## ## ## |||Page| |---|---|---| |Reference and Administrative
Details ofthe Charity, its Trustees and Advisers||| |Trustees'
Report (including
Strategic Report)||2-6| |Statement ofTrustees'|Responsibilities|| |Independent
Auditors'|Report on the Financial Statements|8-11| |Statement of Financial|Activities|12| |Balance Sheet||13| |Statement ofCash Flows||14| |Notes to the Financial|Statements|15-23| ## ## |Trustees|||Marina
Medley De Sh|Marina
Medley De Sh|Marina
Medley De Sh|| |---|---|---|---|---|---|---| ||||Teutly Correia|||| ||||Claudio Garcia|||| ||||Christian
Telles|||| ||||Fabrizzia Telles|||| ||||Marcel Herrmann||Telles|| ||||Max Telles|||| |Members|||Marcel Herrmann||Telles|| ||||Fabrizzia Telles|||| ||||Christian
Telles|||| ||||Max Telles|||| |Company|registered|||||| |number|||09578830|||| |Charity registered||||||| |number|||1165054|||| |Registered||office|One Bartholomew||Close|| ||||London|||| ||||EC1A 7BL|||| |Company|secretary||Broadway Secretaries|||Limited| |Independent||auditors|MHA|||| ||||Statutory
Auditors|||| ||||6th Floor|||| ||||2 London Wall Place|||'| ||||London,
United|Kingdom||| ||||EC2Y 5AU|||| |Solicitors|||BDBPitmans
LLP|||| ||||One Bartholomew||Close|| ||||London|||| ||||EC1A 7BL|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Unrestricted|Total|Total| |---|---|---|---|---|---|---|---| ||||||funds|funds|funds| ||||||2022|2022|2021| |||||Note|$|$|$| |income from:|||||||| |Grants||||4|20,000,000|20,000,000|| |Investments||||5|30,921|30,921|2,835| |Total income|||||20,030,921|20,030,921|2,835| |Expenditure
on:|||||||| |Charitable
activities||||7|1,671,127|1,671,127|30,434,475| |Total expenditure|||||1,671,127|1,671,127|30,434,475| |Net income/(expenditure)|||before net gains on||||| |investments|||||18,359,794|18,359,794|(30,431,640)| |Net gains on investments|||||||551| |Net movement|in funds before other recognised||||||| |gains/(losses)|||||18,359,794|18,359,794|(30,431,089)| |Other recognised||gains/(losses):|||||| |Loss on foreign|exchange||||(9,326)|(9,326)|(1,745)| |Net movement|in funds||||18,350,468|18,350,468|(30,432,834)| |Reconciliation|offunds:||||||| |Total funds brought||forward|||(12,144,950)|(12,144,950)|18,287,884| |Net movement|in funds||||18,350,468|18,350,468|(30,432,834)| |Total funds carried forward|||||6,205,518|6,205,518|(12,144,950)| ## ## |||||2022|2022|2021|2021| |---|---|---|---|---|---|---|---| ||||Note|$|$|$|$| |Current assets|||||||| |Cash at bank and in hand||||6,589,816 .||6,069,936|| |Creditors: Amounts|falling|due within one|||||| |year|||10|(384,298)||(17,682,727)|| |Net current assets|I liabilites||||6,205,518||(11,612,791)| |Total assets less current||liabilities|||6,205,518||(11,612,791)| |Creditors: Amounts|falling|due after more|||||| |than one year|||||||(532,159)| |Total net assets|||||6,205,518||(12,144,950)| |Charity funds|||||||| |Unrestricted
funds|||||6,205,518||(12,144,950)| |Total funds|||||6,205,518||(12,144,950)| ## ## ## ||||||2022|2021| |---|---|---|---|---|---|---| |||||Note||$| |Cash flows from operating|activities|||||| |Net cash used in operating|activities|||12|488,959|(1,449,271)| |Cash flows from investing|activities|||||| |Investment
income|||||30,921|2,835| |Proceeds from sale offixed|asset investments|||||11,003,073| |Purchase offixed asset investments||||||(6,001,385)| |Net movement
on current asset investments||||||1,000,094| |Net cash provided
by investing
activities|||||30,921|6,004,617| |Change
in cash and cash|equivalents
in the year||||519,880|4,555,346| |Cash and cash equivalents|at the beginning|ofthe year|||6,069,936|1,514,590| |Cash and cash equivalents|at the end ofthe year|||13|6,589,816|6,069,936| |The notes on pages 15to 23form part ofthese financial|||statements|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Unrestricted|Total|Total| |---|---|---|---|---|---|---|---| ||||||funds|funds|funds| ||||||2022|2022|2021| ||||||$|$|$| |Grants|||||20,000,000|20,000,000|| |Investment||income|||||| |||||||Unrestricted|Total| |||||||funds|funds| |||||||2022|2022| |||||||$|$| |Bank and|investment|||interest receivable||30,921|30,921| |||||||Unrestricted|Total| |||||||funds|funds| |||||||2021|2021| |||||||$|$| |Bank and|investment|||interest receivable||2,835|2,835| |Grant funding|||ofactivities||||| |||||||2022|2021| |||||||$|$| |Current year||grant commitments||||1,163,705|31,223,182| |Refunds|received on|||current year grant commitments||(193)|(336,097)| |Refunds|received on|||prior year grant commitments||(476,669)|(206,706)| |Adjustments||to|prior|year commitments||40,020|(30,876)| |Realised|loss/(gain)|||on foreign exchange||775,385|(481,873)| |Total grant||funding||ofactivities (Note 7)||1,502,248|30,167,630| ## ## ## ## ## ## |Activities|Grant||| |---|---|---|---| |undertaken|funding
of|Support|Total| |directly|activities|costs|funds| |2022|2022|2022|2022| |$|$|$|$| |71,900|1,502,248|96,979|1,671,127| |Grant||| |---|---|---| |funding
ot|Support|Total| |activities|costs|funds| |2021|2021|2021| |$|$|$| |30,167,630|266,845|30,434,475| ## ## ## ## ||||||Total|Total| |---|---|---|---|---|---|---| ||||||funds|funds| ||||||2022|2021| ||||||$|$| |Governance|costs||||80,515|162,379| |Other costs|||||2,853|9,735| |Website design and development|||||2,742|6,071| |Travel costs|||||10,869|29,488| |Scholarship|event|||||59,172| ||||||96,979|266,845| |Governance|costs|||||| ||||||2022|2021| |||||||$| |Auditor's
remuneration||-Audit ofthe|financial|statements|9,900|| |Auditor's
remuneration||-Accounts preparation|||3,696|| |Professional|fees||||66,919|155,450| |Independent|Examiners|remuneration|-Current year remuneration|||4,020| |Independent|Examiners|remuneration|-Other|services||2,909| ||||||80,515|162,379| ## ## ## ## ## ## ## ## |12.|Reconciliation
of|net|net|movement|movement|movement|in funds|to net cash|flow from|operating|activities|| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||2022|2021| ||||||||||||$|$| ||Net income/expenditure||||for|the year (as per||Statement|of Financial|||| ||Activities)||||||||||18,359,794|(30,431,089)| ||Adjustments
for:|||||||||||| ||Gains on investments|||||||||||(551)| ||Investment
income||||||||||(30,921)|(2,835)| ||Decrease
in debtors|||||||||||20,000,000| ||(Decrease)/increase||in creditors|||||||10,11|(17,830,588)|8,986,949| ||Losses on foreign|exchange|||||||||(9,326)|(1,745)| ||Net cash provided||by/(used|||in)|operating|activities|||488,959|(1,449,271)| |13.|Analysis ofcash|and||cash||equivalents||||||| ||||||||||||2022|2021| ||||||||||||$|$| ||Cash
in hand||||||||||6,589,816|6,069,936| ||Total cash and cash|||equivalents|||||||6,589,816|6,069,936| |14.|Analysis ofchanges|||in|net|debt||||||| |||||||||||Ai1||At 31| ||||||||||January|||December| |||||||||||2022|Cash flows|2022| |||||||||||$|$|$| ||Cash at bank and|in|hand||||||6,069,936||519,880|6,589,816| ||||||||||6,069,936||519,880|6,589,816| ## ## ## ## ||||||2022|2021| |---|---|---|---|---|---|---| ||||||$|$| |Marina|Medley De SA - Sonho Grande|||Institute||11,103,368| |Marcel|Herrmann|Telles - Ismart||||17,459,070| |Marcel|Herrmann|Telles - Fundaqao|Estudar||468,632|| ||||||468,632|28,562,438|