**THE CENTRE FOR GLOBAL EQUALITY LIMITED (A COMPANY LIMITED BY GUARANTEE)** **FINANCIAL STATEMENTS For the year ended 31 July 2022** **Charity Number 1121067** **Company Number 06080896** **Registered Office: 8c Kings Parade Cambridge, CB2 1SJ** **THE CENTRE FOR GLOBAL EQUALITY LIMITED** ## **Annual report and financial statements for the year ended 31 July 2022** ||**Page**| |---|---| |Trustees' report|1 - 6| |Independent examiner's report|7| |Statement of financial activities|8| |Balance sheet|9| |Statement of cash flows|10| |Notes to the financial statements|11 - 15| **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **TRUSTEES' REPORT For the year ended 31 July 2022** ## **The Charitable Company: Directors, Structure, Governance and Management** The Centre for Global Equality (CGE) was established as a company limited by guarantee on the 2[nd] of February 2007. It is governed by its Memorandum and Articles of Association, and the liability of members is limited by guarantee. It was registered as a charity on the 4[th] of October 2007. The Company was established to further the charitable objectives set out below. The trustees of the board, who are the company directors, meet regularly to oversee the work of the Chief Executive Officer (CEO), who is responsible for the day-to-day work of the Centre. The CEO is also the Company Secretary. The CEO is supported by three other full-time staff. A variety of additional supporting roles are also fulfilled by contractors, interns and volunteers from time to time. ## **Recruitment, Appointment and Training of New Trustees** The Centre for Global Equality recruits trustees with skills and contacts relevant to its development as a small International Development organisation operating within the Charity Sector. Trustee appointments are made at the Annual General Meeting (AGM) or, if trustees are co-opted by the Board during the year, such appointments are confirmed at the AGM. On their appointment, trustees are elected to serve for between one and three years and may be re-appointed at the end of their term. Trustees are limited to two terms of office unless they serve as Chair, Vice-Chair or Treasurer, in which case they may serve for a third term up to a maximum of nine years. Trustees receive briefings and relevant paperwork from the Centre for Global Equality CEO and, where relevant, from other staff and trustees. Trustee induction and training needs are met through formal and informal processes. ## **Management of Risk** The trustees, as directors of the Centre for Global Equality, are responsible for the charity’s systems of internal controls and effectiveness. The board of trustees meets regularly to review major risks and, where appropriate, systems and procedures are established to manage the risks the charity faces. The major risks identified for the 2021-2022 year was with the ongoing need to enhance and diversify the organisation’s funding base to achieve ongoing financial sustainability and continuity in leadership, management and programme delivery. ## **Reserves policy** The directors agreed that the company should aim to keep a level of reserves equal to three months’ average expenditure, which equates to £45,000. This level of reserves is in place at the end of the financial year, with free reserves at the end of the year being £182,946. ## **Objectives and Activities** - To promote in any part of the world, the relief of human poverty or suffering in any manner which is, or may be deemed to be, charitable. - To promote and organise co-operation in the achievement of the above purposes between voluntary organisations, academia, students, the business community, the wider relief and development community and the general public and to educate the UK public so as to raise awareness of human poverty or suffering. ## **Activities Report** The 2021-2022 year saw the beginning of recovery from the COVID-19 pandemic, with a gradual return to pre-pandemic ways of working. There was a shift from online to in-person or blended programme delivery activities where possible, although in-person social networking events remained curtailed. CGE staff returned to the office flexibly and resumed international travel. In the final few months of the year CGE personnel visited collaborators in Ethiopia, Kenya, Zambia and Lao PDR. Economic recovery, however, remained slow. The reduction of the UK’s Official Development Assistance (ODA) budget from 0.7% to 0.5% of GDP remained in place and very few funding calls were issued. Despite these challenges CGE remained resilient: we delivered our programmes and enhanced our community of practice. In fact, largely due our participation in one large consortium research programme on Climate Compatible Growth, our income almost doubled as compared to the previous year. We also spent the 2021-2022 year honing the conceptualisation of CGE’s Theory of Change and strategy for the next five years. Our overall vision is to evolve, demonstrate and share an effective approach to inclusive research and innovation, and contribute to sustainable development through this approach. The intended long-term impact achieved through implementing this approach is that research and innovation will make a more significant contribution to fulfilling the goals of sustainable development than at present. The three main outcomes of our work will be: a model to structure a new approach to innovation for the UN Sustainable Development Goals (SDGs); an institutionalised global inclusive innovation ecosystem; and significant positive impact for end-user communities though example initiatives. 1 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **TRUSTEES' REPORT For the year ended 31 July 2022** To achieve these outcomes we have four objectives: (i) evolve and share an inclusive innovation model; (ii) create a cross-sector, global community involved in inclusive innovation; (iii) devise and deliver programmes to create effective inclusive innovation ecosystems; (iv) deliver flagship examples of inclusive innovations from idea to impact. The aim of the latter is both to deliver value for end-user communities and to hone and prove the model. The stages of the inclusive innovation cycle are ideation (both demand- and opportunity-led), co-creation, research, R&D and diffusion. The key elements required to create enabling environments for inclusive innovation are: strengthening the capacities and capabilities of individuals, primarily future changemakers; building ecosystems by establishing programmes and facilities needed to address gaps in particular places; and establishing communities of practice within and between ecosystems through partnership-building. Presently delivery of CGE’s objectives is funded through donations or grants to deliver specific projects and programmes. Some funds are awarded directly and exclusively to CGE to deliver particular programmes. For the most part, however, CGE works in collaboration with at least one other organisation, usually as a collaborating partner in a larger consortium programme in which CGE’s role is to deliver one or more of the stages of the inclusive innovation cycle and/or key elements needed to enable effective inclusive innovation ecosystems. ## Inclusive Research programmes During the 2021-2022 year, CGE was funded to participate in the following five collaborative research programmes. • APSISSFE (Affordable Perovskite Solar Irrigation Systems for Small-holder Farmers in Ethiopia) is an Engineering and Physical Sciences Research Council (EPSRC) GCRF research consortium project to develop a context-appropriate, solar powered irrigation pump for Ethiopian small-holder farmers. Led by Prof Sam Stranks, Department of Chemical Engineering and Biotechnology (CEB), University of Cambridge, APSISSFE includes members from the Department of Engineering, University of Cambridge, Bahir Dar University and CGE. Initially a two-year project due to finish in March 2022, APSISSFE was given a six month extension to address delays caused by the COVID-19 pandemic. The consortium also received a University of Cambridge EPSRC Institutional Sponsorship 2021/22 grant to establish renewable energy insitu testing capabilities in Ethiopia. CGE’s role in the project is to facilitate effective collaboration with Ethiopian researchers and enable end-user co-design with Ethiopian small-holder farmers as part of the Innovation Communities programme run in partnership with the Ethiopian NGO JeCCDO (Jerusalem Children and Community Development Organization). • The CCG (Climate Compatible Growth) programme provides research and global public goods to support countries to develop economic strategies, plans and policies to attract investment for low-carbon growth and sustainable development. Funded by the UK Foreign, Commonwealth and Development Office (FCDO), CCG is led Prof Mark Howells at Loughborough University. The other institutions in the consortium are the University of Oxford, the University of Cambridge, Imperial College London, the Open University, University College London, the Climate Parliament, KTH Royal Institute of Technology (Sweden) and the Centre for Global Equality. CGE’s role is to establish and run Climate Compatible Growth networks in the programme’s partner countries and enable productive collaborations between researchers in these networks and CCG consortium institutions. During the 2021-2022 year we established partnerships with Strathmore University and the National University of Laos to run CCG Networks in Kenya and Lao PDR respectively. Activities in the Kenya CCG Network were delivered through four Special Interest Groups (SIGs), which worked on energy modelling, low-carbon transport, policy pathways for climate compatible growth and clean cooking. Activities in the Lao PDR CCG Network were delivered through five SIGs working on energy modelling, low-carbon transport, waste management, material requirements and infrastructure resilience. The CGE-based National Partnerships team also initiated scoping activities for CCG Networks in Zambia and Viet Nam, which will bring the number of partner countries in the programme to four. • MillNET_i (Millets and Nutritional Enhancement Traits for Iron bioavailability) was a Biotechnology and Biological Sciences Research Council (BBSRC) GCRF research consortium programme on biofortified millets in Ethiopia and The Gambia led by Prof Howard Griffiths, University of Cambridge. Initially a two-year project due to end in March 2021, MillNET-i was awarded additional funds to extend to September 2021. CGE’s role was to facilitate co-creation, knowledge exchange and capability building to enhance impact, to coordinate across workstream activities in Ethiopia, and to lead the Innovation Communities programme to enable collaboration between researchers and Ethiopian small-holder farmers. CGE also took on the management of MillNET_i for the final three months of the programme. • OVSI (Oxygen and Ventilator System Initiative) is a collaboration between researchers, civil society and industry to produce an affordable, context-appropriate oxygen and ventilator system to provide oxygen therapy in low-resource health facilities. During the 2021-2022 year, CGE focused our efforts on the development of an oxygen concentrator in a collaboration between the Universities of Cambridge and Bahir Dar, and Cambridge Precision Limited (CPL). Led by Prof Axel Zeitler, this consortium received a University of Cambridge EPSRC Institutional Sponsorship 2021/22 award for a project to strengthen the Cambridge-Bahir Dar OVSI prototyping partnership. 2 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **TRUSTEES' REPORT For the year ended 31 July 2022** • TIGR2ESS (Transforming India's Green Revolution by Research and Empowerment for Sustainable food Supplies), was a five-year UK Research and Innovation (UKRI) Global Challenges Research Fund (GCRF) research consortium programme that ended in March 2022. Led by Prof Howard Griffiths, University of Cambridge, TIGR2ESS aimed to define the requirements and set the policy agenda for a 'second Green Revolution' in India, framed by demographic changes affecting rural communities and feminisation of smallholder farming systems. CGE’s role was to support inclusive innovation and international co-creation. For example, CGE facilitated a collaboration between TIGR2ESS researchers from ICRISAT in India and engineers at the University of Cambridge to evolve a nutrition assessment App called Gibsonify. ## Inclusive Innovation programmes During the 2021-2022 year, CGE delivered or co-delivered programmes in three stages of the inclusive innovation cycle: ideation, international co-creation and R&D. • Ideation Convening and delivering ideation programmes to identify challenges and innovative solutions is the first stage in the inclusive innovation process. CGE supports both challenge-led and opportunity-led ideation. CGE works with its global civil society network to identify challenges faced by low-resource communities in developing countries and facilitates events and programmes for individuals and groups interested in collaborating to evolve innovative responses to challenges faced in such communities. Viable solutions are investigated further through research or evolved in CGE’s Cultivator programme. During the 2021-2022 year, CGE facilitated challenge-led ideation for University of Cambridge engineering students in a module titled ‘Engineering for the Bottom Billion’ and for the Global Challenges Pods projects in the Postdoc Academy (PdA)’s Borysiewicz Interdisciplinary Fellowships programme. CGE’s core opportunity-led ideation programme is Development i-Teams delivered in collaboration with Cambridge i- Teams based at the Institute of Manufacturing (IfM), University of Cambridge. Development i-Teams investigates the potential of new science and emerging technologies to impact positively on the lives of under-resourced communities in low- and middle-income countries. The fourteenth and fifteenth Development i-Teams programmes were run in October-November 2021 and May-June 2022, drawing on technologies from the University of Cambridge Departments of Chemical Engineering and Biotechnology (CEB), Physics, Engineering, Clinical Nuerosciences, the MRC Epidemiology Unit and the Centre for Atmospheric Science. Two of the projects supported the work of Cultivator ventures Blue Tap and autohaem. Over the two programmes 42 participants spent more than 1500 hours on the following six projects: `o` Detecting water contaminants with touchscreen devices in low- and middle-income countries `o` Assessing and enhancing the quality of chlorinated water in Africa `o` Improving the long-term monitoring of neurosurgical patients in low resource environments `o` Assessing the market entry strategy for an open-source device that makes high-quality blood smears for medical diagnostic tests `o` Bridging the gap between planetary climate models and country level or regional policy-making `o` Investigating the need for monitoring foetal movements in pregnancy ## • International co-creation During the 2021-2022 year CGE took an important step towards realising our strategic ambition to disseminate our inclusive innovation approach globally. In collaboration with Cambridge i-Teams we received a University of Cambridge EPSRC Institutional Sponsorship 2021/22 award to pilot i-Teams in Kenya. In collaboration with Strathmore University, we delivered the first Nairobi i-Teams programme in which 21 Strathmore students investigated the market in Kenya for three social enterprises: two from the CGE Cultivator (Water Scope and Blue Tap) and one supported by the Strathmore Energy Research Centre, Solar e-Cycles. The Development i-Teams Follow-on Awards for the 2021-2022 year were awarded to autohaem and EcoNomad to collaborate with teams at the Seifu BiT MakerSpace at the Bahir Dar Institute of Technology, Bahir Dar University (BiTBDU) in Ethiopia to build and test prototypes in Ethiopian environmental conditions and with prospective end-users. EcoNomad is developing a passive thermal irrigation pump, and autohaem is developing devices for automated blood smear preparation to facilitate more accurate pathology laboratory results. Teams of researchers and innovators at Bahir Dar University made significant progress during the year on six other projects that followed on from international co-creation initiatives in the previous year. Two agri-innovation initiatives led by Dr Stephanie Swarbeck (NIAB) and an African Yam Bean MAKEathon (University of Cambridge) that took place in collaboration with BiT-BDU in July 2021 led to three collaborative research projects on Teff and the African Yam Bean, and three agri-tech ‘maker projects’. The latter (a grain storage silo, hand-powered maize sheller and a mechanical teffplanter) were developed by students at Seifu BiT Maker Space in collaboration with women farmers in the Self-Help Groups of the Innovation Communities Programme run by CGE in collaboration with JeCCDO. 3 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **TRUSTEES' REPORT For the year ended 31 July 2022** ## • R&D CGE’s core R&D programme is our Cambridge-based Inclusive Innovation Cultivator, which is supported by the Sustainability Team of Arm Ltd. The number of projects and ventures in the Cultivator was capped at twenty for the year. Seventeen groups continued from the previous year (ApRES Groundwater, Beneficial Bio, Bio Bottle Voltaic, Blue Tap, Cortirio, Ideabatic, Innoflav, Kijani Energy, Majicom, MorePak, OpenDevEd, open-seneca, Rural Senses, SAFE, Vesma, Vigyan Shaala and Water Scope). Three left the Cultivator during the year as projects came to an end, pivoted away from sustainable development and teams left Cambridge (eCO-SENSE, Farming Data, and Kilifi Recycle). The three new projects and ventures that joined the Cultivator during 2021-2022 were autohaem, Sustain/Ed and ReachSci. - _autohaem_ aims to make automated blood smear preparation fair and accessible by developing mechanical and electromechanical blood-smearing devices and making the designs open-source. - _Sustain/Ed_ aims to enhance global action on climate change by providing primary school children with the knowledge to generate progressive and innovative ideas so that they can renovate the world. - _ReachSci’s_ mission is to enable anyone from anywhere to do outstanding research in Science Technology Engineering and Maths (STEM). The inclusion of two education focused initiatives in the Cultivator reflects the efforts of Dr Stuart MacPherson who joined CGE part-time for three months to convene a STEM education community of practice called SEIS (Sustainable Education Impact Space). Targeting disadvantaged groups, SEIS focuses on providing opportunities related to STEM and sustainable development. SEIS strives to increase scalable impact through informed outreach, collaboration and co-creation. SEIS’s first international collaboration was with the STEM Centre associated with Bahir Dar University in Ethiopia. The initiative will be led by Sustain/Ed going forward. Support for projects and ventures in the CGE Cultivator includes bespoke mentorship, enterprise and product development assistance, proposal-writing support, opportunities to co-create with innovators, businesses and communities in developing countries to understand needs and markets, an online toolkit providing specialised materials and resources, and assistance sourcing grant and investment funding. Access to CGE’s office and meeting space in central Cambridge, which had been limited due to Covid-19 restrictions, was made available towards the end of the year. Cultivator meet-ups also moved from online to in-person as the year progressed. ## Building Inclusive Innovation Ecosystems To support our inclusive research and innovation programmes CGE continued to build enabling ecosystems in Cambridge, Bahir Dar and Nairobi. In Cambridge significant progress was achieved in formalising CGE’s relationship with the University of Cambridge. Our Inclusive Innovation programme based in the Department of Chemical Engineering and Biotechnology (CEB) will be formalised in the coming year as the Cambridge Centre for Inclusive Innovation. The Centre’s first funded initiative will be a component of the Climate Compatible Growth programme. The Centre will be led by our CEO, Dr Lara Allen. During the 2021-2022, year Dr Allen contributed to two courses in CEB: the MPhil in Biotechnology and a module on Inclusive Innovation for the EPSRC Centre for Doctoral Training (CDT) in Sensor Technologies for a Healthy and Sustainable Future. To maintain connections more broadly across the University Dr Allen serves on the Strategic Advisory Groups of Cambridge-Africa and Cambridge Global Challenges, the Steering Committees of the Synthetic Biology Strategic Research Initiative and the EPSRC CDT in Sensor Technologies for a Healthy and Sustainable Future. In Bahir Dar CGE continues to support the two ecosystem building programmes that we initiated – Seifu BiT Maker Space and Innovation Communities. Seifu BiT Maker Space, which CGE co-founded in 2019, is a flagship facility for the Bahir Dar Institute of Technology that is often visited by dignitaries and the media. It is also key to the success of ongoing collaborations between the Bahir Dar Universities and UK institutions facilitated by CGE. These include Development i-Teams follow-on co-creation projects on 3D printing of Medical Braces and a novel passive thermal pumping technology, Agritech innovation makeathon follow-on projects, and the OVSI oxygen concentrator initiative, with collaborators from the University of Cambridge, University College London (UCL), the National Institute of Agricultural Botany (NIAB) and Cambridge Precision Ltd. The maker space also collaborates regularly with JeCCDO and the Innovation Communities programme, co-established by CGE to enable last-mile co-creation with Ethiopian small-holder farmers for national and international researchers and innovators. In Nairobi CGE built on the strong partnership with Strathmore University established through the Climate Compatible Growth programme to pilot the first Nairobi i-Teams programme. 4 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **TRUSTEES' REPORT For the year ended 31 July 2022** ## **Future Plans** Going forward the Centre for Global Equality will continue to enable inclusive research and innovation for sustainable development. In collaboration with partners in academia, civil society, government and business, CGE will continue to enhance ecosystems and create enabling environments for the evolution of innovative solutions to challenges relating to food, water, energy, education, health the environment and livelihoods. A particular goal for the coming year is to develop the Inclusive Innovation Programme based in the Department of Chemical Engineering and Biotechnology (CEB), University of Cambridge, into the Cambridge Centre for Inclusive Innovation. The first initiative funded through this Centre will be a part of the Climate Compatible Growth programme. CGE’s role in this programme will expand to support a new Cambridge-based member of staff to support the establishment of the programme’s Operational Intelligence Framework function, and the National Partnerships’ team will establish Climate Compatible Growth networks in a further two countries. CGE also will seek resources and continue to support collaborations between researchers in the UK and Ethiopia in consortium projects coming to the end of their funding cycles such as MillNET-i, APSISSFE and OVSI. In the coming year CGE plans to employ a full-time coordinator to lead the Inclusive Innovation Cultivator programme and Cambridge-based ideation activities. We also aim to embed Nairobi i-Teams by co-delivering a second programme, and to expand the International i-Teams programme to a second country. ## **Principal Sources of Funding** The Centre for Global Equality is grateful to have received generous sponsorship, donations and in-kind support from a number of individuals and organisations through the 2021-2022 year. The Arm Sustainability team of Arm Ltd sponsored a grant of £25,000 to support the CGE Inclusive Innovation Cultivator programme. Cambridge Precision Ltd (CPL) provided in-kind support in the form of staff time and access to manufacturing facilities for the OVSI Oxygen Concentrator project. The Cultivator project open-seneca received £13,395 to support their work on monitoring air pollution. Of the £610,061 in unrestricted funds for collaborative research and innovation programmes, the largest amount (£409,306) was received by CGE to run the National Partnerships workstream of the Climate Compatible programme funded through Loughborough University by the UK Foreign, Commonwealth & Development Office (FCDO). CGE also received unrestricted funds for staff time, travel, consumables and subcontracts to collaborate in the following consortium research projects: TIGR2ESS (£14,025); MillNET_i (£12,920); APSISSFE (£28,475); OVSI (£42,889) and Passive Thermal (£11,498). CGE received contributions towards staff time from, or through, the University of Cambridge for the co-delivery of the following collaborative programmes: Development i-Teams (£18,300) and International i-Teams (£28,503) with Cambridge i-Teams base at the Institute for Manufacturing; Global Challenges Pods with the Postdoc Academy (£1,550); and SEIS (£3,200) through the Department of Chemical Engineering and Biotechnology. A further £1,000 was received by CGE from the latter Department for delivery of a module on Inclusive Innovation for the Sensor CDT. ## **Public Benefit of the Centre for Global Equality** In determining activities of the organisation, Centre for Global Equality trustees have paid due regard to Charity Commission guidance on public benefit. The ‘Activities Report’ above explains CGE’s strategy for meeting its charitable purposes, and lists the significant activities undertaken, and achievements made, during the 2021-2022 year towards meeting these purposes. ## **Financial Review** Results for the year and the financial position of the company are as shown in the annexed financial statements. The total funds of the Centre for Global Equality were £109,700 at 31 July 2021 and £183,842 at 31 July 2022, as shown on the Balance Sheet: the organisation is solvent at 31 July 2022. 5 THE CEpmiE FOA QLO8IL E22 arècttr8 Aré iW>jn￿blè tt)r prèwng m• TrLtsts•&' Réport and •* Flr*Kial In *1lh aFo*ab* Conwy i•¢yJlfes th•diec*Jrn b) prepwe ￿a￿meM8 yttr. Ut*lwihat la* thè tlrédori h*v• dèctéd 10 prepdrè statèménts In &ccordwee I¢￿9(￿% 18* Ihè d¥•dofS not aA)iovè th• fIn￿￿ *iat•n*nt8 L•U•&S tney v•e sa118tJtsJ Iha 8nd Iw vl ot Ihe ￿al• ot *t&Y8 eoffpany *)d d thé Wihl thf Itss$￿ t￿￿nY loruw pwd. In prelwlng 1hts￿ siat8ments. the droc*M8 af• réqulretl 10 sèjoei atto￿lty p)Iithe8 and m•) appty in•)) coftgisiont kè e•lIm￿•S that arè r•as01￿* aThl pDJd•M pr•we t￿8￿¢1￿1 on th• Wng ())nc￿ In￿￿10 pre8￿ that Iha The drbctths wé ie¥wssQ>lè keeplNa **u&te a(t4uni¥)9 rtcrfjrdg ttst afè gulf*lth)t to ghtrw •xpLw the eafrislny'g aThY ia&8tsn8blè ac*Jraty a any Ilrnè ilmrthi mèeuryny I •n&tae Ih*n to •n￿re in41 thts iir4nts818iatèments corrply th• C$Y￿Tr￿ Act 20￿. They ajso r*¥*)nSIb￿ lar •Th10lhtr IrrewlafKIèi. 01r•el￿ Durtno 20214022 Kimbffj Gife AlexafvJ*r PANts S*Ja Cutrowt Icttairi IV*&C IT￿09•JI?r} trbJw4rd Grimth$ fole. **fl Ourtno 2021.W2 Full-bn* stair Laia A¥en ATr*ew &1 Kelsea P&8iore E112&btrih Ténny*)n Kirsty fvts¢knlay CEO Fknanc• thrkl Cor(YNnka#on8 and Partnershps CAt*ffi t￿14 NovembN 2Q211 Cllm81é Ctsffytstdè Gro*tn C4>Lffjtry Prf4eGI Oltlcer Werter20211 Piiwd CXllc•i IND¥•tYkn 2021 ID JwK•wy 20221 BwdayB Bank VK PLC, I Cl¥Jrd41 Ploc•. Londw E14 SHP knd•p•n*l•fit Ex•mlft SG Bwrfrr4in BFP FCA FCCA ch￿er Alkn LLP. 7 CoLrt Cothorn Lane. S4)wW￿y. C825 9AU Klmb*iy G*• ehalr of Ihe 8oard o17N810•1 0*: 27Aprtl 2tr23 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** ## **INDEPENDENT EXAMINER'S REPORT For the year ended 31 July 2022** I report on the accounts of The Centre For Global Equality Limited for the year ended 31 July 2022, which are set out on pages 8 to 15. ## **RESPONSIBILITIES AND BASIS OF REPORT** As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **INDEPENDENT EXAMINER'S STATEMENT** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the - Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Stuart Graham Berriman BFP, FCA, FCCA Chater Allan LLP 7 Quy Court Colliers Lane Stow-cum-Quy Cambridgeshire CB25 9AU Date: 7 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES including Income and Expenditure Account For the year ended 31 July 2022** |**Note**
**Income from:**
Donations and legacies
Charitable activity:
Promotion of international development
**2**
Investment income
Other income
**Total**
**Expenditure on:**
Charitable activity:
Promotion of international development
**3**
**Total**
**Net Income/(Expenditure)**
**before Transfers**
**Net Movement in Funds**
**Reconciliation of Funds:**
Total funds carried forward
Total funds brought forward|**Unrestricted**
**Funds**
**£**
-
610,061
2
-
610,063
535,921
535,921
74,142
74,142
109,700
183,842|**Total**
**2022**
**Funds**
**£**
-
610,061
2
-
610,063
535,921
535,921
74,142
74,142
109,700
183,842|**Total**
**2021**
**Funds**
**£**
-
305,426
18
10,000| |---|---|---|---| ||||315,444| ||||287,686| ||||287,686| ||||| ||||27,759| ||||27,759| ||||81,941| ||||109,700| 8 THE CEMfRE FOR GLOBAL EQUAufi LWAtrED BALANCE SHEET As al 31 Juty 2022 2021 FIXED ASSETS Tangiblè r￿Èd assèts CURRENT ASSErs Debiors and pwaymorrts Cash at bar* arKJ in 135,467 22.225 202,058 147.787 CURRENT LIABILrriES Cl￿1￿0[$ and a¢¢ruJ$ 19.113 39252 N•t eurrnnt a•••t• 182,945 108,534 N•t A•*•ts REPRESEKfED BY: Unr8St￿t￿ Fund 183,842 109,700 183.842 109,700 Th6 company is 8ntItl￿ to 8xompl*)n Ircffi athlit uTrJor 4n ol the Cryios 3X￿ lor the year otNtsJ 31 Juty 2022. The memters ha￿ not wuir•J th8 company lo c*Jtwn an a￿￿rt ot its fin&r￿la1 slalements for th8 year end8d 31 Juty 2022 in aceordanco Sth 476 01 th8 CompaThes P£t 2￿￿. The directors acknowle(bJe Ihar ￿spOnSItI1rtjes t￿. lal ￿Suring that tho company keeps accountiThJ l￿dS C4MIF4y *ilh Secticffls 386 and 387 01 th CompanKgs Act 21Th and Ibl rrfeparing fin￿1￿ staternents which gNè a true and I￿r Of ts statè ol affairs ol eomrony as at the end of each finanoJ year aThJ ol its profit or h)ss lor each fina￿￿ year in accordance Iwth the iequiromènis ol SectKJns 394 and 395 and wh￿h otheThwso comKty ¥￿h thg low1￿monts of Iho Companiès Aet 21Th rdatiro io finants￿ statèments, so lar as S￿l¢￿È to thÈ company. The FinatKial statoments havo beon Fwar&l in ￿ance wilh th& of Part 15 01 th8 Cornpanies kt 2006 r8lab.ng to smdl ecffipan*s. 27Awl 2023 financi￿ statements were wcwed ty Ihe l))¥d ol directors on ................................ aTrJ sKJn&J on its behalf by. Kimberty Gir8 Chair of the Board of Tru8t•8s **THE CENTRE FOR GLOBAL EQUALITY LIMITED** ## **STATEMENT OF CASH FLOWS As at 31 July 2022** |Note
**Cash used in operating activities**
1
**Cash flows from investing activities:**
Purchase of fxed assets
**Change in cash and cash equivalents in the reporting**
2
**period**
**Cash and cash equivalents at the beginning of the**
**reporting period**
**Cash and cash equivalents at the end of the reporting**
**period**
**Notes to Cash flow statement**
**1. Reconciliation of net income for the year to net cash flow from operating activities**
Net movement in funds
Adjustments for:
Depreciation charges
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
Net cash inflow (outflow) from operating activities
**2. Analysis of cash and cash equivalents**
**At 1**
**August**
**2021**
**£**
Cash at bank and in hand
125,562
125,562|Note
**Cash used in operating activities**
1
**Cash flows from investing activities:**
Purchase of fxed assets
**Change in cash and cash equivalents in the reporting**
2
**period**
**Cash and cash equivalents at the beginning of the**
**reporting period**
**Cash and cash equivalents at the end of the reporting**
**period**
**Notes to Cash flow statement**
**1. Reconciliation of net income for the year to net cash flow from operating activities**
Net movement in funds
Adjustments for:
Depreciation charges
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
Net cash inflow (outflow) from operating activities
**2. Analysis of cash and cash equivalents**
**At 1**
**August**
**2021**
**£**
Cash at bank and in hand
125,562
125,562|**2022**
**2021**
**£**
**£**
(58,970)
101,403
-
(1,242)| |---|---|---| |||-
(1,242)| |||(58,970)
100,161
125,562
25,401| |||66,592
125,562| |||**2022**
**2021**
**£**
**£**
74,142
27,759
269
652
(113,242)
50,431
(20,139)
22,561| |||(58,970)
101,403| |||**At 31**
**Cash**
**July**
**flow**
**2022**
**£**
**£**
(58,970)
66,592| ||125,562|(58,970)
66,592| 10 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of accounting** The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. ## **Going concern basis** The trustees consider that the going concern basis is appropriate as they consider the reserves levels to be sufficient to ensure that the trustees can meet their financial obligations for the next 12 months and on that basis the Charity is a going concern. ## **Funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **Income** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Income received from course fees where there is no stipulated use is recognised in the Income and Expenditure account when received. Grants to the centre are accounted for as soon as the centre is notified of its legal entitlement and the amount due. Investment income is generated from the cash balances held. ## **Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure of charitable activities are as disclosed in note 3. Governance costs reflect expenditure related to the running of the charity rather than pursuing the charitable activities. ## **Tangible fixed assets** Individual fixed assets are capitalised at cost. Tangible fixed assets are depreciated on a straight line basis over their estimated useful lives as follows: Computer Equipment 3 years ## **Taxation** The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 11 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2022** |**2.**
**CHARITABLE ACTIVITY INCOME**
**Promotion of international development**
Sponsorship (Arm Sustainability)
Consultancy Income
Programme Activities
APSISSFE
Climate Compatible Growth (CCG)
CirPLAS
MillNET_i
OVSI
Passive Thermal
TIGR2ESS
PdA Global Challenges Pods
Development i-Teams
International i-Teams
NIAB/Agri Tech
NIAB Teff
Future Food Ventures
Yam Bean MAKEathon
open-seneca
SEIS
Team Arm
WaterScope Innovate UK Wash
Sensor CDT
**3.**
**CHARITABLE ACTIVITY EXPENDITURE**
**Promotion of international development**
Salary Costs
Staff Expenses
Recruitment Costs
Intern & Volunteer Expenses
Programme Activities
Travel
Telephone
Printing, Postage & Stationery
Website
Bank Fees
Exchange Differences
Computer Costs
Office Costs
Bookkeeping
Insurance
Fees & Subscriptions
Depreciation
Miscellaneous Support Costs
Professional Fees
Governance costs
Independent Examination and Preparation of Accounts
Trustee Meeting Expenses|**Direct**
**costs**
**£**
179,748
78
-
30
266,985
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Unrestricted**
**Total**
**Total**
**Funds**
**2022**
**2021**
**£**
**£**
25,000
25,000
15,000
-
-
651
28,475
28,475
16,500
409,306
409,306
50,000
-
-
3,202
12,920
12,920
29,632
42,889
42,889
35,979
11,498
11,498
7,197
14,025
14,025
12,500
1,550
1,550
1,150
18,300
18,300
14,800
28,503
28,503
-
-
-
70,000
-
-
13,100
-
-
4,000
-
-
2,480
13,395
13,395
17,335
3,200
3,200
-
-
-
3,900
-
-
6,000
1,000
1,000
2,000| |---|---|---| |||610,061
610,061
305,426| |||**Support**
**Total**
**Total**
**costs**
**2022**
**2021**
**£**
**£**
**£**
-
179,748
136,583
-
78
37
-
-
620
-
30
-
-
266,985
113,635
46,071
46,071
1,094
744
744
673
261
261
195
177
177
277
668
668
379
(1,145)
(1,145)
-
769
769
613
29,576
29,576
25,240
284
284
-
1,559
1,559
1,513
3,166
3,166
2,556
269
269
652
257
257
402
4,690
4,690
1,622
1,560
1,560
1,500
174
174
95| ||446,841|89,080
535,921
287,686| 12 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2022** ## **4. STAFF COSTS** |Wages and salaries
Pension contributions
Social security costs
The average number of persons employed by the centre during the year was:
Management and admin
**Key management personnel**
The total employment benefits of key management personnel was £70,441|**2022**
**£**
161,367
12,375
6,006
179,748
**2022**
5|**2021**
**£**
123,060
5,633
7,890| |---|---|---| |||136,583| |||**2021**
4| |||| 1 employee was paid in excess of £60,000 in the year. No remuneration was paid to trustees in the year. No expenses were paid to trustees during the year for services provided to the centre. ## **5. FIXED ASSETS** |**FIXED ASSETS**
**Cost**
At 1 August 2021
Additions during the year
Disposals during the year
At 31 July 2022
**Depreciation**
At 1 August 2021
Charge for year
Eliminated on disposal
At 31 July 2022
**Net book value**at 31 July 2022
**Net book value**at 31 July 2021|**Computer**
**Equipment**
**£**
3,326
-
-
3,326
2,160
269
-
2,429
896
1,166|**2022**
**Total**
**£**
3,326
-
-| |---|---|---| |||3,326| |||2,160
269
-| |||2,429| |||| |||896| |||| |||1,166| The fixed assets of the charity are all used for charitable purposes. ## **6. LIABILITY OF MEMBERS** The charitable company not having a share capital, the members' liability is limited by guarantee in the Memorandum and Articles of Association. 13 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2022** |**7.**
**DEBTORS:**Due within one year
Trade debtors
Other debtors
Accrued income
Prepayments
Rent deposit|**2022**
**£**
6,257
7
118,478
4,724
6,000
135,467|**2021**
**£**
10,502
1,040
-
4,683
6,000| |---|---|---| |||22,225| Included above are debtors due after more than one year of £6,000 ## **8. CREDITORS:** Due within one year |**CREDITORS:**Due within one year||| |---|---|---| |Trade creditors
Other creditors
Accruals|**2022**
**£**
-
6,683
12,430
19,113|**2021**
**£**
29,252
3,860
6,140| |||39,252| ## **9. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |Fixed assets
Net current assets
Fund balance|**Unrestricted**
**funds**
**£**
896
182,945
183,842|**2022**
**Total**
**£**
896
182,945| |---|---|---| |||183,842| 14 **THE CENTRE FOR GLOBAL EQUALITY LIMITED** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2022** ## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**Income from:**
Donations and legacies
Charitable activity:
Promotion of international development
Investment income
Other income
**Total**
**Expenditure on:**
Charitable activity:
Promotion of international development
**Total**
**Net Income/(Expenditure)**
**before Transfers**
Gross Transfers Between Funds:
Transfer from restricted fund
**Net Movement in Funds**|**Unrestricted**
**Funds**
-
305,426
18
10,000
315,444
282,846
282,846
32,599
30,183
62,782|**Restricted**
**Funds**
-
-
-
-
-
4,840
4,840
(4,840)
(30,183)
(35,023)|**Total**
**2021**
-
305,426
18
10,000| |---|---|---|---| ||||315,444| ||||287,686| ||||287,686| ||||| ||||27,759
-| ||||27,759| ## **11. RELATED PARTIES** There are no related party transactions during the year (2021: £ nil) 15