COMPANY REGISTRATION NUMBER: 12767132 CHARITY REGISTRATION NUMBER: 1190870
Sophia Point Rainforest Project Company Limited by Guarantee Unaudited Financial Statements
31 July 2023
HIGGINS FAIRBAIRN & CO
Chartered accountants 4th Floor
58-59 Great Marlborough Street London W1F 7JY
Sophia Point Rainforest Project
Company Limited by Guarantee
Financial Statements
Year ended 31 July 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 16 |
| Notes to the detailed statement of financial activities | 17 |
Sophia Point Rainforest Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 July 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2023.
Reference and administrative details
Registered charity name Sophia Point Rainforest Project Charity registration number 1190870 Company registration number 12767132 Principal office and registered Sandison Lang office St. Marys Road Tonbridge TN9 2LB England The trustees Prof John Frederick William Birney Kathryn Critchley Nicola Green Jon Poledri Richard Rogers Robin Stott Independent examiner Mr Fenton W Higgins 30 July 2024 4th Floor 58-59 Great Marlborough Street London W1F 7JY
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Sophia Point Rainforest Project
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Sophia Point Rainforest Project
Year ended 31 July 2023
Structure, Governance and Management
Governance
Sophia Point is a charitable company limited by guarantee, incorporated on 24th July 2020 and registered as a charity on 14th August 2020. The company was established under a Memorandum of Association and is governed under its Articles of Association which establish the objectives and powers of the charitable company. All members of the board of directors/trustees give their time voluntarily and received no benefits from the charity.
Organisational Structure
The board of Sophia Point is composed of six (6) people who meet quarterly and are responsible for the strategic direction and policy of the charity. The board serves as trustees for the purposes of charity law and as directors for the purposes of company law. There is a broad range of skills represented on the board and these are reviewed annually to account for any retirements or needs which are not met by the current structure. Board members are appointed to staggered tenures to allow for a future phased process of revolving retirement of directors. The Secretary also attends board meetings but does not have voting rights. Relevant guests may be invited as non-voting observers to the board meetings. The day-to-day operation of the charity is carried out by the Centre Director.
Trustee Induction
New trustees are inducted into the organisation through meetings with existing trustees and the Centre Director and are provided with information on the foundation and vision of the organisation.
Objectives and Activities
The mission of the Sophia Point Rainforest Research Centre ("Sophia Point") is to enable and support research into and conservation of Guyana's unique tropical rainforest. Sophia Point will conserve an area of pristine rainforest and drive forward vital research in an unexplored corner of the world.
Our aims, as set out in the Objectives within the Articles of Association, are to achieve two overarching goals:
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To promote, for the benefit of the public, the conservation, protection and improvement of the physical and natural environment by promoting biodiversity in the rainforest and waters of Guyana.
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To advance the education of the public both in Guyana and globally in the conservation, protection, and improvement of the physical and natural environment.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Sophia Point Rainforest Project
Year ended 31 July 2023
Strategic Report
The following sections of achievements, performance and financial review form the Strategic Report of the charity.
Design and Development of Research and Education Centre
Over the reported period, the consultation and design of the main facilities at Sophia Point has been at the core of our efforts. After a period of extensive stakeholder consultation, information gathering, design iteration, visiting other tropical rainforest research centres, we were able to deliver a definitive version that best meets the needs of the charity’s beneficiaries. This detailed design, development, consultation and site preparation phase is paving the way for the construction phase of the Sophia Point Rainforest Research Centre being delivered on time and budget.
Working alongside Guyanese structural engineers, the designs for the Centre were signed off by the board of trustees in Q1 2023. The completed design will have the capacity to host 28 students at a time, providing them with sleeping accommodation, wet and dry lab facilities, classrooms, kitchen and dining areas, washing and sanitation, all required to support field trips.
Running on solar power, rain-harvested water and using locally available and durable materials, the centre has been designed to minimize environmental impact and to remain low maintenance. The facilities will provide a local and national centre to convene people, train the next generation of Guyanese scientists and environmental leaders, build Guyana's capacity for education and research, and to collaborate on the use of scientific information to contribute to the conservation of Guyana’s unique biodiversity. The final design will deliver a space that can remain versatile for local and overseas users whilst studying Guyana’s unique rainforest.
Following the completion of the designs, we invited several contractors to visit the site and bid on the contract. This competitive tender process looked to identify the most suitable delivery partner and an assessment criterion to equitably assess all bidders. The contract was awarded to a Guyanese firm, based on their exceptional track record of completing challenging projects, commitment to the employment of the local labour force from the neighbouring Amerindian community, and sound environmental and sustainable approaches to their work.
Community Engagement
Sophia Point recognizes the Indigenous community's importance in the conservation and management of Guyana’s important ecosystems. They have been stewards of the natural environment for generations, helping to ensure forest loss remains very low by protecting and working with their environment over thousands of years.
Sophia Point has initiated work to strengthen the relationship with the neighbouring River’s View Amerindian Indigenous community, through engaging with the Community Leader, Toshao, and the village council at community meetings. We have been presenting plans for the Research Centre to them as well as inviting village leaders to consultation meetings.
Stakeholder Engagement
Embedding Sophia Point in the local context, building a network of engaged stakeholders, and ensuring that the charity is responsive to local dynamics wherever possible is key to the operating model of Sophia Point. Actions include adding Guyanese trustees to the board, meeting with local and Indigenous communities, Conservation Non-Governmental Organisations and regional and national politicians.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Sophia Point Rainforest Project
Year ended 31 July 2023
These outreach activities were part of a significant drive to share plans and visions for Sophia Point, take on feedback, work towards future partnerships, and raise the importance of continued conservation and education work.
Champion of the Rainforest
As part of local outreach and education work, Sophia Point’s Education Outreach Officer developed key relationships and activities with local schools.
A 6-week environmental education course was established providing a curriculum of learning materials for primary level students to explore topics related to the rainforest. The course, entitled “Champion of the Rainforest” was developed for both UK and Guyanese school groups with the materials delivered to over 400 students in a first pilot phase. This framework included a letter exchange between students in schools in the UK and Guyana, presenting an opportunity for cross-cultural peer learning on issues raised in the course materials.
Scientific Research on the Site
Whilst the principal work has focused on developing the site for construction and designing the Sophia Point Centre facilities, we have continued to welcome researchers to Sophia Point.
Academics on site have ranged from undergraduate and final year Guyanese students, volunteers, and overseas PhD students. Activities have included repeat transect assessments of entomological biodiversity, baseline assessments of herpetofauna, using Sophia Point as a control site for comparative Avi-fauna studies, first-ever freshwater carbon analysis of the Essequibo River in a multi-site PhD study, hosting academics in rest and data collation periods mid-field work as well as several one-off and introductory research visits.
Supporting research on site has required the development of protocols around visitor safety, logistics for hosting and resourcing visits as well as working with local staff to act as guides, boat drivers, and research assistants. Where possible, these interactions have sought to develop new skill sets in an area with almost no prior history of research. This will be an important area for development as Sophia Point’s equitable training, intellectual property sharing, and fair recognition protocols evolve for supporting research on site.
World Weather Network
Sophia Point’s work aims to ultimately encompass activities beyond the natural sciences, in order to enhance communication of the urgent story of Guyana’s rainforest. As a first step Sophia Point engaged in an international collaboration of multi-disciplinary institutions, the World Weather Network, which aims to use multi-disciplinary activities to represent the pressures faced globally by an under-pressure climate system. This provides a valuable demonstration of potential future projects.
Communications and Awareness
The team continues to develop communications platforms and messaging to raise awareness of the rainforest and the mission behind the Sophia Point charity. Growth was seen across social media and a monthly newsletter with audiences increasing to over 500 regular monthly followers. Communications materials spanned project updates, wildlife camera trapping, education posts and awareness raising about both the importance and at-risk reality of nature in tropical rainforests.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Sophia Point Rainforest Project
Year ended 31 July 2023
Priority Future Work Areas
The achievement and performance of this financial year represent our first steps to realizing our mission to transform research and conservation of Guyana's unique tropical rainforest.
Our priority for the coming years is to achieve this through transforming access to education, convening innovative and equitable science, and championing the rainforest and Indigenous communities.
Transform Access to Education.
Sophia Point will run as a low-cost, accessible research and education centre, facilitating Guyanese students to visit and study there; Sophia Point will aim to open-up the wonders of nature and encourage students to be the voices of future conservation. To do this, we will build, equip, and run the Sophia Point Rainforest Research Centre, integrate the Centre into the University curriculum and promote environmental education classes.
Convene Innovative, Equitable Science.
Guyana offers a window into one of the last intact environments, potentially providing the key to new species, solutions, medicines, and management practices. Working with local communities and Guyanese conservation and natural resource management stakeholders to bring science driven by local, indigenous voices is key to Sophia Point’s mission to help conserve and understand Guyana’s natural resources. To do this, we aim to develop a model for equitable global partnerships and develop nature partnerships both locally and nationally.
Champion the Rainforest and Indigenous Amerindian People
As oil booms in Guyana and the global focus is on the Amazon and Congo rainforests, Sophia Point will be a local and international champion for Guyana’s incredible rainforest, and the Indigenous Amerindian Community. Sophia Point aims to integrate Indigenous Peoples' knowledge systems in developing solutions to the climate crisis and achieving climate justice, contributing to communicating the story of Guyana through the platform of Sophia Point and focusing on the overlap between science and indigenous culture.
Financial Review
Positive efforts to raise funding for the delivery of the centre and secure the operational future of the centre continued, raising £133,142 from philanthropists and grant funds. Expenses totalled £100,557 leaving Net Income of £35,559.
The Trustees' Annual Report and The Strategic Report were approved on 5 August 2024 and signed on behalf of the Board of Trustees by:
Nicola Green Chair of Trustees
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Sophia Point Rainforest Project
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Sophia Point Rainforest Project
Year ended 31 July 2023
I report to the trustees on my examination of the financial statements of Sophia Point Rainforest Project ('the charity') for the year ended 31 July 2023.
Responsibilities and basis of report
As the Trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act').
I report in respect of my examination of the charity accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the charity as required by section 130 of the Act; or
(2) the accounts do not accord with those records; or
(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.
Mr Fenton W Higgins 31 July 2024 Independent Examiner
4th Floor 58-59 Great Marlborough Street London W1F 7JY
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Sophia Point Rainforest Project
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 July 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 5 | 133,142 | 434,023 |
| Investment income | 6 | 1,128 | 50 |
| Other income | 7 | 1,846 | – |
| -------------------------------- | -------------------------------- | ||
| Total income | 136,116 | 434,073 | |
| ================================ | ================================ | ||
| Expenditure | |||
| Expenditure on charitable activities | 8 | ||
| , | |||
| 9 | 100,557 | 78,017 | |
| Taxation | – | 10 | |
| -------------------------------- | -------------------------------- | ||
| Total expenditure | 100,557 | 78,027 | |
| ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 35,559 | 356,046 | |
| ================================ | ================================ | ||
| Reconciliation of funds | |||
| Total funds brought forward | 594,772 | 238,726 | |
| -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 630,331 ================================ |
594,772 ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 15 form part of these financial statements.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Statement of Financial Position
31 July 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible fixed assets | 14 | 155,512 | 2,036 | ||
| Current assets | |||||
| Cash at bank and in hand | 480,819 | 595,746 | |||
| Creditors: amounts falling due within one year 15 | 6,000 | 3,010 | |||
| -------------------------------- | -------------------------------- | ||||
| Net current assets | 474,819 | 592,736 | |||
| -------------------------------- | -------------------------------- | ||||
| Total assets less current liabilities | 630,331 | 594,772 | |||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 630,331 | 594,772 | |||
| ================================ | ================================ | ||||
| Funds of the charity | |||||
| Unrestricted funds | 630,331 | 594,772 | |||
| -------------------------------- | -------------------------------- | ||||
| Total charity funds | 16 | 630,331 | 594,772 | ||
| ================================ | ================================ |
For the year ending 31 July 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 31 July 2024, and are signed on behalf of the board by:
Nicola Green Trustee
The notes on pages 9 to 15 form part of these financial statements.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2023
1.General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Sandison Lang, St. Marys Road, Tonbridge, TN9 2LB, England.
2.Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3.Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
3.Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
· income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
3.Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture and fittings 20% straight line -
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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Sophia Point Rainforest Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
3.Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
4.Limited by guarantee
The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £60.
5.Donations and legacies
| Total Funds | Total Funds | |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donations | ||
| Donations | 133,142 | 434,023 |
| 6. Investment income | ||
| Total Funds | Total Funds | |
| 2023 | 2022 | |
| £ | £ | |
| Bank interest receivable | 1,128 | 50 |
| ======================= | ============== |
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Sophia Point Rainforest Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
| 7. Other income | |||
|---|---|---|---|
| Total Funds | Total Funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other income | 1,846 | – | |
| ======================= | ============== | ||
| 8. Expenditure on charitable activities by fund type | |||
| Total Funds | Total Funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Support costs | 100,557 | 78,017 | |
| 9. Expenditure on charitable activities by activity type | |||
| Support | Total funds | Total fund | |
| costs | 2023 | 2022 | |
| £ | £ | £ | |
| 100,557 | 100,557 | 78,017 | |
| ================================ | ================================ | ============================ | |
| 10. Net income | |||
| Net income is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 509 | 509 | |
| Loss on disposal of heritage assets | 1,488 | 861 | |
| Operating lease rentals | 15,056 | 20,632 | |
| ============================ | ============================ | ||
| 11. Independent examination fees | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 6,000 | 3,000 | |
| ======================= | ======================= |
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Sophia Point Rainforest Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 49,188 | 36,526 |
| Other employee benefits | 54 | 24 |
| ---------------------------- | ---------------------------- | |
| 49,242 ============================ |
36,550 ============================ |
The average head count of employees during the year was 1 (2022: 2). The average number of full-time equivalent employees during the year is analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Number of staff | 1 | 2 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Tangible fixed assets
| Land and | Fixtures and | ||
|---|---|---|---|
| buildings | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 August 2022 | – | 2,545 | 2,545 |
| Additions | 153,985 | – | 153,985 |
| -------------------------------- | ----------------------- | -------------------------------- | |
| At 31 July 2023 | 153,985 | 2,545 | 156,530 |
| ================================ | ======================= | ================================ | |
| Depreciation | |||
| At 1 August 2022 | – | 509 | 509 |
| Charge for the year | – | 509 | 509 |
| -------------------------------- | ----------------------- | -------------------------------- | |
| At 31 July 2023 | – | 1,018 | 1,018 |
| ================================ | ======================= | ================================ | |
| Carrying amount | |||
| At 31 July 2023 | 153,985 | 1,527 | 155,512 |
| ================================ | ======================= | ================================ | |
| At 31 July 2022 | – ================================ |
2,036 ======================= |
2,036 ================================ |
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Sophia Point Rainforest Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 July 2023
15. Creditors: amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 6,000 | 3,000 |
| Corporation tax | – | 10 |
| ----------------------- | ----------------------- | |
| 6,000 ======================= |
3,010 ======================= |
16. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Current assets | 636,331 | 636,331 |
| Creditors less than 1 year | (6,000) | (6,000) |
| -------------------------------- | -------------------------------- | |
| Net assets | 630,331 | 630,331 |
| ================================ | ================================ | |
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Current assets | 597,782 | 597,782 |
| Creditors less than 1 year | (3,010) | (3,010) |
| -------------------------------- | -------------------------------- | |
| Net assets | 594,772 | 594,772 |
| ================================ | ================================ |
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