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2022-05-31-accounts

IN 50 Greenshoots FOUNDATION reenshootsfoundation.or

Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

Green Shoots Foundation

(A Charitable Incorporated Organisation)

Report and Financial Statements

Year ended 31[st] May 2022

Registered charity number: 1138412

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

CONTENT

Pages Reference and Administrative Details ……………………………………………………….4 Report of Trustees.………………………………………………………………………….5-10 Independent Examiner’s Report.……………………………………………………….…….11 Statement of Financial Activities …………………………………………………………….12 Balance Sheet ………………………………………………………………………………….13 Notes to the Financial Statements…………………………………………………….….14-18 Summary of Charitable Activities and Impact.……………………………………….….19-23

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Green Shoots Foundation

Charity number: 1138412 Principal Office: 183-189 The Vale, London W3 7RW

Registered Address: 183-189 The Vale, London W3 7RW

Bankers: HSBC, 8 Canada Square, London, E14 5HQ Website: www.greenshootsfoundation.org

Trustees:

The Trustees of the charitable company (the “Charity”) are its trustees for the purpose of Charity Law and throughout this report are collectively referred to as the Trustees.

The Trustees serving for the year and since 31[st] May 2022:

Mr Achim Kram Mrs Deborah Hutchinson – Head of Audit & Finance sub-committee Mrs Maria Largey, Chairperson Mr David Ruiz Dr Nathalie Dang, co-Chairperson Prof Jurgen Rockstroh Mrs Elisabeth Selk Mr Tim Gledstone Mr Olivier Gazay

Operations Manager: Ms Muneezay Jaffery

Secretary: Mr Jean-Marc Debricon.

Name: On 11[th] June 2021, the Charity was approved for conversion into a Charitable Incorporated Organisation (CIO) and was therefore renamed “Green Shoots Foundation”.

Independent Examiner: Seema Siddiqui, FCA, Charles William & Siddiqui , 183-189 The Vale, Acton London, W3 7RW

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

REPORT OF TRUSTEES

YEAR ENDED 31[st] MAY 2022

The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 31[st] May 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to 11 of the accounts and comply with the Charities Act 2011; The 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)’ (as amended for accounting periods commencing from 1 January 2016).

Structure, Governance and Management

Governing Document:

Green Shoots Foundation is a charitable incorporated organisation (incorporated on 3rd June 2010) and governed by its Memorandum and Articles of Association. It is registered as a charity with the Charity Commission and registered as a CIO on 11[th] June 2021. Anyone over the age of 18 can become a member of the CIO subject to application to and approval by the Trustees. In the event of the company being dissolved, members are required to contribute an amount not exceeding £10.

Green Shoots Foundation’s Vision:

“A world in which all people live in dignity and security and are able to provide for their families.”

Green Shoots Foundation’s Mission:

“The prevention or relief of poverty through the implementation in greater Asia or Africa of holistic and sustainable development programmes combining economic empowerment with access to education and/or medical aid.”

Green Shoots Foundation’s Values:

Our core values drive our work and are central to our decision-making processes. We aim to align the programmes we establish and any partnerships we build with our social mission and core values. Our core values are:

Passion for social change, Integrity, Respect, Compassion, Fair Practice, Transparency, Innovation, Best Practice Project Management, Sustainability, Measurability.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

REPORT OF TRUSTEES - continued

Appointment of Trustees

As set out in the Articles of Association a new Trustee may be appointed by ordinary resolution of the Company. Trustees are elected annually by the members of the Charity attending the annual general meeting (“AGM”) and serve for a period of two years. All members are circulated with invitations to nominate Trustees prior to the AGM advising them of the retiring Trustees and requesting nominations for the AGM.

Trustee induction and training

The existing Trustees were made aware of their legal obligations under Charity, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the Charity upon incorporation of the company. The existing Trustees advise that all new Trustees should take a course before joining to ensure that they are up to date with the latest regulations and requirements for trustees.

Organisation

The board of Trustees (the “Board”), currently made up of 9 Trustees but which can have up to 15 members, administers the Charity. The Board holds a video conference call with slides every 3 months (or more if needed) and meets once a year if allowed under COVID rules. Trustees are expected to take active participation in the running of the Charity and in the running of its projects, including networking, fundraising and event organising. The Chairperson chairs the meetings of the Board. The Head of the Audit & Finance sub-committee signs the accounts and annual reports prepared by the Secretary. The Operations Manager, under the supervision of the Board, develops the strategy of the Charity and manages its day-to-day operations with the support of the Secretary.

Related parties

Jean-Marc Debricon, Founder and first CEO of the Charity, currently Secretary, is also trustee and Chairman of Children of the Mekong, a UK charity affiliated to Enfants du Mekong, which is also a local implementation partner of the Charity. As trustee of Children of the Mekong, he does not receive any remunerations of any kind.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

REPORT OF TRUSTEES - continued

Risk management

The Charity has a risk management strategy that comprises:

Securing strategic resources:

In this eleventh year of operations, the global COVID pandemic had a profound impact on the Charity, including but not limited to its fundraising and to the running of its operations.

The Charity’s programmes have always enjoyed different funding sources, 100% private but fairly diversified between events, online campaigns, grants from trusts and foundations and donations from High Net Worth Individuals (HNWI) as well as continued pro bono from a number of corporates and professionals. However, since the beginning of the COVID pandemic in 2020 and its successive lockdowns/rules/restrictions, the channels for these funding sources dried up due to i) the inability to organize physical fundraising events, ii) the inability to welcome volunteers into our Agritech centre, iii) the inability to travel and deliver our workshops, and iv) the increased competition amongst charities for reduced funding resources from trusts and foundations.

The Charity reached a total income of just under GBP67,000 which remains under the audit threshold of GBP250,000. Given our business model based on low overheads, sustainable operations and local partnerships, we expect that this will remain the preferred size for the charity. Our 2022 income is 25% lower than in 2021, which was already 40% lower than in 2020. New funding routes are being explored such as corporate sponsorships and launching a technical assistance service line for the AgriTech Centre.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

REPORT OF TRUSTEES - continued

Financial Review

The Charity started the financial year with excess funds brought forward and, after a charitable expenditure just above GBP74,000, has ended the year with a relatively stable cash balance of just under GBP38,000. This higher cash balance should allow the Charity to face the expected continued funding shortfalls linked to COVID in the next financial year. Plans have been made to source additional funds through new initiatives including but not limited to i) online events and other fundraising activities requiring no physical events, no travelling, ii) the incorporation of our sister organization in Cambodia, Green Shoots Resources Organization, a fully registered Khmer NGO, which should take over the funding of the FASE programme in Cambodia, iii) the delivery of technical assistance missions by the Charity and by Green Shoots Resources Organization, and iv) corporate sponsorships for the Charity.

Given the continuous depreciation of the GBP vs USD, we have been and are still seeking charitable grants denominated in USD.

Principal Funding Sources

The principal funding sources were as follows:

Each private and company donation is confirmed by the donor as unrestricted or restricted and then designated accordingly by the Operations Manager for a country of operation or a specific project.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

REPORT OF TRUSTEES - continued

Investment Policy

The funds received are held in currency current accounts at an interest rate negotiated by the Operations Manager with the Bankers. This has proved suitable where the funds have been disbursed towards the projects within a short time of receipt. However, funds earmarked for longerterm projects that have not been disbursed are invested in a higher interest-bearing account. For the avoidance of doubt, given the current volatile markets, the Operations Manager will not seek higher risk products and will restrict the cash management to term deposits with the Bankers (currently, HSBC Bank plc).

Any funds surplus to a designated project will be used for the continued maintenance or further improvement of the project or allocated to another project at the discretion of the Trustees.

Because of the weakening of the GBP against the dollar, the Charity has focused on sourcing more USD funds in order to reduce its FX risk for USD denominated charitable expenditure.

Reserves Policy

Due to a payment mistake made by one of our major donors in 2018 and the Brexit-caused depreciation of the GBP vs USD, our Reserve was fully lost by year end 2018. COVID did not allow us to rebuild the Reserve but, thanks to the Furlough plan, we managed to maintain a favourable cash balance and plan to build it up in the coming years.

Plans for future periods

The Charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. It is essential to diversify sources of funding and build sustainable activities through increased volunteering and crowdfunding.

Disclosure of information to auditors

Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

Independent Examiner

A resolution proposing that Charles William & Siddiqui be reappointed as independent examiner of the Charity will be put to the members.

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Re￿rta￿al Statoments. Yearendad 31st May 2022 REPORT OF TRUSTEES - continued Trustees. res nsibilities in relation to the financial statsments Charity law requires the Trustees to prepare finan(ial statements for each financial year that give a true and fair Mew of the state of the affairs of the charitable company as at the balance she8t date and of tls ino)ming rv60urces and application of resources, induding incorne and expenditure, for the financial year. In preparing those financial statements, the managem8nt committee should follow best practice and: Select suttable accounting Fdicies arKI then ￿lY them ￿nsISten0y. Make judgements and estimates that are reasonable and prudent" and Prepare the finan(aal statements on the going concem basis unless it 18 InapprOp￿ate to assume th8t the ￿H￿panY will continue on Ihat basis and Slate whether applicable UKAccounting Standards have been followed. subject to any material departures disclosed and explained in the accounts. The Trustees are responsible for maintsining proper accounting records that disdose with reasonable accuracy at any time the financial s))sition of the Charitable company and to enable them to ensure that the finanual ststements t￿lplY th8 Charities Act 2011 (Ihe 2011 Acr) and the CIO Regulations 2012. The Trustees are also wponsible for safeguarding the assets of the charitable company and hents for takiry reasonable steps for the prevention and detection of fraud and other Irregulariknes. The Trustees of the Charity are listed on page 3. Tlw guarantee to contribute an alr￿Unt not exceeding GBP1 in the event of winding up. The total number of SUL* guarant88 at 31th May 2022 was 9. On behalf of the board of trustees Name.. Deborah HUTCHINSON TIUe: Trustee, Head of Audit and Finance Sub Commtttee Charity Registration Number. 1138412 th Dats: 16 March 2023 10

Report and Financial Statements - Year ended 3151 May 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREEN SHOOTS FOUNDATION LIMITED We report on the accounts of the Charity for the period ended 31 sl May 2022. which are sel out on page 12 to 23. Respecllve responsibilities of Trustees and examlner The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is nol required for this period under section 144121 of the Charities Act 2011,11he 2011 Act.), and that an independent examination is needed. Having satisfied myself that the charity is not subject lo audit under Part 16 of the Company Act 2006 and is eligible for independent examination. it 15 our responsibility.. 1. To examine the accounts under section 145 of the 2011 Ad.. 2. To follow the procedures laid down in Ihe General Directions giv8n by Ihe Charity Commission under section 14515llbl of the 2011 Act., and 3. To slate whether particular matters have come to our attention. Basis of independent examlnor's report Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.11 a￿0 includes consideration of any unusual items or disclosures in the accounls. and seeking explanations from you as Iruslees concerning any such matters. The procedures undertaken do nol provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters sel out in the statement below. Independent examinèr's stalement al In connection with my examination, no matter has ¢cMne to my attention., Which gives me reasonable cause lo believe that in any material respect Ihe requirements.. To keep accounting records in accordance with section 130 of the 2011 Act., and li. To prepare accounts which accord with the accounting records. comply with the accounting requirements of the 2011 Act have not been met or.. (b) To which, in our opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. CLI,, lAJ,￿,_ e &JLo. March 2023 183-189 The Vale. Acton London. W3 7RW Charlos William & Siddiqui Limited

Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

STATEMENT OF FINANCIAL ACTIVITIES INCOME STATEMENT YEAR ENDED 31st MAY 2022

GBP
N
o
t
e
Incoming
Resources
Voluntary Income
2
Other Incoming
Resources
3
Total incoming
Resources
Resources
Expended
Charitable
Expenditure
4
Cost of Charitable
Activities
5
Fees Paid
Governance Costs
Total Resources
Expended
Opening Balance
Net (outgoing)
/Incoming Resources
before transfers
Transfers between
funds
FX gain (loss)
Closing Balance		 Year Ended 31st May 2022
Year Ended
31st May 2021
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
45,529
21,065
66,594
88,693
0
0
0
0
45,529
21,065
66,594
88,693
40,094
22,011
62,105
77,844
10,729
0
10,729
11,404
143
0
143
905
1,126
0
1,126
2,340
52,092
22,011
74,103
92,492
(6,180)
(6,563)
0
239
(12,504)
51,439
(946)
0
50,493
45,259
(7,509)
239
37,988
49,711
(3,800)
(653)
45,259

The statement of financial activities includes all gains and losses recognized in the year. All incoming resources and resources expended derive from continuing activities.

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Rewtand Financial Statem￿. Year ended 31•1 May 2022 BALANCE SHEET ASA T31stMAY2022 GBP Note As at31"May As at31"May 2022 2021 Currenl assets Cash at bank and In harKI 37.988 45.259 Not assets 37,988 45,259 The funds of the ¢haiity Unrestricted income funds Restricted income funds Total ¢harity funds 37,988 37.988 45,259 45,259 The notes at pages 13 to 17 form part of these accounts The CIO is entitled to the eXernpti￿ from the audTI requiretnent ¢￿taIned in section 144 of the Charities Act 2011 ar)d Section 1Q of the CIO Regulations 2011, for the year ended 31 May 2022. The direclors acknowledge their resp[￿sibIlitieS for ensuring that the company keeps accounting records which comply with section 160 of the Act and Section 8 of the CIO Regulations and for preparing acwunts which give a true and fair view of the state of affairs of the company a5 at the end of the finanaal year and of tls incoming ￿SoUrceS and application of resources. including its income and expenditure. for the financial year. These accounts have been prepared in accordance ￿fjth the special pn)visions relatsng to CIOS in the Charity Act 2011 and CIO Regulations of 2012. The accounts were approved by the Board on 16 March 2023. Signed Deborah HUTCHINSON Name: Deborah HUTCHINSON Title: Trustee, Head of Audlt and Finance Sub Commtiiee Charity Registration Number. 1138412 13

Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31[st] MAY 2022

1. Accounting policies

Charity information

Green Shoots Foundation is a CIO. The registered office is 183-189 The Vale, London W3 7RW.

1.1. Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charity Act 2011, CIO Regulations 2012 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value.

The principal accounting policies adopted are set out below.

1.2. Going concern

At the time of approving the accounts, there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the charity continues to adopt the going concern basis of accounting in preparing the accounts.

1.3. Charitable funds

Unrestricted funds are available for use at the discretion of the in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4. Incoming resources

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.

Legacies are recognised on receipt or otherwise if this has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

1.5. Resources expended

Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered and is reported as part of the expenditure to which it relates. Governance costs comprise of those costs associated with meeting the constitutional and statutory requirements of the charity and include bank charges and other bank related expenses. Due to projects being abroad, in order to meet the objectives of the charity, funds are received and disbursed in foreign currency, thus incurring bank charges. These have therefore been included under governance costs as it is an integral part of the running of the charity to receive and disburse funds.

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.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2. Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the charity are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

3. Trustee’s Remuneration

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

4. Employees

There was 1 employee during the year (2021: 1 employee).

5. Foreign Currency Translation

Funds are held in one of three currency accounts, depending on origin of the donation: GBP, USD and EURO. USD and EURO funds are used for disbursements in these currencies, to avoid FX exposure. For the purposes of the report and financial statements, USD and EURO funds were reported at the appropriate FX rates as at 31[st] May 2022. As of that date, 90% of the funds were held in GBP and 10% in USD. By 31[st] May 2022, an FX gain of GBP239 was recorded.

6. Voluntary Income

GBP Year ended 31st May 2022 ended 31st May 2022 Year ended 31st
May 2021
GBP Unrestricted Restricted Total Total
Donations from individuals 7,756 6,540 14,296 11,075
Grants from foundations 5,400 14,525 19,925 40,118
Gift Aid 8,373 0 8,373 0
Pro bono offices 0 0 0 2,500
Pro bono legal and accounting
services,
designing,
engineering		 24,000 0 24,000 30,000
Otherpro bono services 0 0 0 5,000
Total 45,529 21,065 66,594 88,693

7. Charitable Expenditure

Split by programme:

GBP Year Ended 31st May Year Ended 31st May 2022 Year Ended 31st
May 2021
Unrestricted Restricted Total Total
ELSE 13,365 9,234 22,598 28,328
FASE 13,365 12,777 26,142 31,065
MAME 13,365 0 13,365 18,452
Others 0 0
Total 40,094 22,011 62,105 77,844

All pro bono services are accounted for at their fair market value.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

NOTES TO THE FINANCIAL STATEMENTS - continued

Split by country of operations:

GBP Year Ended 31st May
2022		 Year Ended 31st May
2021
Expenditure Expenditure
India 22,598 23,328
Cambodia 26,142 31,064
Philippines 0 0
Myanmar (Burma) 13,365 18,452
Kyrgyzstan 0 0
Vietnam 0 0
Others (Ethiopia) 0 0
Total 62,105 77,844

8. Cost of Charitable Activities

GBP Year Ended 31st
May 2022
Year Ended 31st May
2021
Expenditure
Expenditure
Travel expenses 541
458
Event expenses 0
206
Website 0
0
Salaries 10,189
10,412
IT & Communications 0
297
Misc 0
0
Total 10,729
11,404

The average number of employees during the period was: 1.

There were no employees whose annual remuneration was GBP 60,000 or more.

A pension plan is running for the employee of the Charity.

9. Trustee remuneration and Related Party transactions

None of the Trustees of the Charity received any emolument in the period; there is one full time employee of the Charity. No Trustee or other person related to the Charity had any personal interest in any contract or transaction entered into by the Charity during the year.

None of the Trustees received any monies from the Charity as reimbursement of expenses incurred for the Charity.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

NOTES TO THE FINANCIAL STATEMENTS - continued

10. Analysis of net assets between funds

GBP As at 31st May 2022 As at 31st May 2022 As at 31st May 2022 As at 31st May
2021
Unrestricted
Funds		 Restricted
Funds		 Total Funds Total Funds
Current Assets
Miscellaneous funds
Restricted Funds
(ELSE, FASE, MAME, BMA)		 0 37,988 0
37,988		 0
45,259
Net Assets at 31st May 0 37,988 37,988 45,259

Purpose of Designated Funds:

Miscellaneous Funds : These funds have been designated by the Trustees for the undertaking of several projects in our countries of operations.

ELSE : These funds have been designated by the Trustees for the undertaking of “Education Loans and Social Entrepreneurship” (ELSE), a microfinance/educationsocial entrepreneurship project in the slums of Delhi, India and soon in Nepal.

FASE : These funds have been designated by the Trustees for the undertaking of “Food & Agriculture and Social Entrepreneurship” (FASE), an environmental/educationsocial entrepreneurship project in rural provinces of Cambodia and the Philippines. MAME : These funds have been designated by the Trustees for the undertaking of “Medical Assistance & Medical Education” (MAME), a microfinance/education/medical aid project in Vietnam, Myanmar and Kyrgyzstan. BMA : These funds have been designated by the Trustees for the undertaking of the “Bart Mauldin Award” (BMA), an annual education award for a deserving student in the developing world. RESERVES : The funds have been designated by the Trustees as reserves for current expenses or unexpected expenses and in the absence of any other available funds.

11. Material Legacies

Legacy income is only included in incoming resources where the legacy has been received or both the receipt and the amount are known with sufficient certainty. As at 31st May 2022, the Charity had no legacy income.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

SUMMARY OF CHARITABLE ACTIVITIES AND IMPACT

During May-June 2021 Green Shoots Foundation celebrated its 10 year anniversary through a series of online events (in line with COVID restrictions prevalent at that time). Events were split into five main days focusing on programs, partners, and the final day on volunteering. The events were well-attended with an average viewing of 15 people. We also collected feedback from twelve of our partners on their satisfaction with Green Shoots over the years. The results were as follows:

We are pleased to see all our partners score us high on transparency, adaptability, and recommending our work to other local organisations. We can identify three new partners acquired in 2021/2022 for our FASE initiatives:

Activities being conducted with them are explained in the section below. An area for improvement identified in the survey was innovation and adaptability. We feel COVID 19 lockdowns and our response to those has been a true test of our ability to adapt and respond to changing circumstances- particularly those not in our control.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

SUMMARY OF CHARITABLE ACTIVITIES AND IMPACT - continued

Summary of Activities according to Programs:

ELSE

For our Education Loans and Social Entrepreneurship project we continued to support the education of eight children in Delhi, India with our local partner Shiksha Rath. During this time Shiksha Rath also requested support for digital and IT- to equip the NGO with 10 laptops. GreenShoots also facilitated a grant for meals and extracurricular activities such as field trips for the students.

FASE:

FASE Cambodia

The financial year 2021-2022 was a turning point in our activities for FASE as it saw the Agri-Tech Centre begin to open and come out lockdown which was followed very strictly all over Cambodia. Our first point of call was to conduct a rapid data collection study in collaboration with local partners. The study was designed specifically to be used in interviews with key informants (community leaders) and focus groups for community members. Questions have been organised around four main themes to understand how COVID-19 has impacted community members. The four themes we focused on were:

Within each theme the survey also aims to understand coping strategies that may have emerged throughout COVID-19 and how lifestyles have been adapted to meet any emerging needs of the community. Our key take aways from the study were that there was heighted sentiment of fear around COVID 19 and most families relied on social media and village authorities for regular updates. Access to vaccines was seen as the key support provided by the government and a key factor in reducing fear. With regards to food security, all families had methods emerged to cope (with lockdowns) including changes in looking for food in the forest, foraging or growing more at home. Finally, due to proximity to the Thai border and movement of people being limited, families struggled to support themselves with more family members returning home, home schooling, food prices and loss of income.

Within this new context, during April 2022 and May 2022, Green Shoots Foundation Operations Manager and the local team embarked on designing a new way of working. Whilst we see the Agri-Tech Centre as a fully functioning integrated farm, we also recognise its function as a multipurpose space that can incubate and launch projects. We feel this approach is holistic at its heart where it combines tried and tested integrated farming techniques with innovative pilot projects that can be scaled up if successful.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

SUMMARY OF CHARITABLE ACTIVITIES AND IMPACT - continued

Two projects launched from the Agri-Tech centre in 2022 were:

In terms of a functioning integrated farm, The AgriTech centre continues to host 30 students on a weekly basis and involving them in activities along the horticulture value chain. Students’ patriciate in: preparing seedlings, planting, pruning and care, harvesting and postharvest losses. The AgriTech Centre bio-gas kitchen is an excellent way to demonstrate cooking and nutritional benefits of foods. We also bred frogs, fish and chicken on site to supplement the closed-loop farm structure.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

SUMMARY OF CHARITABLE ACTIVITIES AND IMPACT - continued

Our location is 100% organic and chemical free and abides by Agroecology and regenerative practices.

Lastly, a biodiversity survey conducted at the Agri-Tech Centre in May 2022 demonstrated our 0.5 Ha patch of land has nearly 50 species of fruit trees either growing wild or intentionally grown by us. A full report from out project in Cambodia can be found here: - https://www.dropbox.com/s/waols8j2oenqag4/Agritech%20narrative%20Report%202021 2022%20annual%20report.pdf?dl=0

FASE- London

Project Plant

In October 2021 we worked with newly identified partner, Green Lab, to set-up a pop-up urban farm to table installation in East London. The purpose of this installation was to demonstrate the use of technology in urban farming systems and how growing cities such as London can maximise on vacant and unused spaces (rooftops, carparks) for growing foods using vertical/ hydroponic systems and UV lights. The most successful elements of the pop-up were a vertical growing structure for herbs and salads and a mushroom growing installation.

GreenShoots also managed 10 volunteers that assisted on site in set-up of the installation, the technology and educational experience for visitors.

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Green Shoots Foundation

Report and Financial Statements - Year ended 31[st] May 2022

SUMMARY OF CHARITABLE ACTIVITIES AND IMPACT- continued

All growing structures were within geodesic domes that allow to monitor, manage, and control elements such as temperate, light, humidity which are essential for plant growing.

This project was our first foray into food and agriculture initiatives within London and we hope to be part of more in the coming years.

MAME:

Given the political unrest in Myanmar we have had to pause all future support for our partners there- especially when it comes to arranging medical education events. This has negatively impacted our support for local partners and our annual income. During the financial year for 2021 and 2022 we bult greater links with partners in Kyrgyzstan and utilised digital platforms to organise a series of trainings in the two following categories:

www.greenshootsfoundation.org

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