## ||||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|