OXFORD GLOBAL SOCIETY CIC

Company limited by guarantee

Company Registration Number:
14529981 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 8 December 2022

End date: 31 December 2023

OXFORD GLOBAL SOCIETY CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

OXFORD GLOBAL SOCIETY CIC

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The CIC was incorporated on 8 December 2022, and the principal activity during the period was that of management consultancy activities, research and experimental development on social sciences and humanities, other education and activities of other membership organisations.



Directors

The directors shown below have held office during the whole of the period from
8 December 2022 to 31 December 2023

Dr Jufang Wang
Professor Denis James Galligan


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
6 September 2024

And signed on behalf of the board by:
Name: Dr Jufang Wang
Status: Director

OXFORD GLOBAL SOCIETY CIC

Profit And Loss Account

for the Period Ended 31 December 2023

13 months to 31 December 2023


£
Turnover: 35,501
Cost of sales: ( 11,844 )
Gross profit(or loss): 23,657
Distribution costs: 0
Administrative expenses: ( 29,733 )
Other operating income: 50
Operating profit(or loss): (6,026)
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: (6,026)
Tax: 0
Profit(or loss) for the financial year: (6,026)

OXFORD GLOBAL SOCIETY CIC

Balance sheet

As at 31 December 2023

Notes 13 months to 31 December 2023


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 2,410
Investments:   0
Total current assets: 2,410
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 3 ( 8,436 )
Net current assets (liabilities): (6,026)
Total assets less current liabilities: (6,026)
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): (6,026)
Members' funds
Profit and loss account: (6,026)
Total members' funds: ( 6,026)

The notes form part of these financial statements

OXFORD GLOBAL SOCIETY CIC

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 6 September 2024
and signed on behalf of the board by:

Name: Dr Jufang Wang
Status: Director

The notes form part of these financial statements

OXFORD GLOBAL SOCIETY CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Other accounting policies

    Creditors - Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation - A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

OXFORD GLOBAL SOCIETY CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    13 months to 31 December 2023
    Average number of employees during the period 2

OXFORD GLOBAL SOCIETY CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Creditors: amounts falling due within one year note

13 months to 31 December 2023
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 2,162
Accruals and deferred income 0
Other creditors 6,274
Total 8,436

COMMUNITY INTEREST ANNUAL REPORT

OXFORD GLOBAL SOCIETY CIC

Company Number: 14529981 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

In 2023, the Oxford Global Society organized a series of online events, such as "Putney debates 2023: Democracy in crisis?", "Why in this time of war we need diplomacy more than ever", "Is the Dollar hegemony collapsing?", "Good Friday Agreements at 25: The troubled past and the uncertain future". Our also edited a book, published several research reports and high-quality commentaries on international issues of significant importance. These include: (an upcoming book) "Representative democracy in crisis?", co-edited by Professor Denis Galligan (Oxford), Mr Richard Clary (Harvard), and Professor Zim Nwokora (Deakin University), and commentaries such as "Out of Step: The West's Waltz with Africa" (by Alan Doss, the former Under Secretary General of the UN) and "Is US dollar hegemony ending?" (by Professor Robert Wades of the LSE). Through our events and publications, we informed the global public about selected important issues that are relevant to today's world, such as the dollar hegemony, the so-called "crisis of democracy" and the reasons behind African countries' stance on dividing issues like the Russia-Ukraine war. We also provided an important platform for diverse views on some controversial issues. For example, our online seminar on the dollar hegemony involved speakers from the West, China, and Latin America. Our Putney Debates series also included speakers from the US, Western and Eastern Europe, Africa, and Asia (Indian).

Consultation with stakeholders

In the year of 2023, our stakeholders include the members of our company, and the global public (audience) of our events and research outputs. We held regular meetings with our advisory board members and editorial board members, asking for their advice and suggestions for our research topics; we also wrote to our other members (such as fellows and research assistants) to keep them informed about our activities and plans and seek their feedback and suggestions. As for the global audience of our events and publications, we gained their feedback mainly via social media platforms, such as YouTube and Twitter. In response to the feedback from our own members and the global audience, we tried to make our events and research more relevant and valuable to them, providing a platform for diverse views and perspectives (for issues of international significance such as the Russia-Ukraine war).

Directors' remuneration

Directors' remuneration: Dr Jufang Wang (working full-time for the CIC): £12,000 (pre-tax, including a backdated payment made in 2024) Professor Denis Galligan: £9,999.6 (pre-tax)

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
6 September 2024

And signed on behalf of the board by:
Name: Dr Jufang Wang
Status: Director