Charity number: 1168872 LINKS INTERNATIONAL TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LINKS INTERNATIONAL CONTENTS Page Reference and admlnistrative details of the Charity, its Trustees and advisers Trustees, roport 2-12 Independent auditors. report on the financlal statements 13-16 Statement of financial activities 17 Balance sheet 18 ststemont of cash flows 19 Notes to the financial statements 20-34
LINKS INTERNATIONAL REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees P Moore, Chair G Jones, Treasurer A King D Kirt)y B Ansell B Gisbey E Gladwell Charity registered number 1168872 Principal office POBox198 Littlehampton West Sussex BN16 3UQ Chlef executive officer J Gisbey Indepondent auditors Baldwin Scofield Ltd Chartered Accountsnts Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU Bankers Lloyds Bank plc 1 Silver Street Enfield EN13EE Solicitors Swaby, Clerk and Norris 16-21 Wakering Road Barking Essex IG118QN Page 1
LINKS INTERNATIONAL TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the audited financial statements of the Links International for the year 1 January 2024 to 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland (FRS 102) (effective 1 January 2022). Objectives and activities Policies and objectives The charitable objects of the charity are: (1) (2) (3) (4) To advance the Christian faith., To relieve persons who are in conditions of need, financial hardship or sickness- To advan education" To promote sustainable development by: (a) the relief of poverty and the improvement of the conditions of life in socially and disadvantaged communities" and (b) the promotion of sustainable means of achieving economic growth and regeneration. In setting objectives and planning for activities, the Trustees have given due consideration to general guidan published by the Charity Commission relating to public benefit, including the guidan 'Public benefit.. running a charity (PB2)'. • Strategles for achieving objectives Links, vision is to connect people. confront povety and create potential. We do this by working together with key nationals and partners around the world. focusing on the five areas of Faith" Health., Business,. Education; and Justice. Falth Our Christian belief is the foundation of our mission, inspiring all aspects of our work. We view intemational development as a natural expression of the Gospel-the restoration of all things through the completed work of Christ. This convickn'on shapes our commitment to church partnerships, the planting of new faith communities, and the equipping and raising up of leaders around the world. Through these efforts, we aim to bring spiritual and practical transformation to individuals and communities alike. Health Links Community Healthcare (CHC) continues to play a vital role in delivering preventative healLh education across the majority vr1d. Through dedicated teams of volunteer CHC workers. we reach slums. tribal communities, and rural areas where aCsS to medical care remains limited. At the heart of this inits'ative is our SHINE programme-focusing on Sanitation, Hygiene, Immunisation. Nutrition, and Education. This holistic approach continues to elirninate many preventable health issues fad by vulnerable communities around the globe. In 2024. we began to introduce significant adVanMentS in mental healthcare and trauma counselling. ensuring that emotional wellbeing is addressed alongside physical health. These additions have broadened the impact of our training and expanded the tools available to our partners. Beyond our core traininq initiatives. manv of our larqer development proiects have also contributsd to imoroved health outcomes. From agricultural efforts that enhance food security, tci clean water instsllations. sanitation soluts'ons, and the construction of local clinics-our work continues to meet urgent needs and build healthier communities. Page 2
LINKS INTERNATIONAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objectives and activities (continued) Strategies for achieving objectives (continued) Business Business development continues to be one of Links, most transformative tools in the fight against povety. Through a range of micro and macro-level initiatives, we've seen tens of thousands of families break free from extreme poverty-emF)owered by practical training and aCsS to micro-loan systems that unlock opportunity and resilien. In parallel, we support the launch and growth of income-generating projects that enable organisations across the majority world to fund their own core activities. By helping them move beyond a dependency on funds from the so-called 'developed' world, we're fuelling sustainability, dignity, and long-term self-reliance. To support this mission. Links has built a robust portfolio of business development training resources, designed for both loan recipients and the micro-finance committees overseeing these projects-ensuring that entrepreneurship is matched with sound governance and community-led decision-making. Education Education remains a comerstone of Links, global mission. Through our wide and varied education activities. we empower partners around the worfd to deliver innovats"ve, context-relevant leaming experiences-from formal schooling to specialised training in business, healthcare, leadership, and more. Our programmes also engage with critical themes across the sociological, political. and theological spectrunwuipping individuals and communities to think critically. lead effectively. and bring transfomiative change within their own contexts. Justice Justi remains a ntral pillar of Links, mission. We are actively engaged in promoting racial and gender equality, children's rights and protection, and the strengthening of local Justi systems-believing that every individual deserves dignity, safety, and opportunity. Our work also includes raising awareness of global dangers, such as the predatory tactics of human traffickers, and confronting cuttural norms that stand in opposition to the biblical vision of the Kingdom of God-a vision rooted in restoration, equality, and compassion. We believe that by working together with communities, partners, and local leaders, we can create holistic and sustainable solutions to the injustiS and povety that persist across the majority world restoring both hope and opportunity where they are most needed. Public benefit The Trustees regularly consider and review the public benefit arising from the activities of the Charity. Their focus remains on maximising public benefit by supporting those in need, disadvantaged or economically deprived. The activities of Links Intemational bring significant public benefit. Details of our particular projects and activities are best described on our website www.links.chartty. The Trustees confirm that they have regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidan is relevant. Page 3
LINKS INTERNATIONAL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance • Introduction 2024 has been another vibrant year for Links, marked by growing partnerships, dynamic global projects, and exciting opportunities for teams and trips. We've continued expanding our strategic work worldwide, with notable growth across Africa and Latin America, deepened engagement in the Far East, and carried out innovative training in the Middle East. Both our church and corporate partnerships within the UK have continued to flourish, opening up new strategic pathways both locally and throughout our expanding international neOrkS. 2024 also saw some significant changes within our staff team due to retirements and job changes. This has both brought challenges and exciting opportunities as new staff have brought fresh initiatives and new dynamics to our work. Due to ongoing economic challenges in the UK, securing funding for core charity operations remains our central hurdle. The majority of our expenses as an organisation remain operational, with only a small proportion allocatsd to administrative costs. To strengthen our financial resilience, we intensified our fundraising efforts in 2024. Two tsrgeted campaigns SucsSfullY supported our Education and Business Development initiatives. Additionally, following a role restructure, the CEO assumed direct responsibility for fundraising-freeing up resources and enhancing activity through personal connection and engagement. We remain committed to keeping infrastructure and spending lean. In 2024, we implemented long-overdue updates to our administrative service charges-which had been unchanged for nearly 0 decades-this has significantly improved our ability to meet core costs. Project funding remains steady, and we've seen a continued rise in interest in our work. Our Act4You service has also grown considerably with new initiatives, partnerships with churches and busineses, and also deeper collaboration with neOrkS. We've empowered many individuals within these neIOrkS to create meaningful impact globally. Throughout the year, we've continued to invest in and support our valued overseas partners-working into approximately 40 countries-as well as expanding our impact across the UK through.. Appeals and campaigns Administrative sUPPOrt and project consultancy Assistance in strategic policies for mission and community development Team trips to provide training and support to overseas partners Provision of strategic resources Training, preaching and teaching Page 4
LINKS INTERNATIONAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (continued) • Staff Team The Links staff team continues to grow in strength and cohesion, with an increasingly effective rhythm of hybrid working. By blending time in the office with flexible home and remote arrangements, we're fostering stronger collaboration and connectivity powered by technology and shared purpose. As mentioned previously, 2024 also saw some significant change5 Within our staff team due to retirements and role transitions. While these changes presented both challenges and adjustments, they also opened the door to excits'ng opportunitie5. New team members have brought fresh energy, innovative ideas, and new dynamics to our work-enhancing the way we collaborate and serve. We've also made significant strides in establishing a fully operational Africa Regional Hub in Kenya. Our Africa Regional Director has been leading the charge, carrying out extensive work on the site itself, ensuring this centre becomes a vital catalyst for empowering partners across the continent. We were really pleased to hold our Afrrcan Partners Summit at the new site in November. The dedication and passion of our team remain unwavering. Their con5i5tent commitment, drive, and alignment with the heart and ethos of Links are key to our mission of changing lives and transforming communities. Page 5
LINKS INTERNATIONAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (continued) Overseas Trips and Activities In 2024, Links reached communities across the globe through a series of impactful trips, delivering targeted training in our core areas.. Business Development, Healthcare, Education, Leadership Development, Justice- related issues-including racial and gender equality-and foundational agricultural development. These visits helped strengthen local inits-atives and build lasting capacity within our global partnerships. In parallel with our practical engagement, we've shared our voice and vision widely, speaking and teaching in churches, seminars, and conferences around the world. It's been a privilege to contribute in these many diverse settings. We've also continued to facilitate powerful team and trip experiences for UK churches, creating opportunities for learning, collaboration, and global connection. To extend our reach and adapt to evolving needs, we've maintained and expanded our digital training programmes-using technology to equip and support partners wherever they are in the world. January Ken a. Our African Region Coordinator moved to our new African base in Embu, Kenya. Work was begun on developing the site and connecting specifically with our partners in the region UK: We had a rare and brief opportunity to bring together our Links USA team, Africa Region Director and UK operational team together for a day in the UK. This was a great time of team building and vision casting. February and March Colombia.. Links led a Community Healthcare Training team to work with the indigenous Wayuu tribe in the Northern desert region of Colombia known as La Guajira. Canada." Our CEO carried out training and governance meetings for a charity, comprised of international offices in the US, Canada, Australia, UK and Hong Kong, working specifically with orphanedlabandoned disabled children in China May Costa Rica: We carried out leadership training and micro*nterprise development with an indigenous church nefviork Cuba.. We carried out leadership training and microenterprise development with an indigenous church network. Uganda.. We carried out project site visits and ongoing microenterprise training with an organisation working specifically for women's right. Rwanda.. We carried out due diligen and evaluation with a group of new potential partners. July Malawi: Our previous Links Africa office was situated in Malawi where we have a high volume of partners in various locations around the county. We were able to carry out extensive training in several of our key areas, alongside project consultancy and evaluats'on. August Zambia.. We were able to carry out training with partners working into rural settings, alongside project - consultancy and evaluation. September Phili ines: We carried out project consultancy, leadership training and micro-enterprise development with several Filipino organisations, working predominantly with children and families in slum areas of Manila October Page 6
LINKS INTERNATIONAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (continued) Colombia.. We led a small church team to connect with partners in both the capital city of Bogota and the northem coastal region. We were able to carry out youth focused church activities, leadership training, project evaluation and micro-enterprise development. United Kn dom.. Our African Regional Director visited the UK and spent time with the operational team and worked together towards our ongoing strategic goals November Ken a. We We able to cary out our African Partners Summit, bringing in partners from various countries, including Kenya, Uganda, Malawi, Zambia and the UK December Our African Regional Director was able to spend time with the operational team in the UK Projects At Links, our vision is for every project we initiate to be self-sustaining-or actively progressing toward that goal. We a committed to developing initiatives that are holistic, empowering, and income-generating for our partners, ensuring long-term impact and StIlence. In 2024, thanks to a blend of targeted partner contributions and general funding, we've been able to support a diverse portfolio of projects. These efforts have focused on.. Providing aid and relief work in various settings Solar Farming in Malawi Healthcare and sanitation projects, including pit latrines, water filtration and bore hole wells in various parts of Africa, Latin America and India Training voluntary healthcare workers Provision of safe water supply in various nations Malaria prevention Agriculturall livestock initiatives Medium-size business start-ups to provide employment and income streams for partners In parallel with our broader initiatives, we continued to invest in ongoing micro-enterprise projects across Uganda, Kenya, Pakistan, India, Malawi, and Zambia. These small business ventures play a crucial role in building economic resilience within communities. We are also looking to start new initiatives in Cuba, Costa Rica and The Philippines. Recognising the challenges posed by high local inflation, we also prioritised maintaining the value of existing micro-business funds-helping safeguard their impact. In doing so, we encouraged further growth in Sussful enterprises and reinforced the sustainability of this important area of our work. Page 7
LINKS INTERNATIONAL TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (continued) Act4You Under our growing Act4You initiative, the number of accounts managed by Links continued to rise in 2024. By year-end. we were supporting over 145 active accounts across 120 account holders-spanning over 35 countries. These accounts serve a broad and diverse client base, from individuals to businesses and organisations engaged in charitable work around the globe. Beyond financial managemen( Act4You also provides govemance and consultancy services tailored to each partner's needs. As demand has grown and our respansibilities have deepened, we've tsken steps to enhance our capacity, compliance, and service excellence. This included a revision of reporting structures and our account charges to ensure we can continue delivering robust due diligence, strong govemance, and sustainable support for all clients involved. • National Offices Our partnerships with the national offices in the USA, Central America and Africa remain strong and collaborative. Throughout the year, we've worked c105ely on a number of global projects and shared initiatives, reinforcing our unified vision and impact acros5 regions. As mentioned previously a key focus in 2024 has been the continued development of our Africa-based regional office, ensuring it is well-equipped to seNe our partners across the continent with greater relevance and responslveness. Looking ahead, we're exploring the possibility of establishing additional regional hubs in Latin America and Asia-exciting prospects that would allow us to provide more localised support and strengthen our presen across these growing neOrkS. • Communlcatlons Several years ago we made the decision to transition from print, to producing our annual review and update magazine in digital format, choosing to distribute it as a downloadable resour. This shift reflected both our commitment to environmental SponSIbl11ty and the need for greater cost efficiency. The move was warmly reived, and we continue with this approach in 2024. Alongside this, our monthly e'.Link-in both digital video and written formats-has remained a key communication tool, helping us keep partners informed about the latest developments, stories, and opportunities across the globe. Both the e:Link and e'.Magazine are provided free of charge, by request, to approximately 3,500 households in the UK and beyond. Our monthly email newsletter (e'.Link) now reaches around 1,500 recipients and continues to be a valuable means of increasing engagement with our website and sharing the heart of our mission with a growing audien. Our social media presen also grew throughout 2024. expanding our reach across a broad age range and diverse demographic. This growth has not only increased visibility for the work of Links, but also strengthened our ability to engage with supporters, share stories, and inspire action across digital platfoms. Page 8
LINKS INTERNATIONAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (continued) Fundraising activities and income generation 2024 was another standout year for sponsored events, with participants raising vital funds and spreading awareness through high-profile initiatives like the London Marathon. We also saw a heartening rise in supporter- led fundraising, as individuals took the initiative to organise their own events-from sponsored runs and walks to quizzes and cake sales. This groundswell of creativity and commitment has not only boosted financial support but also deepened community engagement. We were especially encouraged by the success of our annual appeals, which this year focused on of our core impact areas.. Education and Business Development. Both campaigns resonated strongly with supporters. generating generous contributions that enabled us to expand access to learning and strengthen enterprise opportunities for individuals and communities around the worfd. In addition, we welcomed several new church and corporate partnerships, further broadening our collaborative reach and enabling even greater shared impact both in the UK and internationally. Financial review • Golng concern Total incoming resources for the year were £1,608,914 (2023- £1,526,060). Outgoing resources were £1,647,033 {2023 - £1,525,141). This resulted in a deficit for the year of £96,42512023 - £919 surplus). The Trustees note that the change from a surplus in 2023 to a deficit in 2024 was largely due to increasing pressure on income streams in keeping with expectstions in the current economic situation in the UK. The trustees and staff team are working closely with our supporters to open up new income streams and work towards a posits'on where core funding is met from income rather than reserves.. The Trustees have reviewed the position of the Charity and reflected the present economic condition5 in their ongoing budgeting process for the current year. As at the year end, the charity had totsl fund5 of £943,605 (2023 - £981,724) of which restricted funds, held separately in a dedicated bank account, represented £690,834 {2023 - £690,682) After making appropriate enquiries, the Trustees have a reasonable expectation that the Chartty has adequate resources to continue in operational existen for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. • Reserves policy The Trustees aim to maintain an ongoing reserve within general unrestricted funds of six months of usual operating costs. At present reserves are in eXsS of this and the trustees are considering various strategic options for the long-term use of some of these ndS to ensure the most effective retum on investments to secure the future activities of the charity. • Material Investments pollcy The level of investments and their location are reviewed at least annually or when any significant income is reived. Page 9
LINKS INTERNATIONAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Principal risks and uncertainties The Trustees review their assessment of the major risks to which the Charity is exposed on a regular basis each year or when circumstances significantly change. if earlier. These risks include the dangers that can arise trom working in potentially hostile settings. As such, we have developed policies and prOdureS to mitigate against such risks, including dynamic risk assessments, anti-terrorism, fraud and money laundering policies etc. Our procedures, policies and systems are reviewed at least annually to mitigate against the various risks. Payments to Trustees There were no remunerative payments to Trustees,. only expenses incurred by Trustees related to attending board meetings. Structure, governance and management • Constitution The Charity is established as a charitable incorporated organisation {CIO) and is governed by a constitution, the current version of which was adopted on 23 August 2016 on the incorporation of the Charity. The Charity is registered with the Charity Commission for England and Wales. • Methods of appointment or election of Trustees The constitution provides that there must be at least three Trustees but does not specify an upper limit on the size of the Board. In practice, the Charity seeks to operate within the range of six to twelve Trustees at any ts"me. Appointment of Trustees is govemed by the constitution. Every Twstee is appointed for a term of three years by way of a resolution pa&sed by the Board. In selecting individuals for appointment as Trustees, the Board has regard to the skills, knowledge and experience needed for the effective administration of the Charity. The Chief Executive is responsible for coordinating the induction of new Trustees, together with the Chair. Day-to-day management of the Charity is delegated to the staff team, via the Chief Executive. • Organisational structure and declslon-making policies The govemance of the Charity rests with the Board of Trustees. The Trustees are the persons with the general control and management of the administration of the Charity. The Trustees carry the overall responsibility for the Charity including its financial stability and the implementation of its charitable aims and objectives. Strategic decisions as to the aims, activities, planning and budgets of the Charity a made by the Trustees. The Board meets at least four ts'mes per year. • Relatsd party relationships The Charity has informal connections to Links USA, a Us-based entity, operating under the "Links International" banner, vthich operates autonomously. Though it is a separate entity, Links USA worf(s in relationship with the 'Head Offi. in the UK, holding to Links, vision, mission, ethos and values, following the Charity's methods, branding and also utilising Links. training resources and operational models. The Charty does not have a trading subsidiary. Page 10
LINKS INTERNATIONAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for future periods Links continues to grow in both scope and strength, investing in the development of internal systems, staff capacity, and regional presence. By enhancing our organisational structures and cultivating a strong, skilled team. we're laying the groundwork for sustsinable growth and deeper global impact. A key part of this strategy involves the creation and expansion of regional hubs-designed to extend our work across continents and provide more localised, responsive support to our global partners. Current areas of focus include: strengthening infrastructure to support the rollout of regional offices Ongoing development of our Africa Regional Hub operations Research and exploration into potential bases in Latin America and Asia Scaling up staff training and leadership development Refining digital systems to improve internal efficiencies and partner engagement statement of Trustees. responslbllltles The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of reSoUrs, including its income and expenditu, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102>., make judgments and accounting estimates that are reasonable and prudent., state whether applicable U K Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuraw at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. 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. Disclosure of informatlon to auditors Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit infomation of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have bn taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Page11
LINKS INTERNATIONAL TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Audltors The auditors, Baldwin Scofield Ltd, have indicated their willingness to continue in offi. The designated Trustees will propose a motion reappointing the auditors at a meets'ng of the Trustees. Approved by order of the members of the board of Trustees on 6 August 2025 and signed on their behalf by.. P Moore (Chair of Twstees) Page 12
LINKS INTERNATIONAL INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINKS INTERNATIONAL Opinlon We have audited the financial statements of Links International (the 'charity') for the year ended 31 December 2024 which comprise the Statement of financial activities, the Balance sheet. the Statement of cash flows and the ielated notes, including a summary of significant accounting policies. 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 practi). The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in Preferen to the Accounting and Reporting by Charities" Statement of Recommended Practi issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordan with the Generally ACpted Accounting Practs'ce effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial statements: give a true and fair view of the stste of the charity'5 affairs as at 31 Dember 2024 and of its incoming resources and application of resources for the year then ended., have been properly prepared in accordan with United Kingdom Generally Apted Accounting Practi,. and have been prepared in accordan with the requirements of the Charities Act 2011. Basis for oplnlon We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan 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 concem In auditing the financial statements, we have concluded that the Trustees, use of the going conrn basis of accounkn'ng in the preparation of the financial statements 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 signrficant doubt on the charity's ability to continue as a going cOnM for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going conrn are described in the relevant sections of this report. Page 13
LINKS INTERNATIONAL INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINKS INTERNATIONAL (CONTINUED) other information The other information comprises the information included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 incon515tent with the financial statements 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 financial statements 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 We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our oplnlon: the information given in the Trustees, pOrt is inconsistent in any material respect with the financial ststements., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records and returns- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In pparIng the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going conrn 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 50. Page 14
LINKS INTERNATIONAL INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LINKS INTERNATIONAL (CONTINUED) Audltors. responsibilities for the audit of the financial statements 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 assuran about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor5, 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 financial statements. Irregularities, including fraud, are instances of non-complian 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.. We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable incorporated organisation and determined that the most significant are those that relate to the reporting framework in conformity with the requirements of the Charities Act 2011 and the relevant direct and indirect tax compliance regulations in the United Kingdom. We understood how the charitable incorporated organisation is complying with those frameworks by making enquiries of management to understand how the charitable company maintains and communicates its policies and procedures in these areas and corroborated this by reviewing supporting documentation and minutes of meetings of those charged with governan. We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur by considering the risk of management override to be a fraud risk. In addition, we considered the risk of management override by sampling from the entire population of journals, identifying specific transactions which did not meet our expectations based on specific criteria and investigated these to gain an understanding and then agree back to source documentation. Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved verifying that material transactions were recorded in Complian with Financial Reporting Stsndards in conformity with the requirements of the Charities Act 2011. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc. .uklaudi or on5ibili ies. This description forms part of our Auditors, report. Page15
LINKS INTERNATIONAL INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LINKS INTERNATIONAL (CONTINUED) 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 Auditors, report and for no other purpose. To the fullest extent permitted by law, we do not acpt or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. Baldwin Scofield Ltd Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU 6 August 2025 Baldwin Scofield Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 16
LINKS INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable acb-vities 1,411,417 71,879 98,717 13,060 13,841 1,483,296 98,717 13,060 13,841 1,428,970 T4, 740 12,449 9,401 500 Other trading activities Investments Other income Total income 1N11,417 197,497 1,608,914 1,526,060 Expenditure on: Raising funds Charitable activities 5,811 229,957 5.811 1,641,222 14,299 1.510.842 1,411,265 Total expendituro 1,411,265 235,768 1,647,033 1.525,141 Net movement in funds 152 (38,2711 138,119) 919 Reconciliation of funds: Total funds brought forward Net movement in funds 690,682 152 291.042 138,271) 981,724 138,119) 980,805 919 Total funds carried forward 690.834 252,771 943,605 981,724 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 20 to 34 form part of these financial ststements. Page 17
LINKS INTERNATIONAL BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 14 25,72S 927,214 26,178 964. 508 952.939 990. 686 Current liabilities Creditors.. amounts falling due within one year 15 (9,334) (8,962) Net current assets 943,605 981. 724 Total assets less current liabilities 943.605 981, 724 Totsl net assets 943,605 981.724 Charity funds Restricted funds 17 17 690,834 252,771 690, 682 291,042 Unrestricted funds Total funds 943,605 981, 724 The financial ststements were approved and authorised for issue by the Trustees on 06 August 2025 and signed on their behalf by.. G Jones (Treasurer) The notes on pages 20 to 34 form part of these financial statements. Page 18
LINKS INTERNATIONAL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities 137,294) (7, 634) Cash flows from investing activities Dividends, interests and rents from investments 9.401 Net cash provided by investing activities 9A01 Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equlvalents in the year Cash and cash equivalents at the beginning of the year (37,294) 964,508 1.767 962, 741 Cash and cash equlvalents at the end of the year 927,214 964, 508 The notes on pages 20 to 34 form part of these financial statements Page 19
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General information The Charity is established as a charitable incorporated organisats.on (CIO) and is governed by a constitution, the current version of which was adopted on 23 August 2016 on the incorporation of the Charity. The Charity is gIStered with the Charity Commission for England and Wales. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordan with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial ststements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 father than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has Sin been withdrawn. Links International meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on estsblishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the propety in question will not be required to satisfy claims in the estste. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount re1Vable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. Grants are included in the 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 Balan sheet. Where income is reiVed in advance of entitlement of receipt, its recognition 15 deferred and induded in creditors as deferred income. Where entitlement occurs befo income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the b'me the investment income is receivable. Page 20
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.3 Expenditure Expenditure is recogni5ed once there is a legal or constructive obligation to transfer economic benefit to a third party, it is prabable 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 Charity to raise funds for its charitsble 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 Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fvlfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the arTh)unt prepaid net of any trade discounts due. 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities 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. Liabilities are recognised at the amount that the Charity ants'cipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. Page 21
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.10 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in ftjrtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacies Restricted Unrestrlcted funds funds 2024 2024 Total funds 2024 Donations Legacies 1,411,417 71,374 505 1.482,791 505 1,411,417 71,879 1,483,296 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Donations Legacies 1,213,653 78, 648 136,669 1,292,301 136, 669 1,213, 653 215,317 1,428,970 Page 22
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestrictsd funds 2024 Total funds 2024 Income from charitable activities - Administration fees received 98.717 98.717 Unrestricted funds 2023 Total funds 2023 Income from charitable activities - Administration fees received 74, 740 74, 740 Income from other trading activities Income from fundraising events Unrestricted funds 2024 Total funds 2024 Fundraising events 13,060 13,060 Unrestricted fvnds 2023 Total funds 2023 Fundraising events 12.449 12,449 Investment income Unrestricted funds 2024 Total funds 2024 Investment income - bank interest 13,841 13,841 Page 23
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income (continued) Unrestricted funds 2023 Total funds 2023 Investment income - bank interest 9.401 9.401 Other incoming resources Total funds 2024 Other incoming resources Unrestricted funds 2023 Total funds 2023 Other incoming resources 500 500 Analysls of grants Grants to Institutions 2024 Total funds 2024 Grants to projects 1,411,265 1A11,265 Grants to Institutions 2023 Total funds 2023 Grants to projects 1,297.216 1,297,216 Page 24
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure on charitsble activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Direct costs of charitable activities 1,411,265 229,957 1,641,222 Restricted Unrestricted funds funds 2023 2023 Total 2023 Direct costs of charitable activities 1,297,216 213,626 1,510,842 10. Analysis of expenditure by activities Actlvltles undertaken directty 2024 Grant funding of activities 2024 Support costs 2024 Total funds 2024 Direct costs 216,348 1,411,265 13,609 1,641,222 Actiwties undertaken directly 2023 Grant funding ol aGtivities 2023 Support costs 2023 Total funds 2023 Direct costs 200,690 1,297,216 12,936 1.510,842 Page 25
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Analysls of expenditure by activities (continued Analysls of direct costs Total funds 2024 Activities 2024 Staff costs Travel costs 166,752 6,937 4,388 266 575 3,883 2,839 7,683 1,011 2,130 397 166,752 6,937 4,388 266 575 Regional African Coordinator Other costs Telephone & broadband Website fees Sundry expenses Office rent and costs Insurance Computer and SOare costs Postage offi equipment maintenance Photocopier costs Africa office administration 3.883 2,839 7,683 1,011 2,130 397 241 241 119 19,127 19.127 216,348 216,348 Page 26
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Analysis of expenditure by activities (contlnued) Analysis of direct costs Icontinued) Total funds 2023 Activities 2023 Staff costs Travel costs Regional African Coordinator Other costs Telephone & broadband Website fees Sundry expenses offi rent and costs Insuran Computer and sofvare costs Postage Office equipment maintenance Photocopier costs Africa office administration 174,079 3, 180 6,287 341 174.079 3,180 6,287 341 477 477 3,295 35 7,312 1,101 1,518 451 616 3,295 35 7,312 1.101 1,518 451 616 119 1,879 119 1,879 200, 690 200,690 Analysis of support costs Total funds 2024 Total funds 2023 Professional fees 13,609 12.936 11. Auditors. remuneratlon 2024 2023 Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 5,650 5,400 Page 27
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 158,180 6,660 1.912 163.963 7,292 2, 824 166,752 174,079 The average number of persons employed by the Charity during the year was as ft)Ilows'. 2024 2023 No. Direct charitable activities Administration No employee ceiVed remuneration amounting to more than £60,000 in either year. Joe Gisbey is the chief executive and is paid a salary amounting to £46,665 (2023 - £45,300) plus pension contribution benefit amounting to £1,213 (2023 - £1,172). Employment expenses relating to travel costs amounting to a total of £3.772 (2023 - £3,157) were incurred with respect to the chief executive. 13. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024, no Trustee expenses have been inCUrd (2023 - £NIL). 14. Debtors 2024 2023 Due within one year Other debtors 25,725 26,178 25,725 26,178 Page 28
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Creditors.. Amounts falling due within one yoar 2024 2023 Other taxation and social security Pension fund loan payable Accruals and deferred income 3,179 505 3,020 542 5,400 5.650 9.334 8,962 16. Financial instruments 2024 2023 Financial assets Financial assets meaSUd at fair value through income and expenditu 927,214 964,508 Financial assets measured at fair value through income and expenditure comprise amounts held in bank accounts. Page 29
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Ststement of funds ststement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Unrestricted funds General Funds - all funds 291,042 197,497 (235,768) 252.771 Restricted funds Africa Colombia 35.762 8,481 7.994 25,830 36,288 29,216 10,796 3,044 68,345 19,671 10,183 74,758 106 31,527 16.942 30,336 44.096 3,237 234.070 108,080 93,237 138.292 116,351 148,118 47,820 15,774 2,676 98,645 101,356 36,545 45,359 310 11,833 6,000 73,512 50,674 35,582 281,253 (86,805) 192.565) (130,773) (108,995) {147,913) 168.634 122,544) (2,162) (71,384) (104,520) (39,067) {53,161) (471) (13,353) (5,225) (85,553) (51.788) (29,335) 1297.017) 57,037 9.153 15,513 33,186 36,493 8,402 4,026 3.558 95,606 16,507 7,661 66,956 (55) 30,007 17,717 18,295 42.982 9,484 218.306 India Kenya Malawi Mexico Nepal Nigeria Pakistan Philippines Sierra Leone South Africa Tanzania Thailand Togo Uganda UK Other Generav Worldwide 690,682 1,411,417 (1,411,265) 690.834 Total of funds 981,724 1,608,914 (1,647,033) 943,605 Page 30
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Statement of funds (contlnued) Statement of funds - prior year Balan at 31 Dember 2023 Balan at l January 2023 Income Expenditu Unrestricted funds General funds - all funds 206.560 312,407 (227, 925) 291,042 Restricted funds Africa Columbia 34,Q11 10,438 340 86,183 91,3T9 2, 932 27,187 37,350 110,816 52,251 10.89T 2, 308 84,002 38,041 41,311 6,879 9, 643 6, 000 81,576 79, 025 36,011 198,590 211,272 (85,234) (93, 336) (3,272) (33, 661) (36, 474) (102, 089) (44, 650) (13,575) (2, 190) (73, 959) (34, 955) (40,205) (8,088) (18, 145) (2, 040) (95,081) (79, 094) (35, 865) (273,911) (221,392) 34,960 8,481 Europe India Kenya Malawi Mexico Nepal Nigeria Philippines Sierra Leone South Africa Tanzania Thailand Togo Uganda UK 14,469 24,954 27,561 21,615 13,474 2, 926 9, 628 7,097 73. 652 1.315 40,029 12,982 43,841 44, 165 3, 889 309,394 78,465 7,995 25, 830 36,288 29,216 10,796 3,044 19,671 10,183 74, 758 106 31,527 16,942 30,336 44.096 4.035 234,073 68.345 Other Generall worldwide Pakistan 774.245 1,213.653 (1,297,216) 690,682 Total of funds 980. 805 1,526,060 (1,525, 141) 981. 724 Page 31
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure General funds 291,042 690,682 197,497 1,411,417 (235,768) (1,411,265 252.771 690,834 Restricted funds 981,724 1,608,914 11,647,033) 943,605 Summary of funds - prior year Balan at 31 Dernber 2023 Balance at l January 2023 Incom8 Expenditure General funds Restricted funds 206, 560 774,245 312,407 (227, 925) 1,213,653 (1,29T,216) 291,042 690,682 980. 805 1,526, 060 (1,525, 141) 981,724 19. Analysis of net assets between funds Analysis of net assets between funds - curront period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Current assets Creditors due within one year 690,834 262,105 (9.334) 952.939 19,334) Total 690,834 252,771 943,605 Page 32
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Analysis of net assets between funds (contlnued) Analysis of net assets between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Current assets Creditors due within one year 690, 682 300,004 (8, 962) 990,686 (8,962) Total 690, 682 291,042 981, 724 20. Reconciliation of net movement in funds to net cash flow from operating activltles 2024 2023 Net incomelexpenditure for the period (as per Statement of Financial Activities) 138,119) 919 Adjustments for: Dividends. interests and rents from investments Decrease in debtors Increase in creditors (9,401) 434 414 453 372 Net cash used in operating activities 137,294) (7,634) 21. Analysis of cash and cash equivalents 2024 2023 Cash in hand 927,214 964,508 Total cash and cash equivalents 927,214 964,508 Page 33
LINKS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 22. Analysis of changes In net debt At1 January 2024 Cash flows At31 Decembor 2024 Cash at bank and in hand Debt due within 1 year 964,508 (542) 137,294 37 927.214 {505) 963,966 (37,257) 926,709 23. Penslon commltments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £2,824 (2022 - £2,706) An amount of £542 (2022 - £535} was payable to the fund at the balance sheet date and is included in creditors. Page 34