Charity Registration No. 1079038 (England and Wales)
Brazilian Atlantic Rainforest Trust
Annual report and financial statements for the year ended 31 March 2023
Brazilian Atlantic Rainforest Trust
Contents
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 |
| Independent Examiner’s Report to the Trustees | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 |
Brazilian Atlantic Rainforest Trust
Legal and administrative information
| Patron | Michael Palin |
|---|---|
| President | Professor Sir Ghillean Prance FRS |
| Vice Presidents | Robin Hanbury-Tenison OBE |
| Dr Jerry Bertrand | |
| Dr John Feltwell | |
| Trustees | Lindsay Bury (Chairman) |
| Frank Bury | |
| William Eccles | |
| Stuart Housden OBE | |
| Anastasios Paul Leventis CBE, OFR | |
| Robert Locke | |
| Stephen Rumsey OBE | |
| Kim Stewart | |
| Secretary | Alan Martin |
| Independent examiner | Cara Turtington FCA DChA |
| Saffery LLP | |
| 71 Queen Victoria Street | |
| London | |
| EC4V 4BE | |
| Bankers | HSBC Plc |
| 54 Clarence Street | |
| Kingston Upon Thames | |
| Surrey | |
| KT1 1NS | |
| Charity office | Alureds Oast |
| Northiam Road | |
| Rye | |
| East Sussex | |
| TN31 6JJ |
Page 1
Brazilian Atlantic Rainforest Trust
Report of the Trustees For the year ended 31 March 2023
The Trustees of the Brazilian Atlantic Rainforest Trust present their annual report and financial statements for the year ended 31 March 2023.
Trustees’ responsibilities in relation to the financial statements
The trustees 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).
The law applicable to charities in England & Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees
Trustees are appointed by the Board of Trustees and the Trustees throughout the period were:
Lindsay Bury (Chairman) Frank Bury William Eccles Stuart Housden Anastasios Paul Leventis Robert Locke Stephen Rumsey Kim Stewart
Constitution and Objects
The Brazilian Atlantic Rainforest Trust is constituted by a Deed of Trust dated 1 May 1999 and is a charity registered in England and Wales, number 1079038. The trustees shall hold the Trust Fund and its income upon trust to apply them for the following objectives in The Atlantic Rainforest region of south-east Brazil:
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to preserve and protect or assist in the protection and preservation of the world’s rainforests, particularly but not exclusively in Brazil, for the public benefit; and
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to advance the education of the public in all or any of the subjects concerning ecological sustainability and natural resource conservation.
Page 2
Brazilian Atlantic Rainforest Trust
Report of the members of Trustees (continued) For the year ended 31 March 2023
Review of developments, activities and achievements - Chairman’s Report for the year ended 31 March 2023
The Brazilian Atlantic Rainforest Trust (BART) received donations of £57,053 in the year to the end of March 2023 and transferred £66,910 to the Reserva Ecologica de Guapiacu (REGUA) in Brazil and a further £1,497 was spent in the UK on their behalf. The costs incurred by BART amounted to £4,560, leaving a deficit in the year of £15,914 which when added to the brought forward balance of £24,016 leaves carried forward funds of £8,102.
Two trustee meetings were held in the year, one by Zoom in April and the other face-to-face in November, however as usual throughout the year the Secretary held regular Zoom meetings with the REGUA team to discuss the project’s progress and provide advice where appropriate. BART also helped with funding applications that when successful were paid directly to REGUA rather than via BART.
At the November meeting it was decided to review the BART Trust Deed with the intention of improving it to bring it in line with current Charity Commission guidelines and best practice. Since then a draft Deed has been completed which will be discussed and adopted at the next meeting to be held in April 2023. This new deed retains the same charitable objectives, but improves some of the operational processes and clarifies some of the trustee responsibilities.
The REGUA project in Brazil continues to grow, and with support primarily from the Rainforest Trust and Saving Nature (both US based charities) completed the purchase of a further 688 acres in the 2022 calendar year and has the funding available to purchase a further 532 acres in 2023. REGUA’s outstanding success in forest protection, restoration, local education and research is encouraging new donors to contribute money for land purchase, whilst its long-term faithful supporters like BART and the World Land Trust continue their involvement in all the aspects of its work. At the end of 2022 REGUA owned almost 20,000 acres and helped protect a further 12,000 acres owned by project partners, making REGUA a truly landscape-scale conservation project. The number of trees planted also passed the 700,000 mark, with a further 80,00 planned to be planted in 2023.
REGUA’s Tapir release programme has continued to receive public attention and interest in Brazil and more widely, and there are now 11 adult and 6 young roaming the forest and being monitored by researchers and rangers. These young Tapirs are the only ones to have been born in the wild in Rio State for over a hundred years. The troops of Southern Muriqui (an IUCN Red-listed species) are also being studied, as are the Pumas with camera traps. A recent study on bats published in the Zoologia journal reports that 47 species of six families have now been recorded at REGUA, and that this number is likely to grow with further research at higher altitudes. More importantly it states that REGUA has the greatest number of bat species known for the Atlantic Forest, once again confirming how important this area is for biodiversity.
The Brazilian Atlantic Rainforest Trust was formed in May 1999, and was instrumental in establishing the REGUA project. Since then REGUA has grown and is now one of the most important conservation organisations in South-east Brazil, and is used by many to demonstrate what can be achieved in this region. However none of this would have been possible without the long-term commitment from BART which continues to provide financial support, encouragement and practical assistance. As always the trustees would like to thank the many supporters that have made all this possible.
Page 3
Brazilian Atlantic Rainforest Trust
Report of the members of Trustees (continued) For the year ended 31 March 2023
Review of financial transactions
The financial statements as set out on pages 6 to 11 summarise the transactions of the charity during the year ended 31 March 2023, at which date there was a deficit for the year on the unrestricted fund of £18,604 (2022: a surplus of £7,751), and a surplus of £2,690 for the year on the restricted fund (2022: a surplus of £1,754) which when added to the funds brought forward of £24,016 leaves total funds to be carried forward of £8,102.
Reserves policy
The trustees’ policy is to maintain a level of reserves which will provide a stable base for its continuing activities while at the same time ensuring excessive funds are not accumulated. The trustees believe that the free reserves of £2,043 are sufficient for its current purposes and these are reviewed on a regular basis.
Risk Management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting grant making policies. They will only provide grants which clearly demonstrate public benefit.
Lindsay Bury Signed on behalf of the board of trustees
2023
Page 4
Brazilian Atlantic Rainforest Trust
Independent Examiner’s report to the Trustees For the year ended 31 March 2023
I report to the trustees on my examination of the accounts of the Brazilian Atlantic Rainforest Trust (the Trust) for the year ended 31 March 2023.
Respective Responsibilities of trustees and examiner
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Cara Turtington FCA DChA 2023 Saffery LLP 71 Queen Victoria Street Chartered Accountants London EC4V 4BE
Page 5
Brazilian Atlantic Rainforest Trust
Statement of financial activities For the year ended 31 March 2023
| Unrestricted fund Note £ Income and endowments from Donations and legacies 4 25,453 Total income and expenditure 25,453 Expenditure on Charitable activities Costs in furtherance of the Charity’s objects:- Donations to REGUA 38,000 Costs on behalf of REGUA 1,497 Running costs 5 4,560 Total expenditure 44,057 Net income/(expenditure) (18,604) Fund balances at 1 April 2022 20,647 Fund balances at 31 March 2023 2,043 |
Restricted fund £ 31,600 31,600 28,910 - - 28,910 2,690 3,369 6,059 |
2023 Total £ 57,053 57,053 66,910 1,497 4,560 72,967 (15,914) 24,016 8,102 |
2022 Total £ 117,357 |
|---|---|---|---|
| 117,357 | |||
| 103,610 1,189 3,053 |
|||
| 107,852 | |||
| 9,505 14,511 |
|||
| 24,016 |
The Statement of Financial Activities includes all gains and losses recognised in the period.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 8 to 12 form part of these financial statements.
Page 6
Brazilian Atlantic Rainforest Trust
Balance sheet As at 31 March 2023
| Unrestricted fund Note £ Current assets Cash at bank and in hand 1,783 Debtors 2 1,700 3,483 Creditors: amounts falling due within one year 3 (1,440) Net assets 2,043 Fund balances 6 2,043 |
Restricted fund £ 747 5,312 6,059 - 6,059 6,059 |
2023 Total £ 2,530 7,012 9,542 (1,440) 8,102 8,102 |
2022 Total £ 11,402 13,814 |
|---|---|---|---|
| 25,216 | |||
| (1,200) | |||
| 24,016 | |||
| 24,016 |
Approved on behalf of the Board by
Lindsay Bury Trustee
2023
The notes on pages 8 to 12 form part of these financial statements.
Page 7
Brazilian Atlantic Rainforest Trust
Notes to the financial statements (continued) For the year ended 31 March 2023
1. Accounting policies
1.1 Basis of accounting
The financial statements have been prepared under the historic cost convention. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Brazilian Atlantic Rainforest Trust constitutes a public benefit entity as defined by FRS 102. The functional currency of the charity is £.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Income
1.3.1 Donations and gifts
Income is recognised in the year in which the charity is entitled to receipt and the amount can be measured with reasonable certainty.
1.3.2 Investment income
Investment income is accounted for on a receivable basis.
1.4 Expenditure
Expenditure is included on an accruals basis including irrecoverable VAT.
1.5 Foreign currency translation
Foreign currency transactions are translated into pounds sterling at the exchange rate prevailing at the transaction date. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date.
Page 8
Brazilian Atlantic Rainforest Trust
Notes to the financial statements (continued) For the year ended 31 March 2023
1. Accounting policies (continued)
1.6
Funds
Unrestricted funds represent the balance of income from all sources after deduction of grants made and other necessary expenditure.
Restricted funds are those funds where the donor has specified the use of their donation by the charity.
1.7 Taxation
The Trust is a registered charity and is not liable to United Kingdom income tax or corporation tax on charitable activities.
2. Debtors
3.
| Tax recoverable Other debtors and prepayments reditors Accruals Held on behalf of REGUA |
2023 £ 7,012 - 7,012 2023 £ 1,440 - 1,440 |
2022 £ 13,814 - |
|---|---|---|
| 13,814 | ||
| 2022 £ 1,200 - |
||
| 1,200 |
Creditors
Fees are collected in the UK on behalf of REGUA by the Trust. These fees are not the income of the charity and are held in cash pending transfer. Movements in respect of these fees are as follows:
| Monies held brought forward Received in the year Paid across in year |
2023 £ - 57,090 (57,090) - |
2022 £ - 18,391 (18,391) |
|---|---|---|
| - |
Page 9
Brazilian Atlantic Rainforest Trust
Notes to the financial statements (continued) For the year ended 31 March 2023
| 4. | Donations and legacies | |||
|---|---|---|---|---|
| Current year | Unrestricted | Restricted | Total | |
| £ | £ | £ | ||
| Includes the following amounts with a value | ||||
| in excess of £2,000: | ||||
| The Millichope Foundation | 15,000 | - | 15,000 |
|
| Angelica Green | - | 14,144 | 14,144 |
|
| Foundation Franklinia | - | 3,920 | 3,920 |
|
| Malcolm Hutton | - | 6,885 | 6,885 |
|
| Included in total unrestricted donations are aggregate donations | from trustees and foundations | |||
| controlled by trustees, of £16,550 (2022: £71,542) | ||||
| Comparative year | Unrestricted | Restricted | Total | |
| £ | £ | £ | ||
| Includes the following amounts with a value | ||||
| in excess of £2,000: | ||||
| The Millichope Foundation | 15,000 | - | 15,000 | |
| Lindsay Bury | 35,000 | - | 35,000 | |
| The Tasso Leventis Foundation | 21,442 | - | 21,442 | |
| Geoff Ball | - | 10,000 | 10,000 | |
| Lee Dingain & Rachel Walls | - | 6,800 | 6,800 | |
| Richard Langley | 2,000 | - | 2,000 | |
| Malcolm Hutton | 10,000 | - | 10,000 | |
| 5. | Running costs | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Bank charges | 209 | 154 | ||
| Independent examination and accountancy | 1,560 | 1,166 | ||
| Travel and other costs | 2,791 | 1,733 | ||
| 4,560 | 3,053 |
Running costs of the charity include governance costs and general administration. The trustees, who are considered to be key management personnel, received no remuneration or expenses during the year (2022: £Nil).
Page 10
Brazilian Atlantic Rainforest Trust
Notes to the financial statements (continued) For the year ended 31 March 2023
6. Funds
Unrestricted Funds comprise those funds which the trustees are free to use in accordance with the charitable objects.
Restricted Funds are funds which have been given for particular purposes and projects. The Trust supports the Reserva Ecologica de Guapiacu (REGUA) project to conserve one of the most critical examples of Atlantic Rainforest remaining in south-east Brazil. Income specifically received in respect of this project is accounted for separately as a Restricted Fund, along with the associated expenditure.
7. Related party transactions
Apart from where set out in note 4, there have been no transactions with related parties during the year (2022: none).
8. Comparative information
8.1 Comparative statement of financial activities
| Unrestricted £ Income and endowments from: Donations and legacies 97,493 Total income and endowments 97,493 Expenditure on: Charitable expenditure Costs in furtherance of the Charity’s objects:- Donations to REGUA 85,500 Costs on behalf of REGUA 1,189 Running costs 3,053 Total expenditure 89,742 Net income/(expenditure) 7,751 Fund balances at 1 April 2021 12,896 Fund balances at 31 March 2022 20,647 |
Restricted £ 19,864 19,864 18,110 - - 18,110 1,754 1,615 3,369 |
2022 Total £ 117,357 |
|---|---|---|
| 117,357 | ||
| 103,610 1,189 3,053 |
||
| 107,852 | ||
| 9,505 14,511 |
||
| 24,016 |
Page 11
Brazilian Atlantic Rainforest Trust
Notes to the financial statements (continued) For the year ended 31 March 2023
8.2 Comparative balance sheet
| Current assets Cash at bank and in hand Debtors 2 Creditors: amounts falling due within one year 3 Net assets Fund balances 6 |
Unrestricted Fund £ 9,979 11,868 21,847 (1,200) 20,647 20,647 |
Restricted Fund £ 1,423 1,946 3,369 - 3,369 3,369 |
2022 Total £ 11,402 13,814 |
|---|---|---|---|
| 25,216 | |||
| (1,200) | |||
| 24,016 | |||
| 24,016 |
Page 12