Reglster¢d numbgr: 01103967 Charlty numbw: 1102123 ALBERTINE RIFf CONSERVATION SOCIETY TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
ALBERTINE RIF[ CONSERVATION SOCErY 2-10 Statemwrt of Flnancthl Actlvld 15 Balanco 8h¥t 16 Statement of Cash Fltr 17 18-35
ALBEFrnNE RIFf CONSERVATION SOCErY REFERENCE AND AOMINISTrATIVE DEfAILS OF THE SOCIETY. ITS TrU8TEES AND ADVISER3 FOR THE YEAR ENDED 31 DECEIIBER 2022 Dr Adrie Muk£shem8 Dr Brfgitte NTarTttngutse Dr Charfes Kahin(h) MuJJsa Nga Mr Niwmana (resign 26 Jung 2023) Dr Jane Bemtyyk)a Mr John Saleho Dr Nyarangi Keraro Mvs NtamubaTh) lrnsigned 4 August 20221 Dr Nhda3 Davbj Kry lapwinted 26 Jung 2023} C¢Jmpany rogist•r•d numb•r 04103 Charfty r¢yi8tered numb•r 11Q21r3 Rgglstered offt¢• CIO Birrltlo Intemalional Cambrldge C82 3QZ Company gecretary Dr Sam knd•p•ndent audltors Petws EorthY & M( Chartergd Auntants Salisbury Hse Statson Road CamLYldge CB12LA Bankfjrs Bank KN4Av8 No12 Pk4No7 Bardays Bank Pl Bardays GambrKh3e Cambrfdge Uniw Klrwom C82 3AX Page 1
ALBERTINE RIFY CONSERVATION SOCErY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trusteas present thelr annu81 tryther wilh Ihe auditeil financlal ststements ofthe Socw for the year 1 January 2022 trj 31 DeC8rnr 2021 The Annl1 ReprKI serve5 ts purpos8s of LK)th a Trustees, report and a directors, report under LpanY law. The Trustees Lxjnffryn that the Annual R8W and financial statemants of the charttable company DJm bvrth the stsbJW wuirements, Ihe requirements of the charitable companls goveming thu1r1 and the pr10$ of the Stslemenl of Recommended Practice ISORP) aptAIc8ble to chariti.es preparÉrEg Ihgir a(u)unls In acox(kn the FinwKial RepDrting Standard 8Wlcable In the UK 8nd Repubfic of Ireland IFRS1021 (effe(¥e 1 January 20191. sin the S(Klety qLth 8$ smal utwjer SeOn W2 ofts cnPanieS Acl 2006. the Strdtegic Ropjrt required of medium and large companies uThJer the C(wanles Act 2(KJ6 IStrateg¢c Rwt and Dir8¢tors' Reporti Regulakn'ons 2013 has tan omilt&l. OBJECTIVES AND ACTMTIES a. Pollclo$ and oblectt¥•s ARCOS establsh8d Sn 19a5 wlth ts ml55b)n to "enhanc bicthv8rslty cons8Natlon and sustainable managem8nl of natural $0CeS trwh th8 womtion of cdlaboraNe wervation acbon for Nature and People." Today, ARCOS has prowimgs exletsJv¥J be>ThJ th8 Ijtwbr RI IrUdVJ the Africa Great Lake8 region arKJ the African moLtt)t8in$. To achieve rts mission. ARCOS bulds on ts fory pkn ofts apwrAth: We f8L4ilats h¥Orking wÉth lcd. natTonal. aThJ Irrtna lo $tainab devek)pm8nt thugh infomial#)n arKI experien slwing. We empower our through polw diy. paty buldiThJ aThl lcY engagemènt when ImFAementing r work. We %wJrf( all kitbts oftxganoalv)ns- NGcB05. acalemlc institutk)ns. govemments and IncreasinLty bUne$S. Our activities on th8 grcYJr take an integrd landscapo approach f(xxJsing mainty in protecting bi(Jivgrsty enhanang occwaem ser¥ices. lIdIng N8ture Based Ccfnmunity Entgrpn"sas {NBCEsl and bulding shared vtsion stakehohkn to •JdTe88 threats. b. Lagal SlatU8 Thé Albgrtlne Rift Conservtitron Sooety is retseJ in EngfaThl and Wales a8 0 Ch8rity {Charity No 11021231, and Company L¢mrt&J by guarantee (Company 41039671. ARCOS is rtigsterfjd in Uganda {No S 5914151951 ond Rwanda (No. 1181RGB118) as an Intemati1 NGO. wrth the Opeial Regn Head Office K11. Irj a(Jdmon. ARCOS has an aprxynted Boèrd of Di18(ors and TFUSts drawn Irom dtfferonl backgrounds and skllls bj board deliberatiorts, 8nd compris1 of repreStth5 from the AJb&rtn8 Rift cKJuntries. Afric8. and other inlernalional exp9rts. Within the Board of Dir&ors. a ManageThth Commilbe is re¥onsible for ovetseeing and reviewtng ARCOS prryJress. The Management Committee is o)mpri3ed of the Chairman. Vice-chaimian, Treasurer and the Chief ExecutNe Officer, whose reS[SIbty to ensure the datdaY management of the organkatknn. There are ar disllnctttS tets¥een Ihe of the tK)ard and Ihe exeoJtsve management team. Page 2
ALBERnNE RIFf CONSERVATM)N SOCETY TRUSTEES. REPORT ICONTINUEDI FOR ThE YEAR ENDED 31 DECEMBER 2022 08JECTIVES ACTMTIES (coKnNUEO) Publlc Bormfft Entity In setbng otyectlvtis aNJ Flanning for actÉvTties, th8 Tnjslws have ghen constOn to general guidance published by the Chaiity CoMmkssi tdalivj to indudiry the guidance benefft.. n&nning a charty IPB21. The TrlIeeS confinn that they have ( with thelr duty lo have due Teg8rd to the Charity Commission's general guanCe on nefit The ac1wilS uNlertkn during Ihe to fulfil thls oblwJatknn is ft2rth d. Mo8sago from th? ChaImTr and Chl•f Executh Offlcar The year 2022 marked Ihe cel8brth of27 swrs swKe ARCOS was estabSshed. As in premous y88rn. ARCOS kept the mrmenlum of acting l• to addr8ss issues thmugh its Strategic Proyramme Areas.. Bulding Socw Capita arnj Suthnabk CommiKwty LivellMxMJs. Promoty'ng EducatKM SustsinatrA8 DevekwienL Promoting EriCUre and Sustainable FLwxI Syan. BuAding Resilien to Clknnate Che and Supporting Govemments aThJ Private Sectr to Enhancg Green D94nt Agerth. In the mkkHe of 2022. ARCOS ned Ihe CEr[lar Allan ICBA). actKm-orientd partnershlp that connects the dots b8t4¥een investors. ())MpanS. govemnwtd aTKt nDn- wv8mm8nt81 organvzations and local communibes to advance Ihe cirwlar bh)eCoY on the gn)und wthilg restoring knodiversity globdly. The CBA was created by the lfjng Charles 111 in 2020. Moreover. ARCOS vras gracgd to recgtve His Majesty Kir Chatle8 111 whe on tr¥3 vi8St tr) Rwath fw the cKra&on of The Comrrh)nweatth Heads of Govemmenl Mgeting (CHOGMI. His Majesty paid a vl&t to one of ARCOS, sites to ts a c£41atorthe ld¥cape restoration for clwnate reslance In Rda. strategies 0}nderJ cmat8 chwa rnibgakn and adaiY8kn wth the obiethts to protacl and restore ecosystems within Lake Kivu catchmenL lIaThy$. and thher related tandscapes in Rwanda. The feasibility sluty on tho Refiee Environmentsl pr(¥t? furjd prOJt, Wtth the aim to exphxe th? tthntial of a cartLM prqoct on reforestal]on. a(est81. re5tcKatvJn a8 wdl as dean cookiNJ tttIn 8nLI around selècbj Tekng czrnps in Rwanda. The p8rtnershp with ICR Fa&lity to C(MKfuct a Va tain devdwnenl in Rwanda'$ land5pOS to advise on potenal rxJmnJ)d6S to be develcwl arrHJrKI the agrothsty sfftm of Rwanda. In Oacémbw 2022, ARCOS Afri(a MwntaTn5 CommunittCMunity Exchange 2022, to celebrate the Intemath)nal Year of Sustsinable Mounlain Devek)pmenL This event took pFace in KvJali, Rwanda, during the week that started the lnleThntI Mwitain Day on the 11 DeMber.11 was organise(l part of fa(alrtatsng (mun eXp1Th and kr slthg across the Afri(n o)ntin8nL in cclaLK)ration th the We are very grat8lLI for the 8L¥WMt from dtrfferent d( partrws, *RCOS TrMb8r$ and tireless effort from ARCOS staff. Without yw. w(yJhJ have athle1 this mLKth this year. We wdcome yDur tt)ntinuou$ Co1ron as w8 also wd(xxne new pwtswsh4) on wr loumey tr) INJ] en¥iTrmmental rosligncg and keep taking caro ofour anet Page 3
TRUSTEES. REPORT {COPlllNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 ACHIEVEPAEKfs AND PERFORMANCE Duriro tha year 2022. ARCOS athle11 $trufant results Itrwh BkKI• Conservation and Ec(tsystem ARCOS planted and 2..C(KI trees. re8uK#y in intyeased Spec varw, providirvJ essential resources suth a5 frmyj. fuel%th. and for local communllies. 12.5CKJ ha of dg3rd larKI wern under T8s1alI0n. leadirwJ to improv1 SYJI fertllty and doubled yiekjs for hws8hrAds practiong SJJstainable Agrsculiure and Land Management (SALMI pract6ces. The rehabiltation of NyagasgnJT rem1 fest 0 IxNttribute4J to an irK¥oase in ts numbar of plant, 8uMdlng •o¢lal c4pMal $uslainall• ¢onMnunlty li¥dihoods With stratw Flan 2021.2030. ARCOS Iws reknnt to inv&qt efforts in social capltal within al landscapes of for#Js as a ne measurg to athl9 tran8fombatp)nat and sustainable community inslÈbJtions and Itveh'h¢x4Js iMK¥ovemenL ARCOS successfuty emKwed mce lh 40,IXO famw uh(1d$ In corLsorvation and landxape restoration efforts and promded wilh technical and finant)al yJptorL These communities reported a tter LWKlerstsnding of enviffjnmenlal issues. dimate c8nge, thr role in ecosystem restoration, leadlng to efthancad s(K?al coh8sion and tsynsf0rmab. The estai4ishm8nt oflocal wiat eThJin8S thrrh e1rnunityc5 th holpod &Jdress aTouThJ 30 eases of SLxial confiicts, proting sustsinabthty aNI reslience. morVer. the initialion dWlla9&•8ased SavMvJ aFKI Loan As>x4at elSLAsl enatrAed c(mmunities to Invest over RWF 270 M1W( FeT wr, fl>sln9 finanLyal Indnderbr. The engagement and trthng oftW w in bwness arxl enlerptise development kni to the CX8ation of over 7.1JX) green l(th thrrAtgh V>JS wMllative5 sh as trpe nurs d8v8lcyn&nt and value dInS deVeknpL Idthnalty. around 3CM) prcryert wopos from thgse grtws Mrded gr8nts or loans, rther promoting entrepreneurship and sustainablo lNdihcS al the MmUnitY lèvgl. A slmi18r inits"ative is tho Turaco Funds vthtth operth at sth level ar w¥Jaging sdKKAs. thiklren. teachws, and parents to SUPPOrt thelr green leamlng zon8s at schcL4 ¥81 through smal loans. Inctsne g8n8ralng incentlves and Promotlng Edu¢atlon for Su•talnabh Dov•b In the framewth to te and t&adws Irlfig manual, ARCOS and partners have c4MdLJcled an educatK>n mapring exerose to identsfy the gaps chaHonges pertalning the effeclive imF4ement8tion of the Competence 88sed CurrIcurn ICBC} as wdl as integrating the EdUtion for &Jslanable tÈvek)pment IESD). The rxWaS produ{ and Is very helpful In the identifi(8lon of onty 18 for tho Eo>gxAs' pro3rdrrJTr to supryjl Ihe athl8v8mgnl of quallty education in Rja. Thr(xJgh the EdueAtk)n for SuslainaLqg Deveh)PFYWrt area, ARCOS cc)duL#ed thorough School Enwronmontsl rEvws arKI Climate tharoe VE*al assesynents. resulilng in a signfficant increase in sbJiJents' awareness of e(x>thinktw and vMents1 vUes. Page 4
TRUSTEES. REPORT (copinNUED) FOR THE YEPR ENDED 31 DECEMBER 2022 ACHIEVEMENTS AND PERFORMANCE (COIrnNUED) CMate ¢harNJe adaptatth action Zones to restore degrBdl areas and IMb)t mateOSi$lan¢ Seeds, the The prcoram pd a Vit role in addressing social i8gJes bytraining 20.016 parnnts arKI MmUnIty members. on comiwllng GeJer yti IGBVI and th1ressw bariers that hinder girts. educatw)n arml envirrmmental plus trrtlsl)e devekwt aspects. ARCOS 8ngag&J 12,976 sknlents ojncepts. ARCOS has adopt&J th8 prrNThikn of 8(XWTKuIttKe sustsinatle fcth system under ils strdtegic plan 2021. 2030 in response to the current treThJs in pwdalK)n inrxease. hKJh dern in fcrtyj and agllcultL¢ral land that exeruso immense pressure on and genwd. The prinLiplp is to afvance sustainab19 prath.ces that p¢miit pmduclion of en(wh fcoj wthil& con8eEMrg and restorrig agrwW8m land5capgs. Durfjng the star 22. ARCOS demons1f stgntficant Impact throu Its stratwc area of 'Promoting Ec¢ AgnlIre and Suthn8tle F¢xJ sstn,. fosterry rMMtive thang8 in agricuknral practi and Itv8¥)0d8. ARCOS'5 efforts womotir•J wvir(MentsIty and dimate-smart 8grthre practice5 y91ded tsngiblo results. A sampte of 10% of trained famws re[rtl nolicèatle imFffovements. gjch 88 reduod rainwater run. off 8nd e[On at the ve1. gnh8nced (2padty to La)pe em8ryw)g and diseases, a r8markaLle (kjubliw or even thplng of crop )iebJs after (l1stent of Suslaiwb1O Poricullurnl L8MI anagement (SALMI prwASces. Buiklw¥J to dinate thange. In PUT8Uft of strategK agrithre ARCOS cU¢t9d three Vthe Chain8 A&¥essment Initiatives in four landscapes (Ruundo. Bugeserd. f&cumbi & lQrehe in Rwanda). The wxjuced reports 8r6 now servtng as Invuable referen trKls guidlng v thatsted Invesknts arbj resoLwce m0bdlzat efforts both natlonalty and at ts organiZanal level. ARCOS. Commlknent to pronK)lrt sustainable fxI systems Ikgs had o tasu'ng Impact on lo(zl commLtnities. Thffxh the Im[48fttatiCfI of dim&5riiart pr"¢e$ and the estsblishThnt of essential Irrigation infraslrucaure, have ex[vi infxeased prctyjuctmty and resllEnce in the face of enronMental ChaInge5. Th• Chains A$Snent 119$ have pay th8 way for strat8glc agricultural natnal levels. Bulldlng Resllence to Clknate Clwy For the year 2(Y22, mlastwos a(48v1 kn "Buldlry Resllence to Cllm8te CharKJ8,' f05teriThJ kr)VA8dge exrjbange and cthlabo1 8fforts aThk)rvJ nw)tain cx)mmUn&S fa¢ing dimale challenges. (ary. prOding a crucial F4atfomi for ntaIn (x)mmuniDes to share ex[wien and best pr8clices. Through these Wofkshops, ojmrrwniies engaJ8d in vahJabl8 kTh)ledge exchange, fostering cdalmtion and mutual suw)rt in athjressing the impocts of dirnate change. The wothshop5' POSttNe impact has been refiect8d in tr enhanced understandw of thaleTrJes the impknientat[ of lnrnwa1i solulh)ns ty th888 communilies. adaFttatn solLttKJns in ts East Afri(*n m0unlaw. These dora&mented StionS seNe as valuabl8 r8scwrces for mountain CA)mm¥Jnities to adapt to dimatg tharo8 ¢knges effedNety. As these communitie5 facg unique dimate4dated impacts, the a¥>1 of strategies and eVIdenbaSed sokrtK)ns has significanty Pag• 5
ALBEKnNE RIFf CONSERVATION SOCErY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 ACHIEVEMENTS AND PERFORMANCE (c¢)MllNUED) ostsblishing and opgralionaliztng the East Afri M¢taInS Stakoholjers Platfonn. This collaborative and P8rb"clpatory Spa has become 8 dedica fornm IDf YdriOUS Sthddw3 to C(eIve1Y address dlmate change issues affecting Mounta communtlies. By ktering d1s(YJSSM, knoehdring an(J solution devdopmenL the pl8tromi kylorft the unique neats and vulnwalllities ofthese reg. Its establishmgnl has strengthened cPerat and ¢)thinatk)n arnTr stakthrAder5. rewltirvJ in mcve cEmprehen5ive and tsrgetod inltlalives to buld resilie fjnre suStan mountw"n areas. StTrt aCttents were attJ in swr1Thj a dr(¥tsr ecorKry and wSlaWbl8 8g11lIre practic88 as part of this Strateg area. Aftar jcxnirg the Cwcular &oec¥)wny Aliance (CBA). ARCOS started promoting rcular gconomy in its fcxxl larthcapes. The train4 of 4.OCQ tea fanners led lo an impressive 80% adoption ralg of green agriculture tacti. resLtirwJ In irueased FYoducwty. Nnprowj soil fertikty. reduced chemlcal inputs, and •ffiGient watsr managemenL FurtrrThKTr. ARGOS, 8fforts in 8Stablishing dr(#Jlar 8conomi8s in the Cth0ha and Rtjkeri watarsheth invLIV th? armj FlantKwJ of 3C().tXX) seedligs, cr8ating 200 green jobs in tree nurseries, management and anting cnpavJns.18ading to 8 10% increase in the annu81 income of cooperative memb9rs j to eMent opiKhttirfRs a1 seJliThJ sales. Thgse achievements underscofe ARCOS, comrEtit¥nent to envircmiental sustslnabdty its instrumental role in thanong the govemtrnVs gre8n devdopment a9. FINANCIAL REVIEW •. ARCOS Flnanclal R•vlew and Fundng Durfng the 9T ended 31 Decemb 2022. ARCOS had t(Aal amoLmtgd to $1.769,287 tt4te£ted from ils various SOUT of incorne, the orglIalV)n In(#md total 8xperises propcts imp15( aNt operatirig expenses am(yJnting to S1.942.996. This means that frcrfn the unutlThl fi&nd5 balarKX of the y8ar 2021, tho organiza11 utsliztsl $173.709 in 2022. Resffts at the of 2022 V•we $733.tK3. of which $399.181 were The organiz8t6on has achthed wl reth in Offvfidra reg)ur(s Th)b10n. Charity does nol approach the general put41c and woths organtzatk)ns to identify p)ssIb projects. The ftJndrai5ry team identifd a tota of 12 opporbjnibes for whith ARCOS was elJitrk to aFfty. We have submitted 11 quality Proposa out of wPMch 4 fund1 by Deceffl 2022. Wilh this eftort, tho annual total InMe of tho organizali(yn reached $1.769287 (2021: $1,467.175). In addl)n. Ourir4J this r 2022. ARCOS investod efforts in complying rfjquKerts frDm stakelK*Jers arKI Orgatton'S intema] prKe11ures by repoTting on regular basis as r8quÈred. The percentage of totsl e¥perK11rn in8 n the 2022 pw straw FrJgv8mme arEas ts presented in th6 followng CharL Page 6
BERTINE RIFf CONSERVATION SOCErY TRUSTEES. REPORT <coKllNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Year 2022 TOLIE Expenditures per Strategic programme areas IX 5% 27% . 10% b. Rwrvos pollcy It is ARCOS, wltcy to commlt Ihe maxlmum amount of res possible to cwrent programmes in alignment to th6 organision's mwion arKI (4thies. thwefThe retsin rAAy V+tst is ngcessary to safeguard the ¢ontinu6ty of iEs operations. The ¥mrd continues to salisfd the efftiency of fundraislng, the level of supwt costs and reseryes hetd. and is u)nfident that these are d in I wlth Ihe 8greed strategic dirgct60n. Unrestiicted fvnds were $333,882 * the year4nd. The unrgsiricted fun(1 relate5 m8kn1y to the tsngible fixed a&sets of oyganisation the operational buildinss u$e(l in the $trIcted priipcts. The TTuslees (yjntinue to seek unre5tricW to buRd unrestrfcted rèserves. The Tru5188s ean further rBViVW thr asset holjirbjs wlth a view to r818a$ing Iquid funds rf nacessary. Cash balances are. IKhvever. CalU1Y lo ensurg al rethcted pmJ&ts can be curyAoted. UnrestrKte(l income 7hi# th tho tM)8td to: develop, tsst arKI deMtrS the effoctiverws of new approacaE8 ffinance our lCY and (ampaigns work ¢. Golng Concem After making appropriate enquiries. the Tnfstees have a reaSCbI8 that the Sw"ety has J8quate resour(8s to contintje in Cfwatbjna exlstm for a pErKMJ of at1685t Iwdve Frmths frDm the date of èpproval of the finandal statements. ouuined aLe. Ihe Ttee¥ we makng eff(ts in fijndrnisbng to ensure that new funds ara avalable to organizational ¢))sls aThJ Ihat they c8n Impth8nt propcts in line with ft¢nd8rs requir8mellts. Wa ensure comFAlan with the FuThJraising Relat CcJe of Practice and wr own fundraisTrng Ft4iaes among our stsff in a numbw of w. This is done Ihrough rigcrous hIng and trainir¥J of new ftJndrdi$ing staff. With 8n estst4ishl taam. our target is to submrt atlgast 3 major proposals per quarter. As such. in ld1t)n to the setsjred as mentioned above, we are Working on 2 major carbon finance projects th MIROVA aThJ 18a( above USD 20 Mknl. For this r¥ason. they o)ntlnue to adc4)t the going )rArn basis in preparing the finatK4al statements. Pag8 7
TRUSTEES. REPORT (coimNUED) FOR THE YEAR ENDED 31 DECEIIBER 2022 d. PrIncI1 and uncertalfilleg The Trustees are aware of the rks ARCOS these 8re (tiSaSed by the Trustees on a regular ba818. The Trustee5 have pul kn Fla to mfogale those rlsks as far as rKtssble. whe this is wllhin contrd. The Trustees have assess&J and regulaty ass8ss Ihe mw risks to whtch the (mg8n&ati is exposed, fft particular risks to 01r. The main rlsks and thelr rthtiol Impact havE been I. together the mettKxis athptthj to man8ge and mitigat8 I1m, afbj have been gmuFd intr) 4 categori. Finanoal aj Hn re8Otw ) teTr ofytsuffk?•rt funding. inadequate 8tafl experbse and staff turr¥)veT. Impmentall)n The truste8s o)nsider orn of the wrefrt makn ri8k8 to ARCOS mKJht rntsapproprlat¥Jn of funds and therefore has Put in ace a policy lo minimize 5h payment use b8nk transferfor fvll approvd pro$. Therefore all requests for payment mt be by a rmber of 4Jlller•nt and PHnets made by bank transfer rdth8r than lh. a. stcture and Governan in 1995 ar]d trhjsted by the Workl Conswvatirm Centr8 (Lknilwj Kiwl¢Jnl and the Regional Cwrdin8tion Office by Natyre Uganda (Ugandal. rTh)nw hebj bank accounts by this trntitywe drately to the Souety on inc(Ypordtion {8 Novgmb8r 21M)}. The sc is governJ by its Memorandum and Articles of Assodation Irevlwj 19 Ck#oFx 2012). The Soeiety gawl dwi1 Stats and was registered wth the Chadty Commlsskjn on 16 February 2004 (charlty nurntr. 11(Y2123). 8o•rd of Div•ctorsrrnMt••s: So¢W 18 by a Boa of ARCOS has owrendy seven Board mgmber8 lindLAliwJ a Chaim)8n, WtC9 Ch&ivman. Treasurer aThJ Stcretaryl megt at least onc8 par year or as needed In an annu81 general meeti. The Chatrman or In his ats8nL the VI ChaiMn chairs t meeting. Any other m8mbsr 8knted by m8mbern can ¢air Ihe meeting rf Chalmian and VI Chalrrnan are not presenL The Bcerd r8cruits and aFwnts Tr%180S thay ojnslder will bring valuat aftd prdctical skills to the Soaety. All n8w trustees reCe 8 ftAI Fndudkin so thal they can familiarise thveS with their ststutory responsib18$. their rolg as )d members, the govemance framewcKk wilhin ARCOS and the risk enwronment. Ongoing tratrj is arranged as a1 when a is Klentifigd. Management commlttee: The Chairman. Vtca Chai. Tr8ayJrer aThJ lef Exec#Jtive Officer shall meet as th8 ManageTrent Committe8 * suc int8rva15 as the Boa-d of Dir thinks fiL The Management Committee shall rev1 the OFeraliony arKI thttns of tho Socgy aThY reput the findings lo the Boarf of Directors. Stsff posltlons: The Board of Directors may appoint suth pwsons as thlnks Ilt to kXSSt wKluding a position wtth ov8rall re5FonSlbity for op8rathThl matters Ivtsxe ftxmd tlde may vay bLrt heTeaftor known as the Chief ExecutNè Officer). a1 ch othw salariwj or vcknlary staff KK)Sts on teTm$ and condltionts. including remuneration and beneffls. aTKI with suth duties and fespwblilies as tho Board, in its entire dis(¥8iion. think$ fft. The Board may. at any time. vary or aller the tern ayj Ca)rKlitions and th¢ ¢Juties and r88ponsibiltiies of these wovthl afvtsys that no Dwectors shal ocwy any of Ihese posts. The Chlef ExecLrtfve OffIr shall be the ¥enlor fflemr of staff of the Sow. arxl shal ha¥e re4Sity for cr¢atj the knety aL#lvllies anfl P*Jg 8
ALBERTINE RIFf CONSERVATh)N SOCErY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 STRUCTURE. GOVERNANCE AND IAA14AGEMENT ICOFrnNUED> b. Trustees Th8 Trustees in oflk duiwy wt cf al of the end&J 31 Dwxmber 2022 Y•ETe: Mr John Yonazi Salohe Dr 8r¥Jrtte NyiramiN9ngutsg (wi Chaifprnn) Dr Victor Nyarangi Keraro reasUrer) Dr Jane BeMIgha Mrs WNine NtamubaTh) (Ra$Wl 4 Awt %)22) Mr Elle Nvz8wmana ttr Adlle Mukashema Dr Charfes KahiTh Plans for futur• p•rlo With over 150 staff and 12 projects in 2023. ARCOS antsopates to activety thaprffJ bh)JNer8ty Conservation and OCOSJBtem fOSt(yatiC as a¥ nMUnty dwe¥ 01 the Ajberiine Rfft rogim and beyond as hKJhlighted below and we anticipate to tyjntirw to f(K>J5 on funds from varlws sources to athieve the goBls of our dlfferent pnxarnme are89: Fdlowing the Board of Trustees. deasKJn in kngust 2022, ARCOS wiN launch a wionai new programme on NGO Partrwship aimed at enhanong (tboration, aThJ IMpt wtlh NGOS in Africa. ARCOS ha¥ already SeCud over USD 1 Mthion under this partnershi). Through our scAbJ fvndralsing and partnership wogrnmmes. ARCOS 8eoJred a rTW Cathn Finan PrO1t through ts partnershp w6th Circular BOMyAlILqni> and R8fore$l Action on"Building resilience to dimat8 thang8 aThl Sustsinable agrtarfture value chains in agrsMS around Mukura Forest aryj Lake Kivu Catchment Landscape. westem Rwanda IMuLaKiLa Prwt)" with USD 1.2 Million for the plot phase n 20Z3 and totsl budget fArnty estimated at 50 million over 30 years. Bulding on ARCOS. re(wnized ka(ler5hip 8n Intemationaj Award on Landsca Restoraléon. we hav8 S8¢ured a grant of USD 3 MIlK the W 5 ypars to 8sts1Ai3h a regbnal cantr8 lo supp)rt k¥xl actors in landsrApe restorakn arJitleS. As part ofits Afric SLtstsin8£Ae Progfamm a1 after ¢¢eS$fLI proigci to C4Jmpli e Climate Ch8ngè Adaptab"on solu118 East Afrioz as part of th9 proje("Mountains ADAPT- Advancing Climate A0.. ARCOS has secaed new grdnt from UN Environment Programrne to promote and acceler8t8 Innovative mountaifi adaptakn acai(m at kx¥l 8cakn through developing, setbrw up and tasting a srn grants fiJnthrvJ Scheme (SGFS). Page 9
ALBERTINE IIIFf CONSEIiVATION SOCIETY TRLISTEES. REPORT {COPfflNUED) FOR THE YEAR ENDED )1 DECEMBER 2021 STATEMENTOF TRUSTEES. RE3PONSIBIUTIES Tru#ees (who •1sts the dlF•dN8 of lh• Soc? for thg puffjn585 of cgmpany law) are reSpOltIe for ep8riW thè Twste•s' Report 8fKI Ihe fin8nd81 stateThIS In accoTdanc vhth applcable taw and Unlted ngdom Arunti Standath (Urnt•d KMyJ(rfn GÈnwaI A¢¢WAI Pia(Alc8). Cowny Iw reqrn5 the TrEtha# k> finaN¥al stalenprfs for each fimndal year. UrKJer law. Ihe TnJsl••s not apfft the finandal 8tslenwts unss they ai¢ $8tiYfd Ihat they gNè a Irva and fair ew ofthe slale ol 01181 of the Souety aThl ol its Tesources and appfrcatitin DI resources. incluthng ts In&imt and •xpenditur•, for that pgrk)d wepartry thèse finandal state, the Tntstee$ 8f• requiftd lo: èlecl accourllng piS¢ies then aF Ihtm consistenty. ob5eN• the rfh(ls and winrJr4e5 ofthe Clwnb•5 SORP (FRS IQ2)' make ILJgments and 8¢&JuntirvJ estltrths that awe reasonatAè ?j wudenL' state whèther 4pF4fj¢8bl• UK Acp)unliryJ IFRS 1D21 have beèn fvlltr¢d, su¥ei to any nwteriol departvr85 dIsed explained iri the financial str1en5. pare the knrK4al sLit•nnts Dn thè il is hwpwiwe to Sume that the So(¥ety ll C4Xbfjnue in trw8ir. Th• TN¥tees respOnbI0 fN ke•riw &lequth acCo¥r r•taNth that aTr sufficienl to show expfain the Stety$ iransacon5 and dirydose ith reasonab awJr8Cy at any tin the finandal s)ositi'on ol the Socyety 8r#J en8b them to enwe that th• fj¥al $te¢1 ctynpty ¥7th the Conyar#e¥ Aci 2C#X. They ar• a re¥pOnsIb for safeguaftling the assets of S( wJ hence for 18klng Teasonabltr ¥teps for the preventlon and d8on of fraud end other1Th8guknalie& DiKI(tsur• ol Iornn to •udltors so a5 th Trustsg b awar¢. there 18 no reknanl infNff4ioD ofThtk th• authtors aw unaw8tE. ènd that has tsken al the sleps tIAt tr have bgen tsken 49 a TnAkn¢ in othr to be ¥4varn ol any r•lEvant Inknmti(m and kn e51aithh #tthe a0[5 am ¥war• tsfthat inf£qNwtron. uprCe iry ordw ofth• dth• boorf ofTnth6s aThl Dn Ihw bohalfbr. John ch Or Sam Kany*rnibwa CEO and 8•ci•lary Dat•. l £0£3 EpIFicofisER¥4FIo Pooe 10 cs CamsL.ner
BEirnNE RIFT CONSERVATION 8OCIErY INDEPENDENT AUDtroRS' REPORT TO THE MEMBERS OF ALBERTINE RIFT CONSERVATION OPINION We have ajited the financial statnIg ofA1bertW Rift ConservaiK)n Soca8ty1th8'societyl for the year ended 31 Drnber 2022 vthich o)mprise Stsiem8nt of Fwncd A¢bvitss, the Baa[ Sh991, thè Ststement of Cash Ftows and th8 notes. induding a 5Mry of nificant acXXnting The financial reporting framework that h88 twi ap[ In pwaration Is a[ICable law a1 Un6ted KFrydorn Accounting Standards. indudirvJ Finarnl Rem'ng StarKlar(1102 The Fwanaal Rekxxbng Standard apr4icablè in th8 UK and RepuLlic of IrelATr (Uniled Geknoed ALJuMirYJ Prnaic2). In our Ink)n the finarKa81 Stater. gbve a true and f8irview oflhe slalo Of chw#8Lrfè ccrfnp0n3 affairs as at 31 Docamber 2022 ar of118 irwming resourc£s )d aptkntlC of re8wrw indudr rEs Inm and exi)en(libJrg for the &par then erthd: PraLti.. and BASIS FOR OPINION We Conduad our a(MJtt in &e¢yd8n wilh 1ntWnati S18ndard$ on AlI1a (UK) IISAS (UK)) ènd applicable lew. (>Jr rasponsibililies uFKJer thtso standarts aro further destribed in the Auditcrt re$ponsibHittes for the audtt of the finanrAal slRtements of our fyporL We are IrKlependent of the ch8ritable company in 8CLxJrdance wth ttte ethical requiremerrts that relevant to our a4Klit of tha finwal statements in the unit Kirydom. induding thè Fmn¢ial Rwrthg St. and Ve tuffill8d our other ethical res[31119S in aCCn(S wth these requwnents. We believe that the a1 evide wa have Obtaed 18 sufftient and appropriate to provid8 a basrs for (w Op CONCLUSIONS REIATING TO GOING CONCERN In auditing the firn81 S&itements. have ts)nckn that Ihe Truslo8s' w of the going f>)ncem basis of Based on the work w9 have p9rfoffld. have J8ntifjed any maleTial uncartaw)ties relatirvj to evenl8 or Jnditkjns that, IrKlId cr collectivdy. may wt swcant dbI on the Laritabie comPanS ability lo ¢tinUe as a golng o)ncwn fix a i)orK¥J of at knt kn¥dve months finand81 ststements ar6 authorisad for issue. Our r84K)nbIltI8s and tha reskJwblttios of tha Truste8S 7hrylh r8SP8Ct to w4ng ccfflcwn &e da$11 in tt relevant seclions ofthls reprrt P8ge11
ALBEFrnNE RIFf CONSERVATION SOCIErY INDEPENDEKf AuDORs. REPORT TO THE MEMBERS OF ALBERTINE RIFf CONSERVATION SOCIEfY (CONTINUED) OTHER INFORMATION The other inforryithn ¢))mkYis8s ts InfTr-nwIh induded Annual RepJt other than the financsal 8tatements and our Audith. Repxi thereon. The Tnjstees are re¥Jwble for the other infrThation containeej within th8 Annua Re( Our opirucffl on the fina4a1 statements d088 mt cow the other informab'on and. except to the exient otheThAse expliiityslAted in our reprt do express any fom) of assur8nce con(4usion thereon. Our reSF1lty to fead olher infornth and. in doing so, (tsIdr whether the other infomi8tion is materialy inconsistent with the finaNial staternts or our kn(yhledg8 obknned in the course of the audiL or othentyise appear5 to bè rnaterity misated. K Klentsfy suth malerid InnsISten¢1eS or apparent material mi85tstements, are wuired to deter this gr¥es rise to a material rnisstslement in the flnancial statements themselves. If, bas&J rm the work we have pthrmed. ndUde that there18 8 m&tsrial m18Statement of thls other information, are requir&J lo rewt that fact We have nothlng to report h) thi5 regwd. OPINION ON OTHER IAATTERS PRESCRIBED BY ThE COPAPANIES XT 20D6 In our ¢)pinlon, ba on the 7AAIFk und&tsken In the cowse ofts alt the inf0mtiOn gven in the Trustees. ReKMxt for Ihg >w for the financial statsmgnts ar8 prepared is co1$tent 7Mth Ihe finla1 stotgments. the Trustees, RekKJrt has been preparBd in a(d8( vILh app4 I r4iThnents. MArrERS ON WHICH WE ARE REQUUiED TO REPORT BY EXCEPTM)N In Il light of our kno4 and uThIers1¥j of ts ckntalle (xyywry its enVIrLMent obtaSnod in th& Jrse ol tha audit. have nc4 identified rThgterial mlaIrts In the Truees' ReFrf)rL We ha nothing to f8POrt in r8spci of th8 kAbxYvJ mattas in relation to which Compani86 Act 2C requir88 U8 to report to rf, in opinKx): adeqLFate awymtiro refJ)rts hav8 rK>t Lwn kep( adequata for cyjr audlt have not been roceived from brarKes not wslted by us; or thg final¢81 Statennts are in agreement with the accounts reLud$ and rnlun%: or certain dlsdosures ofTnJstees' remuneration by law are rn)t m8de: or hav8 riot r1Ved all the infurnakn and expknatxjns raqulre for wr auttK ¢ th9 Tru8ts88 were not enliued to weparg the finan¢i81 statgments in a¢c4ydance the smaN companies r8glme arKI lake advanlage of the small comwies. eXlptis In prepariThJ the T[lteeS. Rep and RESPONSIBILMES OF TRUSTEES As explatned more futy in the Trustees. Re41eS Stemen( the Trustees (who are aso the director5 of charitat4e ccrfnpany f¢w Iho wrposes of company fawl arfr res[stbIg for the preparafr'on of the finanual 8tatements and for being satksfiwj ltst they gble a Irue fair vw. and for interngl ctrOl as th Tnjstees detemine is necessary to atts the of starnents that are frBe from material misstalemenl whether due to fraud or error. In prepkng th• financ¥al statemrt. the Trustoes we r&8tKTh48 fiYass8sslng thB charttsble companys abilFty continije as a gorrg t>)ncem. disckxiffj, as aFytsxble. matters relat to gory ¢oncem and using the going concern basis of ac1))un unle&8 the Truees eilher inj to liqu*Jate thè chari18bl8 compary or to ¢oaso Page 12
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF ALBERTINE RIFT C&YSERVATION SOCEfY (CONTINUEO) AUDrroRtr RESPoNSlLEs FOR THE AUDrr OF THE FINANCIAL STATEMENTS Our objectiv8s are to ot4aÈn reagjnatle ajrar ai¥Mt the staiem8nts as a %thole are fr8e from material misstatemrt vhther dug to fraud or effor, arKI to 188ue an Auditor8. Report that indudes our op1nJn. Reasonab assurance is a hoh level of Suran. 15 Th)t a guarantee that an audtt conducted in accordance wlth ISAS (UK) atwa>F detect a Materi misstatement it exists. MtSStatements can arise from fraud or error ar¥J are cOnSK n3aterial If. rKlIjuth or in ts wJregate, could reasonaily be Irregulaiilies. incJdiry frajd. are of ith laws and rngulations. We deagn procedures in line wsth our rSFst4lknOs, $din8 aby48. ts) detect mat8n.al mi8slatsments in of irregularities. induding fraud. The exlent to whith ¢)ur capth of irregLities, incaudwo fraLKI is etsllad t40w. eapabilities and sklls lo Kjentrty or reo)3nlse nortrctsnp1kqr wilh applcable IM and regulations: we identlfled the la &KI reg2tH)n5 apFIKth to Ihe thoritable MPanY Ihrtyjgh discusSn5 Wtth trustees and other Managem and from txw knowledge of caiarity a1 (panY law arKI experience; focused on Spe laws a1 regulations whith we consMler&J may have a direct material effect on the financial ststements or tho Operatio ofthe d)wilth ccynpany. Nxxling the CPan Act 2006, Chantse8 Act 2011 and taxatim legislati. in addtbon. we cx)nsidered srriiofis of other I armj do not have a direct effect on the financlal SIatsFrnts bul mt be (mral b) Ihg drftys alty10 operale or lo ad mat81ial penalties; we a5sesse(J the extent of (J)rnFliarKe ¥th tho l•¥s and r>al)nS ¥j8ntI atv)ve through making enwiries of management arxl irwting legal c0Th9$PCe avaikblo: identrfied Lqws and rgJulakn5 Ere communrated within the aLJdit tean regrIY and the leam remolned alert to instan¢es of ncm-c¥xlan thrhrt the audi¢ and we revV thè minutes of Trusteos, meetirys to klentify any references to nOrpIlanCa wlth laws and regulation. We 8ssèssed the $iisc4tibilty of tho (wWs materlel m5sstaternenL Induding oblalnlng an understsndlng of how fraud nwght occur by. maktng enquirt•s of managwnent as to v•hore they lsider? there es susceptxty to fraud, th8ir kno16ge of actjjal, 5USP8Cted and alepj 1[aJ. considering i)temal *xntrEls in to rrmbgate risks of fraud and rp11arfft wilh la and r8gatiC. we avduated the aswjmptkns WKI judgts used by marnI wiitrHn signfflcant acwunung esttmates and assessed whelher these indicated evvJer#x of mnagement bias" and fomed audri woth over ts risk of Managnt oveFTida of incILkng testing ofjoumal èntries and other adjuslmonts foraFwrwtene&s, evabJating the SInesS rntional8 of gnIficnI trartsactions Pag9 13
INDEPENDENT AUDITORS REPORT TO THE IIEMBERS OF ALBERTINE RIFf CONSERVATION 80CIEtY (CONnNUED) quwlng of managerrtht as to aclual and FX)lentiallg8ti and daim& and arbd tho charl8 l&Jal advtscAS (¥rt ap[AatrI> Audlung siand8n18 also Imnit the alIt prcKedur8s requir&J to identify non C1)mlanCe vith law8 ar wuL8tp)n to onquiry of Ihg directors aThJ o¢lw managefflt of ro•dabyy O)rr98pOlen¢e. rf A fiJrth8r dPkn of w resp6[8 for th8 a1 ol firondal Statow 18 located on ts Flnanclal Reporting Coun(#f$ wd)5ite at bli . ThL8 form part of our AudStor8' Rekmxt ThIN rop¢yI Is mad• tyt0 thrtaLl8 ryjnytys be. as a btxty. ¥&ith Chaptw 3 01 Part 16 of thg Compani88 Act 2Cth. aL#t Iw$ urKlertak8n w that we mht atste to ts dwitable Nlkkl Loan FCA (8•nlor 8tstu *A for and on behalf of Sallsbury Housè Station Road C812LA Dale.. 1311212023 14
CONSERVATION SOCIErY STATEMENT OF FINANCIAL Acrivrn {INCORPORATIIIG INCOME AND EXPENI)tTURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 Totsl nds Total funds 2021 fvnds fund¥ INCOME FROM: tk)natK)ns andlogadgs 1,739.973 29,314 1,446.804 20,371 29.314 TOTAL INCOME 1,739.973 29.314 1,7,287 1.467.175 EXPENDtruRE ON: Charitablg acb¥itie8 1I7&098 69. 1,942.996 1,158.668 TOTAL EXPENDITURE 1.871098 1.942.996 1.158,668 NET (EXPENDITURE}IINCOME Transfers btrtween funds (131125) 1150,624) (40.584 1SO,624 1In,709) 308,5)7 12 NEf MOVEMENT IN FUNDS 1281749) 110,040 {173.709) 308.507 RECONCIUATION OF FVNDS: Total fiJnd$ broughl forwdrd Net movement in fLMKIs 9WT12 {173.709) 598.265 308.507 I2749) 110.040 TOTAL FUNDS CARRIED FORWARD 399.181 333.882 733,063 906.7T2 Pau8 15
ALBERTr4E RIFf CONSERVATION SOCIETY REGISTEREO NUAIBER: IM103917 BALANCE SHEET A8 AT 31 DECEPIBER 2022 2022 2021 FIXED ASSETS Tawblo 85soIs 500J56 524,927 CURRENT AS¥EY3 Debto Cash 01 hnk #Thl li tond 10 49,848 527,900 283.121 5T1.748 Crethlors.. falwJ du• bilNn ong 11 I110AOO) (795.903) PIET CURRENT AS8ET3 231707 381145 TOTAL NET ASSETS 733,0$3 CHARITY FUNDS Restiicted funds Unrestricted funds 12 12 399.181 35JW2 882.930 223.842 TOTAL FUND8 The TnMt•e$ 8¢kntywlethJo Ir £Thrj ol th• Acl with IpgpeL tn •c¢ountlrvJ rtsJ¥ds ofln•K301 st&on The fjnond•l statwMtsw•re WKI for1s¥ua Tnwt•os and gj on tholr wrf¢ONSÉRTrAT104V John sa Chairffrust•• Dr Kany1•4 CEO and S•¢f•t FISERVAnoNDuW The nLtss on wges 18 to 35 knn wl (rfthos• 8t*rn•nl& Pffj• 16
ALBEKnNE RIFf CONSERVATION SOCErY STATEMEKf OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 CASH FLOWS FROM OPERATING ACTMTIES 14 (268,109) 339,824 CASH FLOWS FROM INVESTING ACTivmES Purchase of tangiL8 fixed assets Inccrfne from inveslmgnts (5.984) 29.314 {15.9¢101 20,371 NET CASH PROVIDED BY INVESTING ACTivmES 23,330 4,471 CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR Cash and cash ulents at the of the J (2H7791 527.900 344,295 183.605 CASH AND CASH EQUIVALENTS AT ThE END OF THE YEAR 15 283.121 527.900 The nole8 Poges 18 to 35 fomi oliw Sts1 PwJg 17
NOTES TO THE NANc STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POUCIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEIAENTS Thg flnan(xal Statern ha been WHWBd in Ch8rMes SORP (FRS 102) . Ac£ountirvJ and RewrbrvJ by Char. Stst8ment of Re(xJmmeThled Prad¢ applicab to charlties preparing accounts in accord8n 7hTth the FinanThal Rew1irNJ Standard apFlicabl8 in the UK and Republic of Ireland IFRS 1021 (effectThp 1 January 20191. Ihe Fmanctal Reporknng Stsndard apF4icbl6 in the UK and Republ of Ireland IFRS 102) thmpanies 2006. Ajbertine Rift Consefvakn Stijety the dthtl of a p4t4ic benefft entity urKJ8r FRS 102. Assets arKb lithlths are init• rwnised at hISleI c4)sl or transaction value unless OTwise 1.2 GOING CONCERN th8t the Seaety has adeoue resour$ to fthtinuo in operational e¥en¢e for a period of at least ve months from the date of approv of the financi stateTrnts. As ¢yJUlned in the TTUStees' report, the Trustees are maknng efforts in fvndraising lo ensuTr that rwi fijnds are available to supwrt organisalional o)sts and that they nement prLyects in lin8 Mth fvnders requiremants. F¢y this reason, they conlinue lo 1 the going Lx)nrn baw"s On preparing the finanual statements. Retsr lo Trustee reFMJt frKfurther referen. 1.3 COMPANY STATUS chantable statys. Staius was gained on 16 Fel)ruary 2004. The mombers of the So¢ty are the Trustees namgJ on page 1. In ihe everrt of the soc4ety beiThJ up. ihe liablbty in respeca of the guaranlBe is limried to £1 per memLw of the Society 1.4 INCOME Incxjme wil be red axl the arrKWt of h)c¥>m recth8t4e (xn be nwsured reliably. The balance of inwm& re(xi¥gd kn Sper& PUFFQ8U but eXpded duitrw Ihe p8rkJd Is sh¢M in the relevant furKIs ¢xt Ihe nce Sh88L Where In(x)me is received in adv8nc of enlitlemenl of eipt, its rwnilion 18 deferred aTrJ hxjuded in iYeditor5 as d¢fwrnd income. Where entiuoment Donations rec4yJniJ rMc8 the Soc has entttlemant tr> ts fjrK). it is probabE8 th8t it will be Income frDm fijnds held on derKxlt KKknknI when r&xivable and the amount wi be meBsured reliably by the Socaety. this is nonnaHy Up nCfi(S1pJn of the InteSt Paid (r payabk ty the bank. Rental incomg Is r8wise(J in the tr) it r81818S. Pau8 18
NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNnNG POUCIES (COPrnNUED) 1.5 EXPENDMJRE Expenditur¢ 18 rwnlsed once there 18 a lagal or oxth¢tr 0tIOn to tralfer economic benefft to a third party. ri is probatAe that a tfdnsfvr of ec0m¢ benefrfs vrdl be wuired in settlement and th8 amount of the otdigation be measured rellay. Enditre is dassthed by 8ctivlty. Tha costs of each athty ar8 made up of total of tjrect costs and shared tyjsts. dd[r¥j support costs Invo in undertaknng each actsW. Direct (x)sts attributab to e single aclivity are allocated di18cUy to that activity. Shared costs whth Ctsbtribute to mwe than one athity and wpport u)sts which are not attrFbutsble to a single actswty are apF[l¥1ed bglween th08e aetivibes cn a basis consistent wtth the use of Ypsources. centr staff c&)8ts are the basis of tkne spwL and depreclauon charges allrtsled on the pjrtion oflhe asset's u. SuFpNI costs thoÈe o)8ts inffed dyecuy n suFpyt of exper¥IT on the objects of the Society and indude proifjcl markagemènt ca1& t at Head Office and are albca to Projects based on staff Ime. vernan costs are professA and a(xx)untancy ¢>J8ts and are Included In 8UPFQrt costs and alcKaW 8X)rdi. 1A FOREIGN CURRENCIES Monetary assets and deM[n8t8d n fLYeign curr8nd98 are translated ints) douws al rates ofexchange ruliThJ al the retM)rting d0. TranSathC in foreign ¢TheraeS arn trad irto dckn at the rnte on date of the transackn. Excharrfje 95 aThJ h)5w arE rac03n11 kn lh8 Slatement of FInaThal A(vib8s. 1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION T8nglble fixed assets c05ting $4 ( mrye c¥Wsed and recognised when fijture eL%Jnom beneffts are pr(& and the ¢>xt or ¥8• of Ihe asset b8 measured rellatty. T8ngit4e fwl assets are willty recwi8•J at cosL A)lerrerA)gnknon. WKleT Iho (y)st taThJlt4e ffixed assets are me8red at rDst 105s accumdated d8prÈaat and any armUlated impairmont It)sses. Al (x)sts incurred to bring a tangi4e fixed asset into its intWKlad workong condltlon should be Indud8d In ItK measurnm8nt of o)sL Dopwiation is Char so as to aktate the co of tangit40 a88ets k88 their re8idual value Land BiJikliTrJ mot vehid88 Offlce equlpment .20Jw P9 19
ALBEKllNE IIIFf CONSERVATION SOCErY NOTES TO THE F114ANCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNnNG POUCIES (coKfiNUED) 1.8 DEBTORS Trad9 a1 olhèr d8btor8 8re rwni*J at ts 8etUemwtt amount after any trade thsctsunt offered. Prepawnents ar6 valu&J at the arUnt net of any trade discounts dua. 1.9 CASH AT BANK AND W HAIU> Cash at bank and kn haTrJ iNJude5 ca8h and shterni h¥Jhtry iw8stm9nls wtth a short maturrty of throe monlts or1gS8 from tho dats of C opening of the deposit or simdar account 1.10 UA8KrnES AND PROVISIONS Llat#libes ar8 rewgniwl thtffi th8re is an at the Bala Stt date as a result of a past event. Ét is prob8bte thal a transfer of econcrfniG benefft 711 be required in settlement and the amount Lith1th8s are reccgnised at t amount Ihat the ety antrcipatss il wa pay to setue the dabl or th8 amount it has rec8Ned as adand pnents for the gorxts or serVaS it must provide. Provi8iorL8 are measured at the best e$thrte of the arnunts r9quir&J to sètle tho obligation. Where the effect of the time value of mcTry is m8tert81. the [vIsion is tosed the Present value ofth088 amounts. dlsc(yJnt8d at the diso)unl rate that Teflecas the risks swyfic to th8 liabrfty. The unTrMnding otthe di5c4)unt is recoJnis8d in the Stalement of Finandal Adivities as a fiThan }St. 1.11 FIP4AI4CIAL INSTRUIAEIS The Sooety orty has financkqt assets arml rXal of a khyj that qualrfy as b8C fillancial insbwments. Basic Ilnanc4al instnrnts are initsally r8cx)gnls&J at trawcti¢M value and sutrwuenuy mffiqsured at their settlement Wdbje with the exc8Ption of bank k)ans which are subsaqugntiy 1.12 OPERATW4G LEASE3 Rentats paKI under owating 18ases chw to th8 Stslement of Firal Acbviknè5 on a str8igh14ine basis overthe1&8se term. 1.13 PENSIONS During ts ypar tho nInuted tthYard5 Ihe NaTraI Sccial Swjjrity Fund on behalf of its employees and the pension presents the arnnts payable by the oJmpany to the fvnd in rer1 of the err0 0)ntribUti lor that Pag8 20
RTINE RIFT CONSERVATION SOCETY N¢yfES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2Q22 INCOIAE FROM GRANTS AND L)ONAT1014S Total nds 2022 fund5 GRApirs EcoThS¢(K)ts FourKlatK)n AJemar$-Watk1ns (FAWI Global Nature Fund IGNF) LSvelihoo(Is On8 Tree Planted SainsburV8 Sustainablè Deveknprnwrt GL ISDGP) Unltod Nattons Envlronment Pr[4jram (UNEP) GIZ-WEFE FONERWA4AF AFR100 Tetramatch TSF Zoi EnviTonrwrt Ne Leuphana UnNerslty ALINEA 19&431 84.389 34.967 760.427 31.995 13,140 51,493 21.IXO 76,381 240.1 141.985 37,927 1,972 6,3Y3 42.543 195.431 84,389 34,967 7fj0A27 31.995 13,140 51.493 21.000 76.381 240,000 141,985 37,927 1,972 6.323 1.739,973 1,739.9n Restricted inwme M¥LY4ly Indudes an a81 to ovethèats. Ccts rdaung ttl 8UPWrt for each project are charged dlrth to the relet gwL Supt#M rb"rMJ b finance and operauons are alo&thd to projera5 based on tlme 5penL Pag821
ALBERTINE RIFT CONSERVATIOII SOCIErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2022 INCOME FROM GRAFifs AND DONATIONS {CONTINVED) Total funds 2021 ftjnds funds GRANT8 Eo>Schools FtyjndatI Audgmats-walklns {FAW) (job Nature Fund (GNF) JRS 86.868 78.068 2.296 39.000 978.887 127.990 46.485 85,574 78. 39.C 978,887 127,gJJ V8lthocJs One Tree Plantgd Sustainable Devglopmgnt Partr (SDGP) Uniled Nallons Envlonment PrD3ramme {UNEP) 85,574 Totsl grants 1,445,168 1,445,168 Donations 1,445.168 1,636 1.446,804 OThER INCOMING RESOURCES Total funds 2021 nds 2022 fund• 2022 Rental Iro)mo 13.644 15.670 13.644 15.670 11.371 29.314 29.314 20.371 Page 22
ZNO>n sofi•Zrn_ ) C ID OJ 88. Ilillill o) Itis$. ij, O tt* ow
ÈSI"%l£¥ F m<CCJ zmzo ) cfl)z xz
ALBERTINE IIIFf CONSERVATION SOCIETY NOTES TO THE ANANc STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FINANCE OPERATION . SUPPOKt COST Total nds 2022 funds fund• 15.on 4.tr25 15.073 Bank chapJ8S Depredatbn ForavJn ax¢hw8 Office costs 30.555 47,050 38.763 16,472 30,578 38.763 66,725 69.341 136,066 funds funds 2021 lunds 2021 Audit and accounts 51 Bank chOffJes Deprgoatton Foretqn exch Office cA)8ts 13,130 5,518 35,512 55,357 13.130 5,516 35,512 55,357 29,992 17.535 17.535 139, 17.535 157.044 Page 25
ALBEKnNE RIFf CONSERVATION SEry NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 AUDITORV REMUNERATION 2022 2021 Fees paythe to the Soodrfs aUdTrt in re8P8L# OP. Tho aLkJ4t ofthe CnPa$ acwnts 11,759 4317 9.675 STAFF COSTS 2022 2021 Wages and sdartes {NuK) 523.396 27.740 389.286 19.321 551.136 408.607 2022 2021 No. Managemerrt Schc(I One Tree Planling SDG FAW Cllmat8 Ch8rye FR TSF FONERWA GNF UNEP 91 75 P2fj
LBERTINE RIFf CONSERVATION SOCErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 The Society used one Volun duriTr3 for some of th8ir alm1ntstratp w(¥k They also used The Swaty used on8 vdunteor during the a rllnfrmonth Per5. The vcluntser contrfbLrted to tree planting and mafjntenan pro¢SeS urKler Ihe agrof• for livdhood proirt assistiNJ ARCOS stsff In training 1 communities in h(A¥ to plant and maintain trees in RuSndo and Buge8era Distri¢ts. His assistance made a sh3nEran1 ltributiOn lo the surwval rate of trees planted proj&t and the 8UStainabllty Impact of the wc¥ects aclivllies. No emrAoyte aMnti¥J to nxp than 2,3{£80.0()) in erther T. Trustees ExecutN8 ttor Head of FirnCIal Managmit Head Programme Devdopment and CcNrfina Head NatUf8 Based CcM)7munity D8vekpment Pwramm8 and cNdIn810r Head of Execthlve Office ER Head of CDrporate Services Tht tot81 eM[ent beneffts induding empws $81 security perlon (tribUtionS of the key management personnel were $152,184 (2021 - $1,1631. In additwt staff loans of $11.940 (2021 - $8.3171 remained outstanding al the erKI of the pr. Staff toans are availabb lo key rraUernent on the sarne tenms as al other staff. TRVSTEES. REMUNERATION ANO EXPENSES Dudng Ihe >wr. no Trustees ary Uneral w other bffl5 (2021 . SNILI. During the yew 31 1)01xffl 2022. extwtses bjwing $923 Wore reiMbu0d or pahj directy to 4 Trustees 12021 - $1.423 to 5 Trustees), in respect of travel, aC4))mndati0n aTwJ subsistencg cost Inn in Iheir ro a8 TFUStee& P8g8 2T
AL8EKllNE RIFf eON8ERVATION SOCIETY MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 TANGIBLE FIXED ASSErs Bulldlng vehlcles equipm•nl •qulpment Total COST At 1 January 2tr22 Addthns 410.722 141.950 640.147 5.984 At 31 December 2022 410.n2 141.950 ¥526 68.933 646,131 DEPRECIATION At 1 January 2022 Charg8 fortho ye •714 12,905 17.6& 8.784 30,555 At 31 Docember2022 51.619 20.714 61.828 148775 NET BOOK VALUE At 31 December 2022 399,108 .331 3.812 7,105 500.356 At 31 t*¢ber 2021 404.915 103,236 6.871 524,927 The oxt ofthe lartty vm aFpromtdy $276.722 (3)21 . $276.722). 10. DEBTORS 2021 Due wllhln on• yo Olher debtors d income 17.279 32.569 118.043 129.986 49,848 28
ALBERTINE RIFf CONSERVATION SOCIETY NOTES TO THE NANC STATEME14TS FOR THE YEAR ENDED 310ECEMBER 2022 11. CREofroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trad8 tteditors Other taxation Bnd g(hial seoHity 1,129 38.918 39,172 44,433 46,712 65.588 1N400 195,3 Deferred Inoyne relates to Incthne rg¢eived for FtsJKlakn AMar5-W8lkIns (FAWI project Ith8t must be used In the nextknnoal Jpar 2023. 2022 2021 Deferred Irthr at 1 janu 2022 Re80ur¢es deferred during the r- Found8tton Audem•Walkins IFAW) pryt 64586 408 165.586) 65,586 W08 65,586 Pag8 29
NOTES TO THE FtNANCIAL STATEME14TS FOR THE YEUI ENDED 31 DECEMBER 2022 12. STATEAIENT OF FUNDS STATEMEKf OF FUNDS- CURREKf YE*A BalaTh¢o at 31 00br 2022 Balan¢¢ at 1 Janu kncome EXpondIre Transfers UNRESTRICTED FUNDS Gonoral funds (unreslriraed 29.314 I.898) 1SO.624 333.882 RESTRICTED FUNDS JRS NFF-RSF Sainsburls One Trte Planted {OTPI Ecfrsthwls WF Eix) Agriculr8 Intwnaknal voliThiyJds Stolkhclm EnvIrirnent Global Naturg Furhj (GNF) Foundati Audem¥>Wallons {FAW) Unlted Nathjns EnvkDnment Programmè IUNEPI Sustainable Developmwrt Go5 Pathershrp TSF GIZ-WEFE FONERWA-CAF AFR100 Terramatrh Zoi EnrOnt Net4b LPhana Unlvernity ALINEA (X5041 (247861 (4762} (622091 11,500 17,5701 13.140 31.995 195A31 1802) 18.379) (159.528 18.961 54864 19,1)08) 370,806 760A27 (972.800 158833 {5.282) {2.296) (11407) (81179) 57,691 66,674 21.1) (H177) 23.497 2V78 11961 51A93 37.927 76.381 14ts79) {2&1)03) (129,973 (192,1141 (104235 (11,728 153,592) 47.886 37.750 141.985 1.972 323 1434) (6,323) (W74) 24,331 681930 1.739.973 (1.8n,0981 (150.824) 399,181 TOTAL OF FUNI)S 906,7n 1.769.287 (1.942.996) 733.063 Page 30
ALBEFMNE RIFf CONSERVATION SOCIETY NOTES TO THE RNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2Q2 12. STATEMENT OF FUNDS (coi¥llNUED) NFF-RSF - The'seeds. S)il and Culiure Fund of RSF S#al FlnafK' providod a grant to b8 pul toward8 enhancing bKcUltUral knwledge and ec(wr[cLItu for mntall +ximiunty INelhoods arKI dimats change wlknce In Rwanda and UgaThts. OTP . One Tree Planted . ARCOS is cOlaLxJr81i ilh Ono Trag Planted to plant 28.000 tree& Sai[. In(x%ne rdate8 to I>sUlta[Y ser4x the sav$ Fauty Traded tea pdot EccSctrKth . Part crf the Danish (Xrt(kMx prOgrnMe prmtiry the W to qualty uc0 thrth EcrhScwls in AfrNX. Livelih . Thts is a prt fc¥tng on fghkng dmale d)awe arKI ellects through tho reduction of greenhouse emissions aNJlor the in(xease ol green1vse gas 88questratKJn. The proioct dso endeavouts to reduce Fwrty, rywnote pnder wlty aj indusion Stc¢kholm Enthnment . Th18 Is a pw to wo¥J8 supp(( to the EconomKs of Land Degradation GNF . Thi8 fund was rKwJinty rneY from Ihe Gktsl Biodiverw Infl)miatic Fa(?lity for workstw. Funding 18 ntr4¥ 1J T8ed from the C4obal Nakne Fund to dev¢bp8 WOFKWI. Foundatson Audemar>Watktns IFAWF This 15 a projec in supwt of the NYdgas0n Remnant Forest landscape restoralion for impTov&J livelitNyxts and llence to dimal8 change. Urmted Nations Environment Prr¥3ramme {UNEP) ryoi¢¢ is rntegraled nto plannlng and pcAicy proc8ss of regiona bDdbèfftmeworkWatlormfinllialives and tsr national o)nskncies thrOh strengthened Sustainable D¢velopmenl Gods Parkn9rsp (SDGP) Is a Agrofc• interventton8 project for uphi TSF. Funding for EcTrsthix45 as a trKA for hrtOW8tww aInabkn deNnI and dmate action the Competoncy-Based Currulum In RwaFth. GIZ WEFE - Fundwy for EnhanoNJ WatsrrwFoodEcosyBterns (WEFE) Nexu5 arKI Climate Rosi11¢* ak)ng Koko {Rwandal and Lwiro IDRCI Rivers of Lake Basin through NatUrsed Communty Entees. The defrit on thi5 lund be dwwj f¥jIng is received In 2023. FONERWA-CAF . Funding for the t8chnThl aSSistsr ot ts IMF4nts of community ajaptat facility ICAF) in Gtcumbi district ts NDC deep Dive pr AFf1(Kl Terramalch - Fundkng for ntirj trees. Zd Ennrnent NotWAk. FuThthng for C1918nto supwt urnl8rts adaptakn aItide pr(wmm8. Page 31
ALBEIMNE RIFf CONSERVATION SOCIETY NOTES TO THE FIPIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. STATEMENT OF FUNDS (coi¥llNUED) ALINEA- Funding towards the cnmu to Communty exchan. transferfrom unr8stdcted fijnds covers the overspend on trus fiuxl. Transfers TT8nsfeFB from restricted funds Io WwEsts1 fLmts have 0(rd where 8 pr(4ect has been mete and the 8urph56 be lrnnsferred to the gwa STATEalENT OF FUNDS- PRIOR YEAR BaLqnce Ba0[e ot 31 1 January As restsled A3 r8Stated D8cember InrA)m8 Experxliture 2021 UNRESTRICTED FUNDS General funds (unrestrth corg) 220,465 Z2,(N)7 (18,6301 223,842 RESTRICTED FUPIDS JRS NFF-RSF salbUs One Tree Planted lOTr} E¢So0[ vrF Eco AgrfculbJrB Irrt8rnatk¥wl Liveliho Stolkhdm Envirrmment Global Natyre Fund (GNF) FoundalN)n jdMarS-watkln$ IFAW) Unitad Nations Environm&tt Programme IUNEPI &JstslnaL4e Devdownent (S)als PartneIp TSF 39.( (24,391) 53,504 36,286 17,5761 38,593 18.961 9,495 {7.5761 38.593 21.993 127. (127,99)) I89.1) 1150) 233,736 5.282 978,887 1841.81n 370,806 5.282 2.296 58.481 78,IX8 119,587) 85,574 46.485 {18,)0) 117.107} {198) 66,674 29.378 1196) 377,8(Kl 1.445.168 11.140,038) 682.930 TOTAL OF FUNDS 598,265 1.467,175 {1,158.6681 6.7T2 Page 32
ALBERTINE RIFf CONSERVATTh SOCIETY NOTES TO THE RPIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 13. ANALYSIS OF NEf AssEfs BErvm FUNDS ANALYSIS OF NEf ASSETS BEfviEEN FUNDS. CURREKf YEAR Total fvnd8 2022 fund$ T2 funds 2022 TangiLle fixed assets Current assets Cr&litors due Within ¢)n8 >wr 142.677 361.744 (105,240) 357.679 51K•.356 51.363 413.107 (75,160) (180.400) Totsl 399.181 333.882 733,063 Total funds 2021 ld8 21 fvnd8 2021 Tanglble fix&J assots Current assets Credit(5 wlhin 1.236 775.597 (195,gJ31 421.691 (197,849) S24,927 577.748 {195.9031 Total 682.930 223,842 Sf6,772 C49rheadfNMrect costs dgets from had TK)t been luly alkvted to projeds. thrhead alloeations to restn.cted funds, induding tsaation thargts. aThJ fvrther unrestiicled bjnding will reduce thls gap. The TrLt8eS are Page 33
ALBERnNE RIFf CONSERVATION SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2022 14. RECONCILIATION OF NEf MOVEMENT IN FUNDS TO 14Ef CASH FLOW FROM OPERATING ACTivrnES 2022 2021 Net incomdlexwdiluro) f the (as per Staterrt of FwwKial Acllvittesl (173,7091 308,507 Adjustmènts for. DepreaatK)n tharges Ilrmaseydecrease in debltys {Oecreaseyincrease n IxeditS Inc#Jm8 from inveskn¢nt 30.555 (80.1381 (15.5031 129.3141 35.512 14.616 120.3711 1268.1091 339.824 15. ANALYSIS OF CASH AND CASH EQUIVALENTS 2022 2021 Cash in hand 283,121 527. Tt)tal cash and oqulvalonts 281121 527,S 16. APULYSIS OF C+IANGES IN NET DEBT At1 Jaftry 2022 Cash flows A131 2022 Cash at bank and in hand 527JOO 124T191 283.121 527,900 1244.7791 283.121 17. PENSION COMMFfMENTS During the r trItjkn to emptyrs, totaL $26.461 {2021 - $31,058). The balance ¢JJtstarKting as at 31 2022 was $2.199 {2021- $23.405). Page 34
ALBERTINE RIFT CONSERVATION SOCIErY NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIABER 2022 OPERATING LEASE COMMITMErirs At 31 Dmber 2022 the Sothty had commthertts lo make futtw8 rrHINmum18aso paym8nts lar caneAat18 operating18a8es as fthvts. 2022 2021 Not latsrthan 1 r Later than 1 sear and not knr 1217 18,0 28,080 1217 48,170 19. RELATED PARTY TRW4SACTIONS Thore wore no relat1 paty transsth0F th8 ojrrenl (f prWrf#S ar other than the transactions sdosed in not8 8. Dufyv tho a relative of one Tnlslee worked for ARCOS. IN)wever they do not have any &gnificant infiu**• on mokity. Page 35