![]() ![]() ARAC ensures that GBCC adheres to the highest standards of propriety in the management of public funds and also promotes the development of internal control systems. GBCC’s Audit and Risk Assurance Committee ( ARAC) is a sub-committee of the Board. Mr Andrew Pittam, FCDO, appointed 7 October 2021.Mr Rupert Ainley, FCDO, resigned 7 October 2021.Andrew Seaton, appointed 7 October 2021.Dr Charles Quan Li, resigned 25 August 2022.Prof Katherine Morton, appointed 7 October 2021.Prof Jude Howell, resigned 24 June 2021.Mr Charles Haswell, resigned 24 June 2021.Mr Luke Graham, appointed 7 October 2021.Dr William Godwin KC, resigned 24 June 2021.Mr Timothy Danaher, appointed 7 October 2021.Mr Richard Jackson, Vice Chair & Treasurer.Directors Directorsĭirectors who served on the Board during the year and who were Directors under the Companies Act 2006 are identified below. The Directors consider GBCC’s financial position to be satisfactory. The company was successful in winning two smaller, but significant, in year projects which helped to bring the results for the year to a small deficit. ![]() These projects were ticking over in 2020-21 and started to pick up again in 2021-22 as project activities originally involving travel and face-to-face meetings in China were transferred online. Unlike CBEP, the Criminal Justice projects were seriously impacted by the COVID-19 outbreak in the UK and China since no travel between the two countries was possible. ![]() The programme entered an exit phase and the income derived in 2021-22 was at a lower value over a shorter timeframe. However, in April 2021, a 95% reduction in Official Development Assistance budget for China was announced, which led to the discontinuation of the Prosperity Fund mechanism that funded the CBEP. This project was planned during the coronavirus (COVID-19) travel restrictions and therefore was able to be implemented during the year. The surplus in the prior year was mainly driven by the high income derived from the China Business Environment Programme ( CBEP), a project due to end in March 2022. Management Commentary ResultsĪfter taking into account the GiA of £500,000 (2020-21: £500,000) from the Foreign, Commonwealth and Development Office, the results for the year ending 31 March 2022 show an operating deficit of £3,954 (2020-21: surplus of £130,529). The company’s principal activity during the year continued to be the support of a robust and effective UK relationship with China which furthers the UK’s national interests, and facilitation of channels and platforms for candid bilateral dialogue. GBCC receives grant-in-aid ( GiA) from the Foreign, Commonwealth and Development Office ( FCDO). The organisation is registered in England and Wales and domiciled in the United Kingdom. It is a Private Company limited by Guarantee without share capital. The Great Britain-China Centre ( GBCC) was established in 1974, and is an executive non-departmental public body. The financial statements have been prepared in a form directed by the Secretary of State for Foreign, Commonwealth and Development Affairs with the consent of the Treasury and in accordance with the Companies Act 2006 and the HM Treasury Financial Reporting Manual to the extent that the manual does not conflict with the Act. The information contained in the Directors’ Report is not subject to audit. These accounts no longer include the results for the UK-China Forum because the Political Dialogues are run through The Great Britain-China Centre and no transactions have gone through the Forum in the year. The Directors present their report and financial statements for the period ended 31 March 2022. ![]()
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