)Fauna Vlora Saving NatureTogeth .éL Al Annual Report & Accounts 2023 ## **Message from the Chair** As I write this, I am just beginning my journey as Fauna & Flora’s new Chair of Council, taking over from my predecessor Dr Liz Rogers. I would like to thank Liz for her excellent work and dedication as interim Chair, and am honoured to be taking on this important role for such a prestigious organisation. 2023 was a year of change for Fauna & Flora. We embarked on a new strategy that will steer our approach through to 2030. We refreshed our brand to better communicate our ambitions and direction of travel. And we welcomed on board our new Chief Executive, Kristian Teleki. Our new strategy is our response to the scale of the crisis that our natural world faces. It builds on the knowledge we have amassed over our long history and is informed by local knowledge and scientific rigour. It is an evolution of our approach. Most importantly, it puts our local partner-led approach front and centre, recognising this as critical to achieving real and sustainable impact at a global scale. If we are going to halt - and reverse - the degradation of our natural world and tackle the climate crisis head on, we need to rapidly and radically increase the funding available to those who are tackling nature loss on the ground. But to achieve this, conservation organisations need to demonstrate that they can deliver a good return on investment in the form of real-world benefits for nature. Fauna & Flora is a leader in this arena. Not only do we track our impact through a rigorous annual reporting process, our whole approach is geared towards fostering a global group of thriving partners and enhancing collaboration across a wider network of people and organisations. We want to inspire positive change and see all sectors of society working together to restore the health of our planet. I know that Kristian shares my determination to ensure that Fauna & Flora maximises its impact at such a critical juncture, and he recently shared with me a particularly encouraging observation made by Rocio Moreno from Fundação Maio Biodiversidade (FMB), our partner in Cabo Verde: “It’s clear how fragile NGOs are; things change quickly, and we’re firefighting. Fauna & Flora has been great to me as Director of FMB. You’ve never said ‘no’, but ‘we’ll find a way’.” Read our **Conservation Impact Report** This, to me, seems to encapsulate Fauna & Flora’s spirit perfectly. I look forward to working with Kristian and the entire team to expand what we do and increase the impact we have for nature and people around the world. Read our **Strategy to 2030** **Stephen Fitzgerald AO** ## **Contents** |**Contents**|| |---|---| |**A message from our Chair**|**2**| |**Strategic Report**|**4**| |Our purpose and mission|**5**| |Our approach|**6**| |How we work and our objectives|**7**| |Where we work|**8**| |2023 highlights|**10**| |Plans for the future|**22**| |**Structure, Governance & Management**|**23**| |Our structure|**24**| |How we are governed|**24**| |Trustee recruitment, induction and training|**24**| |How we are managed|**24**| |The Charity Governance Code|**25**| |Trustee duties in relation to Section 172 of the|**26**| |Companies Act|| |Reference and administrative details|**28**| |**Key Policies & Statements**|**30**| |Public benefit|**30**| |Reserves policy|**30**| |Investment policy|**31**| |Grant-making policy|**31**| |Environmental policy|**32**| |Remuneration policy|**33**| |Safeguarding policy|**33**| |Going concern|**33**| |**Fundraising**|**34**| |**Principal Risks**|**36**| |**Financial Review**|**38**| |**Statement of Trustees’ Responsibilities**|**43**| |**Independent Auditor’s Report**|**44**| |**Financial Statements**|**48**| |**Notes to the Financial Statements**|**52**| Cover image: Green turtle hatchlings. © Vasco Pissarra / Fundação Príncipe 2 Fauna & Flora Annual Report & Accounts 2023 3 ## **Strategic report** ## **Our purpose and mission** **Our shared purpose is to protect the diversity of life on Earth, for the survival of the planet and its people.** **We work closely with local conservation partners around the world to save nature, together. We harness this collective expertise to inspire positive change globally.** 4 Pine PetePmt hen FeOn ant , - nn_rat]rl OFeee geSs es4 as< . =7Nd ee.i Fauna & Flora staff take a break during a eet"a aEae feo. =ee= Sate2~eeSears hseoeee. hypeFiatoeeeie aNI Ahey-St + \ IESeeSe= SOONeeeBFone r ee PosaeStE eae 2,eaeMaee es =a ne5atetheney “ep— ST Sept. Se NSSa : Sac=~Sa biomonitoring patrol to admire the view across te fe er el nda in Seeeiaee > Sa 3 ee Re ie = oo ee ee MSAD oe haAE: oe ale ile EL Ie 3 ort ea Lane tewe Fe ig Southern National Park, South Sudan. ME i ee[ag][EEE][Ps][AOA] © Justin Purefoy / Fauna & Flora SGnae: CS ETEG[i] LS ge Ra as SMUD { ier teres Pere ss = ag Ba nas A PR oa ae Bes BeeSS me ee a ee or Re er ee , AASyee Rie eeleehtSaagBo tale“sgt Saris Oar pee,‘ SiavA 4 BaeaeSapfeVistarpag Fauna & Flora a EEFisC2 SeiShan,thay2 StabsaBepoDb FtFaeByeT 7TSLett= mee f fenGTzalaeeeSoe“heth Soe ES‘ Aeee DAEelyestig IV OEme257in ameOP»CFae2 Pat>PePsRete BaeroeSeigotigays OEStSea hae, 7 brMORtC~ k=att Saa esPobe”,Neaa atten “ACr- aee SeeaeDn ‘ Rerhee“yeArete.RRpeer SeMaas.SONSeetay SSSeodes= Ap?wy ea, OR, i~Me Biteyaa5 oe2 A athyah Ya:Sele ARSetre gkoeSeRRAtae Annual Report & Accounts 2023 5 ## **Our approach** ## **How we work** **We support, sustain and strengthen local nature conservation action. For the survival of species and habitats, the planet and people.** ## **2. Strong partners** We support our partners as they grow, helping them to flourish and increase their own impact. ## **1. Impact on the ground** Our work is rooted in conservation at the local level, where we collaborate with in-country partners to protect and restore nature on the ground. ## A strong and resilient organisation – built on expert, diverse and motivated staff, and engaged supporters – forms the bedrock of all our work. ## **3. Decisions for nature** By promoting better policy and practice, we create a healthy canopy that fuels a flourishing global conservation programme and community. ## **4. Seeding better conservation** We spread our ideas far and wide, contributing to a growing global conservation community taking action for nature around the world. Around the world, we work on the ground with local partners and communities. By aligning our technical skills and experience with their expertise and their local and traditional knowledge, we each play to our strengths for maximum conservation impact. We influence businesses and governments to make informed decisions that benefit nature by addressing issues that affect our sites and improving global policies and practices. We also ensure that the voices of those spearheading conservation on the ground are heard. We innovate, test new approaches, share skills and accelerate learning in support of the evolution of the wider conservation community. We aim to embrace new sectors and communities in order to make a greater contribution to conservation, diversifying the skills that can help solve the crisis before us. We tackle the biodiversity and climate crisis as one. Our projects are integrated, effective and sustainable so that – working with our partners – we can deliver the best outcomes for climate, food security, livelihoods and health, as well as for nature. ## **Our objectives** ## **Fauna & Flora is committed to achieving the following charitable objectives:** - To conserve the environment by protecting biodiversity for the benefit of the public through globally applicable solutions that are effective locally. - To advance the awareness and education of all sectors of society around the world in the conservation and protection of biodiversity. To achieve our mission and charitable objectives, our Strategy to 2030 sets out our ambition to double our impact by focusing on five areas: ## **1 Impact on the ground** **Protect and ensure the recovery of nature on the ground, working with in-country partners.** ## **2 Strong partners** **Support our partners to increase their own impact.** ## **3 Decisions for nature** **Influence wider policies and practices that affect the places where we work, but also have wider national and international impacts. Ensuring nature is prioritised and championing globally important issues overlooked by others.** ## **4 Seeding better conservation** **Ensure that we contribute our learning, innovation and voices to global efforts for change, and support others to do the same. This includes bringing unexpected skills and sectors into conservation, and helping to better align local experience to global ambitions.** ## **5 A flourishing organisation** **Underpin these objectives by ensuring that Fauna & Flora is a dynamic and resilient organisation, built on effective, expert, diverse and motivated staff, and engaged supporters.** 6 Fauna & Flora Annual Report & Accounts 2023 7 ## **Where we work** **Fauna & Flora has over 120 projects**[†] **in more than 40 countries around the globe.** †. For the purposes of this report, a project is defined as a set of activities leading towards a meaningful conservation outcome. The conservation result that a project works towards might be a specific biodiversity target, such as the conservation of a site or a species, or it might be creating a specific set of enabling conditions for delivering better conservation - for example by changing the behaviour of a particular group to address a specific issue. A project may encompass multiple sites and/or species and employ multiple conservation approaches. A project might be delivered by Fauna & Flora directly, or in collaboration with partners and other organisations. ## **Asia-Pacific** ## **Americas & Caribbean** ## **Africa** ## **Eurasia** **Anguilla Cabo Verde Georgia Australia* Antigua and Barbuda Congo-Brazzaville Kazakhstan Cambodia Bahamas Democratic Republic of Congo Kyrgyzstan Indonesia Barbados Ghana Romania Lao PDR Belize Guinea Tajikistan Maldives Dominica Kenya Türkiye Myanmar Dominican Republic Liberia United Kingdom** Vietnam Ecuador Madagascar Uzbekistan Grenada Mozambique Honduras Rwanda Jamaica São Tomé and Príncipe Nicaragua Senegal Saint Lucia South Africa St Vincent and The Grenadines South Sudan Trinidad and Tobago Tanzania United States of America* Uganda** * Administrative hub ** Headquarters Fauna & Flora Annual Report & Accounts 2023 9 8 ## **2023 highlights** Pages 12 to 21 aim to provide a representative sample of Fauna & Flora’s achievements in 2023. These examples serve to illustrate how our work with partners 7 is contributing to our organisational objectives. For a more comprehensive account of our activities : and impact over the last year, take a look at our 2023 Conservation Impact Report: www.fauna-flora.org/conservation-impact 10 Fauna & Flora Annual Report & Accounts 2023 11 ## **1. Impact on the ground** ## **Working on the ground, in partnership** People living closest to nature can be our biggest allies in protecting and recovering nature. So we work with local organisations and alongside local communities to protect and recover habitats and species around the world. By 2030 we aim to have doubled our impact on the ground – ensuring far more land and sea is secured and recovered for biodiversity, for climate security and for people. We design and put in place holistic projects to ensure that places, species and people all thrive as a result of our work. We support people living locally to be active participants, partners and leaders in conservation and sustainable natural resource management and help ensure that they are properly resourced. ## **2023 highlights** **----- Start of picture text -----**
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## Direct conservation activities at **111 marine and coastal sites** Supporting on-the-ground conservation across more than **12.8 million ha** **36 sites** Growing and/or planting over Carrying out **435,000 245** tree seedlings, including over Protecting and releasing over **15,000** turtle hatchlings **biodiversity surveys** within our field projects **31,000** from threatened species Supporting sustainable livelihood activities that directly benefited almost **14,000** people Engaging with over Engaging with over **4,500** people from 475 communities to inform conservation actions **190** communities on local planning or governance ## **Adapting to a changing climate in Nicaragua** (including the use of living fences, diversified and phased planting, and not clearing or burning standing forest) applied on their farms were contributing to a reduction in their vulnerability to the effects of climate change and economic shock. The remarkable island of Ometepe in Lake Nicaragua consists of two volcanoes – one dormant and forested, the other active – joined together by a low strip of land. Designated as a UNESCO Biosphere Reserve, the island harbours the largest remaining population of the endangered yellow-naped parrot and is home to 170 bird species. Ometepe has developed into a model for sustainable, climate-resilient development and biodiversity conservation. In conjunction with government agencies and other partners across Nicaragua, Fauna & Flora is rolling out this successful agroecology blueprint to farmers and communities nationwide, for the collective benefit of the country’s people, nature and climate. Ometepe is also home to 40,000-plus inhabitants, more than half of whom rely on small-scale subsistence farming. Increased demand for new farmland, unsustainable tourism development and climate change pose growing threats to Ometepe’s globally important wildlife, and to the forest and freshwater ecosystems that underpin local livelihoods. In collaboration with government agencies and local community cooperative Biometepe, Fauna & Flora works with islanders to promote grassroots participation in biodiversity conservation, and to support more climate-resilient and sustainable use of natural resources. Alongside our partners, we have helped to put together an island-wide Climate Adaptation Plan and a programme to trial climate adaptation measures on a series of demonstration farms. We have also engaged islanders in reforestation and yellow-naped parrot protection efforts. **Forestry has really protected me against natural disasters. Because the strong winds don’t destroy my plants anymore. Even when there was a hurricane, the storm didn’t have as much impact on my farm compared to my neighbours, who don’t have as much forest protection.** In 2023, we delivered training in agroecology practices – a holistic approach that applies ecological and social principles to sustainable agriculture – to more than 450 farmers across ten farming communities. 95% of the farmers interviewed in our agricultural practices survey reported that the agroecological practices **Narcisa Morales - Farmer, Ometepe** . **----- Start of picture text -----**
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Annual Report & Accounts 2023 13
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12 Fauna & Flora ## **2. Strong partners** ## **Supporting in-country partners** We work together with our partners to save nature on the ground, but we also want to see them thriving, growing and increasing their own impact, in line with locally determined agendas. So a key priority for us is to help our core partners meet their own defined priorities. This includes supporting them to develop the skill sets, resources and confidence they need to grow sustainable programmes and institutions. In turn, they are then able to share that expertise with others. ## **2023 highlights** We worked with We delivered conservation **397** skills training to over in-country organisations, **1,500** of which **staff 67** from partner and were core partners in-country organisations We disbursed **£7.1m in conservation grant funding** **51 of our core partners** were national or local NGOs or community-based organisations, while Of the **Over 67 core partners** we worked with: **two 57 received organisational development support thirds of field-based received training and/or mentoring 50 on conservation skills projects worked with a received resources including financial core partner 47 support or equipment** **16** were government agencies ## **Su ortin artners to build resilience pp g p** and resilience was identified as a clear priority by its staff, and because they demonstrated readiness to engage effectively at all levels of the organisation. Small organisations are often stretched for time and money, so they struggle to build the systems and structures needed to pay the bills on time and to work efficiently. At Fauna & Flora, we want to break this cycle. So, we accompany and support partners over time as they strengthen their organisations. Through a participatory process, Fauna & Flora supported FUCSA to assess the organisation’s resilience and priorities, forming the basis for an updated three-year strategic plan and risk register. As a result of this grant, FUCSA anticipates that its governance and organisational functioning will be stronger, financial operations will be more effective and visibility will increase through better use of social media. Already, FUCSA has seen its efficiency and team capacity increase, enhancing conservation efforts. In 2021 Fauna & Flora launched the Conservation Resilience Fund to support our in-country partners – who are working on the front line of conservation – to anticipate and adapt to increasingly challenging circumstances and crises. Over three years, the Fund provided sub-grants, mentoring, technical assistance and training to 37 local partner organisations. Our partner Fundación Cuero y Salado (FUCSA), with whom we have worked since 2011, was selected to receive a Resilience Fund grant in 2023. FUCSA is the NGO co-manager of Cuero y Salado Wildlife Refuge – a marine protected area (MPA) and Ramsar wetland in Honduras. FUCSA works closely with communities within and around the MPA on participatory governance and to conserve key species and habitats including Antillean manatees, mangroves, inundated forests and the estuary. **Resilience is more than just taking care of our day-today business; it is about investing time and resources in strategic actions that can have an impact over time.** FUCSA was selected for the Resilience Fund grant because increasing organisational strength **Ana Paz - Executive Director, FUCSA** **----- Start of picture text -----**
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FUCSA team – Ana Paz, Karla Mendoza, Jairo Garcia,
Andrea Castro – at the strategy development workshop.
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14 Fauna & Flora ## **3. Decisions for nature** ## **Influencing wider policies and practices** Decisions made by governments, international bodies and businesses can help or hinder nature. We aim to influence laws and policies that have a direct impact on the sites where we work, and ensure that the knowledge and information we and our partners hold can be used to influence key global decisions. **----- Start of picture text -----**
Plastic pellets are a common sight
on beaches around the world.
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© Tanya Cox / Fauna & Flora
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We are also working to find credible, practical and effective ways to get more finance invested into nature conservation and climate change work in a way that benefits people and planet. We strive to find solutions that ensure this finance reaches those taking action on the ground. ## **2023 highlights** **----- Start of picture text -----**
a
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We engaged with
150
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We influenced the development of at least **170** The number of **93** companies–ranging from local to global–that **policies** we worked with directly ## **government agencies** on policy issues **----- Start of picture text -----**
Our 12 in-depth business engagements
ranged across a number of sectors: We contributed
to the
development
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mechanisms, 58% laws,
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## **Catalysing European Union policy development to prevent lastic ellet ollution p p p** as their ‘go to’ advisor for all issues pertaining to pellet pollution. The proposal marks a momentous step towards putting an end to this form of pollution and demonstrates the impact of advocating for nature. Amongst sand and pebbles, small pieces of plastic are now a common sight on beaches. These lentil-sized pieces of plastic – called pellets – are melted together to create almost all plastic items used day-to-day. However, due to spillages occurring on land and at sea, these pellets are found washed up on coastlines across the world. If adopted by the European Union this will be the first pellet legislation in the world, paving the way for further global policy developments. By weight, plastic pellets are estimated to be the second largest direct source of microplastic marine pollution; it is estimated that billions of individual pellets enter the ocean every year. **It is clear that voluntary action alone is insufficient to drive the systemic change needed to eliminate this form of pollution, both on land and at sea. We need an urgent move towards regulation that mandates the implementation and maintenance of pellet loss prevention measures across the supply chain and at all stages of the life cycle.** Although they are only tiny, plastic pellets are causing huge harm to marine wildlife and habitats — smothering seagrass meadows and filling the stomachs of seabirds and seals, fish and turtles, meaning many starve to death. We’re working with partners to campaign for the European Union to develop robust legislation based on a supply chain approach. Through our advocacy work on pellets — from co-organising a panel event at the European Parliament, to providing technical support to the European Commission — we have seen increased awareness and engagement in addressing supply chain pellet loss. This culminated with the release of the European Commission’s proposal of measures to prevent plastic pellet pollution, in October 2023. Tireless support and advice to the Commission in the lead up to this proposal established Fauna & Flora **Tanya Cox – Senior Technical Specialist, Marine Plastics, Fauna & Flora** 16 Fauna & Flora Annual Report & Accounts 2023 17 ## **4. Seeding better conservation** ## **Innovating, sharing and contributing to global efforts** Fauna & Flora is part of a wider and growing community carrying out conservation around the world. To achieve rapid and lasting success we, as a community, need to share lessons, innovations and successes with each other. Fauna & Flora contributes to this in a number of ways, including: - Participating in collaborations, both within and outside our sector. - Supporting training and skills transfer for a broad range of organisations and individuals. - Innovating and testing new approaches and tools for tackling biodiversity loss. - Promoting the uptake of new technological tools. - Supporting better conservation decision making, including improving the links between local realities and global discourse. - Actively sharing lessons learned, and promoting the leadership of our in-country partners to show how much can be learned globally from local knowledge and action. **Seeding better conservation is woven throughout our programmes. Below is a selection of highlights from 2023 that serve to illustrate the range, scale and impact of this work.** ## **2023 highlights** **----- Start of picture text -----**
4s We worked with a total of
ny 779 organisations
3%
Research from
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for Conservation
7% | Government agencies
website reached 31%
Academic institutions
over 12% Businesses 49
International NGOs
10% Other projects
3,000 27% Networks or coalitions was used to influence
people
wider decisions
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As a result of our work, at least **17 23 12** teams comprising students from participants from **25** articles were published in **74 18 8** peer-reviewed conservationists countries passed countries joined journals and over received grants the Cambridge MPhil our Conservation through the Conservation in Conservation Management Leadership, which we and Leadership **66** Leadership help to deliver training course Programme in grey literature ## **Inspiring the next generation of East African women in conservation technology** Technology has huge potential to contribute to conservation impact, but women are underrepresented as practitioners. In East Africa, for example, access to the knowledge and experience required to deploy tech tools is very limited. WILDLABS and Fauna & Flora launched the Women in Conservation Technology (WiCT) Programme in 2022 to create a regional support network for East African women working in this field. have been applying the skills acquired during the training to address real-life conservation challenges in the field. “The resources provided during the programme, coupled with the network I built, have been instrumental in enabling me to undertake these projects. The ongoing mentorship and coaching have not only bolstered my confidence but have also honed my spatial analysis skills. I am deeply appreciative of the WiCT programme for affording me the opportunity to learn from experienced professionals and for introducing me to the realm of conservation technology.” The first cohort of conservationists from Kenya has already begun working on seed-funded projects to apply the skills learned last year. In 2023, alongside Grumeti Fund, WILDLABS and ConTech Africa, we delivered a workshop for a second cohort — this time from Tanzania — training exceptional early-career women in the use of a diversity of hardware, software and data management tools for wildlife monitoring, protection and resource management. Step by step, country by country, we are realising our vision of a self-supporting network of women working in conservation technology across East Africa. **The ongoing mentorship and coaching have not only bolstered my confidence but have also honed my spatial analysis skills.** Sarah Maagi, a member of the 2023 cohort, shares how she is using the skills developed during the programme in her current work: “As an early-career conservationist with a keen interest in utilising Geographic Information Systems for monitoring wildlife, the WiCT programme has served as a pivotal platform for my professional development. Since completing the programme, I have successfully secured an internship with the Grumeti Fund, where I **Sarah Maagi, 2023 member of the WILDLABS Women in Conservation Technology programme** **----- Start of picture text -----**
N
Sarah Maagi
learning how to
set up a
camera trap.
Annual Report & Accounts 2023 19
© Stephanie O’Donnell
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18 Fauna & Flora ## **5. Fauna & Flora flourishes** To have maximum impact, we must ensure that Fauna & Flora is a dynamic and resilient organisation, built on effective, expert, diverse and motivated staff, and backed by engaged supporters. We are working to ensure that our organisation – including our management and governance – better reflects the international nature of our work. That our systems help us work effectively and that we use what we learn along the way to improve. That our funding keeps pace with our ambition. That we attract, support and retain the best people. And that we are known and trusted by potential supporters as well as those who can help us drive forward the changes we want to see. ## **2023 highlights** We regularly review, and are systematically working through, our equality, diversity and inclusion priorities. We hold ourselves publicly accountable on our progress and share learning with other conservation organisations, including through the Diverse Sustainability Initiative. We value the increasing diversity of our workforce, with 16% of UK employees identifying as racially diverse compared to 4.8% in the wider conservation sector. ## **People and systems** To help us attract and retain the best people, we invested significantly in employee remuneration in 2023. First, we applied full cost-of-living awards across the organisation. We then implemented a job evaluation and grading system and carried out a global benchmarking exercise; this led to the introduction of new and competitive pay structures in all our countries of operation. Finally, we transitioned everyone to our new pay structures. 2023 also saw us bring together over 40 of our leaders from 17 countries for our first ever leadership summit. This provided space to deepen crossorganisational trust and collaboration, to agree strategic priorities, to share and learn from each other and to work together on key challenges. Working in the conservation sector can take a toll on mental health, so – to ensure our staff flourish – we have invested further in global wellbeing. Having sought funding to specifically support this work, we have recruited a dedicated Wellbeing & Equality Diversity and Inclusion (EDI) role, and launched a wider range of initiatives – such as live-translated wellbeing masterclasses and increased focus on mindful leadership and ways of working in order to enhance resilience, creativity and compassion. We have also provided direct support to local and regional partners and emerging leaders, including practical workshops on developing personal resilience and preventing burnout in conservation leadership. ## **Fundraising** To achieve our conservation ambitions, it is vital that we grow our income to meet the resource needs of the organisation. 2023 was a challenging year for fundraising due to the ongoing global economic turbulence; however, despite this, we achieved some notable results: - Our 2023 pangolin fundraising appeal was our most successful ever. This has raised £488k to date from 11,145 donations. This appeal was launched in April 2023 across our main marketing channels: warm direct mail, digital, press and cold direct mail. Not only did this appeal raise the most in income, it generated the highest ever number of single donations to one campaign, including 3,500 donations from new donors. **In 2023 we ran a series of workshops for Fauna & Flora partners and staff on personal resilience, and coping with ecological anxiety and grief. During one of these, the sense of relief from everyone made me realise we were addressing a desperate need within the conservation community for this kind of support. To then see that relief turn to hope really brought home to me the value of this work.** • 2023 also saw the successful roll-out of two new marketing channels, the aforementioned cold direct mail (sending our appeal to lists of prospective donors) and private-site fundraising (recruiting regular donors at events and specific locations). We also tested a new fundraising product – a prize draw – which was launched at the Chelsea Flower Show and raised over £31k for the chance to win a trip to Rwanda and see mountain gorillas. **Monique Rodgers - Wellbeing & EDI Officer, Fauna & Flora** EUR€3.0m for six key areas of work over the next three years. - The Trusts & Foundations team secured a number of renewed commitments – and brought on board new donors – that are modelling many of the key trust-based philanthropy principles, including greater flexibility in their giving and reduced reporting requirements. By following these principles, these donors help to underpin our organisational success, and enable the space for strategic investment to maximise impact. Donors include (but are not limited to) Arcadia, Postcode Green Trust – thanks to funds raised by players of People’s Postcode Lottery, The Schroder Foundation, Lucille Foundation, and Cartier For Nature. - We secured US$15.0m from the Legacy Landscapes Fund, including US$10.0m from public donors and US$5.0m philanthropic co-financing from Arcadia, supporting the West Papua Regional Natural Resources Conservation Department (BBKSDA) to designate and manage a Biosphere Reserve in the Tambrauw Mountains Landscape of Southwest/West Papua Provinces in Indonesia, involving local and indigenous people. - We secured £12.3m, subsequently increased to £14.3m, from the UK Department for Environment and Rural Affairs (Defra) Biodiverse Landscapes Fund for the Lower Mekong Landscape, which covers over one million hectares across Cambodia, Laos and Vietnam. This programme is designed to deliver lasting landscape protection, restoration and sustainable management, maintaining and ultimately improving the quality of the ecosystem and better safeguarding its biodiversity. - We secured US$1.5m from Margaret A. Cargill Philanthropies, which is one of the first of their institutional capacity grants to be focused on locally led climate adaptation. - We embarked upon a new ‘People and Nature Partnership’ with Nando & Elsa Peretti Foundation, securing an initial commitment of ## **Bringing a rare glimpse of the endangered mountain gorilla’s habitat to RHS Chelsea Flower Show** Although boosting the profile of Fauna & Flora with Chelsea visitors was our main focus (as onsite fundraising activities are not permitted), we still raised over £30k in online donations, £60k from donor events and a further £90k pledged, including a legacy. Tracing a rough track through a succession of lush and changing landscapes, Fauna & Flora’s garden at the RHS Chelsea Flower Show gave visitors an entrancing insight into the experience of an ecotourist on a gorilla trek. Funded by Project Giving Back, the garden exhibited the success of our mountain gorilla conservation work, raised the profile of Fauna & Flora and showcased our new brand. Fauna & Flora first began working with mountain gorillas in 1978 after a plea from vice-president Sir David Attenborough. Since then, numbers have increased from just a few hundred to over 1,000 today – a testament to the hard work and collaborative efforts of all those working to save these incredible primates. Fauna & Flora’s Garden featured in online, print and broadcast media coverage with a combined estimated reach of over 1.4 billion people. Broadcast highlights included a BBC Look East feature which went into depth on Fauna & Flora’s work, featuring our gorilla expert Angelique Todd. We also reached a range of target audiences through print media, including British Vogue and The Financial Times. Collaborating with celebrities, we created videos to share on our social channels; notable successes include a video of Dame Judi Dench praising our garden, which has been viewed over 47,000 times on Instagram. _Our garden was designed by Jilayne Rickards and landscaped by Tecwyn Evans, of Living Landscapes._ Dame Joanna Lumley visiting the Fauna & Flora garden at RHS Chelsea Garden Show. Feedback was overwhelmingly positive – with over 22,000 leaflets handed out to visitors and two ‘After Hours’ drinks receptions held at the garden for our closest supporters, both of which required a waiting list. 20 Fauna & Flora Annual Report & Accounts 2023 21 7 : . Head Warden Sim : . 4 € 4 , Khmao and team at Chhay Reap, Cambodia. :, Sams ## **Plans for the future** ## **We enter the second year of our refreshed conservation strategy with huge optimism and ambition.** The evidence we collect from our projects, together with the feedback we get from our in-country partners and from wider conversations, confirms that the way Fauna & Flora operates is both necessary and effective. In 2024 we will continue to consolidate and deepen our strong and diverse programme of work on the ground, which is delivered together with incountry partners and communities. We will roll out a number of new and exciting initiatives, including a tri-country project between Cambodia, Vietnam and Laos. We will also place a particular emphasis on profiling the scope and impact of work across a series of key African landscapes, showcasing how our community-centred approach provides wider benefits for nature, people and climate. Our new strategy puts our in-country partnerships at the heart of how we work. During 2024 we will continue to develop our internal capacity for partner engagement, including embedding lessons learned about effective partnership management. We will continue to support our core partners to meet their own needs – be it helping them to access resources, offering skills and experience from our staff (to complement their own expertise), helping with their organisational development and direct fundraising, and ensuring that their knowledge and experience is sought and heard as part of global discussions. And together, we will advocate for the changes and systems that are needed to increase the accessibility and flow of funding for our partners and locally led conservation. We will also continue to explore a series of new engagements with the corporate sector. These entail promoting positive leadership for nature across a range of sectors; crafting bespoke solutions that help businesses understand their risks and responsibilities around nature; and developing evidence-based and tangible mitigation pathways. We will also continue to support the wider conservation community and share lessons across our networks. We will do this through key collaborations such as the Conservation Leadership Programme and WILDLABS; through tools such as the _Capacity for Conservation_ website; by publishing _Oryx—The International Journal of Conservation;_ and through our input to teaching programmes such as the Cambridge MPhil in Conservation Leadership. We are also exploring a number of exciting new initiatives that will see us convene challenging discussions about new and emerging issues in conservation. And, of course, we continue to develop and improve our own organisation. In 2024, this will include further developing our plan to 2030, taking into account the ever-changing global picture as well as new opportunities. We continue to invest in internal systems – particularly relating to employee experience and progression – and focus on driving greater organisational effectiveness and impact. We will also continue to increase our profile and visibility among target audiences, recognising that we have deep expertise to share and need to be much better known to increase the scale and impact of our work. 2024 brings some important global policy moments, including the first major global biodiversity meeting following the adoption of the Global Biodiversity Framework and key meetings to develop a new Global Plastics Treaty. We will be active across a range of global policy arenas, advocating for greater recognition of the role that local communities and organisations play in achieving global conservation results, and for the adoption of effective local approaches (such as non-state conservation areas). We will also use our expertise and influence to improve the flow of finance to local actors and to ensure that carbon and nature markets have integrity and deliver real impact on the ground. The last few years have been marked by a succession of economic shocks, which have created a challenging environment across the charitable sector. A major focus for 2024 is on bolstering our unrestricted income, and reviewing our funding model to increase financial resilience, while maximising effective on-the ground actions. By prioritising efforts to strengthen our organisation, we will create a solid foundation that enables us to deepen the impact of our existing work and provides a springboard for engaging new partners and expanding our activities to new sites. This builds towards our plans to at least double our impact by 2030. 22 Fauna & Flora ## **Our structure** Fauna & Flora is headquartered in the United Kingdom and is also registered, and has a network of branch offices, in the following locations: **Asia-Pacific –** Cambodia, Indonesia, Myanmar and Vietnam **Africa –** DR Congo, Guinea, Kenya, Liberia, Mozambique, South Sudan and Uganda **Americas & Caribbean –** Antigua and Barbuda, Belize, Ecuador and Nicaragua **Eurasia –** Cabo Verde, Georgia, Kyrgyzstan, Romania and Tajikistan In addition to these branches, which form part of the Charity, Fauna & Flora has related organisations in Australia, Belize, Mozambique, Romania, South Africa and the United States of America. Further information on these related parties can be found in Note 15 to the Financial Statements. ## **How we are governed** Fauna & Flora was established under a Memorandum of Association, which sets out its objects and powers, and is governed under its Articles of Association. The Board of Trustees, or ‘Council’, is the governing body of the organisation and has legal, financial and managerial responsibility for the Charity. The Members of Council are directors for the purpose of company law and trustees for the purpose of charity law. The company is limited by guarantee; therefore, no member of the Board of Trustees has any beneficial interest in the company. ## **Trustee recruitment, induction and training** Members of Council are elected by the membership of the organisation at the Annual General Meeting (AGM) and ordinarily serve a four-year term but can be re-elected for a further term. The Articles of Association provide for any five members in writing or for the existing trustees by resolution, to nominate any member of Fauna & Flora for election or re-election as a trustee. Council has adopted formal procedures for the recruitment, selection and induction of new trustees and has constituted a Nominations Committee to support Council in the implementation of these procedures. The Nominations Committee reviews the structure, size, effectiveness and composition (including the skills, knowledge, experience and diversity) of Council and makes recommendations to the trustees with regard to any changes to these. The Committee reviews all nominations and applications for officers and ordinary members of Council (as well as for other honorary appointments) and puts forward recommendations to Council on suitable nominees. Newly appointed trustees undergo an induction programme, which includes guidance on their role and responsibilities and the opportunity to visit Fauna & Flora’s headquarters to spend time with staff, ensuring that Council members have the information and tools they need to fulfil their legal obligations and to play an effective role within the governing body. ## **How we are managed** Council is responsible for establishing the strategy, policy and control framework of the organisation, which is achieved via twice-yearly full-day meetings and via formal delegations to its subcommittees, the Officers of Council and to the Senior Leadership Team (SLT). Council has established three further subcommittees, all the acts and proceedings of which are fully and promptly reported to the full Council, which sets the terms of reference and membership of each committee. The Executive Committee, comprising the Officers of Council, has regular supervision of Fauna & Flora’s management and operations. The Committee holds bi-monthly meetings with the SLT in attendance, while the day-to-day operations of the Charity are the responsibility of the chief executive officer (CEO), the SLT and other staff. The Audit & Risk Committee meets three times a year and is responsible for engaging with the external audit provision, participating in planning the nature and scope of the audit and receiving and reviewing the Annual Report & Accounts, along with the associated Audit Findings Report. The Committee’s role is to provide critical challenge and its remit includes reviewing internal control and risk management systems and receiving reports on such from the management of the organisation. The Remuneration Committee meets annually to review and agree the remuneration and benefits of the CEO and SLT members, as well as to review and agree the overall remuneration policy for Fauna & Flora employees. In addition, the Committee is responsible for agreeing any significant changes in employee benefits or benefit providers. ## **The Charity Governance Code** Council believes it is best placed to provide effective, strategic leadership and to support the achievement of Fauna & Flora’s objectives if it adopts high standards of governance, with practices and thinking that reflect the Code’s seven principles. Principle 4 of the Code advocates that the Board has informed, rigorous and timely decision-making **----- Start of picture text -----**
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processes, and that effective delegation, control, risk assessment and management systems are in place. To achieve this, Council is provided with all the necessary information to enable effective decisionmaking at its meetings, with adequate time allowed for discussion and for trustees’ questions to be addressed before decisions are made. While its terms of reference reflect matters reserved to the Board, Council collectively exercises its powers of delegation via its various subcommittees, its Officers and the SLT. In addition, a key internal control document, the Global Delegations of Authority, sets out detailed approval procedures reflecting operational processes, financial authority levels and authorised signatories to ensure consistent and accountable decision-making across the organisation. While Council has delegated review of internal control and risk management systems to its Audit & Risk Committee, it retains overall responsibility for risk management and for the effectiveness of the Charity’s approach to risk. Council therefore reviews both the Institutional Risk Register and a comprehensive assessment of individual project risk on at least an annual basis. By discussing and deciding on the level of risk it is prepared to accept, Council can inform its strategic decision-making – properly weighing risks against opportunities to further the Charity’s purpose and mission, with appropriate controls in place to mitigate and manage those risks. Fauna & Flora Annual Report & Accounts 2023 25 24 ## **Trustee duties in relation to Section 172(1) of the Companies Act** The Board of Trustees is aware of its duty under section 172 to act in the way it considers, in good faith, to be most likely to promote the successful achievement of Fauna & Flora’s charitable objectives. Below is a summary of the ways in which the trustees, as the company directors, consider that they have fulfilled their obligations under section 172, having had regard to the following (amongst other matters) in doing so: - the likely consequences of any decision in the long term - the interests of the company’s employees - the need to foster the company’s business relationships with suppliers, customers and others - the impact of the company’s operations on the community and the environment - the desirability of the company maintaining a reputation for high standards of business conduct, and - the need to act fairly as between members of the company ## **Decision-making** Newly appointed trustees are briefed on their responsibilities, including their duty to act in the Charity’s best interests and to use reasonable skill and care to make balanced and informed decisions they believe will best enable Fauna & Flora to fulfil its purpose and mission. When doing so they take account not only of current factors but also of any likely consequences and potential impacts their decisions may have on Fauna & Flora’s success, both now and in the future. This comes to the fore during Fauna & Flora’s strategic planning process when careful analysis of the changing external operating environment helps to shape the trustees’ decisionmaking on where Fauna & Flora’s efforts should be focused and what resources will be needed to deliver its strategy. In 2023, a key area of trustees’ decision-making involved the adoption of a new Strategy to 2030, which – together with a refreshed brand – will enable Fauna & Flora to achieve greater, demonstrable and lasting impact. ## **Stakeholder engagement** ## **Employees** Fauna & Flora recognises that our employees are our most valuable assets and are fundamental to our success. Attracting, nurturing and retaining highperforming and motivated people is key to achieving our mission. We aim to support our workforce in finding a fulfilling, long-term career at Fauna & Flora by investing in training and development, allowing our people to work flexibly, helping them to improve their mental resilience, promoting clear internal communications, and fostering an inclusive ‘One Fauna & Flora’ culture. ## **Partners** Fauna & Flora has a long and successful history of building effective partnerships with others, from local NGOs and community groups to national government and multilateral agencies, international NGOs and large corporates. We pioneered putting conservation in local hands, and we continue to lead the field due to our long-term approach to partnership. All over the world, we work on the ground with local partners and communities. By aligning our technical skills and experience with their expertise and their local and traditional knowledge, we each play to our strengths for maximum conservation impact. We support our partners as needed, to help them develop the skill sets, resourcing and confidence required to develop their programmes and institutions. Our ambition is that our partners’ operations are both sustainable and effective, and that they are in turn able to share that expertise with others. As well as working with local partners, we recognise the importance of partnering with others both within and outside our sector to improve conservation knowledge and practices, and to influence decisions that affect the places we work and people we work with. A key part of our approach is centred on ensuring that the knowledge and voices of those spearheading conservation locally are heard on the global stage. For more information on Fauna & Flora’s work with partners and on influencing others please see our reporting on Objectives 2, 3 and 4 earlier in this report. ## **Donors, members and supporters** At Fauna & Flora, we are fortunate to have supportive and long-standing relationships with our major donors. We also benefit from members and supporters who provide valued and steadfast support, responding positively to our campaigns and appeals and engaging with us through our online communications, as well as both hybrid and in person events. We report regularly to our donors, members and supporters, providing updates on the impact we are having so they can see what we are achieving with their support. Our AGM provides an opportunity for members to engage with trustees and our SLT and to provide us with their thoughts and feedback via a live Q&A session. ## **Suppliers and other stakeholders** In keeping with Fauna & Flora’s values we act with integrity in all our internal and external relationships. This includes our business relationships with suppliers, which we foster through long-term arrangements where appropriate (for example with key professional advisers such as our auditors and insurers). Our collaboration with partners in the Cambridge Conservation Initiative continues to flourish, with our global headquarters at The David Attenborough Building part of a vibrant hub representing the world’s largest cluster of conservation organisations, researchers, anor policy-makers and practitioners. ## **Community and the environment** At Fauna & Flora, we want to see a world where nature comes first and we live sustainably within its limits, a world where nature is valued for its impact on our health, wellbeing, livelihoods and survival. Therefore, as we undertake our day-to-day activities we aim to minimise as far as possible any negative impact we may have on the environment, by reducing emissions, waste and resource use, without compromising our ability to address our purpose and mission. For further details please see the section on our environmental policy. **Below:** Shepherd Silviu Zapodean is one of many who have received electric fences and guard dogs to protect livestock from large carnivores as part of the Life Connect Carpathians project in Romania. ‘i — Annual Report & Accounts 2023 27 26 Fauna & Flora ## **Reference and administrative details** ## **Registered office** ## **Status** Fauna & Flora’s registered and principal office is at The David Attenborough Building, Pembroke Street, Cambridge, CB2 3QZ. Fauna & Flora International (Fauna & Flora) is a company limited by guarantee, incorporated in January 1992, Registered Company Number 2677068. It was originally established in 1903 and was registered with the Charity Commission in May 1992, Registered Charity Number 1011102. **----- Start of picture text -----**
Patron President
HRH The Prince HRH Princess Laurentien
of Wales of the Netherlands
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## **Vice-Presidents** **Baroness Valerie Amos LG CH PC Professor Sir Roy Anderson FRS FMedSci Sir David Attenborough OM FRS Georgina Bloomberg The Lord Browne of Madingley FR Eng** ## **Justin Mundy LVO** ## **Blaine T. Phillips** **The Rt. Hon. the Lord Randall of Uxbridge** **Sir Gareth Rhys Williams CB** **Dr Lisbet Rausing** **Lindsay Bury Dee Caffari** **Dr Claudio Segré** **The Rt. Hon Mark Simmonds** **Charlene de Carvalho-Heineken Giles Clark** **Victoria Stack** **Jon L Stryker** **Viscount Philippe de Spoelberch Dame Judi Dench CH** **Andrew Sykes** **Edward van Cutsem** **Dr Lee Durrell** **Antonio Versace** **Hugh Fearnley-Whittingstall** **Richard Walker OBE** **Rupert Goodman** **Charles Whitbread DL** **Edward Hoare Tim Jarvis AM Anders Johansson Rove McManus** **Dr Adrian Wilson** **Nigel Winser** **The Rt. Hon Baroness Young of Old Scone Jochen Zeitz** ## **Board of Trustees** The trustees who served during the year and at the date of this report were as follows: ## **Officers of Council** **Stephen Fitzgerald AO Dr Liz Rogers Annette Lanjouw David Gibson Martin Tyler Paul Baldwin** Chair _(co-opted 13th February 2024)_ Chair _(stood down 13th February 2024)_ Vice Chair Vice Chair Treasurer _(co-opted 13th February 2024)_ Treasurer _(stood down 13th February 2024)_ ## **Ordinary members of Council** ## **Jeffrey Blumberg** **Dr Liz Rogers** _(from 13th February 2024)_ ## **Hugh Sloane** ## **Anna Gavazzi** **Tola St. Matthew-Daniel** _(appointed 5th October 2023)_ **Hernán González Merlani** _(appointed 5th October 2023)_ **Abshiro Halake** ## **Kimberly Stewart** ## **Tony Juniper CBE** **Hugo van Vredenburch** _(stood down 18th May 2024)_ **Richard Walker OBE** _(stood down 13th July 2023)_ **Dominic Waughray** _(co-opted 21st December 2023)_ **Benjamin Khalili** _(stood down 23rd November 2023)_ **Christine Lloyd** _(appointed 5th October 2023)_ ## **Professor Joanne Webster FLS FRSB** **Miguel Nogales Richard Plackett** ## **Senior leadership team** Chief Executive Officer _(from 26 June 2023)_ Chief Executive Officer _(until 30 June 2023)_ Chief Operating Officer and Company Secretary Global Director of Conservation Senior Director, Communications & Fundraising Senior Conservation Director Senior Conservation Director Chief of Staff _(from 8 April 2024)_ **Kristian Teleki Mark Rose Svetlana Ignatieva Joanna Elliott Jonny Wright Dr. Abigail Entwistle Paul Hotham Nicola Frost** ## **Principal professional advisers** **Auditors** Crowe U.K. LLP, 55 Ludgate Hill, London, EC4M 7JW **Solicitors** Mills & Reeve, Botanic House, 100 Hills Road, Cambridge, CB2 1PH BlackRock, 12 Throgmorton Avenue, Drapers Gardens, London, EC2N 2DL Barclays Bank, Mortlock House, Vision Park, Histon, Cambridge, CB24 9DE Sutton Winson, Greenacre Court, Station Road, Burgess Hill, RH15 9DS **Investment Managers Bankers Insurance Brokers** 28 Fauna & Flora Annual Report & Accounts 2023 29 ## **Key policies and statements** ## **Public benefit** In setting a policy of 6-18 months with a target of 10 months, Fauna & Flora trustees have considered the cost base and risk profile of the organisation and the impact of a sudden drop in income, and believe that the policy is appropriate to allow Fauna & Flora to continue its operations while simultaneously working to rebuild its reserves. Fauna & Flora’s current reserves position is outlined in the Financial Review on page 42. The Strategic Report demonstrates the scope of the activities undertaken by Fauna & Flora in 2023 in furtherance of its charitable purposes for the public benefit. Fauna & Flora promotes the conservation of the environment, benefiting the public through our shared purpose of protecting the biodiversity of life on Earth, for the survival of the planet and its people. We advance the awareness and education of all sectors of society worldwide in conservation and the protection of biodiversity by promoting or conducting training programmes and research and by publishing knowledge acquired as a result of such research; as well as undertaking and engaging in other informative activities including exhibitions, lectures, conferences and seminars. ## **Our reserves fall into three types:** ## **Restricted reserves** Restricted reserves reflect the balance of unspent restricted funding (e.g. grants, donations) that have been received by Fauna & Flora (often in advance) for a specific charitable purpose or project. They are not available for general purposes and can only be spent according to funder terms and conditions. In exercising its powers and duties in furtherance of the Charity’s Objectives, the Board of Trustees has complied with its duty, under Section 17 of the Charities Act 2011, to show due regard for the Charity Commission’s general guidance on public benefit. In addition, whilst setting the organisation’s annual objectives and planning its activities, both in the short and the longer term, the trustees have also demonstrated due regard for any specific guidance from the Commission relating to the conservation of the environment for the public benefit. ## **Endowment reserves** Endowment funds must be spent in accordance with funder stipulations, and are held separately within Fauna & Flora’s reserves because the capital amounts must be maintained. Further details on Fauna & Flora’s endowments are given in note 12 of the financial statements. ## **Reserves policy** ## **Unrestricted reserves** Unrestricted reserves are net assets around which no donor conditionality exists, which may be spent to further Fauna & Flora’s charitable objectives in accordance with internal decisions made by Fauna & Flora’s management and Council. Designated reserves are created from time to time when the trustees identify organisational priorities. These reserves form part of total unrestricted reserves as they represent internally earmarked funds. Currently these funds have been designated for investment in initiatives to help minimise the environmental impact of Fauna & Flora’s activities. Fauna & Flora is committed to maintaining a level of reserves appropriate to the identified operating needs, taking into account financial impact of risk, working capital requirements, future income sources and organisational plans and commitments. Fauna & Flora’s policy is to hold 6-18 months of budgeted, recurring, unrestricted expenditure, with the target unrestricted reserve level of 10 months, whilst also taking into account the total expenditure (restricted and unrestricted) of the organisation as a whole. The Covid-19 pandemic brought into focus the need to maintain an adequate level of reserves in order to protect the organisation from financial shocks. ## **Investment policy** Fauna & Flora’s investment policy outlines how Fauna & Flora will manage its reserves, with reference to the purposes for which the funds have been raised. Fauna & Flora is responsible for the safekeeping and investment of restricted reserves prior to their being required for project expenditure. As such, the main investment priority is capital preservation, with the funds held either on deposit with major banks or in suitable money market funds. Unrestricted reserves are held for general expenditure and to meet unforeseen requirements. As these funds may need to be available at short notice, they are regarded as short-term funds for investment purposes, with capital preservation and liquidity as the main focus. Fauna & Flora keeps sufficient funds to enable efficient cash flow on deposit with major banks or money market funds. Any excess funds may be held in short-dated bond funds and equities. Endowment funds are long-term funds designed to produce an income in line with donor stipulations. As such, these funds are invested in a portfolio of equities, bonds and other securities with the aim of preserving the value of the funds’ capital in real terms and providing a growing income stream. The portfolios are invested over the long term with approximately 70% in equities and 30% in bonds and other securities. Wherever practical, Fauna & Flora will choose investment opportunities that align with Fauna & Flora’s mission. Fauna & Flora has appointed investment managers who will manage the applicable funds in accordance with the investment policy approved for those funds. ## **Grant-making policy** Fauna & Flora makes grants to strategic and implementing partners, and in 2023 we disbursed over £7.1 million in grant funding (2022: £6.2m). All our grant funds are disbursed with clear criteria and application processes, including conducting due diligence based on materiality criteria, and use formal review and clearly defined decision4 making. All grants are made based on written grant agreements that incorporate requirements on reporting and financial ft oversight. Donor conditions are passed on to the recipient in the sub-grant agreement, as necessary. Fauna & Flora staff also reviewed almost 600 grant applications for external grants funds using criteria developed and agreed with the donors. Through this, we influenced the allocation of an additional £32.1 million of conservation grant funds. 30 Fauna & Flora Annual Report & Accounts 2023 31 ## **Environmental policy** All of our activities are designed to address threats to the world’s habitats and species and to have a positive impact on biodiversity. We are therefore committed to minimising our environmental impact wherever we can, while ensuring we are able to deliver on our wider environmental goals. conservation impact while minimising the carbon intensity of our operations, and also provides guidelines for staff. We raised internal awareness about this throughout 2023, and developed an infographic to aid decision making. In line with the sustainable food procurement guidelines, Fauna & Flora has begun providing 100% vegetarian catering at UK events, including Council lunches and staff events, which have been positively received. The internal Green Fund has been used to support staff to make more sustainable choices, e.g. by reimbursing the difference in cost between train and air travel within Europe and cutting-down on single-use plastic waste in Guinea. Reflecting changing commuting habits, we have maintained the hybrid-working policy that we initiated during the pandemic. This offers staff more flexibility on home working and also means a reduction in emissions associated with commuting to an office (although we do not track this, nor any increase in home energy bills associated with working from home). Fauna & Flora has also embraced communications technology in order to reduce our carbon footprint from both commuting and overseas travel. Our Green Group continues to embed the organisation’s environmental policy (currently being updated) and encourage best practice. As a result, in 2023 we received an NUS Green Impact Scheme gold award for the second year running. To quantify and manage Fauna & Flora’s carbon footprint, we established a 2019 baseline for emissions related to our Cambridge office and organisation-wide flights. We have completed an audit of flights every year (except 2020 when traveling was minimal due to the Covid19 pandemic), following the most commonly used accounting and reporting standard: the Greenhouse Gas Protocol. In parallel, our expenses and travel policies have been adjusted to improve information collected about flights, allowing us to track carbon on a regular basis. Our first carbon management framework was adopted in 2023; this outlines our organisational approach to maximising ## **Energy and emissions report (SECR)** As detailed above, over the last three years we have actively promoted energy efficiency and low-carbon choices. Our actions are in line with the carbon reduction and energy efficiency targets set out in the Sustainability Action Plan for the David Attenborough Building, where our headquarters is located. |~~en~~|**2019**|**2020**|**2021**|**2022**|**2023**| |---|---|---|---|---|---| |**Gas (kWh)**
~~en~~
~~Lo~~|107,078|94,175|88,310|95,765|99,230| |**Electricity (kWh)**
~~en~~
~~Lo~~|55,057|35,865|36,565|43,138|41,484| |**Total UK energy use (kWh)1**
~~Lo~~|**162,135**|**130,041**|**124,875**|**138,902**|**140,714**| |**Gas (tonnes CO2e)**|19.7|17.3|16.2|17.5|18.2| |**Electricity (tonnes CO2e)**|14.1|8.4|7.8|8.3|8.6| |**Total associated GHG emissions (tonnes CO2e)2**|**33.8**|**25.7**|**23.2**|**25.8**|**26.7**| |**Intensity ratio = Emissions per office floor**
**space (tonnes CO2e per m2)**|**0.046**|**0.035**|**0.032**|**0.035**|**0.036**| 1. The total UK energy use covers gas and electricity consumption of the Fauna & Flora office in our global headquarters, The David Attenborough Building (DAB). Global data is not yet available, therefore we have agreed a stepwise process for assessing our carbon footprint that prioritises the UK operation, before a gradual roll out to country offices. Please note that 2023 gas data contained gaps between May and December which were estimated using 2022 data for the affected meters. Electricity submeters were not recording between 21/05/2023 and 15/08/2023 thus missing data were estimated by using previous and subsequent similar days from the same year. Energy consumption in 2020-2021 was also affected by the pandemic and increased home working since then. Also note that the DAB’s electricity supply is a combination of 17% renewable electricity purchased from UK-based wind farms via a Power Purchase Agreement, and nuclear power which, under carbon accounting guidance, can be reported as zero carbon. Thus, the DAB’s electricity supply can be considered carbon neutral. For transparency, the emissions figures provided represent the hypothetical carbon footprint that the electricity usage would have represented if electricity had been bought from the UK grid (aka location-based emissions). 2. Associated greenhouse gas (GHG) emissions have been calculated using DEFRA conversion factors, following the widely recognised independent standard, the GHG Reporting Protocol – Corporate Standard. ## **Remuneration policy** Fauna & Flora recognises its responsibility to spend funds wisely and intelligently in line with its status as a Charity and the expectations of the public and those that support its work. In parallel, it recognises its responsibility to ensure that it attracts and retains excellent people with the appropriate level of skills and experience to achieve its mission. To this end, at all levels of the organisation, it aims to ensure that pay is fair and appropriate to the skills required and responsibilities involved. It carries out external benchmarking, with the aim of ensuring that pay is competitive within the charitable sector, within the context of affordability. ## **Safeguarding policy** Fauna & Flora recognises its responsibility to protect people, particularly children and vulnerable adults, from any harm that may be caused by coming into contact with the organisation. This includes harm arising from the conduct of staff or personnel associated with Fauna & Flora, and/or the design and implementation of our programmes and activities. We are committed to addressing safeguarding throughout our work, through the three pillars of prevention, reporting and response. Our Safeguarding Policy & Procedure sets out responsibilities in relation to safeguarding and how a safeguarding concern should be reported. It is a zero-tolerance policy meaning all proportionate and appropriate measures will be taken to prevent an incident, and to respond effectively if an incident arises, with Fauna & Flora committed to acting on every safeguarding allegation and expecting our partners to do the same. ## **Going concern** Going concern remains an increased risk area for all organisations, particularly in light of continued economic challenges, the cost of living and the effects of geopolitical instability. Trustees are required make a determination of Fauna & Flora’s ability to continue as a going concern for a minimum of 12 months following the date of signing of this report. For trustees to make this determination, we have reviewed our actual results from previous years together with our current budget and have updated the projection figures and assumptions therein, taking a conservative approach. The results of this exercise indicate that Fauna & Flora has sufficient reserves to continue to deliver its strategic objectives by the end of that period, and will still maintain an adequate level of unrestricted reserves by the end of it. The trustees therefore have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future, and are not aware of any other material uncertainties which may adversely affect the organisation. Accordingly, the financial statements continue to be prepared on a going concern basis. 32 Fauna & Flora Annual Report & Accounts 2023 33 ## **Fundraising The Trustees have reviewed Fauna & Flora’s fundraising activities in light of the Charities (Protection and Social Investment) Act 2016 and the related guidance published by the Charity Commission. The following summary outlines Fauna & Flora’s approach towards developing and monitoring its fundraising activities.** Fauna & Flora is a membership organisation and uses the membership offer as well as a broader regular giving proposition to cement long-term relationships with donors. Fauna & Flora’s direct marketing activities are carried out in partnership with specialist agencies, who provide creative and media buying services, enabling us to develop supporter recruitment materials and to place our fundraising campaigns across a variety of offline and online channels, including private site fundraising, direct response television, telemarketing and social media advertising. Fauna & Flora has a well-established major-giving programme, with approaches typically made in person by senior staff or trustees. Fauna & Flora also hosts events throughout the year, typically targeted at stewarding and soliciting funding from major donors and prospects. In 2023, as we increased our reach and grew our donor and supporter base, we received approximately 50 complaints relating to difficulties in donating as a result of website issues or failures with our response handling agencies. These include complaints about being ‘upsold’ (meaning that the call handler asks whether the potential donor would like to give an increased monthly gift) or dissatisfaction with the call handler. In each case we listen back to the call, and provide feedback to the agency concerned if we feel a telephone responder has not met Fauna & Flora’s expectations during the conversation, or carry out an investigation with the response handling agency to ascertain the issue. In over 95% of cases the call was deemed to have met best practice standards, and no further action was needed. Fauna & Flora occasionally works with commercial participators. All such new opportunities are assessed against Fauna & Flora’s fundraising strategy and the Fundraising Regulator’s guidance and with due consideration given to Fauna & Flora’s reputation. We have developed a commercial participator agreement template and all such arrangements are monitored to ensure continued compliance with the legal requirements. Fauna & Flora has paid the applicable levy to register with the Fundraising Regulator and displays the Regulator’s badge on all appropriate fundraising materials. Fauna & Flora complies with the terms and conditions of its registration, and follows the guidance and recommendations from the Regulator, as well as the standards contained in the Code of Fundraising Practice to ensure that our fundraising activities are fair, transparent and honest. Fauna & Flora is also signed up to the Fundraising Preference Service, which is run by the Fundraising Regulator, and enables members of the public to manage the direct marketing communications they receive from charities. In 2023, Fauna & Flora received 13 requests to be removed from marketing and fundraising campaigns. We regularly monitor our telephone agencies, which includes weekly reports that highlight instances when supporters raise questions or complaints. These reports, along with training of call centre staff, enable us to continually assess their performance and ensure a high level of supporter care is achieved. Our agencies also follow a set of guidelines to determine supporter vulnerability; if a supporter is deemed to be vulnerable, a case is raised with Fauna & Flora and we will investigate the matter. This may result in a donation being declined and further action being taken. Fauna & Flora regularly reviews its Privacy Statement and updates it when necessary. Our Fundraising Promise makes it clear what personal data is collected, how it is processed and how an individual can get in touch with Fauna & Flora to change their preferences. All of Fauna & Flora’s communications include easy mechanisms for unsubscribing or updating contact preferences and we ensure that our database is updated accordingly. Annual Report & Accounts 2023 35 ## **Principal risks** additional pressures require prudent and agile management of our financial resources and reserves, striking a balance between long-term sustainability and the need to invest in the organisation to support the achievement of our objectives. **The trustees have established a framework for identifying and controlling the major risks to which the Charity is exposed.** ## **Recruitment and retention** The trustees have a risk-management strategy that comprises: Our people are critical to the delivery of our strategy, but attracting and retaining our talented workforce can be challenging in an increasingly competitive global labour market. Recognising this risk, we have introduced a fair, equitable and transparent global job evaluation & pay structure with the objective of (a) providing clarity around career progression, and (b) paying our people as competitively as possible for our sector, while at the same time managing our charitable resources appropriately by ensuring pay levels remain affordable and sustainable. - A rolling review of the risks the Charity faces, or which may arise, tracked in the Institutional Risk Register. This is complemented by regular discussion of risk by the Executive and Audit & Risk Committees. - Systems and procedures to manage and mitigate against those risks and their potential impacts should they materialise. - Processes that allow us to identify and manage specific risks. For example, we have due diligence processes in place to assure us that the charity’s funds, assets or reputation at not at undue risk (by ensuring we know where our funds come from, who the people and organisations we are working with are, and that we can verify the end use of those funds). ## **Financial management, compliance and resilience of in-country partners** This is an inherent risk, particularly where funding is sub-granted from government or multilateral donors, where funding from Fauna & Flora represents a significant element of funding portfolios, and/or where local partners have limited access to international fundraising markets. We identify risks through partner due diligence and invest in supporting our partners to build their capacity and resilience, including through our Conservation Resilience Fund. This fund aims to help core partner organisations develop stronger operational models to better anticipate, cope with and adapt to increasingly challenging circumstances and crises. We achieve this through grants, direct technical support from Fauna & Flora experts and peer-to-peer exchange visits. - A risk-tracking tool that enables regular and comprehensive assessment of individual projects across our portfolio against a series of six risk categories (financial; human rights & social safeguards; health, safety & security; partner; other delivery risks; and impact). - Regular review of our insurance cover to assess whether it adequately addresses the risks and potential liabilities we face, extending cover if new risks are identified. **The key risks faced by the Charity, along with the steps taken to mitigate these risks, have been identified as follows:** ## **Reputational risks** Fauna & Flora’s excellent reputation is dependent on continuing to demonstrate significant conservation added value, which requires all internal decisionmaking systems from programme design to monitoring and evaluation to be functioning well. We continue to invest in sound governance and control processes and to conduct robust due diligence on our institutional relationships, with a particular emphasis on careful selection of partners. To mitigate the reputational risk associated with a greater external profile and potential media interest, ## **Financial environment** The cost of living, economic slow-down, and geopolitical instability pose a continuing range of risks, which we mitigate through careful financial monitoring and management, future scenario planning, diversification of sources of income and by reviewing our non-essential spending. These in autumn 2023 we reviewed our crisis communications procedures and are currently implementing the findings to help us prevent, prepare for, and respond to crises including (but not limited to) negative press coverage. ## **Negative social impacts** Because our work very often takes place alongside people – including those who may be vulnerable and marginalised – we are extremely conscious of the risk of causing negative social impacts, including breaches of human rights, through the delivery of our conservation programmes. Fauna & Flora has adopted a suite of social safeguard policies and procedures to guide our engagement with local communities and other stakeholders in the areas where we work, to safeguard their rights to access, use and manage natural resources, and their rights to access information, participate in decisionee. A making and access justice. Social safeguards help us to manage risks and uphold human rights by recognising local communities as allies and partners in our conservation activities. They help us to minimise harms, and to identify, implement and monitor the effectiveness —<—<—. ——__$_— of our measures to avoid harm, while also maximising positive impacts for people. ## **Global safety and security** Our staff and operations are inevitably subject to such risks especially given some of the more remote, difficult and insecure locations we work in and travel to (such as Myanmar and Mozambique). The appointment of a specialist International Health, Safety & Security Manager has strengthened our ability to mitigate these risks through new and updated policies, procedures and risk management measures designed to protect our people and programmes. These include tracking regional security and political trends for developing situations, monitoring global travel, security and health risks which might affect staff, and having emergency planning and response mechanisms in place. By providing staff with support and training, including hostile environment awareness courses, we aim to embed a culture and practice of safety and security, not only to safeguard them and those that come into contact with our activities but so Fauna & Flora can be prepared for, and respond well to, the safety and security challenges it faces. 36 Fauna & Flora Annual Report & Accounts 2023 37 ## **Overall Position** **This report and the consolidated Financial Statements incorporate the results of Fauna & Flora’s UK operations, its overseas branches and controlled subsidiaries and its associated permanent endowment funds.** The net movement in total funds for the period is a decrease of £5.4m (2022: £3.5m increase), comprising a decrease in restricted funds of £3.1m (2022: £4.1m increase), an increase of endowment funds of £6k (2022: £86k decrease) and a decrease in unrestricted funds of £2.3m (2022: £520k decrease). Restricted funds include around £6.4m of capitalised land purchases and the balance predominantly relates to current, active projects and are largely anticipated to be utilised over the course of the next one to four years. ## **Income:** ## **Financial Review** **----- Start of picture text -----**
Corporate
6%
Legacies
1% Government
& multilateral
Individuals
30%
(inc. Membership)
15%
2023
total income
£36.8M
l a‘\y
Trusts &
Foundations
48%
Income generated overall of £36.8m shows an increase of £3.6m (11%) compared with 2022. Trusts &
Foundations remain our largest source of income at 48% of total (2022: 49%). Funding from Government and
multilateral sources has increased to 30% from 22% of the portfolio in the prior year.
**----- End of picture text -----**
38 Fauna & Flora Annual Report & Accounts 2023 39 ## **Unrestricted income by type** **----- Start of picture text -----**
2022/2023
2019 2020 2021 2022 2023
Change
Individuals 1,362,427 4,139,416 4,081,322 3,804,560 4,209,676 11%
Trusts & Foundations 756,517 859,475 1,821,776 619,169 611,259 -1%
Legacies 2,325,653 1,189,313 901,330 601,962 488,377 -19%
Other 25,514 34,453 7,412 195,069 624,894 220%
Corporate 52,914 196,920 19,806 32,251 82,272 155%
Capital Campaign 125,000 - - - - 0%
4,648,025 6,419,577 6,831,646 5,253,011 6,016,478 15%
**----- End of picture text -----**
Unrestricted income from Individuals increased by £405k (11%) from 2022, a result of successful campaigns as well as investment in direct supporter recruitment. Income from Trusts & Foundations remained in line with 2022, while Legacy income decreased by £114k (19%). We have a strong Legacy pipeline of £1.4m, although the timing of receipt is difficult to predict. Other income includes income from investments and interest. ## **Restricted income by type** **----- Start of picture text -----**
2022/2023
2019 2020 2021 2022 2023
Change
Trusts & Foundations 10,206,257 11,738,061 19,713,173 15,447,495 17,104,561 11%
Government & Multilateral 6,947,640 5,315,100 5,645,650 7,400,676 11,061,076 49%
Corporate 816,097 1,254,924 2,046,255 2,315,213 1,971,917 -15%
Individuals 414,924 1,560,470 2,042,816 2,396,280 238,054 -90%
Other 178,269 180,828 205,417 352,797 408,069 16%
Legacies 44,613 - - - - 0%
18,607,800 20,049,383 29,653,311 27,912,461 30,783,678 10%
**----- End of picture text -----**
Trusts & Foundations restricted income has increased by £1.7m (11%) from 2022, a mix of renewed support from existing, long-term donors as well as income received from new sources during the year. Income from Government & Multilateral sources has increased by £3.6m (49%) from 2022. Government grants tend to be higher value grants and allow us to scale in activity and impacts, however they can be costly in terms of compliance as well as set-up and close-out costs. They may also require co-finance. As ever, we are very grateful for all the support we receive from our donors. ## **Expenditure** **----- Start of picture text -----**
Fundraising
Charitable expenditure across our 11%
conservation portfolio has remained
consistently high as a proportion of total
expenditure (89%) in 2023 (2022: 90%).
With over 120 active projects in more
than 40 countries, we continue to
manage a diverse programme of activity,
which presents its own challenges, but 2023
is also evidence of our far-reaching total expenditure
impact in delivering tangible biodiversity
conservation.
£41.9M
Charitable
expenditure
89%
**----- End of picture text -----**
Fauna & Flora operates through four regional Conservation Programmes (Asia-Pacific (2022: 25%); Africa (2022: 27%); Eurasia (2022: 13%); and Americas & Caribbean (2022: 9%)) supported by an array of cross-cutting initiatives (Conservation Science & Design; Conservation Capacity & Leadership; Business & Nature; Climate & Nature Linkages; and People & Nature), which form our Cross-cutting Programmes division (2022: 26%). **----- Start of picture text -----**
Eurasia
12%
Americas &
Caribbean
Africa
9%
31%
2023
Conservation
programme
expenditure
£32.4M
Asia-pacific
26%
Cross-cutting
programmes
22%
**----- End of picture text -----**
40 Fauna & Flora Annual Report & Accounts 2023 41 ## **Reserves** The total reserves of the organisation at the end of 2023 were £28.2m (2022: £33.6m). Restricted reserves were £22.6m (2022: £25.7m), these funds comprise balances of unspent restricted funding, funds received in advance, and £6.4m of capitalised land and other programme related investments. Endowment reserves were £644k (2022: £639k), these funds are invested to secure the capital base whilst producing an income stream in support of our gorilla conservation work. Unrestricted reserves were £5.0m (2022: £7.3m). Free reserves (unrestricted reserves less unrestricted fixed assets of £267k (2022: £161k) are £4.7m (2022: £7.1m). This represents 5.6 months (2022: 7.9 months) of budgeted, recurring core expenditure. This is slightly below our minimum level of 6 months of reserves, a result of our unrestricted fundraising income not growing as much as we’d anticipated, combined with the impact of global cost of living increases on our unrestricted cost base. Trustees are paying close attention to the overall financial position and are seeking to bring reserves back in line with the policy range in the medium term, acknowledging that the short term will be challenging. **----- Start of picture text -----**
£million
£30.0
£25.0
£20.0
£15.0
£10.0
£5.0
£.0
2019 2020 2021 2022 2023
Restricted Unrestricted Endowment
**----- End of picture text -----**
## **Statement of Trustees’ Responsibilities** **The Trustees (who are also directors of Fauna & Flora International for the purposes of company law) are responsible for preparing the Trustees’ Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).** The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable group’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to: ## **Disclosure of information to auditors** So far as each of the Trustees is aware at the time the report is approved: - select suitable accounting policies and then apply them consistently; - There is no relevant audit information of which the company’s auditors are unaware; and - observe the methods and principles in the Charities SORP; - The Trustees have taken the necessary steps that they ought to have taken as trustees to make themselves aware of any relevant audit information and to establish that you are aware of that information. - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and The Trustees’ Annual Report and the Strategic Report contained therein were approved and authorised for issue by the Board of Trustees on 27th June 2024 and signed on its behalf by - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. Stephen Fitzgerald AO They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 42 Fauna & Flora Annual Report & Accounts 2023 43 ## **Independent Auditor’s Report to the Members of Fauna & Flora International** ## **Opinion** We have audited the consolidated financial statements of Fauna & Flora International (‘the charitable company’) and its subsidiaries (‘the group’) for the year ended 31 December 2023 which comprise the Consolidated Statement of Financial Activities, the Group and Company Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 December 2023 and of the group’s income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. **Independent Auditor’s Report to the Members of Fauna & Flora International** ## **Other information** The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion based on the work undertaken in the course of our audit • the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. 44 Fauna & Flora Annual Report & Accounts 2023 45 **Independent Auditor’s Report to the Members of Fauna & Flora International** **Independent Auditor’s Report to the Members of Fauna & Flora International** ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement set out on page 43, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: **www.frc.org.uk/auditorsresponsibilities.** This description forms part of our auditor’s report. ## **Extent to which the audit was considered capable of detecting irregularities, including fraud** Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and the Charities Act 2011, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. Protection Regulation (GDPR). We also considered compliance with local legislation for the group’s overseas operating segments. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of grant and contract income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Audit Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates and judgements for biases, reviewing regulatory correspondence with the Charity Commission, sample testing of grant and contract income, and reading minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. ## **Use of our report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. ## VW. Har hena Naziar Hashemi Senior Statutory Auditor on behalf of Crowe U.K. LLP, Statutory Auditor Date: 7th August 2024 In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were anti-fraud, bribery and corruption legislation and General Data 46 Fauna & Flora Annual Report & Accounts 2023 47 **----- Start of picture text -----**
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## **Financial Statements Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account)** For the year ended 31 December 2023 ||**Notes**||||**2023**|**2022**| |---|---|---|---|---|---|---| |||**Unrestricted**
**£**|**Restricted**
**£**|**Endowment**
**Funds**
**£**|**Total**
**£**|**Total**
**£**| |**Income and endowments from:**||||||| |Donations and legacies
Charitable Activities
Investments
Other Trading Activities
Other|3a, 3b|4,192,667
1,195,654
618,913
3,264
5,981|237,634
30,137,554
220,464
420
187,605|-
-
196
-
-|4,430,301
31,333,208
839,573
3,684
193,586|6,270,380
26,344,992
300,823
2,234
247,264| |**Total**
**Expenditure on:**||**6,016,479**
**30,783,677**
**196**
**36,800,352**
**33,165,693**
~~a~~||||| |Raising funds||4,587,721|-|-|4,587,721|3,161,365| |Charitable activities
Jointly controlled operations expenditure
**Total**|21
4a, 6a, 6b|4,273,574
32,955,412
-
37,228,986
27,187,044
58,348
-
-
58,348
55,019
**8,919,643**
**32,955,412**
**-**
**41,875,055**
**30,403,428**
~~TT~~||||| |Net gains/(losses) on investments
**Net income/(expenditure)**||3,412
**(2,899,752)**
~~I~~|-
**(2,171,735)**|5,594
**5,790**|9,006
**(5,065,697)**|(113,318)
**2,648,947**| |Transfers between funds|12|1,041,626|(1,041,626)|-|-|-| |**Other Recognised Gains and Losses**
Realised foreign exchange gains/(losses)||(395,530)|398,807|-|3,277|32,814| |Unrealised foreign exchange gains/(losses)||(34,996)|(287,768)|-|(322,764)|786,844| |Profit/(losses) on disposal of tangible
fixed assets||(4,078)
(15,502)
-
(19,580)
11,178
~~ee~~||||| |Other gains/(losses)|4b|(434,604)|95,537|-|(339,067)|830,836| |**Net movement in Funds**||**(2,292,730)**|**(3,117,824)**|**5,790**|**(5,404,764)**|**3,479,783**| |Total funds brought forward||7,302,407|25,680,054|638,669|33,621,130|30,141,347| ||12|**5,009,677**|**22,562,230**|**644,459**|**28,216,366**|**33,621,130**| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. ~a In 2022, unrestricted voluntary income was £3,874,100 (the remainder was restricted). In 2022, unrestricted charitable activities income was £1,181,608 (the remainder was restricted). In 2022, unrestricted investment income was £194,613 and endowment investment income was £221 (the remainder was restricted). In 2022, all income from other trading activities was unrestricted. In 2022, all income from other sources was restricted. In 2022, unrestricted charitable activities expenditure was £3,454,325 (the remainder was restricted). In 2022, all expenditure on raising funds was unrestricted. In 2022, all expenditure on jointly controlled operations was unrestricted. **----- Start of picture text -----**
Asprete scientific fishing survey. a
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In 2022, unrestricted net losses on investments were £4,357 and endowment fund net losses were £86,442 (the remainder was restricted). In 2022, unrestricted transfers were £755,425 (the remainder was restricted) and unrestricted other losses were £146,959 (the remainder was restricted). 48 Fauna & Flora Annual Report & Accounts 2023 49 **Financial Statements** ## **Consolidated Balance Sheet** For the year ended 31 December 2023 |**Notes**
**Fixed Assets**
Tangible assets
7a
Intangible assets
7b
Investments
8
Total fxed assets
**Current Assets**
Debtors
9
Cash at bank and in hand
Total current assets
Creditors: amounts falling due within one year
10
Net Current Assets
Provisions for liabilities
11
**Total net assets**
**The funds of the charity**
**Income funds**
Unrestricted funds
12
Designated funds
12
Restricted funds
12
**Capital Funds**
Permanent endowment funds
12
**Total Charity Funds**|**Group**
**Group**
**Charity**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
1,897,476
1,855,772
693,959
668,101
173,333
45,713
173,333
45,713
20,932,378
23,005,425
20,932,378
23,005,425| |---|---| ||23,003,187
24,906,910
21,799,670
23,719,239
4,433,281
3,607,886
4,830,107
4,510,838
8,892,352
7,010,457
7,922,239
4,872,469| ||13,325,633
10,618,343
12,752,346
9,383,307
(8,094,768)
(1,886,437)
(8,070,353)
(1,858,920)
5,230,865
8,731,906
4,681,993
7,524,387
(17,686)
(17,686)
(17,686)
(17,686)| ||**28,216,366**
**33,621,130**
**26,463,977**
**31,225,940**
4,954,408
7,246,862
2,975,869
5,096,876
55,269
55,545
55,270
55,545| ||5,009,677
7,302,407
3,031,139
5,152,421
22,562,230
25,680,054
22,788,379
25,434,850| ||27,571,907
32,982,461
25,819,518
30,587,271
644,459
638,669
644,459
638,669| ||**28,216,366**
**33,621,130**
**26,463,977**
**31,225,940**| ## **Consolidated Cash Flow Statement** For the year ended 31 December 2023 |Statement of cash fows
**Notes**
Cash fows from operating activities
16
Cash fows from investing activities
16
Cash fows from fnancing activities
16
**Reconciliation of Net Cash Flow to**
**Movements in Net Funds**
Increase/(decrease) in cash in the year
Cash and cash equivalents at the
beginning of the reporting period
Change in cash and cash equivalents
due to exchange rate movements
Cash and cash equivalents at the end
of the reporting period
**Analysis of cash and cash equivalents**
Cash at bank and in hand
Deposit accounts|**Group**
**Group**
**Charity**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
416,527
201,004
1,464,886
(418,882)
839,573
300,823
833,878
297,756
(409,804)
(863,234)
(388,634)
(863,234)| |---|---| ||**846,296**
**(361,407)**
**1,910,130**
**(984,360)**| ||846,296
(361,407)
1,910,130
(984,360)
23,951,529
22,322,117
21,813,541
20,945,382
(778,748)
1,990,819
(674,707)
1,852,519| ||**24,019,077**
**23,951,529**
**23,048,964**
**21,813,541**| ||**Group**
**Group**
**Charity**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
8,892,352
7,010,457
7,922,239
4,872,469
15,126,725
16,941,072
15,126,725
16,941,072| ||**24,019,077**
**23,951,529**
**23,048,964**
**21,813,541**| The attached notes form part of these financial statements. The (deficit)/surplus in respect of the parent charity only was (£4,761,966) (2022: £3,968,665) The attached notes form part of these financial statements **Approved by the Board of Trustees and authorised for issue on 27th June 2024 and signed on its behalf by** Chair: Stephen Fitzgerald AO Treasurer: Martin Tyler 50 Fauna & Flora Annual Report & Accounts 2023 51 **Notes to the financial statements** ## **1 Accounting Policies** The following accounting policies have been used consistently in dealing with items which are considered material in relation to the charity’s financial statements. Fauna & Flora meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **a) Basis of accounting** The financial statements are prepared under the historical cost convention, as modified by the revaluation of investments, and are in accordance with 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 effective 1 January 2015 (The FRS 102 Charities SORP) and the Companies Act 2006. ## **b) Basis of consolidation** The consolidated financial statements comprise a consolidation of the financial statements of Fauna & Flora International and its fully owned subsidiaries, Fauna & Flora International Australia (Ltd), Fauna & Flora International USA Inc., Fauna & Flora International (South Africa), Fauna & Flora International S.R.L. and Boden Creek Land and Cattle Ltd, and its share of its jointly controlled operations (the Caribbean Alliance) with Re:Wild. ## **c) Significant estimates or judgements** In the application of the charity’s accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods. The investment in Boden Creek Land and Cattle Ltd by Fauna & Flora International has been accounted for as a programme related investment in the charity only balance sheet, rather than as an investment in a subsidiary. The purchase of the share capital of the company was completed in order to achieve ownership of the land owned by the company. The company has no other assets or liabilities. As such on a substance over form basis, the investment has been accounted for as a programme related investment rather than an investment in a subsidiary in the charity only balance sheet. ## **d) Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of Fauna & Flora’s designated funds is set out in the Reserves Policy within the Trustees’ Report. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Permanent endowments are funds which are permanently restricted, details of which are set out in note 12 of the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## **e) Income** All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is entitled to the income, that receipt is probable and the amount can be quantified with reasonable accuracy. Income from donations is accounted for when received and legacy income is included in the accounts when the amount due can be quantified with reasonable probability and the timing of the receipt is known. Grant income is recognised when all three recognition criteria are met (entitlement, probability and measurability). Income from performance related grants and contracts is included in the accounts to the extent that entitlement has been earned through performance of the contract. ## **f) Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Project activity costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management and oversight delivered from UK contracted staff. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are indirect costs related to the overall management and facilities of the organisation, Trustee administration of the charity and compliance with constitutional and statutory requirements. ## **g) Pension Contributions** The charitable company contributes to individual personal pensions for staff; contributions are charged to the profit and loss account as they become payable. ## **h) Finance and operating leases** Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred. Assets purchased under finance leases are capitalised as fixed assets. Obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written off to the SOFA over the period of the lease so as to produce a constant periodic rate of charge. ## **i) Foreign Exchange** Assets and liabilities denominated in foreign currencies are translated into sterling on the balance sheet at the rates of exchange ruling at the year-end. Unrealised gains and losses on re-translation of monetary assets are shown as income or expenditure in line with FRS 102. Unrealised gains and losses of non-monetary assets are dealt with as part of the deficit or surplus on ordinary activities for the financial year. Gains and losses related to restricted projects cannot be allocated to specific projects. Therefore, these are accumulated in a foreign exchange revaluation fund and grouped with restricted reserves, as shown in note 12. These are then allocated to the relevant projects as they are completed. ## **j) Tangible Assets** Tangible assets are shown at cost less depreciation. Assets in use in the organisation are capitalised where the value of an individual item is greater than £3,000 and the asset has a long-term useful life. When items of portable equipment are acquired, such items that fall below this threshold may be capitalised. Where items are acquired from funding from restricted grants, these items will be treated in accordance with the grant requirements and therefore may well be fully expensed in the year of acquisition, rather than capitalised. Depreciation is provided so as to write off the cost of tangible assets over their estimated useful lives at the following annual rates: Fixtures and fittings 20 - 25% straight line IT equipment 33% straight line Software 20% straight line Land & buildings 5% straight line _(buildings only, land not depreciated)_ Vehicles 20% straight line ## **k) Investments** Listed investments are included at the mid-market price as shown in the Stock Exchange Daily Official List as at close of business at the year end. The SOFA includes the net unrealised gains and losses arising on revaluations and realised gains and losses on disposals throughout the year. ## **l) Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due. ## **m) Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **n) Creditors and provisions** Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **o) Deferred income** Deferred income relates to performance related grant and contract income where the conditions of the grant have not yet been met and therefore the Charity is not entitled to the income until a future period. ## **p) Financial instruments** The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and comprise cash and bank and in hand, short term cash deposits together with trade and other debtors excluding prepayments. Financial liabilities held at transaction value comprise the short and long term trade and other creditors excluding deferred income and taxation payable. No discounting has been applied to these financial instruments on the basis that the periods over which amounts will be settled are such that any discounting would be immaterial. ## **q) Going concern** The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis. 52 Fauna & Flora Annual Report & Accounts 2023 53 **Notes to the financial statements** ## **2 Company Status** The company is limited by guarantee, not having share capital, and is also a registered charity; it is not liable to corporation tax. In the event of the charity being wound up, the liability in respect of guarantee is limited to £1 per member of the limited liability company. ## **3a Donations and legacies** |Individuals
Legacies|**2023**
**2022**
**£**
**£**
3,941,924
5,668,418
488,377
601,962
**4,430,301**
**6,270,380**| |---|---| ## **5 Employee information** ## **5a Staff costs** |Wages and salaries
Social security costs
Pension costs|**2023**
**2022**
**£**
**£**
14,252,780
11,574,711
1,528,187
1,161,693
789,466
600,606
**16,570,433**
**13,337,010**| |---|---| Included in the above is £1,795 relating to termination payments in 2023 (2022: £378,672). ## **3b Income** |Income Source
Government & Multilateral
Trusts & Foundations
Corporate
Individuals
Membership
Investment
Other
Total|**2023**
**2022**
**Restricted**
**Unrestricted**
**Endowment**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
11,061,076
-
-
11,061,076
7,400,676
17,104,561
611,259
-
17,715,820
16,066,664
1,971,917
82,272
-
2,054,189
2,347,464
238,054
4,195,931
-
4,433,985
6,272,614
-
502,123
-
502,123
530,188
220,464
618,913
196
839,573
300,823
187,605
5,981
-
193,586
247,264| |---|---| ||**30,783,677**
**6,016,479**
**196**
**36,800,352**
**33,165,693**| ## **4a Expenditure** |**4a Expenditure**||| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Expenditure includes:||| |Auditors' remuneration - audit|65,685|62,958| |Auditors' remuneration - other|87,523|42,976| |Depreciation|220,454|209,256| |Operating leases: land and buildings|235,748|229,526| ## **5b** |The average number of persons, analysed by function, employed
during the year was:
Project management
Fundraising
Administration|**2023**
**2022**
567
455
26
21
35
29
**628**
**505**| |---|---| ## **5c** |**5c**||| |---|---|---| ||**2023**|**2022**| |Employees whose emoluments for the year were £60,000||| |or more are shown in the following bands:||| |£60,001 - £70,000|8|4| |£70,001 - £80,000|3|5| |£80,001 - £90,000|4|3| |£90,001 - £100,000|3|4| |£100,001 - £110,000|4|0| |£120,001 - £130,000|0|1| |£130,001 - £140,000|0|1| |£140,001 - £150,000|3|0| |£450,001 - £460,000|0|1| The pension contributions to pension schemes for the higher paid staff were £126,580 (2022: £87,420). ## **4b Other gains/(losses)** |Other gains/losses includes:
Realised foreign exchange gains/(losses)
Unrealised foreign exchange gains/(losses)
Gains/(losses) on disposal of tangible fxed assets|**2023**
**2022**
**£**
**£**
3,277
32,814
(322,764)
786,844
(19,580)
11,178
(339,067)
830,836| |---|---| The total value of salary and benefits received by key management personnel in 2023 was £943,984 (2022: £1,183,356). The above numbers do not include Trustees who are not permitted to receive remuneration for their duties unless formal approval has been received from the Charity Commission. In 2023, £19,214 (2022: £6,629) was reimbursed to, or paid on behalf of Trustees in respect of travel and subsistence during the year. 54 Fauna & Flora Annual Report & Accounts 2023 55 **Notes to the financial statements** ## **6a Analysis of Total Expenditure** |**Conservation Programme Area**
Africa
Asia Pacifc
Americas & Caribbean
Eurasia
Cross-cutting Programmes
Other (incl. Foreign exchange (gain)/loss)
**Programmatic Activities**
Fundraising costs
Support & administration costs
**Total costs**|**Staf costs**
**Other costs**
**Support costs**
**Total 2023**
**Total 2022**
**£**
**£**
**£**
**£**
**£**
3,212,163
6,318,951
202,583
9,733,697
6,514,457
4,045,921
3,941,820
142,891
8,130,632
6,046,437
1,027,154
1,794,116
182,419
3,003,689
2,315,216
1,299,755
2,223,307
136,514
3,659,576
3,097,775
4,547,571
2,235,044
243,315
7,025,930
6,402,060
-
886,183
-
886,183
(1,396,356)| |---|---| ||**14,132,564**
**17,399,421**
**907,722**
**32,439,707**
**22,979,589**
1,517,914
-
3,069,807
4,587,721
3,161,365
2,933,714
-
1,913,913
4,847,627
4,262,474| ||**18,584,192**
**17,399,421**
**5,891,442**
**41,875,055**
**30,403,428**| The foreign exchange (gain)/loss is the revaluation of monetary assets arising from the organisation operating internationally. Included in Other costs of Programmatic Activities is £7.1m (2022: £6.2m) of funds sub-granted to third parties. ## **6b Analysis of Support Costs** |Ofce rent & services
Equipment Acquisition & Maintenance
Grants
Conference attendance & event costs
Printing, publications and media costs
Bank charges and interest
Depreciation
IT, telephony & ofce supplies
Travel & Subsistence
Audit, Legal & Professional fees
Other costs
**Total support costs**|**Programme**
**Activities**
**Fundraising**
**costs**
**Operations &**
**Governance**
**costs**
**Total**
**2023**
**Total**
**2022**
**£**
**£**
**£**
**£**
**£**
75,768
-
592,765
668,533
607,534
72,591
91
4,344
77,026
42,800
62,720
-
5,000
67,720
255,455
23,729
113,333
40,475
177,537
110,548
5,323
1,667,344
83,124
1,755,791
1,249,383
30,851
134,285
11,120
176,256
97,999
9,233
7,203
21,113
37,549
77,400
114,187
266,385
383,972
764,544
448,723
213,834
117,403
157,685
488,922
479,908
212,029
728,165
544,193
1,484,387
1,517,261
87,457
35,598
70,122
193,177
76,624| |---|---| ||**907,722**
**3,069,807**
**1,913,913**
**5,891,442**
**4,963,635**| ## **7a Tangible Fixed Assets** (all group fixed assets are attributable to the charity, excluding the land & buildings) |Cost:
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2022
Charge for year
On disposals
At 31 December 2023
Net book value:
At 31 December 2023
At 31 December 2022|**Fixtures &**
**Fittings**
**IT**
**Equipment**
**Land &**
**Buildings**
**Vehicles**
**Total**
**£**
**£**
**£**
**£**
**£**
48,461
93,548
1,192,695
1,086,296
2,421,000
-
-
-
250,250
250,250
-
-
(15,962)
(2,060)
(18,022)| |---|---| ||**48,461**
**93,548**
**1,176,733**
**1,334,486**
**2,653,228**| ||14,110
12,594
958
537,566
565,228
9,473
12,366
532
170,227
192,598
-
-
(1,490)
(584)
(2,074)| ||**23,583**
**24,960**
**-**
**707,209**
**755,752**| ||**24,878**
**68,588**
**1,176,733**
**627,277**
**1,897,476**| ||34,351
80,954
1,191,737
548,730
1,855,772| ## **7b Intangible Fixed Assets** (all group intangible fixed assets are attributable to the charity) |Cost:
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for year
On disposals
At 31 December 2023
Net book value:
At 31 December 2023
At 31 December 2022|**Software**
**Total**
**£**
**£**
568,464
568,464
159,554
159,554
(161,678)
(161,678)| |---|---| ||**566,340**
**566,340**| ||522,751
522,751
27,856
27,856
(157,600)
(157,600)| ||**393,007**
**393,007**| ||**173,333**
**173,333**| ||45,713
45,713| 56 Fauna & Flora Annual Report & Accounts 2023 57 **Notes to the financial statements** ## **8 Fixed Asset Investments** (all group fixed assets are attributable to the charity) |**Movement during the year**
Market value as at 1 January
Net gains/(losses) during the year
Foreign exchange gains/(losses) during the year
Capital invested/(withdrawn) during the year
**Total Investments**
Investments are represented by:
Fixed interest securities & equity shares
Cash deposit funds
Programme related investments
**Total Investments held in the UK**|**2023**
**2022**
**£**
**£**
23,005,425
20,490,551
9,006
(113,318)
(867,927)
2,072,757
(1,214,126)
555,435| |---|---| ||**20,932,378**
**23,005,425**| ||**2023**
**2022**
**£**
**£**
670,668
661,662
15,126,725
16,941,072
5,134,985
5,402,691| ||**20,932,378**
**23,005,425**| The historic cost of investments as at 31 December 2023 was £20,892,437 (2022: £22,943,763). ## **10 Creditors** |Trade creditors
Amounts due to subsidiaries
Tax and social security
Accruals and deferred income
Other creditors
Accruals and deferred income includes the following:
Deferred income at 1st January
Income deferred in year
Amounts released from previous years
Deferred Income at 31st December|**Group**
**Group**
**Charity**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
863,839
298,770
858,057
287,764
-
-
-
664
976,484
790,216
968,176
783,522
6,250,782
792,317
6,240,457
781,836
3,663
5,134
3,663
5,134| |---|---| ||8,094,768
1,886,437
8,070,353
1,858,920| ||**Group**
**Group**
**Charity**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
-
4,790
-
4,790
5,814,857
-
5,814,857
-
-
(4,790)
-
(4,790)| ||5,814,857
-
5,814,857
-| Programme related investments consists of land held in Ecuador and in Belize with the intention of transferring it to a local organisation capable of preserving its conservation value. After the period end programme related investments included in the above totalling £4,375,118 were transferred to a partner for nil consideration. ## **9 Debtors** |Trade debtors
Amounts due from subsidiaries
Prepayments and accrued income|**Group**
**Group**
**Charity**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
3,846,209
2,647,623
3,804,000
2,451,444
-
-
522,250
1,136,730
587,072
960,263
503,857
922,664| |---|---| ||**4,433,281**
**3,607,886**
**4,830,107**
**4,510,838**| ## **11 Provisions (all provisions are attributable to the charity)** |Land taxes payable|**At**
**01/01/2023**
**Provisions**
**created /**
**(released)**
**Provisions**
**utilised**
**At**
**31/12/2023**
**£**
**£**
**£**
**£**
17,686
-
-
17,686| |---|---| ||17,686
-
-
17,686| Provision has been made in a prior year for land tax in Ecuador that may be payable by Fauna & Flora. All the above amounts fall due within one year. 58 Fauna & Flora Annual Report & Accounts 2023 59 **Notes to the financial statements** ## **12 Reconciliation of funds** ||**Balance**
**b/fwd**|**Income**|**Expenditure**|**Other**
**gains/**
**(losses)**|**Movements**
**between**
**funds**|**Balance**
**c/fwd**| |---|---|---|---|---|---|---| ||**£**|**£**|**£**|**£**|**£**|**£**| |**Unrestricted**||||||| |General unrestricted funds|7,246,862|6,016,479|(8,919,643)|(431,192)|1,041,902|4,954,408| |Designated funds|55,545|-|-|-|(276)|55,269| |**Total unrestricted funds**|**7,302,407**|**6,016,479**|**(8,919,643)**|**(431,192)**|**1,041,626**|**5,009,677**| |**Endowment funds**||||||| |Rothiemurchus Bequest Fund|34,059|196|-|(448)|-|33,807| |Whitley Animal Protection Trust|604,610|-|-|6,042|-|610,652| |**Total endowment funds**|**638,669**|**196**|**-**|**5,594**|**-**|**644,459**| |**Restricted funds**||||||| |Africa|3,707,201|5,955,903|(9,532,223)|14,511|2,358,022|2,503,414| |Americas & Caribbean|6,302,956|1,601,286|(2,575,413)|9,203|938,168|6,276,200| |Asia-Pacifc|5,449,171|7,982,086|(8,923,127)|7,020|825,018|5,340,168| |Conservation Capacity and Leadership|2,353,738|1,972,976|(2,475,431)|829|(37,746)|1,814,366| |Cross-cutting Programmes Development|427,106|102,577|(74,909)|1|-|454,775| |Conservation Science and Design|2,770,545|6,156,615|(3,285,205)|366,364|(4,314,895)|1,693,424| |Climate & Nature Linkages|69,633|20,548|(38,192)|1,528|-|53,517| |Eurasia|2,494,564|3,397,511|(3,389,633)|(8,660)|485,564|2,979,346| |Business & Nature|5,470|1,382,938|(1,215,612)|(1,715)|-|171,081| |People & Nature|3,555|185,657|(161,057)|-|-|28,155| |Regional Programmes Development|-|1,500,000|(398,427)|-|(981,208)|120,365| |Other (incl Foreign Exchange) Revaluation|2,096,115|525,580|(886,183)|(293,544)|(314,549)|1,127,419| |**Total restricted funds**|**25,680,054**|**30,783,677**|**(32,955,412)**|**95,537**|**(1,041,626)**|**22,562,230**| |**Total Funds**|**33,621,130**|**36,800,352**|**(41,875,055)**|**(330,061)**|**-**|**28,216,366**| The Rothiemurchus bequest stipulates that the Charity should: i. Hold the bequest and pay or apply part of the income thereof each year in assisting not more than one conservation project consistent with the aims of the Charity ii. Accumulate for as long as possible at least one quarter of the income, which should be added to the capital of the bequest. The Whitley Animal Protection Trust M.G.P Fund represents a capital donation from the Whitley Animal Protection Trust, which stipulated that the capital should be invested and the income used for the protection of the mountain gorilla. Provision is made to maintain the relative value of the capital and to provide regular guaranteed income for the IGCP. The restricted funds of the charity comprise unexpended balances on income given to specific purposes. In accordance with Fauna & Flora’s income recognition policy as outlined in Note 1 to the accounts, restricted funds in deficit have arisen where Fauna & Flora is not sufficiently entitled to recognise income against ongoing work that is funded in arrears. Transfers & Other gains and losses includes internal grants transferred from our Halcyon Land & Sea, Species and other internal portfolio funds to field based projects. Included in the above are amounts for grants received from Fondation Segré (2023: £144,453, 2022: £176,868), the Endangered Landscapes Programme (2023: £435,737, 2022: £362,269), and Defra, UK Government: Darwin Initiative (2023: £3,684,626, 2022: £2,009,027), Darwin Plus (2023: £202,319, 2022: £146,817), Illegal Wildlife Trade Challenge Fund (2023: £309,776, 2022: £609,630), and income received of £nil and expenditure of £13,115 in relation to the Biodiverse Landscapes Fund (BLF). ## **13 Analysis of Net Assets between Funds** |**4 Operating Lease Commitments**
Annual commitments are as follows:
Land and buildings:
Not later than one year
Later than one year and not later than fve years
Later than fve years
Other operating leases:
Not later than one year
Later than one year and not later than fve years
Later than fve years
Tangible Fixed Assets
Intangible Fixed Assets
Investments
Net current assets
Provisions|**General**
**Unrestricted**
**Funds**
**Designated**
**Funds**
**£**
**£**
93,466
-
173,333
-
5,066,149
-
(360,854)
55,269
(17,686)
-|**Restricted**
**Funds**
**Endowment**
**Funds**
**£**
**£**
1,804,010

-

15,221,770
644,459
5,536,450

-
|
**Total**
**£**
-
1,897,476
-
173,333

20,932,378
-
5,230,865
-
(17,686)| |---|---|---|---| ||4,954,408
55,269|22,562,230
644,459|
28,216,366| |||**2023**
**£**
217,804
142,609
-
360,413
73,520
62,811
-
136,331|**2022**
**£**
208,471
267,858
-| ||||476,329| ||||71,874
122,960
-| ||||194,834| ## **14 Operating Lease Commitments** ## **15 Related Party Transactions and Ultimate Controlling Party** The company is under the control of the Board of Trustees. There is no ultimate controlling party. Fauna & Flora received grant funding from The Marcela Trust. An immediate member of family of one of Fauna & Flora’s Senior Leadership Team (SLT) members and a member of Fauna & Flora’s SLT are Trustees of the Trust. Fauna & Flora provides grant funding to Principe Foundation (São Tomé and Príncipe) and ProPark Foundation (Romania). A member of Fauna & Flora’s SLT is also a director of each of these organisations. Fauna & Flora also provides grants to The Mount Kenya Trust which has a mutual Trustee. Fauna & Flora provides grant funding to Chuilexi Conservação e Investimentos Limitada and Luambeze Investimentos Limitada, both of which are subsidiaries of Fauna & Flora. Refer to note 21 for details of Fauna & Flora’s subsidiaries and jointly controlled operations. Fauna & Flora has paid and received reimbursement of expenditure from Ol Pejeta Ranching Ltd and ProPark Foundation. A member of Fauna & Flora’s SLT is also a director of these organisations. Fauna & Flora pays licence fees to OMC Investments Ltd in relation to Fauna & Flora’s London office. An immediate member of family of one of Fauna & Flora’s SLT members is a director of OMC Investments Ltd. The licence agreement terms are equivalent to those that prevail in arm’s length transactions and the licence fees paid are at open market rates. 60 Fauna & Flora Annual Report & Accounts 2023 61 **Notes to the financial statements** ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |**Grants received from related parties**||| |The Marcela Trust|430,000|150,000| |**Grants made to related parties**||| |Chuilexi Conservação Investimentos Limitada|1,143,042|1,192,285| |Luambeze Investimentos Limitada|331,207|236,447| |Príncipe Foundation|295,903|133,879| |ProPark Foundation|-|1,000| |The Mount Kenya Trust|114,214|-| |**Donations received from**||| |Trustees & Related parties|74,503|74,770| |**Reimbursement of expenditure from related parties**||| |ProPark Foundation|416|-| |**Lease & service fees**||| |OMC Investments Ltd|51,300|52,741| |**Amounts owing from subsidiary undertakings**||| |Fauna & Flora International Australia|18,316|(664)| |Fauna & Flora International South Africa|36,572|41,544| |Fauna & Flora International USA Inc|467,362|1,095,186| ## **16 Cash Flow Information** |a) Reconciliations of changes in resources to net infow from
operating activities
Net incoming resources
Depreciation charge
(Gain)/loss on disposal of tangible and intangible fxed assets
Investment income (shown separately in (b) below)
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Change in fxed asset investments valuation
Unrealised foreign exchange gains/(losses) on non-monetary assets
Unrealised foreign exchange gains/(losses) on monetary assets
Net cash infow/(outfow) from operating activities
a) Gross cash fows
_Returns on investment and servicing of fnance:_
Investment income received
_Capital expenditure and fnancial investment:_
Payment to acquire tangible and intangible fxed assets
Payments to acquire fxed asset investments|**Group**
**Group**
**Charity**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
(5,404,764)
3,479,781
(4,761,966)
3,968,665
220,454
209,255
215,127
206,401
19,580
-
19,580
-
(839,573)
(300,823)
(833,878)
(297,756)
(825,393)
(1,064,301)
(319,269)
(2,302,476)
6,208,331
289,002
6,211,433
279,899
(9,006)
90,799
(9,006)
90,799
268,149
(650,193)
268,149
(511,898)
778,749
(1,852,516)
674,716
(1,852,516)| |---|---| ||416,527
201,004
1,464,886
(418,882)
839,573
300,823
833,878
297,756| ||(409,804)
(433,220)
(388,634)
(433,220)
-
(430,014)
-
(430,014)| ||(409,804)
(863,234)
(388,634)
(863,234)| ## **17 Summary income and expenditure account for the year ending 31 December 2023** ||**All income funds**|**All income funds**| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Income|35,960,779|32,864,870| |Gains/(losses) on investments|-|-| |Interest and investment income|839,377|300,602| |**Gross income in the reporting period**|**36,800,156**|**33,165,472**| |Expenditure|41,990,256|29,390,212| |Interest payable|-|-| |Depreciation and charges for impairment of fxed assets|220,454|209,256| |**Total expenditure in the reporting period**|**42,210,710**|**29,599,468**| |Net income (expenditure) before tax for the reporting period|(5,410,554)|3,566,004| |Tax payable|-|-| |**Net income (expenditure) for the fnancial year**|**(5,410,554)**|**3,566,004**| The summary income and expenditure account is a Companies Act and FRS102 requirement and is derived from the corresponding figures in the SOFA with the exclusion of endowment funds. ## **18 Charity Statement of Financial Activities** |**Income and endowments from:**
Donations and legacies
Charitable Activities
Investments
Other Trading Activities
Other
**Total**
**Expenditure on:**
Raising funds
Charitable Activities
**Total**
Net gains/(losses) on investments
**Net income/(expenditure)**
Transfers between funds
Other gains/(losses)
**Net movement in Funds**
Total funds brought forward
**Total funds carried forward**|**2023**
**2022**
**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
3,884,091
206,640
-
4,090,731
5,826,407
757,903
30,447,117
-
31,205,020
26,626,417
613,218
220,464
196
833,878
297,756
3,264
420
-
3,684
2,234
5,981
187,346
-
193,327
229,897| |---|---| ||**5,264,457**
**31,061,987**
**196**
**36,326,640**
**32,982,711**| ||3,935,730
-
-
3,935,730
2,722,807
4,096,405
32,762,291
-
36,858,696
26,847,772| ||**8,032,135**
**32,762,291**
**-**
**40,794,426**
**29,570,579**| ||3,412
-
5,594
9,006
(90,799)| ||**(2,764,266)**
**(1,700,304)**
**5,790**
**(4,458,780)**
**3,321,333**
1,041,626
(1,053,837)
-
(12,211)
(29,891)
(398,643)
107,668
-
(290,975)
677,223| ||**(2,121,283)**
**(2,646,473)**
**5,790**
**(4,761,966)**
**3,968,665**
5,152,422
25,434,850
638,668
31,225,940
27,257,275| ||**3,031,139**
**22,788,377**
**644,458**
**26,463,974**
**31,225,940**| 62 Fauna & Flora Annual Report & Accounts 2023 63 **Notes to the financial statements** ## **19 Prior Year Reconciliation of Funds Statement** |||||**Other**|**Movements**|| |---|---|---|---|---|---|---| ||**Balance**|||**gains/**|**between**|**Balance**| ||**b/fwd**|**Income**|**Expenditure**|**(losses)**|**funds**|**c/fwd**| ||**£**|**£**|**£**|**£**|**£**|**£**| |**Unrestricted**||||||| |General unrestricted funds|7,765,576|5,253,011|(6,670,709)|142,602|756,382|7,246,862| |Designated funds|56,502|-|-|-|(957)|55,545| |**Total unrestricted funds**|**7,822,078**|**5,253,011**|**(6,670,709)**|**142,602**|**755,425**|**7,302,407**| |**Endowment funds**||||||| |Rothiemurchus Bequest Fund|37,993|221|-|(4,155)|-|34,059| |Whitley Animal Protection Trust|686,897|-|-|(82,287)|-|604,610| |**Total endowment funds**|**724,890**|**221**|-|**(86,442)**|-|**638,669**| |**Restricted funds**||||||| |Africa|4,046,491|3,362,897|(6,190,034)|(55,347)|2,543,194|3,707,201| |Americas & Caribbean|6,282,891|1,420,098|(2,039,134)|(9,502)|648,603|6,302,956| |Asia-Pacifc|4,392,089|6,557,986|(6,567,573)|1,308|1,065,361|5,449,171| |Conservation Capacity and Leadership|1,917,110|3,089,150|(2,630,740)|(2,294)|(19,488)|2,353,738| |Cross-cutting Programmes Development|419,148|79,941|(71,647)|(336)|-|427,106| |Conservation Science and Design|2,184,724|7,703,614|(3,114,266)|1,964|(4,005,491)|2,770,545| |Climate & Nature Linkages|162,189|33,178|(112,781)|(12,953)|-|69,633| |Eurasia|2,407,092|2,404,916|(2,734,801)|15,697|401,660|2,494,564| |Business & Nature|205,076|1,231,735|(1,447,528)|384|15,803|5,470| |People & Nature|56,413|72,787|(125,640)|(5)|-|3,555| |Regional Programmes Development|-|1,500,000|(94,933)|-|(1,405,067)|-| |Other (incl Foreign Exchange) Revaluation|(478,844)|456,159|1,396,358|722,442|-|2,096,115| |**Total restricted funds**|**21,594,379**|**27,912,461**|**(23,732,719)**|**661,358**|**(755,425)**|**25,680,054**| |**Total Funds**|**30,141,347**|**33,165,693**|**(30,403,428)**|**717,518**|**-**|**33,621,130**| ## **20 Prior Year Funds Analysis Statement** ||**General**
**Unrestricted Funds**|**Designated**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**Total**| |---|---|---|---|---|---| ||**£**|**£**|**£**|**£**|**£**| |Tangible Fixed Assets|115,305|-|1,740,467|-|1,855,772| |Intangible Assets|45,713|-|-|-|45,713| |Investments|4,821,104|-|17,545,652|638,669|23,005,425| |Net current assets|2,282,426|55,545|6,393,935|-|8,731,906| |Provisions|(17,686)|-|-|-|(17,686)| ||7,246,862|55,545|25,680,054|638,669|33,621,130| ## **21 Subsidiaries and Jointly Controlled Operations** Fauna & Flora has five wholly owned subsidiary undertakings. One registered in Australia, one registered in Belize, one registered in Romania, one registered in South Africa and one registered in the USA. Fauna & Flora holds a 75% controlling interest in Luambeze Investimentos Limitada (Luambeze), a limited liability company registered in Mozambique. The minority interest in this company is immaterial to the Group, so it has not been adjusted for in the consolidated accounts. Fauna & Flora holds a 55% controlling interest in Chuilexi Conservação e Investimentos Limitada (Chuilexi), a limited liability company registered in Mozambique. The minority interest in this company is immaterial to the Group, so it has not been adjusted for in the consolidated accounts. ||**Fauna & Flora**|**Fauna & FIora**|**Fauna & Flora**|**Fauna & Flora**|**Boden Creek**|**Boden Creek**|**Chuilexi**|**Luambeze**| |---|---|---|---|---|---|---|---|---| ||**International**|**International**|**International**|**International**|**Land and**||**Conservação e**|**Investment,**| |Entity|**Australia (Ltd)**|**USA Inc.**|**(South Africa)**|**S.R.L**|**Cattle Ltd**||**Investimentos**|**Limitada**| |Country of|Australia|USA|South Africa|Romania|Belize||Mozambique|Mozambique| |Registration||||||||| |Registration No.|ABN:|||||||| ||75 132 715 783
CAN:|81-3967095|2014/099386
/08|33448761|17633||100321041|100014343| ||132715783|||||||| |Registered
Address|c/o Purpose
Accounting,
583 Elizabeth
Street, Redfern
NSW 2016|c/o Corporation
Trust Centre,
1209 Orange
St, Wilmington,
New Castle
County,
Delaware
USA|43 Fish Eagle
Place, Fish
Eagle Place,
Kommetjie,
7975, South
Africa|STR. 1
Decembrie
Nr. 14 330025
Deva, Romania|c/o Reyes
Retreage LLP &
Loyal Ofshore
Ltd, 122 Eve
Street, P.O. Box
2205, Belize
City, Belize||c/o MozConsult Rua Beijo da
Mulata nº 188, Sommerschield
II, Maputo, Moçambique|| |Percentage
Ownership / Control|100%|100%|100%|100%|100%||55%|75%| ||**£**|**£**|**£**|**£**||**£**|**£**|**£**| |Total Income|123,002|
1,034,016|3,310|291,141||-|
-|-| |Costs|(117,297)|
(1,555,518)|(1,279)|(345,349)||-|
(1,031,561)|(402,944)| |Net gains/(losses)||||||||| |on investments|-|
-|-|-||-|
-|-| |Other gains/(losses)|(8,539)|
(45,908)|(745)|-||-|
-|-| |Surplus / (defcit)
for the year|(2,834)|
(567,410)|1,286|(54,208)||-|
(1,031,561)|(402,944)| |Retained surplus
brought forward|168,355|
927,778|6,376|1,295,196|
3,746,023||
(4,555,765)|(2,264,200)| |Retained surplus
carried forward|165,521|360,368|7,662|1,240,988|3,746,023||(5,587,326)|(2,667,144)| |Gross assets at 31
December 2023|186,606|847,363|44,234|1,243,006|3,746,023||665,170|422,549| |Gross liabilities at
31 December 2023|(21,085)|(486,995)|(36,572)|(2,018)||-|(6,252,250)|(3,089,693)| |Reserves at 31
December 2023|165,521|360,368|7,662|1,240,988|3,746,023||(5,587,080)|(2,667,144)| The Caribbean Alliance is a jointly controlled operation between Fauna & Flora and Re:Wild. The jointly controlled operation was created in 2021. The net expenditure of £58,348 (2022: £55,019) shown in the Statement of Financial Activities represents Fauna & Flora’s share of the net expenditure of the jointly controlled operation for 2023. 64 Fauna & Flora Annual Report & Accounts 2023 65 **----- Start of picture text -----**
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**www.fauna-flora.org** **Fauna & Flora International The David Attenborough Building, Pembroke Street, Cambridge, CB2 3QZ, United Kingdom Tel: +44 (0)1223 571000 Email: info@fauna-flora.org** Registered Charity Number 1011102. A Company Limited by Guarantee in England & Wales, Number 2677068 **Fauna & Flora International USA Inc. One Thomas Circle NW, Suite 700, Washington, DC 20005 USA ffiusa@fauna-flora.org** A registered 501(c) (3) non-profit organization; EIN #81-3967095 **Fauna & Flora International Australia c/o Purpose Accounting 583 Elizabeth St, Redfern, NSW 2016 Australia ffiaustralia@fauna-flora.org** Registered as a charity with the Australian Charities and Not-for-Profits Commission, Australian Business Number (ABN) 75 132 715 783