Regislered number: 07186340 Charity nurnber. 1137815 GLOBAL CITIZEN. GLOBAL POVERTY PROJECT UK IA Company Llm5ted by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 GLOBAL POVERTY PROJECT UK (A Company Umited by Guarantee) CONTEt Page Roference and Administrative Cletails of tho Gompany. Its Trustees and Advlsers Truslees. Report 2-19 Ind•p8ndont Audltors. Report on the Flnanclal Statamonts 20-23 Con8olldated Statemort of Flnanclal Acllvllles 24 Consolldatsd Balance 8heet CThnpany Balance 8he•t 27-28 Consolldatsd statement of Cash Flows Note• to the Flnonclal 8tat¢ments 30-51 GLOBAL POVERTY PROJECT UK (A Company Limited by Guaraniee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Trustsos Jose￿ Cerrell. Trustee Sawsan Chebm, T￿￿te6 (apWInt￿ 2 FeLYuary 2022) CrakJ Cohon. Tntsteè Sabdna Elba, Chalr (8ppoSnted 20 Juty 20 Hannah Pawlby, Truslee Karen Plerce. Twsiee (appolnted 27 Aprll 2022) John Revj. Chalr (resbJned 31 October 2022) Phlllppe Vogoleer, Trustee Cornpany regi*red number 07188340 Charity reglgternd numb8r 1137815 Roglstored office 8 All Salnts &re8t London N19RL Company $ecrntary Mrs Wèndy Courtenwi Independent audltorJ Accendo Consutting Lld Ch8rtered Certw AccA)untants and Statutory A￿J￿oIS 160 Clty Road London EC1V 2NX Bankern HSBC Bank PIC 28 Borough High Street Southwark London SE11YB Page 1 GLOBAL POVERTY PROJECT UK (A Company Limiw by Guarantse) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 The Tnjstees present thelr annual report togetherwith the a￿1fted fkn8n¢lal statements ofthé Group forth8 P8riod from 1 January 2022 to 31 DeGemter 2022. The Annual Report serves the purry)ses of both a Trustees, report and a diredor5' report urnjer company law. The Trustees confimi that the Annual Rew)rt and financial statements of the charttable group comply wllh the current statlrtory requirements. the requiremants of the gmup's goveming document and thg pmvislons of the SLitement of Recommended Pradice {SORP) appllc8ble to charitles prepartng thelr aco)unls in alxordance wlth the Financial Reporting Standard appllcabl8 In the UK and R6puL4ic of Ireland (FR8102) (8ffertlve 1 January 2019). Since the group and the Company qualify as small urKler sethn 383 ofth8 Companlos Act 2006. the Group strategic Report required of medium and large cornpan58s underthe Companles Act 2008 (strat8gl¢ Report and Dlrectors, Report) Regulations 2013 has been omltted. Otyectives and aclmtles . Pollcie8 and objectlves The Global Pov6rty ProJed Orading as Glob81 Cttlz8n) b a movement of engaged cltkens who are uslng thelr collective voice lo end exlreme p0￿rtY n¢)w. Globgl Cltlzen's vblon Is a world free from extreme p0￿rtY n(yw. Our mlssion Is to bulkl a movemént of 100 mlNlon Global Cttlzons whose aixbns wlll help achl8ve thls vlslon. Vve have speclfic obJedv8S to grow the movemeni of engaged Global Cltlzens. aGhteve speclfic pol1t1￿1 8nd fln8nclal Cha￿eS necessary to 8fKI extremè poverty. 8r￿ to keep our movement engaged. The organlsauon was launched at a skle event of the UN Hbh LeNtl Summlt In New Yoth In 2C4)8 and launched In the UK in February 2010. Global Poverty Proje(# UK Limited is part of a group of charitl8s workbvJ together to achlevp the alms and objectlv8s. At thts time the UK charity is best ￿ace￿ to drive chang8 in the UK. Germany and In Eumpe, trArt Is also very act1￿. in Colla￿ratIon with the other GC Charil￿S, across th8 glob8. All actlvtties undertaken by the Group are ftjrthe benefft of the publ￿ at18rge. The trustees have pald due regard to guldance tssued ty the Charity Comlsslon in deading what adlwtie5 the chartiy shoukl undertake. In settkng obJe(Ilves FlannlrKJ ftjr activities, the Trustees have glven due consideration to general guklance published by the Charity Commmlon re18tlng to public benefft, Ind￿JIng the guwjance 'Public benefft: running a hariiy IPB2)'. Page 2 GLOBAL POVERTY PROJECT UK (A Company Limited by Guarnntse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Objectlves and Activities Icontinued) b. 8tratsgi8s for achiaving obJectlves On our platform, Global Citizens learn aboui the systemic causes of exlreme povety. tske acllon on those issues, and eam rewards fortheir a(Xion$ as part of a growlng global communty committed to lastlng change. We are rea¢hlng more peO￿e by bekna present on a rarwJe of dhjllal and broadcast plalfoms and In new markets. Partnershlps wlth NGOS. buslnesses. governments, 8rtlsts, multllateral organisatlons, Indi￿dual5 and others are k8y to our success. Thanks to our p8rtners, we are ablè to drive fOThYa￿ our publlc campalgnlng alongslda others insido and outside the NGO se(aor. We are able to influence govemments. key buslness8s and individuals to help end extreme poN¢rty. We are able to suslaln our moNemerrt by ralslng necessary ful￿ and in klnd support for our wofk. forthe greatest Impact FQS5iLIe. Communl¢atlng Imp8ct Is 81so keyto aChIe￿ng our obJ8Ctlves. ￿ hokl ourselvBS to Ihe hlJhgSt standanls of tr8nsp8rency and a￿oUntabIlIly, re￿rtIng back to Global Clllzens and partnèrs aL￿ut the Impad ol our wor c. Main adlvllles undertaken to fUrt￿r tho Compan￿¥ purp08e8 for th• publ1¢ b•Mfft The directors conllm that they have comFdbJ wmh the duty urM]er se(Ilon 4 of the Charlttes Act 2011 to have due regard to the Charftles Comm1551on's general ouhjance on publlc bBnefft. Vthere appropriate and relevant, partlcular reference has been made In Ihls rewrt to sredfic Instances of publk benefft Fxomoted through the actlvitles of Global Poverty Projerl UK The trustees have pald du8 regard to guldan¢e tssued by the Chartties Commisston In declding what actlvltles the charltles shoukl undertake. Achlevements and perfomwi 2022 started with the launch ofthe End Extren* Poverty NOW ￿mpa￿an, c8111ng on govemments. leaders In the private sector. arKI tMllv)nai￿s lo make the commltrnents urgently ￿qUIred to end extreme poverty now. The campaign rallled millions of Gtobal Citlzens around the world to demand the worhj's top polltlcal and buslness leadets take immedlate a(Ilon In three Grttical areas on whlch the world Gould no longer afford to wall.. empowering adolescent girfs across the worhj" breaklng the Syslemlc b8rrl8fS that keep people trapped In poverty: and te￿ng meaniwful climate actlon now. The launch plan5 were Ihwarted by the Russlan Invaslon of Ukralne, der8tring our campalgn18unch, whlle we responded to the invasion quickty and swtftly. INe kqunGhed Stand Up for Ukralne (SUFU), featurfng a Social Medla Rally on Aprfl 8, and a Pledging event in Warsaw on April 9. hosted by EurDpean Commlsslon President Ursula von der Leyen and Canadian Prime Minister Justin Trudeau, which was Strearn￿ live on YouTube. The rally engaged cltizens around the world, calling on wond leaders to provide 8dditional fundlng for refvgegs eVe￿here. All campaign a(*ions and [￿ntent Was transtated and lOcalk￿ for the GeM￿n cont8Xt and Chancellor Olaf Schok partlcipated at the SUFU event in Warsaw. Together we n8lped secure $10.1 bllllon In Pledged grants and loans to supwrt those who had to flee their homes in Ukraine. The $4.6 billion In gr8rrts and $5.5 billion in loans wlll supwrt refugee efforts in Ukraine and In other European ¢ountries. by provwjlng accomTTr)dation and eGonomic security, as well as support for grassrcrfjts organisations and UN ageneAes wo￿ng wilh refugees and intemalty dlsplaced people. Full impact report of the event can be fourKI al httpsJfvn¥w.globaktttzen.orglenlcontentlstand-upfor-ukraine-Imp8Ct-report. Page 3 GLOBAL POVERTY PROJECT UK IA Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and perfOrn￿n￿ l¢onlinued) In May. we hekl our firsl thought ￿adetshIp Sumrnil. Global Chlzen NOW, which brought tcwether over 300 leaders across the private sedor, advo¢acy, eniertainfflent, govemment and philanthropy lo drive aclion and demonstrate impact lo end extreme poverty and prole¢X the planet NOW. The summit fe8tured globally-￿￿0Wned leaders from both the prrvate and public seclors induding Ursula von def Leyen. PresKJent of the Euro￿an Commission". Chuck Robbins, Chair and Chief Executive Officer of Cisco.. Mia Mollley. Prime Minister of Bathdos.. Nancy Pelosi, Speaker ofthe U.S. House of Rep￿sentatives,. Ema Solberg. fomer Prime Minister of Nopway, and more. The Surnnit Wa5 live streamed on YouTube and c8n on our channel. G7 In June our 380 deg￿e G7 campaign culminated in several a(*￿111@s that requested 8 r8commitmenl to the 0.7% ODAIGNI g081, additional inveslmenls in response to the global food and nutrition crisis, a pdoritlsatlon of gender equality. including the care economy and investments into the Wotkl Bank Child Caro Incenllve Fund. as well as addition81 investments into the global pandemic reswnse by G7 counlries. In the weeks njnning up lo the summit we mobilksed our Global CitvLens with dpJttal actions and created a comprehensive story arch, consisting of explainer conlenl across edilonal, vKJeo and social medis, which was amplified by influencer5 and taknl in order to Push our asks. This regionalised, 360 degree tampaigning 8ppro8ch resulied in the hKJhesl monthly action number this year with more than 12.2K actions in the Geman market. oov 4 Q*)*wMO•koi¥. 20. Jy islohnson ￿￿POTUs #Ju#irtTrudoaii words oren't enough- oct Hrrfmd￿l￿yIp mry•t>wr 0.7% far yhar• ofaw. ¥nd fvndl for •￿1 whknjdnle￿￿tI*S •r• addition*l. T4AIAcII In the week of Ihe 8CtU81 summk. 8t 8ertin's bKJgest square. we ￿corded and screened a video of activists from the Global South telling the G7 what outcomes they wanted to see from this yearfs sumrnit, arKI lagged G7 leader5 on social media. We also projected our campaign slogan onto the chancellery. where German chancellor Olaf Scholz has his office and hosted a thought leadership event in an art gallery in Berlin, briThJing together political stakehoklers, reps from G71G20 embassies, adivists, influencets and avil So￿etY to discuss the action needed from G7 countnes to achieve an equitab￿, sustainable and healthy fthure for everyone. Page 4 GLOBAL POVERTY PROJECT UK IA Company LHnited by Guarantee) TRUSTEES. REPORT ICONnNUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and p8rfomiance (continued) We handed over our End Extreme Poverty NOW open btter. sp3ned by various artisls and Glob81 Crtizens. lo G7 leadets, along with personal messages by Global Citizens all over the W0￿j, 85king decision makers to stepup. Being on the ground at the Leaderfs Summrt in the 8avarian Alps with a small te8m wa5 extremely succe55ful, as we We￿ able to Secu￿ over 1.000 eamed medla hits with 4 3.IB estimated global reach,11.18 reach in Gerynany lonel. While the poliiical outcome of Ihe Summit was disapwinting, a key win was Ihe new comm￿ment of 4.sbn USD In resp)nse lo the current food and nutrition crisks. Here is some ofthe press coverage from the campavJn: DPA: {Gemanyl:Pre•G7.. Ahead ofthe summit at Schk)ss Elmau: Gb)bal Citizen alls on Ihe G7 lo end exrtrem8 wverty in th6 workl. Reuters: G7 Aims to R81se $800 Billion to Counter Chlna's Bell and Rood REUTERS rtST4*1• Tagesschau.de:Unily in the Mountain Idyll Und Friederike Meistei. DeutschlanddiEektOlin von Global Citiztn.teilte rnit.. 'Die G7 5chieb@n eine 8erechte Welt auf die lange Bank- und das in einern Mement. in dem die Welt mehi denn je iuwr mutige und fort5chrittliche Entscheidungen br3uchL" Dip atmsten Men5chen def Wek hatten keine Zeit. Lv warten."Da55 die G7 einem MomEnt. indern sKh 8k)bale Kri5en dlatnatisch wer￿harfen. ei8entlich Aur Status Quo 5tatt Fortschritt verkunden, 1st eine herbe Enttayschun8.$0 MElSter. The Independ•nt- Bart Ki-moon opad:The G7 is our chance to kickstart dimate adion- here's how Page 5 GLOBAL POVERfff PROJECT UK (A Company Limited by Guardntee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achlèvements and perfornmnce {conlinued) the G7is our chance to knckstart climate action - here's how Le8 Echos (France): Friedericko Rodor 0￿d G7 . (thef4,￿uVr8 ou mauvals rem8ke? Polltlco:The G-7 lums out lo b8 Swiss cheese in the Gemmn mountains "Chancellor Iolafj Scholz promised a'crncial b￿st for international climate action. and he didn't deliver,- said Friederike R()der, iiee i)re.sident af Global Ciliztn. ai) Idi'ocac), group. 81oomberg: G-7 Leaders Just Made Sucr2ss al COP27 Even Harder Financial Tlmes: G7 accused of 'backslKling' on C￿Mate goats over energy Secufiiy feats Frl¢derike R(vJer. *Thinrdlrert(>r21 Gknbalthiltth. A US r￿J￿pr￿1 all￿￿1￿)n thlll •diwileAfar pr¥AvrtioTh. wdihEWt¢Othror thec71nevtl￿￿ WAI ThYr)'dlsAp￿J1￿Lir4-. ShrA)Snted to theArt￿p.9(￿mre ake mEaninxful newdimate finimrecomrtkilm¢r•L44nd de￿￿•￿e for phH%iWO￿tc￿A1. Global Citizen Festiv41 In September, we celebrated our 10th Anniversary F•stival. with simutt8neous even15 in New York and on 81ack Star Square in AGcra. The 2022 Global Cittten Fesitval had more than US$800 million of pledges announced lo end exlreme Foverty NOW plus USSf.6 billion was announce(I by the European Commission and Canada as part of the seventh replenr5hment of the Global FuThJ to Foht AIDS. Tuberculosis, and Malaria on Sgpt. 21. Additionally, five companles signed up to the UN4ed Raco to Zero initiative. pledging to reach net-zero emissions by 2050. You check out the full impact re￿rt at httpS".II￿¥.g1Oba1CltlZen.org1en1conlenVglobakcitrzen-fe5f•v8￿2O22-1rnpaC￿l or slream the hKdhlighls on our YouTuf* ch8nnel. Gerniany Trinforced status as a Cfiamp￿n for global educalion and Committed an additional É10M lo Education Cannot Wait, responding io the education needs in Ukraine, al the Global Citizen Festival. The commitment vhyeo by development minister Svenja Schuize was shown al bolh the NYC and the Accra show, as well as being parf of the global broa(IrASt. Europeanawide a￿1VItieS and impact Over the course of2022. 16 European Govemments o)mmitted more than $4.9 billion across the Stalld up for Ukraine and End Extreme Poverty NOW GampaKJns. This indude5 fwst time Global Citizen commitment makets Estonia, Lithuania, Czech Republrc. Slovakia, and Sh)￿nIS. Funding went to CGIAR, Educatron Cannot Wait. FAO, The Global Fund, GPEI. ILO, IRC, UNFPA, UNHCR, UNICEF, UN Women. in addition lo domestic resource alh)cation. bilateral humanitarian aid and 8 range of NGO'S wa GlobalGiving and other initiatives in line with Glob81 Citizen's campaon goaL8. Page 6 GLOBAL POVERTY PROJECT UK IA Company Limited by Guarnnlee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and perfomMnce (continued) In addition, nearty &.2 billion 01 the É4 billion in bans announced by the European Investment Bank at Stand up for Ukraine have been prtyJr8mmed aThJ alloeAted to support Ukrdinian Refugees in Poland and the Czech Republic G20 & COP27 During November 2022 the team worked han1 scoping oul coverage opp)rtunities for th8 COP27 8nd the G20. In 8dv8nce of both summits, we hekj a joint media briefing wrth ONE and EG3, where we oullined our policy asks and answered questions from the media including.. AFP. FT. Le Monde. Tage5S￿e9el and Der Spiegel. Additionally, we held indivhdual media bfiefings with key joumalists including.. DPA. Reulers, The Guardian and The Independent. Wrth the Gommunv]ue drafts conslanlty changiNJ, the team were quick lo ￿spond, pushing out multiple timely statements. We were also able to secure intel and share wilh key media lo further leverage coverage opportunitiès. Desplie the unsalisfadory oulcomes of ts)Ih summits, we were 8ble to generate a combined total of over 1.5k media hrts. We fealured in a number of ReuleTr 8nd DPA stories, which were syndicated across the workl. Coverage hvJhlpJhls induded.. The GLS8rdian. Reuters. The Guardian, Reuters, The Independent, Sky News Australia, DPA. The Washington Times. Les Echos. Addltlonal UK activiti0$ By the end of 2022. we had 447K Glot)al Citizens registered in the UK. Our total UK reach on owned and operated Ghannels was 75 Million. UK global cilizens look 130.4K aclions in 2022, bringing the all lime tol81 number of actions taken by UK Global Citizens to 1.5%1. Following thelounch of the End Ureme Poverty NOW campA Yun, we hek1 an event 41 Kino's College London on March 23. which focused on Women on the frontlines of the climate crisis.. We were joined by an incredible panel of speaKer5, IfiGluding S8lffla Zulfquar (DI￿￿Or of the Myration 81anket filrn}', HRH Princess Marie-E5marehJa ol Be*Jium' Rose Kobusinge, a passionate youTrJ climate activist from Uo8nda,' Joanna MacGregregor, COP26 negotiator and strateglst in the Cabinet Office; Sherrie Silver. actiwsl and chorecgrapher, and Professor Anne Kafpf, author of"How Women Can Save Iho Planet.. The panel had a very rich discussion on themes related to the film, including the disparily belwèen the number of female climate acliwsts compared lo those in deCis￿n making roles, the need to get more women into politics. and the role of the reglon. DETrdAND IUUITV Everyone Should Watch Thi5 Short Film About How Cllmate Change Impacts Women UK Aith What Is It, Where Does It Go. ond Why Does It Matter.. It'5QnE Dt m05t pliwlrtu1lor•￿Trp￿CV L4iin *rtr*m powrty. PbiuEtsY Salrrwj Zvlliqix idd *Lvk Ymiiko Page 7 GLOBAL POVERTY PROJECT UK (A Company Limited by Guarantso) TRUSTEES. REPORT {CONnNUEDI FOR ThE YEAR ENDED 31 DECEMBER 2022 Achlevements and perfomiance (continued) On Monday 16th May. the UK Goknemment published ils h)ng awaited Intemalional Development Strategy. To this end, we lined up Peter RiGketts (fomier Natlonal Security Adviser) and Mark Lowcock (Former head of UNHCR) to publish an oped in the Times, which outline(l our response lo the strategy. We also launched a campaign action. targeting Foreun Secretary Liz Tntss. calling on her to restore funding for women and glds. As part of our woth lo put pressure on the UK govemffent lo rai8e the budget, GC UK joined forces wkh range of UK NGOS to call on R￿h1 Sunak lo pay for a*J for Ukraine from Treasury Reserves rather than the existing aKI budget. As part of this, we had meetings with the Tre8SUry to conduct t*hind the scenes advocacy, 8s well as PLtblic actions and an advert in the Times. The G7 demonstrated an importallt moment for this advocacy and we worked dosely wrth colleagues in Gemjany and other G7 countries on a joint campaign. ERTY Th• UK'# Nrt Oolng Enough for Humofvltarion Ald. H•r•' How You C4n ehon9•Th•t. BY Whot Dithrent Countrhs Art Dolng (or N•t) to H•lp Ukraln•'6 R•fug••5 Hwes ihr wprld lsactiry DThtP•Ukiow r*fu9w Ir4￿5. *T£S5 L￿￿E￿. Page 8 GLOBAL POVERTY PROJECT UK (A Company Llmited by Guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and performance Icontlnued) Can l Host a R•fu9w From UkroineP e (Jkroine's •¥ On 22nd May, we were del￿nted to award Payzee Mahmod with our UK Citizen Prize at the Glob81 Crtilen Pflze 8ward ceremony. Payzèe is 8 chlkj marriage survivor and c8rnpa￿ner, and has been key to passing the law to ban chikj marriage in Englarsd and Wales. Ve contlnued Our work wllh Payzee Ihroughoul the year and had hèr on our stage at the Global Citizen Festival in New York in September aloTrJside Host Pty8nk8 Chopra Jonas. actres5 and activisl conn￿ 8rilion, UNFPA Executive Director Na181ia Kanem, and Gern￿n Prlze winner Anuscheh Amir-Khalili. to sland united in a rallying call for women's r¥JNs. STAND ' us EOUITY Polrtical turmoil in the UK limlted our go¥*mment-level engagement in the second half of the year, and, wrthoLrt a government in Flace, we were unable to campaign for specific commrtmenls on our stage. That saKI, we continued lo meel wrth key stakehoklers in the UK to maintain engagement ahead of Ihe elections in September. and maintained regular contact wrth MP He￿n Grant, MP for M8Kdstone and The Weakj & the Prime Mini5te¢s Special Envoy on Girts. Education" Harriet Thomson. British Hpjh Commissioner for Ghana,. MP Tom Tugendhat; and Alok Sharma, COP26 Preswjenl. On the dvJTtal campaigning front, than 30.OOQ global c6tkens took action, diTrctly calling on Ihe UK to erKI fossil ftjel li￿nsing. We collecAed these messages from across the UK to demon5trale Ihe wwje-ranging support amongst the public for a govemment that ends fossil fuel reliance and forge5 a llew path for the UK as a global renewable enerTJy le8der. Addi(ionally, we launched an open letter to the Prime Minister. We reached out to various members of the UK govemmeni and re(EiNEd a reswnse from Dame Karen Pierce on beha￿ of the UK go*mment. Meet Payzee Mahmod, the Global Citizen Prize Winner Who Made Child Marriage Illegol in England ond Wales Aftw survwiw FGM rynd child morrlaoe hèrself in thÈ UK. Por￿• comptsigDèd to efid Page 9 GLOBAL POVERTY PROJECT UK (A Company Limited by Guaranlee) TRUSTEES. REPORT (CONMNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievemonts and perfomiance {continuedl Additional Gemiany Activities In addttion to Our global moments and the G7 C8mp8YJn. we ran a number of important local campaigns in Germany. By the end of 2022, we had 160.759 Global Citizens registered in Gennany. Our lot81 ￿ach landed at 22.5 million and we have increased the numter of a¢Xions taken per user on average by 18 %. Global Citizens in GeThany took 66.115 actions in the past year. OOA Campaign A crucial p8rt of our work in Gemiany in 2022 conlinued lo be our OOA {overseas development assistance) campaun, aiming lo achieve the spendings for ODA arKJ humanitarian aid to be al least 0.7% of Gemany's Gross Natlonal Income. Since the rtrew German govemffent look office at the end of 2021. t*)th the 2022 and 2023 budg$l were neooli8ted in 2022. IM)ile the 2022 budgot was passed in the beginning of June. including in¢rea5ed spending for ODA and humanilarian aml. passing the 0.7% target. the first draft of the 2023 budget, which was nego118ted unlil November, indic8ted a 10.2% decrease in devek)pmenl spendlng. The I0￿seen cuts for several murtilaleral organisalions were particularty alatming and led us ￿l￿gIng our Camps￿n narrative on the mportance of muttilater81 organtsalions. W8 bultt 8 380° campaign based on the claim Vlr zahlen auf euch" fwe count on youl. addressing Ihe progressive govemrnent wrth our exp8(aations. but also encouraging them to keep their promises. Our angl8: Raise awaréness for the importancè of multilateral organisations- and ¢he need to finance them adequately throvgh the ODA budget. In olller io prevent the cuts, we mobilised our Global Citizens through actions and explainer content. Multi- Ivas? Wie wir die groQen Kris•n mit Multilateralisrnus angehen konnen Deut#thkJnd wli #•ln•n B•itragftlrglobal• zwornm￿orb•itkUrIOfi- das koThnst du dag*gen tyn On the advocacy side, we ¢oonJinaled a joirrt letter, s¥Jned by 8 organisations, which was sent to key decision makers in partiament ahead of the relevant budgetary sessions and hosted a wrtual briefing on the importance of ODA for members of padiament and their tea￿$. Further we aLso PLFshed our ODA a(*K)ns via email armj with influencer sUPPOrt on our Gennall Social media channets, as well as wrth creative social media assets- heavily focusing on the planned cuts for multilateral organisalions and their imp8d. In the fillal budget week. we wtAish&1 a joint P￿$S release wrth partner CSQS Page 10 GLOBAL POVERTY PROJECT UK IA Company Limited by Guarnntee) TRUSTEES. REPORT ICONTINUED FOR THE YEAR ENDED 310ECEM8ER 2022 Achievem•nts and perf0m￿nce Icontinued) on how the cuts were affeding Geanany's reputation as a fO￿njnner for humanitarian awj arKI development cooperation, which was picked up by outlets. •ACTIONOFTHEWEEK pt The resutt.. The Feder81 Minislry for E¢onomlc Cooperation and Devolopmenl (BMZ) and th8 Foreyn Office (AA) each received an addition81 É1 Bllllon compared to the iniiial budget draft- making the BMZ'S ioial budget for 2023 É12.2 bn, which marks a 2% decrease compared lo the 2022 final budget drgft. Since our campaKJning heawly focused on mullilaleral spending due to heavy cuts we saw in the Calynet's draft. we were pleased lo see that through thg pAdiamenlary budget process. mutti18leral spendina increased by a tot81 of É122 m compared to the Cabinet's draft. BMZ IIGlobal Intematlonal Womon's Day For Inlemallonal Women's Day on 8 March, we launched a targeted oommunications c8mpavJn that volved around our cooperation with local female artist, who produced assels for our activatlon at an on-srte demonstralion in Berlin. As part of th¢ campaign we also launched a German-language Global Cliizen Inslagrgm channel, which allowed us lo leverage our contenl and aclions and lo take our influencer engagement to a new leval. ODA in Afghanistan & th¢ Ilrst annlversary of the Taliban laket)ver When the Talbian took power in Afghanislan in 2021, we slarted a petition with our partner CSO Visions for Chikdren, asking the Gemian govemmenl to continue lo support Afghan ciwl so￿etY through ODA funds. As those funds remain frozen and the hum8nKtari8n sf(ualion in Afghanistan is cat8Strophic. we used the fitst anniversary of the Taliban lakeovef on 15 August to secure thousands of S￿natOrieS for the petition lttrough influerbcer engagement and handed rt over to Meml)ers of Parfiament. In Afghani5ton heTr4cht . humoTritOre Kata5trcohe;. l Jahr Ubernahme der Taliban 'in Afghanistan Mehrqtsdkn Hglft•dwB•vOlk4rw Dos Lana steckt in einer ' hvmtsnitaren Katostrophe ow Page11 GLOBAL POVERTY PROJECT UK {A Company Limited by Guaranteel TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 310ECEMBER 2022 Achievements and perfomiance (continued) IranMomen'$ rights Given the protests in Iran following Mas8 Jina Amini's death. we tearned up with Germ8ny's 2022 Global Citizen Prize winner Anuscheh Amir-Kh8lili lo draw our Global Citizens, attention lo this issue and sh¢)w solidarity for the people in Iran by launching a Vkyeo action, and by creating several conlenl pieces with Anuscheh and fellow Irani8n actiViSts. All Iran ￿lated assets gained huge traction in teThs of action-taking and social media eng8gemenl. especially on the German GC Inslagr8m channel. knSt*E* Global H&alth Campaigning . ￿￿￿11hD Global Fund Campaign Ahead of the Global FurKI repknkshment, we CaMpa￿ned heavily on our digrtal channets. Given that the Gemian Govemmenl had alre8dy buim in their Global Fund contributh)n In the 2023 budget draft, our goal w8s for them lo increase Ihis pledoe lo meet Iheif lair sh8re. To give them an hjeal plalfonn for thi5. we organised a slakehokjer confe￿nCe in partnership wrth CSOS and invited the minister of developvnent cooperation. Svenja Schulze came and pledged the Increase we wanted lo see, le8ving Gemany's Global Fund commitrnenl 8t E1.3 billion and emphasising in her speech Ih8t thè civil society campawJning was crucial for the increase of the commitment. Pollo As Germany hosted the World Heahh Summlt and GPEI ￿pIeniShment in Berfin, we wanted to make sure their commitment provides a strong stgnal for glob81 health. Knowing that they had budgeted their comrnitmenl for 35 million, we sel up a bweel aclion targeting the Gernan government and Minister Svenja Schulze. asking them to commii at least É 50 Million for the fyht against Polio. INe pushed the action with diffe￿ nl emaiLs to our Global Citizens and our social media channels. Our ask was ampltfied by local influencer Sarah Bora on her Inslagram (53k followern). staff Organisalionalty, Global Citizen adjusted its structure durirvJ 2022 to enabie it to continue to meet its charitable objectives and be as efficient as possible, given the challenging econom￿ enwronment caused by the Ukraine war, sKJnificant inflation and the continued impart of the pandemic. Th￿ has meant a reduttion of staff in Europe. Al the end oflhe year we had a Staff base of 13 Peop￿ wot*ing in the London office, 2 staff membe based in Ihe Berlin office arKI 1 member employed in France. Page 12 GLOBAL POVERTY PROJECT UK (A Company Limlted by Guarnnts•) TRUSTEES, REPORT ICOP¥llNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Financial review . Golng concem After maklng appropriate 8rouiries, the tru&e8s have a reasonable e￿￿tal￿n that the Group has adequate r8sources to contlnue in operational extstence forthe foreseeable fvture. For thLs reason, they Gontlnue to adopt the golng concem basis in preparlng the financlal statements. Further det8lls reg8rdlng the adoption of the golng ¢oncem basls Can be found In the A. 99.9% of thls came fr￿n the US thar*y w*h very kttie from dhersourGes. Expenditure for the perfod was £2.153m (Global PoNerty Pr(4ect UK £1.67m and Global Cltizen Deutschland £O.Sm) (2021.. £2.1 m). The UK office woths alorvJ5K1e olher Global Cltken offiGes to achleve global goals $0 expenses and income can shlft annualty between offices depending on staff skill sets and the activities undertaken. and thts15 refie¢ted in th8 resulis in 2022. The cosi of generating funds acAY)unted for 3% of the total (4% Global Poverty Projec* UK and 0% for Global Citkon Deutschland) and relates to UK staff buibjlng partnerships which generated Income into Gknbal Poverty Projecl Ino Income received Into Global Poverty Project Incwas used to fund the UK charity. Support costs in 2022 accounted for 10% of expenditu￿ (11% of expenditure for Global Poverty Project UK and S% Global Cilizen Deutschland). The UK charity proth manageffEnt and adminkstration support for all Europe operations Including Global Cftizen Deulschland the 100% owned subsidiary of Global Poverty Project Page 13 GLOBAL POVERTY PROJECT UK (A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Financlal review (continued) UK Ltd and pro￿￿eS management suptKsrt lo other intemational GC offices in Canada. Australia, Nigeria and South Afric8. Govemance costs aecounted for 3%,(3% GPP UK and 1 % GC DE) leavtng 84% for direct chafitable actlwties {82% Global poverty Projecl UK and 94% Global Crtvzen Deulschland). How Global Cltlzgn u8•d Ils frjndlng How Qlob41 CMz•n UK u*•d Il• fundlng • ¢•mp•bwkng. Lty¢ HowGltsb•l CIILt•n D•utschl•nd uvd Its fvndlnst • C•mpavJnirf- UK e1fflpal￿q. (ltsb•l ¢**wlpnln9.Olo￿l lÉsu•i On thè balance sheet unrestricted reseTrEs starKI at £558k at the end of the year and restiicted funds at £0 d. Prtnclpal risks and uncertainli The UK Group is reliani on Global Poverty Pfoje(I Inc for resources, supwrt. direction and income 8nd has confimed rt will continue this support for the foreseeable future. In 2022 less than 1 % of the UK charity s income came from other sources, a reduction from 2021, atthough some non-financial support and advice were re￿iVed from other partnerships. The relationship with Global Poverty Projed Inc is dynamlc and support flows in both directions as the two charities recognise they can achieve their goals faster if they work closely together, with some UK staff managing US based stair. Reserves are monilored dosely, as per the reserves policy to further ensure the stabilty of the UK o)mp9ny. The challenging economic environment throwJhoul 2022 and 2023. caused by the Ukrnine w8r, the pandemic, the energy crisis, global recession and hwdh inflation has many wwjespread consequence5. The levels of poverty continue lo increase. making our mission to eThJ extreme poverty harder but MO￿ urgent. Global Poverty UK has proved to be agile and ￿aPtable. and had a successfvl year despite the cthallenges, continuing to challenge Govemments lo work towards global 4uilable solutions. Many of Gc's sponsors h8ve reduced levels of income lo use for chariiable purposes so GC has ￿$t￿jCtU￿d to reduce tts ￿re costs 8nd reduce Tts Inerabilrty. All staff worked priffiarity from home for the majority of 2022 wrth some office working. They were supported wtth mental heaith awareness training and regular well being activities. In 2023 hybrKJ working was introduced wtth staff retuming to the office 3 days per week. Page 14 GLOBAL POVERTY PR¢XIECT UK (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Financial review Ic¢)nllnued) The hloh pmflle GC enJoys. our scale and pre*bious a(thitles. the SUPFQrt we receive from both headlln8 stars and royaty and our worklwhJe broadcasts has led to mallclous attacks, b)th cyber attacks and SCTUtiny by loumalists into our organi88tlon values arKI the partne￿ we hava. Th9105s of Global Povety Project UK'S reputatlon woukj be slonlfiGant and our Increased profile increases thls rtsL Th8105s of data from cyber-attack. leading to contravention of GDPR. is a further rfsk. To manage Ihe5e rfsks, we have rolwst rr procedures and appropflate F(Jlicies and wé carefuty ￿ns￿lef our partners. We choose to work wlth ¢ornpanles seeking to Improve. as well as those who are already leading by example. as this wlll lead to fast8r development and accept thai Ihis Is somewhat contro*rslal. Our model of cost sharing on iaffjer projects, ensures that OLbr flnancial gxposute Is manageabl8. Polltl¢81 Instablllty rAUs￿l ty the economlc the UK the troubl8s facJTrJ the currnnt UK govemment, a polarlsation of US polltlcs 8nd the aftermath of Brexli ￿UkI impact the a￿litY of thg charfly to aGhleve lis ml¥slon. The reglstratlon of a separate chartable company In Gemiany is ¢omplet8. whlch Is 8 subsldlary of the UK charity. Legal ad￿ce ha5 been sought to mituate ony fiJrth8r offjanisatlonal rists and thesè have been reflected In our strategy for 2023. e. Prfnclpal fundlng Global Poverty Projed Inc Is the prtrn8ry fuTraer of Global Pobprty ProJe(a UK and Rs sub5hJlary. They are the US and olobal wrslon oftho UK Group wtth the Same al￿ts and objecti¥ts ofthe UK Group. The Group was a sub recipient of fundlng from the Gales Foundation (vla Global Poverty Project Inc). ¢Jher sbnlfic8nt funding was received from Crab Cohon and thfr Rockefelkr Trusl In 2021. a. Constitirtlon Global Poverty Proietx UK Is reglstered a5 8 (*artabk company by guarantee and was set up by Memorandum of Assoeiatlon. The charity L% constliuted under a Memor8ThIum ofAssocithn 8rrfJ15 a rwJlstered charity (number1137815). The trustees who are 8L80 th8 dlrecaors forthe purpose of company law and who seTved durlng the year are: Mr J Reid {respJned 31 October 2022 Ms S Dhowe Elba (appointed 20 July 2022) Mr J CeTTell M5 S Chebli (app)Inted 2 February 2022) Mr C Cohon Ms H Pawlby Dame K E Plerce DCMG (app)inted 27 Awil 202Z)) Mr P J Rvogeleer The princlpal object ofthe Group [5 forthe public charftable of raisw awareness aTrJ encouraging actlon forthe Trlief of global poverty in the United 1Qr￿d0ffi arKI ovetseas. Page 15 GLOBAL POVERTY PROJECT UK (A Company Limited by GuaTrnlee) TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 b. Methods of appolnlmthrt or eloction of Truste8S The management ofthe charity is th8 reS￿n51b1Ity ofth8 Trt￿teeS who are eleL#ed and ¢OThOPted under the teffl￿ of the Artictes ofAssocla￿n. C. OpJanlsatlonal structure and declslon4naklng pollcles The mlnlmum number of tnJslees15 3 and the maxlmum 12. The trustees may appolnt any indiNTrYual as a tnjstee. etther lo fill a casual vacancy or as an addluon to the current truslees. so far as it does not cOntra￿ne tts govemlffj documents. In 2021 the chahty undèrtook a sPJnllkant ￿eW of Ils t￿￿1 uslno an extèmal consultant. As a result ofthe flrKllngs lh6 board membershlp was extended to ensuR repYesentath)n from a broader demographlc, wlth tho flrst German f6presentati￿ appoKrted on 2 Feb 2022. Apwoaches to ther ￿ent￿lI t￿￿1865 are ongolng. Glob81 Poverty Projecl UK Ltd K8 part ofa gtoup ofcharftle5 whkh shares aims and obJeGllv8s. The Global Poverty Projeca Inc sels the Global Strategy. wh*h ts then tslknred 81 the regional level to create m8xlmum Imp8Ct In key European mathets. The tnjstees oversee thks process 8nd Ils Implemenlatlon In close consuAatlon wrth the senh)r European staff. Gknbal Pov8rty Project Inc, {GPP inc) 8 company reglstered In the USA. L8 the sole member of the charrly whlch grwes f< rbht to appolnt and rernove the charitys tru*ees. None of the trustses ha￿ any benellclal h)terest kn th? Group. d. Pollcle8 adoptsd for tho Inductlon and tralnlng of Trn8te•s The Induction ts condurAed by Slmon Moss. COO ar￿ Chlef Product and experfenGes offlcer, from the Global Poverty ProJe(a Inc wtth the support ofthe VP of Global Advocacy. The board menknrs recelbp relevant d0￿ments ((JJrrent global and regional busines5 pl8nlstrategy.' a(xounts: audtt. articles of assocaation; d*es of tKJard mediNJs 0￿r the next year). They also meet #rKI are briefed on thelr obligations by Simon MosslLtia Henshawlmthael Shekjrick from the Global Poverty project Inc, the ¢halr of the Board for Glob81 Poverty Projed Inc and the Wi￿ President of Intemational Markets. Tralning made avallable to Board rnembers. . Pay policy for staff As far as possTr)le all salarles in GC are benchmarked. Salary tenchmarking was updated duTirwJ 2022. Staff performance and pay re￿ewS are undertaken Iwice annualty across tho organi%ation. During 2022 the Presidont of Global Poverty Projec# Inc was wwjnsibk for Settl￿ the salaries ofthe majortiy ofstaff withln the organisatton. Page 16 GLOBAL POVERTY PROJECT UK (A Company Llmlied by Guarantee} TrUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 f. Organlsatlonal structure and (leclslon maklng The Group Is controlled by the Injstees who are supported by key m8n8gement st8ff who m8ke day to day decisions for the Group. Al events arKI specific eypeTrJilU￿ musi be apprO￿d by the trustees In a¢cor(lance w6th Ihe Artldes. g. Relatsd party rnlatlon8hSPS Durlng the year under revlew the Group had reL8ted party transactk)ns wlth Global Poverty Pmlect In¢, USA, a ompany Incorporated In the USA arKI sol8 mgrnber of the Group. Durfng tha year the Group recelvgd a total Income of £2.146m (Global Poverty Projecl UK £1.59m Gbbal Cklzen Deuls¢hland £559k) (2021 £2.05m). The Europ8 offl(% beneffted from grant furKllng fri¥rn the Bln and MelkKla Gates FouThJatlon, whlch Is also the employer of truslee Joe Cerrell. Llve Natlon. whlch Is the emF4oyer ofIn￿ John Rekj arKI 8 Va￿￿1 partner of Global Cltlzen. supported our global actlvlttes In 2022. Cralo Cohon gave a personal donatk)n of $50,000 to th8 UK charfty In 2021 to supwrt a campalan run ty Gh)bal Poverty Projec* Inc for vacclne w4utty kn Afrfc4. h. Flnanclal rfsk manaqemont The Trustees have asses￿1 the m4or rtsks to whlGh the Group and the CoThyny are exposed. In partlcular those re￿Ied to the op6ratlons arKI finances of the Group and the Company, and 8re s8tlsfied that systeffts and procedures are in plae* to mitoate exposure to the mapr rigks. ', Trusts8s' indemnities Tho Group has quallfylng thlrd party Indenity proiislon In ￿ce for Indomnity aDalnst Ilabl1￿Y Incurred by trust66s. subjecl to conditions set oul in the Companies Art 2008. Page 17 GLo￿L I¥)VERTY PROJECT UK (A Company Llmlled by Guarnntee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Plans for futu￿ periods In 2023, we will continue our End ethm8 Poverty NOW ¢ampap3n to ensurè thé world takes urgant adion to create a fair orKI sustainable future for all. We will do this by focusing on three key areas.. dèmanding fair financing, taknng urgent action to hait the ¢knmate crsis., and empowerirKJ women and girls. We will achieve these goa15 through a number of global events and campawJns. indudh)g the Gbbal c￿1zen Prfze and the thought leadership Summit GC NOW in ￿11 2023. a campaun Nnnww up to the Financing Summit hosted by the French President Macron In Palis in June and the Global Cltizen festival In New York in September. In addition to the global events, we wlll also run local evenls aThJ campabrffj in the UK Gemiany. France and elsewhere in Europe and beyond. Membftrg, Ilablllty The Member of the charty (Glob81 p0￿rtY ProJe(* Inc) ou8r8nt88S to ￿rttr￿Xrte an 8mount not exceedlng £1 to the 8ssets ofthe charity In the event of up. Infomiallon on Fundralglng Pra¢Uw4 Global Citlzen has not eNJaoed dlrectly wSth the general pu￿le to ask for fu￿11￿ for ttsetf. nor Worked with third party for the purpose of rnlslng fvnds during 2022 or 2021. 8afeguardlng Global C6tlzen's Intera(alons with members of the publlc occurthrough Informatlon sent Ma emBII. soclal medla channels or placed on th8 web slle, where inf0mat￿n is offered freety. At events. securtty at a51 leve15 IS paramount. Robust and detailed plans are in place with team brlefirvJs to 8nsure 811 staff understand the plan5. Global Citizen staff recehffj tralnlry In safgJuardiffj tssues. Employeo involvement The Group's policy is to o)nsull and dlscuss wfth employees. at Meet￿￿3s. matters Ilkely to affect employees, Interests. InfoTmatlon of matters of ￿n¢effl to employees is given through infomiation bulmins and reports which seek to 8chieve a common awareness on the pat of all ern￿oYeeS ofthe flnanrAal aTrJ economic factors affe¢tlng the Group's pBrfomwnce. The Group does not roullnely use Vo￿nteerS. and dhj not U58 any volunteers during 2022. Key manaoement stsff at 31 December 2022 were: Martin Fo￿Y1h Presldeni. International p￿eCts Friederfke Meister SeniorAdvocacy Diredor Fri8derike RrAer P￿ljen1, Gk)bal Advoc4 Wendy Courtenay Financial Controller. Company Secretary for Global Poverty PYoJec* UK and GeschaftsfQhrung for Global Cilizen DeutschL8nd Page 18 GLOBAL POVERTY PROJECT UK (A Company Limited by Guarantee TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Statsment of Trustees. responslbllftles The Trustees (who are a150 the dIreC*o￿ of the Company forth8 ￿￿e5 of company law) are responslble for prep8rfng the Trustees, ReF)Ort and the financial statements in accordance with appllcable law and United Klngdom Accountlng Standants (United KI￿Orn Generalty Ac¢JiuntiThJ Pradlca). Company law requlres the Trustees to prepare fin8ndal statements for each flnancial year. Under company law, the Trustees must not approve thè financlal state￿nIS unless th8y are satisfied thgt they give a true and falr view of the state of 8ffalr5 of the Group and the Company and of their incomlng resources and applicatlon of resources. Includlno their Income expenditure. forthat perw>a. In preparing these flnan¢lal statements, the Trustees are requlred to.. selec* sultablg accountlrKJ poNcJes 8ThJ then appty them ¢onslsientty', observe the methods aThJ pylnciples of the Charities SORP (FRS 102): make ludgm8nts and accounting estlmates that are reasonable and prudent; state whether appllcable UK Accounllng Standards (FRS 102) ha￿ been followed, subjed to any m8terfo1 departures dlsdosed and explained in Ihe financial statements., prepare the finandal statements on the golng concern basi5 unless ￿ is inapproprlate to pYesum8 that the Group wlll contlnue En buslness. Th8 Trustees are r8sponsRJle for ke8plw wJequat8 8eeounUrKJ re￿ that ar8 suffiolent to show and explaln the Group and the Companvs transartK*ns and dtsclose wlth reasonable accuracy at any time the financlal position of the Group and the Company aTra enat4e them to ensure that the financl81 statements comply wRh the Companies Act 2008. They are also iesponslble for safeguarding the assets ofthe Group and the Comp8ny and hence lor taklng reasonable steps forthe ar#J detecllon of fraud and other irregularflles. Dlsclosure of lrfomiallon to audllors Each of the p8rsons who Trnsiees at the tlmg when thb Tn￿e8s, Report Is approved h83 confinned th8L' so far as that Trusteels aware. ther8 Is no relev8nt audll 1rrf0m￿tI0n of whlch th6 ¢harltable group's audttors are unaware, and that Trustee has tsken all the stet6 that 0￿ht lo ha￿ been taken as a Trustee In orderto be aware of any relevanl audll infOnt￿lIOn and to establish that the ¢harilable groups audriors are aware of that Infomiation. AudltopJ The audltofs, Accendo Consuttlng Ltd, have indicated thelr wHlvbJness to ￿nthTrue In office. The deslgnated Trustees wlll propose a motw)n reappointing the auditors at a meeting of the Trustees. Appfoved by ord r of the members of the of TnJsi8es and spaned on thelr behalf by: Mssa (Chair of Trustees) Date.. Page 19 GLOBAL POVERTY PROJECT UK (A Comwy Limited by Guarantsa) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOBAL POVERTY PROJECT UK Opinlon We have audlted Ihe Ilnandal statements ol Global Ptylerty Project UK (th¥ ￿arent eharltable companv) and Its $ubsldlarles (the 'group) for the year ended 31 December 2022 vknld) comprise the Consolidated Statement of Flnancial AC￿VItIes, the Consolidated Balance Sheet, the Company Balance Shoet. the Consolidated Statement of Cash Fl¢)ws and the reloted ntstss, induding a summary of significant accounting policles. Tho financSal reporting framework that ha$ been applled In their preparation is applicable law and Unfted Kingdom Accounting Stsndards, Incluthng Finand81 Reporting Standard 102 Th8 Financial Reporting Stsndard applicable In the UK and Republlc of Ireland. (Unlted Kingdom Gen•rnllyAGcepted A¢¢ounting Prad]¢e). In our oplnlon the financial statsments: glve a true and falr vlew ofthe state ofthe Gr￿p* and ofthe parent charitsbh conyanys affalrs a8 at 31 Docamber 2022 and of the Group's incomina re9our￿ and ap￿ICatIon of re80urce5, Induding its Income and expendlbJr• for the ￿ar then ended; have been woperty prepared In accordan￿ ￿ Unlted Kknkthm Generalty Acc8ptsd Aecountlng Practice" and have been prepared In a¢cordan¢e vAth the rewlrements of the Charllles A¢t 2011. BaBls for oplnl¢ We ¢onducted our 8ud5t tn accordance vAth Intemallonal S￿dards on Audlllng (UK) (ISAs (UK)) and applleable law. Our re8pon8lbilitlo¥ under those stsndards are fijrther deS￿bed in the Authtor8' responslblllUe8 for the audlt of th8 ffinanclal 8tstementg secllon of our reporL Wo 8r8 Indep￿dent ofthe Group in accordance vAth thè ethlcal requlrements that are relevant to ow audit of the fffjandal statements h the Unlted Kjngdom, Including the Flnanclal Reporung Coun¢ll'8 EthIGal Standard. and we have fijlfilled our other ethl¢al reSpo￿lbIlItieS in aceordanco these requirements. We b￿1￿• Ihat the audit evidence we have obtalned is sufficient and approp￿818 to providè a basis for our oplnion. Conclusiong relating to golng conc•ffl In audiling the Inanclal ¥tstements, we have conduded that tho Trustees. u8e of the golng concern ba818 of accountkng In the preparalon ofthg finandal ststemerrts is approprlats. B88ed on the work V•P have perbmied, we have not identified any matsrfal uncertalnties relating to events or condmlons that, In(Ivldually or Gdlectively, may cast ¥lgDlficant doubt on Ih¢ Group's or the parent ¢haritable companl8 ablnty to ¢ontinue as a 9)ing concem for a period of at least Iwelve months from vthen the financlal ¥tatsments are authoTised for188ue. Our respon8iblibes and the re¥ponsl)llib6s of the TnJstee8 Yalh respect to golng concem are described In the relevant sectsons of this repo Page 20 GLOBAL POVERTY PRoJecT UK (A Cwy Lllnited by Guardntee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOBAL POVERTY PROJECT UK (CONTINUED) Other Infornmtion The other Infom)allon comprises the Infonnatlon Included in the Annual Report other than the ffinanclal gtstements and our Auditor3. Report thereon. The Twstees are re8pon$lble for Ihe other information contalned thln the Annual Report. Our opinion on the fjnandal ststements does not cover the other informatlon and. except to the extent olher*fj8e ex￿IctUY stated in wr report, we do not express any form of assurancè conclu8lon thereon. Our responsiblllty Is to read the other information and, In dolng so, con8lder whether the other Informa￿0￿ is materially incons￿ent wltrt the financlal statements or fJJr kn0%4ledge obt8ined In tho course of the audit. or otherwise appears to be m8terlalty ml88tated. If we identlfy such matsrfal Inconslsten¢le8 or apparent m8terlal misststements, we are requlred to determlne wlwther this &4ve$ iise to a mat&rial mi86tatement kn tho financ141 ststements themselves. If, basèd on the work we have performed. we Mndudè that them 1$ a materlal mtsstatèment of thls other information, we are required to report Ihat lacL We have nothkng to report In Ihb reprf. matt*￿ on whlch we aro r•qulrnd to r•port by exe•ption We have nothlng to report kn re8pe¢t of the foll￿ng mattern *there Charltlos (kcounts and Raport&) Regulalon8 2008 req￿ us to report to you H, In our oplnl¢n: the Infonnallon glven kn Ihe Tnrntee8' Rewt 18 ln￿￿16t8nt In ￿ matertal re8pect ￿1th the )Inanclal ¥tat8mgnts' or the parent ¢haritsbt8 cony8ny not kapl euffident accounthig record8. or th• parent tharltable coThpany finaTrdal 8tatements are not In a￿eement tho accountlng record8 and retttms,. or we have not Tec•lved all Ihe knfmtion explanallon8 we requke for our audt Rosponsibiliti￿ of trn$tg05 As explalned more fully in th6 Trustees. Re5pon8tbtlltieB Statement. the Trustee$ (Mtho aro also the dlrector8 01 the charttable company for the purposes of Gompany law) are responsible for the preparation of tho financlal statements and for being satisfied that they ulve a true and falr vlew. and for Such internal control as the Trnstees determine Is necessary to enable the preparallon of fmandaf 8tatsments that are free from materlal mi88tatemenC whether due to fraud or error. In preparing the flnanclal statements, the Trustses are responslble foi a8se$5ing the Group's and the parent ¢haritable companys abifity to continue as a going coneem, (fjsdosing, as applicable, matters related to golng concern and using the golng concem basis of accountlng unless the Trugtees eith8r intend to liquidate the Group or the parent chatitable co￿VanY or to ¢ea8e oparatior*, or have no realsli¢ alternative butto (lo so. Page21 GLOBAL POVERTY PROJECT UK (A c￿￿p￿Y Limited by Guarantee) INDEPENDEiif AUDITORS. REPORT TO THE MEMBERS OF GLOBAL POVERTY PROJECT UK (CONTINUED) Audltors, ve8pDnslbllltks for the audlt of the th*clAI ststern￿ We have bMn appolnt•d a8 audtor under sedlon 151 of the Charflles 2011 and report kn accordance vAth thè Act and relevant regulatlon8 madè or havlng effecttherninder. Our Ob￿ctIveS are to obtskn reasonable a$8urance about vthether the finandal statsmtnts as 8 whole ere freg from material m188tatsmènt. vthether the to fraud or error, and to156ue an AudltOTS' Report that Includes our oplnlon. Reasonable as8urance 18 a level of as8uran¢e. but Is not a guarantse that an audll conducted In accordance wlth ISAS (UK) will alway8 detect a materlal mk8statsment V•hen it ex18ts. Misstatsments can artse from fraud or error and are conyldered malerfal If. knthvi(knaUy or in the aggreg8te, they could reasonably b8 expected to influence the economlo ded81ons of users tsken on the basis ofthese finandal 8tatsment8. Irregul8rflle8. Indudlng fraud, are Instances of non-￿mplIance wlth la￿ and regulallons. We dèslgn proe8dure In line ￿ our re8ponslbllhles, ouuined above, to detect materlal m1$6tatsments In respect of irregularllies, Indudlng fraud. The 8xient to whlth procedure8 •re o)abl8 of detsding irnegularille8, Indudlng fr8ud Lg detoiled below: Extent to vthlch the wdit wa• ¢oDshl•rnd capfibl• oldthtsbg Irr•gul•rlll•s, ineludlng fraud: We Idenlfy and I￿08$ the rl•k8 of mateflal m188t•tsm￿t of tha finandal 8tatsm8nts, vknether due to fraud or effor, and Ihen de81gn and perform autht procethwes reyn81ve to th068 d8k8. Indudlng obtdnlng audit evidence that Is sufficlent and approwtste to provlde a basls for our oplnlon. Idantifying and •ssts8lng Wllal rfsks relatsd to Irregularfoes: In identifylng and a88￿[ng ri$k8 of mat¢rlal misstatement In re8pect of 1rrewlai￿el. Indudlng fraud and non oThpli4nce vAth laws and regulatlonB. we ¢onsidered the following: The nature of the Inth$ty and sector, control •[￿ronMent, resuft8 ol our enqulri8s of management about thalr Idenllffication and assessment of the rfsks of I￿egula￿lIeS and any matters we Identified having revlewèd the charitsble companV$ poli(788 and proceojres" the matter8 dIs￿$sed among the audlt ¢ngagemtnt team rggardlng how 8nd where fraud [rA￿t oC￿r In the f￿an¢[al statements and any potsntlal Indlcator5 of fraud. AB a result of these procethjres, we considered the opportunllle8 and Incentlves that may exist wlthln the organisation for fraud and identified the greatest potsntial for fraud N) relaWon to revenue recogniuon. In common wllh all aUd￿S under ISA8 (U￿, we are also rewired to perf￿M 8pedfic wocethres to re8pond to the r18k of management overrlde. We al30 obtsined an understsnding of the legal and regukqtory frameworks that Iho charitable company operates in and fo¢u8ed on those laws and regulalloTts Ihat had a dreGI effect on the determina￿On of material amour and dsclosures in the ffinanGial ststements. Ajjdlt reBpon80 to risks idéntified As a result of perforThlng the above, ￿ Idenliled rovenue re￿￿1110n a5 key authi matter related to the potendal risk of fraud. Our Proce￿re8 to respond to risks identified induded the follothryng: revievkng the finanaal 8tatsment (IsdoyJro5 and teslng to suworfing d0￿Men￿tIon to as¥e88 compliance probisions of relevant Sas•B and regulations de8cnThed as having a threct effect on the financlal #tatements: enwklng of manag8men( concerning a￿81 and ￿tential and claimg; Page 22 GLOBAL POVERTY PROJECT UK (A C￿Y Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOBAL POVERTY PROJECT UK (CONTINUED) perlormlng anatyu￿l woceOJre$ to Identify any unuwal or unexpeckd relallcffl8hlpg that may IndlGate ¥k6 of matsrfal misstatement ￿e to fraud. 1jbknr￿ng an understanding of proviBion8 WKI ￿￿￿555n9 wllh management to understand tho ba818 of recognition or no￿reCog￿NIon of tax provisions. and in addressing the risk of fraud through management ovenlde of controls, testing the appropriateness of Journal entries and other adNistments", assessing ￿elher the judgements m8de in m8king accounting estimates are widicative of a potential bias., and evaluating the buslness rationale of any 8ignlfiGant transactions that are unusual or outslde Ihe no￿al cour8e of bu8in888. We also eommunicatod relgvant Idèntlfied lawB and regulations and potential fraud rfsk8 to all engagem¢nt team members and remained alert to any indcations of fraud or nonwmplian¢è with la¥￿ and regulations throughout the audit. Beeau8e of the Inherent ￿mttalIonS of an aud( there * 0 rfsk that we *il not deted all Irrègularities, Including those leadlng to a matedal m15Statement in the Ilnand818tstements C￿ non-compliance wlth regulallon. This ri8k In￿eaSe9 the more that compllanee T￿*th 8 law or re&wlati￿ 18 removed from the events and transaction8 reflected In the 17n8ncl818tstements, as w¢ knlll bt ￿kelY to become aware of In8tsn¢tB of non-compli8nce, The r18k 18 al80 greater regarding I￿egularl1188 OCCUNtng the to fraud rather than error, a8 fraud Involve8 Intentional ¢once*lmen( ftsrgeryi coUu3ion. omisoion or mlsrepr*J•ntallon. A fijrther de8¢rlptlon of our respon￿bIllI1eS for the audtt of the ffinancial statements is located on the Flnancial Reportlng Coundl's website at: This desuipltsn forms part of our Audllors, Report. Use ol our report This report r6 made solety to the charilablg companrf8 trustees, a8 a body, In accordanc8 with Part 4 of tho ChartU88 (Accounts and Reports) Re￿latIOnS 2008. audll work ha8 been undertaken 80 that wè mI￿t state to the charitsble companvs Inthes those matters Y•E are required to stste to them In an AudltorB' Report and for no other purpo8e. To the lullest extent peffliitted by14w, we do not accept or assume responslbillty to anyone other than the charitable company and Its member8, a8 a body. for our autht work, for thls report, or for thè oplnlorffj w¢ have ft>rmed. Accendo Consultlng Ltd Ch8rtered Cerlified Accountants and Sta￿￿￿J(St￿s Dats: 11 lov3 Accendo Consulting Ltd are efigblo to act aB audtors In tsmx ofseL*ion 1212 ofthe Companles Act 2008. Page 23 OLOBAL POVERTY PROJECT UK (A Company Limited by Guarantee) CONSOUDATED STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPENDITURE ACCOUND FOR THE YEAR ENDED 31 DECEMBER 2022 Total lunds 2022 Total fund8 2021 funds 2022 funds 2022 Inct)m¢ frorn". Donalon8 and leg8cle8 Charltable activttEes Investments 105262 1,899838 S7￿$8 397 2W04.700 57P98 397 2,034,073 124488 16 Total Incomg 106262 1,956,933 2062,195 2, 159,55T ExpoDdltur• on: RalBlng fiJnd8 Charflable acOvHles 71,731 1I76P54 71,731 2081J16 54854 2,038257 105362 Total •xpondlturn 106282 2,047,786 2,153m7 2,097. 105 Nel movem•nt in fund• 190,802) 190,8521 62,452 ReGonclllallon of fund¥: Totsl fund& brought forward Net movement In fvndj 64B,532 (90l62) 848132 I90￿52) 586,080 62,452 Total funds cathed foThvard 667,680 667,680 648.532 Page 24 GLOBAL POVERTY PROJECT UK IA Company Limited by Guarantee) REGISTERED NUMBER: 07186340 cor+JSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Flxed assets Tanglble as8ets 14 8367 10,T80 82ri 10.780 Current assots Debtors Cash at bank and In hand 16 352.160 285P28 490.008 276.079 766.087 Credltor8: amounts f8Nlng the bthln one year 17 (88h66) f12&335) a37,752 Total as•ets less ¢urr•nt IlAbllltlg• 648,532 Not u8•ts excludlnq ponslon a$•4t 648,532 T¢)tal n•t as•ots 648,532 Charity funds RestriGtsd funds UnrestriGtsd funds 19 19 648,532 Total funds ,680 648,532 The Company entmled to exen4)tlon from audt under 8e(4lon 477 ofthe Conwan1è8 Act 2006. Thè members h8ve not requlred the enuty to ¢)btsln an audt for the year In quesllon In accordance secllon 476 of the Companies Act 2006. However, an audit18 required In a¢¢ordance vlth ¥￿tIon 151 ofthe Chath$ Aet2011. The Trustees ackno%￿edge their responsibilities for comp￿ryig ￿1th Ihe requirements of the A¢* wilh respect to aGGountlng recordg and preparntion of fjnanaal statements. The financlal statements have beén pr¢pared In accord•)¢e vath the pro¥lstons applICab￿ to enthles subject to the small companies reglme. The Ilnanclal statements were ar4Yoved and wthoTSsed I$￿e by the TnBt8es and signad on their behalfby: Page 25 GLOBAL POVERTY PROJECT LIK (A Comp•y Linitad by Guarnntee) REGISTERED NUMBER: 07186340 CONSOUDATED BALANCE SHEET ICONTINUED AS AT 31 DECEMBER 2022 Pls Sabrina Elb (Chair of TN8tee8) Date: OQ The notes on pages 30 to 51 fm part olthe88 ststements. Page 26 GLOBAL POVERTY PROJECT UK Company Limbted by Guararktee) REGISTERED NUMBER: 07186340 COMPANY BALANCE SHE AS AT 31 DECEMBER 2022 2022 2021 Flxed assots Tanglble assèts Invostmonts 14 15 8AFI 21.741 10,780 29,999 10.780 Current asmts Debtor8 Cash at bank and In hand 16 2￿.7150 276,079 766,087 Crgdltots: amounts falling (*Je wilhln one year 17 (128,335) Net current a￿et5 637,752 rotsl a•s•l$1os• ¢urr•nt IlabHIII•* 64a532 Net assets excludlng penslon asset 644532 Total net u•ets 648,532 ChaTIty funds Re8trl¢ted fvnd8 Unre8tr1cted fund8 19 19 560 648,532 Total funds 660,046 648,532 The Companvs net movement in fvnd8 for ttle year was q88,487) (2021-£6Z452). The Company was entilled to exenwtion from autht under section 477 ofthe Conyanies Act 2006. The members have not required the enoty to obtsln an autht kn the year in question Hi accordance I￿th secli 476 ofthe Companles Act 201A. However. an auifft Is requlred wi accor￿Ce vAth 8ectlon 151 of the Charlues A¢t 2011. The Trustees acknohledge their responsibilities for ¢oM￿Y11g ￿lIh the rewirements of the Act respect to accounting records and preparation of financid statements. The flnandal statements have been prepared In aCCor￿ce wtlh the Prov￿10n8 appIl￿ble to entitles gublect to the small eompmnies regime. Page 27 GLOBAL POVERTY PROJECT UK {A C¢mpany LThited by Guarantse) REGISTERED NUMBER: 07186340 COMPANY BALANCE SHEET (CONTINUED) AS AT 31 OECEMBER 2022 The financlaS statements weTe apwoved and wthorknd lor Issue by the TNstees and signed on thelr behalfty. Ms Sabrin (Chalr of Twst¢e$) Date: ii*h Ao23 The notes on page8 30 to 51 fomi part of the68 Ilnandal slatsments. Page 28 GLOBAL POVERTY PROJECT UK (A COMp￿Y Lknlted by Guarnntee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Cash flows from O￿TalIng acllvllles Net cash uged tn operthg a¢d￿lIeS 21rt13 (233, 134) Cash Ilows fmm investing activities Purchase of tanL4blg frKed a68ats (4,692) Net cash used In Invesllng actfvitlos 111.564) (*L092) Cagh flows from lknanclng actfvlOb$ Net Gash provided by finanGkng xllvltles Change In and ¢￿h •qulvalonts ID th• ￿aT Ca8h and ca8h equlvdènts at the begknnlng ofthe year 9049 37,728) 513.805 276N9 Cash and cuh equlvalonts at tho end of the ￿hr 285028 276,079 The nots• on pag•8 30 to 51 form part of th1}￿ fin?￿d81 statem￿ts Page 29 GLOBAL POVERTh PROJECT UK IA CoM￿Y Lwnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 General infommtion The thaiity is a company limlted by guarantee and reg5tered In England & Wales. In the event of the charity being wound up. the liat4lity ￿ respect of the guarantee is limited to £1 per member of Ihe charity. The charl1￿ regl8tered office adthe￿ IB akno Its wlndpal place Ofb￿[na$a18. 8 Al Saints Stree( London. N19RL. A￿￿￿tIng polkies 2.1 Basls of pr•parntlon of stat•m•nts The finandal 8tatements have been prep8red h 8Gcordance Ylth the Ch8rfUe8 SORP (FRS 1021- Accountlng and RepLVt¥ig by Charrtle8.' S18tement of Recommended Practice appficable to charhie8 preparing their accounts kn accordance *ryth the Flnandal Reporllng Stsndard 8ppllcable In the UK and Republlc of Ireland IFRS 102) (effectlve 1 January 2019), th8 Fln8ncl81 Reporting Standard appllcable In the UK and Repubuc oflreland (FRS 102) the Comp￿108 Act 2006. Global Poverty Project UK meets the definfoon of a publlc bènefft entity under FRS 102. A88ets and Ilabi11ti06 are Inllally Tecowised at hiskniol cost or transaction value unless otherwi8e ststed in the relevant accountlng poll¢y. The Con¥olld8led Statement of Fknwthl AdMlle8 (SOFA) and Con¥olldated Balance Sheet consolidate the finanaal ststements ol the Company and 8ubBldl4ry undertaklng. The results of the subskllary are con80Udated on a Ilne by lkne baslg. The Company hag taken athantsge of the exenytlon anowed under $e¢Uon 408 of the Companles Act 201% and has not presented Its OV￿ Ststement of Financtal ALtNitie8 In these financial 8tatements. After maklng 8PFwiate enwlrfes. the Iru8tee8 have a reasonab￿ •xpe¢tslon that the Group ha8 adequate resources to Mnllnue kn operalional ex15tence for the foreseeable future. For thls reason they contlnue to ath>pt the golng ¢on¢•rn basis ￿ prepaFing the financial 8tatsm&nts. Page 30 **GLOBAL POVERTY PROJECT UK (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **2. Accounting policies (continued)** ## **2.3 Income** All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Government grants** Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred. ## **2.6 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 31 GLOBAL POVERTY PROJECT UK IA Company LThked by Guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Acc4>unting poliei4s (eonknuod) 2.7 Foreign currencies Monetary assets and ￿abl￿tFes denominated In hwgn ￿TrenGieS are translated Into sterling at ratss of exchange Nllng atthe reporttng date. Tran8aclion8 In forelgn tyJffende¥ are tr￿￿1•tOd into stsrflng at the rats rufing on the dats of the tran8acllon. Exchange galm and100￿& are reCo￿lsed In the ConBolldatèd Statsment of Ftnandal Actlvlde8. 2A Tanglbk fix•d assats md d•preciallon Tanglbte frAed a88ets are Inltially recognl8•d at ¢08L After re￿￿llIOn. under tha cogt modol, tanglble fixed assets are mea8ured at Cost le88 accumulated depreclallon and any accumulated impairment losses. AJI costs kncurred to brlng a langlble fjxed a88et into it8 intended wor￿ng cond6tion ehould be Induded In the measurement of ¢osL Deprecl8llM 1$ charyd ￿ a¥ to allocate Iho cort of tanglble Ixed a8$0ts 1088 thelr rgsldual valuo over thelr 88llmated useful Ilves. . Depredatlon18 provSded on the follov•ryng base8: FI￿re8 and ffttlngB Computor oqulpm¢nt - 20% on cost - 33% on c08t 2.9 Invoslmonts Flxed 888et Investments are a form of Ilnandal Irthment and are wiitialy recoLmi8ed &t thelr transaction ￿$t and ¥ubsequenty measured at falr value gt the BalanGe Sheet date, unles8 the value cannot be measured reliably wi ¢a8e it 18 measured at Cost less ImpairmenL Investment galn8 and los8e$. whether realised or unreallsed. are comblned and presented as 'GalnsllLosses) on inve$tmerrts' in the Consoad8ted Slatemént of Finon¢ial Acllvllie8. Investments in 8ubsidaries aro valued at co6t le88 provision for Inval￿enL 2.10 Debtor5 Trade and other debtors are recognl8ed at the seluement amount after any trade d8COUrt offered. Prepsyments are valued at the amount prepaid net of any trade dlscounts due. 2.11 Cash at bank In h*MI Cath at bank and in hand indudes cash and $hort4emi hlghly liquld investments v*ith a short maturlty of three month¥ 0r1¢83 from the dats of acqursition opening of Ihe dep05rf( gr similar account. Page 32 GLOBAL POVERTY PROJECT UK (A Comp•y Lknited by Guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting poltcios (continued) 2.12 Llabllttles and provlsl¢ns Uabililies are recO￿l¥ed *hen there18 an obllgadm at the 8A14nce Sheet dats as a re8utt of a past event, f( is probable Ihat a transfer of economic benefft will be requlred In $ettlemenL and the amount ofthe settlement can be e8lmated reliabty. Llabllrfles are reco￿18¢d at tha amount that th* Company •nldpatss It wll pay to 8ettle th* d•bt or the amount it ha8 recelved aB advanwl payThents for the good8 or 8eNlceB tt must provlde. Provl8lons are meawred at the best esllmate of the amounts requlred lo settle the obllgatlon. Whera the effect of the ￿me value of money Is materlal, Ihe provlslon Is based on the wesent value of thos8 amounts, d18counted at the pre-tsx di59)unt rate that rellects the ri8k8 8peclfic to the liability. Tho unvlndlng ol Ihe d$¢ount Is reCOgn￿ed in the Con801idated Statement of Ftrtancial Acdvllies as an¢e cost. 2.13 Flnanclal kn8trumwrts The Group onty ha8 financial a$8¢t8 and finandal IlablltlleJ of a klnd that quallfy as ba$lG ffnanclal In8truments. Ba8lc finandal Instruments are Inltialty recognised at transaction value and subsequently measured al thelr ¥etUement value vAth the excepllon ol bank loans whl¢h are 8ub8equenlly measured at amorU8ed cost U8lng the effectlve Interest mèthod. Rentak pald under operallng lease8 are ¢hargod to tho Consoildated Statement of Flnandfjl Aclivilies on a straitht linè bg8i$ ovw theloase term. 2.15 Penslon• The Group operatss a defined c¢)nlnbufron penslon 8cheme and the pen￿￿n tharge represents the amounts payatle by the Group to the frmd In respect ofthe year. 2.16 Fund acwlnting General funds are unrestricted fiJnd8 vthich ar• avallable for at the discretion of the Trustees in furtherance of the general objectives of the Group and have not been degignated fv other purp08e8. Restrfctsd funds are funds *thld) we to be used In accordance wllh 8peclflc restrlctlons Impo¥ed by donors or véhlch have been ralsed by the Group for parlI￿]aT Pu￿OSe$. The ¢oBts of ralslng and administering wch fund$ are tharged against the specific fund. The aim and u8e of ea¢h restriGtsd fund 1$ set out in the notes to the fr￿￿¢181 statements. Inveslment In¢ome. galns and10s8e8 are allocated to the •pprowi•tti fund. Page 33 GLOBAL POVEiYfY PROJECT UK (A Comwy Linited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Crftl¢al a¢¢ounting esthnth and of judgment matss and judgments are ¢(￿lInUallY evaluated and are based on historlcal experience and oth•r factors, including eXPeCtatity￿ of fi￿Jre events that are belleved to be reasonable under the cIrcun￿tances. Critlcal ac¢ounlJng estimatss and gs8Unwti￿$. The Group makes estimates and assumption5 concemlng the fU￿re. The resultlng 8ec4)untlng e6timat88 and assumptions wll. by definrlion, Seldom equal the related aotyal resu￿8. The trustees do not consider that there are any key assumption8 con¢eM￿g the fithre and r)ther key 80urc88 of estimation un¢8rtalnty at the balance sheet date that have a slgnlfflcant rfsk of (ausing a material adjustment to the G4rrying amounts of assets and li8blS1ie8 wllhln the next finandal year. Incomtt fr¢Mn donallons and18gacios Total nds 2022 funds 2022 funds 2022 DonaUon8 Grants 700 1,898,n8 700 2,004￿1X) 105262 Totsl 2022 105282 1.899,438 2￿04,700 Restricted Unrnstrlded lunds funds 2021 2021 Tot81 funds 2021 Donallon8 Grants 36,315 65,2 37,215 1,990,858 1,931,6Q8 Totel 2021 101.565 1,932,508 2034,073 Page 34 GLOBAL POVERTY PROJECT UK IA COMp￿Y Lwnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 In¢oma from charitable aGtiviti Total funds nds 2022 2022 Income from chaTltable actfvttle8- Canyalgns UK Income from Charllable aclvNle8- Campalws Global 50 57,048 07048 T¢•tal 2022 57,098 51,098 UnrestrKted fvnd8 2021 Totsl nds 2021 Income from charltqblè aetlvlttèg- C8ffpalgns UK Income from charltsble actlvlJe5- Campalgns GlrA)81 429 125,039 429 125.039 Tot812021 125,468 125,468 Investm￿( InGoThMb Unre•tricted funds 2022 Total funds 2022 Inv•8trnent kncome 397 397 Unrestricted fvnds 2021 Tot81 funds 2021 Investment kncome 16 16 Page 35 GLOBAL POVERTY PROJECT UK (A Company Lkniled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Expendilure •)n raising funds Costs of rnl¥lng volunlary kn¢ome Unrnstri¢ted funds 2022 Totsl funds 2022 c￿t¥ of mhlng vokrntsry in¢om•- wages •nd salari•s Costr of ra181ng votuntsry incomo- penslon costs 70,111 1,620 70,111 1,620 Totsl 2022 71,731 71,731 Page 36 LOBAL POVERTY PROJECT UK (A C￿aTry Limitad by GUaraTht￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Expendknrn on ralsing funds l¢¢•ntknued) Costs of rnlslng voluntary (cq¥nlknuedTr Unre8trfrted fund8 2021 Total nds 2021 Costs of ralsing voluntary in¢ome- wages and Salario Costs of raiBing voluntwy Income- pension CQBts 57,317 1,637 57,317 1,537 Tot812021 54854 58,854 Anatysls ￿ eXPend￿re on charftablp aclfvltles Summary by fund type Restricted UnroBtricted funds funds 2022 2022 Total 2022 Campalgn8 UK Campalgns Europe Campalgns Glob81 Special events 240.478 455.551 846,157 433,868 240,478 660,813 846.167 433,868 1052K2 Total 2022 105,2V2 1.976,054 2J)81,316 Pagè 37 OLOBAL POVERTY PROJECT UK (A Company Llmlted by Gtsamlltee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 knalysis of •xp•ndiknre m Charitab￿ aclivities (continued) Summary by ￿Thd type Icontinued) Rastiictad Unrnstridgd funds fvnds 2021 Total 2021 Campalgns UK Campaigns Europe Campalgns Global Speclal events 65.035 293, 130 415,807 911,994 315,755 35Q165 415.807 948,524 315,755 Total 2021 101,565 1,936.686 Z038,251 Analysis of •xp•nditure by activities Activities undertaken dlTrctly 2022 Support costs 2022 Total funds 2022 Campalgns UK Campalgns Europe Campalgns Global Speclal events 197,585 495.179 736,447 382,496 42,893 65.634 109.710 51,372 240,478 860,813 846,167 433P68 T¢>tsl 2022 1,811.707 289,609 2.081316 Page 38 GLOBAL POVERTY PROJECT UK IA Company Linited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analysls of gxp8Thdiiurg by activili95 l¢onlinued) Actlylttes undertaken directly 2021 Support costs 2021 Total funds 2021 Campalgn8 UK Campaigns Europe C•mpalgn$ Global Spect818vènts 52,162 44582 180,089 44.919 358, 165 415,807 948,524 315,755 367,225 788,435 270.836 Tot8121r21 1, 732,499 305,752 2,038,251 Anatysls 0¢ dlrect costs Campalgns Cryalgns CampAlgns UK Europ• Global 2022 2022 2022 Special •vtnts 2022 Total funds 2022 Staff costs Deprec4ation Oth¢r Charitable EXpen￿￿re 140,532 2.351 91,514 284.170 2.561 199.582 608.M1 5279 104.451 31 5,393 2,793 S4,640 1A48,636 12,984 450,187 Total 2022 197,585 495.179 736.447 382,496 1,811,707 Campaigns Campa￿nS Caynpaigns UK Euro Global 2¢721 Speu'al events 2021 Tot81 nd$ 2021 Staff costs Deprecralion Other Charrlabie Expenaiure 198.676 2146 104181 195.352 1,959 169,914 6L>J,753 4,608 174.OT4 226,731 1.852 42.253 1.230,512 10.565 491.422 Tc*al 2021 3G6,(X13 36T,225 T88,435 270.836 1,732,499 Page 39 GL08AL POVERTY PROJECT UK (A Comwy Llmited by Guarantea) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Anatysls of eXWMlliure by xthiitles (¢onlInU￿ Analysls of support Gosts Campa*ns Canpalgns Campaigns UK Europe Global 2022 2022 2022 8peclal ents 2022 Tolal funds 2022 Stsff costs Campalw expen8•1 Governance ¢08ts 27.641 6.348 44,814 5.007 16,013 32,840 7,644 10.888 167,183 48,084 66,382 27,065 20,577 Total 2022 42.893 65,634 109,710 51.372 269,609 Campaign8 Campwgns C8mpaign8 UK Eump8 GI¢￿81 2021 2￿21 Sp&clal events 2021 Total funds 2021 Stsff C Camp81￿ experoe8 Gov¢man¢e coets 31. 29,075 4.712 14.795 68,413 57,63T 34,039 27,492 3, T48 13,679 156,845 70,541 74366 15.863 Totsl 2ff21 52,162 4Q582 160,089 44.919 305,752 Anal￿￿ of •p•elnc •xp•nsg5 Included eXpenth￿re are the folltt4kng tr￿s8(alOn8. kndlvldual Itoms Amount Reason Total Ey-grala payments 379 13275 Full and final settlement 2,936 Full and final settlement 3368 Full and final settlement 2￿00 Full final settlement Page 40 GLOBAL POVERTY PROJECT UK (A coMp￿Y Linited by Ouarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11. Audft0￿. rgnwn•rnllon 2022 F¢09 p#yabl& to tho Group* authtor for tho autfrt oflhè Groupb arnual accounts 4,600 3,000 12. Staff costs Group 2022 Gmup Company 2021 2022 Company 2021 Wage8 and 8818rle8 Sodal securfty costs Contrlbufjon to defined witrlmrtlon pn￿(￿) ochem88 Ih1U76 1.3ctI,665 191930 1511,941 1,170,292 190.677 1.36KI,665 193,941 29m7 26,282 29,007 26,282 1A38,412 1.520,888 1 M9,976 1.520, 888 rlng the yearthe Company made lerThination and ex watia p￿ents of£38k (2021.. £40k). The average number ofp•rnon$ •nyloY￿ by lh• Conwny thrfng th8 ￿rWa& a8 follo￿. Group GrDUP Company 2021 2022 No. Company 2021 No. 2022 Admknlstrallon ond management 25 24 21 24 Page 41 OLOBAL POVERTY PROJECT UK IA Company Lwnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. Staff costs (continued) The number of employees *those employee beneffts (8xdudng employer pen81on costs) exceeded £60,000 wa8: Group 2022 Group 2021 In the band £60,001-£70,000 In the band £70,001-£80.000 In the b8nd£90,001-£100,000 In the band £100,001- £110,000 Totsl remunerallfm pald to key management per8onng1 was £287k (2021: £286k). Page 42 GLOBAL POVERTY PROJECT UK (A Company Llmlted by Guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 13. Trustees. remuneration and oXPWSeS Durlng the year. no Trustee8 received any re￿￿erallon or other benellis (2021- £NIL). During the yew ended 31 Dewnber 2022. no TNstee expertses have been wi(axred (2021- £NIL). 1& Tanglble fixed tss•ts Oroup and Company Flxlurn$ and r￿ing5 Computor oquipment Total Cost or valuatkjn At 1 January 2022 AddlUon8 Disposals 29,VJ8 22O30 9,600 17,1691 52,426 11,664 {7,169) At 31 Dec8mber 2022 31,560 25361 56,821 At 1 January 2022 Charge for thè yèar On dsposalj 23,569 6,380 18,077 5,961 (OJ93) 41,646 12J11 (6093) At 310e¢on*er 2022 29,929 18fft35 48,664 N•t book value At 31 Oecen*er 2022 1.631 6￿28 8,257 At 31 De¢ember2021 6.027 4, 753 10,780 Page 43 GLOBAL POVERTY PROJECT UK (A Company Lirnited by Guarants8) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDEO 31 DECEMBER 2022 15. Fixed ass•t inve5tmw Invastmants in subsldlary companles coM￿Y Cost or va￿all0￿ Addilions 21.742 At 31 Decen*er 2022 21.742 Not book valu• At 31 Decenkner 2022 21,742 16. Dobto Group 2022 Group Company 2021 2022 Company 2021 Due withln ono Trade debtors other debtors Prepayments and a¢￿Ued Income 319m9 29J46 36, 745 51, 102 2181 308089 29.346 1946 436, 745 51,102 2161 3FA,180 490.098 340,680 490.008 Page 44 GLOBAL POVERTY PROJECT UK (A Conwy Lwniknl by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 17. Creditorn: Amounts faUiThJ due withkn one year Group 2022 Group Company 2021 2022 Company 2021 Trade credtors Other tsxation and $odal se¢￿￿ty Other c*edltors AGGNa18 and deferred Incom 3,571 37,221 6,479 41J94 40,444 33,361 13,402 41,128 33.361 13,402 41. 128 37221 6,479 23,113 88.666 128,335 70,384 128.335 18. Financlal Instfum• Group 2022 Group 2021 Company 2022 Company 2021 Flnancl41 assets Flnandal 888ets measured at falr va￿* through Income and expend￿re 286,928 278.079 269,7SO 276,079 Page 45 GLOBAL POVERTY PROJECT UK (A C￿Y Liimted by GuaTrntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 19. Statgm8nt of fvnds Statemènt of ￿nds. Gurrent year Balance at 31 December 2022 Balance at 1 January 2022 Income EXpendI￿re Unvestrlcted fvnd• General Fund8- BU fundB 648,632 1,906,933 {2N7,784 507,680 Restrlcted funds RegtrEct¢d Fund&- all funds 105262 1105,262} Total ol funds 648032 2,062,196 12,153047) ssr,680 Page 46 **GLOBAL POVERTY PROJECT UK** **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **19. Statement of funds (continued)** **Statement of funds - prior year** |**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Funds - all funds
**Total of funds**
**20.**
**Summary of funds**
**Summary of funds - current year**
General funds
Restricted funds|_Balance at_
_1 January_
_2021_
_£_
_586,080_
_-_
_586,080_
**Balance at 1**
**January**
**2022**
**£**
**648,532**
**-**
**648,532**|_Income_
_£_
_2,057,992_
_101,565_
_2,159,557_
**Income**
**£**
**1,956,933**
**105,262**
**2,062,195**|_Expenditure_
_£_
_(1,995,540)_
_(101,565)_
_(2,097,105)_
**Expenditure**
**£**
**(2,047,785)**
**(105,262)**
**(2,153,047)**|_Balance at_
_31_
_December_
_2021_
_£_
_648,532_| |---|---|---|---|---| |||||_-_| |||||_648,532_| |||||**Balance at**
**31**
**December**
**2022**
**£**
**557,680**
**-**| |||||**557,680**| Page 47 **GLOBAL POVERTY PROJECT UK** **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **20. Summary of funds (continued)** ## **Summary of funds - prior year** |General funds
Restricted funds|_Balance at_
_1 January_
_2021_
_£_
_586,080_
_-_
_586,080_|_Income_
_£_
_2,057,992_
_101,565_
_2,159,557_|_Expenditure_
_£_
_(1,995,540)_
_(101,565)_
_(2,097,105)_|_Balance at_
_31_
_December_
_2021_
_£_
_648,532_
_-_| |---|---|---|---|---| |||||_648,532_| ## **21. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Unrestricted**
**funds**
**2022**
**£**
Tangible fixed assets
8,257
Current assets
638,088
Creditors due within one year
(88,665)
**Total**
557,680|**Total**
**funds**
**2022**
**£**
**8,257**
**638,088**
**(88,665)**| |---|---| ||**557,680**| |**Analysis of net assets between funds - prior year**
Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2021_
_£_
_10,780_
_766,087_
_(128,335)_
_648,532_|_Total_
_funds_
_2021_
_£_
_10,780_
_766,087_
_(128,335)_| |---|---|---| |||_648,532_| Page 48 **GLOBAL POVERTY PROJECT UK** **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **22. Reconciliation of net movement in funds to net cash flow from operating activities** |Net income/expenditure for the year (as per Statement
Activities)
**Adjustments for:**
Depreciation charges
Amortisation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash provided by/(used in) operating activities**
**23.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**24.**
**Analysis of changes in net debt**
Cash at bank and in hand|of Financial
**At 1**
**January**
**2022**
**£**
**276,079**
**276,079**|**Group**
**2022**
**£**
**(90,852)**
**12,311**
**1,776**
**137,848**
**(39,670)**
**21,413**
**Group**
**2022**
**£**
**285,928**
**285,928**
**Cash flows**
**£**
**9,849**
**9,849**|_Group_
_2021_
_£_
_62,452_
_10,565_
_810_
_(369,132)_
_62,171_
_(233,134)_
_Group_
_2021_
_£_
_276,079_
_276,079_
**At 31**
**December**
**2022**
**£**
**285,928**
**285,928**| |---|---|---|---| ## **25. Pension commitments** The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £29,007 (2021 - £26,282). Page 49 **GLOBAL POVERTY PROJECT UK (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **25. Pension commitments (continued)** Contributions totaling £6,479 (2021: £5,466) were payable to the fund at the balance sheet date. ## **26. Operating lease commitments** At 31 December 2022 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows: |Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2022**
**£**
**30,368**
**-**
**30,368**|_Group_
_2021_
_£_
_66,129_
_49,597_
_115,726_|**Company**
**2022**
**£**
**30,368**
**-**
**30,368**|_Company_
_2021_
_£_
_66,129_
_49,597_| |---|---|---|---|---| |||||| |||||_115,726_| The following lease payments have been recognised as an expense in the Statement of Financial Activities: ||**Group**|_Group_|**Company**|_Company_| |---|---|---|---|---| ||**2022**|_2021_|**2022**|_2021_| ||**£**|_£_|**£**|_£_| |Operating lease rentals|**64,542**|_64,521_|**64,542**|_64,521_| |Changes in lease payments arising from||||| |COVID-19 related rent concessions|**-**|_-_|**-**|_-_| ## **27. Members' liability** Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member. ## **28. Related party transactions** Global Poverty Project Inc. (GPP USA), a company incorporated in the USA, is a sole member of Global Poverty Project UK (the charity). During the year the Group received a total income of £2.15m (Global Poverty Project UK £1.59m Global Citizen Deutschland £559k) (2021 £2.05m). At the year end, the balance owed to the charity was £317k. The Europe office benefited from grant funding from the Bill and Melinda Gates Foundation, which is also the employer of trustee Joe Cerrell. For this funding the UK office was the sub award holder and the amount is included in the grant received from Global Poverty Project Inc mentioned above. Page 50 **GLOBAL POVERTY PROJECT UK (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **29. Ultimate parent undertaking and controlling party** The charity is under control of its sole corporate member Global Poverty Project Inc, USA (GPP, Inc) which is the charity's immediate and ultimate parent company, a company incorporated in the USA. GPP Inc. is a sole member of the charity which gives it the right to appoint and remove the charity's trustees. The charity's accounts are consolidated into GPP, Inc. accounts. The consolidated accounts of GPP, Inc. are available from 594 Broadway, Suite 207 New York, NY 10012 USA. ## **30. Principal subsidiaries** The following was a subsidiary undertaking of the Company: |**Name**|||**Company**|**Registered office or principal**|**Registered office or principal**|**Registered office or principal**|**Principal activity**|**Principal activity**| |---|---|---|---|---|---|---|---|---| ||||**number**|**place of business**||||| |Global Citizen Deutschland|||R003229|Ackerstraße 29, 10115||Berlin|Charity|| |gGmbH||||||||| |**Class of**|**Holding**|**Included in**||||||| |**shares**||**consolidation**||||||| |Ordinary|100% Yes|||||||| |The financial|results of the subsidiary for the|||year were:||||| |**Name**||||**Income**|**Expenditure**|**Profit/(Loss)**||**Net assets**| |||||**£**|**£**|**/ Surplus/**||**£**| |||||||**(Deficit) for**||| |||||||**the year**||| ||||||||**£**|| |Global Citizen Deutschland gGmbH||||**474,757**|**480,893**||**(6,136)**|**16,035**| The financial results of the subsidiary for the year were: Page 51