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2021-06-30-accounts

			Page
Trustees and	advisors
Report of the	Trustees		2 —6
Independent	auditors'	report to the members	7 —10
Statement of	financial	activities
Balance sheet			12
Statement of	cashflows		13
Notes to the financial statements			14 —23

Trustees		Professor Melchior	Professor Melchior	Professor Melchior	Mlambiti	Mlambiti
		Henry Moshi (deceased				14June 2021)
		Dr Wilhelm Mafuru
		Godlove Stephen		(appointed			4 January 2022)
Company	number	05785598
Registered	charity number	1116617
Registered	office	St Ann's Wharf
		112Quayside
		Newcastle Upon Tyne
		NE13DX
Business address		P0 Box3004
		Moshi
		Tanzania
Auditors		Saffery Champness			LLP
		St Catherine's	Court
		Berkeley Place
		Clifton
		Bristol
		BS81BQ
Bankers		CRDB Bank Limited
		P0 Box 1302
		Moshi
		Tanzania
Solicitors		Womble Bond	Dickinson			(UK) LLP
		3Temple Quay
		Temple Back East
		Bristol
		BS16DZ
Investment	managers	Quilter Cheviot	Investment				Management
		One Kingsway
		London
		WC2B 6AN

				Notes	Unrestricted	Endowment	2021	2020
					funds	funds	Total funds	Total funds
						S	S	S
Income from:
Investments						70,416	70,416	89,244
Interest					611	14	625	1,927
Total					611	70,430	71,041	91,171
Expenditure	on:
Charitable	activities				112,171		112,171	530,963
Investment	management					17,199	17,199	18,495
Total					111,171	17,199	129,370	549,458
Net gains/(losses)		on
investments						1,013,182	1,013,182	(122,158)
Net income/(expenditure)					(111,560)	1,066,413	954,853	(580,445)
Transfers between			funds		329,096	(329,096)
Net movement in		funds			217,536	737,317	954,853	(580,445)
Total funds	brought		forward		502,874	3,502,852	4,005,726	4,586,171
Total funds	carried		forward		720,410	4,240,169	4,960,579	4,005,726

				Notes	2021	2020
Fixed assets:					S	5
Investments					4,259,281	3,521,760
Tangible assets					11,139	10,971
					4,270,420	3,532,731
Current assets:
Debtors					718,933	358,248
Cash at bank and	in	hand			40,342	157,958
					759,275	516,206
Liabilities:
Creditors: amounts		falling	due
within one year					{69,116)	{43,211)
Net current assets					690,159	472,995
Total net assets					4,960,579	4,005,726
The funds ofthe charity:
Endowment funds					4,240,169	3,502,852
Unrestricted funds					720,410	502,874
Total charity funds				10,11	4,960,579	4,005,726

						Notes	2021	2020
Cash used in operating	activities:						S	5
Cash generated from /	(used in)		operations				(374,689)	(870,761)
Interest paid							(1,914)	(2,489)
Net cash provided by/	(used in)		operating		activities		(376,603)	(873,250)
Cash flows from investing		activities:
Purchase oftangible fixed		assets						(7,430)
Purchase of investments							(747,363)	(485,186)
Proceeds from the sale	of	investments					1,065,541	1,238,397
Net cash provided by investing			activities				318,178	745,781
(Decrease) in cash and	cash equivalents			in	the year		(58,425)	(127,469)
Foreign exchange differences							5,115	14,856
Cash and cash equivalents		at the beginning			ofthe year		331,417	444,030
Cash and cash equivalents		at the end of		the year		14	278,107	331,417
Analysis ofnet debt
						At 1July		At 30June
						2020	Cashflows	2021
Cash						157,958	(117,616)	40,342
Cash equivalents (note	6)					173,459	64,306	237,765
						331,417	(53,310)	278,107

				2021	2020
Wages and	salaries			67,486	281,514
Seminars, workshops and			conferences		1,315
Coffee crop	improvement		research		13,906
Coffee seedlings multiplication					112,576
Coffee crop	production				18,388
Bank charges				1,914	2,489
Motor running costs					40,675
Office costs					8,379
Depreciation				1,430	1,033
Loss on foreign currency		fluctuations		(6,713)	(14,856)
Repairs and	maintenance				2,316
Partnership	development	costs			9
Governance	costs (note 3)			48,054	63,219
				112,171	530,963

				2021	2020
AGM and	progress	review meetings		14,712	27,214
Audit fees				24,528	28,711
Legal and	professional		fees		7,294
Company	secretarial			8,814
				48,054	63,219

Investments
		Total endowment	Total endowment
		funds	funds
		2021	2020
		5	S
As at 1July 2020		3,521,760	4,615,597
Additions		747,364	485,186
Disposals		(1,065,541)	(1,238,397)
(Loss)/gain	on
currency fluctuations		(153,553)	(19,021)
(Loss)/gain	on investments	1,144,946	(87,464)
Movement	on cash accounts	64,306	(234,141)
Balance at	30June 2021	4,259,282	3,521,760
Investments	at market value comprised:
		Total endowment	Total endowment
		funds	funds
		2021	2020
		S	S
Fixed interest securities		495,269	747,366
Equities		3,064,191	2,370,118
Alternative	investments	462,059	230,817
Cash and cash products		237,763	173,459
		4,259,282	3,521,760

Tangible fixed ass	ets
		Laboratory	Farm	Office	Total
		equipment	equipment	equipment
Cost
At 1July 2020		6,990	3,552	7,563	18,105
Additions
At 30June 2021		6,990	3,552	7,563	18,105
Depreciation
At 1July 2020			2,134	5,000	7,134
Charge for the year		622	213	595	1,430
Other adjustments	in the year	63	(874)	(787)	(1,599)
At 30June 2021		685	1,473	4,808	6,966
Net book value
As at 30June 2021		6,305	2,079	2,755	11,139
As at 30June 2020		6,990	1,418	2,563	10,971

		2021	2020
Other	debtors	718,933	358,248

	2021	2020
Trade creditors		4,058
Other creditors	31,582	2,508
Accruals	37,534	36,645
	69,116	43,211

	Balance	Incoming	Resources	Transfers	Gain/(Loss) on	Balance
	1July 2020	resources	expended	between funds	investments	30June 2021
	S	S		S	S	S
Unrestricted
funds	502,874	611	(112,171)	329,096		720,410
Endowment
funds	3,502,852	70,430	(17,199)	(329,096)	1,013,182	4,240,169
	4,005,726	71,041	(129,370)		1,013,182	4,960,579

alysis of net	assets between funds
		Unrestricted	Endowment
		funds	funds	Total
Investments	and fixed assets	11,139	4,259,281	4,270,420
Debtors		712,663	6,269	718,932
Cash at bank	and in hand	40,342		40,342
Creditors		(43,734)	(25,381)	(69,115)
		720,410	4,240,169	4,960,579

13	Reconciliation ofnet movement	in funds to	net cash flow from operating	net cash flow from operating	activities
					2021	2020
	Net movement in funds				954,853	(580,445)
	Adjustments for:
	Depreciation charges				1,430	1,046
	(Gains) / losses on investments			(991,393)		106,485
	Interest charged				1,914	2,489
	Foreign currency translation differences				(6,713)	(14,856)
	Decrease/(increase) in debtors			(360,685)		(343,456)
	Increase / (decrease) in creditors				25,905	(42,024)
	Net cash provided by / (used in) operating		activities	(374,689)		(870,761)
14	Analysis ofcash and cash equivalents
					2021	2020
	Cash at bank and in hand				40,342	157,958
	Cash held as part offixed asset	investments			237,765	173,459
	Total cash and cash equivalents				278,107	331,417

omparative	stateme		nt offinancial	activities
				Unrestricted	Endowment	2020
				funds	funds	Total funds
Income from:
Investments					89,244	89,244
Interest				607	1,320	1,927
Total				607	90,564	91,171
Expenditure	on:
Charitable	activities			530,963		530,963
Investment	management				18,495	18,495
Total				530,963	18,495	549,458
Net gains/(losses)		on
investments					(122,158)	(122,158)
Net income/(expenditure)				(530,356)	(50,089)	(580,445)
Transfers between			funds	1,061,271	(1,061,271)
Net movement in		funds		530,915	(1,111,360)	(580,445)
Total funds	brought		forward	(28,041)	4,614,212	4,586,171
Total funds	carried		forward	502,874	3,502,852	4,005,726