2021-06-30-accounts - Aegis Trust

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Directors
		J N R Montgomery
		Dr J M Smith
		M I Marcus —resigned		5 December 2020
		R Messenger
		P Whittle
		F Mutanguha	(Executive Director)
		M Kayihura —appointed		25 September 2021
		J Ohlsson —resigned 9		December 2021
Charity Number		1082856
Company	Number	04020958
Registered	Office	34-36Goosegate
		Nottingham
		Nottinghams hire
		NG1 1FF
Auditors		Azets Audit Services
		2"' Floor, Regis House
		45 King William Street
		London
		EC4R 9AN
Bankers		Natwest
		11Western Boulevard
		Bede Island
		Leicester
		LE2 7EJ
Solicitors		Freeth Cartwright
		Willoughby House
		20 Low Pavement
		Nottingham
		NG1 7EA

	Page
Trustees Annual Report	1-6
Trustees' Responsibilities Statement
Independent Auditor's Report	8 —10
Statement of Financial Activities
Balance Sheet	12
Statement of Cash Flows	13
Notes to the Financial Statements	14-25

AEG15 TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AEGIS TRUST FOR THE YEAR ENDED 30JUNE 2021 Because of the Inherent limitations of an audit. there is a risk that we will not detect all irre8ularities, ificluding those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is rernoved from the events and transactions reflected in the finaThci81 statements, a5 we will be les5 likely to become aware of Instances ol non-compliance. The risk is also greater regarding irregularitles otcurring due to fraud rather than error, as fraud Involves intentional concealment, forgery, collusion, otnission or misrepresentatlon. A further description of our resp0115ibilities is available on the Financial Reporting Councll's webslte at.. https'.Ilwww.Irc.org.uk/our-WorVAuditlAudit-and-assurance/Stand3rds-and-guidance/Standards-and-guidance-for- auditorslAuditor5-responsibilitie5-for-audit/Des£ription%)f-auditors-re5pon5ibilities-for-audii.aspx. This description forms part of our auditor's report. Use olour report ThSs report is made solely to the charitable company's member5, a5 a body, in accordance wlth Chapter 3 of Part 16 of the CompaniÈs Art 2006. Ouraudit work has been undertaken so that we might State tothe charitablÈtompany'5 members those matters we are requid to state tts them in an auditorfs report and lor no other purpose. To the lullest extent permitted by law, we do not accept or assume responsibillty io anyone other than the tharrtable tompany and the charitable compan15 member5 a5 a body. for our audit work, for this report, or IOT the opinions we have formed. John Howard FCA Isenior Statutory Auditorl For and on behall of Azets Audit Service5 Statutory Auditor 2. Floor. Regi5 House 45 King William Street London EC4R 9AN United Kir)gdom Date.. 12 io

			Unrestricted	Restricted	Total	Total
		Notes	Funds	Funds	2021	2020
			E	E	E	f
Income
Donations and legacies			109,622		109,622	206,869
Charitable activities			499,069	1,593,110	2,092,179	2,225,633
Investments						4,218
Otherincome						84,688
Total income			608,691	1,593,110	2,201,801	2,521,408
Expenditure on:
Raising funds:
Fundraising and publicity			19,989		19,989	22,262
Charitable activities			508,095	1,540,036	2,048,131	2,036,858
Total expenditure			528,084	1,540,036	2,068,120	2,059,120
Net income before transfers			80,607	53,074	133,681	462,288
Gross transfers between	funds		192,632	(192,632)
Net income/(expenditure)	for the year		273,239	(139,558)	133,681	462,288
Net movement in funds			273,239	(139,558)	133,681	462,288
Fund balances at 30June	2020		1,011,311	364,178	1,375,489	913,201
Fund balances at 30June	2021		1,284,550	224,620	1,509,170	1,375,489

			Note	2021		2020
				E		E
Fixed Assets
Tangible assets			13	704,771			856,768
Current Assets
Debtors			14	267,747	44,357
Cash at bank and	in	hand		734,645	702,053
				1,002,392	746,410
Creditors: amounts		falling
due within one year			15	(197,993)	(227,689)
Net Current assets				804,399			518,721
				1,509,170			1,375,489
Income funds
Restricted funds			16	224,620			364,178
General unrestricted		funds		1,284,550			1,011,311
Total funds			17	1,509,170			1,375,489

			Notes	2021
				E
Cash inflows from operating		activities:
Cash generated from operations			19		42,051		587,115
Investing activities
Purchase oftangible fixed	assets			(9,107)		(282,574)
Net cash used in investing	activities				(9,107)		(282,574)
Net increase in cash and	cash	equivalents			32,944		304,541
Cash and cash equivalents	at	the beginning
ofthe year					702,053		397,512
Cash and cash equivalents	at	the end ofthe year			734,645		702,053
Cash and cash equivalents	comprise:
Cash at bank and in hand					734,645		702,053

1	Accounting policies —continued
1.7	Impairment offixed assets
	At each reporting end date, the charity reviews			the carrying amounts of its tangible fixed assets to determine
	whether there is any indication that those assets have suffered an impairment						loss. Ifany such indication exists, the
	recoverable amount ofthe asset is	estimated	in order to determine			the extent	ofthe impairment	loss (ifany).
	Ifthe recoverable amount of an asset is estimated			to be less than		its carrying	amount, the carrying amount ofthe
	asset is reduced to its recoverable	amount.	An impairment		loss is recognised		immediately in income/expenditure
	for the period.
1.8	Cash and cash equivalents
	Cash and cash equivalents include	cash in	hand,	deposits	held	at call with	banks and other	short-term liquid
	investments with original maturities	ofthree	months of less.
1.9	Financial instruments
	The company has elected to apply	the provisions		of Section	11Basic Financial		Instruments' and	Section 12 'Other
	Financial Instruments Issued' of FRS 102to all of its financial				instruments.
	Financial instruments are recognised when		the	charity becomes party to the contractual				provisions of the
	instrument.
	Basic financial assets
	Basic financial assets, which include	trade and other receivables and cash and					bank balances, are	initially measured
	at transaction price including transaction costs and			are subsequently		carried at amortised costs.
	Basic financial liabilities
	Basic financial liabilities, including trade and		other	payable,	are initially recognised at transaction			price, unless the
	arrangement constitutes a financing transaction,			in which	case	it is measured at the present value of future
	cashflows.
	Accounts payables are obligations	to pay for	goods or services that have been acquired in the					ordinary course of
	operations from suppliers. Accounts payable		are classified as current liabilities				if payment is due	within one year or
	less.
	Debt instruments are subsequently	measured at		amortised	cost	using the	effective interest	rate method, less
	impairment, unless they constitute	a financing	transaction in		which	case it is measured at the present value offuture
	cashflows.
	Derecognition offinancial liabilities
	Financial liabilities are derecognized	when the	charity's contractual			obligations	expire or are discharged or cancelled.

Donations	and	legacies		Unrestricted	Restricted	Total	Total
				funds	funds	2021	2020
				f	f	f	f
Donations	and	gifts		109,622		109,622	206,869
For the year ended 30June 2020
Donations	and	gifts		21,665		21,665	48,268
Donations	—charitable		bodies	87,957		87,957	155,451
Other donations		and gifts					3,150
				109,622		109,622	206,869

4	Charitable activities	Charitable activities			2021	2020
					f	f
	Grants and donations				2,092,179	2,225,633
	Analysis by fund
	Unrestricted funds				499,069	585,458
	Restricted funds				1,593,110	1,596,364
					2,092,179	2,225,633
5	Other income				Unrestricted	funds
					2021	2020
					f	f
	Licensing income					74,978
	Other miscellaneous		income			9,710
						84,688
6	Raising funds
	Fundraisin and	ublicit
	Publicity costs and	fundraising		events	19,989	22,262


Charitable activit	ies						2021	2020
							f	f
Staff casual worker and		volunteer		costs			843,845	724,449
Depreciation and	impairment						161,104	208,433
Legal and professional		costs					566,601	411,614
Premises costs							79,749	69,309
Repairs and maintenance							7,309	50,615
Printing, postage,	stationery,		advertising		and telephone		49,681	86,173
Travel and subsistence							159,259	136,396
Other costs							48,883	176,285
Film production,	conference,		event	and	exhibition	costs	8,511	20,937
Exchange losses/(gains)							(95,307)	(30,667)
Interest costs							2,136	2,849
							1,831,771	1,856,393
Grant funding of	activities (see note 8)						183,360	138,465
Share ofgovernance costs (see note 9)							33,000	42,000
							2,048,131	2,036,858
Analysis by fund
Unrestricted fund
Restricted fund							508,095	539,066
							1,540,036	1,497,792
							2,048,131	2,036,858

9	Governance	costs										2021	2020
												f	f
	Staff costs											15,000	15,000
	Audit and accountancy		fees		(see note 11)							18,000	27,000
												33,000	42,000
10.	Net income/(expenditure)
												2021	2020
	Net income/(expenditure)			for		the period is stated after charging/(crediting):						f	f
	Exchange (gains)/losses		recognised					in net income/expenditure				(95,307)	(30,667)
	Fees payable	to the company's					auditors for the		audit ofthe	company's	annual
	accounts											18,000	18,000
	Depreciation	ofowned	tangible				fixed assets					161,104	208,433
11	Auditors' remuneration											2021	2020
												f	f
	Audit fees											13,500	13,500
	Other services											4,500	4,500
12	Employees											2021	2020
												Number	Number
	The average	monthly	head			count		(including	directors)	employed	by the
	company during the period			was:
	UK based											6	5
	Rwanda based											30	31
													36
	The aggregate	remuneration			comprised:
	Wages and salaries											566,104	657,201
	Social security	costs										37,858	36,826
	Pension costs											20,645	25,826
												624,607	719,853

				2021	2020
				Number	Number
The number ofemployees		who received total employee	benefits over E60,000
were as follows:
f60,000to E69,999
Tangible fixed assets			Land and	Plant and
			Buildings	Fixtures	Total
			E	E	E
Cost/restated cost
At 30June 2020			914,281	1,186,646	2,100,927
Additions				9,107	9,107
Disposals
At 30June 2021			914,281	1,195,753	2,110,035
Depreciation and impairment
At 30June 2020			133,516	1,110,643	1,244,159
Depreciation charged	in the year		133,515	27,589	161,104
Depreciation on disposals
At 30June 2021			267,031	1,138,233	1,405,264
Carrying amount
At 30June 2021			647,251	57,520	704,771
At 30June 2020			780,765	76,003	856,768

14	Debtors			2021	2020
				E	E
	Amounts falling due		within one year
	Other debtors			37,977	43,811
	Prepayments				546
	Accrued income			229,770
				267,747	44,357
15	Creditors: amounts	falling due within one year
	Trade creditors			5,729
	Other creditors			166,888	178,952
	Accruals and deferred		income	25,376	48,737
				197,993	227,689

				Balance at	Incoming	Resources		Balance at
				1July 2020	resources	expended	Transfers	30June 2021
				E
Sida Peace Programme				152,815	1,415,198	(1,392,107)		175,906
Digital Platform for Peace		Programme		111,383			(111,383)
Healing for Communities				29,676			(29,676)
Ikiraro cy'iterambere	Civil	Society	Programme	8,987	12,239	(10,820)	(10,406)
Kigali Genocide Memorial		upgrade	project	40,867			(40,867)
King's College London				20,150	165,673	(137,109)		48,714
				364,178	1,593,110	(1,540,036)	(192,632)	224,620

				Balance at	Incoming	Resources		Balance at
				1July 201B	resources	expended	Transfers	30June 2020
				f		f	f	g
Sida Peace Programme				43,915	1,333,251	(1,224,351)		152,815
DfiD Genocide Programme				5,835			(5,835)
Digital Platform for Peace		Programme		78,195	124,017	(90,829)		111,383
Regional Peacebuilding	Programme			9,075			(9,075)
Healing for Communities				50,226	3,946	(24,496)		29,676
Ikiraro cy'iterambere	Civil	Society	Programme	8,550	135,142	(134,705)		8,987
Kigali Genocide Memorial		upgrade	project	40,909	8	(50)		40,867
King's College London					43,811	(23,661)		20,150
				236,705	1,640,175	(1,497,792)	(14,910)	364,178

Analysis ofnet assets between	funds		Unrestricted	Restricted	Total
			Funds	funds	2021
			E	E	E
Fund balances at 30June 2021	represented	by:
Tangible fixed assets			704,771		704,771
Current assets/(liabilities)			579,779	224,620	804,399
			1,284,550	224,620	1,509,170

Fund balances at 30June 2020 are represented	856,768		856,768
Tangible fixed assets	154,543	364,178	518,721
Current assets/(liabilities)
	1,011,311	364,178	1,375,489

Income		Donations	received	Licensing	income
		2021	2020	2021	2020
		E	E	f	E
Entities under common	control	164,982	302,680
Other related parties			9,235		74,978
		164,982	311,915		74,978

			owed	parties	Amounts owed	related parties
			2021	2020	2021	2020
			E	E	E	f
Key	management	personnel			162,936	162,936
					162,936	162,936

Cash generated from operations	Cash generated from operations	Cash generated from operations		2021	2020
				E	E
Net income/(expenditure)	for	the period		133,681	462,288
Adjustments for:
Depreciation and impairment		oftangible	fixed assets	161,104	208,433
Movements in working	capital
(Increase) in debtors				(223,038)	(17,330)
(Decrease) in creditors				(29,696)	(66,276)
Cash generated from operations				42,051	587,11S