng fvnds Fundrain9 and publicity c05t5 FUndrain9 tra(thng.' c05t of goods sold Tolal coslof ratslng lunds 105.168 105.168 112,245 105,168 105,168 Exp•ndlur• on chaFftabfe actMHes 256.339 1,280,579 1,536,918 I64.952 TOTAL EXPENDIIVRE 361.507 1280,579 1.642,086 1.677,585 NET INCOAIING I {OUTGOING) RESOURCES 135,948 (334,689) (118,T411 289.079 OTHER RECOGNISED GAINSIILOSSES) Goinlllos51 on exchonge rate dlfference Trdnslw beh¥een fvnds 146.1841 14.5791 146,1841 128,32 4.579 NETMOVEMENTIN FUNDS 85,185 1330,1101 1244.9251 260.752 Bolonces brought lorwarcl al l Jonvary 2024 676.558 520.256 1,196,814 936,062 BALANCES CARRIED FORWARD AT 31 D•c•mb•r 2024 761.743 190,146 951,889 1.194,814
CORD GIOBAL srATEPAENTOF FINANCIAL ACTivillES (AND INCOME & EXPENDITURE ACCOUN Year Ended 31 December 2023 Uftrestrfcled Total Fund$ 22 IhlCOAIE DonatN?ns and legacie5 Fundrotsing troding income Invesfrment income 331.748 1.044 629 5,921 337,669 1.044 917 269.708 1,128 449 333,421 6.209 339.630 271.885 Incoming resources from choiTtoble acttvities Gronts foroperoting octivities 1.604.970 1.604.976 1,2Ql,001 Olher incoming resources 10.730 11,328 22,058 9.357 TOTAL INCOAIE 344. 151 1.622.513 1,966.604 1,482,843 EXPENDMJRE Costs olralslng fvnds Fundroithng ond publicity costs Fundroising Irading.. c05101 good5 sold Tolal cosl of rolslng funds 112245 388 112,245 388 98,969 1.146 100,115 112,633 112,633 Expendlture on Cl1*0b1e aclivtties 2&5.198 1,298,754 1.564,952 1,441,059 TOTAL EXPENDITURE 378.831 1.298.754 1.677.585 1.541,774 NET INCOMING } (OUYGOINGJ RESOUIICES (34.680) 323.759 289.079 158.931) OTHER RECOGNISED GAINSI&OSSESJ Gainll10s51 on exchonge rote difference TnsFerbelween fuftds 128.3271 17,774} 128,3271 24.151 7.774 NMovEmENT IN FUNDS r/o.781) 331.533 200,752 (34.780) 8alonces brought fotwai(J afr l Januory2023 747,539 188.723 936.002 70.842 ALANCES CARRIED FORWARD AT 31 Decembw 2023 676.558 520,256 1,196.814 936.062
CORD GIOBAL ALANCE SHEEr As at 31 D•¢•mb•r 2024 2023 FIXED ASSETS Tangble fixed (Se15 41.990 38,831 41,990 38.831 CURRENT ASSETS Debtor5 Cosh ot bank gnd in hand 267.624 687,047 422046 783,073 954.671 ,205.119 CREDITORS: Amounts falling dve wilhin one yeor 144.7721 147,1361 NEf CURRENI ASSErs 909.899 1.157.983 TOTAL NEf ASSErs 951.889 1.796.814 FUNDS unrts1Itd Fund$ 12 GENERAL FUND De%ated Funds.. CLvYency Rlsk Monagemenl Fund Designated ed A$5et5 Fund )novollon Fvnd Programme Fvllfillmenl Fund Development Fund 635.870 545.715 40.000 18.865 27,576 48.137 41.198 10.680 15.130 15.130 761.743 676,558 Roslted Funds Re5triclgd Income Fund Reslricled Fixed A55et5 Fund lotol ROn¢t•d Funds 167.021 23.125 190.146 509.(J)I 11.255 520.256 TOIAL FUNDS 951.889 1.196,814 These financiol slotemen15 ore prepared in accordance wtkh the speck4 provisions of Port 15 of the Comparues Acl 2(K16 relating to small componies these finanaal slalement5 w&ie opproved by the board on 9 May 2025 and 5iwed on behalf of the booid by Katherine Bfeuley Choir
CORD GIOBAL STATEMENT OF CASHFLOW Y•ar Ended 31 D•cemb•r 2024 2023 Co5h provlded by oputlng ocllvll•s 132,4951 248,714 Cash vlsuisèd by owalin9 adv4ili•s Purchase of tangible fixed as5et5 Proceeds ol sole of lan9ible fi'xed assets Interest recaved 120.5681 2.109 19,9891 16,290 917 117.3471 7.218 Change in cash and cosh equivolents in he year 149.8421 255.932 C05h ond cash eqvivolents ot the beginrung of the yeor 7.073 555.468 Change in cash and cash equivolents due lo exchange rale movement 146.1841 128.3271 Total co$h and cash equivoltrnts at the end of the yetx 687.047 783.073 Reconcll(thon ol net IvennI In lunds to nel cosh Ilow from operallng ocllvNles Net movement in ftjnds AdJuslMent lor Interest received 1244.9251 260.752 Depreciation ch(Kge Gon on disposal ol longible fLxed assets Decreosellincreasel in debtors Decrease in creditors Unreolised losses on lorelgn currency el cash provided by tsperoling octivities 17.409 12,ICFI 154,422 12,3641 46,184 132,4951 17.524 115,2471 115,1601 126,5651 28,327 248.714 Anaty5 ot cash und cash •quivoJ•nts Cash in hand 687,047 783,073
CORD GLOBAL NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 ACCOVNTING POLICIES The principd accounting policies ttdopled. judgements and key SOue$ of es11maln uncertalnly In the preparolbn of the finoncial slotemenls are a5 follows.. Basls ot pr•paratton The Inanciol stgtements have been preped in accordance wilh Accounting and Reporting by charit5.. Slalemenl ot Recommended Practice appllcable lo charflies preFrtJring ther occovnls in aCCdanCe with thg Finonciol Reporting Stondord opplic<Jtle in the UK ond Republlc ol Ireland IFRS 1021 lelfeclive l Jonvw 20191- (Chorili95 SORP IFRS 10211. the Finonciol ReFX)rting standord applicable in the UK and Republic of Irelond IFRS 1021. the Companios Act 2CQ6 ond the Charities Act 2011. Cord meet5 the definition ol o pU1C beneffl enlify under FRS 102. A5set5 ond liabli ities ore initiafiy recognised ot historicol cosl or transaction value unless othewse slated in the relevont occovnling policy notelsl. Fynd aecounllng Generol vnr•sII•d fvndj are fund5 available for use al the ¢Yiscretion of Ihe Board toward5 achieving any chorilae purpose that Idls wllhin Cord's chariloble objgcts. D•slgnotr•d unr•slrkl•d lund3 include re5eTvei invwted in lo¢ed auels or amounts sel agde by Ihg Board from LJnre5triced ftjndng for specific Ivlvre pvrp05es. ReIe£l funds ore those funds subject 10 Specif condtion$ imposed by donors. Al the year-end any fund defici15 are mcintained onty when the Boc¥d e ol th& opinion Ihot 5v¢h deflts wll be eliminoled In the sh¢J lemi. Income Income recog)ised when the charity ha5 entitlement to Ihe funds, ony perfomonce conditions attached to the itemls) of income have been met, il is probable that the income wll be receed ond the omount can be measured reliably. Grantlncomè Gronts ore accounled lor as the right lo consKlerotb)n is etrned under the temis ol the grant. When income 15 recewed in odvance. its recognition ts at the dale received ond deferred income Is shown in Ihe reslrictred ndS bolonce carried ftsrwards. When enthtlement occurs bef(xe income 15 receNgd, the in¢ome ts occrued. L•gucI Legacles ore recogni5ed in the accoun15 when legol entitlement OCCLfg. Wheie noliffcafr'on hos been recgpigd (x a legocy h[ been received oftrer the accounting year end ond it is clear il has been ogreed by the persond reprtrsenlolives prtor lo the year end it is inclvded within income and accrued within deblors. Expendllwe Expendlvre 15 accothted for on an accrua15 bay5. Fundratsing costs Inclvde Ihe salaries. rfire¢t expenditufe and ovethead costs estim(yled to svpport lund4ttising oclivilies. ExpendiluTe in the UK 10 5UPWrt the moin objects ol th8 charity Lye shown seporolely wiINn choDtolJe expenditure. The basis ol opportionment of UK expenditure lo the principul exp&ndilure hetsdings rellecl Ilme and res0CeS expended c*'re¢lly on various aclwilre5 or in svpport of these aclÈvilies. Grants poyable Grants poyae cre accounted lor when the recipient has a 0$Onable eypeclalion that they will receive the gronl ond any condillons ottoched lo the grant have been Ivlfilled. Ovwseo$ op5 The Finonaal Statement5 consolidole the Income and expendtFure of the overseos ond UK op8rations. D•blorJ Debtors ore measvred on the basi5 of their rgcovèroble amount.
CORD GLOBAL NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 ACCOUMIIIIG POUCIES {CONfD) Credllors Cieditor5 ore recognised where the chorify has a Present ol90110n resulting frtsm a posl event that will probably resull in the transfer of funds to a third party and Ihe amount due to settle Ihe obtigofr'on con be me05ured or estimated reliakJy. Crecllus and provisions ore recognised at th&r selllemenl amount. Fixed Assets and Depre¢kJMon Fiyed A55et5 ore 51aled Ot historic<4 cosl less depreciation. Assets ue capitabsed rf Iheir valve exceeds £l,(KK). Depreaotion is provided on a straight line ba515 in ordei to write off the asset5 over their estimated useful lives. The percentages used ale shown in note 7. fn Cwren¢le5 Transactions in foreign cvrrencies ore tronsloted ot the rate of exchange rUlg on the date ol the transoction. Monetory ossets and liobilities denominated in foragn currenc$ lye revolueé ot the yecx end rote of exchange. Drfference5 arising on exchonge have been ieflected in the occount5. Penwon5 The chJity operates a defined conlribvtion pen%on scheme. The penOn r05ts chorged Sn the financK4 slolements represent thg Contributio paYae during the yecT. Taxallon The company h05 chorilob4e slolus and. therefore, is not liable to tox. Al UK VAT is attributed to ils Ihe ol expenditure and connot be recovered. Vidvntews Certoin work in the UK office is vndertoken by volunteer5. who gre ol thar Ilme free ol cost. This is ol immense benefit to the orgorS011oM, porticvlorfy in the tsreo ol pu1tY ond adminlstrotlon. The fhancial implicolion ol this volunlory contribution is not reflected in the flntsncial statements. Renta15 poKI vndei opeialing lease are charged lo the Slalemenl ol financial ActwitW5 on o stiaight line bcjsts over the period ol the lease. Legal Status ofthe chorfy The charity 15 o compony limited by guorontee. ho5 no sh(Je cotmtal und is iegi5teied in England and Wales. The compony'g registered number ond regigt¥ed office con be found in the Bocyd's Annvcl Report_ Ftnunclul Irdtrvments The charity only ha5 finoncial assets and finonciol liatxlities of a knnd that qualify as bo*c finonciol instruments. Basic finandol insttuments are initKJlly recognised at transaction vdue and subseqv8nlly MeL at the settlement valve. Cthcal AccovnNrtrJ EsNmoles and Judgements To be oble lo piepore finonciol slalements in occordonce wilh FRS 101 the chority must make certain gstimale5 and judgement5 that have on impocl on the policie5 ond the amount reported in the annual accounts. The estimote5 and judgement5 ore based on historical experiences ond othei foclor5 including expectolion of futwe events that ale believed to be ieasonaUe at the lime such estimate$ and jvdgemen15 are made.
CORD GLO8AI NOTES TO THE ACCOUNTS {CONfD) Y•ar End•d 31 D•c•mber 2024 UN•sM¢t•d R•shIcl lotol Fvnds Funds Fundj 2024 Totd Fvnds 2023 2. DONATION AND LEGACY INCOME Indlvldvols 176.558 176,678 216,960 Churche5 12.613 12,613 18.518 25.732 Corporates Tnjsls 18.518 18.493 13.000 176.178 13.Otx) 176,178 396,?87 25.500 50.984 337.669 Legocies TOTAL DONAIION AND LEGACY INCOME 396,867 120 UnrÈ51rfcled R•th*ted Tolal Funds Told Fvnds 3. INVESTMENT INCOME Funds Funds 2024 2023 Bank and building society depo%1 inleresf 917 4. GRAMf INCOME Unrethlcled Funds ReslTlcted Total Funds Total Funds Funds 2024 2023 European Union United Nations Peattbuilding Fund 5wtss Agency lor Development tsnd Cooperation US Department ol Stale.. Bureou ol Democracy, Human Rights and Lobor Office of Internallonal Religiou5 Fréédom Magnity Fovndollon Devlsche Gesellschaft for Inlernotionol Zusommenubeil Dutrch mIntry ol F(Yeign Alloirs UK Forwgn. Commonweollh ond Development Office Olher TOTAL GRANT INCOME 393.141 142,183 329 377,609 377,609 213,788 778.431 213,788 15,(MXI 287,681 21,262 27.879 2,551 15.000 15,OCO 287,681 24.112 271.962 2,8X) 27,879 85.78Th 1,031,850 83.230 3.930 1,604.976 86,080 945.770 Analyjts of grants r•cefved Women & Girf5 Empowerment Clinotè Change & the Environment Economic Empowermenl Fundomentol Freedom5 Supporting Stronger Sociglies 17,216 17.216 17.216 186.336 180,047 3,095 242,212 334.080 203,552 197.263 20,311 259,428 442.358 371,504 110,149 17,216 17,216 86,080 291.938 351,296 389.028 945,770 1,031,850 1,604.976
CORD GLOBAL NOTES TO THE ACCOUNT5 (CONfD) Yeur Ended 31 December 2024 S. OTHER INCOIAE Included wilhin other income 15 consultancy fees. sun(*y income and Income from the Sale of ossel5. 6. TOTAL RESOURCES EXPENDED Gronts Support Cos Total Costs Poyoble 2024 2023 Fundiol$kng Fundraising and publioly costs Jndrai5ing tradin9'. C05t of good5 501d Subtotral Fyndra131ng 105.168 105.168 112.245 388 105,168 105.168 112.633 Dtrect Charflable AcHvlly Women & Girls Empowerment Climote Chonge & the Environment Economic Empowermenl Fvndomentol Freedom5 134,492 128,745 1.428 216.444 219.777 91,234 91.234 1.589 55,982 229.468 125,759 81,346 55,492 59,283 44.645 351.485 301,325 58,509 331.709 493.890 536,308 346,937 238.395 252.861 190.451 Svpporling Stionger Societie5 Subtotal Dect Charilable ActlvHy 700,880 469.507 366,525 1.536.918 1,564.952 Tolol •xp•ndlvm 700m6 469.507 471,693 1,642,086 1,677.585 Gton15 payable include grant payments lo 33 institulk)ns and giantees12023'. 17 inslituN¢Jnsl. The names ol gront reciplents are not disclosed due lo exemption on the grounds of serfous prejuclice. Support Costs alloctsFed 05 follow5.. 2024 21>23 LeodeTship Progromme5 Operalions FundraIng 95.193 97,493 173,839 105,168 471.693 72.547 112,531 199,723 112.633 497,434 NET INCOMEIIEXPENDIIUREI FOR THE YEAR Ih1515 slated after charglng- Operating lea5es- land and buildin9S Operating le05es- equlpment Audit lees Gavis on cfisposal ol longible Ilxed ossèls DekKecialion 20.134 234 20.131 7,800 12,1091 17,409 5,7Ce 11 5,2471 17,524 Trovel eypenses lolelling £193 wgre paid lo Iwo Iruslees in the year12023'. £96 to Iwo trLJStee l. Indernnily inSLrance paKI by the charfly tololled £24412023.. £2441. No Iruslee received remunerolion. There were no r81algd porty transactions in 202412023.. £Nill.
CORD GLOBAI IIOTE5 TO THE ACCOUNTS {CONfD) Year Ended 31 December 2024 STAFFING UK Stall stoff 2D24 2023 Salaries ond wages Employer noth)nol insvrance Employer UK pengon contriixjtion 325.847 28,223 19,341 373.417 346.888 672,715 28,223 681341 27.047 19,347 720.305 18.700 346.888 728.088 The average number ol employees (lull lime eqvNolent51 wa5:_ 2024 2023 UL. fUndraIng glaff UK.. other slofr other counlrfes.. intemolional glaff Other covntries.. natn01 staff 14 25 28 No member o151off recewed emoluments more than £60,(XK). Penon costs ore ollocoted to actlI1e$ ond ILnds h proportion to the reloted staNrng cost5 incurred. In 2024 ond 2023 the key management tecjm ol the chority comprise the Iruslees, Chief Execvlive Officer cjnd Head of OperotB)n5. Thg total employee benefits ol the key monagement personnel for the chority were £131.51012023: £126.1351. 7. FIXED ASSEtS- IANGlbLE Eqvlpm•nl Tc4al V•hkles COST At l January 2024 Additlgn5 85.082 20,568 116.8651 88.785 33.533 118.615 20.568 116.8651 122.318 Disptssals At 31 December 2024 33.S33 ACCUMULATED DEPRECIATION At l Jonu(Jry 2024 Chorge for periocl Disposa15 At31 December2024 71.2 10.488 8,551 6,921 79.784 17.409 116,8651 64,856 116.8651 80.328 15.472 NEI BOOK VALUE At 31 December2024 23.92? 18.061 41,990 NET BOOK VALUE At31 December2023 13349 24,982 38A31 Depreclallon Rules 2070 . 337. 20%- 33%
CORD GLOBAL NOTES TO THE ACCOUNTS (CONT'D) Year Ended 31 December 2024 8. DEBIORS 2024 2023 Gronl & NGO grant d8btots Olher debtors 231.Bl 19,777 16,031 247,624 386.3 7.291 28.405 Prepayments & accrued income Total D•bto 422,0 g. CREDITORS. amountsfallng due wlhln one y¢or 2024 2023 Giant credilors 4.095 31400 8.277 23.606 14.593 8.937 47,136 Generol credilors UK taxes and social secutity Total Credllors 10. OPERATING LEASE cowlTENts MiThrnum le(e payments under norFcancell(xtAe operating le(xes fall dve as follows 2024 2023 Expiring.. INilhin one year Between two and five years 13.727 15,783 960 14.687 ié.821 I I. MOVEMENTS OF RESTrICIED FVNDS Baknnce at Mo¥•m•nts In R•sovrc•s Balancè at l Jun24 onts Qlher Income Expended Tranthr 31 Dec 24 Women & Gills Empowement Climate Change & the Environment Economic Empowerment Fundamentol Freedoms 80.940 78.545 1.736 71398 86.336 180,047 3,095 242,212 334.080 945,no 1250.1201 1234.4561 110.4571 1294.9611 1490.5851 11.280.579) 11,4581 11,4581 11.4581 15,698 22,678 17.0241 18.191 Supporting Strtsngei Societies lolal Rejhkted Gran1$ Funds 275.382 509.001 11.255 11,4591 17,2911 IIB70 17,478 167,021 23.125 120 Restricted Fvxed Assets 520.256 94S,770 120 (1,280,579) 4,579 190,146 Wompn & Ghts Empowennent Challenging gender ineoJality and supp(xling women human right5 defenders lo piomote just and peaceful societEs. Clmate Charye & the Envtronmentr. Bulding Ihe capacity of local and lndVJeno PeO[e groups to protect ther land through trainwig netwofft buldng and engagement with privote sector and govemment ministries. &npowering communitie5 to save money collectively and invest in their own bu5ine5ses. foolitoting a strift from o victim mindset lo a sense of empowerment over th[ own full8. Fvndamentol Freedom5: Improvlng the knowledge ond opplicotKJn of hvman rights including freedoms ol religion. bdTef. and eypresslon and chamyoning the rights ol maignoli58d srovp5. Supwllng Slronger Soclelle Strengthening civil society le<xlers Ihrough Irainino. mentorship. ond nefviorks lo use their voice to brin9 meaningtvl ch(Jnge in their communih"e5. Engoging Powefholders ond enhCIng their obilily10 9ovein ond collaborate ellectivelywith ¢ommvnitie5.
CORD GIOBAL NOTES TO THE ACCOVNTS (CONfD} Y•ar End•d 31 D•c•mb•r 2024 1 I. MOVEMENTS OF RESTRICTED FUNDS {CONfD) Alovements In Rejources lJan23 Grants Olher Income Expended Trunsl•r 31 D•¢ 23 Restricted funds Resti?cted fNed assets 173.763 14.960 188,723 1.604.976 17.537 11.295.0491 13.7051 (1.298.754) 7.774 509.001 11.255 1,604,970 17.5J7 7,774 520.256 12. VNRESIRICIED FUND5 The cvrrency exchtsnge gains Inel of losses) incurred in the yeor hcwe been set aside in 0 58porole designotgd fund. The fijnd hos been set up os part ol the rfsk management strategy of the rygonisotk)n. in order to negot8 thg possible fulure impact on Ih generd reserves ol the organlsallon due lo exchange rote N(JctuatKJn5. Innovatlon Fund (previously mInPilo1 Projeeli Fundl hcs been estal$hed lo lacililale specific projects and aclwilies Ihol olrectly contribute to Cord achieving ils slialeglc priorities. Devdopment Rjnd has been sel up lo proVe financing lor an operotK)nol systems improvement project. Progamme Fvllfli Imenl Fund hos been sel up as part of the rbk monogement strategy of Ihg organi5ation in or¢Jer to enwre Ivlfim8nl of commilled MultYear progrommes. A seporale deggntsled flxed assets fvnd is u58d to occount for ossels that are vnrestrfcted in their purpose. wh8r8 th8 055ets Ire the lom of tonglble a55els. Balunce al lJan24 Alov•m•nts in R•sourc Daknn¢• al conln9 Expended Tronsler 31 Dec 24 UrYèsMctèd Funds Generot ndS 545.715 497.455 1354,5911 152,7091 635,870 D•signul•d funds cUenCY Exchange Risk Management Innovation Fvnd 146,1841 46.184 1231 40.000 41.198 48.137 Devdopment Fvnd Progomme Fvllfillmenl Fund Deygnoted Xed Assets Fund 15.130 IS.130 10.680 10.680 18,865 761,743 27,576 674,SS8 497.455 (407,691) 14,579) Bolanc• at Movements In ReJovK•s B¢Aunc ol lJqn2J Inc<Thing Expended TronJler 31 D•c23 General unreslricled funds De51gnoled funds 569.904 177.435 344, 151 1346.3571 16J.8011 (407.158) 121,9831 14.209 (7.774) 545.715 130,843 676.S58 747.339 J441S1
COID GLOOAL NOTES TO THE ACCOUNTS (CONfD) Year Ended 31 December 2024 I& ANALYSIS OF NEI ASSETS 8EIWEEN FUNDS Tanglble CuThent Totol Ass•ts Resthkl•d Fvnd5 Restricted Gronts 167.021 167.021 Reslricled FiKed Assets used in projecls 23,125 23.125 23,125 190.146 167.021 Unre>trkted Fvnd5 Generol Funds lundesignaledl De%gnated Currency Risk Ivlonogemenl Fund De%gnaled fixed As5els Fund De%gnaled Innovolion Fund De%gnaled Devdopment Fund Degnated PrOaMMe Fulfilment Fund 635.870 40,000 635,870 40.oc 18,86S 41.198 15.130 10.680 18.865 41.198 15.130 10.680 18,845 742,878 761,743 Overol Funds 41,990 909,899 951,889 Sufficient resowce5 ore held in an appropriate form lo enable each fvnd lo be apFAied in accordance the restrIK)n$ imposed. 14. CONTROiUNG INTEREST There is no oveioll conlrtslling interest.