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 & n￿1$10￿ Cord's vi%ion Is ol a worfd where all people Irie in the fvllness of peoce. having the freedom to flou￿sh ond Iw8 frgè trom fear. Our mission is lo translom cty51unclional relationships between indvidvols and communitie5 and thos8 holding power into Po￿tr￿e 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. Ob￿ctIveS 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 f￿her 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 beI￿ve 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 p￿SpeCtiveS 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 Increas￿glY not￿nalIstIC, 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 ch0￿e in mony wch sllualions is lo accenlvale dillerences, ylching one group again51 another and creating ￿$tance between them. Thus enatjes us lo conceptualise people os 'lhe other,, 'Ihe G￿ern, u'th05e who are not like us,. Sowkng todgy for a brfghter tomorrow At Cord we bttlieve that this approach is one that not only hurts others bul hurts ourselves. Bul Ihen how do we respond when we lace these challenges, and division is presented 0$ 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 Me￿￿ting 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. B￿ld 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 ￿MIlant￿5 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 cc*nmitment ond inspired lo continue to joumey with us. Ovr hnpacl In 2024 In 2024. C(xd worked alongside and sUPPOrted some incredit￿e 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 eqUip￿ng. 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 peO￿e through 625 cooching sessions. 36% or the trunkig ses5ion5 focu5$9d on FundtsmentL4 Freedomg & Humon R￿jhIS, such os Freedom ol Religion or Belitrl IFORBI 01 Land Righls. 28% looked ot peo¢&building approoches such as nofvviolenl COMMUn￿allOn and conlllcl sensilfvlly.15% locussed on develotxng orgoThsolional capacity lor partner5 and 12% on Safely and Security. Throughovl the year C(Yd worked directty with 867 Humon Rlghls Defenders IHRDSI across all our conlexls, vAlh 67% of those being Women Htxnan R￿JhIS Defenders IWHRD51. Cord's emFfia%s on strengthèning local partne￿hIP continued. with cfirect gvpporl provided to 30 Civil Society Organisations lo ompmfy thelr a￿li1Y lo deliver impact in the ¢ommunilÈs where Ihey wotk. These organlsalions introduced 39 new policies wilhin their OTgani5ations 09 parl ol Cord's work. Small gront fundng lo locol partners v4hich enables more context specific progomming increased in 2024 wlh al le05135 gronts123 in 20231 made lo 33 organisalions117 in 20231. This wus 30% more than the yevious ye(x, increa%ng local portner granls to £469.5071£361.695 in 20231- representing 30% 01 Cord's tolal expenditure in 20?4. Our thretrslrond 51rategic approach continued lo be embedded in CoTd'5 global programming in 2024. Enabling tivil sottety to engage consfrvctNely wlh Powerholder5 and Locol AvthoritEs remoR)ed a priority with 24 engagements 5UPPOrted. resulling in 18 new polries being implemtrnfed. In oddition, 42 space5 were creoted lo locHilale connection ond relationship building with 973 people participating includng 290 Human Rights Defenders ond Cwil Society members. Cord's work in 2024 continued to be oligned to 5 globol progamme theme5. The58 are detoiled bèlow". l. Econon4c Empowermentr. The ideol of peace is o di5tont concept for someone slnjggling lo fegd their fomily or send their chiklren to schod, whli e in8quolity is often o driver ol conflict ond can fuel onwxng ten*ons. Cord is empowering communilies to S(Jv$ 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• y￿1 •ndlng 31 Decen*)er2024 (conyd) Achlevem•nts and erf0m￿nCe conyd 2. Women and Gk15 Eww•m*nt.. Women's eqLAlable involvement in dttci￿on moking is essenlid lo sustoinobte peace. Cord hollenges the loot Causes ol gender inequality by oddressing the Struct￿01 issues thal keep women ond gids from oc¢essing thar rights. We support women human fohts defenders to gow th￿r confidence and crecSlJ"lity in mol&dominated space5 and engage men and boys in communi1￿$ to chollenge stigma and Prejud￿e. OLK WOTk enwres women ond g￿S 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 V0￿e$ through collective network5 and constructively engage wrfrh powetholders svch 05 mIAt￿national 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<￿11￿5 ond communities tu improve both the knowledge and opplcolion of hvman rights lor all. Our opprooch encourages open and frank discusyon to breok down b￿Se$ and fOc1￿101e 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. Fundra￿n9 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 l￿d 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 ¢hc*ty can meet all it5 obligations. At the end of 2024. the Ch￿tY held free re5etve5 01 £636k12023.. £546kl. The Boord conyders that an appropriate level of reserves for the Cha￿tY 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 Con￿derS il neCe￿ary 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 £636k12￿23'. £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 Min￿￿10t 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 remc*n 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 Bou￿5 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 e￿erience 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 Out￿￿e 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 con1inuov￿Y improve these p(Ttnei ieloti¢nships $0 as to be recognlsed as o partner ol choice for local organi5ations. We will seek to achieve thig in 2025 throvgh a refreshed portn8r5hip5 approach that wll bè developed in consultation wth C￿d.5 Portners and sloff. In 2(Y25 Cold wll continue to owote wilh teams in BuLmdi, Cambodio, Myanmor ond Loos whilst remaining agile (￿d adapting to chonging environments and inclvdw)g Vietnam. the Phllwnes, Thailand ond Ugondo. Our reg￿n01 strc*legi&s in Sout1￿East A￿a and East Ahica wll also support the conthued exploration ol new countries in wlich Cord can moke o dfference. Thiougholrt 2025 the development ol Cord's pectcebtmlclng OPFKoach will conlinue a5 0 strotegic priorty. fvrther equpping tearn5 t￿d partneis to vtllSse lods and appr¢￿the$ to plant seeds ol peace in conHlct-oNecled countries. Following Ihe introduc1￿n 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 Ch￿1¥ 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 adv￿Ce peace ond reconciliation among peO￿e 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 ￿n￿here 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 I￿ther 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 responsi￿e 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 Ch￿tY 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 w￿h 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 le0de￿hIp Teom, led by the CEO. The Board regLAarfy review5 the financial stolus ancl progress ol the orgoni50tKJn's work. The Bocyd hos a Finonce SUt￿cOmmIttee which revie and monilots finonce, o Programme Development Sut￿COMMIttee 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 su￿ComMIttee meet5 twice per year to review these risks cnd the mitigation plans. Internal ri5k5 are minini5ed by the ITn￿ementallon of control procedure5 foT dl financial transact￿n$. 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 sIgn￿can1. 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 eqVitOE￿e pay. Thls k demonstroted by a con515tency in aF)proach lo iewards acros5 the organisolon regardle55 01 location, nolDncrfrty and role. l All￿lable Pay- Cord is a relatively smoll chority and people costs are o ggnificanl investment loi the organ￿OI10n. 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 organiSat￿n. 4. Vtsluè for money 5vPPOrters & donors - Cord prideg ilsdl on our opproach to our work being good volue for money. We octhO￿edge 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 organ￿alK)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 representatr￿e5 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 Enter￿tse 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 reSpOn￿bIe 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 financ￿￿1 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 choiitoL￿e 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 I￿geMentS 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 InapprO￿ale lo presume that the chcxitO￿e 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 ￿egLI￿ritEs. 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 Independ*nl 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 OppI￿OtiOn 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 reSpOn￿bIlItieS 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 respon￿bIlItieS 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 iden111￿d any moteriol uncert re3ponslbltlles lor the ovdll ¢1 th• finonclul slal•m•nts {corWd) Because of the inherent limitations ol an c¥Jdrt, there is o r￿k Ihal we w￿1 nol detect oll irregulorilies, Includlng those lets*ng 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 $talemenls, as we will be less likely to become cwore ol instance5 01 non-compliance. The 15 rlso greater regarding iregulorilies occvrring due lo fraud rolheF than etror. os froud invdve5 intentional conceolment. forgety. collusion. Omis￿on or misrepregenlalion. A further description ol responsibilitleg IS ovailable on the flnoncial Reporting Council's website at.. https'.1lw￿.frC.o[9.VklIIt*0rylsIanda[ds-cad￿S-p0I1¢Y10udit-OSsur0nCe-c￿d- elhicslavdilors-respon&bililies-lor-Ih&auditl#description-of-the-auditor5-iespon&kn"liIies*loi-lhe-QUdIt-0f-lh￿flnonCIQl4to1eMents- ae117638. This description form5 Port of our ouditor's reporl. We communicate with Ihose charggd with govgrnonce regaiding. among olher mallers, the planned scope ond liming of Ihe oudt and 5KJnificant audttr findlngs, inclvding any si9nificont deficignci95 in intém conlrol thot we identify during our ovdit. ils• ol our r•wl Th￿ report is made solely to the chorilable compony's members. 0$ 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 L￿mited 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 Fundrai￿n9 and publicity c05t5 FUndrai￿n9 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 I￿64.952 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 Cl￿1*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 T￿nsFerbelween fuftds 128.3271 17,774} 128,3271 24.151 7.774 N￿MovEmENT 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 unrts1￿Itd Fund$ 12 GENERAL FUND De%￿ated Funds.. CLvYency Rlsk Monagemenl Fund Designated ￿ed A$5et5 Fund )novollon Fvnd Programme Fvllfillmenl Fund Development Fund 635.870 545.715 40.000 18.865 27,576 48.137 41.198 10.680 15.130 15.130 761.743 676,558 Rosl￿ted Funds Re5triclgd Income Fund Reslricled Fixed A55et5 Fund lotol RO￿n¢t•d Funds 167.021 23.125 190.146 509.(J)I 11.255 520.256 TOIAL FUNDS 951.889 1.196,814 These financiol slotemen15 ore prepared in accordance wtkh the speck4 provisions of Port 15 of the Comparues Acl 2(K16 relating to small componies these finanaal slalement5 w&ie opproved by the board on 9 May 2025 and 5iwed on behalf of the booid by Katherine Bfeuley Choir CORD GIOBAL STATEMENT OF CASHFLOW Y•ar Ended 31 D•cemb•r 2024 2023 Co5h provlded by op*utlng ocllvll•s 132,4951 248,714 Cash vlsuisèd by owalin9 adv4ili•s Purchase of tangible fixed as5et5 Proceeds ol sole of lan9ible fi'xed assets Interest recaved 120.5681 2.109 19,9891 16,290 917 117.3471 7.218 Change in cash and cosh equivolents in *he year 149.8421 255.932 C05h ond cash eqvivolents ot the beginrung of the yeor 7￿.073 555.468 Change in cash and cash equivolents due lo exchange rale movement 146.1841 128.3271 Total co$h and cash equivoltrnts at the end of the yetx 687.047 783.073 Reconcll(thon ol net I￿ven￿nI 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 SOu￿e$ of es11mal￿n uncertalnly In the preparolbn of the finoncial slotemenls are a5 follows.. Basls ot pr•paratton The Inanciol stgtements have been prep￿ed in accordance wilh Accounting and Reporting by charit￿5.. Slalemenl ot Recommended Practice appllcable lo charflies preFrtJring ther occovnls in aCC￿danCe with thg Finonciol Reporting Stondord opplic23 LeodeTship Progromme5 Operalions Fundra￿Ing 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. fUndraI￿ng glaff UK.. other slofr other counlrfes.. intemolional glaff Other covntries.. nat￿n01 staff 14 25 28 No member o151off recewed emoluments more than £60,(XK). Pen￿on costs ore ollocoted to act￿lI1e$ 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 cow￿lT￿ENts 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 full￿8. 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 letrkted Fvnd5 Generol Funds lundesignaledl De%gnated Currency Risk Ivlonogemenl Fund De%gnaled fixed As5els Fund De%gnaled Innovolion Fund De%gnaled Devdopment Fund De￿gnated PrO￿aMMe 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 restr￿IK)n$ imposed. 14. CONTROiUNG INTEREST There is no oveioll conlrtslling interest.