Cord Glob¢A (A comptmy Ilmtied by gualUeeI Annual R•port and Nnancld Sl+Jlement5 Y•ar endlng 31 D•c•mb•w 2tr25 Chathy Trumber 1070684 Company numbw0354611?
Cud Gbal 4nhuul r•wllrylh•y•ty •ndlrJ 31 D•¢•mbw 2025 Ow vlr>n 1 mkn5kn Cold's vI5K>n ol o woddwheie dl peopk Ir¢ein the fvllne55 ol peoce.. hovwig Ihe freedom Iv Ik>w5h ond live ftee from fety. Our lo lio051orm dYsn¢t10ft loh)o5hIps between in(fvkluds UKI comrnunihe5 arvj those Dower into p0911ve ond Ihriving rdatlonship5 bimhon rrvJlud d&penon¢y t$1. Cold's YLwon 15 a wfbwe pecK is reol5ed. We wort lo be an effecfivo pThr lor peoce in Alrfca and la by woikin9 ili socletss ofte¢te¢J by Yiolenl confiici and pove(ty. developlng the copocity ol to buikl sv51unoble peoce. Oblo¢11¥ In accwdonce wilh ryAYip1&5and osan ty8sslon of the Chrfslkjn falh.. l. lo odvor¢e peoce ond ieconcli alion omono peopl? anyhere in lh8 W, by meons indu¢Jno It1 not firTiled lol DLldng rètrJfjonshps. Iron0 ond eqiAprxw arKI creubw 5poces lor diok)gue'. 2.10 we¥1 (Jid releve poverty ¢rnno people onywher& in the wotld bymearsinclu¢Jng (but notlirrfled lol oddresskng inequalties. odvanono lundomenlal Iteedoms. crealw)g suslolnotleincorr. orKI bung clmole rwilence.. 3. 10 fthher5ucn olher purpose5wlyth rY be choDlgtd8 corthg to Ihe lawof Enilond ond WcAe5 as the Iw5tee5 see 1 lo The Bocxd ielerrÈd lo Charily ComrTrssiw'5 gene donCe on pIC bentrfil when rewewno ond objeclr¢es and in ovr luhKe aclNlliés. In Ihe folr pa9es thi5 rep derwrstroles Ihe rAJIC b&nofi1 of our work and h¢)w we hove worked toworth Ce+d,>$01È9 ¢wn5. v0hS and oper0) thcWo1 W• oi• ¢4)mpoithnal• and nuluie oueIe$ o deep concern for w lelbw hntsm bcw)gs who are nol Ibl$ming. kni5 t be xwessed IoWords. wè e00rd ltri5 is besl demor15holed in pYaccd aclion. We vakt• ew¢n• orKI recognl>e knl 8Yery hwnan creol¢d vrmque and 5pecwJl. We Ih¥elore pbce •eol value on every humon Its being WchY ol dignity res¢1 th. Al people h)v8 tvn(knmenlLq fi0hiS Ihol thDuW be wolecled - irrespec1e ol geD(i. e1hn[ty. age. slalu5. religK¥) or sexually. Thrsin¢lv¢1$5 those who ore caUt up In oprKesslw syslgms and behQwOUtS. W• beleve In tho poww of ielaNon5hiw know Ihal communities K4 50cY&tie5 w(xk besl wtEn strorvJ arKI lIhY inlerdèpendenl relohonships ai& Iofmaa. By ackno1ed9nQ our corfft¢ledne$5 and sh(Yed hum11¥. tKJriiet5 tsoken down. people can begn lo usl cndcholleDgBs con b& Ovtyycome. We •xpkn¢ the r0otcavof¢Onf1c1. Mon9 b&yo)d effecls lo wderstand en cknvers ond sustairwJbk 501ulon5. Giqnl mokfjng po¥ As porf ol cOng oul some pic4ects. Cord mokes gronts lo NGOS vrt)w8 the lMhe% of Iho NGO ffls with purp05as ol Ihe Cord pro9iamme. The omoth)l purp058 ol a gianl is sel ovl In a partne15hiD o¥eemenl be88ft the hyo 90lSh0ns. Ihg NGO 15 requSred to rep bock lo Cord expenolur& alrE1 budget and on pttsortrs$ 1oword5 othec1e$.
•oards onnual rePtlthOveor•fit1no 31 Decembu 2025{conrdi
A R¢)lorc¢)ashw
When osked 'wh)I wc$ 2025 Ske tu Corcl¥'. l oftèn il as a roNercoasl8r ride. 11 yecx ol ond Iow5. unexpected
rysls oncl Irn$. Forcul(•ty in the fit51 ol Ihe year. 11 a150 fell Ike we were goMg ul breokneck speed foy much ol il. Slepwg oll Ihe
roleref)osler ol the end ol the year. Ihere wos an ovemIng Sènsè of Ihu)khJlness thol Cord wtss 51111 rnong Ichward sleodily
puwin9 oui mtssvjn ol pee in Ihe lace ofsyn1k(l chalnge ond uph8awal.
Th8 year began in Jonwry lh¥ 4onlfl¢ont ImpJct ol the new US AdrYNnislralion'5 revBed opryooch to inlemalond devdopmenl
funding. Thi5 impocled Cord dreclty os oll our US fvnded piciec15were paused wlh immedole emecl wthoul any advare waffn9.
In lh& te ol those fundlng cul> In Aprilw lolrrhed a fun¢trav9 crjmpobw with C¢Yd's commitled SLPPOrter5. We were w away
by the [erI0b genero&ly ond the ffessoge$ ofsolQarity and 5UPPOrt Ihol we received in response. Thls ¢ompcign become the rn1
SVCe8ssI lun(trciSing oppeol we in retentyears. AnIncr1tAe high.
We x&wuenNy hod 4 US furwjed projec15 Quoss Myonmcr. C(¥TtsodvJ. La05. tnaM on¢ Tholond lermnal0¢ o re(Jclpon in
func5rvJ ol over 52 on. More pain1u1 we hod lo end &t$I pners. lose So volutrd stalf membw ond slop ourwoth Fl
cOmmni11&$whO COnlin loneed ow Support. An Incredib tow.
However. kn Jwe we fowd out thgt o grfiCant lundng coplolEty) to SIDA ISwedK5h Inlernolional Developmenl Cogperalion Agencyl
hocl been successf enOt1)9 vs with Erikshialpern lo Swedish CMslion lollPrbosea chi Rvjhls ctrM)Atyl. lo (J new
preor¢nm& inlegating Ctyd's reac8bul¢thno
Ctrfd Gknbtsl
booids r•pryll4¥lh•y4ry•Ddlng 31 Doc•mbw2025 l¢erfdl
C¢yd's Ihretrslrond aprKotth was lh2 guide l
Cud Gbal Botyrfs unnwli•porlforlh• y•or •ndtnq 31 DK•Trw2025 . Worn•Th and G$ EMp•1M9ntr. Wornen's eqlable In¥ement In (lgclsknn rrK)klno b essent lo sudalrnb peoc&. ctsrd Clnge$ the rool ol 9end$r IneovoEly by oddressing the slwclurol V&S Ihol keep women ond fvom accesn9 thenghts. We support womert humon rfgh15 defen0e lo orow Ihe confidence ond creJblity in rrKJle-(lonynaled 5poces wIe engogifwJ frtn ond tK>yS lo thnge piqu(fjce. Our woik en5UTes women arKI grfs con reach they RAI polenhol ploy the e5senlitsl iole in txomolngjusl ¢Jnd peacehA soclelbes. 3. rnate Chry & Th¢ Enhknmntr. The chdbnges of clmole ¢hovJ ru8 globol t1 meonirofLIty incoTPOiOte Ihe vrMC&5 01 those most oHecled. Cord is bv1irfing Ihe cowtyly of loecl cjnd in¢Jgenow people Io Dle¢1 Iherf IroTn ¢JeloreslaliCXI. Ii legd logging and unsvsloinoe resource e¥trtsclion. Wè creote ovenue5 for Ihem lo amrAWy Ihar v¢tcs Ihiovgh olective nelwotk5 and constrL1ety engage rx)werh¢lders wch 0$ M1)oi CoMS and govwnrr6nl mlni4ts5 to sarY& ltra5ts onJ tsodiver5ity. 4.$upp¢rfn9 Slvong•r soc11%.. Cord befieves Ihol c> slrong f84Nenl civl soaely. oLqe lo conslwclivdy holJ powathold8rs lo ac¢ouni. 15 vilcl for Ihe effective lunclioning ol gOvemm6nls ond soLiety a5 o who. We w¢xk lo stren9then onu buikl up civil Socie lec¥Yet5 Ihrough trairing, menlorslyp neNYoths In rAo¢8s Yrt)ere the Space for awc 8ngwemenl 151iniled, 50 they can use Iheir VCe to Ing Tneannglul chanw in IheK commwAlies. Our wtst otso engage5 Ihose in power. enhoncing Yn6Yr lo govem wel on edl¢A)orole effeclKvely Mlh cornmunihe5. 5.Fvndam•nlol Fre¢domL Peopb connol fioLNbh in sctiètie5 where Iheir furKlomenlol freedoms aTe ¢Jenied. CL¥d WOTks (Kros5 a range of contexts wlh authorities ond cOMftnIeS to imrrfove bolh kne knowledge orwJ appcoln ol humon lor oll. Our oppiwch èncourages open and honest dlscvssn lo break down bSe5 and locililolt coopewalion befrN££n Iho&e hcAaing diffefing @$. We woTk lo imsyove Ireedtrms ol rdigw. 8x1xe50Tr. Including freedom o15peech. (¥KI chomtxon Ihe rights Of groups mcxglnalsèd due lo cffferenl loclors such as geThJer. ¥thr¥city. ond ablSty. Fha 16Suhs fu tho y8(¥ ¢Jn4 the gluOt4on as o13TSt December 2025 cye sel oth in firyncial 51atements. Ihe btrorcl members con[ thal. in tt)tyrotyrlloft. cpplccblo OCCOvnlino slanthid5 ofKI 51olements of COMee£l pioctlce have been fouowed. Trt lold incotne lor the yeW( £1.785k compared lo £1.443k h 2024. income wos £359k12tr24'. U97kl o dacrgose of IO%on prev ye(Y. Grant Incoms in 2025 was £1.401k I24.. £1.032kl on increase of £369k from the previous yeor. This accounts for 78% tsl CoTd's lolcl Income in Ihts yeor. 11 should be noted Ihol grgnt income amounts ieceived Vithin o £ven y¥ty vary and fvna$ (re regvlorty corrlocl lopNords Ye5. In 2025 the ieslricleo n(ts bcAon¢e ol Ihe end of the year wos £340k 12024.. 4167kl. £illk more Ihon th8 rxevlous yeor. Functroing ¢0515 reFxesenl 6.8% ol lolol expenLfjlure I24.. 4.4%1. m8awg Ihe ¢05101 royn9 fun¢s L4 p10podnaIY Noher thon the previou& y8(¥. A lun<<x5ng re•W look pltscè Qurfn9 thè yeor lo osst55 Ihe eflacWv?ne% of ditterenl stronds of fundi01r0. Folowng that review the doe10 WCK l<en lo ¢iscffibnue some cJspecls of Lmré$iricl8d h)ndroising octh¥ity due lo Ifw loweF ielum on inve5tmenl and to incrwsfr locu5 on deydopino more tr15 and fotndolityns rdolionships. 11 is onlic¥)Qfed 1hol fulLfr Fun(akin9 cosls wl iomaui ralaNvety consisloni wlh previous yectrs.
Ctyd Gbbol
Boord'junnvulreport rorlheyearen¢Jhy 31 D•¢•mbw 2025 l¢onYdl
e¥pncSluié on ¢h)rfIooi& octiwles in YrwI £1.423k12024". £1.537k). CA dCFe05e of 7X. Ofth& exnltUre on ch¢yiloNg 0¢hties
£1.071k ty 75% la)24". £1.17C 01 76%) wos Lthiecl costs forinletnaliond programrns ol whh £266k12024.. £437kl was spenl In ¥onts lo
portner orgonwtiOll5. The rem¢yrNrwJ 25% t24.. 24%) w05 orgoni5olion supp indirect C051s including orgonoI)n
opelolims and wgrotnmè c(Al5.
The W Governmenl hjnding choroes in 2025 ¢vl or¢nl redLred ¢t¢e expenrfilwe 0$ plcx)ned projecl wuk wos r1
)aèrtakèn. NolabTrrf, the lèn9lhy fundiTr) iusp•nsion of dl Cerd's us proiècli olon9 wlh l&rminohtsn ol pr4ecls 9fficonlly
o¢lecS Cord's Thnts)¢es dudn9 Ihe yarKand iaoyirfyd ¢han$£s to prowmmino.
Cord CaThs out a variety tsl lontetm Qr1 Sh-It ryoj&cls. The Boord hos exominecl Iht r&quraments of froe reserves. ale
ttrK>50 uNestricl8d hjnth inveyed in flxed 0ss$1s. deson¢Jled lor Spef PDTPOSe£ u othew5e ccrfnmmed. lo en5UTe Ihal Ihe charity
co) meel ol ils obSgoliors. Al Ihe $nd ¢f2025. the ¢htrityhokJ freereswes ¢1 £7T2k12024.' £636kl.
Ihe Board ConderS Ihol an apryOprIe levd of iÈrves for the ehafity shoukl t)e b¢%ed on belvleen tt)iee and months ol generol
fd UnTeslikled eypendilure ol approximaldy £275k. pbJs Ihe chgrily re91n
¢td Gfabgl
•oord's qMuqI rewllorthtyearendng 31 D•c•mb•r2025{¢onYdl
¥Mon9 th• caw lor bLrfldlng p•oc• - Wé wll look lo o $trong81 Orgttntsaiior Mordlorfng. Evoluolion. Accovnlcknlity and
L¢oming IOMEALI ry518m gnd wder ewdence base. wll 5upporl exlwnd ¢orrrwnwlk)n ond odvocacy. higNthhng Ihe necesyty
ond efficocy ol peoc8biildw)g. Induding rfs tsUcKr01 in conllcl preVenn aiclposl conltl recovery
In 58lliry oul CoTd'5 lorlhe 0cheOd. wè r•c¢onl$8 Ihol lh& gbbol envlronrnent Temains In o sloto of sbnfficoni Yolatillty. Cor(1
n&Èd5 to keep adaph.ng lo rermin rele¥onl ond fLWlI the Orgars0110n'5 mission. Ihe hieg 01[8$ 01)ove based on Qn Qdople
approoch and we %ryll conlmiue Io rncffiilor oThJ Oy1OUr 0Th5 n fhese oreo5 as needed.
A5 onffdpoled ol the tyeopnning 011051 year. Ihg ovohblHy ¢f tvnding retllCin5 chale19 arKI Cord hos [ore begun lo ulAlse o
more NooclNo toin51ilulional kndirg rolhei Ih(y) N8dorryn¢lly lo lunding ccl
As lh& organi5aliw further develops its p8ocebulclry dche an¢ betet ryltLloles its acd valw Io o WKle iawè of [K]rtne. Il is
eycld rW and wewouslyinoccessiYe sources of lundng wl become ov010. Innovotion remowls ktry in ItW5 PLV5uiI
i% oclivety pnotin9 arfftn1wQy5 olwcrfkpig %Mtt) pc41n8ts to inl¢rn fuluie an$.
Crxd's Credblty ond repulaknon remoln crilicol osseL% a5 we Seek lo buld relallortships wlh portners ty)d fundets. As is ollen i
c<e Wilh 5moll to moVM >zed orwnisotions. Cord neath lo work to inue05e wr brond VIbItY onL1 ow¢y8ness through re$8¢rch.
irTpacl shoring ond c¢nl&xbJal updates.
Cord's ¢oMoborolion port of IIE EU£ORD IbJioptron Nelwrt ol Relel and Debpment OrgonFsolionsl why rerroh o
sywnory conneclon Ptr. wilh geoler efforts being rThJde auoss Cc(d's learns lo biAld relolonslups %rylh a wthr range of reVtht
51ceholcrs Incluclng aca(lenwc ln51ilu1r.
In 2026 Cord w1 coniiThJe lo operole with teom5 in BuTun(5. Combodio. Myarmor. Loos ond wil open a new offite Kenya. Cord
an11paleS expun(Sng wwork vrilh parh)8rs lo lolowing locolions."
soulE051 Asio- VieiTh)m. Tho11c & Don09$h
Eo51?m Ewop&-M
Globul
loords omvol roWtltylh•yww 31 D•c•mb•r202S Icorfdl
anlxalkin ol1h•cl¥
Cold's 0rOn5 are conducted in acCd0Ce wlh lh& M8morondum ond Art1¢5 01 Assooolion Ihe p¢Scy Jid slialegy that Lye
opproved t)v Ihe Boord oncl implem8nled Iiirough lh8 Letsagr5P Teom. InthdLN)I rKoje¢ls ore mnogecl by CovnlrylRegiond
Represenlohves %Yho are responsièle to and report dirèctly l01he L&odership Teom. Clear neS ol monogernenl on(J responsit4lity hov
betrn agreed by Ihe 8oaid lor the oclriihes ol UK 5t(ytF. under Ihe dieclion ol the Leoder&hip Te(m. by Ihe CEO. The Board legu1
reviews Ihe Iinantiol slo15 and yoge55 ol Ihe ugoni5ati0ri5 wo. The Bogid hos ts Finonce 5vtComrrMllee wthich review5 and moniloTS
fmonce. o Prowomme Develcyrnent Sltscommitiee Wr¢ locuses ts) the Ivlwè drec1 ol Cold's progiamrne5 and a Rk
MC¥IOg8men15uWonYYlllee whth Iocu5e5 on rnanagln9 the oveial ri5k51o Ihei gOnS0110n.
RlskAlanog•m•nl
The Board acttvely rewa¥ Ih8 MOrsk$ lo wNch the charity ts èXP05trd lo thtst sysl8ryts ore in pce to mihO(3te Ihosè rfsks. A Rk
Monggetnenl $VcOMMIttee mee15 h4ice per yeor to these tisks arKI the rnithgallon plty)s. Inteinol ri5k5
Cord Global
B¢>ryds rgpryl lorlbeyearerJJw 31 Dec8mbw2025lconfdl
51alv5 ollhe CIK
C£Yd Global, also known a5 Cord. 15 a CLYnpany r[ld by gUantee rM)I ho¥iTrJ shore co101 INO. 6611?) cy)d o regtered charity
INQ. 10706841. CoFd 15 managod by a Boord who act as directors ol Ihe compony ond InJslee5 01 Ihe clwJ%ty. CoTd FvJd 60<x
membe[5 Ot the dale ol Ilys rep.
The lolowlng he office 0$ dtsel$ Imerrbets ot Ihe Bocjrdl Ihe year and atso held officè ot Ihe date of th15 reporf vn
olhewi5e slated..
Katherine Bredey
l<Nn Wilson
Rebecca Snead
A9011 Sth)pli
Robin GenwoO
Chod Mlilei
Appcinled 01112D5
ApOnled 0111012025
Appointed 3011012tr25
ChMsloph81 Ltwls
Wincenl
In ttceordonce Ihe ArticK of ASIOtittI. the Boarcl opptsnled three Commillees to help %%ilh Iha rthYrfTrJ of Ihe affays of lh&
charitr n Ihe ueo& ol linonctr. Risk Manageirenl ond PiiTrwomrne5. The BoaTd oims lo hové ot knst Iwo BocKd m&mber resxesenlollvs
on eoch comrrmllee. The Bocyd appo1nls Ihe commillees on Iwmly bas. Andy Posk ond Kalio ffich
Ct4d Gkbol
Boord'¥ •nnwlrnwTrfoilh• y•(v •ndlng 31 D•cemi>yr20251¢¢)nYdl
Yol•m•M¢lth• Boord's rPonnN•${cOnWj
ompany l(wo fequres the 8oard Iv PT&PQl& fingncial 51olemon15 fcy eoch fiThJncwJl y, wh¢h 9lve o true •n¢Y frAr ¥w ol the slole of
ol the ¢hffilabl8 comwny orhJ ol the incoming resour¢es ono opplicolK>n ol r¥otKces. in¢ludng the kncorne expetKflwe.
01 Ih8 charitable compcyforlh8 yèar. In prèwrfng Ihese finot)dol Sloteryt$. Ihg 8oc¥d isrecwkedto..
5ele¢l sulab18 occounh'ng poIleS arbd Ihen oDphflhem consi>lenl
4 obsep¢e Ihe melhoth an
Ccfd Gfobol
IAdP•ndwlAis R•prytloth•TwJt••J ol Cwd Gkbal
OWfftk)n
We Ik7ve oudile4 the Anondcl sloteffnls of Corcl Globcl Ilhe 'ckvJrilakAe cornpany'l lor Ihg ye(Y ended 31 D8camber 202S vrtych
ccthrlse iho Slolomtnt ot finontiol lh& Balonce Sheet. the Cashfiow Slalemenl ond IfE leS to lh8 financlal 5tolemeJ)ls.
IlUCIng srgr¥ficoil occwnl#)g poheies. The finonaol reportino fvomewoth Ihol been oprdied in their pièwolrtin (piCOble IcTri
United ngdoM Accounting Slondcxds. includno Financial Reporlin9 strandd 102 The FmarKkJl Reporling Slondoid oppIcab
Ihe UK ond Rermjbk oflrdand Iurilea ngdoM Genwoty Accepled Accounlro Praclkel.
ln our oFwnity) th8 finoneiol sloltmenl5'.
give o hu8 ond fo of 51ale tsl the Ctable compony's afaY$ 0$ 31 Decémber 2026. and Df 115 ncomiNJ restsurce5 and
oprllcotion ol reswces, including 115 income and expendiluye. for the yeorthen erKled".
4 hove teen wpety ryepored in accordonce with Kingdom Generolly Accepted ACcore Pracllce., ond
. hove been tyep(Y8d in ocetrdunce wlh Ihe requiremenls Of1 Ccnpod6S Act
We conducted our audll In ttcor()nce InlorntslrVJI Standards on Aolhng IVKI IISA5 IUKII and opplcolye low. Ou i&¥>onsibilhg5
those 51andard5 0Fe lthhei in the Avdlorf5 responsibiThlies lor Ihe oudil of th8 financial slolements seelim of our report.
w tye indep&ndarit ol the chorflot eompony in occordan¢e wlh Ihe elh¢ol requirèments Ihol cxe relavont lo our au611 of lh•
5talerngnts in the VL indvaino lh8 FRC'5 Ethical Standryd. ond we hovefvlfilled other elhtol r95pon%bill5 in accordonca
rylh Ine5e rèquKements. We tyefieve Ihe oudil evidence we trK)ve oblointsd 15 9)fficnI ond approprfolt lo provide cj bogs foi OL
opxnhJn.
Con¢lukn r•lthYt0gThJ conc¢rn
auolhno Ihts finoncigl 51olernents. we ha¥& concluded Ihai Ihe trusla£s' vse ol gorvj concern I)0$ ol occounling in the
PTepaialon of Ihe flnoncicl 51olerrben15 is ar¥)Toprfole. Bosed on Ihe worf( we hove perfotmed. we tr)ve not identified ony leal
uncerfolnle5 ieltsling lo tren15 or corvjltio¢ IfKII. IrdivicJQl or coll8clively. moy c05t signiffconl dovbl on Ihe chorilable e¢mpany'
ablity to conlinvfr 0> o goiw eoneeTn fora period ofol lets>t fv¢elve rnonl trom when the Inondol ilolémen15 ore 0h0n$&d tor i55Ua.
Our reSpIbili11es ond the re5ponsibthlies ¢1 the huslee5 wh ie5pe¢l lo goifv) are d¥crlbed in lh& relevonl saction5 Ot IP¥s
report.
The olhat inlom)tslion Comse$ Ihe inl
Cd Globtsl Indopetyd¥rtAv¢Ns Rewlto Ihe Trusleesolcord Globallconfdl Oplkn on oth•r moll•ws pr•scdbod by lh• CompaThl•s Act200 In OUT opiniOTh b05ed on the unolerloken th8 ¢our$8 of Ihe ovdl.. * inlomolion £iven in I boords fy)nvd rep lincorF4yoling the JieeloT5' re) lor the finonciol year for wfmch the finCl slotements ole prepored is consisleni wlh financid slotem8nts." ond the boord5 report lincoporo1g Ihe rfirecloF5' report) has been Fxepai&d in awor¢k)nce wlh (1C<ie legal reqwemenl5. l•lallerson kb weovevequlred lo report by excepfio In the li1 ol the kncbwledge vndetslondinu ol IIE ch¢loWe ¢omwny ond its enviitsnmenl ¢)bl¢lned Sn the colxse of the ovcll. we hovg not iJ¢ntiId mtsierid nM5>1olemenis in lh& bo¢id'5 onnuttl rÈporl. wè hove nolhing to rep¢ in rtrsptcl ol tha folbwng mollets in latiOn to wfwch lh Comp(¥)18s Act 2(N)6 requres lo report lo you il. In ouropiniort.. (Klequal& accounlwio récord5 hovtr rK>t be kept. or relums ¢%yU01è f(K our oJdit hove ml rÈc6rrtcl from lyonches nol the Ilnoncicl slolerrtn15 ore r1 inogieemenl Iheaccounhng recud5 letu5.. ar eertoin clrlosvres olaiiecltys, remunerohon bylow ole nol modg.. or ' we hov• not r6ceived ol informolion (nd ewonolbrts we r¥ulre t our oudlt.. or the Imlees were not entild lo prepore Ihe financial 51atem8n15 in accordance wth the sml compcrdes, regYre oncl toke odvonla9e ol Ihe smdl componie5' exempli005 in preporing Ihe rflreclo. ieporl from the reouiremenl lo prep0 o slroleglc rèport. As exaird rnowe luly in Ihe botyd's resoonybWls stolemenl, the InJslee5 l¥ho ¢Jr8 also Ih8 dreclors Ot the choriiobl6 comwny I Ihe purposes ol coTrpgny lowl re5PDn5ible lor M)e yeporolion ol Ihe finonoo1 slolemgn15 lor boing saIlIe& they give o Irue la view. ond 1¢¥ 5U¢h initmol eonlrol 0$ the Iruilèès dÈlérmi)è is necessory lo enab Ihe prepara1n of finoncKJl 51ol8menls Ihol ore tree trom molengl ThSsIa1men1. whelheT du8 lo fraud orfrThcK. In eOr) the fjnoncM)l slolemenls. the Iiuslees or& responsiblg lor 0559s&ng the th(18 compc¥)y's lo conliruo os o gcx conceffl. disclosin9. a$ applicablt. Ite lo 9¢r concem und wng Ihe eoneem ba#5 of occovnbro unl85s lotslee5 eIttltend lo qOle the Ch(1bI& cotDpony CY ID ceo5e £010n$. orhave no re(iS1 ahetnalive but lo ob 50. Audhfs r•spOt4•S1OrtthJdIh0ffinO11 slal•m•nl% Ovi oiiectiVe5 ar$ lo obloin reosonable a55vrance about wh&lher the rwr¢1 slolements 05 a vthrAe e free from rnal&i m51¢18[8rtt. whalh¥ dve 1¢ trovd or effor. and to issue an audilor's Teport Inot our 00Th. Reasonokle a55Cnee li o high level of tt55urttnct. bvl is nol o gvoronlee Ihal ou¢il condu¢ied in accordorK8 wilh Is IUKI will olww delecl o mlSol mrs51ateTn8nl when il e$1&. Mi$5tolemen15 con i)rise trom haud or éffor considereLI moleriul Il. 1{allY or In tt)è oggegol&. Ihey could reg5oncknly be expected lolnlluence lh8 8conomiC dea5ions of usets lokenrm) Ihe bosls ol these finCl(l 51otem&nl5. IrrtgLrforithas. Includng fvoud. are Inst(CeS 01 non<Dmpfiarte wlh lows ond regLlolions. We d9 proced0% in ne with our 1&5pongblllli85. ovlmned obove. lo detect material tn$51oleffwts ffi respe¢l ol IrregLAorffves. inckjdiry traucl. Trbp specific KKo¢e(re$ f Ihs engtsgemenl ond Ihe gxlenl to which these are capable ol deiecling Kregvloriles. includng frau<J 15 delcjiled bdow. Auditing risk ol marM)9emenl oYeThKle of eonlr(A5. int IOUgh l¢sli)g lovmol enlries and othar odi'Ltslff*nls for appioprialenes5'. . Revieww mwxJle5 01 meelry5 01 Ihoso chtyged1h govemonce.. and . Ewuty ol monogenKnl lo KlenlKy ¢x)yinsloncw of non<0m1n¢S th I¢5 andregA0ns.
CO Gkbtsl
Ind•pendent Audttor' R•pthtt¥ tho TN$1•0$•1Ctyd Gknbol I¢0r)
AvthW$ r•w$lbThos Ftylhe adI¢lloneId thiTr•m•Ats leonldj
Becouse Of the Inherent Imlloffons of on w¢ll, there 1$ 0 risk Ihol we wll not dBtfjct oll uieGul(urli&s. inclvdkng IIKise leuclno lo o morarfol
lolemenl fifM)nciol sloiem¥nis oi noTr¢omplon¢¥ rUtlon. Thi5 rt5k i[eaSe5 the more Ihol c¢mpllor¢e with a low
regvlolion Is removecl Irom Ihe tsvenls ond Ironsocltirts rfi&clé¢i in thfl flnaneid stalernen15. aswe be less ske to becomè owor& of
kn51onces of nofrfornrAiance. Th& sk Is otso gr11 r8goidino ifvgdarth85 ¢JLJe lo frovd rolher etrc. fraud invOe5
Iwtioncl conCeMent. forgery. co1th. omis%on u eesrnI0kn. A lurfher descfiption ol ow responsibThi lies 15 avaAable on
RepDrtiro
Courtil's
ol-.
hMps'.Ilww.ITc.org.uklOui-WolAt1AuiI-O&osSuranCeIs1odar
CORD GLOBAL SYATEMENT 01 IINANCIAI ACTivlliES {AND INCOAIE I EXPENDITURE A¢¢OUNn Yeaw Ended 31 Oecembef 2025 IIICOME OoThJliorn ond189008s A)ndrolng Ir¢¥Jng incorn Invslmenl In¢tyme 357.665 359.223 6,987 429 2.43B 2.438 360.153 561.711 398.528 coming I&UrCeS from chI1able hfie5 Granls loropefoling ocliwltss 82.950 1.317.785 1.400.1 I.0310 Olhwincoryyng r950urces 21578 .578 12.967 TOTAL INCOME 465.181 1,31?.343 1.785.024 1,443,345 EXPENblWIE Co>ts tyl rotiirffj ndS Fun(traiyng and pvbficity costs Fun(tr(Nyng troying.. cost of gDc>d5 50bJ Tow ¢ostolra1g funds 103A19 103.619 105.168 103h19 105.168 ExpendIlU eh¢wHubte gcllvHI•s 235.792 1.187.654 1.421440 1.536.918 TOTAI EXPENDITURE 3J9.411 1.187.654 1.527.065 1.d42.086 NETINCOhlJNG I IOIJTGQING) RESOURCES 12&.270 131, 257.959 (116,7411 OIHER RECOGN15ED GAINS/ILOSSESI Gonllk)55I onexcharse rale difterence betw••hftJnds 20.889 20.889 140.1841 31143 NEI MOVVAENTIN FIJNDS ia3.&3? 278A48 1244.9251 Balonce5 Ought 1¢xw l JonuorY2025 761.743 190,146 951.889 1.196014 •ALA14CES CARRIED FOIWAID AT JI Oeeembw2025 876.759 J53,97$ 1.230.737
ORD GIOBAL srAIEIAENTOFFINANCIAL ACTIVITIES (AND INCOME4 EXPENDITUREACCOUM) Year Ended 31 Dec•mb•i 2024 N¢1• INCI>AIE Donotions ondlegocies FUrpdrai54 tro[19 COn Jnve51rnentlncome 396.807 429 396.987 429 337.069 1.044 917 398.408 120 3ff 528 339.630 incoming resources Irom choriloble tseliyilies Gronts foroperoting ac1pt*S 945.770 1,031.850 1.604.970 OlherpncoMK)g[eVrS IiP67 iiw 21058 TOTAL IIICOAIE 49TA55 945.890 1.441J45 1.9H664 EXPENDJTVRf Cosls t•rdslng Fvndrtygng andpub1ty¢osls Fundrtsfyng trodKy.'c051 olgco<YSs 7olalcostofftihlngfvAds 105. 1 105.108 IIZ245 105.168 105.168 112.033 2339 1.280.579 1.5M918 1.564.?52 TOTAIEXPENDnURE Joi.so7 I.2.519 T.U2.086 1.677.585 NETINCQMING I fOWGOINGJ IESOURCES 135.P41 (334.U (191741) 289.on OTIIER RECOGNISEDGAIIISIftOSSESJ Goinlllo$51 on exchonge role d111ete Tronsf8rbetween fLdnd5 14&184J 14.5791 146.1841 128.324 4.579 NEIMOVE41EI471NFUPIDS 45.185 PJO.119) P44924 7é0.752 BthttncestAoughtAoThvardaf i Jonuury2Q4 670.558 520.256 I.1814 8AiANCES CARRIEDFORWARDAT 31 D¢¢•mber2024 761,743 190.146 151.•89 1.19&814
CORD GLOBAL BALANCE SHEET As 0131 December 202S flXEDASSE ItgIbb fixed 24.824 41.990 2d.824 41.990 CURRENI ASSE[5 Dèbiors 236.6B4 I.CX)6.469 267,624 687.047 Cg5h al bank tsnd in h¢#)d 1.243.153 954.671 cRED0- Amounts du•wilhin onsyeor 137.2401 144.772 NE[ CURRENT ASWS I..915 90?.899 IOIAI NEI AE[s 1.220.737 951.889 FUNDS Vnrttled Funds GENERAL FUND De5igrboled FL#)ds.' UencY15k Manaoemenl Fund De9ole Ftted Jb5els Fd IrwTholK>n Fund 722.405 635.870 .981 11,205 84.lff 18.865 41.198 10.080 ProgTaTnrne Fullnlment Fund Devebpmenl Fmd 19.064 876.759 761.743 R•tsfjded Fvnds Re51fict8d Incorr Fund Reslrfcled Fed ISe15 FurKI Tolol Rtsfrkled FndS 167ml 23.125 190.146 13.619 351976 TOIAi fUNDS 1.23D,737 951.889 These slalements rye piepared n cOrn¢tl1h Iht speclol prowsbrts ol PQrf 1501 th8 Compo(¥85 Act rdothng 10 5rn01 comporie5 The ffnoroal sloleffntswere approved bythe btrcrd on Isl 2W6 cydsignedon ol Ime bottr¢J by K(Ilherine Breoley Choir
CORD GLOBAI STATEMENT OF CASHFLOW Y¢•v Ended 31 D•e•mber2025 C¢Jsh prothd bytspu01Jng qclPdlles 296,095 Plrthcue ol longb fixed 0ss15 Proeeeth o150È 01 [ed 055e15 leresl recaved 120.5081 21(Y4 ?.43B 117.3471 Chonge in ¢h oThY cosh eqyOntsirn year 8.533 149.8421 Cosh c05h equivol&)ts ol Ihe beGinnTrig ofth&year 667.047 783.073 Chonge cosh ond COSh eqLivanlS lo exchangfrroltr movement .889 146.1841 Totolco5h ond cosh 8qLlvalenls ol the ervj of Meyecy l.C06.469 687.047 Re¢•neIlIon ol Movemènl In fvnds knnqtcash knTfvom opwithnj aelhl Nei movement in funds ACIju51menl for.. Interest received DerOI[on chtrge Goin on (Isposol ol Ie flxta 05sels Decretse in d8blars Decrease In c¢Jtory unreolisedl9air1llos$ÈS on forwgn eLvency Nel cosh provmjed byoperoling ocliwtl95 278.846 1244.9251 12.4381 17.409 12.10P1 1S4.422 12.3641 46.184 1324951 .940 17.5321 I,88?] 296.CV5 An¢ay f4cq5h and ewh •qulwl•nts C05h in hond l.W6.469 &57.047
CORD GLOJAI
NOTES TO THE ACCOUNTS
Year Ended 31 December 2025
I. ACCOUNTING POUCIE5
e princpol a¢¢ounting polcbs oyopled ju¢JJemenls ld key Sourc ol 8slimolon wcertolnly kn the wepar01K ol the firbancl
stolemenls cxe C lolM'.
501weptyalloTh
The 51oleff6nls htye tr)een piepared in accoiLlQrt& 1h A¢counling ond Reporlfftg by ClvJrili85." Slalement ol Recommende¢Y
Practic oppli¢o)b lo ¢hariliaS preparin9 theaccOUnts In o¢¢oidonce with Ine nCIal Repott4ng £ttsndofd (wpliccknle in the UK and
RepIC ol Ir4ond IFRS 1021 leffeclive l January 20191- ICh(¥ltièsSQRP IFRS 10211. the Finoncicl Reporting Slandoid opp1Scob lh& UK
and Republic of Irdond IFRS IIKI. the CcmpcmEs Act 2006 ond the Chotili¢s Act 2011. Cord meets the ol o public befteI
enlily under FRS 102. AS5els and Ik)bililEs are lTh1lally recogni%ed ot hi51oricol ¢osl or Iransochon volue reSS olherhise sloled In the
rdeyonlaccounling polcy nolelsl.
Fund accou#n9
G•tTr•raIunSbCldIVnth (¥0 ld$ ov010b lu use al Ihe dcello of 80(xd toward5 acheN4ng ony th¢10ble pvrpose IIK)I lo115
rithin Ccrfds Chlab object5.
D•slgnated urn?slrf¢led Ivnth includ8 roseryes inve51ed in 114 05sels or amoLVt5 59t agde by Ihg Boord from unreslTLlad lor
specific fule purp05e5.
Rpthledluhdi ore Ihose tvrKts 5ubW lo spgeific conddiys Imposed by (k>nors. Al Iho year-d any fund d8ficits ore t01red orly
when Ihe Botsrd ere ol the opinh)n such d8ficilS vlll be elirrirKJleol In Ihg 5horf lerm.
comg
Income 15 recognised when Iha ¢hortly hcss enlilleTnenl to Ihe Ivnds. ony pertorrnnce cort110n$ olloched lo the itemlsl of iicome
hQYa been rn?l. il Is probtsbl& tfw)I Its income wll b& recebvad onJ In& amwnl can be m8osur$<J ieliob
Gwontlneom
Gianls ore occounled lor 91 lo considerahon is •OLl under the em$ of gronl. When income ts recee h odvance. its
re¢ogtMbon is ol tre dolg ieceived ond El818rre<l IncorT 15 Shown D Ihe resIle fvnd5 bdorce forth. When enlmerwnt
cCcU beloie w)come srecewed. the income is Qccrued.
Legacle5
Legocies ore Fecoyisod in the accoun15 wheo enlilèmenl occu. Where rnlificolion ha5 been ic¥veKI or a Wcy hos l)68n
16ceiv¢d aller Ih& accounling yèaT Énd and bt ts clooi Il hts& been weed by the pewnol rewesenlohv piioi lo Ihe Ye en
CORD GLOBAL
NOTES TO THE ACCOUNTS
Y•or Ended 31 Decembei 25
I. ACCOUNMNG fouciES ICONfDI
Creditors are recogrwse
CORD GLOBAL
NOTESTQ THE ACCOUNTS ICONfD)
Ytrty End•d 31 D•E•mb•r2025
Llnr•5Itvd le51rleted Votol Fun¢ts
lolal Fut
Funth
Funds
2024
I DONATION AMD LEGACY INCOME
Indwdud5
Churche5
2).56?
10.464
20.379
1.558
232.127
10.464
20.379
23.2x1
73.003
351.223
176.678
11613
1&518
13.(¥JO
Corporol8s
L6goeièi
IOTAL DONAIION AND LEGACY COmE
73.(K3
357.605
IA58
Llnreslrlcted
Re51rlct•d Votal Fund5
Ttslol
INVESTl4ltNT INCOME
unds
2025
2024
Bor& orhd rvj sodety ¢eposillnleresl
2.438
4. GRANV INCOAIE
UN•st Rethlded Ttd Futhth
Fvn(h
)ds
2025
Totd F¥ndi
2024
Europeon Lknlon
US Slate Depl- Righ15 & L
CORD GLOBAI NOTES TO THE ACCOUNTS ICONTD) Y•or End•d 31 December2025 5. OTHER INCOME In¢KJ¢e<Jwilhin ¢lh¢rv)come Is ¢onsvltancy tees. 5undyincome arKlinconE from 501? ol ossets. I. IOTAL RESOURCE5 EXPENDED Gran Tthl 2024 Payab Coslj 2$ FurKlrcAsing arkfj publlcity costs FuTh<i5ing trading.. Cost of sdd 103.619 103.619 105.168 Dked CharobhA¢lfvNy Women & Gid5 Empowewmenl Clirnale Chonge & Ihé Enwrtrnment Econom¢ Empowemenl Fundam6nlol FFè8d¢ms 96.415 69.712 16.188 61.248 51.928 .591 351.485 301.325 58.509 331.709 493.890 1.536.gla 43.123 37.157 149.992 62 205.512 316A17 701,144 76.583 92.927 163.301 352.616 375.022 658.979 Svpportiry Stroryersocls StrtrAotol Dk•rlththb 179.061 366.301 1.423.416 Tolal •XPAThthl¥ro 7N,4H 316.3( 456.317 1.527.065 1.641084 Gronts poyotAe gronl poyffnLs10 29 in51rlvlions wnlÉ8${24". 33 h5hlulbr61. m¥ n(xn&s ofgonl i&dplents rye rol scbstrd due lo exrylionon IPE orcwnds ol 105 ryejuclce. Sw)port Cosis allocated 05 Irlbw5.' 2Q24 Le¢ydetship Progrommtrs Operatior FurKtroilrKJ 91290 79AIS 180.593 103.619 95.193 97.493 173B39 456.317 471.193 NETIFICQAIV(EXPENOITvf¢EI FOR THE YEAR Thlsts stol)1•erchty9 OpeiolTr)0 th5es- bn(ond Operalirva leoses- euuplnenl lees Gains{ d5posolol tory@ fv'xed 05sels Depreciathon 24A89 234 8.ICQ 20.134 2J4 17.409 Trovol ond 5Utsi51ee expense$ totalw £W were poid to6 tAleeS ihe yeLY12024.' £193 lo fvusleesl. inswonce pohy by chority lolded£251 12tr24.. £2441. ND tr1&eterYed remunerobon. During Ihe yeor donation5 recaved from tWsle8s lolcd£l.99? 12ts24'. £1.5SOI. Ihorewere no rdaled potty fran5acon5ln dlh8r year.
CORD GLOBAL NOTES TO TIIE ACCOUNTS {CONfD) Y•or End•d 31 Oee•mbtt2025 STAFFING UKS InSh 202$ 2024 Salorfes ond vge5 Empk7yeT noliond insurance pknyei VK Penyon conhlbullon 367.900 34.451 21.730 339.799 707.6 34.451 671735 28.L3 21.7>) 763.8 19.347 720.Y)5 424.(7 339.79P Tht ov&rooe nvmber ol employees Iful ewvokntsl wo5:_ UK." fun(kalg 51otf UK.. olhwsloff Other counlrie5.' nlemliol 51att ON)w counlfjes.. rollorol &loft 16 14 28 One merfèeT o151otfrecerigdemokjmenls Isal(yy and bene1151 Ihe £60.(th10£69,999 boncl. Pnyon co$ls (Ye ollocoled b oclvilbs ond TlS in pioporlk>n lo Ihg related 51offirtg costs irtwrea. In l)25 and ?024 lh& key fTh)nogem8nl leom ol the ChoAly compthe kne InJs1e. ChS&t Execulwe oificeranol Heod otOp¥olions. The told ampioy&e benefits of thè k8y monC&8ffnl personnd for thé charity weie£135.40712024." £131.5101. 7. FIXED ASSEfs. TANGIBLÈ tqulpmo VehIc3 COST Al l Jonvory 2025 A4¢JllorG Di5P05a At 31 December2025 88.785 .533 IX.318 57.731 33.533 91.264 ACeUhlilLATED DEPRtClAIiOP4 Al l Janvafy202S Chaige lor periool Disposds At310e¢erni>ef2025 64.856 10.245 131.0541 44.047 15.472 6.921 80.328 21393 66.440 Wfl BOOK VALiIE Al31 De¢ertTrbw2025 13.604 24.824 NET BOOKVALUÉ A131 Decemtyer2024 23.929 18.061 41. D•w•¢lulfon Ral•s . 33% 20%. 33%
CORD GLOBAI NOTES 10 THE ACCOUNTS {CQNfD) Yeor Ended 31 D•c•mber 2025 & DEBTORS tsront & NGO ST( d8blors Olherdeblors Pr8poyments & accru&d income 197.120 19.256 231,616 19.777 236.681 267.624 ?. CREDIIORS. amountsfolllng dv•thln ory4 Granl credito G8n8rdcreolttrs iaxg5 sotid secufty 4.095 23.634 13.606 3>.240 8.277 io. optR4nNG iEA$E COhlMfiAifNIS MITMum lease po¥mèn15 Under noTrconcdltttAe op8rothng leases ltsll as Id 202S EXpIng.. Ilhin on ytrar B8fw8en ond fve years 20.756 13.727 960 14.687 8.905 29.461 11. MOVEMtNTS O RE5TRICIED FUNDS Bah7nc• l Jttn2S Al•vements kn Re50ur¢es Grunls Olhw Inc¢)m• Expvnd•d Ooknc• OP TvaThfer 31 O•e 25 Women & GI &nrowwffl8nt Clmote Charw & Envirorml Economlc Emp(wermont Fundomenld Freecloms Slpporting Strorw5och Tdd RoJlrfct•d Grottts Funds Re51d¢led Assels Tatal 15.698 227.435 IpJ).oTI 7m8 T7.819 22.678 IT.241 77,819 76.374 377.885 456.020 1.317.7 347 126.6491 11.060 54.1 97.038 117.478 167.021 23.125 190.1 347 1543.4WI 3.229 32143 .575 340.3$9 1.558 19.5061 11.187.154) 1,317.785 143 353.974 ch¢Yraln¢ gendtrmeowlityand women hlman rfw)h15 defende[5 lo rAomotejusl pjcefLrfsoC1k. Change & lh• EnvkoTrment Builoing copodty 01CrA ond tnc&genous People gioups I001¢t Ihetrbnd troiniw nehvortbtAlclng ond erv)ouemgnlwllh prtvol* seclorand govwmnI rwi51riè5. Empowering cornmunilies lo sove rnoneyeoleclrrfalyand Nlvesl in ihwrown buneSSes. lodllolng a SThift Irorn oviclkn rr¥ndEI to a sertse ofempowemenl over own fubjre. lrryr0vi Ihe thowkdge and opp&'coli¢x) Ottrunonrighls inclJdifwJ freedomsof1$llg. Witf. ex¥esMn and Charrpn1ro Ihe fv4h15 01 grou Supwwng Stronoev S¢¢ielle&' Slren9thenpng cwH Society 0derS Ihrouoh kanin9, M8ntOrsn. 0ndnelw0 1¢ use Ihervoice lotknng meorwnotvlchowe in their eomunilie5. Engagino p¢>wert)01de ona erthanting Ih&r Otslity ttsgovem ond ccAk)boiale ellÈclrrfetywilh communib8
CORD GLOBAL
NOIES TO THE ACCOLINTS ICONT'D)
Yeor Ended 31 Dec•mb•r 2025
11. MOVEMENTS OF RESTRICTED FUNDS ICONTD)
BalorK• ol
Mtrv•m•nls In R+JovFCX
Grants Olheylncoffle Expended Translw 31 Dèc 24
lJon24
Restrted Ivnds
R•SIted fid assets
.001
945.770
11.280.579J
17.2911
11.870
167.021
23.125
Tolal
520.250
94&770
(1.2&1.579)
4579
190.146
12. ItNRESTRICTED FLINDS
The curyency exchLge gor Inal ol knssesl incuwe¢Y In the yerA have been Sel o%de 5epoiole aeslgroled fimcl. The lund ha5
b$en sel up os port ol Ihe ii5k m
CORD GLOBAL NOTES TO ACCOUNTS ICQNfD) Year End•d 31 D¢¢•mb•r 2025 13. ANALY515 OF IIET ASSETS BETWEEN FUNDS lon9lbl• Cuwenl Total Vtéslrklqd Fvnds Reslrlcltd Granls Rest1 Fi¥edAs56ts us8iYin woièc Assots 340.? 340.9 13A19 13.411 340.359 353.978 Unr•strkMd Funds Geneiol Funas IvndeslgrKJledl De901& Cwency Rk Monogemenl Fund Lk&gnaled fyxe¢JAsEls Fund Desiwled Innovolion Fvryj Dtrygrol&d Developmenl Fvn DwvJnJled Prwcmme FvifiLmenl F Tot41 721405 39.981 39,981 11.205 11.20$ 84.11 84.102 19.060 6S.554 19.066 11.205 B76.759 lferal Fund5 14.124 1.205.913 IJ30.737 ffithenlresour¢8saTe he an oppropriale ftym toenotd8 eh lurKI to be q>pled in accardonce Wrlh Ihe rOKIlon$ imposed. 1& CONIROLLING INTEREST Ther$ is noovg1011 eonlrdlng interest.