2023-12-31-accounts - Save The Elephants

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees	ProfFVollrath (Chair)
	M McCay
	A Carey (Treasurer)
	M Davitz
	PAwori
Chief ExecutiveOfficer	F Pope
Gharitynumber	1118804
Companynumber	06138125
Registeredoffice	73 Cornhill
	London
	EC3V 3QQ
Website	www.savetheelephants.org
Email	info@savetheelephants.org
lndependentAuditor	Gerald Edelman LLP
	73 Cornhill
	London
	EC3V 3QQ
Bankers	Natwest Bank
	135 Bishopsgate
	London
	EC2M 3UR
Solicitors	Bristows LLP
	100VictoriaEmbankment
	London
	EC4YODH
Save the ElephantsCompanyLimited(awholly ownedsubsidiaryregistered in Kenya)
Directors	F Pope
	WKimani
Registered Office	DiamondTrustHouse
	MoiAvenue
	P.O. Box140041,00100Nairobi

		Unrestricted	Restricted	Total	Total
	Notes	funds I	funds f,	2023 Ê	2022I
lncome andendowments from:
Donationsand legacies	4	3,039,807	964,154	4,003,961	4,595,846
lnvestments	5	245		245
Other income	6	1,048		1,048
Totalincome		3,041,100964,154		4,005,254	4,595,846
Expenditureon:
Raising funds	7	244,069		244,069	275,499
Charitableactivities	I	2,874,958	910,086	3,785,044	4,311,961
Totalexpenditure		3,119,027910,086		4,029,113	4,s87,460
Net(expenditure)/income for the year
		(77,927) 54,068 (23,859)8,386
Otherrecognised gains and losses
Other gains or losses	14	(r84,969)(15,7271(200,6e6)350,760
Netmovementinfunds		(262,896)38,341(224,555',)359,146
Fundbalancesal1January2O23		3,667,537	1,040,269	4,707,806	4,348,660
Fund bafances at 31 December 2023		3,404,641	1,078,610	4,483,251	4,707,806

		Group	Group	Gharity	Gharity
		2023	2022	2023	2022
	Notes	â	Ê	â	f
Fixed assets
lntangible assets	t5		329
Tangible assets	l6	347,893	318,276
lnvestments	17			148	139
		347,893318,605		148	139
Current essets
Debtors	20	31,218	56,168
Cash at bank and in hand		4,200,266	4,679,836	4,152,6634,634,978
		4,231,484	4,736,0044j52$63		4,634,978
Greditors:amounts fallingduewithin
oneyear	21	(96,126)	(346,803)	(35,125)	(301,776)
Netcurrentassets		4,135,358	4,389,201	4,117,538	4,333,202
Totalassetslesscurrentliabilities		y,*:	ly''*	v:''*	4,333,341
Incomefunds
Restricted funds	23	1,078,610	1,040,269	1,078,610	1,040,269
Unrestrictedfunds		3,4Q4,641	3,667,537	3,039,076	3,293,072
		y.:	yy''*	4,117,686	4,333,341

		2023		2022
	Notes	f	Ê	Ê	f
Gashflows from operating activities
Cash (absorbed by)/generated from	27
operations			(377,767)		708,136
lnvesting activities
Proceeds fromdisposalof tangiblefixedassets		3,457
Purchase of tangiblefixedassets		(105,260)		(11e,146)
Netcash used in investing activities			(101,803)		(119,146)
Netcashused infinancing activities
Net (decrease)/increaseincash and cash
equivalents			(479,570)		588,990
Cash and cashequivalentsat beginning ofyear			4,679,836		4,090,846
Cash and cashequivalentsat end ofyear			4,200,266		4,679,836

Thesummaryfinancialperformanceof the charity aloneis:
	Total	Total
	2023	2022
	Ê	r
Total income for theyear	4,003,961	4,595,846
Net(expenditure)/income for theyear	(42,8e6)	36,311
Other gainsandlosses	(172,759)	347,025
Net movementinfunds	(215,655)	383,336
FundbalancesatIJanuary2023	4,333,34',1	3,950,005
Fundbalancesat3lDecember2O23	4,117,686	4,333,341
Represented By:
Assets	4,152,811	4,635,117
Liabilities	(3s,125)	(301,776)
NetAssets	4,117,686	4,333,341

	Unrestricted	Restricted	Total	Total
	funds	funds
	2023	2023	2023	2022
	Ê	Ê	Â	Ê
Donationsand gifts	3,039,807808,6143,848,421			4,115,728
Grants
	3,039,807964,1544,003,961			4,595,846
For theyear ended3lDecember 2022	3,563,333	1,032,s13		4,595,846
	:

	Unrestricted	Unrestricted	Unrestricted
	funds		funds
	2023 Êe		2022
lnterest receivable	245
Otherincome
	Unrestricted	Unrestricted
	funds		funds
	2023		2022
	Ê		c
Net gain ondisposaloftangiblefixed assets	1,048
	:

Raisingfunds
	UnrestrictedUnrestricted
	funds	funds
	2023 ÊÊ	2022
Fundraising
Other fundraising costs	41,998	70,504
Staff costs	202,071	204,995
	244,069	275,499

	Human elephantco.	Elephant protec{ion	Research progfamme	Elephant tracking EducationandManagêment Awarenessand	Elephant tracking EducationandManagêment Awarenessand	Total 2023	Total 2022	Total 2022
	existence	programme		pro9ramme programmeadm¡nistrat¡on
	programme			costs
	Ê	Ê	â	Ê Ê	Ê		Ê	Ê
Staff costs	273,271	150,451	229,431	186,619 287,014	51,000	1,177,786		1,128,143
Depreciationandimpa¡rment	12,530	13,087	16,002	12,219 15,134	6,699		75,67193,896
Cost ofcharitable activities	345,250	774,851	584,554	292,493 485,380	22,159	2,504,687		3,039,243
	631,051 938,389 829,9e7491,331 787,528				79,8583,758,144			4,261,282
Support costs(see note 9)				-	17,624		17,624	23 803
Governance costs (seenote 9)				-	9,276		9,276	26 876
	631,051	938,389 829,587491,331787,528			106,758	3,785,044		961 4,311
Analysisbyfund
Unrestrictedfunds Restrictedfunds	419,581 732,788 769,075259,643587,113 211,470205,601 60,912 231,688200,415				106,7582,874,958
	_i1"'ifi		''''ï1:!,'^_i1'111'
Fortheyear ended 31 December 2022
Unrestrictedfunds	311,359	1,126,624	757,304	190,171 667,874	130,441			3,183,773
Restrictedfunds	279,350	174,118	6,775	483,766 184,179				1,128j88
	590,7091,300,742764,079			673,937 852,053	130,441			4,311,961
				:::

Support costs
		2023			2022
SupportGovernance costs costs ÊÊ			Total Ê	SupportGovernance costs costs ÊÊ		Total t
General administration	5,340		5,340	20,790		20,790
Bank charges	3,639		3,639	3,013		3,013
Legalandprofessional
fees	8,645		8,645
Audit fees		9,276	9,276		17,942	17,942
Governance costs					8,934	8,934
	17.624	9,276	26,900	1'r*	1f1	1fl
Analysed between Charitable activities	!,'	9,276	111	lti	,:y:	1fl
Netmovementinfunds					2023	2022
					Â	€
Net movementinfundsis stated	after charging/(crediting)
Fees payable to thecompany'sauditor for the auditofthe			company's	financial
statements					9,276	17,942
Depreciation of ownedtangible fixedassets					75,441	93,010
Amortisation of intangibleassets					231	543
Profit on disposal ofintangibleassets					lLot)

The averagemonthlynumberofemplo	yees during theyearwas:
	Group	Group	Charity	Charity
	2023	2022	2023	2022
	Number	Number	Number	Number
Kenya	93	105
UK	5	4	4	4
	98	109	4	4
Employment costs	2023	2022	2023	2022
	Ê	Ê	â	€
Gross wagesandsalaries	1,291,926	1,299,131	283,359	295,855
Social securitycosts	70,732	23,355	26,292	23,355
Other pension costs	17,199	10,652	17,199	10,652
	1,379,857	1,333,138	=1f1	329,862

were:
	Group 2023	Group 2022	Charity 2023	Charity 2022
	Number	Number	Number	Number
Employees	5	6
			---:	----:

Other gainsor lo	sses
		Unrestricted	Restricted	TotalUnrestricted		Restricted	Total
		funds	funds		funds	funds
		2023 2023 â€fÊÊÊ		2023	2022	2022	2022
Foreign exchange (gains)	loss/	184,969	15,727	200,696	(216,381)	(134,379)(350,760)

Intangiblefixed assets
	Software
	Ê
Cost
At1January2023	2,727
At31December2Q23	2,727
Amortisation and impairment
At1January2023	2,398
Amortisation charged for theyear	231
Exchangeadjustments	98
At31December2023	2,727
Garryingamount
At31December2Q23
At31December2022	329

Tangiblefixed assets Group
	Fixturesand GomputersAircraftand			Total
	f¡ttings Ê	motor ÊÊ	vehicles	Ê
Gost
At1January2023	110,805	74,307	637,187	822,299
Additions	32,520	14,501	58,238	105,259
Disposals Exchangeadjustments	38,187	25,641	(3,457) 233,949	(3,457) 297,777
At31December2023	181,512	',t14,449	925,917	1,221,878
Depreciation and impairment
At1January2023	59,899	56,906	473,459	590,264
Depreciationchargedintheyear	10,428	9,570	55,443	75,441
Eliminated in respect of disposals Exchangeadjustments	20,515	19,512	(3,262). 171,514	(3,262) 211,541
At31December2023	90,842	85,988	697,154	873,984
Carrying amount At31December2023	90,670	28,461	228,763	347,894
	::::
At31December2022	68,578	23,527	226,'t71	318,276
	::::

Fixedassetinvestments Gompany
	Otherinvestments
	€
Gost orvaluation
At1January 2023	139
Valuation changes	I
At31December2O23	148
Carryingamount
At31Decembe¡2O23	148
	:
At31December2022	139

		Group	Group	Gompany	Gompany
		2023	2022	2023	2022
Other investments comprise		Ê	Ê	c	Ê
lnvestments insubsidiaries	l8			148	139
				:

Detailsofthecharity's subsi	diariesat31 Dece	mber2023 are as follows:
Nameofundertaking	Registered	Natureof business	Classof	%Held
	office		sharesheld	Direct lndirect
Save theElephants CompanyLimited	Kenya	Furtherance of charitable objects of Parent Charity	Ordinary	100%

	2023	2022
	Ê	t
Total income	1,969,491	2,256,243
Total expenditure	(1,875,714)	(2,083,292)
Retainedprofit fortheyear	-*,,,	:::::
Assets	423,755	413,689
Liabilities	(61,000)	(45,028)
Netassets	tr	368,661

Debtors
	Group	Group	Gharity	Charity
	2023	2022	2023	2022
	Ê	Ê	Ê
Otherdebtors	31,218	56,168		:
	31,2',t8	_i1ï
Creditors: amounts fallingduewithinoneyear
	Group	Group	Gharity	Gharity
	2023	2022	2023	2022
	Ê	Ê	Ê	€
Othertaxation andsocial security	33,992	7,628		7,628
Tradecreditors		99,983	4,139	84,294
Othercreditors	4,139	195,854		195,854
Accruals	57,995	43,338	30,986	14,000
	96,126	346,803	35,125	301,776

			Movement infunds	Movement infunds			Movement infunds	Movement infunds
	Balanceal 1January2022	lncoming ¡esourcos	Resources oxpended Transfers		ExchangeBalanceat gainsandlJanuary2023 losses		lncoming resou¡ces	Resources expended	ExchangeBalanceat gainsand31 December losses 2023
	Ê	€	Ê	Ê	â[		Ê	â		â[
Northem(Samburu) Vet Project	121,084	4,0O2(56,012)			12,484	81,558	50,e90 (43,065)			(562)	88,921
GeorgeWittemyer(2)	907				108	1,015				(7)	1,008
Savannah Project	69,700	5,800	(82,r59)	1,142	5,517
Elephant&Bees project (4)	264,562	276,307	(237,7O8)		32,752	33s,913	374j72	(208,253)		(3,149)498,683
Aerial support	53,787	57,989	(117,202)	1,179	4,247
Tracking&Elephant Queen MobileFilm Unit Northem TrackingProject ScholarshipFund LeslieScott Babala(HRC/RRU) AFESG Otherprojects	106,629 196,236 47,084 60,320 29,793 30,116	149,702 96,568 4,002 181,068 257,075	(104,914) (179,377) (4,374) (13,184) (100,665) (232'5e3)	- 8,868 2,637 13,740 - 8,897 - 6,821 - 6,423 16'38e34'522		10,583 1,206 - 28,149 182,938119,385 148,17530,114 57,959 ll3:313,'23',i32		(11,071 ) (28,149) ('152,il0) (4s,e58) (14,e16) (112,327) (208,578)		(5) (e40) (805) (270) (532) (s,462)	713 148,843 127,526 42,773 84,185 86,757
Drone project								(8't,229)		5	(7ee)
	980,218	1,032,513	,1:1999999999999999'_:-		:!!: !!''*		'*I::	(e10,086)		(15,727)	1,078,610

Analysis ofnetassetsbetweenfunds
	Unrestricted	Restricted	Total Total
	funds	funds
	2023 Ê	2023 I	2022 Ê 2023I
Fund balances at31December2023 are
representedby:
lntangible fixed assets Tangible assets Current assets/(liabilities)	34z,Be; - 3,056,7481,078,610		,or,rn;,,t,tlï 4,135,3584,389,201
	3,404,641	1,078,610	4,483,2514,707,806
	::::

	2023	2022
	å	Ê
Benefits in kind Aggregatecompensation	7,319 =1fi	56,463 'ili

	Amountsowedto	related
	parties
	2023 ÊÊ	2022
Keymanagementpersonnel		175,000

Gashgeneratedfrom operations	2023	2022
	Ê	Ê
(Deficit)/surpus for theyear	(23,859)	8,386
Adjustments for:
Foreign exchange differences	(200,687)	350,760
Amortisation and impairmentofintangible assets	329	543
Depreciation and impairment oftangiblefixed assets	72,179	93,010
Movementsinworking capital:
Decrease in debtors	24,948	55,229
(Decrease)/increase in creditors	(250,677)	200,208
Cash (absorbed by)/generatedfrom operations	(377,7671	708,136