2021-12-31-accounts

Contents			Page
Reference and administrative		details ofthe Charity, its trustees and advisers
Trustees' report			2 —6
Independent auditors'	report		7 —9
Statement offinancial	activities		10
Balance sheet
Cash flow statement			12
Notes to the financial	statements		13-22

Key Management	Key Management	Key Management	Personnel:
Trustees				B N'Doumi (Chairman)
				R Bourgoin
				M Coffi Studer
				SJ P Coulibaly
				M A Djira Linger
				I Herbinger
				M Egnankou
				V N'Douba
				VJ Nembelessini-Silue
Executive		Manager		N'Golo Fanny
Company		number		07057365
Charity	number			1137836
Registered		office		10, Queen Street Place
				London
				EC4R 1BE
Bankers/Investment			advisers	Fiera Capital
				Corporation Fiera Capital
				1501,Avenue	McGill College
				Bureau 800, Montreal (Quebec),
				Canada H3A 3M8
Auditor				Azets Audit Services
				2"' Floor Regis	House
				45 King William	St
				London EC4R	9AN
Solicitors				Bates Wells &	Braithwaite
				10, Queen Street Place
				London
				EC4R 1BE

						Endowment	Restricted	Total	Total
						Fund	Funds	Funds	Funds
					Note	2021	2021	2021	2020
Income
Incoming resources		from generated		funds:
Voluntary income						323,168	28,087	351,255	16,275
investment income							612,322	612,322	723,586
						323,168	640,409	963,577	739,861
Total income
Expenditure
Raising funds							132,347	132,347	114,811
Grants in furtherance		of	the charitable
objectives						2,662,438		2,662,438	3,348,622
Other costs						2,940	76,516	79,456	133,608
Total expenditure						2,665,378	208,863	2,874,241	3,597,041
Net gain/ (loss) on	disposals of investment
assets					10	2,183,634		2,183,634	(130,404)
Net income /(expenditure)						(158,576)	431,546	272,970	(2,987,584)
Other recognised	gains/(losses):
(Losses)/ Gains on foreign currency
investments					10	(153,417)		(153,417)	1,996,445
Net movement in	funds		for the year			(311,993)	431,546	119,553	(991,139)
Total funds at 1 January			2021			29,488,345	7,361,484	36,849,829	37,840,968
Total funds at 31	December 2021				13	29,176,352	7,793,030	36,969,382	36,849,829

				2021	2020
		Note
Fixed assets
Investments		10		35,387,599	36,136,436
Current assets
Debtors		11	28,457		28,087
Investments		10	1,628,033		761,133
			1,656,490		789,220
Creditors; amounts	falling due
within one year		12	(74,707)		(75,827)
Net current assets				1,581,783	713,393
Net assets				36,969,382	36,849,829
Charity funds
Endowment fund		13		29,176,352	29,488,345
Restricted fund		13		7,793,030	7,361,484
				36,969,382	36,849,829

				Note	2021	2020
Net cash flow from operating activities				16	(2,761,342)	(3,580,387)
Cash flows from investing activities
investment income					612,322	723,586
Proceeds from sale of investments					18,497,595	12,797,285
Purchase of investments					(15,481,675)	(12,183,438)
Net cash used in investing	activities				3,628,242	1,337,433
Change in cash and cash equivalents		in the	year		866,900	(2,242,954)
Cash and cash equivalents	at the beginning		ofthe year		761,133	3,004,087
Cash and cash equivalents	at the end of		the year		1,628,033	761,133
Cash and cash equivalents	consist	of:
Cash held with investment	managers			10	1,628,033	761,133
Cash held with custodians				10

Investment	income
			Endowment		Restricted		Total	Total
				Fund		Funds	Funds	Funds
				2021		2021	2021	2020
								6
Dividends	and interest
—foreign listed investments						612,322	612,322	723,586
In 2020 all	ofthe investment		income was attributable	to the	restricted	fund.
Raising Funds
			Endowment		Restricted		Total	Total
				Fund		Funds	Funds	Funds
				2021		2021	2021	2020
				6				6
Investment	management	fees				132,347	132,347	114,811

			Endowment	Endowment	Restricted	Restricted	Total	Total
				Fund		Funds	Funds	Funds
				2021		2021	2021	2020
					6	6	6	6
Foundation	for the Parks and Reserves of
Cote d'Ivoire		(FPRCI)	2,662,438				2,662,438	3,348,622
In 2020, all of the grants approved			were attributable	to the	endowment	fund.
Other costs
			Endowment		Restricted		Total	Total
				Fund		Funds	Funds	Funds
				2021		2021	2021	2020
								6
Accountancy		costs				18,087	18,087	1,012
Audit remuneration						10,000	10,000	8,500
Trustees fees				2,940			2940
Interest fees						3,954	3,954	1,532
Custody fees						44,197	44,197	69,031
Professional		fees						53,447
Other general		expenses				278	278	86
				2,940		76,516	79,456	133,608

Not	es to the fi	nancial s	tatements for th	e year ende	d 31 Decembe	r 2021
11.	Debtors
							2021	2020
	Prepayments and accrued income						28,457	28,087
12.	Creditors:	Amounts	falling due within	one year
							2021	2020
	Accruals						74,707	75,827
13.	Statement	of
	funds
			Brought	Incoming	Resources	Gains/	Transfers	Carried
			Forward	Resources	Expended	(losses)		Forward
	Endowment	funds
	Tai National Park
	sub-account		6,294,809	6,766	(1,087,990)	789,120		6,002,705
	Comoe	National
	Park sub-account		8,270,343	12,686	(759,710)	502,369		8,025,688
	Azagny	Sangbe
	National Parks sub-		10,270,502		(658,946)	609,380		10,220,936
	account
	Tai-Sapo	Corridor
	sub-account		4,633,724		(69,477)	109,697		4,673,944
	Banco sub-account		18,967	303,716	(89,255)	19,651		253,079
			29,488,345	323,168	(2,665,378)	2,030,217		29,176,352
	Restricted	funds
	Ta'i National Park
	sub-acco unt		5,261,993	198,038	(62,804)			5,397,227
	Comoe	National
	Park sub-account		1,149,042	150,227	(54,650)			1,244,619
	Azagny	Sangbe
	National Parks sub-		673,062	188,121	(58,517)			802,666
	account
	Tai-Sapo	Corridor
	sub-account		265,960	74,417	(26,466)			313,911
	Banco sub-account Other restricted		(440)	1,519	(6,426)			(5,347)
	funds		11,867	28,087				39,954
			7,361,484	640,409	(208,863)			7,793,030
	Total offunds		36,849,829	963,577	(2,874,241)	2,030,217		36,969,382

Analysis	ofnet assets between	funds
		Endowment	Restricted	Unrestricted	Total
		Fund	Funds	Funds	Funds
		2021	2021	2021	2021
Fixed asset investments		29,176,352	6,211,247		35,387,599
Current	assets		1,656,490		1,656,490
Creditors	due within one year		(74,707)		(74,707)
2021		29,176,352	7,793,030		36,969,382
Analysis	ofnet assets between	funds —Prior year
		Endowment	Restricted	Unrestricted	Total
		Fund	Funds	Funds	Funds
			2020	2020	2020
Fixed asset investments		29,488,345	6,648,091		36,136,436
Current assets			789,220		789,220
Creditors	due within one year		(75,827)		(75,827)
		29,488,345	7,361,484		36,849,829

Reconcilia activities		tion of n	et movem	ent in funds to net cash fl	ow from operating
					2021	2020
Net income					(119,553)	(991,139)
(Gains) on		investments			(2,030,217)	(1,866,041)
Investment		income			(612,322)	(723,586)
(Increase)		/decrease	in debtors		(370)	3,697
Decrease	/	(increase)	in creditors		1,120	(3,318)
Net cash flows from operating				activities	2,761,342	3,580,387