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← Crossroads Global Village (UK)

2023-12-31-accounts

Company Registration No. 06003594 (England and Wales) Charities Registration No. 1153488 (England and Wales)

CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

CROSSROADS GLOBAL VILLAGE (UK) LIMITED (a Company Limited by Guarantee)

COMPANY INFORMATION

Trustees Miss Laura Brooks
Dr Natalya Hanley
Mr William Hampson
Mr Finlay Mackenzie
Mr Richard Payne
Mr David Short
Secretary Mr William Hampson
Company number 06003594
Registered office Kemp House, 152-160 City Road,
London
England
EC1V 2NX
Business address St David’s Park Road South
Newton-Le-Willows
Merseyside
England
WA12 8EY
Independent Examiner Dick Beath
58a Combe Road,
Combe Down,
Bath
BA2 5HZ

CROSSROADS GLOBAL VILLAGE (UK) LIMITED (a Company Limited by Guarantee)

CONTENTS

Page
Trustees’ report 1 – 3
Independent examiner’s report 4
Statement of Financial Performance 5
Statement of Financial Position 6
Notes to the Financial Statements 7 – 8

CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report and financial statements for the year ended 31 December 2023.

General Information

The company is incorporated as a Company Limited by Guarantee, and operates as a not-forprofit entity for charitable purposes. The company is a registered charity in England and Wales, registration no. 1153488.

Principal activities

The principal activity of the company continued to be linking for-profit and non-profit organisations to combat global need. Crossroads Global Village (UK) Limited provides a matching service: a non-profit brokerage facilitating public/private partnership. Crossroads Global Village (UK) Limited helps match for-profit organisations, non-profit organisations, foundations, trusts, governments, diplomats and more.

Other activities undertaken include trading Global Handicraft fairly traded goods purchased from around the world and made available for sale in the United Kingdom; and providing Global X-perience programmes where people can experience global need first hand.

All costs incurred are in the course of providing charitable work. The principal operating costs are salary incurred by a full-time employee of Crossroads Global Village (UK) Limited.

Trustees

The following trustees have held office since 1 January 2022: Miss Laura Brooks Mr William Hampson Mr Finlay Mackenzie Mr David Short

The following trustees were appointed on 30 June 2022 Dr Natalya Hanley Mr Richard Payne

Trustees are appointed in accordance with Company’s Articles of Association.

Trustee’s interests

No trustee held shares in the company at 31 December 2023 or at 31 December 2022.

Statement of trustees' responsibilities

The trustees are responsible for preparing the trustees' Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the trustees are required to:

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Training and Induction of Trustees,

New trustees are provided with short training sessions to ensure familiarity with the charity and the context within which it operates. These are led by the Chair of the Trustees Committee and cover:

Trustees are required to familiarise themselves with the Charity Commission publications signposted through the Commission’s guide “the Essential Trustee”. This guide is distributed to all new trustees along with the Memorandum and Articles and the latest financial statements.

Risk Management

Trustees regularly identify and review major risks the charity is exposed to. As appropriate, systems or procedures have been established to mitigate the risk.

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors in activities undertaken.

Employees

The Charity has engaged an employee to undertake management and activities under the supervision of the Trustees, refer note 7. Hence, there are provisions for staff salary, leave, pensions, and insurance, and employee engagement policies in place.

Audit Exemption Statement

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

Results and Appropriations

The financial results and state of affairs including reserve positions of the company for the year ended 31 December 2023 are set out in the financial statements on pages 5 to 9.

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Independent Examiner

Dick Beath was appointed as an independent examiner of the accounts.

Statement of disclosure to independent examiner

So far as the Trustees are aware, there is no relevant information of which the company's independent examiner is unaware. Additionally, the Trustees have taken all the necessary steps that they ought to have taken as Trustees in order to make themselves aware of all relevant information and to establish that the company's independent examiner is aware of that information.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

Date 7th_ / Aug_ / 2024

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

Independent Examiner’s Report to the Trustees of CGV

I report on the financial statement of the charity for the year ended 31[st] December 2023, which are set out on the following pages.

Respective responsibilities of Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

    • to keep accounting records in accordance with section 130 of the Charities Act: and

  2. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

  3. have not been met: or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

Richard HW Beath BSc FCCA Ashlar House 58a Combe Road, Combe Down, Bath BA2 5HZ

Date 17 / 03 / 2024

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

STATEMENT OF FINANCIAL PERFORMANCE

FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £ £
Turnover 10 28,544 38,779
Administrative expenses 12 (25,170) (33,498)
Other operating expenses - (18,956)
__ __
Surplus/(deficit) for year 4, 8 3,374 (13,675)
======== ========

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2023

2023 2022
Notes £
£		 £
£
Current assets
Debtors 2 5,382 1,496
Cash at bank and in hand 3,304 8,204
______ ______
Total current assets 8,686 9,700
Creditors: amounts falling due within
one year 3 (1,734) (6,122)
______ ______
Net current assets 6,952 3,578
______ ______
Total assets less liabilities 6,952 3,578
====== ======
Accumulated funds 8
Total accumulated funds b/f 3,578 17,253
Surplus/(Deficit) for year 3,374 (13,675)
_ _
Total Funds c/f 6,952 3,578
======= =======

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board for issue on 7th / Aug / 2024

Company Registration No. 06003594

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

1.1 Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2 Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3 Turnover

Turnover represents amounts receivable by way of donations, grants and sales of handicrafts.

1.4 Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2. Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings
in which the company has a participating interest 3,677 -
Other debtors 1,705 1,496
______ _____
Total Debtors 5,382 1,496
====== =====
3. Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings
in which the company has a participating interest - 3,463
Accrued employee benefits 1,634 2,559
Other creditors 100 100
______ _____
Total Creditors 1,734 6,122
====== =====

4. Tax on profit/(loss) on ordinary activities

The Company is registered with the HM Revenue & Customs as a Charity and is exempt from Corporations and Income Tax and eligible for tax repayment under Gift Aid.

5. Claim on GiftAid Scheme with HMRC

In 2023 the Company recognised claims with HMRC for reimbursement under the GiftAid Scheme on donations received during the 2023 reporting period that are eligible for GiftAid. Under this scheme donations received in 2023 have a gross value of £6,820 (2022 £5,984).

The company therefore provided to receive in 2024 GiftAid to the value of £1,705 (2022 £1,496)

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

6. Trustee Benefits

Trustees undertake their responsibilities on a fully honorary basis and as such receive no benefits or remuneration for these services.

7. Employee Benefits

The Trust engaged one staff member in 2023 and 2022 financial years. This person was paid a salary on a full-time basis under the employment agreement.

2023 2022
£ £
Total employee benefits paid or provided for
during the period 15,976 18,812

Other persons in both were engaged either on a full volunteer basis or under a service agreement.

8. Accumulated Funds

ulated Funds
2023 2022
£ £
Accumulated funds as at 1 January 3,578 17,253
Surplus/(deficit) for year 3,374 (13,675)
______ ______
Accumulated funds at 31 December 6,952 3,578
====== ======
of which the following funds are:
Restricted funds - -
Designated fixed asset funds - -
Unrestricted funds 6,952 3,578
______ ______
Total accumulated funds 6,952 3,578
====== ======

9. Independent Examiner Fees

The independent examiner received the fees below for the examination. He received no other payment or provided any other services.

r provided any other services.
2023 2022
£ £
Audit & independent examiner fees 100 100

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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

10. Breakdown of Annual Turnover

down of Annual Turnover
Notes 2023 2022
£ £
Related Party Grant & Expenses 11 16,339 10,729
on behalf of entity
Donations 9,831 26,554
GiftAid UK Scheme 1,705 1,496
Trading & Services Revenues 669 -
______ ______
Total Turnover for the year to 31 December 28,544 38,779
====== ======

11. Related Party Information

Crossroads Global Village (UK) Limited (CGV(UK)) is a wholly owned subsidiary of Crossroads Foundation Limited (CFL) which is registered in Hong Kong where it is a registered charity. The entity among other activity provides service and support to CFL activity in the United Kingdom, in Europe and Africa with respect for instance in maintaining ties with World Economic Forum and the United Nations.

CFL provides regular grant payments to support ongoing CGV(UK) activity

2023 2022
£ £
Related party donations and grants 16,339 10,729
CGV(UK) from time to time provides funds to CFL for defined projects.
2023 2022
£ £
Support Grant for a defined projects undertaken by CFL
6,086		 6,341
12. Breakdown of Administrative Expenses
Notes 2023 2022
£ £
Inter-company grant 11 6,086 6,341
Governance & Independent Assessor 100 100
Employee Salary & relate benefits 7 15,976 18,812
Travel expenses 1,388 1,302
Professional & accounting services - 5,814
Office expenses 1,620 1,129
______ ______
Administrative expenses for the year 25,170 33,498
====== ======

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