WCCF Ltd
World Cities Culture Forum (company no.: 13804618. charity no.: 1204602)
Forthe Year ended 31 March 2024
WORLD
CITIES
CULTURE
FORUM
Annual Report
and Independent Examination of
Financial Statements
For the year ended 31 March 2024
WCCF Ltd
Company Number 13804618
Charity Number: 1204602
IIN
"ADVSOfft*
0212025
COMPANIES HIXJSE
A10
#160

WCCF Ltd
World Cities Culture Forum (company no.: 13804618. charity no.: 1204602)
Forthe Year ended 31 March 2024
Contents
Reference and administrative information
Trustees. annual report
Independent Examiner's Report
18
Statement of f inancial activities (incorporating an income and expenditure
account)
Balance sheet
20
Statement of cash flows
21
Notes to the financial statements
22

WCCF Ltd
World Cities Culture Forum {¢ompany no.: 138¢)4618. charity no.: 1204602)
For the Yearended 31 March 2024
Reference and administrative information
Company number:
13804618
Country ot incorporation..
Unired Kingdom
Charitynumber:
1204602
Country of registration:
England & Wales
Registered office:
CityHall. Kamal Chunchieway.
London. England. E16 1ZE
Trusiees:
Trustees, who are also (Jirectors under company law. who served duringthe year and up to
the date ofthis reportwere as follows:
Mr Jeff rey Jacobs
{Chaii of Trustees)
Dr Kevin Austin
(rreasurerl
Ms Lillianne Halfpenny
Key management personnel:
Ms Laia Gasch
(Executive Director)
Bankers:
The Co-operative Bank PIC
PO Box 101. 1 Balloon Street.
Manchester, M60 4EP
Accountants:
Kreston Reeves LLP.
2nd Floor.168 Shoreditch High Street.
London. E1 6RA
Independent Examiner:
Sirnon Goodridge FCA
Knox Cropper LLP
65-68 Leadenhall Street,
Lonoon. EC3A 2AD

WCCF Ltd
World Cities Culture Forum (Company no.: 13804618, ¢haiity no.: 12046021
Forthe Yearended 31 March 2024
The Trustees Annual Report
The Trustees present their report and financial statements for the year ended 31 March 2024.
Reference and administrative information set out on page 1 torms part of this report. The
financial statements comply with current statutory requirements, the memorandum an(J
articles of association, the requirements of a directors. report as required under company
law. and the Statement of Recommended Practice- Accountingand Reportingbycharities..
SORP applicable to charities preparing their accounts in accordance with FRS 102.
Since the Charitable Company qualifies as small under section 383. the strategic report
required of mediurn and Large companies under the Companies Act 2006 (Strategic Report
and Director's report) Regulations 2013 is not required within the first ten months of Charity
Registration. Therefore. the report of the Trustees has been prepared in accordance viith the
special prowsions applicable to companies subject to the small companies. regime.
Our Purpose:
World Cities Culture Forum was founded in 2012 to coincide with the London Olympic
Games. Initially. 12 global cities convene(I with a focus on joint research. sharing common
challenges, and learning from one another.
Since then. Wortd Cities Culture Forum I"WCCF-} has grown into a global network of over
40 creative cities I"Partner Citles") representing over 270m citizens. With a shared belief
thatwe can achieve more byworkingtogerher and beinggenerouswith ideas. we share best
practice and design cultural policies to benefit all aspects of city life.
WCCF supports civic leadership and champions culture as an essential driver for the social
and economic success of fair and sustainable cities. Our vision is to build a world where
culture is at the hean of thriving cities and sustainable communities. We believe in the
power of culture to transform lives and places and Tecognise that collaboration drives
change at scale.

WCCF Lld
World Cities Culture Forum (company no.: 13804618. ¢h8rlty no.: 1204602)
For the Year ended 31 March 2024
Following a governance review in 2020. the Partner Cities recommended that the WCCF
project be eslablished as a charitable independent entity.
In December 2021. WCCF was set up as an independent charitable body. wtth the transfer
of allWCCF assets and intellectual propertyintoWCCF Ltd.
Ourwision
We are building a world where culture is at the heart of thriving cities.
Our Mission
We are civic leaders sharing our best ideas 8nd designing culture policies that change
lives. World Cities Culture Forum is a network of more than 40 global cities spanning six
continents. Together. we are meeting the challenges of the 21st century by placing
culture atthe heart of city planning and investment.
Our Values
We believe in the power of culture to transform people, place and planet. We empower
global civic leaders to create the equitable. prosperous and sustainable global cities of
the future. We are generous with our ideas and collaborate to drive change.
Objectives and activities:
The Trustees reviewthe aims. objectives and activities of the Charity each year. This report
looks atwhatthe Charity has achieved and the outcomes ofits work in the reporting period.
The Trustees report on the success of each key actiwty and the benefits the Charity has
brought to its key beneficiaries. The review also helps the Trustees ensure the Charity's aims,
objectives and activities remain focused on its stated purposes.
The Trustees have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewingthe Charitys aims and objectives and in planning
its future activities. In particular. the Trustees consider how planned activities contribute to
the aims and obje¢tivesthat have been set.
Ourcharitable Objectives:
To develop and improve the knowledge. understanding, practice and support ofthe arts
and culture in cities worldwide by educating city leaders and policy makers to empower
them to enhance Cultural infrastructure and access to the arts forthe pubtic benefit. and

WCCF Ltd
Wortd Cities Culture Forum (company no.: 13804618, charity no.: 1204602)
Forthe Year ended 31 March 2024
To promote the study and research of the role that arts and culture in cities worldwide
can play in promoting sustainable development and social development, provided that
the results and application ot such study and research are disseminated to the public at
large.
Beneficiaries of our $eNi¢es:
WCCF is a UK based charitable organisation. Our beneficiaries are the citizens of our Partner
Cities Icirca. 270m million people) who benefit from evi(Jence-based policy, improved
leadership. sharing of best practices and collaborations across cities. WCCF helps to scale
policies across cilies world-wide. creating efficiencies and fast tracking the best urban
solutions.
The majority of WCCF'S output is available free to the wider public and therefore WCCF
activities and thought leadership also seNes cities beyond Partner Cities.
Ail research and all insights generated through the activityofthe charity of WCCF are made
available to the public and published on the website.
Achievements & Performance
World Cities Culture Forum advances education in the field of the knowledge.
understanding. practice and support of the arts and culture in cities. All WCCF education
and leadership training actiwties aim to enhance cultural infrastructure in cities including
museums. theatres, music venues. cinemas. and production spaces for the public benefit.
WCCF also aims io enhance access io the ans for all cilizens by promoting policies that
encourage participation and equitable access. By providingeducation and learning services
to Partner Cities, including professional development and knowledge sharing opportunities
we support and growcivic leadersfor culture.
Progress against WCCF Education Object
To develop and improve the knowledge. understandin& practice an¢Y support ofthe arts
and culture in citiesworldwi.de by educating city leaders and policy makersto empower
them to enhance cultural intrastructure and access to the arts for the public benefit-
Activity 1- WCCF Leadership Exchange Programme
WCCF supports city collaborations through a leadership exchange between cities with the
aim of undertaking field iesearch about 8 specific area or sutr)ject and finding practical

WCCF Ltd
World Cities Culture Forum l¢ompany no.: 13804618. charlty no.: 1204602}
Forthe Year ended 31 March 2024
solutions and learningsfrom seniorpeersacro$sthegiobe.WCCFsupportsthis byproviding
grants to Partner Cities to undertake field research trips.
The programme has an open application process for Partner Cities with an internationaljury
that selects the winning bids against a set criterion lunder the supeNision of the Trustees).
Agrant agreement betweenWCCFand the successtulcities is drawn up with outcomes and
elivery timeline and an independent evaluation is commissioned to assess the impact OY
the programme.
WCCF has supported 11 city exchanges as part of the Leadership Exchange Programme.
offering professional development and knowledge sharing between cities tackling
important Ghallenges including-
Improving access to culture for citizens
Growing affordable creative space
Supportingartists through new funding models
Supportingcultural organisations to be more sustainable
WCCF commissioned an independent evalualion of the Leadership Exchange Programme
and published an impact report in November 2023: Leadership Exch8nge Progr8mme
Impact Report2023.
The impact report highlights the tangible outcomes that the Leadership Exchange
Programme has had on cultural policy and programmes in cities around the world.
supporting creativity and cultural expression.
Oulcomes include-
1. Accelerated new policies to protect attoTdable workspace for creatNes in London,
Austin, Sydney8nd Amsterdam.
2. Leveraged city funding for inf(iarives to engage and represent indigenous and first
nation cultures in Sydney and Toronto.
3. Replicated successful models to decentralise culture. celebrate neighbourhoods
and take artto people's doorstep in London and Buenos Aires, Montrealand Lisbon.
4. Fast tracked innovative policies in Newyork and London to contribute to zero-waste
and to protect culture at risk.

WCCF Ltd
World Cities Cultvre Forum (company no.: 13804618. charity no.: 12046021
For the Year ended 31 March 2024
5. Shared different approaches to Colle￿ and use data on the city's cultural
inlrastructure in Amsterdam. Austin. Barcelona. Chengdu. London. Los Angeles.
Milan, Montreal, and Stockholm.
6. Replicated and built on policies to protect culture 8t risk in Newyork usinga tried and
tested initiative from London.
11
82/
22
77/
185
80/
15
59/
The learnings from the Leadership Exchange Programme and the Impact Report are
available to all members ofthe public on the WCcFv￿bSlte.
A¢tlvity2-TheWCCFAnnualSummit
WCCF organises an annual event bringing together senior leaders from Partner Cities. The
three -day World Cities Culture Summit has been described as 8 'maste¥class in cultural
policy. and involved plenaries. workshops and panels. The annual Summit allows city
leaders to share ideas ano best practice to implement effective F)olicies enhancing the role
of culture for ihe public benefit.
The WCCF Summit helps scale policies acTOSS Clties wor1dV￿de. creating efficiencies arKI
fasttrackingthe best urban solutions usingculturefor sustainable economic prosperity and
social development.
The 2023 Summit was hosted by the City of Sao P8ulo in October. A programme including
three plen8ry$essions. 10 panels and 16workshops was offered to city leaders with topics
addressing pressing issues including how best to protect and grow cultural infrastructure
and enable access to cultural participation for all citizens. Cities helped shape the

WCCF Ltd
World Clties Culture Forum l¢ompany no.: 13804618, charity no.: 1204602)
Forthe Year ended 31 March 2024
programme and at cities request. in 2023, WCCF offered for the first time ever a dedicated
peer to peer session for leaders professional development and a regional Meeting for Asia
Pacific cities.
WCCFcarried outan evaluation ofthe Summitandfeedbackfrom attendees and the overall
rating of their experience was 9.1 110. The survey also showe¢J that. as a result of attending
Ihe Summit..
86% followed up with another city delegate
75% forged new partnerships
42% leveraged additional funding or gained support for a new cultural policy
Some of the attendees feedback included: 'the Summit is unparalleleo in its support to
global cultural practitioners A world stsge to share value of culture and best global
practices.: 'A wtal and relevant Forum from which we learn so much..
The Summit (Jelivers against WCCF education objective, offering city leaders and policy
makers opportunities to improve the knowledge. understanding and best practice to
support culture in cities worldwi(Je for the public benefit.
Since becomingan independent charity. WCCF has delivered three Summits:
Helsinki. Finland on 5-7 October 2022
Sao Paulo Brazil in October 2023
Dubai UAE.2024
For the first time. the learnings from the annual Summit were published and made available
for free to all public through a World Cities Culture Trends Report 2024. The report was
published in J8nuary2024. hascan be downloadedonourwebsite. It has been used bycities
beyond our City Partners to educate and inform leaders and policy-makers on current city
policy trends.
Activity 3-The WCCF Academy
WCCF Academy includes public webinars. led by city speakers and experts. examining
pressing urban challenges and solutions in detail. These are accessible for public benefit.

WCCF Ltd
World Cities Culture Forum (¢ompany no.: 13804618. ¢harfty no.: 1204602)
For the Year ended 31 March 2024
In 2023. WCCF hosted public webinars on=
inclusive Cultural Olympiads-
the future of cultural policy in African cities"
Artificial Intelligence in the Creative Industries:
the Role of Cultural Policy in Shaping Post-COVID Urban Futures.
These webinars are le(J by city experts and attended by a mix of civic leaders. emerging
policy-makers and students. In 2023. public trom across 100 cities attended WCCF online
public webinars.
Overall. WCCF advances education in the field ol the knowledge. understanding. practice
and support of the arts and culture in cities. All WCCF education and leadership training
activities aim to enhance cultural infrastructure in cities including museums. theatres.
music venues. cinemas, and production spaces for the public benefit. WCCF also aims to
enhance access to the arts for all citizens by promoting policies that encourage
participation and equitable access.
Achievements agalnst WCCF'S Research Object
To promote the stULly and research of the role that aris anLI culture in cities worldwide
can play in pTomoting sustainable development and social development, provided that
the results and application of such study an(1 research are disseminated to the public at
large.
Activity 1- The World Citles Culture Report 2022
WCCFpublishesatriennialWortd Citiesculture Report, which is acompendium ofdata and
policy best practice aboLrt culture and world cities. The report showcases City innovative
programmes. ori@nal approaches and responses tothe urban challenges. It also highlights
emerging trends and developing issues.
The World Cities Culture Report 2022 was Launched at the World Cities Culture Summit in
Helsinki.
In the year ending March 2024. the World Cities Culture Report 2022 was published on the
WCCF website. including all available city data which is open source and accessible to the
public. WCCF city data is considered the rnost compreherbsive data on cities and culture
and is used by policy makeis. media and academia. It is the mostvisited part of the WCCF
website.
We are currently leading a digital transformation to support the next edition of the Report,
due in 2025. This is supported by the Bloombeig Philanthropies Digital Accelerator

WCCF Ltd
World Cities Culture Forum l¢ompanyno.: 13804618. ¢harity no.: 1204602)
Forthe Yearended 31 March 2024
Programme and will make our data accessible to even more people and support data-led
policymaking.
Actlvlty 2- Research and Inslghts
WCCF advances and commissions research intothe role that ans and cultufe in cities play
in advancingsustainable economic prosperityand socialdevelopment. WCCFcollaborates
with leading universities and global organisations to provide research to advance the role of
uliure in cities worldwide and promote sustainable economic grovrth and socialprosperity.
All research is available to the public for free on theWCCFwebsite.
In the year ending31 March 2024. WCCF commissioned and published newresearch=
'African Alternatives: the future of Creative cities. in collaboration with the British
Council and Andani.Africa and featuring 12 Sub-saharan African capitals. Research
was disserninated through a public webinar and the Report has the most viewed
report on our website.
World Cities CultureTrends Report2023 outlining 10 emergingtrends on culture in
global cities with case studies from cities around the wori(l.
This builds on WCCF'S body of research. forexample. in the yearending March 2023WCCF
cornmissioned research including:
'Culture with a Social Purpose. with the University of the Arts London IUALI and
(Jisseminated the findings ihrough a report and a public masterclass online
'Cfeatlve Recovery: The Role of Culture Policy in Shaping Post-covid Urban
Futures 2022. research led with Kings College London exploring cultural policies
created during the COVID-19 pandemic an(J providing insights foi future city
resilience. Research was disseminated through a public event.This new research
contributes to the collective knowledge and understanding of the role of culture in
cities worldwide. and how it can play a role in advancing Sustainable economic
prosperity and social development.
Activlty 3- Online resources and newsletter
In January 2023. WCCF launched a new website. The newwebsite is designed as an online
research resource for the public. It published a wide range of city case studies to advance
the knowledge and understanding of the role of culture in cities including in areas like
climate change. health. young people. infrastructure. education and community
engagement.

WCCF Ltd
World Cities Cullure Forum (company no.: 13804618. charity no.: 1204602}
For the Year ended 31 March 2024
The website offers an open resource and a searchable library of case stu(Jies in 45 cities
woildwide. Each case study outlines the challenge. a summary of how the city is
implementing a new solution through cultural policy and highlights the impacl to date.
The WCCF website is attracting newviewers and is growingvisf(ors since January2023.
The WCCF social media strategy also disseminates best practice across global cities and
highlights areas where culture contributes to advancing sustainable economic prosperity
and social development.
In 2023, WCCF developed a quarterly New51etter called The Golden Thread, with currently
over 900 subscriptions to Ihe newsletter is a free resource to the public.
Activity 4- Advocacy
Advocating for the role arts and cultuie play in cities by acting as a resource for research
and best practices in relation to cultural activities in cities. In tis advocacy activities. WCCF
complies with the Charity Commission's guidance on campaigning an¢J political activities.
In the year ending March 2024. WCCF has led the following advocacy activities=
Shared WCCF research findings and insights with several global organsiations
including UNESCO, OECD. Eurocities. G20. British Council.
Launched 'A Goal for Culture.. The Sao Paulo Manifesto. in 2023 supporting
UNESCO'S call for a dedicated Sustainable Development Goal for Culture post-2030.
This builds on previous advocacy activities including-.
Delivered a 5eiies of public webinaTS With Oobal panels to advocate for the role ot
culture as part ot UNESCO in collaboraiion with the B Titish Council and the Ministry
of Culture in Mexico (Augusi 20221-
Delivered a public panel in collaboration with UCLG (United Cities and Local
Government) atthe UNESCOWorld Conferenceon CulturalPoliciesandSustainable
Development-MONDIACULT2022 (September 20221-
10

WCCF Ltd
World Cities Culture Forum (company no.: 13804618. charity no.: 1204602)
Forthe Year ended 31 March 2024
Financial Review-year ending March 2024
WCCF has created8 business planfortheperiod 2023-25with adefinedfocusforeachyear:
2023 Itransitionl, 2024 limpactl and 20251sustainabilityl-
Income
In the financial year ending 31 March 2024. WCCF received income of £732.13319 months
ending March 2023- £588.2651.
Of this, only 5% of income was restricte(J funds £39.331 19 months ending March 2023..
£59.0711 and £692.80219 months ending March 2023: £529.1941 were unrestricted.
Income from Partnership City Network. including the Summit conference- year
ending March 2024 £349.001 19 months to March 2023.- È307.8481
Income for the Leadership Exchange Programme- year ending March 2024 £194.832
19 months to March 2023.. £94.1691
Income from Donations in kind: year ending March 2024 £98.511{9 monthsto March
2023.. £116.6771
Income in advance (Partnership City Network contributions and funding for aciivities
to take place the following year). year ending March 2024 £289,238 19 months to
March 2023.. £378.0211
Carryforward.. Atthe end of31 March 2024. we carried forward £147.437 unrestrictedfunds
12023.. £140,847) and no restricted funds19 months to March 2023.. Nil).
A breakdown of income is shown in note 2 ofthe accounts on page 27.
Expenditure
Total expenditureforyear ended 31 March 2024 amounteo to £725.54319 months to March
2023= £425.4711
Ofwhich:
Charitable Activities: year ending March 2024 £530.45619 months to March 2023-
£327.4711
Personnel Support & Governance= year en(Jing March 2024 £175,08719 months to
March 2023: £98.0001

WCCF Ltd
World Cities Culture Forum (company no.: 13804618, charity no.: 1204602)
For the Year ended 31 March 2024
Stafl costs have increased as we have grown as an organisation. WCCFhas been incredibly
appreciative of the benefit of using free serviced office space for the past 2 years.
The Key Managemenl Personnel is the Executive Director. supported by a team of 6 staff
members covering Partner Cities Relationships. Research and Advocacy. and Leadership
Exchange programmes. The Executive Director's salary is covered by the Greater London
Authority as a secondment.
A breakdown of expenditure is shown in note 3 olthe accounts on page 30.
Prln¢lpal risks and uncertainties
WCCF Board of Trustees reviews a strategic risk register tr4i¢e a year as well as reviewing
project risks where appropriate. The Executive Director reviews the risk register on a
quarterly basis.
Cashflow is monitored regularlybythe operationsteamtoensurethe minimum levelolcash
does not reduce belowone month plus 10% operatingcosis.
Reserves poilcy and going concern
WCCF reserves policy states that il will aim lo ensuTe that it has bemieen thiee- and six-
months, worth of reserves in case they are needed to cover its operational expenses, a
reduction in income or increase in expenditure due to unforeseen circumstances or to
engage in new opporiunities.
This would allow for the delivery of any projects which have started. the opportunity to
source new income streams and three months. worth of wind-up costs to discharge all the
charily's liabilities if the Trustees decide the charity is no longer a viable going concem.
In 2024, WCCF reported a surplus of£6.590 {2023.. £162.7941. with a total reserves fund of
£147,437 {2023- £140.8471.
At 31 March 2024 there was £4,600 {2023: £2.7801 in a designated fixed asset fund. This
represents the net book value of fixed assets.
It is the Trustees. intention to ensure that there is adequate working capital. as represented
by its unrestricted funds.
As at year end 31 st March 2024 unrestricted reserves covered more than three months of
operating costs.
12

WCCF Ltd
World Cities Culture Forum (company no.: 13804618. charity no.: 1204602)
For the Year ended 31 March 2024
The Trustees feel confident that the organisation is a going concern due to the success in
contributions from the Partnercities and thefundraising activities includinga 3-year funding
support of £750,000 confirmed in May2024Yrom Bloomberg Philanthropies.
By managing income and expenditure effectively over the year, the Trustees aim to make a
financial surplus year-on-yearto build up reseNes to support the long-term sustainability of
the organisation.
The financial resultsforthe yearto 31 March 2024 are shown on pages 21 to 42.
Related party transactions
There are nodonationsfrom retated partieswhich areoutsidethe normalcourseofbusiness
and no restricted (donations from related parties outside the normal course of business.
Details of all related party transactions can be found in note S of the accounts.
Fundraising
The WCCF management team has developed a fundraising strategy and a don8tions policy.
The team has identified expenditure required to generate income and has employed the
se￿iceS of a fundraising consultant.
All fundraising practices are within the values and principles of the organisation. WCCF has
a clear due diligence procedure and undertakes due diligence on every organisation that it
receives funds from.
The regulatory landscape for fundraising is evolving and we will continue to monitor and
adaptwith these changes. We do not run telephone or door to doorfundraising campaigns.
We have ensured we are in line with the GDPR data protection regulations and all other
relevant codes of Conduct. We do not pressure supporters to make gifts and respecr
decisions to stop giving.
The following organisations supported WCCF work in the year ending March 2024:
Bloomberg Philanthropies
The British Council
The Greater London Aulhority
University ofArts Lon(Jon
Kings College London
13

WCCF Ltd
World Cities Culture Forum l¢ompany no.: 13804618. ¢harity no.: 1204602)
For the Yeai ended 31 March 2024
Structure. governance and managernent
WCCF is a company limited by guarantee, registered in England and W8les. and a registered
chavity- The company was established under a mernorandum and articles of association
which esiablishedthe objects and powers ofthecharitable companyand isgoverned under
its articles of association.
2023 was rts firstyear of operation as an independent charitable organisation.
Governed by a boafd ofthree non- executive directorTrustees. membershipwill be reviewed
over time and a board recruitment policy developed.
The City Advisory Committee. whose members are nominated by City Partners and are
geographically representative of the forum. meet quarterly. London's Deputy Mayor for
Culture and Creative Industries Justine Simons chairs the committee.
Asuite of organisational policies and procedures coveringthe areas of employment. finance
and data protection have been developed and will tse reviewed and updated by the board
periodically.
In the 12 months to 31 March 2024, the Board met 6 times. In addition. trustees provided
signiticant ongoing support to the organisation throughout the year.
Powers ol Board of Twstees as Directors
Subject to the provisions of the Act. the Articles and any Special Resolution. the Directors
shall be responsible for the management of the Charity's business and may exercise all the
powers ofthe Charityforthat purpose.
No alteration of the Articles or any Special Resolution shall invalidate any prior act of the
Directors.
A meeting of the Directors at which a quorum is present may exercise all the powers
exercisable bythe Directors.
Appointment of Board of Trustees as Direciors
Any person who is willing to act as a Director. and who is permitted by law to do so, may be
8ppointed to be a Director by resolution of the DirectOTS.
Where a maxirnum number of Directors has beenfixed. the appointment of a Director must
not causelh8t numberto beexceeded in accordance withthe memorandumand articles of
association.
14

WCCF Ltd
World Cities Culture Forum (company no.: 13804618, Charity no.: 12046021
Forthe Yearended 31 March 2024
All Directors give iheir time voluntarily and receive no benefits from the Charity- Any
expenses reclaimedfrom the Charity are setout in note 3.2to the accounts.
The Trustee Board delegates responsibility foi the tlay-to-day activities of the organisation
to the Key Management Personnel which is Ms Laia Gasch, the Executwe Directoi, who
produces monthly reports on the activtties Undertaken in managing the Charity including
management accounts that explain the financial position of the Charity.
Remuneration policy for key management personnel
Payand remuneration ofthe Charity's key managementpersonnel is set in accordance with
WCCF'S pay principles reflecting:
The overall financial position of the charity.
Considerations of internal equity. i.e.. that the pay of those carrying out a similar role
will remain broadly equivalent. that difference between those at the bottom of the
pay scale and those at the top should not be excessive- and also. ourcommitments
to become a London Livingwage Employer-
Increases in the cost of living-
Comparisons wilh the exteTnal job market to ensure WCCF remains competitive and
supports the retention ofteam members:
The relative levels of responsibility and contribution of individuals across the
organisalion.
The Director is on secondmenttrom the Greater London Authority untiljune 2025.
Public benefit
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act
2011 to have due regard to the public benefit guidance, published by the Commission. in
determiningthe activities vn(Jertaken bythe Charity- The Trustees are satisfied that the aims
and objectives of the Charity. and the activities reported above to achieve the aims. meet
these principles.
15

WCCF Ltd
World Cities Culture Forum (company no.: 13804618. ¢harity no.: 1204602)
Forthe Yearended 31 March 2024
Statement of responsibilities olthe trustees
The Trustees Iwho are also (Jirectors of WCCF for the purposes of company lawl are
responsible Yor preparing the Trustees. Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting standards Iunited
Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year
which give a true and Yair view of the state of affairs of the charitable company and of the
incoming resources and application of resources. including the income and expenditure. of
Ihe charitable company for that period. In preparingthese financial statements, the trustees
are required to:
Select suitable accounting policies and then apply them consistently:
ObseNe the methods and principles in the Charities SORP:
Make judgements and estimatesthat are reasonable and prudent-
State whether applicable UK Accounting standards and statemenls of
recommended practice have been followed. subject to any material departures
disclosed an(J explained in the financial statements.
Prepare the f inancialstatements on the going concern basis unless it is inappropTiate
to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and
enable them to ensure thatthe financial statements complywith the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence
fortaking reasonable steps for the prevention and detection of fraud and othei irregularities.
The Trustees are responsible Yor the maintenance and integrity of the corporate and
financial information included on the charitable company's website. Legislation in the
United Kingdom governing the preparation and dissemination of financial statements may
differfrom legislalion in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets
of the charity in the event of winding up.
The total number of such guarantees on 31st March 2024 was three 12023 three). The
Trustees are memf)ers of the chartty. but this entitles them onlyto voting rights. The Trustees
have no beneficial interest in the charity.
16

WCCF Ltd
World Cities Culture Forum (company no.: 1381M618, charity no.: 1204602)
Foi the Year ended 31 March 2024
A¢countant8
Kreston Reeves LLP continued as the charitable ¢ompan¥sac¢ountants duringtheyear ond
has expressed its willingness to continue in that capacity.
Knox Cropper were appointed in October 2024 to conduct the independent examination of
the Charitys accounts.
The Trustees would like to thank 811 those who have supported WCCF slnce It8
establishment in December 2021 and during 2022. 2023 and 2024.
The Twstees. Annu81 Report ha$ been opproved bythe trustee$ at a Board meeting on 12th
Decemb6r 2024 and signed on their behalf ty.
JeffreyJa¢obs
Chair of th? Board of Trustees
17112124
17

WCCF Ltd
World Cities Culture Forum (Company no.: 13804618. ¢harity no.: 12046021
For the Year ended 31 March 2024
Independont examIn￿5 r•port to th• memb•ws of Worfd Cttl•s Culturn Forum
I reF￿ to the memb*s of Ihe (*wilable cOm￿Y on my examinatNJn of the financial statements
of thg charitable C￿npanY Ihe year eThled 31 March 2024.
Responslbllllles and bas1$ of rnwt
As the trustees ofthe ch24itsble company {8nd also its tJre¢tors for the ofLJJnpany law}
you are responsible the p￿parati0Th of the financial ststements in accordance wrth the
rewirements of the Companies Act 2(K6 {Ihe 2006 Acr).
Having satisfied myself that the financial stalements ol the charitable u>mpany are Mt required
to be audited for thi% year under Part 16 of the 2006 Act and are eligible for independent
examination, I report in respect of my examination of the char[lab￿ ￿MpanY'S financial
stalements carried out untjer seC￿n 145 of the Charities Act 2011 1.the 2011 Act'l. In carying
out my examination I hove folk)wed Ihe DIrect￿n$ gwen bythe Charity Commission under section
145151{b) of Ihe 2011 ACL
Ind•pendent *xamlnef$ statem•n¢
The charitable company's gross Mcl￿ne excoeded £250.000 and l am qualrfied to undertake the
examinabon by being a qualffjed memiw of ICAEW.
I have r￿Mpleted my examinatron. I confirm that no rnaterial matters have come to my attention
(other than that disclosed below} which gNes me cause to belipvo that:
20[￿.. or
the finanaal st*ements do not accons with suth reccffds: or
the financial statements ¢Jo not comply 7Mth relevant accounting requiremenls under
section 396 of the Companies A£t 20C6 other Ihan any requirement thal the financial
statements gNe a Irue and fairf view which is not a matter u)nsidered as part of an
independent examinalion: or
the financial slatements have not been prepared in acxordancg ¥&ilh the Charitw SORP
(FRS102).
I have no ￿nCem$ •rwJ have come across rK• olher mattors in ￿nnect￿n with the examination
lo which atten￿n shtyjkl be drawn in IhLs fep(vt kn onjerlo enable a proper understandin9 of the
financial slatements lo be Teached.
19112124
Simon Goodridge FCA
Knox Cropper LLP
6￿8 Leadenh￿l Stree( London ECIA 2AD
18

WCCF Ltd
World Cities Culture Forum {¢ompany no.: 13804618. charity no.: 1204602)
For the Year ended 31 March 2024
Statement of Financial Activities (incorporating the Income &
Expenditure Account)
Year ending 31 March 2024
Unrestricted
funds
Restricted
funds
9monthsto
March 2023
March 2024
Income (Note 2)
Income from generatgd fund5
Donations
Donations in kind
Ch8fltable Activities
Other income
250
98.511
587.778
6.263
692.802
250
98.511
627,109
6.263
732.133
500
116,677
471,088
39.331
Total Ineome
39.331
588.265
Expenditure (Note 3)
Exp¢nditur• on-
Raising Funds
Chari18ble Activrties
Support & Governance
Total Expend•tUTe
20.000
514.415
175.087
686.212
20,000
530,456
175,087
725.S43
39.331
327.471
98.000
39,331
425,471
Net
In¢omellexpendlture)
162.794
Transfers between funds
Net movementin funds
590
6,$90
162,794
Funds b8Lanees brought
forward
140,847
140.847
121,9471
Total fund$ carriedlorw8rd
147.437
147.437
140.847
All of the above results are derived from continuing activities. There were no other
recognised gains or losses otherthan those stated above. Movements in funds are
disclose(J in Note 11 to the financial statements.
19

WCCF Ltd
World Cities Culture Forum fcompany no.: 13804618. charity no.: 1204602)
Forthe Year ended 31 March 2024
Balance Sheat as at 31 Mareh 2024
Totsl
Total
2023
Notes
Flxed Assets
Tangibl• Ass•ts
Current Asts•t8
Debtors
Cash ￿ Bankand in hand
rot4iCurr8ntAs*•ts
1780
178.P
270,947
449,745
161,928
370.893
532,B21
Creditors: f8111nE due vfflhin
one yesr
Net Current
As$ets/(Liabilities)
Net As$•tsl(U*billtles)
{306,9￿}
1394,7541
141837
138.067
147.437
140.847
Funds of the Charlty
Restricted Income
Unrestficted Income
Gen¢ralfund8
142.837
138.067
2,780
Fixèd Ass•t Fund
Tolal Funds
142.437
140.847
The rtotes on the following pages fomi partof thase Finaneialslatements.
Fortheyearending31 March 2024. ttte companywas entitled toexemptionfrom audit under seetion
477 of th? Companies Act 2¢)06 relating io small companies. The members have requir&d the
company to obtsin an audit of its financial ststements for the year in question in a￿OrdanCe with
88etion 476 of the A¢t. The directors acknowledge thèir responsibilities for complwng with the
requirements of the Act ￿th respect to accovntine reco￿8 and the preparation of financial
statements. These financi81 statemenis have been prepar•d in accordance with th¢ provisions
applicable to companies subject to ihè sm8U eompaniès. regim•.
Th¢ finan¢i8L 8tst¢mgnts wert opproved and 8uthorrs¢d for issue by the Board of Tiustees on 12th
December 2024, anil signed on ns behalfby.
JeffreyJ8cobs, Chair of Tru8tso¥
K￿1n Au¥lin.TTeasuTeT
17112124
19112124
20

WCCF Ltd
World Cities Culture Forum (company no.: 13804618. charity no.: 1204602)
For Ihe Year ended 31 March 2024
CashfLow Statement torthe year ending 31 March 2024
March 2024 March 2023
Cashflows from operating activities
DeficitVSurpLus for the financial year
6,S90
162.794
Adjustments for:
Charge to depreciation
Ilncreasel I decrease in debiors
IDecTeasel l increase in creditors
1.586
(16.870)
{87.846)
646
126.4781
182,629
Net eash generated from operatlng a¢tivitles
196.S40)
319.591
Cash flows from investing activities
Payments to acquiret8ngible fixed assets
(3.406)
13,4261
Net cash from Investlng activitie¥
(3.406)
13.4261
Net increase in cash and cash equivalents
199.946)
316.165
Cash and cash equivalenls at the beginning of the year
370,893
54,728
Cash and cash equivalents at end ofyear
270.947
370,893
21

WCCF Ltd
World Cities Culture Forum {company no.: 13804618. ¢harlty no.: 12046021
For the Year ended 31 March 2024
Notes to the Financial Statements
Accounting policies
A summary of the Pfincipal accounting policies all of which have been applied consistently
throughout the year, are set out below-
Statutory information
World Cities Culture Forum 1$ a charitable company limited by guarantee and is
incorporated in England.
The registered office address is City Hall. Kamal Chunchie Way. London. E16 IZE.
Basis of preparation
The financial ￿ateMentS have been prepared under the historical cost convention and in
accordance with the accounting policies set out in the notes to the financial staiements.
The financial statements comply with the charivs governing document. the Charities Act
2011. the accounting and Reporting by Charities- Statement of Recommended Practice
applicable to charities preparing their financial statements in accordance with the Financial
Reporting St8ndard applicable in the UK and Republic of Ireland IFRS102 second edition -
ehectivefTom January2019).
Assets and liabilities are initially recognised at historical cost or transaction value unless
othe￿iSe stated in the relevant accounting policy or note.
The Charity is a Public Benefit Entity as defined by FRS102. The financial slatements are
prepared in Steiling. which is the functional currency of the Charity-
Accounting estirnates and areas of judgement
In applying the financial reporting framework. the Trustees have mad8 a numbeT of
subjective judgements, for example in respect of significant accounting estimates.
Estimates and judgements are continually evaluated and are based on historical experience
and other factors, including expectations of future events that are believed to be reasonable
under the circumstances. The nature of the estimation means the actual ouicomes could
differ from those estimates. Any significant estimaies and judgements affecting these
financial staiements are Oetailed within the relevant accounting policy below.
22

WCCF Ltd
World Cities Culture Forum (company no.: 13804618, charity no.: 1204602)
For the Year ended 31 March 2024
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to
continue as a goingconcern.
The Trustees are confideni about the charity's ability to continue as a going concern while
taking into account the current economic climate. Thistakes account of the pertormance of
the Charity duringthe first year of operations.
The pipeline of future income remains robust. and conversations are strong with repeating
and new potential City Partners and fundraising prospects. We continue to tightly control
expenditure and regularly reviewfinancial indicators and have developed contingency plans
for reducing costs if the financial position becomes more challenging.
Al the reportingdate,the Trustees do not considerihatthere are any sources otuncertainty
for the future of the charity that would result in them needing to change the direction of the
charities, operations.
Income
Income is recognised when the charity has entitlement to the funds, any perforrnance
conditions attache(J io ihe income have been met. it is probable that the income will be
received andthat the amountcan be measured reliably. Incomefrom governmentand other
grants. whether 'capital' grants or 'revenue' grants, is recognised when the charity has
entitlementtothefunds. any pertormance conditionsattached tothe grants have been met.
it is probable that the income will be received. andthe amount can be measured reliably and
is not deferred.
Gift Aid claimable in relation to qualifying donations receive(J is recognised atthe time of the
donation.
Donations in kind represent professional services or facilities which are recognised in
income on the basis of the value of the gift to the charity. Typically. this is the amount the
charitywould be ￿lling to pay in the open market for such equivalent services or facilities.
Partner City incorne is recognised in the year forthe year in which it is received. and not when
the charity has delivered anyopportunitythatthey mightwish totake advantage of. Income
received in advance of the provision of a specified project is deferred until the criteria for
income recognition are met, or related expenditure has occurred.
23

WCCF Ltd
World Cilies Culture Forum (company no.: 13804618. ¢harlty no.: 1204602)
For the Year ended 31 March 2024
Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the charity- this is normally upon notification of the interest paid or
payable bythe bank.
Fund accountlng
Restricted funds are to be used for specific purposes as laid down by the donor or grant
provider. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for
charitable purposes. Designated funds are unrestricte(J funds earmarked bythetrustees for
particular purposes.
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal orconstructive 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 is classified under the following activity
eadings..
Costs of raising funds relate to the costs incurred by the charity in inducing third
parties to make voluntary contributions to it. as well as the cost of any activities with
a fundraising purpose
Expenditure on charitable activities includes the costs of producing reports. events
and publications undertaken to further the purposes of the charity and their
associated supportcosts
Other expenditure represents those items not falling into 8ny other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure wa5
incurred.
1.10 Allocalion of costs
Resources expendeij are allocated to the 8Ctivity where the cost relates directly to it.
However. the cost of overall direction anfl administration of each activity, comprising the
24

WCCF Ltd
World Clties Culture Forum {company no.: 13804618, charity no.: 1204602
Forthe Year ended 31 March 2024
salary and overhead costs of the central function. is apportionetl on the following basis
which is an estimated the amount attributable to each activity.
Governance and Support Costs
Support and goveTnance costs are re-allocated to each activity baled on staff time and the
amount attributable to each activity.
Governancecosts arethecosts associatedwiththegovernancearrangements otthe charity.
These costs are associated with constitutional and statutory requirements and include any
costs associated with the strategic management of the charity's activities.
1.11 Operating leases
WCCF has no operalingleasesfortheyear ended 202412023= nil).
1.12 Tangible fixed assets
Items of equipment are capi181ised where Ihe purchase price exceeds £500. Depreciation
costs are allocated to activities on the basis of the use of the related assets in those
activities. Oepieciation is provided at rates calculated to write down the cost of each asset
to its estimaied residualvalue over its expected useful life. The depreciation rates in use are
as follows-
Computers and telephone
over 3years
1.13 Debtors
Trade and other debtOTS are Tecognised at the settlement amount due after any trade
(Jiscount offered. Prepayments are valued at the amount prepaid net of any trade discounts
due.
1.14 Ca$h at bankand in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with
a short maturity of three months or lessfrom the date of acquisition or openingof the deposit
or similar account.
1.15 Creditors and provisions
Creditors and provisions are recognised where the charity has a pTesent 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 and
25

WCCF Ltd
World Cities Culture Forum (Gompany no.: 13804618, charity no.: 12046021
For the Year ended 31 March 2024
Provisions are normally recognised at their settlement amount after allowing for any tfade
discounts due.
1.16 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction
value and subsequently measured attheir settlement value with the exception of bank loans
which are subsequently measured at amortised cost using the effective interest method.
1.17 Pensions
The Charity is a member of an auto enrolment workplace Group Personal Pension scheme.
The scheme is a multi-employer defined contribution plan for certain employees who meet
certain criteria as prescribed by the Pensions Act 2008. The costs of the plan charge(J in a
statement ot financial activities represents the contributions payable (luringthe year.
26

WCCF Ltd
World Cities Culture Forum (company no.: 13804618. charity no.: 12046021
Forthe Year ended 31 March 2024
Income (current year and prioryear)
Current
Year
Unrestricted
funds
Restricted March 2024 9 months to
funds
March 2023
Donations
Oonations & Gifts
Donated goods. facilKties
and seNices
Totsl Donjtlons
250
98.511
2SO
98.S11
500
116.677
98.761
98.761
117.177
Charitable Activities
Education..
Partnership CItyNe￿Ork &
Summit
Leadeiship Exchange
Programme
Rese8rch."
Regron81 Events & Advocacy
Research & Development
Total CharitableA¢tivftle$
349,001
349,001
307,848
194,832
194,832
94,169
43,945
10.000
59,071
471.088
39,331
39.331
39.331
627.109
587.778
Other Income
6.263
6.263
6.263
6.263
Total Otherlncome
TOTAL INCOME
692.802
39.331
732.133
588.265
27

WCCF Ltd
World Cities Culture Forum Icompanyno.: 13804618, charity no.: 12046021
Forthe Yearended 31 Mar¢h 2024
2. Income (Prior Year9 months to March 2023)
Prior Year
Unrestricted
funds
Restricted 9 months to 6 months to
funds March 2023
June 2022
Donations
Donations & Gilts
Donated goods. facilities
and seNice$
Tot81 Donatlons
500
116.677
500
116.677
77.785
117.177
117.177
77.785
Charitable Aclivilies
Education.-
Partnership City Network &
Summit
Resegrch.-
Leadership Exchange
Programme
Regional Events &
Advocacy
Rese8Tch & Development
Total Charitable A¢tivfti¢s
307.848
307,848
94,169
94.169
107.614
lo.￿0
10.000
59,071
59,071
59.071
471.088
412.017
107.614
Other Incomo
Total Othorlncomo
TOTAL INCOME
529.194
59.071
588.265
185,399
28

WCCF Ltd
World Cities Culture Forum (cornpany no.: 13804618. charity no.: 1204602)
Forthe Yearended 31 March 2024
2.1. Analysis of Government Grants
March 2024 9 months to
March 2023
Greater London Authority
Greater London Authority
S18rtUpGrant
Leadership Exchange programme
36.000
94,169
106,832
There are no unfille(J conditions or other contingencies thai are attached to ihe amounts
recognised from government grants.
2.2. Donated goods. facilities and setrvices
March 2024 9 months to
March 2023
Greater London Authority
St8ff on Secondment
98.511
116.677
Donations in kind are treaied as unrestricted funds.
From January2024. WCCF benefitedtothe'inkind. useofservicedoffice space at University
of Central London East, and prior year benefited to the 'in kind, use of office space at the
British Council. The equivalent commercialvalue of office space would be around £60.000
per annum.
29

WCCF Ltd
World Cities Cullure Forum (company no.: 13804618, charity no.: 121)4602)
For the Year ended 31 March 2024
Analysis of expenditure (current and prior year)
Current
Year
Raising Funds
charitable
Activities
Support &
Governance
Total
Staff costs INote 3.21
Project DelNery
Professional, legal &
finance
Accountancy & payro
Office & 8dminist18tion
Bad ¢Jebt write off
Bank fees & foieign
exchange
Premises costs
Board expenses
Communication ¢osts
Depreciation
sU￿10t81
338.562
106.765
29,731
368,293
106,765
20.000
85,129
72.329
177,458
4.654
12.540
31.368
4.654
12,540
31,368
6,339
6.339
1.747
397
14,396
1.586
175,087
1.747
397
14,396
1,586
725,543
20.000
530.456
Allocation of support &
governance costs
Total Expenditure
175.087
1175.0871
20,000
705.543
725.543
Where sums originallydenominaied in foreign currency have been included in expen(Jiture,
the basis on which those Sums have been translated into sterling lor the currency in which
the accounts are drawn upl are at the spot rate on the dayof change.
30

WCCF Ltd
World Cities Culture Forum (company no.: 13804618. charity no.: 1204602)
For the Year ended 31 March 2024
Analysis of expenditure (Prioryear9 months to March 2023)
Prioryear
Raising Funds
Charitable
Activities
Support &
Governance
Total
Staff Costs (Note 3.21
Project Delivery
Professional. lègal &
finance
Accountancy & payroll
Office & 8dministration
Bad debt write off
Bank fees & foreign
exchange
Premises costs
Board expenses
Communication costs
Oepreciation
Sub-total
Allocation of support &
governance costs
Total Expenditure
170.748
122.256
23.316
194.064
122.256
34.467
36.250
70.717
15.154
12,288
15.154
12.288
6.521
6,521
1.735
1.065
1,025
646
1,735
1.065
1,025
646
321.471
98.000
425,471
98.000
198.0001
425,471
425.471
Where sums originally denominated in foreign currency have been included in
expenditure. the basis on which those sums have been translated into sterling lor the
currency in which the accounts are drawn upl are at the spot rate on the dayofchange.
31

WCCF Ltd
World Cities Culture Forum (company no.: 13804618, Charlty no.: 1204602)
For the Year ended 31 March 2024
3.1. Net incomelexpenditure forthe year
Mar¢h 2024 9 months to
March 2023
Nel Incomellexpenditurel is stated after
chargingllcTediting)
Depreciation
Tax advisory fees
Aecountaney seNices
Independent Examination
1.586
646
2.990
7.722
3.500
3.2. Analysis of staff costs, trustee remuneration and expenses. and
the cost of key management personnel
March 2024 9 months to
March 2023
Salaries & wages
Social security Costs
Pension costs
Other siaff costs incLvding welf8re & training
Total Staff costs
314,661
30,687
17,510
5.435
368,293
154,153
21,720
12.698
5,493
194,064
Salaries include full-time Executive Director seconded and paid by the Greater London
Authority with a total remuneration. including pension contributions of £98.511 las noted in
2.2. under 'donated goods, facilities and services'l- This agreement is until > July 2025.19
monthsto March 2023: total in kind £67,920).
No employee received employee benefits greater than £60.000 during the year (excluding
employer pension contributions and employers. national insurance) {9 months to March
2023: £nill.
The Charity Trustees were not remunerated nor received any other benefits from
employmentwith the Chartyin the year{9 months to March 2023.. £nil}. No CharityTrustee
32

WCCF Ltd
World Cities Culture Forum (company rbo.: 13804618. Gharity no.: 1204602)
Forthe Year ended 31 March 2024
received payment for professional or other semces supplied to the Charity19 months to
March 2023- £nil).
Trustees. expenses represent the payment or reimbursement of travel and subsistence
costs and board administration totaling E 397 {9 monthsto March 2023: £1.064).
Staff numbers
The average number of employees (head count base(J on number of staff employed) during
the year was the Executive Director plus 619 months to March 2023: 51 Staff are split across
the activities of the Charity as follows-
March 2024 9 monthsto
March 2023
Charitable Activilies
Governance
Support
Total Staff numbers
Related parties and relationships with other organisations
No Trusiees identified themselves as having relationships with other organisations, being
in positions of responsibility within sponsoring organisations. All confirmed they did not
have overall control ofthe decision to sponsorldonate totheWCCF. None of our Trustees
receive remuneration or other benefit from Iheir work with Ihe Charity.
During the year no unrestTicted donations were received from organisations connected to
Trustees or key management personnel {9 months to 2023: £nill. The Executive Director is
a staff member ofthe Greater London Authority and seconded toWCCF. Within the year
there were no restricted grants from Greater London Authority.
No Trustee5 contributed personal donations in 202419 months to March 2023: £nill.
There are no donations from related parties which are outside the normal course of
business and no restricted donations from related parties.
Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for
charitable purposes.
33

WCCF Ltd
World Cities Culture Forum Icompanyno.: 13804618, charity no.: 1204602}
For the Year ended 31 March 2024
Tangible Fixed Assets
Computer
Equipment
Cost
Blf 1 April 2023
Additions
3,426
3.406
6,832
At 31 March 2024
Depreciatlon
At 1 April 2023
Charge
At 31 March 2024
1.$86
2.232
Nèt Book Value at 31 Mar¢h 2024
4.600
Net Book Value at 31 March 2023
2.135
Debtors
2024
2023
Trade debtors
Provision for doubtlul ¢JeblS
Accrued Income
198.S42
131.3691
11.625
178.798
161.928
Total debtors due wlthin one year
161,928
Creditors
2024
2023
Trade credr(ors
Accruals
Deferred income
14.954
5.01)0
289.238
(2.2841
306.908
11.940
7.442
378.021
12,6491
394,754
Tax and Social security
Total ¢rediTtors due within oneyear
34

WCCF Ltd
World Cities Culture FoTum (company no.: 13804618. charity no.: 12046021
For theyear ended 31 March 2024
Deterred income refers to unrestricted Partner City fee income and Leadership Exchange
Programrne activity received in advance for the year 2024-25. (9 months to March 2023..
£378.0211.
9.1 Deferred Income
2024
2023
As 811 April 2023
Deferred in the year
Released in theyear
As ai 31 March 2024
378.021
289,238
378.021
289,238
378,021
378,021
10. Analysis of net assets between funds (current and prioryear)
Fund balances at 31 March 2024 are represenied by-
Uniestricted
funds
Restricted
funds
March 2024
March 2023
Fixed assets
Current asseis
Current liabilities
4.6
449.745
1306.9081
147.437
2.780
532.821
1394.7541
140,847
449.745
(306.908)
147.437
Fund balances at 31 March 2023 are represented by=
Unrestricted
funds
Restricted
funds
9 months to
March 2023
6 months to
June 2022
Fixed assets
Current asseis
Current liabilities
2.780
532.821
1394.7541
140.847
2.780
532.821
1394.754)
140.847
190.178
1212,1251
121.9471
35

WCCF Ltd
World Cities Culture Forum {company no.: 13804618, ¢harity no.: 1204602)
For the Year ended 31 March 2024
11.1 Movement In funds Current period
Balance
1Apr23
InGorne Expendituro Transfer
Balance
31 Mar24
Restricted Funds
Africa Research
Mondi8cult Reseai¢h
24.424
14.907
39.331
124.4241
114.9071
{39.331}
Ttrtal restricted funds
Unrestrfcted Funds
Fixed Assets
General Funds
2.780
138.067
140.847
11.5861
1684,6261
{686.2121
3.406
13.4061
4,600
142,837
143,437
692.802
Tot41 unrestricted
lund3
692.802
Totsl Funds
140.847
732.133
(725.5431
147,437
Africa Research- Deliver research funtjed by the British Council. engaging key st8keholders in 11
capital cities of Sub-S8h8ran Africa outLining cultural policies in Africa capitals resuliing in a report
available tor all public and a public webinar.
MondlBeultResearch-Funded by the British Councilto produce. facilil8te and report online publie
events with iniern8tional Culture leaders and policy makeis as part Mondiacult. the UNESCO Worl
Conference on Culture Policies an(J Susiainable Developmeni.
36

WCCF Ltd
World Cities Culture Forum {company no.: 13804618. charlty no.: 1204602)
Forlhe Yearended 31 March 2024
11.2 Movement in funds prior period
Balance
1Ju122
In¢ome Expendlture Transfer
Balan¢e
31 Mar 23
RestrTCted Funds
Africa Research
Mondiacult Research
Culture Policies Pilot
Research
Culture Recovery
Total r•$trlcted fvnds
19,435
13.256
23.5C
119,4351
113,256}
123.5001
2,880
59.071
12,8801
159.0711
Unrestrlcted Funds
Fixed Assets
General Funds
16461
1365.7541
1366.4001
3.426
13,4261
2,780
138,067
140.847
121.9471
121.947)
$29.194
529.194
Total unrestricted
fund$
TotalFunds
(21.947)
588.265
1425,471)
140.847
Afr1¢8 Re$earch- Delrver research funded by the British Council. engaging key stakeholders in 11
capital cities of Sub-S8haran Alrica outlining cultural policies in Africa capitals resulting in a report
8V8ilable foi all public and a public webinar.
Mondi8¢ultResear¢h-Funded bythe British Council to produce. facititateand report online public
evenis with international culture leaders and policy makers as part Mondiacult. the UNESCO World
Conference on Culture Policies and Sustainable Development.
Gulture Pollcles Pilot R•search - Funded by the Universty of the Arts London. Instttute of
Storytelling for a collaborative event that took place in October 2022.
Culture Re¢overy- Funded by King$ College London. to Tese8r¢h the role of Culture policy in Post
COVID Urban Futures.
37

WCCF Ltd
World Cities Culture Forum Icompany no.: 13804618, ¢h8rity no.: 1204602)
For the Yèar ended 31 Mar¢h 2024
12. Prior year Statement of FinancialActivities {incorporatingthe
Income & Expenditure Account)
9 months to 31 March 2023
Unrestri¢ied
funds
Restricted
funds
9 months
to March
2023
Income (Note 21
In¢ometrom oenerated
funds
Donations
Donaiions in kind
Charit8ble Activtiies
Other income
500
116.677
471.086
116.677
412.017
59,071
Total Incomo
529.194
59.071
588.265
Expenditure (Note 31
Expendiiure on:
Raising Funds
Chariiable Activrties
Support & Governance
Total Expendhure
268,400
98.oc
366.400
59.071
327,471
98.000
425.471
S9.071
Net
incomel{expenditure)
162,794
162,794
Transfers between
funds
Net movernent in funds"
162,794
162.794
Funds baLBnces brought
fovward
121.9471
121.94
Total funds Cathed
forward
140.847
140.847
38