COMPANY REGISTRATION NUMBER: 12767132 CHARrrY REGISTFiATION NUMBER: 1190870 Sophia Point Rainforest Project Company Limited by Guarantee Unaudited Financial Statements 31 July 2024 IGGINS FAIRBAIRN & CO Chartered accountants 4th Floor 58-59 Great Marlborough Street London W1F 7JY Sophla Polnt Ralnforest Project Company Llmltod by Guarantse Flnanclal Statsmenls Year ended 31 July 2024 Page Directors, annual report (incorporating the directors r8POrt) Indepgndent examinerfs report to the directors ststement of financial activities (including incomg and expenditure account) 10 Statement of financlal position 11 Note5 to the financial statements 12 The followlng pages do not form part of the financlal slaternents Detailed staternent of financial activities 19 Notes to the detailed statement of financial activities 20 Sophia Point Rainforest Project Company Llmltod by Guararitse Dlrectors. Annual Rèport (Incorporatlng the Dlrectofs Roport Year ended 31 July 2024 The diTeclors, who aro also th8 directors for the PUTPO8e6 of company law, prosent thdr rgport and th9 unaudited financial slalemenls of th8 charty for the yoar ended 31 July 2024. R•f¢r•nu and admlnistrntlvo dolall• R•ght•r•d eh•rlty n•m• Sophia Point Rainfor•st Projael Ch•TIty roglstr•tlon numb•r 1190870 Company r•ghtrntlon numb•r 12787132 Prlnclp•l offlu •nd r•gknt•r•d Sandison Lang Sl. Marys Road Tonbrid9e TN9 2LB Englgnd Th• dlrnctors Simon Morgan Danigile Morfey Duncan Jarn88 Tumbull Prof John Frederlck WtHlam Birney Kalhryn CritGhley Nicola Gree Jon Poledri Robin Stirtt IApF)ointed 20 August 20241 (Appointed 4 December 2024) (Appointed 2 September 2024) (Rotlred 13 Octobgr 2024) IReUTed 1 August 20241 Ind•pendeTrt examlner Fenton W Hlgglns 10 December 2024 4th Floor SW Groal Madborough Stre81 London W1F 7JY Sophla Polnt Ralnforest Project Company Llmltsd by Guarantee Dlrnctors. Annual Report (Incorporatlng tho Dlrectorfs Report) Y•ar ended 31 July 2024 StNcturn. gov•rn•n¢e and mnagomont Goveman Sophia PoSnl is a ¢hariiable company limited by guarantee. incorporated on 241h July 2020 and reglstsred as a charity on 14th Augusl 2020. The ¢omp8ny wa8 established under a M8morandum of A55ociation and 18 govemed under Its Afucles of Association whlch eslabli5h the objeclivas and powers of the charilablg company. Al members of the Board of DirectornffrustW¥ give their time voluniarlty and receive no benefits from the charity. Orgonisational str￿lure The board of Sophia Polnl is composed ol SIX people who meet al leasl quartorfy and are rnSFrf)n$iblè for the strategic direGlion and pollcy of the charity. Those on i￿rd serve a$ truste65 for Ihe purposes of tharity law and a8 director¥ for th8 purposes of company law. There is a bro•J range of skills represented on the iwjard and thesè arè reviewed annually to account for changes In straleglc direction. addltlonal ad-hoc needs and any trustee rebrements. Board membars are appolnted lo st8gg8red t8nur8S to allow for a future proce88 of r8volvlng retirom8nt of directors in phases. The Secretary also atlends a11 bowd maotlngs bul does not havg voting rfghts. Whore relevant. guo$ts may be invited as noTrvoting ob6ervers to the board moetirwjs. The d8y-tQ-day operations of th8 charity 18 carried out by consultin9 the Centre Dlreclor. Trustee Induction All new Iru51ee$ are ind￿18d tnto the organisatlon Ihrough meetlngs with the founders aTrJ C•ntre Director and are provided infomialion on the 8Stablk%hment and WSK)n of thè charity. ObJ•ctlv•• and actlvKI•¥ The miss￿n of tho Sophia Ptjini Rainforest Research Centr• {'Sophla Polnt'l 18 to ciJnlrilMJte to the resoorch and conservation of Guyana's uniqu8 tropi¢al rainforest. Sophia Polnl oims to consorve an area of pristine rainforest and undartake vital res8arch In an unexplored corner of Ihe planet. We aim to empower Guyan￿ researchers to deliver in4epth anatysis of their ralnfoT¢St, wildllfe and climate. Our aims, as set out In Ihe obledves wlthln thg arUclg¥ of as3cKlatkin, are.. 1. To promote, for the benefit of the public. the conservation. protecllon Improvement of the physical and natural anvironmgnt by promotlng blodlversity In the ralnforesl ond waters of Guyana. 2. To advance aducation of the publlc both in Guyana globalty In the cM$ervatlDn, wotettlon and Improv•menl of tho physic41 and natur81 en￿ronMent. Stra¢egl¢ I￿0rt Thls Strateoio Report provides a lull ryJmmgnt8ry on the 8Ctivrti8s of Sophia Polnt Rainfore$l Project Lirn11gd durfng th¢ year under review. Sophla Polnt Ralnforest Project Company Llmltad by Guarantee Dlr8ctors' Annual R•port (Incorporatlng tho Dlr•cto¢s Roport) Yaar •ndad 31 Juty 2024 A¢hl•v•m•nl• and p•rfovman¢• Complglion ol the Sophia Point Rainforest Resgarch Cgntre Sophi8 Polnt's core achlevemenl In the reporllng year was Ihg compleiion of the con$lnJclion of its research and education cenlre. Thls was the culminatlon of more than four years ol WO￿ by the chority to establish the use case. establish a charrty both in the UK and Guyana, raise Ihe funding, and de8iw and deliver a first￿1-Its-klnd, acce88ible research site in th8 region. Con$tnJdion of the Sophia Point facillty progrèssed significantly from July 2023 to April 2024. marking criti￿1 phase for the project. Preparations began in Juty with consultations involving local t>)mmunilio$ lo dls¢u$$ ¢M￿0yrn¢nt ¢pportunitl•s. In August 2023, construction commenced with maleriaL8, induding steel. Ilmber, day blocks. tran8POrted vla thre818r9e barg88. Sand wa8 8¢Jurced and pumped on-site in advanco lo r8duce costs overc4)m8 loglstlcal challengès. A temporary access path mlnlmlsed environmenlal impact. while accommodations and a kilchgn w8r8 built on-sile lo hous9 thg workforc*. A cgrgmony celgbrated this milestone with communily lead8rs and stskeholders By September 2023, foundations waro lald, t8mi6t6 barrlers installed. and Internal sl88lwork for the 8truclum bogan. with a majority local wcffkforc8 grnployed by thg contractor. Oclob8r saw the pourSng of a raised concrete floor to safeguard against flooding. and Novembgr ft)Gu$od on 8$8omiqing thg dwable steel roof structure. ensuring resits'enco to tho humid rainforest climale. In December 2023, Int8mal conslwction advanced wth day block wa115 8w¥J locaffy SDurced Greenheart hardwts)d, chosen for Iheir on￿rOnmental and cooling piopertiès. January 2024 bmughl Pro9￿58 in framing interior Spaces, installing roofing panels. and Betting up a ralnwater capture $ysl¢m fe¢dlng 10,000 gallons of sloragts for oTrsite use. As completion neared in February 2024, teams worked on palnllng, woodwork, and clay block settlng. By March. the bulldlng's elect￿¢5 and solar power syslems were inslalled, ensuring self-suff￿A0ncY thoul reliance on dlesel generators. Flnal tasks Included landscaping, drainaoe. and fumi$hing the Thg prole¢t was Gompwd in Aprl 2024. certmed by an gngineer, and celebrated by Iho communty. Designed for lo&ql benefil, the facility inCl￿deS 8 365-day 68fects guarantee to address post4onslructlon Issues, reflectsng Its commltment to qU811ty and sustaIna￿lty. Th¢ ¢omrA¢t¢d Sophia Poinl Contrg hosl 32 studgnls ovgrnighl. provlding thorn wlth wel ond dry lab faciliues. classroom space, kitthgn and dining areas, and all the attendant washing and san11a￿On requirefj lo support exlended field tri￿. Tho Centre hfrlps enable acce55 to education and environmental research that, to dale. has been challenglng in the context of Guyana dug to limtt¢d siles, complex travel. and high costs for users. S￿h1O Point Inauguration and ceremony An inauguration 8v8nt wa5 held on Augu5129 2023 al the Universily ol Guyana in Goorgetown. raising awareness of the Sophio Point projecl with students, researthers, and the general public. Or Paknma Mohamed. Vlce Chancellor of th8 University hosted President lrfaan Ali in an on-stsge conversation about Ihe fulure ol conseNalion and envirorsmenlal educatlon. Over 500 were in attend8nce. induding a group of students from the villag8 adjacent lo Sophia Point, with others following a livè broadcast. This included questions from IL¥cal Students arKI was covered in every major newspaper In Guyana. Sophla Polnt Ralnfornst Project Company Llmitod by Guarantse Dlrectors. Annual Report (Incorporatlng the Dlrectorfs Report) (¢Mknu•oJ Y•ar ended 31 July 2024 ochlevlng the tgam's alm of rai8lng awaroness of the proi9cI. Pre8id8nl Ali spoke of Sophla Point as 'crltlcal proi8cf' ihal wlll support th¢ vision ha has for the country as a destination for ecTrltyJii$m and rosear¢h thal18 accessiblo to Guyanése pèoplé. On the 301h of August 2023. to mark the initiation of t￿Ilding w(vk at Sophia Point. a t8￿mOnY wa¥ osled, with guests Inc￿dIng the British High Commi33ioner. 8 Ic¢al Ameri1￿lan leader, or To$h•o, the Vlce Chan¢ellor of the unive￿Ity, the Ghatr of TNste88. and many of th¢ lttal vll*e councll and GLryanese Sophla Point truste88. This event provided an opportunity for the Amerindian Toshao. of nelghboudng Riversvl6w lo share her remarks on tho enduring value of education and Ihe wk8h Ihal Sophla Poinl becom8 a part of the ommunty experience and Intefaction for the future. Community Engag¢m¢nt and Collaboration At the coro of Sophla Poinvs operation modd is th8 alm to build indusl¥e and dlaknguo and engagement wilh tho communities surroundin9 the Centre. Thls work Is constant. and th¢ tèam had regular rnee￿n9s with villagè counculors and Ioc81 community members to further ￿lkI tho locally embedded natura of Ihe Cgntro. On 6th July 2024. wé held a c(Mnmunlty opgn doy al Sophla Polnt to celebrate tho op&nkng of the ngw re88arth Cgnlro. Local communitlgs in the surrcwnding 8fea. partlcularfy RiV8rvI￿ and Karr•J vlsllgd and explored the site. The RNerview Toshao was dosely invofved In planning the community open day with Sophia Point. The day was attended by 120 p80pl8 from the nelghboring commun￿09 who camg to find out about 110 Poinl opportunllles for leaming and davelcfmment it offers. Educ8tk)n Initi8tive$ aThJ Trainlng Core to the Sophia Point mbsknn Is the objective lo advance the education of tho publlc both in Guyana and glob81ty In the conservalion. prolecllon, and improvement of the enviror1￿nI of th8 ralnforesL During th18 reportkn9 period. Sophla Polnl ccffilinued lo host mulllple education program5, Visit rns8archors, and estab116h grounds for future collaborations. Th050 Include: Universlty Partnerships.. Suworted fleld trips for a Unlver8Ity ol Guyana Masws di$sartab'on on insect dlversity and seèsonal pattems and hoslgd o prototype field trl) for 3rd-year biology students in May. asta￿1611ng tho groundwork for regular undergradua18 ffield visits. Communlty Tralnlng.. Conductsd a flehj gulde training sesslon in July lor kxal ¢(￿M￿nity mèmbern, led ty • promlnonl Guy8n8s8 fwld vKience 0X￿rt. lo bulld ocolty3ical and safety skils. Global Erwironmenlal Education.. D8livored Ihe Champlon of the Rainforest program in the UK and Guyana. reachlng neady 400 slLMJents and promollng CLThervab'on awarenes$. Parlnershlp8 SWia Point con￿n￿o￿ efforts lo build partnerships wlth 8takehoklers in Guyana, induding: Partngrship with Piotected Areas C￿MISsion {PACI: Inltialed discussions in Septernber 2023 10 develop joint Bfforts in conservallon and environmentsl education. wth PAG expre¥$in9 stroNJ inler88t duè to Sophla Poinfs uNque that￿n. Kn(Mladge Exthanga wth SRCS.. In December 2023. Sophio Poin18 team visited the South Rupunun Sophia Polnt Rainforest Project Company Limlt•d by Guarant•0 Dlrectors. Annual Report (Incorporatlng the Dlractorfs Report) Year ended 31 Juty 2024 Con8etvallon SOC￿ to learn aboLrt thgir lon*8tanding con8orvalton and outrgach efforts with Amerindian communitie5. fostering potential lulure collaboration. Education cdIat￿ratIon. Host8d roglonal Minlstry of Edurntlon roprgsentalives In Fgbruary and July 2024 to demonstrate Sophia Point's p)lenlial as a site for student educatlon and teacher training. This inciudes developing environment81 clubs and supporting practic81 leaming for finokyaaf students. 1￿Year MOU with Cons8rvallon Int8rnallonal GLtyana= Signed in July 2024, ftThallzing collaboration to gnhance con50rval*)n edu¢•tion. research. and ¢ommunity-driven solution$ for ¢limale challèng8s. using Sophia Point as 8 hub for biodNorsity c0n50rvall¢￿ efftyts. International Partnershlp wllh Concordia: Signed In May 2024, Ic￿USIng on leveraging global netwerks lo promole biodNersity Gonservotion. 5U$tainable dpvek>pmenl, and innovative nalwfrbased solutions. Inlernallonal Engagemgnl Whllst lo¢al engagement presents the core 8cll¥Alle8 al Sophla Polnl, Inlemallonal engagement helps pr8sonl Guyana to a wld8r audienco. support intemational collaboration. and conb'nu9 th9 advoGa and essential fundraising IOT Sophia Poinf5 future. In J￿Y 2024 - Sophla Polnt hosted part of the Concordia Amazonas 2024 Summll In Guyana. Thi8 hlgh-18val strategic ￿nyaning aim5 to fory8 publtc-privalo partnerships that protect and ran£w ecosystems. With a particular focus on two th¢m6$-Environmènlal Suslain8blity and Financial Inclusion-the 2024 Amazonas Summll idgnlffigd natur041riv8n markot-led solutions that pravent I￿ever51b1O damage to ¢)ur planet. The establishment of issue-specifK working grow ensured an 8cts"orForiented approach that prioritized solutions. Sophia Point hosted an aftemoon ol engagement for the delegation, guiding a rainfore51 hikp through the Irail and hosting roundtsblè conversations within the Centre itsew. Thi$ also offered the opportunity to presenl the objectives of lh8 charity - ￿USIng on Sophia Polnl's contrlbutions to both gducatlon and conservatlon and emphaslzlng the d&8lre to bg collaboratlve In approach. Th18 occasion was marked with the shjnlng of an Mou wllh ConservatSon Interna￿onal. short vld80 was published highlighting the Irip which 1$ www.y0ulube.com￿atchfv-C22nrt8b2JV&8b channd=C¢)ncC￿l1a available here: A rgport summarizing the themes 8nd outcomes from the Concordia Summit is available h•T•.' uploads.concordi8.net120241101151549401report-2024-concordi8-8m8zonas-summlt.pdl C(￿MUniCation and awar8nessrfai5irwJ Part lo the work of Sophia Polnt Is communlcating Ihg value of the ralnfoTesl and Ihe team has conllnued to develop ComMun￿tIOnS lo raise awareness of both the rainfoiesl and Sophia Point. Positive authenc8 growth wa5 llOt8d across social medla channels as the building work was recorded and shar8d. The monthly newsletter increased its audience to over 500. Communtcalions materials covered project updates, wlldlife camera images, education posts and raiskng awareness about both th8 im￿rtance and the al-risk reality of nalurp in tropical rainfurests. Sophla Polnt Rainforest Project Company Limited by Guarant Dlroctors. Annual Roport (Incorporatlng the Dlrectorfs Report) (¢o•U Y•ar ended 31 July 2024 Flnanclal r•vlew During th8 year Sophia Polnt was ablo lo ralse £237,837 from phllanthroplsts and grant lunds which enabled th8 successful complgtion and InaugUral￿n of tho r080arch centro. Th8 oxponses lotslled £124.848 l•avln9 Net Incryné of £113.489. Sophla Polnt Rainfornst Project Company Limlted by Guarant0• Dlrectors. Annual Report (Incorporatlng the Dlrectorfs Report) Year ended 31 July 2024 Pl•M for fulurn porlodi As Sophia Point has now ¢ompleled tho establishment and ¢onslruotion phase ol (Jgvelopmenl, we aro It)oklng fornard to the next phase whlch WEII locus on aclivllies on slte and delivering on our charltable objeclSves of conserving Guyana's unlque ralnforesls and Sup￿rtIng educallon and trainiNJ. Some of the key thematlc areas of our intended future activities indu(Je: Transforming A￿?5$ to Education Sophia Po￿t oirn¥ to bewme a hub for affordable. 8¢¢e$sible gnvironmenlol edurolion. Fulure plans include: Integrating the Centre into universty curriculum$. Providing on 08sy-tWS8 field slle for lecturers and Maslerfs students lo b& able to ulilize regularly at 8 relallvely low cost. This wlll also begin a proce88 of regular data colloction on site. creating a ba8alin• of data agaln81 wh￿h to assass tho ¢onsorv*i¢)n practi￿$ and ecosystem h8aFth orb Site. Hosting rggular envlronmental education programs. Th1$ span$ acllvlties from field visbts to onvslle training and environmental education sessions for all ages and stages ol ethcalion. Running the lacility as a Iow•C051 r8soarch and education sil8 to omF￿8r Guyan8SO Studants. Promotlng Innovallve, Equltable Sdoncg The Centra will focus on 108tsring equitable rese8rch partn8rs*lp8 that prioritise local volces. ThlB indud¢$-. Creats'ng and being guid8d by global models for fair collabornlion. By acknowledglng the work done globally on Indigenous rights. using equitable research methofjologies. and emFLweriTrJ IIKJ5e from the Global South. ￿ aim to promots Guyanese résearch at Sophia Point. Building partnerships ￿1th 10¢81 an(1 national consery8tion enlilies. Continuing a trend already started to foster a network approach to conservallon - wllh sll8s connected and collaborating to be mots than (he Sum of their parts. Soptrll'a Point Is only most effective when operallng In slep vAth others. Facililaling Inlemallonal 8dentif￿ research in the ralnlore8t. Promotlng inlemallonal engagement In an oquitabl¢ and in¢lu5ive way can bring scionco and knowlodgo gxchange opportunities to Sophia Poinl as w811 as promotè tho volue and $ignifbcanc8 of Guyana as an ecological sito. We intend that these Intemalional visits be rooted In deUverin9 local value. Championing Rainfoffj$t CMservation and Indigènous KnO￿¢d9• Sophia P(￿nI seeks to amplify Guyana's rainforest conservation efforts globally by: Hlghlighting the importance of the countys eco8y8lem8. Through communicalitin ¢hannels. Soplya P¢>nt seeks to act as a plalforrn lo champion Ihe unique and under-pressure ecDsys18ms in Guyana. This will involve building the audtence and maintaining r8gular outputs that engage and Inform audlences. Inlogr81ing Indigenous kTh)wledge 8y¥lems into climate solutions. Advocaling for climale justsce and suslalnablg developmonl. Sophla Polnt Ralnforest Prohct Company Llmitgd by Guarant00 Dlr•ctors' Annual Report (Incorporatlng tho Directorfs Roport) (¢OA*thu Year ended 31 Juty 2024 Sophi8 Polnf8 work undors¢or88 115 rnissk)n to chamwon wJu¢allon and con8orv8Uon Dt Guyana's incredlble rainforests. Tho Centr& aim¥ to bacoma a beacon for research. ¢onservalh)n, and edu￿111)ft In Guyana and beyond and we look fO￿ard to conliiulng thls work moving foN8rd. The directors, annual roport and the str8lei¥c report were apkyoved on 10 D8cembw 2024 signed on behalf of the board of directors by: Nicola Green Chair 808rd of Dlrectors Sophla Polnt Ralnforest Project Company Llmltsd by Guarant•a Independent Examlnorfs Roport to the Dlrectors of Sophla Polnt Ralnforest Project Year ended 31 July 2024 I r8p(vt to the dlrectors on my examlnatlon of the financial slalements of Sophia Point Rainforest Proiect {Ih* charitll for th8 year erKled 31 July 2024. R•sponslbllltl•• •nd ba¥1* of r•port As the Trustee5 of the charity. you are r88ponsible for the P￿paratIOn of tho accounts #i accordance wllh tho roquirem¢nts of Ihe Charities A¢1 2011(Ihè A¢VI. I report In respect of my examinat￿ of the charity acC￿nIS carried ovl under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicab18 Dl1ectl￿S given by the Charily Commission under section 145{5)Ib) of th8 2011 Act. Indep•ndent •xamln•rf• statom•nt I h8V9 complated my 8xamination. I conllmi that no materfal matt8rs have come to my attantion in connection with Ihe examination giving me cause lo believe that in material respect.. <1) aCt￿nI1Thg rac0￿9 were not kept In respect of the charlty a8 requSred by sectbon 130 of the Act: or (21 the accounts do not a¢Gord wth Ihosg rgcor(13,' or (3) the accounts do not eL)mply with the appllcable requlrements conc8ming the form and content of accounts sel out in the Charities 1￿Count5 and Reports) Regulations 2008 other than requirement that the a¢¢ounl$ give a'lrue and fair vie4V which is not a matter consldemd as part of an inde￿n￿Ont exarninalion. I have no concems and have come across no other matter8 In connecllon wlth examinalion to whlch attentlon should be drawn In report In order to enable a proper understandin9 of the unls to be reached. Fenton W Higgins 10 Decgmbgr 2024 Independent Examlner 4th Floc 58-59 Groat Marfborough Slrgot London W1F7JY Sophla Polnt Ralnforest Project Company Llmlt•d by Guarants• Stat•m•nt of Financial Activltles (Includlng Incomo and expendlture account Year ended 31 July 2024 2024 Unrestrlcled funds Total fund• Tctsl fund8 2023 Income and •ndowm•nts Donallons and legacies Investrnent Income Other in¢om6 237.837 250 250 237.837 250 133.142 1.128 1.846 Total Inc¢)m• 238,337 238,337 136,116 exp•ndltur• Expenditure On charitablè actrwties Total •xp•ndltw• 124,847 124,848 124848 100,557 124.847 100,557 Net Incom• and n•t movement In lunds 113,490 111489 35,559 R•￿The1111110n of fund• Total funds brought foThM Tot•1 fund• cathed forward 630,331 743.821 630,331 743.821 $94,772 630.331 Thè statement of financial 8¢tivities i)c1￿￿eS al galns and loss88 re￿gnIsed in the year. All ffleon￿ and expenditure derfvo from continuing acll¥ltl8s. Th• nol•¥ on pagoo 12 to 17 fom) part of th•￿ Ilnan¢l•l •tst•m•nts. 10 Sophla Polnt Ralnforesl Project Company Llmtted by Guarantse Slatsm•nt of Flnanclal Posltlon 31 July 2024 2024 2023 Flx•d a8s•ts Tangible fixed 8s50ts 14 593,092 155,512 Currnnt a•••t• Cash al bank arKI in hand 167,180 480.819 Cr•dltorn: arnounts falllng du• wlthln one y•ar N•t ¢urront •$Mts 15 16A22 6.000 150,728 743,820 743.820 474,819 630.331 Total ass•ts1081 currnnt Ilabllltlei Net usot• 630,331 Fvnds of th• ¢harlty Unreslrictsd funds 743.821 630.331 630,331 Tatsl char5ty fund• 16 743.821 For the year 8ndlThJ 31 July 2024 the charity was entluad to axomption from audit under section 477 of 1h6 Companies A¢1 2006 ffjlating lo Small ¢omp•nie$. Directors. rosp)nsibilities: The membfjrs have not requlred the c4xnpany to obtain an audit of its financial statements for the year in quesllon In accordance wllh sgclion 478; dir•¢tors a¢knowlodge thoir rospon$ibililio$ ¢c*nplying with the r•quiTgments of th• A¢t th resp8ct lo acGounling rKords and th? proparauon of financlal statements. These financi81 slalemenls have been prepared in accordance with the provisions applicable lo companias subi8ct io the small companies, mgime. Those financial statements were approved by the board of dlrgcl¢)ts and aulhorlsed for issug on 10 December 2024, and are signgd on behalf of the board by.. "LAfLo 9fvLe Nicola Green Dirétttor Th• not•9 on pw•* 12 to 17 forni part of th••• flnan¢l•l *l•l•mants. 11 Sophla Polnt Rainfornst Proje Company Llmfted by Guarants• Notss to the Flnancial Statements Year endod 31 July 2024 G•n•ral Infornmtlon The chaTity is a publlc bgneffii ¢ntity and a Pflvatè company Ilmttgd by guarantee, regisl•rwJ In England arKI Wates aThJ a rgglstgrgd chafity in England and Walos. Tho address of the reglstered Offi￿ is Sandlson Lang, St. Marys Road. TonbrNlge, TN9 2LB, England. stst•m•nt of compllan Thesg financlal 8lalement$ hgvo b88n prepared wi fJ)mpllance V*ith FRS 102, FinancTral Repgrting Standard apP￿cabI0 in the UK and the Republic of Ireland,. thè Statement of R8comm&nded Practice 8pplicable to charities pr8p8rtng th8ir accounts in accordance w￿h the Financial Reporbng Standard appll¢able in the UK and Republlc of Irel8nd IFRS 1021 (Charfligs SORP {FRS 10211 and the Companies Act 2006. Accountlng pollcl•¥ B••l• of prnparntlon The financial 8telemenls have begn prepared on the hlslorical cost b8sis. as M￿JIfied by the revaluatlon of ¢ertaln flnanclal a6sets and liabilrties and investrnent propgrti¢$ rneasured al falr value Ihrough incorna or oxpendlture. Tho financlal st8tgmgnts arg prnpar*1 in s18rtlng, which is thg functional CUTrery of Ihg gntity. Golng conc•rn There are no material uncertalntles about the ¢haritys abllty to contlnue. Judg•m•nls and key 8ourc•s of ￿tIMatIOn unc•rtalnty The preparallon of the finandal slatements requlres management to make judgements. 88￿MateS and as8umptions Ihat affect th¢ amounts reported. These eslwnales 8nd judgements are conllnualty revi*wed and are based on axp8rionce and other factors. includlng expectatoons of fulure events that wo believed to be reasonable under the circumslances. For•lgn cuffencles Foreign eurr•ncy transactions arg inili8lly rec¢wded In the functionAI currency. ty applying tho spot exchangè rale as at the dale ol the tronsactoon. Monelary asseis and liabilllles donominated in foreign Currencies are translated al the exthang9 rate ruliNJ al tho reFQrtlng dalg. with ary gains or losses being tak¢n to the statement of financlal activili&5. Fund accountlng UnroslriGted funds are available for use at the discretion of thg trustees lo furth8r any of the charity's purposes. D•slgnated lunds afg ￿restricted funds earmarked by thè directors for partlcular future prolect or eommltmenl. 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 iwo 8ub-das8es: T￿n¢ted Income funds or endowm&nl funds. 12 Sophla Polnt Ralnforest Project Company Llmlt•d by Guarantee Notes to the Flnanclal Statsmonts (wnrfnu•d) Year ended 31 July 2024 A¢countlng pollclm (¢ondnu•dJ Incomlng Msour¢ l in¢oming rtssources are Induded In the statement of financial aclvilies when entillemenl has passed to the charity., it is probable that the economlc b8n8flts a$so¢laled wlth the transaction 11 flow ID ihe charity and the amount can be reliabty mea8urgd. The followiry sP￿1￿C policies are applied to partlcular categories of inGome'. income from donations or grants IS Tecognised whan Ihare is avidgn¢g 0( ontitlomont lo the gfft, receipt Is probable and its amount b8 measurgd reliably. legacy Inrthne Is recognlsed w￿n rec8lpt Is probabl6 and entlU¢menl ts establk4hed. income from donated goods is me8surgd 81 the fair value of the goods unless thi5 is Impra¢ti¢al lo measure reliably, In whlch case the value Is derlved from the cost lo the donor or Ihg esllmaled rgsale value. Donated 18cilill88 and $8Ni¢és ar8 rocognisèd in the accounts when recelved If the value can be r¢liably measurgd. No a￿Unts are induded for the contribution of general volunleors. income from contracts for the supply of servic￿ is r8cognisod with th8 d8llvery of the contracted service. This Is dasslfled as unrèstrtcled fund$ unl¢ss Iherg is o contractual requlremanl for il lo bè spent on a particu￿r purpose and r8lurn9d if unspen( in wfv.th cas8 It may b8 ragarded as restrfcted. R•sour¢es expend•d Exp8ndilure18 recogni$￿ on an accruals basis as a liability is incurred. Expenditure IndUd￿ any VAT whlch cannot be fully recovared. and Is Glassifiod undgr hoadlngs of th8 slalement of financ1￿ activltl•s lo whlch it r•latOS.' expenditure on raising funds Includes the cnsts of all fundraising actIvl￿e8, evenl8, n￿-char{tab18 trading activities, and the $ale of donoled goods. expgndllure on charitable aclvi1Ses Includes all costs Intyjrrèd by • ch#rity in undert8king tivitles that further hs charltablo aims lor the bènèfit of Its b8nefldari8s. includlng those support costs and costs r8latsng to the govomanco ol the tharity apportiongd to charitable livlttes. othor exp8nditur8 indudes all expendliure Ihal 18 nailhor rolaiod to raising funds for thg charty nor part of 115 expenditur8 on charitabl8 activilios. All Ore allocated Io ompgnditure ¢ategor￿ rgflecbng the usg of the 188wrce. Direct costs attributab18 to a single activity are allocated directly to that activlly. Shared costs are apportioned b¢￿e¢n the activities th&y contribule lo on 8 ￿aSonable, justifiable and c￿nsiStenI b8Si8. Tanglbh ass•l$ Tangible assets are initially recorded al cost, and subsequently staled al cost less any 8¢cumulaled depreciation and ImpalM￿nI losges. Any tangiblè a39ets carried al revolued amounts ale recorded al th& falr value al the dale of revaluation 10s5 any subsequent accumtslated depreL?ation and subsequent acGumulaiod impalmienl losses. 13 Sophla Polnt Ralnforest Project Company Llmlt•d by Guarantso Not•s to the Flnanclal Statements {¢onthu8dJ Year end•d 31 July 2024 AcMuntlng poll¢l•• Tanglble us•ts {¢oAdnu•d) An Increase In the carrying amount of an assel as a result of a rev8luakn. 1$ recogn18ed in other rgcognis8d g8lns and losses. unless It faverses a charge for Impalment that has previously boen recognisèd as expenditu￿ within the stslement of finanoal activities. A decrease in the carrying amwnl of an asset as a resull of revaluation. is recognlsgd in othèr recogni88d gains and losses, except lo whlch il off8ets 8ny previous r8valuallon gain, in which tas8 the loss 1$ St￿wn within other recogrthd gain$ and los￿ on Iha Statement of finanGial a¢tivlti88. D•prnclallon Oepreciatlon is calcuhted 50 as to wrile off the ¢ost or ¥8iuaiion of 8n 8sseL le88 its fesidual value, ovgr the useful economlc Ife of that a8881 as ftllows: 20% stfaitht Ilne Impalnnont of fix•d a#••t• A revitr•V for Indlcators of Irrpalrment is ca￿led oul at èach reporting dat8, wilh tha recoverablo amounl belNJ 88tlmated whgro $u¢* IndlcatOTS exi¥l. Wh8r• the carrying valu¢ exceeds tho re¢ovorablg amount, Ihe asset is impairod accordingly. Prior impairnients aro also revie4￿d for Possible revèrsal al each reportlng dale. For the purposes ol impairment tesling. when 11 is not possible to esb'maie Iho recoverable arnc￿￿t of an individual ass￿. an estimate is made of the recoverable amount of the cash*èn8raling unrt lo which the assel belongs. The cash-gener811ng unit is the 8mall8St Jenlifiable group of ossels that Includes Ihg asset and generales cash Inflow8 that largely Independént of the cosh Inflo￿ from olh8r ass8ts or groups of as58ts. For impairment tosling of gwdwiil, the goodwlll acqulr9d In a busines8 comblnation 1$, frnsid9ralk￿ expe¢ted to be Pa￿ or re¢ebve¢J 8T￿ not dlscounled. Financial assets Ihal are measured at cost or ￿Ortised cost are reviewed lor objective evldenco of impairrnenl at Ihg end of each reporting dete. If thoro is objective evldencg 01 impaiment, an Impaimient Ios8 Is recognised undeT the approprfate heading In the statement of financlal actlvilies in t*hich the inlual galn was rfjMgnl￿d. 14 Sophla Polnt Ralnforest Project Company Llmlted by Guarantee Notes to tM Flnanclal Stat•m•nts (rgnthu•dJ Year andad 31 July 2024 Llmltod by guarants• The ¢ompany 1$ lknll¢(I by guarant99 of mernbgrn and dogs not have a share capllal. The Ilability of m8n*grs Ss limited lo £60. Donatlons •nd1ogacl•• Unrestricted Total Fund8 Unrestdcted Total Ftsnds Funds 2024 Funds 2023 Donatlon• Donatlons 237.837 237,837 133,142 133.142 Inv•stm•nt Incom• Unrestricted Total Fundy Unr6slrlcted Total Funds Funds 2024 Funds 2023 Bank Interest r8celvabla 250 250 1,128 1,128 (Xh•r Incom• Unrestricted Totsl Fundj Unrestricted Total Funds Funds 2024 Funds 2023 Other Incoma 250 250 1,846 1,846 8. Expondlture on charltablo act￿111•0 by fund typ Ur￿estrICted Total Fund$ Unrestricked Total Funds Funds 2024 Funds 2023 Support costs 124.847 124,848 11KJ.557 100.557 Exp•ndltur• on eharltabl• athl11￿ by adlvlty typ• Support Total fund costs 2024 Total fund 2023 124.848 124,B4J 100.557 10. N•t Income Net income is slated after Charg1￿(credItingI'. 2024 2023 Depreciation of tanglble fixed assets Loss on dispD881 of heriiaga asséts Operaling18as8 rentals Foreign exchange difference8 509 1.488 15,056 2,031 21,452 125,599) 16 Sophia Point Rainforest Project Company Limlled by Guarantso Not•s to the Flnanclal Statements (eonttftwoj Year •nded 31 July 2024 11. Indep•nd•nt •xamlnatlon fe•• 2024 2023 Fees payable to the indtpendent examiner for: Indepnd8nt ex8mination of the finBnual statements 6,000 6,000 12. Staff C￿1* The total staff costs and emplo￿ benaflts for the rvportlng peTW)d ar8 anaty88d as follows.. 2024 2023 Wages and so10ri8s Social secuTIty Costs Other employe8 benefit¥ 69,436 1,449 49.188 70,885 49,242 The average head count of employeos durlng the year was 1 (2023.. 1). Tr average number of fvll-time 8quival&nt employees dwng the yaar 15 anatysed 88 foNows'. 2023 No. 2024 Number of sl8ff No 8mF4oyee received ern¢￿ bonefils of more than £60.000 during lh8 year (2023: NII). 13. Trust•• r•munoratlon and •xp•ns•s No remunerallon or other beneffts from 6mpknyment wllh the chaTIty ¢x a related enkn'ty were receiv8d by the Irusia88. 1& Tanglbl• flx•d a••ots Land and Ftxtur8s and lyJiklingS fittings Tot•1 Co4t At 1 August 2023 Addltions 153,985 438,089 2.545 156.530 438.089 At 31 July 2024 Dèpr•cl•tlon At 1 August 2023 Charge for the year At 31 July 2024 C•rrylng amounl At 31 Juty 2024 AI 31 JLty 2023 592.074 2,545 594.619 1,018 509 1,018 509 1,527 1,527 592,074 1.018 593,092 153.985 1.527 155.S12 16 Sophla Polnt Ralnforest Project Company Llmltsd by Guarant•e Notes to the Flnanclal Statements [cvJrtknu•OJ Year ended 31 Juty 2024 1S. Cr•dStors: amountty falllng du• wlthln on8 yoar 2024 2023 Bank loans and overdrafts A¢¢ruals and delerred income 4,422 12,000 6.000 16,422 6.000 16. Analymls of Eharltablo fund$ Unr•strlct•d fund• 1 August 202 At Income Expendllure 31 Juty 2024 General funds 630,331 238.337 1124,847) 744821 At 1 August 202 At Ir￿Qme Exponditur8 31 July 2023 General fvnds 594,772 136.116 11LK>.5571 630,331 17. Anal￿18 of net asMts b•lwe•n fund• Unre61rfcted Total Funds Fur￿$ 2024 Current assets CT8ditor51oss than 1 year N•t assets 760.242 (16,422) 743.820 760,242 116,422) 743,820 Unreslrieted Total FurKIs Funds 2023 Currgnt 055915 Credilois less than 1 year N•t ••8•t8 636,331 16.0001 630,331 636,331 (6.000) 630,331 17