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 2024
CROSSROADS GLOBAL VILLAGE (UK) LIMITED (a Company Limited by Guarantee)
COMPANY INFORMATION
Trustees Mrs Laura Davis Mr Kevin Dillon Mrs Kim Elwell-Sutton Mr William Hampson Dr Natalya Hanley Mr Richard Payne Secretary Mr William Hampson Company number 06003594 Registered office 124 Capital Office City Road, London England EC1V 2NX Business address 1 Cedar Walk Carfin Motherwell ML1 5GZ. 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 2024
The trustees present their report and financial statements for the year ended 31 December 2024.
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 held office:
Mrs Laura Davis Mr Kevin Dillon (appointed 1 October 2024) Ms Kim Elwell-Sutton (appointed 14 February 2025) Mr William Hampson Dr Natalya Hanley Mr Finlay Mackenzie (resigned 10 August 2023) Mr Richard Payne Mr David Short (resigned 26 July 2024)
Trustees are appointed in accordance with Company’s Articles of Association.
Trustee’s interests
No trustee held shares in the company at 31 December 2024 or at 31 December 2023.
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 2024
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select suitable accounting policies and then apply them consistently;
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make judgements and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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:
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The obligations of Trustees.
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The main documents which set out the operational framework for the charity including the Memorandum and Articles.
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Resourcing and current financial position as set out in the latest published accounts.
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Future plans and objectives.
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 2024 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.
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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Results and Appropriations
The financial results and state of affairs including reserve positions of the company for the year ended 31 December 2024 are set out in the financial statements on pages 5 to 9.
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
Mr William Hampson Trustee
Date 11 / 04 / 2025
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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report on the financial statement of the charity for the year ended 31[st] December 2024, 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:
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Examine the accounts under section 145 of the Charities Act
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To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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To state whether particular matters have come to my attention
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
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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
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met: or
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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 04 / 04 / 2025
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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Turnover | 10 | 33,681 | 28,544 |
| Administrative expenses | 12 | (34,448) | (25,170) |
| Other operating expenses | - | - | |
| __ | __ | ||
| Surplus/(deficit) for year | 4, 8 | (767) | 3,374 |
| ======== | ======== |
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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ |
£ | £ |
|
| Current assets | |||||
| Debtors | 2 | 1,603 | 5,382 | ||
| Cash at bank and in hand | 6,400 | 3,304 | |||
| ______ | ______ | ||||
| Total current assets | 8,003 | 8,686 | |||
| Creditors: amounts falling due | within | ||||
| one year | 3 | (1,818) | (1,734) | ||
| ______ | ______ | ||||
| Net current assets | 6,185 | 6,952 | |||
| ______ | ______ | ||||
| Total assets less liabilities | 6,185 | 6,952 | |||
| ====== | ====== | ||||
| Accumulated funds | 8 | ||||
| Total accumulated funds b/f | 6,952 | 3,578 | |||
| Surplus/(Deficit) for year | (767) | 3,374 | |||
| _ | _ | ||||
| Total Funds c/f | 6,185 | 6,952 | |||
| ======= | ======= |
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 11 / 04 / 2025
Mr William Hampson Trustee
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 2024
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 | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Amounts owed by group undertakings and undertakings | ||
| in which the company has a participating interest | - | 3,677 |
| Other debtors | 1,603 | 1,705 |
| ______ | _____ | |
| Total Debtors | 1,603 | 5,382 |
| ====== | ===== | |
| 3. Creditors: amounts falling due within one year | 2024 | 2023 |
| £ | £ | |
| Amounts owed to group undertakings and undertakings | ||
| in which the company has a participating interest | 825 | - |
| Accrued employee benefits | 893 | 1,634 |
| Other creditors | 100 | 100 |
| ______ | _____ | |
| Total Creditors | 1,818 | 1,734 |
| ====== | ===== |
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 2024 the Company recognised claims with HMRC for reimbursement under the GiftAid Scheme on donations received during the 2024 reporting period that are eligible for GiftAid. Under this scheme donations received in 2024 have a gross value of £6,414 (2023 £ 6,820 ).
The company therefore provided to receive in 2025 GiftAid to the value of £1,603 (2024 £ 1,705 )
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CROSSROADS GLOBAL VILLAGE (UK) LIMITED (Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024 and 2023 financial years, with a second engaged for September through October on a transitional arrangement then retained through the year end. These persons were paid a salary on a part-time basis under employment agreements.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Total employee benefits paid or provided for | ||
| during the period | 24,854 | 15,976 |
Other persons in both years were engaged either on a full volunteer basis or under a service agreement.
8. Accumulated Funds
| ulated Funds | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accumulated funds as at 1 January | 6,952 | 3,578 |
| Surplus/(deficit) for year | (767) | 3,374 |
| ______ | ______ | |
| Accumulated funds at 31 December | 6,185 | 6,952 |
| ====== | ====== | |
| of which the following funds are: | ||
| Restricted funds | - | - |
| Designated fixed asset funds | - | - |
| Unrestricted funds | 6,185 | 6,952 |
| ______ | ______ | |
| Total accumulated funds | 6,185 | 6,952 |
| ====== | ====== |
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. | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| 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 2024
10. Breakdown of Annual Turnover
| down of Annual Turnover | |||
|---|---|---|---|
| Notes | 2024 | 2023 | |
| £ | £ | ||
| Related Party Grant & Expenses | 11 | 24,970 | 16,339 |
| on behalf of entity | |||
| Donations | 7,079 | 9,831 | |
| GiftAid UK Scheme | 1,479 | 1,705 | |
| Trading & Services Revenues | 153 | 669 | |
| ______ | ______ | ||
| Total Turnover for the year to 31 | December | 33,681 | 28,544 |
| ====== | ====== |
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
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Related party donations and grants | 24,970 | 16,339 | |
| CGV(UK) from time to time provides funds to CFL for defined projects. | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Support Grant for a defined projects undertaken by CFL | 5,682 |
6,086 | |
| 12. Breakdown of Administrative Expenses | |||
| Notes | 2024 | 2023 | |
| £ | £ | ||
| Inter-company grant | 11 | 5,682 | 6,086 |
| Governance & Independent Assessor | 100 | 100 | |
| Employee Salary & relate benefits | 7 | 24,854 | 15,976 |
| Travel expenses | 1,371 | 1,388 | |
| Trading expenses | 168 | - | |
| Office expenses | 2,273 | 1,620 | |
| ______ | ______ | ||
| Administrative expenses for the year | 34,448 | 25,170 | |
| ====== | ====== |
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