Annual review · Year ended 31 March 2022
Pandemic restrictions and Myanmar’s political situation continued to limit travel. Circuit’s report placed greater trust in local leadership at the centre of its approach, while Seed Banks remained the backbone of the programme.
Seed Banks · Reported activity
Reported Seed Bank outputs. Figures are not measures of poverty reduction or trafficking prevented.
The report recorded activity across seven village tracts, with 1,320 people assisted and 340 acres planted. Community lending aimed to reduce farmers’ dependence on high-cost debt, while shared responsibility and accumulating interest supported the longer-term goal of local ownership.
Love Conquers All Foundation continued the model of buying and storing grain for later sale. No quantified outcome results were supplied. Political disruption affected coffee exports, so funds held for the Coffee for Opium programme were to be redirected to other programmes.
The report continued to emphasise the Myanmar team’s ability to make decisions quickly. Circuit described encouraging experience from giving local leadership more room to act, particularly in grain storage, while acknowledging that the assessment was anecdotal and financial.
Financial overview · NZD
Income exceeded expenses by $83,230, but cash decreased by $12,146 during the year. The accounts use accrual accounting: recognising income and expenses can occur at a different time from receiving or paying cash.
Accounts use accrual accounting. The annual surplus or deficit is different from the change in cash. Figures are the reported totals.
| Total income | $220,360 |
|---|---|
| Total expenditure | $137,130 |
| Surplus | $83,230 |
| Cash at year end | $205,819 |
| Total assets | $215,120 |
| Total liabilities | $8,945 |
| Net assets | $206,175 |
Download the supplied service-performance section (PDF)
The original report includes a limited-assurance review by Adele’s Business Support Limited, dated 27 October 2022. A review involves fewer procedures than an audit; the reviewer did not express an audit opinion.
This reader edition is a retrospective summary prepared in September 2026. It does not replace the signed accounts, their accounting policies or notes, and has not itself been independently reviewed.
Source: original performance report, service performance pages 5–7, financial statements and notes pages 8–15, and independent review pages 16–17.