##
|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|
|6|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|
##
##
##
##
##
##
##
##
|17|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|||
||||Amounts|owed|by|related|parties|Amounts
owed|to|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|