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← Global Impact UK

2024-06-30-accounts

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Global Impact UK CIO

Annual Report and Accounts

Year ended 30 June 2024

Charity Registration Number 1168461

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Contents

Reports

Reports
Reference and administration details of
the charity, its trustees and advisers 1
Report of the trustees 2
Independent auditor’s report 8
Accounts
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Principal accounting policies 16
Notes to the accounts 18

Global Impact UK CIO

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Reference and administration details of the charity, its trustees and advisers

Trustees Fatima Iqbal (Chair)
Sara Cerrell (Vice Chair)
Michael Eggers
Jeni Elam
Scott Jackson
Principal Address Buzzacott Audit LLP
130 Wood Street
London
EC2V 6DL
Telephone +44 7751 141 559
e-mail info@globalimpact.org.uk
Charity Registration Number 1168461
Auditors Buzzacott Audit LLP
130 Wood Street
London
EC2V 6DL
Bankers MetroBank
120 Cheapside
London
EC2V 7JB
Principal Solicitors Bates Wells
10 Queen Street Place
London
EC4R 1BE

Global Impact UK CIO 1

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Report of the trustees Year to 30 June 2024

The trustees present their report together with the accounts of Global Impact UK CIO (the “charity”) for the year to 30 June 2024. The report has been prepared in accordance with Part 8 of the Charities Act 2011.

The accounts have been prepared in accordance with the accounting policies set out on pages 166 and 177 and comply with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The principles set out in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), effective from accounting periods commencing 1 January 2015 or later, have been followed in the preparation of this report and accounts.

Introduction

Global Impact UK CIO is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission and governed by a constitution dated 27 July 2016.

Principal activities, objectives and aims

Global Impact UK's primary purpose is to build partnerships and resources for the world’s most vulnerable people. The organisation provides effective structures and strategies to leverage global philanthropy and helps UK charities and donors support causes and communities, and address crises, throughout the world.

Global Impact UK has a twofold strategic intent: Firstly, to develop tax-advantaged charitable giving within the UK and provide resources to international and local charities. Secondarily, to support and build capacity for private sector and non-profit organisations based in the UK in order to grow their philanthropy and increase their effectiveness.

Global Impact UK is uniquely positioned to serve its intended purpose, to help members of the public and their employers support the work of their favourite charities, and to equip private sector and non-profit organisations with the tools and services they need to achieve their philanthropic goals.

When setting the above objectives, the charity has taken into consideration the Charity Commission’s guidance on public benefit.

Governance, structure and management

Governance

Trustees are selected to steer the organisation towards a sustainable future by adopting sound, ethical and legal governance, and financial management policies, as well as making sure that Global Impact UK has adequate resources to advance its mission.

Trustees are recruited for their specialist skills, knowledge and experience, professional standing and network, and interest in and commitment to the mission of the organisation and its work and are appointed to three-year terms. All new Trustees are provided with a copy of the current version of the constitution and the latest Trustees’ Annual Report and statement of accounts and oriented to the expectations of the role and the ways in which Trustees can best engage in order to ensure organisational success.

Global Impact UK CIO 2

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Report of the trustees Year to 30 June 2024

Governance, structure and management (continued)

Governance (continued)

The role of trustees is to:

To fulfil their role, trustees support Global Impact UK to:

Global Impact UK CIO 3

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Report of the trustees Year to 30 June 2024

Governance, structure and management (continued)

Governance (continued)

Global Impact UK is guided by a series of best practices including, but not limited to, the adoption of a business plan, filing an annual report and accounts, conducting an audit or independent examination, maintaining six years of accounting records, and tracking details of substantial donors in accordance with HMRC guidance. Additionally, the organisation is committed to public financial transparency and makes documentation available to the public, including the annual report and accounts.

Trustees’ responsibilities statement

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Structure and management reporting

The trustees are ultimately responsible for the policies, activities and assets of the charity. They meet regularly to review developments with regard to the charity or its activities and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers including investment managers, solicitors and accountants.

Global Impact UK CIO 4

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Report of the trustees Year to 30 June 2024

Governance, structure and management (continued)

Key management personnel

The trustees consider that they comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. The trustees are supported by staff from Global Impact UK’s sister organisation, Global Impact, who provide back office operational support.

The trustees receive no remuneration in respect of their duties.

Risk management

The trustees undertake an annual review of the principal risks and uncertainties that the charity faces categorizing the risks between those affecting the governance and management of the charity, operational risks, financial risks, reputational risks and those which occur because of circumstances outside of the charity's control such as changes in government policy, laws and regulations. They regularly review the measures already in place, or needing to be put in place, to establish policies, systems and procedures to mitigate those risks identified in the annual review and ensure that action is taken to implement changes to those policies, systems and procedures should they be needed to minimize or manage any potential impact on the charity should those risks materialize.

Having assessed the major risks to which the charity is exposed, the trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks. Key risks for the charity, as identified by the trustees, will continue to be considered and mitigated on an ongoing basis moving forward.

Activities and performance

The charity extended its activities in the period ended 30 June 2024 in alignment with its business plan and operationalization objectives. Global Impact UK has continued to refine the administrative and operational processes of the organization this year as well as continued to make expanding its portfolio of Clients a main intention. Focusing on providing charitable services to charitable organisations that wish to engage the charity as a Sponsor has become an area of emphasis. As a Sponsor, Global Impact UK serves as the charitable organisation’s fiscal agent and receives, administers, and disburses charitable contributions from third party donors made for the purpose of carrying out projects of the Client. Global Impact UK also creates online donation links for Clients to add to their webpage(s) to facilitate receiving of donations from donors.

Global Impact UK has had the privilege to continue to support our charity partners as they respond to the world’s most pressing challenges, and we continue to adapt to meet the needs of the charitable sector.

While the charity has seen a slight increase in revenue in the most recent fiscal year, we anticipate a steady increase in the coming fiscal year. We have increased support for our charitable work with the Global Change Network based in the United Kingdom to support us as needed.

Global Impact UK CIO 5

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Report of the trustees Year to 30 June 2024

Activities and performance (continued)

In support of these efforts, Global Impact UK has payroll for two of Global Impact US’s fiscal sponsor clients. The increase revenue in managing these employees will assist in onboarding UK charitable organisations that wish to become fiscal agents of Global Impact UK. The knowledge and experience Global Impact UK is gaining in this area will only further our efforts to engage new clients in the coming years.

Furthermore, Global Impact UK is continuing to review our Board of Trustees recruitment process and is committed to diversifying membership to best reflect the charitable sector and the causes we represent. Global Impact UK works closely with the Global Impact US Board of Trustees to identify potential Trustees to support its vision, mission, and charitable purpose.

Financial review

Results for the period

During the year ended year to 30 June 2024, the charity generated total income of £1,098,102 (2023 - £687,991) from fiscal sponsorship agreements, and total expenditure amounted to £1,219,882 (2023 - £924,285). After exchange rate losses of £442 (2023 – gains of £20,406), the unrestricted funds totaled negative £195,748 (2023 – negative £206,393) at 30 June 2024.

Reserves policy

The charity’s balance sheet as at 30 June 2024 showed negative unrestricted reserves of £195,748. These arise as a result of liabilities due to the charity’s affiliated entity Global Impact US. The charity is supported financially by Global Impact US, which has pledged not to request payment of the liabilities until the charity has sufficient funds to meet them. The future goal of the organisation is to have reserves. Progress towards this target will be reviewed and monitored annually.

Restricted Reserves at 30 June 2024 amounted to £55,395 (2023 – 188,262). For more details please see note 9 of the financial statements.

Future plans

As we look ahead, Global Impact UK’s strategic priorities include:

Global Impact UK CIO 6

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Report of the trustees Year to 30 June 2024

Future plans (continued)

In order to achieve these strategic priorities, over the next 12-18-months, Global Impact UK will continue to establish itself as an intermediary to ensure that vulnerable populations receive access to resources through partnerships, fundraising and advisory services. The organisation will bring a unique blend of experience and philanthropic skill to the market, but will establish itself as an independent, separately run non-profit. To be successful, the Global

Impact UK team, under guidance of the Trustees, will:

Signed on behalf of the trustees

Trustee

Approved by the trustees on: April 23, 2025

Global Impact UK CIO 7

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Independent auditor’s report Year to 30 June 2024

Independent auditor’s report to the trustees of Global Impact UK CIO

Opinion

We have audited the accounts of Global Impact UK CIO (the ‘charity’) for the year ended 30 June 2024 which comprise the statement of financial activities, the balance sheet, the statements of cash flows principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Global Impact UK CIO 8

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Independent auditor’s report Year to 30 June 2024

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Global Impact UK CIO 9

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Independent auditor’s report Year to 30 June 2024

Auditor’s responsibilities for the audit of the accounts

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report

that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Global Impact UK CIO 10

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Independent auditor’s report Year to 30 June 2024

Auditor’s responsibilities for the audit of the accounts (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Global Impact UK CIO 11

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Independent auditor’s report Year to 30 June 2024

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Edward Finch

Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL

Date 4/25/2025

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Global Impact UK CIO 12

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Statement of financial activities 30 June 2024

Notes Restricted
funds
£


Unrestricted
funds
£

Total
2024
£		 Total
2023
£
Income
Charitable activities
1
Expenditure
Charitable activities
2
Total expenditure
Net income (expenditure) before
transfers
Transfers between funds
Other (losses) gains due to foreign
exchange
Net movement in funds
Reconciliation of funds
Total funds brought forward at 1 July 2023
Total funds carried forward at 30 June 2024		 1,019,888
(1,149,695)
78,214
(70,187)		 1,098,102
(1,219,882)		 687,991
(924,285)
(1,149,695) (70,187) (1,219,882) (924,285)
(129,807)
(3,060)
—
8,027

3,060

(442)
(121,780)

—

(442)		 (236,294)
—
20,406
(132,867)
188,262
10,645

(206,393)
(122,222)
(18,131)		 (215,888)
197,757
55,395
(195,748)		 (140,353) (18,131)

All of the charity’s activities derived from continuing operations during the above financial period.

Global Impact UK CIO 13

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Balance sheet 30 June 2024

2024 2024 2023 2023
Notes £ £ £ £
Current assets
Debtors 5 118,342 65,802
Cash at bank 72,991 215,882
191,333 281,684
Liabilities
Creditors: amounts falling due
within one year 6 (331,686) (299,815)
Net current assets (liabilities) (140,353) (18,131)
Total net assets (liabilities) (140,353) (18,131)
Represented by:
Unrestricted funds (195,748) (206,393)
Restricted funds 55,395 188,262
Total funds (140,353) (18,131)

Approved by the trustees and signed on their behalf by:

Scott Jackson, Secretary/Treasurer

Trustee Approved on: April 23, 2024

Global Impact UK CIO 14

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Statement of cash flows 30 June 2024

Notes
2024
£		 2023
£
Cash flows from operating activities:
Net cash (used in) provided by operating activities
A
Increase (Decrease) in cash and cash equivalents in the
year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of theyear
B
(142,891)		 (288,445)
(142,891)
215,882		 (288,445)
504,327

72,991		 215,882

Notes to the statement of cash flows for the year to 30 June 2024.

A Reconciliation of net movement in funds to net cash used in operating activities

2024
£		 2023
£
Net movement in funds (as per the statement of financial activities)
Adjustments for:
(Increase) Decrease in debtors
Increase / (Decrease) in creditors
Net cashprovided by operating activities		 (122,222)
(52,540)
31,871		 (215,888)
(55,323)
(17,234)
(142,891) (288,445)

B Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
2024
£		 2023
£
Cash at bank and in hand
Total cash and cash equivalents		 72,991 215,882
72,991 215,882

C Analysis of changes in net debt

Analysis of changes in net debt
At 1 July
2023
£
Cash flows
£		 At 30 June
2024
£
Cash at bank and in hand
Total cash and cash equivalents		 215,882 (142,891) 72,991
215,882 (142,891) 72,991

Global Impact UK CIO 15

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Principal accounting policies 30 June 2024

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the period from 1 July 2023 to 30 June 2024.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts. The accounts are presented in sterling and are rounded to the nearest pound.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP (FRS 102) 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

As at 30 June 2024, the charity’s balance sheet showed negative net assets of £195,748 (2023 – negative assets of £206,393) in unrestricted funds. These arise solely as a result of liabilities due to Global Impact US and represent the investment provided by Global Impact US for the setup of Global Impact UK. The charity is supported financially by Global Impact US, which has pledged not to request payment of the liabilities until the charity has sufficient funds to meet them.

The trustees of the charity have therefore concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Critical accounting estimates and areas of judgement

Other than the assessment of going concern, the preparation of the accounts did not require the trustees to make any significant judgements or estimates.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income comprises donations, as well as the fees charged by the charity for the services it provides as a donor-advised fund.

Global Impact UK CIO 16

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Principal accounting policies 30 June 2024

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment 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.

Support Costs

Support costs comprise costs incurred in relation to supporting the activities of the charity (including audit costs), and ensuring that they comply with relevant legal and regulatory requirements. These costs have been allocated in proportion to the direct costs attributable to each activity.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Creditors

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund accounting

The unrestricted funds represent funds available for the general charitable purposes of the charity at the discretion of the trustees. These funds are raised through the fiscal sponsorship administration and management fees paid directly to Global Impact UK.

The restricted funds are monies donated to be redistributed to a specific organisation, thus their use is limited to the purposes intended by the donor.

Global Impact UK CIO 17

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Notes to the accounts 30 June 2024

1 Income from charitable activities

Income from charitable activities
Restricted
funds
£		 Unrestricted
funds
£		 2024
Total
funds
£



2023
Total
funds
£
Contributions from third party donors
Global Impact US contract
Fiscal sponsor management fee
Gift aid receivable
Interest income
Fee of services
Other income
2024 Total Funds
23,097

648,440

(1,637)
1,090

2,303

8,284

6,414
10,205 — 10,205
1,009,683 45,558 1,055,241
— 15,000 15,000
— — —
— 1 1
— 13,558 13,558
— 4,097 4,097
1,019,888 78,214 1,098,102
687,991
Contributions from third party donors
Global Impact US contract
Fiscal sponsor management fee
Gift aid receivable
Interest income
Fee of services
Other income
2023 Total Funds		 Restricted
funds
£		 Unrestricted
funds
£		 2023
Total
funds
£
23,097 — 23,097
636,398 12,042 648,440
— (1,637) (1,637)
1,090 — 1,090
— 2,303 2,303
— 8,284 8,284
3,033 3,381 6,414
663,618 24,373 687,991

2 Expenditure on charitable activities

Direct Costs
£

Allocated
Support
Costs
£		 2024
Total
funds
£



2023
Total
funds
£
Fiscal Sponsorship
Grants to Kilimanjaro Trust
FCDO Project (Global Impact US
contract)
Salaries
Other
141,933
9,459		 151,392
277,163
955,320
—		 955,320
597,143
52,058
61,112		 113,170
49,979
1,149,311
70,571		 1,219,882
924,285

Global Impact UK CIO 18

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Notes to the accounts 30 June 2024

2 Expenditure on charitable activities (continued)

Expenditure on charitable activities(continu ed)
Direct Costs
£

Allocated
Support Costs
£		 2023
Total
funds
£
Fiscal Sponsorship
Grants to Kilimanjaro Trust
FCDO Project (Global Impact US contract)
Salaries
Other
272,149
5,014		 277,163
597,143
—		 597,143
39,257
10,722		 49,979
908,549
15,736		 924,285

Analysis of Support Costs

Fees payable to Auditor:
. Audit
. Other
Legal and Professional Fees
Other		 2024
£		 2023
£
13,150 —
6,675 6,075
2,759 —
47,987 9,661
70,571 15,736

In the year to 30 June 2024 £384 (2023: £429) of the allocated support costs were restricted. All other support costs were unrestricted.

3 Staff costs and remuneration of trustees and key management personnel

Staff costs and remuneration of trustees and key management personnel
2024
Total
£


2023
Total
£
Salaries and wages
Social security costs
Pension costs
504,024

60,679

32,440
811,585
91,936
51,799
955,320
597,143

The number of employees who earned more than £60,000 during the year were as follows:

2024 2023
No. No.
£60,001 - £70,000 3 1
£70,001 - £80,000 1 2
£80,001 - £90,000 1 1
£90,001 - £100,000 1 —
£100,001 - £110,000 1 —

Global Impact UK CIO 19

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Notes to the accounts 30 June 2024

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. The trustees receive no remuneration or reimbursement of expenses in connection with their duties.

4 Taxation

Global Impact UK CIO is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

5 Debtors

Debtors
2024
£

2023
£
Accounts receivable
Accrued income
Prepayments
61,627

1,090

3,085
114,002
925
3,415
118,342
65,802

6 Creditors due in less than one year

Creditors due in less than one year
2024
£

2023
£
Amounts due to Global Impact US
Trade creditors
Accruals
Pension creditor
291,022

3,665

650

4,478
277,901
31,716
14,559
7,510
331,686
299,815

7 Related party transactions

Global Impact US is considered a related party of the charity by virtue of a common trustee (Scott Jackson) and common management.

A total of £277,901 (2023 – £291,022) was owed by the charity to Global Impact US at the balance sheet date.

Global Impact US is the fiscal sponsor of OpenOwnership, which is working on a project funded by the UK Foreign Commonwealth and Development Office (FCDO). GIUK has been contracted out by Global Impact US to work on this project. Global Impact pays for the staff costs and other related office costs incurred by GIUK in relation to this project. During 2023/24, total income received under this arrangement was £1,055,241 (2023 - £648,440).

Global Impact UK CIO 20

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Notes to the accounts 30 June 2024

8 Analysis of net assets between funds

Analysis of net assets between funds Analysis of net assets between funds Analysis of net assets between funds
Restricted
funds
£		 Unrestricted
funds
£		 2024
Total
funds
£
118,342
72,991
(331,686)
(140,353)
2023
Total
funds
£
65,802
215,882
(299,815)
(18,131)




Balance at
30 June 2024
£
43,426
2,383
-
1
1,006
8,579
55,395
(195,748)
(140,353)
Fund balances at 31 June 2024 are represented by:
Debtors: amounts falling due within one year
Cash at bank and short term deposits
Creditors: amounts falling due within one year
110,915 7,427
(46,131) 119,122
(9,389) (322,297)
55,395 (195,748)
Restricted
funds
£		 Unrestricted
funds
£
Fund balances at 31 June 2023 are represented
Debtors: amounts falling due within one year
Cash at bank and short term deposits
Creditors: amounts falling due within one year		 by:
60,256 5,546
133,694 82,188
(5,688) (294,127)
188,262 (206,393)
Movement in funds Balance at 30
June 2023
£
Income
£		 Expenditure
£		 Gains &
losses
(exchange
rates) and
transfers
£
Restricted funds (fiscal
sponsorships):
. Gates Philanthropy
. Kilimanjaro Blind Trust
. Entertainment Industry fund
. Ngir Gambia
. BrightFund
Open Ownership
Total restricted
Unrestricted funds
Total funds
36,575 9,199 (180) (2,168)
145,499 - (141,880) (1,236)
(344) - - 344
258 - (257) -
- 1,006 - -
6,274 1,009,683 (1,007,378) -
188,262 1,019,888 (1,149,695) (3,060)
(206,393) 78,214 (70,187) 2,618
(18,131) 1,098,102 (1,219,882) (442)

9 Movement in funds

Gates Philanthropy Partners (GPP) works to reduce inequities by supporting access to healthcare, education, and economic mobility.

Kilimanjaro Blind Trust Africa (KBTA) ensures that every student with a vision impairment advances in education through access to a functioning braille machines, adequate supply of braille paper, and appropriate assistive technology.

Global Impact UK CIO 21

Docusign Envelope ID: DF08283E-D3F8-4638-9D89-F44718FD782D

Notes to the accounts 30 June 2024

9 Movement in funds

Entertainment Industry Foundation (EIF) mobilizes and leverages the powerful voice and creative talents of the entertainment industry, as well as cultivates the support of public and private organizations and philanthropists committed to social responsibility, in order to build awareness and raise funds, and develop and enhance programs on the local, national, and global level that facilitate positive social change.

Open Ownership (OO) helps countries generate high quality data on company ownership that complies with international standards and meets the needs of data users across government, civil society, and the private sector and supports people and organisations to use this data to build trust as well as reducing corruption and tax evasion.

10 Post balance sheet events

There were no events which occurred after the balance sheet date which could materially affect the accounts.

Global Impact UK CIO 22