## **ANNUAL REPORT 2021–22**
## **Health literacy matters**
**Supporting informed choices on HIV and sexual health**
## ‘‘
I have learn a lot that I didn’t know that is available for me to prevent myself from getting HIV. Wow I was amazed, dam I need to learn so I can tell other people. Be in the KNOW website user, Zambia
This platform it’s really educating me a lot...
Facebook follower
## **Contents**
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|---|---|
|2021–22 highlights|2|
|Message from the Chair and CEO|4|
|Vision, mission and values|6|
|Our strategy|8|
|Our work in action|10|
|Project spotlights|18|
|The year ahead|20|
|Maintaining an effective organisation|21|
|Financial summary|22|
|Charity information|23|
|Structure, governance and management|24|
|Fundraising and partnerships|25|
|Finance report|26|
|Statement of Trustee responsibility|28|
|Independent auditor’s report to the|29|
|members of Avert|
|Statement of financial activity|31|
|Balance sheet|32|
|Statement of cash flows|33|
|Accounting policies|34|
|Notes to the financial statements|36|
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equipping more individuals and health workers with better HIV and sexual health knowledge, skills and confidence do we have a chance of ending AIDS by 2030. To do that requires urgent innovation – finding different ways of engaging people with action-oriented digital resources that enable them to make informed choices on HIV and sexual health. That is why we have focused our efforts this year on scaling up our reach by working with new partners, growing our social media presence, and developing a fresh digital brand. Health information is a right for all and Avert
Boost – our digital job aide for community health workers accessed by **1,172 COMMUNITY HEALTH WORKERS** in Zimbabwe alone
OVER **12.3 MILLION FACEBOOK & INSTAGRAM USERS** learned more about sexual health through Avert’s content
Over COVID-related content **85%** viewed over **OF VISITORS TO 889 AVERT.ORG THOUSAND TIMES** learned something new about HIV and sexual health
AVERT ANNUAL REPORT 2021–22 | 3
**24.9 MILLION PEOPLE** empowered through knowledge
Projects and campaigns to reach targeted populations undertaken in **8 COUNTRIES** across sub-Saharan Africa: Lesotho, Malawi, Mozambique, Nigeria, South Africa, Uganda, Zambia and Zimbabwe
Nearly **439 THOUSAND PEOPLE** reached through 2021 World AIDS Day campaign on Facebook and Instagram
Information resources for primary HIV and sexual health practitioners viewed **7.8 12.5 MILLION PEOPLE MILLION PEOPLE** in sub-Saharan Africa in South Asia empowered empowered through through knowledge **2.8** knowledge (web & social) (web & social) **MILLION TIMES**
**4 |[AVERT ANNUAL REPORT 2021–22]**
## **Message from the Chair and CEO**
The latest UNAIDS data[1] on the global HIV response makes for grim reading. The number of new infections is climbing again in the Asia Pacific region, and in East and Southern Africa the fragile headway made in recent years is in serious danger of being lost. Resources to combat the epidemic have either dwindled or been reallocated to tackle COVID-19. Millions of lives are at stake as a result.
Progress towards increasing the number of people on lifesaving treatment has also stalled, whilst ‘treatment fatigue’ and lack of adherence, particularly among young people, are of concern. Meanwhile, the criminalization of marginalised groups in many countries continues to fuel stigma towards people with HIV, discouraging them from seeking advice and using services.
The tools that we have at our disposal to prevent, treat and manage HIV are only effective if the people who need them understand and trust them, and know how to access them. That is why we are determined to use our expertise to build health literacy among millions of individuals, community health workers, peer educators, and health practitioners.
The ongoing revolution in digital technology – along with rapidly increasing mobile phone ownership and decreasing data costs – presents a huge opportunity to deliver critical health information to more people who need it. With years of experience in the field of global health communications, Avert is poised to exploit these changes to the full.
We have got off to a flying start in year one of our 2021–24 global strategy. Feedback from our audiences, partners and funders indicates that their confidence in us as a trusted provider of accurate, stimulating and context-appropriate content and resources is running high. The time and commitment invested this year in establishing our new digital brand, _Be in the KNOW_ , is already paying off and we now have a platform in place that can maximise our impact.
1. https://www.unaids.org/en/resources/documents/2022/in-dangerglobal-aids-update
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AVERT ANNUAL REPORT 2021–22 | 5
Guiding people on their own digital learning journeys is an Knowledge is power and now is the time for the HIV response
important way to promote self-care and reach many who to fully embrace the potential of digital technology to
might otherwise avoid traditional HIV prevention, care and increase health literacy. We are committed to growing our
treatment services for fear of discrimination. By working with work in this field and sharing the learning and impact we
our users, and through new partnerships with GNP+, VSO achieve. We wish to acknowledge the contributions of our
and others, we have opened up options for individuals to be talented staff team and technical specialists, our committed
able to access healthcare on their own, in privacy, using their Trustees, and our valued funders, donors and partners.
phones or low-cost tablets. We sincerely thank them all for their investment in our vision.
For example, we added to our project portfolio this year with
the co-creation of an innovative and tailored communication
tool, Yaya – a digital life skills app aimed at girls and young
women in Mozambique. We also supported the ongoing
development of Voice+ , an app designed to support linkages
between networks of people living with HIV.
In line with our mission to deepen the HIV and sexual health
knowledge of our key audiences, we expanded Boost , our
on-the-job information resource for community health
workers. We are also particularly excited about the
development of Young Africa Live throughout the year, a
brand new interactive approach to help young people in
South Africa make informed choices about their sexual and
mental health.
Sarah Hand Professor Simon Forrest
Chief Executive Chair of the Board of Trustees
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6 |[AVERT ANNUAL REPORT 2021–22]
## **Vision, mission and values**
## **WHO WE ARE**
Avert uses digital communications to build health literacy on HIV and sexual health. With over 30 years’ experience, we are a trusted provider of accessible, accurate and actionable content and resources that support informed choices. Our work supports global efforts to end AIDS and achieve the Sustainable Development Goal for health. Every year, we engage with millions of individuals, community health workers and primary health practitioners living in areas of greatest need. We use our understanding of HIV and sexual health, our expertise in digital marketing, communications and behaviour change, and our network of partnerships to increase their knowledge, skills and confidence, and their ability to act.
## **OUR VISION**
A world with no new HIV infections, where people make empowered sexual health choices, and where those living with HIV do so with dignity, good health and equality.
## **OUR MISSION**
To increase health literacy on HIV and sexual health, among those most affected in areas of greatest need, in order to reduce new infections and improve health and well-being.
## **OUR VALUES**
We believe in every person’s right to health and to the information that enables them to make informed choices around sexual health. The following values inform our work:
AVERT ANNUAL REPORT 2021–22 | 7
- **EVIDENCE-BASED.** We are committed to providing reliable, accurate, and high-quality information on HIV and sexual health. We use the latest evidence to inform our content and programmatic priorities.
- **RESPONSIVE.** We adapt our approach to respond to changing trends in the HIV epidemic and in how our target audiences access and consume information.
- **TRUSTWORTHY.** We have more than 30 years’ experience of working in the HIV response. We are recognised and accredited as a provider of accurate and reliable information.
## ‘‘
You’re doing a great work spreading awareness and normalising a topic that everyone stigmatise but it’s an essential and not-to-be ashamed thing.
## **Be in the KNOW Instagram follower**
Best non-profit organization. Love what you guys are doing
**Facebook fan**
- **CREATIVE.** We understand the power of new approaches to bring about change. We focus on solutions and think creatively to continually improve our work and bring new insights to the sector.
- **PEOPLE-ORIENTED.** We put people at the centre of what we do and how we do it – supporting, valuing, engaging and involving them. We aim to be accessible, inclusive and friendly in everything we do.
- **COLLABORATIVE.** We believe that by working in partnership we can pool skills and resources, share learning, and have greater impact.
- **SEX-POSITIVE.** We believe in a sex-positive approach to sexual health and rights that recognises and celebrates sexual pleasure and sexual diversity, prioritises personal agency, and is free of judgment.
8 |[AVERT ANNUAL REPORT 2021–22]
**Our strategy From knowledge to action**
## **THE WAY WE WORK**
**We develop and promote HIV and sexual health content and resources that are accurate, accessible, useful, and actionable. In doing this:**
- **We use learning and evidence from health literacy, behaviour change and digital marketing research and practice to inform our content and approach.**
- **We work through partnerships, as the best way to create high quality, sustainable programmes.**
- **We use our understanding of technology to prioritise inclusive digital approaches, and our knowledge of the context to create realistic solutions.**
- **We prioritise user-centred design principles, working with users to develop products that effectively meet their needs.**
## **STRATEGIC RESPONSE 1**
Increase the HIV and sexual health-related knowledge, skills and confidence of those most at risk of HIV and poor sexual health, and those living with HIV.
We will:
- develop and share targeted digital HIV and sexual health communications.
## **STRATEGIC RESPONSE 2**
Expand and deepen the knowledge, skills and confidence of educators and advocates working on local responses to HIV and sexual health.
## We will:
- develop and share accessible digital knowledge and information resources for educators and advocates.
## **STRATEGIC RESPONSE 3**
Support evidence-based practice among primary HIV and sexual health practitioners.
## ‘‘
I learned more about taking care of myself.
## We will:
- develop and share evidence-based good practice information and resources for practitioners.
Avert.org user, South Africa
AVERT ANNUAL REPORT 2021–22 | 9
## **OUTCOME 1**
The people we reach have gained up-to-date knowledge, skills and confidence to make informed choices to support their own and others’ sexual health.
## **OUTCOME 2**
Targeted educators and advocates have gained up-to-date knowledge, skills and confidence to support quality engagement with their clients or target groups.
## **OUTCOME 3**
Targeted practitioners have gained upto-date knowledge of evidence-based approaches to support local HIV and sexual health responses.
## **RESULT 1**
The people we reach take informed action to support their own and others’ sexual health, reducing HIV and other sexual health infections, and improving physical and mental health among those living with HIV.
## **RESULT 2**
Educators and advocates are effective at their roles, improving the sexual health of the local population.
## **RESULT 3**
Practitioners adopt evidence-based approaches, improving the relevance of primary HIV and sexual health responses.
10 |[AVERT ANNUAL REPORT 2021–22]
The first year of delivering against our 2021–24 global strategy has been one of creating momentum. At the heart of our work was the development and execution of our dynamic new _Be in the KNOW_ website and social media brand which launched at the end of March 2022.
## **Our work in action**
This brand now forms a central part of our wider toolbox of brands, products and projects that provide individuals affected by HIV, educators, and primary health practitioners with up-to-date knowledge, skills and confidence. Through everything we do, the tools we are providing these three key audiences are enabling informed sexual health choices and encouraging evidencebased approaches among advocates and practitioners, leading to better sexual health outcomes.
## ‘‘
The fact that is user friendly and it helps in sex education. In a very friendly manner and not hostile.
## **Be in the KNOW website user, Kenya**
Loving the new look.
**Facebook fan**
AVERT ANNUAL REPORT 2021–22 | 11
**4.5 MILLION PEOPLE** reached through our _Be in the KNOW_ launch campaign
Nearly **213 THOUSAND ENGAGEMENTS** with our _Be in the KNOW_ launch campaign
## **BE IN THE KNOW**
This was the year we launched our influential new online brand, _Be in the KNOW_ . Faced with a shifting digital landscape and changing information needs around sexual health and HIV, we identified an urgent need to reach young people – particularly in East and Southern Africa – with fresh, fun, sex-positive content in ways that they can relate to.
An extensive review of Avert.org with our key audiences informed an 18-month journey of user engagement and comprehensive testing and, in March 2022, _Be in the KNOW_ was unveiled as a unified brand across web and social media. A weeklong promotion to coincide with the launch attracted more than 4.5 million people to the brand and high engagement levels.
In line with the second and third pillars of our 2021–2024 global strategy, the brand also provides evidence-based news and information for community and primary health workers and others on the frontline of HIV and sexual health services for young people.
_Be in the KNOW_ ’s foundations are built on the expertise and learning that we have amassed from running Avert.org, social media channels, and other digital projects over many years. _Be in the KNOW_ builds on years of experience of co-creating content with Avert.org’s target audiences and is backed up by our robust knowledge of data analysis, key word research, search engine optimisation and social media marketing.
We needed to find new ways to communicate about HIV and sexual health and _Be in the KNOW_ reflects a maturation in our approach to increasing health literacy in areas of greatest need. Going forward, the brand will evolve to meet the specific needs of users and we will maintain focus on growing the online _Be in the KNOW_ community to boost health literacy where it is most needed.
## Focusing on our audience
To keep the people who access our resources front of mind, we have used ‘personas’ to shape content. These fictional characters include Lagos factory worker Emmanuel, 24, who has a new girlfriend living with HIV and wonders how this could affect him and their future together. In South Africa, volunteer peer educator Lisa wants to help other young women to aim high and achieve their goals and needs easily accessible, reliable and fun resources to use when talking to them. In Andhra Pradesh, health practitioner Shamik must stay abreast of changes in HIV prevention approaches for men who have sex with men. Deploying personas in this way has meant that all our resources have been made fit for purpose for our core audiences: individuals affected by HIV, educators and primary health practitioners.
12 |[AVERT ANNUAL REPORT 2021–22]
**IN SUB-SAHARAN AFRICA 2,356,258 USERS 5,481,248 PEOPLE REACHED ON FACEBOOK AND INSTAGRAM 732,398 POST ENGAGEMENTS ON FACEBOOK AND INSTAGRAM**
## **AVERT.ORG**
Avert.org continued as a leading online provider of HIV and sexual health information right up until the transition to the new _Be in the KNOW_ brand. Over 85.5% of surveyed users said they had learned something new through their visit. Our content on COVID-19 also proved invaluable to young audiences hungry for reliable information and was viewed by hundreds of thousands of people over the course of the year.
Based on the results of a review and test process, the news service was remodelled during the year to better reflect the information requirements of frontline HIV and sexual health practitioners. Their subsequent feedback led to further tweaks which have gone on to frame _Be in the KNOW_ news and blog content.
Our 2021 World AIDS Day campaign, featuring some of Avert.org’s _Talking HIV_ videos of real-life conversations between people who have been affected by HIV, was seen by more than 430,000 people across our social media platforms.
As successful as Avert.org was, we knew it was vital for us to evolve and adapt so we could remain relevant to our key audiences and our goal. The digital landscape, users’ expectations, and online behaviours have all changed beyond recognition from when Avert.org was first launched. _Be in the KNOW_ is already galvanising new partnerships and investments and, most importantly, reaching those it is designed to serve. We are extremely proud of all Avert.org achieved and look forward to achieving even more with _Be in the KNOW_ .
## ‘‘
I really enjoyed reading some stories and I learn’t more things about how to protect myself from HIV and STIs.
## ‘‘
This is a true fact… I love this platform and I would love to recommend it to every youth out there.
**Facebook fan**
**Avert.org user, Zambia**
AVERT ANNUAL REPORT 2021–22 | 13
## **SOCIAL MEDIA**
To support people along every step of their health literacy journey, we have continued to prioritise our social media presence. As well as acting as core information channels, social media is used by Avert to encourage HIV and sexual health conversations and to co-create projects with the direct input of target audiences.
In sub-Saharan Africa alone in 2021/22, we reached more than five million people through our Facebook and Instagram channels. In this region of the world most affected by HIV, we are achieving serious cut-through with those most at risk – adolescents and young people – especially across East and Southern Africa, reaching them on their platforms of choice.
These audiences are responding well to the thematic approach that we have adopted on key issues such as sexual relationships, HIV treatment and mental health. By highlighting engaging and factual content in ways that chime with them, our channels have become safe spaces for peers to share their experiences and voice their worries.
**12,549,275 USERS OF AVERT.ORG 70% OF USERS MORE LIKELY TO TAKE ACTION**
**IN SOUTH ASIA 4,206,313 USERS 8,341,498 PEOPLE REACHED ON FACEBOOK AND INSTAGRAM 343,907 POST ENGAGEMENTS ON FACEBOOK AND INSTAGRAM**
Our popular _Young Voices_ project – an interactive package of animated videos and supporting materials on sex and relationships created by and for young people in Southern Africa – went from strength to strength when new resources were added in Swahili. Over 72,000 people watched the Swahili videos[2] and engagement levels on social media were high, with more than 340,000 interactions relating to posts about _Young Voices Swahili_ .
The impressive growth of our social media presence this year is a direct result of harnessing our expertise and learning over past years and has enabled us to reach audiences with sharable content that hits home.
## Google grant
Using our proficiency in search engine optimisation as a springboard, we took full advantage of Avert’s Google charity grant this year achieving a strong click-through rate on our Google Ads. The in-kind grant of $612,925 resulted in more than 530,000 new users being channelled to Avert.org’s information pages.
## ‘‘
Chipo must be honest about what she thinks. If he truly loves her he will understand but if not then that must be a red flag to Chipo.
**Instagram comment**
2. People who watched at least 50% of the videos.
14 |[AVERT ANNUAL REPORT 2021–22]
## **YOUNG AFRICA LIVE**
This year saw the start of an ambitious and potentially ground-breaking initiative that will play a big part in delivering on the first of our three 2021–24 strategy responses. _Young Africa Live_ aims to reach 100,000 young people in South Africa with a new approach to helping them make informed choices about their sexual and mental health.
Building on young people’s existing media consumption patterns, it will combine the privacy and anonymity of a WhatsApp chatbot with the peer discussions that occur naturally on powerful social media platforms like Facebook and Instagram. Engaging users with judgement-free content and tailored advice on sexual health and relationships will inform a whole new generation of young people and direct them towards related HIV and STI services.
Through investment from the Elton John AIDS Foundation, Avert is working as content provider hand-in-hand with the project lead, South African technology organisation Praekelt, to get _Young Africa Live_ up and running in 2022. Regional in ambition, the South African trailblazer is integrating into B-Wise, an existing brand tackling similar issues among young people in South Africa and with whom we have been partnering closely.
The collective learning from the different stages of this innovative venture will put Avert in a strong position when it comes to inputting to and helping scale up future nationallevel projects across the region.
## **BOOST AND YOUTH BOOST**
Upskilling community health workers and peer educators to be able to offer high quality care and information to their clients continues to be a strategic priority. This year has seen us grow our investment in _Boost_ , a mobile phone app and online resource doing exactly that in East and Southern Africa. Providing timely and accurate content on HIV, sexual health and COVID-19, _Boost_ has been used by thousands of grassroots health workers in the region. The highly relevant nature of the COVID-19 content was welcomed by many during the pandemic and the resulting rollout of community vaccine programmes.
In Zimbabwe, thanks to co-funding from the Vitol Foundation, Avert has expanded our partnership with national HIV organisation OPHID. We further developed _Boost_ functionality and content over the course of the year. Rollout to 1,700 community outreach agents is taking place from late 2022. Community outreach agents will provide young clients aged 10–24 with information and advice and use new screening tools to support referrals and service uptake.
By providing _Boost_ content in Shona and Ndebele, and generating new content on mental health and female genital schistosomiasis, we will increase community outreach agents’ knowledge, confidence and skills, and support uptake of HIV, sexual health and family planning services.
AVERT ANNUAL REPORT 2021–22 | 15
## Introducing the Boostbot
WhatsApp is ubiquitous across Southern Africa so we created a WhatsApp chatbot version of _Boost_ as a way to expand reach and access to more community health workers. The free service has been piloted in Zimbabwe during the year, with plans to iterate and improve in the coming year.
## **YAYA**
Our new partnership with VSO saw the development of a digital life skills app that will help inform the life, sex and relationship choices of thousands of adolescent girls and young women in two provinces in Mozambique.
The _Yaya_ (Big Sister) app has been co-created with young women in Sofala and Manica provinces to suit low-literacy communities and is a cost-effective home-based learning solution that is relevant across resource- and connectivitychallenged contexts. The collaborative design process provided an important learning opportunity around how to reach marginalised groups with digital approaches in order to support lasting change ( _see spotlight_ ).
You can access the Boostbot on WhatsApp by sending a ‘hi’ message to +1 989 747 1929.
We also expanded the number of _Boost_ users through partnering with KaiOS (the premier operating system for feature phones) and launched a version of the app adapted for use on these cheaper phones, focusing on inclusiveness and affordability. In its first year of operation, the _Boost_ KaiOS app was installed by nearly 6,000 users, with huge potential for future expansion.
## ‘‘
What I love most about _Boost_ is that it is simple but very educating and it will help me so much in my field.
**Loveness, community health worker in Zambia**
16 |[AVERT ANNUAL REPORT 2021–22]
## **VOICE+**
Being able to disseminate appropriate, accessible and up-to-date information on COVID-19 to networks of people living with HIV meant that the _Voice+_ app really came into its own this year. As a knowledge and strategy partner for the initiative, Avert has worked with GNP+ – with funding from UNAIDS and others – to provide trusted content on HIV and COVID-19 alongside digital strategy expertise.
In addition to improving communication between network members, _Voice+_ supports GNP+’s advocacy work by gathering on-the-ground updates from communities and registering their areas of concern.
## ‘‘
I shared it with my boyfriend. I told him that there is this App to go through maybe because there are certain things that I am not comfortable telling him. So after reading on his own definitely he had the idea, was also learning here and there and we talk about protection now.
24-year-old, female, _Be in the KNOW Zambia_ user
## **FEMALE GENITAL SCHISTOSOMIASIS (FGS)**
Affecting around 56 million women and girls in sub-Saharan Africa and the Middle East, FGS is an overlooked condition that can increase the risk of HIV and can lead to serious reproductive health issues.
As a core member of the FGS Integration Group, we are committed to using our resources and competence in health literacy to address the devastating impact of this neglected tropical disease. New user-centred content on FGS is being developed for _Be in the KNOW_ and _Boost_ together with screening tools to support community health workers working with young people in Zimbabwe, to roll out in late 2022.
AVERT ANNUAL REPORT 2021–22 | 17
**WEBINAR How do we maximise the positive potential of digital communications in HIV and sexual health responses? 22 July 2021, 2pm to 3.30pm GMT+1, live on Zoom**
**Find out more and register at www.avert.org/webinar**
## Spotlight on webinar
## :
In July, we held an interactive webinar – _Maximising the positive potential of digital communications in HIV and sexual health responses_ – that attracted over 80 attendees from more than 20 countries. An inspiring panel of experts shared their experience and thoughts on how we deliver digital communication programmes to support progress in the HIV response. The webinar highlighted the challenges involved in monitoring and evaluating health communications projects as well as the importance of digital inclusion and privacy. We plan to stage a similar event in the coming financial year focused on profiling _Boost_ with organisations working with community health workers in East and Southern Africa.
## **BE IN THE KNOW ZAMBIA**
After formative research, participant recruitment, and co-design of a digital communications intervention for young people in 2020, _Be in the KNOW Zambia_ bore fruit this year when we were able to evaluate the results of this action research project involving more than 3,000 participants. Together with in-depth interviews with young people in Zambia about their sexual health needs and concerns, the data provided valuable evidence on the impact of digital content on young people’s knowledge and behaviour.
Results showed that users of the app went on to adopt more positive sexual health choices. These findings were presented at the International Workshop on HIV and Adolescence.[3] An article in the _Journal of Medical Internet Research_[4] also profiled some of the key conclusions from the research, which included an increased level of knowledge related to condom use, a greater intention among users to test for HIV and STIs, and more open communication with partners and peers.
3. Held 29 September to 7 October 2021.
- https://academicmedicaleducation.com/hiv-adolescence-2021
4. Sharma, A., Mwamba, C., N’gandu, M., Kamanga, V., Zoonadi Mendamenda, M., Azgad, Y., Jabbie, Z., Chipungu, J., & Pry, J. M. (2022). Pilot implementation of a user-driven, web-based application designed to improve sexual health knowledge and communication among young Zambians: a mixed method study (Preprint). _Journal of Medical Internet Research, 24_ . https://doi.org/10.2196/37600
**18 |[AVERT ANNUAL REPORT 2021–22]**
## **Project spotlights**
Across all our projects, we use people-centred design principles, evidence and learning, and partnerships to ensure all our work is relevant, engaging and effective – helping people make informed decisions about their health and enabling health workers to support them better. Combined with our understanding of how technology can deliver digital approaches that fit the context, and behaviour change communications, we have created high quality sustainable programmes that are making significant progress to increasing health literacy.
## **PREP CAMPAIGN**
In Southern Africa, young women aged 18–24 are twice as likely to get HIV as men of the same age. Pre-exposure prophylaxis (PrEP) is a prevention tool that they can use on their own terms and offers a big opportunity to prevent HIV infections among this at-risk group.
Supported by Mercury Phoenix Trust, Avert worked with young people in the region to co-produce a social media campaign encouraging young women to access and use PrEP and influencing young men to be allies in the process.
Following interviews with stakeholder organisations in Lesotho, Malawi, South Africa, Zambia and Zimbabwe, 15 young people were recruited to co-design and test the campaign. Campaign components included targeted ads with key messages on Facebook and Instagram, eye-catching graphics, discussion fora and a Q&A web page.
The relevance and appeal of the content to the target audience, together with our expertise in digital HIV communications and social media marketing, meant that the two-week campaign reached over 1.8 million people, 62% of whom were women. High engagement levels saw young people asking lots of questions, curious to know more about PrEP. For many, it was the first time they had heard about it. The Facebook posts in particular provoked lively conversations among users, providing a safe environment to talk about issues that are avoided by many in their communities.
**AVERT ANNUAL REPORT 2021–22 | 19**
## ‘‘
Misconceptions about PrEP may make many youths to stop using prep or not wanting to use PrEP. On top of that lack of full information about PrEP.
## **Co-creation group participant**
The project evaluation and insights gleaned will stand us in good stead for future PrEP awareness campaigns that are already in the pipeline. All graphics from the initiative can be downloaded from _Be in the KNOW_ and they have also been shared with stakeholder organisations working on HIV and public health in Southern Africa to use with their own audiences.
## **CO-CREATING YAYA**
With nearly one in two girls in Mozambique marrying before 18, and many then dropping out of school, literacy skills and knowledge of sexual and reproductive health tend to be poor. The result is that adolescent girls are more likely to experience unplanned pregnancy, physical and sexual violence, and are at greater risk of HIV. We know that informed decision-making in these key areas leads to better health outcomes and a greater chance of economic independence and becoming active, empowered citizens.
VSO’s Eagle project, funded by Global Affairs Canada, was set up to empower adolescent girls to learn and earn but the advent of COVID-19 halted the original programme design and led to an innovative digital element being introduced. Drawing on existing partnerships, VSO brought in Avert to co-create and develop a life skills app to support the sexual and reproductive health of out-of-school, low literacy teenage girls in Sofala and Manica provinces. The resulting app, called _Yaya_ (Big sister), addresses knowledge gaps by offering audio and visual content in the local Ndau language (with Sena and Chiutè versions to follow), via low-cost tablets that are being distributed to 3,000 girls to use at home.
Bringing the intended audience – the girls themselves – into the app’s development process to take part in testing and validating branding, content and user interface design, proved critical. Their involvement ensured not only that content is relevant, culturally sensitive and engaging but also, crucially, that _Yaya_ is easy to navigate for those who are not digitally literate.
This user-centred approach demonstrated that even those with low literacy and no experience of using technology can nevertheless benefit considerably from digital health initiatives. As the project rolls out, we will be working with VSO to capture the learning about how to address longerterm sustainability issues in programming for marginalised groups.
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20 | [AVERT ANNUAL REPORT 2021–22]
The
year ahead
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Building on this year’s successes, we are confident that we can maintain our reputation as a leading provider of quality HIV and sexual health information that informs, inspires, and supports people’s choices and actions. We are starting the new year in a strong financial position with the backing of a number of trusted funders and partners with whom we will be looking to strengthen and broaden our relationships. Several of this year’s projects will continue in the year ahead – including _Young Africa Live_ , _Youth Boost_ and _Yaya_ – and our focus will be on progressing them on schedule and within budget, in line with our responsibilities to donors.
Another key priority is to ensure that the recently launched _Be in the KNOW_ brand responds to and meets the needs of its intended audiences. By keeping track of and evaluating its performance, we will be able to iterate and improve as we continue to add and update content. This will take new funding and joining forces with experts in the field of digital health monitoring and evaluation.
We will continue to scale up _Boost_ as part of our pledge to support community health workers and peer educators working on the frontline of the HIV and sexual health response. The findings from the project evaluation, together with the knowledge we have acquired through developing the _Youth Boost_ platform, will inform this process. We will also be hosting a webinar to raise the profile of _Boost_ with relevant organisations working across East and Southern Africa.
We will continue to follow and respond to the ongoing outbreak of Monkeypox. This viral disease appeared in small but concerning clusters of people in May 2022. Those initially affected all identified as gay or men who have sex with men in the UK; they had not travelled to countries with endemic levels of Monkeypox, such as Nigeria. Since then the number of cases has continued to rise, particularly among gay men and other men who have sex with men in other regions of the world. We are ensuring that we are providing regular evidence-based updates to our audiences across _Be in the KNOW_ channels and will continue to ensure our other platforms such as _Boost_ have content to support prevention, early treatment and vaccination for populations at risk.
Better understanding the impact and change brought about by our programmes remains critical, both to ensure that we are able to adapt and learn and to support our fundraising efforts. We look forward to increasing our investment and commitment in this area in the coming year and collaborating with new partners to help us achieve our goals.
AVERT ANNUAL REPORT 2021–22 | 21
## **Maintaining an effective organisation**
With over 30 years of experience behind us, Avert continues to be flexible, creative and responsive in our strategic approach and communications. This is reflected in the fruitful first year of delivering our 2021–24 Strategic Framework which has positioned us well to carry on widening our reach and impact.
We continue to benefit from a committed and talented staff team of 9. Increased grant commitments have allowed us to now grow the team. With a deliberate strategy to have a diverse team recruited on merit and skilled at engaging with and understanding our audiences and approach, we started the process to add two new members to our project team from South Africa. Both new staff are now hosted with our partner organisation PATA, a South African-registered NGO based in Cape Town.
A further new staff member joined the Fundraising and Partnerships team to support consolidating donor and other stakeholder relationships. Professional development is a core organisational value. So we offered a range of staff training and learning opportunities during the year, including thematic technical sessions on health literacy and mental health, delivered by leaders in their fields such as published academics and United for Global Mental Health.
Maintaining strong external relationships as well as an objective critical lens on the wider changes taking place across the HIV and global health sector is vital for us – especially given our size and specialist focus. Avert is an active member of a wide range of sector networking forums including the UK international development network Bond, the Self-Care Trailblazer Group, the youth-led GenEndIt campaign, StopAIDS, and Funders Concerned About AIDS.
The COVID-19 pandemic has once again influenced and affected the wider global health and HIV sectors as rates of infection, treatment and vaccines remain uneven and the wider syndemic with HIV is still not clear. We have kept steadfast with a proportional and measured response ensuring that we can stay focused on our core mission and objectives.
**----- Start of picture text -----**
22 | [AVERT ANNUAL REPORT 2021–22]
**----- End of picture text -----**
## **Financial summary**
**----- Start of picture text -----**
TOTAL INCOME
FOR THE YEAR
£325 £7,052 £27,686 £6,907
other donations and legacies other donations and legacies
£42,779 £52,085
investment income investment
income
2021–22 2020–21
£1,041,072 £118,579
grants grants
TOTAL INCOME: £1,091,228 TOTAL INCOME: £205,257
**----- End of picture text -----**
Avert would like to acknowledge and thank all the individual donors who continue to support our work as well as thanking the Vitol Foundation, Mercury Phoenix Trust, Gilead Sciences, ViiV Healthcare Positive Action Fund, VSO, The Elton John AIDS Foundation and the Global Network of People Living with HIV for their grant support and partnership.
AVERT ANNUAL REPORT 2021–22 | 23
## AVERT (LIMITED BY GUARANTEE)
## ORGANISATIONAL INFORMATION
## KEY MANAGEMENT PERSONNEL
## TRUSTEES
Sarah Hand, _Chief Executive Officer (CEO)_ Simon Moore, _Director of Communications & Digital Health Strategy_ Kate Harrison, _Director of Partnerships and Fundraising_ Jon Edgell, _Director of Finance and Operations_
Professor Simon Forrest ( _Chair_ ) Anna Becker Emily Hughes Carole Leach-Lemens Beryl Mutonono-Watkiss Lynne Slowey ( _resigned 21 October 2021_ ) Sam Price ( _resigned 29 July 2021_ ) Andrew Walker Max Cuvellier ( _appointed 31 January 2022_ ) Sam Avrett ( _appointed 31 January 2022_ ) Carol Sherman ( _appointed 31 January 2022_ )
BANKERS CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill West Malling, Kent ME19 4JQ
Barclays Bank Plc Leicester LE87 2BB
PRINCIPAL AND REGISTERED OFFICE Platf9rm, Tower Point, 44 North Road Brighton BN1 1YR
## INVESTMENT MANAGERS
J M Finn & Co 25 Copthall Ave, London EC2R 7AH
SOLICITORS Irwin Mitchell Belmont House, Station Way Crawley, West Sussex RH10 1JA
Registered charity number 1074849 Registered company number 03716796
COMPANY SECRETARY Professor Simon Forrest
AUDITORS
Blue Spire Limited, Chartered Accountants Cawley Priory, South Pallant Chichester PO19 1SY
BOARD SECRETARY Kerry Pike
**----- Start of picture text -----**
TOTAL £610,592
EXPENDITURE charitable
FOR THE YEAR activities
2021–22
£78,988
seeking donations,
grants and legacies
**----- End of picture text -----**
£10,675 managing investments
TOTAL EXPENDITURE: **£700,255**
**----- Start of picture text -----**
£579,767
charitable
activities
2020–21
£84,555
fundraising
£13,051
managing investments
**----- End of picture text -----**
TOTAL EXPENDITURE: **£677,373**
**----- Start of picture text -----**
£25,921 £35,447 £126,488
£232,410
Strategic Result 3: R3: Supporting R2: Reaching
Strategic Result 2:
Supporting civil society target populations
Promoting knowledge of
practitioners
community educators
BREAKDOWN
OF EXPENDITURE
AGAINST OUR
CHARITABLE
ACTIVITIES 2021–22 2020–21
£352,261 £417,832
Strategic Result 1: R1: Promoting
Promoting knowledge knowledge
of those at risk and education
**----- End of picture text -----**
24 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## **Structure, governance and management**
The organisation is a charitable company limited by guarantee, incorporated on 16th February 1999 and registered as a charity on 25th March 1999.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Trustees and Senior Management Team have updated the charitable objects following review to ensure they are aligned to the organisation’s new strategy. New Articles of Association were adopted on 21st October 2021.
All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts.
We refer to Trustees throughout but for the purposes of the Companies Act the Trustees are the Directors.
## **APPOINTMENT OF TRUSTEES**
The charity has a single management body, the Board of Trustees, elected by its members. The charity continues to benefit greatly from a talented committed Board. New Trustees are recruited through social media, recruitment advertising or networking. In accordance with the charity’s Articles of Association, the Board may by ordinary resolution appoint a person who is willing to act as a Director.
All new Trustees undertake a full induction programme ensuring that they are aware of their legal obligations under charity and company law. They receive copies of the Articles of Association and the Charity Commission Booklet “CC3 The Essential Trustee”. In the financial year three new Trustees were recruited to replace those due to retire later and build skills to support the new strategy.
The Board of Trustees meets quarterly with the CEO and other management staff to review finances, progress and performance, consider risk, strategy and going concerns. Trustee attendance is always high at 87% and above. In addition individual Trustees with specific skill sets from time-to-time work directly with the CEO and members of the management team on specific projects that require their expertise such as the Fundraising and Partnerships Technical Working Group. This group meets to provide support and strategic direction to the Fundraising and Partnerships Team.
Once a year, Trustees come together with the Senior Management Team for an away day – providing an opportunity for more detailed work and training. This year’s Trustee away day focused on reviewing progress against the current strategy and preparing the charity for income growth. Trustees regularly consider the latest guidance from the Charity Commission and other relevant bodies on good practice. Trustees are committed to personal development through their careers and voluntary work, and a record of training is maintained.
In line with the organisational Conflict of Interest policy, all Trustees are required to complete the Conflict of Interest, Related
Party Transaction and Annual Declaration form for each year that they are in office.
## **REMUNERATION POLICY FOR KEY MANAGEMENT PERSONNEL**
The pay and remuneration of the charity’s key management personnel is established through job evaluation, sector benchmarking, availability of funding, recruitment advertising, individuals’ skills, knowledge and experience, and relevant salary surveys comparison. The CEO, together with the Board, reviews budget availability for all appointments. The Chair of the Board reviews the remuneration of the CEO.
The charity has a staff handbook that contains all necessary human resource and employment policies, including a remuneration policy. The handbook is reviewed and updated regularly by external employment law specialists. The charity takes the safeguarding of its employees and the people we work with seriously. All staff are asked to sign a code of conduct when joining the organisation and are provided with regular training on safeguarding. The charity’s safeguarding policy is available to the public.
## **ORGANISATION AND DECISION-MAKING**
The CEO is responsible for the day-to-day operations, compliance and delivery of the charity’s strategy and is accountable to the Board of Trustees. Working closely with the Senior Management Team, decisions are taken to ensure the successful delivery of the agreed annual work plans, budgets, fundraising priorities and activities. Income, spend and performance are reviewed on a quarterly basis and any corrective actions taken are shared with the Trustees to keep projects on track and spend within budget. Staff are recruited into roles identified as key to the organisation’s current strategic focus. Any additional skills required to support short-term activity, such as digital web development and design are hired in on a consultancy/contractor basis. Projected growth in staffing numbers is anticipated during Q3 of the new financial year to align with the growth in donor-funded activity. Additional capacity will also be added to the Fundraising and Partnerships team following the resignation of the Director of Partnerships and Fundraising in August of the new financial year. The decision was taken not to immediately recruit for another Director, opting instead to add further capacity at the Manager level.
## **OBJECTIVES**
The objects of the charity are advancement of health worldwide in all areas specific to HIV and related conditions and to address the social determinants. The charity does this by providing activities that will include, but not limited to, improving knowledge, awareness, attitudes, practice and ability through informing, educating, motivating and influencing.
In pursuance of the objects, for the public benefit, the staff and Trustees have undertaken the activities outlined in this report and with regard to the Charity Commission’s guidance on public benefit.
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 25
## **Fundraising and partnerships**
Avert has a well aligned fundraising and partnership strategy in place which will continue to guide our income pursuits. The charity has designated fundraising staff who lead on all new income and business opportunities with the Senior Management Team.
Our income strategy is based around three central routes: trust and foundations, institutional donors, and building partnerships with other organisations we aim to either sub to or bid for new work together on. This year we saw significant activity under partnerships and trust and foundations – building new relationships and increasing support from existing funders. After an extensive concept development phase, we were delighted to have agreed the plan for _Young Africa Live_ with Praekelt and the Elton John AIDS Foundation. We grew our investments from existing valued funders The Vitol Foundation, Mercury Phoenix Trust and Gilead Sciences. In addition we started work on new projects with GNP+ and VSO – both requiring us to bring our technical expertise and experience to deliver new digital solutions.
We recognise that we have greatly benefited from the grantmaking foundation arms of a number of pharmaceutical companies who support the HIV response, health education, self-care and health literacy. Growing our income in this area remains a priority. Their support has allowed us to develop _Boost_ , invest in _Be in the KNOW_ , redesign our news service and ensured we could deliver COVID-19 content to our millions of users exactly when they needed it. The charity has no conflict of interest concerns relating to these funding relationships. There is no question that our values, editorial independence, or impartiality are compromised by these funding relationships.
Avert continues to benefit from the kind donations from a small but committed number of individual donors who have supported us now for a number of years.
Avert’s fundraising activities adhere to the following principles:
- All funds raised through restricted fundraising activities will be spent in line with donor agreements.
- In all cases, funds will be spent in accordance with the organisation’s mission and purpose.
- All personal information collected by Avert will be treated as confidential and will not be shared with third parties without the direct permission of the individual.
- Avert does not engage in telephone or door-to door fundraising.
- Avert is registered with and abides by the Fundraising Regulator’s code of conduct.
We launched our new organisation website Avert.info in April 2022. Having a designated organisational site and social channels for the first time will allow us to profile our work and partnerships more effectively as well as sharing opinion pieces, news and blogs to others working across the HIV and sexual health sector.
26 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## **Finance report**
The charity’s key financial objective for the year was to continue work to diversify the funding base and reduce the percentage of income required from the charity’s reserves. This objective was achieved. During the year we raised over £1 million in new funds, a significant increase in comparison to previous years. Much of this income will go forward to fund our activity in FY23.
The total income for the year was £1,091,228. The total cost for raising funds was £89,663 (slightly lower than the previous year) and includes the costs related to managing the charity’s expendable endowment fund which supports its reserves. Restricted income is identified as such and managed in accordance with the donor’s terms and conditions of grant. No compliance issues arose in the management and handling of restricted funds.
Total expenditure for the year was £700,255 which is a 3% increase on last year (and 5% increase in charitable activities expenditure). Approximately half of the charitable expenditure was from restricted funds.
The Trustees continue to review the operational plans for the year and the value of the work planned against the wider vision and financial security of the charity before committing unrestricted reserves. They understand that investment in certain activity is necessary to secure the interest and partnership of new funders and that new funding can take up to three years to secure from some trusts and foundations.
The charity adopts a prudent financial policy that aims to ensure that all activities undertaken are efficiently managed in accordance with approved budgets and good practice. All expenditure is monitored and payments processed through a system that endeavours to ensure that any possibility of error is minimised.
Although it continues to be likely that the use of reserves will be required in the future, the Trustees have approved a near breakeven budget for the coming year incorporating challenging yet achievable new income targets.
Financial KPIs are in place that are monitored and reported on quarterly. They include tracking the percentage of cost share required on grants, salary recovery from restricted funds, and deficit percentage.
## **PRINCIPAL RISKS AND UNCERTAINTIES**
The Trustees perform a review to identify the major risks to which the charity is exposed on an annual basis and have established systems and procedures to mitigate these risks. These risks include the possibility of volatility in the investment market affecting the charity’s endowment fund which forms its reserves; funder commitment to the HIV response; the ongoing uncertainty created by the COVID-19 pandemic – affecting staff and operations; a serious technology failing in the hosting of our digital products and platforms; negative external publicity affecting how our users engage in our digital materials; failing to deliver on contractual obligations to donors; a diverse donor portfolio; and retention and development of staff.
As we go into the new financial year we have a strong pipeline which we hope will maintain our successful fundraising in the coming year. We have introduced strong programme management practices to guide the implementation of all our work and ensure strong donor reporting and compliance.
## **INVESTMENTS AND RESERVES**
The charity holds flexible relevant reserves and investment policies that are reviewed annually during budget setting. The charity currently holds an expendable endowment, the purpose of which is to support the charity to deliver on its charitable objects. This endowment was gifted to the charity by its founding Directors at the time of the charity’s formation.
The Trustees have taken the decision to ensure all funds held by the charity are well invested to ensure a maximum return approach whilst maintaining a low to medium risk investment portfolio.
Avert’s assets are invested in line with its aims and values. The Trustees do not wish to adopt an exclusionary policy, but individual investments may be excluded if perceived to conflict with the charity’s purpose. Specific restrictions can be imposed upon the Investment Fund Manager at any time by the Trustees. The current restrictions are:
- No one stock holding should represent over 5% of the value of the whole portfolio.
- If invested in any pharmaceutical stocks at least two must be held.
The Investment Fund Manager manages the assets on a discretionary basis in line with this policy. The Investment Fund Manager provides a detailed monthly valuation statement including all investments bought and sold and meets with the Board once a year to review the overall strategy and portfolio. Performance of the portfolio and the Investment Fund Manager is monitored annually against agreed market benchmarks as below.
The performance benchmark used is RPI +2%, and the 75% FTSE All Share Index/25% FTSE UK Gilt Index. The Board is satisfied the Investment Fund Manager has consistently exceeded these performance benchmarks since appointment. Despite volatility in the investment markets, Avert’s fund ended the year valued at £1,316,539 gaining approximately 4% in value and 3% in yield.
The charity operates with a growing diverse and sustainable financial model supported by strong reserves. The Trustees have agreed a set of financial cut-off points to which the reserves can be used to support the annual operational costs – supporting growth and investment without jeopardizing financial security and SORP compliance.
At 31st March 2022 the charity’s total funds amounted to £1,928,314 with unrestricted reserves in deficit of £78,907. The deficit on free reserves at the balance sheet date arises due to the timing of the recognition of liabilities and the transfer of funds from the endowment fund. A restricted funds total of £687,799
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 27
represented by 8 outstanding grants (2021: £23,696 represented by 4 outstanding grants) will be carried forward into the new year.
The charity has a free reserves target equivalent to 3 months of expenditure (as measured in the previous year’s annual accounts). The charity will take steps to work towards achieving the free reserves target and, in the event that this is achieved, budgets will be set to ensure reserves are maintained within a range of +/- 33% of target on an annual basis (ie. equivalent to 2 to 4 months of expenditure, or +/- 30 days).
## **LIABILITIES AND GRANT COMMITMENTS**
Avert has a sub-agreement in place with OPHID in Zimbabwe funded under the Vitol Foundation. All funds to date have been transferred in accordance with the sub-agreement and will be reported and closed out on in 2023. There are no accrued liabilities at the year-end on grant commitments.
Avert is now fully extracted from the lease on its previous offices in Lovers Walk, Brighton, and now operates a hybrid office/home working model with a flexible annual contract with Platform 9, a shared working space in Brighton and Hove. The contract with Platform 9 was reviewed at the end of the year and renewed in April 2022.
28 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## **Statement of Trustee responsibility**
The Trustees (who are also Directors of Avert for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **APPOINTMENT OF AUDITORS**
The charity reappointed Blue Spire Limited as the charity’s auditors for the year under review.
Blue Spire Limited have expressed their willingness to stand for reappointment and a resolution proposing their reappointment will be put forward at the annual general meeting of the charity.
## **SMALL COMPANIES PROVISIONS**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Trustees and signed on their behalf.
Professor Simon Forrest _Chairman_
14th October 2022
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 29
## **Independent auditor’s report to the members of Avert**
## **OPINION**
We have audited the financial statements of Avert (the ‘charitable company’) for the year ended 31st March 2022 which comprise Statement of Financial Activities, Balance Sheet, 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 United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31st March 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **BASIS FOR OPINION**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **CONCLUSIONS RELATING TO GOING CONCERN**
In auditing the financial statements, we have concluded that the Trustees’ 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 not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **OTHER INFORMATION**
The other information comprises the information included in the Trustees’ report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements 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 this regard.
## **OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ report (incorporating the Directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Directors’ report has been prepared in accordance with applicable legal requirements.
## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Directors’ remuneration specified by law are not made; or
30 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Directors’ report and from the requirement to prepare a strategic report.
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the Statement of Trustee Responsibility, the Trustees (who are also the Directors of the charitable company for the purposes of company law) 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 misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, 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 misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- enquiry of management, those charged with governance around actual and potential litigation and claims;
- enquiry of entity staff to identify any instances of noncompliance with laws and regulations;
- reviewing minutes of meetings of those charged with governance;
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/ Standards-and-guidance-for-auditors/Auditors-responsibilitiesfor-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.
## **USE OF OUR REPORT**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Geoffrey Frost _BSc (Hons) FCA (Senior Statutory Auditor) For and on behalf of Blue Spire Limited, Statutory Auditor_ 27th October 2022
Cawley Priory South Pallant Chichester West Sussex PO19 7UY
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 31
## **Statement of financial activity**
**(INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
||||||2022)|2021)|
|---|---|---|---|---|---|---|
|||Unrestricted)|Restricted)|Endowment)|Total)|Total)|
|||Funds)|Funds)|Funds)|Funds)|Funds)|
||Note|£)|£)|£)|£)|£)|
|INCOME AND ENDOWMENTS FROM:|||||||
|Donations and legacies|1|7,052)|1,041,072)|–)|1,048,124)|125,486)|
|Charitable activities|2|–)|–)|–)|–)|26,982)|
|Investments|3|42,779)|–)|–)|42,779)|52,085)|
|Other income|4|325)|–)|–)|325)|704)|
|||————————|————————|————————|————————|————————|
|Total||50,156)|1,041,072)|–)|1,091,228)|205,257)|
|||————————|————————|————————|————————|————————|
|EXPENDITURE ON:|||||||
|Raising funds – Investment management|5|–)|–)|10,675)|10,675)|13,051)|
|Raising funds – Seeking funds|5|78,988)|–)|–)|78,988)|84,555)|
|Charitable activities|6|278,147)|332,445)|–)|610,592)|579,767)|
|||————————|————————|————————|————————|————————|
|Total||357,135)|332,445)|10,675)|700,255)|677,373)|
|||————————|————————|————————|————————|————————|
|Net gains/(losses) on investment assets||–)|–)|65,249)|65,249)|326,673)|
|||————————|————————|————————|————————|————————|
|Net Income/(expenditure)||(306,979)|708,627)|54,574)|456,222)|(145,443)|
|Transfers between funds|19|151,749)|(44,524)|(107,225)|–)|–)|
|||————————|————————|————————|————————|————————|
|Net movement in funds||(155,230)|664,103)|(52,651)|456,222)|(145,443)|
|RECONCILIATION OF FUNDS|||||||
|Total funds brought forward|19|79,206)|23,696)|1,369,190)|1,472,092)|1,617,535)|
|||————————|————————|————————|————————|————————|
|Total funds carried forward|19|(76,024)|687,799)|1,316,539)|1,928,314)|1,472,092)|
|||————————
————————|————————
————————|————————
————————|————————
————————|————————
————————|
The charity has no recognised gains or losses other than those dealt with in the statement of financial activities. All of the above results are derived from continuing activities.
32 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## **Balance sheet**
## **BALANCE SHEET AS AT 31 MARCH 2022**
||||2022||2021|
|---|---|---|---|---|---|
||Note|£)|£)|£|£|
|FIXED ASSETS||||||
|Intangible assets|13|118,565)||–||
|Tangible assets|14|2,883)||4,807||
|Investments|15|1,316,539)||1,369,190||
|||————————||————————||
||||1,437,987)||1,373,997|
|CURRENT ASSETS||||||
|Debtors|16|414,991)||8,913||
|Cash at hand and in bank||118,999)||148,229||
|||————————||————————||
|Total current assets||533,990)||157,142||
|CURRENT LIABILITIES||||||
|Creditors: amounts falling due within one year|17|43,663)||59,047||
|||————————||————————||
|Net current assets/(liabilities)|||490,327)||98,095|
||||————————||————————|
|Net assets/(liabilities)|||1,928,314)||1,472,092|
||||————————
————————||————————
————————|
|THE FUNDS OF THE CHARITY||||||
|Endowment funds|19|||||
|Expendable endowment||775,113)||837,033||
|Fair value reserve||541,426)||532,157||
|||————————||————————||
||||1,316,539)||1,369,190|
|Restricted funds|19||687,799)||23,696|
|Unrestricted funds||||||
|Designated Funds||2,883)||4,807||
|General Funds||(78,907)||74,399||
|||————————||————————||
|Total unrestricted funds|19||(76,024)||79,206|
||||————————||————————|
|Total charity funds|||1,928,314)||1,472,092|
||||————————
————————||————————
————————|
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 31 to 49 were approved and authorised for issue by the trustees on 20th October 2022 and signed on their behalf by:
Professor Simon Forrest _Chairman Avert_
Registered Charity Number 1074849 Registered Company Number 03716796
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 33
## **Statement of cash flows**
|||2022||2021|
|---|---|---|---|---|
||£)|£)|£)|£)|
|Net cash fow from operating activities (see below)||(71,839)||(466,004)|
|Cash fow from investing activities|||||
|Purchase of intangible fxed assets|(118,565)||–||
|Purchase of tangible fxed assets|–)||(788)||
|Purchase of investments|–)||–)||
|Proceeds from sales of investments|183,869)||373,492)||
|Receipts from sale of tangible fxed assets|495)||–)||
|Investment income|42,779)||52,085)||
||————————||————————||
|Net cash fow from investing activities||108,578)||424,789)|
|||————————||————————|
|Net increase/(decrease) in cash and cash equivalents||36,739)||(41,215)|
|Cash and cash equivalents at 1 April 2021||168,615)||209,830)|
|||————————||————————|
|Cash and cash equivalents at 31 March 2022||205,354)||168,615)|
|||————————
————————||————————
————————|
|Cash and cash equivalents consist of:|||||
|Cash at bank and in hand||118,999)||148,229)|
|Cash held within investments||86,355)||20,386)|
|||————————||————————|
|Cash and cash equivalents at 31 March 2022||205,354)||168,615)|
|||————————
————————||————————
————————|
|Reconciliation of net income to net cash fow from operating|activities||||
|||2022||2021|
||£)|£)|£)|£)|
|Net income for the period||456,222)||(145,443)|
|Adjusted for:|||||
|Investment income|(42,779)||(52,085)||
|(Gains)/losses on investments|(65,249)||(326,673)||
|Depreciation and impairment of tangible fxed assets|1,273)||2,250)||
|Loss/(gain) on disposal of fxed assets|156)||–)||
|Decrease/(increase) in debtors|(406,078)||36,744)||
|Increase/(decrease) in creditors|(15,384)||19,203)||
||————————||————————||
|||(528,061)||(320,561)|
|||————————||————————|
|||(71,839)||(466,004)|
|||————————||————————|
|Analysis of changes in net debt|||||
|||2022)||2021)|
|||Cash and cash)||Cash and cash)|
|||equivalents)||equivalents)|
|||£)||£)|
|Total net debt brought forward||168,615)||209,830)|
|Cash fows||36,739)||(41,215)|
|||————————||————————|
|Total net debt carried forward||205,354)||168,615)|
|||————————
————————||————————
————————|
34 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## **Accounting policies**
## **GENERAL INFORMATION, SCOPE AND BASIS OF THE FINANCIAL STATEMENTS**
Avert is an incorporated charity, limited by guarantee, incorporated in England with the company number 03716796. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information page of these financial statements. The nature of the charity’s operations and principal activities are outlined in the Trustees’ report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **INCOMING RESOURCES**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Investment income is earned through holding assets for investment purposes such as shares and cash deposits. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.
## **RESOURCES EXPENDED**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- costs of raising funds; which includes the costs of organising events and investment management fees;
- expenditure on charitable activities; which includes grants made to beneficiaries and costs incurred to support those activities.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
## Support cost allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
The analysis of these costs is included in Note 7 and has been included on the following basis in the current year.
|cluded on the following basis in the current year.||
|---|---|
|Promoting knowledge of those at risk|40%|
|Promoting knowledge of community educators|40%|
|Supporting practitioners|20%|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 35
The analysis of these costs has been included on the following basis in the comparative year:
|the comparative year:||
|---|---|
|Promoting knowledge and education|60%|
|Harness innovation|20%|
|Supporting civil society|20%|
## **FIXED ASSET INVESTMENTS**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains/(losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.
## **EMPLOYEE BENEFITS**
When employees have rendered service to the charity, shortterm employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
## **DEBTORS AND CREDITORS RECEIVABLE/ PAYABLE WITHIN ONE YEAR**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **PENSION COSTS**
The charity operates a defined contribution pension scheme. Contributions to the scheme are charged to the statement of financial activities on a payable basis.
## **VAT**
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SoFA.
## **TAXATION**
The charity is considered to pass the tests set out in sections 466 to 493 Corporation Tax Act 2010 (CTA 2010), as such no income tax is payable on the charity’s activities.
## **INTANGIBLE ASSETS**
Identifiable development expenditure on the website is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:
Website 25% Straight line
_No amortisation has been included in the year ended 31 March 2022 as the new website was not fully completed and in use at the balance sheet date._
## **CASH AND CASH EQUIVALENTS**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In addition it includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.
## **FUND ACCOUNTING**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which were gifted to the charity to be held for income generation and applied in furtherance of the charity’s objects. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
Further details of each fund are disclosed in Note 20.
## **FIXED ASSETS**
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
## **GOING CONCERN**
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Office equipment 25% straight line
36 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## **Notes to the financial statements**
## 1. Donations and legacies
||||||
|---|---|---|---|---|
|1. Donations and legacies||||2022|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Donations|7,052|–|–|7,052|
|Grants|–|1,041,072|–|1,041,072|
||————————|————————|————————|————————|
||7,052|1,041,072|–|1,048,124|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Donations|6,907|–|–|6,907|
|Grants|–|118,579|–|118,579|
||————————|————————|————————|————————|
||6,907|118,579|–|125,486|
||————————
————————|————————
————————|————————
————————|————————
————————|
|2. Charitable activities||||2022|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Earned income|–|–|–|–|
||————————|————————|————————|————————|
||–|–|–|–|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Earned income|26,982|–|–|26,982|
||————————|————————|————————|————————|
||26,982|–|–|26,982|
||————————
————————|————————
————————|————————
————————|————————
————————|
|3. Investments||||2022|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Bank interest|4|–|–|4|
|Income from investment holdings|42,775|–|–|42,775|
||————————|————————|————————|————————|
||42,779|–|–|42,779|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Bank interest|5|–|–|5|
|Income from investment holdings|52,080|–|–|52,080|
||————————|————————|————————|————————|
||52,085|–|–|52,085|
||————————
————————|————————
————————|————————
————————|————————
————————|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 37
## 4. Other income
||||||
|---|---|---|---|---|
|4. Other income||||2022|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Other income|325|–|–|325|
|Furlough receipts|–|–|–|–|
||————————|————————|————————|————————|
||325|–|–|325|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Other income|–|–|–|–|
|Furlough receipts|704|–|–|704|
||————————|————————|————————|————————|
||704|–|–|704|
||————————
————————|————————
————————|————————
————————|————————
————————|
|5. Raising funds||||2022|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|_Investment management_|||||
|Investment management fees|–|–|10,675|10,675|
||————————|————————|————————|————————|
||–|–|10,675|10,675|
|_Cost of seeking donations, grants and legacies_|||||
|Staff costs|69,661|–|–|69,661|
|Other costs|9,327|–|–|9,327|
||————————|————————|————————|————————|
||78,988|–|–|78,988|
||————————|————————|————————|————————|
||78,988|–|10,675|89,663|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|_Investment management_|||||
|Investment management fees|–|–|13,051|13,051|
||————————|————————|————————|————————|
||–|–|13,051|13,051|
||————————|————————|————————|————————|
|_Cost of seeking donations, grants and legacies_|||||
|Staff costs|69,803|–|–|69,803|
|Other costs|14,752|–|–|14,752|
||————————|————————|————————|————————|
||84,555|–|–|84,555|
||————————|————————|————————|————————|
||84,555|–|13,051|97,606|
||————————
————————|————————
————————|————————
————————|————————
————————|
38 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
|6. Charitable activities||||2022|
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|_Promoting knowledge of those at risk_|||||
|Staff costs|75,504|125,811|–|201,315|
|Other direct costs|41,228|60,716|–|101,944|
|Support and governance costs|49,002|–|–|49,002|
||————————|————————|————————|————————|
||165,734|186,527|–|352,261|
||————————|————————|————————|————————|
|_Promoting knowledge of educators_|||||
|Grants (see note 8)|–|82,321|–|82,321|
|Staff costs|25,168|41,937|–|67,105|
|Other direct costs|13,743|20,239|–|33,982|
|Support and governance costs|49,002|–|–|49,002|
||————————|————————|————————|————————|
||87,913|144,497|–|232,410|
||————————|————————|————————|————————|
|_Supporting practitioners_|||||
|Staff costs|–|1,421|–|1,421|
|Support and governance costs|24,500|–|–|24,500|
||————————|————————|————————|————————|
||24,500|1,421|–|25,921|
||————————|————————|————————|————————|
||278,147|332,445|–|610,592|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|_Promote knowledge and education on HIV_|||||
|Grants (see note 8)|–|38,366|–|38,366|
|Staff costs|152,055|45,803|–|197,858|
|Other direct costs|42,753|41,125|–|83,878|
|Support and governance costs|97,730|–|–|97,730|
||————————|————————|————————|————————|
||292,538|125,294|–|417,832|
||————————|————————|————————|————————|
|_Harness innovation to reach those that need to know_|||||
|Staff costs|50,685|15,268|–|65,953|
|Other direct costs|14,251|13,708|–|27,959|
|Support and governance costs|32,576|–|–|32,576|
||————————|————————|————————|————————|
||97,512|28,976|–|126,488|
||————————|————————|————————|————————|
|_Supporting effective civil society responses which inform and empower_|||||
|Grants (see note 8)|–|1,200|–|1,200|
|Staff costs|–|1,671|–|1,671|
|Support and governance costs|32,576|–|–|32,576|
||————————|————————|————————|————————|
||32,576|2,871|–|35,447|
||————————|————————|————————|————————|
||422,626|157,141|–|579,767|
||————————
————————|————————
————————|————————
————————|————————
————————|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 39
## 7. Support and governance costs
||||||
|---|---|---|---|---|
|7. Support and governance costs||||2022|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Staff costs|61,386|–|–|61,386|
|Premises|34,485|–|–|34,485|
|Recruitment and training|2,391|–|–|2,391|
|Travel, conference and events|329|–|–|329|
|Security including Legal and HR|3,362|–|–|3,362|
|Printing, postage and stationery|4,367|–|–|4,367|
|Telephone|1,233|–|–|1,233|
|Computer costs and equipment hire|2,561|–|–|2,561|
|General offce and offce moving expenses|1,700|–|–|1,700|
|Insurance|1,456|–|–|1,456|
|Subscriptions|2,698|–|–|2,698|
|Depreciation|1,273|–|–|1,273|
|Governance:|||||
|Audit fee|5,250|–|–|5,250|
|Trustee training and expenses|-|–|–|-|
|Strategic Development|13|–|–|13|
||————————|————————|————————|————————|
||122,504|–|–|122,504|
|_Allocation of support costs_|————————
————————|————————
————————|————————
————————|————————
————————|
|Promote knowledge of those at risk|49,002|–|–|49,002|
|Promoting knowledge of community educators|49,002|–|–|49,002|
|Supporting practitioners|24,500|–|–|24,500|
||————————|————————|————————|————————|
||122,504|–|–|122,504|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Staff costs|59,416|–|–|59,416|
|Premises|37,688|–|–|37,688|
|Recruitment and training|661|–|–|661|
|Travel, conference and events|2,557|–|–|2,557|
|Security including Legal and HR|2,329|–|–|2,329|
|Printing, postage and stationery|3,987|–|–|3,987|
|Telephone|2,880|–|–|2,880|
|Computer costs and equipment hire|3,625|–|–|3,625|
|General offce and offce moving expenses|32,615|–|–|32,615|
|Insurance|2,334|–|–|2,334|
|Subscriptions|4,182|–|–|4,182|
|Depreciation|2,250|–|–|2,250|
|Governance:|||||
|Audit fee|5,250|–|–|5,250|
|Trustee training and expenses|20|–|–|20|
|Strategic Development|3,088|–|–|3,088|
||————————|————————|————————|————————|
||162,882|–|–|162,882|
|_Allocation of support costs_|————————
————————|————————
————————|————————
————————|————————
————————|
|Promote knowledge and education|97,730|–|–|97,730|
|Harness innovation|32,576|–|–|32,576|
|Supporting civil society|32,576|–|–|32,576|
||————————|————————|————————|————————|
||162,882|–|–|162,882|
||————————
————————|————————
————————|————————
————————|————————
————————|
40 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
|8. Analysis of grants|2022|2021|
|---|---|---|
||Total|Total|
||Funds|Funds|
||£|£|
|Grants to institutions|||
|Zimbabwe – OPHID|82,321|2,281|
|Zambia – CIDRZ|–|36,085|
|Malawi – Umunthu Foundation|–|1,200|
||————————|————————|
||82,321|39,566|
||————————
————————|————————
————————|
## Future commitments
The charity budgets for instalments of multi year grants that have not yet been approved. These future commitments are not contractual as the amounts are not part of the charity’s formal grant offer, and are subject to the grantee satisfying the charity’s monitoring requirements and showing that they are making satisfactory progress towards meeting the grant’s objectives. At the balance sheet date the charity had no obligations for future instalments of grants.
## 9. Auditors’ remuneration
||||||
|---|---|---|---|---|
|9. Auditors’ remuneration||||2022|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Auditors’ remuneration – audit|5,250|–|–|5,250|
||————————
————————|————————
————————|————————
————————|————————
————————|
|||||2021|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Auditors’ remuneration – audit|5,250|–|–|5,250|
||————————
————————|————————
————————|————————
————————|————————
————————|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 41
|10. Wages and salary cost|2022|2021|
|---|---|---|
||Total|Total|
||Funds|Funds|
||£|£|
|Gross wages|333,751|327,732|
|Employer’s national insurance costs (inclusive of employer national insurance allowance)|30,666|31,216|
|Employer’s pension contributions|26,657|26,387|
||————————|————————|
||391,074|385,335|
||————————
————————|————————
————————|
|Employer’s national insurance costs (inclusive of employer national insurance allowance)
Employer’s pension contributions|30,666
26,657
————————
391,074
————————
————————|31,216
26,387
————————
385,335
————————
————————|
|---|---|---|
|One employee (2021: One employee) received employee benefts inclusive of social|||
|security contributions (excluding employer pension costs) in the range £60,000 to|||
|£70,000.|||
|The average number of employees was:|||
|Administration of charitable activities|9|9|
||————————|————————|
||9|9|
||————————
————————|————————
————————|
## 11. Pension scheme
The charity operates a defined contribution pension scheme for its employees. The total payable for the year under review was £26,657 (2021: £26,387). £4,169 (2021: £3,556) was outstanding at the end of the financial year.
## 12. Related party transactions
None of the Trustees received any remuneration during the year under review (2021: £nil). No amounts (2021: £20) were reimbursed to or paid on behalf of the Trustees.
No donations (2021: £nil) were received from the charity’s Trustees in the year under review.
During the year under review the charity reimbursed or paid expenses on behalf of the four (2021: four) key management personnel incurred in the performance of their duties totalling £5,301 (2021: £7,384).
At the end of the reporting year the charity had four key management personnel comprising the CEO, Director of Communications and Digital Health Strategy, Director of Finance and Operations and Director of Partnerships and Fundraising. The total employee benefits, inclusive of employer’s national insurance and pension contributions, received by those key management personnel amounted to £220,491 (2021: £216,339). The Director of Partnerships and Fundraising resigned in August 2022. Avert is hiring a new recruit at project management level.
42 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
|13. Intangible fxed assets|Website)|Total)|
|---|---|---|
||£)|£)|
|_Cost_|||
|At 1 April 2021|–)|–)|
|Additions|118,565)|118,565)|
|Disposals|–)|–)|
||————————|————————|
|At 31 March 2022|118,565)|118,565)|
||————————|————————|
|_Amortisation_|||
|At 1 April 2021|–)|–)|
|Charge for the year|–)|–)|
|On disposals|–)|–)|
||————————|————————|
|At 31 March 2022|–)|–)|
||————————|————————|
|Net book value at 31 March 2022|118,565)|118,565)|
||————————
————————|————————
————————|
|Net book value at 31 March 2021|–)|–)|
||————————
————————|————————
————————|
|14. Tangible fxed assets|Offce)||
||equipment)|Total)|
||£)|£)|
|_Cost_|||
|At 1 April 2021|8,955)|8,955)|
|Additions|–)|–)|
|Disposals|(1,659)|(1,659)|
||————————|————————|
|At 31 March 2022|7,296)|7,296)|
||————————|————————|
|_Depreciation_|||
|Accumulated at 1 April 2021|4,148)|4,148)|
|Charge for the year|1,273)|1,273)|
|On disposals|(1,008)|(1,008)|
||————————|————————|
|At 31 March 2022|4,413)|4,413)|
||————————|————————|
|Net book value at 31 March 2022|2,883)|2,883)|
||————————
————————|————————
————————|
|Net book value at 31 March 2021|4,807)|4,807)|
||————————
————————|————————
————————|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 43
## 15. Fixed assets investments
||||||
|---|---|---|---|---|
|15. Fixed assets investments|||2022)|2021)|
||Listed)||Total)|Total)|
||investments)|Cash)|Funds)|Funds)|
||£)|£)|£)|£)|
|_Reconciliation of movement on investments_|||||
|Carrying (market) value brought forward|1,348,804)|20,386)|1,369,190)|1,543,488)|
|Additions at cost|–)|–)|–)|–)|
|Disposals at carrying value|(127,092)|–)|(127,092)|(367,053)|
|Gain/(Loss) on revaluation|8,472)|–)|8,472)|320,234)|
|Net increase/(decrease) in cash|–)|65,969)|65,969)|(127,479)|
||————————|————————|————————|————————|
|Carrying (market) value carried forward|1,230,184)|86,355)|1,316,539)|1,369,190)|
||————————
————————|————————
————————|————————
————————|————————
————————|
|_Gains_/_(losses) on investments_|||||
|Unrealised (from above)|8,472)|–)|8,472)|320,234)|
|Realised on disposal of fxed asset investments|56,777)|–)|56,777)|6,439)|
||————————|————————|————————|————————|
||65,249)|–)|65,249)|326,673)|
||————————
————————|————————
————————|————————
————————|————————
————————|
|_The investments above are analysed as follows:_|||||
|Listed investments|1,230,184)|–)|1,230,184)|1,348,804)|
|Cash or cash equivalents|–)|86,355)|86,355)|20,386)|
||————————|————————|————————|————————|
||1,230,184)|86,355)|1,316,539)|1,369,190)|
||————————
————————|————————
————————|————————
————————|————————
————————|
## 16. Debtors
||||
|---|---|---|
|16. Debtors|2022)|2021)|
||Total)|Total)|
||Funds)|Funds)|
||£)|£)|
|Trade debtors|133,392)|–)|
|Other debtors|7,164)|5,914)|
|Prepayments|7,628)|2,843)|
|Accrued income receivable within one year|266,807)|156)|
||————————|————————|
||414,991)|8,913)|
||————————
————————|————————
————————|
Accrued income consists of £266,748 of grant income receivable and £59 of gift aid recoverable with £133,392 of grant funding included as trade debtors. In the comparative year accrued income consisted of gift aid of £55 and Coronavirus Job Retention Scheme of £101.
## 17. Creditors: amounts falling due within one year
||||
|---|---|---|
|17. Creditors: amounts falling due within one year|2022)|2021)|
||Total)|Total)|
||Funds)|Funds)|
||£)|£)|
|Trade creditors|5,892)|10,762)|
|Accruals|23,356)|34,801)|
|Other creditors|4,169)|3,556)|
|Taxation and social security|10,246)|9,928)|
||————————|————————|
||43,663)|59,047)|
||————————
————————|————————
————————|
44 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## 18. Analysis of net assets between funds
|||||||
|---|---|---|---|---|---|
|18. Analysis of net assets between funds||||2022)|2021)|
||Unrestricted)|Restricted)|Endowment)|Total)|Total)|
||Funds)|Funds)|Funds)|Funds)|Funds)|
||£)|£)|£)|£)|£)|
|Intangible fxed assets|118,565)|–)|–)|118,565)|–)|
|Tangible fxed assets|2,883)|–)|–)|2,883)|4,807)|
|Fixed asset investments|–)|–)|1,316,539)|1,316,539)|1,369,190)|
|Current assets|(153,809)|687,799)|–)|533,990)|157,142)|
|Current liabilities|(43,663)|–)|–)|(43,663)|(59,047)|
||————————|————————|————————|————————|————————|
||(76,024)|687,799)|1,316,539)|1,928,314)|1,472,092)|
||————————
————————|————————
————————|————————
————————|————————
————————|————————
————————|
## 19. Analysis of net movement in funds
## Year ended 31 March 2022
|19. Analysis of net movement in funds
Year ended 31 March 2022|19. Analysis of net movement in funds
Year ended 31 March 2022|19. Analysis of net movement in funds
Year ended 31 March 2022|19. Analysis of net movement in funds
Year ended 31 March 2022|19. Analysis of net movement in funds
Year ended 31 March 2022|19. Analysis of net movement in funds
Year ended 31 March 2022|19. Analysis of net movement in funds
Year ended 31 March 2022|
|---|---|---|---|---|---|---|
|——————————————————————————————————————————————————————————————|||||||
||Total funds)|Total)|Total)|Gains and)|Transfers)|Total funds)|
||brought)|incoming)|resources)|(losses) on)|between)|carried)|
||forward)|resources)|expended)|investments)|funds)|forward)|
||£)|£)|£)|£)|£)|£)|
|_Endowment funds_|||||||
|Expendable endowment|837,033)|–)|(10,675)|55,980)|(107,225)|775,113)|
|Fair value reserve|532,157)|–)|–)|9,269)|–)|541,426)|
||————————|————————|————————|————————|————————|————————|
|_Total endowment funds_|1,369,190)|–)|(10,675)|65,249)|(107,225)|1,316,539)|
||————————|————————|————————|————————|————————|————————|
|_Restricted funds_|||||||
|Vitol Foundation – Youth Boost|–)|181,686)|(121,295)|–)|–)|60,391)|
|ViiV Healthcare – Technical support to|1,200)|2,621)|(1,421)|–)|–)|2,400)|
|Umunthu project|||||||
|Gilead Sciences Inc – Knowledge to Action|–)|126,408)|(46,438)|–)|(44,524)|35,446)|
|Gilead Sciences Inc – Support for practitioners|
–)|36,531)|(15,855)|–)|–)|20,676)|
|Gilead Sciences Inc – Zeroing In:|–)|175,135)|–)|–)|–)|175,135)|
|Reaching populations most impacted with|||||||
|health communications)|||||||
|Cricket Without Boundaries|–)|–)|–)|–)|–)|–)|
|Mercury Phoenix Trust – Young Voices|7,169)|–)|(7,169)|–)|–)|–)|
|Mercury Phoenix Trust – PrEP|9,890)|–)|(9,890)|–)|–)|–)|
|Mercury Phoenix Trust – Be in the Know|–)|18,120)|–)|–)|–)|18,120)|
|Risk Pool Fund – Be in the Know (Zambia)|5,437)|–)|(5,437)|–)|–)|–))|
|VSO/Eagle – Mozambique project|–)|96,360)|(64,709)|–)|–)|31,651)|
|Praekelt (EJAF) – Young Africa Live|–)|404,211)|60,231)|–)|–)|343,980)|
||————————|————————|————————|————————|————————|————————|
|_Total endowment funds_|23,696)|1,041,072)|(332,445)|–)|(44,524)|687,799)|
||————————|————————|————————|————————|————————|————————|
|_Unrestricted funds_|||||||
|_Designated funds_|||||||
|Fixed asset reserve|4 807)|–)|(1,273)|–)|(651)|2,883)|
||————————|————————|————————|————————|————————|————————|
||4,807)|–)|(1,273)|–)|(651)|2,883)|
|General Fund|74,399)|50,156)|(355,862)|–)|152,400)|(78,907)|
||————————|————————|————————|————————|————————|————————|
|_Total unrestricted funds_|79,206)|50,156)|(357,135)|–)|151,749)|(76,024)|
||————————|————————|————————|————————|————————|————————|
|Total funds|1,472,092)|1,091,228)|(700,255)|65,249)|–)|1,928,314)|
||————————
————————|————————
————————|————————
————————|————————
————————|————————
————————|————————
————————|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 45
|19. Analysis of net movement in funds(continued)|19. Analysis of net movement in funds(continued)||Year ended|31 March 2021|||
|---|---|---|---|---|---|---|
|——————————————————————————————————————————————————————————————|||||||
||Total funds)|Total)|Total)|Gains and)|Transfers)|Total funds)|
||brought)|incoming)|resources)|(losses) on)|between)|carried)|
||forward)|resources)|expended)|investments)|funds)|forward)|
||£)|£)|£)|£)|£)|£)|
|_Endowment funds_|||||||
|Expendable endowment|1,155,302)|–)|(13,051)|
182,702)|(487,920)|837,033)|
|Fair value reserve|388,186)|–)|–)|143,971)|–)|532,157)|
||————————|————————|————————|————————|————————|————————|
|_Total endowment funds_|1,543,488)|–)|(13,051)|
326,673)|(487,920)|1,369,190)|
||————————|————————|————————|————————|————————|————————|
|_Restricted funds_|||||||
|Vitol Foundation – Boost Evaluation|47,214)|–)|(47,214)|
–)|–)|–)|
|ViiV Healthcare – Technical support to|1,450)|2,621)|(2,871)|
–)|–)|1,200)|
|Umunthu project|||||||
|Gilead Sciences Inc – Knowledge to Action|–)|76,046)|(76,046)|
–)|–)|–)|
|Gilead Sciences Inc – Support for practitioners|
–)|–)|–)|–)|–)|–)|
|Gilead Sciences Inc – Zeroing In:|–)|–)|–)|–)|–)|–|
|Reaching populations most impacted with|||||||
|health communications)|||||||
|Cricket Without Boundaries|3,094)|–)|(3,094)|
–)|–)|–)|
|Mercury Phoenix Trust – Young Voices|10,500)|–)|(3,331)|
–)|–)|7,169)|
|Mercury Phoenix Trust – PrEP|–)|9,890)|–)|–)|–)|9,890)|
|Mercury Phoenix Trust – Be in the Know|–)|–)|–)|–)|–)|–)|
|Risk Pool Fund – Be in the Know (Zambia)|–)|30,022)|(24,585)|
–)|–)|5,43)|
|VSO/Eagle – Mozambique project|–)|–)|–)|–)|–)|–)|
|Praekelt (EJAF) – Young Africa Live|–)|–)|–)|–)|–)|–)|
||————————|————————|————————|————————|————————|————————|
|_Total endowment funds_|62,258)|118,579)|(157,141)|
–)|–)|23,696)|
||————————|————————|————————|————————|————————|————————|
|_Unrestricted funds_|||||||
|_Designated funds_|||||||
|Fixed asset reserve|6,269)|–)|(2,250)|
–)|788)|4,807)|
||————————|————————|————————|————————|————————|————————|
||6,269)|–)|(2,250)|
–)|788)|4,807)|
|General Fund|5,520)|86,678)|(504,931)|
–)|487,132)|74,399)|
||————————|————————|————————|————————|————————|————————|
|_Total unrestricted funds_|11,789)|86,678)|(507,181)|
–)|487,920)|79,206)|
||————————|————————|————————|————————|————————|————————|
|Total funds|1,617,535)|205,257)|(677,373)|
326,673)|–)|1,472,092)|
||————————
————————|————————
————————|————————
————————|————————
————————|————————
————————|————————
————————|
46 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## 20. Description of funds
Expendable endowment
Fair value reserve
Vitol Foundation – Youth Boost/Boost Evaluation
ViiV Healthcare – Technical support to Umunthu project
Gilead Sciences Inc – Knowledge to Action
Gilead Sciences Inc – Support for practitioners
Gilead Sciences Inc – Zeroing In: Reaching populations most impacted with health communications) Cricket Without Boundaries Mercury Phoenix Trust – Young Voices
Mercury Phoenix Trust – PrEP
Expendable endowment funds comprise an expendable endowment donated to the charity in 1989.
Representing the variance between cost and fair value of the charity’s investment assets.
Funds received for the Youth Boost project and Boost evaluation.
Funds received from ViiV Healthcare’s Positive Action for Children Fund to support Umunthu’s Prevention of Mother-to-Child Transmission project.
Funds received to support digital communications to build health literacy among those most impacted by HIV through our Be in the KNOW website. Funds received to support provision of COVID-19 information.
Funds received to support communications work with groups most impacted by HIV including young adults and the the community health workers that support them.
Funds received from Cricket Without Boundaries to support the charity’s Cricket for HIV education and awareness project.
Funds received from Mercury Phoenix Trust to support the charity’s promoting knowledge and education projects.
Funds received from Mercury Phoenix Trust to create a social media campaign promoting awareness, interest, support and demand for PrEP among young people in Southern Africa.
Mercury Phoenix Trust – Be in the Know Funds received to support the development of our Be in the KNOW website. Risk Pool Fund – Be in the Know (Zambia) Funds received from the Risk Pool Fund in collaboration with The Vitol Foundation to evaluate sexual health communications during the coronavirus epidemic in Zambia. VSO/Eagle – Mozambique project Funds received to support the empowerment of adolescent girls to learn and earn in Mozambique. Praekelt (EJAF) – Young Africa Live Funds received via the Elton John AIDS Foundation in partnership with Praekelt to build an integrated digital health information platform for young people. Fixed asset reserve Designated funds representing the net book value of fixed assets. General funds Funds available for use at the discretion of the Trustees.
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 47
## 21. Transfers between funds
|||Unrestricted)|Designated)|Restricted)|Endowment)|Total)|
|---|---|---|---|---|---|---|
|From|To|Funds)|Funds)|Funds)|Funds)|Funds)|
|||£)|£)|£)|£)|£)|
|_Transfer 1_|||||||
|Expendable endowment|General fund|107,225)|–)|–)|(107,225)|–)|
|||————————|————————|————————|————————|————————|
|||107,225)|–)|–)|(107,225)|–)|
|||————————|————————|————————|————————|————————|
|||Transfer from|expendable endowment funds to||general fund to|support the|
|||expenditure of the charity.|||||
|_Transfer 2_|||||||
|General fund|Fixed Assets|651)|(651)|–)|–)|–)|
|||————————|————————|————————|————————|————————|
|||651)|(651)|–)|–)|–)|
|||————————|————————|————————|————————|————————|
|||Transfer from|general funds to fxed assets designated fund representing the||||
|||additions to and disposal of fxed assets.|||||
|_Transfer 3_|||||||
|Gilead Sciences Inc|General fund|44,524)|–)|(44,524)|–)|–)|
|||————————|————————|————————|————————|————————|
|||44,524)|–)|(44,524)|–)|–)|
|||————————|————————|————————|————————|————————|
|||Transfer from|general funds in respect of IT infrastructure expenditure funded||||
|||by restricted fund.|||||
|||152,400)|(651)|(44,524)|(107,225)|–)|
|||————————
————————|————————
————————|————————
————————|————————
————————|————————
————————|
## 22. Financial instruments
The carrying amounts of the charity’s financial instruments are as follows:
|The carrying amounts of the charity’s fnancial instruments are as follows:|||
|---|---|---|
||2022)|2021)|
||Total)|Total)|
||Funds)|Funds)|
|_Financial assets_|£)|£)|
|Measured at fair value through net income/(expenditure):|||
|Fixed asset investments*|1,316,539)|1,369,190)|
||————————|————————|
|_*Fair value is taken as the average of the bid and offer price for each security_|1,316,539)|1,369,190)|
||————————|————————|
||2022)|2021)|
||Total)|Total)|
||Funds)|Funds)|
|_Financial assets_|£)|£)|
|Measured at amortised cost:|||
|Trade debtors|133,392)|–)|
||————————|————————|
||133,392)|–)|
||————————
————————|————————
————————|
|_Financial liabilities_|||
|Measured at amortised cost:|||
|Trade creditors|5,892)|10,762)|
||————————|————————|
||5,892)|10,762)|
||————————
————————|————————
————————|
48 |[FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022]
## 22. Financial instruments (continued)
The income, expense, net gains and net losses attributable to the charity’s financial instruments are summarised as follows:
|summarised as follows:|||
|---|---|---|
||2022)|2021)|
||Total)|Total)|
||Funds)|Funds)|
|_Income and expense_|£)|£)|
|Financial assets measured at fair value through net income/(expenditure)|||
|Investment income|42,775)|52,080)|
|Investment management fees|(10,675)|(13,051)|
||————————|————————|
||32,100)|39,029)|
||————————
————————|————————
————————|
|_Net gains and losses (including changes In fair value)_|||
|Financial assets measured at fair value through net income/(expenditure)|||
|Unrealised gains/(losses) on investments|8,472)|320,234)|
|Realised gains/(losses) on investments|56,777)|6,439)|
||————————|————————|
||65,249)|326,673)|
||————————
————————|————————
————————|
Fixed asset investments are held at fair value with valuations obtained using closing mid-market price.
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 | 49
## 23. Comparative statement of financial activities
||||||2021)|
|---|---|---|---|---|---|
|||Unrestricted)|Restricted)|Endowment)|Total)|
|||Funds)|Funds)|Funds)|Funds)|
||Note|£)|£)|£)|£)|
|INCOME AND ENDOWMENTS FROM:||||||
|Donations and legacies|1|6,907)|118,579)|–)|125,486)|
|Charitable activities|2|26,982)|–)|–)|26,982)|
|Investments|3|52,085)|–)|–)|52,085)|
|Other income|4|704)|–)|–)|704)|
|||————————|————————|————————|————————|
|Total||86,678)|118,579)|–)|205,257)|
|||————————|————————|————————|————————|
|EXPENDITURE ON:||||||
|Raising funds – Investment management|5|–)|–)|13,051)|13,051)|
|Raising funds – Seeking funds|5|84,555)|–)|–)|84,555)|
|Charitable activities|6|422,626)|157,141)|–)|579,767)|
|||————————|————————|————————|————————|
|Total||507,181)|157,141)|13,051)|677,373)|
|||————————|————————|————————|————————|
|Net gains/(losses) on investment assets||–)|–)|326,673)|326,673)|
|||————————|————————|————————|————————|
|Net Income/(expenditure)||(420,503)|(38,562)|313,622)|(145,443)|
|Transfers between funds|19|487,920)|–)|(487,920)|–)|
|||————————|————————|————————|————————|
|Net movement in funds||67,417)|(38,562)|(174,298)|(145,443)|
|RECONCILIATION OF FUNDS||||||
|Total funds brought forward (restated)|19|11,789)|62,258)|1,543,488)|1,617,535)|
|||————————|————————|————————|————————|
|Total funds carried forward|19|79,206)|23,696)|1,369,190)|1,472,092)|
|||————————
————————|————————
————————|————————
————————|————————
————————|
## **Working in partnership with…**
Avert Platf9rm Tower Point 44 North Road Brighton BN1 1YR General email: info@avert.org
PHOTO CREDITS
Contents © epicurean/IStock pp.2–3 © Wavebreakmedia/IStock pp.4–5 © poco_bw/IStock p.7 © FG Trade/IStock pp.8–9 © FOTOGRAFIA INC./IStock p.14 © subman/IStock p.20 © DFID/CC pp.22–23 © triloks/IStock
www.avert.org
Registered UK charity no. 1074849 Registered UK company no. 03716796