## **Global Development Group SCIO** ## **Annual Report & Financial Statements** **For the year ended** ## **31 March 2025** Peter Hall Finance & Accounting Solutions _Certified Public Accountant UK 10227712A_ FOR THE YEAR ENDED 31 MARCH 2025 ## **ANNUAL REPORT & FINANCIAL STATEMENTS** |**CONTENTS_**________________________________________________________________________|**CONTENTS_**________________________________________________________________________| |---|---| |Trustees’ Annual Report …………………………………………………………………………………………………|3-7| |Independent Examiner’s Report …………………………………………………………………………………….|8| |Statement of Receipts & Payments …………………………………………………………………………………|9| |Statement of Balances ……………………………………………………………………………………………………|10| |Receipts and Payments Detailed ………………………………………………………………………………….|11| |Notes to the Financial Statements ………………………………………………………………………………….|12| 2 **TRUSTEE’S ANNUAL REPORT** FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report and financial statements together with the Independent Examiner’s report for the year ended 31 March 2025. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Charity Name** Global Development Group SCIO **Charity Number** SC051489 **Principal Address** ## **Current Trustees** **Bankers** Virgin Group Virgin Money 30 St Vincent Place, Glasgow, G1 2HL Scotland **Independent Examiner** Peter Hall Peter Hall Finance & Accounting Solutions Tillicoultry FK13 6DR Clackmannanshire ## **Media** 3 ## **TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 DECEMBER 2025 ## **STRUCTURE GOVERNANCE AND MANAGEMENT** ## **Governing Document** The charity is a Scottish Charitable Incorporated Organisation (SCIO) and the purposes and administration arrangements are set out in its constitution. The Charity is registered with the “Office of Scottish Charity Regulator”. Registration was approved on 12[th] January 2022. ## **Appointment of Trustees** The board may at any time appoint any person to be a charity trustee by way of a resolution passed by majority vote at a board meeting. Trustees, other than the initial trustees, shall be appointed for a term not exceeding two years and shall be eligible for re-appointment for any number of further terms not exceeding two years, subject to the terms of the Constitution. ## **Risk Assessment** The trustees of Global Development Group SCIO have evaluated the significant risks confronting the organization and have thoroughly examined the established protocols intended to mitigate these risks. Specifically, robust policies and procedures have been implemented to safeguard the wellbeing of children and vulnerable adults. ## **OBJECTS AND ACTIVITIES** Primary Purposes are to provide for the relief of poverty, sickness, suffering, distress, misfortune, disability and helplessness of people found in the United Kingdom and overseas regardless of sex, race, ethnic background, religion, political beliefs or marital status and to provide aid and development projects and programs in developing countries of the world. Secondary Purposes are to mobilise resources for aid and development purposes. Activities will include Promotion of humanitarian, aid and development projects in developing countries that Global Development Group SCIO carries out in partnership with local grassroots organisations. Engaging with donors and interested groups in Scotland and the UK to promote and raise funds for projects - Fund, resource and implement projects overseas in partnership with local organisations across multiple sectors of development including education, food security, maternal and child health, governance strengthening and capacity building, livelihood development, training and community development. ## **ACHIEVEMENTS & PERFORMANCE** Global Development Group SCIO exists to relieve poverty in a tangible and sustainable way through the implementation of high-quality aid and development projects in collaboration with trusted partners around the world. Our mission is rooted in a vision of a world where all people live free of poverty, with the opportunity and ability to shape their own lives. Since its registration, Global Development Group SCIO has grown significantly in both scale and impact. As of this reporting year, the charity has supported projects in 55 countries, directly benefiting 4,411,514 people. Notably, we have also supported the rescue and restoration of 4,835 women and girls from human trafficking, reinforcing our commitment to human rights and dignity. 4 Our approach is grounded in effective partnerships and community-led development. We work alongside local project partners to identify needs, co-design solutions, and empower communities by utilising existing skills, knowledge, and resources. This grassroots, capacity-building strategy ensures that our projects deliver sustainable, long-term outcomes. In the 2024–2025 financial year, the charity made significant strides in increasing financial flows from UK-based donors and improving project oversight. Although the financial statement reflects a deficit due to the timing of fund transfers to Australia for project deployment, these funds were directly utilised for life-changing aid work across the globe. Global Development Group SCIO also aligns its projects with the United Nations Sustainable Development Goals (SDGs), promoting health, education, gender equality, economic opportunity, and environmental sustainability. Each of our projects contributes to one or more of the SDGs, reinforcing our holistic vision for development and global equity. In terms of governance, Global Development Group SCIO maintains a strong commitment to transparency, accountability, and integrity. We are governed by a team of experienced trustees and adhere strictly to both Scottish Charity law and international development standards. The charity is also part of the wider Global Development Group family, registered with the Australian Charities and Not-for-profits Commission (ACNC) and authorised by the Australian Taxation Office (ATO) to transfer tax-deductible funds to approved overseas development projects. As we look to the future, we remain focused on expanding our reach, transitioning more donors to give directly through Global Development Group SCIO, and increasing our impact through strategic fundraising and grant applications. We are passionate about continuing to serve communities in need and delivering high-quality, sustainable development outcomes. ## **FINANCIAL REVIEW** ## **Overview** This was the third year of operation for Global Development Group (GDG) in Scotland. The charity's finances for the year reflect its ongoing commitment to international aid and development, supporting humanitarian and sustainable projects across the globe in alignment with its objectives. ## Summary of Income and Expenditure During the financial year ending 31 March 2025, the charity received £63,133 in total income, a decrease from £98,913 in the previous year. The bulk of this income (£59,375) came from donations and legacies, with a further £3,758 categorised under other income. Total expenditure increased significantly this year, rising to £145,345, compared to £13,649 in 2024. This may appear to indicate a loss; however, this reflects a change in operational cash flow practice rather than a financial downturn. In the prior year, a large balance of donations was retained in the UK account and only a small amount was transferred to Australia for project distribution. In contrast, during the 2025 financial year, GDG SCIO transferred both current-year donations and the balance carried forward from 2024 to the main office in Australia to be distributed to approved projects. As a result, nearly the entire bank balance was transferred overseas for use in charitable activities, leaving only £3,452 in the UK account at year-end (compared to £85,664 in 2024). This was a planned and deliberate action aligned with the charity’s operational model, and not an indication of financial strain or overspending. 5 ## **TRUSTEE’S ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025** ## Fund Position The charity held no restricted or endowment funds during the year. All funds are unrestricted and available to be applied in accordance with the charitable objectives. The closing bank balance as of 31 March 2025 was £3,452, compared to £85,664 at the end of the previous year. The prior year’s surplus of £85,264 was largely carried forward and transferred for project use during 2025. ## Commentary on Fund Movement The charity maintains a robust financial management framework and is subject to internal financial controls. The directors regularly review operations and financial processes to ensure regulatory compliance and transparency across jurisdictions. All income and expenditure relates to the ongoing charitable activities of the organisation. There were no endowment funds or non-charitable trading during the period. ## **Reserves Policy** The Trustees of Global Development Group SCIO have agreed to maintain a minimum reserve of £100 in the charity’s bank accounts at all times to ensure the charity can meet essential obligations. This policy reflects the current scale of the charity’s operations and financial activity. As the charity grows and becomes more established, the Trustees will review the reserves policy regularly to ensure it remains appropriate and proportionate to the charity’s ongoing needs, operational risks, and financial commitments. ## **FUTURE PLANS** Looking ahead, Global Development Group SCIO aims to strengthen its presence and operations in the UK through the following strategic priorities: ## Expand Fundraising and Project Promotion Increase fundraising efforts and raise awareness of project activities across the UK by engaging with project partner networks and supporters. ## Donor Transition Facilitate the transition of donors from third-party organisations to direct support through Global Development Group SCIO, improving transparency and donor engagement. ## Grant Funding Applications Identify and apply for relevant grant opportunities to support both operational needs and projectbased initiatives aligned with the charity’s objectives. 6 ## APPROVAL This report was approved by the trustees on 29" September 2025 and signed on their behalf by: - 29/9/2025 Trustee 7 ## **INDEPENDENT EXAMINER’S REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2025** ## **Independent Examiner’s Report to the Trustees of Global Development Group SCIO** I report on the accounts of the charity for the year ended 31 March 2025, which are set out on pages 7 to 9. ## **Respective responsibilities of Trustees and Examiner** The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Statement** My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent Examiner’s Statement** In connection with my examination, no matter came to my attention:- 1. which gives me reasonable cause to believe that in any material respect, the requirements - to keep accounting records in accordance with section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and - to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date: 2/10/2025 Peter Hall Finance & Accounting Solutions Tillicoultry FK13 6DR Clackmannanshire 8 ## **STATEMENT OF RECEIPTS & PAYMENTS** ## FOR THE YEAR ENDED 31 MARCH 2025 |**Receipts from:**
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
**Total**
**payments on:**
Raising funds
Charitable activities
Other
**Total**
**Net receipts/(payments)**
Transfers between funds
**Other recognised gains/(losses):**
Extraordinary income
Gain/(losses) on revaluation of fixed assets
Net gains/(losses) on investments
Actuarial gains/(losses) on pension schemes
Net movement in funds
Total funds brought forward
Total funds carried forward|Notes
1
2
3
4
4||Unrestricted
Funds
59,375
3,758|Total
Total
Restricted
Funds
Funds
Funds
2025
2024
£
£
59,375
97,839
3,758
1,076|Total
Total
Restricted
Funds
Funds
Funds
2025
2024
£
£
59,375
97,839
3,758
1,076| |---|---|---|---|---|---| ||||||| ||||**63,133**||**63,133**
98,913| ||||145,345||145,345
13,649| ||||**145,345**||**145,345**
13,649| ||||**(82,212)**
85,664||**(82,212)**
85,264
85,664
400| ||||**3,452**||**3,452**
85,664| There are no Endowment Funds. All incoming resources and resources expended derive from continuing operations. All funds are unrestricted. The notes on page 9 form an integral part of these accounts. 9 STATEMENT OF BALANCES AS AT 31 MARCH 2025 ||Unrestricted|Restricted||Prior| |---|---|---|---|---| |STATEMENTOF BALANCES|funds|funds|Total|Period| |Cash & Bank bal 1/4/2024|85,664||85,664|400| |Surplus/(deficit) shown|(82,212)||(82,212)|85,264| |Cash&Bankbal31/3/2025|3,452||3,452|85,664| These accounts were approved by the trustees on 29th September 2025 and signed on their behalf by:- Trustee 10 ## **Global Development Group SCIO** _Scottish Registered Charity SC051489_ ## **Receipts & Payments Detailed Financial Year ending 31st March 2025** |**Receipts**
Donations Received - Gift Aid
Other
**Total Receipts**
**Less: Payments**
Insurance
Legal & Professional
Projects
**Total Payments**
**Net Receipts (Payments)**|
**Unrestricted**
**Restricted**
**2025**
**2024**
**Note**
59,375
59,375
97,836
1
3,758
3,758
1,076
2

**63,133**
**63,133**
**98,913**
645
645
476
1,230
1,230
600
143,470
143,470
12,573
**145,345**
**145,345**
**13,649**
3
**(82,212)**
**(82,212)**
**85,264**
4| |---|---| 11 **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 DECEMBER 2024 ## **1. Basis of Preparation** These accounts have been prepared on the “Receipts & Payments” basis in accordance with: (a) The Charities and Trustee Investment (Scotland) Act 2005 - (b) The Charities Accounts (Scotland) Regulations 2006 (as amended) ## **2. Fund Accounting** (a) Unrestricted funds are those that can be expended at the discretion of the trustees in the furtherance of the objects of the charity. (b) Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for specific purposes. Currently the charity’s funds are all unrestricted. ## **3. Taxation** (a) The charity is not liable to corporation tax or capital gains tax on its charitable activities. (b) The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged. ## **4. Trustee remuneration** No remuneration was paid to trustees during the year. ## **5. Trustee expenses** No expenses were reimbursed to the trustees during the year. ## **6. Transactions related parties** No related party transactions were made. 12