2021-12-31-accounts - Rainforest Foundation UK

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Company Registration Number 07391285 Charity Registration Number 1138287

THE RAINFOREST FOUNDATION (UK) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE RAINFOREST FOUNDATION (UK)

INDEX TO THE REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page no

Administrative information

Report of the trustees

Report of the auditors

Statement of financial activities

Balance sheet

Statement of cash flows

Notes to the financial statements

THE RAINFOREST FOUNDATION (UK) OFFICERS AND PROFESSIONAL ADVISERS AS AT 31 DECEMBER 2021

Trustees

Mr J Howes (Interim Chair, 16 March 2021 — 17 March 2022) Ms L Claridge (Appointed Chair, 17 March 2022) Dr L Erskine Prof R Coward Mr D Morgan Miss Josceline Cluff Ms O Owczarek Mr R Poore Ms S Natt Mr S Hoyte

Executive Director	Mr J Eisen
Registered office	2-4 The Atelier
	The Old Dairy Court
	17 Crouch Hill
	LONDON
	N4 4AP
Company number	07391285
Charity number	1138287
Bankers	CAF Bank
	25 Kings Hill Avenue
	Kings Hill
	West Malling
	KENT
	ME19 4JQ
Solicitors	Bates Wells
	10 Queen Street Place
	London
	EC4R 1BE
Auditor	Goldwins Limited
	Chartered Accountants
	75 Maygrove Road
	West Hampstead
	London
	NW62EG

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THE RAINFOREST FOUNDATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report along with the financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the charity's Trust Deed, the Charities Act 2011, 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 2015).

Reference and administrative details of the charity, its trustees and advisers

The Rainforest Foundation (UK), registered charity no. 1138287 is based at The Rainforest Foundation (UK), 2 —4 The Atelier, The Old Dairy Court, 17 Crouch Hill, London, N4 4AP, United Kingdom.

The board of trustees throughout 2021 were: Mr Joseph Howes (Chair), Dr Louise Erskine (Vice Chair), Mr Robert Poore (Treasurer), Prof Rosalind Coward, Mr David Morgan, Miss Josceline Cluff (Safeguarding Trustee), Ms Lucy Claridge, Ms Olga Owczarek, Ms Sharon Natt, Mr Simon Hoyte.

The Executive Director is Mr Joe Eisen. The Programmes are managed by Ms Ana Osuna Orozco, the Finances by Ms Emily Hodge and Operations by Mr Alastair Burr.

Structure, Governance and Management

The trust is an incorporated trust, constituted under Articles of Agreement and incorporated on 29 September 2010 and is a registered charity, number 1138287, (company number 07391285). The charity acquired all the assets and liabilities of the unincorporated trust, the Rainforest Foundation (UK) (charity number 801436), with effect from 1 January 2011.

The trustees are appointed by the board and may serve for a maximum of three-year terms not exceeding in aggregate nine years but trustees must be re-elected by the Board of Trustees after each three-year term to continue serving as a trustee. The Articles of Association provide for a minimum of three trustees and up to a maximum of twelve. The trustees convene for a minimum of four board meetings per year (either in person or remotely) where they agree on and monitor the trust's strategy and activities, including consideration of geographical areas of intervention, grant-making, education, and campaigning activities as well as performance in these areas.

The day-to-day administration of grants and other operational matters is delegated to the Executive Director and specialist staff. The board keeps the skills requirements for the trustee body under review. New trustees may be sought by open advertisement or through a dialogue with candidates in relevant sectors. The ultimate decision on selection is a matter for the board of trustees. When new trustees are appointed, they are given an introduction to the work of the trust and provided with the information they need to fulfil their roles in accordance with charity law.

The trustees who held office during the financial year and at the date of this report are set out on page two. The trust has its headquarters in London. It has a number of partner organisations in tropical forest countries with whom it cooperates to deliver its programmes.

The Rainforest Foundation (UK) is part of a small ‘family’ of independent organisations, which includes Rainforest Foundations USA and Norway. These organisations, whilst sharing the same mission and objectives, are fully autonomous in terms of funding and governance.

Risk management

The foundation operates a risk management strategy. This consists of the maintenance of a risk register, which lists and rates major risks — including operational, governance, fundraising and finance as well as travel and countrylevel risks - according to their likelinood and severity of impact, and sets out appropriate mitigation measures. The register is kept under constant review by the Executive Director and also by the trustees at each board meeting to ensure that adequate systems and procedures are in place to manage the identified risks.

Status: The Rainforest Foundation (UK) is an international non-governmental, non-political, non-religious organisation.

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THE RAINFOREST FOUNDATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The Articles of Association define the charity's objects as being:

(1) to conserve or assist in the conservation of the rainforests of the world; including all flora, fauna, rivers, waterways and other natural resources therein;

(2) to advance the education of the general public in the need to conserve the rainforests and other natural resources of the world and the balance of such resources for the long-term benefit of the human race and all other living things therein;

(3) to relieve sickness amongst the inhabitants of the rainforests, including but without limitation, by assisting such inhabitants to access local healthcare services;

(4) to advance the education of the said inhabitants including but without limitation in the field of health and the environment.

Mission Statement

The mission of the Rainforest Foundation (UK) is to support indigenous peoples and traditional populations of the world's rainforests in their efforts to protect their environment and fulfil their rights to land, life and livelihood by assisting them in:

e Securing and controlling the natural resources necessary for their long term well-being and managing these resources in ways which do not harm their environment, violate their culture or compromise their future.
e Developing means to protect their individual and collective rights and obtain, shape and control basic services from the state.

Activities

The activities carried out by the charity during the period can be broadly categorised into the following strategic themes:

Tackling the threats to forests and forest communities

RFUK tackles forest destruction by investigating and exposing its underlying causes, by supporting community-led monitoring of forests, by building partnerships for change, and by promoting the transparency and accountability of governments, international institutions and companies to improve practices.

Land and resource rights

RFUK addresses communities’ lack of control over forest lands by supporting them to map, secure and sustainably manage these areas. At the national and international levels, we campaign for changes in laws and policies that protect rainforests and their inhabitants.

Indigenous peoples’ rights and social inclusion

RFUK works with partner NGOs and indigenous peoples’ organisations to help forest communities realise their rights to lands and resources, to free, prior and informed consent (FPIC) and to self-determination. All of our programmes are developed on the basis of ‘full participation’ to ensure that communities are able to set their own priorities with special attention paid to the participation of marginalised groups such as women.

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THE RAINFOREST FOUNDATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Approach

The charity delivers its charitable objectives in two ways:

(1) through direct delivery using its own staff, especially for technical and project management support, information and policy activities; and,
(2) through partner organisations, involving substantial support to increase local capacity in the design and implementation of projects.

The latter constitutes the greater part of the expenditure. It also ensures that the Foundation’s work is firmly rooted in local knowledge and expertise. The Foundation has found from experience that this approach delivers maximum impact, efficiency and value to the beneficiary groups.

2021 Activities, Achievements and Performance

Our work in 2021 spanned seven countries; the Democratic Republic of Congo (DRC), Republic of Congo (RoC), Central African Republic (CAR), Cameroon, Ghana, lvory Coast and Peru.

As with the previous year, our operating context was significantly impacted by Covid-19 and restrictions placed on travel and fieldwork. However, thanks to the dedication of staff, partners and the forest communities we work with, we were able to have a significant impact in several key areas.

Our community forest work made several important strides. In DRC, where RFUK and our local partners campaigned for years for community forest legislation that enables them to gain collective control over their lands, we are spearheading efforts to mainstream this model in the country. In Equateur and North Kivu provinces, we supported ten communities with a population of more than 25,000 people to sustainably manage their concessions. At the national level, we continued to support implementation of the national community forest strategy and won commitments from the government and international donors to increase the national area under community forest management to five million hectares - an area more than twice the size of Wales. This work was supported by USAID and Norad as part of a five-year programme as well as with grants from the Turing Foundation and Synchronicity Earth to support development of the national community forest database and deforestation monitoring respectively.

In CAR, despite serious civil unrest, RFUK and our partners were able to keep community forests on the national agenda, including by supporting the first ever requests for community forests in the country. Through the innovative “Farmer Field Schools” approach, we are also supporting communities to improve their food production by testing different agricultural techniques for crops such as cassava, corn or squash on communal plots of land to enhance food security, soil quality and forest cover. This work was supported by the Rainforest Fund.

In Peru, with the support of the Good Energies Foundation and the Belvedere Trust, we continued to support the UN Equator Prize-winning indigenous cocoa cooperative Kemito Ene. This work aims to increase sustainable practices and production systems of 200 farmers in 13 Ashaninka communities.

We continued the roll out of our ForestLink forest monitoring system in Peru, Cameroon, DRC, RoC and Ghana and expanded it to a new country, the Ivory Coast. The programme, which aims to improve forest governance by equipping forest communities with simple, low-cost technologies to send real-time illegal logging alerts, has enhanced the detection and enforcement of illegal logging in the target areas, leading to several seizures of illegal timber, improved royalty payments for local communities and a landmark court case among other impacts. The UK Foreign, Commonwealth and Development Office’s Forest Governance Markets and Climate programme (FCDOFGMC) funded the work in Central Africa and Ghana. In the Ivory Coast this was supported by IDEF/FAO and in Peru by the Waterloo Foundation and Fondation Ensemble.

There were also several important research, policy and campaign activities carried out over the year. In the run up to COP26, RFUK coordinated an international campaign involving 45 Congolese and international NGOs, the scientific community and over 100,000 citizens to stop the imminent lifting of the national logging moratorium in DRC that threatened some of the last intact tropical forests on earth. While tackling direct threats to the Congo Basin forests, RFUK also conducted important research into the underlying drivers of deforestation, particularly the role of infrastructure development and so-called selective logging.

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THE RAINFOREST FOUNDATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

2021 Activities, Achievements and Performance (continued)

Our sustainable conservation and human rights campaign made significant strides over the past year, and was instrumental in one of the biggest shake-ups of international biodiversity conservation in decades. We continued to support communities affected by coercive conservation enforcement in the Salonga and Lomami National Parks in DRC with funding from the Tikva Grassroots Empowerment Fund and the Arcus Foundation. We also co-ordinated an ongoing international campaign to ensure that the UN-led post-2020 global biodiversity framework contains sufficient provisions for the rights of local and indigenous communities and tackles the underlying causes of biodiversity loss.

RFUK has continued to shine a light on ‘false solutions’ to climate change that delay urgent action in the Global North and penalise indigenous peoples and other local communities least responsible for this crisis. While drawing attention to the risks of problematic offsetting schemes, we have pushed for climate policies that put forest communities at their heart. Following our extensive consultation of civil society in the provinces, the DRC government agreed to put community forests as a key pillar of its revised nationally determined contribution (NDC) to the Paris Climate Accord.

Partnerships

RFUK is not a grant-making organisation. We enter into partnership agreements with other organisations in order to downstream funds and implement projects and campaigns. All local partners are fully autonomous organisations with their own financial management and governance structures. The contractual agreement is determined through close dialogue between RFUK programme staff and potential partners. Partnership agreements are monitored with strict financial controls and due diligence procedures, in line with the Foundation’s internal guidelines and requirements.

Programme staff usually visit the offices of partners and potential partners and periodically monitor field activities on the ground (although travel was restricted in 2021 due to Covid-19) as well as maintaining regular communication with them. Partners are required to provide regular narrative and financial reports on project activities.

Fundraising

The Foundation aims to establish a diverse funding base of institutional donors, charitable trusts and foundations, and individual givers. The charity is also open to support from the corporate sector subject to ethical review. Our fundraising mix is reviewed regularly according to a range of factors including charitable needs, likely return on investment and projected levels of free reserves.

Fundraising approach - 2021 sawa significant drop in the number of fundraising approaches we could employ due to the Covid-19 pandemic. This led to a withdrawal of fundraising in public spaces, particularly through community events. However, we were very grateful for the overwhelming support we received from our loyal supporter base through other channels, such as digital ones, and from corporate partnerships, and trusts and foundations. This allowed us to continue to deliver our services during a very tough year.

Fundraising standards - We are members of the Chartered Institute of Fundraising (IOF) and the Fundraising Regulator, and as such abide by the Code of Fundraising Practice. We abide by the Fundraising Regulator's Fundraising Promise, and strive to ensure our fundraising is open, honest, legal and respectful. In line with our undertaking signed with the Information Commissioner's Office (ICO), we operate an ‘opt-in’ model of freely given, specific, informed, unambiguous consent for contact, whether that be via email, post or the telephone.

Fundraising on our behalf - We engage members of the public via digital channels, such as social media and through emails, discussing ways in which they can support us, appropriately and proportionately. We require any professional fundraising agencies working on our behalf to adhere to our fundraising standards and this is enshrined in contracts with them.

We work with a number of strategic corporate partners who support our work through financial donations, as well as employee fundraising. We also receive one-off support from companies, as unsolicited donations. Some of our corporate partners sell goods or services and donate a proportion of the sale price to us. These arrangements are

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THE RAINFOREST FOUNDATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Fundraising (Continued)

governed by legal agreements in line with current consumer and charitable law. Our corporate partnerships are also subject to our ethical policy and each corporate partner will go through a stringent due diligence process before a partnership is entered into.

Monitoring of fundraising activities and protecting people in vulnerable circumstances - We have a set of standards and principles that we require all professional fundraisers working on our behalf to adhere to when delivering fundraising campaigns online.

The Charity does not tolerate the use of language or behaviours that intentionally mislead or seek to unduly influence people, or the use of subterfuge or misrepresentation. We are committed to making sure all fundraising engagements adhere to the guiding principles of the Code of Fundraising Practice in being legal, open, honest and respectful.

We are committed to ensuring that we treat the public sensitively and respectfully at all times, taking special care to protect people who may find themselves in vulnerable circumstances.

Our staff induction process for those involved in fundraising contains a section dedicated to making fundraisers aware of the signs of potential vulnerability in anyone they speak to on our behalf, as well as the steps we expect them to take on the rare occasions when they do have concerns.

This approach has been developed in consultation with the charity safeguarding staff and is in line with the requirements of the Charities (Protection and Social Investment) Act 2016, the Mental Capacity Act 2005, as well as with the IOF's Treating Donors Fairly guidance, and the Direct Marketing Association's Guidelines for Dealing with Vulnerable Consumers.

Complaints - We're always sorry to receive complaints relating to our fundraising, as we're keen for all our supporters to have a positive experience engaging with us. We understand, of course, that some of our activity may invite expressions of dissatisfaction, which we will always record in order to improve our fundraising. Complaints, however, will only be recorded when there has been a potential or actual breach of the fundraising code, a lapse in our high standards, or a concern raised where an investigation has been instigated. In 2021, we received 0 such complaints.

Communications

Our communications outputs were largely delivered with the support of design agencies who support the development and maintenance of our three websites (rainforestfoundationuk.org, mappingforrights.org and forestlink.org) as well as our publications and other materials. This has enabled us to maintain the high quality of our communications, web presence and outreach to decision-makers, supporters and members of the public. We also secured some very good media coverage, notably for our sustainable conservation and DRC logging moratorium campaigns and in the run up to COP26, as well as several big programme features in major international outlets.

Operations

We created a dedicated Operations Manager position to enhance our internal systems, compliance processes and HR processes, and refreshed the board of trustees, broadening its skill base in key organisational areas and increasing trustee numbers.

Financial review

Restricted fund main sources:

Foreign, Commonwealth & Development Office (FCDO) £481,690 US Agency for International Development (USAID) £436,126 Norwegian Agency for Development Cooperation (Norad) £423,288 Arcus Foundation £142,930 Rainforest Fund £51,654

Unrestricted fund main sources: Donations and legacies £280,370 Fundraising events £17,349

Direct charitable expenditure accounts for 96% of total organisational expenditure.

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THE RAINFOREST FOUNDATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Investment and reserves

Reserves

The total value of our reserves is £573,519

The reserve of restricted funds, £291,246 is held solely for projects expenditure.

The unrestricted funds reserve is £282,273. Unrestricted reserves are held as funds for the organisation’s core costs. The charity’s policy, which is reviewed on a yearly basis, is that unrestricted reserves should not normally fall below £220,000, which is approximately three months of recurrent expenditures. The charity considers it is a going concern as debts are able to be paid as they fall due and the 12-month forecast shows a positive situation.

The charity generally has too little long-term reserves to make investments possible. Any fund reserves are generally held in a short notice deposit account, where they generate limited returns. The charity holds no investment property. Any gains from foreign exchange movements or interest on short-term banking of project grants are reinvested in support of the objectives of the grant, where required by the donor.

The main reason for holding reserves is to ensure that the charity has enough resources to guarantee that our programmes can be supported through to their conclusion or passed on in an orderly mannerto another organisation. It is the Foundation’s policy never to commit funds that it does not have, and most project funding is therefore committed only when there are guaranteed long term (almost always external) sources to support it. The restricted funds held by the charity are only kept for as long as is necessary to organise the use of the funds.

Thanks

We offer special thanks to all the following organisations and individuals, who gave us more than £2,000 each: UK Foreign, Commonwealth and Development Office (FCDO); US Agency for International Development (USAID); Norwegian Agency for Development Cooperation (Norad); Rainforest Fund; Samworth Foundation; Arcus Foundation; Fondation Ensemble; Good Energies Foundation; Turing Foundation; Synchronicity Earth; Tikva Grassroots Empowerment Fund; Size of Wales; Initiatives pour le Developpement communautaire et la conservation de la Forét (IDEF); The Cotmore Trust; Langdale Trust; The Reed Foundation; The Ericson Trust; The Oakdale Trust; Martin Wills Wildlife Maintenance Trust; Helen and Michael Brown Charitable Trust; The Bryan Guinness Charitable Trust; Open Gate; Souter Charitable Trust; Staines Preparatory School; Laniakea Continuum; Ticket Tailor; Mr Anthony Monck; Mrs Marie-Louise Alemany Durham.

The charity was fortunate to receive a residuary legacy gift from the estate of Mrs Joyce Challis.

We would also like to offer our sincere thanks to the hundreds of individual donors, fundraisers and volunteers that supported our work over the year.

Plans for the Future

RFUK is finalising a strategic plan that will provide clear guidance for all levels of our work until December 2025. This will take into account the progress achieved in implementing the previous plan and brings together the programmes strategy with the supporting fundraising, communications and operational elements of the plan.

Our programmes work will focus on legal and policy reforms in favour of community land rights; increasing community control over and access to forests through community forests and other means; supporting strong community governance, sustainable livelihoods and land-use planning; promoting rule of law and empowering civil society organisations; promoting scaled up climate, biodiversity and ODA funding for indigenous and locally-led forest protection; countering extractive interests and other threats to tropical forests as well as challenging ‘false solutions’ to these threats.

Public Benefit

The trustees have complied with section 17 of the 2011 Charities Act, having due regard for the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives.

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THE RAINFOREST FOUNDATION (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of Responsibilities of the Trustees

The trustees (who are also directors of The Rainforest Foundation (UK) for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the incoming resources and application of resources, of the charitable companyfor that period. In preparing these financial statements, the trustees are required to:

e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP 2015 (FRS 102); e make judgements and estimates that are reasonable and prudent;
e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

e there is no relevant audit information of which the charitable company’s auditor is unaware; and
e the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

ON BEHALF OF THE BOARD:

Mr J Howes

Date: 30 March 2022

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE RAINFOREST FOUNDATION (UK) FOR THE YEAR ENDED 31 DECEMBER 2021

Opinion

We have audited the financial statements of The Rainforest Foundation (UK) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

e give a true and fair view of the state of the charitable company’s affairs as at 31 December 2021 and of its income and expenditure for the year then ended:
e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
e have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevantto our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

e the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
e the trustees’ report (incorporating the directors’ report) have been prepared in accordance with applicable legal requirements.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE RAINFOREST FOUNDATION (UK) FOR THE YEAR ENDED 31 DECEMBER 2021

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

e adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
e the financial statements are not in agreement with the accounting records and returns; or
e certain disclosures of trustees’ remuneration specified by law are not made; or
e we have not received all the information and explanations we require for our audit.

Responsibilities of the trustees

As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

e We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
e We inspected the minutes of meetings of those charged with governance.
e We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
e In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE RAINFOREST FOUNDATION (UK) FOR THE YEAR ENDED 31 DECEMBER 2021

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

A WH omy Epton

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

Date: 7 April 2022

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THE RAINFOREST FOUNDATION (Uk) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021

				2021	2020
		Unrestricted	Restricted	Total	Total
	Note	Funds	Funds	Funds	Funds
		£	£	£	£
Income from:
Donations and legacies		280,370	-	280,370	302,764
Events and other income		17,349	-	17,349	18,367
Charitable activities	3	-	1,745,281	1,745,281	1,619,799
Investment income	4	49	-	49	287
Total income		297,768	1,745,281	2,043,049	1,941,217
Expenditure on:
Raising funds	5	37,126	7,000	44,126	32,202
Charitable activities	6	151,700	1,790,631	1,942,331	1,787,197
Other	7	23,838	5,000	28,838	25,417
Total expenditure	8	212,664	1,802,631	2,015,295	1,844,816
Net income for the year		85,104	(57,350)	27,754	96,401
Other gains/(losses)		5,996	-	5,996	1,095
Transfers between funds		(3,834)	3,834	-	-
Netmovement in funds	9	87,266	(53,516)	33,750	97,496
Reconciliation of funds:
Total funds brought forward		195,007	344,762	539,769	442,273
Totalfundscarriedforward	17	282,273	291,246	573,519	539,769

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above.

The attached notes form part of these financial statements.

Page | 12

THE RAINFOREST FOUNDATION (UK) BALANCE SHEET AS AT 31 DECEMBER 2021

		2021		2020
	Note	£	£	£	£
Fixed Assets:
Tangible fixed assets	12		3,034		7,514
Investments	13		-		2
			3,034		7,516
Current Assets:
Debtors	14	243,891		80,394
Cash at bank and in hand		564,463		740,500
		808,354		820,894
Creditors: Amounts falling due within
one year:	15	(77,869)		(88,641)
Net Current assets			730,485		732,253
Creditors: Amounts falling due in more
than one year:	16		(160,000)		(200,000)
Total net assets			573,519		539,769
Reserves:
Unrestricted funds			282,273		195,007
Restricted funds			291,246		344,762
	20		573,519		539,769

Approved by the Board of Trustees on 30 March 2022 and signed on its behalf by:

Joseph Howes Trustee

Company registration no. 07391285

Page | 13

THE RAINFOREST FOUNDATION (UK) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Note|2021|2021|2020|2020| |£|£|£|£| |Net|cash|provided|by|/|(used|in)|operating|activities|18|(176,086)|444,669| |Cash|flows|from|investing|activities:| |Interest|income|49|287| |Sale/|(purchase)|of|fixed|assets|-|(2,315)| |Cash|provided|by|/|(used|in)|investing|activities|49|(2,028)| |Change|in|cash|and|cash|equivalents|in|the|year|(176,037)|442,641| |Cash|and|cash|equivalents|at|the|beginning|of the|year|740,500|297,859| |Cash|and|cash|equivalents|at|the|end|of the|year|19|564,463|740,500|

----- End of picture text -----

Page | 14

THE RAINFOREST FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
d) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Restricted funds are funds which the funder has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

Designated funds are unrestricted funds set aside by the Trustees for particular purposes.

Page | 15

THE RAINFOREST FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Accounting policies
g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
e Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
e Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. Support costs are allocated between cost of raising funds and charitable activities.

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Computer and office equipment 4 years straight line

Computer and office equipment 4 years straight line Fixtures and fittings 5 years straight line

j) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

I) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page | 16

THE RAINFOREST FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Detailed comparatives for the statement of financial activities

			2020	2020	2020
			Unrestricted	Restricted	Total
			Funds	Funds	Funds
	Income from:		£	£	£
	Donations and legacies		302,764	-	302,764
	Events and other income		18,367	-	18,367
	Investment income		287	-	287
	Charitable activities		-	1,619,799	1,619,799
	Total income		321,418	1,619,799	1,941,217
	Expenditure on:
	Raising funds		32,202	-	32,202
	Charitable activities		267 ,836	1,519,361	1,787,197
	Other		23,087	2,330	25,417
	Total expenditure		323,125	1,521,691	1,844,816
	Net income / (expenditure) for the year		(1,707)	98,108	96,401
	Other gains/(losses)		(1,210)	2,305	1,095
	Transfers between funds		(503)	503	-
	Net movement in funds		(3,420)	100,916	97,496
	Reconciliation of funds:
	Total funds brought forward		198,427	243,846	442,273
	Total funds carried forward		195,007	344,762	539,769
3.	Income from charitable activities			2021	2020
		Unrestricted	Restricted	Total	Total
		£	£	£	£
	Grants and project income	-	1,745,281	1,745,281	1,619,799
		-	1,745,281	1,745,281	1,619,799
4.	Income from investments			2021	2020
		Unrestricted	Restricted	Total	Total
		£	£	£	£
	Bank interest	49	-	49	287
		49	-	49	287

Page | 17

THE RAINFOREST FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. Raising funds

				2021	2020
		Unrestricted	Restricted	Total	Total
		£	£	£	£
Salary	costs	28,530	7,000	35,530	20,872
Other	costs	8,596	-	8,596	11,330
		37,126	7,000	44,126	32,202

Other costs consist of communications and media, management and office, and the costs associated with staging events and participating in various fund raising events, such as the London Marathon.

6. Charitable activities

				2021	2020
		Unrestricted	Restricted	Total	Total
		£	£	£	£
Project	activities	7,743	1,078,954	1,086,697	975,075
Project	support costs	143,957	711,677	855,634	812,122
		151,700	1,790,631	1,942,331	1,787,197

7. Other

Other
			2021	2020
	Unrestricted	Restricted	Total	Total
	£	£	£	£
Salary costs	16,398	5,000	21,398	17,717
Trustees’ expenses	148	-	148	-
Payroll and professional fees	2,165	-	2,165	2,516
Audit fees	5,127	-	5,127	5,184
	23,838	5,000	28,838	25,417

All the above costs, included in ‘other’, are the governance costs of the charity. The salary costs are apportioned based on time spent. The remaining costs are the actual amounts. The governance costs have been met through restricted funds, as agreed by funding providers through their inclusion of ‘core costs’ in the respective budgets.

8. Total Expenditure

Total Expenditure
	Staff	Other	2021	2020
	costs	costs	Total	Total
	£	£	£	£
Raising funds	35,530	8,596	44,126	32,202
Charitable activities	708,425	1,233,906	1,942,331	1,787,197
Other	21,398	7,440	28,838	25,417
	765,353	1,249,942	2,015,295	1,844,816

Page | 18

THE RAINFOREST FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Net income / (expenditure) for the year This is stated after charging / (crediting):

Net income / (expenditure) for the year This is stated after charging / (crediting):
	2021	2020
	£	£
Operating lease rentals: Property	71,643	57,792
Depreciation	5,149	5,149
Auditorsremuneration	5,127	5,184

Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

	2021	2020
	£	£
Salaries and wages	677,532	637,082
Social security costs	63,676	61,823
Pension costs	24,145	25,393
	765,353	724,298

One of the employees received employee benefits (excluding both employer's NIC and pension contributions) between £60,000 - £69,999 during the year. The total employee benefits including Employer's NIC and pension contributions of the key management personnel were £213,134 (2020: £234,333).

None of the trustees received any remuneration during the year (2020: none). There were trustees’ meeting expenses of £148 in the year (2020: Nil).

The average number of employees (head count based on number of staff employed) during the year was 19 (2020: 19).

11. Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Page | 19

THE RAINFOREST FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Tangible fixed assets

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Office|Fixtures|and|2021|2020| |equipment|fittings|Total|Total| |£|£|£|£| |Cost| |At|the|start|of the|year|27,530|21,016|48,546|46|232| |Additions|in|year|-|-|-|2,314| |Disposals|in|year|(1,005)|-|(1,005)|-| |At|the|end|of the|year|26,525|21,016|47,541|48,546| |Depreciation| |At|the|start|of the|year|26,347|14,685|41,032|35,883| |Charge|for|the|year|835|3,645|4,480|5,149| |Eliminated|on|disposal|(1,005)|-|(1,005)|-| |At|the|end|of the|year|26,177|18,330|44,507|41,032| |Net|book|value| |At|the|end|of the|year|348|2,686|3,034|7,514| |At|the|start|of the|year|1,183|6,331|7,514|10,349|

----- End of picture text -----

All of the above assets are used for charitable purposes.

13. Investments

The investments represents a 100% shareholding in the Rainforest Foundation Trading Company Limited. The company was dissolved on 20 April 2021.

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |14.|Debtors| |2021|2020| |£|£| |Prepayments|25,209|24,089| |Accrued|income|194,843|36,805| |Other|debtors|23,839|19,500| |243,891|80,394| |15.|Creditors:|amounts|falling|due|within|one|year| |2021|2020| |£|£| |Bank|loans|and|overdraft|40,000|-| |Trade|creditors|15,785|27,245| |Taxation|and|social|security|19,090|15,381| |Other|creditors|1,024|45,918| |Deferred|income|1,970|97| |77,869|88,641|

----- End of picture text -----

Deferred income represents amounts received in advance for the events due to take place in next financial year

Page | 20

THE RAINFOREST FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Creditors: amounts falling due after one year

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Bank|loans|160,000|200,000| |160,000|200,000| |The|bank|loans|are|secured|against|the|charity's|assets.|

----- End of picture text -----

17. Analysis of net assets between funds

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds|funds| |£|£|£| |Tangible|fixed|assets|3,034|-|3,034| |Net|current|liabilities|439,239|291,246|730,485| |Long|term|liabilities|(160,000)|-|(160,000)| |Net|assets|at|the|end|of the|year|282,273|291,246|573,519| |Unrestricted|Restricted|Total| |Analysis|of|net|assets|between|funds|2020|funds|funds|funds| |£|£|£| |Tangible|fixed|assets|7,516|-|7,516| |Net|current|liabilities|387,491|344,762|732,253| |Long|term|liabilities|(200,000)|-|(200,000)| |Net|assets|at|the|end|of the|year|195,007|344,762|539,769|

----- End of picture text -----

18. Reconciliation of net income / (expenditure) to net cash flow from operating activities

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Net|income|/|(expenditure)|for|the|reporting|period|33,750|97,496| |(as|per|the|consolidated|statement|of financial|activities)| |Depreciation|4,480|5,149| |Interest|received|(49)|(287)| |(Increase)/|decrease|in|debtors|(163,495)|99,336| |Increase/|(decrease)|in|creditors|(50,772)|242,975| |Net|cash|provided|by|/|(used|in)|operating|activities|(176,086)|444,669|

----- End of picture text -----

19. Analysis of cash and cash equivalents

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |At|the|start|Other|At|the|end| |of the|year|Cash|flows|changes|_|of the|year| |£|£|£|£| |Cash|at|bank|and|in|hand|740,500|(176,037)|-|564,463| |Total|cash|and|cash|equivalents|740,500|(176,037)|-|564,463|

----- End of picture text -----

Page | 21

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