The Global Fund for Children UK Trust Annual Report and Financial Statements 30 J￿e 2023 C¢ryany ty gtsar4t*ee Regstrab)n ￿31876 IEn9l*d and ￿1**) Ch•rfty Nwthr 1119514 Contenis Reference and adffinislratfive infomwtic Rewt of the trustees IWeThJenl aLbJitt*s report 12 Flnanclal stst•ffl•nts Slalement of financial actwities 17 Balance sheet 18 Pl1r￿1P4 acc4)unb'ng poh'c 19 Notes to Ihe financral statements 24 and admlnljtratlve Infornmtlon 30 June 2023 T￿t Marine Abiad Michel Antakty Mandy DeFilippo Antcmne deGuillenchnMdt- T￿asurer John He￿Inger Kiran Kk#)rthy Sonal Patel lapwnted 10 May 2023) Muna Wehte Mark Wlson- Chaiman Reglstered and Operallonal address 4 Crcywn Place London EC2A 4BT W•bslt• www.g10balfundf￿ch1IdTen.OrwUk4ry$t Conyny number LE031876 (England aTrJ Wales) Reglstored Charfty number 1119544 (England Wales) Audltor Buzzacett LLP 130 Wood Street London EC2V 60L Bankern HSBC UK Bank pl¢ 1-3 8istrw*e London EC2N 3AQ Solicitors 8ate5 Wells & Braithwaiie London LLP 10 Queen Street Place Lond EC4R 18E The Gknbal Fund for Children UK Trust 1 Rèport of the Iru8iee* 30 Junè 2023 The trustees are pleased to present th*'r Wep￿t together with the consolidated financlal Statements for the year erKJing 30 June 2023. The reference and adninistrative infonnation set out on page 1 fonrts part of this report., The ffinancial staleff*nts comtyy wlh the Charities Act 2011. Ihe Companies Act 20￿. the Meffwandum and Artrles of Asscr4'*w)n. and Aco)unling and Reporting by Charit￿$.. Statement of Recoffmended prac*.￿ apiXi¢able to ¢harities preparing their accounts in accordance with the Fina￿￿al Repothng StandaTd ap￿1¢ab￿ in the UK and Rewbli¢ of Ireland {FRS 102). Struclur•• gov•mawA and Man•g￿¢￿t The organisation is a charitable ￿MpanY limited by guarantee. irKorporaled on 18 December and regbstered as a ¢hwity on 7 June 2007. The company was estsblished under a men￿randuM of association ¥th￿h established its objectives and p￿e￿. and is govemed under its of asso¢ialion, with Global Fund for Children (GFC) as the sole member. The CEO of GFC is a membw of the Board of Trustees and attends the UK Tnjst Board meetings. hekl four tHn&s a year. Established in the USA in 1994. GFC partn•s wth community-based organisation$ around Ihe worfd lo help children and youth reach theirfull FM)tential and advancetheir rights. GFC'S modd combines fie￿ble funding with capacity deveknpffEnl services to help its partners realise transf0m￿tIonal, youth4riven ¢hange. GFC'S partners emerge from the funding relationship as nv)re sustainable and connected to the resources. people, information they need to feach Iheir goals. After graduation from GFC'S financial partnetship, the partners remain Nitsl peers and mentors in GFC'S wing global netsvork. The Gkib81 Fund for Chihjren UK Trust was registered as an independent charity on 7 June 2007 to extend the vi&on and of GFC in the UK and mainlarKI Europe. The UK Trust purchased the right to use the GFC brand for £1 and ￿ r￿ul￿d to adhere to the tern￿ of the License Agreement btheen the tsvo enth'es. The for the UK Trusi Board is to assernble a group of individuals who combne entrepreneurial energy and field expertise wth more established instr"tuts'onat porspeth"ves. This rrix is ¢ruoal to maintaining the organisation's innovative spirit while developing a sustainable in$ts"tub"on. The Board is working to becoft* more representsb.ve of the natsonal and intematthal communitss aTrJ WK*'wduals the organisatson seeks lo seNe. Bowd rrEmbers are d￿red who represent a balance ofethnic. ujtutal. natK￿aI. ￿0t¢onoMic. gender. age. geographic dtversity. The Global Fund for Children UK Trust 2 R•port of th• trustM8 30 J￿e 2023 StnKlur•, gov•manc• and management {continued) Appolntsn•nt of InMto0s (¢onbnued) New trustees are r￿l￿nated by exists'ng Board meffthrs an¢Yor the UK Trust's Managing Director. Candidates. biographies or Cvs a￿ cir￿lated to all existsng Board members, and cand*Jaies are then interviewed by tft￿ and the chairrTran. Candidates are approved by a vote of the UK Tr￿t Trustees and then a wrillen ￿$OlUtion is gNen by the US Boaid, signed by the Chair of the board of Di￿0￿. All new trustees receNe access to all key docurnnts relating to the chanty's work and to th￿r duties as a trustee and go through an onboarding orientation. Trustees are also enccwraged to attend appropriate training se￿on8 that will tsililate the undertakin9 of their rofe. The Board of Trustees adnNnisters the tharity. A Managing Director, or a staff member working in that capacity. is appointed by the trustees to manage the day-to-day OFerations ofthe UK Trust This position rewrts to the CEO of GFC in Washington, DC. However, the Bowd continues to revivw the risks ofthe c*arity on a Feriodic ba*'s. The trustees are also direct￿$ for Ihe purpose of the Co￿an￿ Act 2006. Publlc benefft The trustees refer to the guidance contained in the Charity Comwission's 98n8ral guidance on public benefft when revie￿n9 the cthaiity's aims and obiethes and in planning future activilies. Otye¢tlve8 and a¢tMtI•s GFC partners with thal wdarHsat#)ns around the world to children and youth ￿a¢h their fvll potential and *Yvance IheiT nghts. Over the past two decades, GFC'S grant-making and programme strategy has centred on directing flexible funding to nascent grassroots organisations employirvj a unique range of inteprfentions to uphohj the rKJhts of children. Since 1997. GFC has invested 168 million in ￿re than 1.000 communty-based (xganisations, strengttrthing thousands of communities and reaching Thye than 11 million thild￿n and youth ￿￿1￿¥￿Ie. GFC'S m objeth'ves frtus on three key %tivities'. GFC Ilnd8: GFC iden11f￿ innov*4e ￿ganizatiOnS everywhere- typicalty in the eaty stages of trthr develoFThnt- that are run by ILKal kaders workin9 wth thildren and yc¥Jth around the worfd. GFC fund•: GFC funds its kKal Partn￿5, life-chawing programmes kn thildren and youth, as well as their organisatK)nal development The grants are flexibl8 to maximise GFC'S impxt ￿ to meet that otherlundeTS are not willing to support. Toyther, GFC •nd Its ￿rt￿•r& ¥tr•ngthen: GFC thises, ffthlors, and guwJ&s its partners. ￿lId1￿j mutual trusL acwuntatxlty, and enduring relatronships. The targeted cap• devdopment provthd ￿p5 its partners gr<￿ stronger f￿re ￿5￿)nSiVe to thallenges on the ground. The Global Fund for Children UK Trust 3 Report of the trustees 30 June 2023 Ob￿CtIV•S and aCtmu￿ {continued) GFC bulld8 networks: GFC connects its parts￿[S to eath other and to national and regional ne￿orkS. GFC tffings together ￿llIant rninds to tsha￿ kntrwledge, generate le￿ir￿J, advctw. and build n¥yrferrEnts of so¢lal ch￿ge. • Wh•n its partnws graduat•, GFC stands woud: GFC'S partr6rs emerge nv)re susta'nable and connected to the resources. people. and inf0mat￿n they need to reach their goals. After graduation from the financial partnershp. GFC'S partners main Mtal peeryJ and mentors in GFC'S growng global netsvork. GFC'8 programme focuB GFC'S grant making and programffE strategy emphastse four programmalic fcKu$ areas: Education- Working to secure equal access lo high-quality education for am chiklren. irrespective of any ob5tades that stsrbj in their way. Read abwt who are workirKJ to make educat￿n fvn acce￿ble for all. • Gender equty- doferKling thiklren's rYJhts to enjoy equal OPFQrtunities and resour￿5 within the societies in they kve. without fear of discri￿￿nabon on the basis of tt)eir gender identity. Read about Influ Movement for Gender E ualil who are a group of youth aged 13-25 who. the SUFPOrt of GFC. are fighting lo deconslTUCt gender stereotypes in West Afnca. • y￿th emptrwem*nt- preparing young people to shape their own fvtures, advance their rights. and leaj healthy. woduthe kves. Read about he inv Senegal. co-created ty GFC arml Tostan. in Freed(xn from wdence and exploitation- eliminab.ng the vioknca and exploitation that can keep chiklren from reachw their full potential and working to heal those affected. Read a￿ut our ather in Thailand who is f￿htiTrj the trafficking and expk)itation of n and tws. GFCS implementation approxh emphasises bulding dliances and ￿e￿￿rkS across its local partner5 to supwt colleth.ve action, induding ¢ommunity-wth, locally dnven policies and legal prO￿tionS to ensure that children and youth are wovided for and protectéd. and paiticipate in the fiAI real'sation of their rwjhts. The Global Fund for Children UK Trust 4 Report of tho truslees 30 2023 GFC'S programm• fo¢u• {continued) Impactand sustalnatsl In the last 29 yearn. GFC has transf0m￿d INes of rn￿e than 11 million chlldren worhjwbje by SUPFQrting meaningful change ￿ere it stands lo do the most good.. in the heart of Con￿lnitIes. In the same period. GFC has identified urfer 1,000 local organisations rTh)re than 75 countries and supported them wilh grants and te¢hntsl assistance totalling over $68 mllion. On average. partners. ￿dgets triple during I￿r GFC partnership. enatAing them to expand the size and impa¢t of their prcgrammes and to rexh greater numttrs of children in mo and better way5. GFC partners have been honoured with hundreds of national and temational awards in ￿Ogn￿lon of their worK including 11 World'5 Children's Prizes, 37 Ashoka Fellthvships, eight CNN Heroes Awards, and 9 With and For Girfs Awards. Achlev•m•nts and pIrf￿nCe 2022f23 saw the UK Trust invest sgnfficanty in the team and bJild the infrastructure needed to SUPFM)rt the ￿ntinUed growth that the org￿lsatIon expert&nced in the previous financial year. As a result of rrKJre swJnificant growth in ￿ team and F￿￿raMrnes delivered, tsme was spent searching for a bigger office. and in Juty 2023 the team moved into their new spa￿. ended the fin￿la1 year wth three staff joining dunng this lim8. and fNe trK)re stsff accepting roles be9￿ in the next few months in the follcming financial year. This includes a new Finan* Manager arml full-tin* Designated Safeguarding Leaj. In 2022r23, tr¢ UK TnFSt tegan new fundirKJ relatI￿5￿1p5 with Cowop Foundation. Youth Endcw￿￿nt Fund, Foundathm CHANEL, The National Lottery Community Fund, #iwillFund and The Uoyds Bank Foundab"on for EngLqnd and W￿e$. The UK Trust has experienced an increase in income this year. wh￿h is Ihe result of work completed in 2021122 as ated in last yeals financaal report. Our team has also continued to work with our colleagues around the wodd to ensure that GFC has globally grown incoffe. As a resuK GFC wll report $35.6 millKffi in revenue fot year ended 30 June 2023 in rts Consolidated statement of activiti'es. In the UK, ￿ a￿ fewrting £15 mimion in revenue for 30 June 2023. London Week In early JurE 2023. methr5 ofGFC's gknbal team tsme tOge￿r in London to host a series ofevents throughout a single we* showcasing the incredible w￿k of both the organisation and our granlees. More than 1(KJ peWe att￿ded a variety of events. highlighting the diverse range of work taknng place, induding our UK-based healthy masculinits'es initiative. as well as our inTh)vali¥e approach to y(Arth4ed grdnt makin9. Throughout the week we esta1￿1$h￿ several and exoting relatM)nships that could be transkrfmative for GFC'S global work Th￿Ing fcThard. Klcluding but not lin¥ted to: Chatham House, PLAN Internath￿al. Banng Foundation, Anwify Chan9e. and the SHM Foundation. The Global FurKI foi Chiklren UK Tntst S Rèport of the trust••• 30 June 2023 Achi•v•m•nts and wrfomiance (continued} GFC'S gran¢mWngprogramme In 2022123. GFC awarded $7.5 mTllion in grants. Amost all the grants were restricted to specific funders and met a deliverable tQ4vards the funderfs support. Iriduded in this amount were 35 grants made directly from the UK Trust to GFC grantee partners, which totalled £1.8 millim as primary grants supporL Suppl•m•nt•l grants In many caw, GFC was able to offer additional grants lo its I￿1 partners thal supplement the primary grants. These grants indude organisational development grants. wh.ch support areas such as strategic planniThJ, financial and management infonnation systems. monitoring and evaluation. and fundraI￿ng. opporbJnty grants, whth support pathers io attend Confe￿A￿ or trainings or develop their organisati¢)nal visibility and capacty., emergency grants. which help pathefs in e￿￿nJencY situations such as post-disa5ter relief,. and convening grants. which alkMI Partners to organise their own workshops for sharing knovAedge wilh other GFC partnws organisations in their netsvork& In 2022123. GFC awarded 292 supp￿mental grants. Included in the supplemental grants were 15 Supplen￿ntaI grants made in G8P diredy from the UK TrusL These totalled £148,332. Safogu•rth'ng chlldrnn andyouth GFC ¢onb"nue$ to centre safeguardiThJ in the orgaThsation with all new stsrters receiving safeguarding training and all other slalf receiving refresher training. In the upcoming financ4al year 2023124. GFC will be onboarding a full4nk Global DeswJnated Safe9uarding Lead IGDSL). This role wrll focus on devdoping a rw safeguarding pc4icy and procedures that refiect the grThving Size and changin9 work of GFC. They will also te developing the intemal safeguarding capxity of GFC. In addition. the GDSL will be reviewing wr cjjrrent safeguarding support offw to grantees to ensure we are supporttng grantees in a meaningful and contextualty rebevant w￿. Flnanclal reviv R•$ults for th• Yw ond 2023 Y•arond 2022 Tcrtal in¢*me £15.289.780 £1.438,137 Restricted nts £14.797.1C6 £958,S61 TO￿ eX￿nditU Chaiitatrje expeThJilwe (ThJudiThJ supwxi £2,905.344 £1.715.679 £2.788.7 £1.646.4S9 £69220 £136,588 Grants awarded £1.957.373 £12.384.416 £593,601 Net lexpenditure) 1£277,5421 The Global Fund for Children UK Trust Report of the trustees 30 June 21Y23 Flnancial reviw• (continued) Results for the year (continu8d) Fiscal year 2022f23 has been an excwb'onal year for GFC. Not only did the UK Trust furbdraise £14.267.358 in three mults".year woiecls indudiThJ the Phoenix Fund Inits'ative, the Boys aThl Young Men Inibatsve. the Wi 11 project, the US office received $10 million from MacKenzie Scott in the same financia year. Cknll. the global revenue for the US and the UK Trust comlmned increased from $13.9 Mill￿ in 2021122 to $36.38 million in 2022123. Fiscal year 2023r24 is off to a great start as well due lo the lo¢kn"ng in of £4.38 million over three years grant towaTds the Ywng Gam&hangers Fund initiative to ￿￿ke grants directty to individual youNJ people throughout the UK. Reserves pollcy and flnan¢ial posilion The UK Trusl has decided that it would be prudent to hold as a minimum. an equlvalent of Th)nths' expenditure for stsff and overhead cx)sts in reserve, vthich amounls to approximatety £85,(￿0 for the new financral year ending 30 June 2024. At 30 June 2023. the total fijnds of the charity, which a￿ equivalent to its f￿e reserves. an￿￿nted to £462.39912022 - £406.068). Free reseNes al yearond therefore satisfy the ab)ve feseprfes poly. Any available bala￿e atM)ve this linNt is part of our regular operating cash. whth 1$ available to meet the onwng needs of organisation. Thè Board of Trustees Teceives and revievts a revenue and expense dashboard. with an update on hflow and reserves. on a regular basis and create a plan to reduce costs rf reserves are forecast to dip below an agreed￿pon threth)Id rr￿nthS in the future. GFC will continue to provide cash IkM assistance to the UK Tntst rf ￿ lor the upcoming year. In%Tslmentpollcy At wesenL the policy for the UK T￿￿t is to invest onty in cash deposits. Fundralslng The UK Trust aims to achieve best pr&ticé in the way in whth it communicates with SUPF#Xters. It takes care wrth both the tone of its communic3tions and the accuracy of its data lo rinimise the pressures on SUPFrfXters. chanty registered with the Fundraising Regulator in eaty July 2023 and •Jheres to Ihe Code of Fundraising Practice. It applies best IxxtKe to wotect supporters, data and never sells data. it never swaps data with other ¢y9anisations. and il ensures th* rts conNNnication preferences can be changed at any time. The charity manages its rJ*m fuTr*aising activiks and does employ th& semces of rAofew'onal fundrarsers. The Charity undertake5 to react to and invesb'gate any complaints regarding its fundrai&ng activitw arKI lo leam from them and improve its serv￿. During 2022123. the ¢harity received no complaints atrnut its hjndraising activities. The charity raises funds forthe programs rl IM￿Ments in the UK and globally and in some cases makes grants to supp(xt the work of its Us-based affiliate. The Global Fund for Children UK Trust 7 Report of th• tru8t••8 30 June 2023 Principal rlsk$ and uncertalntle• The trustees and key management personnel carry out ￿ annual Risk Management Review. The trustees rewew these risks ￿ an ￿nYa1 basis. at a minimum. to satssfy themselves that adequate systems and procedures are in place to manage the risks J¢nts'fied, and to ensure that appropriate mth"9ats"ng actions are tsken. Ihhen completed. this review rs dctumented in the rrinutes ofthe re￿vant meetirrfj ofthe trustees. As lfre UK Trusl relies on donations, Ihe principal risk is the impact of the econombc dimat& for grant fvnding and donations. An evaluats'on is made of potentkql and actual funding events to ensure that the UK Trusys resou￿ are used in msl effe￿1ve manner and achieve value Jney. 01 course. like many charilies. the UK Twsl is impacted by the gbbal Cost ot living crisis and worf¢ts'de financial instsbilty ar*J its effect on charital￿e giving. Thi$ poses a risk to the UK TrusL but a150 an OPFQrtunty to play a leading role in facilitating funding flows to organisations workirvj directly with affected communib.es gbbaly. The Board of Trustees receNes and reviews the revenue and expense dashboard on a regular basis. This dashboard prov*Jes an update on cashtkm and TeseNes thng with a plan to redu￿ costs if reserves forecast dips behjw an agre¢&up)n threshdd of six trK)nths in the future. In this way, the UK Trust and GFC can react quKkly to changing eorKlitions and any shocks to the revenue ppeline. Plan8 for futurn perlods In 2022r23, the UK Trust covered its ry•ffl costs for the whok year and ￿enefitted from operational support from GFC. In 2023124. this will c(￿tinUe as the UK Twsl continues to grow and raises new revenues of income. Durin9 2022123. the UK TTUSt had begun new partnerships with Youth End0WTh￿nt FuTrJ, Th• Lbyds Bank Foundation for England and Wales aYI Foundation CHANEL for a new Tound of Phoenix Fund grants. These Ihree-year partnerships will make ￿)re grants to England and Wales based black and nNnoTitised community groups who o)nb'nue to strug9le to recover from the cosl-of4iving ¢risis and tts devastating economic impacts. The UK Twst also ¢ontinLW to play a key role in Taising emergency funds for crises, as they happen around the W￿ld, aThJ will continue to work with rw corrorate partners and individuaL% in response to these emergencies to raise flexible Incon￿ which we Can (h'sbjrse efficienUy and safety. In 2023r24, GFC will begin the new £4.38 million. threwear partrhership. wrth Co-op Foundation. *wilFund, Resuess Developn*nt and GFC. to make grants di￿¢￿ to irrtlmdual young people throughout the UK. The Bo¥d of Tnjstees ate aware a challenge remains, as th8 worfd ¢ontinues to operate within gh)bal e¢onony¢ instabAity. and it will wcwk closety with the Global Managing Director to ensure koy decisDns are made at critical times. Cap• issues continued to be addressed in 2022123. 2023r24 will be rn￿ f¢¢used on ensuring that the UK Trust is a great place to work with the addibon of a n•v HR advisor. The UK team are embedded fvlly in the gbjbal infraStr￿lUTe and are supportirs organIsat￿ WKle obJe¢bves, in line with our new fNe-year strategic vision. The Board of Trustees VAI continue to develop. plan. and launch new inrtiatives to Oxpand the UK Tnjsys donor base. The Global Fund for Chiklren UK Trust Report of thè trustW6 30 June 2023 PlanB for lulur• p•riods (rxjntinuedl The Board of Trustees also looks fomard to collaborating ￿th the GFC staff to continue a series of matching campawjns arKI virtual events lo ensure that suftient un￿StriCted fvnds flow into the UK Trust after witnessing their success in the last financial year. for example, induding a matching campaign to support three GFC staff members who ran the London Marathon in October 2022. which raised £50.000 for the oryJanisation. 2024 is Ghjbal Fund for Children's 30th year. The organisation has a range of projects, events and Carrpa￿nS planned throughout the year to acknowledge this. GFC plan to celebrate pr(¥Jress and Irn￿t. even 1ftwrtan￿y to shine a light on the significant and urgent steps that need to be made aroLKKI the workl to make a fairer. safer and healthier luture for children and young p80*. A key nvr*nt t*ing place Ni Lcmdon is a fuThJrarsing gala on 30 Awil. The theme of our 30th AnnNefsary GaLq". On• W¢xld. One childhood￿11 be evident throughout the evening as we Sha￿ ourwork past and wesent. and our future calls for action with a specially invited grwp of trustees. funders. and supporters. okl and new, all enKeed by GFC'S global ambassador and Effmy award winner. Zuri Hall. This moff*nt has also provKled an opportunty to connect and ￿lId relation$hip5With a high4evel wnmittee ofnew supporters and contacts to expand our ne￿Ork in the UK and Europe. So far. we have sponsorship commitments totslling £110.CiKI wrth a strong PiFeline of wospects lo xhieve our goal of £1 million. Key managem•nt romun•rnlion pollcle8 Key management of the thajity is regarded as ts trustee5 and the Managing Director and the Deputy Directcff. The trustees give tsir fredy. and none of the trustees recebv&J muneration in the year. The Managing Directorfs remunerat￿￿ is set by GFC, with consKleration from the UK Board of Trustees, and is review￿1 annualty. A number of criteria a￿ used in s&tting pay.. the nature of the role and its respmsibilrties. competitor salanes in the global sector, and the sector aver>3e 5*ry for OJMparab￿ positions. End-of-year FerfomBnce evaluations. where goals and tar￿ts are se( are reVW￿ by the trustees and the CEO of GFC. Golng ¢onc•rn The trustees assess whetherthe use of going ¢orKem is appropriate, i.e., whettr*r there are any material uncertainties related to events or condth'ons that may cast significant doubl on the ability ofthe chanty to ¢￿tr"nue as a going con¢em. The trustees make this as$essment fora pen'thj 0f￿e year from the date of approval ofthe finarKial stal&ment* After reviewing the UK TDJSt's forecasts and prqecfy)ns, the trustees have a rnasonable expectation that the charity has adequate resources to continue its operational exISter￿ for the f￿Seeab future. The key fxtors for this exFeclation are as follows.. The UK Trust Board 1$ confident that the senit)r managern*nt team in the US and the Global Managing Dir&tor in the UK are well tsed as GFC enters a new phase of discovery and innovation. The Global Fund for Children UK Trust 9 Report ollhe tntstoes 30 June 2023 Going concern {continued) The UK Board is fully committed and is k¢knng forward to another successful year of bringing in new resources. expanding our rexh, raisiw awareness and funding the ft)refront ol social change. The UK Team. with the support from the US off￿. will continue lo establish partnerships UK and European based inst'tub"ons with a focus C￿ t*)th domeslic and intemational based programming. The fully integrated US and UK Team will continue to find opportunities to introduce board members to pthers and conne¢b"ng tt)em thoughtfully with GFC'S work. The UK Trust wll continue to support th? grtywth of FSC and ensure its sustainability by seGuring SUstsinab￿ investsr*nt. GFC wfjll conts'nue to provhje cash ficwi asSistsr￿e to the UK Twsl if needed for Ihe upco￿1n9 year. Tru8t•eB' rnsponslbllltl•s statement The trustees (who a￿ also directors of The Global Fund tr Children UK Trust for Ihe purposes of company kw) are resp)nsible for preparing the trustees. reFrfYt and financial statements in accordance with applicalye law aThJ United Kingdom Accounting Standards (Unrted Kingdom Ge￿Ialty Accepted Aca>unb'ng Prxtice). Company law requires ts tNstees to prepare statements for each financaal year whth give a true and fair view of the state of affaiTr of the tharitatle company and of Ihe Inco￿ arKJ expenth'ture of charitable coffwny for that pwiod. In preparing th8s8 finanual stalements. the trustees ate required to: • sdect sulta￿e xcounting poiwies and then apyy them consistenuy., • observe the N*thods and pl1r￿1￿￿e5 in A￿ntIng and ReForb'ng by Charitios.. ststerr£nl of RecommeNJed Practice applicable lo charilies Fryaring their accounts in accordance wth the Financial Repo￿"n9 Stsndard applIcat￿e in the UK and Republic of I￿land IFRS 102)- make judgements and estimates that are rea5￿able and prudent, • sl* whether applicable United Kingdom Accounling Standards have been followed, su*.￿1 to any material departures (tisckwj and explained in the financial statements; and • prepare the financial statsments on the g)ing COn￿M basis unless it is inappropriate to presume that the chaiiiable company wll continue in operation. Th& Global Fund for Children UK Trust 10 Report of Iho trust￿ 30 June 2023 Tno1e•s' rnsponsibilitle8 8tat•m•nl {¢ontsnued) The trustees a￿ ffjsponsible for kwxng woper accounting records thal di$¢k)se with reasonaue accuracy al any lime the financial pwtKJn of the ¢harrtable company and enablo them to ensu￿ that the ffinan￿aI statements compty with the Companies Act 2006. They are so ￿SPonsIble for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevents.on and deteC￿)n of fraud and other irregularities. aith of ts Iwstees that". • $0 far as the trustee is aware. thwe is no televant audit information of which the ¢hant*e cOffp￿S auditor is ￿n￿Ware.. and • the trustee ha$ taken all the steps that helshe ought to have taken as a trustee in order to make himseltherself a*4are of any rthvant a￿lIt infom)at#)n and to establish that the charitable company's auditor is a¥dre of that infom*ts'on. This LX)nfinnation is given ￿K1 should be inierpreted in accordance with the provisDns of 5418 ofthe Companies Ad 20C6. The trustees are resFwisible for the maintenance and integrity of the co￿￿rate and financial infr)rffotion induded on the chartlable o)mpany's website. Legislation in the United Kingdom goveming the Fryarab'on and dissemination of financlal statements may differ from *i￿atIOn in otherjurisdictions. Apwoved ty the tnjstees and signed their behalf by kJi￿(S￿j CHFJI TTuslee Approved on.. 09 - 03- L The Global Fund for Children UK Trust 11 Independent auditovs raport to 30 June 2023 Ind•p•nd•nt *￿tt0￿8 roport to the members of Th• Gl¢)bal Fund for Chlldren UK Trust Wa have audrted the financ4al statements of The Global Fund for Children UK Trust {Ihe 'charitable company'l fc* the year ended 30 June 2023 which ￿MpriSe the statement of financial activities. the balance sheeL statement of cash flows. the principal accounting )licies and the r￿teS to the finanoal statsnwts. The fmancial reporting framework that has been applied in their preparatK•n is aprdicable la•V and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 Tr Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generalty Attepted A¢￿￿ntIng Practice). In our opinion, the financial sLqtements'. give a true and fair view of the state of the tharrtable conwany's affairs as at 30 June 2023 and of its income and exFendiiure the year then ended.. • have been protEdy preparwj in ￿￿[dance with unl￿ Kingdom Generally Accepted A￿xI￿nti￿j Practice.. and • have been prepared in accordaKe wilh the require1r￿niS of the Companie5 Act 20)6. 8asl¥ for oplnlon We conducted our audit in ¥cordanc£ with Internati￿al Standards on A￿J111r9 {UK) IISAS IUKI) and appIl￿b￿ Lqw. Our reSP￿s1b11lIieS under those standards are further dfrscrib￿ in the auditorfs responsibilities for the audrt of the finanaal statewents section of our report. We are independent of the Charitab￿ company in a¢¢ordance th the ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other eth￿1 reswnsibililies in accordance with these requirements. INe believe that the a￿[1 eviden￿ we have obtained 15 sufficiont and appmpriate to provide a basis for our opinion. Con¢lu8lon8 relatlng to goln9 COn￿M In auditing the financial ststen*nts. we have wn¢luded that the trustees. use of the going ¢on¢em basis of accounting in the preparatpx of the finarrial statements is appropriate. Based on the woth we have performed, we have not identrfied any material uncertainties rdating to events or conditions thal, individualty ￿ collectively, may cast &gnificant doubt on the charitable company's ability to continue as a going corKem kfyr a period of at least ￿1ve rrnnths from when the ffina￿al stateffwts are authorised for issue. Cjjr respons11mlrt￿ and the respThibilrti6s of the trustees with respect to going concern are descnbed in the relevant sections of this ￿pOrL The Global Fund for Chlldren UK Trust 12 Independent audltofs report Year to 30 June 2023 Other Inforni•tlon The other information comwises ts infomwtion Incl￿ in the annual report and financial statements. other Ihan the financial statements and our auditorfs rep)rt the￿on. The trustees are responsible for the other informalK)n contained within the annual report and financ4al statements. Our opinion on the financial stslements does not cover the other infom)alion ￿d, except to the extent othemse exF4iryty stated in our report. we do not expffjss any form of assurance o)ndusion Ihereon. (￿r responsibilty is to read the olher nfommtion and, in doing so, consijer whether the other infomwtion is materialty inconsistent with the financial stateTh￿nts or our kncthledge obtained in the Course of the audit or othe￿iSe appears to be materialty rr4s$tated. If we identify such material inconsislencies or aFvarenl material misstslements, we are requiTed to delemine whether this gives rise to a materiai misstatement in the financial statements themselves. If, based ￿ the w(wk we have perf0M￿d. we condude thal there 15 a material misstatement of llis rAher infmtion, we a￿ required to report Ihat facL We have nothing to report in this regard. Oplnlon• on thr matters pr•scrfbgd by the Campanles Act 2006 In opini(￿. based on the work undertaken in the course of the audit.. * the infomwtion given in tre trust￿. rep)rt, 1*h￿h is also the directors, reFQrt for the purposes of ¢ompany l*w, fcy the financial year for which the financial statements are p￿Pared is con￿stent with the financial statements,. and • the tNstees' report, which is also the director5. report for the purposes of company law, has been prepared in xcordance with applicable legal requirements. Motters on whkh w• are r•¢wired to report ty excwlon In the light ofthe kJKy*l￿ge and underntanding Of1￿ Charitable u)mpany and rts environrnnt ijbtained in course of the a￿]11. we have not ￿enIff￿d material misstatements in the trustees, report. We have nothing to reFKKI in resFrtt of the following matters in relation to which the Corrwnies Ad 2C#)6 requires us to report to you rf. in our opinion: adequate accountirvj recoTds have not been kepL or returns adequ* foi OUT audit have rKst been receNed from branches rnt visited ty us: or • the ffinan￿al stsiements a￿ Th)t in agreeTh￿t with the axounting records and retums., or • c%rtain disCh)sU￿ of trustees. remuneration spwified by law we not made: or • we have not recerrfed al th& x)formation and explanatims we requre for our audrt.. or Ihe Iwstees were not entrfled to wepare the finartial statements in aco)rdance with the smdl companies, regiff* and take advantage of the small ¢off¥)anies' exerrptions in preparing the trustee5' report and from the requI￿￿nt to wepare a strategic report. The Gknbal Fund for Childm UK Trust 13 Independenl audltorf8 report Year to 30 June 2023 R•sponsibiliti03 of tr￿t••$ As exFAair*d more fulty in the trustees, wp)n$*Jilities statement, trustees (who are also the director5 of the charits￿e cOw￿anY for the purposes of company lawl are ￿spOnsible for the preParat￿)n of the financial statements and for ￿n9 satisfied that they give a true and fair view. and for such intemal control as the Irustees detemine 1$ ne¢essary to ena￿e the preparation of financial ststements that are free from material misstslement, whether due lo fraud or erTOr. In preparing the financid statements. the trustees are responsiile for a$s￿n9 the charrtable cc¥npany's ability to continue as a goiry conc￿. disclosing. as applicable. mattets rèlated to going ¢c￿cern and using the going concern basis of xcounting urtess the trustees either intend to liquidate the chwitabl? company or to cease op8ral'on$, or have no reaistic altemative but to do so. AudiloVs r•sponsibiliti08 for th• •udit of th• fin•n¢lal $tatThnls Our objectives are to obtain rea￿nable assurance al)out whether tho financol $t*ements a$ a whcAe are free from material mIsstate￿￿nt. W?￿er due to fraud or error. and to issue an auditsls report that incfudes ouropinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS {UK) will ahvays detect a material mwtatement when it exists. MisstateM￿ts Can arise from fraud or error and are considered material rf. indi¥idualty or in the ￿gregate. they could reasonably be expected to influence the ecoMmic decisions of users taken on the basis of financial $totements. Irregul¥It￿S. inckKling fraud. we instances of non-compliance wth laws and règulab'ons. We design procedures in line wih our responsibilitses. out11￿d above. lo detect material Misstalef￿nts in respect of irregularities, induding fraud. The extent to which our procedures are capatrAe of detecb.ng irregularities, induding fraud is detailed below.. Our approach to Klentifying and assessing the risks of material misstatement in respect of irregularities. including fraud aTrJ Don-c￿larKe with law5 and Trgukb'ons, was as follows.. • the engagement partner onsured that the engagement leam colleclively had the appropriate conyeience. capabilitie5 and sktlls to idenbfy or wnise n¢)nn: Rai*ry fvr*J$ Chark4ble . Grants 0￿rd￿j and Pioi•¢i costs . SuFPOrt costs TOW •xp•ndlknu• 136.688 69.220 69.220 144037 1227W 1371,898 31,748 365.112 396.860 312.373 2.592.971 190S.314 .471,S27 1.471.527 77.621 97,311 774.932 146,841 1.568.838 1.715.679 Il•t 11K￿e(•xPWkn1ltUre) 66J31 11321.lw 1130V16 147,686 1435,228) {277.5421 Trnnsl•r8 (3.4911 3.491 56.331 12J2406S 1IJ84A11 154.195 1431,7371 1277,5421 R•¢ondll•tlonrffvTrd•: Fund bak3nc•s W fon*rd at lJuty 406.068 6•7M6 993,164 251,673 1,018,823 1,270. Fund ￿lanC88 ￿lI18d lo￿￿1 30Jw 462J99 11915.171 11377.670 4C6,IA8 587,086 993,154 All of the charity's a¢tivits# denved from conlinuing opwall￿5 during the ats)ve Iwo financial years. All recognised gains and10sses are included in the statement of financial &*ivities. The Gk)bal FuTrJ for Children UK Trust 17 Balance Sheel as at 30 June 2023 2023 2023 2022 2022 Notes Debtors Cash at and in harAI 9 9.237.085 4.327.236 13,565.121 207,828 848,815 1.056.643 Lothlltkn: Cre¢&tors'. amowrts vriUM"n one ytrar Net current a￿ets 10 1187.551 13Jn,570 {63.489 993.154 Tolal nel 48s•ts 13.377.570 993,154 fundb of tho charfty: Unrestrthd funds . General l￿d9 462.319 462.399 11915.171 13.377.570 406,068 587.086 991154 The notes on pages 24 to 33 form part of these financial statements. Apwovèj by the Irustees and signed on their behalf by: 4 ILS(TrJ 0-4q,Q Trustee ApWoved￿. 01.03.L Company Re91straI￿n Number. (￿031876 (England and v￿leS) Charity RegIstrat￿n Number. 1119544 {England Wales) The Gk)bal FuTrJ for Children UK Trust 18 Slatement rf cash flows Year to 30 June 2023 2023 2022 C•$h flow* from operatlng aGllvltl•8: Net cash woYK*d by {used inl operalirwJ aclMt*$ A 3.476.313 {20S.2851 Ca•h flo￿ from In￿11￿ acllvltl•8: Interest reLeNed Net ¢a•h provided ty In¥••thry aGtl¥ltles 2,108 622 822 Char8• In ¢a8h •nd ¢quivalents in the yev 3.478.421 1204.663) Ca•h and cash •qul¥al•nts at l Juty 848.815 1.053.478 Cash and c•*h •qulv*rts •t 30 Ju B 4.327.236 848.815 Notes to the Statement of ¢ash flows for th• year to 30 June A RKon¢lllAtlon of n•t M￿•MOnt In funds to net ca8h wovlded by op•ratlng aetiviti 2023 2022 Net mov￿n0nt In fund• la• perth• 8tstem•nt of fina￿1•1 •¢tivitie¥1 12,384,416 AdIustrn￿ts for. Inleresl reC￿Vable (Inueosel decrease in deblcrfs Inuease in L7•ditLVS ltst eash rovldèd by IuB•d In) owall {277.$42) (2,1081 19,030,057) 124.062 3A76.313 1622) 60,874 12.205 (2¢A.2851 actlvltla• B Anatysls of changes In net debt 2022 Cash fflows 2023 Cash at bank and in haThJ Tolal cash and ¢a•h equivalw 848,815 3,478.421 848.815 3,478.421 4.327,236 4,327.236 The Global Fund for Chihjren UK Trust 19 Principal accounting policie• Year to 30 Juné 2023 Bas1• of preparatlon The principa %¢ounting pcAioes adopted, judgements and key swr¢es of estimatson uncertainty in the prepara¢K￿ of the fnanaal statements are laid out bdThv. These finanaal state￿￿ts have been prepared for the year to 30 June 2023, wlth cc*nparative Wrfomwtion provided in ￿K￿Ct of the year lo 30 June 2022. The financial statements have been prepared underthe historical cost conventKin with iteTh recognised al cost or transxtion value unless otheTrwse stated in the relevant accounting poI￿leS belcm or the notes to these financial stsiements. The ffinantyal ststements have been prepared in ￿0￿**ce with A¢counting and Reporting by Charities.. Statement of Recommended Pra¢tt¢ applicable to charities preparing their accounts in XCOTdance ￿th the Financial Reporting Standard apph'cable in the United Q'ngdom and Republic of Ireland (ChaT￿e5 SORP FRS 1021. Ihe Financial Reportlng Stsndard applicable in the UK and Republic of Ireland IFRS 102} and the Companies A 2006. The charity constitutes a wblic ter*ffit entity as define(I by FRS 102. The finan￿1 slatements are presented in *erting and are rounded to the nearest pound. Crltlcal accounllng e8llmates and areas of Judgemeni Preparation of the financia stslements requir￿ ts truslees and managwnent to make gnificant jUdg￿nts and estimates. The item5 in the finarTh4 Statett￿ts where these judgements and estimates have been made indude: • the alocation of staff costs belwaen supwt costs. expenditure on raising funds and • estimates made in TelaiK)n to fulure income and expendtture Ilows for the purpose of assesgng wng (￿rn in the luht of the ongowlg Cwlavirus pandenNC. A$s￿ment of golng cO￿¢M The trustees assess whether the use of gThng con￿rn is appropriate.. i.e.. whether there are any matenal uncertainties Telaled to events or conditions that may cast significant doubl on the ability of the ¢harty to continue as a gcing wi¢em. TtrE trustees make this assessment a p8nod ofone yearfrom the date of apprtyal oftho fina￿la1 staten*nts. After reviewing the UK Trusfs forecasts and projecb'ons. the trustees have a reasonable exFe¢tation that the charity has adequate resources to u)ntinue rts opeth.onal existence for the foreseeab future. The key fxtors for this expectation are as folIc*￿'. The Board is confident that the sen￿r management team in the US and the Global Managing Director in the UK a￿ weu piaced to l&•J GFC through this rA)ntinued grovAh. The Global Fund for Children UK Trust 20 Prfnclpal accountlw polklo6 Year to 30 June 2023 Assessment of golng ¢onum (conts'nu&Jl The Board is fully ccNnmitted and Ks rooking foThYard lo another su￿$$fvI year of bringing in new resource5. expanding our reach. raising awareness and fun¢Jing the forefrc￿1 of social chan9e. Vve were pleased to welcorre a new board rfftmber in April 2023. Sonal Palel. and contr.n￿ lo enp)y full and engaged support from the UK Trustees. • The UK Trust with the SUPFiYI from the US office will continue to establish partnership$ with UK and European based inslitulions with a ￿u5 on both domestic and international based prcmjra￿Th1n9. • Thè fulty integrdted US and UK Team will continue to find opportunities lo inlrodu new board members to partners and connect¥ig thern thoughtfully with the GFC'S work. GFC will stsrt srnaN. in-per50n dinners and events to expand its ¢J)nor base as r•stittsons begin to ease. The Trust will I￿ther its fundiNJ relalKyBhip5 With institutions such as Laudes Foundalion, People Postoxle Lottery and Fondat￿l Chanel. Fundets Safeguarthng c[￿laboratiVe {FSCI wll conltnue to build on its membership nehyork and provide technical suppjt and training on mattets related to safeguarding. • GFC will continue to wovide cashfhxi assistan￿ to the UK Trust if needed for the ￿￿)rnIng year. T￿ trustees have therefore cotKluded that there are no material urwlaintEs ￿lated lo events or conditions that may cast Sl9nifKanl doubt on the ats'lty of the chaTty lo continue as a gryng concem. and that the use of the going conc8m basis of pre￿ration for these financial siaterr*nts is appropriate. Incom• rKognitson Inconx is re¢ognised in the penod in charity has entItle￿￿t to the income, the Junl of ino)me can be measured rel￿bty and it is probable that the incoThE will be rec£ived. Income c4)mprises donations. grants from Irusts, aNI interest receiva￿e. Donations are recognised when the d￿lIty has o>nfirmation of lth the arrthnt and settlement date. In the event of donab.ons pwjed but not recerv&l, the amunt is accrued for Whe￿ the ￿&pl is considered probable. In the event that a dOnat￿)Th is subject to ndilions that require a level of perfomBnce before the charity is entitled to the funds, the incom8 is deferred arwj not recognised unts'l either those conditi￿S are fulty mèt. or the fulfilment of those conditions is vtholty within the Contrd of the chanty and it ts probable thal those conditions will be fulfilled in the r¢p)rtrng per￿. Ilthere donors specify that donati￿5 and giants must be used in future wjunts'ng periods. the iro)ff* is deferred. The Gkjbal Fund for Childr&n UK Trust 21 Prfnclpal accountlng pollcl•8 Year to 30 June 2023 Inc This is stated after tharging.. 2023 2022 A(*Jitorfs renNJneralK)n . Audrt ser¥us . Other servw 16.81x1 20.029 12.636 16,982 S Staff coot8 2023 2022 SaL8ries wages 481.718 52.960 $4,240 588.918 317,700 31,862 6,231 355,793 2023 2022 Swnmary of staff costs: . RaigThJ funds . Project ￿315 136.588 335,759 116,571 588.918 69.220 253,538 33,035 355,793 2023 2022 £60,CQO. £69,999 £70,CQO- £79.999 C￿,000 . £99,999 £120.CW- £129.999 Contributions of £30.796 {2022 - £3,522) were paKI for the prowsion of money purchase pension beneffts in respect of these e￿WOyeeS. The average nunknr of employees during tre year was.. 2023 2022 Full tlm• Part tlm• F￿1 time Part time Average wmb No trustee. or any pers￿ O￿nected to Ihem. ￿￿eNed any reimbursement of expenses during the year {2022 - none). Key management p•rnonn•l The key management personnel of tt)e charity in charge of directirrfj and conlfolling. running and operating the Charity on a day4041ay basis o)mprise the trustees and the Managing Director and Deputy Th're¢tor. The total remuneration an￿Unted to £206,181 during the year {2022 - £133.7401. The Gk)bal Fund for Children UK Trust 26 N￿$ lo the financial statements Year to 30 June 2023 7 Taxatk)n The Global Fund for ChikI￿n UK Trust ts a registered charity and therefo￿ 1$ not liable for income tax or corporats'on tax on incoff* derived from its chaiitable activit￿. as rt falls within the various exemptMMs availab￿ io registered tharit￿. 8 DelAors 2023 2022 Grants Teceivable ArTh)unts frcffl related pwbes 9,061,960 89,420 86,SOS 9,237.885 103.9)1 103,927 207,828 9 cr￿lt013. Amounls falllng du• wlthln on• y•ar 2023 2022 Arnurts wng to related pari 12.707 35.341 63,164 101.154 23.233 187.551 Grants pay￿le 15.441 63,489 10 Restrkted funds At 30 Jun• 2023 2022 Exper*Jbturn Tr•n*r# PEAK cykn's Posi¢tsJ& Lthy Nat￿TraI Lotlery Comiun4y Fund . ￿ and Your4J Mgn Inli4tr¥e 132.2331 1198.7331 198,733 499.910 114.54T) 120.386) 141,99n 486.363 FurKI Fur*Jws Safeguath Co￿￿ti￿rn 48.938 6.941 119.102 (133,59n 1115,954 1168.230) 11,855.761) 314,963 8.23J 34.0$8 11.761.688 300.000 38,519 Fthoeniy FUTr1 Young GaMed￿gU8 FuThl Othef ￿$Irt￿ Funds 13,617.449 11.533 587.oe6 14.921.056 111.533) 12.$92.9711 12.916.171 The Gbbal Fund for Children UK Trust 27 Notes to the flnanclal stalem•nts Year to 30 June 2023 10 Re8trlcted funds Iconknued) AiJuty 2021 At 30Jun8 2022 . Boys èrrtl A*n lrnb&ti 116.320 84.2 (116.320) (38&497J 194,733 504.842 104.803 468.891 (6H.285J (10&428J (142.704J (50.337J (&130) 329,448 FYThTrx F4#b 14&538J 20,386 4.301 11.43¥ Olher (11.327) 145.329 1.133.610 (106.810) (1,568.838) 38,519 587.086 i.oia823 3.491 Th• Partnevshlp to Educate All Klds (PEAK) Inltlatlv¢ In 2021r22. with support from the Lego Foundatr)n. Global Fund for Chlldren IGFC) launched the Partrership to Educate All Kids (PEAK) initiative. supports.ng 66 communrty- based organisations in len counirEs xross the knEricas. sub-saharan Africa. an(1 South Asia. PEAK partners a￿ helping children fxing pandeM￿-re1ated education disruptions access and thrive in leaming environrrents. using learning through pw methodologies to promote their holist￿ leaming and development. As part of the initsab"ve, GFC wovides partners with primary and supplementary ffextble funding. capaoty development support, and neh¥orking opl￿ri￿nI￿¢s. In its first year, GFC disbursed US$945.000 in priffAry grants to its globa cohort and they. in tum, rexhed 77,355 children and youth in 8anglade$h. Brazil. ColomiHa. Ghana. Guatemala. Indta. Kenya, Nepal, Uganda, and Zambia. Fifty41X per￿ntI43,247l were children ttheen 6 and 12 years of age. GFC is delighled with partr*rs innovating due lo its support. retM)rting 168 new aclNities or projrammak change5 in PEAK'5 ffir5t year. 93% directy supported by GFC. Eighty- seven percent of these changes applied leaming Ihrough play. ￿COMpa$s1ng arts. ¢rats, competiti'ons. mU￿c. literacy. ICTS. and STEAM. For instance, partnets in Brazil and Zambia use native gamès for soualisation and discussions on identty, ojllure. and values, while partners in Guatemala and Colombia supported Child-￿ advocacy efforts and empowered children lo tfftik the Culture of silence through marches and walks. In th& initiative's second year. GFC Conts'n￿1 wovidirs direct capacty develOp￿￿nt and convened partners to threè regionally. in-person meetings in Colombia. Uganda, and Nèpal. The idea was to bring partners together in meaningful and energetic spaces that would spark new connections and ideas Within their different regions and allow them to ￿￿eCt on their colbective joumey throughout PEAK. As a resulL GFC anticipates disbursing nearly $90.th)O in supplementsl gwts to fosler inter4nstitutional ccAlaborations affK)ngst its regional cohorts. The Global Fund for Children UK Trust 28 Notss to the Ilnanchl ststomwts Year to 30 June 2023 10 Restricted funds (continued) National Lottery Communlty Fund - Boys and Young Ikn Inltlatlv•: Exploring Ma8¢ullnltles In England The Boys and Yourvj Men {BYM) Inibative was a Filot laUnd￿d by GFC and TNLCF in 2020 to support a new and innovative netrNork of¢omunity-based organisations across England focused on working wth youn9 people around positive, heathy and expansive masculinities. During the 18-rrnnlh pl￿ the pathers $upported over 8.000 boys and young men in Engl￿. Based on leaming from the pik)t. phase tsvo of the Inrtiative I￿nthed in January 2023 with ongoing supp(¥t from the Nat￿nal Lottery c￿rtMUnIty Fund. This phase is I￿Jsed on exploring work around masculinrties and trauma. interseclh?ns and youth voKe. The BYM Initk?tive is also seeking to i￿lId ajditional funder partnerships around this work, reflecting that there is a knk of funding that advan￿ gender equty work with boys and young men in the UK. P•opl•'8 Postcode Lott￿: Endlng Vlolonco. Empowerfng Glrl8 Thi$ initiative seeks to address the persistent b*r*r5 that addescent girls face lo attending d staying in school. As part of this initiatrye, GFC works with seven community-based ganisalions in Guinea and Cole D.1v￿re to nNtigate these int￿Sified risks for gids left out and falling behind in a COVID-19 worfd. GFC belEves thaL espeaalty in tIMs pivotal moment, grassroots civil society-furmled, strengthened. and connfLled-can and must ensure Ihat girts who have faced the nTht svnificant barriers to educalion aR given the opportunity and support they need to s￿Ceed. GFC hopes to ￿ a catatyst and committed champion with arvj for these seven gra$$r￿ts partra5 who will reiffkwine a n￿re Mlient and inclusive educati￿al ioumey for all gids. This initiative expands on our work wrth fNe partners in S￿rra Leone and Liberia ISAL-LIB Gid MOve￿￿ntI, all working io advan￿ gender equality and expand OFP)rtunrties kygirfs to fomi a Mano RT¥er Union partner netsvork. This inrtiative is a partnetship beiween TKles Foundalion, Peopk's Postcrxle Lottery, and GFC. In 2022r23. as a part of the support for these grantee partners. GFC made 14 grants in GBP dire¢Uy from the UK TrusL The gTants supported cNJr partners in engaging direcuy with over 1,200 young girfs ar¥J boys in rura areas to ￿lleCt on barfiers lo girls, education. challenge harmful gender norn￿, and advctste for equal Ivjhts ft)r both boys and girts in Cote D'IvoiTe and Guinea. Swodhh Postcodfr Lottory: Balkan Refuw Net4¥ork (BRN GFC supported a nehvork of four communty-based organisats'ons in S￿JtheaSt Europe that are incre￿ng protections for migrant childTen and y(xrth and proTh)bng tolerance in transit aThl host countrE5. This inrtiative is a parbwship b&￿thn Ihe Swedish Postccrtje Foundati¢J) arKI GFC. The partners a￿ Ic¢ated in Croatia. North Macedonia, and Serbia, where mwrant chIld￿n and youth face violence. exploitation. and discftmination as they travel nc*th seeking refuge in olher European ¢I)Unt￿$. These organisalions are providing servwé and support to myrant children arKI their la￿411eS. as well as advocating for improved laws and social accepta￿. The Gk)bal Fund for Chiksren UK Trust 29 Notes to the financial statements Year to 30 June 2023 10 Restrkted funds (continued) Emeryency Response Fund Since the stsrt of the war in Ukraine until June 30. 2022. GFC approved 103 emergertrcy grants totalling n￿)￿ than $2.6 ￿111￿ to supkxjrt than 65 community-based organisations that are helping children and farThlw under attack refugees fleeing the county. Included in the Ukraine en*rgency grants were 54 ￿￿rgencY grants made in GBP dire¢ty from the UK Trusl. Workirvj under extremely drfficull con(ltions. our partnws a￿ doing whatevw they can to keep children and youth safe, warm, and fed. TW are evarajating children with disabilities and organising shelter for those who remain in daThJer. They are helping families lo purchase food. water. fuel. and clothiryJ. They are providing necessities to families seeking refuge in westem Ukraine and twond. They are offering e￿iOnal support to children living under incredible stress. assisting LGBTQ+ youth facing discriminats'on as they seek safety, and so much more. As the situation on the ground evolves. they will continue to adapt. Fund•r Sale9uardlng Collaboratlve In 2021, GFC joined forces ￿ four peer grantmakws to create a new funder collaborats've lo strengthen the abilty of grantmakj'ng organisalions to preventabuse and exploitation. The Funder Safeguarding CollaboratP4e fryrnalty launched in March 2021 and over the last year, membership has grown to include over 70 grantrnaking c*gani$ations working on a range ol issues from dimate thange to child prot￿tIOn to art5 and cuIbJ￿. A5 FSC membership ha5 gffjwn and diversifi￿. so has the FSC team and FSC n(M has tearn m8rnbers based in Africa, Asia. Europo, arbj North AffwKa. Al ￿￿MberS Ytho have icined the colaboralive benefft from access to informth'on and guidance on safeguarthng through the FSC Mline platfomi as well as webinars, peer leaming circles aThJ discussion spaces. In a(klition, 70% of members chose to pay an optK)nal mmbership fee to aC￿S aditional t6rhnKal SUPF#Yt from the FSC team and a quarter of ff*mbers commissioned &jdIt￿1nal supwrt from FSC through our consulting servKe5. The provisi￿ of tethnical sUpp￿t not onty helps FSC achieve ils mission of strengthening safeguarding prath"¢es globalty. the generated a￿ helps ensure the financial sustainability of the collaborative. In èthjitson to providing SUFVOrt to grantmakn.ng organisal*)n$. FSC is wothng to ensure grantee parthets can ￿5S safeguarding SUPFQrt from I￿81 specialists who have a deep understanding of the kical context. Through fundin9 from CIFF and Laudes Foundation, FSC has established Communitses of PraGli¢e safewding specialists in 5 countries in Asia and 3 countries n Africa. increasiry access to high quality, ¢ontextudly relevant safeguarding supporL The Global Fund for Chldren UK Trusl 30 Notss lo Ihe Ilnancial statements Year to 30 June 2023 10 Re8trl¢ted fvnds (continued) Sp•rk Fund GFC'S Spark Fund is a youlh4ed fvnd that invests Hi youth4ed and ycth-focu*Y groups taC￿Ing imp)rtant issues suth as wiequalty. dimate change, and mental heamh. It places key funding decisions in the hands of young people represents'ng their communities. YoLrth panelisls destrJn the grantmakn'ng process, select youth-led and youth-fc¢used grantees. and award fvnding. GFC L3unched the Spark FurKI pibt program in 2021 with financial suptM)rt from Avast. The iilot emptr4**red youth panels in the Americas, Europe and Eurasia. South Asia, and Sthm Africa to lead a grantmaking prcte$$ in their regions. In 2022123, th8 Spark Fund received 790 applicati￿$ globalty and invested $546.000 in 56 groups around the V•t)rld. Phoonlx Fund The Phoenix Fund was estatAished in 2020 *ith the support of The National Lottery Community Fund and GFC arwj gave over £2 Mill￿ in grants to Black. Asian, and Minority Ethnic {BAMEI wnmunts'es across England in 2020r21 during the COVID-19 crisis. In 2022f23, the Phoenix FuThJ was reL4unched as ts PhoenN Way. The Phoenix Way, led by the Ubele InitiatNe and supported by GFC. is a grantmaking initiatsve amed at transfoming Black aThJ wially minoriti￿1 comunities in the UK. It was established in partnership Six Regional Leads and with the support of Seve￿ rp4¥ UK hjnders. induding The Youth Endowrrenl Fund, Fondation CHANEL and the Lloyds Bank Foundation for England & Wales to buikl on Ihe SU￿esS of 2020 e￿rger￿ fund. GFC is acting as grant •Jminislrator for the PhoeniK Way until 2026 in order to SuP￿)rt the long-tenn growth, sustainabilty and independerte dthe Phoenix W￿. Iwlll Work In a new match funding partrEr5hip with the #rwill Fund. GFC launthed our 'lnve$ting in youlh stxial action for trA)ys' programn* to support four corrwnunity-based Organisat￿nS in 8radfoTd. West Yorkshire in September 2022. This targeted. •-based initsative $eek$ to understand and address the barri&rs to tr￿Ys aged 10-14 in engaging with youth social action over an 1&rrnnth period. All four of the organisations ar& xts.vely working with boys aged 10-14 on a dNerse range of social action campawns throughout both the ¢ity and the surrounding reg￿)n. GFC is providing capaaty developnEnt to partners in colkaborats.on with infrastructure partner. Inwt Hub 8r*Jbrd-reflecting the importance of b¢al connec*on and ￿ts¥Orks. The FurMI is made possible thanks to a £66 mllion joint investment Irom The National Lottery Comunty Fund and the Department for Culture. Media and Sport {DCMS) to supp(Kt young Feople io rLcess hoh qualty social &tion opportunbties. Tre Gbbal Fund for Chiklren UK Trust 31 Notes to the flnanclal 81atements Year to 30 June 2023 10 Rostrld•d funds l¢ont#iuedl Young Gamechangevs Fund In partnership wrth Restless Developmenc GFC is delivering the launched Young Garned￿ngerS Fund. Built on the shared understanding that for too long. young people have been left out of the deo$ions that affect them the rrDsl. The £4.5m Young GaMeChange￿ Fund. funded by ts Co-q), the Coryop FoundatK*n and the #will Fund will tsckle this head on with grants of up to £20k a year for young people transfomiing communities into safer. rn0￿ suSbn*)￿ and rrm irKlusive places to live. GFC is working with ow Youn9 Gaffethangers Fund partsiers to set up a new co-designed participatory fund that invests in youth4ed organisats"ons. grou￿ and indivmlual children and young people bading change in th￿r communitses. "I believe having a youih-ledfynd is so vilal in ioday's climale because as yowig people we are in a wsilion IIKU oiher generalions will never be in again, we see Ihings ihai differenl generations pttnv miss. We are ihe ones in the schooLs. in ihe children's hospitals, in ihe youik groups, in the groiip chais. We are ihe ones wilh ihe krn?wledge, Ihe lived experience. and finally. m?H) we ht4ve ihe power. Wilh our difference in age comes a difference in perspeclive. When youngpeople are givenfunds. space, andpower we are able io take up space al more lables thai we shouldhave been inviledto sit al already. We arefinallygiven the power lo make changes about issues ihai have an ilnpaci on us. ' Me8aoWhittsA& a YLW FuthlS¢eaiD8Gr￿ BAdtbefi￿ artide abwt Ixr cxpaieno with the y(￿ Fu￿{ bLtL 11 Operatlng le•8¢0 As at 30 June 2023. the d￿rity was corrmitted to tcAal fu￿re minimum lease payments under non-cancemable operating leases as folkms.. Office 2023 nhe 2022 Wthin year 30.000 The Gbbal Fund for Children UK Twst 32 Notes lo Ihe financlal ststaments Year to 30 June 2023 12 Related party transactions The Charity received cash donatims from various related parties dumg the year. These are summarised bdow. Related Party Oonatiom 5ncom• 2023 2022 Tr￿leeS Othef retoted p•f*s exdurfing In￿. . Gcddman Sachs & Ccthpany . PJT Path¢rs Totsl 1&100 25.360 24000 3.335 44.435 35.165 17.311 77,836 The th)fta￿n$ above were wilhoul $Feufic ter￿￿ and c4)nditK)ns and unreslrthd in nature. Goldman Sachs & Company is a related party ty virtue of the fact that a number of the trustees are ffembers of rts managenwl cornnytte•. PJT Pariners a related paty ty vwti* of the fxt that one of the trustees 1$ a Partnèr at this organisation. The trustees did not fecave any el￿￿Uments orany reimbutsernent of expenses during the year (2022- rnDe). AdditIcrf￿1Iy, the folknwrvJ transxlions took ￿lace during year. R•￿t•d Expendilur• p•yabl• 2023 2022 In¢ome rtt•1￿bl0 2023 2022 obo1 Fur￿ fty Chifdren US 551.347 370,125 The ￿Qbal Fund ft)r Children US is the chanty's US parent entity. Mark Nlson ￿¥j John Hecklin9er are also lJustees of GFC. At the year end, an aryK)unt of £89.420 was owed from The Global Fund for ChiKlren US for grants and operakn'ng expenses to The Gknbd Fund for Children UK Trust12022 - £12.707 owng to The Global Fund for Children US). The Gbbal Fund for Children UK Trusl 33