Global Compact Network UK - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08567552 (England and Wales)

Financial Statements for the Year Ended 31 December 2022

for

Global Compact Network UK

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Balisciano

C Bronks

H A Khan

R H Moseley

D G Schofield

M J Sparkes

D Stronati

A E Turrell

SECRETARY:

S E Kenzie

REGISTERED OFFICE:

153-157 Goswell Road

London

EC1V 7HD

REGISTERED NUMBER:

08567552 (England and Wales)

AUDITORS:

Mercer and Hole LLP

Registered Auditor

Chartered Accountants

72 London Road

St Albans

Hertfordshire

AL1 1NS

CURRENT ASSETS

Debtors

5

1,290,093

313,923

Cash in hand

760,025

885,515

2,050,118

1,199,438

CREDITORS

Amounts falling due within one year

6

1,954,292

1,169,887

NET CURRENT ASSETS

95,826

29,551

TOTAL ASSETS LESS CURRENT LIABILITIES

95,826

29,551

RESERVES

Income and expenditure account

95,826

29,551

95,826

29,551

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2023 and were signed on its behalf by:

D G Schofield - Director

1.	STATUTORY INFORMATION

Global Compact Network UK is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	AUDITORS' REMUNERATION

31.12.22

31.12.21

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

6,000

5,496

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

787,695

313,923

Amounts recoverable on contract

80,955

-

Other debtors

421,443

-

1,290,093

313,923

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Payments on account

619,745

-

Trade creditors

691,170

4,158

Taxation and social security

68,252

75,398

Other creditors

575,125

1,090,331

1,954,292

1,169,887

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jolene Upshall (Senior Statutory Auditor)

for and on behalf of Mercer and Hole LLP