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2024-12-31-accounts

Registered number 09427919 Charity number 1164052

ENDANGERED SPECIES PROTECTION AGENCY LTD

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

31 December 2024

ENDANGERED SPECIES PROTECTION AGENCY LTD

(A Company Limited by Guarantee)

Contents

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 8
Independent auditor's report on the financial statements 9
Consolidated statement of financial activities 10
Consolidated balance sheet 11
Company balance sheet 12
Consolidated statement of cash flows 13
Notes to the financial statements 14-27

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Peter Carr
William Freear
Martin Hewitt - Chairman
Harry Taylor
Barry Shaw
Accountants RF Adams & Co Ltd
Unit 8a
Escrick Business Park
Escrick
York
YO19 6FD
Bankers NatWest Bank PLC
2 King Street
Bridlington
YO15 2DB
Independent auditor UHY Calvert Smith LLP
Heritage House
Murton Way
York
YO19 5UW
Registered office 4th Floor 49 St James's Street
London
SW1A 1AH
United Kingdom
Registered number 09427919
Charity number 1164052
UK Solicitor US Lawyer
Solicitors Catherine Rustomji Carol P. Schaner, Esq
Shakespeare Martineau Gordon & Rees
Sheffield Irvine,
S11 8FT CA 92612 USA
Chief Operating Officer Peter Carr
Chief Executive Officer Harry Taylor
Conservation Adviser Rob Craig MBE
Operations Director William Freear
Project Development Director Barry Shaw
Chief Information Officer Nicola Turner
Publicity and Liaison Director Martin Hewitt
Chief Financial Officer Brian Daniel
General Manager Gemma Wiles
Head of Policy and Compliance Jo Scivener
Head of Training Richard Wright
Head of Human Rights Jesper Roerbaek
Head of Law Enforcement Ed Hall
Legal Adviser Henry Gow
Head of Risk and Compliance Ben Cunningham 1

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the audited financial statements of the group and parent charitable company for the 1 January 2024 to 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published in October 2019.

Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are to:

Promote the conservation and protection of endangered and exploited species of animals for the benefit of the public.

The aims of our charity are to reduce the illegal killing of endangered animals, promote credible transparent conservation practice, and protect wildlife custodians. Our aims fully reflect the purposes that the charity was set up to further.

We review our aims, objectives, and activities each year. This review examines what we accomplished and the outcomes of our efforts over the previous 12 months. It assesses the success of each key activity and the benefits they have provided to the groups of people we aim to assist

The review also helps us ensure that our aims, objectives, and activities remain focused on our stated purposes. We have referred to the guidance provided in the Charity Commission’s general guidance on public benefit when assessing our aims and objectives and planning our future activities. In par�cular, the trustees consider how planned ac�vi�es will contribute to the aims and objec�ves they have set.

b. The focus of our work

Our primary objectives for the year remained the promotion of conservation and the prevention of the illegal killing of endangered animals and exploitative practices. The strategies we employed to achieve these objectives included:

Providing a range of services that reflect relevant quality training and educational standards in conservation law enforcement.

Addressing potential issues concerning poaching and safeguarding endangered wildlife.

Focusing on minimising the danger to wildlife custodians who are currently protecting animals in the field, as well as to their families in the local community.

Striving to implement credible service standards alongside occupational safety and human rights protocols.

Collaborating with other agencies in the country to secure the broadest range of services available that best meet the relative needs of the endangered or exploited animals and their custodians.

Investigating the Illegal Wildlife Trade (IWT) and the commercial exploitation of wildlife

c. How our activities deliver public benefit

Our main activities and the individuals we assist are outlined below. All our charitable efforts focus on protecting endangered species and their custodians, building cases against, exposing, and prosecuting those who kill protected wildlife or exploit vulnerable species, and are entirely carried out to advance our charitable objectives for the greater public good.

2

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Continued

Achievements and performance (continued)

a. Who used and benefited from our services?

Our objects and funding limit the services we provide to endangered and exploited species worldwide. This year, our ranger training services have focused primarily on protecting forest elephants and okapi in the Democratic Republic of the Congo, rhinos in Eswatini, and exploited wildlife in Cambodia, Scotland, and England. Our areas of operation covered the Okapi Wildlife Reserve in the DRC, Hlane Royal National Park and Mkhaya Game Reserve in Eswatini, the Prey Lang Wildlife Reserve in Cambodia, and the coastlines of Scotland and England.

ESPA continues to enhance the skills of wildlife rangers and protected area managers, enabling them to develop and implement credible conservation strategies and law enforcement aligned with best practices and international human rights standards. This effort aims to protect endangered and exploited wildlife, safeguarding both species and habitats. Additionally, we have expanded our fundraising and outreach initiatives, collaborating with our partners to ensure that projects receive the necessary support to achieve success.

b. Projects

Project ALPHA – Hlane RNP and Mkhaya GR – Swaziland

Objective: Continuation of field ranger training and integration into existing ranger teams. Mentoring of ranger patrols and operations

ESPA ran one x three-month intervention, providing three instructors to deliver Basic Field Ranger Refresher Courses to existing selected rangers who had skill fade, and deliver mentoring to management on counter-drone procedures and the effectiveness of the Earth Ranger system to increase operational effectiveness, of the ranger force, and increase the law enforcement capability of BGP rangers to protect the Kingdom’s rhinos and other vulnerable wildlife.

Did we succeed in this objective?

Yes – Big Game Parks received 53 re-trained rangers, and park management received significant counter-drone and Earth Ranger mentoring, increasing the protection of Eswatini’s endangered white and black rhino

Project RESOLUTE – Okapi Wildlife Reserve – DRC

The 2023 training programme followed on from that of 2022, with a continued focus on consolidating existing skills and the internal leadership structure of the Eco Guards, increasing the OWR ranger service capability, and setting the conditions for a further increase in numbers across the coming years, and therefore increasing capacity. ESPA provided seven instructors over three interventions of two months, three months, and two months respectively, totalling seven months of training. Refresher programmes of previous courses enabled Eco Guards who had not received training for an extended period to bring their skills back up to the required level, mitigating the skill fade across the force and ensuring the maintenance of professional standards. Medic training for Eco Guards and NGO support staff further ensured that Eco Guard service, support staff and other reserve stakeholders work together collaboratively in as safe an environment as possible to protect the reserve’s integrity, wildlife, and local populace therein.

Objective: To increase the Reserve’s Eco Guard capacity and continue the specialist courses designed to elevate the Reserve’s operational capability.

The 2024 training programme built on that of 2023, maintaining a focus on developing the capacity of the OWR ranger service and enhancing its capability. ESPA provided five instructors over three interventions lasting three months each, along with one of two months, totalling eight months of training. Two Basic Field Ranger programmes provided 124 trained guards to join the Reserve’s Eco Guard Service, thereby increasing both its capacity

Did we succeed in this objective?

Yes, an essential uplift in trained ECO Guards has increased the Eco Guard service’s capability and capacity, ensuring the service is operationally effective

3

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Continued

Objective: To up-skill a selection of the Reserve’s rangers to increase their operational capability to support the Cambodian government and the project partner to deliver effective conservation law enforcement to international standards.

ESPA has embarked on a long-term project providing support to project partners covering conservation law enforcement with due regard for human rights and with a secondary law enforcement objective of successful prosecutions for wildlife crime. ESPA consultants have delivered training in country on this project and expect to continue to do so in 2025.

Did we succeed in this objective:

Yes, ESPA has trained twenty rangers to deliver effective conservation law enforcement in Prey Lang Wildlife Reserve.

Project FRANKTON – Whaling investigation – Norway

Objective: Collecting and compiling contemporary evidence into the Norwegian whaling fleet's unethical exploitation of the North Atlantic minke whale.

ESPA continues to investigate the Norwegian whaling industry alongside its supporting partners. Throughout 2024, ESPA intelligence analysts have been gathering data from open-source resources and freedom of information requests. We have also monitored the hunting patterns of the whaling fleets to confirm their seasonal area of operations. This information is crucial for the planned fieldwork during the 2025 whaling season. Furthermore, ESPA has persistently promoted and shared its educational documentary, Whale Wash – The Forgotten Whale, with the aim of educating the public and minke whale stakeholder governments about the questionable science that justifies the exploitation of the minke whale, as well as the unethical practices employed in their hunting. The evidence collected will substantiate the need to end the commercial exploitation of the minke whale in Norwegian waters.

Did we succeed in this objective?

shared worldwide with other conservation entities for educational purposes. The documentary has provided evidential justification to cease the exploitation of the minke whale. ESPA intends to follow this investigation through to the end of commercial whaling in Norwegian waters.

Project HORUS – Investigation/Protection – UK

Objective: IWT Investigation and protection.

Not for public dissemination – progress to be delivered verbally.

Project SALAR – Investigation – UK

Objective: IWT Investigation.

Not for public dissemination – progress to be delivered verbally.

4

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Continued

Structure, Governance and Management

ESPA is a charitable company limited by guarantee, incorporated on the 9th February 2015 and has the company no. 09427919.

It was registered as a charity on 21st October 2015 with the charity no. 1164052. The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

Recruitment and appointment of board of directors

The directors of the company are also charity trustees for the purposes of charity law and under the Company’s Articles are known as members of the board. Under the requirements of the Memorandum and Articles of Association the members of the board are elected to serve for a period of five years after which they must be re-elected at the next General Meeting.

Director Requirements

All board members (except for one trustee) gave their time voluntarily and received no benefits from the charity. In accordance with Articles 12-19 of the Charity’s Articles of Association and sections 185-188 of the Charities Act 2011. One trustee is paid for providing services in the position of Chief Operating Officer to the Charity, and in the additional capacity as Project Manager/Investigator/Surveillance Officer/Coxswain on selected projects over and above the requirements of COO.

Any expenses reclaimed from the Charity must conform to the Charity Commission guidance on trustee expenses and payments and the ESPA Financial Policy, Data Protection & Whistleblowing Policies.

Risk management

The board of directors has reviewed the significant risks to which the charity is exposed. The charity risk register is reviewed annually and amended in accordance with emerging risks and mitigation measures. As part of the risk mitigation strategies outlined over ESPA’s operations, fundraising and outreach activities have increased in line with capacity to achieve greater income diversity and reduce reliance on project income. Internal control measures remain in place to ensure project delivery is safe, suitable for the operating environment and situation, and meets high professional standards. Financial controls and an annual audit ensure all funding and expenditure are targeted, effective, and aligned with ESPA’s charitable objectives.

Organisational structure

The Endangered Species Protection Agency has five directors who sit on the board and meet at least once a year, twice a year where possible. The directors are responsible for the charity’s strategic direction and policy. They come from a variety of professional backgrounds relevant to the charity’s work.

A scheme of delegation is in place, and the CEO, COO, and General Manager are responsible for providing the charity’s services day to day. The CEO is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The COO and General Manager have responsibility for the day-to-day operational management of the Agency.

The CFO and General Manager have responsibility for the day-to-day financial management of the Agency.The CEO is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met.

The COO and General Manager have responsibility for the day-to-day operational management of the Agency.

The CFO and General Manager have responsibility for the day-to-day financial management of the Agency.The CEO is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met.

The COO, CIO and Head of Programmes have responsibility for the day-to-day operational management of the Agency. The CFO, CIO, Head of Programmes and Accounts Administrator have responsibility for the day-to-day financial management of the Agency.

The Charity’s key management personnel have their pay set at comparable market rates for their positions, responsibilities, and required day-to-day competencies. Charity staff pay is reviewed yearly in accordance with budgeting, forecasting, and staff performance.

ESPA USA

ESPA has a sister organisation in the USA – The Endangered Species USA Foundation – whose objectives are to raise funds for ESPA’s operational projects. The organisation is governed by a board of four, two of which also sit on the ESPA UK board. ESPA USA has 501(c)3 status, and its financial position is integrated into the annual accounts.

5

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Continued

Responsibilities of the board of directors

Company law requires the board of directors to prepare financial statements for each financial year that give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

· Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.

The board of directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The board of directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the board of directors

Members of the board, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

In accordance with company law, as the company’s directors, we certify that:

6

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Continued

Financial Review

ESPA is pleased to report that it has maintained all its project, fundraising, and administrative functions throughout 2024. Owing to the nature of the Project FRANKTON documentary production this year, it has been necessary to use core funds to meet outcome deadlines, while fundraising will remain ongoing to meet these upfront costs, and ESPA is continuing to diversify its income streams in order to lessen its reliance on large training project income.

At the end of financial year 2024, the ESPA’s total funds stood at £168,123, from £58,808 in 2023, of which £109,610 were unrestricted.

ESPA will continue to focus on diversifying its income streams in order to lessen its reliance on large training project income.

Principal funding sources

ESPA has received grant funding from several NGOs, funding organisations, and grant-giving institutions, and their support has been instrumental in maintaining project output throughout the year. A percentage of all training grants is allocated for operating overhead.

Future fundraising

ESPA has UK charity status and 501(c)3 status for ESPA’s USA sister organisation, and has successfully maintained progress according to its fundraising and development plan. ESPA remains responsive to developments in projects and adaptable to the needs of its partners, and will fundraise towards specific project goals to ensure that funding organisations can align their support with the project that reflects their priorities. ESPA’s intent is always to ensure that the majority of its funds can be spent on projects. It is also committed to developing an unrestricted funding strategy that will support core operating costs.

Fund raising standards - Section 144(2)

ESPA takes an honest and fair approach to its fundraising activities. We do not use any professional fund raisers or commercial partners in our fundraising. All fundraising is performed in-house. No complaints were received in the year with regards to our fundraising standards.

Going concern

At the time of approving the financial statements, the board of directors has a reasonable expectation that the charity has adequate resources to continue in existence for the foreseeable future. The directors therefore have continued to adopt the going concern basis of preparation for these financial statements.

Reserves procedure

The board of directors has examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a procedure whereby unrestricted funds not committed should be retained in the account as a minimum figure to cover unforeseen overhead as a reserve to meet working capital requirements. The intention remains to build this up to six months’ working capital and to separate this from general operating and core project funds where these funds are not required for active projects; this remains a primary objective of the board and senior management team.

Future Plans

The board of directors has examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a procedure whereby unrestricted funds not committed should be retained in the account as a minimum figure to cover unforeseen overhead as a reserve to meet working capital requirements. The intention remains to build this up to six months’ working capital and to separate this from general operating and core project funds where these funds are not required for active projects; this remains a primary objective of the board and senior management team.

7

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Continued

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently;

Observe the methods and principles of the Charities SORP (FRS 102);

Make judgments and accounting estimates that are reasonable and prudent;

State whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company 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 Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are Directors at the time when this Trustees' Report is approved has confirmed that:

so far as that Director is aware, there is no relevant audit information of which the charitable group's auditor is unaware, and

that Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the charitable group's auditor is aware of that information.

Approved by order of the members of the board of Trustees and signed on their behalf by:

H ~~C Taylor~~ H C Taylor (Sep 19, 2025 13:28:53 GMT+2) Harry Taylor Peter Carr Director and Chief Executive Officer Director

Date:

8

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

ENDANGERED SPECIES PROTECTION AGENCY LTD

Independent examiner's report to the trustees of Endangered Species Protection Agency Ltd ('the Group)

I report to the charity trustees on my examination of the consolidated accounts of the Group comprising the Endangered Species Protection Agency Ltd (‘the Company’) and its subsidiary undertakings for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirements of the Charities Act 2011 (‘the Charities Act’) and the Companies Act 2006 (‘the Companies Act) and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both the Company and the Group are not required by charity law to be audited and have chosen instead to have an independent examination.

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the Companies Act and are eligible for independent examination, I report in respect of my examination of the consolidated accounts. I have carried out my examination under section 145 of the Charities Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

accounting records were not kept in respect of the Company and its’ subsidiaries were not kept as 1 required by Section 386 of the 2006 Act; or

the accounts do not comply with the applicable requirements concerning the form and content of

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing 4 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

H Priest

UHY Calvert Smith Chartered Accountants Hayden Priest (Sep 19, 2025 16:02:38 GMT+1) Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW

9

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

For the year ended 31 December 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other income
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
18
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
25,655
672,692
3
698,350
22,123
609,555
631,678
66,672
(1,058)
65,614
43,995
65,614
109,609		 Restricted
funds
2024
227,226
-
-
227,226
-
184,625
184,625
42,601
1,100
43,701
14,813
43,701
58,514		 Total
funds
2024
252,881
672,692
3
925,576
22,123
794,180
816,303
109,273
-
109,273
58,808
109,315
168,123		 Total
funds
2023
217,611
840,276
2
1,057,890
46,854
984,477
1,031,330
26,560
-
26,560
32,248
26,560
58,808

10

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

CONSOLIDATED BALANCE SHEET

For the year ended 31 December 2024

Note
14
16
Cash at bank and in hand
22
17
18
18
Fixed assets
Total funds
Tangible assets
Current assets
Debtors
Creditors: amounts falling due within one year
Net current assets
Total net assets
Charity funds
Restricted funds
Unrestricted funds		 29,331
138,421

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

----- Start of picture text -----
Harry Taylor Peter Carr
H C Taylor
H C Taylor (Sep 19, 2025 13:28:53 GMT+2)
Date:
----- End of picture text -----

The notes pages form part of these financial statements.

11

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

COMPANY BALANCE SHEET

For the year ended 31 December 2024

Note
14
16
17
18
18
Total funds
Restricted funds
Unrestricted funds
Net current assets
Creditors: amounts falling due within one year
Total net assets
Charity funds
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand		 29,331
136,057

As permitted by s408 Companies Act 2006, the company has not presented its own Statement of Financial Activitites and related notes. The Company's net movement in funds for the year was £107,830 2023 (£27,894)

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Harry Taylor Peter Carr Date: H C Taylor H C Taylor (Sep 19, 2025 13:28:53 GMT+2)

12

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Cash flows from operating activities
21
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
14
Net cash used in investing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
22		 2024
£
(56,787)
(9,078)
(65,865)
204,243
138,379		 2023
£
143,685
(12,054)
131,631
72,612
204,243

The notes on pages 18 to 27 form part of these financial statements

13

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2024

1 Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities:

Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice

Endangered Species Protection Agency Ltd 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.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis for both the current and comparative year.

The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

The financial statements are presented in sterling which is the functional currency of the parent charitable company and rounded to the nearest £.

The foreign subsidiary has a functional currency other than the sterling. The results of the subsidiary have been translated into sterling (the currency in which ESPA UK presents its financial statements) as follows:

Foreign currency assets and liabilities are translated at the closing rate;

The income statement is translated at the average rate for the period;

Translation differences arising from different exchange rates are recognised in the Statement of Financial Activities.

1.2 Company Status

The charity is a company limited by guarantee, incorporated in England and Wales. The company's registered office is as stated in the Trustees' Report.

1.3 Going concern

The Directors have prepared forecasts and projections of income and expenditure for the period to 31 December 2024 and to 31 December 2025 and subjected these forecasts to sensitivity analysis which shows that they have sufficient reserves to be able to continue for the foreseeable future. They will continue to monitor the impact on income and take appropriate action as necessary.

At the time of approving the financial statements, the Directors have a reasonable expectation that the group and parent charitable company have adequate resources to continue in existence for the foreseeable future. The Directors therefore continue to adopt the going concern basis of preparation for these financial statements.

14

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

1.4 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Charitable Activities

Income from contracted projects is recognised on a work done basis, once the Company is entitled to the income.

Donations and Grants

Income from donations and grants, including capital grants, are included in income when these are receivable, except as follows:

When donors specify that donations and grants that are given to the charity must be used in future accounting periods, the income is deferred until those periods.

When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such

When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included within restricted income when receivable.

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by project.

The costs of each project are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.

Certain expenditure is directly attributable to specific activities and has been included in the relevant cost categories.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include central functions that have been allocated to activity cost categories on a basis consistent with the use of resources.

Governance costs are those incurred in connection with compliance with constitutional and statutory requirements.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

1.6 Foreign currencies

Where contracts have a predetermined fixed rate of exchange the relevant foreign currency transactions are recognised by applying to the fixed exchange rate per the contract. All other foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Consolidated Statement of Financial Activities.

15

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

1.7 Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Plant and machinery 3 year straight line Computer equipment 3 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

1.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 Cash at bank and in hand

Cash at bank and 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.

1.11 Liabilities and provisions

Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

1.12 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

16

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

1.14 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

1.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2 Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

Although not a significant risk of material misstatement the allocation of support costs is also a key estimate. The accounting treatment of support costs can be found in accounting policy 1.5.

3 Income from donations and legacies

Donations
Grants
Total for 2024
Total for 2023
4
Income from charitable activities
Project Resolute (renamed Okapi)
Allegiance
Alliance
Alpha
Coalition
Frankton
Hotspur
Incentive
Neptune
Renown
Salar
Total for 2024
Total for 2023		 Unrestricted
funds
2024
£
25,655
-
25,655
13,264
Unrestricted
funds
2024
£
630,849
-
-
-
-
355
1,407
37,937
2,145
-
-
672,692
840,276		 Restricted
funds
2024
£
-
227,226
227,226
204,347
Restricted
funds
2024
£
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
2024
£
25,655
227,226
252,881
217,611
Total
funds
2024
£
630,849
-
-
-
-
355
1,407
37,937
2,145
-
-
672,692
840,276		 Total
funds
2023
£
4,264
213,347
217,611
Total
funds
2023
£
404,881
23,247
60,319
182,700
66,235
-
31,475
-
-
64,200
7,219
840,276

17

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2024

5
Other incoming resources
Other income
Total for 2024
Total for 2023
6
Expenditure on raising funds
Costs of raising voluntary income
Professional fees
Computer and software costs
Wages and salaries
Employer's NI
Employer's pension
Travel Expenses
Post and stationery
Total for 2024
Total for 2023
7
Analysis of expenditure on charitable activities
Summary by fund type and project
Unrestricted
funds
2024
£
Other charitable expenditure
70,844
Project Alpha
-
Project Alliance
(389)
Project Frankton
-
Project Renown
(1,249)
Project Tenacity
173
Project Hotspur
1,294
Project Resolute (Okapi)
491,623
Project Allegiance
1,737
Project Horus
-
Project Coalition
(894)
Project Surety
(876)
Project Salar
-
Project Incentive
42,889
Project Challenge
4,184
Other smaller projects
220
Total for 2024
609,555
Total for 2023
773,659		 Unrestricted
funds
2024
£
3
3
2
Unrestricted
funds
2024
£
22,123
-
-
-
-
-
-
22,123
46,854
Restricted
funds
2024
£
-
27,356
-
56,796
-
-
-
-
-
25,382
-
-
75,092
-
-
-
184,625
210,817		 Total
funds
2024
£
3
3
2
Total
funds
2024
£
22,123
-
-
-
-
-
-
22,123
46,854
Total
funds
2024
£
70,844
27,356
(389)
56,796
(1,249)
173
1,294
491,623
1,737
25,382
(894)
(876)
75,092
42,889
4,184
220
794,180
984,476		 Total
funds
2023
£
2
2
Total
funds
2023
£
11,693
1,023
29,060
3,173
596
207
1,101
46,854
Total
funds
2023
£
4,139
171,766
54,422
138,322
39,690
920
31,630
435,216
18,479
12,059
39,887
2,644
31,830
-
-
3,471
984,477

18

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

8 Analysis of expenditure by activities

8
Analysis of expenditure by activities
Activities
undertaken
directly
Support costs
2024
2024
£
£
Other charitable expenditure
14,068
56,776
Project Alpha
23,389
3,967
Project Alliance
-
(389)
Project Frankton
23,468
33,522
Project Flotsam
-
(194)
Project Renown
-
(1,249)
Project Tenacity
-
173
Project Allegiance
1,924
(187)
Project Resolute (Okapi)
389,496
102,127
Project Hotspur
1,126
167
Project Horus
22,635
2,746
Project Coalition
-
(894)
Porject Surety
-
(876)
Project Salar
56,313
18,779
Project Incentive
35,346
7,544
Project Challenge
4,184
-
Other smaller projects
-
220
Total for 2024
571,949
222,231
Total for 2023
616,002
368,475
9
Analysis of direct costs
Contractor costs
Travel expenses
Legal and professional fees
Vehicle expenses
Project specific insurance costs
Other direct costs
10 Analysis of support costs
Consultancy fees
Wages and salaries
Employer's NI
Employer's pension
Travel expenses
Professional fees
Bank charges
Insurance
Office expenses
Printing, postage and stationary
Computer and software costs
Accountancy fees
Sundries
Depreciation
Subscriptions
Foreign currency gains and losses
Advertising and marketing		 Total
funds
2024
£
70,844
27,356
(389)
56,990
(194)
(1,249)
173
1,737
491,623
1,294
25,382
(894)
(876)
75,092
42,889
4,184
220
794,180
984,477
2024
£
447,141
57,086
30
1,256
19,659
46,778
571,949
2024
£
7,630
108,238
5,770
1,274
7,310
-
2,209
13,947
18,355
1,931
8,084
11,550
4,177
20,403
2,155
8,981
219
222,231		 Total
funds
2023
£
4,139
171,766
54,422
138,277
45
39,690
920
18,479
435,216
31,630
12,059
39,887
2,644
31,830
-
-
3,471
984,477
2023
£
444,518
75,836
833
4,820
23,863
66,131
616,002
2023
£
19,945
179,637
15,371
1,978
9,027
27,832
2,077
18,306
12,805
751
5,323
15,674
4,844
20,265
4,746
29,740
155
368,475

19

Travel expenses include expenditure on air travel, train travel, taxis, accomodation and subsistence.

ENDANGERED SPECIES PROTECTION AGENCY LTD

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2024

11
Auditor's remuneration
2024
£
Fees payable to the Company's auditor for the audit of the Company's annual
1,000
accounts
12
Staff costs
Group
Group
Company
2024
2023
2024
£
£
£
Wages and salaries
108,238
208,697
108,238
Social security costs
5,770
18,544
5,770
Contribution to defined contribution pension
schemes
1,274
2,574
1,274
115,281
229,815
115,281
The average number of persons employed by the Company during the year was as follows:
Group
2024
Employees
4
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
Group
2024
In the band £60,001 - £70,000
-
In the band £70,001 - £80,000
-
In the band £100,001 - £110,000
-		 2023
£
7,315
Company
2023
£
208,697
18,544
2,574
229,815
Group
2023
5
Group
2023
1
1
-

The total amount of employee benefits (including employer pension contributions and national insurance) received by key management personnel is £57,647 (2023: £162,338). The company considers its key management personnel to comprise of the Chief Executive Officer, Chief Operating Officer, Chief Finance Officer and Chief Information Officer.

13 Trustees' remuneration and expenses

During the year, no Trustees received any remuneration in their capacity as Trustees (2023: £nil).

One trustee has received remuneration in their capacity as Chief Operating Officer, further details of which are given in note 24.

During the year ended 31 December 2024, expenses totalling £nil were reimbursed or paid directly to Trustees

20

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

14
Tangible fixed assets
Group and Company
Cost or valuation
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
On disposals
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Plant and
Machinery
58,662
7,821
-
66,483
34,514
18,343
-
52,857
13,625
24,147		 Computer
Equipment
18,988
1,257
-
20,245
15,348
2,060
-
17,408
2,837
3,640		 Total
77,650
9,078
-
86,728
49,862
20,403
-
70,265
16,462
27,787

15 Principal subsidiaries

Endangered Species Protection Agency USA Foundation was considered to be under the control of the parent charitable company as a result of it's ByLaws and therefore meets the definition of a subsidiary. As a result, a consolidated position has been prepared for the current and prior year.

The Foundation has 501(3)(c) status and is registered in United States of America. The results of the foundation have been translated into Sterling for the purposes of the group accounts.

The financial results of the subsidiary for the year were:

2024 2023
£ £
Income: 137,571 185,669
Expenditure: 136,086 187,004
Surplus/(Deficit) for the year 1,486 (1,335)
Net assets: 2,364 773

21

ENDANGERED SPECIES PROTECTION AGENCY LTD

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

16
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
17
Creditors: Amounts falling
due within one year
Trade creditors
Other creditors
Accruals and deferred income		 Group
2024
£
10,766
3,819
14,746
29,331
Group
2024
£
9,450
2,890
3,751
16,091		 Group
2023
£
423
6,241
39,680
46,344
Group
2023
£
59,048
2,879
157,640
219,567		 Company
2024
£
10,766
3,819
14,746
29,331
Company
2024
£
9,450
2,890
3,751
16,091		 Company
2023
£
423
6,241
39,680
46,344
Company
2023
£
59,048
2,879
157,640
219,567

22

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

18 Statement of funds
Statement of funds - current year
Balance at 1 Transfers Balance at 31
Jan-24 Income Expenditure in/out Dec-24
£ £ £ £ £
Unrestricted funds
Designated funds
Project Incentive - - (42,889) 42,889 -
Project Piper - - (2) 2 -
Project Neptune - - (429) 429 -
Project Panda - - 212 (212) -
Project Surety - - 876 (876) -
Project Allegiance - - (1,737) 1,737 -
Project Alliance - - 389 (389) -
Project Coalition - - 894 (894) -
Project Hotspur - - (1,294) 1,294 -
Project Okapi - - (491,623) 491,623 -
Project Renown - - 1,249 (1,249) -
Project Tenacity - - (173) 173 -
Project Challenge - - (4,184) 4,184
- - (538,711) - 538,711 -
General funds
General funds 43,117 683,979 (80,081) (539,769) 107,246
ESPA USA funds 878 14,371 (12,886) - 2,364
43,995 698,350 (92,967) (539,769) 109,609
Total Unrestricted funds 43,995 698,350 (631,678) (1,058) 109,609
Restricted funds
Project Alpha - 29,505 (27,356) - 2,149
Project Horus 11,782 12,500 (25,382) 1,100 -
Project Flotsam - - 194 - 194
Project Liberty 3,031 - - - 3,031
Project Frankton 0 95,329 (56,990) - 38,339
Projest Salar - 89,891 (75,092) - 14,800
14,813 227,226 - (184,625) - 1,100 - 58,513
Total of Funds 58,808 925,576 (816,303) - 168,123

23

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

Statement of funds - prior year

Balance at Balance at 1 Balance at 31
Jan-23 Income Expenditure in/out Transfers Dec-23
£ £ £ £ £
Unrestricted funds
Designated funds
Project Liberty - - (493) 493 -
Project Piper - - (663) 663 -
Project Neptune - - (1,788) 1,788 -
Project Panda - - (527) 527 -
Project Surety - - (2,644) 2,644 -
Project Allegiance - - (18,479) 18,479 -
Project Alliance - - (54,422) 54,422 -
Project Coalition - - (39,887) 39,887 -
Project Hotspur - - (31,630) 31,630 -
Project Okapi - - (435,216) 435,216 -
Project Renown - - (39,690) 39,690 -
Project Tenacity - - (920) 920 -
Project Alpha - - (143,160) 143,160 -
- - (769,520) 769,520 -
General funds
General funds 19,864 841,102 (37,218) (780,631) 43,117
ESPA USA funds 2,212 12,441 (13,775) - 878
22,076 853,543 (50,993) (780,631) 43,995
Total Unrestricted funds 22,076 853,543 (820,513) (11,111) 43,995
Restricted funds
Project Alpha - 28,606 (28,606) - -
Project Horus 7,141 13,700 (12,059) 3,000 11,782
Project Flotsam - - (45) 45 -
Project Liberty 3,031 - - - 3,031
Project Frankton - 138,277 (138,277) - (0)
Projest Salar - 23,763 (31,830) 8,066 -
10,172 204,347 - (210,817) 11,111 14,813
Total of Funds 32,248 1,057,890 (1,031,330) - 58,807

24

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

Statement of funds (continued)

Project ALPHA

Establishment of a partnership for the purposes of developing anti-poaching strategy and specialist counterpoaching training in Eswatini.

Project ALLEGIANCE

Establishment of a partnership for the purposes of developing a conservation, law enforcement, and human rights strategy in Cameroon.

Project FLOTSAM/FRANKTON

Establishment of a partnership for the purposes of conducting an investigation into rogue whaling vessels operating in the Barents sea.

Project ALLIANCE

Establishment of a partnership for the purposes of developing a conservation, law enforcement, and human rights best practice strategy, and unarmed self-defence training in Liberia.

Project HORUS

Establishment of partnerships for the purpose of protecting the UK’s peregrine falcon populations. Project HOTSPUR Establishment of a partnership for the purposes of developing a conservation, law enforcement, and security assessment and risks to human rights in The Central Cardamom Mountains National Park Cambodia. Project LIBERTY Establishment of partnerships for the purposes of investigating the illegal lion bone trade, the captive lion industry and its negative effect on wild lion populations in Africa.

Project OKAPI

Establishment of a partnership for the purposes of delivering ranger training to up-skill and increase the operational effectiveness and safety of Eco-Guards in the Okapi Wildlife Reserve, DRC.

Project SALAR

Establishment of partnerships for the purpose of investigating the negative effects of industrial open-net salmon farming on wild salmonids, local biodiversity and their environs in global areas of operation.

Project TENACITY

Establishment of a partnership for the purposes of investigating the lion bone trade.

Project COALITION

Establish a partnership for the purposes of assessing and delivering ranger training to up-skill and increase the operational effectiveness, human rights best practices, and safety of Eco-Guards in Maiko National Park, DRC.

Project RENOWN

Establishment of a partnership for the purposes of developing conservation, law enforcement, security and risks to human rights, strategies, and establishing best practices in sustainable landscape and eco-tourism in Cambodia.

Transfers

Where the Company undertakes contracted projects, this income is designated for the particular project, until the contracted services have been carried out. Where applicable surpluses accrued in relation to projects are released to general reserves to be used for the charitable purpose of the Company, once the project has been completed. These are shown as transfers between funds.

Where projects required additional expenditure in the year, this has been sourced from ESPA general funds and is shown as transfers into restricted funds.

25

ENDANGERED SPECIES PROTECTION AGENCY LTD (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

19 Summary of funds

Summary of funds - current year Summary of funds - current year
Balance at 1 Transfers Balance at 31
Jan-24 Income Expenditure in/out Dec-24
£ £ £ £ £
Designated funds - - (538,711) 538,711 -
General funds 43,995 698,350 (92,967) (539,769) 109,609
Restricted funds 14,813 227,226 (184,625) 1,100 58,514
58,808 925,576 (816,303) - 168,123

Summary of funds - prior year

Balance at 1 Transfers Balance at 31
Jan-23 Income Expenditure in/out Dec-23
£ £ £ £ £
Designated funds - - (769,520) 769,520 -
General funds 22,076 853,543 (50,993) (780,631) 43,995
Restricted funds 10,172 204,347 (210,817) 11,111 14,813
32,248 1,057,890 (1,031,330) - 58,808

20 Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Tangible fixed assets
16,462
-
Current assets
109,239
58,513
Creditors due within one year
(16,091)
-
Total
109,610
58,513
Analysis of net assets between funds - prior year
Unrestricted
Restricted
funds
funds
2023
2023
£
£
Tangible fixed assets
27,787
-
Current assets
235,775
14,813
Creditors due within one year
(219,567)
-
Total
43,995
14,813		 Total
funds
2024
£
16,462
167,752
(16,091)
168,123
Total
funds
2023
£
27,787
250,587
(219,567)
58,808

26

ENDANGERED SPECIES PROTECTION AGENCY LTD

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

21 Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal
Increase/decrease in debtors
Increase/decrease in creditors
Net cash provided by/(used in) operating activities
22
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 Group
2024
£
109,273
20,403
-
17,013
(203,476)
(56,787)
Group
2024
£
138,421
138,421		 Group
2023
£
26,560
20,266
-
17,352
79,507
143,685
Group
2023
£
204,243
204,243

23 Pension commitments

The company operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £1,274 (2023: £2,574)

24 Related party transactions

The company entered into transactions with Peter Carr Sporting Limited, a limited company owned by P Carr, a director of the company. The company was charged £47,573 in respect of contractors fees, (2023: £36,674).

P Carr received remuneration for his position as Chief Operating Officer of £48,000 during the year (2023: £76,000) in respect of salary and untaken annual leave. The Charity Commission has provided approval for remuneration to be paid to in respect of this role.

P Carr also received £1,275 (2023: £4,514) from the company in respect of reimbursement of travel, accommodation and other expenses.

During the year to company paid £1,355 (2023: £3,694) for the use of accomodation, owned by P Carr a director of the company, for visiting workers to stay in. Also, during the year, the company used office space owned by P Carr, at no cost.

The company entered into transactions with D Carr, wife of P Carr who is a director of the company. The company was charged £0 (2023: £15,741) in respect of contractors fees, including reimbursement of travel and accommodation expenses.

The company entered into transactions with H Taylor, a director of the company. Reimbursements of £9,995 (2023: £6,312) were charged to the company in respect of of insurance, travel and other expenses, and £Nil (2023: £Nil) was in respect of contractor fees.

Endangered Species Protection Agency USA Foundation is considered to be under the control of the parent charitable company as a result of its ByLaws. During the year the parent charitable company received grants of £120,695 (2023: £143,003) from the USA Foundation, and paid £14,371 (2023: £10,485) to fund its operating costs.

27

2025-09-19

ESPA LTD (Final Accounts 2024).2

Final Audit Report

Created: 2025-09-19 By: Adams & Co Ltd (nick@adamsandco.uk) Status: Signed Transaction ID: CBJCHBCAABAAlgg514QM9s4cfdTotnh5Dva-wkH9alML

"ESPA LTD (Final Accounts 2024).2" History

Document created by Adams & Co Ltd (nick@adamsandco.uk)

2025-09-19 - 10:50:53 GMT- IP address: 31.48.172.251

Document emailed to PETER CARR (peter@speciesprotection.com) for signature

2025-09-19 - 10:50:59 GMT

Document emailed to harry@speciesprotection.com for signature 2025-09-19 - 10:51:00 GMT

Document emailed to Hayden Priest (h.priest@uhy-calvertsmith.com) for signature 2025-09-19 - 10:51:00 GMT

Email viewed by PETER CARR (peter@speciesprotection.com) 2025-09-19 - 11:10:14 GMT- IP address: 172.226.183.2

Email viewed by Hayden Priest (h.priest@uhy-calvertsmith.com) 2025-09-19 - 11:10:27 GMT- IP address: 104.28.86.104

Document e-signed by PETER CARR (peter@speciesprotection.com)

Signature Date: 2025-09-19 - 11:21:37 GMT - Time Source: server- IP address: 86.176.194.91

Email viewed by harry@speciesprotection.com

2025-09-19 - 11:27:47 GMT- IP address: 172.225.145.7

Signer harry@speciesprotection.com entered name at signing as H C Taylor 2025-09-19 - 11:28:51 GMT- IP address: 141.8.8.185

Document e-signed by H C Taylor (harry@speciesprotection.com) Signature Date: 2025-09-19 - 11:28:53 GMT - Time Source: server- IP address: 141.8.8.185

Document e-signed by Hayden Priest (h.priest@uhy-calvertsmith.com) Signature Date: 2025-09-19 - 15:02:38 GMT - Time Source: server- IP address: 86.191.53.2

Agreement completed. 2025-09-19- 15".02".38 GMT . Adobe Acrobat Sign