2022-09-30-accounts - Shared Interest Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Contents
L al and	Administrative	Information
Trustees'	Re ort
Inde endent Auditors'		Report
Statement	of Financial	Activities	10
Balance Sheet			12
Notes to	the Financial Statements		13

			Year appointed
M Coyle (Chair)			2015
DP Alexander			2008
RAnderson	(appointed	October 2020)	2020
PG Chandler	(retired March 2022)		2013
MP Kyndt (retired March 2022)			2012
YGale			2019
CTalens			2019
MJF Duncan	(appointed	December 2021)	2021
JCP Valentin	(appointed	December 2021)	2021

		Note	Unrestricted	funds	Restricted funds	Total	Total
						funds	funds
				2022	2022	2022	2021
Income from:
Donations and legacies			217,034			217,034	290,387
Charitable activities					93,496	93,496	71,625
Investment income				755			583
Total income				217,789	93,496	311,285	362,595
Expenditure on:
Raising funds				12,062		12,062	11,044
Chadtable activities		5, 6		259,706	63,670	323,378	293,105
Total expenditure				271,768	63,670		304,149
Net income / (expenditure)				(53,979)	29,826	(24,153)	58,446
before transfers
Transfers between	funds
Net income / (expenditure)				(53,979)	29,826	(24,153)	58,446
Net movement in	funds			(53,979)	29,826	(24,153)	58,446
Reconciliation of	funds:
Total funds at 1 October				310,239	74,033	384,272	325,826
Total funds at 30September				256,260	103,859	360,119	384,272

Previous Financial	Year	Unrestricted	funds	Restricted funds	Total
					funds
			2021	2021	2021
Income from:
Donations and legacies		287,374		3,013	290,387
Charitable activities				71,625	71,625
Investmsnt income			583
Total income		287,957		74,638	362,595
Expenditure on:
Raising funds			11,044		11,044
Charitable activities			185,689	107,416	293,105
Tots Iexpenditure			196,733	107,416	304,149
Net income before transfers			91,224	(32,778)
Transfers between	funds
Net income			91,224	(32,778)
Net movement in funds			91,224	(32,778)
Reconciliation offunds:
Total funds at I October		219,015		106,811	325,826
Total funds at 30September		310,239		74,033	384,272

				Note	2022	2021
Current assets
Debtors and	prepayments				10,211	14,108
Cash at bank	and in	hand		12	276,800	268,511
Deposits with credit institutions				13	109,265	108,573
Total current	assets				396,276	391,192
Creditors: amounts		falling due within one year		14	(36,157)	(6,920)
Net current assets					360,119	384,272
Net assets					360,119	384,272
Chadtyfunds
Restricted funds				15, 15,17	103,859	74,033
Unrestricted	designated		funds	15,17	121,615	193,498
Unrestricted	funds			15,17	134,645	116,741
Total funds					360,119	384,272

2.INCOME FROM DONATIO	NS AND LEGACIES
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2022	2022	2022	2021
Individuals	213,074		213,074	285,943
Trusts and corporate	3,960		3,960	4,444
	217,034		217,034	290,387

							Unrestricted	Restricted	Total	Total
							funds	funds	funds	funds
							2022	2022	2022	2021
							2	2
Anonymous	-Bees	for Business: Supporting		Growth Through Solar Energy				20,000	20,000
Anonymous	-Nicaragua Sesame Farming									20,000
Charles Hayward Foundation - Expansion				of Growing	Fairer Futures Rwanda			15,000	15,000
Evan Cornish Foundation -Seed to Stall			(ECF)					8,000	8,000
Guernsey	Overseas	Aid 8 Development	-	Bees For Business (Sideradougou)						22,450
Guernsey Overseas		Aid ft Development -	Seed to Stall (GOA)					22,451	22,451
Mr TM Dickerty - Dakoro Well Construction										500
The Marr-Munning		Trust - Coffee Farming		Uganda				21,500	21,500	28,675
The Peter	Stebbings Memorial Charity -		Ghana Soilless Farming			Drip Infgation		6,545	6,545
								93,496	93,496	71,625

5.ANALYSIS OF RESO	URCES EXPENDED BYACT	URCES EXPENDED BYACT	IVITIES	IVITIES	IVITIES
	Activities		Grant funding			Support	Total	Total
	undertaken	directly		of activities		costs		2021
		2						2
Bees for Business Part 2 (Burkina Fasoj								10,358
Bees for Business Sideradougou								61,847
Coffee Farming Uganda		5,414		26,492		13,016	44,922	19,011
Dakoro Warehouse		2,038			500	967	3,505	2,418
Environmental Protection and Biodiversity		34,268				14,112	48,380
Growing Fairer Futures								7,229
Growing Fairer Futures Cote d'Ivoire		4,296		13,993		7,401	25,690	59,756
Growing Fairer Futures Rwanda		13,153				5,218	18,371	27,699
Improving Coffee Production in	Peru	17,745				7,247	24,992	46,077
Improving Livelihoods Through	Agro-processing	24,146				9,848	33,994
New projects		4,564				1,699	6,263	5,414
Seed to Stall ECF		3,276			2,846	2,428	8,550
Seed to Stall GOA		6,567		12,433		7,655
Soilless Farming - Drip Irrigation		2,836			2,553	2,120	7,509
Strengthening Coffee Producers Resilience to Climate Change		19,323				7,921	27,244
Women in Nicaragua Organic Sesame Farming		5,049			4,853	4,042	13,944	25,987
Women in Soilless Farming Ghana		23,723				9,634	33,357	27,309
		166,398		63,670		93,308	323,376	293,105
6.ANALYSIS OF EXPENDITURE ON CHARITABLE			ACTIVITIES
	Unrestricted			funds	Restricted	funds	Total funds	Total
				2022		2022	2022	2021
Bees for Business Part 2 (Burkina Faso)								10,358
Bees for Business Sideradougou								61,847
Coffee Farming Uganda				18,430		26,492	44,922	19,011
Dakoro Warehouse				3,005		500	3,505	2,418
Environmental Protection and Biodiversity				48,380			48,380
Growing Fairer Futures								7,229
Growing Fairer Futures Cote d'Ivoire				11,697		13,993	25,690	59,756
Growing Fairer Futures Rwanda				18,371			18,371	27,699
Improving Coffee Production in	Peru			24,992			24,992	46,077
Improving Livelihoods Through	Agro-processing			33,994
New projects				6,263			6,263	5,414
Seed to Stall ECF				5,704		2,846
Seed to Stall GOA				14,222		12,433	26,655
Soilless Farming - Drip Irrigation				4,956		2,553	7,509
Strengthening Coffee Producers Resilience to Climate Change				27,244			27,244
Women in Nicaragua Organic Sesame Farming				9,091		4,853	13,944	25,987
Women in Soilless Farming Ghana				33,357			33,357	27,309
			259,706			63,670	323,376	293,105

				Staff costs	Other costs	Total	Total
				2022	2022	2022	2021
Expenditure on:
Raising funds				10,738	1,324	12,062	11,044
Charitable activities
Bees for Business Part	2 (Burkina Fasoj						10,358
Bees for Business Sideradougou							61,847
Coffee Farming Uganda				7,713	37,209		19,011
Dakoro Warehouse				2,085	1,420		2,418
Environmental Protection and		Biodiversity		5,467	42,913
Growing Fairer Futures							7,229
Growing Fairer Futures	Cote	d'Ivoire		5,715	19,975	25,690	59,756
Growing Fairer Futures	Rwanda			6,316	12,055	18,371	27,699
Improving Coffee Production		in	Peru	4,144	20,848	24,992	46,077
Improving Livelihoods	Through		Agro-processing	5,909	28,085	33,994
New projects				4,564	1,699	6,263	5,415
Seed to Stall ECF				2,980	5,570	8,550
Seed to Stall GOA				6,656	19,999	26,655
Soilless Farming - Drip	Irrigation			2,956	4,553	7,509
Strengthening Coffee Producers		Resilience to Climate Change		3,866	23,378	27,244
Women in Nicaragua Organic		Sesame Farming		2,327	11,617	13,944	25,986
Women in Soilless Farming Ghana				6,667	26,690	33,357	27,309
				67,365	256,011	323,376	293,105
				78,103	257,335		304,149
8.SUPPORT COSTS
						2022	2021
Office costs including	training					20,710	22,983
Wages and salaries						6,690	5,505
Support services provided by Shared Interest Society						49,718	31,697
Marketing costs						12,590	5,931
Governance costs						3,600	3,600
						93,308	69,716
9.NET INCOME	/ EXPENDITURE
This is stated after charging:
						2022	2021
Auditors' remuneration	(audit	s	ervices)			3,600	3,600

Staff costs	Staff costs	were	as follows:	as follows:		2022	2021
						2	2
Wages	and	salaries				75,110	68,805
Social security costs						2,612	2,384
Defined	contribution			pension costs		2,557	2,453
						80,279	73,642
Average	monthly		number ofemployees		(none of whom are Trustees) during the year was:
						2022	2021
						Number	Number
Raising	funds
Charitable		activities				1	1

						2021
Prepayments						1,933
Accrued	income				9,686	6,163
Amounts	owed	from	group	undertakings		6,012
					10,211	14,108

12.CA	SH AT	BANK AND IN H	AND
					2021
					2
Cash at	bank and	in hand		276,800	268,511
				276,800	268,511
13.DEPOSITS WITH CREDIT			INSTITUTIONS
				2022	2021
Deposits	repayable	in not more than three months		27	27
Deposits	repayable	in not more than one	year	109,238	108,546
				109s285	108,573
14.CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
				2022	2021
Amounts	owed to	group undertakings
Accruals				8,273	6,920
Trade creditors				1,899
				36,157	6,920

		Restricted	Unrestricted and	Total	Total
		funds	designated funds	funds	funds
		2022	2022	2022	2021
		2
Current	assets	103,859	292,417	396,276	391,192
Current	liabilities		(36,157)	(36,157)	(6,920)
		103,859	256,260	360,119	384,272

Restricted income fun	ds carried	f	orwa	rd at the end o	f the financial	year comprise:
									2022		2021
Bees for Businesta Supporting		Growth Through Sdar			Energy				20,000
Coffee Farming Uganda									15,076		20,067
Dakoro Warehouse											500
Expansion of Growing	Fairer Futures			Rwanda					15,000
Growing Fairer Futures Cote d'Ivoire									19,961		33.954
Livelihood Security Fund									7,336		7,336
Seed to Stall ECF									5,154
Seed to Stall GOA									10,018
Sdlless Farming - Drip Irrigation									3,992
Women in Nicaragua	Organic Sesame Farming								7322		12,176
								103,859			74,033
17.MOVEMENT	IN FUNDS
				Balance at	Income	Expenditure	Transfer	Designation		Balance at
				1 October			between		of funds	30September
				2021			funds				2022
							2		f		f
Unrestricted Income	funds			116,741	217,789	(157,511)			(42,374)		134,645
Unrestricted designated funds				193,498		(1 14,257)			42,374		121,615
Restricted Income funds				74,033	93,496	(63,670)					103,859
				384,272	311,285	(335,438)					360,119
In 2021 the Trustees	designated		a further Et14,596		to three projects which are ongoing. The Trustees				have designated		a
further sum of242,374at the year-end for another project.