Charfty règlstratlon number 1028947 RAINFOREST CONCERN ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
RAINFOREST CONCERN LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Pulido Cruz MCBSyed M Van Nieuwenhuyse O Walley M Gardner N Page S Schutt Charlty number 1028947 Princlpal address 66 Great Pulteney Street Bath BA2 4DL Audltor Begbies 9 Bonhlll Street London EC2A4DJ Bankers Bardays PIC Epsom Branch PO Box 96 82-84 High Street Epsom Surrey TK19 8BH Tridos Bank Deanery Road Bristol BS15AS Sollcitors Chll Philippi Prietocarrizosa Ferro DU & Uria Av. El Golf40 Piso 20 Santiago Chile Solicltors - Ecuador Bustamante Holguln Quito Ecuador
RAINFOREST CONCERN CONTENTS Page Trustees, report Independent audilorfs report 10-12 Statement of financial activities 13-14 Balance sheet 15 statement of cash flows 16 Notes to the financial statements 17-34
RAINFOREST CONCERN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The accounts have been prepared in accordance with the accounting policies set out in nole 110 the accounts and comply wltli the charity's trust deed, the Charities Acl 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounling periods commencing from 1 January 20191. Rainforest Concem is a Charity registered with the Charity Commission under Registration Number 1028947. Trustees A Pulido Cruz M Gardner MCBSyed M van Nieuwenhuyse O Whaley N Page S Schuti Advlsory board Marlin Gardner (RBG Edinburgh) Dr John Hemming CMG Professor Sir Ghille8n Prance FRS VMH Prof Antonio Lara Andrew Milchell Chlef executive and honorary secretary Peter J Bennett Prlnclpal address 66 Great Pulteney Street Bath BA2 4DL website"www.r8inforestconcern.org Auditor Begbies g Bonhill Street London Bankers Barclays PIC Epsom Branch PO Box 96 82-84 High Street Epsom Surrey TK19 8BH
RAINFOREST CONCERN TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Trustees and Organisatlonal Structure Rainforest Concern is a non-governmental, non-politlC81, non-religious organlsatlon constituted under a Trust Deed daled 15th November 1993. It is registered as a Charity With the Charity Commission. The Trust Deed describes that there should not be less than three trustees, with no maximum number. New Trustees are appointed following formal interviews with the Truslees and the Honorary Secretary with the Board looking particularly for people with experience in conservalion, scientific research and fund-raising initiatlves. The charity's Honorary Secretary is responsible for Ihe day to day operation of the charity and manages the staff of Ihe charlty on behalf of the Trustees. The charity has its principal office in Bath and a wide range of partner organisations wlth whom it delivers its programme. The principal partner organisations are as detailed in Ihe activities, achievements and performance. General purpos8 and approach Rainforest Concem was established in 1993 for the purpose of.. Protecting threatened natural habitals, the biodiversity they contain and the indigenous people who depend on them for their survival. Researching, monltoring and restoring ecosystems to ensure their long-term conservation. Fundamental to Rainforest Concern's philosophy is the establishment of strong partnerships with conservation NGOS in the countries in which the charity operates. Sound local knowledge and regular communication Is vital to success in the field. Over 25 years Rainforesl Concern has been instrumental in helping protect over 2.2 million hectares of natlve forest ecosystems and the vasl biodiversity they contgin. It has worked with 21 partner organisalions and 8 indigenous tribes in 12 different countries, Colombia, Ecuador, Brazil, Peru, Chile. Surinam. Costa Ri, Panama, Uganda, India, Sri Lanka and Romania. The Charity has over 2,000 members and is a member of IUCN. The methods and actlvllies for conSeatIon include.. Registration of ancestral indigenous le[torieS and reseNes. Crealion of private reserves through land purchase. Support for smallholders and rural communities to gain land title, whilst helplng establish alternalive incomes through consetvation, habitat restoration and Ilvelihood options. Providing environmental education for local communities and UK schools. Facilitating academic research and volunteer opportunille5. Rainforest Concern is not Ilmited to the conservation of rainforest as described in the Charity's Trust Deed. Its principle guiding aim is protection of natuial ecosystems with iheir dependeiil biodiversity and indigeiious peoples. The charity aims to COnsee strategicalty iniportant critically endangered ecosystems {Ihat often include ralnforest). Ecosystems by nature are not separated and Include a wide range of habitats across ecological gradients - inherent in watersheds, mountains, rivers and coast for example. The charity does nol aim lo protect single species unless they are 'flagship' species that facilitate the protection of habilal. Wherever possible the charity tries to help protect, restore and research to prevent fragmentation and degradation, striving for connectivity.
RAINFOREST CONCERN TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Declsion maklng and operation Rainforesl Concern has a small team with only two fvll time staff. A small team allows us to dedicate the majorily of our income directly to projects. This had allowed the charily to support conservation of significant areas of threatened ecosystems and indigenous land. Funding decisions are made with weekly Meetings and constant dialogue with particularly active board of tTUStees. The charity is also strongly guided by the needs of partners and their adaptive management requirements whilst addressing immerging threats including logging. land invasion, minlng and climate change. The trustees advise both on strategic conseNation priorities and potential donors. If needed they are provided with conservation or project briefs produced by the staff. Trustees are selecled for the expertise and experience that they can bring to bear, as they follow the activitie5 and progress of the charity. They require little Induction and are encouraged to work alongside and occasionally make trlps to projects for capacity building. The charity seeks oul local partnership wlth experienced teams and groups on the ground (near or adjacent to the ecosystem). The key partnership criteria are.. local experience, science-based, social inclusion and the ability lo work effectively without support. Over recent years the charity is seeking partnerships lo develop more social and biological science based, coi)servalion actions in light of rapid cl)oiige. staff pay and remuneration is proporlional to responsibility operating in a flexible way, encoLiragii)g autonomy. The pay of the director and office manager are benchmarked agaiiisl average pay levels in olhef comparable organisations. Volunteers and trustees can be remuneraled for travel and subsistence expenses. Speclflc objectives and activities The Charity's objectives are to protect threatened natural habitats, the biodiverslty they contain and Ihe indigenous people who still depend on them for their survival. At present the charity has 15 cOnSeallOn projects in 8 countries.. Ecuador, Peru, Chile, Colombia, Brazil, Costa Rica, India and Romanla. The Chgrity works dosety with local conservation organisalions in these countries to protect forests threatened natural habitats. The charity's current partners Include.. ADEPT IRom8nial, Carpathia Foundatlon (Romania), COOraClon Bosques de Zapallar {Chlle), FORECOS Foundation (Chile) Universidad Austral de Valdivia {Chile) DECOIN (Ecuador) Los Cedros Resetve (Ecuadorl Funcacion Cuencas de Limon (Cosla Rica) ReSea Urpiano (Costa Rica) Jaguar Rescue Center (Costa Rica) Fundacion Entropika (Colombial, Fundacion errArnar (Colombial Fundacion Gaia Amazonas {Colombia}, Gurukula Botanical Sanctuary (India), Tribes Allve (Brazill Royal Botanic Gardens, Edinburgh IRBGE, UK)
RAINFOREST CONCERN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ANIA (Peru) Central to Rainforest Concern's philosophy is the establishment of strong partnerships with local small yet dynamic organisalions In the countries where it operates. Such long-temi partnerships have repeatedly underpinned success of projecls. Llkewise, the charfty seeks the guldance of scientists to identify research and cOnseation priorities and provide in-situ training. The Charity's conservation work falls into four calegories.. Conservatlon is central to our operations towards the protection and management of critically important ecosystems, including forested land and natural habital to create protected reserves integrated to needs of local people. This sometimes includes the purchase of land, usually in the name of the local NGO, Rainforest Concem or the local community. The Charity places particular emphasls on the legal recognition of indigenous territory particularly in Colombia and Brazil. Partlcular emphaslsls placed on the creation of forest corridors that connect existing protected areas thereby reducSng fragmeiitalion. This greatly assists the effectiveness of these reserves by enabllng species to move freely from one to another. Reforestatioii or habitat restoration of degraded ecosystems (wllli native local provenance species) also falls into this category. The charity recogiiizes forest dynamics and biodiversity may requlre a degree of management, especially in the absence of large anlmals. Programmes for altemative income generation, health and education are developed with the local communities living near Ihe projects. These are designed lo reduce the negative human impact on forests and ecosystems arising from firewood extraction and cattle ranching for example. Examples of these projects include sustainable small-scale hortlculture (for example cultivation of shade grown coffee), forest products, production of handicrafts and responsible ecotourism. Research, including ecological and blodiversity studie5 are encouraged. These can focus on baseline species inventory and mapping., species taxonomy and discovery., key species ecology and conservation science. European and national scienlisls as well as students from national and international universities have undertaken and conlinue to undertake research at several of our projecls. Results are presented in the annual review, scientific papers and on the charlty's website. Campalgning is essential to give a voice to indigenous communities and scientists. The charity seeks to maximize collaboration and join forces to protect critlcally important ecosystems and indigenous peoples. This include supporting advocacy champions for areas and people otheiSe ignored. Ensuring success The principle measure of success is the protection of threatened ecosystems,. gauged by the size and strategic location of ecosystems, as well as biodiversity conseNglion 'value' (such as endemlsm or rarity of speciesl habitats). This is dependent on income raised, where donors require the charity to direct a5 much income as possible lo tangible conservallon outcomes. The charity's short-term aim is to delimlt and protect- setting up reserves with the aSni of steninilng fragmenlation and consolidaling habits as functional landscape units in close collaboration and involvement of Ioc81 people and governmenl. The long-term aim is for ecosystem cOnSeallOn to be culturally absorbed Into local communities and policy, working lo engage schools and regional administration for example. The charity is increasingly aware of the need to monitor reserves with mapping systems and closer dialogue with local communities, whilst the effects of cllmate change, plant pathogen, logging and human migration are on the increase. Competitive grant making is not especially relevant as the charity seeks out strategic local partners that are already set-up to conserve, protect and restore land for both biodiversity and people. Grants do not requlre high levels of stipulated compliance and reporting. However, Ihe charlly recognises that in an environment of ever more legislative change around land protection, there is a greater need lo ensure more detailed reporting and published research. The charily continues to use locally paid and pro-bono lawyers of hlgh Integrity to ensure Ihat changes around land ownership and lax, are adlu51ed and adhered to for land purchase and rranagement. No conseNation land was purchased during the year.
RAINFOREST CONCERN TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ConseTvatlon work is undertaken either directly by the charity and their associates, or by supporting sludenls locally with grant funding channeled through local NGO. Grants paid to prolecls in the year tolaled £61,887 and work undertaken directly £187,465 In addition to land purchases. The Trustees have considered the Charity's oblecls and activities during the year and believe thal Ihey have complied with the duty in seclion 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. Voluntary help The charity has well eslablished volunteer programmes and benefited from numerous volunteers during the year. These include grovps of gap year students as well as malure volunteers who work on projects that include tree planting, IraS1 maintenance and data collection. The charity has not provided in the accounts for an estiniate of the value given by volunteers as the work they undertake, does not f811 within the SORP recommendallon for Ihe valualion of gifts in kind. ACHIEVEMENTS AND PERFORMANCE Ecuador Neblina Reserve.. The reserve was expanded wilh the purchase of 318 hectares of land with good forest cover. The majority of this was fvnded under a new partnershlp with Beyond ONE. The camera trap programme continued. The 2nd year of the PTES funded eagle programme. Funding from the Cobalt Trust helped facllilate basellne biodiverslty research at the reserve and infrastruclure creation. We also continued to support outreach projects and environmental education programmes. Llurimagua: Rainforest Concern continued to successfvl support the long running legal appeal to protect the community cloud forests of Llurimagua from the copper mining with a win in the Provincial Court April, 2023. Los Cedros Resetve- Rainforest Concern conlinued to support the reseNe. Work continued on setting up new management struclvres, with the participatlon of local communlties, as required by the Constitutional Court. Training for membors of local communities as para ecologists, aiid forest wardens. Chlle El Boldo.. During 2023 we have continued to work with Patricio Pliscoff in his the Climale Refugia Study. This 4 year Iiivesllgalion aims lo identify areas that can act as refugla from climate chai)ge for Chlle's blodlversily. The stLidy will use sensors lo lake measures of the forest condllions Sncludliig temperature, humidity, and vogetalion mapping. We are also coiitinuing the camera trap study, which is Ihe firsl one lo be doiie in the area and collects data about the anlmal species liviiig in the Zapallar forest corridor. During 2023 we have worked on a new IMa5ter plan including all the properties of the corridor. this has been done also with the sUPPOrt of the Ibafiez Alklnson Foundation. After the 2023 fires thal affected the area. an extensive report was done by the institute of Ecology and Biodiversity. Nasampulli.. During 2023 maintenance work was done lo the reseNe's infrastruclure.. basic repairs to the road, cabin, trails and signs. 6 bridges where replaced in the main road, as well as the main gate. A small warehouse was built near Ihe cabin and a barbed wired fence was installed in the main access to prevent caltle from enlering the southern properties. During the summer the ranger was pemanenuy statioiied in the reserve and two students completed their internships assisting him cin differenl lasks. Flnally, ecological restoration activities have also taken place during 2023 such as collecting Araucaria Araucana seeds and plantlng them in selected areas. During February a small bird sludy (photos and registry) was done by Matias Cortés. The camera trap study with the 10 cameras provided by Nature Spy conlinued during 2023.
RAINFOREST CONCERN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Costa Rica Urpiano: The 2023 nesting season continued to be challengii)g with little civil authority presence on the beach and an increase in poachers because of the difficult econoniic siluatioii. The team patrolled the 4.2 km beach dally dLlflng the season aiid saved 153 of 745 nests1145 nests saved, 2022), 10.508 eggs were protected al Ihe nursery aiid 6,305 iieonales were released to the sea. 14 traiiieesliips awai'ded. Repairs were made to the facllities, although 8 liuge storm destroyed Ilie staff dormitories arid anollier bullding. Colombla Tieri'Amar.' 2023 saw the Coloinblan Ecosystein Awareness Projecl continue this time in southern Colombia focusing on six rural schools In different river basiiis and National Parks. Lessons dellvered and field activities carrled out. followed by final evaluations. June 2023. In one location a plant nursery was also buill to grow food for the school. Romania Progress on Rainforest Concern I Planet Foundation grant of £1 Jf3,750 to Fundatia ADEPT TransllvanSa for restoratlon of farni bLiildings in the Angofa Valley and of associated grasslaiids. Havliig met land exceeded) the grassland coiiservation largels in 2022, the farmhouse restoration was completed In late 2023. All activities and expenditure under this granl have been completed. More detailed information on these projects may be found on the Charity's webslte.. rainforestconcern.org Dissemlnation Traffic lo the website showed a considerable increase and we continued to receive favourable comments. The charity continues lo publlsh four monthly on-line newsletters. Typically, Ihese shorter editions cover four projects. A paper edition of Rainforest Review will be published In Ihe coming year. There was increased activity of social media {Facebook, Linkedln, X and Instagram). Instagram havlng 12,600 followers. Schools programme The charity declded to renew ils UK school programme. During the year Helen Brown, a former RC administrator, started undertaking school lalks in the Wlnchester and Bath areas. FINANCIAL REVIEW As shown in the Stalemeiit of Financial Activlties, Ilie Charity's inconie for 2021 showed a considerable Increase over the previous year 10 £1.057,111 (2022.. £602,225) Similarly expenditure made in the dlrecl execulSon of the Cliarily's objectives of direct and grant funded acllvitles decreased to f 351 ,590 {2022'. £398,223) excludiiig land purchases and fundraising costs. In the pursuil of Its objectives, Rainforest Concern buys land for conservatlon of rainforests and other threatened habitats and therefore holds title to forested laiid which is included in Assets. Land PLirchased in the current year was £352.21712022'. £39,534). Support costs amounted to £105,031 (2022.. £92,321). and are apportioned as shown in the Slatement of Financial Activities. Strategic purchases of ralnforesl land requlre considerable time and negotiation and transaclions may take up to a year before Ihe doeds are traiisferred. Fund5 held by sollcitors on belialf of the charity at Ihe year-end awaiting the transfer of lille deeds totaled a furtlier £27.575.
RAINFOREST CONCERN TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Since the charlty operaies to achieve high conservauon impact with low overhead costs, it has not expended a high percentage of resources to monitor chaiiges In protection status of vulnerable ecosystems. Our approach has been to seek aiid fiiid experienced truslwurthy in-counlry partners with necessary ecological monitoring capacities and deep local kiiowledge of socio-economic conditions. However, the charity monitors carefulty the expenditure and legal compllance to ensure funds are used for the conservation outcomes for which they were raised. OLir trustees realise that It is Incunibenl upon IFiem to look for ways to build OLJr capacity for science- based monlloring and risk assessment across the garnut. Most ecDsyslems and rural livelihoods are being affected by climate change, arid Ilie charity is increasingly aware of the i)eed lo assess and monitor.. biodiversity, flood and fire risk, change to carboii stocks. Impact of human migrant, amongst others. The Charity's Trustees held an AGM on 41h December 2023. Investment policy The Trustees have the power to Invest in such assets as they see fit. However, the charity's current policy is to keep any surplus liquid funds in short-lerm deposits which can be accessed readily. The charity is would like to improve Ils interest rate return howevor this has proved difficult when funds 3re often required at short notice. Risk management The major risks to whlch Ralnforest Concern Is exposed are reviewed annually and systems have been established to mitlqate those risks. Wheiiever posslble this aspect is covered by insurance. As required the charity has Employers Liabilily Insurance, The charlty ensures all partners, volunteer5 and employees are aware of the UK Brlbery Act of 2010 and operato in a Ir81isparenl fashion. The Trustees and staff are experlenced in the countrSes Iii whlch the charlty operates, as siich partnerships are forged solely with known trustworthy organlsalions and individuals. All employees and volunteers are thoroughly briefed before working with overseas partners. insured befo travel with Immunlsation updates and follow UK Forelgn and Commonwealth Office travel advice. Funds are only transferred through inlernalional in-counlry baiik braiiches. Land purchase funds are not Iransferred lo th@ local pRrtnerslNGO's. Funds are handled by Ihe cliarlly's lofteii long-standing} l@gal representatives, and only Iraiisferred al the time of purchase. Management and project funds are transferred lo partiiers in quarterty transfers and only througli international banks. UK banklng is low-rlsk and held In several accounts. The charity is aware of the possibility of illegal land invasion or government expropriation, and in 25 years have not suffered in this way. The charity endeavours lo reduce risk lo conservation areas held or supported, by maSntaining long-terni dlalogue wlth partners and an awareness to goveriimental policy change, Iiislabi1Sty and adluslmenls. As referred to. the key rlsk reduction strategy Is to ensure that local people benefit from the eslabllshmenl of conservatloii areas land proleclsl With ecosystem services and resources. This also Includes land ownership with governmenl level land title registration and national support for conserv&tion concessioiis. Reserves policy It is the pollcy of the Trustees to retain reserves equivalent lo approxlniately one year's operating expenditui'e and to Gover any comiiiilted grant funding for the lorthcoinlng year. Al Ilie year end the reserves held by the charity tolaled £2, 568,933. Of the total reseNes held £436,314 were restricted In their use and £2,132,619 are unrestTiCted. Of the unrestricled funds £1 ,645,966 is invested in rainforest land and a further £1,964 in the charity's funclional fixed asset5 such as office computer5 and so accordingly is not available to freely spend on the charity's day to day activities. These allocations leave £484,689 available for general charily use. Tliere were no conimilled grants at the charity's year end the operating expenditure in 2023 (expenditure excding discrellonary grai)ts} tolaled £417,279. The free reseNes of the charity exceed this target flgure and the trustees consider that the charily lias sufficient resee$ to be able to cover short-term income lluctuation5 and to carry out the plan for future action detsiled in this report.
RAINFOREST CONCERN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grant making pollcy The Trustees coiisider grant making an effective means of deliverlng ald using local partners. Local pariners have access to facilities, experiise, staff or other resoui'ces, in Ihe field and Ihey may be better placed to dellver, speedlly aiid effectively. Tlie projects which Ilie Charlly Ghooses lo support are reconimended lo us, iii particular by our partner organisations Plans for the future The Charlty will develop and SLlPPOrt ils exlsting projects wliilsl looking for aiid respondlng lo new conservatlon priorltles and oppoitunities in the comlng year with lundiiig souglit for these purprjses. The charlly's website will be regularly updaled on at least a moiilhly basls and with emphasis lo provlde an Im¢ige-ricli and educational website. The Trustees are clear that short-term achievements are high 8nd even excepllonal when benchmarked against olhei. c0115ervallon organi5alions of similai. size. 14owover due the rapldly developlng global volallllty around clSniale change, food supply and ecological populatlon dlsplaGement, amoiigst other issues. they are also clear that the charity needs to develop a clear vision and strategy for long-term coiiservation oulcomBs, that include ensuring ¢onseNallon benefits are enjoyed by local people. This requires the charily to look for additional resear¢h support, to demonslrale how ecosystem service5 Sustaln Ilvelihoods and agriculture and wellbeS11g. Fundraislng The charlly does not conlraGI wilh any commercial fundralslng agencies, Accordlngly, no member of the charlty or agency acting on Ils behalf Is a meinber of a fundraislng regulatory body or bound by a regulatory standard, and the charlty does not have regulatory procedures in place coverlng fundraisli)g. No complaints have been recelved by the charity from its fundraising. The charity only sends fuiidraisliig malerlal and updates on Ilie cliarlly's work to Indlviduals who have actively opted in lo receive conlacl of Ihis nature froni the charity in order lo protect the publlc from intrusion. We alm to proteGt vulnerable member5 of the publlc fron) perslstenl contact by ensuring ihal updates on the charity's adlvities are not too frequent, and are controlled at chief executive level. Our approach lo fLindraislng1s that we never cold call members of the public as poteiitial donors atthough we do rea¢h out to corporate eiitllies and charllablo trusts. We reach the public through the production of our Ralnforest Reviow arid aim to raise funds by valuing long temi relationships with our funders.
RAINFOREST CONCERN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of trustees, responslbllltles The Iruslees are responsible for preparing the Trustees, Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requlres the trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the truslees are required to.. select sultable accounting policies and then apply them consistently. - observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financlal stalemenls., and prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeplng sufficient accountlng records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements comply with Ihe Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provislons of the trust deed. They are also responsible for safeguarding ihe assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularilies. Audltor In accordance with the company's articles, a resolution proposing that Begbies be reappointed as auditor of the company will be put at a General Meeling. Disclosure of inforniatlon to audltor Each of the trustees has confirmed that there is no Information of whlch they are aware whlch is relevant to the audil, but of which the auditor is unaware. They have further confimied that they have taken appropriate steps to identify such relevant information and to establish that Ihe auditor is aware of such information. The trustees, report was approved by the Board of TTUStees. N Page Trustee Dated: 17 July 2024
RAINFOREST CONCERN INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF RAINFOREST CONCERN Opinion We have audited the financial statements of Rainforest Concern (the 'charity') for the year ended 31 December 2023 which comprise the stalement of financial activities. the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Uiiited Kingdoni Accounting Standards. including Financial Reporting Standard 102 The Fji?ancial Reporting standa applic8bl@ in the UK and Republic of Ireland (United Kingdom Generalty Accepted Accounting Piacticel. In our opinion, the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources. for the year then ended,. have been propetly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for oplnion We conducted our audit in accordance with Intemational Slandards on Auditing (UK) {ISAs (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for th8 audit of the fin8ncial statements section of our report. We are independent of the charity in accordance wlth the ethical requlrements that are relevant to our audit of the financial statement5 in the UK, Including the FRC'S Ethical Slandgrd. and we have fulfilled our other ethical responsibilities in accordance with Ihese requiremenls. We believe that Ihe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial slatements, we have concluded that the Irustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have nol identified any material uncertainties relaling to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilltSes and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiation The other infomiation comprises Ihe intomiation included in the annual ieport other than the financial statements and our auditovs report thereon. The Irustees are responsible for the other information conlained within the annual report. Our opinlon on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other Iiiformatlon and, in doliig so. consider whether the other information is materially inconsistent wllh the flnanclal statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially mi55tated. If we identify such material inconsistencies or apparent material misstatements, we are required to delermine whether this gives rise to a material misstatement in the financial stalements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in Ihis regard. Matters on whlch we are requlred to report by exceptlon We have nolhing to report in respect of the following matters in relation to which the CharitSes (Accounts and Reports} Regulations 2008 require us to report to you if, in our opinion.. the information given In the financial statements is Inconsistent in any material respect with the trustees, report., OT sufficient accounting records have not been kept., or the financial stalements are not in agreement wilh the accounling records; or we have not received all the information and explanations we require for our audit. 10-
RAINFOREST CONCERN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RAINFOREST CONCERN Responsibllltles of trustees As explained more fully in the statement of truslees, responsibilitles, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for Such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatemenl. whether due to fraud or error. In preparing the )Inancial statements, the Irustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of Ihe Charities Acl 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or ertor, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material mis5talement when it exists. Misstatements can arise from fraud or error and are considered material if, Individually or in Ihe aggregate, they could reasonably be expected to inlluence the economic deGision5 of users taken on Ihe basis of these financial statements. Extent to which the audlt was capable of detectlng irregularltles, Including fraud Irregularlties, including fraud, are instances of non-compliance with laws and regulalions. We design procedures In line with our responsibilities, outlined above, to detect material misstaternents in respect of Irregularities, including fraud. The extent lo whlch our procedures are capable of detectlng irregularities, including fraud Is detalled below: Agreement of the financial statement disclosures to underlying supporting documentation to assess compliance with those laws and regulations having an impact on the financial statements and dlsclosure Tequirements. In particular, Accounting and Reporting by Charities: Ststement of Recommended Practice., Enquiries and confirmation of management and the trustees as to Iheir identification of any non-compliance with laws or regulations, or any actual or potential claims., Review of mlnutes of the Board meeting during the perlod., incorporating unpredictability into the nature, timing andlor extent of tesllng. Evaluation of the selection and application of Ihe accounting policies chosen by the charity. In relation to the risk of management overrbde of intemal controls, by undertaking procedures to review joumal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud.. and We assessed the susceptibility of the charity's financial statements to material misstatement. including how fraud might occur by considering the key risks impacting the financial statements. Our audit procedures were designed lo respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due lo fraud is higher than the risk of not delecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures perfomied and the further removed non-compllance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. A further descrlpiion of our responslbililies is available on the Financial Reporting Council's website at.. https:11 www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report. 11
RAINFOREST CONCERN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RAINFOREST CONCERN Use of our report This reporl is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's trnslees those matters we are required to state to thern in an auditorfs report and for no other purpose. To the fullest extent pem)itted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for Ihe opinions we have formed. Begbles -18107124....... Chartered Accountants ststutory Auditor 9 Bonhill Street London EC2A4DJ Begbies is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 ofthe Companies Act 2006. 12
RAINFOREST CONCERN STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Current flnanclal year Unrestricted Restrlcted funds funds 2023 2023 Totsl Total 2023 2022 Notes Income from: Donalions and legacies Investments - interest 313,727 3,658 739,726 1,053,453 3,658 601,743 482 Tolal Income 317,385 739.726 1,057,111 602,225 Ex endlture on: Raising funds 127,575 127,575 116.777 Charitable activities Conservation 92,263 259,327 351,590 398.223 Total expendlture 219,838 259,327 479,165 515,000 Net incoming resources before Iransfers 97,547 480,399 577,946 87,225 Gross transfers between funds 352,217 {352,217) Net income for the yearl Net movement In funds 449,764 128,182 577,946 87,225 Fund balances at 1 January 2023 1,882,854 308,132 1,990,986 1,903,761 Fund balances at 31 December 2023 2,132,619 436,314 2,568,933 1,990,986 The statement of financial actlvitles Includes all gains and losses recognised in the year. All income and expenditure derive from contlnulng activities. 13-
RAINFOREST CONCERN STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Prior flnanclal year Unrestrlcted Restrlcted funds funds 2022 2022 Total 2022 Notes Income from: Donations and legacies Investments - interest 252,247 482 349,496 601,743 482 Total Income 252,729 349,496 802,225 Ex endlture on: Raising funds 116,777 116,777 Charitable gctlvilles Conservation 82,582 315,641 398,223 Total expendlture 199,359 315,641 515,000 Net incomlng resources before transfers 53,370 33,855 87,225 Gross transfers beleen funds 39,534 139,534) Net movement in funds 92,904 15,679) 87,225 Fund balances at 1 January 2022 1,589,950 313,811 1,903,761 Fund balan¢e8 at 31 December 2022 1,682,854 308,132 1,990,986 14-
RAINFOREST CONCERN BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Land for conservatlon 12 13 1,964 1,645,966 2,097 1,293,749 1,647,930 1,295,846 Current assets Debtors Cash at bank and in hand 14 259,896 672,266 48,901 658,972 932,162 707,873 CredIto. amounts falling due wlthin one year 15 (11,159) 112,733) Net current assets 921,003 695,140 Total assets less current Ilabilitles 2,568,933 1.990,986 Income funds Restric funds 18 436,314 308,132 Unres ricted fund Designated funds General unrestricted funds 17 1,647,930 484,689 1,295,646 387,008 2,132,619 1,682,854 2,568,933 1.990,986 The accounts were approved by the Trustees on 17 July 2024 NLd?iy' N Page Trustee 15-
RAINFOREST CONCERN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operatlng actlvltiès Cash generated from operations 88,434 23 362,701 Investlng actlvltles Purchase of tangible fixed assets Purchase of land for con$eNallon Intorest receivéd (849) {352,217) 3,658 (2,847) (39,534) 482 Net cash used In Investlng actlvltles (349,408) (41,899) Nat increase In cash and cash equlvalents 13,293 46,535 Cash and cash equivalents at beglnning of year 668,972 612,436 Cash and cash oquivalents at end ol year 672,266 858,972 16-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies Charliy Information Rainforest Concein Is an unincorporated organlsation constituted under a Twst Deed dated 151h November 1993.11 is registered as a CharSly With the Charity Commission. 1.1 Accounting convention The accouiils have been prepared in accordance with the cliarity's tru51 deed, Ilie Charities Act 2011 and "Accountiiig and Reporting by Charities.. Slalement of Recominended Praclico applicable to charilies pi'eparli)g Ihelr accoui)ts iii accordaiice with the Fiiianclal Reporting Standard applicable in Ihe UK and Republlc of Ireland IFRS 1021" (as amended for accounting periods commenclng from 1 January 2019). The cliarily is a Publlc 8enefil Entity as deflned by FRS 102. The flnanclal stalenients have departed from the Charilles (Accounts and Reports) Regulalions 2008 only to the exlenl required to provide a true and fair vlew. Thls departure has involved following the Statement of Recoinmended Practice for ch8rit1es applyliig FRS 102 rather than the verslon of the Sl8temeiit of Recommended Pracllce which is referred lo in tlie Regulations bul wliich has slnce been withdrawn. The financial statements are prepared in sterliiig, which is the functional currency of the charity. Monetgry amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set oul below. 1.2 Golng concern At the Ilme of approving the financlal statements. tlie trusiees have a reasoiiable expectation that Ihe charity has adequate resources to continue in operational existence for the foreseeable future. Thus the twslees continue to adopt the golng concern basis of accounling in preparing the financial statements. 1.3 Charltable funds Unrestrlcled fuiids are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounls can be measUd reliably, and it is probable that income will be received. Cash donatlons are recognlsed on receSPt. Oiher donatioiis are recognised once the charity has been notified of the donation. Income tax recoverable in relatlon to donatlons received under GiftAid or deeds of covenant Is recognis8d at the time of the donation. Legacies are recognised on the earfier of receipt or when the charity has been notified of an impending distribution, the amount Is known, and recelpt is prcibable. 1.5 Resources expended All expenditure is iiicluded on an accruals basis and Is recognlsed when there is a legal or constructive obligation to pay for expenditure. Fundraising Gos15 include those costs incurred in raising the profile of the charity and ils work, and other expenses incurred in obtaining funding. 17-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) The charity has only one charitable activity which is conseNation. Dlrect project costs includes payments to maintain and preserve the cl)arily's own G0115ervalion land, undertake other conservation aclivllies and the cosls visiting the charlly's owii 8nd grant project5. Costs are recognised when incurred by the charity. Where costs, such as salaries, are InGurred In part far direct activities and in part for support activitie5 an estimate is made of lime Spent on each activity. Grants to partner projects are recorded when the partner is infomied that they will be recelving funding without further approval processes. Govemance cost5 are the costs associated with the governance arrangements of the charity. Support costs are the general costs Incurred in support of meeting the charity's objectives, fundraising and in monllorlng and awarding grants. Support costs are allocated in proportion to offlce-based staff salaries for each activity. All cost include any Irrecoverable VAT. 1.6 Tangible fixed assets Tangible fixed assets are inilially measured at cost and subsequenlly measured at cost or valuation, net of depreciation and any Impairmenl losses. Depreciation is recognised so as to write off the cosl or valuation of assets less thelr residual values over their useful lives on the following bases.. Fixtures, fittings & equipment Computers 200/0 Straighl line 330/0 reducing balance The galn or loss arising on the disposal of an asset is determined as the difference between Ihe sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Land for conservation Land for conservation is land acquired by the charity and is recognised at cost. The treeliold land lias not been depreclated as allowed by ihe SORP for assets With indefinite Ilves. The assets aro reviewed annually for impaimient 1.8 Impalmient of fixed assets At each reporting end date, the cliarlty rpviews the carying amounts of ils langible to delemiine whether there is any indlcation that those assets have suffered an Impairment loss. If 8ny such Indication exlsts. the recoverable amount of the asset Is esllmaled in order lo determine the extent of the Impairment loss lif any). 1.9 Cash and cash equivalonts Cash and cash equlvalenls include cash in hand and deposits held at call with banks. 18-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of it5 financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity become5 paty to the contractual provisions of the inslrument. Flnancial assets and liabilities are offset, wlth the net amounts presented in the financial slatements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabiliiy simullaneousty. Basic financlal assets Basic financial assets, which include deblors and cash and bank balances, are initially measured at transaclion price Including transaction costs and are subsequentty carried at amortised cost. Financlal assets classified as receivable within one year are not amortised. Basic financial liabllltles Basic financial liabililies, including creditors and bank loans are initially recognised at transaction price. Financial liabililies dassified as payable wilhin one year are not amortised. Amounls payable are classified as current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilities. Derecognition of financial liabilities Financial liabilities are derecognised when the chaiity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are received. Termlnalion benefits are recognised immediatety as an expense when the charity Is demonstrably commltted to temiinate the employment of an eTnployee or lo provide termlnation beneffts. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due, 19
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 crftical accountlng estlmates and judgements In Ihe applicatioii of the charity's accounting policles. the tTUStee5 are required to Inake judgements, estlmates and assumptions about tlie carrying amouiil of a55els and liabililles that are iiot readily appareiil from olher sources. The estimates and assoclaled assumpiioiis are based on historical experience aiid other factors that are considered lo be ielevanl. Actual results may differ from these estimates. The eslimales and underfying assumptlons are reviewed on an ongolng basis. Revisions to accounting estlm3tes are recognlsed in the period in whlch the estiiiiate Is revlsed where the revision affects only 11)81 period, or in the period of the revision and future periods where tlie revision affects both current and future periods. Critical judgements Carrylng value of land for conseNatlon In accordance with FRS 102 the land for conseNallon 15 recorded al cost. The charlty has not opted for a policy of revalualion with regards to the conservatioii land owned, bul does revlew for impairment annually. Given the Inherent difficulties In valuing such land, and so ensuring the land is iiol impaired, a level of judgenient is required. In considerlng whether Ihere has been ali inipairment Ihe physical condlllon of the land Is considered in addltion to Ihe continuing legal rights of ownership. Raising funds 2023 2022 Fundra15in and ublicl Seeking donalioiis, grants and legacies - share of governance costs Fundraislng and donor events Fundraising agenls Advertising, website and newsletter Staff costs Support costs 4,333 1,979 18,999 3,460 44,787 58,350 4.333 1,980 17,390 3,166 42,952 51,289 127,575 116,777 Forthe year ended 31 December 2022 Fundraising and publicity 116,777 116,777 21
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable actlvlties Total 2023 Total 2022 Conservatlon Activitles undertaken directly Staff costs Consultants and freelance fees Neblina ReseNe Ecuador- management and support Nasampulll Reserve Chile- management and support 35,829 19.729 34,362 20,831 88,056 74,417 32,138 26.249 175,752 155,859 Grant funding of actlvltles (see note 71 129,157 201,332 Share of support costs (see note 10) Share of governance costs (see note 10) 43,214 3.467 37,565 3,487 351,590 398,223 Analysis by fund Unreslricted funds Restricted funds 92,263 259.327 351,590 For the year ended 31 December 2022 Unrestricted funds Restricted funds 82,582 315,641 398.223 22-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltable activities (Contlnuedl Expenditure by activity Dlrect Support costs Total 2Q23 Direct conservation costs Neblina Reserve Ecuador- management and support Nasampulli Reserve Chile - management and support Grants lo projects and partners 55,558 8,506 64,064 88,056 13.481 101,537 32,138 129,157 4.920 19,774 37,058 148.931 304,909 46,681 351.590 Direct Support costs Total 2022 Direct conseNation costs Neblina Reserve Ecuador- management and support Nasampulli Reserve Chile- management and support Grants to projects and partners 55,193 6,340 61,533 74,417 8,549 82,966 26.249 201,332 3,015 23,128 29,264 224.460 357,191 41,032 398.223 Further details of projects by geographical area are contained in the Trustees, Report and note 18. Support costs are allocated in proportion to expenditure on charitable activities. Conservation ConseNalion Graiil ivin The charity achieves its objects by awarding grants to partner projects to protect the rainforest and its inhabitants and purchase land for conservation purposes. Grants for conservation purposes and research are identified as grants in these accounts, regardless of whether the activity lakes place on the tharitS or third party land. clivilies uiidertaken directl b Ilie charit Where suitable partners cannot be found for land purchase the chadty may purchase this in its own narne. Costs for the maintenance and protection of this land along with monitoring this, and all partner projects, are recorded under activities undertaken directty, except when paid as grants to partners. The allocations have been revised in these accounts to identify aclivities on the Chile and Ecuadorian reserves. 23-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable 2023 2022 Grants payable Jaguar Rescue Centre- Cosla Rica Munnarakkunnu Trust- India The Heart of Belize & Selvana - Belize Los Cedros - Ecuador Decoin - Ecuador Fundatia Adepl- Romania Fundacion Tlerramar- Colombia Corporacion Bosques de Zapallar- Chile Urplano Reserve- Costa Rlca Fundacion Cuencas de Limon- Costa Rica Other- below £2,000 25,396 9,100 15,490 33,440 7,008 45,215 1,000 8,631 15,843 65.605 46,942 17,925 7,989 8,950 20,328 1,626 129,157 201,332 Conservalion The charity carries out its charitable objects through grants to third parties, its own research and conservation activities and by land purchases. Accordingly the level of each type of acllvity varies across years. During the year the charity had acquired tille lo land for conseNalion to the value of £352,217 (2022: £39,534) in addition to making the above payments for grants, and maintenance and research costs detailed In note 5. The purchase of land for conservation is shown in the accounts as an addition to land for conservation assets, and funds held by third parties for future purchases are shown in other deblors. The cumulative lotal of land for conservation purchases and grants in 2023 was £481,374 (2022= £225,023). Commitments No grants included In the above figures were unpaid at the current or prior balance sheet date, subject to conditions yel to be met by the recipienl. Trustees None of the Irustees (or any persons connected wlth them) received any remuneration from the charity during the year {2022.'£0I. No Iruslees visited the charity's projects and had their flights and other expenses paid by Ihe chariiy in the current or prevlous year. One Iruslee claimed general travel expenses during the year of £227 (2022:£0I. For other relaled party transactions please see note 21. Taxation The charity is exempt from lax on income and galns falllng wtthin section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitsble objects. 24-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Support costs Support Costs Governance costs 2023 2022 staff costs Depredation Consultancy, legal and professional fees Rent, rates, utilities and seNice charges General expenses Bank charges and fees 34.719 982 9,753 21,893 28,234 1,650 34,719 982 9.753 21,893 28,234 1,650 33,134 1,049 7.238 21,192 20.378 1,530 Audit fees 7,800 7,800 7,800 97,231 7,800 105,031 92,321 Analysed between Fundraising Charitable activities 54,017 43,214 4,333 3,467 58.350 46,681 51,289 41.032 97,231 7.800 105.031 92.321 Govemance costs Includes accrued and paid fees to the 8udltors of £6,500 excluding VAT (2022- £6,500 excluding VATI for audit, bookkeeping and glft aid return fee. Support costs have been allocated according to offic&based staff wages. 25-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employees Number of employees The average monthly number of employees during the year was.. 2023 Number 2022 Number 2023 2022 Employment costs 106,250 7.221 1,864 101,156 7,374 1,918 Wages and salaries Social securlty Costs other pension costs 115,335 110.448 The number of employees whose annual remuneration was £60,000 or more, not including eniployels penslon coiitributions, were.. 2023 Number 2022 Number £70,001-£80,000 Employers, pension contributions of £1,210 were made in total for the hlgher paid employee (2022.. £1,321). 26-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Tanglble flxed assets Flxturets. fittin95 & èqulpment Computers Tot81 Cost At 1 January 2023 Additions 12,921 3.853 849 16.774 12.921 4,702 17.623 At 31 December 2023 Depreciation and Impalrment At 1 January 2023 Depreciation charged in the year 12,921 1,756 982 14,677 982 12,921 2,738 15,659 At 31 December 2023 Carrylng amount At 310ecember 2023 1,964 1,964 2,097 2,097 At 31 December 2022 13 Land for Conservation Land for conservatlon 1,293,749 352,217 At 1 January 2023 Purchases of18nd for conservation 1,645,966 At 31 December 2023 Land for conservation assets are areas of rainforest land owned across Ecuador and Chile. The charlty purchases areas of conservation land in its own name when It is not possible for land lo be held by local partners. The land is held Is SUPPOrt of Rainforest ConceTlI'S charltable objects and the charity works wlth local groups in its maintenance and protection. Five year purchase summary of conservation land 2023 2022 2021 2020 2019 24,336 126,017 Purchases 352,217 39,534 27-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Debtors 2023 2022 Amounts falling due wlthln one year: 256.135 3,761 45,417 3,484 Other debtors Prepayments and accnjed income 259,896 48,901 other debtors includes £27,575 (2022.. f16.754) held by third parties for land purchase5 spannin9 the year end. No legal commitments were outstanding at either year end in respect of these traiisactions. other debtors also includes a £200.000 bequest to which the charity was entitled at the year end, but was not received until March 2024. 15 Creditors: amounts falling due wlthln one year 2023 2022 4,142 420 6.597 3,182 710 8,841 Other taxation and social security other creditors Accruals and deferred Income 11,159 12,733 16 Retlrement benefit schemes Defined contributlon schemes The charity operates defined conlrlbution penslon schemes for all qualifying employees under the automallc enrolrnent njles. The assets of the scheme are held separately from those of the charity in Independently administered funds. The charge to profit or loss in respect of defined contribution schemes was £1,864 (2022 - £1,918). 28-
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RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 Operating lease commitments At the reporting end dale the charity had oulslanding commilments for future minimum lease payments under non-cancellable operating leases for oftice space rented, which fall due as follows.. 2023 2022 Within one year 3.400 3,100 21 Related party transactlons Remuneration of key management personnel The remuneration of key management personnel is as follows. 2023 2022 Aggregate compensation including employels nalional Insurance and pension 89,573 85.905 Transaction5 With related parties During the year the charity entered into the following transactions with related parties.. During the year key management personnel had an outstanding salary advance of £2,962 12022- £2,982) which was repaid by the balance sheet date. During the 2021 year a staff loan was made for £25,000 which is being repaid in monthly instalments and carries an interest rate of 2 %. The balance at the year end stood at £12,411 (2022.. £17,340) and was repaid in full after the year end. The donations for the year include £100,290 (2022= £125,991) from the Swiss Planet Foundation, an organisation of whose board the Chief Execulive of Rainforest Concern is a president. The grants are given for specific prolecls, with £28,128 in Ecuador and £72,162 for activities and grants in Costa Rica (2022.. £62,872 in Ecuador and £63,119 for aGlivities and grants in Chilel. Total unrestricted donations from trustee5 and their connected parties were In aggreg91e £23,998 (2022.. £75,621). During the year under review, no trustee received paymenl or remuneration from the charity {2022.' none). -33-
RAINFOREST CONCERN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 22 Analysls of changes in net funds The ch8rlty had no debt durlng ihè year. 23 Cash generated from operatlons 2023 2022 Surplus forthe year 577,948 87,225 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (3,658> 982 {482) 1,049 Movemen1$ in working Gapilal.. (Increase)Idecrease In debtors (Decrease) in credilors (210,995) (1,574) 11,052 (10,410) Cash genernted from operations 362,701 88,434 34-