REGISTERED REGISTERED COMPANY COMPANY NUMBER: NUMBER: 04103967 04103967 (England[(England] and and Wales)[wales)] REGISTERED REGISTERED CHARITY CHARITY NUMBER:[NUMBER:] 1102123[1102123]
REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES AND[AND] AUDITED AUDITED FINANCIAL FINANCIAL STATEMENTS STATEMENTS FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
FOR FOR
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
CONTENTS CONTENTS OF[OF] THE THE FINANCIAL FINANCIAL[STATEMENTS] STATEMENTS FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER 2024 DECEMBER 2024
Report Report of of the the Trustees Trustees Report Report of[of] the the Independent[Independent Auditors] Auditors
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Notes Notes to to the [the] Cash [Cash] Flow [Flow] Statement Statement
Notes Notes to to the the Financial [Financial] Statements Statements
Detailed Detailed Statement Statement of of [Financial] Financial Activities Activities
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ALBERTINE RIFT ALBERTINE RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES FOR FOR THE YEAR THE YEAR ENDED ENDED[ 31] 31 DECEMBER DECEMBER 2024 2024
The The Trustees Trustees present present their their annual annual report report together together with with the the audited audited financial financial statements statements of of the the Society Society for[for] the the year year 1st 1st January January 2024 2024
to to[31] 31 December December 2024.[2024.][The] The Annual[Annual] Report Report serves serves the the purposes purposes of[of] both[both] a a Trustees'[Trustees'] report report and and a a directors' directors' report report under under company company law, law. The The Trustees Trustees confirm confirm that that the the Annual Annual Report Report and and financial financial statements statements of of the the charitable charitable company company comply comply with with the the current current statutory statutory requirements, requirements, the the requirements requirements of of the the charitable[charitable] company's[company's] governing[governing] document document and[and] the the provisions[provisions] of[of] the the Statement Statement of of Recommended Recommended[Practice] Practice (SORP)[(SORP)] applicable applicable to to charities charities preparing preparing their their accounts accounts in in accordance accordance with with the the Financial Financial Reporting Reporting Standard Standard applicable applicable in[in] the the UK[UK] and[and] Republic[Republic] of[of] Ireland[Ireland] (FRS102).[(FRS102).]
Since Since the the Company Company qualifies qualifies as as small[small] under under section[section] 382 382 of of the the Companies Companies Act Act 2006, 2006, the the Strategic Strategic Report Report required required of of medium medium and and large large companies companies under under the the Companies Companies Act Act 2006 2006 (Strategic[(Strategic] Report Report and and Directors' Directors' Report) Report) Regulations Regulations 2013 2013 has has been been omitted. omitted.
OBJECTIVES OBJECTIVES AND AND ACTIVITIES ACTIVITIES Policies Policies and and objectives objectives ARCOS ARCOS was was established established in[in] 1995[1995] with with the the mission mission to[to] "enhance "enhance biodiversity biodiversity conservation conservation and[and] sustainable sustainable use use of of natural[natural] resources resources through through the the promotion promotion of of collaborative collaborative conservation conservation action action for for Nature Nature and and People." People." Today, Today, ARCOS ARCOS has has programmes programmes extending extending beyond beyond the the Albertine Albertine Rift,[Rift,] including[including] the the Great Great Lakes[Lakes] region[region] and and the the African[African] mountains. mountains. The The objectives objectives per per the the memorandum memorandum and and articles articles incorporated incorporated are are as as follows:[follows:] - To To promote promote environmental environmental conservation conservation in[in] the the Albertine Albertine rift[rift] region[region] (defined[(defined] as[as] the the western[western] portion[portion] of of the the African[African] rift rift valley, valley, covering covering the the area area on on either[either] side[side] of of the the rift[rift] from[from] Western Western Uganda,[Uganda,] Eastern Eastern Democratic[Democratic] Republic[Republic] of[of] Congo,[ Congo,] Rwanda,[Rwanda,] Burundi Burundi and[and] Western Western Tanzania Tanzania to[to] Northern[Northern] Zambia)[Zambia)] by[by] conservation conservation actions, actions, public[public] education education and[and] awareness, awareness, regional[regional] collaboration collaboration and and information information exchange. exchange. - To To advance[advance] education education of of the the public[public] in[in] environmental environmental conservation conservation with the with the object object of[of] improving improving their their conditions conditions of[of] life.[life.] To To achieve achieve its its[mission,] mission, ARCOS ARCOS builds[builds] on on the the following following pillars[pillars] of[of] its its approach: approach: - We We facilitate facilitate networking[networking] with with local,[local,] national,[national,][ and] and intonational[intonational] players[players] to to enhance sustainable development enhance sustainable development through[through] information information and[and] experience experience sharing.[sharing.] We We empower empower our our[network] network[ through] through policy[policy] dialogue,[dialogue,] capacity capacity building building and[and] policy[policy] engagement engagement when when implementing[implementing] our our work.[work.] - | We We work work with with all[all] kinds[kinds][of] of organizations organizations - - NGOs/CBOs, NGOs/CBOs, academic academic institutions, institutions, governments governments and and increasingly increasingly business. business. Our Our activities activities on on the the ground ground take take an an integrated[integrated] landscape landscape approach approach focusing focusing mainly mainly in[in] protecting protecting biodiversity biodiversity and and enhancing enhancing ecosystem[ecosystem] services,[services,] building building Nature[Nature] Based[Based] Community Community Enterprises[Enterprises] (NBCEs)[(NBCEs)] and[and] building[building] shared[shared] vision[vision] among among - stakeholders stakeholders to to address address threats.[threats,] Legal Legal Status Status ARCOS ARCOS is[is] registered[registered] in[in] Uganda[Uganda] and[and] Rwanda[Rwanda] as[as] an an International[International] NGO[NGO][ and] and in[in] the the UK[UK] as[as] a[a] Charity Charity and[and] Company Company Limited[Limited] by[by] Guarantee. Guarantee. ARCOS ARCOS[has] has an[an] office[office] in[in] Kigali Kigali (Head (Head office) office) and and in in Kampala. Kampala. In In addition, addition, ARCOS ARCOS has has an an appointed appointed Board Board of of Directors Directors and and Trustees Trustees comprised comprised of of appointed appointed Board Board members. members. These These Board Board members members include include representatives representatives from from the the Albertine Albertine Rift Rift countries, countries, Africa, Africa, and and other other international international experts. experts. Within Within the the Board Board of of Directors, Directors, a a Management Management Committee Committee is is responsible responsible for for overseeing overseeing and and reviewing reviewing ARCOS ARCOS progress.[progress.] The[The] Management Management Committee Committee is is comprised comprised of of the the Chairman, Chairman, Vice-Chairman, Vice-Chairman, Treasurer Treasurer and and the the Chief Chief Executive Executive Officer, Officer, whose whose responsibility responsibility is is to to ensure ensure the the day-to-day day-to-day management management of of the the organization. organization. Public Public benefit benefit In In setting setting objectives objectives and and planning planning for for activities, activities, the the Trustees Trustees have have given given due due consideration consideration to to general general guidance guidance published published by by the the Charity Charity Commission Commission relating relating to[to] public[public] benefit,[benefit,] including including the the guidance[guidance] ‘Public['Public] benefit:[benefit:] running[running][ a] a charity[charity] (PB2).[(PB2).]
The The Trustees Trustees confirm confirm that that they they have have complied complied with with their their duty duty to to have have due due regard regard to to the the Charity Charity Commission Commission general general guidance guidance on on public public benefit. benefit. The The activities activities undertaken undertaken during during the the year year to to fulfil fulfil this this obligation obligation is is further further explained explained on on the the following following pages. pages.
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ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
OBJECTIVES OBJECTIVES AND[AND] ACTIVITIES ACTIVITIES Message Message from[from] the[the] Chairman[Chairman] & & Chief[Chief] Executive Executive Officer[Officer] The The year year 2024 2024 was was a a landmark landmark year year[for] for the the Albertine Albertine Rift Rift Conservation Conservation Society Society (ARCOS), (ARCOS), marked marked by by significant significant strides strides in in biodiversity biodiversity conservation conservation and[and] ecosystem[ecosystem] restoration, restoration, all all contributing contributing to to improved improved livelihoods livelihoods for for communities. communities. A A key key highlight highlight of of 2024 2024 was was the the prestigious prestigious Albert Albert Mountain Mountain Award Award 2024 2024 bestowed bestowed upon upon ARCOS ARCOS by by the the King King Albert Albert Memorial Memorial Foundation Foundation (KAMF) (KAMF) in in Switzerland, Switzerland, recognizing recognizing the the[organization's] organization's impactful impactful conservation conservation[work.] work. ARCOS ARCOS[also] also experienced experienced substantial[substantial] growth[growth] in in its its membership membership base, base, expanding expanding from from 187 187 members members in in 2023 2023 to to 1,790 1,790 in in 2024, 2024, representing representing 22 22[African] African countries. countries. The The General General Assembly Assembly in in August August 2023 2023 was was a a testament testament to to this this growth, growth, convening convening 1,400 1,400 members. members, In In terms terms of of environmental environmental impact, impact, ARCOS's ARCOS's tree tree planting planting initiatives initiatives reached reached new new heights, heights, with with 3,080,662 3,080,662 trees trees planted planted in in 2024, 2024, bringing bringing the the total total to to 11,580,662 11,580,662 trees trees since since 2021. 2021. These These efforts efforts are are projected projected to to sequester sequester over over 6.5 6.5 million million tons tons of of CO2 C02 over over the the next next 30[30] years. years. ARCOS ARCOS[also] also deepened deepened[its] its engagement engagement with with communities,[communities,] reaching reaching 24,133[24,133] households[households] in[in] 2024 2024 and[and] establishing[establishing] 801[801] new new Friends[Friends] of of Nature Nature Associations Associations[(FNAs),] (FNAs), bringing bringing the the total total to to 2,110 2,110 active[active] FNAs. FNAs, The The Nature-Based Nature-Based Community Community Fund Fund played played a a crucial crucial role, role, investing investing $509,423 $509,423 in in 2024 2024 and and supporting supporting 461 461 community community green green projects. projects. The The organization's[organization's] strategic strategic direction direction was was a a focus, focus, with with a a review review of of the the strategic strategic plan plan and and preparation preparation of of a a draft draft report report for for board board consideration. consideration. This[This] progress progress was was supported[supported] by[by] significant significant financial financial growth, growth, with with ARCOS's[ARCOS's] budget[budget] increasing increasing by by 296% 296% to to $14.33 $14.33 million, million, and[and] a[a] substantial[substantial] increase increase in[in] staff staff to[to][216] 216[full-time] full-time[members.] members.[ARCOS][ARCOS][successfully][successfully][implemented] implemented[13][13][projects][projects][in][in][2024.][2024,] The The management management of[of] ARCOS ARCOS extends extends sincere sincere appreciation appreciation to to the the dedicated dedicated staff,[staff,] donors, donors, stakeholders, stakeholders, partners, partners, board board members, members, and and the the global[global] ARCOS[ARCOS] community. community. Their Their collective collective efforts efforts and and support support have have been been instrumental instrumental in in achieving achieving these these milestones, milestones, reflecting reflecting ARCOS's[ARCOS's] commitment commitment to to Collaborative Collaborative Action Action for[for] Nature Nature and[and] People."[People."]
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ALBERTINE RIFT ALBERTINE RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
OBJECTIVES OBJECTIVES AND AND ACTIVITIES ACTIVITIES Strategic Strategic Programme Programme Areas Areas The The year year 2024 2024 marked marked the the fourth fourth year year of of the the implementation implementation of of the the ARCOS ARCOS 2021-2030 2021-2030 strategic[strategic plan] plan centered centered on on 6[6] strategic[strategic ] areas: areas:
I. 1. Enhancing Enhancing Biodiversity[Biodiversity] Conservation Conservation and and Ecosystem Ecosystem Restoration.[Restoration.]
- Building Building Social Social Capital Capital and and Sustainable Community Sustainable Community Livelihoods. Livelihoods. 3. 3. Promoting Promoting Education Education for for Sustainable Sustainable Development. Development.
- Promoting Promoting Eco-Agriculture Eco-Agriculture and and Sustainable Sustainable Food Food System. System.
- Building Building Resilience Resilience to to Climate Climate Change. Change.
- Supporting Supporting Green Green Development Development Agenda. Agenda.
I. 1. Enhancing Enhancing Biodiversity Biodiversity Conservation Conservation and and Ecosystem Ecosystem Restoration Restoration On On the the ground, ground, our our actions[actions] yielded yielded impactful impactful results.[results,] We[We] significantly significantly increased increased tree tree planting,[planting,] growing[growing] a[a] total[total] of[of] 3,080,662 3,080,662 trees[trees] this[this]
year, year, contributing contributing to to a a cumulative cumulative total total of of 11,580,662 11,580,662 trees trees planted planted since since 2021. 2021. Nearly Nearly 41 41 of of the the 59 59 planted planted species species were were indigenous, indigenous, reinforcing reinforcing biodiversity biodiversity and and ecosystem ecosystem resilience. resilience. Restored Restored areas areas expanded expanded by by 9,915 9,915 hectares, hectares, increasing increasing the the total total restored restored land land to to 49,915 49,915 hectares. hectares. These These efforts efforts enhanced enhanced soil soil fertility, fertility, improved improved local local water water cycles,[cycles,] and and provided provided essential essential
ecosystem ecosystem services[services] that that benefit benefit both both nature nature and[and] local[local] communities. communities. This This year year also also saw saw substantial substantial progress progress in in strengthening strengthening our our network network for for biodiversity biodiversity conservation conservation and and ecosystem ecosystem restoration. restoration. We We developed developed and and reviewed reviewed[six] six remnant remnant forest[forest] management management plans, plans, with with the the final final refinements refinements being being addressed addressed for for implementation. implementation. These These plans plans[will] will ensure ensure long-term long-term sustainability sustainability in[in] ecosystem ecosystem restoration[restoration] efforts. efforts. Additionally, Additionally, we we empowered empowered staff staff[and] and community community members members by[by] enhancing[enhancing] our our Biodiversity[Biodiversity] & & Ecosystem[Ecosystem] Restoration[Restoration] Strategy. Strategy. Over Over 70 70 staff staff members members and and 25,000 25,000 community community representatives representatives participated participated in in capacity-building capacity-building sessions, sessions, fostering fostering greater greater local local
engagement engagement and[and] expertise[expertise] in[in] environmental environmental conservation. conservation.
- Building Building social social capital capital and and sustainable sustainable community community livelihoods livelihoods
In In 2024, 2024, ARCOS ARCOS made made significant significant progress progress in in fostering fostering social social capital capital and and promoting promoting sustainable sustainable community community livelihoods[livelihoods] through through
widespread widespread engagement engagement and and empowerment empowerment initiatives. initiatives. We We reached reached 24,133 24,133 households households (HHs) (HHs) this this year, year, bringing bringing the the total total number number to to nearly[nearly][80,000] 80,000 households[households] engaged[engaged] from[from][2021] 2021 to[to] 2024.[2024.] Our[Our] efforts[efforts] to[to] strengthen[strengthen] community community networks[networks] were were further further supported[supported] by by the the formation formation of[of][801] 801 new new functional[functional] Friends[Friends] of[of] Nature[Nature] Associations Associations (FNAs),[(FNAs),] contributing contributing to[to] a[a] cumulative cumulative total total of[of] 2,110[2,110] FNAs[FNAs] across across all all ARCOS ARCOS focal focal landscapes. landscapes. These These FNAs FNAs play play a a vital vital role role in in facilitating facilitating local local collaboration collaboration and and ensuring ensuring the the sustainability sustainability of of community-led community-led initiatives. initiatives. Village Village Savings Savings and and Loan Loan Associations Associations (VSLAs) (VSLAs) surged surged from from 900 900 to to 2,110, 2,110, accumulating accumulating a a total total of of 97.2 97.2 million million RWF,[RWF,] empowering empowering communities communities economically economically with with 60%[60%] participation[participation] of[of] women women in[in] leadership.[leadership.]
ARCOS ARCOS also[also] operationalised operationalised[53] 53 new new Nature-Based Nature-Based Community Community Funds[Funds] (NBCFs),[(NBCFs),] known[known] as[as] Umusave[Umusave] Fund,[Fund,] bringing[bringing] the[the] total[total] number number of of operational operational NBCFs[NBCFs] to[to][115.] 115. These[These] funds funds have[have] been been instrumental instrumental in[in] supporting supporting local[local] green green projects[projects] and[and] facilitating facilitating environmental environmental conservation conservation activities. activities. This This year, year, 461 461 green green projects projects were were supported, supported, with with a a total total investment investment of[of] 720,614,608 720,614,608 Frw Frw ($509,423), ($509,423), bringing the bringing the cumulative cumulative investment investment[in] in green green projects[projects] since[since] 2021[2021] to to[1,142,953,660] 1,142,953,660 Frw Frw ($823,000). ($823,000). These[These] investments investments are are critical[critical] in in supporting supporting sustainable sustainable livelihoods, livelihoods, improving improving local local economies, economies, and and empowering empowering communities communities to to take take ownership ownership of of their their environmental environmental resources.[resources.] Finally, Finally, our our initiatives initiatives generated[generated] 98,421[98,421] green green jobs[jobs] in in 2024 2024 alone, alone, elevating elevating the the cumulative cumulative total total to to 115,421 115,421 green green jobs, jobs, further further
demonstrating demonstrating our our commitment commitment to to sustainable sustainable livelihoods[livelihoods] and and environmental environmental stewardship. stewardship. 3. 3. Promoting Promoting Education Education for for Sustainable Sustainable Development Development
In In 2024, 2024, the the Education Education for for Sustainable Sustainable Development Development Program Program entered entered a a new new phase phase (2024-2027) (2024-2027) after after successfully successfully completing completing the the
2020-2023 2020-2023 phase. phase. A A major major milestone milestone was was securing securing and and launching launching the the "Integrated "Integrated Action Action for for Climate Climate Change Change Resilience Resilience and and Livelihood Livelihood in in Mountainous Mountainous Rwanda" Rwanda" (CCAM (CCAM project), project), further further strengthening strengthening the the program's program's impact. impact. A A significant significant achievement achievement was was the the approval approval of[of] the the Eco-Schools[Eco-Schools] training training manual manual and and its its guide guide by by the the Rwanda Rwanda Education Education Board, Board, leading leading to to the the training training of[of] 1,602 1,602 teachers teachers and[and][48] 48 Teacher[Teacher] Training Training Colleges[Colleges] (TTCs)[(ITCs)] tutors[tutors] in[in] collaboration[collaboration] with with the the Ministry[Ministry] of[of] Education. Education. These These efforts efforts have have been been instrumental instrumental in[in] mainstreaming mainstreaming environmental environmental education education and and climate climate action[action] into[into] lesson[lesson] plans[plans] and[and] teaching teaching methodologies. methodologies. Additionally, Additionally, 35[35] new new schools,[schools,] including[including] 17[17] (TTCs),[(TTCs),] joined joined the the program, program, bringing[bringing] the the total total number number of[of] engaged[engaged] schools schools
to to 75 75 since since 2020. 2020.
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ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
OBJECTIVES OBJECTIVES AND[AND] ACTIVITIES ACTIVITIES In In 2024 2024 alone, alone, the the environmental environmental education education initiatives initiatives reached reached 16,250 16,250 students, students, 7,000 7,000 parents, parents, and and 450 450 teachers, teachers, contributing contributing to to a a cumulative cumulative reach reach of of 65,119 65,119 students, students, 38,001 38,001 parents, parents, and and 2,052 2,052 teachers teachers between between 2021 2021 and and 2024. 2024. Furthermore, Furthermore, 11 II schools schools successfully successfully completed completed the the evaluation evaluation process process and and are are qualified qualified to to receive receive the the prestigious prestigious Green Green Flag Flag Award, Award, recognizing recognizing their their commitment commitment to[to] sustainability. sustainability. 4. 4. Promoting Promoting Eco-Agriculture Eco-Agriculture and and Sustainable Sustainable Food Food System System In In 2024, 2024, ARCOS ARCOS made made remarkable remarkable progress progress in in advancing advancing eco-agriculture eco-agriculture initiatives, initiatives, equipping equipping communities communities with with tools, tools, resources, resources, and and knowledge knowledge for[for] sustainable sustainable agricultural agricultural practices. practices. A A major major milestone milestone was was the the distribution distribution of of 21,310 21,310 agricultural agricultural tools tools and and the the planting planting of of 3,080,662 3,080,662 trees,[trees,] safeguarding safeguarding an an estimated estimated 105,000,000 105,000,000 tons tons of of soil[soil] from[from] erosion erosion and[and] ensuring ensuring long-term long-term agricultural agricultural viability. viability. To To further further support support sustainable sustainable farming, farming, ARCOS ARCOS distributed[distributed] 1,900 1,900 small small livestock livestock to to enhance enhance soil soil fertility fertility and and trained trained 280,000 280,000 community community members members in[in] land[land] management management and[and] value[value] chain[chain] development. development. Additionally, Additionally, 15,300 15,300 tons tons of of organic organic manure manure and and 1,760 1,760 tons tons of[of] lime[lime] were were provided provided to to improve improve[soil] soil health,[health,] alongside alongside 52,478 52,478 kg kg of of maize maize seeds seeds and and 79,516 79,516 kg kg of of bean bean seeds seeds to to boost boost productivity. productivity. Sustainable Sustainable land land management management efforts efforts included included the the establishment establishment of of terraces, terraces, trenches, trenches, and and small-scale small-scale irrigation irrigation systems. systems. In In line line with with strategic strategic goals, goals, ARCOS ARCOS introduced introduced key key frameworks frameworks such such as as the the Incentive Incentive Strategy Strategy and and the the revised revised Community Community Development Development and[and] Ecological[Ecological] Agriculture[Agriculture] (CDEA) (CDEA) Strategy, Strategy, reinforcing reinforcing long-term long-term sustainability. sustainability. To To support support local local economies, economies, ARCOS ARCOS built built a[a] new new selling[selling] point point in[in] Bugesera, Bugesera, adding[adding] to[to] existing[existing] facilities[facilities] in[in] Rulindo Rulindo and and Rutsiro[Rutsiro] districts.[districts.] Finally, Finally, investments investments in in value value chains chains and and the the establishment establishment of of BEST BEST sites sites positioned positioned ARCOS' ARCOSt landscapes landscapes as as models models for for ecosystem ecosystem and and landscape landscape restoration. restoration. 5. 5. Building Building Resilience Resilience to to Climate Climate Change Change and and Promoting Promoting Green Green Development Development In In 2024, 2024, ARCOS ARCOS made made significant significant progress progress in in strengthening strengthening resilience resilience to to climate climate change change at at national, national, regional, regional, and and global global levels. levels. One One of of the the major major contributions contributions was was the the planting planting of of 3,080,662 3,080,662 trees, trees, which which is is projected projected to to sequester sequester approximately approximately 2.5 2.5 million million tons tons of of CO2 C02 over over the the next next 30[30] years, years, contributing contributing to[to] Rwanda’s Rwanda's climate climate action[action] goals goals and and global[global] mitigation[mitigation] efforts efforts under under the the Paris Paris Agreement. Agreement. At At the the[regional] regional level, level, ARCOS ARCOS collaborated collaborated with with ALINEA ALINEA to to conduct conduct an an assessment assessment of of sustainable sustainable food food systems systems in in the the context context of Of climate climate change change across across East[East] Africa’s Africa's transboundary transboundary mountain mountain landscapes.[landscapes.] This This work work generated generated evidence evidence to to inform inform climate-resilient climate-resilient agriculture agriculture and and food food system system transformation transformation in in the the region. region. ARCOS ARCOS[also] also strengthened strengthened institutional institutional and[and] governance governance resilience resilience by[by] playing playing[a] a key[key] role[role] in[in] the the revitalization revitalization of[of] Uganda’s[Uganda's] Environment Environment and and Natural Natural Resources Resources Network. Network.[This] This included included facilitating facilitating steering steering committee committee meetings meetings and and providing providing technical technical support support for for general general assemblies, assemblies, thereby[thereby] reinforcing[reinforcing] coordinated coordinated climate climate and[and] natural[natural] resource resource governance. governance. At At the the global global level, level, on on the the occasion occasion of of the the COP COP29,[29,] ARCOS ARCOS[advocated] advocated for[for] sustainable sustainable mountain mountain development development and and climate climate change change through through the the presentation presentation and and publication[publication] of of two two[position] position papers. papers. In In addition, addition, ARCOS ARCOS renewed renewed its its membership membership in in the the UNFCCC UNFCCC Nairobi Nairobi Work Work Programme, Programme, ensuring ensuring continued continued participation participation in in a a global global climate climate adaptation adaptation knowledge knowledge platform platform comprising over comprising over 450 450 organizations.[organizations.] Further Further strengthening strengthening climate climate resilience, resilience, ARCOS ARCOS secured[secured] four four new new climate climate adaptation adaptation projects[projects] in[in] 2024,[2024,] bringing[bringing] the the total total number number of of ongoing ongoing climate climate adaptation adaptation initiatives initiatives to[to] ten.[ten.] 6. 6. Supporting Supporting Green Green Development Development Agenda Agenda In In 2024, 2024, ARCOS ARCOS advanced advanced green green development development by by promoting promoting sustainable sustainable livelihoods livelihoods and and nature-based nature-based economic economic opportunities. opportunities. A A key key intervention intervention was was the the donation[donation] of of 517,000 517,000 coffee coffee seedlings seedlings to to support support shaded shaded coffee[coffee] plantations, plantations, which which contribute contribute to to biodiversity biodiversity conservation, conservation, climate-smart climate-smart agriculture, agriculture, and[and] increased increased farmer farmer incomes. incomes. The The 2024 2024 seedling seedling donation donation is is projected projected to to generate generate approximately approximately USD USD 658,658 658,658 in in income income for for local local farmers farmers in in four four years. years, When When combined combined with with 175,000 175,000 coffee coffee seedlings seedlings distributed distributed in in 2023, 2023, the the total total estimated estimated economic economic benefit benefit from from shaded shaded coffee coffee interventions interventions reaches reaches USD USD 881,682, 881,682, demonstrating demonstrating ARCOS' ARCOS’ contribution contribution to to inclusive inclusive green green economic economic growth. growth. Further, Further, capacities capacities of of 6,500 6,500 farmers farmers were were enhanced enhanced in in implementing implementing circular circular economy economy in in tea tea plantation plantation value value chain chain development. development. Also, Also, our our initiatives initiatives generated generated 98,421 98,421 green green jobs jobs in in 2024 2024 alone, alone, elevating elevating the the cumulative cumulative total total to to 115,421 115,421 green green jobs, jobs, further further demonstrating demonstrating our our commitment commitment to to sustainable sustainable livelihoods livelihoods and and environmental environmental stewardship. stewardship.
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ALBERTINE ALBERTINE RIFT[RIFT] CONSERVATION[CONSERVATION] SOCIETY SOCIETY
REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES
FOR FOR THE THE YEAR[YEAR] ENDED[ENDED][ 31] 31 DECEMBER DECEMBER 2024 2024
OBJECTIVES OBJECTIVES[AND] AND ACTIVITIES ACTIVITIES At At the the regional[regional] level, level, ARCOS ARCOS successfully successfully organized organized the the 6 6 session session of of the the Africa Africa Regional Regional Mountains Mountains Forum Forum (ARMF) (ARMF) that that was was held held in in Kigali Kigali on on 10-11 IO—II December December 2024. 2024. The The forum forum brought brought together together key[key] stakeholders stakeholders to to discuss[discuss] innovative innovative solutions[solutions] for[for] safeguarding safeguarding Africa's Africa’s Mountain Mountain ecosystems ecosystems and[and] Sustainable Sustainable Development.[Development.] Additionally, Additionally, the the Scaling[Scaling] Urban[Urban] Nature[Nature] Based Based Solutions Solutions for for Climate Climate Adaptation Adaptation[in] in Sub-Saharan[Sub-Saharan] Africa[Africa] (SUNCASA)[(SUNCASA)] project[project] aligns[aligns] with with the the Green[Green] Development Development Agenda,[Agenda,] aiming aiming to[to] foster[foster] sustainable sustainable and[and] inclusive inclusive urban[urban] growth[growth] by by strengthening strengthening ecosystem ecosystem services, services, conserving conserving biodiversity, biodiversity, and and advancing advancing gender gender equality[equality] in in urban urban communities communities across across[Ethiopia,] Ethiopia, Rwanda,[Rwanda,] and[and] South[South] Africa.[Africa.] Through Through[these] these interventions,[interventions,] ARCOS ARCOS continued[continued] to to align[align] green green development development efforts[efforts] with[with] environmental environmental sustainability, sustainability, climate climate adaptation, adaptation,[and] and improved improved livelihoods, livelihoods, reinforcing[reinforcing][ the] the link[link] between[between] ecosystem[ecosystem] conservation conservation[ and] and economic[economic][ resilience.] resilience.
ARCOS ARCOS[Financial] Financial Review and Review and Funding[Funding] In In 2024, 2024, ARCOS ARCOS strengthened strengthened its its financial financial sustainability sustainability through through key key strategic strategic initiatives. initiatives. The The organization organization developed developed and and
implemented implemented essential essential financial financial policies, policies, including including the the Financial Financial Management Management Policy,[Policy,] Cost[Cost] Recovery[Recovery] Policy,[Policy,] Reserves Reserves Investment Investment Policy, Policy, and and the the Reserve Reserve Management Management Plan[Plan][for] for 2025,[2025,] ensuring ensuring long-term long-term financial financial stability.[stability.]
ARCOS ARCOS[secured] secured a a total total annual annual budget[budget] of of USD[USD] $14,613,549,[$14,613,549,] a a substantial[substantial] increase increase from from USD USD 3,611,586 3,611,586 in[in] 2023, 2023, reflecting reflecting strong strong financial financial growth. growth. By[By] the the end[end] of[of] the the year,[year,] 98%[98%] of[of] the the budget[budget] (USD[(USD] 14,302,226.66) 14,302,226.66) had had been been successfully[successfully] received,[received,] demonstrating demonstrating effective effective financial financial planning, planning, compliance compliance and and donor donor confidence. confidence. These These strategic strategic financial financial measures measures have have positioned positioned ARCOS ARCOS for for continued continued growth growth and and impact impact in[in] 2025 2025 and and beyond. beyond. ARCOS ARCOS had[had] total total income[income] amounting amounting[to] to $14,460,321[$14,460,321] collected[collected] from[from] its[its] various various sources sources of[of] income,[income,] the[the] organization organization[incurred] incurred total[total] expenses expenses projects[projects] implementation[implementation] and[and] operating[operating] expenses expenses amounting amounting to[ to] $9,743,631[$9,][743,631][ with] with a[a][ surplus] surplus of[of] $4,716,690.[$4,716,690.]
ARCOS ARCOS secured[secured] a[a] total total of of $16,148,800[$16,148,800] from[from] donors[donors] which[which] is[is] 88% 88% of[of] annual annual target[target] ($20,000,000).[($20,000,000),] Compared[Compared] to[to] last[last] year year of[of] 2023,[2023,] the[the]
incomes incomes[from] from donors donors have have been been increased increased 4 4 times times from from $3,641,031 $3,641,031 to to $16,148,800 $16,148,800 from from 8 8 donors. donors. That That increase increase is is mainly mainly contributed contributed from[from] the the fund[fund] from[from] new new carbon[carbon] project[project] known known as as MuLakKiLa[MuLaKiLa] project.[project.] A A total total of[of] 25[25] proposals proposals (totalling (totalling $215,682,377)[$215,682,377)]
have have been been developed developed and and submitted submitted to to different different potential[potential] donors, donors, of[of] which, the which, the fund[fund] from[from] 8[8] projects[projects] ($16,148,800)[($16,][ 148,800)] were were secured.[secured.]
The The percentage percentage of of total total expenditure expenditure incurred incurred in[in] the the year year 2024 2024 per per strategic[strategic] programme programme areas areas is[is] distributed[distributed] below;[below;] 2024 2024 Expenditure Expenditure by[by] Strategic Strategic Area[Area] @ • Enhanctng Enhancing Blodtversity Biodiversity Conservation Conservation and and Ecosystem Ecosystem Restoration[Restoration] - 21% 21% • @ Communry[Budding] Community Building Social[Social] Livetihoods[Ltve0h00ds] Capital[Capital][ and] and• 19%[Sustainable] Sustainable Bb 2% 5% 21% @ • PromotingDevelopment[Ptomoting][Education] Education - • 12% 12% for[tot] Sustainable[Sustainable] @ Promoting PromotingEco-Agriculture Eco-Agriculture and[and] Sustainable Sustainable Food Food System System - • 8% Building[Resilience][ to] CUmate[Change][•]
26% 19% 19% . —— ng Resilience to Climate Change 7% 12% & • SupportingSectorAgenda Sectorgenda[SupportingGovernments][to] to- 8% 8%Enhance EnhanceGovernments[Green] Green Development Development and[and] Private[Private] @ Partnership, Partnership. information[Information] management management[and] and Advocacy Advocacy -2% @ Finance Fnar,ce and and Operation Operation cost cost - - 5% Page Page 5[5]
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
REPORT REPORT OF OF THE TRUSTEES THE TRUSTEES FOR FOR THE YEAR THE YEAR ENDED ENDED[ 31] 31 DECEMBER DECEMBER 2024 2024
Financial Financial review review Fundraising Fundraising standards standards information information The The[charity] charity does does not not raise raise significant significant funds funds from from individual individual members members of[of] the the public[public] or or use use a a professional professional fundraiser fundraiser to to raise raise funds funds from from the the public. public. Therefore Therefore has has nothing nothing to to report report under under section section 162A 162A of of the the Charities Charities Act. Act.
Reserves Reserves[policy] policy It It is is ARCOS' ARCOS' policy policy to to commit commit the the maximum maximum amount amount of of resources resources possible possible to to current current programmes programmes in in alignment alignment to to the the organisation's organisation's mission mission[and] and objectives, objectives, and and therefore therefore retain retain only only what what is is necessary necessary to to safeguard safeguard the the continuity continuity of of its its operations. operations. The The board board continues continues to to be[be] satisfied satisfied with with the the efficiency efficiency of of fundraising,[fundraising,] the the level[level] of[of] support[support] costs[costs] and[and] reserves reserves held,[held,] and[and] is[is] confident confident that that these these are are all[all] in[in] line[line] with[with the] the[agreed] agreed[strategic] strategic[ direction.] direction. The The unrestricted unrestricted fund fund[relates] relates mainly mainly to to the the tangible[tangible] fixed[fixed] assets assets of[of] the the organisation organisation and and the the operational operational buildings[buildings] used used in in the the restricted restricted projects. projects. The The Trustees Trustees continue continue to to seek seek unrestricted unrestricted income income to[to] build[build] unrestricted unrestricted reserves. reserves. The The Trustees Trustees can can further further review review their[their] asset asset holdings holdings with with a a view view to to releasing releasing liquid[liquid] funds funds if if necessary. necessary. Cash Cash balances balances are, are, however, however, carefully carefully monitored monitored to to ensure ensure all[all][restricted] restricted projects[projects] can can be[be][completed.] completed. Unrestricted Unrestricted income income will will allow allow the the[board] board to:[to:] - develop, develop,[test] test and[and] demonstrate demonstrate the the effectiveness effectiveness of of new new[approaches] approaches - respond respond quickly quickly to to emergencies, emergencies, before before dedicated dedicated appeal appeal funding funding is[is] secured secured - finance finance our our policy[policy] and[and] campaigns[campaigns] work[work] - meet meet essential[essential] running running costs[costs] that that enable[enable] the the charity[charity to] to function function properly.[properly.]
Going Going concern concern After After making making appropriate appropriate enquiries, enquiries, the the Trustees Trustees have have a a reasonable reasonable expectation expectation that that the the Society Society has has adequate adequate resources resources to to continue continue in[in] operational operational existence[existence] for for a a period period of of at at least least twelve twelve months months from from the the date date of of approval approval of of the the financial financial statements. statements. As As outlined outlined above,[above,] the the Trustees Trustees are are making making efforts efforts in[in] fundraising fundraising to[to] ensure ensure that[that] new new funds[funds] are are available[available] to to support support organizational organizational costs costs and and that that they they can can implement implement projects projects in in line line with with funders funders requirements. requirements. For For this[this] reason, reason, they they continue continue to to adopt adopt the the going going concern concern[basis] basis[in] in preparing preparing the[the] financial[financial] statements. statements.
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ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER 2024 DECEMBER 2024
Principal Principal risks risks and and uncertainties uncertainties
The The Trustees Trustees are are aware aware of of the the risks[risks] facing[facing] ARCOS ARCOS and[and] these[these] are are discussed[discussed] by[by] the the Trustees Trustees on on a a regular[regular] basis.[basis.] The[The] Trustees Trustees have[have] put put in in place place plans plans to to mitigate mitigate those those risks risks as as far[far] as as possible, possible, where where this this is[is] within within control.[control.] The The key[key] risks, risks, the the strategies[strategies] for[for] managing managing them, them, and and factors[factors] likely[likely] to to affect[affect] future future financial financial performance performance are are summarised summarised below. below. 1. I. Strategic Strategic and and Programmatic Programmatic Risks Risks The The[Society's] Society's mission mission to to enhance enhance biodiversity biodiversity and and sustainable sustainable livelihoods[livelihoods] is is delivered delivered through through complex, complex, multi-country multi-country projects projects involving involving numerous numerous partners partners and and community community groups. groups. Key Key risks[risks] include[include] failure failure to to achieve achieve intended intended conservation conservation and and socio-economic socio-economic outcomes, outcomes, over-reliance over-reliance on on a a limited limited number number of of major major donors donors for for funding, funding, and and operational operational disruptions disruptions in in politically politically sensitive sensitive regions. regions. Our Our strategy strategy to to manage manage these these risks risks is is embedded embedded in in our our Risk Risk Management Management and and Fraud Fraud Strategy Strategy which which is is currently currently being being updated updated and[and] operationalised operationalised through through detailed detailed project project planning. planning. We We integrate integrate risk risk assessment assessment into into all all project project designs designs and and agreements agreements we we have[have] with with community community based[based] partners,[partners,] maintain maintain a[a] robust[robust] pipeline[pipeline] of[of] funding[funding] proposals[proposals] to[to] diversify[diversify] our our income[income] base, base, and and conduct conduct regular[regular] security[security] and and stakeholder analyses stakeholder analyses to[to] navigate[navigate] the the operational operational context.[context.] 2. 2. Financial Financial and and Reporting Reporting Risks Risks As As a[a] charity[charity] managing managing significant significant[and] and growing[growing] funds[funds] ($14.46M[($14.46M] income income in in 2024), 2024), we we are are exposed exposed to to risks risks around around the the integrity integrity of of financial financial reporting,[reporting,] the the recognition[recognition] of of grant grant income, income, exchange exchange rate rate fluctuations, fluctuations, and and fraud. fraud. The The external external auditor auditor has has highlighted[highlighted] the the timing timing of of grant[grant] income income recognition[recognition] as as an an area area of[of] focus.[focus.] Our[Our] Internal[Internal] Audit Audit Plans[Plans] directly directly addresses[addresses] this this through[through] quarterly[quarterly] reviews[reviews] of of financial financial closes closes and and transaction transaction testing. testing. We We enforce enforce strict strict internal internal controls, controls, including including segregation segregation of of duties duties and and reconciliation reconciliation procedures. procedures. Our Our zero-tolerance zero-tolerance Anti-Fraud Anti-Fraud Policy[Policy] mandates mandates training, training, clear[clear] reporting reporting channels, channels, and[and] prompt prompt investigation[investigation] of[of] any any irregularities. irregularities. 3. 3. Operational Operational and and Compliance Compliance Risks Risks Our Our expanding[expanding] operations operations require require effective[effective] internal internal controls,[controls,] efficient[efficient] resource resource use, use, and[and] strict strict adherence adherence to to multiple multiple regulatory regulatory frameworks frameworks (UK (UK Charity Charity Law, Law, FRS FRS[102/SORP,] 102/SORP, and and East East African African NGO NGO regulations).[regulations).] Inefficiencies Inefficiencies or or control control failures failures could could lead lead to to wasted wasted resources, resources, delayed delayed projects,[projects,] or or compliance[compliance][breaches.] breaches. To To mitigate mitigate these these[risks,] risks, we we have have a a dedicated dedicated Risk[Risk] Management, Management, Compliance, Compliance, and[and] Internal[Internal] Audit Audit Advisor Advisor who[who][produces] produces Internal[Internal][Audit] Audit[Plans] Plans covering covering quarterly quarterly on-site[on-site] reviews reviews to to test[test] payables,[payables,] cost cost allocations, allocations, asset[asset] management, management,[and] and policy[policy] adherence. adherence. Compliance[Compliance] is[is] monitored[monitored] continuously, continuously, and[and] staff[staff] receive[receive] regular[regular] training[training] on on our our Operational[Operational] Manual[Manual] and[and] donor[donor] requirements. requirements. 4. 4. Reputational Reputational and and External External Risks Risks Our Our reputation, reputation, essential essential for for donor donor trust trust and and community community partnerships, partnerships, could could be be affected affected by by failure failure to to deliver deliver on on public public commitments, commitments, involvement involvement in[in] controversies, controversies, or or external[external] events events like[like] natural natural disasters. disasters. We We manage manage this this risk risk through through transparent transparent reporting reporting in in our our Annual Annual Report Report and and financial financial statements, statements, proactive proactive stakeholder stakeholder communication, communication, and and a a strong[strong] focus focus on on ethical ethical conduct. conduct, Environmental Environmental and and climate climate risks[risks] are are integrated[integrated] into into our our project project planning,[planning,] with with specific specific adaptation adaptation and and disaster[disaster] reduction reduction measures measures[outlined] outlined in[in] our[our] strategic[strategic] programmes. programmes. 5. 5. Factors Factors Likely Likely to to Affect Affect Future Future Financial Financial Performance Performance The The Society's Society's future future financial financial performance performance and and position position may may be be influenced influenced by by several several factors: factors: our our ability ability to to secure secure new new and and diversified diversified funding funding amid[amid] donor donor concentration; concentration; the the impact[impact] of of macroeconomic macroeconomic volatility volatility on on project project costs[costs] and[and] currency currency values;[values;] the the scalability scalability of[of] our our financial financial and[and] operational operational systems[systems] to[to] manage manage growth; growth; and[and] the the potential[potential] cost[cost] implications[implications] of[of] changes[changes] in[in] regulatory regulatory environment. environment. STRUCTURE, STRUCTURE, GOVERNANCE GOVERNANCE AND AND MANAGEMENT MANAGEMENT Structure Structure and and Governance Governance The The charity[charity][is] is controlled[controlled] by by its its governing governing document, document, a a deed deed of[of] trust,[trust,] and and constitutes constitutes a a limited[limited] company, company, limited[limited] by by guarantee, guarantee, as as defined defined by[by] the the Companies Companies Act Act 2006.[2006.]
Page Page 7[7]
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY REPORT REPORT OF[OF] THE THE TRUSTEES TRUSTEES FOR FOR THE YEAR THE YEAR ENDED ENDED[31] 31 DECEMBER 2024 DECEMBER 2024
The The Society Society[is] is a a charitable[charitable] company company which which was was formed formed from from the the Albertine Albertine Rift Rift Conservation Conservation Society Society established[established] in in 1995 1995 and and hosted hosted
by by the the World World Conservation Conservation Monitoring Monitoring Centre Centre (United[(United] Kingdom) Kingdom) and and the the Regional Regional Coordination Coordination Office[Office] by by Nature Nature Uganda Uganda (Uganda). (Uganda).
All All monies monies held[held][in] in bank bank accounts accounts by by this this entity entity were were donated donated to to the the Society Society on on incorporation incorporation (8 (8 November November 2000). 2000). The The Society Society is is governed governed by by its its Memorandum Memorandum and and Articles Articles of of Association Association (revised (revised 19 19 October October 2012). 2012). The The Society Society gained gained charitable charitable status status and and was was registered registered with with the the Charity Charity Commission Commission on on 16 16 February February 2004 2004 (charity number: (charity number: 1102123). 1102123). Board Board of of Directors/Trustees: Directors/Trustees: The The Society Society is[is] managed managed by[by] a a Board Board of[of] Directors.[Directors.] ARCOS ARCOS has[has] currently[currently] seven seven Board Board members members (including (including
a a Chairman, Chairman, Vice Vice[Chairman,] Chairman, Treasurer Treasurer[and] and Secretary)[Secretary)] who who meet meet at[at] least least once once per per year year or or as as needed needed in in an an annual annual general general meeting. meeting. The The Chairman Chairman or or[in] in his his absence absence the the Vice Vice Chairman Chairman chairs chairs the the meeting. meeting. Any Any other other member member elected elected by by members members can can chair chair the the meeting meeting[if] if the the Chairman Chairman and[and] Vice[Vice] Chairman Chairman are are not not present.[present.] The The Board Board recruit[recruit] and and appoint appoint Trustees Trustees who who they they consider consider will will bring bring valuable valuable and[and] practical practical[skills] skills to[to] the the Society.[Society.] All[All] new new trustees[trustees] receive[receive] a[a] full full induction[induction] so so that that they they can can familiarise familiarise themselves[themselves] with with their their
statutory statutory responsibilities, responsibilities, their their role role as as[board] board members, members, the the governance governance framework framework within within ARCOS ARCOS and and the the risk risk environment. environment.
Ongoing Ongoing training[training] is[is] arranged[arranged] as as and[and] when when a a need[need] is[is] identified. identified.
Management Management committee: committee: The The Chairman, Chairman, Vice Vice Chairman, Chairman, Treasurer Treasurer and and Chief Chief Executive Executive Officer Officer shall shall meet meet as as the the Management Management
Committee Committee at at such such intervals intervals as as the the Board Board of[of] Directors Directors thinks[thinks] fit. fit. The The Management Management Committee Committee shall shall review review the the operations operations and and activities activities of[of] the the Soc[Soc] iety iety and[and] report report the the findings[findings] to[to] the the Board[Board] of[of] Directors.[Directors.] Staff Staff positions: positions: The The Board Board of of Directors Directors may may appoint appoint such[such] persons persons as as it it thinks thinks fit fit to to post post including including a a position position with with overall overall responsibility responsibility[for] for operational operational matters matters (whose[(whose] formal formal tide[tide] may may vary vary but but hereafter hereafter known known as as the the Chief Chief Executive Executive Officer), Officer), and and such such other other salaried[salaried] or or voluntary voluntary staff staff posts posts on on such[such] terms terms and[and] conditions,[conditions,] including including remuneration remuneration and and benefits, benefits, and and with with such such duties duties and and responsibilities responsibilities as as the the Board,[Board,] in[in] its[its][entire] entire discretion, discretion, thinks thinks fit.[fit.] The[The] Board[Board] may, may, at[at] any any time, time, vary vary or or alter alter the the terms terms and[and] conditions conditions
and and the the duties[duties] and and responsibilities responsibilities of[of] these these posts posts provided provided always always that that no no Directors Directors shall shall occupy occupy any any of of these these posts. posts. The The Chief Chief Executive Executive Officer Officer shall shall be be the the senior senior member member of of staff staff of of the the Society, Society, and and shall shall have have responsibility responsibility for for co-coordinating co-coordinating the the Society Society activities activities[and] and programmes.[p] rogrammes.
REFERENCE REFERENCE AND AND ADMINISTRATIVE ADMINISTRATIVE DETAILS[DETAILS] Registered Company Registered Company number number 04103967 04103967 (England[(England] and[and][Wales)] Wales)
Registered Registered Charity Charity number number 1102123 1102123 Registered Registered office office C/O C/O Birdlife Birdlife International International The The David David Attenborugh Attenborugh Building[Building] Pembroke Pembroke[Street] Street Cambridge Cambridge Cambridgeshire Cambridgeshire CB2 CB2 3QZ 3QZ
Trustees Trustees The The Trustees Trustees in in office office during during part part or or all[all] of of the the year year ended ended[31] 31 December December 2024 2024 were: were:
Mr Mr John[John] Yonazi[Yonazi][Salehe] Salehe (Chairperson) (Chairperson)
Dr Dr Jane Jane Bemigisha Bemigisha Dr Dr B[B] Nyirambangutse Nyirambangutse (Vice (Vice[Chair)] Chair) Dr Dr Nicholas Nicholas David David King King
Dr Dr Adrie Adrie Mukashema Mukashema Dr Dr Victor Victor Nyarangi Nyarangi Keraro Keraro Dr Dr Chales Chales Kahindo Kahindo
Company Company Secretary Secretary Dr Dr[S] S Kanyamibwa Kanyamibwa
Auditors Auditors Crowe Crowe U.K. U.K. LLP[LLP] 55 55 Ludgate Ludgate Hill Hill London London EC4M EC4M 7JW 7JW
Page Page 8[8]
ALBERTINE ALBERTINE RIFT[RIFT] CONSERVATION[CONSERVATION] SOCIETY[SOCIETY]
REPORT REPORT OF THE OF THE TRUSTEES[TRUSTEES] FOR FOR THE YEAR THE YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
REFERENCE REFERENCE AND AND ADMINISTRATIVE ADMINISTRATIVE DETAILS DETAILS
Bankers Bankers Bank Bank of[of] Kigali[Kigali] KN 4 4 Ave Ave No12 N012 Plot Plot[790] 790 Kigali Kigali Rwanda Rwanda
Barclays Barclays Bank Bank Plc Pic
Barclays Barclays Cambridge Cambridge Cambridge Cambridge
United United Kingdom Kingdom CB2 CB2 3AX 3AX
Statement Statement of[of Trustees'] Trustees’ responsibilities responsibilities
The The Trustees Trustees (who (who are are also[also] the the directors[directors][of] of the the Company Company for[for] the the purposes purposes of of company company law) law) are are responsible responsible for for preparing preparing the the
Trustees' Trustees’ Report Report and and the the financial financial statements statements in[in] accordance accordance with with applicable applicable law law and and United United Kingdom Kingdom Accounting Accounting Standards Standards (United (United Kingdom Kingdom Generally Generally Accepted Accepted Accounting Accounting Practice). Practice).
Company Company law[law] requires[requires] the the Trustees Trustees to to prepare prepare financial financial statements statements for[for][each] each financial financial year. year. Under Under company company law,[law,] the the Trustees[Trustees] must must not not approve approve the the financial financial statements statements unless[unless] they they are are satisfied[satisfied] that that they they give[give] a a true[true] and[and] fair[fair] view view of[of] the the state[state] of[of] affairs[affairs] of of the the Company Company and[and] of[of][its] its[incoming] incoming resources resources and[and] application[application] of[of] resources,[resources,] including including its its income income and and expenditure, expenditure, for for that that period. period. In In
preparing preparing[these] these financial financial statements,[statements,] the the Trustees Trustees are are required[required] to:[to:]
-
select select suitable suitable accounting accounting policies policies and and then then apply apply them them consistency;[consistency;]
-
- observe observe the the methods methods and and principles principles of[of] the the Charities Charities SORP[SORP] (FRS[(FRS] 102) 102) - make make judgments judgments[and] and accountingestimates accounting estimates that that are are reasonable reasonable and[and] prudent: prudent: - state state whether whether applicable[applicable] UK UK Accounting Accounting Standards Standards (FRS[(FRS] 102) 102) have have been been followed,[followed,] subject[subject] to to any any material[material] departures departures disclosed disclosed and and explained explained in in the the financial statements; financial statements;
-
- prepare prepare the the financial financial statements statements on on the the going[going] concern concern basis[basis] unless[unless] it[it] is[is] inappropriate[inappropriate] to[to] presume presume that[that] the[the] Company[Company] will[will] continue continue in[in][business.] business.
The The Trustees Trustees are are responsible[responsible] for for keeping keeping adequate adequate accounting accounting records records that that are are sufficient sufficient to to show show and and explain explain the the Company's Company's
transactions transactions and and disclose disclose with with reasonable reasonable accuracy accuracy at at any any time time the the financial financial position position of of the the Company Company and and enable enable them them to to ensure ensure
that that the the financial financial statements statements comply comply with with the the Companies Companies Act Act 2006. 2006. They They are are also also responsible responsible for for safeguarding safeguarding the the assets assets of of the the Company Company and and hence hence for[for taking] taking reasonable reasonable steps steps for[for] the the prevention prevention and and detection[detection] of fraud[of][fraud] and and other other irregularities. irregularities.
Disclosure Disclosure of of Information information to to auditors auditors
Each Each of[of] the the persons persons who who are are Trustees Trustees at at the the time time when when this[this] Trustees’ Trustees' Report Report is is approved approved has has confirmed confirmed that: that:
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so so[far] far as as that that Trustee Trustee is[is] aware, aware, there[there][ is] is no no relevant[relevant] audit[audit] information information of[of] which[ which] the the charity's[charitvs] auditors auditors are are unaware, unaware, and[and]
-
- that that Trustee Trustee has[has] taken[ taken][ all] all the the steps steps that that ought[ought] to to have[have] been[been] taken[taken] as as a a Trustee Trustee in[in] order order to[to] be[be] aware aware of[of] any any relevant[relevant] audit[audit] information information and[and] to[to] establish[establish] that[that] the the charity's charity's auditors[auditors] are are aware aware of that[of] that information.[information.]
STATEMENT STATEMENT OF[OF] TRUSTEES’[TRUSTEES'] RESPONSIBILITIES[RESPONSIBILITIES]
AUDITORS AUDITORS The The auditors, auditors, Crowe Crowe U.K. U.K. LLP, LLP, will will be be proposed proposed for for re-appointment re-appointment at[at] the the forthcoming forthcoming Annual Annual General General Meeting. Meeting.
Re rt f the stees,[•ncorporating] a strategic report, approved by order[of] the board[of] trustees, as the company directors, on rereei oRf the SLEprustees, incorporating and and signed signed ona on strategic the the board's behalf[board's] report, behalf approved by:[by:] by order of the board of trustees, as the company directors, on => Or Dr VN[V] N Keraro Keraro-T - Trustee stee
Page Page 9 9
Independent Auditor’s Report to the Members of Albertine Rift Conservation Society
Opinion
We have audited the financial statements of Albertine Rift Conservation Society (‘the charitable company’) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company’s affairs as at 31 December 2024 and of the charitable company’s incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit
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the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate and proper accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ directors’ report and from the requirement to prepare a strategic report
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 9, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, including financial reporting legislation and the Charities SORP (FRS 102), and local tax regulations. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be necessary to the charitable company’s ability to operate or to avoid a material penalty. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We also considered the opportunities and incentives that may exist within the charitable company for fraud. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of grant income and management override of controls. Our audit procedures to respond to these risks included sample testing of grant income, review of correspondence with donors, enquiries of management and the Board about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.
In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Simon Hughes Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor
London
9 February 2026
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY
STATEMENT STATEMENT OF OF FINANCIAL FINANCIAL ACTIVITIES ACTIVITIES FOR THE YEAR FOR THE YEAR ENDED[ENDED][ 31] 31 DECEMBER DECEMBER 2024 2024
| 2024 2024 |
2023 2023 |
||||
|---|---|---|---|---|---|
| Un restricted Unrestricted |
Restricted Restricted |
Total Total |
Total Total |
||
| funds funds |
funds funds |
funds funds |
funds funds |
||
| Notes Notes |
$ | $ | $ | $ | |
| INCOME FROM INCOME FROM |
|||||
| Grants and donations Grantsand donations |
2 2 |
- | 14,436,008 | 14,436,008 | 3,547,337 3,547,337 |
| Other income Other income |
3 3 |
24,313 24,313 |
. | 24,313 24,313 |
109,794 109,794 |
| Total Total |
24,313 24,313 |
14,436,008 | 14,460,321 | 3,657,131 3,657,131 |
|
| EXPENDITUREON EXPENDITURE ON |
|||||
| Charitable activities Charitable activities |
4 4 |
||||
| Charitable activities Charitable activities |
593,216 593,216 |
9,150,415 9,150,415 |
9,743,631 9,743,631 |
3,270,228 3,270,228 |
|
| NET INCOME/(EXPENDITURE) NETINCOME/(EXPENDITURE) |
(568,903) (568,903 ) |
5,285,593 5,285,593 |
4,716,690 4,716,690 |
386,903 386,903 |
|
| Transfers between funds Transfers between funds |
17 17 |
1,422,598 1,422,598 |
(1,422,598 ) (1,422,598 ) |
. | - |
| Net movement in funds Net movement in funds |
853,695 853,695 |
3,862,995 3,862,995 |
4,716,690 4,716,690 |
386,903 386,903 |
|
| RECONCILIATION OF FUNDS RECONCILIATION OF FUNDS |
|||||
| Total funds brought forward Total funds broughtforward |
231,792 231,792 |
888,174 888,174 |
1,119,966 1,119,966 |
733,063 733,063 |
|
| TOTALFUNDS CARRIED FORWARD TOTALFUNDSCARRIEDFORWARD |
1,085,487 1,085,487 |
4,751,169 4,751,169 |
5,836,656 5,836,656 |
1,119,966 1,119,966 |
The The notes notes form form part part of[of] these these financial financial statements statements Page Page 13[13]
REGISTERED COMPANY NUMBER: 04103967 (England and Wales) REGISTERED CHARITY NUMBER: 1102123
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY[SOCIETY]
| BALANCE SHEET BALANCESHEET |
|||
|---|---|---|---|
| 31 DECEMBER2024 31 DECEMBER 2024 |
|||
| 2024 2024 |
2023 2023 |
||
| Notes Notes |
$ | $ | |
| FIXED ASSETS FIXED ASSETS |
|||
| Tangible assets Tangible assets |
11 11 |
1,000,203 | 699,294 699,294 |
| CURRENT ASSETS CURRENTASSETS |
|||
| Debtors Cash in hand Debtors Cash in hand |
12 12 |
4,210,731 2,545,299 4,210,731 |
252,720 981,906 252,720 981,906 |
| 6,756,030 6,756,030 |
1,234,626 1,234,626 |
||
| CREDITORS CREDITORS |
|||
| Amounts falling due within one year Amountsfallingduewithin oneyear |
13 13 |
(1,919,577) | (813,954) (813,954) |
| NETCURRENT ASSETS NETCURRENTASSETS |
4,836,453 | 420,672 420,672 |
|
| TOTAL ASSETS LESSCURRENT LIABILITIES TOTALASSETSLESSCURRENT LIABILITIES |
5,836,656 | 1,119,966 1,119,966 |
|
| NET ASSETS NETASSETS |
5,836,656 5,836,656 |
1,119,966 1,119,966 |
|
| FUNDS Unrestricted funds FUNDS Unrestricted funds |
17 17 |
1,085,484 | 231,792 231,792 |
| Restricted funds Restrictedfunds |
4,751,172 4,751,172 |
888,174 888,174 |
|
| TOTALFUNDS TOTALFUNDS |
5,836,656 5,836,656 |
1,119,966 1,119,966 |
|
| The financial statements were approved by the Board of Trustees and authorised The financial statements were approved by the Board of Trustees and authorised |
ogle and for issue on Ealoa{ac2b for IsSUC ONveoh and |
||
| were signed on its behalf by: weresignedonitsbehalfby: |
==> picture [123 x 30] intentionally omitted <==
----- Start of picture text -----
A\ =
Trustee Trustee
----- End of picture text -----
The The notes notes form form part part of[of] these[ these] financial statements statements Page Page 14[14]
ALBERTINE ALBERTINE RIFT[RIFT] CONSERVATION[CONSERVATION] SOCIETY SOCIETY
CASH CASH FLOW FLOW STATEMENT STATEMENT FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
| 2024 2024 |
2023 2023 |
||
|---|---|---|---|
| Notes Notes |
iS | S | |
| Cash flows from operatingactivities Cash flowsfrom operating activities |
|||
| Cash generated from operations Cash generated from operations |
1 i. |
3,665,315 3,665,315 |
948,830 948,830 |
| Finance costs paid Finance costs paid |
(8,604) (8,604) |
(10,171) (10,171) |
|
| Net cash provided by operatingactivities Net cash provided by operatingactivities |
3,656,711 3,656,711 |
938,659 938,659 |
|
| Cash flows from investing activities Cash flowsfrom investing activities |
|||
| Purchase of tangible fixed assets Purchase oftangible fixed assets |
(427,882) (427,882) |
(239,878) (239,878) |
|
| Net cash used in investing activities Net cash used in investing activities |
(427,882 ) (427,882) |
(239,878) (239,878) |
|
| Change in cash and cash equivalents in the Change in cash and cash equivalents inthe |
|||
| reporting period reporting period |
3,228,829 3,228,829 |
698,781 698,781 |
|
| Cash and cash equivalents atthe beginning of Cash and cash equivalents atthe beginning of |
|||
| the reporting period the reporting period |
2 2 |
981,902 981,902 |
283,121 283,121 |
| Cash and cash equivalents atthe end ofthe Cash and cash equivalents attheend ofthe |
|||
| reportingperiod reportingperiod |
2 2 |
4,210,731 4,210,731 |
981,902 981,902 |
The The notes notes form form part part of[of] these these financial financial statements statements Page Page 15[15]
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY
NOTES NOTES TO TO THE THE CASH[CASH] FLOW FLOW STATEMENT STATEMENT FOR FOR THE YEAR THE YEAR ENDED ENDED[31] 31 DECEMBER 2024 DECEMBER 2024
| 1. 1: |
RECONCILIATION OF NETINCOME TO NET CASH FLOW FROM OPERATING RECONCILIATION OF NETINCOME TO NET CASH FLOW FROM OPERATING |
ACTIVITIES ACTIVITIES |
||
|---|---|---|---|---|
| 2024 2024 |
2023 2023 |
|||
| $ | $ | |||
| Net income for the reporting period (as perthe Statement Of Financial Activities) Netincomeforthe reporting period (as per theStatement of Financial Activities) |
4,716,690 4,716,690 |
386,903 386,903 |
||
| Adjustments for: Adjustments for: |
||||
| Depreciation charges Depreciation charges |
126,973 126,973 |
40,939 40,939 |
||
| Finance costs Finance costs |
8,604 8,604 |
10,171 10,171 |
||
| Increase in debtors Increase in debtors |
(2,292,579) | (122,733) (122,733) |
||
| Increase in creditors Increase in creditors |
1,105,627 1,105,627 |
633,550 633,550 |
||
| Net cash provided by operations Netcash provided byoperations |
3,665,315 3,665,315 |
948,830 948,830 |
||
| 2. 2. |
ANALYSIS OF CASH AND CASH EQUIVALENTS ANALYSIS OF CASH ANDCASH EQUIVALENTS |
|||
| 2024 2024 |
2023 2023 |
|||
| $ | $ | |||
| Cash in hand Cash in hand |
4,210,731 4,210,731 |
981,906 981,906 |
||
| Overdrafts included in bank loans and overdrafts falling due within one year Overdrafts included in bank loans and overdrafts falling due within oneyear |
- | (4) (4) |
||
| Total cash and cash equivalents Total cash and cash equivalents |
4,210,731 4,210,731 |
981,902 981,902 |
||
| 3. 3. |
ANALYSIS OF CHANGES IN NETFUNDS ANALYSIS OF CHANGES IN NETFUNDS |
|||
| At 1.1.24 At 1.1.24 |
Cash flow Cash flow |
At 31.12.24 At 31.12.24 |
||
| Net cash Net cash |
$ | =] | =) | |
| Cash at bank and in hand Cash at bank and in hand |
981,906 981,906 |
3,228,825 3,228,825 |
4,210,731 4,210,731 |
|
| Bank overdraft Bank overdraft |
(4) (4) |
4 4 |
- | |
| 981,902 981,902 |
3,228,829 3,228,829 |
4,210,731 4,210,731 |
||
| Total Total |
981,902 981,902 |
3,228,829 3,228,829 |
4,210,731 4,210,731 |
- ANALYSIS ANALYSIS OF OF CHANGES CHANGES IN IN NET NET FUNDS FUNDS
The The notes form notes form part part of of these these financial financial statements statements Page Page 16[16]
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY
NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS STATEMENTS FOR FOR THE YEAR THE YEAR ENDED ENDED[ 31] 31 DECEMBER DECEMBER 2024 2024
- i: ACCOUNTING ACCOUNTING POLICIES[POLICIES] Basis Basis of of preparing preparing the the financial financial statements statements
The The financial financial statements statements have have been been prepared prepared in[in] accordance accordance with with the the Charities Charities SORP SORP (FRS[(FRS] 102) 102) -Accounting -Accounting and and Reporting Reporting
by by Charities: Charities: Statement Statement of[of] Recommended Recommended Practice Practice applicable[applicable] to to charities charities preparing preparing their their accounts accounts in in accordance accordance with with the the Financial Financial Reporting Reporting Standard Standard applicable applicable in[in] the the UK UK and and Republic Republic of[of] Ireland Ireland (FRS[(FRS] 102) 102) (effective (effective[I] 1 January January 2019), 2019), the the Financial Financial Reporting Reporting[Standard] Standard applicable applicable in[in] the the UK[UK] and[and] Republic Republic of[of] Ireland[Ireland] (FRS[(FRS] 102) 102) and[and] the the Companies Companies Act Act 2006.[2006.] Albertine Albertine[Rift] Rift Conservation Conservation Society[Society] meets meets the the definition definition of[of] a[a] public[public] benefit[benefit] entity entity under under FRS FRS 102.[102.] Assets Assets and[and] liabilities liabilities are are initially initially recognised recognised[at] at historical historical cost[cost] or or transaction transaction value[value] unless[unless] otherwise otherwise stated[stated] in[in] the the relevant relevant accounting accounting policy. policy.
The The functional functional currency currency is[is] Rwandan Rwandan Francs Francs and and the the presentational presentational currency currency is is US US Dollars Dollars rounded rounded to to the the nearest nearest dollar. dollar. Going Going concern concern
The The Trustees Trustees have have reviewed reviewed the the financial financial position[position] of[of] the the Society[Society] and and have have a a reasonable reasonable expectation expectation that that the the Society Society has has
adequate adequate resources resources to to continue continue in[in] operational operational existence[existence] for[for] a[a] period[period] of[of] at[at] least[least] twelve twelve months months from from the the date date of[of] approval approval of of the the financial financial statements. statements. As As outlined outlined in[in] the the[Trustees'] Trustees' report, report, the the Trustees Trustees are are making making efforts efforts in in fundraising fundraising to to ensure ensure that that new new funds[funds] are[are] available available to to support support organisational[organisational] costs costs and and that that they they can can implement implement projects projects in in line line with with funders funders requirements. requirements. For[For] this[this] reason, reason, they they continue continue to[to] adopt[adopt] the the going[going] concern concern basis[basis] in[in] preparing preparing the the financial financial statements. statements. Refer Refer
to Trustee to Trustee report[report] for[for] further further reference.[reference.] Income Income Grant Grant income income is[is] recognised recognised once once the the Society Society has has entitlement entitlement to to the the income, income, it it is is probable probable that that the the income income will will be be received received and and the the amount of amount of income income receivable receivable can can be be measured measured reliably.[reliably.] The The balance balance of[of] income income received received[for] for specific specific purposes purposes but but not not expended expended during during the the period period is[is] shown shown in in the the relevant relevant funds funds on on the the[Balance] Balance Sheet.[Sheet.] Where Where income income is[is] received received in[in] advance[advance] of[of] entitlement entitlement of[of] receipt, receipt, its[its] recognition[recognition] is is deferred deferred and and included included in in creditors creditors as as deferred deferred income. income. Where Where entitlement entitlement occurs occurs before before income income is is received, received, the the income income is is accrued. accrued. Donations Donations are are recognised recognised once once the the Society Society has has entitlement entitlement to to the the income, income, it[it] is is probable probable that that it it will will be be received received and and the the
amount amount of[of] receivable receivable can can be[be] measured measured reliably. reliably. Income Income from[from] funds[funds] held[held] on on deposit[deposit] is[is] included[included] when when receivable receivable and[and] the the amount amount can can be[be] measured measured reliably reliably by[by] the the Society; Society; this this is[is] normally normally upon upon notification notification of[of] the the interest[interest paid] paid or or payable payable by[by] the the bank.[bank.] Rental Rental income income[is] is recognised recognised[in] in the the period period to to which which it[it] relates. relates. Expenditure Expenditure Expenditure Expenditure is[is] recognised recognised once once there[there] is[is] a[a] legal[legal] or[or] constructive constructive obligation[obligation] to[to] transfer[transfer] economic economic benefit[benefit] to to a a third third party,[party,] it[it] is is
probable probable that that a a transfer[transfer] of of economic economic benefits benefits will will be be required required in in settlement settlement and and the the amount amount of of the the obligation obligation can can be be measured measured reliably. reliably. Expenditure Expenditure is is classified classified by by activity. activity. The The costs costs of of each each activity activity are are made made up up of of the the total total of of direct direct costs costs and and shared shared costs, costs, including including support support costs costs involved involved in[in] undertaking undertaking each each activity.[activity.] Direct Direct costs costs attributable attributable to to a a single single activity activity are are allocated[allocated] directly directly to to that that activity.[activity.] Shared[Shared] costs[costs] which[which] contribute contribute to[to] more more than[than] one one activity activity and[and] support support costs[costs] which[which] are are
not not attributable[attributable] to to a[a] single single activity activity are are apportioned[apportioned] between between those those activities,[activities,] including including the the cost cost of of certain certain ‘central’ 'central' staff staff salaries, salaries, depreciation depreciation of of fixed[fixed] assets, assets, etc. etc. Restricted Restricted income income typically typically includes includes an an allocation allocation relating relating to to overheads. overheads. Costs Costs relating relating to[to] support[support] for[for] each[each] project[project] are are either[either] charged[charged] directly directly to[to] the the relevant relevant grant,[grant,] or[or] to[to] the the unrestricted[unrestricted] fund[fund] via[via] a a funds[funds] transfer. transfer. Support Support costs[costs] relating relating to[to] finance finance and and operations operations are are allocated[allocated] to[to] projects[projects] based based on on time time spent,[spent,] or or another another equally equally logical logical allocation allocation based based on on an an estimation estimation of of that that project's project's utilisation utilisation of of the the resource, resource, costed. costed. Support Support costs costs are are those those costs costs incurred incurred directly directly in[in] support support of of expenditure expenditure on on the the objects objects of[of] the the Society[Society] and and include include project project management management carried[carried] out out at at Head Head Office Office and and are are allocated allocated to to projects projects based based on on staff staff time.[time.] Governance Governance costs costs are are professional professional and and accountancy accountancy costs costs and and are are included included in in support support costs costs and and allocated allocated accordingly. accordingly.
All All expenditure expenditure is is inclusive inclusive of of irrecoverable irrecoverable VAT. VAT. Grants Grants offered offered subject subject to[to] conditions conditions which[which][have] have not not been[been] met[met] at[at] the the year year end[end] date date are are noted[noted] as as a[a] commitment commitment but[but] not not
accrued accrued as as expenditure. expenditure. Tangible Tangible fixed[fixed] assets assets Tangible Tangible fixed[fixed] assets[assets] costing[costing] $400[$400] or[or] more more are are capitalised capitalised and[and] recognised recognised when when future future economic economic benefits benefits are are probable probable and and the the cost cost or or value value of of the the asset asset can can be be measured measured reliably.[reliably.]
continued... continued...
Page Page 17[17]
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY
NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS[STATEMENTS] - - continued continued FOR FOR THE YEAR THE YEAR ENDED ENDED[31] 31 DECEMBER DECEMBER 2024 2024
-
- ACCOUNTING ACCOUNTING POLICIES POLICIES - - continued continued
Tangible Tangible fixed[fixed] assets assets Tangible Tangible[fixed] fixed assets[assets] are are initially initially recognised recognised at[at] cost. cost. After After recognition, recognition, under under the the cost cost model, model, tangible tangible fixed fixed assets assets are are measured measured at[at] cost[cost] less less accumulated accumulated depreciation depreciation and and any any accumulated accumulated impairment impairment losses. losses. All All costs costs incurred incurred to to bring[bring] a a tangible tangible[fixed] fixed asset[asset][into] into its[its] intended intended working[working] condition condition should[should be] be included included in[in] the the measurement measurementof of cost. cost. Depreciation Depreciation is[is] charged[charged] so so as[as] to[to] allocate[allocate] the the cost cost of[of] tangible[tangible] fixed[fixed] assets assets less[less] their their residual[residual] value value over over their their estimated estimated useful[useful] lives, lives, using using the the straight-line straight-line method. method. Depreciation Depreciation is[is] provided[provided] on on the the following following bases:[bases:] Land Land[-] - Not Not depreciated depreciated BuildingBuilding - 20[20] years years Motor Motor vehicles[vehicles] - - 10 10 years years Office Office equipment equipment - - 3-6 3-6 years years Computer Computer equipment equipment - - 3 3 years years
Taxation Taxation The The charity[charity] is is exempt exempt from from corporation corporation tax tax on on its its charitable[charitable] activities.[activities,]
Fund Fund accounting accounting Unrestricted Unrestricted funds[funds] can can be[be] used[used] in[in] accordance[accordance] with with the the charitable[charitable] objectives[objectives] at[at] the the discretion[discretion] of[of] the the trustees.[trustees.] Restricted Restricted funds funds can can only only be be used used for for particular particular restricted restricted purposes purposes within within the the objects objects of of the the charity. charity. Restrictions Restrictions arise arise when when specified[specified] by[by] the the donor donor or or when when funds[funds] are are raised[raised] for[for] particular particular restricted[restricted] purposes. purposes. Further Further explanation explanation of[of] the the nature[nature and] and purpose purpose of[of] each[each] fund[fund] is[is] included[included][ in] in the the notes[notes][ to] to the the financial financial statements. statements. Financial Financial instruments instruments The The Society Society only only has has financial financial assets assets and and financial financial liabilities liabilities of of a a kind[kind] that that qualify qualify as as basic[basic] financial financial instruments. instruments. Basic Basic financial financial instruments instruments are are initially initially recognised[recognised] at at transaction transaction value value and and subsequently subsequently measured measured at[at] their their settlement settlement value value with with the the exception exception of of bank[bank] loans[loans] which[which] are are subsequently subsequently measured measured at[at] amortised[amortised][ cost] cost using[using] the the effective[effective] interest[interest][ method.] method. Foreign Foreign currencies currencies , Monetary Monetary assets[assets] and[and] liabilities liabilities denominated denominated in[in] foreign[foreign] currencies currencies are are translated translated into[into] dollars dollars at[at] rates[rates] of[of] exchange[exchange] ruling[ruling] at at the the reporting reporting date.[date.] Transactions Transactions in[in] foreign foreign currencies currencies are are translated[translated] into[into] dollars dollars at[at] the the rate[rate] ruling[ruling] on on the the date date of of the the transaction.[transaction.] Exchange Exchange gains gains and and losses[losses] are are recognised recognised in[in] the the Statement Statement of[of] Financial Financial Activities. Activities. Pensions Pensions During During the the year year the the Society Society contributed contributed towards[towards] the the National[National] Social[Social] Security[Security] Fund[Fund] on on behalf[behalf] of[of] its[its] employees.[employees.] Pension[Pension] costs costs reflect reflect amounts amounts payable payable by[by] the the company company to[to] the the fund[fund] in[in] respect respect of of the the employer employer contribution contribution for for that that year. year. These These are are shown shown alongside the alongside the charity's charity's (non-UK)[(non-UK)] social[social] securities,[securities,] medical[medical] and[and] other other costs,[costs,] within within note[note] 9.[9.]
Company Company status[status] The The Society Society is[is] a a company company limited[limited] by[by] guarantee guarantee and and registered[registered] under under the the Companies Companies Act Act with with charitable[charitable] status. status. Status Status was was gained gained on on[16] 16 February February 2004.[2004.] The[The] members members of[of] the[the] Society Society are are the the Trustees[Trustees] named named on on page page 1. 1. In In the the event event of of the the society society being being wound wound up, up, the the liability liability in[in] respect respect of of the the guarantee guarantee is[is] limited[limited] to to £1 El per per member member of[of] the the Society. Society. Debtors Debtors Trade Trade and and other other debtors debtors are are recognised recognised at at the the settlement settlement amount amount after[after] any any trade trade discount discount offered.[offered.] Prepayments Prepayments are are valued valued at[at] the the amount amount prepaid prepaid net[net] of of any any trade[trade] discounts discounts due.[due.]
Cash Cash at at bank bank and and in[in] hand hand
Cash Cash at at bank bank and and in[in] hand hand includes includes cash cash and and short-term short-term highly[highly] liquid liquid investments investments with with a a short short maturity maturity of of three three months months or or less less from from the the date date of of acquisition acquisition or or opening opening of of the the deposit deposit or or similar similar account. account.
Page Page 18[18] continued... continued..
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS STATEMENTS - - continued continued FOR FOR THE THE YEAR YEAR ENDED[ENDED][ 31] 31 DECEMBER DECEMBER 2024 2024
- 75
1; 1. ACCOUNTING ACCOUNTING POLICIES POLICIES - - continued continued
Liabilities Liabilities and[and] provisions provisions
Liabilities Liabilities are are recognised[recognised] when when there there is[is] an an obligation[obligation] at[at] the the Balance[Balance] Sheet[Sheet] date date as as a a result result of[of] a[a] past[past] event,[event,] it it is is probable probable that that a a transfer transfer of of economic economic benefit benefit will will be be required required in[in] settlement, settlement, and and the the amount amount of of the the settlement settlement can can be be estimated estimated reliably.[reliably.] Liabilities Liabilities are are recognised recognised at at the the amount amount that that the the Society Society anticipates anticipates it it will will pay pay to to settle settle the the debt debt or or the the amount amount it it has has received received as as advanced advanced payments payments[for] for the the goods[goods] or[or][services] services it[it] must must provide.[provide.] Provisions Provisions are are measured measured at[at] the the best best estimate estimate of of the the amounts amounts required required to to settle settle the the obligation. obligation. Where Where the the effect effect of of the the time time value value of[of] money money is is material, material, the the provision provision is is based based on on the the present present value value of of those[those] amounts, amounts, discounted discounted at at the the pre-tax pre-tax discount discount rate[rate] that that reflects reflects the the risks[risks] specific specific to[to] the the liability. liability. The[The] unwinding unwinding of[of] the the discount discount is[is] recognised[recognised] in in the the Statement Statement of of Financial Financial Activities Activities as as a a finance finance cost. cost.
GRANTS GRANTS AND AND DONATIONS DONATIONS
| 2. 75 |
GRANTSAND DONATIONS GRANTS ANDAND DONATIONS |
||
|---|---|---|---|
| 2024 2024 |
2023 2023 |
||
| $ | $ | ||
| Income from grants and donations Incomefrom grants and donations |
14,436,008 14,436,008 |
3,547,337 3,547,337 |
|
| 3. 3: |
OTHER INCOME OTHER INCOME |
||
| 2024 2024 |
2023 2023 |
||
| $ | $ | ||
| Rental income Rental income |
- | 3,358 3,358 |
|
| Membership income Membership income |
6,757 6,757 |
3,667 3,667 |
|
| Awards Awards |
17,131 17;131 |
- | |
| Sales of bidding docs Sales ofbiddingdocs |
425 425 |
207 207 |
|
| Foreign exchange gains Foreign exchange gains |
- | 46,745 46,745 |
|
| Other income Other income |
- | 55,817 55,817 |
|
| 24,313 24,313 |
109,794 109,794 |
Page Page[19] 19
continued... continued..
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS STATEMENTS - - continued continued FOR THE FOR THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024 4, 4. EXPENDITURE EXPENDITURE BY[BY] PROJECT PROJECT AND AND STRATEGIC STRATEGIC ANALYSIS ANALYSIS
| Enhancing Biodiversity Conservation and Enhancing Biodiversity Conservationand |
Building Social Capital and Sustainable —_BuildingSocial Capitaland Sustainable |
Building Social Capital and Sustainable —_BuildingSocial Capitaland Sustainable |
promoting Education for Promoting Educationfor |
Promoting Eco- Agriculture and PromotingEco- Agricultureand |
Building Resilience to Building Resilienceto |
Supporting Governments and Private Sector to Enhance Green Supporting Governmentsand PrivateSectorto EnhanceGreen |
Partnership, I'"formation Partnership, Information |
Finance and Financeand |
|||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ecosystem Restoration Ecosystem Restoration |
Community Livelihoods Community Livelihoods |
Sustainable Development Sustainable Development |
Sustainable FoodSystem Sustainable FoodSystem |
Climate Change Development Agenda Climate Development Change Agenda |
management and Advocacy managementand Advocacy |
Operation cost Operation cost |
Total 2024 Total2024 |
Total2023 Total2023 |
|||||
| Eco-Schools Rwanda Livelihoods Global Nature Fund (GNF) Foundation Audemars- Watkins (FAW) Eco-SchoolsRwanda Livelihoods Global Nature Fund(GNF) —Audemars-Watkins |
3.562 160,359 23,478 31,403 $ 3,562 160,359 23,478 31,403 |
5,344 128.287 17.204 5.351 $ 5,344 128,287 17,204 5,351 |
85,496 38.486 5,869 3.140 $ 85,496 38,486 5,869 3,140 |
16,031 96,216 23,478 $ 16,031 96,216 23,478 , |
31.489 133,264 35.217 9.79S $ 31,489 133,264 35,217 9,795 |
7,125 32,072 4.696 1,047 $ 7,125 32,072 4,696 1,047 |
3,562 6,414 1,174 $ 3,562 6,414 1,174 z |
25.509 46,339 6,274 1,602 $ 25,509 46,339 6,274 1,602 |
178,118 641,437 117,390 52,338 190.392 188.743 60.233 $ $ 178,118 190,392 641,437 = 1,349,502 117,390 188,743 52,338 60,233 |
||||
| MountainsADAPT (UNEP) Sustainablegoals development partnership MountainsADAPT (UNEP) Sustaininiepodedevelopment partnership |
- . |
- : |
- . |
. : |
- . |
37,161 - 37,161 |
: . |
315 315 |
37,476 - 37,476 |
37.863 57,108 37,863 57,108 |
|||
| GtZ-WEFE FONERWA Tree planting (AFR/OTP) MULAKILA CCAM Eco schools Uganda(Euro) GIZ-WEFE FONERWA Tree planting{AFR/OTP) MULAKILA CCAM EcoschoolsUganda {Euro} |
22.759 879 727 - - 22,759 1,492,310 879 727 |
22,759 1.243,592 879 1.453 - - 22,759 1,243,592 879 1,453 |
3.414 746,155 21.097 11.837 - - 3,414 746,185 21,097 11,837 |
10.241 360.893 4.835 1.211 = - 10,241 360,893 4.835 1,211 |
48,547 7,431 3.987 = = 48,547 1,501,239 7,431 3,987 |
1,138 621,796 1,758 969 = - 1,138 621,796 1,758 969 |
2276 124,359 440 - = 2,276 124,359 440 484 |
2.660 127,615 6,634 3,554 : : 2,660 127,615 6,634 3,554 |
113,794 43,953 24,222 : : 113,794 6,217,959 43,953 24,222 |
14 12,877 121.179 723.395 20.728 37.942 14 12,877 121,179 723,395 20,728 37,942 |
|||
| Adaptation at Altitude (IJNEP) Adaptation at Altitude(UNEP) |
- | - | - | - | 39.820 39.820 |
18.693 18,693 |
- | 3,796 3,796 |
62,309 62,309 |
10.253 10,253 |
|||
| Geo mountain forum Geomountainforum |
: | : | : | - | - | - | = | - | 9.629 9,629 |
||||
| Comblo Project (IUCN) Bezos Earth Fund Aid Environment (UNHCR) Combio Project (IUCN) BezosEarth Fund Aid Environment (UNHCR) |
97.702 61,892 97,702 61,892 : |
33,002 53,819 33,002 53,819 : |
99.006 40,364 99,006 40,364 : |
19.801 26.909 19,801 26,909 ° |
45.926 40.178 45,926 40,178 . |
32.817 26.909 32,817 26,909 - |
13.455 : 13,455 . |
1,767 5.568 1,767 5,568 ° |
330,021 269,094 330,021 269,094 - |
5.621 73.899 17,291 5,621 73,899 17,291 |
|||
| TSF TSF |
: | . | . | - | : | = | . | ° | - | 1.944 1,944 |
|||
| SUNCASA SUNCASA |
97 ,874 97,874 |
195,747 | 58.724 58,724 |
9,787 9,787 |
587,023 587,023 |
19,575 19,575 |
9,787 9,787 |
218 218 |
978,735 978,735 |
- | |||
| Terraeund DRC Unrestricted Terrafund DRC Unrestricted |
20892 392 20,892 392 |
16.714 120.786 16,714 120,786 |
2.507 35.357 2,507 35,357 |
7.521 158.208 7,521 158,208 |
33.116 2,208 33,116 2,208 |
15,630 836 15,630 |
1,671 30.227 1,671 30,227 |
312 230,410 312 230,410 |
83,569 593,218 83,569 593,218 |
351.608 = 351,608 |
|||
| Total2024 Total2024 |
2,014,229 1,844,937 1,151,452 eland See |
735,131 2,519,240 822,222 735,131 2,519,240 822,222 a ta ba |
193,849 462,573 193,849 462,573 9,743,633 be 1A AdLlib |
||||||||||
| Total2023 Total2023 |
_ | 823.182 823,182 |
482.551 482.551 |
161,317 161,317 |
485,529 —S=485,529 |
650.448 «650,448 |
149.967 149,967 |
162.124 —=S—162,124 |
355,103 —-355,103 |
~_3,270,221 |
continued... continued...
Page Page 20[20]
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS[STATEMENTS] - - continued continued FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
-
- DIRECT DIRECT COSTS COSTS OF[OF] CHARITABLE CHARITABLE ACTIVITIES ACTIVITIES
| Restricted Restricted |
Restricted Restricted |
Unrestricted Unrestricted |
Unrestricted Unrestricted |
Total 2024 Total2024 |
|||
|---|---|---|---|---|---|---|---|
| Audit and accountancy Audit and accountancy |
9,183 9,183 |
93,381 93,381 |
102,564 102,564 |
||||
| Bank charges Bankcharges |
2,393 2,393 |
6,164 6,164 |
8,557 8,557 |
||||
| Depreciation Depreciation |
- | 126,973 126,973 |
126,973 126,973 |
||||
| Foreign exchange Foreign exchange |
20,292 20,292 |
- | 20,292 20,292 |
||||
| Office costs Office costs |
232,164 232,164 |
230,411 230,411 |
462,575 462,575 |
||||
| 264,032 264,032 |
456,929 456,929 |
720,961 720,961 |
|||||
| Restricted Restricted |
Unrestricted Unrestricted |
Total 2023 Total 2023 |
|||||
| Audit and accountancy Auditand accountancy |
19,285 19,285 |
127,346 127,346 |
146,631 146,631 |
||||
| Bank charges Bank charges |
2,824 2,824 |
7,346 7,346 |
10,170 10,170 |
||||
| Depreciation Depreciation |
- | 40,939 40,939 |
40,939 40,939 |
||||
| Office costs Office costs |
115,653 115,653 |
41,710 41,710 |
157,363 157,363 |
||||
| 137,762 137,762 |
217,341 217,341 |
355,103 355,103 |
|||||
| Included in the above costs for auditor'sremuneration are: Included in the above costs for auditor's remuneration are: |
|||||||
| 2024 2024 |
2023 2023 |
||||||
| $ | $ | ||||||
| Fees payableto the Society's auditor in respect of: Fees payable tothe Society's auditor in respect of: |
|||||||
| The audit ofthe Company's annual accounts The audit ofthe Company'sannual accounts |
55,034 55,034 |
67,275 67,275 |
|||||
| All non-audit services not included above All non-audit services not included above |
- | 10,000 10,000 |
|||||
| A further breakdown ofauditfees is as follows: A further breakdown of audit fees is as follows: |
|||||||
| UK auditors remuneration for 2024 audit UK auditors remuneration for 2024 audit |
33,313 33,313: |
||||||
| Rwandan auditors remuneration for2024 audit Rwandan auditors remuneration for 2024audit |
16 446 16,446 |
||||||
| Rwandan auditors remuneration for 2023 audit Rwandan auditors remuneration for 2023 audit |
5,275 5,275 |
||||||
| 55,034 55,034 |
|||||||
| 6. 6. |
GRANTS PAYABLE GRANTS PAYABLE |
||||||
| 2024 2024 |
2023 2023 |
||||||
| $ | 5 | ||||||
| Charitable activities Charitable activities |
81,840 81,840 |
- | |||||
| The total grants paid to institutionsduringtheyearwas as follows: The total grants paid to institutions during the year was as follows: |
|||||||
| 2024 2024 |
2023 2023 |
||||||
| $ | $ | ||||||
| Charitable activities Charitableactivities |
81,840 81,840 |
- |
This This is is a a grant grant to to an an NGO NGO in in the the Democratic Democratic Republic Republic of of Congo Congo partnering partnering in in the the One One Tree Tree Project Project (OTP). (OTP).
continued... continued...
Page Page[21] 21
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS STATEMENTS - - continued continued
FOR FOR THE YEAR THE YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
==> picture [446 x 75] intentionally omitted <==
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|7|7.|NET|NET|INCOME/(EXPENDITURE)|INCOME/(EXPENDITURE)|
|Net|Net|income/(expenditure)|income/(expenditure)|[is]|is|stated|[stated]|[after]|after|charging/(crediting):|[charging/(crediting):]|
|2024|2024|2023|2023|
|$|$|
|Depreciation|Depreciation|-|- owned|owned|assets|assets|126,973|126,973|40,943|40,943|
----- End of picture text -----
-
- TRUSTEES' TRUSTEES' REMUNERATION REMUNERATION AND AND[BENEFITS] BENEFITS
There There were were no no trustees’[trustees'] remuneration remuneration or or other other benefits[benefits][for] for the the year year ended ended 31 31 December December 2024 2024 nor nor for for the the year year ended ended
31 31 December December 2023. 2023.
Trustees' Trustees’ expenses expenses During During the the year year ended[ended] 31 31 December December 2024, 2024, expenses expenses totalling totalling $13,782 $13,782 were were reimbursed reimbursed or or paid paid directly directly on on behalf behalf of of 5 5
Trustees Trustees (2023[(2023] - - $6,045 $6,045 to to 4 4 Trustees), Trustees), in in respect respect of of travel, travel, accommodation accommodation and and sundry sundry refreshment refreshment costs costs in in connection connection with with the the fulfilment[fulfilment] of[of] duties[duties] connected[connected] with with their their trusteeship.[trusteeship.] 9. 9. STAFF STAFF COSTS[COSTS] 2024 2024 2023 2023 $ $
Wages Wages and and salaries salaries 1,690,362 1,690,362 745,249 745,249
Social Social security[security] costs costs 78,413 78,413 44,664 44,664 Other Other pension pension costs costs 134,139 134,139 79,634 79,634 1,902,914 1,902,914 869,547 869,547
The The average average monthly monthly number number of[of] employees employees during during the the year year was was as as follows: follows: 2024 2024 2023 2023 Staff Staff 188 188 119 119 During During the the year year 2024,[2024,] ARCOS ARCOS had[had] 607 607 volunteers volunteers who who supported supported project project implementation implementation activities activities and and administrative administrative
works; works; of of these these volunteers, volunteers, 606 606 were were Rwandan Rwandan and and 1[1] was was international. international. These These volunteers volunteers assisted assisted mostly mostly in in the the MULAKILA MULAKILA project project (604 (604 volunteers volunteers who who supported supported in in land land registration, registration, baseline baseline survey survey and[and] trees trees planting,[planting,] growing growing and and maintenance maintenance monitoring monitoring activities) activities) and[and] the the GNF GNF project[project] had[had] 2 2 volunteers volunteers and and 1 I volunteer volunteer at at organization organization level. level. These These volunteers volunteers have have contributed a contributed[a][lot] lot in[in] farmers farmers mindset mindset change, change, increasing[increasing] numbers numbers of of trees trees planted planted and and enhancing enhancing trees trees planted planted survival survival rate rate during the during the year year 2024. 2024.
No No employee employee received received remuneration remuneration amounting amounting to to more more than than $76,400 $76,400 (£60,000) (E60,000) in in either either year. year. Redundancy Redundancy costs[costs] accrued[accrued] at[at] year year end[end] are are included included of $7,012.[of][$7,012.] The The key key management management personnel personnel of[of] the the Society comprise: Society comprise: Trustees Trustees Chief Chief Executive[Executive] Officer[Officer] Director Director of[of] Finance[Finance] Director Director[of] of Conservation Conservation[Program] Program Director Director of[of] Development,[Development,] Operation[Operation and] and Partnership Partnership
The The total total employment employment benefits benefits including including employer's employer's social social security security and and pension pension contributions contributions of of the the key key management management personnel personnel were were $215,745[$215,745] (2023 (2023 - - $197,347). $197,347).
continued... contin ued...
Page Page 22[22]
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY
.
NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS[STATEMENTS] -[-] continued[continued] FOR FOR THE YEAR THE YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
| 10. 10. |
COMPARATIVESFOR THE STATEMENT COMPARATIVES FORTHESTATEMENTOF |
OF FINANCIAL ACTIVITIES OF FINANCIALACTIVITIES |
FINANCIAL ACTIVITIES ACTIVITIES |
|||
|---|---|---|---|---|---|---|
| Unrestricted funds Unrestricted funds |
Restricted funds Restricted funds |
Total funds Total funds |
||||
| $ | $ | $ | ||||
| INCOME FROM INCOME FROM |
||||||
| Grants and donations Grants and donations |
= | 3,547,337 3,547,337 |
3,547,337 3,547,337 |
|||
| Other income Other income |
109,792 109,792 |
2 2 |
109,794 109,794 |
|||
| Total Total |
109,792 109,792 |
3,547,339 3,547,339 |
3,657,131 3,657,131 |
|||
| EXPENDITURE ON EXPENDITURE ON |
||||||
| Charitable activities Charitable activities |
||||||
| Charitable activities Charitable activities |
351,619 351,619 |
2,918,609 | 3,270,228 3,270,228 |
|||
| NETINCOME/(EXPENDITURE) NETINCOME/(EXPENDITURE) |
(241,827 ) (241,827) |
628,730 628,730 |
386,903 386,903 |
|||
| Transfers between funds Transfers betweenfunds |
139,733 139,733 |
(139,733) (139,733) |
- | |||
| Net movement in funds Netmovement infunds |
(102,094) | 488,997 488,997 |
386,903 386,903 |
|||
| RECONCILIATION OF FUNDS RECONCILIATION OF FUNDS |
||||||
| Total funds brought forward Total funds brought forward |
333,882 333,882 |
399,181 399,181 |
733,063 733,063 |
|||
| TOTALFUNDS CARRIED FORWARD TOTALFUNDS CARRIED FORWARD |
231,788 231,788 |
888,178 888,178 |
1,119,966 1,119,966 |
|||
| 11. pbs |
TANGIBLE FIXEDASSETS TANGIBLE FIXEDASSETS |
|||||
| Fixtures Fixtures |
||||||
| Freehold Freehold |
and and |
Motor Motor |
Computer Computer |
|||
| property property |
fittings fittings |
vehicles vehicles |
equipment equipment |
Totals Totals |
||
| $ | $ | $ | > | $ | ||
| COST COST |
||||||
| At 1 January 2024 At 1January 2024 |
410,722 410,722 |
32,729 32,729 |
340,084 340,084 |
102,474 102,474 |
886,009 886,009 |
|
| Additions Additions |
- | 8,394 8,394 |
338,660 338,660 |
80,828 80,828 |
427,882 427,882 |
|
| At 31 December2024 At 31 December 2024 |
410,722 410,722 |
41,123 41,123 |
678,744 678,744 |
183,302 183,302 |
1,313,891 1,313,891 |
|
| DEPRECIATION DEPRECIATION |
||||||
| At I January 2024 At 1 January 2024 |
17,420 17,420 |
21,005 21,005 |
80,489 80,489 |
67,801 67,801 |
186,715 186,715 |
|
| Charge for year Charge foryear |
4,936 4,936 |
1,025 1,025 |
92,521 92,521 |
28,491 28,491 |
126,973 126,973 |
|
| At 31 December2024 At 31 December 2024 |
22,356 22,356 |
22,030 22,030 |
173,010 173,010 |
96,292 96,292 |
313,688 313,688 |
|
| NET BOOK VALUE NET BOOKVALUE |
||||||
| At 31 December2024 At 31 December 2024 |
388,366 388,366 |
19,093 19,093 |
505,734 505,734 |
87,010 87,010 |
1,000,203 | |
| At 31 December2023 At31December2023 |
393,302 393,302 |
11,724 11,724 |
259,595 259,595 |
34,673 34,673 |
699,294 699,294 |
The The cost of cost of land[land] was was approximately approximately $276,722 $276,722 (2023 (2023 - - $276,722). $276,722).
Page Page 23[23]
continued... continued...
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION CONSERVATION SOCIETY SOCIETY
NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS STATEMENTS - - continued continued FOR FOR THE YEAR THE YEAR ENDED[ENDED][ 31] 31 DECEMBER DECEMBER 2024 2024 12. 12. DEBTORS: DEBTORS: AMOUNTS AMOUNTS FALLING[FALLING] DUE DUE WITHIN WITHIN ONE ONE YEAR YEAR
| 12. 12. |
DEBTORS: AMOUNTS [FALLING] DUEWITHIN ONEYEAR DEBTORS:AMOUNTS FALLING DUEWITHINONEYEAR |
YEAR YEAR |
||||||
|---|---|---|---|---|---|---|---|---|
| 2024 2024 |
2023 2023 |
|||||||
| $ | $ | |||||||
| Other debtors Otherdebtors |
516,402 516,402 |
25,565 25,565 |
||||||
| Prepayments and accrued income Prepayments and accrued income |
2,028,897 2,028,897 |
227,155 227,155 |
||||||
| 2,545,299 2,545,299 |
252,720 252,720 |
|||||||
| 13. 13; |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|||||||
| 2024 2024 |
2023 2023 |
|||||||
| $ | $ | |||||||
| Bank loans and overdrafts (see note 14) Bank loansand overdrafts (see note 14) |
Es | 4 4 |
||||||
| Social security and othertaxes Social security and other taxes |
97,575 97,575 |
48,949 48,949 |
||||||
| Other creditors Other creditors |
1,347,208 1,347,208 |
186,520 186,520 |
||||||
| Accruals and deferred income Accruals and deferred income |
474,794 474,794 |
578,481 578,481 |
||||||
| 1,919,577 1,919,577 |
813,954 813,954 |
|||||||
| Deferred income relates to income received for Deferred income relates to income received for |
the Bezos Earth Fund project that the Bezos Earth Fund project that |
must be used within must be used within |
the next financial the next financial |
|||||
| year (2025). In 2023 this related to the Foundation Audemars-Watkins year (2025). In 2023 this related to the Foundation Audemars-Watkins |
(FAW), (FAW), |
International Union for Conservation International Union for Conservation |
of of |
|||||
| Nature and Natural Resources (IUCN) and Bezos Earth Fund project. Nature and Natural Resources (IUCN) and Bezos Earth Fund project. |
||||||||
| 2024 2024 |
2023 2023 |
|||||||
| $ | 5 | |||||||
| Deferredincome at I January 2024 Deferred income at 1January 2024 |
578,481 578,481 |
56,408 56,408 |
||||||
| Resources deferredduringtheyear Resources deferred during the year |
399,990 399,990 |
578,481 578,481 |
||||||
| Amounts released from previousperiods Amounts released from previous periods |
(578,481 ) (578,481) |
(56,408) (56,408) |
||||||
| Deferredincome at 31 December2024 Deferred income at 31 December 2024 |
399,990 399,990 |
578,481 578,481 |
||||||
| 14. 14. |
LOANS LOANS |
|||||||
| An analysis of the maturity of loans is given below: An analysis ofthe maturity of loans isgiven below: |
||||||||
| 2024 2024 |
2023 2023 |
|||||||
| $ | $ | |||||||
| Amountsfallingdue within one year on demand: Amounts fallingdue within one year on demand: |
||||||||
| Bank overdrafts Bank overdrafts |
: | 4 a |
||||||
| 15. 15; |
LEASING AGREEMENTS LEASING AGREEMENTS |
|||||||
| At December the Society had commitments to make future minimum At December the Society had commitments to make future minimum |
lease lease |
payments in respect payments in respect |
of offices under of offices under |
|||||
| non-cancellable operating leases as follows: non-cancellable operating leases as follows: |
||||||||
| 2024 2024 |
2023 2023 |
|||||||
| $ | $ | |||||||
| No later than 1 year No laterthan 1 year |
2,386 2,386 |
820 820 |
||||||
| The following lease payments have been recognisedas an expense in the Statement Thefollowing lease payments have been recognised as an expense in the Statement |
of Financial Activities: of Financial Activities: |
|||||||
| 2024 2024 |
2023 2023 |
|||||||
| $ | $ | |||||||
| Operating lease rentals Operatingleaserentals |
7,707 7,707 |
5,712 5,712 |
Deferred Deferred income income relates relates to to income income received received for for the the Bezos Bezos Earth Earth Fund Fund project project that that must must be be used used within within the the next next financial financial year year (2025).[(2025).] In In 2023 2023 this this related related to to the the Foundation Foundation Audemars-Watkins Audemars-Watkins (FAW), (FAW), International International Union Union for for Conservation Conservation of of Nature Nature and and Natural[Natural] Resources Resources (IUCN)[(IUCN)] and and Bezos Bezos Earth Earth Fund Fund project. project.
15; 15. LEASING LEASING AGREEMENTS AGREEMENTS
Page Page 24[24]
continued... continued..
ALBERTINE ALBERTINE RIFT[RIFT] CONSERVATION[CONSERVATION] SOCIETY SOCIETY NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS[STATEMENTS] - - continued continued FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
16. 16. ANALYSIS ANALYSIS OF OF NET NET ASSETS ASSETS BETWEEN FUNDS BETWEEN FUNDS
| 16. 16. |
ANALYSIS OF NETASSETS BETWEEN FUNDS ANALYSIS OF NETASSETS BETWEEN FUNDS |
||||||
|---|---|---|---|---|---|---|---|
| 2024 2024 |
2023 2023 |
||||||
| Unrestricted Unrestricted |
Restricted Restricted |
Total Total |
Total Total |
||||
| funds funds |
funds funds |
funds funds |
funds funds |
||||
| $ | 5 | S | $ | ||||
| Fixed assets Fixed assets |
411,922 411,922 |
588,281 588,281 |
1,000,203 | 699,294 699,294 |
|||
| Current assets Current assets |
1,010,619 | 5,745,411 5,745,411 |
6,756,030 6,756,030 |
1,234,626 1,234,626 |
|||
| Current liabilities Current liabilities |
(337,057) (337,057) |
(1,582,520) (1,582,520) |
(1,919,577 ) (1,919,577) |
(813,954) (813,954) |
|||
| 1,085,484 1,085,484 |
4,751,172 4,751,172 |
5,836,656 5,836,656 |
1,119,966 1,119,966 |
||||
| ANALYSIS OF NETASSETS BETWEEN FUNDS ANALYSIS OF NETASSETS BETWEEN FUNDS |
- PRIORYEAR (2023) - PRIOR YEAR (2023) |
||||||
| Restricted Restricted |
Unrestricted Unrestricted |
||||||
| funds funds |
funds funds |
Total funds Total funds |
|||||
| Tangible fixed assets Tangiblefixed assets |
321,492 321,492 |
377,802 377,802 |
699,294 699,294 |
||||
| Current assets Current assets |
1,167,985 1,167,985 |
66,641 66,641 |
1,234,626 1,234,626 |
||||
| Creditors due within one year Creditors due within one year |
(601,303) (601,303) |
(212,651) (212,651) |
(813,954) (813,954) |
||||
| 888,174 888,174 |
231,792 231,792 |
1,119,966 1,119,966 |
|||||
| 17. L7. |
MOVEMENT IN FUNDS MOVEMENT IN FUNDS |
||||||
| Net Net |
Transfers Transfers |
||||||
| movement movement |
between between |
At At |
|||||
| At 1.1.24 At 1.1.24 |
in funds in funds |
funds funds |
31.12.24 31.12.24 |
||||
| 5 | $ | $ | $ | ||||
| Unrestricted funds Unrestricted funds |
|||||||
| General fund General fund |
229,202 229,202 |
(567 ,818 ) (567,818) |
1,422,598 1,422,598 |
1,083,982 1,083,982 |
|||
| Membership Membership |
2,590 2,590 |
(1,088) (1,088) |
- | 1,502 1,502 |
|||
| 231,792 231,792 |
(568,906) (568,906) |
1,422,598 1,422,598 |
1,085,484 1,085,484 |
||||
| Restrictedfunds Restricted funds |
|||||||
| Eco-Schools Rwanda Eco-Schools Rwanda |
20,121 20124: |
(29,104) (29,104) |
(807) (807) |
(9,790) (9,790) |
|||
| Livelihoods Livelihoods |
161,218 161,218 |
(79,786) (79,786) |
(3,063 ) (3,063) |
78,369 78,369 |
|||
| Global Nature Fund (GNF) Global Nature Fund (GNF) |
65,459 65,459 |
22 22 |
. | 65,481 65,481 |
|||
| FoundationAudemars-Watkins Foundation Audemars-Watkins |
74,990 74,990 |
38,270 38,270 |
(4,596) (4,596) |
108,664 108,664 |
|||
| Mountains ADAPT (UNEP) MountainsADAPT(UNEP) |
20,884 20,884 |
- | (20,884) (20,884) |
- | |||
| Sustainable goals development partnership Sustainable goals development partnership |
, | ||||||
| (SDGP) (SDGP) |
48,130 48,130 |
96,840 96,840 |
- | 144,970 144,970 |
|||
| Treeplanting (AFR/OTP) MULAKILA Tree planting(AFR/OTP) MULAKILA |
26,561 293,583 26,561 293,583 |
(43,159) 4,392,662 (43,159) 4,392,662 |
(993,396) : (993,396) |
(16,598) 3,692,849 (16,598) 3,692,849 |
|||
| CCAM CCAM |
9,663 9,663 |
34,205 34,205 |
- | 43,868 43,868 |
|||
| Eco-schools Uganda Eco-schools Uganda |
35,885 35,885 |
(24,223) (24,223) |
(441) (441) |
11,221 T1225 |
|||
| Adaptation at Altitude (UNEP) Adaptation atAltitude (UNEP) |
14,747 14,747 |
37,121 37,421 |
(2,268) (2,268 ) |
49,600 49,600 |
|||
| Geomountainforum Geo mountain forum |
11,755 11,755 |
- | - | 11,755 11,755 |
|||
| Combio Project (IUCN) Combio Project(IUCN) |
29,395 29,395 |
(4,854) (4,854) |
(48,943 ) (48,943) |
(24,402) (24,402) |
|||
| Bezos Earth Fund Bezos Earth Fund |
75,690 75,690 |
381,260 381,260 |
(266,719) (266,719 ) |
190,231 190,231 |
|||
| Aid Environment (UNHCR) Aid Environment (UNHCR) |
(9,463) (9,463) |
22,635 22,635 |
- | 13,172 13,172 |
|||
| TSF TSF |
(1,944) (1,944) |
- | 1,944 1,944 |
- | |||
| Terra Fund Terra Fund |
= | 26,415 26,415 |
- | 26,415 26,415 |
|||
| SUNCASA SUNCASA |
~ | 437,292 437,292 |
(71,925 ) (71,925) |
365,367 365,367 |
|||
| NFF_RSF NFF-RSF |
11,500 11,500 |
- | (11,500) (11,500) |
- | |||
| 888,174 888,174 |
5,285,596 5,285,596 |
(1,422,598) | 4,751,172 4,751,172 |
||||
| TOTALFUNDS TOTALFUNDS |
1,119,966 1,119,966 |
4,716,690 | - | 5,836,656 5,836,656 |
|||
| Page 25 Page25 |
continued... continued... |
ALBERTINE ALBERTINE RIFT RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
NOTES NOTES TO TO THE THE FINANCIAL STATEMENTS FINANCIAL STATEMENTS - - continued continued FOR FOR THE THE YEAR YEAR ENDED ENDED[ 31] 31 DECEMBER DECEMBER 2024 2024
- MOVEMENT MOVEMENT IN[IN] FUNDS FUNDS[-] - continued[continued]
Net Net movement movement in[in] funds, funds, included included in[in] the the above above are are as as follows:[follows:]
==> picture [423 x 301] intentionally omitted <==
----- Start of picture text -----
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Incoming|Resources|Resources|Movement|Movement|
|resources|resources|expended|expended|in|in|funds|funds|
|$|5|S|
|Unrestricted|Unrestricted|funds|[funds]|
|General|General|fund|[fund]|17,556|17,556|(585,374)|(585,374)|(567,818|(567,818)|)|
|Membership|Membership|6,757|6,757|(7,845)|(7|,845)|(1,088|(1,088)|)|
|24,313|24,313|(593,219)|(593,219|[)]|(568,906|(568,906|)|[)]|
|Restricted|Restricted funds|funds|
|Eco-Schools|Eco-Schools|Rwanda|Rwanda|149,013|149,013|(178,117)|(178,117)|(29,104)|(29,104)|
|Livelihoods|Livelihoods|561,650|561,650|(641,436|(641,436|)|[)]|(79,786)|(79,786)|
|Global|Global|Nature|Nature|Fund|Fund|(GNF)|(GNF)|117,410|117,410|(117,388|(117,388)|)|22|22|
|Foundation|Foundation|Audemars-Watkins|Audemars-Watkins|90,609|90,609|(52,339)|(52,339|[)]|38,270|38,270|
|Sustainable|Sustainable|goals|[goals]|development|development|partnership|partnership|
|(SDGP)|(SDGP)|134,316|134,316|(37,476)|(37,476)|96,840|96,840|
|Tree|Tree|planting|planting (AFR/OTP)|[(AFR/OTP)]|70,635|70,635|(113,794)|(113,794)|(43,159)|(43,159)|
|MULAKILA|MULAKILA|10,610,622|10,610,622|(6,217,960)|(6,217,960)|4,392,662|4,392,662|
|CCAM|CCAM|78,157|78,157|(43,952)|(43,952|[)]|34,205|34,205|
|Eco-schools|Eco-schools|Uganda|Uganda|-|(24,223)|(24,223|[)]|(24,223)|(24,223)|
|Adaptation|Adaptation|at|[at]|Altitude|[Altitude]|(UNEP)|[(UNEP)]|99,429|99,429|(62,308)|(62,308|[)]|37,121|37,121|
|Combio|Combio|Project|[Project]|(IUCN)|[(IUCN)]|325,166|325,166|(330,020)|(330,020)|(4,854)|(4,854)|
|Bezos|Bezos|Earth|Earth|Fund|[Fund]|650,354|650,354|(269,094|(269,094|)|[)]|381,260|381,260|
|Aid|Aid|Environment|Environment|(UNHCR)|(UNHCR)|22,635|22,635|-|22,635|22,635|
|Terra|Terra|Fund|[Fund]|109,985|109,985|(83,570)|(83,570)|26,415|26,415|
|SUNCASA|SUNCASA|1,416,027|1,416,027|(978,735)|(978,735)|437,292|437,292|
|14,436,008|(9,150,412)|5,285,596|5,285,596|
|TOTAL|TOTAL FUNDS|FUNDS|14,460,321|14,460,321|(9,743,631)|(9,743,631)|4,716,690|4,716,690|
----- End of picture text -----
continued... continued...
Page Page 26[26]
ALBERTINE ALBERTINE RIFT[RIFT] CONSERVATION[CONSERVATION] SOCIETY SOCIETY
NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS STATEMENTS - - continued continued FOR FOR THE YEAR THE YEAR ENDED[ENDED][ 31] 31 DECEMBER DECEMBER 2024 2024
- MOVEMENT MOVEMENT IN[IN] FUNDS FUNDS - - continued continued
Comparatives Comparatives for for movement movement in[in] funds funds
==> picture [422 x 364] intentionally omitted <==
----- Start of picture text -----
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|Net|Transfers|Transfers|
|movement|movement|between|between|At|At|
|At|At|1.1.23|[1.1.23]|in|in|funds|funds|funds|funds|31.12.23|31.12.23|
|$|$|$|$|
|Unrestricted|Unrestricted|funds|[funds]|
|General|General|fund|[fund]|333,882|333,882|(244,413)|(244,413)|139,733|139,733|229,202|229,202|
|Membership|Membership|-|2,590|2,590|-|2,590|2,590|
|333,882|333,882|(241,823)|(241,823)|139,733|139,733|231,792|231,792|
|Restricted|Restricted funds|funds|
|Sainsbury's|Sainsbury's|.|17113|11,113|(11,113)|(11,113)|-|
|Eco-Schools|Eco-Schools|Rwanda|Rwanda|54,864|54,864|(34,743)|(34,743)|-|20,121|20,121|
|Livelihoods|Livelihoods|158,433|158,433|2,785|2,785|-|161,218|161,218|
|Global|Global|Nature|Nature|Fund|Fund|(GNF)|(GNF)|22,560|22,560|42,899|42,899|-|65,459|65,459|
|Foundation|Foundation|Audemars-Watkins|Audemars-Watkins|57,691|57,691|17,299|17,299|-|74,990|74,990|
|Mountains|Mountains|ADAPT|ADAPT|(UNEP)|[(UNEP)]|23,497|23,497|(2,613)|(2,613)|-|20,884|20,884|
|Sustainable|Sustainable|goals|[goals]|development|development|partnership|partnership|
|(SDGP)|(SDGP)|38,592|38,592|9,538|9,538|-|48,130|48,130|
|GIZ-WEFE|GIZ-WEFE|(53,592)|(53,592)|87,203|87,203|(33,611)|(33,611)|-|
|FONERWA-CAF|FONERWA-CAF|47,886|47,886|47,123|47,123|(95,009)|(95,009|[)]|-|
|Tree|Tree|planting|planting (AFR/OTP)|[(AFR/OTP)]|37,750|37,750|(11,189)|(11,189)|-|26,561|26,561|
|MULAKILA|MULAKILA|-|293,583|293,583|-|293,583|293,583|
|CCAM|CCAM|-|9,663|9,663|-|9,663|9,663|
|Eco-schools|Eco-schools|Uganda|Uganda|-|35,885|35,885|-|35,885|35,885|
|Adaptation|Adaptation|[at]|at|Altitude|Altitude|(UNEP)|[(UNEP)]|-|14,747|14,747|-|14,747|14,747|
|Geo|Geo mountain|mountain|forum|forum|-|11,755|11,755|-|11,755|11,755|
|Combio|Combio|Project|[Project]|(IUCN)|[(IUCN)]|-|29,395|29,395|-|29,395|29,395|
|Bezos|Bezos|Earth|Earth|Fund|Fund|-|75,690|75,690|-|75,690|75,690|
|Aid|Aid|Environment|Environment|(UNHCR)|(UNHCR)|-|(9,463)|(9,463|[)]|-|(9,463)|(9,463)|
|TSF|TSF|-|(1,944)|(1,944)|-|(1,944)|(1,944)|
|NFF-RSF|NFF_RSF|11,500|11,500|-|-|11,500|11,500|
|399,181|399,181|628,726|628,726|(139,733)|(139,733|[)]|888,174|888,174|
|TOTAL|TOTAL|FUNDS|FUNDS|733,063|733,063|386,903|386,903|-|1,119,966|1,119,966|
----- End of picture text -----
Page Page 27[27]
continued... continued...
ALBERTINE RIFT ALBERTINE RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS STATEMENTS - - continued continued FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
-
- MOVEMENT MOVEMENT IN[IN] FUNDS FUNDS - - continued continued
Comparative Comparative net[net] movement movement in[in] funds,[funds,] included[included] in[in] the the above[above] are are as[as] follows:[follows:]
==> picture [423 x 344] intentionally omitted <==
----- Start of picture text -----
|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Incom|ing|Resources|Resources|Movement|Movement|
|resources|resou|[rces]|expended|expended|in|in|funds|funds|
|5|$|$|
|Unrestricted|Unrestricted|funds|funds|
|General|General|fund|[fund]|106,125|106,125|(350,538|(350,538)|)|(244,413)|(244,413)|
|Membership|Membership|3,667|3,667|(1,077)|(1,077)|2,590|2,590|
|109,792|109,792|(351,615)|(351,615|[)]|(241,823)|(241,823|[)]|
|Restricted|Restricted|funds|funds|
|Sainsbury's|Sainsbury's|11,413|11,113|-|11,113|11,113|
|Eco-Schools|Eco-Schools|Rwanda|Rwanda|155,649|155,649|(190,392)|(190,392|[)]|(34,743)|(34,743)|
|Livelihoods|Livelihoods|1,352,287|1,352,287|(1,349,502)|2,785|2,785|
|Global|Global|Nature|Nature|Fund|Fund|(GNF)|[(GNF)]|231,642|231,642|(188,743)|(188,743)|42,899|42,899|
|Foundation|Foundation Audemars-Watkins|Audemars-Watkins|77,532|77,532|(60,233)|(60,233|[)]|17,299|17,299|
|Mountains|Mountains ADAPT|ADAPT|[(UNEP)]|(UNEP)|35,250|35,250|(37,863)|(37 ,863)|(2,613)|(2,613)|
|Sustainable|Sustainable|goals|[goals]|development|development|partnership|partnership|
|(SDGP)|(SDGP)|66,646|66,646|(57,108)|(57 ,108)|9,538|9,538|
|GIZ-WEFE|GIZ-WEFE|87,217|87,217|(14)|(14)|87,203|87,203|
|FONERWA-CAF|FONERWA-CAF|60,000|60,000|(12,877)|(12,877)|47,123|47,123|
|Tree|Tree planting|planting|(AFR/OTP)|[(AFR/OTP)]|109,990|109,990|(121,179)|(121,179)|(11,189)|(11,189)|
|MULAKILA|MULAKILA|1,016,978|1,016,978|(723,395)|(723,395)|293,583|293,583|
|CCAM|CCAM|30,391|30,391|(20,728)|(20,728)|9,663|9,663|
|Eco-schools|Eco-schools|Uganda|Uganda|73,827|73,827|(37,942)|(37,942)|35,885|35,885|
|Adaptation|Adaptation|at|[at Altitude]|Altitude|[(UNEP)]|(UNEP)|25,000|25,000|(10,253)|(10,253)|14,747|14,747|
|Geo|Geo|mountain|mountain|forum|forum|21,384|21,384|(9,629)|(9,629)|11,755|11,755|
|Combio|Combio|Project|[Project]|(IUCN)|[(IUCN)]|35,016|35,016|(5,621)|(5,621)|29,395|29,395|
|Bezos|Bezos|Earth|Earth|Fund|Fund|149,589|149,589|(73,899)|(73,899|[)]|75,690|75,690|
|Aid|Aid|Environment|Environment|(UNHCR)|(UNHCR)|7,828|7,828|(17,291)|(17,291)|(9,463|(9,463|)|[)]|
|TSF|TSF|-|(1,944)|(1,944)|(1,944)|(1,944)|
|3,547,339|3,547,339|(2,918,613)|628,726|628,726|
|TOTAL|TOTAL|FUNDS|FUNDS|3,657,131|3,657,131|(3,270,228)|386,903|386,903|
----- End of picture text -----
Current Current year year transfers transfers Transfers Transfers between between funds[funds][for] for Mountains Mountains ADAPT, ADAPT, TSF[TSF] and[and] NFF-RSF NFF-RSF in[in] the the current current year year occured[occured] as as the the projects[projects] had[had] ended[ended] and and the the amount amount remaining remaining was was transferred transferred to[to] the the general general fund[fund] (the[(the] projects[projects] had had no no clause clause on on returning returning unspent unspent funds).[funds).] Transfers Transfers between between the the other other restricted[restricted] funds funds to to the the general general fund fund relate[relate] to to agreed agreed indirect indirect cost cost recovery recovery transfers transfers to to cover cover agreed agreed project management project management fees, fees, rent rent recharges recharges and and other other non non project project staff staff costs costs time time spent spent on on projects. projects. Current Current year funds year[funds] Eco-Schools Eco-Schools - Part Part of of the the Danish Danish Outdoor Outdoor Council's Council's programme programme promoting promoting the the right right to to quality quality education education through through Eco-Schools Eco-Schools in in Africa, Africa. Livelihoods Livelihoods - - This This is is a a project project focusing focusing on on fighting fighting climate climate change change and and its its effects[effects] through through the the reduction reduction of of greenhouse greenhouse emissions emissions[and/or] and/or the the increase increase of[of] greenhouse greenhouse gas gas sequestration. sequestration. The[The] project[project] also[also] endeavours endeavours to[to] reduce[reduce] poverty,[poverty,] promote promote gender gender equality equality and and inclusion[inclusion] of of youth. youth. The The deficit deficit on on this this project project will will be be cleared cleared as as funding funding is[is] received received in in arrears. arrears. Global Global Nature Nature Fund Fund (GNF) (GNF) - - This This fund fund was was originally originally money money from from the the Global Global Biodiversity Biodiversity Information Information Facility Facility for for workshops. workshops. Funding Funding[is] is now now being being received received from from the the Global Global Nature Nature Fund Fund to to develop develop a a full full proposal. proposal. Foundation Foundation Audemars-Watkins Audemars-Watkins (FAW)(FAW)This[This] is[is] a a project[project] in[in] support support of[of] the the Nyagasenyi Nyagasenyi Remnant Remnant Forest Forest landscape landscape restoration restoration for for improved improved livelihoods livelihoods and and resilience resilience to to climate climate change. change.
Sustainable Sustainable Development Development Goals[Goals] Partnership Partnership[(SDGP)] (SDGP) is is a a Agroforestry Agroforestry interventions interventions project project for for uphill uphill food, food, income income security security and and tea[tea] plantation[plantation] protection.[protection.]
continued... continued...
Page Page 28[28]
ALBERTINE ALBERTINE RIFT[RIFT] CONSERVATION[CONSERVATION] SOCIETY SOCIETY NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS[STATEMENTS] - - continued continued FOR FOR THE THE YEAR YEAR ENDED ENDED 31[31] DECEMBER DECEMBER 2024 2024
i7. 17. MOVEMENT MOVEMENT IN[IN] FUNDS FUNDS - - continued continued
FONERWA FONERWA (CAF)[(CAF)] - - Funding Funding for for the the technical technical assistance assistance of of the the implementation implementation of Of community community adaptation adaptation facility[facility] (CAF) (CAF) in in Gicumbi Gicumbi district district[for] for[NDC] NDC deep[ deep][Dive] Dive[project.] project. Tree Tree planting planting (AFR/OTP)[(AFR/OTP)] - - ARCOS ARCOS is is working working in in collaboration collaboration with with AFR100 AFRIOO Terramatch Terramatch and and One One Tree Tree Planted Planted to to plant plant trees. trees. As As part part of[of] their their AFRIOO AFR100 initiative,[initiative,] this this project project aims aims to to upscale upscale the the restoration restoration interventions interventions in in Mukura Mukura forest[forest] and and Lake Lake Kivu Kivu catchment catchment and[and] build build resilience resilience to to climate climate change, change, enhance enhance biodiversity biodiversity and and ecosystem ecosystem services services for for food food security[security] and and sustainable sustainable community community livelihoods. livelihoods. Terrafund Terrafund DRC[DRC][(OTP)] (OTP) - - This This project project aims aims to to enhance enhance river river bank bank protection, protection, and and reduce reduce vulnerability vulnerability to to landslides landslides by by planting planting trees trees and[and] around[around] Luiro[Luiro] River.[River.] The[The] goal[goal] is[is] to[to] promote promote efficient[efficient] use use of[of] land[land] and[and] ecological[ecological] functionality[functionality] through[through] climate climate smart[smart] agricultural agricultural practices[practices] that that reduce[reduce] land[land] degradation degradation and[and] support support climate adaptation, climate adaptation. MULAKILA MULAKILA - - Project Project funding funding to to build build resilience resilience to to climate climate change change and and sustainable sustainable agriculture agriculture value value chains chains (including (including timber timber and and[fruit)] fruit) in[in] agro-systems agro-systems around around Mukura Mukura Forest Forest and and Lake Lake Kivu Kivu Catchment Catchment Landscape, Landscape, Western Western Rwanda. Rwanda. CCAM CCAM - - Climate Climate change change adaptation adaptation modality modality is is project project funding funding to to support support integrated integrated action action for for climate climate change change resilience resilience and and[livelihood] livelihood[in] in mountainous mountainous Tanzania Tanzania and and Rwanda. Rwanda. Adaptation Adaptation at at altitude altitude taking taking action action in in the the mountains mountains (UNEP) (UNEP) - - Funding Funding to to support support improved improved availability availability and and use use of of mountain mountain observation observation data[data] and[and] information[information] services[services] to[to] support[support] knowledge[knowledge] of[of] climate climate change[change] impact[impact] and[and] help[help] generate generate solutions solutions and and adaptations. adaptations. Geo Geo Mountain Mountain Forum Forum - - Funding Funding to to support support the the delivery delivery of of one one GEO GEO Mountains Mountains East East Africa Africa workshop workshop to to be be held held at at Kigali Kigali in in October October 2023.[2023.] Combio Combio project[project] - - Funding Funding from from the the IUCN IUCN to to contribute contribute to to the the implementation implementation of of sustainable sustainable management management of of natural natural resources resources[and] and[environment] environment to to transition transition Rwanda Rwanda towards towards a a green green economy, economy, through[through] the[the] financing financing of of the the reducing reducing vulnerability vulnerability to to climate climate change change through[through] enhanced enhanced community-based community-based biodiversity biodiversity conservation conservation in[in] the the Eastern Eastern Province Province of of Rwanda. Rwanda. Bezos Bezos Earth Earth Fund Fund - - funding funding to to deliver deliver restoration restoration training training to to 7 7 NGOs NGOs and and 100 100 Friends Friends of of Nature Nature Associations Associations to to strengthen strengthen their their capacity capacity to to manage manage sustainable sustainable socio-ecological[socio-ecological] systems, systems, with with emphasis emphasis on on landscape landscape restoration[restoration] practices. practices. The The training training[will] will take take place place primarily primarily in in Rwanda Rwanda and and Burundi. Burundi. AID AID ENVIRONMENT ENVIRONMENT (UNHCR) (UNHCR) - - funding funding to to conduct conduct field field visits visits leading leading to to the the development development of of case case study study reports reports and and workshops. workshops. The The deficit deficit will will be be recovered through recovered through future future funding. funding. SUNCASA SUNCASA - - The The Scaling-Up Scaling-Up Urban Urban Nature-based Nature-based Solutions Solutions for for Climate Climate Adaptation Adaptation in in Sub-Saharan Sub-Saharan Africa Africa (SUNCASA) (SUNCASA) implementing implementing gender-responsive gender-responsive through through the the Nature Nature Based Based Solutions Solutions (NbS) (NbS) to to strengthen strengthen the the resilience resilience of of urban urban communities, communities, watersheds, watersheds, and[and] biodiversity biodiversity to to the the impacts impacts of of climate climate change, change, while while reducing reducing the the barriers barriers to to NbS NbS participation participation of of women women and and other other underrepresented underrepresented groups. groups. Prior Prior year year funds funds TSF TSF - Funding Funding for for Eco-schools Eco-schools as as a a tool tool for for integrating integrating sustainable sustainable development development and and climate climate action action within within the the Competency-Based Competency-Based Curriculum Curriculum in[in] Rwanda.[Rwanda.] NFF-RSF NFF-RSF - - The The ‘Seeds, 'Seeds, Soil Soil and and Culture Culture Fund Fund of of RSF RSF Social Social Finance' Finance' provided provided a a grant grant to to be be put put towards towards enhancing enhancing bio-cultural bio-cultural knowledge knowledge and and eco-agricultural eco-agricultural practices[practices] for[for] mountain mountain community community livelihoods[livelihoods] and and climate climate change change resilience resilience in in Rwanda Rwanda and and Uganda. Uganda.
Sainsburys Sainsburys - - Income Income relates to relates to consultancy consultancy services services for for the the Sainsbury's Sainsbury's Fairly Fairly Traded Traded tea tea pilot. pilot.
Mountains Mountains ADAPT ADAPT (UNEP)[(UNEP)] - - Advancing Advancing Climate Climate Action Action in in East East Africa Africa is is an an United United Nations Nations Environment Environment Programme Programme project project that that[is] is integrated[integrated] into into planning planning and and[policy] policy process process of of regional regional bodies/frameworks/platform/initiatives bodies/frameworks/platform/initiatives and and tier tier national national constituencies constituencies through[th][ rough] strengthened strengthened science-policy science-policy dialogue dialogue platforms.[platforms,]
GIZ GIZ WEFE WEFE - - Funding Funding for for Enhancing Enhancing Water-Energy-Food-Ecosystems Water-Energy-Food-Ecosystems (WEFE) (WEFE) Nexus Nexus and and Climate Climate Resilience Resilience along along Koko Koko (Rwanda) (Rwanda) and and Lwiro Lwiro (DRC) (DRC) Rivers Rivers of of Lake Lake Kivu Kivu Basin Basin through through Nature-Based Nature-Based Community Community Enterprises. Enterprises. The The deficit deficit on on this this fund fund was was cleared cleared when when[funding] funding was was received received in[in] 2023[2023] and[and] the the remaining remaining balance balance transferred transferred reflecting reflecting unrestricted[unrestricted] support support over over the the life[life] of of the the[project.] project.
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ALBERTINE RIFT ALBERTINE RIFT CONSERVATION[CONSERVATION] SOCIETY SOCIETY
NOTES NOTES TO TO THE THE FINANCIAL FINANCIAL STATEMENTS[STATEMENTS] - - continued continued FOR FOR THE THE YEAR YEAR ENDED[ENDED][ 31] 31 DECEMBER DECEMBER 2024 2024
18. 18. RELATED RELATED PARTY PARTY DISCLOSURES DISCLOSURES
There There were were no no related[related] party[party] transactions transactions during during the the year year ended[ended] 31[31] December December 2024 2024 (2023: (2023: Snil).[$nil).]
-
- PENSION PENSION AND[AND] NATIONAL NATIONAL INSURANCE INSURANCE COMMITMENTS COMMITMENTS
During During the the year year employer employer contributions[contributions][in] in respect respect of[of] non-UK[non-UK] social[social] security, security, pension[pension] and[and] medical medical amounted amounted to to $86,596 $86,596 (2023: (2023:$44,663). $44,663). The The balance balance outstanding outstanding as as at[at] 31 31 December December 2024 2024 was was $11,228 $11,228 (2023: (2023: $6,514).[$6,514).]
20. 20. FOREIGN FOREIGN EXCHANGE EXCHANGE
The The amount amount of of foreign[foreign] exchange exchange differences differences recognised recognised in[in] 2024 2024 unrestricted unrestricted income income is is Snil $nil (2023: (2023: $46,745) $46,745) and and 2024 2024 unrestricted unrestricted expenditure expenditure $77,750 $77,750 (2023: (2023: Snil). $nil).
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