SHAREDINTEREST FOUNDATION TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Shared Interest Foundation is a charitable company limited by guarant88 Registered Company Number: 4833073 Registered Charity Number: 1102375 SHARED INTEREST FOUNDATION ANNUAL REPORT2023 Contents Le al and Administrative Infomlation Trustees, Report Inde endent Auditors, Re ort Statement of Financial Activities 10 Balance Sheet 12 Notes to the Financial Statements 13 sha￿ Interest FoUndati￿- Trustees. Report and Financial stat￿ents for the yew ended 30 September 2022 age2 LEGAL & ADMINISTRATIVE INFORMATION LEGAL STATUS The organisakn.on is a charitatle company limited ty warantèt Iregi%twed cofflpary nurrtv 4&330731, i￿p￿￿e0 on 15 July 2003 ane registered as a charity C￿ 27 Februay 2(IM Iregistwed ch* numbar 1102375). The CoMp￿Y was established und¥ a of A$s￿lat￿)n1)S Juty 2c￿l whth seis cMJt the otr4gctive5 WLI pow￿$ ol the charitabb company an¢J is go¥wned undw ofAsx¥i￿￿11s Juty 21W. DIRECTORS AND ADVISERS for the year ended 30 September 2023 The Th'rect¢ys of the ccffjpany. who we also the Trustees ofthe charrty. 71th0 vme in Off￿ year wer8.. Y•ar appolnl•d DP Alexander M Coyk (Chay retired 2023) Y G￿e (Chair from M¥ch 2tr231 C Tal8ns 2015 2019 2019 R Anderson MJF ￿nCan JCP Valenlln J MAlw lappo•iled 20221 Company Secretsry TD ￿gOn Independent Auditors Armstr￿9 Watwn LLP Ckne Slrawbery La Nèwcastle upon Tyn8 NE148X Principal and Registered Ofllce Pwl Assurance Hou8e 7 Nw Bridgg Str991 Wgst Newcastle upon Tyne NE18AQ Shar8d Intèrèst FoundalK)n . Truste8s' RepL¥t atKI Financh4 State￿￿1$ ts the year ended 30 Septen*er 2023 pagg 3 TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Trustees present their report and audited fina￿la1 statements for the year. This report has been prepared in accordance with the special provlslons relating to small companies within the Companies Act 2006. GOVERNING DOCUMENT AND ORGANISATION N*￿a$lle ￿￿￿ School for Girfs (Chair of GovwrKsrsl. Sl 05wJd's Prsrnary sth￿, S(xrth Shields IGov8morl, N8wca5U8 Bugn8ss Sc*r*Y Ath550ry Bo¥d The c(wnpany 1$ governe(I by its MerrM)randum and Artides of K8sociatwJi. It is also a wistwed charty. Th day-t(pday rLnning ol th• company is ovtrseen by the Board of Trustees. Tim PRINCIPAL AIMS AND OBJECTIVES Yv¢m Gae NEL FWKI Mwa9ws Ltd D'fect￿) h8 8ppcintmemt8 bdow in Italils ar¢ ¢*yM￿t or serrM-¢J)rrnant entitw Ilnked to th8 atr￿8 8pkKintrr￿tl. NE Growth FRDQ Gew* PartwLtd (iknto4. NE Growth (ERDF) Camed Interesl partll￿ Ltd ￿leCtor1, NE &rJall Loan tERD8 Gen*¥l P8rtnw LtdlTh"rB¢torJ, N(*thÈm Entewns8 L￿￿t￿￿￿Èorl, Institute ol Chartered Ac(tsJntants fft Entyand Waks, Commercia Board (m￿be￿, Nc*1hwn Sjoety ol Chartered A(*(wnt8nts IPast Pwdentl. Milliek H(xtse F￿￿￿atIon ffrustee and Cha of Invesin*nt Comrritle8). N4)rth East EThJland Chamter of Comier¢e 'rector and Chair of Investm￿1 CthnrThllael, Office ol the Smdl Bu51rEss Cem￿￿$SOner Ichar), Pr(￿p1 Paymgnt Cc#J8 CcThpb'ance Board (Char) Swr(t SuslanatAe &JprAy Chans Ltd. Leek Gear5 Limited, Direct￿ of Bu%ness sk Assessments at the Wllberforce I￿til￿te luniv8￿ty of Hull) [￿chard AIVJer￿ Marstw LW S8Nices tsrrited. Engage Serrices IESLI Lirnrted Tho of¥'e¢vves ol the Foundation are lo.. athiance education and traw)iThJ". to rd49￿ povarty, sckness aThJ (*"stress in all wts of the worfd in all respects l¢x the twgfit of the putlic in accLYdancè with the law of charity in England and Wa*S. In order to deliver thw6e 0tr4"ectives. V4E wm to improve livefihoods through the d8velowent of >Jstanabl6 busnesses ￿neralDn inits"atwes ￿0$$ Afrka and Latin America. CXJr projects PYOVKle tw.ness ￿pp￿t to srnllh(4der producer groups with a focus on empowering women y(wJth. anos t￿lkY1r9 diffla? res1rw￿ in rerrK)tg communities. Wè bdieve that aTr well.managed bu&n8s5es create w￿0Yn￿￿t opp¢ytunities and increase th8 Ir￿orne of Fyoducets and workers. resLliing in an Irnprown￿rt in their ouaity ol life. Our Shared Interest Thec¥y of Chang8 ￿ch is Shar￿ by thg Sociely and F￿ndatIon. Ilescribe8 IKM we airn to re%lient businesses that in turn prov?de ￿nefIts to lo commur*tl&s. This Is extlained in nK)re detal in our g)oa accounts availab￿ on the website Crfsbna We have referred to the guidance from the Chan"ty cL￿MiSsion on public b8n8fit vhwn iwewir#J cwr ?4ms and 0￿"ectiveS and in planning our lutLwe actNthes and b81i8ve that we comply with this. A summary of Ihe projects demonstrating this is given on page S. The r￿￿￿4paI and re9'st￿ed dfice of th8 Foun¢Jab'on is sh(**n CMI page 3. APPOINTMENT OF DIRECTORS The Oirectors of the company vtho 5eryed thring the financ year are listed on page 3. They are ap￿￿¢￿ to the Board by resclution of the mwmber- Ihai is Shared Intwest Soc Ltd rsis'i. Followng gbcbon thty induction IrwnirMJ induding r8view of documents and WKies, mee¢irKJ staff and receiving bn'efings Irom kèy ￿r$c1)nd. As r*rrr*ited by the Articles of Assoriation, the Directots have the tenefit ol an sn¢Yemnity wtrich is a quaifying third-paty in¢Jemnty prow5KYTr Korw Baka. as defined by *tiin 234 of the Companies Act 2W8. Th8 I￿eM￿ty was in force throughout the last fin￿C￿j year arKI is currenly in for¢9. Mdssa Fartrade Internab"￿* IExecArtive rKt(x), Tllulah Love LirrMt*J (Diraclor), 8(WKtsteel ￿mited Ifthrecto¢ PaLd v￿￿1ft Jarn￿ Bo*d of Govemors Sidcot SchrK4 ICFWI, LLC MillKs Twst OTHER EXTERNAL APPOINTMEKrs Belc*w sl￿Wn the extemal th"rectorshipthst8e51¥ps of thg m8mbers of the Board of Th"r￿tr￿S and SwiLY M￿ag9ment Team. Wl below are TrrectOFS of Shared Initre Society tinHt8d. Tim Mc¥gan is the CcAmWy Secretary ol tha Foundabon but 1$ not a ¢Jirector_ Kerrey Baker is aso onty a d'rtctLY ol lh• Society tMJt not the F¢xmdation. Shared Interest Foundalw - Twslees. R8pM and Financkal Sla¢￿ents for the year ended 30 Seplernber 2￿23 page 4 TRUSTEES, REPORT CORPORATE GOVERNANCE climate wlierte and Strengt￿ft eoffèè farming txtslwss. ￿ fam￿$ I￿AVed trap)ing in GAP. climatg sm*t atyiculturè and (￿￿an￿ cornpx)5t producti)n. dl ben•ficiary fami8rs are prL¥Jucing comw5t in groups, redLKirNJ their cost of prrylu¢iion and imw¢)Nw c#)ffee quahty. In t¢>tal, 86.050 eoffèo S￿l￿.￿J$ and 10,919 shada trees wére distrbuted lo fam*rs. CuTh*ntly. 70% of farmers are regullqrty saving in a SACCO (Savings and Cr•Jit Cc*walN8 Or9ani8ationl As noted above, the Board of g)¥ed Intere￿ Four¥Jatic￿ has large overlap with that ol the membw organisatK)n. Shaf&J Intèrest Soci•ty. Du• to this lact a number ol thè commitl*ès ol the Socièty Board a￿ common to both (¥ganisatths- notabty th8 Audit, Nomination and F18muneraknon c0nvnilts￿. The statutory aeetyJnts of the Society c(xitan a detaI￿d roport of thagè conynfftaas and this has not ba￿ harè tyJt is availa￿• aecoJnts from thè Pul￿tat￿¥1$ ￿￿tIOn of the websi18. Ajor￿de those th8r8 is ak80 a r8wI 8$8essirg crynpliancg with th8 Charity Cryalg Gov8mm We L4Jrthed fow Kxtiittis durirrfJ fv ygar.. Code and this simikrfy appli￿ to the Bowd% of bolh Fairnr Fuluros Rwanda (Expansion) launchad ¢xganisatlons. thiot*r 2LYi2. enabled us to scde up our pilot cl￿1 in partnership with ￿ff88 C￿rative K￿a￿ary￿ in A￿￿￿a. Thts on&y•ar projact supported 143 young f*mas to &Sta￿lsh th&rown s￿t￿Trably marwj coffee fwrn. In ￿0UP5, they receIv￿j tool$ and fam inputs ineludifig aO.((#) coff88 $88dlings. warè trainad in GAP. eltrnate smart agriculture sklls aTrJ accessed tra4ning wa REVIEW OF THE YEAR AND FiTfuRE DEVELOPMENTS The Foundation works with a ￿￿nt rTwion *ith Shared Inte￿st Sooety to provide finan04 $￿e$ aThJ bLwness suppc#l to make liveli￿d8 and tsmng standards better people as they trade their way OLrt of The SThty is a soclal lendw and the Foundation undg1akes a wge ol &thvrties, all frKused on the end ￿ ol supwwliThJ and develoF4ng prthjucer organK￿￿"Ons. We ￿M￿lty surwl busnesses wthin the lar trade movem&)t. see￿"ng to ensLwe that our activlty leads to both financid and soual benefits within cornmunrti85. Th• out0)r￿S of proigcts dètai l)ek)w demonstrate that we have C￿tinU￿ to ddivtr on L aim to SUF)POrt moro resi11￿t bu*nésstS WOVKling Lx)th a S￿ra1 and a financial rètum in th*'r W eLNnmunitiéS. Furthw det￿1 of our impact is contaned in lYx￿)In1 sc¢W avwlab18 from th8 website Is88 link abjve). This year wè continued to dalivw ttYe8 wojects: Grov•in9 Fair•r Fulw•&' Ivory Coast Lau￿ in DeCernb￿ 2020. This fve-yW continues to support 50 yOLW)g pèopla (20% fern￿61 living in t £ B•os for Bu¥inos# Solar P*ng1# in Burkin• Fa¥0 was 2022 aTrJ provides adthlion SUPF*Nt to the 50 [r￿MberS ol the Ben￿1 de Dakoro W(￿.¥ ryp who we suppNted in 2018 trwough i)w Bees fcf BU51r￿ woiect. To enable the group to Fywess ￿ aft¥ dartc when the bees a￿ tess active. )1¥ Pa￿ were ir6tall&Y. Access to electrictty has t4e(I the to increase the volume ol honey they lY￿e$S thus rK¥easing th￿ income t￿5 act¥wty. Th8y PL¥chas&J a frvjge aThJ have dive¥slied further into tr* t¥othctkon and sate of frurt jul￿. The solar panels arè aLw supp￿Th) elecitity to 20 housthokls. L￿ntr[￿1n9 318 indN¥JuaLs ir￿uding 201 childrth. B￿ldN￿ Rosllhnc• ofCoff•e Farn*r8 kn W•Jt•m Uganda throuBh Agrofor•stry launched in April 2023. c¥1ting wrth coffee c0-0￿rat￿& Banyankole Coffee Services (BCSI. Ihis woiact ts supporting 300 ol th&"r members126% wom6nl. To dalè, tha farmèrs have trainéd in aw0for￿, clmnate ￿118￿ and eco- friwvjy farming p￿tiC8s in F￿arat￿fi f¢y expanding thw'r eolfeè fm. 12.(n) disease and dimate resistant colf98 saadlirys and 4.39) agrg.fry¢slry have al disbibuted famiws. Agricole de Yakasse Att0br￿ ICAYAT). The prciecl wi enable participants to 85taL4ish l￿'r LAvn c(￿a farm. generate a sUst￿nthe source of a￿1 Contribute to tho wjstwnabdity of wodUCt*￿ We are n¢)w in the third year of this wol￿t and the young farmers C(￿linUe to receiv8 inputs to mwnlwn farms. The extensKJn oth.cws at CAYAT Contin￿ to famiws with techn￿1 support and wi¢Yance to ￿sU effective rnana9￿nt ol th&r Tho f*st haFVOSt 09 expected to begin in November 2tr23. I In¢f¢aslng the Resnlenco of coff￿ Farnthg Hous•holds in RU￿ Uganda launc￿ in Apn"12(Y21. This ljyo.year project is supwrting 365 coffee fam 140% women) to inuease th￿r fh)usehc4d wIle￿e by growing passon fruft and werate ￿ ¥Jdrt¥)nJ of income. Al the participant5 werè twamied in GL Agricultwal Practices IGAFry, difflate smart wJriculbJr8 and organie f¢rblKw proc*Jetion ènthirMJ the fawmtrs to implérnént fam) Man￿ment Knclicès ihat imwov*l th￿r coflee weld5. The proi8Ct ￿s0 exteTrdad its suprx*l lo financlal emp(M8rment by deli￿ng trainiThJ in Vil Savings and Loan AS$￿1￿10n NSLA) Mana9ewt. This r&3ulted in the formaticffi of 10 sa￿n9$ with 151 acbv8 members (70% wcrfnenl. The rnwn activities Conduded tn Marth 2023 and an extwnal evaluathjn was conduc￿￿ in Octotw 2023. & Str¥n9thening Coffee Produc￿, Re$llien￿ to Cllmate Chanq• in p&lnership with Rww#J coffee co-operative, Tropi¢ Coffee Lld. this ￿-Ye￿ syoject was launched in Febru￿ 2Wd. This is supporting 625 farrners118% *￿rI￿) to increase ti laU￿hed in September 2023. This project will supwt 2(VJ ￿n(m￿l¢allY vulnwabb w(fften to grow and Fffrxess grouThknts into ¢il. butter and roasted edible nuts to sell on the nat￿n￿ market ￿Suring thèy i￿1¥6 a higher t￿r woduct. and cLJntribut¥)g towards a Fwlly. d￿ng the yw we c￿luded seven wojects.. GThing Fairnr Fuiwe&' Rwanda was delivered in pwthwship with Kopakama. a coffee co-opw*ive based in the Westwn prowrKe of Rwanda. Launch&J in Febru￿ 2021, thi8 two.year project supported 50 famws to establish a gJslainabl8 colfee fam). h farw was wovK*d ￿th tools and èquipmènt and tr&"nlng in &4P. climate smart agriculturo, and aL¥i- bug.nèss th"ILs and 70.[￿] coffee 588dlin95 Wer8 also distritMJt*J to the lam)ars. Two dernon5tration fwrns wtte foy the young farmers to T￿￿¢ W￿lical trwnin9 in coifee I￿1r￿j téchn￿ue#. tlwwh Soill•ss Fami1r￿ Ghana launch8d in Fabruary Shared Interest Foundation- Trustees, fle[￿ and stalw￿l¢s lor the yew ended 30 Sept¥n*)w 2023 page 5 TRUSTEES, REPORT 2021. This innovatlV8 FJfoi8cI sw)p¥MtwJ 60 f￿ale baskel weavers to dlveThfy their income thrwh the proyuct of vegetables uwng a SS5, C￿tr"I)Ut4n9 towwds the WM¥onrnentd wot*tion and (￿Se￿a￿On of thwr wion. As wdl as aThJ tra￿ry, a wnch system was inst4le¢J io imwjve t eff￿￿ncY of Ihe harvesting process. wIMch led to a rapid ncrease In the vc4ume ol moss harvested and t income of thg harvesters. t)Jè to inte￿t in the wojert th8 number ol cornmunit18S InvI)IV￿1 I￿rea$&y to 28 and over 1.OlJ) hwesters r￿Ve￿ tr8in*ng in gJstanat4e mtsss h￿esting techn￿￿ conse￿atIon rnethc*J5. Imp￿n9 Liv•￿￿00d$ through Agro-prwessing launched in Bur￿na Faso in Aw"12022 ￿ partner5hsp with the Natsonal Far Trade Platform ol Burkina Faso IPNCE.81. Th15 Value woiect supported 40 female thea C￿l￿tty$ to Inue8S8 their income through pr￿*s$ing shea into soap and buttor io sel ( the I(￿al and exw* m*ket. An addttional w)me re￿Ve￿ training in processing néré beans into soumtrA FxWuts￿ W Sp￿ wtth nutffjt￿￿ and v￿UeS. Seed to Stall: Increasing Solf-sustalnabluty throu Soilless Vegetsble F•mlng launch￿1 in Septemb8r 2022 in 8uthna Faso. To deliver project we WL¥k in partnetship with PNCE-B and GAFREH, a w0m￿le SoiH•ss V•9otsbb Farnwng laurKh8d in Septertjef 2022. Thi$ project was delivered alongside oirw Seed to StJl prciect In Bur￿na Faso, and suprth*J an additM)nal 30 wrxnen to estab&sh sthlless geiable 9ard•is at theK horr￿$ to Incrgase htyJs6Md fwy seryrrity and hnancia Te*lience. LIVELIHOOD SECURrrY FUND Livelilmxxl Sacurity Fund was rela￿Ched in 2020 to rase restrfctsd funds to hdp pr￿JucerS in Afn"ca and Latin Aw"¢a we severely imp&ted by events outsKle of thw"r control. A sum of £7.￿ (2022.. e7.336) was held in this fund ai the fInw￿al ye¥-end. reaty to deploy in aprffjrpfjat RESTRICTED INCOME FUNDS We ack￿￿ledge the of restn'cted funds lotdling rnost £143k12022.. WJ.5)g in our finan¢id Statem￿15 and d￿¥1$ are Kwwded at notes 2 and 3. We are grateff￿ to all ihe th)ntys who have wppryted our work in the past y8ar. UNRESTRICTED INCOME FUNDS Lhyestsfcled tr￿rn8 forthe year was £￿8k. up from t218k Ihe Kwous yew. and F201k ligher th￿ our txJdW fc* the year. Much of this furKffing is provwJed by th)nalions and legaraes frcwn mernb8rs of the Shar&1 Intwesi Sc¢ioty for whith the Trustee5 a￿ espeoaly gratef￿. A number of the s￿￿5 th)natwJ cam8 from accounts where we are awwe. sadty, that the mernb8r ol Sharecl Interest Soo'ety has We *YMJld like io exI￿d our deer￿ sympathy to the farTh1￿ in quesbon and assure yw that we will seek to do Ihe very best to h￿(￿Jr y￿r rdab've by wtting their 9gnerou$ Ikjnalion lo gcKKI use in Ihe FouTrJabcfi. The Ftyjndation ccmtinues to hold a number ol legacy nofftnatity)s from the rr￿rnber8 of the SL*ièty and the Trustees of the F¢yJndalk)n are ihanklul to SoL?8ty who have that tw iniend to SLWC¥t the ¢h&ity by leawng a bjacy in this manner. t>"vpJsltyro unrestricieAJ income sDJrces has continued to b8 Ch*1￿)91Th) tsJt we were lo finish Ihg year wth an incxe85e In Iree unrestrthd reseNes (that is. 8xclu¢fing lunds de&gnaied to a number ol wific prO1￿ts). We mntinue to ¥eek n8w a¥￿UeS to grow our in¢ome, r8cogr•siryJ Ihat W8 cannot rdy on dothons frryn SoC￿ty. mefflbers. FundragThJ &)sts in fina￿41 stateffl￿ts repres8nt a K￿Ky￿.0n of staff Sm￿1 fees to *tes such as JustLlvlrMJ aThJ. wtten these I)¢￿r Inil this yèarl. some smal costs of fund-rai9ThJ ￿ents. We are grateful to dl those who suprM)rt r woth. IndN¥dua3, trusts and grant maknng bth*"es. Marrdgwnent costs as a pwcentage of chaffjtable eXP￿ltur• were 31.6% P￿22. 28.9%) and fUndra￿Trg costs as a pweontw of inccme were 2.8% P022.. 3.8%). The increa58 in first ralio ￿llects th9 impxt of inftat?tin. The second has fallsn wth a year ol Tfwmg, but doès vary annualty due to unevemess of income tseing recth"ved. Fund- rwsng èfforts often take so￿￿ time to come to fnJitwJn. RISK ASSESSMENT The TrL6tees C￿$￿1￿ that the mwn risks I￿ing the chanty e as bdow. A v*ety of tool$, ¥yst8m5 and procedurès a used to mMgate thes8 risks where ptrssible. I￿ident during Staff travel.. 2. on key personnel. absance. Ioss OT fwlLW• to re¢)urf(: and Shared Interesi F0undatv￿- Twstees. Report and Finamal Statements lor the year ended 30 September 2023 page 6 Political instability ueating operat￿41a1 aThJlc* s￿lty IS5U05 over￿$, inwacting income aThJlor staff saf•ty, In 2022123. a full year of travel has teen posst4e &3ain snce the paThJemic, whwe necesw. and this has been imp￿tant as it provldes the Ivllest view of the pwess of KVOJ￿ts. As noted atKTrve, genertyJs fuThJing from a of diffwent donors this yw has mèant that tha FourvJats"on has bean e to increas& ￿9)Jrc*S a￿1 wove expeThJitfft ne* projects 21723124. ch*ilabkn corTpany arvj hencè fLY taking reasorwble steps for thè and detecti￿ ol fraud arKI other irregularitw. The Tnjslees &e respcKwUe tor mantenanee and Inte￿ of tharitable c￿panY'S T*￿1￿. Legislati in the Unrted King¢*)m govemiTvJ th• w￿ratIon and diwminats.on of TH)an¢￿ siatemants may ¢ffiar lrnm JisLab"on in oth8r jLWi5dKtsons. STATEMENT OF DISCLOSURE OF INFORMATION TO THE AUDITORS RESERVES AND GOING CONCERN STATUS Tha Tntsteos who in ollk• on tha datè of approwal of The Tntstees have agreed that the Wicy sho b* to keèp. rK)￿nally. the tyuivalent of tlyae to Six ￿l￿th$ Unrèstrict￿ exwdilwe as free re$￿ts to eover wwjds of unev8n inLYJm8 LY un&x￿led i￿01￿ short￿￿ Th¢ balance on th8 Unrestricted income lund at the Y￿4nd, not of amounts d￿￿nat￿l for $￿CIfiC Fwoiects, re[￿￿ts about months of fLYecast unrest￿ted exp8TrJrture, the hvJher number being deemed appropriate in the cuffgnl vwy hdlenging operational and fuTrJing enWrcffin￿nt The ch* has one mwnber. Shwed Intwest Soclety. Based on th& linancia p￿tion ai thè 30th Sept￿bIr the and there ts a ￿gh kn of over* betwe￿ the Boards Busin&8s Plan Irx the 2023124 year and beyond, th8 Truste88 of trKJth organisalk)rts. The chwity does not ther8lore hold beligvg that Shar•l Interesl Foundatwjn is a gcrfFWJ co￿arn an AnnuJ Genernl ￿￿￿"ng but the Board ol the Socw will and the8e financial ststements have been Fryjwed rm that Armstrong Watson as auditors lor the yw which basis. ts￿an ￿ 1 Ociobw 2023. awa￿. ttwt tt￿e is no re￿an1 aL*Jit Infc￿at￿)n of whtch the a￿rt￿5 ¥8 unawae. Each of thg Tru8tees havg Confir￿1 thai thty havètaken all th8 step5 that th8y ought to havo (8n a8Trustees in order to makg thwnsdves awwe of any r81want a￿￿1t inf(xmatbJn and to establish that it has been INDEPENDENT AUDITORS STATEMETrrr OF TRUSTEES, RESPONSIBILITIES The Trustees Ivtho are dso dweclm of Shwed Intwest Foundation for the purposes ol Cornpany To¥￿￿1t￿o for preparing the Trustees. Annu￿ Rg)ort the finwc statements in accudwce wrth aFf4Kable Law a)Y rewlatw)ns. Company law wvires the Trnolees to prepare finwryal statements for each fin￿1￿ year. Under that Law the Trustees have the finaKid statements in accordance wth Unit8d KiNJilc*n Ger• Puepi*J Aecounb"ng Practice (Unrtwj ￿n9￿C￿ AccthJntiwJ Starthds and aFylieable lawl. Under eLNnpany law the Trustees must not apF¥ove the financial statements un￿$ Ihèy ¥• satisfied that they give a tn￿ and far view of th8 State of the affairs of th8 chaFitab18 company afftl of th8 in)rnir resour¢e$ and applution of resour￿ induding the I[￿0￿ and expenditure, of the ¢haritthe Crynp￿y for ttrKqt p￿￿1. In preparing these financial statewt$. the T￿￿te8S are required lo $918Ct suitaAg a￿0[￿ling pdipg5 apFty tlwn consist￿Ny., obm8 th* m¢tht& in thè Charibes Y Gale Chalr of Trust•OS makt judgmént¥ and tstimat•s that *• rgas)nations arKI legaci Chants￿e actiV￿.e8 217,CQ4 217.034 93.496 InVestrn￿t income 755 755 Totsl In￿• 217.789 93.496 311.285 Expenditur• on: Rav&ng funds Charitable activit 12.C*)2 12.062 323,376 259.7 .670 Total expgndlluro 271.768 .670 1&3.979) 29.826 124.153) Translws betwewi l￿dS N•1 Incom•ll•xp*)thtw•) 153,979) 29.826 P4.153) N•1 M0￿m•nI Sn fimds 153.9791 29.826 124,153) Aocondllatlon ol fund&. Totsl funds at l October 310.239 74,033 384.272 Total fwYl$ at Swon 256.2e 103.859 360.119 Shared Interest FolN￿all0n- Trustees. Report and Financtsi statwnents l¢y thg year ended 30 Sepierthr 2￿23 page11 BALANCE SHEET AT 30 SEPTEMBER 2023 Note 20rJ 2022 Current assets Debtors and prepaYr￿tS Cash al bank and tn hand 11 10.211 12 195.870 276,8 tleposits vlth credlt ¢rtststutN)ns 13 389.076 109,265 Total c*r•nt 8SS•t# $67 396.276 Cr•dilorn: amounts faling th• wlthln on• year 14 136.15n Net cuyrnnt ass¢t8 545.029 360.119 Not ass•ts 360,119 Charlty lund$ Re5tncted funds 15. 16. 17 15.17 127￿58 321153 18 103.859 121.615 134.645 Unrestricted designated lund¥ Unr￿trICted funds 15.17 Total furtds 360,119 The59 financial stat8m8nt5 have been ￿epared in accordanrR wth the rnw5ion5 applicable to compani¢5 suLiect to the 8mJl ￿mpanIes. reg¥mg and ￿ accordance the wothgons of FRS 1A- Sm￿1 entstiss. The frnancial statements wwe awr0¥￿1 and fry wye by th& Board on 13 D8c•mbw 2023. &9ned on bewf ol lh¢ Board of Tr￿le8s Y.G* Chatr of Trns Thè notès on pagas 13 10 19 lorm part ol these fi.nan￿￿ staIw￿nts. Compary rgJistrati¢)n nurn￿. 48S3073 Shared Interest Foundakn"on - TFUStees' Rewt arKI FinanTreJ Stataments kn the year ￿de(j 30 Septen%)er 2023 page 12 NOTES TO THE FINANCIAL STATEMENTS 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {1.1) Basis of preparntion of financial stalemonts The linanual stalwments have been r*epar&l in ac(¥xd with Accwting and Flepothng by Charttes.. Staten￿l of ReccmtrnThJ8d Practice applicabb to ch￿t￿$ ￿e￿o9 thdr financial StateM￿ts in accordartt the Financial Rewling Standard appl￿b￿ in the UK aThJ of If•land IFRS 1021 l•ff6ctive 1 January 201S- IChariti85 SORP IFRS 10211. the Financial IqeportiThJ StsrwJar¢J in the UK and Republic ol Ireland IFRS 102) and tha Compani89 Act 2006. The linancial statements ar• prepar8d w) st*kng whieh ig the functiona currency ol the charty and r￿nded to the nearest e1. Th8 fin￿cial slat6fflonts we prepwed on going coneern basis as the charity h&8 ¥uffi¢ient fvThJ'wwJ activity to takg It through 2024. Shared Interest Foundation méets th& d&fIn￿l￿)n ol a pu￿4 bw)•fit antity undw FRS I￿2. Ass•ts arvj liatjilities are Trade an(1 otw debt￿S ￿ rwssed at th& Sattl￿nt recognised al histo￿al cost ￿ transactM Value unkn5 )￿In1 ats any tr* disc(￿nt olfwad. pT8paY￿ntS ar8 othenvise stated in the rdevant Foky. ued at amount repa¥J net ol any trtde disc(yJnts duè. (1.2) Company status (1.8) Cash at bank and In hand The company is Iimted by guarantee and has M sh¥e Cash at bank and in hand includes cash aThJ s￿)rt.te1M capital. In thè avent of a winding up avary mambar I￿ul(l investsnents a shc¥t maturity of three months or undertak&s to Contributè such amtyJnt as may ￿ r4uirwJ ss ffom the date of acwistion c* opening of th• dopx)sit or not 8Xce￿lIng the totd of £1. Thwe was on8 m8fflber at 30 smil* aco)unL Septefflbw 2￿23, Shwed Interest 9*x￿tY Ltd. (1.3) Fund accounting R8striCied fund5 arg fu￿15 which are to b8 Uswj i a¢eordaneè with spècffj¢ r0$trici￿>n$ imp088d by (k)nry¥ CK which hav* rd1￿1 by tha eornpany IL¥ WtKular purposes. The costs ol rasing and admini8tWbNJ SLKh fun(ts ar8 charged against th8 sp￿lf￿ lund. Th8 airn use cl each restricted fund is set out in the r￿leS to Ihe linarn￿l $tatement8. Investment incoff¢. gwns and k)sses are located to the fu￿1. 11.41 Income l inwne is recognised once the ￿rnpanY has ￿b"I￿r￿n1 to the incr￿e. it probatA8 that the ￿cOme be receiv& and the amount of income recwvat4e can measure£l reliably. Forlowies, &Thtrtkn￿t is taken 8$ the of the date ¢ vthi¢h eithw: tho Company is aware that probate has granted. the estate ha8 been h"Wised and notrfi¢at￿ has been maee by ihe execthor(sl to the Trust that a distn"bution ¥vlll te made, or when a distributiw is r￿AVed ttte eslate. Rewpt of a legacy. in wh¢Je ¢y in part. is on considered probable when the am(wt can be n￿r￿j reliably and the company has b8•n nobfi•t1 of th• ex•¢utoY's intention to make a dtstribJt¥)n. wo.es have teen notified lo Ihe company, LY the CL¥rpany aware of thè grnniiNJ of probate. and tt* eriteria for KKome recc¥Jnthn havè not m￿. then th8 18gw is trwdt8d as a ￿tl￿t ass•t and disclos￿ il mat•d. Chwrtth expeThJitLtye i￿ludeS trv)s• Co￿5 incurr8d by the chw.ty in the delNw of rts acts"wt￿ and for tis 11 includ•s c05t5 thai alL￿ated dirgctty to ￿ti¥ll¢S those eosts of ￿ iThdireLt naturè rmetmg the Constitution￿ aThJ statutcry requir￿￿entS of th8 Ch￿"ty a￿1 the audrt f86s anL1 costs hnked to th8 (1.6) Interest receivable Inte￿t funds hdd dew*t is SnckM1ed when receivablo KJ the amount ￿ be MWur￿l relithy by the cOr￿any., ths is nomwty upon nolrfration ol the int*r*5t or payable by the ban (1.71 Debtors (1.9) Crediiors and provisions Creditors and wovismms a￿ re¢ognLwJ where the c¢Jnpany has a present 0￿#Jat￿)n resultiro from a past èvènt that will ob*My result in the transtw ol funds to a third party and the ￿OUnt due to settl8 the oblNJation can ba maasuréd or eskn"mated relkabty. Cr￿JIt¢￿S pYovision5 n￿malty rwiised at th&r s6tu8n￿t anKwnt aft8r allowing for ?￿Y traJ• discounts du8. (1.10) Financial instruments The company i)nty has financ￿ ass•ts and linancial liabilit185 ol a ￿"ThJ thai qualrfy as b￿"C finanttk￿ instwm8nt3. instruftwnts *e inilially recogThs6d at transacti e ald subseqLTronUy m8asLwed at their settlemènt value with the exceptw)n of bank loan5 which are subsequ9ntly mea5w￿l al arrM)rb58d cosl the e￿￿￿.¥? interesl 11.11> Cash flow statement The CThwyany has taken advantsg8 ol the exwnption in FRS 1￿2 from the rwuirement to prepare a ¢ash fbw Slate￿nt on thè grouThJs that tt ¢5 a 5rnall company. (1.12) Foreign currency transactions assets and liatx'litie5 denominated in lorevJn I￿rr￿￿185 stat￿￿ in th8 balance sheet at the equivJent v￿ve in sterfirKJ at the exchargg ra19 prevailing a¢ the balance shBet d*e. Transacti￿ dvriro the yew denominated in l(xwgn c￿￿en¢￿¥ we stated at Ihwr &]uwaLgnt value in sterfmig at the exchay rate wewling at the date of th• 11.5) Expenditure Expenditure is recognis•d Wh￿ th8r• is a or constructive oL4igation to make payrneni to a third pty. rt 18 obable that 5ettlemont will be required thè thè obligatitin can ￿ m9￿Jr8d rdiabty. JI expendilure is account*J for on an &cruak tAsis includ8 attributab￿ VAT wh￿h ￿Tr)I be recovered. A expenses Inc1￿j1n9 support costs gOv￿r￿e costs ¥0 located lo th8 apPI￿at￿e exF*nthturg hgadiwwJs. (1.13) Pensions Empbye8s of the F￿rK18t￿ we ￿tit￿d to membership ol the Shwl Intwest (knp Pers￿al P&)sion Pl￿. This is a contritXJti￿ sche￿￿ with 9% of S￿ary payal￿e by the Charity ￿ charpy to the Incr￿e aThJ EM￿nditUr0 Aeo)unt in the year r4atry to salary cost. Share(1 Interest Founaation- Trust£¥s' Report arKI Financil StaterTWt$ for the year en(*d 30 Seplentrr 2023 page 13 NOTES TO THE FINANCIAL STATEMENTS 2. INCOME FROM DONATIONS AND LEGACIES Total T¢)tal Js funds IL4)ds 2023 2tr23 23 2022 t￿lI￿dUal$ 470 213,074 Trusts aJd corwrate 4.379 4J79 3.960 387.202 470 387*72 217,034 In 2022. 01 the totsl income frc4n th)natKY75 legpAie4 6217.(k34 rtlatttF to unrestrfcted funds and twl related to restricted fund8. 3. INCOME FROM CHARITABLE ACTIVITIES Tolal Tot luTh15 lun¢ts lund$ funds 2023 2022 20,OLK) Brian Tawor Fund. SustainatA8 EmF¢)wernt Entwwse DtydoK¥lWt Chades Hayward Fcrtjndatlon . Expansion of Gr¢￿h￿ Fartr Fut￿89 Rwar Evan CLYni$h Foun¢Jati¢M - Se&l to Stan IECFJ Guemsey Overseas Ad & De¥d0pm￿t . Seed lo Stsll IGONJ The mw.Mu￿irHj Tnjst. Coffee Fry Ug￿￿ The Pet¥ StebLw'ngs me￿￿31 Charity. Gtwa S￿"￿$$ F•ming lrrig8t# 120.(MXI 120.000 15,OC B,O(Xl 22.451 21.5(KJ 22,451 21451 6.545 142,451 142ASI 93.496 In 2022. of the Iota Ir￿Me frcffl L*witable &ll￿t*s. £93.4% relalgj to restricled ftm(ts. 4. INVESTMENT INCOME Total To funos fijnds funds 2023 2023 2023 2022 Interest recAved 5.869 5.869 755 755 In 2022. 01 the total investment irKome, £755 relatwl to unrestricted fuThJ& Shared Interest fou￿la1￿￿ . Twstee5' Retmxt and Financia Statements for the year ended 30 Seplemb¥ 2023 Page 14 NOTES TO THE FINANCIAL STATEMENTS 5. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES Totsi To 2022 18.787 2&747 Buil¢*ThJ R&8ili8rKe ol Coffee FrnThr￿ N4rofr*estry 19.7J2 28241 Coff•0 F8m)ing Uganda 12.593 21.7S4 44.922 Dakoro Warehouse Environmenta Proteclk*) aThJ BN)dN 12.394 5.797 1&191 48.380 Expansicffj ol Growlng Faw Futwes Flwanda 713 13.944 57 Growlng F*er Futures Cote 5,gJ7 25,690 Grovlng Fwer Futures Rwaxla 4.201 1.783 18.371 2.497 &419 24.992 IrrprwrwJ LivelihoJds Thrrwgh I￿r0-proceSsirrfj 4.146 Lnielihood Security Fu 1.191 418 7.216 I￿109 Seed to Stsl ECF 5.154 2.￿7 9A01 Seed to Stal GOA 37.199 19￿10 978 26,655 Soilless Fwrnirs- Drip lyrigati 2.466 22.167 10a85 27,244 14.323 8.187 Womon Fn Tr9￿1¢ S88an￿ Farning 14Y2) 7.323 3232 10.083 13,944 Womon in Scsiloss F¥wrning Ghana 16.2 33,357 110,659 119222 IC6262 336.143 323,376 Shared Interest Foun¢Jation- Trustè4s' RapLYt and Finan¢o1 Statements for year endeo 30 September 2023 page15 NOTES TO THE FINANCIAL STATEMENTS 6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Total Total 2tr23 )23 2022 18.787 •747 Building Res[l￿n¢t olcoffee Fam)8rs Thrcwh Wof 28.241 Coffee Fawming iJ9WKla 9.161 12.593 21,754 44.922 D&oro wa￿hC￿tse 3.505 EnvironThntd Prot*ction and BioLfj¥ 18.191 11191 48,380 Expansi￿ ol Grthwng Fairw Future8 Rwanda 7.713 13.944 GrOwi￿j Fwrw Futurgs Cote d'lvoire 5.162 S.￿7 11 25,690 GrowiThJ Farer Futures RwaThJa 18,371 Improvlng Colfe8 PrOd￿tion in Pew 3.419 3N19 24.gY2 ImproviThJ Ls¥dih)ods Through *4wprocwTrJ 13.0 13A 33.994 Li￿￿￿0d Security Fund New proJeLt¥ 10.1(B 10.109 6.2&3 Seed to Stall ECF 4.347 5.154 9￿1 8,550 Seed to Stsll GOA 23.779 37.199 .978 26.655 SoilK8ss Famiing - Drip trrigat￿n S.288 7.5CfJ Slrengthelling C￿ee Prothcer& ReSth￿Ce to (￿mate C*8r 32,552 82￿52 27.244 11.620 14J23 WOM￿ in Nicaragua Ckganic Seswne Fa￿$r9 2,740 10.(*3 13,944 in &Trilless Far￿n9 Ghana 23. 33,357 216.¥21 119.222 .143 323,376 2022, of the tow exF*Nlilurè. e259,7C6 was eX[￿st￿e frc*n w￿￿InCted lund5 *wJ W,670 was èxF*Thh'turfr fr￿ resthcled Iw¢ts. Shared Interest Foun(Jation - Trustees, Report and Financia StatLNnents for Ihe year ended 30 Septemb¥ 2023 page 16 NOTES TO THE FINANCIAL STATEMENTS 7. ANALYSIS OF RESOURCES EXPENDED BY EXPENDrruRE TYPE Total Total %)23 21r22 EXp•1￿11ur• on: Ral$tng funds 14.076 1£ 12.[62 Ch•rltabl• 8¢tlTAti•* Bees lor &J%ness Supwxting (¥owth Through Sotar Érwgy B￿lding Resilwce of Cottee Farrnw5 Thr￿ Coffee Faming Uganda 3.511 252 23.561 747 28.241 21.754 4.451 17. 44.W22 EnWronMent￿ Piotection and 3.070 2.703 2.731 15.121 48.380 Exp8ns*Jn of Growing Fairer Futur8s RwaTrJa GrowirKJ Futures Cote d'lvty"re GrowlrKJ Farer Futures Rwanda Improwng Coffee Pr¢th¢tion in Ponj 18,954 21.657 11.Cth) 25.690 3.775 18,371 24,992 33,994 2201 1218 10.628 4419 13.0 valihc¥)d Sac¥Jrity FurK1 Ngw project$ Seed lo Stall ECF 1.191 418 5213 6.724 10.109 9.S01 e0.978 6,263 8,550 26,655 2.777 Seed to Stsll GOA 51,432 Styllgss Farmry. Drip lThb3at Strewhening Corfee Prc#Yuc8rs Flesllweto Clmalefkn 2.871 27.164 #552 27,244 5.1 20.783 Women in Nicaragua organ￿ Se$&￿ Fwm Wom•n in Sthlless Farrnwng Ghana 1.458 lo.￿3 13,944 33,357 3.7 20,166 271,(M8 .143 323,376 79.171 271,911 351.082 335,438 & SUPPORT COSTS 2022 Office costs i￿luding tra.ning Wages an(18alaries Support sefyices Fxoyljed by ￿ar￿j Interest Sc Marketing costs Governa￿* costs 24726 18.953 20,710 6.690 49,718 11.733 12,590 3.600 93,308 9. NET INCOME / EXPENDITURE Thi9 is stat811 aftar Ch￿INJ. 2022 AJJditoTS' ￿lbTrerat10n {audit s￿) Shar8d Intérest Foundation . Tw5tees' Aewjrt and Financd Stalern￿ts for the yw erK1ed 30 September 2023 pa98 17 NOTES TO THE FINANCIAL STATEMENTS 10. STAFF COSTS Staff co8ts were as fc41ows'. 2022 Wages sala￿$ 88cuTIty Costs Definwy contribut•Jn pensith eosts 7Q437 75.110 2,612 2.557 80.279 Average monthty number tsf emF4oyees of ￿thom ar6 Tnjsteesl thriThJ the yew was: 2022 Number Numb Raising funds C￿t￿le activities No individuJ wrploye8'S 8rn01uments exc8•d¥J t￿.[1x• ye*skn￿. No ￿sion cwtributh)n$ wgre payats￿ by the Foundalion in respect of thg Trustees in *iher ￿ shovm. Thè Trustees neither le¢￿¥*j nc* waived any renIrwatM￿ Ihg ygar P022: Lwif). Thè Tr￿Sta&S thd not havo any èxpans8S r8imbursed chjring the year121Y22: tNill. 11. DEBTORSAND PREPAYMENTS 2022 Prépaymènts $25 9,686 10,211 1877 12. CASH AT BANK AND IN HAND 2022 Cash at bank and in hand 195.876 276.800 195.876 276,800 13. DEPOSITS WITH CREDIT INSTITUTIONS 2022 Deposits repayabk In Tr)t thw th￿ rTr)nths Depo*ts repayab￿ in m￿e th￿ one ye 2¥475 111601 .076 27 109.238 109.265 14. CREDITORS: Amouiifs FALLING DUE WITHIN ONE YEAR 2022 AnYJunts owed io group undertalong$ A￿rUl$ 11310 1Q490 25,985 8,273 Trade u8ditors 36,157 Shared Inte￿st FouThJatK)n- Trustees. Repm aThJ F¥)anco1 Stat￿ents for the year p￿deCI 30 September 2023 page 18 NOTES TO THE FINANCIAL STATEMENTS 15. CHARITY FUNDS Restricted UnrwtsKtgJ Total Toi81 funds 2023 21123 20 127.558 440.271 567 396.276 136.157) 360.119 Cu￿ent liatsliti88 127.558 417.471 In 2tr22, of current ass•ts £103.859 was restrtted and £2¥2.417 ￿￿e U￿eStricted desonated luThts a)d ol Cuff￿1 Ilalilities £36.157 was unrestn.cted and {Jesy￿. 16. RESTRICTED FUNDS Restricted Inco￿ funds Carr￿￿1 forward at end of Ihe financd ye¥e£¥)ywe: 2022 Be8s fc* B￿nasS.. suppC￿￿)g Growth S(4ar En&g Colfee FarrrAng Uganda Expansion of Giovring FaI￿r Futures Rwanda GrowiThJ Farer FulLX8S Cote d'lv(xrg Livelihood Secwty Fund Seed to Stall ECF 1212 20.0 15.076 15.QCQ 19.961 14.054 5.154 10,018 3.992 Seed to Stall GOA 14.730) Soill•sg FamiThJ - Drip IrrwJation Sustw'nable Emwwwrnent Thr￿￿ Entwsg Oevelot*wwl W(¥￿En in Nicaragua seSar￿ Fwmir@ 10&677 7.322 127558 103,859 Th8 rngatNg bdanee on se￿ to Stall GOA re￿*$•nts a w•t8ntion rtltra￿ by ILThJw. (>J8msèy Ov*sea5 ￿'d & Oevebpm￿t, at tha end ol thg proi8et in Odobw 2023. 17. MOVEMENT IN FUNDS Irrnme ExF￿KIrbn Transfer Desb3nation Balance at of funds ￿ September 1 (kt<)ber fvnd$ Unrestricted Income fvnds 134.645 121.615 103.859 393,071 1162,398) P70.1J)O) 270.(￿] 95A18 322.153 127.558 Unrèsirictad dasignat•d fvnds Restricted Incoffe funds 142.921 1119.222) (351.0821 360.119 In 2022 the Trustees deSI￿le￿ a lurthex £42,374 to a i8 wr4J. ￿ Trustees have ¢*swJnated a I￿ther sum of £270,000 at th8 yw-end for other pIC4￿ts. 18. ULTIMATE PARENT COMPANY The vltimat8 parent undertaking and ¢C￿tr￿￿ng party ol Shar&1 Interesl F￿jndation is Shared Interest Society Ltd la Wistw&J So¢lety in the UK. reg4$tratk)n numbw IP27(ts3R) by vwtue of Shar*1 Intwesl Scxiety Ltd b•ng ihe onty rrEmber of the Fovnd*ion. The finan¢i¥J statpxwts ol sh￿ Intwe# Swety Ltd we available from the wister￿1 off￿8 of Shargj Intwest Foundation. as shown ￿ page 3. Shar￿1 Interest foundat￿ - Trustees, ReF#)t and Finanad stat￿￿nIs lor the yeaf 30 September 2023 page 19