Charity registration number 1131854
Company registration number 06724958 (England and Wales)
BIOVERSITY INTERNATIONAL (UK)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
BIOVERSITY INTERNATIONAL (UK)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Lady T Malloch-Brown P S Zuckerman C I S Doimi de Frankopan C G Egerton-Warburton A D Van Den Aardweg
(Appointed 19 June 2024) (Resigned 19 June 2024)
Charity number (England and Wales) 1131854
Company number 06724958 Independent examiner Christopher Bates FCA Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ
BIOVERSITY INTERNATIONAL (UK)
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
BIOVERSITY INTERNATIONAL (UK)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charity’s objectives are:
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To advance research and apply the results of such research into the conservation and use of agricultural biodiversity for the purposes of promoting sustainable development for the benefit of the public in areas around the world where poverty and hunger are widespread by:
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the preservation, conservation and the protection of the environment, with particular regard to the prudent use of varied agricultural resources and techniques appropriate to the local environment;
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the relief of poverty and the improvement of the conditions of health and life in socially and economically disadvantaged communities by encouraging such communities to farm appropriately to their means and raising nutrition levels; and
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the promotion of sustainable means of achieving economic growth and regeneration in the field of agriculture, where such sustainable development meets the needs of the present without compromising the ability of future generations to meet their own needs.
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The advancement of the education of the public in the conservation and use of agricultural biodiversity.
The charity aims to engage and inspire a wide range of philanthropists and private sector partners to fund innovative game-changing research to create a more sustainable, equitable, and inclusive global food system.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Activities
The charity's current activity is to support the Alliance of Bioversity International and CIAT which was set up in 2019 to address climate change, biodiversity loss, environmental degradation and malnutrition. In particular, the charity, in conjunction with Bioversity International USA, seeks to engage and inspire a wide range of partners and funders to fund innovative “moonshot” research programmes for The Alliance and the wider CGIAR network.
Achievements and performance
Significant activities and achievements against objectives
During the year, the Trustees and the Executive Team made notable progress in enhancing the visibility of the Alliance, building key partnerships, and overseeing and processing major grants from current donors.
Fundraising and Strategic Partnerships:
A dual fundraising strategy was adopted: one focused on core running costs through smaller grants and board member contributions, and a second targeting major philanthropic donations requiring longer-term relationshipbuilding.
Two grant proposals were completed by Bioversity International USA: a renewed $500,000 grant for Future Seeds and an additional $200,000 from the Sall Family Foundation for the Alliance’s bean research programme in Africa, and a $6.5 million grant via the Bezos Earth Fund for the tropical forages project.
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BIOVERSITY INTERNATIONAL (UK)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Donor Engagement and Digital Presence
A shortlist of key Ultra High Net Worth individuals and Heads of Foundations continues to be identified and developed with initial meetings being set up followed by introductions to Alliance scientists. This is the core of the “door-opening” strategy. Some updated marketing communications materials were supplied to the Trustees by the Alliance for use in introductory meetings.
To support wider donor engagement, the charity launched a new web page (www.bioversity.org) in May 2024 in collaboration with the Alliance communications team. This is hosted on the Alliance’s main site as a cost-effective alternative to developing an independent website. Additionally, a new donation mechanism was enabled via The Giving Block, allowing small online donations in all currencies (including crypto) to be received.
Strategic Advisor Appointed
The charity welcomed Dr Geoff Hawtin as an informal advisor. A globally respected agricultural scientist and former Director General of both Bioversity International and CIAT, and Winner of the 2024 World Food Prize, Dr Hawtin brings deep technical expertise in agrobiodiversity, genetic resources, and plant breeding, alongside a longstanding familiarity with the CGIAR system. His support in donor and partner meetings is expected to significantly strengthen the charity’s ability to communicate the importance of its scientific mission to external audiences.
High-Profile Events and Advocacy
The charity was a credited partner at major events during London Climate Week in June, including a high-impact session “The Intersection of Food, Technology, Investment, and the Climate Crisis” with Google Cloud, The Food Tank, and other collaborators. Alliance scientists spoke on critical initiatives such as the Periodic Table of Foods Initiative and the importance of seed banks.
The Executive Director initiated a successful engagement with the Earthshot Prize organisation, introducing them to the Alliance's work, including Future Seeds and cutting-edge innovations such as zero-methane rice. As a result, the Earthshot team expressed strong interest in the Alliance’s projects and the possibility of inviting female scientists from the Alliance to strengthen Earthshot’s expert panel representation from the Global South. The conversation opened possibilities for the charity to become an official nominating body.
Seperately, The Alliance’s My Farm Trees project was successfully nominated for the 2025 Earthshot Prize, thanks to trustee links with Project Dandelion and Connected Women Leaders.
Royal Engagement
In September, the Duchess of Edinburgh visited the Alliance’s research programme on climate-resilient beans in Arusha, Tanzania. The visit attracted positive press coverage and was viewed as an important opportunity to raise visibility. During the visit, the Duchess introduced the British High Commissioner to Tanzania, Marianne Young, to the Alliance team — a valuable diplomatic and strategic connection. A briefing paper prepared by the Exectuive Director for the Alliance Board highlighted the potential benefits of royal patronage in terms of global advocacy, international media attention, and high-level access.
Biodiversity COP Engagement
The Board highlighted the success of the Alliance’s presence at the Biodiversity COP 16 in Cali, Colombia in November— welcoming hundreds of visitors to the Future Seeds campus, with scientists speaking at over 100 meetings, and wide visibility in both Blue and Green Zones. The CIAT campus was publicly praised as a “world class facility” by Nestlé’s Global Head of ESG.
Creative Outreach and Awareness
Trustees discussed proposals for artistic collaborations to tell the story of CIAT, biodiversity, and food security through public installations.
Strategic Governance Documents
A revised Memo of Understanding between the Alliance and Bioversity International UK/USA was finalised to affirm mutual commitment and shared purpose.
This was followed by a more detailed Memo of Agreement , signed at the end of the year, establishing a framework for jointly agreed activities. The document outlines the Alliance’s commitment to providing financial support to Bioversity International UK/USA during its early-stage growth, particularly in expanding its supporter base.
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BIOVERSITY INTERNATIONAL (UK)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
The charity was funded during the year by a contribution towards running costs of $220,000 (£171,970) from Bioversity International USA. The charity is seeking donations from UK foundations to cover running costs but further support is available from Bioversity International USA.
The 2024 funding has primarily been spent on staff and travel costs to promote the Alliance leaving a surplus of £40,557 (2023: £45,480) and reserves of £89,504 (2023: £48,947).
Structure, governance and management
The charity is a company limited by guarantee and is governed by its Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Lady T Malloch-Brown P S Zuckerman A D van den Aardweg (Resigned 19 June 2024) C I S Doimi de Frankopan C G Egerton-Warburton (Appointed 19 June 2024)
Recruitment and appointment of trustees
The charity shall maintain between 3 and 7 trustees to include a chair. vice-chair and a treasurer. New trustees may be approved by Ordinary Resolution of the members or by a simple majority of the trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
P S Zuckerman
Trustee
1 September 2025
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BIOVERSITY INTERNATIONAL (UK)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BIOVERSITY INTERNATIONAL (UK)
I report to the trustees on my examination of the financial statements of Bioversity International (UK) (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Christopher Bates FCA
Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ Date: ............................
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BIOVERSITY INTERNATIONAL (UK)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 173,221 | 213,362 |
| Total income | 173,221 | 213,362 | |
| Expenditure on: | |||
| Raising funds | 3 | 10,181 | 3,026 |
| Charitable activities | 4 | 122,483 | 164,856 |
| Total expenditure | 132,664 | 167,882 | |
| Net income and movement in funds | 40,557 | 45,480 | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 48,947 | 3,467 | |
| Fund balances at 31 December 2024 | 89,504 | 48,947 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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BIOVERSITY INTERNATIONAL (UK)
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Net assets The funds of the charity Unrestricted funds |
2024 £ 251 92,010 92,261 (2,757) |
£ 89,504 89,504 89,504 89,504 |
2023 £ 6,189 46,015 52,204 (3,257) |
£ 48,947 |
|---|---|---|---|---|
| 48,947 | ||||
| 48,947 | ||||
| 48,947 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 1 September 2025
P S Zuckerman
Trustee
Company registration number 06724958 (England and Wales)
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BIOVERSITY INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Bioversity International (UK) is a private company limited by guarantee incorporated in England and Wales. The registered office is .
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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BIOVERSITY INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 173,221 | 213,362 |
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BIOVERSITY INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
3 Expenditure on raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising and publicity | ||
| Fundraising agents | 3,034 | 3,026 |
| Other fundraising costs | 7,147 | - |
| 10,181 | 3,026 |
4 Expenditure on charitable activities
| Direct costs Staff costs Travel costs Office costs Communications costs Share of support and governance costs (see note 5) Governance Analysis by fund Unrestricted funds |
2024 £ 108,866 7,799 1,711 - 118,376 4,107 122,483 122,483 |
2023 £ 86,080 58,573 5,049 4,320 |
|---|---|---|
| 154,022 10,834 |
||
| 164,856 | ||
| 164,856 |
The charity's sole charitable activity is to support the Alliance of Bioversity International.
5 Support costs allocated to activities
| Support costs allocated to activities | ||
|---|---|---|
| Governance costs Governance costs comprise: Audit fees Accountancy Legal and professional |
2024 £ 4,107 2024 £ 2,500 1,247 360 4,107 |
2023 £ 10,834 |
| 2023 £ 3,000 1,380 6,454 |
||
| 10,834 |
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BIOVERSITY INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 6 | Net movement in funds | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | 2,500 | 3,000 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year. Trustee travel expenses amounted to £7,799 (2023: £45,037) for all four trustees.
8 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs The number of employees whose annual remuneration was more than £60,000 is as follows: £80,001 to £100,000 |
2024 Number 1 2024 £ 100,000 7,545 1,321 108,866 2024 Number 1 |
2023 Number 1 |
|---|---|---|
| 2023 £ 81,250 3,949 881 |
||
| 86,080 | ||
| 2023 Number 1 |
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Debtors
| Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| Amounts falling due within one year: | £ | £ |
| Other debtors | 251 | 6,189 |
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BIOVERSITY INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
11 Creditors: amounts falling due within one year
| 11 Creditors: amounts falling due within one year |
||
|---|---|---|
| Other taxation and social security Other creditors Accruals 12 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2024 £ 307 257 2,193 2,757 2024 £ 1,321 |
2023 £ - 257 3,000 |
| 3,257 | ||
| 2023 £ 881 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
13 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 General funds Previous year: At 1 General funds |
January 2024 Incoming resources Resources expended At 31 December 2024 £ £ £ £ 48,947 173,221 (132,664) 89,504 January 2023 Incoming resources Resources expended At 31 December 2023 £ £ £ £ 3,467 213,362 (167,882) 48,947 |
|---|---|
14 Related party transactions
The charity was funded during the year by a donation of $220,000 (£171,970) from Bioversity International USA which also operates in conjunction with the charity to support the Alliance of Bioversity International. Lady Malloch Brown and P S Zuckerman are also trustees of Bioversity International USA.
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