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2020-12-31-accounts

Charity Registration No. 1118804

Company Registration No. 06138125 (England and Wales)

SAVE THE ELEPHANTS

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Prof F Vollrath (Chair)
M McCay
A Carey (Treasurer)
M Geldard
M Davitz (Appointed 1 August 2020)
Chief Executive Officer F Pope
Charity number 1118804
Company number 06138125
Registered office 73 Cornhill
London
EC3V 3QQ
Website www.savetheelephants.org
Email info@savetheelephants.org
Independent Auditor Gerald Edelman
73 Cornhill
London
EC3V 3QQ
Bankers Natwest Bank
135 Bishopsgate
London
EC2M 3UR
Solicitors Bristows LLP
100 Victoria Embankment
London
EC4Y 0DH
Save the Elephants Company Limited (a wholly owned subsidiary registered in Kenya)
Directors F Pope
W Kimani
Registered Office Diamond Trust House
Moi Avenue
P. O. Box 140041, 00100 Nairobi

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 28
Statement of Trustee' responsibilities 29
Independent auditor's report 30 - 33
Consolidated Statement of financial activities 34
Consolidated and Charity balance sheets 35
Consolidated Statement of cash flows 36
Notes to the consolidated financial statements 37 - 52

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report together with the audited consolidated financial statements of the charity and its subsidiary for the year ended 31st December 2020.

The Board of Trustees are satisfied with the performance of the charity during the year and the position at 31st December 2020 and consider that the charity is in strong position to continue its activities during the coming year, and that the charity’s assets are adequate to fulfil its obligations.

The reference and administrative information set out on page 1 forms part of this report and the financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities (FRS 102) (effective 1 January 2019).

A Review of Charitable Activities Undertaken by the Charity for the year 2020

ABOUT SAVE THE ELEPHANTS

Founded by zoologist Iain Douglas-Hamilton in 1993, Save the Elephants (STE) conducts pioneering research into the ecology and behaviour of elephants, providing hard data on the challenges affecting wild elephants and suggesting solutions for a harmonious future between elephants and humans.

At STE’s research station in Samburu National Reserve in Northern Kenya, a team of researchers study wild elephants on a daily basis. Over 900 identified elephants have been recorded using the reserves along the Ewaso Ny’iro river over the last two decades, and our intimate knowledge of their family structures and history has opened a rare window into the world of elephants. At a second research station in the Sagalla community in Tsavo, southeastern Kenya, our Human Elephant Coexistence team is investigating ways for people to live in harmony with elephants in an increasingly crowded landscape.

Save the Elephants and the Wildlife Conservation Network created the Elephant Crisis Fund (ECF) to tackle the killing of elephants for ivory. The crisis is driven by the international ivory trade, which thrives on poverty, insecurity, organized crime, corruption and greed. Although there are some signs of hope, the ivory trade continues and the ECF remains committed to ending it. As other threats to elephant survival are coming to the fore, the ECF is expanding its scope to address these. By the end of 2020 over $25 million had been granted out to 88 partners across 40 countries and supporting over 300 projects. Save the Elephants leads the strategic project selection, and the Wildlife Conservation Network lead the administration and governance. The funds are granted out of the USA and are not reported on in these accounts. The ECF fosters collaboration and delivers rapid impact on the ground, with 100% of every dollar deployed directly to the field.

Beyond the ivory crisis, STE works with world-leading partners to develop new technology to track and analyse elephant movements. The resulting systems are helping scientists and protected area managers across the continent to protect elephants and plan for their future, a critical concern in an increasingly populated and developed Africa. We

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pursue evidence-based conservation with grass-roots community engagement, create solutions and build broad collaborations to secure a future for the elephants in Kenya, and across the continent.

OBJECTIVES AND ACTIVITIES

Mission:

To secure a future for elephants and sustain the beauty and ecological integrity of the places they live, to promote man's delight in their intelligence and the diversity of their world, and to develop a tolerant relationship between the two species.

Activities:

Save the Elephants (STE) works across four core areas: Research, Protection, Human-Elephant Conflict and Awareness. We continue to deepen scientific knowledge of elephant behaviour, with particular focus on impacts of the conflicts between humans and elephants.

The situation for elephants across Africa has continued to evolve, with ivory poaching reducing as a threat. Coming into focus is the clash between the rapidly expanding human footprint and beleaguered elephant populations.

To reduce the conflict between humans and elephants we continue building a toolbox of methods to promote coexistence between our species. This year for the first time, we began sharing and scaling these solutions through the Elephant Crisis Fund across Africa with our partners the Wildlife Conservation Network.

Landscape planning will be critical for creating sustainable solutions for humans and elephants. To this end we continue to strengthen our tracking programme, to understand elephant needs from their movements, and how they use landscapes to survive.

Public Benefit:

In order to achieve its objectives the charity makes grants for the public benefit to both charitable institutions and worthy individuals both in the UK, Kenya and elsewhere. In setting our programmes and strategy going forward we have regard to both the general guidance on public benefit and prevention and relief of poverty published by the Charity Commission. The Trustees always ensure that the programmes we undertake are in line with the charity's aims and with their powers and responsibilities as detailed in the governing document and under charity law.

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1. Our Impact in 2020

February:

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2. Status of Elephants

How the pandemic impacted elephant populations across Africa

Forest elephants play in Dzanga Bai, Dzanga Sangha Protected Area, Central African Republic. © Miguel Bellosta/WWF

Elephants surprised us all in 2020 by coming out of the pandemic relatively unscathed. When the Covid crisis struck in March, there were warnings of a likely breakdown of law and order across Africa and of a massive increase in elephant poaching as wildlife tourism and funding for conservation collapsed. A few isolated cases of poaching were interpreted as the beginning of a tidal wave.

The happier reality was that the general decrease in elephant poaching observed in 2019 continued into 2020. We believe that the main reasons for this were the ban on ivory sales in China, the dismantling of key trafficking networks, effective coordination between Chinese law enforcement authorities and overseas partners, continued anti- poaching efforts, and depletion of key elephant populations (making it more difficult for poachers to find and kill elephants). When Covid was linked to bats and pangolins in 2020, Chinese law enforcement officials became very active in clamping down on all illegal wildlife trade, including ivory. Potential consumers may have shied away from buying ivory because of concern about the increased penalties for being caught.

There were some local upsurges of poaching and in some Central African forests poaching continues at concerning but not catastrophic levels. In a number of places there were reports of a reduction in local ivory prices, presumably a result of low demand from China, and this seems to have led to a reduced incentive for poachers.

When elephant populations recover, they are coming into increasing conflict with human encroachment into what was previously wild habitat. In some places, people are bringing in hunters to kill elephants that they see as a threat; in other situations, people with weapons are simply more likely to use them against any elephants that they come across.

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In the Samburu area where Save the Elephant’s home base is located, 40 elephants were killed in conflict in 2020, but only four were known to have been killed for their ivory. Killing as a result of conflict is not currently impacting large populations, but for small elephant populations in places like West Africa, even a small number of deaths could be enough to drive them towards extinction.

Because of the Covid pandemic, fewer elephant surveys were carried out than in previous years. However, of the ones that were done, none showed a dramatic decrease in numbers or high numbers of carcasses. This is in stark contrast to previous years.

Several hundred dead elephants found in northern Botswana in March 2020 caused much concern. Speculation was varied: deliberate poisoning of waterholes, or diseases or toxins, possibly exacerbated by climate change, and the impact of cattle veterinary fences. The mortality ceased as quickly as it had started, and the Botswana government said that the cause was cyanobacteria poisoning – although the exact evidence for this was not revealed. There have since been smaller but still unexplained mortality events in Botswana.

While we remain on guard for any resurgence of the ivory crisis, our eyes are on growing future challenges. As human settlement and infrastructure such as roads push further into elephant range, and elephants start to recover from the losses caused by poaching, we expect to see more conflict between people and elephants, and more small elephant populations pushed towards extinction through the loss of habitat. It is our task to try to prevent this from happening, by promoting coexistence between people and elephants, and direct support through the Elephant Crisis Fund.

3. Advances in Research

Building a new generation of conservationists

David Daballen, Head of Field Operations for STE, collects data on elephants in Samburu. Despite Covid-19, our Long Term Monitoring work continued in Samburu, Buffalo Springs and Shaba National Reserves. © Frank af Petersens/STE

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Covid presented a mixed bag of challenges to our research work at Save the Elephants. We were able to continue our long-term monitoring of elephant populations, movements and mortality around our Samburu field base. However, our usual collaborative work with overseas researchers and students suffered. Even the work of Kenyan students was curtailed because of travel restrictions between Nairobi and Samburu for various periods during the year.

On the positive side, several staff were able to pursue higher degrees. Benjamin Loloju completed his MSc at Cranfield University in the UK, Nelson Mwangi started his PhD at Colorado State University in the USA and Maureen Kinyanjui started her PhD at the University of Edinburgh.

Before Covid closed down travel, Mickey Pardo, a post-doctoral researcher from Colorado State University, was able to complete a season of fieldwork. His research in Samburu is aimed at discovering whether elephant rumbles are directed towards particular individuals. He is asking whether elephants address each other by name. This is extremely challenging work, since it is difficult to identify which elephant in a group is vocalising and even more difficult to determine who is being addressed. However, early results from the study indicate that elephants may be using different rumbles to address particular elephants.

Lack of travel didn’t stop STE staff members and associates from publishing a number of papers in peer reviewed journals in 2020 - eight in total. These covered a wide-ranging set of topics including identification of elephant movement corridors, local attitudes to human elephant conflict and the use of bee-hive fences to mitigate conflict, the use of machine learning to identify individual elephants, and advances in methods for counting elephants and other wildlife.

STE’s Head of Field Operations, David Daballen, mentors Research Assistant, David Lolchuragi in the field. STE is working to build the next generation of elephant researchers through its Kenya Elephant Research Fund. © J W d/S th El h t

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Save the Elephants is at the heart of monitoring the rewilding of orphaned elephants that have been rescued and hand-reared at the Reteti Elephant Sanctuary in Northern Kenya. So far three cohorts have been released into the fenced Sera Rhino Sanctuary prior to ultimate release into the wild. In collaboration with San Diego Zoo Wildlife Alliance, our staff deployed radio collars on the orphans and have been following their movements with the help of the collars, camera traps and a drone. The current aim is to see how they acclimatize to their semi-wild existence, and interact socially with each other and the wild elephants in the sanctuary.

Save the Elephants is working to build a next generation of Kenyan elephant researchers and conservationists. Often capable students are unable to complete higher degrees because of a lack of funding for university fees and fieldwork. With cuts in government support, there are few bursaries available. In this context STE has launched a new scholarship fund which will support a small number of masters and doctoral students who wish to pursue elephant research as part of their studies. By the end of 2020 we had advertised this opportunity and received a large number of expressions of interest. We issued the first batch of scholarships in 2021.

4. Elephant Tracking in 2020

Protecting elephants through understanding their movements.

Elephants often live big lives, covering great distances when the need or desire strikes. Tracking their movements has not only led to fundamental insights into how elephants live and how they make decisions. It has also proved a valuable tool to defend against ivory poaching and now in planning landscapes to preserve connectivity and prevent conflict.

At the start of 2020 Save the Elephants had 85 active collars deployed on elephants across Kenya, and was curating tracking data for a further 344 across the continent and in Asia. Our Elephant Crisis Fund supported the deployment of 21 collars over the year, nine in W, Benin (with African Parks), two in NW Angola (with the Kissama Foundation) and ten in Zambia (with Conservation Lower Zambezi).

Over the course of the year we deployed a further 23 collars across Kenya on a number of projects. These included the re-wilding of Reteti’s orphans (with San Diego Zoo Wildlife Alliance), and our long-term study in Samburu. We also tracked translocated elephants with the Kenya Wildlife Service and followed the fortunes of elephants in the Tana River Delta and West Pokot with the Northern Rangelands Trust.

Over the course of the year STE co-authored two peer-reviewed papers based on tracking data. One, by Georgia Troup, applied Festus Ihwagi’s original work on the tortuosity of elephant paths as a behavioural indicator, while the second by Guillaume Bastille-Rousseau & George Wittemyer developed new analyses to identify critical wildlife habitat and corridors.

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One of the Reteti orphans, Nadasoit, is fitted with a collar. In Research Officer/GIS, Benjamin Loloju, monitors elephant
2020, STE collared 23 elephants across Kenya to gain movement using STE’s tracking app.
insights into their lives and movement. © Jane Wynyard/Save the Elephants
© Jane Wynyard/Save the Elephants
----- End of picture text -----

EarthRanger, the protected area management system developed by Vulcan on the foundations of STE’s original RealTime Monitoring system, is now deployed in over 100 parks and reserves across the continent. The STE iOS Tracking App is an invaluable tool for understanding and communicating elephant movements.

5. The Elephant Crisis Fund

Adapting to shifting challenges

A member of Wild Survivors installs a beehive fence in Tanzania. The ECF is supporting human elephant co-existence projects like these across Africa. © Fran Mahoney

As the Covid crisis developed in the first months of the year, we had anticipated an increase in elephant poaching, and a decline in the ability of many of our partners to provide an effective response.

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As mentioned earlier in this report, there was no measurable increase in elephant poaching (although subsistence poaching of other species for meat does seem to have increased) and the decline in poaching levels observed in 2019 was sustained into 2020. In addition, although partners dependent on tourism funding did have reduced income, there was a generous response from other donors.

As the ivory crisis has diminished as a threat to elephants, crises of human-elephant conflict and loss of habitat are emerging. In response the Elephant Crisis Fund has modified its approach, funding activities that address these longer-term challenges in addition to the ivory crisis. We have started to support projects that address human elephant co-existence and population recovery – helping to maintain elephant-friendly landscapes in areas where poaching is no longer the primary threat.

Save the Elephants has a wealth of knowledge and contacts with people working across Africa on conflict mitigation through coexistence work at the Tsavo field site, and the roll-out of beehive fences in many parts of Africa. In 2020 the ECF issued seven small human-elephant coexistence grants, with the intention of increasing this to 20% of the total in 2021.

Despite the difficulties caused by Covid, which have made it difficult for law courts and law enforcement officers to operate at full capacity, there were a number of major successes against ivory poachers and traffickers supported by the ECF in 2020.

Congo’s most notorious poacher, ‘Guyvano’, was recaptured after killing several hundred elephants, escaping from jail, and severely wounding an eco-guard. In August 2020 he was sentenced to 30 years of hard labour for attempted murder.

In July 2020, traffickers who had been responsible for trafficking ivory, rhino horn, pangolin in Malawi were taken to court following a long-term multi-agency investigation supported in part by the ECF. Nine Chinese nationals and six Malawians were sentenced to a total of 79 years in prison, severely disrupting the activities of their network.

These successes can only be achieved at a high risk to the brave rangers and investigators who work to uphold the law. This sometimes carries the ultimate cost, and in September, two eco-guards in the Okapi Wildlife Reserve in the Democratic Republic of the Congo (DRC) lost their lives when their ECF-funded base was attacked by a rebel militia. The Elephant Crisis Fund is a joint initiative of Save the Elephants and the Wildlife Conservation Network. It was established to provide funding to organisations, both large and small, working to combat the ivory crisis.

Since its establishment in 2014, the Elephant Crisis Fund has provided 321 grants totalling $26,215,681 to 90 grantees working in 40 countries. During the course of 2020, the Elephant Crisis Fund disbursed $3,536,096 in 37 grants.

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Rangers in Okapi Wildlife Reserve in the Democratic Republic of the Congo (DRC) undergo training. A number of eco- guards have tragically lost their
lives in the line of duty. © Chris Thouless/Save the Elephants
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6. Covid Impacts Tsavo Coexistence

The trials of fieldwork during the pandemic

In 2020, we recorded significantly fewer crop raids in and around beehive fence protected farms like Tabitha’s (pictured) in Sagalla. © Jane Wynyard/Save the Elephants

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The Human-Elephant Coexistence team launched into 2020 with a welcome downpour of rain and a buzz in the air for all the work lined up for the year ahead. With conflict cases on the rise over the December crop season, we knew we had a big year of work ahead of us. The tsunami of Covid spreading around the world never broke on our project site in Sagalla but the Kenyan government’s lockdown rules forced the camp to close and our disappointed team to be sent away to ride out the wave indoors like the rest of the world.

Despite the challenges of remote management we kept up regular contact with our alliance of hundreds of farmers, community members and teachers, supporting them from a distance but with just as much zeal. From afar, we quickly bought, installed and deployed eight 1,000 litre handwashing tanks throughout the Sagalla communities to aid hand washing, funded the production of 720 facemasks, and co-ordinated the planting of fresh seedlings into our organic elephant-friendly permaculture gardens to keep food production going.

Top: Attendees of a financial literacy training workshop pose for a group photo outside the Women’s Enterprise Centre, which has become an important community hub. © Simatwa A. Ngachi/Save the Elephants. Bottom left: Josephine, a member of the Mlambeni Basket Weavers group, stands outside the Women’s Enterprise Center. © Naiya Raja/Save the Elephants. Bottom right: Despite the Covid pandemic, our teams were able to stay in touch with and support the local community

Thankfully we had finished construction of our large Women Enterprise Centre in March 2020, which became an important community hub. With the school support network shut down, we paid for and distributed sanitary wares to 66 vulnerable women and girls previously supported by the education department. Students were stranded at home with no power or computers to access online education, so we installed a printer and funded teachers to do houseto-house support to keep the students engaged.

We were devastated not to be able to harvest our 400+ beehives for honey, as strict evening curfews and social distancing rules dampened the beehive fence farmers’ enthusiasm for honey processing. That season we left the

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honey for our precious honey bees - they deserved the sweet feast for all the work they have been doing to keep our farms safe against elephant crop-raids over the years.

We were fortunate to record only 228 elephant events within the community during 2020, a relief from the intense crop-raids the year before where 822 elephants were recorded inside and around the farms. Perhaps the elephants were enjoying the peace inside the national parks as tourism and infrastructure projects ground to a halt.

Immune from the impacts of the virus, tracking data from our collared elephants continued to flow into our database system, streaming invaluable information on how they were using the massive 42,000 Km2 Tsavo Ecosystem. A much-anticipated re-collaring operation had to be postponed, resulting in several of our collars finally running out of battery life while still on the elephants. This will make their replacement or removal in 2021 more of a challenge.

7. Northern Kenya understanding conflict

Seeking solutions to the clash between humans and elephants

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A young boy herds livestock in Samburu National Reserve while elephants cross the Ewaso Nyrio river.
© David Letitiya/Save the Elephants
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As the threat of poaching has receded in northern Kenya, conflict between humans and elephants has grown. In 2020 in Samburu nearly half as many elephants were shot by herders last year without their tusks being taken as were killed at the height of the poaching outbreak.

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Much of this human-elephant conflict (HEC) is due to increased competition for grazing and access to water, as well as encroachment on former elephant rangelands. From agriculture to infrastructure, human activity is reducing the ability of elephants to roam freely. In the ensuing conflict for both space and resources, both human and elephant lives have been lost.

Elephant movement data, community surveys and HEC incident reports highlight particular conflict hotspots in the Matthews Range, and the Ngilai, Namunyak, Meibae and Naibunga community conservancies. This year we established our first Rapid Response Units in Ngaremara and Meibae to try to break the cycle of misunderstanding and retribution, and to assist the Kenya Wildlife Service in the enormous challenge of addressing the problem.

Top: Hungry elephants (similar to the ones pictured) have broken into farms and raided crops in Ngare Mara close to Samburu National Reserve. © Ryan Wilkie/Save the Elephants. Bottom left: STE is working with the local community and conservation partners on practical solutions to HEC. © Jane Wynyard/Save the Elephants. Bottom right: Conflict between people and elephants has become increasingly popular in northern Kenya. © Hilary Hurt/Save the Elephants

Clashes between humans and elephants in the Samburu county capital in Maralal and in Archer’s Post, the town closest to STE’s study site, have become more frequent.

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Along the Kirisia forest boundary in Maralal, we carried out rapid rural appraisals and participatory mapping with more than 300 farmers in ten study sites. In Archer’s Post we are mapping conflict incidences and engaging with affected communities in focused discussions to identify forms of HEC.

Ongoing monitoring of conflict incidents provides an opportunity for us to better understand and manage the conflict, and work towards our long-term goal of harmonious coexistence between our species.

8. New Specis, New Status – Forest Elephants

Reclassification brings a revised threat level

The decision to treat African forest and savanna elephants as separate species following fresh research into their genetics, was one of several important steps made by the IUCN’s African Elephant Specialist Group (AfESG) over the past three years.

The decision meant reassessing their conservation status. On the IUCN’s Red List of Threatened Species, forest elephants are now listed as Critically Endangered and savanna elephants as Endangered. When African elephants featured as a single species they were listed as Vulnerable.

Save the Elephant’s Dr Ben Okita-Ouma has served as co-Chair of the AfESG alongside Dr Robert Slotow since 2018. The AfESG was established in the 1970s to provide technical expertise relating to the conservation of African Elephants on national, regional and global levels.

Dr Okita-Ouma, who is also STE’s Director of Conservation Policy and Planning, said “We hope the assessments will focus appropriate conservation attention for the critically endangered forest elephant and the endangered savanna elephant as we identify and deal with the imminent implications and consequences of this shift.”

Membership of the group is increasing, with members representing an ever-wider range of skills. Thanks to their energy and skills, and with support from governments and multi-lateral agencies, the AfESG aims to promote conservation of Africa’s elephants throughout their range in collaboration.

The process of producing the next African Elephant Status Report - the most authoritative estimate of Africa’s elephant population - has begun, alongside a revision of the database behind the figures, with the technical and financial support of STE and Vulcan Inc.

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Forest elephants are now categorized as ‘critically endangered’ in the International Union for Conservation of Nature
(IUCN) Red List. © Frank af Petersens/Save the Elephants
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9. School shutdowns remote learning

Keeping kids connected at home

A happy elephant scholar, Saidimu Lejwale, with his education care package. Students including our elephant scholars have had to adapt to learning amidst Covid. © Jane Wynyard/Save the Elephants

At the start of the pandemic, restricted movement and the closure of all learning institutions affected students across the world. In Kenya, schoolchildren struggled to resume their studies due to lack of electricity, internet access and space to study. Among those affected were our elephant scholars.

The primary focus for the Save the Elephants’ education team was to support students to continue studying at home. With timely support from donors, our 80 students in remote areas received care packages tailored to their educational needs.

The packages contained covid hygiene kits and revision textbooks to help students catch up with the syllabus. Each student received a solar eco-lamp & phone charger to allow for night-time studying. The lamps were a welcome

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change from the dim and smoky kerosene lanterns that they often use. For the few college students whose schools were able to set up remote classes, mobile data packages made learning possible.

When education resumed, our partner schools received much-needed emergency feeding, hand-washing stations and reusable face-masks to help manage the spread of Covid.

Beyond the care packages, STE curated Covid-safe learning spaces for high school scholars. These allowed for week-long tutoring and mentorship camps led by our college students who were delighted to be able to assist.

As the pandemic evolved, our education team committed to improving learning and to making school less stressful - and more productive - for elephant scholars.

10. Northern Wildlife Vet Unit – Vet operations

The challenge of operating across Kenya’s semi-arid rangelands

Kenya Wildlife Service vet, Dr Michael Njoroge and his team. © Jane Wynyard/Save the Elephants

Northern Kenya is made up of a vast, wild and untamed landscape that is home to numerous endangered wildlife species. Elephants, lions, zebra and giraffe are threatened by poaching, land degradation, rapid development, and disease, but until recently there was no wildlife vet dedicated to the region.

In 2018, Save the Elephants partnered with Ewaso Lions and Grevy’s Zebra Trust and found support from a generous group of supporters which allowed us to enter an agreement with the Kenya Wildlife Service (KWS) to assign a vet to our area. The Northern Kenya Wildlife Veterinary Unit was born!

Led by KWS Veterinarian, Dr. Michael Njoroge, the unit includes two KWS Capture rangers and a driver. The team was recently joined by Dr. Sharon Mulindi to assist in collecting, storing and analysing samples taken during field interventions and help run the veterinary research laboratory, also based in Samburu.

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The team operates from a custom-made vehicle that contains equipment and tools necessary to treat injured or sick animals, and enjoys an increasingly-well equipped lab at STE’s Research camp in Samburu.

During 2020, the vet unit responded to 90 wildlife cases, from more than ten different species. These included elephant, lion, Grevy’s zebra, Burchell’s zebra, oryx, mountain bongo, eland, lesser kudu, monkey, ostrich and reticulated giraffe. Intervention included treatment for injuries, postmortem examination, rescues of orphaned or abandoned animals, and collaring exercises. The vet unit traversed six different counties to complete these operations.

11. News

Understanding Conflict

In 2020, we sent teams to human-elephant conflict hotspots across Kenya to talk to local communities and get a better understanding of the issues they face. In Maralal, we listened to the frustration of farmers whose crops had been destroyed by elephants.

Elephants and livestock graze in Lake Jipe, Tsavo © Naiya Raja/Save the Elephants

In Lake Jipe, Tsavo, we discovered people and elephants co-existing in an unusual fashion, with elephants traveling right though villages to reach the lake. In Archer’s Post, we heard stories of elephants raiding urban gardens. This data will help us in our efforts to create a world where elephants and humans can coexist in harmony.

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Conflict First Responders

Conflict between elephants and farmers is one thing. Clashes with pastoralists is quite another. Our first Rapid Response Unit is now in action with STE’s John Leruso and Lesayie Lerongoi trained in conflict resolution and in Meibae working with the communities there.

Connection Re-established

Last year, we tracked a young collared female, Koya (aged 23), setting off with her young family across what was recently a danger zone in northern Kenya. It’s the first time we’ve recorded a female elephant risking this journey. Koya’s decision suggests that elephants, once fragmented by ivory poaching and conflict, are exploring and reconnecting again. A key priority for 2021 and beyond is to create and preserve connectivity and ensure human settlements don’t choke off passageways for elephants.

John (front) and Lesayie (back) on their rapid response motorcycle. © Jane Wynyard/Save the Elephants

Koya and her family in Marsabit, northern Kenya. © Frank Pope/Save the Elephants

A Baby Boom

2020 saw another baby boom in Samburu - another promising sign that

elephants are starting to feel safe again. When elephants are under stress they struggle to breed. However, last year, close to 100 calves were born in the reserve, the highest birth rate since 2008.

Several families welcomed new calves into their herd. © Robbie Labanowski/Save the Elephants

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Farewell Tim The Tusker

We said goodbye to one of the last remaining great tuskers in Kenya last year - the infamous Tim, who died of natural causes. Tim was a renowned crop-raider with a notorious taste for tomatoes. He was attacked several times by angry victims of his raids but always managed to escape. In 2016, Save the Elephants collaborated with other conservation partners to track Tim, try to keep him out of mischief and to learn more about how to prevent conflict from threatening such magnificent elephants.

The iconic tusker Tim was an adventurous elephant. © Ryan Wilkie/Save the Elephants

New Trustee Joins Our Herd

In June 2020, we welcomed Michael A. Davitz to our board of Trustees. A physician- scientist and attorney, Michael has had a long association with STE starting in the 1970s he made an inventory of ivory at the Wildlife Division in Tanzania with our founder, Iain Douglas-Hamilton. Michael is a registered U.S. patent attorney as well as a physician with over 15 years’ experience in biomedical research, and more than 20 years’ experience providing strategic counselling to clients around the world in all aspects of intellectual property law. Michael has published over 25 papers in peer- reviewed scientific journals such as Science and Nature and is a highly sought-after public speaker on patentrelated issues in the U.S. We are delighted to have Michael on our board!

Our Team At TED!

Two of our senior team took to the TED stage in 2020, delivering impressive talks that captivated audiences around the globe. In February, Dr Lucy King spoke at TEDwoman in Palm Springs on how bees can keep the peace between

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

elephants and humans. By september, over 2.4 M people had watched the talk. In August, the Chairman of our Scientific Board, George Wittemyer, gave a powerful TEDx Mile High presentation on how to stop the next pandemic before it begins.

Lucy (left) and George (right) shared ideas worth spreading during their TED talks. © Jasmina Tomic/TED and David Daballen/Save the Elephants

The Elephant Queen On Tour

Communities in remote Kenya will soon get the chance to see the award-winning documentary, The Elephant Queen, when the mobile cinema unit rolls out complete with a huge inflatable screen. The film, which launched on Apple+ TV in 2019, follows an elephant herd’s gruelling migration across Tsavo led by matriarch Athena. The Elephant Queen has been translated into Maa and Swahili ahead of its initial six-month tour which kicks off in October 2021. Over 170 screenings are planned with over 30 different organisations, to help forge new empathy for elephants among the people who live with them.

The Elephant Queen, created by top wildlife filmmakers Mark Deeble and Vicky Stone, premiered in the ancient Greek theatre of Taormina in Sicily. Photo courtesy of Victoria Stone

Inspiring Young Minds

Save the Elephants prides itself on fostering local talent and creating new job opportunities for Kenyans. In 2020, we launched our Elephant Research Fund. The sponsorship, aimed at aspiring young Kenyans who wish to advance their careers in conservation. So far we’ve welcomed two new grantees - Marian Karanja (left) from Kenyatta University will be exploring the variations in elephant tusk weights and whether poaching is a contributory factor. Loise Kuria from Karatina University will be looking into diet selection and seasonal adjustments of elephants.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

Elephant Research Fund grantees, Marian Karanja and Loise Wangui. © Festus Ihwagi/Save the Elephants

Learning Abroad

In 2020, after spending almost a year in Lockdown in the UK, STE research assistant Benjamin Loloju returned to Samburu from Cranfield University in the UK where he has been pursuing his MSc in Geographical Information Management. Nelson Mwangi left for Colorado State University to pursue a PhD in ecology while Maureen is pursuing a PhD in Conservation Science at the University of Edinburgh. Esther Serem, scored a Merit in her MSc in Wildlife Management from Newcastle and a distinction in her MSc thesis. Adding these new skills and experience to our staff will be a great boost to our organisation and our long-term efforts to secure a future for elephants.

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Clockwise left to right, Benjamin, Nelson, Esther and Maureen.
© Robbie Labanowski, Jane Wynyard, Adams Kipchumba and Naiya Raja.
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New Centre For Reteti

We’re excited to be working with the Samburu-led orphan elephant rewildling project, the Reteti Elephant Sanctuary in Northern Kenya. We will help develop a world-class education centre to showcase the wonder of elephants and the importance of their place on our planet. Save the Elephants and the team at Reteti are partnering with MASS Design, a unique, award-winning nonprofit firm, on the project. The centre will introduce visitors to the world of elephants, the challenges of survival and the work of raising and rewilding orphans. The centre, expected to open in 2022, is designed to engage both local and global visitors in elephant conservation.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

Orphaned elephants at Reteti Elephant Sanctuary enjoy their milk bottles. © Robbie Labanowski/Save the Elephants

Virtual Look at Elephants’ World

Samburu elephants and STE’s David Daballen have become virtual stars in an award-winning cinematic film series for Facebook’s Oculus. In the three-part nature series Ecosphere, viewers travel through the savannahs of Kenya, Africa, the rainforest of Borneo, Malaysia and the coral reefs of Raja Ampat in Indonesia. Here, viewers can experience close encounters with elephants, orang-utans and manta rays along with the people who work to protect the animals and their habitats. The series was filmed in glorious VR by a team from Silverback Films and PHORIA in Samburu and Reteti last year.

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David in the field with elephants.
© Jane Wynyard/Save the Elephants
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Bracelets Supporting Elephants

In 2020 we partnered with Wildlife Collections who launched a line of exclusive elephant bracelets in support of Save the Elephants. Each bracelet comes with a postcard that introduces customers to a tracked elephant via a QR code that directs them to our website where they can learn more about their elephant’s story and follow their journey. The bracelets have been hugely popular. Thank you Wildlife Collections!

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

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Proceeds from Wildlife Collections’ elephant bracelets help protect elephants in the field.
© Jane Wynyard/Save the Elephants
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Appelbe Award: Nasuulu Head Ranger Recognised

In 2020, Francis Galgitele - Head Ranger of Nasuulu Conservancy that neighbours Samburu National Reserve, was the recipient of the Appelbe Award, a $500 cash prize. The award, gifted by one of STE’s founding trustees Felix Appelbe, annually recognises an individual who has shown outstanding passion, commitment and accomplishment working for Samburu’s wildlife. In 2012, Francis managed the Nasuulu ranger force, a unit made up of four different tribes.

He has become an expert negotiator and peacemaker, bridging the gap between tribes. Francis’s life has been threatened by poachers and bandits, but his dedication to the job and those who serve beneath him never wavers. The aim of the annual prize is to encourage local people to work for the common conservation cause.

Francis Galgitele (left) was the Felix Appelbe award recipient in 2020. © Simatwa A. Ngachi/Save the Elephants

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

2020 Scientific Publications & Other Articles

Bastille-Rousseau, G., Wittemyer, G., (2020) Characterizing the landscape of movement to identify critical wildlife habitat and corridors. Conservation Biology, Volume 0, No. 0, 1–14 © 2020 Society for Conservation Biology DOI: 10.1111/cobi.13519.

Branco M.S, P.S., Merkle, J.A., Pringle, R.M., King, L., Tindall, T., Stalmans, M., Long, R.A., (2020) An experimental test of community � based strategies for mitigating human–wildlife conflict around protected areas . Conservation Letters. 2019;e12679. wileyonlinelibrary.com/journal/conl 1 of 8 https://doi.org/10.1111/conl.12679

� Butler, K., M., (2020) Behaviour and crop raiding patterns of Asian Elephants (Elephas maximus): Can beehive

� fences help mitigate human elephant conflict in Sri Lanka? BSc (Ecology and Sustainability) (Hons.), M. Env A thesis submitted in total fulfillment of the requirements for the degree of Master of Philosophy (Environmental Science) Faculty of Science School of Environmental and Life Sciences University of Newcastle New South Wales, Australia August 2019

Uno, K. T., Fisher, D. C., Wittemyer, G., Douglas-Hamilton, I., Carpenter, N., Omondi, P., Cerling, T. E., (2020) Forward and inverse methods for extracting climate and diet information from stable isotope profiles in proboscidean molars . Quaternary International, Volume 557, 2020, Pages 92-109, ISSN 1040-6182

Kinyanjui, M.W., Raja, N.R., Ewan J Brennan, E. J., King, L. E., Tiller, L. N, (2020) Local attitudes and perceived threats of human � elephant conflict: a case study at Lake Jipe, Kenya. Pachyderm No. 61 July 2019–June 2020

Lamprey, R., Ochanda, D., Brett, R., Tumwesigye, C., Douglas-Hamilton, I., (2020) Cameras replace human observers in multi � species aerial counts in Murchison Falls, Uganda. Remote Sensing in Ecology and Conservation published by John Wiley & Sons Ltd on behalf of Zoological Society of London https://zslpublications.onlinelibrary.wiley.com/doi/full/10.1002/rse2.154doi: 10.1002/rse2.154

Troup, G., Doran, B., Au, J., King, L.E., Douglas-Hamilton, I., Heinsohn, R., (2020) Movement tortuosity and speed reveal the trade � offs of crop raiding for African elephants. Animal Behaviour 168 (2020) 97e108 https://doi.org/10.1016/j. anbehav.2020.08.009

Van de Water, A., King, L. E., Arkajak, R., Arkajak, J., van Doormaal, N., Ceccarelli, V., Sluiter, L., Doornwaard, S. M., Praet, V., Owen, D., Matteson, K., (2020) Beehive fences as a sustainable local solution to human � elephant conflict in Thailand. Conservation Science and Practice. 2020;e260 https://doi.org/10.1111/csp2.260

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

Weideman, H., Stewart, C., Parham, J., Holmberg, J., Flynn, K., Calambokidis, J., Paul, D, B., Bedetti, A., Henley,

M., Pope, F., Lepirei, J. (2020) Extracting identifying contours for African elephants and humpback whales

using a learned appearance model. 2020 IEEE Winter Conference on Applications of Computer Vision (WACV)

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

1. Risk Management Plan

The Trustees have established a framework for the identification and control of the major risks to which the Charity is exposed. The Trustees have a risk management plan that comprises:

Financial Performance

The Trustees can report that in 2020 STE’s total income was £3,304,936 (2019: £4,150,301).

In 2020, STE spent £2,471,044 on charitable activities, or 90% of total expenditure (2019: 2,503,595). £116,512 (4% of total expenditure) was spent on fundraising (2019: £81,770) while core administration and governance cost £145,164, or 6% of total expenditure (2019: £146,482).

Restricted funds received during the year totalled £1,120,659, of which £977,159 was spent. For further details refer to note 20.

At the end of 2020 our net assets stood at £3,353,998, of which £944,241 is unrestricted (2019: £2,914,648), covering our board- mandated 6 months operating reserve.

As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year have been satisfactory. The Statement of Financial Activities shows net incoming resources for the year to be £572,216 (2019: £1,418,454).

Please see note 6 for further details.

Fundraising Statement

Donations to STE were 21% down on the previous year 2019, as a result of uncertainty around Covid and our inability to conduct our usual partner and fundraising visits to the US and UK. This was almost exactly in line with the 20% reduction that was projected in our 2019 financial statement.

Despite these challenges we are confident that the changes we have implemented will enable us to raise the funds needed to accomplish our goals for 2022.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2020

We have not started using our reserve, our cashflows are looking healthy. Thus, we are not concerned by the contraction reflected in our primary statements, and do not anticipate fluctuations that would affect this view on the financial statements.

Reserves Policy

As a precautionary measure against unforeseen circumstances affecting the charity’s ability to raise funds, the trustees have placed a target that STE should maintain a capital reserve fund to cover the operating costs of the charity for a period of 6 months. Based on 2021’s budget, the current reserve should stand at £1,366,360.

At year-end STE's working capital and free reserves (excluding restricted and designated funds) stood at £2,409,757 (2019: 2,048,424). There are therefore sufficient funds available to cover the working capital reserve fund requirement.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEE' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management

The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Anyone over the age of 18 can become a member of the company.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Prof F Vollrath (Chair) P Henderson (Resigned 23 March 2021) M McCay A Carey (Treasurer) M Geldard M Davitz (Appointed 1 August 2020)

The methods adopted for the requirement and appointment of new trustees

There is no formal policy for the requirement of additional trustees but the current trustees review matters on a regular basis and as the need arises to recruit additional trustees with suitable background and experience.

The organizational structure of the charity and how decisions are made

The Trustees administer the charity. The board meets at least twice a year to manage the affairs of the organization. A Chief Executive is appointed by the trustees to manage the day-to-day operations of the charity and to facilitate operations; the Chief Executive has delegated authority, within the terms of that delegation approved by the trustees, for operational matters.

The Board of Trustees has no beneficial interest in the charitable company.

Share Capital

The company is limited by guarantee and therefore has no share capital.

Subsidiary

Save The Elephants Company Limited, a non-profit making company registered and based in Kenya, is funded by the charity. The shares of the company are held in trust on behalf of Save the Elephants by its members.

Auditor

The auditor, Gerald Edelman, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustee' report was approved by the Board of Trustees.

Prof F Vollrath (Chair)

Trustee Dated: 29 September 2021

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEE' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees, who are also the directors of Save the Elephants for the purpose of company law, are responsible for preparing the Trustee' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Trustees are also responsible for the contents of the trustees’ report, and the responsibility of the auditor in relation to the trustees’ report is limited to examining the report and ensure that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF SAVE THE ELEPHANTS

Opinion

We have audited the financial statements of Save the Elephants (the ‘charity’) and its subsidiary (the 'group') for the year ended 31 December 2020 which comprise the consolidated statement of financial activities, the consolidated and charity balance sheets, the consolidated statement of cash flows and the notes to the consolidated financial statements, including a summary of 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:

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 charity 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' 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 charity’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.

Other information

The Trustees are responsible for the other information. 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 we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SAVE THE ELEPHANTS

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustee' 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:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose 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 charity’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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities including fraud

Our audit procedures were primarily directed towards testing the accounting systems in operation upon which we have based our assessment of the financial statements for the year ended 31 December 2020.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SAVE THE ELEPHANTS

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

Audit response to risks identified

Fraud due to management override

Irregularities and non-compliance with laws and regulations

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but are not limited to:

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the directors of the company.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SAVE THE ELEPHANTS

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 auditors' 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.

Asgher Sultan FCCA (Senior Statutory Auditor) for and on behalf of Gerald Edelman

29 September 2021

Chartered Accountants Statutory Auditor

73 Cornhill London EC3V 3QQ

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Restricted Total Total
funds funds 2020 2019
Notes £ £ £ £
Income from:
Donations and legacies 4 2,184,277 1,120,659 3,304,936 4,150,301
Expenditure on:
Raising funds 5 116,512 - 116,512 81,770
Charitable activities 6 1,639,049 977,159 2,616,208 2,650,077
Total expenditure 1,755,561 977,159 2,732,720 2,731,847
Net income/(expenditure) before transfers 428,716 143,500 572,216 1,418,454
Gross transfers between funds 20 2,294 (2,294) - -
Net income for the year
431,010 141,206 572,216 1,418,454
Other recognised gains and losses
Other gains or losses 11 (69,677) (63,189) (132,866) (80,706)
Net movement in funds 361,333 78,017 439,350 1,337,748
Fund balances at 1 January 2020 2,048,424 866,224 2,914,648 1,576,900
Fund balances at 31 December 2020 2,409,757 944,241 3,353,998 2,914,648

The consolidated statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The consolidated statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31 DECEMBER 2020

Group Group Charity Charity
2020 2019 2020 2019
Notes £ £ £ £
Fixed assets
Intangible assets 12 1,402 2,168 - -
Tangible assets 13 298,538 404,439 - -
Investments 14 - - 139 139
299,940 406,607 139 139
Current assets
Debtors 18 83,936 108,095 - -
Cash at bank and in hand 3,091,443 2,553,785 3,054,607 2,538,183
3,175,379 2,661,880 3,054,607 2,538,183
Creditors: amounts falling due within
one year 19 (121,321) (153,839) (81,306) (88,600)
Net current assets 3,054,058 2,508,041 2,973,301 2,449,583
Total assets less current liabilities 3,353,998 2,914,648 2,973,440 2,449,722
Income funds
Restricted funds 20 944,241 866,224 944,241 866,224
Unrestricted funds 2,409,757 2,048,424 2,029,199 1,583,498
3,353,998 2,914,648 2,973,440 2,449,722

The Trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The financial statements were approved by the Trustees and authorised for issue on 29 September 2021 and were signed on its behalf by:

Prof F Vollrath (Chair) Trustee

Company Registration No. 06138125

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2020

2020 2019
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 24 568,967 1,307,072
Investing activities
Purchase of intangible assets - (1,731)
Purchase of tangible fixed assets (31,309) (99,845)
Net cash used in investing activities (31,309) (101,576)
Net cash used in financing activities - -
Net increase in cash and cash equivalents 537,658 1,205,496
Cash and cash equivalents at beginning of year 2,553,785 1,348,289
Cash and cash equivalents at end of year 3,091,443 2,553,785

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

Save the Elephants is a private company limited by guarantee incorporated in England and Wales. The registered office is 73 Cornhill, London, EC3V 3QQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, Monetary amounts in these financial statements are rounded to the nearest £.The functional currency of the charity is US Dollar and its subsidiary is Kenyan Shillings.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. 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 recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grants are recognised when the charity is entitled to receipt.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.5 Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all the costs related to the category.

Cost of raising funds relate to those specific costs incurred in organising and staging fundraising events and seeking voluntary contributions together with attributable support costs.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage as well as governance costs.

Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to strategic management of the charity.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software 20% straight line

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 12.5% reducing balance Computers 30% reducing balance Aircraft and motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

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.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment 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 interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

1.14 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure for the period.

1.15 Basis of consolidation

The financial statements consolidate the results of the charity and its wholly owned subsidiary Save the Elephants Company Limited on a line-by-line basis. The subsidiary has the same accounting reference date. No separate company Statement of Financial Activities (SOFA) has been prepared for the Charity as permitted by section 408 of the Companies Act 2006.

1.16 Taxation

As a registered charity the charity is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Charity SOFA Summary

The consolidated statement of financial activities includes the results of the charity's wholly owned subsidiary.

The summary financial performance of the charity alone is:

Total income for the year
Net (expenditure)/income for the year
Other gains and losses
Net movement in funds		 Total
2020
£
3,304,936
605,946
(82,228)
523,718		 Total
2019
£
4,150,301		 )
1,349,145
(60,120
1,289,025

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

4 Donations and legacies

Unrestricted
Restricted
funds
funds
2020
2020
£
£
Donations and gifts
2,184,277
385,774
Grants
-
734,885
Donated goods and services
-
-
2,184,277
1,120,659
For the year ended 31 December 2019
3,062,099
1,088,202
Donations and gifts
Northern (Samburu) Vet Project
-
12,077
Tsavo Trust Project
-
66,572
Northern Tracking Project
-
68,781
Scholarship fund
-
108,444
South Africa Tracking Project
-
4,975
Elephant & Bees Project
-
-
Unrestricted donations
2,184,277
-
Other
-
124,925
2,184,277
385,774		 Total
2020
£
2,570,051
734,885
-
3,304,936
12,077
66,572
68,781
108,444
4,975
-
2,184,277
124,925
2,570,051		 Total
2019
£
3,589,033
561,111
157
4,150,301
4,150,301
125,118
78,370
15,680
141,362
20,000
79,846
3,061,942
66,715
3,589,033

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

5 Raising funds

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Fundraising
Other fundraising costs 36,863 15,022
Staff costs 79,649 66,748
116,512 81,770

¢D fo CD f Ln ￿ ¢0 ts) LO EO O LO ¢0 (D Ln ¢D Cfj Ln O) Ln (n o rO)O trj O oN¢o oo o* r¢OO zwu ioo ID

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

7 Support costs

7 Support costs
2020 2019
Support
Governance		 Total Support
Governance		 Total
costs costs costs costs
£ £ £ £ £ £
Loss on disposal of fixed
assets 8,537 - 8,537 - - -
General administration 2,791 - 2,791 2,950 - 2,950
Bank charges 2,821 - 2,821 3,010 - 3,010
Legal and professional
fees 8,729 - 8,729 12,509 - 12,509
Audit fees - 16,349 16,349 - 13,745 13,745
Governance costs - 13,284 13,284 - 15,498 15,498
22,878 29,633 52,511 18,469 29,243 47,712
Analysed between
Charitable activities 22,878 29,633 52,511 18,469 29,243 47,712
8 Net movement in funds 2020 2019
£ £
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit of the company's
financial statements 16,349 13,745
Depreciation of owned tangible fixed assets 87,273 120,765
Loss on disposal of tangible fixed assets 8,537 -
Amortisation of intangible assets 546 607

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No expenses were paid to the Trustees in the year.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

10 Employees

Number of employees

The average monthly number of employees during the year was:

FOR THE YEAR ENDED 31 DECEMBER 2020 FOR THE YEAR ENDED 31 DECEMBER 2020 FOR THE YEAR ENDED 31 DECEMBER 2020
10
Employees
Number of employees
The average monthly number of employees during the year was:
Group
Group
2020
2019
Number
Number
Kenya
68
71
UK
1
2
69
73
Employment costs
2020
2019
£
£
Gross wages and salaries
1,068,407
1,071,637
Other pension costs
-
464
1,068,407
1,072,101
The number of employees whose annual remuneration was £60,000 or
more were:
Group
Group
2020
2019
Number
Number
Employees
3
4
11
Other gains or losses
Unrestricted
funds
2020
£
Foreign exchange loss/(gains)
69,677		 Charity
Charity
2020
2019
Number
Number
-
-
1
2
2
2
2020
2019
£
£
122,543
122,543
-
464
122,543
123,007
Charity
Charity
2020
2019
Number
Number
1
1
Restricted Unrestricted
funds
funds
2020
2019
£
£
63,189
80,706		 Charity
2019
Number
-
2
2
2019
£
122,543
464
123,007
Charity
2019
Number
1

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

12 Intangible fixed assets

Cost
At 1 January 2020
Exchange adjustments
At 31 December 2020
Amortisation and impairment
At 1 January 2020
Amortisation charged for the year
Exchange adjustments
At 31 December 2020
Carrying amount
At 31 December 2020
At 31 December 2019		 Software
£
3,037
(309		 )
)
2,728
869
546
(89
1,326
1,402
2,168

13 Tangible fixed assets Group

Fixtures and
fittings
£
Cost
At 1 January 2020
129,158
Additions
12,036
Disposals
-
Exchange adjustments
(13,159)
At 31 December 2020
128,035
Depreciation and impairment
At 1 January 2020
57,480
Depreciation charged in the year
9,552
Eliminated in respect of disposals
-
Exchange adjustments
(5,859)
At 31 December 2020
61,173
Carrying amount
At 31 December 2020
66,862
At 31 December 2019
71,678		 Computers
Aircraft and
motor vehicles
£
£
75,891
880,792
17,960
1,313
-
(80,970)
(12,931)
(84,732)
80,920
716,403
53,996
569,926
9,728
67,993
-
(72,433)
(5,501)
(58,062)
58,223
507,424
22,697
208,979
21,895
310,866		 Total
£
1,085,841
31,309
(80,970
(110,822		 )
)
)
)
925,358
681,402
87,273
(72,433
(69,422
626,820
298,538
404,439

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

13 Tangible fixed assets

(Continued)

The charity had no tangible fixed assets at 31 December 2020 or 31 December 2019.

All fixed assets of the group are used for charitable purpose.

14 Fixed asset investments Company

Fixed asset investments
Company
Other investments
£
Cost or valuation
At 1 January 2020 & 31 December 2020 139
Carrying amount
At 31 December 2020 139
At 31 December 2019 139
Group Group Company Company
2020 2019 2020 2019
Other investments comprise: £ £ £ £
Investments in subsidiaries 15 - - 139 139

15 Subsidiaries

Details of the charity's subsidiaries at 31 December 2020 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Save the Elephants Kenya Furtherance of charitable Ordinary 100%
Company Limited objects of Parent Charity

The issued share capital of the above wholly owned subsidiary, a non -profit making company registered and operated in Kenya, is held in trust by its members on behalf of Save the Elephants.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

16 Subsidiary company activities

The summarised financial information of the subsidiary undertaking of the Charity is provided below:

FOR THE YEAR ENDED 31 DECEMBER 2020 FOR THE YEAR ENDED 31 DECEMBER 2020 FOR THE YEAR ENDED 31 DECEMBER 2020 FOR THE YEAR ENDED 31 DECEMBER 2020 FOR THE YEAR ENDED 31 DECEMBER 2020
16
Subsidiary company activities
The summarised financial information of the subsidiary undertaking of the Charity is provided below:
Total income
Total expenditure
Retained profit for the year
Assets
Liabilities
Net assets
17
Financial instruments
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
18
Debtors
Other debtors
19
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 Group
2020
£
83,936
121,321
Group
2020
£
83,936
Group
2020
£
85,727
25,000
10,594
121,321		 2020
2019
£
£
1,657,772
1,769,540
(1,610,979)
(1,692,611
46,793
76,929
420,712
524,515
(40,015)
(65,240
380,697
459,275
Group
Charity
Charity
2019
2020
2019
£
£
£
108,095
-
-
153,839
81,306
88,600
Group
Charity
Charity
2019
2020
2019
£
£
£
108,095
-
-
Group
Charity
Charity
2019
2020
2019
£
£
£
81,432
47,806
33,100
61,576
25,000
47,000
10,831
8,500
8,500
153,839
81,306
88,600		 )
)
76,929
524,515
(65,240
459,275
Charity
2019
£
-
88,600
Charity
2019
£
-
Charity
2019
£
33,100
47,000
8,500
88,600

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

20 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at 1
January
2020
Incoming
resources
Resources
expended
Transfers
Exchange
gains and
losses
Balance at 31
December
2020
£
£
£
£
£
£
Africom Foundation
- Anti Poaching
project
2,439
-
-
(2,416)
(23)
-
Singer Rankin/
Arlena& Alison
46,192
-
-
(45,868)
(324)
-
CBOT
1,551
-
(1,543)
-
(8)
-
Tracking Project
35,581
72,838
(56,332)
-
-
52,087
Northern (Samburu)
Vet Project
144,610
12,077
(61,884)
-
(6,004)
88,798
George Wittemyer
(2)
1,069
-
(51)
-
(68)
950
Krupp Family
Foundation (2)
2,810
-
(2,781)
-
(29)
-
Elephant & Bees
project (4)
305,807
143,444
(203,481)
(2,441)
(15,323)
228,006
South Africa
Tracking Project
19,998
4,975
(24,436)
-
(537)
-
Protection
105,234
68,781
(162,575)
45,868
(3,486)
53,822
Tracking & Elephant
Queen Mobile Film
Unit
-
587,400
(251,746)
-
(20,048)
315,606
Scholarship Fund
200,863
109,449
(105,679)
-
(13,239)
191,394
Tsavo Trust Project
-
54,824
(54,824)
-
-
-
Other projects
70
66,871
(51,827)
2,563
(4,100)
13,578
866,224
1,120,659
(977,159)
(2,294)
(63,189)
944,241		 Movement in funds
Balance at 1
January
2020
Incoming
resources
Resources
expended
Transfers
Exchange
gains and
losses
Balance at 31
December
2020
£
£
£
£
£
£
Africom Foundation
- Anti Poaching
project
2,439
-
-
(2,416)
(23)
-
Singer Rankin/
Arlena& Alison
46,192
-
-
(45,868)
(324)
-
CBOT
1,551
-
(1,543)
-
(8)
-
Tracking Project
35,581
72,838
(56,332)
-
-
52,087
Northern (Samburu)
Vet Project
144,610
12,077
(61,884)
-
(6,004)
88,798
George Wittemyer
(2)
1,069
-
(51)
-
(68)
950
Krupp Family
Foundation (2)
2,810
-
(2,781)
-
(29)
-
Elephant & Bees
project (4)
305,807
143,444
(203,481)
(2,441)
(15,323)
228,006
South Africa
Tracking Project
19,998
4,975
(24,436)
-
(537)
-
Protection
105,234
68,781
(162,575)
45,868
(3,486)
53,822
Tracking & Elephant
Queen Mobile Film
Unit
-
587,400
(251,746)
-
(20,048)
315,606
Scholarship Fund
200,863
109,449
(105,679)
-
(13,239)
191,394
Tsavo Trust Project
-
54,824
(54,824)
-
-
-
Other projects
70
66,871
(51,827)
2,563
(4,100)
13,578
866,224
1,120,659
(977,159)
(2,294)
(63,189)
944,241
944,241

Restricted funds above have been received to fund the following projects:

  1. Protection

  2. Research

  3. Northern Vet Project

  4. Human Elephant Coexistence

  5. Education

  6. Elephant tracking

Transfers from the restricted fund - Funds received to fund the acquisition of capital assets are transferred to the unrestricted funds when the asset is acquired and included in fixed assets.

Transfers to the restricted fund - Funds are transferred into the restricted fund from unrestricted fund to meet excess expenditure on earmarked funds.

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

21 Share Capital

The charity is incorporated under the Companies Act and is limited by guarantee, each member having undertaken to contribute such amount not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.

22 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2020
2020
£
£
Fund balances at 31 December 2020 are
represented by:
Intangible fixed assets
1,402
-
Tangible assets
298,538
-
Current assets/(liabilities)
2,109,817
944,241
2,409,757
944,241		 Total
2020
£
1,402
298,538
3,054,058
3,353,998		 Total
2019
£
2,168
404,439
2,508,041
2,914,648

23 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

Aggregate compensation 2020
£
276,778		 2019
£
301,969
The following amounts were outstanding at the reporting end date:
Amounts owed to related
parties
2020
2019
£
£
Key management personnel
25,000
61,576

SAVE THE ELEPHANTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

23 Related party transactions

(Continued)

The following amounts were outstanding at the reporting end date:

Amounts owed by
parties
2020
£
Key management personnel
9,834
9,834
During the year the charity donated £1,656,468 (2019: £1,862,969) to its subsidiary, Save the
Company Limited, a company incorporated in Kenya.
24
Cash generated from operations
2020
£
Surplus for the year
572,216
Adjustments for:
Foreign exchange differences
(91,246)
Loss on disposal of tangible fixed assets
8,537
Depreciation and impairment of tangible fixed assets
87,819
Movements in working capital:
Decrease/(increase) in debtors
24,159
(Decrease) in creditors
(32,518)
Cash generated from operations
568,967
25
Analysis of changes in net funds
The charity had no debt during the year.		 Amounts owed by
parties
2020
£
Key management personnel
9,834
9,834
During the year the charity donated £1,656,468 (2019: £1,862,969) to its subsidiary, Save the
Company Limited, a company incorporated in Kenya.
24
Cash generated from operations
2020
£
Surplus for the year
572,216
Adjustments for:
Foreign exchange differences
(91,246)
Loss on disposal of tangible fixed assets
8,537
Depreciation and impairment of tangible fixed assets
87,819
Movements in working capital:
Decrease/(increase) in debtors
24,159
(Decrease) in creditors
(32,518)
Cash generated from operations
568,967
25
Analysis of changes in net funds
The charity had no debt during the year.		 related
2019
£
14,695
14,695
Elephants
2019
£
1,418,454
(68,128)
-
121,372
(66,232)
(98,394)
1,307,072
2020
£
572,216
(91,246)
8,537
87,819
24,159
(32,518)
568,967