REGISTERED CHARITY NUMBER: 1030929 ## TASK BRASIL TRUST Unaudited Financial Statements for the Year Ended 31 December 2021 Tudor John Limited Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ TASK BRASIL TRUST Contents of the Financial Statements for the year ended 31 December 2021 ||Page| |---|---| |Report of the Trustees|1 to 6| |Independent Examiner's Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Financial Statements|10 to 14| |Detailed Statement of Financial Activities|15| ## TASK BRASIL TRUST Report of the Trustees for the year ended 31 December 2021 The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Task Brasil Trust was founded in the United Kingdom in 1992 in response to the situation of the children at social risk of Brazil. Since its establishment as a charity Task Brasil Trust has been working in the lives of children so that they have a future with positive alternatives. Page 1 ## TASK BRASIL TRUST ## Report of the Trustees for the year ended 31 December 2021 ## OBJECTIVES AND ACTIVITIES In the early days, the charity carried out its work by making contact with children on the streets, assisting poor families who were not able to provide for their children and helping young people at social risk to receive a reasonable education. We were given a generous donation by the English rock icon, guitarist Jimmy Page, enabling the inception of the work and the purchase of a plot of land with a house, in Santa Teresa, Rio de Janeiro, named in his honour; Casa Jimmy. From October 1998 to March 2011, Casa Jimmy provided a home for 484 young children, teenagers and their babies. Casa Jimmy continued as a home for teenage mothers and their babies until November 2008. The Epsom College Farm was purchased with funds raised by the school's pupils. The farm operated until April 2010 for boys aged 9 - 14 years old (age of access to the project). The farm supported teenage boys who were under the care of the state of Rio de Janeiro and had shown consistent willingness to change their future and improve their prospects, committed to leaving behind life on the streets. Casa Roger Turner, a day centre and overnight shelter for teenage boys, and Casa Jimena, a hostel for young mothers aged 18 - 22, both operated until 2009. Casa Roger Turner was purchased with funds raised by Beanfeast Directors in Scotland when they ran the marathon in the Brazilian Amazon rainforest. The shelter was named after the British Navy Captain Roger Turner who was of instrumental support to Task Brasil's operations in Brazil. By then, nearly 600 children and teenagers lived in Task Brasil's residences for street kids. In 2011, Task Brasil informed its supporters and stakeholders that, after a careful review of the available alternatives, it took the decision to refocus its efforts on community based work to help a larger number of children and adolescents. This decision was taken because of the uncertainty in securing funding for the shelter projects, given the global financial crisis that had begun in 2007/2008 and the high operating cost of the aforementioned projects. The introduction of "the Adoption Law" No. 12.010, among other regulations, increased the minimum number of professionals to care for sheltered children and teenagers, bringing additional pressure on the scarce resources available. This same federal legislation stipulates that no child should be sheltered for more than two years. These factors resulted in the trustees taking the decision to cease providing residential care. To further these changes, we worked with the local authorities ("Vara da Infância, Juventude e do Idoso"), to secure the transfer of 21 children under residential care at Casa Jimmy to other shelters or to placements with foster families. The transfer of the children was completed on March 3, 2011. Task Brasil's new mission is to provide disadvantaged, vulnerable and at-risk children and young people in Brazil with the essential tools necessary to have better prospects and the ability to thrive in life and live in harmony with their families and communities, away from the streets. The Legal Representative's appointment by the trustees of Task Brasil is pursuant to Article 1136, paragraph V of Brazil's Civil Code. The appointment minutes are recorded at the Register of Legal Entities (RCPJ-RJ) in Rio de Janeiro. In 2017, trustees Dra. Monica Pereira dos Santos and Amarilis Santos Pinto Santiago were appointed as the legal representatives in Brazil, to represent and administer Task Brasil in Brazil in accordance with articles 12 section VIII of the CPC and Article 1136, section V of the Brazilian Civil Code. The administration follows the decisions of the trustees and observes the Brazilian and the UK legislations. From 2011 until Mach 2020 Task Brasil, through Project Crescer, provided local children and young people with vocational training, social care, and educational, cultural and social activities that complement and enhance their formal education, as well as running income generating workshops. Territorial Scope: the districts of Estacio, Calumbi, Centro, Bairro de Fatima, Lapa, Santa Teresa, and the surrounding communities, such as Moro da Coroa, Fallet, Morro dos Prazeres, Morro do Fogueteiro, Morro da Mineira, Biquinha among others. The professional team in addition to volunteers run music, drama, reading, English, IT and many other activities such as special holidays celebration, recreational sports, income generating workshops are in addition to cultural, sports and leisure activities. Project Crescer offered daily activities, mornings and afternoons, at Casa Jimmy from 2011 until July 2012. As from August, due to the lack of financial resources, the project continued 3 times a week. Until 31/01/2019 the project operated on Tuesdays and Thursdays from 10 am to 4:30pm and Saturdays from 8 am to 4 pm. From 02/02/2019 Casa Jimmy became a daily project, except on Sundays, complementing school hours for children studying in the morning, from 12 noon until 6pm Mondays to Fridays and on Saturdays from 8 am to 4 pm as usual. During the week, until 16/03/2020 the children were provided with lunch at arrival from school, snacks and soup at 5:30pm before returning home as part of the beneficiaries’ daily meals. They were offered 4 meals on Saturday. In addition, we offered "Young Apprentice" workshops for young people 13 and 14 years or older, on Saturdays. Meetings with the beneficiaries’ guardians were held on the first Saturday of the month. It reported on the beneficiaries’ progress, behaviour, events and discussions on educational topics and of interest in addition to enabling individual and family care referrals to services available locally, such as medical and psychological assistance, etc.. On this occasion, the beneficiaries with the best behaviour and attendance during the month were awarded a symbolic medal. Their parents received 4 to 5 items of essential food (such as 1 kilo of rice, beans and pasta as well as 1 litre of milk and cooking oil). Page 2 ## TASK BRASIL TRUST ## Report of the Trustees for the year ended 31 December 2021 The Covid-19 pandemic and the health restrictions of staying at home and social distancing led to the impossibility of offering the above mentioned activities. Through the emergency and humanitarian Project Existence, from April 2020 we took action to ensure vital food provisions and psycho-social support to the vulnerable at risk families of our service users and residents of the communities surrounding Task Brasil’s HQ. With restrictions and the impossibility of in person caregiving and the suspension of the public network’s in person schooling, families underwent many difficulties in helping with their children;s at home schooling; and with the loss of jobs, diminished life conditions , there were many concerns about the future. The students on the project had difficulties with remote learning and limited internet access, decreasing academic performance. There was a strong demand from people in need around the area where the charity is located, relatives or extended family of beneficiaries with children requesting socio-family and food support; increased the demand for actions to face the consequences of the pandemic for the population living in poverty in the communities surrounding the Task Brasil headquarters in the neighborhood of Santa Teresa, Rio de Janeiro, Brazil. We identified the families’ needs and initially shared information about the necessary emergency actions for sanitary measures for hygiene care and social distancing; we carried out referrals to the network of agencies and other public entities for access to social assistance benefits (CRAS/City Council) and income transfer programs, as well as other social, civil and political rights. In order to focus Task Brasil's actions with our statutory goals of promoting education, in 2021 we articulated our goals on social assistance to the families with the counterpart of carrying out pedagogical activities by their children and teenagers using a reading proposal, writing an interpretation 10 to 15 lines text. 92 young people from 68 families participated, who carried out 3556 reading activities using school books provided at Casa Jimmy on the subjects of History and Geography of Elementary School. 1 beneficiary completed High School. The beneficiaries prepared their daily exercises to present to Task Brasil’s staff team monthly, when the food parcel was delivered to the family.The remote work, reached the portion of beneficiaries with digital access difficulties, negatively impacting on their learning progress. Number of food parcels delivered and families covered: Telemonitoring and monitoring 140 families Number of Educational Activities: 3556 reading and summaries prepared by the kids through 2021 Family socioeconomic survey questionnaire (January to February 2021): 31 families Social assistance: 487 + 37 registrations + 20 referrals (Registration and social interview) Total: 544 Referals to public and private services network: 20 Advising and mentoring families via whatsapp or telephone contact: : 720 contacts In 2021 we changed to monthly basic food parcels distribution (containing, in addition to other items, half a kg of ground beef + 6 dz eggs or 1 kg of chicken, canned vegetables, 5 kg of rice, 2 kg of beans, 1 kg of sugar, 400 g of powdered milk, 1 kg wheat flour or similar, 1 oil, 230ml of bleach, 1 soap/toothpaste, 1 bag of powdered soap, 1 liquid detergent for families with small or school-age children who performed reading and summaries activities. There were 430 food parcels distributions, comprising of: 151 parcels to 37 young people enrolled in the Mudes Foundation's World to Work workshops in partnership with Task Brasil; 15 parcels to 4 ex-shelters (PPP project) and their children; 121 parcels to 26 families with children up to 6 years old residing in communities close to Casa Jimmy or to extended families of users. 54 Christmas kits for 54 families. In view of the epidemic, Task Brasil Trust followed the guidelines of government agencies and the world health organization, with no resumption of social and educational activities in person at Casa Jimmy. The public school during the period offered online education as an alternative to the students' educational process. Project Stepping Stone - Task Brasil is committed to providing assistance and guidance to its ex-residents, so that they maintain continuous access to local support networks and live in harmony with their families, away from the streets. However the favelas of Rio de Janeiro have become increasingly dangerous for non-residents and our social workers to visit. Many families could not be reached, either because they had moved or due to difficulties in reaching their homes in the slums. As a result there are just a few families we are still monitoring and assisting. Workshops for initiation to the World of Work -In partnership with the Mudes Foundation, Task Brasil Trust started in August 2020, offering ‘Initiation to the World of Work’ workshops for young people aged 14 to 21 from families who are beneficiaries or whom were not referred by the public network (schools, medical centers, etc.). ) in the region or who just showed spontaneous interest. This lasted 15 weeks through online sessions, via Whatsapp; aiming to expand personal and interactional development, ethical and personal marketing and social responsibility skills. Registration was carried out at the charity’s headquarters, using a registration form and documentation, and the person responsible signed a consent form for users under 18 years of age. After completing the modules, the young person with 75% success received a certificate and was referred to a job interview depending on the available opportunities. Page 3 ## TASK BRASIL TRUST ## Report of the Trustees for the year ended 31 December 2021 Three workshops online were held in 2021: Workshop number 2: until 03/01/2021 Workshop number 3: from 05/01/2021 to 23/04/2021 Workshop number 4: from 17/06/2021 to 08/10/2021 Totalling 43 participants of which received a certificate of completion We noticed a great disincentive on the part of young people to maintain attendance and the commitment to finish the workshops as the restrictive social period extended during the year, which affected the number of young people completing the activities. During the year we received occasional visits to Casa Jimmy and donations. Resources were from donations from individuals, international entities and organizations, small trusts, as well as donations and partnerships with companies and private entities and small events promoted by the institution. We counted on the eventual income from renting a property belonging to the institution in Rio de Janeiro. The London Marathon in the UK event which is one of Task Brasil’s main source of income did not take place until October 2021, therefore this has added financial restrictions during the year. Our trustee Richard Fine run in the virtual London Marathon for the 8th time in support of Task Brasil’s actions to raise urgent needed funds. Few small trusts kindly donated to the charity in response to Task Brasil’s Emergency appeal. The resources were used for the payment of food parcels for the beneficiaries and their families, salaries for employees; payment of water, electricity and telephone bills; taxes; transport for the team and fares for transport for former residents and their families when they come to the institution, for assistance with the technical team, repairs, administrative and operational costs in general. The trustees lent funds, without interest charges, for the running cost of the projects. The house situated in Lapa belonging to the charity, after tenants left in August 2016, continued to be rented using the Airbnb website. The economy in Rio has suffered considerably after the World Cup and value of property has dropped and continued throughout in 2021. In April 2018, we succeeded in evicting the last ex-tenant, who continued living in one of the flats, situated in the property behind Casa Jimmy, without paying rent. The property is located on the plot of land that belongs to Task Brasil, next door to Casa Jimmy. The area has been maintained cleaned. Requires rewiring , roof repairs, painting and plumbing revision. Casa Jimmy adjoined extension built in 2009-2011, continues unfinished. Requires roof repairs, painting, fire and safety installation to the building. Task Brasil Limited company in the UK was largely dormant with little financial activity. US$ 1819.70 were received from Task Brasil Inc based in the USA for the projects in Rio de Janeiro. Southwark Council gave Task Brasil notice that it intended to regenerate the area where Task Brasil's office was based in Kennington, UK, so consequently in October 2018, Task Brasil Trust's office was relocated to Basepoint at Andersons Road, Southampton. The Trustees agreed to relocate Task Brasil’s office and storage to the founder and trustee’s property in Southampton, at no charge, to save costs . The insurance company was informed accordingly. Our part-time employee in the UK was furloughed through out the year. Page 4 ## TASK BRASIL TRUST Report of the Trustees for the year ended 31 December 2021 ## FINANCIAL REVIEW As at 31st December 2021 free reserves were in deficit by £88,974 (2020 £122,206). Loans from trustees (as disclosed in note 13) helped support the activities in the year under review. ## FUTURE PLANS In the coming years, depending on donations received, ask Brasil plans on continuing to run projects in Brazil for the benefit of vulnerable and at risk children and adolescents and those living or working on the streets, including their families. In so doing, it intends: To maintain or reduce cost per beneficiary level, with particular emphasis on the improvement of the synergies of existing projects; To maintain or improve the level of provision of services to beneficiaries in Brazil. And to offer daily socio-educational activities in Casa Jimmy; To maintain or improve the proportion of income spent on projects in Brazil, taking into account the investment required to increase Task Brasil's short-term funding base; To achieve the right mix of high value donors with low value donors to mitigate the levels of risk throughout the economic cycle to sustain the existing projects; To improve all stakeholder relationships that improve Task Brasil's capacity to further these goals; To ensure that Task Brasil becomes as self-sufficient as possible and to use our assets and resources to this end where feasible, whilst always keeping our core objectives in mind. To operate the project at Casa jimmy on a daily basis complementing school hours, for children from low income families. In short, to focus - on efficiency - on services - on financing - on risks - on relationships Page 5 ## TASK BRASIL TRUST ## Report of the Trustees for the year ended 31 December 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The Trustees are recruited through an invitation sent by the existing Board members. This process takes into account the necessary skills, qualification and level of involvement with Task Brasil. Additionally, they should agree to the ethics, values and philosophy of Task Brasil, including its goals, objectives and vision. During the year under review, the trustees visited the projects in Rio in order to supervise, manage and ensure that the activities of the projects were performed focused on meeting the goals and objectives of the institution. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1030929 Principal address 185 The Hawkins Tower, Ocean Way Southampton, SO14 3LH Trustees L Da Silva R Fine J Rorrison Dra M Periera dos Santos A S Pinto Santiago Independent Examiner Tudor John Limited Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ Approved by order of the board of trustees on ………………….. and signed on its behalf by: .......................................................................... L Da Silva - Trustee Page 6 ## Independent Examiner's Report to the Trustees of Task Brasil Trust ## Independent examiner's report to the trustees of Task Brasil Trust I report to the charity trustees on my examination of the accounts of Task Brasil Trust (the Trust) for the year ended 31 December 2021. ## Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. H M Day BSc(Hons) FCA DChA ICAEW Tudor John Limited Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ Date: ............................................. Page 7 ## TASK BRASIL TRUST ## Statement of Financial Activities for the year ended 31 December 2021 |Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
54,034
Other trading activities
4
11,165
Investment income
5
7,817
Other income
1,664
Total
74,680
EXPENDITURE ON
Raising funds
17,220
Charitable activities
6
Brazil Project costs
23,396
Total
40,616
NET INCOME/(EXPENDITURE)
34,064
Transfers between funds
12
(832)
Net movement in funds
33,232
RECONCILIATION OF FUNDS
Total funds brought forward
(122,206)
TOTAL FUNDS CARRIED FORWARD
(88,974)|Restricted
funds
£
-
-
-
-
-
-
23,098
23,098
(23,098)
832
(22,266)
97,465
75,199|2021
Total
funds
£
54,034
11,165
7,817
1,664
74,680
17,220
46,494
63,714
10,966
-
10,966
(24,741)
(13,775)|2020
Total
funds
£
42,658
6,182
6,789
1,201
56,830
27,825
46,968
74,793
(17,963)
-
(17,963)
(6,778)
(24,741)| |---|---|---|---| The notes form part of these financial statements Page 8 ## TASK BRASIL TRUST |Balance Sheet
31 December 2021
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
10
-
CURRENT ASSETS
Cash at bank
19,746
CREDITORS
Amounts falling due within one year
11
(108,720)
NET CURRENT ASSETS/(LIABILITIES)
(88,974)
TOTAL ASSETS LESS CURRENT
LIABILITIES
(88,974)
NET ASSETS/(LIABILITIES)
(88,974)
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS|Restricted
funds
£
75,199
-
-
-
75,199
75,199|2021
Total
funds
£
75,199
19,746
(108,720)
(88,974)
(13,775)
(13,775)
(88,974)
75,199
(13,775)|2020
Total
funds
£
97,465
6,009
(128,215)
(122,206)
(24,741)
(24,741)
(122,206)
97,465
(24,741)| |---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. L Da Silva - Trustee The notes form part of these financial statements Page 9 ## TASK BRASIL TRUST Notes to the Financial Statements for the year ended 31 December 2021 ## 1. GOING CONCERN The Charity has net liabilities on unrestricted funds. Trustees have loaned the Charity money (as detailed in the related parties note) and have agreed to support the Charity financially and not request repayment of the loans until the Charity is in a position to be able to repay these. ## 2. ACCOUNTING POLICIES ## BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. ## INCOME All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - Straight line over 25 years Fixtures and fittings - 20% on cost and 10% on cost Fixed assets relate to assets held in Brazil and as such are held in Brazilian Real. These are converted to Sterling at the end of the financial year using the rate ruling at that date. ## TAXATION The charity is exempt from tax on its charitable activities. ## FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## FOREIGN CURRENCIES The Trust has activities in Brazil. All Brazilian Real amounts in both the Balance Sheet and the Statement of Financial Activities are converted at the year end exchange rate of £1 = R$7.5388 (2020 £1 = R$6.3756). ## CONSOLIDATION The financial statements are a consolidation of the two entities, Task Brasil Trust, the UK registered charity, and its controlled entity of the same name registered in Brazil. Consolidation of the two entities has been prepared on a line by line basis, with intra group transactions being eliminated in accordance with applicable accounting standards. continued... Page 10 ## TASK BRASIL TRUST Notes to the Financial Statements - continued for the year ended 31 December 2021 ## 3. DONATIONS AND LEGACIES |Donations and grants
Child sponsorship
4.
OTHER TRADING ACTIVITIES
Placements, events and trading
5.
INVESTMENT INCOME
Rental property income|2021
£
46,022
8,012
54,034
2021
£
11,165
2021
£
7,817|2020
£
35,846
6,812
42,658
2020
£
6,182
2020
£
6,789| |---|---|---| ## 6. CHARITABLE ACTIVITIES COSTS Direct charitable expenditure primarily relates to salaries and other running costs of Casa Jimmy and other projects in Rio de Janeiro, Brazil. In 2021, R$60,763 (£8,060) in local currency was included in this amount, which refers to non-cash costs related to depreciation. The largest component of costs in Brazil is Employees Expenses (salaries and other benefits) of local staff which totalled R$178,989 in local currency. The aforementioned was equivalent to £23,742 at the year end exchange rate. ## 7. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## TRUSTEES' EXPENSES There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
42,658
Other trading activities
6,182
Investment income
6,789
Other income
1,201
Total
56,830
EXPENDITURE ON
Raising funds
27,825|Restricted
funds
£
-
-
-
-
-
-|Total
funds
£
42,658
6,182
6,789
1,201
56,830
27,825| |---|---|---| continued... Page 11 ## TASK BRASIL TRUST ## Notes to the Financial Statements - continued for the year ended 31 December 2021 ## 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |Unrestricted
fund
£
Charitable activities
Brazil Project costs
14,856
Total
42,681
NET INCOME/(EXPENDITURE)
14,149
Transfers between funds
(104)
Net movement in funds
14,045
RECONCILIATION OF FUNDS
Total funds brought forward
(136,251)
TOTAL FUNDS CARRIED FORWARD
(122,206)|Restricted
funds
£
32,112
32,112
(32,112)
104
(32,008)
129,473
97,465|Total
funds
£
46,968
74,793
(17,963)
-
(17,963)
(6,778)
(24,741)| |---|---|---| ## 9. EXCHANGE (LOSS) GAIN These are due to movements in value of the Brazilian currency, and is principally driven by the retranslation of Brazilian cash and fixed assets at closing exchange rates, and exchange differences on cash transfers made to Brazil. ## 10. TANGIBLE FIXED ASSETS |COST OR VALUATION
At 1 January 2021
Additions
Revaluations
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
Revaluation adjustments
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020|Freehold
property
£
235,347
-
(36,313)
199,034
138,336
7,961
(21,345)
124,952
74,082
97,011|Fixtures
and
fittings
£
23,170
832
(3,575)
20,427
22,716
99
(3,505)
19,310
1,117
454|Totals
£
258,517
832
(39,888)
219,461
161,052
8,060
(24,850)
144,262
75,199
97,465| |---|---|---|---| continued... Page 12 ## TASK BRASIL TRUST ## Notes to the Financial Statements - continued for the year ended 31 December 2021 ## 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR ## Other creditors |2021
£
108,720|2020
£
128,215| |---|---| Taxation and social security principally comprise Brazilian payroll taxes, which are paid one month in arrears. ## 12. MOVEMENT IN FUNDS |MOVEMENT IN FUNDS|||||| |---|---|---|---|---|---| ||||Net|Transfers|| ||||movement|between|At| ||At 1.1.21||in funds|funds|31.12.21| |||£|£|£|£| |Unrestricted funds|||||| |General fund|(122,206)||34,064|(832)|(88,974)| |Restricted funds|||||| |Restricted fund||97,465|(23,098)|832|75,199| |TOTAL FUNDS||(24,741)|10,966|-|(13,775)| |Net movement in funds, included in the above are as follows:|||||| ||||Incoming|Resources|Movement| ||||resources|expended|in funds| ||||£|£|£| |Unrestricted funds|||||| |General fund|||74,680|(40,616)|34,064| |Restricted funds|||||| |Restricted fund|||-|(23,098)|(23,098)| |TOTAL FUNDS|||74,680|(63,714)|10,966| |Comparatives for movement in funds|||||| ||||Net|Transfers|| ||||movement|between|At| ||At 1.1.20||in funds|funds|31.12.20| |||£|£|£|£| |Unrestricted funds|||||| |General fund|(136,251)||14,149|(104)|(122,206)| |Restricted funds|||||| |Restricted fund||129,473|(32,112)|104|97,465| |TOTAL FUNDS||(6,778)|(17,963)|-|(24,741)| continued... Page 13 ## TASK BRASIL TRUST Notes to the Financial Statements - continued for the year ended 31 December 2021 ## 12. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |Unrestricted funds|||| |General fund|56,830|(42,681)|14,149| |Restricted funds|||| |Restricted fund|-|(32,112)|(32,112)| |TOTAL FUNDS|56,830|(74,793)|(17,963)| Restrictions are in the form of both donations made to cover specific elements of operational costs of projects in Brazil and also donations made for the acquisition of specific items. The trustees ceased to consider child sponsorship income as restricted funds in 2010, as amounts donated are not linked to any specific items of expenditure. Restricted funds are held in the form of fixed assets in Brazil which have been acquired under restrictions. Although not all properties and other assets owned by the trust were purchased with funds donated with restrictions on any possible resale, the trustees consider it more prudent to consider all fixed assets to be held under restrictions. ## 13. RELATED PARTY DISCLOSURES Three of the trustees have made loans to the Charity, either in the UK or Brazil or both which are repayable when the finances of the Charity permit. The funds were used to pay the staff and to pay for general operational costs in order to keep the projects running. ## 14. PARENT At 31st December 2021, the parent entity had cash assets of £2,802 (2020 £2,436), and liabilities of £20,081 (2020 £20,081). continued... Page 14 ## TASK BRASIL TRUST Detailed Statement of Financial Activities for the year ended 31 December 2021 ||2021|2020| |---|---|---| ||£|£| |INCOME AND ENDOWMENTS||| |Donations and legacies||| |Donations and grants|46,022|35,846| |Child sponsorship|8,012|6,812| ||54,034|42,658| |Other trading activities||| |Placements, events and trading|11,165|6,182| |Investment income||| |Investment income|7,817|6,789| |Other income||| |Government grants|1,664|1,201| |Total incoming resources|74,680|56,830| |EXPENDITURE||| |Raising donations and legacies||| |Fundraising, publicity and event costs|6,747|10,110| |UK management and administration|9,854|17,297| |Interest expense and bank charges|619|418| ||17,220|27,825| |Charitable activities||| |Brazil project costs|47,589|45,612| |Exchange (gain)/loss|(1,095)|1,356| ||46,494|46,968| |Total resources expended|63,714|74,793| |Net income/(expenditure)|10,966|(17,963)| Page 15