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2022-11-30-accounts

Charity registration number 1195125

Company registration number 12998042 (England and Wales)

COLLATERAL GLOBAL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

COLLATERAL GLOBAL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J B Farha
Ms S Gupta
Dr J Bhattacharya
Professor T Green
Professor E Townsend
Secretary Farha Secretaries Ltd
Charity number 1195125
Company number 12998042
Principal address 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Registered office 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Independent examiner F J Wilde FCCA MBA DChA
Warner Wilde
4 Marigold Drive
Bisley
Surrey
GU24 9SF
Bankers C. Hoare & Co.
37 Fleet Street
Temple
London
EC4Y 1BT

COLLATERAL GLOBAL

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 13

COLLATERAL GLOBAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2022

The trustees present their annual report and financial statements for the year ended 30 November 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 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 charity’s objects as set out in the Articles are specifically restricted to the following:

The trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the Charity should undertake.

The Charity has undertaken three main activities:

The central purpose has been to raise public understanding through research, communication, and public engagement.

Achievements and performance

Collateral Global has commissioned and published reports on the following topics: childhood mental health, pollution, university students’ mental health, care homes, PCR testing, and accuracy of death reporting.

A key objective of Collateral Global is communication, and alongside these reports we have produced several articles and other media aimed at communicating our findings and providing measured description and discussion of some of the key issues. In addition to summary descriptions of content published with each report, each C ollateral Global Report includes accompanying content such as interviews, editorials, or explainers to help better communicate report findings.

In addition, each report has received substantial press coverage in a range of reputable UK publications.

Financial review

The charity is in a strong financial position, having raised substantial funds to finance ongoing operations, both from foundations and individual donors.

The reserves at the year end stood at £249,967, with over £250k of cash reserves in hand.

The charity's principal sources of funds are donations from foundations and other charities, as well as donations from individual members of the public.

COLLATERAL GLOBAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

Structure, governance and management

The Charity is a company limited by guarantee . It was incorporated on 4 November 2020 and registered as a charity on 9 July 2021.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A O H Caccia (Resigned 31 March 2023)

Mr J B Farha Ms S Gupta Dr J Bhattacharya Professor T Green Professor E Townsend

Trustee recruitment starts from a skills perspective to ensure the charity is seeking people with different and varied skills that supported the charity's vision and aims. A detailed role description, desired levels of experience and values statement is to be signed by all trustees. New trustees are approved via vote of existing trustees.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £ 1 in the event of a winding up.

The trustees' r eport was approved by the Board of Trustees.

.............................. Ms S Gupta Trustee

Date: ............................................. 28th August 2023

COLLATERAL GLOBAL

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLLATERAL GLOBAL

I report to the trustees on my examination of the financial statements of Collateral Global (the Charity) for the year ended 30 November 2022.

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

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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.

F J Wilde FCCA MBA DChA

Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF

Dated: ......................... 29th August 2023

COLLATERAL GLOBAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
374,353
14,000
Investments
4
162
-
Other income
5
-
-
Total income
374,515
14,000
Expenditure on:
Charitable activities
6
193,093
-
Net income for the year/
Net movement in funds
181,422
14,000
Fund balances at 1 December 2021
54,545
-
Fund balances at 30 November 2022
235,967
14,000		 Total Unrestricted
funds
2022
2021
£
£
388,353
371,826
162
-
-
100
388,515
371,926
193,093
317,381
195,422
54,545
54,545
-
249,967
54,545

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.

COLLATERAL GLOBAL

BALANCE SHEET

AS AT 30 NOVEMBER 2022

Notes
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Income funds
Restricted funds
12
Unrestricted funds		 2022
£
4,500
257,582
262,082
(12,115)		 £
249,967
14,000
235,967
249,967		 2021
£
4,712
66,501
71,213
(16,668)		 £
54,545
-
54,545
54,545

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on ......................... 28th August 2023

.............................. Ms S Gupta Trustee

Company registration number 12998042

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

1 Accounting policies

Charity information

Collateral Global is a private company limited by guarantee incorporated in England and Wales. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

1.1 Reporting period

The accounts cover the period from incorporation to the 30 November 2021, a period of 1 year and 26 days.

1.2 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3 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.

1.4 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.

1.5 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.

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.

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

1 Accounting policies

(Continued)

1.6 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.

1.7 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.

1.8 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity 's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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 p aymen ts 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.

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

1 Accounting policies

(Continued)

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
94,613
14,000
Grants
279,740
-
374,353
14,000
Donations and gifts
The Georg & Emily Von Opel Foundation
-
-
Luke Johnson
-
-
The King Baudouin Foundation
-
-
RS Furbs Ltd
10,000
-
T Green
-
14,000
Other
84,613
-
94,613
14,000		 TotalUnrestricted
funds
2022
2021
£
£
108,613
300,965
279,740
70,861
388,353
371,826
-
130,000
-
10,000
-
94,275
10,000
-
14,000
-
84,613
66,690
108,613
300,965

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

3
Donations and legacies
Grants receivable for core activities
Donor Trust
The King Baudouin Foundation
The Mackintosh Foundation
RSF Social Finance
4
Investments
Interest receivable
5
Other income
Other income		 -
157,597
5,000
117,143
279,740		 (Continued)
-
-
70,861
-
157,597
-
-
5,000
-
-
117,143
-
-
279,740
70,861
Unrestricted
Total
funds
2022
2021
£
£
162
-
TotalUnrestricted
funds
2022
2021
£
£
-
100

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

6 Charitable activities

Charitable
Charitable
Expenditure
Expenditure
2022
2021
£
£
Staff costs 42,363
9,240
Website and Content Management 10,549
97,190
Research Costs 71,156
75,531
Media Creation 13,805
53,289
Consultants 34,518
56,798
Other Direct Charitable Expenses 379
2,618
IT Software and Consultancy 565
10,286
Conferences and Events 3,924
-
177,259
304,952
Share of support costs (see note 7) 13,151
10,331
Share of governance costs (see note 7) 2,683
2,098
193,093
317,381

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

7 Support costs

Support
costs
Governance
costs
£
£
Advertising and
Marketing
-
-
Bank Fees
1,173
-
Miscellaneous Expenses
2,155
-
Professional Fees
-
-
Printing, Postage and
Stationery
2,929
-
Telephone and Internet
900
-
Insurance
211
-
Travel
633
-
Subscriptions
5,150
-
Independent Examiner's
Fees
-
1,602
Accountancy fees
-
1,081
13,151
2,683
Analysed between
Charitable activities
13,151
2,683		 2022
Support
costs
Governance
costs
£
£
£
-
4,920
-
1,173
818
-
2,155
1,918
-
-
1,216
-
2,929
1,459
-
900
-
-
211
-
-
633
-
-
5,150
-
-
1,602
-
1,440
1,081
-
658
15,834
10,331
2,098
15,834
10,331
2,098		 2021
£
4,920
818
1,918
1,216
1,459
-
-
-
-
1,440
658
12,429
12,429

Governance costs includes payments to the Independent Examiner of £1602 (2021: £1440) for accounts preparation and independent examination.

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:

2022 2021
Number Number
1 1

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

9
Employees
Employment costs
Wages and salaries
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
10
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
11
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 (Continued)
2022
2021
£
£
41,763
9,240
600
-
42,363
9,240
2022
2021
£
£
4,500
-
-
4,712
4,500
4,712
2022
2021
£
£
437
2,670
-
7,030
4,164
2,751
7,514
4,217
12,115
16,668

12 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement
in funds in funds
Incoming Balance at Incoming Balance at
resources 1 December resources 30 November
2021 2022
£ £
£		 £
Conference 2023 - -
14,000		 14,000

Conference 2023: Donations towards the organisation of a UK conference on the impact of covid restrictions.

COLLATERAL GLOBAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

13
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 30 November 2022 are
represented by:
Current assets/(liabilities)
249,967
-
249,967
-		 TotalUnrestricted
funds
2022
2021
£
£
249,967
54,545
249,967
54,545

14 Related party transactions

There were no disclosable related party transactions during the year .