2022-12-31-accounts

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WORLD CONNECT INTERNATIONAL, UK TRUSTEES’ REPORT AND ACCOUNTS YEAR ENDED: 31[ST] DECEMBER 2022 CHARITY NUMBER: 1194944

Reference and administrative information

Trustees

The Duke of Bedford, Andrew Ian Henry Russell Hafsat Abiola Christopher Cabot, Chair of Trustees Glenda Burkhart (resigned 15 March 2023) Esme Lovell Smith Courtenay Cabot Venton (resigned 1 December 2022) Ilia Tchelikidi Sarah Caplin (appointed 1 December 2022) Joanne Lankester (appointed 21 February 2023)

Executive Director

Patrick J. Higdon

Principal Office

21 Greswell Street, London, SW6 6PR

Charity Number

1194944

Governing Document

Constitution of a Charitable Incorporated Organisation

Independent Examiner

Price Bailey LLP, Anglia House, 6 Central Avenue, St. Andrews Business Park, Thorpe St. Andrew, Norwich NR7 0HR

Bankers

CAF Bank, 25 Kings Hill Ave, Kings Hill, West Malling ME19 4TA

Solicitors

Morgan, Lewis & Bockius UK LLP, Condor House, 5-10 St. Paul's Churchyard, London EC4M 8AL

Report of the trustees for the year ended 31[st] December 2022

The Trustees present their annual report and financial statements of the charity for the year ended 31[st] December 2022. The financial statements have been prepared on a receipts and payments basis in accordance with the requirements of the Charities Act 2011.

The charity was incorporated on the 24[th] of June 2021.

Structure, governance, and management

World Connect International, UK is a registered charitable incorporated organisation, charity number 1194944, in England and Wales and is governed by its Constitution adopted on 2 December 2021.

Trustees are responsible to oversee new member appointments and resignations. Under the Constitution, the Board of Trustees is subject to there being no fewer than three Trustees at any one time.

There were two changes to the board positions in 2022, in which one Trustee resigned her duties and one Trustee was appointed to the board. These changes occurred on 1 December 2022. The Trustees give their time to the charity on a voluntary basis and receive no renumeration.

Trustees may be appointed by a resolution passed at a properly convened meeting of the charity trustees. A Trustee may be retired from the board by notification in writing, absent from all meetings without permission within a period of six months and the trustees resolve the office to be vacated, death, a registered medical practitioner’s written opinion a person has become physically or mentally incapable of acting as a trustee, or disqualification from acting as a charity trustee by virtue of sections 178-180 of the Charities Act 2011 (or any statutory re-enactment or modification of that provision). Any person retiring as a charity trustee is eligible for reappointment.

The Trustees will meet during the year, in person or by video conference, to discuss matters relevant to the charity. They work with the Executive Director to support the ongoing fundraising, grant making, and long-term strategic plans for the charity. Responsibility for the implementation and day-to-day management is delegated to the Executive Director.

Risk management

The Trustees have considered the strategic, business, and operational risks the charity can confront and confirm appropriate systems have been established and are regularly reviewed. These risks include grant making to communities around the world. Trustees and the Executive Director maintain policies and procedures to mitigate those risks.

Objectives and activities for the public benefit

World Connect International, UK creates opportunities for local leadership to grow with trust in our selected partners and direct investment in local innovation. Progress in global development requires local communities to own the ideas that transform life as it is, improving health, education, and economic opportunity.

World Connect applies the following principals in its grantmaking:

Trust in Local Leaders
The transformational ideas and energy to make progress in development exists at the local level worldwide. World Connect’s global trust network sources the leaders and its tools enable quick action with sustaining health, education, and economic impact for communities in the Global South.
Direct and Quick Investment
Funding brings change and the quick movement of resources creates momentum.
1. Accountability
Communities receiving a grant from World Connect will contribute their own cash and in-kind investments in their projects.
Scale
Direct investments and quick action lead to confidence that spreads.

The charity is committed to making grants to communities based in the Global South that includes, but is not limited to, the following objects:

The prevention or relief of poverty by providing grants to individuals, charities, or other organizations working to relive poverty.
The advancement of education by providing grants to individuals, charities, or other organizations working to advance education.
The relief of sickness and the preservation of health by providing grants to individuals, charities, or other organizations working to relieve sickness and preserve health.

In 2022, World Connect has established a local presence in Ecuador, engaging two local field agents to connect to communities in the country. Four grants were awarded and additional connections were made to support World Connect’s investment in the Ecuador community in the forthcoming years.

In addition, World Connect as a new charity, advanced its efforts to educate the UK community about its mission and accomplishments. It engaged two new donors and invited two trustees to its board.

The Trustees have had regard to the commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.

Grant making policy

The Trustees have established a grant making policy to achieve its objects for the public benefit that includes the prevention or relief of poverty, the advancement of education, and the relief of sickness and preservation of health in the Global South.

The charity will award grants generally between £1,000 and £8,000, but larger grant awards will be considered. The charity welcomes proposals from Global South applicants that includes other organisations, charities, communities, and individuals. The charity will also consider proposals shared by World Connect, Inc. that come from similar applicants.

A candidate may submit a grant at any time, however, a formal call for proposals is announced periodically throughout the year. All candidates must complete a grant application provided by the charity, that includes a project budget to be considered for a grant. A Committee of World Connect Staff will review proposals and recommend to the Charity Trustees, who have ultimate responsibility for all grant-making decisions, grant recommendations.

Candidates awarded with a grant from World Connect will follow the reporting and monitoring requirements set forth by the charity.

Financial review

In 2022, World Connect’s total income was £76,930 (2021: £nil). Total expenditure incurring during the year was £10,877 (2021: £nil). Total cash funds at the end of the period were £66,053 (2021: £nil).

At 31 December 2022, £82,000 was held as pledges receivable, and accounts payable was At 31 December 2022, £nil was held as pledges receivable, and accounts payable was £6,862. £16,862.

World Connect currently does not have a reserves policy in place. The charity is in the early stages of establishment and continues to focus on attracting new donors to advance its mission. As the organization grows its revenues, it will implement a policy for managing a reserve.

Plans for the future

In the forthcoming years, the Trustees and Executive Director will commit to deepening the engagement with the UK public to educate and share with their networks and other external communities the mission of the organization. The charity intends to increase its global giving in the future and deepen its impact throughout communities in the Global South.

For and on behalf of the Board of Trustees

Chris Cabot

Christopher Cabot (Oct 4, 2023, 3:29pm)……………………………

……………………………

Christopher Cabot Chairperson

World	Connect International, UK	Connect International, UK		1194944
	Receipts andpayments accounts				CC16a
For	the period from	01-Jan-22	To	31-Dec-22

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £ 34,894 1,000 36 - - - - - 35,930 - - - 35,930 - 300 64 - - - - - 364 - - 364 35,566 - - 35,566	Restricted funds to the nearest £ 41,000 - - - - - - - 41,000 - - - 41,000 10,513 - - - - - - - 10,513 - - - 10,513 30,487 - - 30,487	Endowment funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds to the nearest £ 75,894 1,000 36 - - - - - 76,930 - - - 76,930 10,513 300 64 - - - - - 10,877 - - - 10,877 66,053	Last year to the nearest £
Donations	34,894				-
Seed funding	1,000				-
Bank interest	36				-
	-				-
	-				-
	-				-
	-				-
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*Sub total*(Gross income for AR)	35,930				-

A2 Asset and investment sales, (see table).
	-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
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Field agent fees	-				-
Audit and accountancyfees	300				-
Bank fees	64				-
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	364				-

A4 Asset and investment purchases, (see table)

	-
**Sub total **	-				-
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					-

	35,566	30,487	-	66,053	-
	-	-	-	-	-
	-	-	-	-	-
	35,566	30,487	-	66,053	-

CCXX R1 accounts (SS)

03/10/2023

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period
Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets	Signature Creditors Details Details Bank balances Details Details *Total cash funds* (agree balances with receipts and payments account(s)) Details Christopher Cabot (Oct 4, 2023, 3:29pm) Chris Cabot	Unrestricted funds Restricted funds to nearest £ to nearest £ 35,566 30,487 - - - - 35,566 30,487 OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) Restricted 16,862 - - - - Print Name Christopher Cabot	Endowment funds to nearest £
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			OK
			Endowment funds to nearest £
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			Current value (optional)
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			Current value (optional)
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			When due (optional)






			Date of approval
	Chris Cabot	Christopher Cabot	04 Oct 2023
	Christopher Cabot (Oct 4, 2023, 3:29pm)

CCXX R2 accounts (SS)

04/10/2023

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