GLOBAL SOURCENET
Advancement of education and relief of poverty, providing direct financial support to projects, together with administrative and technical support services.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net decrease in funds of £13,816 for the year ended 31 December 2024, resulting in a deficit of £971 in unrestricted reserves. The trustees attribute this negative balance to year-end timing issues and express confidence that reserves will remain positive going forward. Per the going concern note, there are no material uncertainties regarding the charity's ability to continue its operations.
What the accounts disclose
“Although reserves were negative at year end this was merely due to some year-end timing issues. Reserves became positive by the first quarter of 2025, and the trustees are confident that reserves will remain positive in line with our policy going forward.” — page 5
“In 2021 Global SourceNet was gifted 100% of the share capital of FIMAS Limited (Company number 03523615), a company providing financial and management services.” — page 12
Trustees
- Annette Helms
- Eva Roberts
- Jennifer Boynton
- Joel Todd Smith
- Varduyi Searle
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £34k | £48k |
| 31/12/2023 | £34k | £40k |
| 31/12/2022 | £55k | £51k |
| 31/12/2021 | £37k | £19k |
| 31/12/2020 | £17k | £31k |
Common questions
Is GLOBAL SOURCENET financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net decrease in funds of £13,816 for the year ended 31 December 2024, resulting in a deficit of £971 in unrestricted reserves. The trustees attribute this negative balance to year-end timing issues and express confidence that reserves will remain positive going forward. Per the going concern note, there are no material uncertainties regarding the charity's ability to continue its operations. Its FY2024 accounts were independently examined.