## 



|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|








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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
||Notes|funds<br>I|funds<br>f,|2023<br>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|





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## 

|||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|





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|||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|





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|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|





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



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





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## 

||Human<br>elephantco.|Elephant<br>protec{ion|Research<br>progfamme|Elephant<br>tracking<br>EducationandManagêment<br>Awarenessand|Elephant<br>tracking<br>EducationandManagêment<br>Awarenessand|Total<br>2023|Total<br>2022|Total<br>2022|
|---|---|---|---|---|---|---|---|---|
||existence|programme||pro9ramme<br>programmeadm¡nistrat¡on|||||
||programme|||costs|||||
||Ê|Ê|â|Ê<br>Ê|Ê||Ê|Ê|
|Staff costs|273,271|150,451|229,431|186,619<br>287,014|51,000|1,177,786||1,128,143|
|Depreciationandimpa¡rment|12,530|13,087|16,002|12,219<br>15,134|6,699||75,67193,896||
|Cost ofcharitable activities|345,250|774,851|584,554|292,493<br>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<br>803|
|Governance costs (seenote 9)||||-|9,276||9,276|26<br>876|
||631,051|938,389 829,587491,331787,528|||106,758|3,785,044||961<br>4,311|
|Analysisbyfund|||||||||
|Unrestrictedfunds<br>Restrictedfunds|419,581 732,788 769,075259,643587,113<br>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<br>667,874|130,441|||3,183,773|
|Restrictedfunds|279,350|174,118|6,775|483,766<br>184,179||||1,128j88|
||590,7091,300,742764,079|||673,937 852,053|130,441|||4,311,961|
|||||:::|||||





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|Support costs|||||||
|---|---|---|---|---|---|---|
|||2023|||2022||
|SupportGovernance<br>costs<br>costs<br>ÊÊ|||Total<br>Ê|SupportGovernance<br>costs<br>costs<br>ÊÊ||Total<br>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|<br>9,276|26,900|1'r*|1f1|1fl|
|Analysed between<br>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)||



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|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|



|<br>were:|||||
|---|---|---|---|---|
||Group<br>2023|Group<br>2022|Charity<br>2023|Charity<br>2022|
||Number|Number|Number|Number|
|Employees|5|6|||
||||---:|----:|



## 

## 

|Other gainsor lo|sses|||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|<br>TotalUnrestricted||Restricted|Total|
|||funds|<br>funds||funds|<br>funds||
|||2023<br>2023<br>â€fÊÊÊ||2023|2022|<br>2022|2022|
|Foreign exchange<br>(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<br>Group|||||
|---|---|---|---|---|
||Fixturesand<br>GomputersAircraftand|||Total|
||f¡ttings<br>Ê|motor<br>ÊÊ|vehicles|Ê|
|Gost|||||
|At1January2023|110,805|74,307|637,187|822,299|
|Additions|32,520|14,501|58,238|105,259|
|Disposals<br>Exchangeadjustments|38,187|25,641|(3,457)<br>233,949|(3,457)<br>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<br>Exchangeadjustments|20,515|19,512|(3,262).<br>171,514|(3,262)<br>211,541|
|At31December2023|90,842|85,988|697,154|<br>873,984|
|Carrying amount<br>At31December2023|90,670|28,461|228,763|<br>347,894|
||::::||||
|At31December2022|68,578|23,527|226,'t71|<br>318,276|
||::::||||





## 

## 

|Fixedassetinvestments<br>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<br>CompanyLimited|Kenya|Furtherance of charitable<br>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|t*r*|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|



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||||Movement infunds|Movement infunds|||Movement infunds|Movement infunds||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||Balanceal<br>1January2022|lncoming<br>¡esourcos|Resources<br>oxpended<br>Transfers||ExchangeBalanceat<br>gainsandlJanuary2023<br>losses||lncoming<br>resou¡ces|Resources<br>expended|ExchangeBalanceat<br>gainsand31 December<br>losses<br>2023|||
||Ê|€|Ê|Ê|â[||Ê|â||â[||
|Northem(Samburu) Vet<br>Project|121,084|4,0O2(56,012)|||12,484|81,558|50,e90 (43,065)|||<br>(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<br>MobileFilm Unit<br>Northem TrackingProject<br>ScholarshipFund<br>LeslieScott<br>Babala(HRC/RRU)<br>AFESG<br>Otherprojects|106,629<br>196,236<br>47,084<br>60,320<br>29,793<br>30,116|149,702<br>96,568<br>4,002<br>181,068<br>257,075|(104,914)<br>(179,377)<br>(4,374)<br>(13,184)<br>(100,665)<br>(232'5e3)|<br>-<br>8,868<br>2,637 13,740<br>-<br>8,897<br> <br>-<br>6,821<br> <br>-<br>6,423<br>16'38e34'522||10,583<br>1,206<br> <br>-<br>28,149<br>182,938119,385<br>148,17530,114<br>57,959<br> ll3:313,'23',i32||(11,071 )<br>(28,149)<br>('152,il0)<br>(4s,e58)<br>(14,e16)<br>(112,327)<br>(208,578)||(5)<br>(e40)<br>(805)<br>(270)<br>(532)<br>(s,462)|713<br>148,843<br>127,526<br>42,773<br>84,185<br>86,757|
|Drone project||||||||(8't,229)||5|(7ee)|
||980,218|1,032,513|,1:1999999999999999'_:-||:!!: !!''*||'*I::|(e10,086)||(15,727)|1,078,610|





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



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||2023|2022|
|---|---|---|
||å|Ê|
|Benefits in kind<br>Aggregatecompensation|7,319<br>=1fi|56,463<br>'ili|



||Amountsowedto|related|
|---|---|---|
||parties||
||2023<br>ÊÊ|2022|
|Keymanagementpersonnel||175,000|



## 



## 

|27|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|