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||||Page|
|---|---|---|---|
|Charity Reference and|Administrative|Details||
|Trustees'
Annual
Report|||3-8|
|Independent
Auditor's|Report||9-11|
|Statement
of Financial|Activities||12|
|Balance Sheet|||13|
|Statement
of Cash Flows|||14|
|Notes to the Financial|Statements||15-23|
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|Trustees||Dr Desire Collen||||||
|---|---|---|---|---|---|---|---|
|||Dr Kevin Burnard||||||
|||Mr Chris Buyse (resigned|||14/06/2022)|||
|||Ms Rose Grey (appointed|||21/10/2021, resigned||28/07/2022)|
|||Dr Daghni
Rajasingam||(appointed||26/11/2021)||
|Chief executive officer||Mr Chris Buyse||||||
|Registered|office|Flat 33||||||
|||Swan Court||||||
|||Chelsea Manor Street||||||
|||London||||||
|||SW3 5RX||||||
|Auditor||Redford
& Co Limited||||||
|||Chartered
Accountants||||||
|||1"Floor||||||
|||64 Baker Street||||||
|||London||||||
|||W1U 7GB||||||
|Bankers||Triodos Bank||||||
|||Deanery
Road||||||
|||Bnstoi||||||
|||BS1 5AS||||||
|||ABN AMRO Bank NV||||||
|||Borsbeekseburg|30|||||
|||2600 Antwerpen-Berchem||||||
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||||2022|2022|2021|
|---|---|---|---|---|---|
||||Unrastnctsd
funds|Total funds|Total funds|
|||Nots||||
|Income and endowments|from:|||||
|Donations
and legacies|||14,931,867|14,931,867|17,493,038|
|Investment
income|||14,974,290|14,974,290||
|Total income and endowments|||29,906,157|29,906,157|17,493,038|
|Expenditure
on:||||||
|Charitable
activities|||(173,739)|(173,739)|(143,731)|
|Investment
manager fees|||(36,289)|(36,289)||
|Other|||(338,520)|(338,520)|723,052|
|Total expenditure|||(548,548)|(548,548)|579,321|
|Net gains on investments|||464,073|464,073|1,240,103|
|Net income and movement|in|||||
|funds||13|29,821,682|29,821,682|19,312,462|
|Reconciliation
offunds:||||||
|Total funds brought
forward|||19,312,462|19,312,462||
|Total funds carried forward||13|49,134,144|49,134,144|19,312,462|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||4cme|E|E|
|Fixed assets|||||||
|Investments||||11|43.052.652|33.032,920|
||||||43.052 652|33.032.920|
|Current assets|||||||
|Cash at bank|and in|hand|||6 126.798|1 145.343|
||||||6.126.798|1 145„343|
|Creditors: amounts||falling|due within one year|12|{45.306)|{14.885.801)|
|Net current|assets/{liabilities)||||6,081.492|{13720,458)|
|Total assets|less current||liabilities|||19,312,462|
|||||||19.312.462|
|Charity Funds|||||||
|Unrestricted|funds|||13|49 134.144|19,312„462|
|Total charity|funds||||49.134,144|19,312.462|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Note|E|6|
|Cash flow from operating|activities|||15|(437,176)|1,145,343|
|Net cash flow from operating|||activities||(437,176)|1,145,343|
|Cash flow from investing|activities||||||
|Payments
to acquire investments|||||(9,555,659)||
|Interest received|||||693||
|Dividends
received|||||14,973,597||
|Net cash flow from investing||activities|||5,418,631||
|Net increase
in cash and cash|||equivalents||4,981,455|1,145,343|
|Cash and cash equivalents||at|1 April 2021||1,145,343||
|Cash and cash equivalents||at|31 March 2022||6,126,798|1,145,343|
|Cash and cash equivalents||consists of:|||||
|Cash at bank and
in hand|||||6,126,798|1,145,343|
|Cash and cash equivalents||at|31 March 2022|15A|6,126,798|1,145,343|
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|4|Analysis ofexpenditure|Analysis ofexpenditure|on charitable|on charitable|activities|activities||||
|---|---|---|---|---|---|---|---|---|---|
||Chantable
activities||||||Grant funding||Total|
||||||||of|activities||
|||||||||2022|2021|
||Cocoa for Schools -|Tanzania||||||35,156|134,550|
||Fundacion
Tejedores|de|Suenos|—Costa Rica||||129,914|9,181|
||Ekoli - Belgium|||||||8,669||
|||||||||173,739|143,731|
|All|ofthe above costs were attnbutable|||to unrestricted||funds.||||
|5|Governance costs|||||||||
|||||||||2022|2021|
|||||||||6|F|
||Auditor's
remuneration|||||||27,240|15,000|
||Trustees expenses —board meetings|||||||175|0|
||Legal &professional|fees||||||7,449|0|
|||||||||34,864|15,000|
|8|Analysis ofgrants|||||||||
||Grant analysis 2022||||||Grants to|Grants to|Total|
||||||||institutions|indwiduals||
||Cocoa for Schools - Tanzania||||||35,156||35,156|
||Fundacion
Tejedores|de Suenos||—Costa Rica|||94,619|35,295|129,914|
||Ekoli - Belgium||||||8,669||8,669|
||||||||138,444|35,295|173,739|
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|Grant analysis 2021|Grant analysis 2021|Grant analysis 2021|||Grants to|Grants to|Total|
|---|---|---|---|---|---|---|---|
||||||institutions|individuals||
|Cocoa for|schools|- Tanzania|||134,550||134,550|
|Fundacion|Tejedores de||Suenos —Costa Rica|||9,181|9,181|
||||||134,550|9,181|143,731|
|Net income|for the|year||||||
|Net income|is stated|after|charging
/ (crediting):|||||
|||||||2022|2021|
|||||||6|6|
|Impairment|of investment||in|Fund+ NV/SA||2,179,293|2,416,411|
|Net (gains)/losses||on foreign||exchange||301,304|(738,457)|
|Profit on fair value||movement||of listed investments||(2,643,366)|(3,656,514)|
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|ixed asset investments||||
|---|---|---|---|
||Listed|Other|Total|
||investments|investments||
||f|f||
|Cost or valuation||||
|At 1 Apnl 2021|8,213,917|24,819,003|33,032,920|
|Additions|9,555,659|0|9,555,659|
|Transfers|(8,213,917)|8,213,917|0|
|Revaluation|2,643,366|0|2,643,366|
|At 31 March 2022|12,199,025|33,032,920|45,231,945|
|Impairment||||
|At 1 April 2021
Reduction
in valuation|0
0|2,416,111
2,179,293|2,416,111
2,179,293|
|Written back|0|(2,416,111)|(2,416,411)|
|At 31 March 2022|0|2,179,293|2,179,293|
|Carrying
amount:||||
|At 31 March 2022|12,199,025|30,853,627|43,052,652|
|Carry amount;||||
|At 31 March 2021|8,213,917|24,819,003|33,032,920|
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|||2022
f|2021f|
|---|---|---|---|
|Other creditors|||14,850,801|
|Accruals and deferred|income|45,306|15,000|
|||45,306|14,865,801|
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||Balance at|Income|Expenditure|Gains|/|Balance at|
|---|---|---|---|---|---|---|
||01/04/21|||(losses)||31/03/22|
||E|||E||E|
|Unrestricted|18,741,307|29,906,157|(117,330)|162,769||48,692,903|
|general|||||||
|DDD td|||||||
|Fundacion|571,155|0|(129,914)||0|441,241|
|Tejedores de|||||||
|Suenos —Costa|||||||
|Rica|||||||
||19,312,462|29,906,157|(247,244)|162,769||49,134,144|
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|Fixed assets|Fixed assets|
|---|---|
|Cash||
|Current|liabilities|
|Total||
|Fixed assets||
|Cash||
|Current|liabilities|
|Total||
|Unrestncted|Designated||
|---|---|---|
|funds|funds|Total|
|2022|2022|2022|
|E|E||
|43,052,652|0|43,052,652|
|5,685,557|441,241|6,126,798|
|(45,306)|0|(45,306)|
|48,692,903|441,241|49,134,144|
|Unrestncted|Designated||
|funds|funds|Total|
|2021|2021|2021|
|E|E|E|
|33,032,920|0|33,032,920|
|574,188|571,155|1,145,343|
|(14,865,801)|0|(14,865,801)|
|18,741,307|571,155|19,312,462|
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||||2022f|2021
f|
|---|---|---|---|---|
|Net income for the year|||29,821,682|19,312,462|
|Dividends
received|||(14,973,597)|0|
|Interest receivable|||(693)|0|
|Gains on investments|||(2,643,366)|(1,240,103)|
|Receipt of shares|||0|(31,792,817)|
|Increase
/ (decrease)|in creditors||(14,820,495)|14,865,801|
|Net cash flow from operating||activities|(437, 176)|1,145,343|
||01/04/21|Cash flows|Foreign|31/03/22|
|---|---|---|---|---|
||||exchange||
||||movements||
||||f.||
|Cash and cash|1,145,343|5,105,652|(124,197)|6,126,798|
|equivalents|||||
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|Financial
instruments||||||||||
|---|---|---|---|---|---|---|---|---|---|
|The carrying
amounts|of|the charity's||financial||instruments|are as follows:|||
|||||||||2022|2021|
|||||||||f:|6|
|Financial assets||||||||||
|Measured
at fair value through
income
- Fixed assets - listed investments
(note|||||11)|||12,199,025|8,213,917|
|-Cash at bank||||||||6,126,798|1,145,343|
|||||||||18,325,823|9,359,260|
|Other assets measured||at cost|Ivaluation||less impairment:|||||
|- Fixed assets - other|investments|||(note|11)|||30,853,627|24,819,003|
|||||||||49,179,450|34,178,263|
|Financial liabilities||||||||||
|Measured
at amortised||cost||||||||
|- Creditors (note 12)||||||||45,306|14,865,801|
|||||||||45,306|14,865,801|
|The income, expenses,
net gains and net losses|The income, expenses,
net gains and net losses|The income, expenses,
net gains and net losses|attributable|the charity's|financial
instruments|are|
|---|---|---|---|---|---|---|
|summarised|as follows:||||||
||||||2022|2021|
||||||6|6|
|Income and expense|||||||
|Financial|assets measured|at fair value through|net income||2,519,169|3,627,127|
|Financial|liabilities
measured|at fair value through|net income||(177,107)|767,844|
|Financial|assets measured|at amortised
cost/impairment|||(2 179 293)|(2416411)|
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