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← Jamma International

2024-04-05-accounts

Charity registration number 1138785 (England and Wales)

Company registration number 07344374

JAMMA INTERNATIONAL

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

JAMMA INTERNATIONAL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A C Johansson
K A Johansson
M A Johansson
M H Johansson
Charity number 1138785
Company number 07344374
Website www.jammainternational.com
Registered office 3rd Floor
114a Cromwell Road
London
SW7 4AG
Auditor Bright Grahame Murray
Emperor's Gate
114a Cromwell Road
Kensington
London
SW7 4AG
Bankers NatWest Bank plc
PO Box 592
18 Cromwell Place
London
SW7 2LB
UBS Bank
St Helier
Jersey
JE2 3BX
Solicitors Thomson Snell & Passmore LLP
Heathervale House
2-4 Vale Avenue
Tunbridge Wells
TN1 1DJ
Investment manager Rathone Investment Management International
26 Esplanade, St Helier,
Jersey JE1 2RB
(ceased December 2023)
Bird Capital Asset Management Ltd
Grenville Street, St Helier,
Jersey JE4 8PX
(from January 2024)

JAMMA INTERNATIONAL

CONTENTS

Page
Trustees report 1 - 6
Independent auditor's report 7 - 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 24

JAMMA INTERNATIONAL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 5 APRIL 2024

The Trustees present their annual report and financial statements for the year ended 5 April 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity's trust deed and the statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The objectives for which the company was established are for public benefit and in doing so undertakes:

The Directors have referred to the guidance contained in the Charity Commission's advice on public benefit when reviewing the objectives and activities and when planning for future activities.

There are no changes in the objectives since the previous report.

Purpose and Aims

Jamma International Limited ("Jamma") was incorporated in 2010 and is a UK-registered charity. It supports organisations at home and abroad that want to tackle issues to help communities and the environment thrive.

The Directors and staff have during the year carried out an extensive review of Jamma’s aims resulting in a fiveyear strategy.

When shaping the strategy, agreeing the aims, defining the activities and making decisions on projects to support, the Directors comply with their duty in section 17 of the Charities Act 2011and refer to the Charity Commission's guidance on public benefit. In particular, the Directors consider how planned activities will contribute to the aims and objectives that have been set.

Vision

Where success is measured in the wellbeing of the planet and its people.

Mission

Jamma works to deliver impact at a global scale by seeking opportunities to leverage change, achieving sustainable results that can be replicated.

We bring like-minded people together to tackle the biggest challenges faced by our planet and its people. At the heart of our work is the intention to change lives for the better and contribute to a sense of global community.

Planet

We are increasingly aware that the wellbeing of the planet and its people is the foundation our existence is built on. We support projects that return benefits to the land and those it sustains.

People

We work with communities across the world. We bring connection, cohesion and courage to gather like-minded people, regardless of kinship.

JAMMA INTERNATIONAL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Strategic Plan

Jamma’s 5-year strategic plan sets out the priorities of the organisation and how it works to maximise the impact of its activities.

The key strategic goals:

Funding Awarded

During the financial year ended 5 April 2024, Jamma provided funding of $2,757,813 (2023: $2,277,538) to new and existing projects.

Organisations Supported

As defined in the Jamma Strategic plan the focus for Jamma’s partnerships and funding falls into 6 key areas.

Awareness

Employing deliberate efforts and strategies to increase the understanding, knowledge, and appreciation in biodiversity conservation and mental wellbeing among the local community and the broader public.

Elephants Alive: Biospheres Beyond Boundaries. This projects aim is to conserve African elephants by allowing linkages between Protected Areas by means of community owned corridors within biosphere reserves. Cape Leopard Trust: Conserving Leopards in a Changing Landscape. A project aiming to map the numbers and movements of Leopards in the Western Cape area of South Africa. Oxford University: Morally Contested Conservation – Evidence to Inform Policy. Identifying core drivers of similarities and differences underpinning beliefs to inform policy decisions. Oxford University: Exploring the Role of Sustainable use in Conservation and Wildlife Management. A global review on the evidence around the conservation, social, and economic impacts of hunting, whilst contextualising it within the broader framework of wildlife harvesting. Oxford University: Wildlife Welfare Study. The projects aim is to conduct a collaborative, transdisciplinary study, adopting a well-established expertmediated approach to assess the relative welfare impacts of different causes of death for wild animals, and use this to help inform public and political discussions.

Advocacy

Encouraging action to support social and environmental causes, whether that action be research, education, awareness raising etc to shift public opinion and drive policy change.

Community Leaders Network: Capacitating the Community Leaders Network of Southern Africa’s Secretariat. To develop a robust internal governance system and CLN’s future strategy. This year the focus has been on holding meetings. They were: a strategy development workshop, a meeting exploring CBNRM and a forum to include members of the Indigenous Peoples Alliance. Resource Africa (RA): Resource Rights in Africa. Working with RA and community groups in Africa to advocate for their resource rights, promote CBNRM practices, support governance and develop monitoring systems and facilitate engagement with communities to address resourcerelated challenges. Conservation Visions : Disrupting Nature's Discourse: Communicating Nature Conservation, Cultural Diversity and Human Livelihoods Through the Values of Wild Food Harvesting. A five year project. The Wild Harvest Initiative will provide new ways of communicating the relevance and benefits of sustainable use of wildlife and nature conservation to policymakers, politicians, and the general public. It will positively influence legislation related to sustainable use and wildlife conservation, while encouraging increased participation in, and support for, wild harvest activities. It will provide empirical evidence of the quantifiable value of hunting and fishing in terms of food security; human health; wildlife, fish, and habitat conservation; animal health and welfare; the environment; and the economy, which may be used to bolster advocacy efforts more broadly.

JAMMA INTERNATIONAL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Education and Capacity Building

Enhancing the skills, knowledge, abilities, and resources of individuals, communities, organisations, and institutions.

Brian Child and The University of Florida: Transformative Education in Wildlife Economy. Delivering training in wildlife economy to support conservation strategies for the future. Eland School (Ubunthu Trust). Providing culturally appropriate education to Khomani San children in the southern Kalahari Desert. The Photography Foundation. Creating pathways to professional photography for less advantaged young adults in London. London Interdisciplinary School. Empowering students with the knowledge and skills necessary to tackle social and global issues head-on.

Networks and Collaborators

Establishing and nurturing relationships, partnerships, and connections with individuals, groups, organizations, and institutions to leverage collective expertise, resources, and efforts to enhance effectiveness and impact in the fields of biodiversity conservation and mental wellbeing.

IUCN (International Union for Conservation of Nature): Human-Wildlife Conflict & Coexistence. To support countries in developing and implementing national policies for managing human-wildlife conflict and provide them with direct access to best available resources and advice. IUCN’s Sustainable Use and Livelihoods Specialist Group (SULi ): To fund a Technical Manger and Programme Officer and to build capacity in SULi. Fauna and Flora International. Membership. Ripple Effect: Kebele Giving Matched Fund. Matched funding for Kebele Giving, to support the work of the Zambia Rainbow Development Foundation. International Conservation Caucus Foundation (ICCF): Membership.

Best Practice Models

To achieve an international standard of success benchmarked against similar organisations and projects in the fields of mental wellbeing and conservation.

Zambia Rainbow Development Trust: Zambia’s Food for the Future. To increase domestic production of low-cost protein rich, nutritive, palatable fish in the remote Luano and Mkushi districts. Zambia Rainbow Development Trust: ZRDF’S Holistic Approach. The project aims to strengthen the capacity of the rural poor communities through improved: (i) water and sanitation, (ii) household social-economic status through beekeeping activities, (iii) education; and (iv) climate smart agriculture initiatives. Return Africa: Makuleke Villages Drop-in Centres. For vulnerable children in the Makuleke villages located southwest of the Punda Maria Gate of the Kruger National Park. Conservancy Safari Namibia. A locally owned and run operation, offering visitors a unique experience. Hallands Vadero, Sweden: Landscape Restoration Project.

Mental Wellbeing

Improving the wellbeing of individuals and communities, through knowledge based resources.

My Life (formally Student Life) : Unlock My Life. Delivering Jamma’s Brain Smart programme in prisons around the UK to give offenders an opportunity to talk about their mental health and volunteer to be Mental Health Ambassadors to support other prisoners. My Life (formally Student Life ): Mental Wellbeing in Schools. Delivering mental wellbeing training to schools, including the Jamma Brain Smart programme.

Pala Consultants : Developing a Brain Smart wellbeing App.

JAMMA INTERNATIONAL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Achievements and performance

Jamma has regular contact with and active involvement in all projects it funds. Regular written reports are received and reviewed. Jamma will continue to connect with the projects after the end of the funding period to monitor their ongoing impact. The Directors are confident that the grants made are being used for the intended purpose and all projects develop in the right direction. Jamma is continuously in talks with a number of organisations with a view to build new relationships and working partnerships.

A comprehensive application, evaluation and monitoring process is in place enabling the Directors to evaluate project applications, monitor project outcomes and impacts. The new application and monitoring data base is now in fully operational.

Jamma aims to work with likeminded organisation whose values align with its own. The belief is that just giving money is not enough. Jamma engages with partners to make sure that projects have a positive long-lasting impact. The second Jamma Podcast series, Beneath the Baobab, The Coexistence Challenge has been released, filmed in Southern Africa and Scotland.

Jamma is working with organisations to promote wellbeing through Brain Smart, a programme providing basic knowledge of how the brain works. Agneta Johansson the Director of Wellbeing and a Jamma trustee has released the book ‘Brain Smart’. The partnership with My Life to deliver the project ‘Un Lock My Life’ has been expanded to deliver mental health training and awareness to 18 prisons. This project is led by prisoners ensuring that the delivery is relatable to the audience.

The Directors have carried out the annual review of the strategic plan. Jamma remains confident of its ability to fulfil all its current financial commitments as well as provide funding to new projects.

Jamma has engaged a consultant in the USA to engage with decision-makers, stakeholders, and public audiences to address policy threats and opportunities related to wildlife trade, conservation funding, and IPLC rights globally. The intention is to develop advocacy campaigns and facilitate partnerships with key organizations to amplify Jamma’s message.

In South Africa, Jamma has engaged a consultant to lead the work with indigenous peoples and local communities. The aim is to create platforms to allow these groups to engage on issues of resource rights and CBNRM. During the year the consultant engaged with the communities and set up a new independent organisation to represent the rights of Indigenous Peoples.

Financial review

Like most years, this year has been affected by world events that have had a dramatic impact on financial markets.

Reserve Policy and Assessment of going concern

Bank balances and financial investments constitute unrestricted funds and are seen as a general reserve.

The Directors monitor Jamma’s financial assets to make sure it has sufficient funds to meet the costs of all known commitments, planned projects and overheads.

Investment policy

During the year the Directors have implemented changes in the management of Jamma’s investments. The relationship with Rathbone Investment Management was discontinued and Bird Capital Asset Management (UK) Limited was appointed as the new investment manager. They are authorised to operate a discretionary mandate exposing the portfolio to a risk at a level between medium and high.

Risks and uncertainties

The Directors regularly consider risks to which Jamma is exposed, including financial, governance, fraud, cyber security, legal, reputational and reliance on key personnel. Following the previous years financial uncertainties and the cost of living increases across the world the Directors continue to pay carful attention to events that may have an impact on the work of Jamma and the financial security of the organisation.

JAMMA INTERNATIONAL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Plans for future periods

During the coming year Jamma will continue to develop networks and relationships that align with our vision. A Head of Network Communications started her employment in April 2024, to promote the work of Jamma, support our partner organisations and communities in Southern Africa. The aim is to make their voices heard in matters where decisions are made that effect their ability to use their natural resources on which their livelihoods to a large extent depend.

The current Interns have been offered permanent posts from May 2024, as Project Co-Ordinator and Communication Co-Ordinator. The project co-ordinator will be promoted to Head of Impact.

Following the review of the Jamma 5-year strategy the Directors will implement a plan to restructure Jamma to define the three main areas of work in three separate entities, namely Jamma Conservation and Communities, Jamma Wellbeing and Jamma Innovation.

Structure, governance and management

Jamma International Limited was incorporated by guarantee on 12 August 2010. It has no share capital and is a registered charity. The liability of each member in the event of winding up is limited to £1. On 5 April 2024 the company had four members.

The governing document is the Memorandum and Articles of Association. The members of the Board of Trustees are the Directors of the company. In accordance with the Articles of Association Directors are elected by the members by ordinary resolution or by a decision of the Directors.

The Trustees, who are also the Directors for the purpose of company law, and who served during the year were: A C Johansson K A Johansson M A Johansson M H Johansson

All trustees give their time free of charge and no Trustee remuneration was paid in the year. There were no expenses claimed by Trustees (2023: £Nil).

The remuneration of Jamma staff is reviewed annually on an individual performance basis.

Trustees are required to disclose and register all relevant interests and withdraw from decisions where a conflict of interest arises.

Statement of Trustees responsibilities

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the company’s financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

The auditor, Bright Grahame Murray, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

JAMMA INTERNATIONAL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Small Company Provision

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The Trustees report was approved by the Board of Trustees.

A C Johansson K A Johansson Trustee Trustee

16 January 2025

JAMMA INTERNATIONAL

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JAMMA INTERNATIONAL

Opinion

We have audited the financial statements of Jamma International (the ‘company’) for the year ended 5 April 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. 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:

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 company in accordance with the ethical requirements that are relevant to 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 company’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 Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

JAMMA INTERNATIONAL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JAMMA INTERNATIONAL

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the company for the purpose 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 the Trustees 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 company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

JAMMA INTERNATIONAL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JAMMA INTERNATIONAL

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

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

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

JAMMA INTERNATIONAL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JAMMA INTERNATIONAL

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Matthew Eade

Matthew Eade (Senior Statutory Auditor) for and on behalf of Bright Grahame Murray

Chartered Accountants

Emperor's Gate 114a Cromwell Road Kensington London SW7 4AG 4 February 2025

Bright Grahame Murray is eligible for appointment as auditor of the company by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.

JAMMA INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024

Unrestricted Restricted Total Total
funds funds 2024 2023
Notes US$ US$ US$ US$
Income from:
Donations and legacies 3 2,898,443 31,969 2,930,412 1,814,601
Investments 4 116,274 - 116,274 113,905
Total income 3,014,717 31,969 3,046,686 1,928,506
Expenditure on:
Raising funds 5 3,723 - 3,723 10,869
Charitable activities 6 4,340,058 - 4,340,058 3,058,070
Total resources expended 4,343,781 - 4,343,781 3,068,939
Net (losses)/ gains on investments 13 241,291 - 241,291 (165,955)
Net (outgoing)/incoming resources (1,087,773) 31,969 (1,055,804) (1,306,388)
Other recognised gains and losses
Other gains or losses 14 (7,938) - (7,938) (18,778)
Net movement in funds (1,095,711) 31,969 (1,063,742) (1,325,166)
Fund balances at 6 April 2023 8,200,256 54,909 8,255,165 9,580,331
Fund balances at 5 April 2024 7,104,545 86,878 7,191,423 8,255,165

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

JAMMA INTERNATIONAL

BALANCE SHEET

AS AT 5 APRIL 2024

Notes
Fixed assets
Tangible assets
15
Investments
16
Current assets
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilities
The funds of the company
Restricted income funds
20
Unrestricted funds
21		 2024
US$
US$
20,643
6,722,223
6,742,866
340,115
199,911
540,026
(91,469)
448,557
7,191,423
86,878
7,104,545
7,191,423		 2023
US$
US$
21,811
7,007,525
7,029,336
500,091
815,364
1,315,455
(89,626)
1,225,829
8,255,165
54,909
8,200,256
8,255,165		 2023
US$
US$
21,811
7,007,525
7,029,336
500,091
815,364
1,315,455
(89,626)
1,225,829
8,255,165
54,909
8,200,256
8,255,165
7,029,336
1,225,829
8,255,165
54,909
8,200,256
8,255,165

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 5 April 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 16 January 2025

A C Johansson K A Johansson Trustee Trustee

Company registration number 07344374 (England and Wales)

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

Charity information

Jamma International is a private company limited by guarantee incorporated in England and Wales. The registered office is 3rd Floor, 114a Cromwell Road, London, SW7 4AG.

1.1 Accounting convention

The accounts have been prepared in accordance with the company's Memorandum and Articles of Association, 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)” (as amended for accounting periods commencing from 1 January 2016). The company is a Public Benefit Entity as defined by FRS 102.

The company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The accounts are prepared in United States dollar (US$), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest US$.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

The trustees have reviewed the company's forecasts and projections and, therefore, continues to adopt the going concern basis in preparing its financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

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

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

1.4 Incoming resources

Income is recognised when the company 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 company 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 receipt.

Legacies are recognised on receipt or otherwise if the company 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.

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All expenditure is accounted for on an accrual basis and has been listed under headings that aggregate all costs related to that activity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings between 1-5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs. Unlisted investments are subsequently held at cost. Listed investments are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 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.

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

2 Critical accounting estimates and judgements

In the application of the company’s accounting policies, the Trustees 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.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
US$
US$
Donations received
2,898,443
31,969
For the year ended 5 April 2023
1,758,222
56,379		 Total
2024
US$
2,930,412		 Total
2023
US$
1,814,601
1,814,601

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
US$ US$
Income from listed investments 50,895 61,666
Income from unlisted investments 16,112 15,290
Interest receivable 49,267 36,949
116,274 113,905
Raising funds
2024 2023
US$ US$
Investment management 3,723 10,869
3,723 10,869

5 Raising funds

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

6 Charitable activities

Grant funding of activities (see note 7)
Share of support costs (see note 8)
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 2024
US$
2,757,813
1,535,760
46,485
4,340,058
4,340,058
-		 2023
US$
2,277,538
737,965
42,567
3,058,070
3,056,600
1,470

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

7 Grants payable

Grants to institutions:
ACRRA (Indigenous Peoples Legal Alliance)
Baynards Zambia Trust
Cape Leopard Trust
Community Leaders Network
Conservancy Safaris Namibia Ltd
Conservative Visions - Wild Harvest Initiative
COUTADA 10 - Develoment
Director of Conservation Discretionary Fund
Eland School - Ubunthu Trust
Elephants Alive
Fauna and Flora International
Harvesting Study
International Conservative Caucus Foundation (ICCF)
International Union for Conservation of Nature
Into The Wild
Life Skills Project
London Interdisciplinary School
Morally Contested Conservation
My Life (Brain Smart)
Other
Pala Consultants Ltd
ResourceAfrica
Return Africa - Makuleke People
Ripple Effect
Unlock My Life
SULI - IIED
Synergos Institute
The Photography Foundation
Transformational Business Network
Brain Child/ University of Florida
Wildlife Welfare Study
Zambian Rainbow Development Foundation		 2024
US$
3,616
-
65,175
326,269
48,324
91,828
14,377
35,174
96,286
115,457
12,631
61,319
15,030
32,735
-
-
-
213,539
347,390
3,964
(66,107)
192,061
19,781
31,777
-
193,322
-
475,652
-
196,233
24,867
207,113
2,757,813		 2023
US$ -
98,039
67,645
-
-
-
-
-
77,693
25,000
-
78,326
-
-
7,479
61,897
13,643
82,914
-
-
-
922,029
27,907
-
19,171
-
50,000
551,487
48,000
32,000
-
81,899
2,277,538

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

8 Support costs allocated to activities

Staff costs
Depreciation
Campaiging, communication and marketing costs
Office expenses
Travel
Governance
Governance costs comprise:
Audit fees
Accountancy
Bank charges
Legal and professional
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 Total
2024
US$
542,777
7,778
892,425
49,904
42,876
46,485
1,582,245
2024
US$
9,053
30,517
2,719
4,196
46,485
2024
US$
9,053
7,778		 Total
2023
US$
392,133
9,880
229,585
67,283
39,084
42,567
780,532
2023
US$
9,384
19,251
1,522
12,410
42,567
2023
US$
9,384
9,880

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year. No trustees' expenses have been incurred during the reporting period.

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

11 Employees

Number of employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was £60,000 or more
were:
£60,001 to £70,000
£80,001 to £100,000		 2024
Number
8
2024
US$
480,965
47,831
13,981
542,777
2024
Number
2
1		 2023
Number
7
2023
US$
342,580
39,274
10,279
392,133
2023
Number
-
1

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Net gains/(losses) on investments

Revaluation of investments
Gain/(loss) on sale of investments
14
Other gains or losses
Foreign exchange loss/ (gains)		 2024
2023
US$
US$
237,522
(704,171)
3,769
538,216
241,291
(165,955)
2024
2023
US$
US$
7,938
18,778		 2024
2023
US$
US$
237,522
(704,171)
3,769
538,216
241,291
(165,955)
2024
2023
US$
US$
7,938
18,778
2023
US$
18,778

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

15 Tangible fixed assets

Tangible fixed assets
Fixtures and
fittings
US$
Cost
At 6 April 2023 52,031
Additions 6,610
At 5 April 2024 58,641
Depreciation and impairment
At 6 April 2023 30,220
Depreciation charged in the year 7,778
At 5 April 2024 37,998
Carrying amount
At 5 April 2024 20,643
At 5 April 2023 21,811

16 Fixed asset investments

Listed
investments
US$
Cost or valuation
At 6 April 2023
3,196,206
Additions
3,714,293
Valuation changes
237,522
Dividend income
-
Other movements
3,769
Disposals
(4,236,838)
At 5 April 2024
2,914,952
Carrying amount
At 05 April 2024
2,914,952
At 05 April 2023
3,196,206		 Cash in
portfolio
Unlisted
investments
Total
US$
US$
US$
13,155
3,798,164
7,007,525
-
-
3,714,293
-
-
237,522
50,895
-
50,895
(7,761)
-
(3,992)
(47,180)
-
(4,284,018)
9,109
3,798,164
6,722,225
9,109
3,798,164
6,722,225
13,155
3,798,164
7,007,525

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

16
Fixed asset investments
Investments at fair value comprise:
Actively managed strategies
Cash		 (Continued)
2024
2023
US$
US$
2,914,952
3,196,206
9,109
13,155
2,924,061
3,209,361		 (Continued)
2024
2023
US$
US$
2,914,952
3,196,206
9,109
13,155
2,924,061
3,209,361
3,209,361

Fixed asset investments revalued

The historical cost of listed fixed asset investments at 5 April 2024 was $2,674,248 (2023: $2,657,272).

The unlisted investments are represented by holdings in The Conduit Holdco Limited, The Conduit Connect Limited, The Conduit Club and The London Interdisciplinary School Limited, all companies registered in England and Wales.

17 Debtors
2024 2023
Amounts falling due within one year: US$ US$
Other debtors 340,115 500,091

Included in other debtors is an amount of $34,295 (2023: $34,373) recoverable after more than one year.

18 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
19
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
US$
21,046
57,606
3,298
9,519
91,469
2024
US$
13,981		 2023
US$
17,703
60,428
1,976
9,519
89,626
2023
US$
10,279

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Previous year: At 6 April
2023
Incoming
resources
Resources
expended
US$
US$
US$
54,909
31,969
-
At 6 April
2022
Incoming
resources
Resources
expended
US$
US$
US$
-
56,379
(1,470)		 At 5 April
2024
US$
86,878
At 5 April
2023
US$
54,909

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 6 April
2023
Incoming
resources
Resources
expended
Gains and
losses
US$
US$
US$
US$
8,200,256
3,014,717
(4,343,781)
233,353
At 6 April
2022
Incoming
resources
Resources
expended
Gains and
losses
US$
US$
US$
US$
9,580,331
1,872,127
(3,067,469)
(184,733)		 At 5 April
2024
US$
7,104,545
At 5 April
2023
US$
8,200,256

22 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Restricted Unrestricted
funds funds Funds
US$ US$ US$
Fund balances at 5 April 2024 are represented by:
Tangible assets 20,643 - 20,643
Investments 6,722,223 - 6,722,223
Current assets/(liabilities) 361,679 86,878 448,557
7,104,545 86,878 7,191,423

23 Company limited by guarantee

The company is limited by guarantee and therefore has no share capital.

JAMMA INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

24 Related party transactions

During the year the charity made donations totalling $475,652 (2023: $359,076) to The Photography Foundation, a charity registered in England and Wales in which Mr M A Johansson and Mrs A C S Johansson are trustees.