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ANNUAL REPORT INCLUDING AUDITED FINANCIAL STATEMENTS

MISSION

MISSION 4 2021: AT A GLANCE 6 THE IMPACT OF AIDS 8 FROM THE CHAIRMAN 10 PORTFOLIO STRATEGY 12 2021: OUR PORTFOLIO 14 2021: IMPACT 16 IMPROVING LIVELIHOODS 18 EDUCATION 22 HEALTHIER FUTURES 26 SAFER COMMUNITIES 30 FINANCIAL REVIEW 34 STRUCTURE, GOVERNANCE & MANAGEMENT 35 STATEMENT OF PUBLIC BENEFIT 35 2021: AUDITED FINANCIAL STATEMENTS 34 TRUSTEE & STAFF PROFILES 46 SUPPORTING EGMONT 48

EGMONT EMPOWERS COMMUNITIES TO STRENGTHEN THEIR LOCAL RESPONSES TO THE DEVASTATING IMPACT OF HIV & AIDS ON VULNERABLE CHILDREN AND FAMILIES.

WE FIND AND BACK GRASSROOTS ORGANISATIONS IN KENYA, MALAWI, MOZAMBIQUE, TANZANIA, ZAMBIA AND ZIMBABWE WHO HAVE DEVELOPED ON-THE-GROUND, PRAGMATIC SOLUTIONS WITH THE POTENTIAL FOR SCALE UP.

WE HELP THESE LOCAL LEADERS TO FURTHER DEVELOP THEIR INTERVENTIONS AND ADDRESS THE ECONOMIC , EDUCATIONAL , MEDICAL AND SOCIAL ISSUES THAT HAVE ARISEN AS A RESULT OF DECADES OF THE DISEASE.

WE HAVE SEEN THAT THE MOST EFFECTIVE RESPONSES LIE WITHIN THE COMMUNITIES MOST AFFECTED.

AT

£1.66m

TOTAL AMOUNT RAISED*

£1.28m

COMMITTED TO PROJECTS

A

PARTNERS SUPPORTED

GLANCE

91,724 PEOPLE HELPED

includes funds raised for projects, operational costs and direct funding pledged for five projects.

Pictured: A group of young men supported to set up a fish farming co-operative on the shores of Lake Victoria in Kenya by Egmont Partner, Ace Africa. The waters of Lake Victoria are over-fished and these fish farms provide a sustainable income stream for the next generation. With an initial investment of £3,392, two groups have now realised £12,168 net profit over ten harvests.

THE IMPACT OF AIDS

FOUR DECADES OF THE HIV & AIDS EPIDEMIC HAS SHATTERED FAMILY NETWORKS AND WHOLE COMMUNITIES ACROSS THE REGION. IT IS THOSE MOST VULNERABLE - CHILDREN AND WOMEN - WHO BEAR THE BRUNT OF THE IMPACT.

The region is home to more people living in extreme poverty, and more out-of-school children, than all other world regions combined. Through immense international effort, the tide of ever increasing annual numbers of infections has been turned back. But many millions are still unable to access treatment or are unaware of their HIV status, fuelling infections and adding to the population of HIV+ individuals.

HIV affects people in the prime of their lives: when they are working; when they are starting a family. Through illness or death, HIV has a dual impact: removing a productive family member and leaving dependants bereft and struggling to

provide for themselves. With over 25 million people across the region having succumbed to

Today, there are over 11 million children growing up without one or both parents due to the continuing onslaught of AIDS-related deaths. There are more families of all types - single parent, grandparent and child-only households - who are struggling to feed, clothe and care for themselves.

It is these children, and the families that care for them, that Egmont and our Partners seek to help.

SHARE OF HIV+ POPULATION

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SUB-SAHARAN AFRICA
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SHARE OF POVERTY HEADCOUNT (%)
SUB-SAHARAN AFRICA
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OUT-OF-SCHOOL POPULATION, PRIMARY AGE (%) SUB-SAHARAN AFRICA

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HIV TREATMENT AVAILABILITY IN SUB-SAHARAN AFRICA
ACCESSING TREATMENT
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SHARE OF AIDS ORPHAN POPULATION SUB-SAHARAN AFRICA

25.3 MILLION REST OF THE WORLD REST OF THE WORLD

33.8 MILLION REST OF THE WORLD

435 MILLION

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18.5 MILLION TREATMENT GAP
11.5 MILLION REST OF THE WORLD
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Pictured: Sarah lives in Bindura Rural District in Zimbabwe. She provides for her two young grandchildren and her own eldest child, who is still in secondary school. Sarah has been supported by Egmont Partner, Talia Women's Network and enrolled on their 'Street Business School' programme. She has now set up a chicken rearing business with support from Talia as well as a kitchen garden growing maize, beans, onions and sweet potatoes to help her family meet their nutritional needs.

SOURCES: UNAIDS DATA, THE WORLD BANK, UNESCO INSTITUTE OF STATISTICS (UIS).

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FROM THE
CHAIRMAN
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Pictured: An in-school HIV & AIDS awareness session and testing
campaign run by Egmont Partner, Girl Child Counselling Women Group
(GCCWG) in Kenya. GCCWG tested 2,640 school children in their local
communities in 2021. 150 tested postive and were helped onto treatment.
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HEALTH CHALLENGES REMAINED OF PARAMOUNT IMPORTANCE IN AFRICA IN 2021.

There were some positive developments: WHO’s approval of the first ever malaria vaccine, following tests in three African countries; the continued low rates of COVID infection and mortality in most African countries relative to much of the rest of the world.

The picture is less bright in respect of other health challenges: in Africa HIV&AIDS remains in the top 5 causes of death. East and southern Africa remains the region most at risk of new HIV infections and in 2020 the six countries where Egmont works saw 20% of the world’s new cases, and nearly 25% of fatalities. Whilst the international community has been effective at supplying direct pharmacological help to victims for many years, UNAIDS is finding it harder to secure pledges to cover its budget.

Egmont’s focus, in contrast, continues to be on the totality of the impact of HIV, for each victim is part of a family and of

a community who depend on them: on their earnings, their work, their role as parents and care-givers. The second order effects of HIV are devastating: children miss school; families face poverty, malnutrition and exploitation; their prospects are blighted. Egmont’s Partners target these dependants, orphaned or vulnerable, alongside those living with HIV.

The local Partners whose projects we fund are grounded deep in their communities. They know – better than any outsider can – what is most needed locally, and how best to fill the gaps. All our six countries of operation have thriving eco-systems of such local organisations. Our role is to find the best of them, fund and support them to develop their impact, including helping them to learn from, and collaborate with, other Partners in Egmont’s portfolio.

We supported a total of 60 local, grassroots Partners in 2021: this Annual Report explores the results they have achieved.

never ceases to impress. The loyalty and generosity of our supporters is no less wonderful. Each, we believe, is motivated and strengthened by the other. The Egmont team are deeply grateful for both. This collaboration makes it possible for tens of thousands of vulnerable people each year to receive help of one kind or another. On their behalf, thank you.

We are proud of the breadth and impact of their work; the innovative ways of working they develop in their resourceconstrained operating environments; and the life-changing difference they are making for their beneficiaries..

The Egmont team, a lean operation based in Cardiff, Lusaka one kind or another. On their behalf, thank you. and Harare, have continued to show outstanding commitment and high levels of professionalism. Under the leadership of On their behalf, thank you. Colin Williams and Matthew Kidd, there is consistent pursuit of ways to improve all aspects of our operations in a cost JEREMY EVANS effective way. We owe the team, and our Trustees, immense CHAIRMAN gratitude for their hard work, practicality and dedication. We were delighted that Rachel Foster, who was raised in Kenya and has worked in education there, and the UK, for over 40 years, has joined the Trustee Board.

Egmont’s core purpose is to raise funds and disburse them to our Partners. The commitment and dedication of our Partners

PORTFOLIO BENEFITS

OUR

PORTFOLIO STRATEGY

OUR COMPARATIVE ADVANTAGE IS OUR ABILITY TO SELECT FROM THE VERY BEST LOCAL RESPONSES THAT ADDRESS THE REAL ISSUES ON THE GROUND.

We focus on six of the countries worst affected by the epidemic: Kenya, Malawi, Mozambique, Tanzania, Zambia & Zimbabwe. This region is home to the largest concentration of children orphaned by the pandemic. Every family and community is affected by the impact of HIV & AIDS. Across these six countries there is remarkable heterogeneity: a vast array of peoples, geographies, cultures, languages and traditions. Every family and community is affected differently.

Using our rigorous assessment processes - derived from decades of experience in the region and sector - we identify those organisations with the potential for scale and expand their results through targeted investment. Equally important are the people behind the organisation, the inspiring leaders and motivated project staff: people we can trust to deliver; people we can do business with.

We start small, helping our Partners to expand their activities with careful guidance and resources. Egmont employs a flexible, graduated grant structure (see right) to ease this scale up process, facilitating organic growth with lean, costefficient expansion. At the lower end, this grant structure limits risk and enables us to be flexible in our funding, piloting innovative new approaches. We then work with Partners to refine their approaches, identify gaps in their projects and develop new ways they can help their beneficiaries. We also link organisations together to learn from one another and share best practice, facilitating the spread of effective approaches, building co-operation and establishing collaborative networks.

Within each community, local responses have sprung up in response to the epidemic. These grassroots organisations are led by passionate and dedicated local people who have seen the effects of the disease on relatives, friends, colleagues and neighbours. They have the knowledge and experience to utilise the scarce resources available to them and respond to the specific economic, educational, medical and social effects of the epidemic on those most in need in their communities.

Egmont operates a portfolio model to back the unique and effective models operating within this maturing and everdeveloping market of interventions. Unlike many other funders, we are not prescriptive in our approach. We recognise on-theground expertise and believe that decisions taken as close as possible to those most affected bring about the most powerful, cost-effective results. This portfolio approach also spreads the risk of investing our donors' monies too heavily in any one approach or organisation.

Effective Partners with proven results are then selected for increased levels of funding, reaching greater numbers of those affected. This ensures that the core of our portfolio delivers consistent performance, delivering life-improving results for vulnerable children year after year.

This partner-driven portfolio approach allows us to capitalise on the best-performing organisations that we support; stay at the forefront of the response to the epidemic by trialling new approaches; and helps bring about sustainable, longterm change by fostering the development of a stronger civil society.

PROMOTING LOCAL SOLUTIONS

Each community is unique and affected differently, and so are the responses we fund. Preventing new infections is as critical as increasing incomes; stopping discrimination is as important as improving nutrition. Each must be assessed on its own merits and its efficacy proved. We do the groundwork to ensure the greatest social return for the monies entrusted to us.

BACKING WHAT WORKS

Like any portfolio manager we closely monitor the progress and results of the organisations we have invested in. Projects are assessed on a regular basis, enabling us to pick out the best performers for expanded support and promotion of their approach and methodologies across the portfolio. Through these processes, we are able to direct resources to those highly effective projects and ensure more vulnerable children are reached.

STRONGER CIVIL SOCIETY

We help to strengthen the ability of local people to develop their own solutions to the issues most affecting their communities. In doing so, we bypass the waste and bureaucracy of the larger international funders and direct resources straight to the people on the ground. We believe that this creates a group of more capable and empowered local civil society organisations that are better able to respond to external shocks.

FLEXIBLE GRANT STRUCTURE

Our grant structure allows for a refreshing heterogeneity in the types and sizes of organisations we support. New Partners enter the portfolio running Innovation Projects (up to $20k per annum). Proven Partners make up the bulk of our support, running Core Projects ($35 - 50k per annum). Strategic Projects ($70-100k) per annum are run by exemplary Partners, those who have consistently posted exceptional results.

CROSS-FERTILISATION OF IDEAS

We encourage our Partners to link together through our peerlearning initiatives. These efforts help to share best practice across the portfolio, develop networks between Partners, highlight other funding options and identify collaborative opportunities amongst themselves and other local agencies.

OUR 100% FUNDING PROMISE

Our Trustees & Patrons cover all of our operating costs so we are able to direct every penny of our supporters’ donations to projects on the ground, providing the greatest social impact for their charitable investments.

Pictured: A community meeting in Kenya celebrating the creation of an alternative 'rite of passage' into adulthood for young women in a community that practises female genital mutilation. This significant cultural change was brought about by Egmont Partner, Sponsored Arts for Education.

2021 OUR PORTFOLIO

EGMONT SUPPORTED A PORTFOLIO OF 60 GRASSROOTS PARTNERS ACROSS SIX COUNTRIES IN 2021.

TOGETHER, THEY REACHED MORE CHILDREN AND FAMILY MEMBERS AFFECTED BY HIV & AIDS THAN IN ANY PREVIOUS YEAR .

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TOTAL PARTNERS SUPPORTED
2021 NEW GRANT APPLICANTS
53
12
60
126
2020 2021
APPLIED SUCCESSFUL
2021 PARTNERS BY GRANT LEVEL
7
2021 PARTNERS PER COUNTRY
16
13 13
37
10
13
INNOVATION CORE
5
6
STRATEGIC
KEN MAL MOZ
PEOPLE REACHED
TAN ZAM ZIM
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Partner numbers: Increased virtual interactions with potential new Partners have enabled us to grow the portfolio to the highest number of organisations supported in a single year. A total of 60 grassroots organisations were supported during 2021 with 52 remaining as active Partners at the end of year.

Partner recruitment: 126 organisations applied for funding for the first time in 2021. Egmont's rigorous, multi-staged application process winnows through these applicants ensuring that only the very best receive funding. We focus on evidence of results to date and potential for scale. Fewer than 10% of applicants were successful.

Grant structure: Mature, tested Partners running Core Projects continue to make up the bulk of the portfolio, ensuring consistent results. New Partners enter the portfolio running smaller, one-year Innovation Projects; and we have seen a growth in this part of the portfolio with twelve new entries in 2021. Those that are successful will be invited to apply for Core Project funding upon completion of their first projects. We have also expanded our Strategic Project initiative, supporting seven Partners at this higher level throughout the year and moving closer to our target of at least one Strategic Project operating in each of our countries of focus.

Geographic spread: We continue to look to expand support in Mozambique and Tanzania given the increasing number of AIDS orphans in these two countries in recent years.

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PEOPLE REACHED
TAN ZAM ZIM
OPS COSTS VS PROJECT INCOME
89,861
91,724 £1.11M
£367K
2020 2021
£185K
OPS COSTS PROJECT INCOME
DIRECT PROJECT FUNDING
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Total reach: Our portfolio continues to see a steady increase in the number of children and family members affected by HIV & AIDS each year, while grant disbursements remain relatively stable. We believe that this is due to the development of our existing Partners and careful selection of new projects.

Operational costs: As our Trustees and Patrons cover all of our operational costs, Egmont strives to remain a lean, low-cost enterprise.

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KENYA
13,919 PEOPLE [†]
13 PARTNERS
£245 K
TANZANIA
10,798 PEOPLE
5 PARTNERS
£81 K
ZAMBIA
13,917 PEOPLE
10 PARTNERS
£151 K
MALAWI
30,461 PEOPLE
13 PARTNERS
£321 K
ZIMBABWE
20,258 PEOPLE
13 PARTNERS
£360 K
MOZAMBIQUE
2,371 PEOPLE
6 PARTNERS
£108 K
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Includes direct funding pledged for five projects, £98,809 of this funding was transferred to Partners in 2021 with the remainder transferred in early 2022. † People helped is a dynamic number, based on proposal figures and updated as we receive confirmation through project progress reports.

Improving Livelihoods PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

51[%]

4 402 , CHILDREN SUPPORTED BY SCHOOL FEEDING PROGRAMMES

Reduction in reports of illness in children living with HIV over a two month period amongst 150 families that received nutritional support.

RURAL NEW LIFE DEVELOPMENT, KENYA

3 601 , HOUSEHOLDS TRAINED IN NUTRITION AND THE IMPORTANCE OF A BALANCED DIET

£79 536 ,

Amount realised by 1,648 farming families after training in soya bean value addition techniques such as producing soya milk, chunks and cake.

2 746 , HOUSEHOLDS PROVIDED WITH AGRICULTURAL INPUTS SUCH AS SEED OR LIVESTOCK

ZAMBIAN RAINBOW DEVELOPMENT FOUNDATION, ZAMBIA

59[%]

4 856 , PEOPLE ENROLLED IN SAVINGS, LOANS AND BUSINESS GROUPS

Growth in weekly income for 235 young people engaged in 'Grow and Youth Savings' groups where they receive business training.

R-LABS, TANZANIA

The impact of HIV & AIDS means that many children across the region face a life where securing enough food is uncertain and the families that care for them struggle to meet their basic needs. For those children that are HIV+, these problems are intensified. Our Partners help children and families affected by AIDS to improve their livelihoods by providing access to more nutritious food and increasing their incomes.

IMPROVED NUTRITION IMPACT PARTNERS 9 835 32 , PEOPLE HELPED WORKING IN THIS AREA

Improved Nutrition has a cascade effect. Medical treatment is more effective and antiretroviral (ARV) drugs are absorbed more quickly. Children attend school more frequently and perform better academically. Families have the energy to farm and work productively.

Our rigorous reporting systems enable us to capture the many diverse ways that our Partners help children and families affected by HIV & AIDS to improve their nutrition. Just some of these varied approaches are detailed below.

- Providing nutritional training and care packages to caregivers of children affected by HIV & AIDS.
- Ensuring HIV+ mothers can feed their newborn babies with the provision of formula milk.
- Running school feeding programmes, ensuring vulnerable children get a hot meal each day.
- Establishing school gardens to increase access to nutritious vegetables, and train children to grow produce at home in ‘kitchen gardens’.
- Providing seeds, fertiliser and other farming inputs alongside training in modern agricultural practices.
Setting up community groups and parent/caregiver committees to provide food for vulnerable children and highlight cases of malnutrition to our Partners.
- Livestock 'pass on' programmes

INCREASED INCOMES IMPACT PARTNERS 8 626 43 , PEOPLE HELPED WORKING IN THIS AREA

Increased Incomes from employment or income-generating activities helps families to feed the children in their care, pay for school fees, and meet the costs of medical treatment and basic household needs providing them with a route out of poverty.

Last year, families across the region continued to struggle under the joint impact of AIDS and the worsening economic conditions brought about by the COVID-19 pandemic. Some of our Partners' approaches to help bolster family incomes are detailed below.

training courses in in-demand fields.

- Providing start-up finance, materials and business training for families to establish income-generating initiatives.
- Providing training and materials in easy-to-make products, such as homemade soap, floor polish and fuel-efficient stoves.
- Providing agricultural training, seeds, livestock and access to equipment and land for rural families.
- Training families in 'value addition' to generate greater income from their existing businesses.
- Training young adults for employment or self-employment.
- Supporting community apprenticeship schemes.
- Forming savings and loan groups to allow those without access to traditional credit to establish businesses.
- Enrolling caregivers and older siblings in vocational

“People used to say that we were wasting our time because we were positive. Now, the same people are asking us how we managed to buy own land and build a house.”

IMPACT HIGHLIGHT IMPROVING LIVELIHOODS

Unlocking the economic potential of remote communities through easier access to credit for rural entrepreneurs.

potential of young Malawians like Sarah and her husband. YONECO has been supported by Egmont as part of their Core Project to establish five informal Village Savings and Loan (VSL) groups, provide business training to the group members and offer capital injection loans so that they can boost their income-generating activities.

Malawi is - by most measures - one of the poorest countries in the world. Countries with similar GDP per capita - Liberia, Eritrea, Afghanistan - have undergone recent or lengthy civil wars or conflicts. The impact of HIV & AIDS weighs heavily on the resources of the country as a whole and on the millions of families affected.

Almost one in ten Malawians are infected with HIV and 460,000 children across the country have lost a parent to the disease[1] . As families struggle to provide for themselves already, the burden of caring for these children strains family resources and locks them into the cycle of poverty; surviving from one season to the next. Providing these families with easy to understand, simple financial facilities to invest in their businesses - alongside business training - enables them to escape this cycle, meet their basic needs and build towards a better future.

Sarah was enrolled into the Chisomo Youth Group. "On the first day, we knew we were in the right place. The savings and loans scheme was a break-through for us". Each group received training in new agricultural techniques to boost their existing farming output, providing them with more nutritious food and income. They also received lessons in entrepreneurialism and were taught the basics of a variety of income-generating activities such as baking, soap-making and butchery. Once they completed their training, YONECO offered each group member a capital injection loan so that they could begin trading.

Sarah is 28 years old and lives in Ntcheu District, central Malawi. Sarah and her husband are both HIV+ and struggled to provide enough food for their two young children. This food insecurity interfered with their antiretroviral (ARV) treatment, which is most effective on a full stomach; often leading them into periods of ill-health when they would struggle to earn, pushing them deeper into poverty.

Sarah and her husband borrowed 100,000 Malawi kwacha (~£78) to purchase some land and chickens to venture into chicken rearing. Since then, their lives have changed. "So far, we have managed to realise 1,000,000 kwacha from selling local chickens and we still have 80 chickens which we sell for 4,500 kwacha each. We are no longer the same. My husband has also

5 business support groups have realised £747 in additional income through two months of trading.

ventured into a business of carpentry and is providing more to take care of his family”. From their collective profits, Sarah and her husband have been able to build a small house, with an iron roof, and are now able to provide for themselves and their young children comfortably. With the savings they have contributed to the group they plan to plaster their house and build an outhouse. "We are all in health and we are adhering to our treatment. We are enjoying the fruits of VSL!"

Like the vast majority of Malawians, Sarah and her husband are part of the informal economy. They earn their daily food through a combination of semi-subsistence agricultural activities, unskilled labour and entrepreneurialism. Such a hand-to-mouth existence makes the very idea - and activity - of saving a difficulty. Perhaps this is why there is such low uptake of formal banking services across the country: less that 20% of Malawi's adult population has access to a bank account[2] .

Egmont is funding this Core Project for YONECO. 103 young people, like Sarah, were supported through YONECO's business groups in 2021.

Egmont Partner, the Youth Net Counselling Organisation (YONECO) knows the difference that accessing credit and other banking services can have on unlocking the economic

Sources: 1. UNAIDS, 2. Women's World Banking/UN Capital Development Fund

Education

PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

4 079 ,

Disadvantaged students who previously dropped out of secondary school succeeded in applying for tertiary education in Zimbabwe, where university enrolment is 8%.

CHILDREN ASSISTED WITH SCHOOL FEES SUPPORT, UNIFORMS OR OTHER ESSENTIALS

CHIEDZA CHILD CARE CENTRE, ZIMBABWE

2 210 ,

1 979 ,

YOUNG CHILDREN ENROLLED IN EARLY CHILDHOOD DEVELOPMENT CENTRES

Young children enrolled in 30 rural Early Child Development centres, providing them with stimulation, nutritional support and enabling their parents to farm and earn. COMMUNITY PARTNERSHIP FOR RELIEF & DEVELOPMENT, MALAWI

8

SCHOOL-BASED INCOME GENERATING PROJECTS STARTED TO PROVIDE SCHOOL FEE SUPPORT

484

1,629 ADOLESCENT GIRLS PROVIDED WITH REUSABLE SANITARY PADS HELPING THEM TO STAY IN SCHOOL

Children enrolled in a community school in an under-served area whose parents cannot afford school fees, helping them to gain an education and work towards a brighter future.

PARTNERS FOR LIFE ADVANCEMENT & EDUCATION PROMOTION, ZAMBIA

Of all world regions, sub-Saharan Africa has the highest number of out-of-school children. Over a fifth of children between the ages of 6-11 are out-of-school, followed by a third of youths between the ages of 12-14. Yet, education remains one of the most cost-effective means of bringing about long-term, sustainable positive change in the lives of those affected by AIDS, particularly amongst children from lower socio-economic backgrounds.

INCREASED INCOMES IMPACT PARTNERS 6 306 32 , PEOPLE HELPED WORKING IN THIS AREA

Access to Education ensures that children and adults are equipped with the skills to help themselves, providing a foundation for self-reliance and enabling them to work towards prosperity and away from poverty. In low-income countries, such as those our Partners work in, adults with a primary education are 20% less likely to be poor, while secondary education reduces the chances of being poor by almost 60%.

Yet, when girls are able to enter and stay in the classroom it yields benefits that extend beyond themselves to their communities and to the society at large. A woman with six or more years of education is more likely to seek prenatal care, assisted childbirth, and postnatal care, reducing the risk of maternal and child mortality and illness. Girls who remain in secondary school are less likely to become victims of child marriage or give birth before the age of 17.

The benefits of widespread, accessible education extend far beyond the earning potential of each individual pupil. With education, people are better prepared to prevent disease and to use health services effectively. For example, young people who have completed primary education are less than half as likely to contract HIV as those with little or no schooling.

Last year, the impact of school closures in response to COVID-19 continued to disrupt teaching, almost doubling the number of children out of school across the region. The 32 Partners working in this area rallied to continue teaching provision during this difficult period, delivering alternative lessons via mobile and radio technology, distributing home-lesson packs and ensuring that those children facing examinations were able to study and prepare.

Many of our Partners focus particular attention on increasing access to education for girls and young women. Across the region, 9 million girls between the ages of about 6 and 11 will never go to school at all, compared to 6 million boys. Their disadvantage starts early: 23% of girls are out of primary school compared to 19% of boys. By the time they become adolescents, the exclusion rate for girls is 36% compared to 32% for boys.

Below are listed some of the ways that our Partners helped vulnerable children and young adults affected by HIV & AIDS to access education through their projects in 2021.

- Providing sanitary pads so adolescent girls do not miss classes and teaching girls how to make reusable sanitary pads for use and income generation.
- Providing school uniforms, shoes, backpacks, pens, paper and other school essentials; often requisites for attending school in our countries of focus.
- Providing nutritional support and medical supervision to HIV+ students, ensuring they can attend school.
- Paying school tuition fees for vulnerable children who otherwise would not be able to attend school.
- Helping 'street-children' - with no family support - to attend school and learn the skills needed to provide for themselves once they have come of age.
- Providing additional tuition for children who have dropped out of school, ensuring they catch up on their lost studies.
- Providing additional classes in in-demand job skills, preparing young people to enter the workforce.
- Establishing community schools to widen education provision in poor and rural areas
- Providing alternative teaching sessions during school closures in response to COVID-19 including home lessons, workbooks, and mobile and radio teaching.
- Helping schools to set up income generating projects and nutritional support gardens so that the most vulnerable children can attend and have a hot meal each day.

PORTFOLIO OVERVIEW EDUCATION

Meeting the cost of education continues to be a significant challenge for families across the region.

While primary education is ostensibly free in each of the countries our Partners work in, under-investment in the education sector has resulted in a raft of compulsory fees that students have to pay to be enrolled in school and stay in class: parent-teacher association fees, school equipment dues, damage deposits, and uniforms amongst others. As children move into secondary education - which is not universal - these costs increase. Girls especially drop out of education during these years.

Our Partners work to increase attendance and boost academic performance in a variety of ways. Here are some of the common approaches that they share.

COMMUNITY SCHOOLS

In under-served rural and heavily populated urban areas our Partners set up or support community schools.

Even in urban centres children often have to walk many miles to attend the nearest government school, where class sizes range up to 100 pupils. Community schools provide additional school places closer to where children live.

FEEDING PROGRAMMES

Children that are well fed attend school more regularly and perform better during class.

Our Partners help schools to establish school feeding programmes and vegetable gardens so that children receive at least one hot meal a day, enabling them to concentrate on their studies.

SCHOLARSHIPS

Our Partners support academically gifted children to become the next generation's advocates for change.

Scholarships to attend elite schools and government boarding schools unlock pathways and careers previously undreamt of for disadvantaged, gifted children and encourage them to give back to their communities when they are able to.

SCHOOL COSTS SUPPORT

The costs of a child enrolling and staying in school are significant for the families that our Partners support.

Uniforms, shoes, books and direct support for school fees ease the burden on families, especially those caring for children orphaned by AIDS; support that helps to keep children in school while families work to increase their incomes.

MENSTRUAL PADS

Many adolescent girls miss classes due to inadequate access to menstrual hygiene products.

Our Partners provide schools and adolescent girls with menstrual pads or training in how to make re-usable pads, so that they can continue to attend class in comfort and with confidence.

SUPPORT FOR HIV+ CHILDREN

For children living with HIV, regularly attending school can be challenging.

Pupils with HIV need extra support to ensure that their nutritional and medical needs are being met. Our Partners help schools to establish support mechanisms for children with HIV providing them with a nurturing environment to learn.

SCHOOL IGAs

Our Partners help schools to set up Income Generating Activities (IGAs) to increase school provision for the neediest.

School 'kitchen' gardens and chicken rearing projects provide schools with produce to sell and use in school feeding programmes, while also offering pupils the opportunity to learn how to replicate 'kitchen' gardens at home.

SCHOOL CLUBS

Establishing school-based clubs helps to create an extra support network for vulnerable children.

Our Partners work with schools and teachers to set up school clubs, providing a safe environment for children to learn about HIV & AIDS and acting as a referral pathway to our Partners so they can intervene when a child needs extra support.

Healthier Futures

PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

87[%]

7 348 ,

Viral load suppression achieved amongst 96 HIV+ children living in remote rural areas who have been enrolled onto anti-retroviral therapy, safeguarding their health.

CHILDREN & ADOLESCENTS LINKED TO HIV TESTING & COUNSELLING SERVICE PROVIDERS

ACTION FOR SUSTAINABLE DEVELOPMENT, MALAWI

6 276 ,

YOUNG CHILDREN REACHED WITH HIV PREVENTION INFORMATION THROUGH MOBILE HELPLINES

HIV+ mothers who, following enrolment on Prevention of Mother to Child Transmission treatment, have given birth to babies testing negative for HIV. HIV/AIDS IN THE WORKPLACE PREVENTION PROGRAMME, MALAWI

236

STREET CHILDREN TREATED FOR PERSISTENT MEDICAL CONDITIONS

800

784

Families caring for young children provided with mosquito nets, helping to reduce incidence of childhood malaria; one of the leading causes of death amongst children under-5 in the region.

HIV+ CHILDREN ENROLLED ON ANTIRETROVIRAL TREATMENT

FOREVER ANGELS, TANZANIA

As global attention has turned to COVID-19, progress on providing medical responses to HIV & AIDS has stalled. However, increasing access to testing and treatment will end the epidemic.

HIV & AIDS Education remains vital so people know what steps to take to protect themselves and to encourage more to get tested. Increasing access to Testing and Counselling services means those who test positive are able to access ARV treatment and those who test negative

can continue to take measures that reduce their chance of infection. Ensuring those who are living with HIV adhere to their ARV regimens and can access appropriate Treatment and Care can virtually eliminate the risk of transmission.

TESTING & COUNSELLING

IMPACT PARTNERS 22 15 812 , PEOPLE HELPED WORKING IN THIS AREA

TREATMENT & CARE IMPACT PARTNERS 12 331 21 , PEOPLE HELPED WORKING IN THIS AREA

HIV & AIDS EDUCATION IMPACT PARTNERS 51 358 39 , PEOPLE HELPED WORKING IN THIS AREA

Listed below are some of the approaches our Partners use to help vulnerable children and families to access testing and treatment and equip them with the knowledge to protect themselves from HIV.

- Training families to care for ill family members, and providing training home-care for HIV+ people.
- Working to reduce stigma and discrimination, enabling more people to be open about HIV and promoting testing amongst those who do not know their HIV status.
- Providing access to healthcare for HIV & AIDSassociated diseases such as tuberculosis by those unable to afford treatment.
- Ensuring pregnant HIV+ women are enrolled on treatment programmes, preventing them from passing the infection onto their babies.
- Creating support groups for HIV+ mothers to share their experiences and better care for themselves and their children.
- Providing family planning methods to reduce the chance of infection.
- Undertaking campaigns and outreach work to educate communities on how to avoid infection, seek treatment and follow behaviours that lead to healthier lives.
- Increasing access to HIV testing and counselling through ‘moonlight’ and mobile HIV testing clinics in heavily trafficked areas.
- Running mobile and SMS helplines so that community members can access confidential information on sexual health and HIV.
- Enrolling parents and caregivers in HIV support groups to ensure they adhere to treatment.
- Helping parents and caregivers to collect anti-retroviral drugs for their HIV+ children.
- Providing additional support to rural health centres, enabling more efficient use of resources and staff.

PARTNER INTERVIEW HEALTHIER FUTURES

Progress in reducing HIV infections has stalled amongst young people and adolescents in each of Egmont's countries of focus - especially Zimbabwe. We sat down and talked with Viola George of the Matebeleland AIDS Council (MAC), Egmont Award Winner for the Most Inspirational Person, to discuss why this is the case and to explore some of MAC's responses, drawn from her experiences of working through the height of the epidemic.

tested. We also use community ARV deliveries, where the communities self-organise to make sure that everyone has access to HIV medication.

You've worked for MAC in Bulawayo for two decades now. During that time HIV prevalence has dropped from around one in five people infected to around one in eight. How did you become involved with MAC and educating people about HIV?

How do the community ARV deliveries help?

Many people living in the communities that MAC work in are either afraid of attending medical centres regularly because they fear that people will deduce that they are HIV+, or because the significant transport costs are too much for them to afford. These groups allow the 410 HIV+ community members we support to collect their ARVs by sending one person from each group to collect the medication of all of the other group members, greatly reducing their need to individually attend medical centres. ARV drugs are highly effective, but an interruption in the treatment can lead to resistance to the medication, and alternatives in Zimbabwe are hard to find. So it is really important that we help the adolescents adhere to their treatment.

My first job with MAC started in 1999. I was a 'New Start' counsellor, which involved convincing people to take an HIV test and providing emotional support and guidance to those who tested positive. It was exciting because I felt like I was making a difference. But it was also very emotionally draining. During that time there was a lot of infections.

The introduction of anti-retroviral (ARV) treatment has seen deaths reduce from 120,000 to 22,000 per year. How has this changed the impact of the epidemic on the communities you work in?

There have been significant changes in the landscape of the epidemic across Zimbabwe. The HIV burden is still considerable: 1.3 million people - almost 10% of the populace - are living with the virus, and the continuing death-toll means that half a million children are growing up today without a parent. Yet, the reduced number of annual deaths and infections means that the youth of today are growing up in a world where HIV feels more remote to them. For the communities that MAC works with this means that HIV is not discussed enough, consequently there is an increase in self-stigma and denial - particularly amongst young people. If you are 15 or 14 you don’t want to tell your friend that you are HIV+. This is where the struggle is now, the self-denial. Some of them are born with HIV, take their ARVs, but when they reach their teenage years, they know people will realise they are HIV+, so they stop. This puts their own health at risk, but also increases the chances of passing on their infection at the age when they are engaging in risky behaviours.

Has Egmont's support changed your approach?

Our programmes supported by donors other than Egmont are much more prescribed; they are quite specific in what we can spend the money on and we have to change our programme to fit. With the Egmont grant we are able to address more of the basic needs, such as school fees, nutrition, livelihoods programmes. Egmont’s supported projects address more of the social impact, and as a result we see stronger results in our programmes.

How do you see your project developing?

I have been inspired by other Egmont Partners, particularly by their vocational training programmes. We would love to set up a vocational training centre, one that was run by the community members themselves, to address the economic impacts of HIV &AIDS in our community.

How do you address the issue of denial and stigma?

We provide a lot of information, a lot of HIV testing, we do contact tracing, you find the contacts and get them to be

“Working at MAC made me realise how much need our communities have, and how I could assist with even the little that I have.”

Sources: UNAIDS Data 2022.

Safer Communities

PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

32[%]

11 952 ,

Reduction amongst 1,600 Samburu families in those who report that they plan for their daughters to undergo Female Genital Mutilation when they come of age.

PEOPLE REACHED THROUGH CAMPAIGNS TO END FEMALE GENITAL MUTILATION OR CHILD MARRIAGES

SPONSORED ARTS FOR EDUCATION, KENYA

13 930 , CHILDREN EDUCATED ON THEIR RIGHTS AND PROTECTIONS

1 200 ,

Number of child marriages reported and prevented after 2,820 community members and local leaders were reached through 'Stop Child Marriage' campaigns.

83 YOUNG WOMEN TRAINED IN SELF-DEFENCE

LIFE CONCERN, MALAWI

649[%]

33

Increase - since project baseline - in the number of child abuse and neglect cases being reported and resolved by local voluntary Child Protection Committees.

VICTIMS OF HUMAN TRAFFICKING IDENTIFIED AND SUPPORTED

ACE AFRICA, TANZANIA

HIV & AIDS affects all sections of society and every community across sub-Saharan Africa. The chance of infection has magnified the impact of adverse cultural traditions and societal structures, increasing the vulnerability of women and children to abuse, neglect and sexual violence. As a result, young women and girls are infected at a younger age and more likely to be infected than their male counterparts. Addressing the long-standing and evolving reasons for this vulnerability helps protect the next generation from HIV & AIDS and creates safer communities for women and children today.

VIOLENCE AGAINST WOMEN

IMPACT PARTNERS 27 225 16 , PEOPLE HELPED WORKING IN THIS AREA

Through a combination of education, group therapy and support they help those who have experienced abuse to heal and build towards a better future. Below are some of the

Our Partners use group work and outreach campaigns aimed at Preventing Violence Against Women , particularly sexual violence which increases the chance of infection. They also work to reduce the impact of violence, linking those who need it to healthcare and treatment.

ways they achieved this in 2021.

- Supporting community groups that work with victims of abuse and sexual violence, providing them with emotional and psychological support.
- Preventing early marriage, allowing young girls to live the lives they wish to pursue.
- Helping to stop the practice of female genital mutilation (FGM).
- Enrolling men and boys in courses that challenge and change their perceptions of masculinity and promote positive behaviours.
Reaching out to traditionally entrenched communities to help change behaviours that adversely affect women and young girls.

PREVENTING CHILD ABUSE IMPACT 9 522 , PEOPLE HELPED

PARTNERS 24 WORKING IN THIS AREA

Our Partners’ work also focusses on Preventing Child Abuse . They set up community structures such as 'Child Protection Committees' and school-based programmes that provide a means for children to learn their rights and protections and report cases of child labour, neglect, abuse

and exploitation. Importantly, they work with men and women, boys and girls, to change attitudes and behaviours and work towards fairer, safer communities. Some of our Partners' approaches to ending incidents of child abuse and neglect are detailed below.

- Reducing cases of child labour and exploitation.
- Establishing school clubs and community groups that enable children to come forward and report incidents of abuse and neglect.
- Establishing local by-laws with the co-operation of traditional leaders that ensure cases of abuse are reported and dealt with.
- Promoting awareness of the rights of children and the right to education of girls amongst older generations.
- Co-operating with existing agencies and service providers - such as hospitals, the police and courts - to ensure child friendly services are available.
- Helping victims of child abuse to access legal recourse and protection .

PARTNER HIGHLIGHT SAFER COMMUNITIES

Last year, Egmont supported a new Partner, Masana, in Mozambique to work with young men and boys living on the streets of Maputo and re-integrate them within their extended family networks.

family and explore the possibility of re-integrating them once the children express a desire to return home.

Mozambique has one of the highest populations of children orphaned through AIDS in the world. An estimated 1.1 million children under the age of 17 are growing up within its borders without a parent due to the impact of the epidemic. The pressure this places on the extended family safety net has led many children to grow up without their basic needs being met. Around 41 per cent of children are chronically malnourished[1] . The ongoing insecurity in many parts of the country - continuing echoes of the long civil war - has further increased social dislocation and fractured family support networks.

As this is a new activity for Masana, they are starting small with beds in the home for just four boys at a time. During 2021, three groups were supported at the home. Once the boys were placed in the home, they are enrolled in lessons to help improve their basic literacy and numeracy as well as practical life skills such as cooking. They were tested for HIV and underwent a health assessment to ensure that their needs are met and they were enrolled on treatment if necessary. Masana's staff then begin work seeking out grandparents, aunts and uncles or even grown up siblings.

One of the results is the phenomenon of street children, those with no family members to care for them forced onto the street or those who join existing groups of street children as street life is preferable to the conditions they find at home. "Maputo is a city with innumerable homeless youth" says Sarah Mondlane, Masana's Programme Co-ordinator, "Kids find their way to the streets for all sorts of reasons. Some have fled abuse. Others have experienced the loss of one or both parents to HIV. Some have been drawn by the glitz and glamour of the big city and the prospect of a better life. Most fail to find that better life here."

Once the boys' extended family members are traced Masana works with them to boost their incomes through agricultural training and other inputs. 78 family members across 14 families benefited from this training in 2021, enjoying the increased food security that it unlocked. Alongside this training, the boys at the transitional home help out on similar agricultural projects ensuring they are able to carry this learning forward at home once reintegrated.

Dercio (pictured opposite, bottom left) was one of the boys helped by Masana in 2021. He began living on the streets at just 12 years old. He came to Masana's attention through their street outreaches where he expressed a desire to move away from life on the streets. It was not an easy transition and for the first month in the home Dercio was quick to anger and was inpatient with the Masana staff and other boys. But, gradually he began to change and began to be the first to clean up after himself, show interest in his school work and began to sit with the Masana staff and ask many questions, including about where his family were now. Masana was able to trace a family member and enrol them in the programme and now Dercio has been re-integrated into his family's home, enrolled in a local school into a 4th Grade class and supported with a chicken coop and chickens. Masana report that he is now doing very well.

Helping these children involves the careful building of trusting relationships and working with their families to ensure the issues that drove them to the street are resolved, while building the capacity of caregivers to provide and care for them. Egmont helped Masana to implement an Innovation Project last year to provide 14 boys aged 8 - 15 years old living on the streets with a path back to their families and to adequate care. This small project enabled a development in Masana's approach by providing a transitional home in Catembe, a peri-urban suburb across Maputo Bay, for the boys to live in while Masana worked with their families to ensure their re-integration went well.

At the home the children were provided with access to healthcare and education creating an opportunity for Masana’s staff to build deeper relationships with kids on the streets. The boys benefit from a more caring environment, hot food is prepared every day by Mama Julia, the house mother. This supportive environment means that the boys are able to open up and Masana can begin the process of tracing each child's

Masana re-integrated 14 street boys through their Egmont supported project last year. As a result, they have been upgraded to a Core Project for 2022 and expanded support with an aim of re-integrating 30 boys in 2022.

“We offer them a safe place they can run to when they are hurt or scared. We supply them with as much love as we can muster, but most of all what we provide is a way out.”

32 Sources: 1. UNICEF, 2022

FINANCIAL REVIEW

of any multi-year projects already started (any final tranches due on one-year projects under way are already recorded in the accounts as committed);

Income

Income in 2021 was £1,477,908. In addition, £98,809 was donated directly by an Egmont supporter to fund three Egmont-approved and monitored projects in Kenya and Zimbabwe, bringing the total funds raised in 2021 to £1,576,717. This was achieved without organising any major fundraising events in 2021. Egmont continues to maximise its income through the Government’s Gift Aid scheme

have in hand before each of the two regular call-outs in a year are initiated, enough funding to cover 75% of the potential cost, if all the projects Partners are being invited to submit in that call-out were approved.

If any of these fails to be achieved, the Finance Manager should report immediately to F&G and Programme Committee, to consider if corrective action is needed.

Expenditure

Grants made in 2021 totalled £1,168,211 (this figure increases to £1,267,021 when the third-party direct funding of £98,809 to three Partners is included). This amounted to an increase compared to 2020 expenditure due to a further 4 Strategic grants being committed in 2021. The Egmont Trust ended 2021 supprting a portfolio of 53 Partners of which 7 were Strategic Partners. Resources expended on operational costs are covered in their entirety by Egmont’s Trustees and Patrons. These amounted to £367,044 in 2021, 23% of total funds raised.

Similarly, if at the start of any year funds in hand and unallocated total more than 100% of last year’s grant-making expenditure, the Finance Manager will report to both Committees, to consider whether corrective action is needed, bearing in mind that any decision to increase the rate of grant spending is likely to take at least a year to show results, and maintaining the aim of disbursing any unrestricted grant funds by the end of the second financial year following their receipt.

Reserves Policy

Reserves Held

Our policy governing our financial reserves is designed to help us ensure that we do not hold too much of our money for too long before spending it for the purposes for which it was donated; and that we are never left with so little money that we cannot, if necessary, wind our operations up tidily. It sets an optimum level of reserves within those two extremes, so we can use any variance from it as a management tool, to prompt us to consider any need to change our practice. In our case, calculating the optimum reserve level needs to take into account that the bulk of our donations arrive in the last quarter of the year, so our cash levels fluctuate widely.

Total reserves held at the end of 2021 stood at £2,151,955. Restricted reserves of £214,774 were being held at the end of the year for operational costs in 2022 in line with Egmont’s reserves policy. Foreign Currency translation fund was £60,043.

Please Note – The Egmont Trust has now transferred over to the recently registered Charitable Incorporated Organisation – Number 1186451. All reserves have been transferred over.

Foreign Exchange Policy

Donations are held in the currency received or are converted to reflect the grant making currency and operational expenditure levels. The Finance & Governance Committee makes recommendations on conversion processes, which are implemented by the Finance Manager.

We will have in hand at the start of each year:

50% of our operational budget for the year ahead, to ensure that we could wind up our affairs properly in the case of some calamity;
enough funding to cover the follow-on years

Investment Policy

Egmont’s primary objective is to preserve capital rather than maximise returns. The maximum balance to be held at any one time with any one financial institution is £1.5million. Balances are managed by the Finance Manager who immediately reports exceptions to the Finance and Governance Committee. The Trustees retain the power to invest in such assets as they see fit.

Risk Management

The Trustees have identified potential risks to the work of the Trust and put in place systems and procedures to manage these. Risks include financial exposure, personal health and security of staff, reputational and programming risks and changes to the socio-political environment where we and our Partners operate. We review these risks and necessary mitigations on a regular basis. Egmont has strong local contacts in each country where we operate and benefits from their advice. Our disbursement, monitoring and reporting systems also contribute to minimising risk. They are sufficiently flexible to enable Partners to make appropriate adjustments to reflect external factors, such as exchange rate fluctuations, without undermining the basic objectives or integrity of their projects.

Conflicts of interest

Potential conflicts of interest for staff or Trustees must be declared at each meeting and are managed as appropriate to the circumstances. Applications for Egmont grants often arise from within our local networks of contacts in Africa. However, all proposals for funding are vetted and approved by the 4-member Programme Committee.

STRUCTURE, GOVERNANCE & MANAGEMENT

annually that they are fit and proper to serve as a Trustee.

Finance & Governance Committee deals with the annual budget and accounts, compliance with statutory requirements and governance matters, terms and conditions for staff, and salary levels.

Governing Document

In 2019, it was announced by the Board of Trustees that The Egmont Trust would begin the process of incorporation towards becoming a Charitable Incorporated Organisation (CIO), having previously operated under Trust Deed since 9 Februray 2005, registered with the Charity Commission under the charity number 1108199. On 11 September 2019, the new CIO was registered with the Charity Commission under charity number 1186451.

Trustee induction

New Trustees receive a formal induction, where they become familiar with the Egmont approach, how we work with our Partners, and what is expected from them as a Trustee in terms both of governance and raising funds for the organisation.

The minutes of all the sub-committees are made available to the full Board of Trustees.

Egmont’s Staff Team

There have been no changes to our staffing numbers since the last Annual Report. Since March 2020 all our staff have mostly worked remotely, and all Trustee Board and Committee meetings have been virtual. We have adjusted our working practices to address this challenge, including new methods of “virtual visits” to Partners while we could not visit them physically, and new habits of virtual cross-team collaboration. Starting in late 2021, we resumed our regular visits to project sites.

Trustee led sub-committees

The Board of Trustees meets quarterly to ratify decisions and set strategy. Beneath it are three Trustee-led sub-committees, which also meet at least quarterly:

On 1st January 2021 all assets and liabilities of The Egmont Trust (1108199), were transferred to the new CIO (1186451) We continue to operate as The Egmont Trust and all of our charitable aims, activities, Trustees, staff etc. remain the same.

Fundraising Committee is responsible for fundraising strategy, targets and coordination, organising fundraising events and producing supporter communications.

The charity is governed by CIO Governing Document dated 11 September 2019.

Programme Committee manages the programme strategy i.e. the assessment and selection of grant recipients, and the monitoring of project performance.

Appointment of Trustees

The Trust Deed requires a minimum of three Trustees to be appointed. There are currently six Trustees. They each declare

STATEMENT OF PUBLIC BENEFIT

The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives, planning future activities and setting the grant-making policy for the year.

Egmont’s supported work demonstrates public benefit in the following ways:

Addressing the needs of some of the world’s most disadvantaged children and their communities through access to HIV & AIDS treatment, and through the provision of good nutrition, poverty alleviation, education and counselling, agricultural and vocational training, and safer environments.
Enabling local Partner organisations to work together to share information, experiences and expertise, and thereby improve their services.

AUDITED FINANCIAL STATEMENTS FOR THE PERIOD 19 NOVEMBER 2020 TO 31 DECEMBER 2021

Reference and Administrative Details

Charity name The Egmont Trust

Bankers Clydesdale Bank, 35 Regent Street, London, SW1Y 4ND

Auditors HSJ Audit Limited, Severn House, Hazell Drive, Newport, NP10 8FY

Charity registration number 1186451

Principal address 11 Cathedral Road, Cardiff, CF11 9HA

Investment Advisor CCLA Investment Management Ltd, COIF Charity Funds, 80 Cheapside, London, EC2V 6DZ

Trustees Clare Evans, Jeremy Evans (Chairman), Rachel Foster, Rory Powe, Stuart Powers, Martin Wooodcock

Joint Chief Executive Officers Colin Williams OBE, Matthew Kidd

Statement of Trustee Responsibilities

Independent Auditors’ Report to the Trustees of The Egmont Trust

The Trustees are responsible for preparing the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Opinion

We have audited the financial statements of The Egmont Trust (the 'charity') for the period from 19 November 2020 to 31 December 2021, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, 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 United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 Charities SORP;
make judgements and estimates that are reasonable and prudent;

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' 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 its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

state whether applicable 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 proper accounting records that 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.

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 results for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

Approved by the Trustees of the charity on .................... and signed on its behalf by:

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

Mr Jeremy Evans Chairman

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.

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.

Responsibilities of Trustees

Conclusions relating to going concern

As explained more fully in the Statement of Trustees' Responsibilities, 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 the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the Trustees use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

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.

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

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.

Independent Auditors’ Report to the Members of The Egmont Trust

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.

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.

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.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its ............................................................ Date:............................. environment obtained in the course of the audit, we have not identified material misstatements in the Financial Statements . Mr Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor)

Mr Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor)

For and on behalf of HSJ Audit Limited, Statutory Auditor Severn House

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

Hazell Drive

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

Newport NP10 8FY

AUDITED FINANCIAL STATEMENTS FOR THE PERIOD 19 NOVEMBER 2020 TO 31 DECEMBER 2021

Statement of Financial Activities

Statement of Financial Activities FOR THE PERIOD 19 NOVEMBER 2020 TO 31 DECEMBER	2021
Note	Unrestricted funds Restricted funds Total 31 Dec 2021 £ £ £
Income and Endowments from: Donations and legacies Investment income 3 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds Total funds carried forward 14	3,047,536 627,561 3,675,097 11 - 11
	3,047,547 627,561 3,675,108
	(1,170,409) (352,744) (1,523,153)
	(1,170,409) (352,744) (1,523,153)
	1,877,138 274,817 2,151,955
	1,877,138 274,817 2,151,955

All of the charity's activities derive from continuing operations during the above period.

Cash Flow Statement

Cash Flow Statement
Note	31 Dec 2021 £
Cash flows from operating activities Net cash income Adjustments to cash flows from non-cash items Investment income 3 Working capital adjustments Increase in debtors 11 Increase in creditors 12 Net cash fows from operating activities Cash flows from investing activities Interest receivable and similar income 3 Net increase in cash and cash equivalents Cash and cash equivalents at 19 November Cash and cash equivalents at 31 Decemberr	2,151,955 (11)
	2,151,944 (1,146,276) 557,670
	1,563,338 11
	1,563,349 -
	1,563,349

Balance Sheet

Balance Sheet
Note	31 Dec 2021 £
Current assets Debtors 11 Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net assets Funds of the charity: Restricted funds Unrestricted income funds Unrestricted funds Total funds 14	1,146,276 1,563,349
	2,709,625 (557,670)
	2,151,955

	274,817
	1,877,138
	2,151,955

The financial statements on pages 5 to 17 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

............................................................

Mr Jeremy Evans Trustee

All of the cash flows are derived from acquisitions in the current financial period.

Notes to the Financial Statements

1. Accounting policies

Statement of compliance

Donations and legacies

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Basis of preparation

The Egmont Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

Going concern

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

AUDITED FINANCIAL STATEMENTS FOR THE PERIOD 19 NOVEMBER 2020 TO 31 DECEMBER 2021

Notes to the Financial Statements - cont.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

Governance costs include costs of the preparation and audit of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if they do not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as noncurrent liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. Income from donations & legacies

2. Income from donations & legacies
	Unrestricted funds Designated £ General £ Restricted funds £ Total 31 Dec 21 £
Donations and legacies; Donations from individuals Gift aid reclaimed Grants; Donated from former entity - The Egmont Trust (1108199)	46,946 1,027,543 396,578 1,471,067 - 6,831 - 6,831 25,000 1,941,216 230,983 2,197,199
	71,946 2,975,590 627,561 3,675,097

3. Investment income

	Unrestricted funds
	General £	Total 31 Dec 21 £
Interest receivable and similar income;
Interest receivable on bank deposits	11	11

4. Expenditure on charitable activities

4. Expenditure on charitable activities
	Activity under- taken directly £ Grant funding of activity £ Activity support costs £ Total 31 Dec 21 £
Alleviation of the impact of HIV & AIDS Grant management Fundraising & publicity Finance & governance Ofce & data management Other Foreign currency	2,198 1,168,211 - 1,170,409 - - 149,417 149,417 - - 104,217 104,217 - - 56,063 56,063 - - 57,347 57,347 - - 5,003 5,003 - - (19,303) (19,303)
	2,198 1,168,211 352,744 1,523,153

Trade creditors

Trade creditors are obligations to pay for goods or services that have

AUDITED FINANCIAL STATEMENTS FOR THE PERIOD 19 NOVEMBER 2020 TO 31 DECEMBER 2021

Notes to the Financial Statements - cont.

5. Analysis of governance and support costs

5. Analysis of governance and support costs
Support costs allocated to charitable activities Basis of allocation	Governance costs £ Finance costs £ Administration costs £ Total 31 Dec 2021 £
Grant management A Fundraising & publicity A Finance & governance A Ofce & data management A Other A Foreign currency A	- - 149,417 149,417 - - 104,217 104,217 6,029 - 50,034 56,063 - - 57,347 57,347 - - 5,003 5,003 - (19,303) - (19,303)
	6,029 (19,303) 366,018 352,744

Basis of allocation

Reference

Method of allocation

Direct costs plus allocated central costs on a time spent basis

B Egmont US and partner meetings

6. Grant-making

Analysis of grants

6. Grant-making Analysis of grants
	Grants to institutions
	31 Dec 2021
Analysis ofgrants	£
Alleviation of the impact of HIV & AIDS	1,168,211

The support costs associated with grant-making are £151,615. Below are details of material grants made to institutions.

7. Net incoming/outgoing resources

		31 Dec 2021
	Net incoming/outgoingresources for theperiod include:	£
	Operating leases - other assets	14,296
	Audit fees	3,726

8. Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

9. Staff costs

9. Staf costs
The aggregatepayroll costs were as follows:	2021 £
Wages and salaries 276,716 Social security costs 18,365 Other pension costs 7,814 302,895 Te monthly average number of persons (including senior management team) employed by the charity during the period expressed as full time equivalents was as follows: 31 Dec 2021 No.	276,716 18,365 7,814
	302,895
Charitable activities 6

5 of the above employees participated in the Defined Contribution Pension Schemes.

No employee received emoluments of more than £60,000 during the period

Name of institutions Activity	2021 £
Kenya Alleviation of the impact of HIV & AIDS Malawi Alleviation of the impact of HIV & AIDS Mozambique Alleviation of the impact of HIV & AIDS Tanzania Alleviation of the impact of HIV & AIDS Zambia Alleviation of the impact of HIV & AIDS Zimbabwe Alleviation of the impact of HIV & AIDS	209,185 321,000 107,995 81,307 150,575 298,149
	1,168,211

10. Taxation

The charity is a registered charity and is therefore exempt from taxation.

11. Debtors

11. Debtors
	31 Dec 2021 £
Prepayments Other debtors	6,510 1,139,766
	1,146,276

AUDITED FINANCIAL STATEMENTS FOR THE PERIOD 19 NOVEMBER 2020 TO 31 DECEMBER 2021

Notes to the Financial Statements - cont.

12. Creditors: amounts falling due within one year

12. Creditors: amounts falling due within one year
	31 Dec 2021 £
Trade creditors Other creditors	549,437 8,233
	557,670

13. Obligations under leases and hire purchase contracts

Operating lease commitments

13. Obligations under leases and hire purchase contracts Operating lease commitments
Total future minimum leasepayments under non-cancellable operatingleases are as follows:	31 Dec 2021 £
Land and buildings Within one year Between one and fve years	12,000 22,000
	34,000

14. Funds

14. Funds
	Incoming resources £ Resources expended £ Transfers £ Balance at 31 Dec 2021 £
Unrestricted funds General General fund Peer Partner Activities Designated Treebeard Trust US Foundation Total unrestricted funds Restricted funds Operational costs Egmont US Foreign Currency Translation Total restricted funds Total funds	2,975,607 (1,096,266) (2,203) 1,877,138 (6) (2,197) 2,203 -
	2,975,601 (1,098,463) - 1,877,138
	50,000 (50,000) - - 21,946 (21,946) - -
	71,946 (71,946) - 1,877,138
	3,047,547 (1,170,409) - 1,877,138
	586,821 (367,044) (5,003) 214,774 - (5,003) 5,003 - 40,740 19,303 - 60,043
	627,561 (352,744) - 274,817
	3,675,108 (1,523,153) - 2,151,955

The specific purposes for which the funds are to be applied are as follows:

The Operational Costs Fund - provided by Trustees and Patrons to cover the operating costs of the Charity, thus ensuring that all other income raised can be utilised on primary charitable activities.

The Treebeard Trust Fund - to be used to support HIV/AIDS at Workplace Intervention Programme (HAWIP) and Pamuhacha HIV/AIDS Prevention Project.

Foreign Currency Funds represents the gains or losses year on year upon translation of U.S. dollar bank accounts or debtors in to the charities functional currency.

Peer Partner Activities - Costs associated with peer partner activities such as in-country partner meetings for shared learning, funded by the Trustees and Patrons.

US Foundation - used to support Child Protection Society (CPS).

Waterloo Foundation - used to support specific Egmont Partners in 2021, Wild 4 Life (W4L), Youth Advocates Zimbabwe (YAZ), Aids Counselling Trust (ACT).

15. Analysis of net assets between funds

Unrestricted funds

	Unrestricted funds
	General £	Restricted funds £	Total funds £
Current assets Current liabilities Total net assets 16. Analysis of net funds	2,434,808 (557,670)	274,817 -	2,709,625 (557,670)
	1,877,138	274,817	2,151,955
	At 19 Nov 2020 £	Cash fow £	At 31 Dec 2021 £
Cash at bank and in hand Net debt	-	1,563,349	1,563,349
	-	1,563,349	1,563,349

THE BOARD

JEREMY EVANS

CHAIRMAN OF THE BOARD

Member of: Fundraising Committee; Finance & Governance Committee

Jeremy is Senior Partner of Redburn, a UK-based equities broking firm. Previously, he was Head of European Equities at Flemings. MA, Magdalene College, Cambridge University.

CLARE EVANS

TRUSTEE

Chairwoman of: Programme Committee, Member of: Fundraising Committee

Clare worked for ActionAid (19972000) initially as Africa Programme Officer and then as HIV & AIDS Policy Officer. Prior to this, she was at VSO (1994-97), including a post as Programme Officer in Zambia. BA (Hons), Manchester University.

RACHEL FOSTER TRUSTEE

Chairwoman of: Fundraising Committee

Born in Pakistan, Rachel grew up in Kenya. Over her 40-year career in education, Rachel has worked as a teacher and headteacher in schools in Kenya and the UK; most recently, at the prestigious Windlesham House School. After retiring from teaching in 2020, Rachel joined Egmont’s board in the following year.

RORY POWE

TRUSTEE

Rory joined Man GLG in 2014 from Powe Capital, the firm he founded in 2002. Prior to this, he was a fund manager at INVESCO, where he managed the European Growth Fund Unit Trust (1991-2001) and was head of the European Equity Team (19932001). BA (Hons), Trinity College, Oxford University.

STUART POWERS

TRUSTEE

Chairman of: Finance & Governance Committee

Stuart is Chief Investment Officer at Hengistbury Investment Partners, a global equities fund. Prior to this, he was a partner at TCI (2004-2010) and a director at Cazenove (19982004). Stuart qualified as a Chartered Accountant with Deloitte & Touche in 1997. BA (Hons), St Peter’s College, Oxford University.

MARTIN WOODCOCK TRUSTEE

Martin is Chief Executive Officer of Rondine Capital, a London & Harare based investment firm specialising in the stock markets of sub-Saharan Africa. Previously, Martin was CEO of Millgate Capital, a hedge fund based in New York, for 13 years. Martin also has business interests and a house in Kenya. BA (Hons), Magdalene College, Cambridge University.

THE TEAM

COLIN WILLIAMS OBE

Chief Executive Officer (Joint)

Colin spent 22 years with ActionAid, setting up country programmes in Somalia, Uganda (where he was part of the successful early response to HIV & AIDS) and Malawi, then becoming Africa Region Director. He was awarded an OBE for services to fighting poverty in Africa in 2002. Partly based in Zambia, Colin helped set up Egmont in 2005. BA, Economics, Sheffield University; MA, Carleton University, Ottawa.

MATTHEW KIDD

Chief Executive Officer (Joint)

Matthew joined The Egmont Trust in 2020 as Joint Chief Executive with specific responsibility within the finance and fundraising functions of the charity. Previously, Matthew worked as the British High Commissioner to Cyprus. BA, Classics & Modern Languages, Oxford University.

NOMUHLE GOLA

Programme Manager

Based in Harare, Nomuhle joined Egmont in 2016 bringing extensive professional and local experience to the post having previously been Country Director for Zimbabwe at Restless Development. MSc, International Relations, University of Zimbabwe.

MUBANGA KAPUKA

Programme Support Officer

Mubanga is based in Zambia and joined Egmont in 2018 to assist with partner administration and project oversight. BEng, Environmental Engineering, Copperbelt University.

LOUISE DIXON

Finance Manager

Louise joined Egmont in 2017 and brings over 17 years’ financial management experience in the charitable and public sector to the Egmont team.

JANE ARNOLD

Finance Officer

Jane joined the Trust in 2015 having previously worked for Cardiff Council, RK Aggarwal Ltd and General Electric.

JAKE WESTLAKE

Fundraising & Communications Manager

Jake joined Egmont in 2014 and now leads Egmont's fundraising strategy and communications output. BA (Joint Hons), Politics & Philosophy, University of Sussex; MSc, International Development, University of Bristol.

HOW YOU CAN DONATE

Scan the QR code here or visit our website: egmonttrust.org/donate

Making a significant donation to an Egmont project means that you will be recognised as a major donor, and will receive regular updates on the impact of your donation. We welcome multi-year commitments so our partners can plan for long-term goals and deliver sustainable results. Help children and families affected by HIV & AIDS. 100% goes directly to projects in Africa.

DONATE

Our rigorous partner selection, assessment and reporting systems ensure that we are able to direct the monies entrusted to us to where they are most needed and able to produce the greatest results. As such, we focus on linking effective and inspirational grassroots projects with donors who are seeking the greatest impact from their charitable investments, building these relationships and providing our supporters with updates on the impact of their donations.

Bank transfers and standing orders: Please use the following details: Clydesdale Bank plc, Sort Code 82-11-07, Account Number 40078611 . Standing order forms are available on our website.

Cheques: Please make cheques payable to ‘The Egmont Trust’ and send to The Egmont Trust, 11 Cathedral Road, Cardiff CF11 9HA.

FUNDRAISE

Our fundraisers have done some incredible things to raise money for children affected by HIV & AIDS. Whether it’s climbing Mt. Kilimanjaro, cycling from one end of Madagascar to another or a fun run with friends and family, our supporters are always finding new ways to fundraise for our Partners.

THE EGMONT US FOUNDATION

The Egmont US Foundation is a US non-profit organisation, tax exempt under Section 501(c)(3) of the US Internal Revenue Code and provides a tax-efficient way for US residents to support the life-changing impact this charity is achieving through its work.

Please visit The Egmont US Foundation's website for more details: egmontusfoundation.org

If you’re interested in supporting Egmont, please get in touch!

Online: please visit our website, or get in touch: info@egmonttrust.org

The Egmont Trust, 11 Cathedral Road, Cardiff, CF11 9HA

info@egmonttrust.org +44 (0)29 2240 1733 egmonttrust.org

Egmont respects your privacy! Our privacy policy is available on our website. To update your mailing preferences please contact us. Some names and identifying details have been changed to protect the privacy of individuals. All photos in this Annual Review depict Egmont projects and beneficiaries and are used for purely illustrative purposes. Egmont is a USD grant-making organisation. Figures in this document are recorded in GBP, which is ascertained from the BoE spot rate on the day the grant is committed. All figures correct as of 31st December 2021

2021-12-31-accounts

ANNUAL REPORT INCLUDING AUDITED FINANCIAL STATEMENTS

CONTENTS

AT

£1.66m

A

THE IMPACT OF AIDS

PORTFOLIO STRATEGY

OUR COMPARATIVE ADVANTAGE IS OUR ABILITY TO SELECT FROM THE VERY BEST LOCAL RESPONSES THAT ADDRESS THE REAL ISSUES ON THE GROUND.

PROMOTING LOCAL SOLUTIONS

BACKING WHAT WORKS

STRONGER CIVIL SOCIETY

FLEXIBLE GRANT STRUCTURE

CROSS-FERTILISATION OF IDEAS

OUR 100% FUNDING PROMISE

TOGETHER, THEY REACHED MORE CHILDREN AND FAMILY MEMBERS AFFECTED BY HIV & AIDS THAN IN ANY PREVIOUS YEAR .

Improving Livelihoods PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

IMPROVED NUTRITION IMPACT PARTNERS 9 835 32 , PEOPLE HELPED WORKING IN THIS AREA

IMPACT HIGHLIGHT IMPROVING LIVELIHOODS

5 business support groups have realised £747 in additional income through two months of trading.

Education

PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

2 210 ,

8

INCREASED INCOMES IMPACT PARTNERS 6 306 32 , PEOPLE HELPED WORKING IN THIS AREA

PORTFOLIO OVERVIEW EDUCATION

COMMUNITY SCHOOLS

FEEDING PROGRAMMES

SCHOLARSHIPS

SCHOOL COSTS SUPPORT

MENSTRUAL PADS

SUPPORT FOR HIV+ CHILDREN

SCHOOL IGAs

SCHOOL CLUBS

Healthier Futures

PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

7 348 ,

6 276 ,

236

784

TESTING & COUNSELLING

PARTNER INTERVIEW HEALTHIER FUTURES

How do the community ARV deliveries help?

Has Egmont's support changed your approach?

How do you see your project developing?

How do you address the issue of denial and stigma?

Safer Communities

PARTNER HIGHLIGHTS

PORTFOLIO RESULTS

11 952 ,

1 200 ,

33

VIOLENCE AGAINST WOMEN

PARTNER HIGHLIGHT SAFER COMMUNITIES

FINANCIAL REVIEW

Income

Expenditure

Reserves Policy

Reserves Held

Foreign Exchange Policy

Investment Policy

Risk Management

Conflicts of interest

STRUCTURE, GOVERNANCE & MANAGEMENT

Governing Document

Trustee induction

Egmont’s Staff Team

Trustee led sub-committees

Appointment of Trustees

STATEMENT OF PUBLIC BENEFIT

AUDITED FINANCIAL STATEMENTS FOR THE PERIOD 19 NOVEMBER 2020 TO 31 DECEMBER 2021

Reference and Administrative Details

Statement of Trustee Responsibilities

Independent Auditors’ Report to the Trustees of The Egmont Trust

Opinion

In our opinion the financial statements:

Basis for opinion