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2021-12-31-accounts

UK

CHARITY NUMBER: 1185926

UNAUDITED

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

OL PEJETA CONSERVANCY UK

CONTENTS

Administrative Information.....................................4 Trustees Report..................................................8-15 Independent Examiner’s Report..........................16 Statement of Financial Activities........................18 Balance Sheet.......................................................19 Statement of Cash Flows.....................................20 Notes to the Financial Statements..................21-31

Urs Hungerbühler

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Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 31 December 2021

Full Name of Charity Ol Pejeta Conservancy UK

Other Names the Charity Uses

Ol Pejeta UK, OPC UK

Registered Charity Number 1185926

Office Address

Trustees

Chief Executive Officer

Administrator

Bankers

Unit 12, Ladycross Business Park Hollow Lane

Dormansland Lingfield Surrey RH7 6PB

Joanna Elliott (Chair) Charles Graham (Secretary) Annette Lanjouw Patrick Green

Richard Vigne (resigned 29 July 2022) Dougal Freeman (Treasurer, appointed 6 May 2021) Justin Heath (appointed 26 May 2022)

Hetal Ganatra

Chapel and York International Limited Unit 12, Ladycross Business Park

Hollow Lane

Dormansland

Lingfield

Surrey RH7 6PB

The Co-operative Bank PLC

Business Banking

Delf House

Porini Rhino Camp

Southway Skelmersdale WN8 6GH

Independent Examiner

Kreston Reeves LLP

9 Donnington Park 85 Birdham Road

Chichester West Sussex PO20 7AJ

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Keeping curiosity wild
©
2015
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Endana Secondary
& Primary School
Mt Kenya
JAMBO MUTARA TENTED CAMP NANYUKI
KAMOK
GATE HQ GATE OL PEJETA
MUTARA CONSERVATION AREA Muturu Plain CONSERVANCY
WILDLIFE SERAT GATE
CORRIDOR 1 TO NANYUKI
& NAIROBI NAIROBI
Loirugurugu Plain
WILDLIFE
TO RUMURUTI, CORRIDOR 2 MOUNT KENYA
NAKURU & NAVAISHA Serat Plain WILDLIFE ESTATE (MKWE)
Oryx Plain
WILDLIFE 2 7 MOMBASA
CORRIDOR 3 OL PEJETA 5
KAMOK BUSH CAMP MURERA
Ol Pejeta Dam
PORINI Airstrip DONGA MURERA
RHINO CAMP Ewaso Ngiro River 3 DONGA CAMPSITE
Rhino PELICAN HOUSE
Lodru Plain Zebra Plain 6 Cemetery
OL LERAI Pelican Dam
CAMPSITE 8
Lodru Dam 1 CAMPSITEEWASO HIPPO HIDEHippo Hide KONGONI DONGA AcaciaDam
Ngerenyi Plain
CAMPSITE Marura
4 9 Dam
OL PEJETA 11 Baraka the MORANI
Sirima Dam 2 HOUSE Elephant Bridge Black Rhino INFORMATION
Tangi Nyeusi Plain KICHECHE Airstrip Marsh Viewpoint CENTRE
MARBE LAIKIPIA CAMP 12 Grant’s Plain 10 MORANI’S RESTAURANT
EQUATOR SIRIMA CHIMPANZEESANCTUARY Spoonbill Dam Elephant Dam
Equator
RIFT VALLEY Sign
Gatune Plain ADVENTURES 13 1
SWEETWATERS
RONGAI GATE
Sirima Dam Scott’s Plain SERENA CAMP TO NANYUKI
Sidai Plain Marura Medical Sweetwaters
Dispensary Secondary School
Withare
Medical Ngobit River
Dispensary
LOIDIEN
OL PEJETA
SAFARI
COTTAGES
DISCOVERING
OL PEJETA CONSERVANCY AND WHEAT AREA
MUTARA CONSERVATION AREA
A ROLE MODEL FOR CONSERVATION
ROADS ENDANGERED SPECIES ENCLOSURE Ol Pejeta Conservancy works to conserve wildlife,
ADC FIREBREAKS ANIMAL ‘DAMS’ provide a sanctuary for great apes and to generate
income through wildlife tourism and complimentary
MAIN ROAD JUNCTION NUMBERS enterprises for re-investment in conservation and
ALL WEATHER ROADS SWEETWATERS CHIMPANZEE SANCTUARY community development.
Visiting hours 10.00am to 4.00pm
BUSH TRACKS
SELFCAMPING SITES/PICNIC SITES/COTTAGES
RIVERS
RHINO GRAVEYARD
PLAINS For all the rhinos poached on Ol Pejeta
Kilometres
MAIN CONSERVATION AREA MAJOR CAMPS AND LODGES
Page 6 WILDLIFE CORRIDORS MOUNT KENYA WILDLIFE ESTATE (MKWE) 0 1 2 3 4 5 Page 7
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MESSAGE FROM OL PEJETA UK’S CEO, HETAL GANATRA

There is still much work to do in generating further awareness about the efforts to conserve our unique ecosystem, including our work with other endangered species, our approach to human-wildlife conflict management, our pioneering use of technology in conservation, and the transformational benefits of our support in the development of rural communities.

LOOKING AHEAD

GLOBAL OVERVIEW

The last few years have been like no other; the pandemic, climate change and now the war in Ukraine, combined are impacting and shaping our lives in a way we cannot comprehend.

As a sustainable conservation model, Ol Pejeta relies heavily on its ability to generate income from its commercial enterprises, in particular, tourism. Tourism has been adversely impacted during the pandemic, and this continues to be the case now with the cost-of-living crisis and soaring inflation.

Conservation’s key role in ecosystem recovery, management, and habitat connectivity has been at risk due to various factors resulting from economic pressures to climate change. These global crises have the potential to devastate and undo conservation gains and the support we have garnered from the rural communities.

As I reflect, I’m deeply grateful to all our supporters, donors, partners, and stakeholders for their incredible generosity and dedication to our mission. Thanks to your support, we have been resilient to these shocks and challenges.

We successfully diversified our income by formally establishing our global fundraising, which has provided a critical lifeline in times of need. It has enabled us to build relationships and engage with our donors and supporters; individuals, and institutions on a global scale.

The last two years have been extremely difficult for the Conservancy in Kenya, with us barely able to cover the costs for critical core operations and no investment into much-needed improvements in staff housing, welfare, and infrastructure.

Looking ahead, whilst our priority will be to help fund our core programmes – conservation and community, we will also be seeking support to fund the expansion of rhino habitat, in particular the Mutara Conservation Area, improve staff housing and other critical infrastructure, go green with solar for power, improve water management, and invest in a sustainable future through establishing an endowment.

We aim to increase our UK Board membership, attract additional expertise and bring diversity to enable us to expand our fundraising potential and generate greater awareness globally.

Our futures depend on conserving wildlife, habitats and ecosystems and ensuring the communities surrounding the Conservancy are integrated and committed to our mission. Providing these communities with the opportunity to access quality education, healthcare, clean water, energy, and income is essential to our holistic focus at Ol Pejeta.

Fundraising shall continue to be crucial to achieving our vision and our mission’s overall success and growth. Whilst fundraising is still nascent, we will continue to work hard to build on our efforts as a collective. I look forward to you joining us on this journey.

To read Ol Pejeta Conservancy Kenya’s 2021 Annual report, click here .

OL PEJETA UK

Ol Pejeta UK had its first full year of operations in 2021. We recruited our first employees early in the year and continued to build a global fundraising and communications team. We are responsible for undertaking fundraising efforts and activities to raise awareness of OPC Kenya that generate donations and grants, some of which are received directly from the donor into OPC Kenya. The team generated £2.32m aggregate global fundraising income across both organisations - Ol Pejeta Kenya and Ol Pejeta UK.

…………………………………………………………………………

It has not been an easy journey, but what I’m most proud of is our people. We have worked together passionately, diligently, and tirelessly to find innovative ways to generate much-needed funds for the conservation, and protection of wildlife and habitats.

Hetal Ganatra

CEO at Ol Pejeta Conservancy UK Global Head of Fundraising and Communications

We are now able to offer our donors tax-efficient ways to give in the UK, the USA and Canada. Our charitable status has helped provide credibility and confidence to grant makers and donors.

We welcomed Dougal Freeman as Treasurer to our UK Board of Trustees. The Board met four times during the year, providing strong governance and oversight to the charity.

Richard Vigne, Managing Director, and founder CEO left Ol Pejeta Kenya (a registered not-for profit organisation in Kenya) in November 2021 after 24 years and subsequently resigned from the Board of Trustees of Ol Pejeta Conservancy UK in July 2022.

BRAND AWARENESS

The northern white rhinos and their recovery programme have generated much worldwide attention for Ol Pejeta. The species’ risk of extinction has also highlighted the global importance of our Critically Endangered eastern black rhino – the largest population in the world.

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2021 highlights from Kenya:

REPORT OF THE TRUSTEES

For the year ended 31 December 2021

The Trustees are pleased to present their annual report together with the financial statements of accounts for the year 01 January to 31 December 2021. The Trustees confirm that the Annual Report and Financial Statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2019).

PUBLIC BENEFIT

The trustees confirm that they have complied with the Charities Act to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

OBJECTIVES AND ACTIVITIES

The charitable objects of Ol Pejeta Conservancy UK are:

Ol Pejeta UK is closely aligned with Ol Pejeta Conservancy in Kenya and fulfils its objects through direct technical support and global fundraising activities in support of wildlife and community development initiatives of the Conservancy. Having set the groundwork in 2020, the UK charity fully operationalised in 2021 and supported the work of the Conservancy.

Ol Pejeta UK aims to support the work of the Conservancy in Kenya to conserve endangered species and habitats, support the chimpanzee sanctuary and the Conservancy’s community development work. We achieve this through global fundraising and communications’ activities that deliver income and support to the Conservancy.

We aim to support work to:

Earlier in the year UK viewers were able to tune into Secret Safari, Into the Wild , a six-episode documentary series that made its debut on Channel 4. The story is told through the eyes of a team of dedicated rangers who live and work side by side with the animals. This epic documentation of day-to-day life on the conservancy, gives a behind-the-scenes glimpse into what it takes to protect and conserve biodiversity and ecosystems.

ACHIEVEMENTS AND PERFORMANCE

The establishment of Ol Pejeta UK came at a critical time for the Conservancy in Kenya. When international tourisma vital source of income that helps fund conservation and community work - continued to be impacted because of the COVID19 global pandemic, Ol Pejeta UK through its global fundraising efforts significantly contributed to help sustain the operations of the Conservancy, the chimpanzee sanctuary and community development work. Key Objectives are set by the UK charity each year and performance against these are monitored monthly. Key objectives and results in 2021 included:

Achieving these aims will help protect and conserve one of the world’s most iconic and rarest rhino species and their habitats as well as supporting the conservation of species and ecosystems that benefit from the work to protect our keystone rhino species. This includes important populations of lion, cheetah and Grevy’s zebra. Securing and maintaining additional habitat for rhino will also create important connectivity for migratory species such as elephant.

Our fundraising provides a vital source of income for the Conservancy. Two thirds of all donor funds were channelled directly into Ol Pejeta Kenya, plus grants awarded by the UK charity in support of its charitable objects.

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FUTURE PLANS

We will develop strategies to safeguard our future sustainability to ensure that we can continue to support the important conservation and community development activities in and around the Conservancy in Kenya.

Our overarching priority will be to build a solid organisation and framework able to support wildlife conservation and community development at and around the Conservancy in Kenya. As climate change continues to impact weather patterns, we are seeing increasing dry spells at the Conservancy meaning that lack of water is increasingly becoming a major issue. We will focus on developing strategies for raising funds to support core running costs of the Conservancy including support for wildlife rangers, animal caregivers (providing care for rhinos, chimps, and dogs), implementation of water and solarisation projects and preparation the Mutara Conservation area for rhinos.

Key objectives for 2022 will be to:

Cost of Raising Funds represents the cost of generating income onto Ol Pejeta UK whilst Trading Expenses represent the costs of sales in respect of bronze rhino sculptures. Charitable activities includes costs for: direct support to Ol Pejeta in Kenya, generating income directly to the Conservancy, grants awarded of £262,787 and support costs.

RESERVES POLICY

The Board of Trustees of Ol Pejeta Conservancy UK recognises the major risk of a fall in income from donations and has set a policy requiring up to 6 months and minimum 3 months core operational costs to be held in unrestricted funds as reserves. Total charity funds are £128,961 consisting of £2,000 restricted funds and £126,961 unrestricted funds. Our Unrestricted Reserves total of £126,961, is in line with our Reserves Policy requirement of £116,286.

The Policy will be reviewed annually and supported by regular monitoring of cash flow forecasts.

FINANCIAL REVIEW

RISK MANAGEMENT

The trustees have examined the major strategic, business, and operational risks which the charity faces. The main risk to the charity is its ability ensure sufficient income to support its objectives. The charity has established systems, processes, and policies to lessen and mitigate these risks.

Income increased from £6,827 in 2020 to £861,828 in 2021 as the charity fully operationalised, broken down as follows:

ORGANISATIONAL STRUCTURE, GOVERNANCE AND MANAGEMENT

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INCOME TYPE Unrestricted Restricted TOTAL INCOME
Corporates £2,425 £2,425
Individuals £108,471 £108,471
Trusts and Foundations £618,098 £51,459 £669,557
Other £7,322 £7,352
Trading Income £74,053 £74,052
TOTAL £810,369 £51,549 £861,828
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Donations from Charitable Trusts & Foundations and Individuals makes up the majority of our income. Trading income of £74,053 represents part payment relating to bronze rhino sculptures and other income of £7,322 includes support from a local council for an education programme and a merchandise partnership.

Expenditure by Ol Pejeta UK to deliver its charitable objectives increased from £530 in 2020 to £739,164 in 2021 reflecting that the charity became fully operational during 2021. Expenditure can be broken down as follows:

EXPENDITURE TYPE AMOUNT
Cost of Raising Funds £136,127
Trading Expenses £38,667
Charitable activities £564,370
TOTAL £739,164

Principal costs to the charity to enable it to deliver its charitable objectives are staff salaries and consultancy fees.

Ol Pejeta Conservancy UK is a Charitable Incorporated Organisation established on 19 October 2019. Ol Pejeta Conservancy UK’s governing document is its Constitution and its only voting members are its Board of Trustees. The charity was established with four founding Trustees, and as at July 2022 has six Trustees. The Trustees meet four times per annum and intermittently as required to deal with the routine business of the charity.

A small team of staff in two main departments, Voluntary Funding (focusing on Individuals) and Partnerships (focusing on organisations), is led by CEO, Hetal Ganatra. Regular management meetings are used to make decisions informed by results and working closely with the Board of Trustees and the CEO and senior management in Kenya.

Ol Pejeta UK furthers its objectives by the provision of grants to organisations. As a result, we have developed a policy and process for grant making. In following this, each grant is presented with recommendations to the Board of Trustees for final decision-making and approval before being awarded.

The charity works with Human Resource specialist, Edelweiss HR Limited which provides advice in all matters relating to Human Resources including benchmarking salaries and advising on pay and remuneration of key management personnel.

The charity works closely with and supports Ol Pejeta Conservancy Kenya in fulfilment of its charitable objectives.

Trustee Selection

Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Prospective trustees undergo a full due diligence and vetting procedures before being considered for appointment. All new Trustees undergo orientation with existing Trustees and induction with the CEO of Ol Pejeta Conservancy UK.

All trustees give their time freely and no trustee remuneration or expenses was paid in the period. In addition, no out of pocket expenses were reimbursed to the trustees and no trustee had any beneficial interest in any contract with the charity during the period.

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Chief Executive Officer

Hetal Ganatra is the CEO of Ol Pejeta Conservancy UK and the Global Head of Fundraising and Communications. Hetal has been with Ol Pejeta Conservancy since July 2019. She has led the establishment of and executes the CIO and global fund raising operations. Under her leadership, Ol Pejeta’s fundraising income globally, for both Ol Pejeta UK and Ol Pejeta Kenya, has grown three-fold, from £800k to £2.32m, and strong governance including systems and processes that have been embedded into the UK Charity.

Polices and Procedures

Ol Pejeta Conservancy UK has established a suite of policies and procedures to guide and ensure its operation follows models of best practice. These include Conflict of Interest, Grant making, Anti-money laundering, Safeguarding, Anti-bribery, Reserves, Financial Controls, Data Protection, Privacy, and Human Resources. These are reviewed and updated on a regular basis. We work closely with Board members and Senior Management in Kenya to ensure alignment of values and best practice across the two organisations.

Policy on Grantmaking: Ol Pejeta UK meets its objectives to promote the preservation, conservation and protection of Africa’s wildlife and natural heritage and the education of the public by directly supporting the work of Ol Pejeta Conservancy and by awarding grants to the Conservancy. The Conservancy in Kenya is leading the way in Africa in the conservation of endangered species holding the world’s largest population of Critically Endangered eastern black rhino and sustaining growth rates above the national target. By supporting Ol Pejeta Conservancy Kenya, we are helping to conserve some of the worlds most endangered species, expanding habitat for rhinos and creating important connectivity for migratory species.

Ol Pejeta UK has developed a grant making policy as well as application, grant management processes and sub grant agreements with detailed terms and conditions to enable grants to be awarded and monitored in support of its objects.

Ol Pejeta UK places a strong emphasis on good governance with strong financial management, including robust internal and financial controls guided by our advisors and board of Trustees. We implement risk management procedures and promote transparency and accountability to ensure that donors can trust and have confidence in us and our work. We undertake detailed due diligence procedures before awarding grants in order to be assured of the use of donor funds and build confidence that we know the people and organisations we work with and are able to identify and manage associated risks.

Grant applicants are required to fulfil / demonstrate the following criteria:

RELATIONSHIPS WITH ANY RELATED PARTIES

The following Trustees are also Trustees of Ol Pejeta Conservancy in Kenya: Joanna Elliott, Annette Lanjouw and Richard Vigne. Justin Heath is a trustee of Ol Pejeta Conservancy UK and is the Chief Executive Officer of Ol Pejeta Conservancy Kenya.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Charity ‘s trustees are responsible for preparing a trustee’s annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom accepted Accounting Practice).

The law applicable to Charities requires the Charity’s trustees to prepare financial statements for each period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Conservancy and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and reports) regulations, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

DECLARATION

The report was approved by the trustees of the Charity on October 20, 2022 and signed on their behalf by:

…………………………………………………………………………

Dougal Freeman Treasurer

The wider network with which the charity works

Ol Pejeta UK partnered with the following organisations in 2021 to help meet these objects:

As Ol Pejeta Conservancy, we also work with a wider network of partners and funders to achieve our mission.

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF OL PEJETA CONSERVANCY UK (‘THE CHARITY’)

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2021.

RESPONSIBILITIES AND BASIS OF REPORT

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

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

INDEPENDENT EXAMINER’S STATEMENT

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I 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 that in any material respect:

  1. Accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. The accounts do not accord with those records; or

  2. 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.

This report is made solely to the Charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an Independent Examiner’s Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for my work or for this report.

Signed: ………………………………………………………… Date: 21[st] October 2022

Lucy Hammond FCA

Kreston Reeves LLP Chartered Accountants Chichester

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Through its global fundraising
activities, Ol Pejeta UK supports the
wildlife and community development
initiatives of the Conservancy.
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STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 December 2021

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Restricted Unrestricted Total Total
funds 2021 funds 2021 funds 2021 funds 2020
Note £ £ £ £
Income from:
Donations and legacies 3 51,459 736,316 787,775 6,827
Other trading activities 4 - 74,053 74,053 -
Total income 51,459 810,369 861,828 6,827
Expenditure on:
Raising funds:
Costs of raising funds 5 - 136,127 136,127 68-
- 38,667 38,667
Trading expenses
Charitable activities 6 49,459 514,911 564,370 462
Total expenditure 49,459 689,705 739,164 530
Net movement in funds 2,000 120,664 122,664 6,297
Reconciliation of funds:
- -
Total funds brought forward 6,297 6,297
Net movement in funds 2,000 120,664 122,664 6,297
Total funds carried forward 2,000 126,961 128,961 6,297
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The Statement of Financial Activities includes all gains and losses recognised in the year.

BALANCE SHEET

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As at 31 December 2021
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2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 11 2,795 -
-
2,795
Current assets
Debtors 12 56,888 -
Cash at bank and in hand 154,866 6,297
211,754 6,297
Creditors: amounts falling 13 (85,588) -
due within one year
Net current assets 128,961 6,297
Total net assets 128,961 6,297
Charity funds
Restricted funds 14 2,000 -
Unrestricted funds 14 126,961 6,297
Total funds 128,961 6,297
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The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

The notes on pages 21 to 31 form part of these financial statements.

…………………………………………………………………………

Dougal Freeman Treasurer Date: Oct 20, 2022

The notes on pages 21 to 31 form part of these financial statements.

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STATEMENT OF CASH FLOWS

For the year ended 31 December 2021

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021

1. GENERAL INFORMATION

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2021 2020
Note £ £
Cash flows from operating activities
Net cash used in operating activities 16 153,286 6,297
Cash flows from investing activities
-
Purchase of tangible fixed assets (4,717)
-
Net cash (used in)/provided by investing activities (4,717)
Cash flows from financing activities
- -
Net cash provided by financing activities
Change in cash and cash equivalents in the year 148,569 6,297
-
Cash and cash equivalents at the beginning of the year 6,297
Cash and cash equivalents at the end of the year 17 154,866 6,297
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The notes on pages 21 to 31 form part of these financial statements.

Ol Pejeta Conservatory UK is a charitable incorporated organisation registered with the Charity Commission number 1885926.

2. ACCOUNTING POLICIES

2.1 Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Ol Pejeta Conservancy UK 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.

2.2 Going concern

The impact of the COVID-19 virus has been assessed by the Trustees. After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

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

2.4 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 activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity 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 Charity’s objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to

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conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.11 Pensions

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

2.5 Foreign currencies

2.12 Fund accounting

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 Statement of Financial Activities.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets 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 basis: Office equipment - 36 months straight-line basis.

2.7 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.

2.8 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.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity 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 Charity 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.

3. INCOME FROM DONATIONS AND LEGACIES

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Restricted Unrestricted Total Total
funds 2021 funds 2021 funds 2021 funds 2020
£ £ £ £
Donations 51,459 736,316 787,775 6,827
Total 2020 - 6,827 6,827 -
4. INCOME FROM OTHER TRADING ACTIVITIES
Income from non charitable trading activities
Unrestricted Total Total
funds 2021 funds 2021 funds 2020
£ £ £
-
Non-charitable trading 74,053 74,053
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2.10 Financial instruments

The Charity 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.

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5. EXPENDITURE ON RAISING FUNDS

Costs of raising funds

----- Start of picture text -----
Unrestricted Total Total
funds 2021 funds 2021 funds 2020
£ £ £
Other fundraising costs 32,170 32,170 10
-
Consultancy and professional fees 78,092 78,092
Bank fees 776 776 58
Staff costs 25,089 25,089 -
Total 2021 136,127 136,127 68
Total 2020 68 68 -
Other trading expenses
Unrestricted Total Total
funds 2021 funds 2021 funds 2020
£ £ £
-
Other trading expenses 38,667 38,667
Total 2020 - - -
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6. ANALYSIS OF EXPENDITURE BY ACTIVITIES

----- Start of picture text -----
Activities
Grant funding Support Total Total
undertaken
of activities costs funds funds
directly
2021 2021 2021 2020
2021
£ £ £
Conservation 250,461 262,687 51,222 564,370 462
Total 2020 - - 462 462
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6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Analysis of direct costs

----- Start of picture text -----
Conservation Total Total
2021 funds 2021 funds 2020
£ £ £
Staff costs 214,732 214,732 -
-
Depreciation 1,922 1,922
Staff costs and recruitment 8,688 8,688 -
Travel and entertainment 6,483 6,483 -
-
Exchange gain or loss (401) (401)
Other direct costs 19,037 19,037 -
-
250,461 250,461
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Included within direct costs is expenditure from restricted funds of £2,749 (2020: £nil) relating entirely to staff costs. All other direct costs were from unrestricted funds in 2021 and 2020.

Analysis of support costs

----- Start of picture text -----
Conservation Total Total
2021 funds 2021 funds 2020
£ £ £
Staff costs 32,996 32,996 -
-
Consultancy and professional fees 12,000 12,000
Computer overheads and consumables 2,810 2,810 456
Insurances 881 881 -
Telephone, stationary and postage 390 390 -
Sundry expense 176 176 6
Bank charges 219 219 -
-
Accountancy fees 1,750 1,750
51,222 51,222 462
Total 2020 462 462
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All support costs were from unrestricted funds in 2021 and 2020.

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7. ANALYSIS OF GRANTS

Grants to Institutions
2021		 Total
funds 2021		 Total
funds 2020
£ £ £
Grants, Conservation 262,687 262,687 -

Grants to institutions consisted of grants paid to Ol Pejeta Conservancy Kenya totalling £262,687 (2020 - £nil). Included within grants to institutions is expenditure from restricted funds of £46,710 (2020: £nil).

8. INDEPENDENT EXAMINER’S REMUNERATION

The independent examiner’s remuneration amounts to an independent examiner fee of £2,160 including VAT.

9. STAFF COSTS

----- Start of picture text -----
2021 2020
£ £
-
Wages and salaries 236,286
-
Social security costs 23,005
-
Contribution to defined contribution pension schemes 13,526
-
272,817
The average number of persons employed by the Charity during the year was as follows:
2021 2020
No No
Average monthly number of employees 5 -
----- End of picture text -----

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2021 2020
No No
In the band £80,001 - £90,000 1 -

10. TRUSTEES’ REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).

During the year ended 31 December 2021, no Trustee expenses have been incurred (2020 - £NIL).

11. TANGIBLE FIXED ASSETS

----- Start of picture text -----
Office
equipment
£
Cost or valuation
Additions 4,717
At 31 December 2021 4,717
Depreciation
Charge for the year 1,922
At 31 December 2021 1,922
Net book value
At 31 December 2021 2,795
At 31 December 2020 -
----- End of picture text -----

12. DEBTORS

----- Start of picture text -----
2021 2020
£ £
Trade debtors 36,966 -
-
Prepayments and accrued income 19,922
-
56,888
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The total employee benefits of the key management personnel of the charity were £100,033 and employer pension contributions were £5,408.

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13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

----- Start of picture text -----
2021 2020
£ £
Trade creditors 19,588 -
-
Other taxation and social security 25,583
Accruals and deferred income 40,417 -
-
85,588
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14. STATEMENT OF FUNDS

Statement of funds - current year

----- Start of picture text -----
Balance at 1 Balance at
January Income Expenditure 31 December
2021 2021
£ £ £ £
Unrestricted funds
General Funds 6,297 810,369 (689,705) 120,691
Restricted funds
Communications - 2,000 - 2,000
Conservation - 49,459 (49,459) -
-
51,459 (49,459) 2,000
Total of funds 6,297 861,828 (739,164) 128,961
----- End of picture text -----

The communications fund represents grants received for the purpose of supporting communications.

The conservation fund represents grants received for the purpose of upgrading ranger accommodation.

Statement of funds - prior year

----- Start of picture text -----
Balance at
Income Expenditure 31 December
2021
£ £ £
Unrestricted funds
General Funds 6,827 (530) 6,297
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Analysis of net assets between funds - current year
Restricted Unrestricted Total
funds funds funds
2021 2021 2021
£ £ £
-
Tangible fixed assets 2,795 2,795
Current assets 2,000 209,754 211,754
-
Creditors due within one year (85,588) (85,588)
Total 2,000 126,961 128,961
Analysis of net assets between funds - prior year
Unrestricted Total
funds funds
2020 2020
£ £
Current assets 6,297 6,297
Total 6,297 6,297
----- End of picture text -----

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16. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

----- Start of picture text -----
2021 2020
£ £
Net income for the year (as per Statement of Financial Activities) 122,664 6,297
Adjustments for:
-
Depreciation charges 1,922
-
Decrease/(increase) in debtors (56,888)
Increase in creditors 85,588 -
Net cash provided by operating activities 153,286 6,297
17. ANALYSIS OF CASH AND CASH EQUIVALENTS
2021 2020
£ £
Cash in hand 154,866 6,297
Total cash and cash equivalents 154,866 6,297
----- End of picture text -----

19. PENSION COMMITMENTS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £13,526 (2020: £nil). £Nil contributions were payable to the fund at balance sheet date.

20. RELATED PARTY TRANSACTIONS

Ol Pejeta Conservancy UK (OPC UK) is related to Ol Pejeta Conservancy in Kenya (OPC Kenya) due to the two entities sharing a number of the same trustees. OPC Kenya, in close liaison with the Government of Kenya and the Kenya Wildlife Service, manages and conserves the wildlife resources in Ol Pejeta Conservancy. During the year OPC UK awarded funding of £262,687 (2020: £nil), for specific projects and other charitable initiatives within Ol Pejeta Conservancy as described in the annual report of the trustees.

18. ANALYSIS OF CHANGES IN NET DEBT

At 1
January
2021		 Cash flows At 31
December
2021
£ £ £
Cash at bank and in hand 6,297 148,569 154,866
6,297 148,569 154,866

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UK

Ol Pejeta Conservancy UK For more information please contact Gail Thacker, UK Operations and Fundraising Manager: gail.thacker@olpejetaconservancy.org | +44(0) 7747 115287