**COMPANY REGISTRATION NUMBER: 09176062 CHARITY REGISTRATION NUMBER: 1160693** 

## **The Brazzaville Foundation Company Limited by Guarantee** 

## **Financial Statements** 

## **31 December 2021** 

## **HICKS AND COMPANY** 

Chartered accountants & statutory auditor Vaughan Chambers Vaughan Road Harpenden Hertfordshire AL5 4EE 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Financial Statements** 

## **Year ended 31 December 2021** 

||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent auditor's report to the members|**16**|
|Statement of financial activities (including income and||
|expenditure account)|**22**|
|Statement of financial position|**23**|
|Statement of cash flows|**24**|
|Notes to the financial statements|**25**|





## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** 

## **Year ended 31 December 2021** 

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 December 2021. 

## **Reference and administrative details** 

|**Registered charity name**|The Brazzaville Foundation||
|---|---|---|
|**Charity registration number**|1160693||
|**Company registration number**|09176062||
|**Principal office**|17 Oval Way||
||London||
||SE11 5RR||
|**Registered office**|17 Oval Way||
||London||
||SE11 5RR||
|**The trustees**|||
||Mr Jean-Yves Ollivier||
||Mr Nicholas J Chance|(Resigned 31 October 2021)|
||Mr Charles A Carr||
||Mr Kishore Sakhrani||
||Mr Tim Perry|(Resigned 20 June 2022)|
||Mrs Martine Chayrigues||
|**Auditor**|Hicks and Company||
||Chartered accountants & statutory auditor||
||Vaughan Chambers||
||Vaughan Road||
||Harpenden||
||Hertfordshire||
||AL5 4EE||
|**Bankers**|Metro Bank PLC||
||One Southampton Row||
||London||
||WC1B 5HA||
|**Solicitors**|Bates Wells Braithwaite||
||10 Queen Street Place||
||London||
||EC4R 1BE||



**1** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Structure, governance and management** 

The Brazzaville Foundation is a company limited by guarantee. 

The Foundation is an independent, non-profit organisation based in London. It takes its name and inspiration from the Brazzaville Protocol, signed in 1988 in the Congolese capital at the invitation of President Sassou N'Guesso.  A key moment in the history of modern Africa, this was an example of negotiations led by Africans themselves, leading to the peaceful resolution of conflicts in Southern Africa. They paved the way for Nelson Mandela's release, Namibia's independence and the end of Apartheid. 

This annual report covers the year from 1 January to 31 December 2021. 

## Legal Objects 

The Foundation was formed as a Company limited by Guarantee incorporated on 14 August 2014 with company number 9176062.  The Company was registered as a charity with the Charity Commission on 27 February 2015 with charity number 1160693. The name of the Foundation was changed from the Brazzaville Foundation for Peace and Conservation to The Brazzaville Foundation by a Special Resolution dated 22 November 2018. The Articles of Association, as amended by Special Resolutions dated 18 February 2015 and 22 22 November 2018, define the company as being restricted specifically to: 

 the promotion of national and international conflict resolution and reconciliation for the public benefit with a view to relieving suffering and poverty and promoting human rights and religious and racial harmony by mediating with parties to the conflict and others together to discuss possible solutions; 

 the saving of lives, the advancement of health, the relief of need, and the preservation and conservation for the public benefit of the physical and natural environment including landscapes, flora and fauna and the furtherance of other purposes recognised as charitable under English law, in particular (but without limitation) in areas affected by conflict around the world, and 

provided that all activities shall be balanced and shall maintain or enhance the charity's commitment to remaining independent and impartial. 

**2** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Structure, governance and management** _**(continued)**_ 

## Advisory Board 

The Foundation has established a Board of Advisers made up of distinguished individuals whose experience and expertise in different fields enable them to give guidance to the Foundation and assist it in its work. 

The Advisory Board members are: Chief Olusegun Obasanjo, former President of Nigeria; Hon. Kgalema Motlanthe, former President of South Africa; Dr. Ramos-Horta, winner of the Nobel Peace prize; Dr. Joyce Banda, former President of Malawi; Dr. Aminata Touré, former Prime Minister of Senegal; Hon. Kabine Komara, former Prime Minister of Guinea; Hon. Amama Mbabazi, former Prime Minister of Uganda; Dr. Nakedi Mathews Phosa, a leading member and former Treasurer General of the ANC in South Africa; Pär Stenbäck, former Secretary General of the International Federation of Red Cross and Red Crescent Societies; Amara Essy, former Secretary General of the OAU; Jan Kohout, former Foreign Minister of the Czech Republic; Cécilia Attias, former First Lady of France; Jean-Louis Bruguière, former French counter-terrorist judge; Ilmas Futehally, Executive Director of the Strategic Foresight Group in India; HSH Prince Philipp of Liechtenstein, Chairman of the LGT Group; and Dr. Sundeep Waslekar, President of the Strategic Foresight Group. 

Due to the health situation, the Advisory Board meeting planned in April 2021 had to be cancelled and postponed to a later date. 

On 6 September 2022, Ruben Vardanyan resigned from his position of Advisory Board member, willing to devote all his time to the prosperity and future of his country, Armenia. 

## Royal Patron 

From the commencement HRH Prince Michael of Kent has been the patron of the Foundation and has devoted considerable time to its activities, in particular during 2021, when he was involved in supporting and encouraging the Foundation's participation in the COP26 climate conference in Glasgow. 

Trustees, Governance and Administration 

The Articles of Association provide that there should be at least three Trustees who shall serve for a renewable term of three years. The Trustees, who are also directors of the company, are not remunerated for their trusteeship and details of Trustee expenses and any related party transactions are disclosed in the notes to the accounts. 

The Board of Trustees' main role is to ensure that the Foundation's vision and mission are properly fulfilled through the establishment of appropriate long-term and annual strategic plans and the proper implementation of these strategic plans. It is chaired by Mr. Jean-Yves Ollivier, who has been engaged in conflict resolution in Africa for more than thirty-five years, and supported by an experienced international Advisory Board. The other trustees are Mrs Martine Chayrigues (France), Mr Charles Carr, also Treasurer (UK), and Mr Kishore Sakhrani (Canada). 

Administering the day-to-day operation of the charity and its staff is Richard Amalvy, who has a long record as a leader of international NGOs and has co-designed peace programmes in various areas. 

The Foundation is committed to maintaining the highest standards of integrity and ethical behaviour in all its activities. All those working for the Foundation or associated with it are expected to uphold those standards. 

**3** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Structure, governance and management** _**(continued)**_ 

Resignation and Appointment of Trustees 

On 31 October 2021, Mr Nicholas Chance CVO resigned after more than four valuable years of expertise and advice. On 20 June 2022, due to professional and personal commitments which prevent him devoting the necessary time to the Foundation, Mr Tim Perry resigned as Trustee. 

New trustees are briefed on their legal obligations under the charity and company law, the Charity Commission guidance on public benefit, and informed of the contents of the Memorandum and Articles of Association, the decision-making processes and recent financial performance of the charity. 

## Risk Management 

The Trustees have a risk management strategy which includes annual review of the risks to which the charity is exposed, and the establishment and implementation of systems and procedures designed to mitigate the impact on the charity of the risks identified. Key elements of the strategy include: 

 the implementation of procedures for the authorisation of all financial transactions and the incurring of financial obligations; 

- the setting of a reserves policy and its regular review by the Trustees; 

- the agreement of an annual budget which is regularly reviewed; 

- the regular monitoring of geostrategic and geopolitics risks related to operating in African countries, 

- and 

- the consideration of the impact of the media and the effect on the Foundation's reputation. 

The Foundation endeavours to constantly improve its financial, budgetary and accounting management tools. During the last two years, the following action has been taken in this respect: 

 a revised cost accounting system: Since the summer 2020, the Foundation has implemented an improved analytical accounting system, which allows a more detailed view on the expenses made throughout the year both by programme and by category of expense; 

 A three-year work programme and budget (2022-2024): The Foundation has established a threeyear programme to better plan its activities in the long-term. This programme is backed by a detailed annual budget aligned with the strategic action plan. Having this document in place allows the Foundation to effectively monitor the impact of its activities towards the achievement of its longer-term goals, and also to communicate more efficiently with external stakeholders with respect to the future of each programme. 

 An annual and monthly cash flow forecast: Another tool implemented to efficiently follow the financial state of the Foundation is to carry out an annual cashflow as well as a monthly cashflow forecast. This allows the executive team and the treasurer to monitor closely the financial situation and make appropriate adjustments when needed. 

**4** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Objectives and activities** 

Mission Statement 

The Brazzaville Foundation promotes and supports African initiatives. Its vision for the future is to enable African leadership in all sectors in which it can be exercised (public, private, civil society), with a view to contributing to African solutions to the challenges facing the continent. The Foundation supports leaders (opinion and decision makers, influencers, groups or individuals) who share its vision and mission. The work programmes are designed to support the African Union's Agenda 2063 and the achievement of the United Nations Sustainable Development Goals (SDGs). 

The Brazzaville Foundation aims to find African solutions to the major challenges of the continent and give them a long-lasting impact in the following areas of work: 

- Peace - facilitating the intra-Libyan dialogue and resolving international conflicts; 

- Environment - preserving the planet's second lung, the Congo basin; 

- Health - fostering access to quality medicines and fighting against medicines that kill and 

- Foresight - building a new approach to democratic governance and supporting young African talent. 

**5** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Objectives and activities** _**(continued)**_ 

The Trustees have paid due regard to the Public Benefit guidance issued by the Charity Commission in deciding what activities to undertake. 

## **Programme of work for the year 2021** 

Throughout the year ended 31 December 2021 the Foundation has worked on a wide range of issues and launched several major initiatives: 

## **Congo Basin Blue Fund** 

The Foundation's proposal for a Congo Basin Blue Fund was launched at COP22 UN Climate Summit in Marrakesh in 2016.  16 countries from the African continent are now involved in the Fund, with the support of the Kingdom of Morocco. It is an African development fund that addresses climate change challenges on a continental and global scale. While aiming at regional integration and the well-being of populations, it finances projects based on the green and blue economy principles in each country involved in its governance. 

Since its establishment, the role of the Foundation has been to: 

- Co-initiate the Blue Fund in 2016 at COP22; 

- Act as a technical partner of the CBCC, since 2018, and 

- Support CBCC operations at COP26 

## **Falsified and substandard medicines (FSMs)** 

The Foundation is working with 6 African countries to combat the growing public health crisis caused by the traffic in falsified and substandard medicines. This is a serious problem throughout the developing world but particularly acute in Africa. 

Since its establishment, the role of the Foundation has been to: 

- Initiate and coordinate the Lomé Initiative from a technical standpoint; 

- Support improved legislation to combat trafficking in signatory countries; 

- Develop and implement national anti-trafficking plans; 

- Support governments in the ratification of international conventions, and 

- Support advocacy at an international level. 

## **Libyan conflict** 

With the support of the Government of Senegal, the Foundation organised a meeting in Dakar on 1113 May 2018 to establish a dialogue aimed at promoting rapprochement and reconciliation in Libya. The Foundation continues to carry out actions to promote peace between the parties; 

## **Young African Talent Programme** 

The Foundation is working on the launch of a "Young African Talent" programme to identify, promote and develop young people in Africa and improve their employability. The programme has been developed with the support of a young Cameroonian consultant within the framework of an apprenticeship signed with his university. 

The Foundation also offered an internship to a young Franco-Algerian female student studying at the London School of Economy. She supported the implementation of the digital communication strategy. 

**6** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Objectives and activities** _**(continued)**_ 

## **Niamey Process** 

The Niamey Process is an initiative to help democracy take root in Africa by identifying a type of governance adapted to the continent's pre-colonial cultures and current needs are being developed in partnership with the Issoufou Mahamadou Foundation. 

## **Network of partnerships** 

The Foundation has stepped up its efforts to build a strong and sustainable network of partners, both for its general functioning and its programmes. It aims at including its activities in the African Union agenda and the UN SDGs global agenda as well as fostering a context of collaboration and support to strengthen the impact of its actions in each field. 

## **Setting clear objectives: strategic orientations and better planning** 

On the 5-year anniversary, the Trustees considered it necessary for the Foundation to rethink the engineering of its different programmes. At the end of the 2021 year, the executive team worked on a three-year work programme and budget to better plan its activities and thus ensure its sustainability with the partners with whom it is involved, including the development of its philanthropic infrastructure to fulfil its mission. 

## **Creating value in everything we do** 

The Foundation acts by setting up concrete programmes co-developed with clearly identified African operators. These programmes aim to develop the innate capabilities of African countries in the fields of peace, environment, and health. The financial resources come from donors who share this ambition. Since 2015, the Foundation's way of working has aimed to create maximum value and impact in countries by ensuring that the financial resources collective have strong transformative power. 

## **Improving our accountability: The five-year report** 

With the support of several consultants, the executive team published and disseminated the Brazzaville Foundation's five-year report in March 2021. 

The purpose of such a document was to: 

- celebrate the work accomplished since 2015 and honour all those who have contributed, and 

- be accountable to beneficiaries, donors, and oversight bodies and have a tool to better communicate and to better engage in advocacy and fundraising. 

It has shown itself a real asset in building relationships with potential partners and donors, but also to enable the Foundation to take stock of its achievements in the various programmes and activities. 

**7** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Achievements and performance** 

## **Fighting against falsified and substandard medicines ("FSM")** 

Over the last year, the Foundation has focused significant efforts on the fight against falsified and substandard medicines in Africa and in particular on the development of an initiative, now known as the Lomé Initiative, aimed in its first stage at the introduction of legislation specifically targeted at criminalising the traffic in falsified medicines. Access to proper healthcare is a fundamental right but for too many people, especially in Africa, their health and their lives are put at risk by the traffic in FSM. 

The Foundation has particularly worked on the technical coordination of the Initiative with its political coordinator, the Republic of Togo, represented by Pr. Moustafa Mijiyawa, Minister of Health. 

Since January 2021, the Brazzaville Foundation has carried out, or continued to carry out: 

 Various meetings with the Ministers of Health and active and potential partners in the signatory countries aimed at coordinating the next steps of the initiative, as well as advocating for the signature and ratification of major international conventions. The Chairman and the Chief Executive travelled during the year to Togo, Niger and the Republic of Congo to meet and work with their Ministers and senior civil servants. 

 A legislative audit, allowing the identification of gaps in order to make recommendations on needed new/additional legislation. The final report of the legislative audit was delivered by the Foundation's partner, Allen & Overy, during the summer 2021 and the Foundation is now in discussion with the signatory countries to determine how to make the best use of the information in the report for the next stages of the initiative. The report gives an overview of each signatory countries' existing legislation to fight against the traffic of FSMs, giving the opportunity to compare the legislation in order to harmonise the legislation at the international level. 

 On 25 May 2021, the Foundation organised the high-level roundtable "COVID-19 and the increasing Risks of Substandard and Falsified Pharmaceutical products in Africa: A public health and security issue" as a contribution to the 74th World Health Assembly. The online event gathered speakers from all sectors (public, private and civil society) and from different fields, and highlighted the need for coordination, awareness raising and integrity of the supply chain to be efficient in the fight against falsified and substandard medicines. 

In addition, the Foundation has strengthened its advocacy work with various intergovernmental and civil society organisations: 

 On 26 May 2021, the Foundation was granted the observer status of the MEDICRIME Convention Committee of Parties, which will allow it to take part to high-level discussions to tackle the issue, develop partnerships for a greater impact of its activities and share best practices with the members. 

 In 2021, the Foundation also strengthened its working relationships with major stakeholders in the field such as WHO, UNODC, Gates Foundation, IFPMA etc. and the Chief Executive has been given the opportunity to speak in several events organised by those contacts in person and virtually. Moreover, several countries have expressed their interest in joining the initiative including Guinea-Bissau, the Democratic Republic of Congo and the Gambia. 

## Evaluation 

The activities led by the Foundation throughout the 2021 year resulted in a structured and clear plan to 

**8** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

implement the Lomé Initiative in the countries involved, starting with the pilot project in the Republic of Togo. The re-structuring of the project is based on the analysis obtained following consultation with all the stakeholders. A strong network of potential technical and financial partners for the project has been established and allows the enrichment of the programme through the exchange of experience and knowledge. 

## **Preserving the Congo Basin** 

The Foundation renewed its historical relationship with the Congo Basin Climate Commission (CBCC) during the year. Following several meetings with Mrs. Arlette Soudan-Nonault, Minister of the Environment of the Republic of Congo, and technical coordinator of the CBCC, the Foundation has been given the mission to accompany the CBCC in defining the branding, advocacy and marketing communication strategy of the Congo Basin Blue Fund, particularly in view of the COP26 conference in November 2021. 

## The Foundation's activities included: 

 Ahead of COP26 in Glasgow, on 29 June 2021, the Brazzaville Foundation organised an online high-level roundtable "From COP22 to COP26: the Congo Basin Blue Fund, an African and a global issue" with over 180 participants. Among them were ministers representing the member states and technical partners of the CBCC, representatives of the United Nations system, international climate experts, donors, potential donors and media. 

 Throughout the year, the Foundation has advocated for the Congo Basin through linking the CBCC with international organisations as UNESCO, providing a representation by intervening on the subject at important events and by encouraging public figures to take the issue up, as, for example, our Patron, HRH Prince Michael of Kent who recorded a video for COP26. 

 From 19 to 30 July, three Foundation members of staff went to Brazzaville in order to conduct working sessions with the CBCC team to define the branding, advocacy and marketing communication strategy of the Congo Basin Blue Fund. These workshops aimed at giving more impact to the activities of the Congo Basin Blue Fund, as well as advocating efficiently on the Congo Basin, especially ahead of COP26. The strategy was approved by the 16 Environment Ministers composing the Board of the CBCC and then endorsed by the Heads of State Summit. 

 From April 2021, the Foundation supported the CBCC in the planning and organisation of their presence at the major environmental event of the COP26, taking place in Glasgow, Scotland, from 31st October to 12 November 2021. The whole Brazzaville Foundation team, including the Founding Chairman, attended the event. Contacts with organisers, design and management of the pavilion, and the creation of links with the press and media were undertaken before and during the event. 

 As part of the marketing communication strategy, the Foundation produced a four-page presentation document of the CBCC and the Congo Basin Blue Fund as well as several presentation documents useful for stakeholders. 

## Evaluation 

The activities led throughout the year 2021 resulted in the design of real strategy for the CBCC and the Congo Basin Blue Fund operationalised by the creation of the marketing and communication tools and documents used by the CBCC. This new material and the various events conducted also gave the CBCC and the Congo Basin a higher visibility, essential to reach the objective of preserving the basin. All these activities fulfilled a dual mission: make the advocacy on the preservation of the Congo Basin more impactful for the stakeholders and the public and attract potential donors for its pipeline of 

**9** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## projects. 

## **Empowering Young African Talent** 

The Foundation defined and developed the Young African Talent programme which is aimed at enhancing and strengthening the capacity of the youth as well as facilitating their professional employability. Contacts with potential partnerships have also been made to collect experiences and explore opportunities of collaboration. 

The Foundation aims at launching the programme in 2022, if the workload and international conditions permit it. 

## Evaluation 

The activities led throughout the year 2021 resulted in the engineering of the Young African Talent programme. A work programme, initial budget and launching schedule have been produced and will be used at the launch of the programme. Also, first contacts have been made with stakeholders which will be essential partners for the programme. 

## **Improving the African model of governance** 

## The Niamey Process 

The Niamey Process for Democracy in Africa aims to help take Africa to a new level of democracy, through institutions that are better rooted in cultural realities and better suited to tackling the continent's problems. The Brazzaville Foundation and its Founding Chairman, Jean-Yves Ollivier, have been called to coordinate and design the initiative. In March 2021, Richard Amalvy and a consultant met with partners in Niger to outline the project, preparing for the launch of the initiative. 

## Facilitating peace in Libya 

In 2021, the Founding Chairman continued his activities aimed at promoting rapprochement and reconciliation among Libyans by conducting various behind-the-scenes activities. As part of these activities, he organised an unprecedented high-level meeting between Sheikh Farhat Jâbiri, spiritual leader of the Ibadites, and Denis Sassou N'Guesso, Chairperson of the African Union's High-Level Committee on Libya. 

## Evaluation 

The activities on the Niamey Process throughout the 2021 year allowed the Foundation to respond to the request of a partner in Niger to shape the foundations of a new continental initiative on democracy in Africa. However, the international health conditions have not allowed the launch of the process which has been postponed to 2022. 

The Founding Chairman continued his activities towards obtaining peace in Libya. However, as these activities related to conflict prevention and resolution, and are confidential in nature, details cannot be provided. To do otherwise could jeopardise the processes involved. Therefore, the evaluation of the measure of success can only take place in the long term, especially with regard to the return to peace. 

**10** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Financial review** 

The Foundation received financial contributions from donors and partners of £505,041 (9 months to 31 December 2020: £492,596) from: 

 the IDeA Foundation to support the design of the Young African Talent programme and for empowerment activities in the areas of health (Lomé Initiative) and Environment (preservation of the Congo Basin); 

 the Republic of Congo to support its work on falsified and substandard medicines (Lome initiative) and the Congo Basin preservation programmes, including the operations before, during and after COP26; 

- the start-up Localyze as unrestricted funds; 

- donations in kind from Allen & Overy, our partners in production of the SFM legal report; and 

- donations in kind from the Founding Chairman, Jean-Yves Ollivier, relating to direct expenses 

- incurred in his work on behalf of the Foundation as discussed below. 

## Diversification of income and fundraising 

Over the last five years, the financial commitment of a small number of private individuals, mainly the Founding Chairman, and public financial partners, have enabled the Foundation to implement ambitious programmes that have a high social and environmental impact. In order to develop its activities, the Foundation launched a funding-diversification campaign in 2021. Through this several contacts have been made and a significant number of meetings have been led, which, together with the creation of key marketing documents to improve clarity regarding the programmes and their perspectives for potential financial partners, has raised the profile of the Foundation significantly. 

## Figures at the end of the year 

The Foundation ended the 2021 year with the balance on the general funds being in deficit to the extent of £35,459 (31 December 2020: surplus of £205,367), mainly due to the expectation of a voluntary contribution which was delayed. The deficit on reserves is discussed further below. 

Mr. Ollivier has personally met all his own expenses incurred in his work on behalf of the Foundation. In the year, these costs amounted to £13,494 (9 months to 31 December 2020 £9,312) These expenses are treated as a pro bono donation in these accounts, and relate mainly to the following: 

- The follow-up of the Lomé Initiative with the Heads of state of the participating countries; 

- The follow-up of the Congo Basin Blue Fund as Goodwill Ambassador (named by the Heads of State summit of the CBCC in 2018); 

- Support to the fundraising. 

In the year, Mr Ollivier loaned a sum of £81,492 to the Foundation to assist with cash flow. This was repaid in the New Year. 

**11** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Plans for future periods** 

## **Implementation of the Lomé Initiative** 

In 2022, the Foundation will continue to work on the implementation of the Lomé Initiative including accompanying countries in the signature and ratification of the MEDICRIME Convention and the African Medicines Agency (AMA) Treaty, to ensure effective criminalisation and encouraging other African countries to join. 

The political coordinator, the Health Minister of the Republic of Togo, and the Foundation also intend to integrate new countries in the Lomé Initiative, following the process of adhesion. 

Also, while continuing the political and technical coordination work of the Lomé Initiative, the Ministry of Health, Public Hygiene and Access to Care of the Republic of Togo and the Brazzaville Foundation wish to launch a pilot project in Togo to model the working methodology, which it is proposed will be replicated in other countries in the design and implementation of national action plans, a major step in the implementation of the commitments made. 

## **Advocacy on the Congo Basin and the urgency to preserve it** 

The Foundation will support the work underway to make the Congo Basin Blue Fund an effective instrument capable of financing sustainable development in 16 African countries, while reducing pressure to exploit the forests of the Congo Basin, thus mitigating the effects of global warming. The Foundation will mainly support advocacy for the Congo Basin and marketing to promote the Fund internationally. 

## **Launch of the Young African Talent** 

The Foundation proposes to launch the Young African Young Talent programme in the course of the year. This will consist of identifying young African talents to integrate them into the Foundation's professional centres with a view to promoting the program in the public and private spheres. 

## **Parallel projects** 

The Foundation will also work on developing parallel projects as an initiative to help democracy take root in Africa by identifying the type of governance best suited to the continent's requirements. By the end of 2022, the Foundation aims to formalise the working relationship with the partners on the continent and work jointly on the initiative with a view to launching it officially at the beginning 2023. 

It is proposed that a consultation of the African youth may take place before the end of the 2022 year. This event would aim at providing a space for youth representatives from African Union member states to discuss issues affecting their daily lives and future, and propose recommendations to enrich existing policies. 

In parallel, the Foundation will continue to support rapprochement and reconciliation in Libya and, if the political and security situation allows it, will seek to organise a further meeting to broaden and deepen the dialogue begun at the meeting it organised in Dakar in May 2018. 

**12** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Plans for future periods** _**(continued)**_ 

## **Going concern** 

The Trustees have reviewed the ongoing expenditure since the year end, together with the anticipated income and expenses for the next twelve months and are satisfied that it is appropriate to prepare the Foundation's accounts on the going concern basis. Since the year end the Foundation's funds have returned to a surplus. 

## **Reserves Policy** 

The Foundation has a deficit on unrestricted reserves at the end of the reporting period of £35,459 (31 December 2020 a surplus of £170,543). The Trustees consider that, due to the exceptional nature of the recent years and the expected contributions, the reserves can temporarily be reduced, specifically in light of the support and loan received from Mr. Ollivier, the Chairman and main benefactor of the Foundation. Notwithstanding this, the aim is to increase the reserves such that the Foundation is holding at least four months' future operating costs as soon as possible. 

The Foundation is working hard to raise funds for both ongoing operating costs and project work and the Trustees anticipate that existing cash funds, both restricted and unrestricted, will support existing costs and short-term plans. 

**13** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Trustees' responsibilities statement** 

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. 

In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the applicable Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material 

- departures disclosed and explained in the financial statements, and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume 

- that the charity will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

This report has been prepared in compliance with the duty in Section 17(5) of the Charities Act 2011, to have regard to the public benefit guidance published by the Charity Commission. 

The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice for Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(effective 1 January 2019). 

## **Auditor** 

Each of the persons who is a trustee at the date of approval of this report confirms that: 

- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and 

- they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. 

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006. 

**14** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Small company provisions** 

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

The trustees' annual report was approved on 26 September 2022 and signed on behalf of the board of trustees by: 

Mr Charles A Carr Trustee 

**15** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Independent Auditor's Report to the Members of The Brazzaville Foundation** 

## **Year ended 31 December 2021** 

## **Opinion** 

We have audited the financial statements of The Brazzaville Foundation (the 'charity') for the year ended 31 December 2021 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- 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 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 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 trustees with respect to going concern are described in the relevant sections of this report. 

**16** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Independent Auditor's Report to the Members of The Brazzaville Foundation** 

_**(continued)**_ 

## **Year ended 31 December 2021** 

## **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. 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. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the trustees' report has been prepared in accordance with applicable legal requirements. 

## **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' report. 

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

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report. 

**17** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

**Independent Auditor's Report to the Members of The Brazzaville Foundation** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Responsibilities of trustees** 

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors 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 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 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. 

**18** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

**Independent Auditor's Report to the Members of The Brazzaville Foundation** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **Auditor's 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 is detailed below: 

Based on our understanding of the entity and sector in which it operates, we identified the principal risks of non-compliance with laws and regulations relating to charitable companies and the application of charitable funds. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. 

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud may occur, by making enquiries of the trustees and management as to where they considered there was susceptibility to fraud and considering the internal controls in place to mitigate fraud risks and non-compliance with laws and regulations. 

In response to the risk of fraud through management bias (including the risk of override of controls) and the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 

- performing analytical procedures to identify unusual or unexpected transactions 

- assessing whether judgements and assumptions made in determining accounting estimates were 

- indicative of potential bias 

- reviewed a sample of transactions from the client's records for proper authorisation 

- test checking the appropriateness of journal entries 

- agreeing financial statement disclosures to the underlying supporting documentation 

- checking for correspondence with the Charity Commission 

- reading the minutes of Trustees meetings 

- checking for any actual and potential litigation and claims including inspecting legal costs 

There are inherent limitations in our audit procedures outlined above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. We 

**19** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Independent Auditor's Report to the Members of The Brazzaville Foundation** 

_**(continued)**_ 

## **Year ended 31 December 2021** 

are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

- Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

**20** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

**Independent Auditor's Report to the Members of The Brazzaville Foundation** _**(continued)**_ 

## **Year ended 31 December 2021** 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## **Use of our report** 

This report is made solely to the charity'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. 

Philip Dean BA FCA (Senior Statutory Auditor) 

For and on behalf of Hicks and Company Chartered accountants & statutory auditor Vaughan Chambers Vaughan Road Harpenden Hertfordshire AL5 4EE 

26 Sep 22 

**21** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Statement of Financial Activities (including income and expenditure account)** 

## **Year ended 31 December 2021** 

||||||Period from|
|---|---|---|---|---|---|
||||||2 Apr 20 to|
|||**Year**|**to** **31 Dec 21**||31 Dec 20|
|||Unrestricted|Restricted|||
|||funds|funds**Total funds**||Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**5**|296,871|178,190|475,060|502,596|
|Charitable activities|**6**|29,980|–|29,980|–|
|Investment income|**7**|–|101|101|435|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Total income**||326,851|178,291|505,141|503,031|
|||================================|================================|================================|================================|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of raising donations and||||||
|legacies|**8**|58,107|–|58,107|39,179|
|Expenditure on charitable activities|**9,10**|387,307|300,554|687,860|522,777|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Total expenditure**||445,414|300,554|745,967|561,956|
|||================================|================================|================================|================================|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Net expenditure**||(118,563)|(122,263)|(240,826)|(58,925)|
|||================================|================================|================================|================================|
|Transfers between funds||(87,439)|87,439|–|–|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Net movement in funds**||(206,002)|(34,824)|(240,826)|(58,925)|
|**Reconciliation of funds**||||||
|Total funds brought forward||170,543|34,824|205,367|264,293|
|||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
|**Total funds carried forward**||(35,459)|–|(35,459)|205,367|
|||================================|================================|================================|================================|



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

**The notes on pages 25 to 41 form part of these financial statements.** 

**22** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Statement of Financial Position** 

## **31 December 2021** 

|**The Brazzaville Foundation**<br>**Company Limited by Guarantee**<br>**Statement of Financial Position**<br>**31 December 2021**||||
|---|---|---|---|
|||**2021**|2020|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**16**|5,924|9,833|
|**Current assets**||||
|Debtors|**17**|7,155|19,696|
|Cash at bank and in hand||87,189|210,103|
|||----------------------------|--------------------------------|
|||94,344|229,799|
|**Creditors: amounts falling due within one year**|**18**|135,727|34,265|
|||--------------------------------|--------------------------------|
|**Net current liabilities**||(41,383)|195,534|
|||----------------------------|--------------------------------|
|**Total assets less current liabilities**||(35,459)|205,367|
|||----------------------------|--------------------------------|
|**Net liabilities**||(35,459)|205,367|
|||============================|================================|
|**Funds of the charity**||||
|Restricted funds||–|34,824|
|Unrestricted funds||(35,459)|170,543|
|||----------------------------|--------------------------------|
|**Total charity funds**|**21**|(35,459)<br>============================|205,367<br>================================|



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

These financial statements were approved by the board of trustees and authorised for issue on 26 Sep 22, and are signed on behalf of the board by: 

Mr Charles A Carr Trustee 

**The notes on pages 25 to 41 form part of these financial statements.** 

**23** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Statement of Cash Flows** 

## **Year ended 31 December 2021** 

|**The Brazzaville Foundation**<br>**Company Limited by Guarantee**<br>**Statement of Cash Flows**<br>**Year ended 31 December 2021**|||
|---|---|---|
||**2021**|2020|
||**£**|£|
|**Cash flows from operating activities**|||
|Net expenditure|(240,826)|(58,925)|
|_Adjustments for:_|||
|Depreciation of tangible fixed assets|3,909|652|
|Government grant income|–|(10,000)|
|Other interest receivable and similar income|(101)|(435)|
|Accrued expenses/(income)|2,888|(47,408)|
|_Changes in:_|||
|Trade and other debtors|12,541|20,016|
|Trade and other creditors|98,575|(179,230)|
||--------------------------------|--------------------------------|
|Cash generated from operations|(123,014)|(275,330)|
|Interest received|101|435|
||--------------------------------|--------------------------------|
|Net cash used in operating activities|(122,913)|(274,895)|
||================================|================================|
|**Cash flows from investing activities**|||
|Purchase of tangible assets|–|(10,485)|
||--------------------------------|--------------------------------|
|Net cash used in investing activities|–|(10,485)|
||================================|================================|
|**Cash flows from financing activities**|||
|Government grant income|–|10,000|
||--------------------------------|--------------------------------|
|Net cash from financing activities|–|10,000|
||================================|================================|
|**Net decrease in cash and cash equivalents**|(122,913)|(275,380)|
|**Cash and cash equivalents at beginning of year**|210,103|485,483|
||--------------------------------|--------------------------------|
|**Cash and cash equivalents at end of year**|87,190|210,103|
||================================|================================|



**The notes on pages 25 to 41 form part of these financial statements.** 

**24** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** 

## **Year ended 31 December 2021** 

## **1. General information** 

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 17 Oval Way, London, SE11 5RR. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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) (Charities SORP (FRS 102)) and the Companies Act 2006. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared under the historical cost convention. 

The financial statements are prepared in sterling, which is the functional currency of the entity. The amounts are rounded to the nearest pound. 

## **Going concern** 

At the time of approving the accounts the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing these accounts. 

## **Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## Significant judgements 

There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have a significant effect on the amounts recognised in the financial statements. 

Key sources of estimation uncertainty 

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 

**25** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **3. Accounting policies** _**(continued)**_ 

## **Foreign currencies** 

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

Donations have been received in the year creating a restricted fund for use only in the work against falsified and substandard medicines, Africa Young Talents and Environmental Conservation.  The remaining funds received are considered by the Trustees to be unrestricted and are available for use at the discretion of the Trustees to further any of the charity's purposes.  The Trustees have considered the activities of the charity and consider there to be six activities in the year, the work on falsified and substandard medicines, and Youth Engagement relating to falsified and substandard medicines, work on conflict prevention in Africa, Environmental conservation in Africa, an Ambassadorial project, working with the wider Advisory Board, work with African Young Talents and the annual meeting of the Advisory Board, the latter involving fund raising activities. 

## **Incoming resources** 

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. 

The charity's income consists of donations receivable and other income from charitable activities. 

The following specific policies are applied to particular categories of income: 

- income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. 

The charity is exempt from corporation tax on its charitable activities. 

**26** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **3. Accounting policies** _**(continued)**_ 

## **Resources expended** 

Expenditure is incurred in pursuit of the charity's objects of peace and conservation and is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates. 

Expenditure on raising funds includes a percentage of the annual Advisory Board costs and of the support costs allocated to the Advisory Board as discussed below. 

Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Operating leases** 

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities.  A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Equipment - 33% straight line 

**27** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **3. Accounting policies** _**(continued)**_ 

## **Impairment of fixed assets** 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 

## **Government grant** 

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grant will be received. These grants are made voluntarily by the governments of the states involved in the Foundation's initiatives and programmes. 

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. 

**28** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **3. Accounting policies** _**(continued)**_ 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 

## **Defined contribution plans** 

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. 

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 

## **4. Limited by guarantee** 

The Brazzaville Foundation is incorporated as a company limited by guarantee not having any share capital. 

## **5. Donations and legacies** 

|**Donations and legacies**||||
|---|---|---|---|
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2021**|
||£|£|**£**|
|**Donations**||||
|Donations UK|34,823|–|34,823|
|Donations non-UK|262,048|178,190|440,237|



**29** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **5. Donations and legacies** _**(continued)**_ 

|**Donations and legacies** **_(continued)_**||||
|---|---|---|---|
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2021**|
||£|£|**£**|
|**Grants**||||
|Government voluntary contributions|–|–|–|
||--------------------------------|--------------------------------|--------------------------------|
||296,871|178,190|475,060|
||================================|================================|================================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2020|
||£|£|£|
|**Donations**||||
|Donations UK|–|122,175|122,175|
|Donations non-UK|196,896|173,525|370,421|
|**Grants**||||
|Government voluntary contributions|10,000|–|10,000|
||--------------------------------|--------------------------------|--------------------------------|
||206,896|295,700|502,596|
||================================|================================|================================|



Allen & Overy donated their legal expertise to the Foundation to assist with the legal audit for the Lome initiative. This is included in the accounts at a value of £34,823 (2020: £122,175). 

As in prior years Mr Ollivier has met personally all of his own expenses incurred in his work on behalf of the Foundation. These expenses have been included in the accounts at their value to the charity where they are incurred exclusively for the charity. Other costs incurred by Mr Ollivier have been included in these accounts where the amounts can be quantified. 

## **6. Charitable activities** 

|**6.**|**Charitable activities**|||||
|---|---|---|---|---|---|
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2021**|Funds|2020|
|||£|**£**|£|£|
||Other income from charitable activities|29,980|29,980|–|–|
|||============================|============================|==============|==============|
|**7.**|**Investment income**|||||
|||Restricted|**Total Funds**|Restricted|Total Funds|
|||Funds|**2021**|Funds|2020|
|||£|**£**|£|£|
||Bank interest receivable|101|101|435|435|
|||==============|==============|==============|==============|
|**8.**|**Costs of raising donations and legacies**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2021**|
||||£|£|**£**|
||||58,107|–|58,107|
||||============================|==============|============================|



**30** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **8. Costs of raising donations and legacies** _**(continued)**_ 

|Unrestricted|Restricted|Total Funds|
|---|---|---|
|Funds|Funds|2020|
|£|£|£|
|27,121|12,058|39,179|
|============================|============================|============================|



In the year to December 2021 the costs of raising donations consist of part of the CEO's salary and associated travel costs, fundraising consultancy fees and part of the costs of the 5-year Corporate Report.  These fees relate to all the charitable activities of the Foundation, but in particular that of Falsified and substandard medicines and Environmental Conservation. 

No Advisory Board Meeting took place in the year to 31 December 2021 due to the Covid-19 Pandemic. 

In the period to 31 December 2020 the costs of raising donations related to fundraising consultancy fees incurred both in relation to the Youth Engagement initiative as part of the falsified and substandard medicines work and the Lome summit, and in relation to the overall fundraising strategy of the Foundation. 

**31** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **9. Expenditure on charitable activities by fund type** 

|**Expenditure on charitable activities by fund type**||||
|---|---|---|---|
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2021**|
||£|£|**£**|
|Falsified and substandard medicines & Youth||||
|Engagement|52,798|53,325|106,123|
|Advisory Board meeting|–|–|–|
|Charitable activities - programmatic development|2,753|–|2,753|
|Conflict Prevention|570|–|570|
|Environmental Conservation|127,058|44,480|171,539|
|Ambassadorial project|4,780|–|4,780|
|African Young Talents Projects|2,787|13,053|15,840|
|The Niamey Process|–|28,378|28,378|
|Support costs|196,561|161,318|357,877|
||--------------------------------|--------------------------------|--------------------------------|
||387,307|300,554|687,860|
||================================|================================|================================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2020|
||£|£|£|
|Falsified and substandard medicines & Youth||||
|Engagement|15,837|181,845|197,682|
|Advisory Board meeting|1,006|–|1,006|
|Charitable activities - programmatic development|2,069|–|2,069|
|Conflict Prevention|1,466|–|1,466|
|Environmental Conservation|5,239|–|5,239|
|Ambassadorial project|3,309|–|3,309|
|African Young Talents Projects|4,635|–|4,635|
|The Niamey Process|–|–|–|
|Support costs|166,462|140,910|307,371|
||--------------------------------|--------------------------------|--------------------------------|
||200,023|322,755|522,777|
||================================|================================|================================|



In this period there were two restricted funds: - the Lome Initiative Fund in relation to combatting falsified and substandard medicines and the IDeA fund relating to the launch of the African Young Talents Programme designed directly by the Brazzaville Foundation and to support the education and empowerment dimensions of the Foundations other programmes. 

The expenditure on each of these funds is outlined in Note 21.  Support costs and Advisory Board Meeting costs exclude those costs of £4,294 (2020: £3,377) attributed to the costs of raising donations and legacies. 

**32** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **10. Expenditure on charitable activities by activity type** 

||Activities||||
|---|---|---|---|---|
||undertaken|Support|**Total funds**|Total fund|
||directly|costs|**2021**|2020|
||£|£|**£**|£|
|Falsified and substandard medicines &|||||
|Youth Engagement|106,123|71,988|178,111|384,775|
|Advisory Board meeting|–|–|–|1,006|
|Charitable activities - programmatic|||||
|development|2,753|–|2,753|2,069|
|Conflict Prevention|570|4,787|5,357|6,368|
|Environmental Conservation|171,539|139,659|311,198|17,858|
|Ambassadorial project|4,780|37,537|42,317|38,496|
|African Young Talents Projects|15,840|63,506|79,346|33,169|
|The Niamey Process|28,378|6,917|35,295|–|
|Governance costs|–|33,483|33,483|39,036|
||--------------------------------|--------------------------------|--------------------------------|--------------------------------|
||329,983|357,877|687,860|522,777|
||================================|================================|================================|================================|



Governance and support costs exclude costs of £4,294 (2020: £3.377) attributed to costs of raising donations. 

**33** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **11. Analysis of support costs** 

|**Analysis of support costs**||||||||||
|---|---|---|---|---|---|---|---|---|---|
||Falsified|||||||||
||and|||||||||
||substandard|||||||||
||medicines,|||Environmen||African|Analysis of|||
||Youth|||tal||Young|support|||
||Engagemen|Allocated to|Conflict|Conservatio|Ambassado|Talents|costs|||
||t|<br>Fund raising|Prevention|n|rial Project|Project|activity 8|**Total 2021**|Total 2020|
||£|£|£|£|£|£|£|**£**|£|
|Staff costs|23,169|<br>–|1,847|44,088|11,604|19,724|2,138|102,570|91,251|
|Premises|11,344|<br>–|91|23,877|6,953|11,564|1,281|55,110|41,798|
|Communications and IT|952|<br>–|14|1,984|573|955|106|4,584|1,319|
|General office|9,244|<br>–|125|19,313|5,586|9,303|1,029|44,600|17,949|
|Finance costs|742|<br>–|6|1,562|455|756|84|3,605|4,919|
|Governance costs|6,893|<br>4,294|56|14,508|4,225|7,026|778|37,780|39,041|
|Professional fees|2,066|<br>–|17|4,349|1,266|2,106|233|10,037|10,143|
|Marketing & PR|23,962|<br>–|2,683|43,417|10,793|18,585|1,988|101,428|98,909|
|Foreign exchange costs|506|<br>–|4|1,065|310|516|57|2,458|2,049|
||----------------------------|-----------------------|-----------------------|--------------------------------|----------------------------|----------------------------|-----------------------|--------------------------------|--------------------------------|
||78,878|<br>4,294|4,843|154,163|41,765|70,535|7,694|362,172|307,378|
||============================|=======================|=======================|================================|============================|============================|=======================|================================|================================|



**34** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **11. Analysis of support costs** _**(continued)**_ 

In the period to 31 December 2021 the overall charitable activities were significant notwithstanding the effects of the Covid-19 pandemic.  Continuing with the work on falsified and substandard medicines, the Lome initiative, the Foundation also devoted a consequent amount of time to the Congo Basin Blue Fund, supporting the Congo Basin Climate Commission’s advocacy and communication strategy, and the Blue Fund’s marketing and branding strategy ahead of the COP26 in Glasgow. The cost accounting system developed in 2020 allows the recording the costs of the different activities more accurately and has enabled salaries to be directly allocated to an activity on a monthly basis. 

The costs of the production of the Corporate Report have been specifically allocated to activities in accordance with the number of pages in the report, including governance and support. Support costs, including those Corporate Report costs not allocated to other activities, have then been allocated to charitable activities in accordance with the hours spent on that activity in the period. The Trustees have agreed that the use of hours spent better reflects the true allocation of costs. 

The costs donated by Mr Ollivier are omitted from the calculations to attribute support costs as the Trustees do not consider the support costs incurred by the Foundation relevant to the activities directly organised and paid for by Mr Ollivier. 

**35** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **12. Net expenditure** 

Net expenditure is stated after charging/(crediting): 

|Net expenditure is stated after charging/(crediting):|||
|---|---|---|
||**2021**|2020|
||**£**|£|
|Depreciation of tangible fixed assets|3,909|652|
|Foreign exchange differences|2,457|2,049|
||=======================|=======================|
|**Auditors remuneration**|||
|||Period from|
||**Year to**|2 Apr 20 to|
||**31 Dec 21**|31 Dec 20|
||**£**|£|
|Fees payable for the audit of the financial statements|4,752|3,960|
||=======================|=======================|



## **13. Auditors remuneration** 

## **14. Staff costs** 

The total staff costs and employee benefits for the reporting period are analysed as follows: 

|||Period from|
|---|---|---|
||**Year to**|2 Apr 20 to|
||**31 Dec 21**|31 Dec 20|
||**£**|£|
|Wages and salaries|231,507|156,533|
|Social security costs|20,009|12,768|
|Employer contributions to pension plans|3,294|1,527|
||--------------------------------|--------------------------------|
||254,810|170,828|
||================================|================================|



The average head count of employees during the year was 5 (2020: 4). The average number of full-time equivalent employees during the year is analysed as follows: 

||**2021**|<br>2020|
|---|---|---|
||**No.**|No.|
|Number of staff - Administration|2|2|
|Number of staff - Charitable activities|3|2|
||--------------|--------------|
||5|4|
||==============|==============|
|The number of employees whose remuneration for the year fell within the following||bands, were:|
||**2021**|<br>2020|
||**No.**|No.|
|£70,000 to £79,999|–|1|
|£120,000 to £129,999|1|–|
||--------------|--------------|
||1|1|
||==============|==============|



## **Key Management Personnel** 

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. 

**36** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **15. Trustee remuneration and expenses** 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees except as outlined in Note 24. 

## **16. Tangible fixed assets** 

|**Tangible fixed assets**|||
|---|---|---|
|||**Equipment**|
|||**£**|
|**Cost**|||
|**At 1 January 2021 and 31 December 2021**||11,544|
|||============================|
|**Depreciation**|||
|At 1 January 2021||1,711|
|Charge for the year||3,909|
|||----------------------------|
|**At 31 December 2021**||5,620|
|||============================|
|**Carrying amount**|||
|**At 31 December 2021**||5,924|
|||============================|
|At 31 December 2020||9,833|
|||============================|
|**Debtors**|||
||**2021**|2020|
||**£**|£|
|Prepayments and accrued income|3,058|7,992|
|Other debtors|4,097|11,704|
||-----------------------|----------------------------|
||7,155|19,696|
||=======================|============================|
|**Creditors:** **amounts falling due within one year**|||
||**2021**|2020|
||**£**|£|
|Trade creditors|34,293|24,638|
|Accruals and deferred income|12,514|9,627|
|Social security and other taxes|7,427|–|
|Other creditors - Owed to Jean-Yves Ollivier|81,493|–|
||--------------------------------|----------------------------|
||135,727|34,265|
||================================|============================|



## **17. Debtors** 

## **18. Creditors: amounts falling due within one year** 

Mr Ollivier loaned additional funds to the Foundation of £81,493 in December 2021. These funds were repaid in the New Year. 

## **19. Pensions and other post retirement benefits** 

## **Defined contribution plans** 

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,294 (2020: £1,527). 

**37** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **20. Government grants** 

The amounts recognised in the financial statements for government grants are as follows: 

||**2021**|2020|
|---|---|---|
||**£**|£|
|Recognised in income from donations and legacies:|||
|Government grants income|–|10,000|
||==============|============================|



## **21. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||At||||At|
||1 January||||31 December|
||2021|Income|Expenditure|Transfers|2021|
||£|£|£|£|£|
|General funds|170,543|326,851|(445,414)|(87,439)|<br>(35,459)|
||================================|================================|================================|============================|============================|
||||||At|
||At||||31 December|
||2 April 2020|Income|Expenditure|Transfers|2020|
||£|£|£|£|£|
|General funds|190,791|206,896|(227,144)|–|170,543|
||================================|================================|================================|==============|================================|
|**Restricted funds**||||||
||At||||At|
||1 January||||31 December|
||2021|Income|Expenditure|Transfers|2021|
||£|£|£|£|£|
|Falsified and||||||
|substandard medicines||||||
|Restricted Fund|34,824|–|(103,004)|68,180|–|
|IDeA restricted fund|–|178,291|(197,550)|19,259|–|
||----------------------------|--------------------------------|--------------------------------|----------------------------|--------------|
||34,824|178,291|(300,554)|87,439|–|
||============================|================================|================================|============================|==============|
||||||At|
||At||||31 December|
||2 April 2020|Income|Expenditure|Transfers|2020|
||£|£|£|£|£|
|Falsified and||||||
|substandard medicines||||||
|Restricted Fund|73,502|296,135|(334,813)|–|34,824|
|IDeA restricted fund|–|–|–|–|–|
||----------------------------|--------------------------------|--------------------------------|--------------|----------------------------|
||73,502|296,135|(334,813)|–|34,824|
||============================|================================|================================|==============|============================|



**38** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **21. Analysis of charitable funds** _**(continued)**_ 

The Brazzaville Foundation had two restricted funds in the year, the funds from which have now been spent on the charitable activities as set out in the donation restrictions. 

## The Lome Initiative Fund 

Following the launch of the Lome initiative on 18 January 2020, six African countries made a commitment to combatting falsified and substandard medicines. The Brazzaville Foundation is the project manager of the programme and, as such, is responsible for the technical co-ordination. In order to support the Foundation in its role, the signatory countries made a voluntary contribution aimed as assisting the development of the initiative. 

## The IDeA Fund 

In January 2021, the IDeA Foundation, a multifaceted not-for-profit charitable foundation incorporated in Armenia, granted the Brazzaville Foundation a donation of USD$250,000 (GPB £178,190). The scope of the donation covers: 

- support of the launch of the African Young Talents Programme designed by the Brazzaville 

- Foundation, and 

- support for the educational and empowerment dimensions of the Foundation's other 

- programmes in the fields of health and environment. 

## **22. Analysis of net assets between funds** 

|**Analysis of net assets between funds**||||
|---|---|---|---|
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2021**|
||£|£|**£**|
|Tangible fixed assets|5,924|–|5,924|
|Current assets|94,344|–|94,344|
|Creditors less than 1 year|(135,727)|–|(135,727)|
||--------------------------------|--------------|--------------------------------|
|**Net liabilities**|(35,459)|–|(35,459)|
||================================|==============|================================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2020|
||£|£|£|
|Tangible fixed assets|9,833|–|9,833|
|Current assets|194,975|34,824|229,799|
|Creditors less than 1 year|(34,265)|–|(34,265)|
||--------------------------------|----------------------------|--------------------------------|
|**Net liabilities**|170,543|34,824|205,367|
||================================|============================|================================|



**39** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **23. Financial instruments** 

The carrying amount for each category of financial instrument is as follows: 

||||**2021**||2020|
|---|---|---|---|---|---|
||||**£**||£|
||**Financial assets that are debt instruments measured at amortised cost**|||||
||Financial assets that are debt instruments measured at|amortised||||
||cost||7,155|19,696||
||||=======================|============================||
||**Financial liabilities measured at amortised cost**|||||
||Financial liabilities measured at amortised cost||54,235|34,264||
||||============================|============================||
||**Loan commitments measured at cost less impairment**|||||
||Loan commitments measured at cost less impairment||81,492||–|
||||============================||==============|
|**24.**|**Analysis of changes in net debt**|||||
|||At||**At**||
|||1 Jan 2021|Cash flows|**31 Dec**|**2021**|
|||£|£||**£**|
||Cash at bank and in hand|210,103|(122,914)|<br>87,189||
|||================================|================================|============================||



## **25. Operating lease commitments** 

|**Operating lease commitments**|**Operating lease commitments**|**Operating lease commitments**|
|---|---|---|
|The total future minimum lease payments under non-cancellable operating leases are as follows:|||
||**2021**|2020|
||**£**|£|
|Not later than 1 year|48,501|–|
|Later than 1 year and not later than 5 years|141,462|–|
||--------------------------------|--------------|
||189,963|–|
||================================|==============|



**40** 



## **The Brazzaville Foundation** 

## **Company Limited by Guarantee** 

## **Notes to the Detailed Statement of Financial Activities** _**(continued)**_ 

## **Year ended 31 December 2021** 

## **26. Related parties** 

Mr Jean-Yves Ollivier remains a significant donor to The Brazzaville Foundation in the year. The amounts donated by Mr Ollivier in the year were £13,494 (2020: £201,561). 

In the year Mr Ollivier loaned a sum of £81,492 to the Foundation. The loan was interest free. 

No remuneration has been paid to the Trustees nor have any received any benefits from the charity. During the year, Mr Ollivier waived travel and accommodation expenses of £13,494 (2020: £9,312) in relation to the fight against falsified and substandard medicines programme, the Congo Basin Blue Fund as well as the development of new programmes. These expenses have been included in the accounts as a donation received from Mr Ollivier. Other costs incurred by Mr Ollivier have been included in these accounts where the amounts can be quantified. 

Mr Matthew Carr, brother to Mr Charles Carr, Trustee, was paid £5,000 (2020 £45,000) in the period for his work of preparation of the fundraising campaign. 

No other trustee was reimbursed for any expenses incurred. 

**41**