
**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. 

1 




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. 

2 




World Connect applies the following principals in its grantmaking: 

1. 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. 

2. Direct and Quick Investment 

- Funding brings change and the quick movement of resources creates momentum. 

- 3. Accountability 

   - Communities receiving a grant from World Connect will contribute their own cash and in-kind investments in their projects. 

4. 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: 

1. The prevention or relief of poverty by providing grants to individuals, charities, or other organizations working to relive poverty. 

2. The advancement of education by providing grants to individuals, charities, or other organizations working to advance education. 

3. 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. 

3 




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 

4 




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



## **Section A Receipts and payments** 

|**A1 Receipts**|**Unrestricted**<br>**funds**<br>**to the nearest      £**<br>**34,894**<br>**1,000**<br>**36**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**35,930**<br>**-**<br>**-**<br>**-**<br>**35,930**<br>**-**<br>**300**<br>**64**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br> **364**<br>**-**<br> **-**<br>**364**<br>**35,566**<br>**-**<br>**-**<br>**35,566**|**Restricted**<br>**funds**<br>**to the nearest £**<br>**41,000**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**41,000**<br>**-**<br>**-**<br>**-**<br>**41,000**<br>**10,513**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**10,513**<br>**-**<br>**-**<br>**-**<br>**10,513**<br>**30,487**<br>**-**<br>**-**<br>**30,487**|**Endowment**<br>**funds**<br>**to the nearest £**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|**Total funds**<br>**to the nearest £**<br>**75,894**<br>**1,000**<br>**36**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**76,930**<br>**-**<br>**-**<br>**-**<br>**76,930**<br>**10,513**<br>**300**<br>**64**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**10,877**<br>**-**<br>**-**<br>**-**<br>**10,877**<br>**66,053**|**Total funds**<br>**to the nearest £**<br>**75,894**<br>**1,000**<br>**36**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**76,930**<br>**-**<br>**-**<br>**-**<br>**76,930**<br>**10,513**<br>**300**<br>**64**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**10,877**<br>**-**<br>**-**<br>**-**<br>**10,877**<br>**66,053**|**Last year**<br>**to the nearest £**|
|---|---|---|---|---|---|---|
|Donations|**34,894**|||||**-**|
|Seed funding|**1,000**|||||**-**|
|Bank interest|**36**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
|**_Sub total_**_(Gross income for_<br>_AR)_|**35,930**|||||**-**|
||||||||
|**A2 Asset and investment sales,**<br>**(see table).**|||||||
||**-**||||||
||**-**|||||**-**|
|**_Sub total_**|**-**|||||**-**|
|**_Total receipts_**<br>**A3 Payments**|||||||
|||||||**-**|
||||||||
|Field agent fees|**-**|||||**-**|
|Audit and accountancyfees|**300**|||||**-**|
|Bank fees|**64**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
||**-**|||||**-**|
|**_Sub total_ **|**364**|||||**-**|
||||||||
|**A4 Asset and investment**<br>**purchases, (see table)**|||||||
||||||||
||**-**||||||
|**_Sub total_ **|**-**|||||**-**|
|**_Total payments_**<br>**_Net of receipts/(payments)_**<br>**A5 Transfers between funds**<br>**A6 Cash funds last year end**<br>**_Cash funds this year end_**|||||||
|||||||**-**|
||||||||
||**35,566**|**30,487**|**-**|**66,053**||**-**|
||**-**|**-**|**-**|**-**||**-**|
||**-**|**-**|**-**|**-**||**-**|
||**35,566**|**30,487**|**-**|**66,053**||**-**|



CCXX R1 accounts (SS) 

03/10/2023 

51 



|**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**<br>Signed by one or two trustees on<br>behalf of all the trustees<br>**B1 Cash funds**<br>**B2 Other monetary assets**<br>**B4 Assets retained for the**<br>**charity’s own use**<br>**B5 Liabilities**<br>**B3 Investment assets**|Signature<br>Creditors<br>**Details**<br>**Details**<br>Bank balances<br>**Details**<br>**Details**<br>**_Total cash funds_**<br>(agree balances with receipts and payments<br>account(s))<br>**Details**<br>Christopher Cabot (Oct 4, 2023, 3:29pm)<br>Chris Cabot|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**to nearest £**<br>**to nearest £**<br>**35,566**<br>**30,487**<br>**-**<br>**-**<br>**-**<br>**-**<br>**35,566**<br>**30,487**<br>OK<br>OK<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**to nearest £**<br>**to nearest £**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**Fund to which**<br>**asset belongs**<br>**Cost (optional)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**Fund to which**<br>**asset belongs**<br>**Cost (optional)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**Fund to which**<br>**liability relates**<br>**Amount due**<br>**(optional)**<br>Restricted<br>**16,862**<br>**-**<br>**-**<br>**-**<br>**-**<br>Print Name<br>**Christopher Cabot**|**Endowment**<br>**funds**<br>**to nearest £**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||OK|
||||**Endowment**<br>**funds**<br>**to nearest £**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**<br>**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**<br>**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**When due**<br>**(optional)**|
|||||
|||||
|||||
|||||
|||||
|||||
||||Date of<br>approval|
||Chris Cabot|**Christopher Cabot**|04 Oct 2023|
||Christopher Cabot (Oct 4, 2023, 3:29pm)|||



CCXX R2 accounts (SS) 

04/10/2023 

62 



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