2022-06-30-accounts - Aegis Trust

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Directors		R D Cerrotti		—appointed	20September 2022
		B M Kayihura		—appointed	25 September 2021
		R K Meskele		—appointed	20September 2022
		R Messinger
		J N R Montgomery
		Dr J M Smith	(Chief Executive Officer)
		P Whittle (Chair ofthe Board)
Charity Number		1082856
Company	Number	04020958
Registered	Office	34-36Goosegate
		Nottingham
		Nottinghamshire
		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

AEGIS TRUST INDEPENDENT AUDITOFVS REPORT TOTHE MEMBER5 OF AEGIS TRUST FOR THE YEAR ENDED 30 JUNE 2022 Because of the inherent limitation5 of an audit, there 15 a risk that we will not detert all irregularities, including 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 removed from the events and transactions reflected in the financial statements, as we will be lèss likely to become aware of instancès of non-compliance. The risk is also greatèr regarding Irregularities oecurrlng due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omi55ion or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.//www.frc.org.uk/Our-WorklAuditlAudit-and-assurance/Standards-and*uidance/Standards-and-guidance-for- auditorslAudltors-responsibllities-for-audlVDescrlption-of-auditors-responslbillties-for-audlt.aspx. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable companvs members. as a body, in accordance with Chapter 3 of Part 16 of the C(>mpaniesA¢t 20C6. Our audit work has been undertaken $0 thatwe mi8ht stateto the ¢haritable ¢ompanVs members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work. for th1$ report, or for thè opinions we have formed. John Howard FCA Isenior Statutory Auditor) For and on behalf of Azets Audit Services Statutory Auditor 2 Floor, Re815 House 45 King William Street London EC4R 9AN United Kingdom Date: 22 February 2023 io

			Unrestricted	Restricted	Total	Total
		Notes	Funds	Funds	2022	2021
			E	E	E	E
Income
Donations and legacies			134,076	23,169	157,245	109,622
Charitable activities			543,897	1,891,161	2,435,058	2,092,179
Total income			677,973	1,914,330	2,592,303	2,201,801
Expenditure on:
Raising funds:
Fundraising and publicity			2,515		2,515	19,989
Charitable activities			472,501	1,731,724	2,204,225	2,048,131
Total expenditure			475,016	1,731,724	2,206,740	2,068,120
Net income before transfers			202,957	182,606	385,563	133,681
Gross transfers between	funds		(174,198)	174,198
Net income/(expenditure)	for the year		28,759	356,804	385,563	133,681
Net movement in funds			28,759	356,804	385,563	133,681
Fund balances at 30June	2021		1,284,550	224,620	1,509,170	1,375,489
Fund balances at 30June	2022		1,313,309	581,424	1,894,733	1,509,170

		Note	2022		2021
			E		E
Fixed Assets
Tangible assets		13	716,572			704,771
Current Assets
Debtors		14	352	267,747
Cash at bank and in	hand		1,549,494	734,645
			1,549,846	1,002,392
Creditors: amounts	falling
due within one year		15	(371,685)	(197,993)
Net Current assets			1,178,161			804,399
			1,894,733			1,509,170
Income funds
Restricted funds		16	581,424			224,620
General unrestricted	funds		1,313,309			1,284,550
Total funds		17	1,894,733			1,509,170

			Notes	2022		2021
				E		E
Cash inflows from operating		activities:
Cash generated from operations			19		977,586		42,051
Investing activities
Purchase oftangible fixed	assets			(162,7371		(9,107)
Net cash used in investing	activities				(162,737)		(9,107)
Net increase in cash and	cash	equivalents			814,849		32,944
Cash and cash equivalents	at	the beginning
ofthe year					734,645		702,053
Cash and cash equivalents	at	the end ofthe year			1,549,494		734,645
Cash and cash equivalents	comprise:
Cash at bank and in hand					1,549,494		734,645

Land	and	buildings	over the operational	tenure ofthe buildings
Plant	and	fixtures	15%to 50%straight	line

The estimates and underlying	The estimates and underlying	The estimates and underlying	assumptions	are	reviewed on an	ongoing basis. Revisions to	ongoing basis. Revisions to	accounting	estimates are
recognised	in the period	in which the estimate			is revised where the revision affects only the period, or				in the period
of revision	and future periods		where the	revision affects both current and future periods.
Donations	and legacies			Unrestricted		Restricted		Total	Total
					funds	funds		2022	2021
					E	E		E	E
Donations	and gifts				134,076	23,169	157,245		109,622
Forthe year ended 30June 2021					109,622				109,622
Donations	and gifts				134,076	23,169	157,245		21,665
Donations	—charitable	bodies							87,957
					134,076	23,169	157,245		109,622

4	Charitable	activities	activities		2022	2021
					E	E
	Grants and	donations			2,435,058	2,092,179
	Analysis by	fund
	Unrestricted	funds			543,897	499,069
	Restricted funds				1,891,161	1,593,110
					2,435,058	2,092,179
5	Raising funds
	Fundraisin	and	ublicit
	Publicity costs and		fundraising	events	2,515	19,989

Charitable activities	Charitable activities						2022	2021
							f	f
Staff casual worker and		volunteer		costs			820,084	843,845
Depreciation and	impairment						150,935	161,104
Legal and professional		costs					718,636	566,601
Premises costs							74,506	79,749
Repairs and maintenance							11,009	7,309
Printing, postage,	stationery,		advertising		and telephone		202,076	49,681
Travel and subsistence							164,438	159,259
Other costs							30,447	48,883
Film production,	conference,		event and		exhibition	costs	15,321	8,511
Exchange losses/(gains)							(92,864)	(95,307)
Interest costs							2,550	2,136
							2,097,138	1,831,771
Grant funding of	activities (see note 8)						89,087	183,360
Share ofgovernance costs (see note 9)							18,000	33,000
							2,204,225	2,048,131
Analysis by fund
Unrestricted fund
Restricted fund							472,501	508,095
							1,731,724	1,540,036
							2,204,225	2,048,131

8	Governance costs									2022	2021
										E	E
	Staff costs										15,000
	Audit and accountancy fees			(see note 11)						18,000	18,000
										18,000	33,000
9	Net income/(expenditure)
										2022	2021
	Net income/(expenditure)		for		the period is stated after charging/(crediting):					E	E
	Exchange (gains)/losses	recognised				in net income/expenditure				(92,864)	(95,307)
	Fees payable to the company's				auditors for the		audit ofthe	company's	annual
	accounts									18,000	18,000
	Depreciation ofowned tangible fixed assets									150,935	161,104
10	Auditors' remuneration									2022	2021
										E	E
	Audit fees									13,500	13,500
	Other services									4,500	4,500
11	Employees									2022	2021
										Number	Number
	The average monthly	head			count	(including	directors)	employed	by the
	company during the period		was:
	UK based									6	6
	Rwanda based									33	30
										39	36
	The aggregate remuneration			comprised:
	Wages and salaries									591,579	566,104
	Social security costs									39,917	37,858
	Pension costs									21,796	20,645
										653,292	624,607

					2022	2021
					Number	Number
	The number ofemployees		who received total employee	benefits over f60,000
	were as follows:
	f60,000 tof69,999
13	Tangible fixed assets			Land and	Plant and
				Buildings	Fixtures	Total
				f	f	f
	Cost/restated cost
	At 30June 2021			914,281	1,195,753	2,110,034
	Additions			105,680	57,057	162,737
	Disposals
	At 30June 2022			1,019,961	1,252,810	2,272,771
	Depreciation and impairment
	At 30June 2021			267,031	1,138,233	1,405,264
	Depreciation charged	in the year		122,261	28,674	150,935
	Depreciation on disposals
	At 30June 2022			389,292	1,166,907	1,556,199
	Carrying amount
	At 30June 2022			630,669	85,903	716,572
	At 30June 2021			647,250	57,520	704,770

14	Debtors
				2022	2021
				E	E
	Amounts falling due	within one year
	Other debtors			352	37,977
	Accrued income				229,770
				352	267,747
15	Creditors: amounts	falling due within one year
				2022	2021
				E	E
	Trade creditors				5,729
	Other creditors			168,574	166,888
	Accruals and deferred		income	203,111	25,376
				371,685	197,993

			Balance at	Incoming	Resources		Balance at
			1July 2021	resources	expended	Transfers	30June 2022
SIDA Peace Programme			175,906	1,196,642	(1,139,532)		233,016
Digital Platform for Peace	Programme
Healing for Communities
Ikiraro cy'iterambere Civil	Society	Programme		23,169	(45,818)	22,649
Kigali Genocide Memorial	upgrade	project		103,143	(254,692)	151,549
King's College London			48,714				48,714
Beglia n —UP D				257,004	(191,249)		65,755
Belgian —Gender Masculinities				334,372	(100,433)		233,939
			224,620	1,914,330	(1,731,724)	174,198	581,424

Analysis ofnet assets between funds		Unrestricted	Restricted	Total
		Funds	funds	2022
		f	f	f
Fund balances at 30June 2022 represented	by:
Tangible fixed assets		716,572		716,572
Current assets/(liabilities)		596,737	581,424	1,178,161
		1,313,309	581,424	1,894,733

Included in the current liabilities within unre f162,936).	stricted fun	ds is a loan due to a	trustee totalling	f155,422 (20
Fund balances at 30June 2021are represented	by:	704,771		704,771
Tangible fixed assets		579,779	224,620	804,399
Current assets/(liabilities)
		1,284,550	224,620	1,509,170

Income	Donations	received	Licensing	income
	2022	2021	2022	2021
	f	f	f	f
Entities under common control	11,260	164,982
Other related parties
	11,260	164,982

			owed	parties	Amounts owed	related parties
			2022	2021	2022	2021
			f	f	f	f
Key	management	personnel			155,422	162,936
					155,422	162,936

Cash generated from operations	Cash generated from operations	Cash generated from operations		2022	2021
				E	E
Net income/(expenditure)	for	the period		385,563	133,681
Adjustments for:
Depreciation and impairment		oftangible	fixed assets	150,935	161,104
Movements in working	capital
(Increase) in debtors				267,395	(223,038)
(Decrease) in creditors				173,693	(29,696)
Cash generated from operations				977,586	42,051