2022-03-31-accounts

Charity Registration Number: 1154930

THE BORANA CONSERVATION TRUST FINANCIAL STATEMENTS

FOR THE YEAR TO 31 MARCH 2022

THE BORANA CONSERVATION TRUST

FINANCIAL STATEMENTS

FOR THE YEAR TO 31 MARCH 2022

INDEX Members of the Board and professional advisers Trustees’ Report Independent Examiner’s Report Statement of financial activities Balance Sheet Notes to the Financial Statements	Page 1 2-3 4 5 6 7-8

THE BORANA CONSERVATION TRUST

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

Register Charity Name	THE BORANA CONSERVATION TRUST
Charity Number	1154930
Principal Address	c/o IPGL Limited
	3rd Floor
	39 Sloane Street
	London
	SW1X 9LP
Trustees	Michael Alan Spencer
	Sarah Spencer
	Charles Filmer
	George Stephenson
	Carine Smith Ihenacho
	Michael Dyer
	Mary Ann MacHale
Independent Examiner	Anthony Epton
	Goldwins Limited
	Chartered Accountants
	75 Maygrove Road
	West Hampstead
	London
	NW6 2EG
Bank	Barclays
	1 Churchill Place
	London
	E14 5HP

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TRUSTEES’ REPORT

THE BORANA CONSERVATION TRUST

FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their report and accounts for the year ended 31 March 2022.

The financial statements have been prepared in accordance with 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 (FRS102- effective 1 January 2015- (Charities SORP FRS 102).

Structure, governance and management

The Governing Document is a Trust Deed dated 11 October 2013.The trustees meet once yearly to determine the general policy of the charity.

The Trustees who served the charity during the period were as follows:

Michael Alan Spencer Sarah Spencer Charles Filmer George Stephenson Carine Smith Ihenacho Michael Dyer Mary Ann MacHale

None of the trustees have any beneficial interest in the charity.

Risk management

The trustees have assessed the major risks to which the charity is exposed. In particular, they have reviewed the bank overdraft arrangements and the ability of the charity to meet its future commitments. The trustees are satisfied that systems are in place to mitigate such risks.

Objects and activities for public benefit

The objectives of the trust continue to be:

1. To promote for the benefit of the public the preservation, conservation, and protection of the environment (in particular the Flora and Fauna)of the Borana and Laikipia areas of Kenya ( the areas of benefit) by the provision of financial support and advice;

2. To promote sustainable development for the benefit of the public in the areas of benefit by providing financial support for the promotion of sustainable means of improving living standards and employment prospects for local people coupled with the prudent and socially responsible use of resources; and

3. To advance the education of the public within the areas of benefit in subjects relating to the preservation, conservation, and protection of the environment and sustainable development and for the purposes of these objects sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

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TRUSTEES’ REPORT

THE BORANA CONSERVATION TRUST

FOR THE YEAR ENDED 31 MARCH 2022

Public Benefit

The principal activities of the charity during the period continued to be to achieve the objectives as stated above. The trustees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 17 Charities Act 2011. The trustees believe that the charity achieves a public benefit by:

1. Preservation, conservation & protection of the environment.

2. Sustainable development for improving health, living standards & employment prospects, coupled with the socially responsible use of resources.

3. Advance education in subjects relating to 1 & 2 above.

Achievements and performance

In the previous year the charity raised £17k from donations. This year from the funds raised the charity donated over £45k in support of various worthy causes in Kenya, such as funding towards seven primary schools, as well as partial funding for housing for an education program officer, supporting the funding of a mobile health clinic, and also funding towards the building of an ablution block at a clinic. The remaining funds are being considered for other great causes.

Reserves Policy

The charity`s reserves policy is to create sufficient reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. As all income is derived from voluntary donations, the trustees review this position on a regular basis.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and 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 Charities Act 2011. 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.

CHARLES FILMER On behalf of the trustees of the Borana Conservation Trust

26 January 2023

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THE BORANA CONSERVATION TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE BORANA CONSERVATION TRUST

I report to the trustees on my examination of the accounts of the Borana Conservation Trust for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG

26 January 2023

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THE BORANA CONSERVATION TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND EXPENDITURE ACCOUNT

Income from: Donations and legacies Total income Expenditure on: Charitable activities Total expenditure Net income/(expenditure) for the year Balance brought forward Balance carried forward	Notes 2022 2021 £ £ 2 80,739 17,000 _ _ 80,739 17,000 _ _ 3 45,905 87,784 _ _ 45,905 87,784 _ _ 34,834 (70,784) 60,715 131,499 _ _ 95,549 60,715 ======= ======	2021

All of the above results are derived from continuing activities. The attached notes form part of these financial statements.

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THE BORANA CONSERVATION TRUST

BALANCE SHEET

AS AT 31 MARCH 2022

	2022	2022	2021	2021
	£	£	£	£
CURRENT ASSETS
Accrued income	-		11,000
Cash at bank	96,329		49,715
	_		_____
	96,329		60,715
CREDITORS
Amounts falling due within one year	(780)		-
	_		_____
NET CURRENT ASSETS		95,549		60,715
		_		_
NET ASSETS		95,549		60,715
		======		======
FUNDS		95,549		60,715
		======		======

Approved by the trustees on 26 January 2023 and signed on their behalf by:

Charles Filmer Trustee

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THE BORANA CONSERVATION TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

a) Basis of preparation

The financial statements have been prepared in accordance with 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 effective 1 January 2015) (Charities SORP FRS 102).

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

c) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

d) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

e) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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THE BORANA CONSERVATION TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR 31 MARCH 2022

2.	DONATIONS	2022	2021
		£	£
	Monetary donations	80,739	17,000
		======	======
3.	CHARITABLE ACTIVITIES	£	£
	Borana Conservancy- Kenya	45,332	87,053
	Bank charges	56	140
	FX revaluation	(263)	591
	Independent examination fee	780	-
		______	______
		45,905	87,784
		======	======

4. TRU STEES’ RE MUNERATION RELATED PARTY TRANSACTIONS

Trustees did not receive remuneration during the year (2021: Nil). There were no employees in the year (2021: none). There were no employee benefits payments to key management personnel in the year (2021: Nil).

5. RELATED PARTY TRANSACTIONS

There are no related party transactions to disclose for 2022 (2021: Nil).

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