2022-12-31-accounts - Rainforest Trust UK

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CHARITY PROFILE AND KEY METRICS

Rainforest Trust UK works in partnership with Rainforest Trust in the U.S. to protect threatened rainforests and other tropical ecosystems for the benefit of endangered species, Indigenous communities and the climate. Rainforest Trust’s key global success indicators include:

More than 45 million acres of threatened rainforest and other tropical habitat have been placed under permanent protection, including over 6 million acres newly protected in 2022.

• Over 99% of the threatened rainforest that has been protected by Rainforest Trust since 1988 remains intact today.

• Saving the planet’s rainforests is one of the most important and cost-effective ways to fight climate change. By the end of 2022, Rainforest Trust projects had stored 5.8 billion mT of CO2e (equivalent to the annual emissions of 1.3 billion vehicles), with 183 million mT stored in 2022.

• In 2022 Rainforest Trust helped around 100 Indigenous and local communities gain legal rights to their traditional lands.

• By the end of 2022, Rainforest Trust projects had also provided safe havens for 458 threatened mammal species, 490 threatened bird species and 352 threatened amphibian species.

• Rainforest Trust aims to have protected (or be in the process of protecting) 125 million acres of threatened rainforests and other tropical habitat by the end of 2025. This includes a commitment to save at least 20 million acres of unprotected rainforest in the Brazilian Amazon.

Rainforest Trust UK’s Contribution to Global Conservation

• During 2022 Rainforest Trust UK raised £1,291,522 in donations (£1,137,356 restricted and £154,166 unrestricted) and £1,273 in investments, giving the charity a total income of £1,292,795 .

• These funds contributed to Rainforest Trust’s global income for 2022 of $39.5m . For more information on how this money has been used, please see Rainforest Trust’s Global Impact Report .

• Rainforest Trust UK guarantees that 100% of all donations made to specific projects and funds will go directly to the projects themselves (excluding transaction costs). We are able to achieve this as all our marketing and staff-related costs are covered by private donations and Gift Aid.

RAINFOREST TRUST UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Mission Statement - Aims and Objectives

Rainforest Trust UK is a British charity working in partnership with Rainforest Trust in the U.S. to protect the planet’s remaining rainforests and other tropical ecosystems. These biodiverse carbon-rich rainforests typically face a range of immediate threats, such as logging, mining, fossil fuel extraction and landclearing for cattle ranches and agricultural crops, and are often in need of urgent protection to prevent them from being destroyed. The areas protected by Rainforest Trust provide safe havens for hundreds of threatened species, support hundreds of Indigenous and local communities and store huge quantities of carbon, which helps protect the planet against climate change.

Rainforest Trust achieves this protection through long-term partnerships with trusted in-country NGOs and Indigenous communities, who are best placed to deliver the most effective on-theground conservation. Threatened forests and other tropical habitats are protected either through land purchase, via designation as legally protected areas (National Parks, Community Reserves, etc.) and by supporting Indigenous and local communities to secure legal land tenure and management rights of their territories. By the end of 2022 Rainforest Trust had already placed over 45 million acres of habitat under permanent protection in over 70 countries.

Rainforest protection is also one of the most impactful and cost-effective ways to fight climate change, as up to 15% of net global carbon emissions are caused by tropical deforestation – more than the global transportation sector. Our planet’s rainforests not only store billions of tonnes of carbon, they actively remove CO2 from the atmosphere through sequestration. Recent surveys also show that over 99% of the threatened rainforest we have protected since 1988 remains intact, showing the long-term effectiveness of Rainforest Trust’s conservation model.

Looking to the future, Rainforest Trust’s ambitious Strategic Plan aims to have protected (or be in the process of protecting) 125 million acres of threatened rainforests and other tropical habitat by the end of 2025, permanently locking up 15 billion metric tonnes (mT) of CO2 equivalents. We also aim to provide a lasting home for half of all known threatened bird and mammal species on Earth (and a fifth of all known threatened terrestrial and freshwater species), and to reach half a billion people with our message and mission.

Our work also benefits the Indigenous and local communities who live in the forested areas that Rainforest Trust protect. Every project we undertake is guided by the principle of free, prior and informed consent, which means we are always working with the active support of those who live within the borders of our protected areas. Some projects in Latin America also enable local Indigenous groups to regain the land titling to their ancestral territory, allowing them to protect their traditional homelands in harmony with the natural environment. These communities also benefit through the creation of sustainable economic opportunities for local men and women, including training as forest guardians, wildlife monitors and ecotourism guides. These protected areas also provide vital ecosystem services for Indigenous communities, such as clean water, sustainable building materials and protection against landslides and floods.

Rainforest Trust has also launched its new strategy to Save the Brazilian Amazon, in response to the change in government in that country at the beginning of 2023, and the opportunities this creates for long-term rainforest conservation. Through the Rainforest Trust Brazil Amazon Fund we aim to permanently safeguard at least 20 million acres of intact forest in the Brazilian Amazon by 2025, pulling the planet’s most important rainforest back from the tipping point. This will also store over 6 billion mT of CO2 equivalents, helping to combat climate change.

This is the last opportunity to protect this priceless rainforest ecosystem for threatened species, Indigenous communities and the planet, and Rainforest Trust are already working in partnership with established in-country NGOs to create new protected areas in the states of Amazonas and Pará.

Significant activities

The Board of Trustees are pleased to report that 2022 was another successful year for Rainforest Trust UK, with a total income of £1,292,795. Of this figure, £1,137,356 was raised in restricted funds (100% of which is directed to our conservation projects) and £155,439 raised in unrestricted funds (including Gift Aid).

Rainforest Trust UK has experienced rapid growth in income since the charity was established in September 2016, with large step changes in 2019 following the public’s response to the wide-scale fires in the Amazon, and then again in 2021 when we received two large, one-off donations with a combined value of £740k, taking total income in that year to £1.8m. While 2022 saw a year-onyear reduction in total income, if these exceptional donations are discounted from 2021 figures, fundraising from other sources increased in value by over 11% year on year.

2022 also saw a significant change at the top of Rainforest Trust UK with the appointment of Rachel Travers (right) as CEO. Rachel brings with her a wealth of experience as a Charity CEO and takes over from Chris Redston, who had been running the organisation on a pro bono basis since the charity was founded, and is the current Chair of the Board of Trustees.

Rachel took up her new salaried role in September 2022 and assumed full operational control of the charity at the end of the year. Rachel joins our other three full-time staff members, Vicky Wallace, Haddon Lindberg and Sonya Murphy, who have been with Rainforest Trust UK since January 2020.

The salaries for Rainforest Trust UK staff, and all other marketing and staff-related costs, are entirely funded through money received through Gift Aid and donations from our Board of Trustees and other committed supporters. This separate funding stream to cover staff costs allows Rainforest Trust UK to maintain its pledge to pass on 100% of all donations to specific projects and funds to the projects themselves (excluding transaction costs).

Rainforest Trust UK’s primary focus is to raise funds for our conservation projects, and to increase awareness of our vital work among the wider British public and business community. Our fundraising activity is supported by our partnership with Rainforest Trust in the U.S., with whom we share resources and materials. Rainforest Trust lead on all conservation strategy and development issues, and maintain the direct relationships with our trusted in-country NGOs.

In 2022 fundraising for our conservation projects continued throughout the year with regular fundraising emails, newsletters, postal mailouts and online events. Donations from the public were made via the website’s donation page, online donation portals such as Benevity and the Charities Aid Foundation, fundraising platforms such as JustGiving, and on social media. The RTUK Christmas Gift Certificate campaign was again a great success, with hundreds of certificates issued during the festive season, raising thousands of pounds for our conservation projects. Rainforest Trust UK continued to establish and develop productive long-term partnerships with environmentally-minded businesses through our Conservation Circle, and held a number of wellattended online events to promote our work. We also received a number of generous bequests and donations from Trusts and Foundations.

2022 was the first year Rainforest Trust UK took part in the Big Give Green Match Fund, a major online fundraising event which takes place on Earth Day (22[nd] April) every year. We would like to extend our thanks to our Big Give sponsor, the EQ Foundation, who provided £30,000 matchfunding for the event, with online donations also being matched by a generous supporter in the U.S. This initiative attracted a number of new donors to the charity, and Rainforest Trust UK reached its fundraising target within the first few days of the campaign, raising over £120,000 for our chosen project to save a carbon-rich swamp forest for Bonobos in the Democratic Republic of the Congo (DRC). For more information on this project, see later in this report.

Given Rainforest Trust UK’s strong brand, impactful conservation projects and powerful messaging, the Board of Trustees considers the charity to be well placed to benefit from the scale of the opportunities in the UK environment and conservation sector in the coming years. We believe that the increasing focus and understanding on climate change and sustainability among individual major donors, trusts, foundations and corporations, and the importance of protecting biodiversity and preventing species extinction, will provide an ever more receptive donor base to drive our continued growth.

Finally, the Board of Trustees would like to express their deep sadness at the loss of Rainforest Trust UK board member Mark Gruin, who died in August 2022. Mark, who was Vice-President of Strategic Initiatives with our U.S. partners Rainforest Trust, had been involved in Rainforest Trust UK since it was founded in 2016, and had served on our board since 2018. Mark was a passionate advocate for conservation, a vital conduit with our U.S. partners and a truly wonderful man. He will be much missed.

Public benefit

The trustees have complied with section 4 of the 2006 Charities Act, having due regard for the Charity Commission’s guidance on public benefit when reviewing the aims and objectives of Rainforest Trust UK.

Volunteers

In 2022 the Executive Director, Chris Redston, continued to run the charity on a voluntary basis until Rachel Travers became the new CEO at the end of the year. No other volunteers worked for the charity during this accounting period.

ACHIEVEMENT AND PERFORMANCE

Charitable Activities – Projects

In 2022 Rainforest Trust UK received donations to support specific conservation projects in Argentina, Belize, Colombia, The Republic of the Congo, The Democratic Republic of the Congo (DRC), Cuba, Ecuador, Ghana, India, Indonesia, Kenya, Laos, Liberia, Madagascar, Mozambique, Nepal, Peru, South Africa, Thailand and Vietnam. The work of Rainforest Trust clearly has a worldwide impact, as shown in the map below.

The following graphic shows the amounts donated by Rainforest Trust UK supporters to the most popular conservation projects in 2022. Three of these conservation projects – one each from Africa, Latin America and Asia – are profiled on the next page of this report to provide a brief overview of the type of projects that are supported and funded by Rainforest Trust.

Swamp Forest for Bonobos in the DRC

117,142 acres; 18,606,790 mT of CO2e*

The Congo Basin is the second largest tropical rainforest in the world and has some of the highest biodiversity levels on Earth. However, it is one of the planet’s least protected and most vulnerable forests. Rainforest Trust and our local partner, Amis des Bonobos du Congo, have created the 117,412-acre Ekolo ya Bonobo Community Reserve in the Democratic Republic of the Congo (DRC). This strategic reserve will secure long-term protection of Bonobos (right) and other threatened species who depend on the region’s swamp forests, as well as storing over 18 million mT of CO2e* – equivalent to the annual emissions of over 4 million cars.

*metric tonnes of CO2 equivalents

Protect Biodiversity in Colombia’s Sierra Nevada

426,154 acres; 64,404,140 mT CO2e

Rainforest Trust worked in partnership with the Indigenous-led organization, Resguardo Kogui Malayo Arhuaco, to expand the Sierra Nevada de Santa Marta National Park in Colombia by protecting an additional 426,154 acres of Indigenous-owned land. This area now benefits from the highest level of environmental protection possible in Colombia – the only way to stop the mining that was devastating this precious forest – while maintaining Indigenous ownership of the land. This area is also home to numerous endangered species, including the Santa Marta Parakeet (left) and the Brown Spider Monkey, and stores over 64 million mT of CO2e, equivalent to the annual emissions of 13.3 million cars.

Expanding Protection for the ‘Asian Unicorn’ in Laos

118,221 acres; 15,622,700 mT CO2e

The Xe Sap National Protected Area extends across the Central Annamite Mountains in Laos, and is a biodiverse treasure in the heart of the Indo-Burma hotspot. This moist forest eco-region shelters some of the world’s highest concentrations of endemic species, including the Critically Endangered Saola (right), also known as the ‘Asian Unicorn’. Discovered in 1992, the Saola is the first large mammal new to science in over 50 years. This project is close to another 133,000-acre protected area created with Rainforest Trust support in 2021, and also stores over 15 million mT of CO2e, helping to protect the planet against the impacts of climate change.

Charitable activities - Funds

Rainforest Trust UK has a number of general funds which donors can support, the most important of which are the Rainforest Climate Action Fund and the Conservation Action Fund. The charity also has the Guardians of the Rainforest Fund, which raises money to directly support the work of our partners’ forest protectors in the field by paying for essential equipment, financing training programmes and other logistical support.

The split of donations between these funds is shown below, with 42.6% of fund donations going towards the Rainforest Climate Action Fund, 56.7% directed to the Conservation Action Fund and 0.7% for the Guardians of the Rainforest Fund.

RAINFOREST CLIMATE ACTION FUND

The Rainforest Climate Action Fund (RCAF) was launched on Earth Day 2021 as a direct response to the worsening climate emergency, and to highlight the importance of rainforest conservation in the fight against climate change. If tropical deforestation were a country, it would be the third biggest emitter after the U.S. and China. When an acre of rainforest is deforested, the amount of CO2 released into our climate is equivalent to the annual emissions of 53 cars. The Rainforest Climate Action Fund is used to protect the planet’s most valuable old-growth rainforests and other carbon-rich tropical habitats, such as peat swamps and mangroves.

The Rainforest Climate Action Fund continues to be very popular with UK donors, for whom climate change is often a key driver for donations, with £165,710 given to this fund in 2022. Since its launch in 2021, this climate-focused fund has supported ten projects worldwide, protecting a total of 3,333,035 acres, with work continuing on an additional 3,557,457 acres. When protected, these projects will safeguard the CO2 equivalent of the annual emissions of 192 million vehicles, as well as creating safe havens for numerous endangered and threatened species.

The Rainforest Climate Action Fund is designated as a restricted fund within Rainforest Trust UK because 100% of all donations (excluding transaction costs) must be used exclusively for approved carbon-rich conservation projects, and cannot be used for the charity’s core expenses, such as staff salaries, marketing, office costs, etc.

Two of the projects that have already been funded by the RCAF are profiled below, and our first annual Rainforest Climate Action Fund update can be seen by clicking here.

Create a Refuge for Carnivores in the Congo

861,642 acres; 113,090,335 mT CO2e

In 2022 Rainforest Trust and our partner, Panthera, created the Ogooué-Lékéti National Park in the Republic of the Congo. This new park will connect with the Batéké Plateau National Park across the border in southeastern Gabon, creating a 502,000acre refuge for the Congo Basin’s only remaining lions. It will wrap around three-quarters of that park’s southern boundary to create an all-important buffer zone for threatened species, including the Western Lowland Gorilla, the Chimpanzee and the Forest Elephant. This park will also store over 113 million metric tonnes of CO2e, equivalent to the annual emissions of over 25 million vehicles.

Protect Peruvian Amazon Watersheds

74,306 acres; 15,271,102 mT CO2e

Rainforest Trust and our trusted local partner, the Andean Ecosystems Association, have protected an area of 74,306 acres as the Vilaya Condorpuna Shipago Regional Conservation Area. These safeguarded acres will connect with other conservation areas in the region and benefit hundreds of species, habitat and people. Without the protection offered by this project, the rich biodiversity of this area will be devastated by illegal logging, the rapid expansion of agriculture and illegal trafficking of rare orchids and timber. This project will also store over 15 million mT of CO2e, equivalent to the annual emissions of over 3 million vehicles.

CONSERVATION ACTION FUND

In 2021 Rainforest Trust also received a large number of donations for the Conservation Action Fund (CAF) totalling £220,685. Money donated to the Conservation Action Fund is used to support all types of Rainforest Trust projects as and when extra funding is needed. Money held in the Conservation Action Fund can also be used as seed money for projects to ensure that urgent projects are started promptly. Rainforest Trust publishes regular Conservation Action Fund Updates, which show the impact of the CAF in various parts of the world. Click here and then scroll down the web page to access these updates.

As with the Rainforest Climate Action Fund, the Conservation Action Fund is also considered a restricted fund within Rainforest Trust UK because 100% of all donations (excluding transaction costs) must be used exclusively for conservation projects, and cannot be used to cover the charity’s running costs or other expenses. In 2022 this fund supported a wide range of projects across Latin America, Africa and Asia, two of which are profiled below.

Protecting the Maya Forest Corridor in Belize

29,941 acres; 2,919,000 mT CO2e

The broadleaf forests of central Belize connect two of the largest swaths of intact protected habitat in Mesoamerica, forming the most expansive forest block north of the Amazon. The Maya Forest Corridor is an untouched stretch of forest which supports numerous threatened species and connects a number of protected area refuges, ensuring the long-term genetic viability of threatened wildlife populations. Rainforest Trust has helped secure the purchase of 29,941 acres of this pristine wilderness, saving vital habitat for threatened species such as the Jaguar, Baird’s Tapir, Geoffroy’s Spider Monkey and the Yellowheaded Amazon (right).

Save Vietnam’s Grey-shanked Douc Langur

148 acres; 8,638 mT CO2e

Since the late 1970s, the striking Grey-shanked Douc Langur population in Vietnam has declined by over 80% and it is estimated that only 1,000 individuals remain. In Tam My Tây, several troops of the Langur totalling just under 70 individuals are barely hanging on in four increasingly isolated forest islands surrounded by acacia and oil palm plantations. Rainforest Trust and our local partner, GreenViet, have purchased 148 acres for the protection of this species, and are working with local communities and regional authorities to establish formal protection of the land and create a safe haven for the endangered animals that call this forest home.

FINANCIAL REVIEW

Financial position

During 2022 Rainforest Trust UK raised £1,291,522 in donations (of which £1,137,356 was restricted and £154,166 was unrestricted) and £1,273 in investments, giving the charity an income of £1,292,795. A total of £1,188,225 of restricted money was transferred to Rainforest Trust in the U.S. for disbursement to projects around the world, leaving a closing balance on restricted funds of £50,869. There was unrestricted expenditure of £129,509, leaving a closing unrestricted balance of £25,930. At year end the bank held funds of £309,533, which included £206,085 of restricted money. The balance remaining on restricted funds, which was the donations received in December 2022, was transferred to Rainforest Trust in the U.S. in early 2023.

From March to December 2022, Rainforest Trust UK acted as a payroll agent for Rainforest Trust in the U.S. to facilitate the employment of a member of their team who was living in the UK. This person was fully seconded to the U.S. team and all their costs were covered by Rainforest Trust, with zero impact for the reported costs and income of Rainforest Trust UK.

Principal funding sources

As you can see from the pie charts below, 8.9% of the charity’s restricted income in 2022 was raised from Trusts and Foundations, 63.4% was raised from individual donors, with 24.3% donated by companies and 3.4% raised by community fundraising initiatives (schools, online fundraising, sponsored events, etc.). As for unrestricted funds, 94.6% of this income was raised through Gift Aid and 5.4% from individual donations and interest from money in bank. Rainforest Trust UK does not sell any merchandise.

Fundraising Practices

Rainforest Trust UK is registered with the Fundraising Regulator. We comply with the Code of Fundraising Practice in how we conduct our fundraising work, donor care, processing of personal data and processing of donations.

All fundraising is carried out by our in-house staff and we do not use any third parties or agencies. Our staff are provided with training to ensure they recognise and protect vulnerable people. We have never received any complaints about our fundraising activities since the charity was established in 2016.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Charity constitution

Rainforest Trust UK is a CIO (Charity Incorporated Organisation).

Organisational structure

Rainforest Trust UK works in collaboration with Rainforest Trust, a global conservation charity based in the U.S., which has been in existence since 1988. Rainforest Trust has consistently been given the highest 4-star rating and a 100% approval score on Charity Navigator, on their ratings scheme for Financials, Accountability and Transparency - one of only a handful of charities to achieve this rating.

Rainforest Trust UK raises money for the same conservation projects as Rainforest Trust, which are vetted and approved by the Rainforest Trust UK Board of Trustees at regular Trustees' meetings. Our relationship with Rainforest Trust is defined by a Partnership Agreement and a Brand Sharing Agreement, and we are responsible for its own fundraising and marketing operations, promotional materials, accounting, staffing and other operational matters.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1169111

Principal address

120 Muirkirk Road, Catford, London SE6 1BH

Trustees

C Redston A M E Pickles J Brueton J Self J Baird (appointed 26.07.22) Dr J Deutsch (appointed 04.10.22) M Gruin (deceased 13.08.22)

Independent Examiner

Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG

Approved by order of the Board of Trustees on 14[th] September 2023 and signed on its behalf by:

Chris Redston – Chair of the Board of Trustees

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF RAINFOREST TRUST UK

Opinion

We have audited the financial statements of Rainforest Trust UK for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, 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 Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the Charity’s affairs as at 31 December 2022 and of its income and expenditure for the period 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 Charities Act 2011.

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 FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

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

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

sufficient accounting records have not been kept;
the financial statements are not in agreement with the accounting records and returns; or
we have not obtained all the information and explanations necessary for the purposes of our audit.

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Our responsibilities for the audit of the financial statements

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

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

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

We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to:

• identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance.

Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud.
We obtained an understanding of the environment that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable accounting standard.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

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

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity’s trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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

15 September 2023

Rainforest Trust UK Statement of financial activities

(incorporating an income and expenditure account) For the year ended 31 December 2022

Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: 6 Fundraising Charitable activities: Grants to charitable Institutions Governance and support Total expenditure Net income/ (expenditure) for the year Net movement in funds Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted Funds £ 154,166 1,273 155,439 97,876 - 31,633 129,509 25,930 25,930 - 25,930 77,518 103,448	Restricted Funds £ 1,137,356 - 1,137,356 - 1,188,225 - 1,188,225 (50,869) (50,869) - (50,869) 256,954 206,085	2022 2021 Total Funds Total Funds £ £ 1,291,522 1,885,611 1,273 1,456 1,292,795 1,887,067 97,876 84,196 1,188,225 1,868,769 31,633 18,529 1,317,734 1,971,494 (24,939) (84,427) (24,939) (84,427) - - (24,939) (84,427) 334,472 418,899 309,533 334,472

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

Rainforest Trust UK Balance sheet As at 31 December 2022 2022 2022 2021 2021 Note Current assets: Debtors Cash al bank and in hand 10 31.967 283,266 315.233 340,172 340.172 Llabllltles: Cr8ditors'. amounts falling du8 within on8 year 11 15,7001 15,7001 Net current assets 309,533 309,533 334,472 334,472 Total net assets Funds Reslrlcled funds Unreslricl•d funds.. 12 206.085 103,448 309,533 256.954 77,518 334,472 Total funds Approved by the trustees on 14 September 2023 and signed on their behalf by.. Chrls Redston - Chalr ol Board of Trustees Charlty reglstratlon no. 1169111 The attached notes form part of the financial $t3tgmenl$.

Rainforest Trust UK statement of cash flows For the year ended 31 December 2022 Not• 2022 2021 Cash flows from operailnq actlvltles: Change in Cash and eash equivalents in the year 56.9061 179,6271 Cash and cash equivalenls al the beginning of the year 340,172 419,799 Cash and cash equivalents atthe end of th• year 283,266 340,172 al Reconciliation of net income I 1gxp•nditur•l to n•t cash flow frorn operating activities 2022 2021 Net Income I lexpenditu rel for thè reporting period la5 per the slalernent of financial activities) 24.9391 184,4271 Ilncreasell decrease in debtors Increasel Idecieasel in credrtors N•t cash provid•d by I lus•d inl operatlng actlvltles 131,9671 4,800 56,9061 179,6271 bl Analysis of cash and cash •quival•ntS At 31 Al 1 January 2022 Cash flows Oth•r ¢hanges December 2022 Cash at bank and in hand 340,172 156.9061 283,266 Total cash and cash equlvalents 340,172 106.9061 283,266 18

Rainforest Trust UK Notes to the financial statements For the year ended 31 December 2022 1 Accounting policies al Basis of preparation The financial slalernents have been prepared in accordance with Accounting and Reporting by Charities= stal8menl of Recommended Practice applicable lo charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 - effe¢live 1 January 20151 (Charities SORP FRS 1021. The charity meets the definition ol a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stsled in the relevant accounting policy or note. bl Going concern The Iruslees consider that there are no material uncertainties about the charity's ability lo continue as a going concern. The Iruslees do not consider that there are any sources of eslimalion uncertainty al the reporting dale that have a significant risk of causing a mal8rial adjuslmonl lo th8 carrying amounts ol assets and liabilities within the next reporting period. cl Income Incom8 is recognised when Ihg charity has entillemenl lo the funds, any performance conditions attached lo the income have been mel, il is probable that the income will be received and that the amount can be rneasured dl Interest receivable Interest on funds held on deposit is included when receivable and the amount can b8 measured reliably by the charity., this 15 normally upon notification of the interest paid or payable by the bank. el Fund accounting Unreslricled funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrgslricled funds of Ihg charity which the Iruslges hav8 dgcided al their discretion lo sel asid8 lo use for a specific purpose. Reslricled funds are donations which the donor has specified are lo be solely used for particular areas of the charity's work or lor specific proj8cls b8ing undertaken by th8 charity. Q Expenditure Expendiluie is recognised once there is a legal 01 conslruclive obligation lo rnake a payment to a third party, il is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of generating funds relate lo the costs incurred by the charity in inducing third parties to make voluntary contributions lo it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services undertaken lo further the purposes of the charity and their associalad support costs. Other expenditure represents those items not falling into any other heading. gl Allocation of support costs Support costs are those functions that assist the work of the charity bul do not directly undertake charitsble activities. Support ¢osls include back office costs, finance, personnel, payroll and governance costs which support the charitable aclivilies. These costs have been allocated between cost of generating funds and expenditure on charitable activities. 19

Ralnforest Trust UK Notes to the flnancial statements For the year ended 31 December 2022 1 Accounting policies Icontinued h) Cash at bank and in hand Cash al bank and cash In hand includes cash and short lerrn highly liquid investments with a short maturity ol three months or less from the dale ol acquisition or opening of the deposit or similar account. il Creditors and provisions Ciedi101s and provisions are recognised where the charity has a present obligation re5ulling from a past event that will probably result in the transfer ol funds to a third party and the arnounl due lo settle the obligation can be measured or èstimaled reliably. Creditors and provisions are normally recognised al their selllemenl amount after allowing for any trade discounts due. jl Pensions The charity conlribules into the pension of its employees. The assets ol the schem8 are held separately frorn those of the charity in an independently adrninislered fund. The pension costs charge represents contributions payable under the scheme by th8 charity lo the fund. The charity has no liability und8r the scheme other than for the payment of those conlribulions. 20

Rainforest Trust UK Notes to the financial statements For the year ended 31 December 2022 2 Detailed comparatives lor the statement of financial activities 2021 Unreslricled Funds 2021 Restricle Funds 2021 Total Fun¢Ys Income from: Donations & Girt aid 143,391 1,742,220 1.885.611 Investments Total income 1.456 144.847 1,456 1,742.220 1,887.067 Exp•nditur• on: Fundraising Charitable aclivilies.. Rainloresl Trust Total •xp•nditur• 84,196 84.196 18.529 102.725 1.868.769 1,887.298 1.868.769 1,971.494 Net income for the year 42,122 1126.5491 184,427) Netmovement in lunds 42,122 1126.5491 184,427) Translers belween funds Netmovement In funds 42,122 1126,5491 184,4271 Total funds brought lotward Total funds carri•d forward 35.396 77.518 383,503 256.954 418.899 334.472 3 Income from donations anl legacies 2022 Toial Funds 2021 Total Fun(Js Unrestricted Funds Restricted Funds Donations Gift Aid 7,217 146,949 154.166 1,137.356 1,144,573 1,769.902 146,949 115.709 1,291,522 1,885.611 1137 356 4 Incorne from investments 2022 Total Funds 2021 Total Fun(Js Unr•strict•d Funds Restricted Funds Bank interest 1,273 1,273 1,273 1,273 1,456 1,456 21

Rainforesi Trust UK Notes to the financial statements For the year ended 31 December 2022 Analysls of expendlture Fundiaising costs ChJrituble activities Support costs 2022 Total 2021 Total Staff costs Iseè notè 81 Fundraising costs Grants to institutions Rainloresl Trusl-USA Management and Administration Postage and stationary Tiansaction chaiges IT costs Accountan Audrf fees Sundries 96.082 20,145 116,227 1.794 81.960 2,236 -1.194 1,188225 1.188,225 1,868.769 586 2,614 928 586 2,614 928 1.230 7.249 2,025 5,700 1,660 31,633 5,700 5,700 1,660 1,857 1.317,734 757f15T 97.876 1.188.225 Support costs Tirtal expenditure 2022 97.876 1.219.858 1,317.734 orthe tol81 expendityre. £129.509 was unrestricted12021." £102.7251 and £1.188,225 was res1iicted12021." £1.868.7691. AnaSi8 of expendituie Fundrakqing costs Chaittable acth*iles Supw>rt costs 2021 Total 2020 Total Staff costs Isee note 81 Fundiaising costs Grants to institutions Rainloresl Trust-USA Managomènt and Admlnlstration Rent Postage and stationary Transaction chaiges IT c051s Accountancy Audit fees Sundrles 81.960 81,960 2,236 75,463 5.258 -2.236 1.868.769 1.868.769 620.650 4,590 1.230 7.249 2.025 468 5.700 1.857 18.529 1,230 7,249 2,025 468 5.700 1.857 1.971,494 7,545 463 1.368 1.964 717 497 Support Cosls 18,529 118,5291 Total axpenditure 2021 84.196 1.887.298 1.971.494 22

Rainforest Trust UK Notes to the financial statements For the year 8nd8d 31 December 2022 Net income I l•xpenditur•l for tho year This is stat8(J aft8r charging I Ici8ditingl-. 2022 2021 Audit fee5 nel of VAT 4,750 4,750 Analysls of staff costs, trustee remuneratlon and èxpenses, 8nd the cost of key managemont per8onno1 staff costs were as follows. 2022 2021 Salaries and wages Soci81 security costs Other pen510n cos15 106,126 6.196 3,906 116,227 77,200 3.006 1.754 81,960 No etnpk)yee eamed over £60,000 during the year12021. Nill. The total employee benefits including pension contnbution5 and etnployer's national insurance of the key tnanagement pèrsonnel were £21,915 The tharify trustees were not paid or received any other benefits frotn etnpk)yrDenl wlh the charity in the year 12021. £nill. In 2022. no tnJslee5 weie reimburse(J for expenses 12021". nill. No chaiity trustee receNed paytnent for professional or other S8fviL%S supp118d to the chairty12021." £nill. staff numbors The average number of èmpk)yees (head count based on number of staff employed) during the year was as follows. 2022 No. 2021 No. Fundraising Managei Fundraising Officers 23

Taxation The charity is exetnpt frorn incorne tax a5 all It5 incotne 15 charitable and 15 applied for charitable purposes. 10 Debtors 2022 2021 Accrued Income 31,967 31,967 11 Credltors.. amounts falllng duo wlthln one year 2022 2021 Accruals 6,700 5,700 5.700 5,700 12 Analy$ls of net assets between fundslurrent year General Unrestricted Funds Restricted Funds Totsl funds Nel current aS5e15 Net a55ets at the end of the year 103,448 103,448 206,085 20fj,085 309,533 309,533 Analy515 of net assets between fvnds-Prior year G8nei81 Uniestricted Funds Restricted Funds Total funds Net current asset5 Nel as5et5 at the end of the year 77.518 256.954 334.472 24

Rainforest Trust UK Notes to the financial statements For the year ended 31 December 2022 13 Movements In funds-current year Incorning r•sources & gains Outgoing resources & lo$se$ At th8 Start of the year At tha end of the year Transfers R•8tricted funds= Rainfoiest Trust USA Totsl restrfcted funds 1 137356 1,137,356 1 188 225 1,168.2251 206 08S Totsl unrestricted fvnd$ 77,518 155,439 1129,5091 103,448 Total funds 1.292 795 1 317 734 Movernents in fund>Prior year Incotning iosouices & gains Outgoing 18souices & losses At the start ol the year At the end of the year Tianslers R8Stnded fund5 Rainfoiest Trust Total reslricled funds 383 503 383.503 1 742.220 1.742.220 1 868 769 1.868.769 256 954 256,954 Total unrestricted funds 35.396 144,847 1102,725 77.518 Total funds 418,899 1,887 067 11,971,494) 334.472 14 R8lat8d party transactions During the year, charity received a donation of £1.08012021'. £25,554) from one of the trustees. 25