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 N￿TarTtt￿ngutse 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 N￿hda3 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 E￿orthY & M( Chartergd Au￿ntants Salisbury H￿se 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 DeC8rn￿r 2021 The Annl￿1 ReprKI serve5 ts purpos8s of LK)th a Trustees, report and a directors, report under L￿panY 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 thu1r￿1 and the pr￿10￿$ 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 Se￿On W2 ofts c￿nPanieS 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 t*an omilt&l. OBJECTIVES AND ACTMTIES a. Pollclo$ and oblectt¥•s ARCOS establsh8d Sn 19a5 wlth ts ml55b)n to "enhanc* bic*thv8rslty cons8Natlon and sustainable managem8nl of natural ￿$0￿CeS trwh th8 womtion of cdlabora*Ne wervation acbon for Nature and People." Today, ARCOS has prowimgs exletsJv¥J be>Th*J th8 Ijtwbr￿ RI￿ Ir￿Ud￿VJ the Africa Great Lake8 region arKJ the African moLtt)t8in$. To achieve rts mission. ARCOS bulds on ts fo￿ry pkn ofts apwrAth: We f8L4ilats ￿h¥Orking wÉth lcd. natTonal. aThJ Irrt￿na￿ lo ￿$tainab￿ devek)pm8nt th￿ugh infomial#)n arKI experien￿ slwing. We empower our through polw di*y. ￿pa￿ty buldiThJ aThl ￿lcY engagemènt when ImFAementing ￿r work. We %wJrf( ￿ all kitbts oftxganoalv)ns- NG￿cB05. acalemlc institutk)ns. govemments and IncreasinLty bU￿ne$S. Our activities on th8 grcYJr￿ take an integr*d 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 retse￿J 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 Intemati￿1 NGO. wrth the Ope￿i￿al Reg￿n￿ Head Office K￿￿11. Irj a(Jdmon. ARCOS has an aprxynted Boèrd of Di18(*ors and TFUSt*s drawn Irom dtfferonl backgrounds and skllls bj board deliberatiorts, 8nd compris￿1 of repreS￿tth5 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[￿SIb￿ty to ensure the da￿t￿daY management of the organkatknn. There are ￿ar disllnctt￿tS 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 const￿On to general guidance published by the Chaiity CoMmkssi￿ tdalivj to indudiry the guidance benefft.. n&nning a charty IPB21. The Trl￿IeeS confinn that they have (* with thelr duty lo have due Teg8rd to the Charity Commission's general gu￿anCe on ￿nefit The ac1wil￿S uNlertkn during Ihe to fulfil thls oblwJatknn is ft2rth d. Mo8sago from th? ChaIm￿Tr 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 E￿￿￿riC￿￿Ure and Sustainable FLwxI Sy*an. BuAding Resilien￿ to Clknnate Ch￿e and Supporting Govemments aThJ Private Sectr to Enhancg Green D94￿nt Agerth. In the mkkHe of 2022. ARCOS ￿￿ned Ihe CEr[￿lar Allan￿ ICBA). ￿ actKm-orientd partnershlp that connects the dots b8t4¥een investors. ())Mpan￿S. govemnwtd aTKt nDn- wv8mm8nt81 organvzations and local communibes to advance Ihe cirwlar bh)eCo￿Y 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 wh￿e 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 l￿d¥cape restoration for clwnate res￿lance In R￿￿da. strategies 0}n￿de￿r￿J c*mat8 chwa rnibgakn and adaiY8kn wth the obiethts to protacl and restore ecosystems within Lake Kivu catchmenL ￿lIaThy$. and thher related tandscapes in Rwanda. The feasibility sluty on tho Refi￿ee Environmentsl pr(¥￿t￿￿? furjd prOJ￿t, Wtth the aim to exphxe th? tthntial of a cartLM prqoct on reforestal]on. a￿(￿est81￿￿. re5tcKatvJn a8 wdl as dean cookiNJ ￿tttIn 8nLI around selècbj Tekng￿ czrnps in Rwanda. The p8rtnershp with ICR Fa&lity to C(MKfuct a Va￿￿ t*ain devdwnenl in Rwanda'$ land5￿pOS to advise on poten￿al rxJmnJ)d￿6S to be develcwl arrHJrKI the agrothsty sfftm of Rwanda. In Oacémbw 2022, ARCOS Afri(a MwntaTn5 Communit*t￿C￿Munity 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 D￿eMber.11 was organise(l part of fa(alrtatsng (￿mun￿ eXp￿1￿Th 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 Tr￿Mb8r$ and tireless effort from ARCOS staff. Without yw. w(yJhJ have athle￿￿1 this mLKth this year. We wdcome yDur tt)ntinuou$ Co1￿￿￿r￿￿on 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 athle1￿1 $truf￿ant 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 dg3r*d larKI wern under T8s1￿alI0n. leadirwJ to improv*1 SYJI fertllty and doubled yiekjs for hws8hrAds practiong SJJstainable Agrsculiure and Land Management (SALMI pract6ces. The rehabiltation of NyagasgnJT rem￿1 f￿est *0 IxNttribute4J to an irK¥oase in ts numbar of plant, 8uMdlng •o¢lal c4pMal $uslainall• ¢onMnunlty li¥dihoods With stratw Flan 2021.2030. ARCOS Iws reknnt to inv&qt efforts in social capltal within al landscapes of for#Js as a ne￿ measurg to athl￿9 tran8fombatp)nat and sustainable community inslÈbJtions and Itveh'h¢x4Js iMK¥ovemenL ARCOS successfuty emKwed mc*e lh￿ 40,IXO famw ￿u￿h(1d$ In corLsorvation and landxape restoration efforts and promded wilh technical and finant)al yJptorL These communities reported a ￿tter LWKlerstsnding of enviffjnmenlal issues. dimate c*8nge, ￿ th￿r role in ecosystem restoration, leadlng to efthancad s(K?al coh8sion and tsynsf0rmab￿. The estai4ishm8nt oflocal wiat eThJin8S thrr￿h e1rnunity￿c￿5 th holpod &Jdress aTouThJ 30 eases of SLxial confiicts, pr￿oting sustsinabthty aNI reslience. mor￿Ver. the initialion dWlla9&•8ased SavMvJ aFKI Loan As>x4at￿ elSLAsl enatrAed c(*mmunities to Invest over RWF 270 M1W(￿ FeT wr, fl>s￿ln9 finanLyal Ind￿nderbr*. 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 s￿h as trpe nurs￿ d8v8lcyn&nt and value d￿InS deVeknp￿￿L Idthnalty. around 3CM) prcryert wopos* from thgse grtws Mrded gr8nts or loans, ￿rther promoting entrepreneurship and sustainablo lNdihc￿S 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 Ir￿lfig manual, ARCOS and partners have c4MdLJcled an educatK>n mapring exerose to identsfy the gaps chaHonges pertalning the effeclive imF4ement8tion of the Competence 88sed CurrIcu￿rn ICBC} as wdl as integrating the EdU￿tion for &Jslanable tÈvek)pment IESD). The r￿x￿WaS produ{￿ and Is very helpful In the identifi(8lon of onty ￿￿￿18 for tho Eo>g*xAs' pro3rdrrJTr to supryjl Ihe athl8v8mgnl of quallty education in R￿￿ja. Thr(xJgh the EdueAtk)n for SuslainaLqg Deveh)PFYWrt area, ARCOS cc*)duL#ed thorough School Enwronmontsl rEvws arKI Climate tharoe VE*￿a￿l￿ assesynents. resulilng in a signfficant increase in sbJiJents' awareness of e(x>thinktw and ￿v￿￿Ments1 v￿Ues. Page 4 TRUSTEES. REPORT (copinNUED) FOR THE YEPR ENDED 31 DECEMBER 2022 ACHIEVEMENTS AND PERFORMANCE (COIrnNUED) C￿Mate ¢harNJe adaptatth action Zones to restore degrBd*l areas and IMb)t ￿mate￿OSi$lan¢ Seeds, the The prcoram p*d a Vit￿ role in addressing social i8gJes bytraining 20.016 parnnts arKI ￿MmUnIty members. on comiwllng Ge￿Jer￿￿ y￿ti￿ IGBVI and th1ressw￿ bariers that hinder girts. educatw)n arml envirrmmental plus trrtlsl)e￿ devekwt aspects. ARCOS 8ngag&J 12,976 sknlents ojncepts. ARCOS has adopt&J th8 prrNThikn of 8(XWTKuIttKe ￿ sustsinatle fcth system under ils strdtegic plan 2021. 2030 in response to the current treThJs in pwdalK)n inrxease. hKJh dern￿ in fcrtyj and agllcultL¢ral land that exeruso immense pressure on and genwd. The prinLiplp is to afvance sustainab19 prath.ces that p¢miit pmduclion of en(wh fcoj wthil& con8eEMrg and restorrig agrwW8m land5capgs. Durfjng the star 2￿2. ARCOS demons1f￿ stgntficant Impact throu￿ Its stratwc area of 'Promoting Ec¢ Agn￿lI￿re and Suthn8tle F¢x*J s￿st￿n,. fosterry rMMtive thang8 in agricuknral practi￿ and Itv8￿￿¥)0d8. ARCOS'5 efforts ￿ womotir•J wvir(￿MentsIty and dimate-smart 8grthre practice5 y*91ded tsngiblo results. A sampte of 10% of trained famws re[￿rt￿l nolicèatle imFffovements. gjch 88 reduod rainwater run. off 8nd e[￿On at the ￿ve1. gnh8nced (2padty to La)pe em8ryw)g and diseases, a r8markaLle (kjubliw or even thplng of crop )iebJs after (l￿1stent of Suslaiw￿b1O Poricullurnl L8MI anagement (SALMI prwASces. Buiklw¥J to dinate thange. In PUT8Uft of strategK agrithre ARCOS c*￿U¢t9d three Vthe Chain8 A&¥essment Initiatives in four landscapes (Ruundo. Bugeserd. f&cumbi & lQrehe in Rwanda). The wxjuced reports 8r6 now servtng as Inv￿uable referen￿ trKls guidlng v* thats￿￿ted Inveskn￿ts arbj resoLwce m0bdlzat￿ efforts both natlonalty and at ts organiZa￿nal level. ARCOS. Commlknent to pronK)lrt sustainable f￿xI systems Ikgs had o tasu'ng Impact on lo(zl commLtnities. Thffx￿h the Im[4￿8fttatiCfI of dim*&5riiart pr￿"¢e$ and the estsblishThnt of essential Irrigation infraslrucaure, have ex[vi￿ infxeased prctyjuctmty and resllEnce in the face of en￿ronMental ChaI￿nge5. Th• Chains A$S￿nent ￿11￿9$ have pay￿ th8 way for strat8glc agricultural nat￿nal levels. Bulldlng Resllence to Clknate Clwy For the year 2(Y22, mlastw*os a(4￿8v￿1 kn "Buldlry Resllence to Cllm8te CharKJ8,' f05teriThJ kr￿)VA8dge exrjbange and cthlabo￿1￿ 8fforts aThk)rvJ nw)tain cx)mmUn￿&S fa¢ing dimale challenges. (*ary. prO￿ding 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. adaFttat￿n solLttKJns in ts East Afri(*n m0unlaw￿. These dora&mented S￿tionS 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 eVIden￿baSed 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 St*hddw3 to C(￿e￿Ive1Y address dlmate change issues affecting Mounta￿ communtlies. By k*tering d1s(YJSSM￿, kno￿e￿hdring an(J solution devdopmenL the pl8tromi kylorft￿ the unique neats and vulnwalllities ofthese reg￿￿. Its establishmgnl has strengthened c￿Perat￿ and ¢)thinatk)n arnTr￿ stakthrAder5. rewltirvJ in mcve cE*mprehen5ive and tsrgetod inltlalives to buld resilie￿ fjn￿re suStan￿ mountw"n areas. St￿￿￿￿Trt aCtt￿ents were att￿￿J in swr￿1Thj a dr(¥tsr ecorKry and wSlaW￿bl8 8g11￿lI￿re 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 train￿￿4 of 4.OCQ tea fanners led lo an impressive 80% adoption ralg of green agriculture t*acti￿. resL*tirwJ In irueased FYoduc*wty. Nnprowj soil fertikty. reduced chemlcal inputs, and •ffiGient watsr managemenL Furtr*rThKTr. ARGOS, 8fforts in 8Stablishing dr(#Jlar 8conomi8s in the C￿th0ha and Rtjkeri watarsheth invLIV￿ th? armj FlantKwJ of 3C().tXX) seedl*igs, cr8ating 200 green jobs in tree nurseries, management and ￿anting c*npavJns.18ading to 8 10% increase in the annu81 income of cooperative memb9rs *j￿ to eM￿ent opiK*httirfRs a￿1 se*JliThJ sales. Thgse achievements underscofe ARCOS, comrEtit¥nent to envircmiental sustslnabdty its instrumental role in thanong the govemtr*nVs 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 org￿lIalV)n In(#md total 8xperises propcts imp￿￿15(￿ 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￿)b￿￿￿10n. Charity does nol approach the general put41c and woths organtzatk)ns to identify p)ssIb￿ projects. The ftJndrai5ry team identif*d a tota of 12 opporbjnibes for whith ARCOS was el*Jitrk to aFfty. We have submitted 11 quality Proposa￿ out of wPMch 4 fund￿1 by Deceffl￿ 2022. Wilh this eftort, tho annual total In￿Me of tho organizali(yn reached $1.769287 (2021: $1,467.175). In addl￿)n. Ourir4J this ￿r 2022. ARCOS investod efforts in complying rfjquKer￿ts frDm stakelK*Jers arKI Orga￿tton'S intema] prKe11ures by repoTting on regular basis as r8quÈred. The percentage of totsl e¥perK11￿rn in￿￿8￿ n the ￿ 2022 pw straw FrJgv8mme arEas ts presented in th6 followng CharL Page 6 BERTINE RIFf CONSERVATION SOCErY TRUSTEES. REPORT b. Trustees Th8 Trustees in oflk* duiwy wt cf al of the end&J 31 Dwxmber 2022 Y•ETe: Mr John Yonazi Salohe Dr 8r¥Jrtte NyiramiN9ngutsg (wi￿ Chaifprnn) Dr Victor Nyarangi Keraro ￿reasUrer) Dr Jane BeMIg￿ha Mrs WNine NtamubaTh) (Ra$W￿l ￿ 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 (t*boration, aThJ IMp￿t wtlh NGOS in Africa. ARCOS ha¥ already SeCu￿d over USD 1 Mthion under this partnershi). Through our scAbJ fvndralsing and partnership wogrnmmes. ARCOS 8eoJred a rTW Cathn Finan PrO1￿t through ts partnershp w6th Circular B￿￿OMyAlILqni> and R8fore$l Action on"Building resilience to dimat8 thang8 aThl Sustsinable agrtarfture value chains in agr￿s￿MS around Mukura Forest aryj Lake Kivu Catchment Landscape. westem Rwanda IMuLaKiLa Prwt)" with USD 1.2 Million for the plot phase n 20Z3 and totsl budget fArnty estimated at 50 million over 30 years. Bulding on ARCOS. re(wnized ka(ler5hip 8n Intemationaj Award on Landsca￿ Restoraléon. we hav8 S8¢ured a grant of USD 3 MIlK￿ the W 5 ypars to 8sts1Ai3h a regbnal cantr8 lo supp)rt k¥xl actors in landsrApe restorakn arJi￿tleS. As part ofits Afric* SLtstsin8£Ae Progfamm a￿1 after ￿¢¢eS$fLI proigci to C4Jmpli e Climate Ch8ngè Adaptab"on solu11￿8 ￿ East Afrioz as part of th9 proje(*"Mountains ADAPT- Advancing Climate A￿0￿.. ARCOS has seca￿ed 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 reSpO￿ltIe for ep8riW thè Twste•s' Report 8fKI Ihe fin8nd81 state￿￿ThIS In accoTdanc* vhth applcable taw and Unlted ngdom Ar￿unti￿ Standath (Urnt•d KMyJ(rfn GÈnwaI￿ A¢¢WAI￿ Pia(Alc8). Cowny Iw req￿rn5 the TrEtha# k> finaN¥al stalenprfs for each fimndal year. UrKJer law. Ihe TnJsl••s not apfft the finandal 8tslenwts un*ss they ai¢ $8tiYf￿d Ihat they gNè a Irva and fair ew ofthe slale ol 01181￿ of the Souety aThl ol its Tesources and appfrcatitin DI resources. incluthng ts In&imt and •xpenditur•, for that pgrk)d wepartry thèse finandal state￿￿￿, the Tntstee$ 8f• requiftd lo: èlecl accourllng piS¢ies then aF* Ihtm consistenty. ob5eN• the rfh(*ls and winrJr4e5 ofthe Clwnb•5 SORP (FRS IQ2)' make IL*Jgments 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 dI￿￿sed explained iri the financial str1en￿￿5. pare the knrK4al sLit•n*nts Dn thè il is hwpwiwe to ￿Sume that the So(¥ety *ll C4Xbfjnue in trw8ir￿. Th• TN¥tees respOn￿bI0 fN ke•riw &lequth acCo￿¥r￿￿ r•taNth that aTr sufficienl to show expfain the St￿ety$ iransac*on5 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 $￿te￿¢1￿ ctynpty ¥*7th the Conyar#e¥ Aci 2C#X. They ar• a re¥pOnsIb￿ for safeguaftling the assets of S(** *wJ hence for 18klng Teasonabltr ¥teps for the preventlon and d￿8￿￿on of fraud end other1Th8guknalie& DiKI(tsur• ol I￿orn￿￿n to •udltors so a5 th* Trustsg b awar¢. there 18 no reknanl infNff4ioD ofThtk* th• authtors aw unaw8tE. ènd that has tsken al the sleps tIAt tr* have bgen tsken 49 a TnAkn¢ in othr to be ¥4varn ol any r•lEvant Inknm*ti(m and kn e51aithh #*tthe a￿￿0[5 am ¥war• tsfthat inf£qNwtron. uprC￿e￿ iry ordw ofth• dth• boorf ofTnth6s aThl Dn Ihw bohalfbr. John ch￿ Or Sam Kany*rnibwa CEO and 8•ci•lary Dat•. l £0£3 EpIFicofisER¥4FIo Pooe 10 cs CamsL.￿ner BEirnNE RIFT CONSERVATION 8OCIErY INDEPENDENT AUDtroRS' REPORT TO THE MEMBERS OF ALBERTINE RIFT CONSERVATION OPINION We have a￿jited the financial stat￿nIg ofA1bertW￿ Rift ConservaiK)n Soca8ty1th8'societyl for the year ended 31 D￿rnber 2022 vthich o)mprise ￿ Stsiem8nt of Fwncd A¢bvitss, the Baa[￿ Sh991, thè Ststement of Cash Ftows and th8 notes. induding a 5￿M￿￿ry of ￿nificant acXX￿nting The financial reporting framework that h88 twi ap[￿ In pwaration Is a[￿ICable law a￿1 Un6ted KFrydorn Accounting Standards. indudirvJ Finarn*l Rem'ng StarKlar(1102 The Fwanaal Rekxxbng Standard apr4icablè in th8 UK and RepuLlic of IrelATr* (Uniled Ge￿￿knoed AL*JuMirYJ Prnaic2). In our ￿Ink)n the finarKa81 Stat￿er￿. gbve a true and f8irview oflhe slalo Of￿ chw#8Lrfè ccrfnp0n￿3 affairs as at 31 Docamber 2022 ar￿ of118 irwming resourc£s ￿)d aptkntlC￿ of re8wrw indudr￿ rEs Inm and exi)en(libJrg for the &par then erthd: PraLti￿.. and BASIS FOR OPINION We Condu￿ad our a(MJtt in &e¢yd8n￿ wilh 1ntWnati￿￿ S18ndard$ on A￿lI1￿￿a (UK) IISAS (UK)) ènd applicable lew. (>Jr rasponsibililies uFKJer thtso standarts aro further destribed in the Auditcrt re$ponsibHittes for the audtt of the finanrAal slRtements of our fyporL We are IrKlependent of the ch8ritable company in 8CLxJrdance wth ttte ethical requiremerrts that relevant to our a4Klit of tha finw￿￿al statements in the unit￿ Kirydom. induding thè Fmn¢ial Rwrthg St￿. and ￿Ve tuffill8d our other ethical res[￿311￿1￿9S in aCC￿￿n(S wth these requwnents. We believe that the a￿1 evide￿ wa have Obta￿ed 18 sufftient and appropriate to provid8 a basrs for (w Op￿ CONCLUSIONS REIATING TO GOING CONCERN In auditing the fir￿n￿81 S&itements. ￿ have ts)nckn￿ that Ihe Truslo8s' w of the going f>)ncem basis of Based on the work w9 have p9rfoffl￿d. have *J8ntifjed any maleTial uncartaw)ties relatirvj to evenl8 or Jnditkjns that, IrKlI￿d￿ cr collectivdy. may wt swcant d￿bI on the L*aritabie comPan￿S ability lo ¢￿tinUe as a golng o)ncwn fix a i)orK¥J of at knt kn¥dve months finand81 ststements ar6 authorisad for issue. Our r84K)n￿bIltI8s and tha resk*Jwblttios of tha Truste8S 7hrylh r8SP8Ct to w4ng ccfflcwn &e da$￿11￿ in tt relevant seclions ofthls reprrt P8ge11 ALBEFrnNE RIFf CONSERVATION SOCIErY INDEPENDEKf AuD￿ORs. 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 fina￿4a1 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 reSF￿￿1￿lty ￿ to fead olher infornth and. in doing so, (￿tsId￿r whether the other infomi8tion is materialy inconsistent with the finaNial statern￿ts or our kn(yhledg8 obknned in the course of the audiL or othentyise appear5 to bè rnateri*ty mis*ated. K Klentsfy suth malerid In￿nsISten¢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 a￿lt the inf0m￿tiOn gven in the Trustees. ReKMxt for Ihg >w for the financial statsmgnts ar8 prepared is co￿1$tent 7Mth Ihe fin￿￿la1 stotgments. the Trustees, RekKJrt has been preparBd in a(￿d8(￿ vILh app4￿* I￿ r4iThnents. MArrERS ON WHICH WE ARE REQUUiED TO REPORT BY EXCEPTM)N In Il* light of our kno4￿ and uThIers￿1¥j of ts ckntalle (xyywry its enVIrL￿Ment obtaSnod in th& Jrse ol tha audit. have nc4 identified rThgterial m￿laI￿rts In the Tru*ees' ReFrf)rL We ha￿ nothing to f8POrt in r8sp*ci of th8 kAbxYvJ mattas in relation to which Compani86 Act 2C￿ requir88 U8 to report to ￿ rf, in ￿ opinKx): adeqLFate awymtiro refJ)rts hav8 rK>t Lwn kep( adequata for cyjr audlt have not been roceived from brarK*es not wslted by us; or thg final￿¢81 Staten￿nts are in agreement with the accounts￿ reLud$ and rnlun%: or certain dlsdosures ofTnJstees' remuneration by law are rn)t m8de: or hav8 riot r￿￿1Ved 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. eX￿lpti￿s In prepariThJ the T[l￿teeS. Rep￿ and RESPONSIBILMES OF TRUSTEES As explatned more futy in the Trustees. Re4￿￿1￿eS St*emen( 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 c￿trOl as th Tnjstees detemine is necessary to ￿at￿ts the of sta*rnents that are frBe from material misstalemenl whether due to fraud or error. In prep*kng th• financ¥al statemrt. the Trustoes we r&8tKTh*48 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 Tru*ees eilher in￿j 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 RESPoNS￿lL￿Es FOR THE AUDrr OF THE FINANCIAL STATEMENTS Our objectiv8s are to ot4aÈn reagjnatle a￿jrar￿ 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 op1n￿Jn. 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. rKlI￿juth or in ts wJregate, could reasonaily be Irregulaiilies. inc*Jdiry frajd. are of *ith laws and rngulations. We deagn procedures in line wsth our r￿SF￿st4lknOs, $￿din8￿ aby48. ts) detect mat8n.al mi8slatsments in of irregularities. induding fraud. The exlent to whith ¢)ur capth of irregL*ities, incaudwo fraLKI is etsllad t40w. eapabilities and sklls lo Kjentrty or reo)3nlse nortrctsnp1kqr￿ wilh applcable IM and regulations: we identlfled the la￿ &KI reg￿2tH)n5 apFIKth to Ihe thoritable ￿MPanY Ihrtyjgh discusS￿n5 Wtth trustees and other Managem￿ and from txw knowledge of caiarity a￿1 (￿panY law arKI experience; focused on Spe￿ laws a￿1 regulations whith we consMler&J may have a direct material effect on the financial ststements or tho Operatio￿ ofthe d)wilth ccynpany. Nx*xling the C￿Pan￿ Act 2006, Chantse8 Act 2011 and taxatim legislati￿. in addtbon. we cx)nsidered srriiofis of other I￿ armj do not have a direct effect on the financlal SIatsFr￿nts bul m*t be (￿m￿r￿al b) Ihg d*rftys a￿lty10 operale or lo a￿d mat81ial penalties; we a5sesse(J the extent of (J)rnFliarKe ¥￿th tho l•¥s and r￿>￿al￿)nS ¥j8ntI￿ atv)ve through making enwiries of management arxl irwting legal c0Th9$P￿Ce avaikblo: identrfied Lqws and rgJulakn5 *Ere communrated within the aLJdit tean reg￿rIY and the leam remolned alert to instan¢es of ncm-c¥x￿lan￿ thr￿h￿rt the audi¢ and we rev￿V￿ thè minutes of Trusteos, meetirys to klentify any references to nOr￿pIlanCa wlth laws and regulation. We 8ssèssed the $iisc4tibilty of tho (*wWs materlel m5sstaternenL Induding oblalnlng an understsndlng of how fraud nwght occur by. maktng enquirt•s of managwnent as to v•hore they ￿lsider?￿ there *es suscept*x￿ty to fraud, th8ir kno￿16￿ge of actjjal, 5USP8Cted and alepj 1[a￿J. considering i)temal *xntrEls in to rrmbgate risks of fraud and r￿￿￿￿p11arfft wilh la￿￿ and r8g￿atiC￿. we avduated the aswjmptkns WKI judg￿ts used by mar￿￿nI wiitrHn signfflcant acwunung esttmates and assessed whelher these indicated evvJer#x of mnagement bias" and fomed audri woth over ts risk of Manag￿nt oveFTida of incIL￿kng testing ofjoumal èntries and other adjuslmonts foraFwrwtene&s, evabJating the ￿SInesS rntional8 of ￿gnIfic￿nI trartsactions Pag9 13 INDEPENDENT AUDITORS REPORT TO THE IIEMBERS OF ALBERTINE RIFf CONSERVATION 80CIEtY (CONnNUED) quwlng of managerrtht as to aclual and FX)lentiall￿g8ti￿ and daim& and arbd tho charl￿8 l&Jal advtscAS (¥rt￿ ap[A￿atrI￿> Audlung siand8n18 also Imnit the a￿lIt prcKedur8s requir&J to identify non C1)m￿lanCe vith law8 ar￿ wuL8tp)n to onquiry of Ihg directors aThJ o¢lw manageffl￿t of ro•dabyy O)rr98pO￿len¢e. rf A fiJrth8r d￿Pkn of w resp￿6￿[￿8 for th8 a￿￿1 ol firondal Statow￿ 18 located on ts Flnanclal Reporting Coun(#f$ wd)5ite at bli . ThL8 form part of our AudStor8' Rekmxt ThIN rop¢yI Is mad• ￿￿tyt0 th*rtaLl8 ryjnytys ￿be￿. as a btxty. ¥&ith Chaptw 3 01 Part 16 of thg Compani88 Act 2Cth. aL#*t Iw$ urKlertak8n w that we mh*t 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 I2￿749) 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 I￿r £Th￿￿r￿j ol th• Acl with IpgpeL* tn •c¢ountlrvJ r*tsJ¥ds ofln•K301 st&on* The fjnond•l statwMtsw•re WKI for1s¥ua Tnwt•os and ￿g￿j on tholr wrf¢ONSÉRTrAT104V John sa￿￿* Chairffrust•• Dr Kany￿1￿•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 tangiL￿8 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 ￿u￿lents 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 apF4ic*bl6 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 hIS￿le￿I c4)sl or transaction value unless O￿Twise 1.2 GOING CONCERN th8t the Seaety has adeou*e 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 ￿ ￿n￿ement prLyects in lin8 Mth fvnders requiremants. F¢y this reason, they conlinue lo *1 the going Lx)n￿rn 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 ￿r￿ed axl the arrKWt of h)c¥>m recth8t4e (xn be nwsured reliably. The balance of inwm& re(xi¥gd kn Sper&￿ PUFFQ8U but eXp￿ded 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 rec4yJni*J 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￿ nC￿fi(S1pJn of the Inte￿St 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￿ 0￿￿tIOn to tral￿fer economic benefft to a third party. ri is probatAe that a tfdnsfvr of ec￿0m￿¢ benefrfs vrdl be wuired in settlement and th8 amount of the otdigation be measured rella￿y. E￿ndit￿re is dassthed by 8ctivlty. Tha costs of each athty ar8 made up of ￿ total of tjrect costs and shared tyjsts. ￿d￿d[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 in￿ffed dyecuy n suFpyt of exper¥￿IT￿ on the objects of the Society and indude proifjcl markagemènt ca￿1&￿ ￿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 8￿X)rdi￿. 1A FOREIGN CURRENCIES Monetary assets and de￿M[n8t8d n fLYeign curr8nd98 are translated ints) douws al rates ofexchange ruliThJ al the retM)rting d*0. TranSathC￿ in foreign ¢￿Ther￿aeS arn tra￿d irto dckn at the rnte on date of the transackn. Excharrfje 9￿￿5 aThJ h)5w arE rac03n1￿1 kn lh8 Slatement of FInaTh￿al A(*vib8s. 1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION T8nglble fixed assets c05ting $4￿ (* mrye c¥Wsed and recognised when fijture eL%Jnom beneffts are pr(￿& and the ¢>xt or ¥8￿• of Ihe asset b8 measured rellatty. T8ngit4e fwl assets are will￿ty recwi8•J at cosL A)lerrerA)gnknon. WKleT Iho (y)st taThJlt4e ffixed assets are me8￿red at rDst 105s accumdated d8prÈaat￿ and any ar￿mUlated impairmont It)sses. Al (x)sts incurred to bring a tangi4e fixed asset into its intWKlad workong condltlon should be Indud8d In ItK* measurnm8nt of o)sL Dopwiation is Char￿ so as to aktate the co* of tangit40 a88ets k88 their re8idual value Land BiJikliTrJ mot￿ vehid88 Offlce equlpment .20Jw P￿9 19 ALBEKllNE IIIFf CONSERVATION SOCErY NOTES TO THE F114ANCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNnNG POUCIES (coKfiNUED) 1.8 DEBTORS Trad9 a￿1 olhèr d8btor8 8re rwni*J at ts 8etUemwtt amount after any trade thsctsunt offered. Prepawnents ar6 valu&J at the ar￿Unt net of any trade discounts dua. 1.9 CASH AT BANK AND W HAIU> Cash at bank and kn haTrJ iNJude5 ca8h and sh￿￿terni h¥Jhtry iw8stm9nls wtth a short maturrty of throe monlts or1gS8 from tho dats of C￿ opening of the deposit or simdar account 1.10 UA8KrnES AND PROVISIONS Llat#libes ar8 rewgniwl thtffi th8re is an at the Bala￿ St￿t date as a result of a past event. Ét is prob8bte thal a transfer of econcrfniG benefft ￿711 be required in settlement and the amount Lith1th8s are reccgnised at t￿ amount Ihat the ￿￿ety antrcipatss il wa pay to setue the dabl or th8 amount it has rec8Ned as ad￿an￿d p￿nents for the gorxts or serV￿aS it must provide. Provi8iorL8 are measured at the best e$thr￿te 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 INSTRUIAEI￿S The Sooety orty has financkqt assets arml rX￿￿￿al of a khyj that qualrfy as b8￿C 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 Fir￿￿al Acbviknè5 on a str8igh14ine basis overthe1&8se term. 1.13 PENSIONS During ts ypar tho ￿nIn￿uted tthYard5 Ihe Na￿TraI Sccial Swjjrity Fund on behalf of its employees and the pension ￿presents the arn￿nts payable by the oJmpany to the fvnd in re￿r￿1 of the err￿0￿￿ 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 A￿Jemar$-Watk1ns (FAWI Global Nature Fund IGNF) LSvelihoo(Is On8 Tree Planted SainsburV8 Sustainablè Deveknprnwrt GL* ISDGP) Unltod Nattons Envlronment Pr[4jram￿￿ (UNEP) GIZ-WEFE FONERWA4AF AFR100 Tetramatch TSF Zoi EnviTonrwrt Ne Leuphana UnNerslty ALINEA 19&431 84.389 34.967 760.427 31.995 13,140 51,493 21.IXO 76,381 240.1 141.985 37,927 1,972 6,3Y3 42.543 195.431 84,389 34,967 7fj0A27 31.995 13,140 51.493 21.000 76.381 240,000 141,985 37,927 1,972 6.323 1.739,973 1,739.9n Restricted inwme M¥LY4ly Indudes an a￿￿81￿￿ to ovethèats. Cc*ts rdaung ttl 8UPWrt for each project are charged dlrth to the rele￿t gwL Supt#M r*b"rMJ b finance and operauons are alo&thd to projera5 based on tlme 5penL Pag821 ALBERTINE RIFT CONSERVATIOII SOCIErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2022 INCOME FROM GRAFifs AND DONATIONS {CONTINVED) Total funds 2021 ftjnds funds GRANT8 Eo>Schools FtyjndatI￿ Audgmats-walklns {FAW) (job￿ Nature Fund (GNF) JRS 86.868 78.068 2.296 39.000 978.887 127.990 46.485 85,574 78. 39.C 978,887 127,gJJ V8lthoc*Js One Tree Plantgd Sustainable Devglopmgnt Partr* (SDGP) Uniled Nallons Envlonment PrD3ramme {UNEP) 85,574 Totsl grants 1,445,168 1,445,168 Donations 1,445.168 1,636 1.446,804 OThER INCOMING RESOURCES Total funds 2021 nds 2022 fund• 2022 Rental Iro)mo 13.644 15.670 13.644 15.670 11.371 29.314 29.314 20.371 Page 22 ZNO>n sofi•Zrn_ ) C ID OJ 88. Ilillill o) Itis$. ij, O tt* ow ÈSI"%l£¥ F mwr. no Trustees ary ￿Uneral￿ w other b￿ffl5 (2021 . SNILI. During the yew 31 1)01xffl￿ 2022. extwtses bjwing $923 Wore reiMbu￿0d or pahj directy to 4 Trustees 12021 - $1.423 to 5 Trustees), in respect of travel, aC4))mn￿dati0n aTwJ subsistencg cost In￿n￿ 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 A￿￿Mar5-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 0￿0￿b￿r 2022 Balan¢¢ at 1 Janu kncome EXpondI￿re 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) Agricul￿r8 Intwnaknal voliThiyJds Stolkhclm EnvIri￿rnent Global Naturg Furhj (GNF) Foundati￿ Audem¥>Wallons {FAW) Unlted Nathjns EnvkDnment Programmè IUNEPI Sustainable Developmwrt Go￿5 Pathershrp TSF GIZ-WEFE FONERWA-CAF AFR100 Terramatrh Zoi En￿rOn￿￿t Net4b L￿Phana 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 bK￿cUltUral kn￿wledge and ec(wr[cLItu￿ for m￿ntall +x*imiunty 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 ser4*x the sav￿￿$ Fauty Traded tea pdot Ecc*SctrKth . Part crf the Danish (Xrt(kMx prOgr￿nMe prmtiry the W to qualty ￿uc*0￿ thrt￿h EcrhSc*wls in AfrNX. Livelih￿ . Thts is a pr*t fc¥￿t￿ng on fghkng dmale d)awe arKI ellects through tho reduction of greenhouse emissions aNJlor the in(xease ol green1v￿se gas 88questratKJn. The proioct dso endeavouts to reduce Fwrty, rywnote pnder wlty a￿j indusion Stc¢kholm Enthnment . Th18 Is a pw to wo¥*J8 supp(*( to the EconomKs of Land Degradation GNF . Thi8 fund was rKwJin*ty rn￿eY from Ihe Gktsl Biodiverw Infl)miatic￿ Fa(?lity for workstw. Funding 18 ntr4¥ ￿1￿J T8￿ed 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 thrO￿h strengthened Sustainable D¢velopmenl Gods Parkn9rs￿p (SDGP) Is a Agrofc• interventton8 project for uphi TSF. Funding for EcTrsthix45 as a trKA for hrtOW8tww ￿aInabkn deN*￿nI and dmate action the Competoncy-Based Currulum In RwaFth. GIZ WEFE - Fundwy for EnhanoNJ Watsr*rw*FoodEcosyBterns (WEFE) Nexu5 arKI Climate Rosi11￿¢* ak)ng Koko {Rwandal and Lwiro IDRCI Rivers of Lake Basin through NatUr￿sed Communty Ente￿￿es. The defrit on thi5 lund be dwwj f￿¥jIng is received In 2023. FONERWA-CAF . Funding for the t8chnThl aSSistsr￿ ot ts IMF4￿n￿ts￿ of community ajaptat facility ICAF) in Gtcumbi district ts NDC deep Dive pr AFf1(Kl Terramalch - Fundkng for ￿ntir￿j trees. Zd En￿￿nrnent NotWAk. FuThthng for C￿19￿18n￿￿to supwt urnl8rts adaptakn aIti￿de 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 c￿nmu￿ to Communty exchan￿. transferfrom unr8stdcted fijnds covers the overspend on trus fiuxl. Transfers TT8nsfeFB from restricted funds Io WwEsts1￿ fLmts have 0(￿r￿d where 8 pr(4ect has been ￿m￿ete￿ 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 sal￿bU￿s One Tree Planted lOTr} E¢￿S￿o0[￿ vrF Eco AgrfculbJrB Irrt8rnatk¥wl Liveliho Stolkhdm Envirrmment Global Natyre Fund (GNF) FoundalN)n ￿jd￿MarS-watkln$ IFAW) Unitad Nations Environm&tt Programme IUNEPI &JstslnaL4e Devdownent (S)als Partne￿Ip 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 BErv￿m 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 l￿d8 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 C*49rheadfNM*rect 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 TrL￿t8eS 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 Stat￿errt of FwwKial Acllvittesl (173,7091 308,507 Adjustmènts for. DepreaatK)n tharges Ilrmaseydecrease in debltys {Oecreaseyincrease n Ixedit￿S 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 Jaft￿ry 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 ￿￿trIt￿jkn 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 D￿mber 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 relat￿1 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