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REGISTERED NUMBER: 13697512 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

2X GLOBAL LIMITED

2X GLOBAL LIMITED (REGISTERED NUMBER: 13697512)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


2X GLOBAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Ms J Braswell
Mr B Garcia Fernandez
Ms J Espinoza Trujano
Ms S Basran
Dr K Fernandes
Ms A L K Chakava
Mrs S C Jordan-Kirwan
Ms H J Abou-Jamra
Ms M D C Correa Cabris
Ms C J De Nijs
Ms H M Kipnis



REGISTERED OFFICE: Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW



REGISTERED NUMBER: 13697512 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Robert Kempson ACA



INDEPENDENT AUDITORS: Edwards
34 High Street
Aldridge
Walsall
West Midlands
WS9 8LZ

2X GLOBAL LIMITED (REGISTERED NUMBER: 13697512)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,025 2,113

CURRENT ASSETS
Debtors 5 738,361 281,572
Cash at bank 6,416,003 742,515
7,154,364 1,024,087
CREDITORS
Amounts falling due within one year 6 6,404,249 912,843
NET CURRENT ASSETS 750,115 111,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

767,140

113,357

RESERVES
Income and expenditure account 767,140 113,357
767,140 113,357

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 23 September 2024 and were signed on its behalf by:





Ms J Espinoza Trujano - Director


2X GLOBAL LIMITED (REGISTERED NUMBER: 13697512)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

2X Global Limited 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.

On 3rd January 2023, the company changed its name from 2X Collaborative Limited to 2X Global Limited.

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.

Membership income is recognised in the period to which the supply relates. Any deferred income at the period end is recognised in Accruals and deferred income.

Grants relating to revenue expenditure are recognised in turnover on a systematic basis over the periods in which the entity recognised the related costs for which the grant is intended to compensate. Any deferred income at the period end is recognised in Accruals and deferred income, and any accrued income at the period end is recognised in Prepayments and accrued income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - straight line over 3 years and Straight line over 3 years

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at the transaction price, less any impairment.

Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current 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.

The main activities of 2X Global Limited comprise the provision of a global membership network and as a field-building organisation for investors, these are non-trading activities and not subject to Corporation Tax.

2X GLOBAL LIMITED (REGISTERED NUMBER: 13697512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
The Company's functional and presentational currency is GBP.

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company has cash resources to meet its day to day working capital requirements, Current forecasts indicate the company expects to operate within these facilities for the foreseeable future. Accordingly, the directors believe it is appropriate to prepare the annual financial statements on the going concern basis.

Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Value added tax
Turnover shown in profit or loss shall exclude VAT and other similar sales taxes on taxable outputs. Expenses shall exclude recoverable VAT and other similar recoverable sales taxes.

The Company provides both business and non-business supplies, therefore VAT recovery on input VAT is restricted on a proportionate basis to the business activities of the Company. The non-business proportion is recognised under Irrecoverable VAT in the profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 1 ) .

2X GLOBAL LIMITED (REGISTERED NUMBER: 13697512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 1,198 1,647 2,845
Additions - 20,567 20,567
At 31 December 2023 1,198 22,214 23,412
DEPRECIATION
At 1 January 2023 324 408 732
Charge for year 396 5,259 5,655
At 31 December 2023 720 5,667 6,387
NET BOOK VALUE
At 31 December 2023 478 16,547 17,025
At 31 December 2022 874 1,239 2,113

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 374,175 279,888
Other debtors 184,375 -
Prepayments and accrued income 179,811 1,684
738,361 281,572

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 74,374 51,536
Social security and other taxes 14,714 10,744
VAT 18,572 -
Other creditors 4,370,842 -
Accruals and deferred income 1,925,747 850,563
6,404,249 912,843

At the year end $5,564,545 (£4,370,842) was held in other creditors for pass-through grant funds in relation to the Climate Gender Equity Fund (CGEF).

2X GLOBAL LIMITED (REGISTERED NUMBER: 13697512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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

The Report of the Auditors was unqualified.

Robert Kempson ACA (Senior Statutory Auditor)
for and on behalf of Edwards

8. RELATED PARTY TRANSACTIONS

During the year, two members of the board of directors who are acting in a non-executive capacity received compensation totalling £20,000 (2022 - £20,000).

9. MEMBER'S LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.