## |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|