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2023-12-31-accounts

Charity registration number 1194166

Company registration number 13060874 (England and Wales)

XYLEM GLOBAL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

XYLEM GLOBAL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J H L Pigott
N Tellwright
M J Pearcy
Charity number 1194166
Company number 13060874
Registered office 3 Bentsbrook Park
North Holmwood
Dorking
Surrey
United Kingdom
RH5 4JL
Independent examiner David Howard
1 Park Road
Hampton Wick
Kingston Upon Thames
KT1 4AS

XYLEM GLOBAL

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5 - 6
Notes to the financial statements 7 - 12

XYLEM GLOBAL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2023

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

The financial statements have been prepared in accordance with the accounting policies set out in note 01 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "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 Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Objects of the Charity have not changed from those listed in the Articles and Memorandum of Association and in summary they are to conserve, protect and improve the physical and natural environment including but not limited to the preservation of forests, ecology, and marine environments, and to advance the education of the public in these matters, through the provision of grants.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake, and they are collectively aware of this guidance in ensuring that all their actions are for the public benefit.

Achievements and performance

Although the stock market was tough, the income stream from our permanent capital continued unabated and meant we had £1,500 for distribution this year. We decided on three charities this year, with £500 going to each. The charities were The Woodland Trust, City of Trees and Marine Conservation Society.

We also received a healthy contribution this year and are well on the way to having £100,000 permanent capital.

Financial review

For the year ended 31 December 2023 the charity had income of £30,324 and expenditure of £3,447 leaving a surplus of £19,300.

The total balance of the funds at the year end was £67,154.

The trustees are confident that in following their plans the charity will remain a going concern for the next 12 months.

It is the policy of the charity to build and maintain a cash level equivalent to between three- and six-month’s expenditure. This is to be funded from part of the income generated from the permanent capital.

Structure, governance and management

The charity is a company limited by guarantee and is governed by the Memorandum and Articles of Association posted by the charities Commission and at Companies House and were incorporated on 3 December 2020. There have been many meetings of the board since formation. The meetings are minuted.

The board has remained the same since inception.

J H L Pigott N Tellwright M J Pearcy

XYLEM GLOBAL TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED} FOR THE YEAR ENDED 31 DECEJVBER 2023 Trustees appoint¢d on formation of the chaTitable company are familiar with the practical work of the organisation. Should any new trustees join the entity, r¢cruiÉment will b¢ bl￿d on experience and iraining undertakeii accordingly. StatsmeDt of Trustees responsibilities The Trustees, who are also the directors of Xylem Global for the purpose of company law. are respoi)sible for preparing Ihe Trustees Report and the financial statemenis in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢cepted Accounting Practice). Company Law 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 the incoming r￿oUrceS and application of resources. including the income and ¢xpenditure, of the charilable company for that year. In preparing these financial statements, the Trustees are required to: select suitable a￿oUnting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estitnates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followe(L subject to any material departures disclosed and explained in the financia] statements- and prepare the financial ststements on the going concern basi5 unless it is inappropriate to presume that the Charity will continue in operation. The Trust¢¢s are respoiisible for ke¢ping adequate accounting records that disclose with Teasonable accuracy PAt any time the finan¢ial positioii of the Charity and enable them to ensur¢ that the financial statements Comply with the Companies Act 2006. They arc 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. The Truste¢s report was approved by the Board of Trustees. JHLPigott Trustee Date..

XYLEM GLOBAL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF XYLEM GLOBAL

I report to the Trustees on my examination of the financial statements of Xylem Global (the Charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

David Howard

1 Park Road Hampton Wick Kingston Upon Thames KT1 4AS

Dated: ......................... 06/09/2024

XYLEM GLOBAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

UnrestrictedUnrestricted UnrestrictedUnrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 3 26,002 20,097
Investments 4 4,322 1,776
Total income 30,324 21,873
Expenditure on:
Charitable activities 5 3,447 2,829
Net gains/(losses) on investments 10 (7,577) -
Net movement in funds 19,300 19,044
Fund balances at 1 January 2023 47,854 28,810
Fund balances at 31 December 2023 67,154 47,854

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

XYLEM GLOBAL

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Investments
12
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current liabilities
Total assets less current liabilities
Income funds
Unrestricted funds		 2023
£
3
(1,200)		 £
68,351
(1,197)
67,154
67,154
67,154		 2022
£
3
(1,200)		 £
49,051
(1,197)
47,854
47,854
47,854

XYLEM GLOBAL BALANCE SHEET (CONTINUED) ASA T31 DECEMBER 2023 The eompany is entitled to the ¢xemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The directors acknowledge th¢ir responsibilities for complying with the requirements of the Companies Act 2006 with resp¢¢t to accounting records and the preparation of financial ststements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with se¢lion 476. These fin￿]CIal statements have been prepared in accordance with the provisions appli¢able to companies subject to the small companies r¢gime. The financial statements were approved by the Trustees on .. JHLPigott Trustee Trustee Company registration number 13060874

XYLEM GLOBAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Xylem Global is a private company limited by guarantee incorporated in England and Wales and has no share capital. In the event of the charitable company being would up, the liability in respect of the guarantee is limited to up to £10 per member. The registered office is 3 Bentsbrook Park, North Holmwood, Dorking, Surrey, RH5 4JL, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

XYLEM GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

XYLEM GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 26,002 20,097

XYLEM GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 4,131 1,764
Interest receivable 191 12
4,322 1,776

5 Charitable activities

Grant funding of activities (see note 6)
Share of support costs (see note 7)
Share of governance costs (see note 7)		 2023
£
1,500
747
1,200
3,447		 2022
£
1,000
1,829
-
2,829

6 Grants payable

2023 2022
£ £
Grants to institutions:
Other 1,500 1,000

XYLEM GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

7 Support costs

Support
costs
Governance
costs
£
£
Legal fees
420
-
Bank charges
327
-
Independent examination fee
-
1,200
747
1,200
Analysed between
Charitable activities
747
1,200		 2023
£
420
327
1,200
1,947
1,947		 2022
£
1,681
148
-
1,829
1,829

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2023 2022
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.
Net gains/(losses) on investments
Unrestricte Total
d
funds
2023 2022
£ £
Revaluation of investments (7,577) -

10 Net gains/(losses) on investments

XYLEM GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Fixed asset investments

Listed Cash in Total
investments portfolio
£ £
Cost or valuation
At 1 January 2023 29,953 19,098 49,051
Additions 43,200 - 43,200
Valuation changes (7,577) 32,117 24,540
Disposals (1,793) (46,647) (48,440)
At 31 December 2023 63,783 4,568 68,351
Carrying amount
At 31 December 2023 63,783 4,568 68,351
At 31 December 2022 29,953 19,098 49,051

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 1,200 1,200

14 Related party transactions

There were no disclosable related party transactions during the year.