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2024-12-31-accounts

WORLD CONNECT INTERNATIONAL, UK TRUSTEES’ REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2024 CHARITY NUMBER: 1194944

Reference and administrative information

Trustees

The Duke of Bedford, Andrew Ian Henry Russell Hafsat Abiola

Christopher Cabot (stepped down from Chair of Trustees position on 28 October 2024) Emmanuelle Lepic Esme Lovell Smith Ilia Tchelikidi Sarah Caplin Joanne Lankester (resigned 14 February 2025) Kemal Ahmed (appointed 22 September 2024) Kristina Kenworthy (appointed 22 September 2024) Stephanie Cabot (appointed 28 October 2024 and assumed role of Chair of Trustees) Sarah Boillot (appointed 14 February 2025)

Chief Executive Officer

Patrick J. Higdon

Principal Office

24 Old Bond Street, London, W1S 4AP, United Kingdom

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

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Objectives and activities for the public benefit

World Connect International, UK invests directly in the ideas of local leaders who are best positioned to drive selfsustaining development in their communities. This is achieved through World Connect’s grantmaking program. Progress in global development requires local communities to own the ideas that transform life as it is, improving health, education, and economic opportunity.

In 2024, World Connect directly invested £74,290 in grant funding. Grant funding was provided to 16 community-based organisations in Malawi, Ecuador and Ghana, of which a total of £41,310 was provided to nine communities in Malawi, a total of £26,967 was provided to six communities in Ecuador, and £423 to one community in Ghana. An additional £5,590 was granted to World Connect Rwanda to fund a training workshop for a new cohort of Rwandan grantees. Community projects were based in agriculture training and conservation in rural areas with a focus on women collectives, educational development, and structural renovations and enhancements to school and medical facilities.

World Connect applies the following principals in its grantmaking:

1. Trust in Local Leaders

4. Scale

World Connect International UK believes that sustainable global progress is more effective when the power inside communities is activated. World Connect activates power inside communities by co-investing with communities to advance progress on their terms. The result of this co-investment model is a more effective, cost-efficient, and high impact development paradigm that addresses urgent inequities worldwide. The future of development is in activating insider power, with the role of outsiders being to activate new power centers to grow and sustain independently.

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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 relieve 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.

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 objectives 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 including 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 a grant from World Connect will follow the reporting and monitoring requirements set forth by the charity.

Financial review

In 2024, World Connect International UK received donations from its board, a corporate partner, and individuals. The charity received third-year funding from a three-year donor pledge to support the World Connect Ecuador program, and a one-time grant from its corporate partner to fund a grantee training workshop in Rwanda. In January 2024, the organization held an event in Paris, France and raised £91,705, net of expenses. World Connect, Inc., a US 501(c)3 in the United States, gave a grant of £71,482 to World Connect International UK.

To support its fundraising efforts, World Connect International UK has memberships with Chapel & York Foundation, Transnational Giving Europe, Fondation de France, and King Baudouin Foundation to administer cross-border donations from the United States, France, and Belgium. These memberships allow donors to receive tax benefits in the country where they reside, while allowing them to give to World Connect International UK.

World Connect International UK has one employee who serves as the Executive Director and Global Program Director. In addition to payroll and grants, the charity’s other larger expenses included event expenses, outsourced accounting and payroll processing, and an increase in fees related to membership-based fundraising.

During the year, the charity made a surplus of £53,570 (2023: (£59,034)). Total funds as at 31 December 2024 were £41,519 (2023: (£12,051)) of which £38,109 (2023: (£19,051)) were unrestricted and £3,410 (2023: £7,000) were restricted.

The cash position on 31 December 2024 was £47,901, with donations receivable of £16,577. Liabilities include grants payable of £17,758.

World Connect currently does not have a reserves policy in place. The organization will continue to grow its revenues to support its grant program, cover its operational costs and establish a reserve.

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Plans for the future

In the forthcoming years, the Trustees and Executive Director will commit to deepening the engagement with the UK and European 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.

Trustees’ responsibilities in relation to financial statements

The Charity’s Trustees are responsible for the preparation of Trustees’ Report and the financial statements in accordance with the requirements of the Charities Act 2011. The Charity’s Trustees consider that the charity does not meet the statutory requirement for an audit this period under the Charities Act 2011, nor does it meet the threshold for an independent audit examination.

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report has been prepared in accordance with the General Directions given by the Charities Commission under Section 145(5)(b) of the Charities Act 2011.

For and on behalf of the Board of Trustees

S Cabot (Sep 22, 2025, 7:11pm) Stephanie Cabot Chairperson

22 Sep 2025

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WORLD CONNECT INTERNATIONAL, UK

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF WORLD CONNECT INTERNATIONAL, UK FOR THE YEAR ENDED 31 DECEMBER 2024

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 7 to 16

Your attention is to drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

We understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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 accounts to be reached.

Aaron Widdows ACA FCCA Price Bailey LLP, Chartered Accountants

Anglia House, 6 Central Avenue St Andrews Business Park Thorpe St Andrew Norwich, Norfolk NR7 0HR

Date: 23 September 2025

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WORLD CONNECT INTERNATIONAL, UK

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
INCOME
Donations, grants and legacies
2
Investment income
3
TOTAL INCOME
EXPENDITURE
Expenditure on charitable activities:
4
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
BEING NET MOVEMENT IN
FUNDS FOR THE YEAR
Transfers
Total funds at 1 January
10
TOTAL FUNDS 31 DECEMBER
10
Unrestricted
Funds 2024
£
266,043
70
Restricted
Funds 2024
£
43,964
-
Total Funds
2024
£
310,007
70
Total Funds
2023
£
134,969
63
266,113 43,964 310,077 135,032
(208,953) (47,554) (256,507) (194,066)
(208,953) (47,554) (256,507) (194,066)
57,160
-
(19,051)
(3,590)
-
7,000
53,570
-
(12,051)
(59,034)
-
46,983
38,109 3,410 41,519 (12,051)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

The notes on pages 9 to 16 form part of these financial statements.

WORLD CONNECT INTERNATIONAL, UK

BALANCE SHEET AS AT 31 DECEMBER 2024

CURRENT ASSETS
Notes
Debtors: Amounts due within one year
7
Cash at bank and in hand
Creditors: Amounts due within one year
8
NET CURRENT ASSETS / (LIABILITIES)
TOTAL ASSETS LESS TOTAL LIABILITIES
Unrestricted funds
10
Restricted funds
10
TOTAL FUNDS
2024
£
16,916
47,901
64,817
(23,298)
41,519
41,519
38,109
3,410
41,519
2023
£
14,647
53,441
68,088
(80,139)
(12,051)
(12,051)
(19,051)
7,000
(12,051)

22 Sep 2025

The financial statements were approved by the Trustees on and are signed on their behalf by:

~~………………………………~~ S Cabot (Sep 22, 2025, 7:11pm) Stephanie Cabot

(Chair)

The notes on pages 9 to 16 form part of these financial statements.

WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES

General information

World Connect International, UK is a charitable incorporated organisation, registered in the United Kingdom under the Charities Act 2011. The principal address is 24 Old Bond Street, London W1S 4AP, United Kingdom.

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 £.

Basis of preparation

The financial statements have been prepared in accordance with the relevant version of the 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) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ 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 relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

World Connect International, UK 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 note(s).

The charity, being small in size, has used the exemption provided by Charities SORP (FRS 102) under which it is not required to include a cash flow statement as part of the financial statements.

Going concern

The Trustees have considered the ongoing activities of the Charity and its ability to meet its obligations. There was a large surplus in the current year with plans to increase corporate and individual income by the board. Additionally, the Trustees continue to pursue new fundraising opportunities and ongoing support as the Charity and Board of Trustees matures from a newly established entity.

As a result, the Trustees assessment is that World Connect International, UK will remain a going concern of 12 months from the date of approval of these accounts.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance 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 aim and use of each restricted fund is set out in the notes to the financial statements.

WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

ACCOUNTING POLICIES (continued)

Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income is received by the way of donations and is included in full in the Statement of Financial Activities when receivable. Grants are recognised in full in the Statement of Financial Activities in the year which they are receivable.

Income from investments are recognised when receivable.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes that which relates directly to fulfilling the charitable objectives of the Charity, as outlined in the Trustees' Report.

Debtors and creditors receivable / payable within one

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Creditors are recognised when the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.

Cash at bank and in hand

Cash at bank and in hand includes cash held in bank accounts. There are no short term investments.

Pensions

The Charity provides a defined contribution pension scheme, whereby the Charity and its staff each fund the scheme, managed by a third party provider, the assets of which are held by the provider separately from the assets of the Charity. The pension charge in the financial statements represents the amounts payable by the charity to the fund in respect of the period.

Taxation

The Charity is exempt from taxation in respect of income and capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to the charitable purposes.

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WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

ACCOUNTING POLICIES (continued)

Financial instruments

The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their at their settlement value as at the balance sheet date. All financial instruments of the charity are measured at cost.

Judgements and key sources of estimation uncertainty

In the application of the Charity's accounting policies, which are described above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 those estimates.

The Trustees do not consider that there are any critical judgements or sources of estimation uncertainty in the financial statements.

2 DONATIONS, GRANTS AND LEGACIES

Donations
Donations in kind
Grants
Donations
Donations in kind
Grants
Unrestricted
2024
£
194,561
-
71,482
266,043
Unrestricted
2023
£
42,776
-
21,495
64,271
Restricted
2024
£
40,168
3,796
-
43,964
Restricted
2023
£
45,923
24,775
-
70,698
Total
2024
£
234,729
3,796
71,482
310,007
Total
2023
£
88,699
24,775
21,495
134,969

Donations in kind of £3,796 (2023 - £24,775) relate to pro-bono legal work (2023 - legal costs).

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WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3 INVESTMENT INCOME

Bank interest
Bank interest
4
EXPENDITURE ON CHARITABLE ACTIVITIES
Wages and salaries
Social security costs
Pension costs
Employee benefits
Bank fees
Accountancy fees
Grants paid
Professional fees
Field agent contracts
Co working membership
Insurance
Event costs
Platform fee
Advertising
Travel
Administration costs
Unrestricted
2024
£
70
Unrestricted
2023
£
63
Total
2024
£
123,120
9,826
997
3,621
5,068
10,671
74,290
3,796
-
476
590
21,014
-
908
1,252
878
256,507
Total
2024
£
70
Total
2023
£
63
Total
2023
£
96,426
7,261
1,425
1,744
484
12,082
43,277
24,775
3,316
1,314
419
1,043
500
-
-
-
194,066

Total expenditure was £256,507 (2023: £194,066) of which 47,554 (2023: 77,323) was restricted and 208,953 (2023: £116,743) was unrestricted.

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WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Analysis of grants payable:
Ecotourism Association of Yamaram Jintial Tayu Jee
Fundacion Kyllkay
Chief and Elders Council
Fellows for Change
Parent Teacher Association of Bethel School Comples
Red Intercultural de Semillas
Cultivando el Futuro
SMC Asaman
Teen Talk Ghana
Asociacion RAFALEX
Plaza Gutierrez Women's Entrepreneurial Collective
Kafanikhale Village Development Committee
Chiponda Village Development Committee
Masimbe Village Development Committee
Chikudzo Village Development Committee
Zingani Village Development Committee
Chinkanda Village Development Committee
Chiundira Village Development Committee
Mndembo Village Development Committee
Chimombo Village Development Committee
World Connect Rwanda
Making Crafts with Recycled Materials
Mitigating Climate Change in Peguche
MURU Kichwa Network of Organic Farmers and Producers
Dairy Plant Project for the Farmers of Guayabillas Community
Entrepreneurship Center in Support of Ancestral Education
Interior and Exterior Adaptation of La Bocatoma Housing Modules
5
STAFF COSTS
Wages and salaries
Social security costs
Pension costs
The average number of employees during the year was as follows:
Employees
2024
£
-
-
-
-
-
-
-
-
423
-
-
4,561
4,574
3,161
5,542
4,906
4,628
4,576
4,817
4,545
5,590
4,871
4,873
4,889
3,984
4,109
4,241
74,290
2024
£
123,120
9,826
997
133,943
2024
No.
1
2023
£
3,564
3,022
3,348
3,896
3,956
4,835
4,182
4,691
2,946
4,001
4,836
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
43,277
2023
£
98,170
7,261
1,425
106,856
2023
No.
1

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WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5 STAFF COSTS (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

was:
In the band £90,001 to £100,000
In the band £140,001 to £150,000
2024
No.
-
1
1
2023
No.
1
-
1

The key management personnel of the charity are the Trustees and the Chief Executive Officer. The pay and benefits (including employer pension contributions) of the Key Management Personnel were £137,564 (2023 - £106,856).

In their roles as Trustees, the Trustees give their time and expertise freely without any form of remuneration or other benefit in cash or kind.

During the year ended 31 December 2024, expenses totalling £254 were reimbursed or paid directly to one trustees (2023 - none). The amount related to event costs for an event held during the year.

6 INDEPENDENT EXAMINER'S REMUNERATION

6
INDEPENDENT EXAMINER'S REMUNERATION
Independent examination fees
7
DEBTORS
Prepayments and accrued income
8
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Grants payable
Trade creditors
Accruals
Deferred income
Other creditors
9
DEFERRED INCOME
Deferred income brought forward
Resources deferred during the year
Amounts released from previous years
Fees payable to the Charity's Independent Examiner in respect of other
services
2024
£
2,460
10,671
2024
£
16,916
2024
£
17,758
306
4,977
-
257
23,298
2024
£
35,892
-
(35,892)
-
8,211
2023
£
2,340
5,601
7,941
2023
£
14,647
2023
£
39,715
-
4,532
35,892
-
80,139
2023
£
-
35,892
-
35,892

Deferred income relates to income received in advance for events held after the year.

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WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

**10 ** STATEMENT OF FUNDS
2024
Brought
Income
Expenditure
Transfers
forward
£
£
£
£
UNRESTRICTED FUNDS
General funds
(19,051)
266,113
(208,953)
-
RESTRICTED FUNDS
Individual donor
-
38,168
(38,168)
-
Retail Value
7,000
2,000
(5,590)
-
Donations in kind
-
3,796
(3,796)
-
7,000
43,964
(47,554)
-
Total
(12,051)
310,077
(256,507)
-
2023
Brought
Income
Expenditure
Transfers
forward
£
£
£
£
UNRESTRICTED FUNDS
General funds
33,358
64,334
(116,743)
-
RESTRICTED FUNDS
Individual donor
13,625
38,923
(52,548)
-
Retail Value
-
7,000
-
-
Donations in kind
-
24,775
(24,775)
-
13,625
70,698
(77,323)
-
Total
46,983
135,032
(194,066)
-
Restricted fund
Description
Individual donor
Three-year pledge made in 2022 to support programs in Ecuador.
Retail Value
Grant to support the World Connect Rwanda's Leadership Summit.
Donations in kind
Legal work done by a firm pro-bono.
Carried
forward
£
38,109
-
3,410
-
3,410
41,519
Carried
forward
£
(19,051)
-
7,000
-
7,000
(12,051)

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WORLD CONNECT INTERNATIONAL, UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current assets
Creditors due within one year
Current assets
Creditors due within one year
Unrestricted
Funds
2024
£
61,407
(23,298)
38,109
Unrestricted
Funds
2023
£
(14,519)
(4,532)
(19,051)
Restricted
Funds
2024
£
3,410
-
3,410
Restricted
Funds
2023
£
82,607
(75,607)
7,000
Total
Funds
2024
£
64,817
(23,298)
41,519
Total
Funds
2023
£
68,088
(80,139)
(12,051)

12 PENSION COMMITMENTS

The charity operates a defined contribution pension scheme. The assets of the schemes are held separately from those of the charity in independently administered funds. The total pension cost charge represents contributions payable by the charity to the funds and amounted to £997 (2023 - £1,425). There were £257 pension commitments outstanding and included in creditors at the end of the year (2023 - £nil).

13 RELATED PARTIES

There were no related party transactions (2023: none).

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