CharSty registratlon numbor 1115350 Company r8gl$tratlon number 04929906 (England and Wales) ENDANGERED ASIAN SPECIES TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
ENDANGERED ASIAN SPECIES TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru8tse8 Mr B Glazler Professor Dr J Pel DrA L Cronin MBE Charlty number 1115350 Company number 04929906 Prlnclpal addre88 Longlhorns Wareham Dors8t BH20 6HH R?gl•tsred offlce Sta9 Gates House 63164 The Avenue Southampton Hampshire S017 1XS Indepondont examlnor Fiander Tovell Llmited Stag Gales House 63164 The Avenue Southampton Hampshire S017 1XS
ENDANGERED ASIAN SPECIES TRUST CONTENTS Page Trusle8s' report 1- 13 Independent examinels report 14 Statement of financial activitles 15 Balance sheet 18 Notes to the flnanclal statements 17-25
ENDANGERED ASIAN SPECIES TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 29 FEBRUARY 2024 The Trustees present their annual report and financial statements for the year ended 29 Febwary 2024. The financial statements have been prepared In accordance with the accounting policies set OLrt in note 1 to the financial statements and comply with the charitable company's governing documenl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK aThl Republic of Ireland {FRS 102) (effective 1 January 20191" Objectives and actlvltlos The charitabl8 company's objectives as stal8d in its Memorandum of Assoclation are: To promote the consejvation of endangered Asian speciés., and To advance the education aboul, and research into endangered Asian species. The Truste88 have paid due regard to guidance issued by the Charity Commission In declding whal activitl8S the charitable company should undertake. The Endangered Asian Spe¢ies Trust provld8s a range of servic8s In Vlelnam lo rescue, rehabilitate and release primates back Into the wild. Endangared Asian Species Trust also carri8S Out wildlife surveys and generally educates the publlc and raises awareness both in Vietnam and internationally. Achlevemonts and perfornianc• See pages 3- 13. Flnan¢lal revlow The stalamenl of financlal activities 18 set out on page 15 and shows the results of the activities carried out during the period. Income during the period was £216.602 {2023.' £128,672), of whlch £34,877 was reslricled (2023.. £nil). The total expenditur8 during the period was £160.282 (2023.. £145,029). This resulted in a net unreslricled surplus of £21,443 {2023.' £18,357 deficit) and a restricted surplus of £34.877 {2023'. £nill. The total reserves of the charity al 29 February 2024 were £88,105 {2023'. £31,785). It Is the policy of Ihe charitable company that unrestricted funds which have not been designated for a specific use should be maintained at a level aquivalenl to belween three and six months, expenditure. The Trustees consider that re3erves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charilable company's current activities while consideration is given lo ways in whith additional funds may be raised. Thls level of reserves has been maintained throughout the year. The Trustees have assessed the major risks to whlch the charitable company is exposed, and are sallsfied that systems are in pla to mitigate exposure to the major risks. Structure, governance and management The Endangered Asian Species Trust (EAST) was incorporated as a Company Limited by Guarantee on 13 October 2003, as amended by special resolullon on 28 June 2006. It has no share capital and is a registered charity, the guarantee of each member being limited to £1. The governing document is the Memorandum and Articles ofAssocialion ofthe company daled 28 June 2006 and the members ofthe Board ofTrustees are the Directors of the company, for the purpose of company law. The rules regarding the number of directors and their appointment, reappointment and removal are contained in the Articles of Association to which referen should be made.
ENDANGERED ASIAN SPECIES TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT> (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 The Trustees, who are also the dire¢tors for Ihe purpose of company law. and who served during the year and up to the date of signature of the financial statements were.. Mr B Glazier Professor Dr J Pei DrA L Cronin MBE Trustees are appoinled by the existing irustees to fill a vacancy as required and in accordance with the Articles of Association. Trustee training is offered as required In order for trustees to carry out thelr duties. st es, was approved by the Board of Trustees. L Cronin MBE Trusts0 Dated: .....
Endangered Asian Species Trust Trustees Report February 2023 to February 2024 Purpose of the charity and main activities, including any aims of the charity The Endangered Asian Species Trust works to help stop the illegal trade in primates, with a specific focus on South Vietnam. In South Vietnam the Dao Tien Endangered Primate Species Centre founded in 2008 continues to work in collaboration with the Ministry of Agricultu and Rural Development of Vietnam in the rescue, rehabilitation and release of endangered primates, naturally occurring in South Vietnam. Running alongside the animal welfare is a strong education awareness program; working in schools, local communities and internationally. A primary aim is to develop successful release protocols for confiscated pygmy loris (Xanihonyciicebis pygmaeus), Black-shanked douc (Pygaihrix nigripes), Annamese silvered langurs (Trachopiiyhecus margarila) and golden-cheeked gibbons (Nomascus gabriellae). These will be achieved by working closely with the Vietnarnese Government to confiscate endangered primate from the illegal wildlife trade, then on the 56 hectare island of Dao Tien rehabilitat¢ in preparation for managed release. Following IUCNC guidelines, released individuals are monitored post-release using telemetry tracking in order to evaluate how well the primates adjust to the wild (general health, feeding, locomotion, territory use and social behaviour). If they do not adjust, intervention is possible and they would return to the centre. With each release, we continue learning until successful protocols are achieved which can then be shared Nationally & Internationally. Xanthonye¢lcebus & Nycticebus summary of the maln achlevemenls In theyear Xanlhonyctlcebus Rescue.. EAST has continued to work in close collaboration with the Forestry Protection Department (FPD) of Vietnam to receive pygmy loris confiscated from the illegal wildlife trade in South Vietnam, with over 15 individuals in the last year. Through this. East have identified that there has been an increase in individuals rescued from fruit gardens (figure l). Routine hair samples have been collected for DNA, which has supported research in establishing the two species of pygmy loris in Vietnam. (Blair, M. E., Cao, G. T., Lopez- Nandam, E. H., Veronese-Paniagua, D. A., Birchette, M. G., Kenyon, M., ... & Le, M. D. (2023). Molecular phylogentic relationships and unveiling novel genetic diversity among slow and pygmy lorises, inlcuding resurrection of Xanthonycticebus interniedius. Genes, 14(3), Figure l. Rescuedpygmy loris 643).
So far only one individual has been confirn]ed as the northern species, with plans being made for release in the correct geographical range next year. Xanthonyctlcebus Rehabilitation: Rehabilitation protocols are established for rescued pygmy loris, captive born or rescued from the illegal trade. Until now we have not had a long tem) pet protocol for rehabilitation to successful release. In the last year. a successful release of ex-pet pygmy loris was achieved. after three years of rehabilitation. Publication of "Summary of pygmy loris rescue and care protocols developed on Dao Tien" Kenyon, M., Phoung, N. T., Binh, V. T., & Cronin, A. (2023). The development of care protocols for pygmy lorises (Xanthonycticebus pygmaeus) from 2008 to 2023 at the Dao Tien Endangered Primate Species Centre, Cat Tien National ParK Vietnam. Vielnamese Journal ofPrimaIolo, 3(4), 37-49). Xanthonycilcebus Release: Based on managed release protocol, individuals are successfully released into the newly protected southern region of Cat Tien National Park, following strict protocols. One individual was monitored using VHF collar, to confirni if highly humanised pygmy loris can be successfully rehabilitated and released. The male was successfully monitored for 7 months post-release. Nyciicebus bengalensls Rescue & Rehabilllatlon: No Bengal slow loris were rescued, however two infants were successfully born at the centre (figure 2). Genotype mapping is still ongoing in Gennany, to better understand the geographical distribution of potential Bengal slow loris species within the present geographical range. Figure 2. Juvenile Bengal slow loris corn on Dao Tien
Xanlhonycticebus & Nyclicebus Educalion awareness & Communlly Engagemenl: A questionnaire survey (figure 3) was carried out in the buffer zone of Cat Tien National Park, with 50 cashew fam)ers (25 in ethnic Ma & Steing village and 25 in Kinh village). We gained a better understanding of the management practices in cashew, specifically chemical use and the observations of pygmy loris. It was established chemicals are rarely used in cashew and knowledge on pygmy loris behaviour is strong, with benefits of having pygmy loris in your cashew understood. Figure 3. Cashewfamily queslionnaire "wildlife in harniony" presentation was given in four schools in the two communities (>IOOO students), followed by the launch of an art competition. With over 100 entries ranging from 6 years to 14 years, four winners were selected & 20 runners up (figure 4 & 5). The winning artwork was made into a postcard for sale on Dao Tien and also for the local community to sell and generate their own funds (figure 6). CiiOI' thi tac , Iklie thual ve don Figure 4 & 5. Arl coinpe¢ilion winners and enlries on display
Figure 6. Overall arl competition winner 2023 Following on from this, in each village a fornial debate was carried out. To generate a more interactive debate, loris costumes were used to replicate the good loris (that helps the farmer) and the bad loris (that is dangerous and harnis the crop) (figure 7). This created a more theatrical display and a more relaxed workshop with more people willing to interact. The debate was followed on by a talk from Dao Tién staff on pygmy loris in captivity and in the wild. Ek 11 I IAI Figure 7, Bad loris in the debate
Once the debate was concluded, a children's primate festival took place. Nine different fun games were established, all replicating a unique ecological feature of the specific primates" to share knowledge in a fun way (figure 8,9,10 & 1 l). Both children and adults participated (>500) in the activities, with prizes won. The activities were carried out by Dao Tien staff and local Vietnamese volunteers (figure 12). Figure 8, 9, Jo & 11 feslival aclivities Ir •lAi• Figure J2. Dao Tien slaffand volunteers
Five hundred EAST 2024 calendars were distributed to Foresty Protection Department and the local community, following on from a talk on primate conservation and the work of dao Tien. The calendars displayed beautiful photos of rescued endangered primates and inforniation on their protection and rehabilitation on Dao Tien (figure 13 & 14). i.i(.'Il ?11?4 Figure 13. School ialk. Figure J4. EAST calendar 2024 PygathrLK & Trahyyop¢hecus spp. summary of the main achlevemenls In lhe year Pygathrix & Trahyyoplhecus Rescue: One infant black-shanked douc (Pygaihrix nigripes) was resclied. The young female was seriously ill on arrival and did not survive the night. One Indochinese silvered langur (Trachwpilhecus germainin) arrived from Hon Me, for rehabilitation with other langurs. Full health checks and DNA testing carried out (figure 15 & 16). A second infant was confiscated from Lam Dong province. 'ItHu'¢LIU H¢$ •¢Nts VA7 HOANG DA HON ME Figure 15. Colleclion of infant malefrom Hone Me Rescue Cents'e. Figure 16. Rehabilitation in the Irees with another langur.
Pygathrlx & Trahyopilhecus Rehabllilalion.. The specialist emergency care house for dou and silvered langurs was completed (figure 17). in addition to 6 inside cages and one large outside cage. The house has a full kitchen, tunnels to connect bedrooms, insulated roof to keep cool and blinds and heat lamps to keep warn] in the cold season. The house is mosquito and snake proof (figure 18). The first individuals in the house are silvered langurs. The high connectivity of the house enables introductions of newly rescued langurs to older individuals. 'F ** i" Figure 17. New silvered langur and douc einergency care hoiise
The emergency care house has access from the outside but also safe access (snake and mosquito proofj from the onsite staff accommodation, enabling good access around the clock, but especially through the night for infant care Fi(re 18. Blinds io keep warmth in al night, mosqui¢0 mesh and a covered walkwayfrom onsile s¢affaccommodalion. PygathrLr & Trahyopilhecus Release.. In January Lotek Lite telemetry collars were ordered for an adult black-shanked douc, scheduled for lease June 2024. Investigations into release sites were undertaken aliead of this. Pygailirlx & Trahyoplihecus Educallon awareness., In August 2023 a workshop took place in Cat Tien National Park (figure 19) with delegates from Ministry of Agriculture, Forestry Protection Department and NGO'S which reviewed the work of the last year and highlighting the importance of Rapid Rescue, especially in the case of black-shanked douc. A campaign for 2024 was outlined to provide emergency care materials and contact details for rapid rescue throughout the FPD of South Vietnam (figure 20). RAPID DOUC TRANSFER QApTfv C4T TIE 114:11.1:_ Figure 19. Dao Tien workshop. Figure 20. Rapid rescue logo
Nomascus gabriellae summary of the main achievements in theyear Nomascus gabriellae Res¢He.' at full capacity no gibbons have been rescued. A family of five gibbons are in final preparation for release in 2024. In November 2023 a meeting with government and Forestry Protection Department was held to discuss the detail for exit- strategies on individuals not fit for release (figure 21). An evaluation of individuals held by Dao Tien were presented. with detailed criteria outlined (disease and behavioural) demonstrating Nomascus gabriellae gibbons unsuitability for release into continuous forest (figure 22). 14 Figure 21. November 23 workshop on gibbon exit stralegies. Figure 22. Unsuilabililyfor release criteria Nomascus gabriellae Rehabililalion.. Gibbons were continued to be rehabilitated in forested enclosures, in preparation for release in 2024 of all the gibbons that have been rehabilitated,. The length of time in the illegal trade, in the cage and time in forested enclosure was evaluated (figure 23).
nrer Figure 23. Backgroundfor Golden-cheeked gibbons meeting release criteria. Nomascus gabrlellae Release.. Telemetry collars order for scheduled release of a family of 5 golden-cheeked gibbons in 2024. Nomascus gabriellae Educailon awareness.. Reopening guided educational tours on Dao Tien after 5 years closure (figure 24 & 25). The tour receives Vietnamese and International visitors including many school and Government Officials. ¥Li. Figure 24 & 25. Dao Tien guided educalional tour re-opened.
The significance ofany volunleers.. On Dao Tien we have one International volunteer and 12 Victnamese volunteers to assist in community engagement. The Vietnamese volunteers created a huge positive impact on the children's activities, especially as the event was run twice. On the second occasion the volunteers fully understood the mission and were fully committed to achieve the overall goal. Significanl posilive and negailvefaclors Ihal affecled Ihe achievemenl of objectives and howfuture plans affected Delay in telemetry collar production due to unprecedented demand, postponed douc and gibbon releases, until later in 2024. Many National visitors to Dao Tien are disappointed as they cannot get close or touch the primates. More investment needed in educational activities. Black-shanked douc infants confiscated, still not being rapidly transferred and becoming sick before arrival on Dao Tien. No progress on policy change for exit-strategies for non-releasable gibbons. Summary offulure plans Includlng alms and objecllve acilvllles planned lo achleve ihem Single male black-shanked douc release June 2024. Investigation into release site and a series of health checks planned for release candidate. GPSliridium collar ordered for post-release monitoring. Family group of golden-cheeked gibbons to be released 2024 Investigation into release site, evaluating presence or absence of wild gibbons, habitat quality and protection effectivity GPSliridium collared for post-release monitoring ordered. Final printing and distribution of endangered primate ecology and emergency care posters to FPD in South Vietnam, focussing on known hotspots for illegal trade and rescue. Posters designed based on data gained from the work on Dao Tien and peers. Improvement of guided tours on Dao Tien, a focus on more interactive engagement in the education area. Greater investment in engagement activities on Dao Tien. Rapid Rescue campaign, focussing initially on black-shanked dou¢. Increased awareness with Confiscation authorities (police and FPD). Increased awareness in the community on the illegality of eating douc meat. Continuation of the loris in the buffer zone questionnaires. In 2024 focussing on fruit gardens instead of cashew. As cashew is being cut for Durian. An understanding of what this means for pygmy loris living in the buffer zone is needed. Family festival and debate planned Nov 24. for pygmy loris living in hannony in the buffer zone. Investigation into Loris release sites and managed protocol use. Release site survey for northern Vietnamese and Bengal slow loris Greater collaboration with FPD in hotspots of southern pygmy loris rescue and release. Vung Tau identified. Further discussion with the government on policy interpretation for gibbon exit- strategies o Meetings in Hanoi planned 2024.
ENDANGEREDASIAN SPECIES TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ENDANGERED ASIAN SPECIES TRUST I report to the Trustees on my examination of Ihe financial statements of Endangered Asian Specles Trust (the charitable company) for the year ended 29 Febnjary 2024, which are set out on pag8s 15 to 25. Re¥pon$lbllltles and ba818 of report As the Trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 {th8 2006 Act). Having satisfied myself that the financial statements of the charitable )rnpany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all th8 appllcable Direction8 given by the Charity Commission under se¢llon 145(5)(b> of the 2011 Act. Indopendent examlner'8 statement I have completed my examination. I confirm that no matt8rs have come to my attention In connection with the examination giving me cause to believe that in any material respect.. accountlng records were not kept In respect of the charitable company as required by section 388 crf the 2006 Act., or the financial 8tatem8nls do not accord with those records., or the financial statements do nol comply with the accounllng requirements of sectlon 396 of the 2006 Act other than any requirement Ihat the accounts glve a true and fair vlew whl¢h18 nol a matter considered as part of an independent examlnatlon., or th8 financial slalements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo Charities preparing their account8 in accordance wllh Ihe Flnanclal Reporting Slandard applicable In the UK ar(1 Republi¢ of Ireland (FRS 102). I have no ¢oncern8 and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order lo enable a proper understanding of the financial statements to be reached. .,fv /iaLL, . Flander Tovall Llmlted Stag Gates Hou$e 83164 The Avenue Southampton Hampshire S017 1XS Dated: 14-
ENDANGERED ASIAN SPECIES TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 29 FEBRUARY 2024 Unrestrlctod funds 2024 Re8tr1cted fund8 2024 Totsl Unre8trl¢ted fund8 2023 2024 Not08 Income from: Donations and legacies Charitable activilies 137,433 44,292 34,877 172,310 44,292 101,623 27,049 Total Income 181,725 34,877 216,602 128,672 Charitable actlvitie8 160,282 160,282 145,029 Net Incomollexpondlturn) and movement In fund8 21,443 34,877 56,320 (16,357) Reeonclllotlon of fund8: Fund balances at 1 March 2023 31,785 31,785 48,142 Fund balan¢e8 at 29 February 2024 53,228 34,877 88,105 31,785 The stalemenl of finandal activities includes all galns and losses r8cognlsed In the year. All income and 8xpendlture derive from contlnuing activities. The statement of flnancAal activltles also complies with the requlrements for an income and expenditure account under the Compani88 Act 2006. 15-
ENDANGEREDASIAN SPECIES TRUST BALANCE SHEET AS AT 29 FEBRUARY 2024 2024 2023 Note8 Flxed assets Tangible assets 9,498 5,827 Current assets Stocks Debtor8 Cash at bank and in hand 45,227 6,741 31,370 23.972 94 14,983 10 83,338 39,049 Credltor8: amounts falllng due wlthln ong year 11 (4,731) (13,091) Net current assets 78,607 25,958 Total a880ts le88 curront Ilabllltles 88,105 31,785 Incomo fund8 Restricted funds Unrestricted funds 13 34,877 53,228 31,785 88,105 31,785 The charitable company is enti118d to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29 February 2024. No member of the company has deposited a notice, pursuant to S8Ctlon 476, requiring an audit of these financial slalemenls. The Trustees acknowledge their responsibility for complylng with the requlrements of the Companies Act 2¢XJ6 with respect lo accountlng records and the preparation of financial statements. These financial statements have been prepared In accordance wlth Ihe provlsions applicable to companies subject to the small compani88 regime. The nts wer approved by the Tru8t8es on .. DrA L Cronin MBE Trustee Company Regl8trdtlon No. 04929906 16-
ENDANGEREDASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountlng pollcle8 Company Informatlon Endangered Asian Specles Trust is a charitable company limited by guarantee incorporated in Englarvj and Wales. The registered office is Stag Gates House, 63164 The Avenue, Southampton, Hampshlre, S017 1XS. 1.1 Accountlng convontlon The financial statements have been prepared in accordance with FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102"), the Companies Act 2006 and 'Accounting Reporting by Charities.. Stslement of Recommended Practlce appllcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102)" (as amended for a¢counting periods commenclng from 1 January 2016). The charitable company Is Public Benefit Entity as defined by FRS 102. The financial statements ar8 prepared In sterling, whl¢h 18 the functional currency of the charitable company. Monetary amounts in these financial statements are rounded lo the nearest £. The finanaal statements have been prepared under the historical cost convention. The principal accounting polleies adopted are set out below. The charitable company has taken advantage of the provlslons In the SORP for charltles applylng FRS 102 update Bulletin 1 not to prepare a Slatemenl of Cash Flows. 1.2 Golng ¢oncern The charity Is rellant upon the continued support of Its prlnclple benefactor, Monkey World. Although Ihere Is no contraclual obligation or commitment further funds have been advanced since the year end that are adeqltate for the charities current requirements. There is no Indl¢ation that funding is likely lo be withdrawn. Thus the Trustees continue to adopt the going concern basis of accounting in preparlng the financial stalemenls. 1.3 Charftable fund8 Unreslri¢led fund8 are available for u88 at the dlscretlon of the Truslees In furtherance of their charitable objectives. Restrlcted funds are subject lo specific conditlons by donors as to how they may be used. 1.4 Income Income is recognised when the charitable company is legally entitled lo11 after any perfomiance conditions have been met, the amounts can be measured reliably, and it is probable that Income wlll be received. Cash donations are recognlsed on recelpt. Other donations are recognised once the charllable company has been notified of the donation. unless performance conditions require deferral of the amounl. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognlsed on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known. and receipi is expected. If the amount is not known, the legacy is treat8d as a contingent asset. Shop and tourism income Is measured at Ihe fair value of the consideration received or re¢eivable and represents amounts receivable for goods and services provided in the normal cours8 of business, net of discounts and olher sales related taxes. 17-
ENDANGERED ASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountlng pollcles (Contlnued) 1.5 Expendlturo Expenditure is recognised when a liability is incurred. All expenditure is accounted for on an accruals basis and has been Classified under the heading that aggregates all costs relaled to the category. Governance Costs indude those costs incurred in the governance of the company's assets and are primarily associated with the constitutional and statutory requirements. Irrecoverable VAT is treated as resources expended in the prlncipal activity that incurred the origlnal VAT. Expenditure is recognised wh8n a liability Is incurred. All expenditure is accounted for on an accruals basis and has been classified under the heading th81 aggregates all costs related to the category. Governance cost8 includ8 those costs incurred in the govemance of the company's assets and are primarily associated with the constitutional and statutory requirements. Irrecoverable VAT18 treated a8 resources expended in the principal activity that Incurred the origlnal VAT. 1.6 Intanglbl• flx•d 488ets other than goodwlll Trade marks are written off in equal instalments over Iheir estimaled usefijl economlc Ilfe of 4 years. Website co8t8 are wrltten off in equal inslalments over their estimated useful economic life of 8 years. 1.7 Tanglble flx•d a88•ts Tangible fixed assets are initlally measured at CO81 and subsequently measured at cost or valuatlon, nel of depreciation and any Impairment losse8. Depreciation Is recognised so as to write off the Cost or valuallon of assets less their residual values over thelr useful lives on the followlng bases.. Land and buildings Plant and machinery 100/0 Stralght line 250/0 Straight line The gain or loss arising on the disposal of an asset is determined as the differenc8 between Ihe sale proceeds and the carrying value of the assel, and is recognised in the slalement of financial a¢tivitie8, 1.8 Impalm)•nt of flxed a880ts At each reporting end dale, the charitable company f6views the carrying amounts of its tangible and intangible assets lo determine whether there is any indicalion that those assets have sufferèd an impairment loss. If any such indication exisls, the recoverable amount of the asset is eslimaled in order to determine the extent of the impairment loss (If any). 1.9 Stocks Stocks are stated at the lower of cost and estlmated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those ovetheads that have been incurred in bringing the stocks to their present location and condition. Cost is calculated by use of the FIFO method. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in Current liabilities. 18-
ENDANGERED ASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Accountlng pollcies (Contlnuedl 1.11 Flnan¢lal Instruments The charitable company has elected to apply the provlsions of Section 11 '8asic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitabl8 company becomes party to the contractual provlslons of the instrument. Flnancial assets and Ilabilllles are offset, with the net amounts presented in the financlal statemenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on 8 net basis or to realise the asset and settle the liability Slmultaneously. Ba8lc financlal a88ets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangemenl constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted al a market rale of Inlerest. Financial assets dassified as receivable wtthin one year are not amortl8ed. Ba81c flnanclal Ilabllltles Basic financial liabllilles, including credllors and bank loans are initially recognised at transactlon price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted al a market rate of Interest. Financial liabilities classified as payable within one year are not amortised. Debt instrument8 are subsequently carrled at amortised cost, uslng ihe effective interest rale method. Trade ¢redilors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from 8uppliers. Amounts payable are classified as current liabilities if paymenl Is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost Using the effective interesl method. Dorneognltlon of flnanclal Ilabllitlo• Financial liabilitles are defecognised when the charltable company's contractual obllg81ions expire or ar8 discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday entitlement 18 recognised in the period in which Ihe employee's services are received. Termination benefits are recognised immediately as an expense when the charitable company 1$ demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retirement beneflts The charity operales a defined conlribution pension scheme. Payment8 to defined contributlon retiTrment benefit schemes are charged as an expense as they fall due. 1.14 Forelgn exchange Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dales of the transactions. Al each reporting end date, monetary assets and liabililies that are denominated in foreign Currencies are relranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net incomel(expenditure for the period). 19-
ENDANGEREDASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Donatlons and legacles Unre8trlcted Re8tricted funds funds Total 2024 Totsl 2023 Donations Adoptions 136,988 445 136.988 35,322 101,460 163 34,877 137,433 34,877 172,310 101,623 Donatlons and legacies In the Current and prior year are all unrestricted. Income from charltabl• actlvltle8 Ro8ear¢h volunteer8 Tourl8rn Income Shop In¢ome Total Total 2024 2023 Sales within charitable acllvlties 5,005 39,287 44,292 27,049 Income from charllable activities in the current and prior year are all unrestricted. -20-
ENDANGEREDASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Charltable activltie8 Charltable •xpendlture 2024 Governance CO8t8 2024 Total 2024 Total 2023 Staff costs Depreciation and impairment Travel & subsistence Clothing & uniform Advertising Postage & stationery Telephone Insurance Charity shop Training course8 Light & heat Cleaning Equipment 8xpens88 Repairs Animal costs Anlmal food Carage Educational costs Exchange & finance ¢harge8 Legal f888 88,325 2,860 13,300 1,142 2,231 363 1,143 587 17.299 885 4,368 127 908 6,423 2,687 7,808 88,325 2,860 13.300 1,142 2,231 363 1,143 587 17,299 885 4,3G8 127 906 6,423 2,687 7,806 66,525 7,072 20,233 248 1,590 1,869 587 11,637 170 3,908 233 2,685 4,923 3,748 6,677 530 5,084 4.368 578 4,342 2,112 (349> 4,342 2,112 {349) 156,558 156,558 141,879 Grant funding of activities Governance costs (note 5) 674 674 3,050 3,050 3,150 157,232 3,050 160,282 145,029 Governance costs 2024 2023 Independent Examination of annual acLounts 3,050 3,150 Tru8ts08 None of the Trustees (or any persons connected with them) reiVed any remuneration or benefits from Ihe charitable company during the currenl or prior year. There were no expenses reimbursed to TnJst8es in either year. 21
ENDANGERED ASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Management Local Vietnamese staff 11 Total 14 11 Employment C08ts 2024 2023 Wage8 and salaries Social security costs Other pension ¢ost8 83,695 3,780 850 63,356 2,800 369 88,325 68,525 There were no employees whos8 annual remuneration was more than £60,000. Tanglble flxed a880ts Land and Plant and bulldlng8 machlnery Total Co8t At 1 March 2023 Additions 225.423 8,531 58,455 283,878 6,531 At 29 February 2024 231,954 58,455 290,409 Depreclatlon and Impalmient At 1 March 2023 Depreciation charged In the year 220,227 2,229 57,824 631 278,051 2,860 At 29 February 2024 222,456 58,455 280,911 Carrylng amount At 29 February 2024 9,498 9,498 At 28 February 2023 5,198 631 5,827 -22-
ENDANGERED ASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 Stocks 2024 2023 Finish8d goods and goods for resale 45,227 23.972 During the year £17,299 (2023.. £11,837) of stock was recognlsed as an expense. 10 Debtorn 2024 2023 Amounts falllng due wlthln one year: Olher debtors Prepayment8 and accrued income 6.741 94 8,741 94 11 Credltors: amounts lalllng duo wlthln one year 2024 2023 Other taxation and social security Tradé crèditors Other creditors Accruals and deferred Income 852 928 8,873 2,850 1,079 2,800 4,731 13.091 12 Retlrement beneflt schomes Deflned contrlbutlon 8cheme8 The charitable company operales a defined contrlbution penslon Scheme for all qualifying employees. The a$$et$ of Ihe scheme are held separately from those of the charitable company In an independently administered fund. The charge to the Statement of financial activities in respect of defined contribution schemes was £850 (2023: £369). -23-
ENDANGEREDASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 13 Re8trlctod funds The restricted funds of the charity compris8 the unexpended balances of donations and grants held on trust subj8Ct to specific conditions by donors as to how they may be used. At 1 March 2023 Incomlng At 29 February resources 2024 34,877 34,877 14 Unre8trlcted fund• The unrestricted funds of the Charity comprise the unexpended balances of donatlon8 and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include d881gnat8d funds whlch have been 88t aslde out of unr8Stricted fijnds by the trustees for spefiC purposes. At 1 MaKh 2023 Incomlng Re8ource• resources expended At 29 February 2024 General fund8 31,785 181.725 (160,282) 53,228 Provlou8 yoar: At 1 March 2022 Incomlng r080urce8 Resources expended At 28 Fobruary 2023 General funds 48,142 128,672 (145,029) 31,785 15 Analy818 of net a88ets between fund8 Unre3trlcted fund8 2024 Re8trl¢tod funds 2024 Total 2024 Fund balance8 at 29 February 2024 arè Mpre8ènted by: Tangible assets CUrn1 assets/(liabilities) 9,498 43,730 9,498 78,607 34,877 53,228 34,877 88,105 -24-
ENDANGERED ASIAN SPECIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024 15 Analy818 of net assets between fund8 (Contlnued) Unrestrlcted fund8 2023 Re3trlcted fund$ 2023 Total 2023 Fund balance8 at 28 February 2023 are represented by: Tangible assets Current assetsl(liabilities) 5.827 25,958 5,827 25,958 31,785 31,785 16 Relatod party tran8actOon8 Tran•actlon8 wlth rolated part108 During the year the charitable company entered into the following Iransactions with related partles.. One of the trustees, Dr Alison Cronin MBE, is also the director and shareholder of Monkey World Limited. A charitable donation of £105,000 (2023: £95,000) was re¢eived during the year from Monkey World Llmlted. DrAli8on Cronin MBE is also a diredor and Shareholder ofApe Concessions Limited. At the balance sheet date, there are amounts due to connected companies of £1.079 (2023,. £8,873). This is Interest free and repayable on demand. At the balance 8h8et date, there are amounts due from connected companles of £6,741 {2023: £nil). Th1818 Interest free and repayable on demand. -25-