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||||Page|
|---|---|---|---|
|Charity Reference and|Administrative|Details||
|Trustees'
Annual
Report|||3-7|
|Independent
Auditor's|Report||8-10|
|Statement
of Financial|Activities|||
|Balance Sheet|||12|
|Statement ofCash Flows|||13|
|Notes to the Financial|Statements||14-23|
##
|Charity registration|number|1188260||||
|---|---|---|---|---|---|
|Trustees||Dr Desire Collen||||
|||Dr Kevin Burnard||||
|||Dr Daghni Rajasingam||||
|||Mr Andrew
Edge|(appointed||08/03/2023)|
|||Mr Chris Buyse (resigned||14/06/2022)||
|||Ms Rose Grey (resigned||28/07/2022)||
|Chief executive officer||Mr Chris Buyse||||
|Registered office||Flat 33||||
|||Swan Court||||
|||Chelsea Manor Street||||
|||London||||
|||SW3 5RX||||
|Auditor||Redford
&Co Limited||||
|||Chartered
Accountants||||
|||1u Floor||||
|||64 Baker Street||||
|||London||||
|||W1U 7GB||||
|Bankers||Trlodos Bank||||
|||Deanery Road||||
|||Bristol||||
|||BS15AS||||
|||ABN AMRO Bank NV||||
|||Borsbeekseburg|30|||
|||2600 Antwerpen-Berchem||||
|||Belgium||||
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|||||P/e 31/12/22|P/e 31/12/22|Y/e 31/03/22|
|---|---|---|---|---|---|---|
|||||Unfestnoted
funds|Totslfunds|Total funds|
||||Note||||
|Income and endowments||from:|||||
|Donations
and legacies||||0|0|14,931,867|
|Investment
income||||1,028,704|1,028,704|14,974,290|
|Total income and endowments||||1,028,704|1,028,704|29,906,157|
|Expenditure
on:|||||||
|Charitable
activities||||(180,199)|(180,199)|(173,739)|
|Investment
manager|fees|||(55,452)|(55,452)|(36,289)|
|Other||||114,932|114,932|(338,520)|
|Total expenditure||||(120,719)|(120,719)|(548,548)|
|Net gains
/ (losses)|on||||||
|investments|||11|(1,615,766)|(1,615,766)|464,073|
|Net income
/ (expenditure)||and|||||
|movement
in funds|||13|(707,781)|(707,781)|29,821,682|
|Reconciliation
offunds:|||||||
|Total funds brought|forward|||49,134,144|49,134,144|19,312,462|
|Total funds carried|forward||13|48,426,363|48,426,363|49,134,144|
##
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|Period Ended 3|1|Decem|ber 2022||||
|---|---|---|---|---|---|---|
||||||31December|31 March|
||||||2022|2022|
|||||Note|6|6|
|Fixed assets|||||||
|Investments||||11|44,566,582|43,052,652|
||||||44,566,582|43,052,652|
|Current assets|||||||
|Cash at bank and|in|hand|||3,905,017|6,126,798|
||||||3,905,017|6,126,798|
|Creditors: amounts||falling|due within one year|12|(45,236)|(45,306)|
|Net current assets|||||3,859,781|6,081,492|
|Total assets less|current||liabilities||48,426,363|49,134,144|
|Net assets|||||48,426,363|49,134,144|
|Charity Funds|||||||
|Unrestricted
funds||||13|48,426,363|49,134,144|
|Total charity funds|||||48,426,363|49,134,144|
##
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|Period Ended 31 Decem|b|er|2022||||
|---|---|---|---|---|---|---|
||||||P/e|Y/e|
||||||31/12/22|31/03/22|
|||||Note|6||
|Cash flow from operating|activities|||15|(120,789)|(437,176)|
|Net cash flow from operating|||activities||(120,789)|(437,176)|
|Cash flow from investing|activities||||||
|Net payments
to acquire investments
Interest received|||||(3,129,696)
4,399|(9,555,659)
693|
|Capital gains distribution|||||3,424|0|
|Dividends
received|||||1,020,881|14,973,597|
|Net cash flow from investing|||activities||(2,100,992)|5,418,631|
|Net increase I(decrease)|in|cash and cash equivalents|||(2,221,781)|4,981,455|
|Cash and cash equivalents||at|1 April 2022||6,126,798|1,145,343|
|Cash and cash equivalents||at|31 December 2022||3,905,017|6,126,798|
|Cash and cash equivalents||consist of:|||||
|Cash at bank and
in hand|||||3,905,017|6,126,798|
|Cash and cash equivalents||at|31 December 2022|15A|3,905,017|6,126,?98|
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|3|Investment
Income|Investment
Income|Investment
Income||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||P/e|Y/e|
||||||||||31/12/22|31/03/22|
||||||||||E|E|
||Dividend|income|||||||1,020,881|14,973,597|
||Capital gains distribution||||||||3,424|0|
||Interest received||||||||4,399|693|
||||||||||1,028,704|14,974,290|
|4|Analysis|ofexpenditure||on charitable|||activities||||
||Charitable|activities|||||||Grant|Total|
||||||||||funding of||
||||||||||activities||
||||||||||P/e|Y/e|
||||||||||31/12/22|31/03/22|
||||||||||8|E|
||Cocoa for Schools||- Tanzania||||||49,327|35,156|
||Fundacion Teiedores de|||Suenos —Costa|||Rica||37,880|129,914|
||International
Red Cross —Ukraine||||||||50,000||
||Actec VZW Juanfe||- Columbia||||||42,992||
||Ekoli - Belgium|||||||||8,669|
||||||||||180,199|173,739|
||All ofthe|above costs were attributable||||to|unrestricted|funds.|||
|5|Governance costs||||||||||
||||||||||P/e|Y/e|
||||||||||31/12/22|31/03/22|
||||||||||F|E|
||Auditor's|remuneration|||||||24,000|27,240|
||Trustees|expenses|—board meetings||||||0|175|
||Legal, professional||and consultancy||fees||||33,340|7,449|
||||||||||57,340|34,864|
##
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|Analysis o|fgrants||||
|---|---|---|---|---|
|Grant anal|sis —P/e 31/12/2022|Grants to|Grants to|Total|
|||institutions|individuals||
|||E|F||
|Cocoa for Schools - Tanzania||49,327||49,327|
|Fundacion|Tejedores de Suenos —Costa Rica|8,328|29,552|37,880|
|International|Red Cross —Ukraine|50,000||50,000|
|Actec VZW|Juanfe —Columbia|42,992||42,992|
|||150,647|29,552|180,199|
|Grant anal|sis —Y/e 31/03/2022|Grants to|Grants to|Total|
|||institutions|individuals||
|||F|||
|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|
##
|||||P/e|Y/e|
|---|---|---|---|---|---|
|||||31/12/22|31/03/22|
|||||E|F|
|Impairment|/ (reversal of impairment)|of investment|in Fund+ NV/SA|(705,519)|2,179,293|
|Net (gains)|/ losses on foreign exchange|||(191,006)|301,304|
|(Profit) / loss on fair value movement||and sale of listed investments||2,321,285|(2,643,366)|
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|Fixed asset investments||||
|---|---|---|---|
||Listed|Other|Total|
||investments|investments||
|||6||
|Cost or valuation||||
|At 1 April 2022|12,199,025|33,032,920|45,231,945|
|Net additions|3,129,696|0|3,129,696|
|Revaluation|(2,321,285)|0|(2,321,285)|
|At 31 December 2022|13,007,436|33,032,920|46,040,356|
|Impairment||||
|At 1 April 2022|0|2,179,293|2,179,293|
|Reversal|0|(705,519)|(705,519)|
|At 31 December 2022|0|1,473,774|1,473,774|
|Carrying
amount:||||
|At 31 December 2022|13,007,436|31,559,146|44,566,582|
|Carrying
amount:||||
|At 31 March 2022|12,199,025|30,853,627|43,052,652|
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|Creditors: a|m|ounts|falling d|ue within one|year||||
|---|---|---|---|---|---|---|---|---|
||||||||31/12/2022|31/03/2022|
|||||||||6|
|Accruals and||deferred|income||||45,236|45,306|
||||||||45,236|45,306|
|Fund reconciliation|||||||||
|Unrestricted|funds at||31/12/2022||||||
|||Balance at||Income|Expenditure|Transfers|Gains
/|Balance at|
|||01/04/22|||||(losses)|31/12/22|
||||||||6||
|Unrestricted|-|48,692,903||1,026,704|(273,845)|(399,078)|(1,411,725)|47,636,959|
|general|||||||||
|~Di
t dr|||||||||
|Fundacion
Tejedores||441,241||0|(37,880)|0|(13,035)|390,326|
|de Suenos|||||||||
|—Costa|||||||||
|Rica|||||||||
|Actec VZW
Juanfe-|||||0|399,078|0|399,078|
|Columbia|||||||||
|||49,134,144||1,028,704|(311,725)|0|(1,424,760)|48,426,363|
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|||Balance at|Income|Expenditure|Gains|/|Balance at|
|---|---|---|---|---|---|---|---|
|||01/04/21|||(losses)||31/03/22|
|||F|||E||F|
|Unrestricted-||18,741,307|29,906,157|(117,330)|162,769||48,692,903|
|general||||||||
|~Di|td|||||||
|Fundacion||571,155|0|(129,914)|||441,241|
|Tejedores de||||||||
|Suenos|—Costa|||||||
|Rica||||||||
|||19,312,462|29,906,157|(247,244)|162,769||49,134,144|
##
|Analysis of net assets between|Analysis of net assets between|funds|||
|---|---|---|---|---|
|At 31/12/2022||Unrestricted|Designated||
|||funds|funds|Total|
|||E|E|F|
|Fixed assets||44,566,582|0|44,566,582|
|Cash||3,115,613|789,404|3,905,017|
|Current|liabilities|(45,236)|0|(45,236)|
|Total||47,636,959|789,404|48,426,363|
|At 31/03/2022||Unrestricted|Designated||
|||funds|funds|Total|
|||E|E|E|
|Fixed assets||43,052,652|0|43,052,652|
|Cash||5,685,557|441,241|6,126,798|
|Current|liabilities|(45,306)|0|(45,306)|
|Total||48,692,903|441,241|49,134,144|
##
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|||||P/e 31/12/22|Y/e 31/03/22|
|---|---|---|---|---|---|
||||||5|
|Net income
/ (expenditure)||for the period||(707,781)|29,821,682|
|Dividends|received|||(1,020,881)|(14,973,597)|
|Capital gains distribution||||(3,424)|0|
|interest receivable||||(4,399)|(693)|
|(Gains)
/|losses on investments|||1,615,766|(464,073)|
|Increase|/ (decrease)
in creditors|||(70)|(14,820,495)|
|Net cash|flow from operating||activities|(120,789)|(437,176)|
##
|Analysis ofchanges|in cash and cash equi|valents|||
|---|---|---|---|---|
||01/04/22|Cash flows|Foreign|31/12/22|
||||exchange||
||||movements||
||||6||
|Cash and cash|6,126,798|(2,412,787)|191,006|3,905,017|
|equivalents|||||
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|Financial
instruments||||||||||
|---|---|---|---|---|---|---|---|---|---|
|The carrying
amounts|ofthe charity's|||financial||instruments|are as follows:|||
|||||||||31/12/22|31/03/22
f|
|Financial assets||||||||||
|Measured
at fair value|through|income:||||||||
|- Fixed assets - listed|investments||(note||11)|||13,007,436|12,199,025|
|-Cash at bank||||||||3,905,017|6,126,798|
|||||||||16,912,453|18,325,823|
|Other assets measured|at cost|I|valuation||less|impairment:||||
|- Fixed assets -other investments|||(note||11)|||31,559,146|30,853,627|
|||||||||48,471,599|49,179,450|
|Finsncia/
liabilities||||||||||
|Measured
at amortised cost||||||||||
|-Creditors (note 12)||||||||45,236|45,306|
|||||||||45236|45,306|
|summari|sed
as follows:||||||
|---|---|---|---|---|---|---|
||||||P/e|Y/e|
||||||31/12/22|31/03/22|
||||||F|6|
|Income|and expense||||||
|Financial|assets measured|at fair value|through|net income|(2,130,279)|2,519,169|
|Financial|liabilities measured|at fair value through||net income|0|(177,107)|
|Financial|assets measured|at amortised|cost/impairment||705,519|(2,179,293)|
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