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2022-12-31-accounts

UK

CHARITY NUMBER: 1185926

UNAUDITED

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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Ol Pejeta Conservancy UK | Trustees’ Report 2022

OL PEJETA CONSERVANCY UK

CONTENTS

Reference and Administrative Details of the Charity, its Trustees and Advisers..........4 Trustees’ Report.............................................................................................................8-14 Independent Examiner’s Report.......................................................................................16 Statement of Financial Activities......................................................................................17 Balance Sheet.....................................................................................................................18 Statement of Cash Flows...................................................................................................19 Notes to the Financial Statements...............................................................................21-31

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 31 December 2022

Full Name of Charity Ol Pejeta Conservancy UK

Other Names the Charity Uses Ol Pejeta UK, OPC UK

Registered Charity Number 1185926

Office Address

Unit 12, Ladycross Business Park Hollow Lane Dormansland Lingfield Surrey RH7 6PB

Trustees Joanna Elliott (Chair) Charles Graham (Secretary) Annette Lanjouw Patrick Green (resigned 22 October 2022) Richard Vigne (resigned 29 July 2022) Dougal Freeman (Treasurer) Justin Heath (CEO of Ol Pejeta Kenya, appointed 26 May 2022)

Chief Executive Officer

Hetal Ganatra

Chapel and York International Limited Unit 12, Ladycross Business Park Hollow Lane, Dormansland LINGFIELD Surrey RH7 6PB

Administrator

The Co-operative Bank PLC Business Banking Delf House Southway Skelmersdale WN8 6GH

Bankers

Lucy Hammond BSc FCA Kreston Reeves LLP 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ

Independent Examiner

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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
Keeping curiosity wild
©
2015
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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

TRUSTEES’ REPORT

to fund. A small fundraising team, with staff mostly in the UK, raises funds globally to support Ol Pejeta’s mission. Total income from fundraising activities in 2022 was c. £2.3m. Approximately 60% of this income was channelled directly into Ol Pejeta Kenya and did not flow through Ol Pejeta UK. Furthermore, grants were awarded to Ol Pejeta Kenya from the UK charity in support of its charitable objects.

For the year ended 31 December 2022

2022 highlights from Ol Pejeta Conservancy Kenya:

The Trustees are pleased to present their annual report together with the financial statements of accounts for the year 01 January to 31 December 2022. 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 were updated in 2022 to closely align with that of the Conservancy in Kenya. Our charitable objects are:

Ol Pejeta Conservancy UK fulfils its charitable objects through direct technical support, global fundraising activities and awareness creation in support of wildlife and community development initiatives of the Conservancy.

Our efforts support Ol Pejeta Conservancy to achieve its mission to conserve biodiversity, security for wildlife and improve community livelihoods in and around Ol Pejeta Conservancy, particularly:

ACHIEVEMENTS AND PERFORMANCE

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 other species including 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.

The establishment of Ol Pejeta UK at the end of 2019 came at a critical time, providing vital support and income during and after the global COVID-19 pandemic which saw a massive downturn in commercial income for the Conservancy. 2022 was a year of recovery for the Conservancy and working towards building a strong future.

Fundraising has become a key pillar of income generation for both entities (Ol Pejeta Kenya and Ol Pejeta UK), representing 30% of total income in 2022. Total income from fundraising activities in both entities in 2022 was c. £2.3m. Approximately 60% of this income was channelled directly into Ol Pejeta Kenya and did not flow through Ol Pejeta UK. Furthermore, grants were awarded to Ol Pejeta Kenya from the UK charity in support of its charitable objects. Income into Ol Pejeta UK increased from £861,828 to £971,903 whilst our expenditure increased only slightly from £739,164 to £741,074.

Key Objectives are set by the UK charity each year and performance against these are monitored monthly. During 2022 we continued to build a solid organisation and framework to grow our fundraising and enable us to support wildlife conservation and community development going forwards.

Fundraising is a vital source of income for the Conservancy that enables funds to be used where the need is greatest and supports projects such as infrastructure, expansion and connectivity, that would otherwise be difficult

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

2022 was a period of change for Ol Pejeta Kenya as its long-standing Managing Director, Richard Vigne, resigned and a new CEO, Justin Heath, was appointed. We were delighted to welcome Justin onto the UK Board of Trustees in May. His contributions will ensure alignment of the UK charity’s objectives to the those of the Conservancy in Kenya and will help garner vital support for conservation and community development work.

FUTURE PLANS

We aim for 2023 to be a year of growth where fundraising can become more established, secure and in a strong position to award higher value grants to Kenya in addition to raising funds that go directly into Kenya (in 2022 the UK fundraising team channelled 60% of all income raised directly into Kenya).

Specific objectives for 2023 are to:

Donations from Charitable Trusts & Foundations make up the majority of our income. Donations from Individuals also form an important component of our overall income comprising of donations made direct to the UK charity and via our partner foundations in the US and Canada. During 2022, we received the final tranche of a payment relating to the sale of bronze rhino sculptures included above under Trading Income, the gain from which was applied for our charitable purposes.

Expenditure to deliver charitable objectives remained fairly static increasing slightly from £739,164 in 2021 to £741,074 in 2022 broken down as follows:

EXPENDITURE TYPE AMOUNT
Cost of Raising Funds 149,872
Trading Expenses 77,333
Charitable activities 513,869
TOTAL £741,074

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

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

RESERVES POLICY

The Board of Trustees has reviewed its policy for maintaining Reserves. In recognition of the close relationship with Ol Pejeta in Kenya and a commitment for each organisation to support the other, Ol Pejeta UK aims to keep six months core operational costs as reserves and requiring a minimum of three months core operational costs to be held in unrestricted funds. Total charity funds as of 31 December, 2022, are £359,790 (2021: £128,961) consisting of £29,020 restricted funds (2021: £2,000) and £330,770 unrestricted funds (2021: £126,961). Our Unrestricted Reserves total of £330,770 meets our reserves requirements.

FINANCIAL REVIEW

Income increased from £861,828 in 2021 to £971,903 in 2022 as the charity fully operationalised, broken down as follows:

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INCOME TYPE Unrestricted Restricted TOTAL INCOME
Corporates 15,008 15,008
Individuals 169,357 9,066 178,423
Trusts and Foundations 607,664 19,954 627,618
Other 7,448 7,448
Trading Income 143,405 143,405
TOTAL 942,883 29,020 971,903
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The Policy will be regularly reviewed, supported by regular monitoring of performance against budget and cash flow forecasts.

RISK MANAGEMENT

The trustees have examined the major strategic, business, and operational risks which the charity faces. The main risk is to have sufficient funding available to support operations in the UK as the main cost centre for Ol Pejeta’s fundraising. The charity has established commitment from Ol Pejeta Kenya to support the UK if needed, and ensured robust systems, processes, and policies are in place to lessen and mitigate these risks.

ORGANISATIONAL STRUCTURE, GOVERNANCE AND MANAGEMENT

Ol Pejeta Conservancy UK is a Charitable Incorporated Organisation established on 19 October 2019. As amended on 13 June 2022 and 08 August 2022, 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 of 31 December 2022 has five Trustees with a plan to recruit an additional one or two Trustees in 2023. The Trustees meet three to four times per annum and intermittently as required to deal with the routine business of the charity.

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

The fundraising department consists of two teams, Voluntary Funding (focusing on individuals) and Partnerships (focusing on organisations), 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 request is evaluated thoroughly and 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 personnel.

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

Trustee Selection

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 the following criteria:

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. Two Trustees are nominated by Ol Pejeta Kenya and Ol Pejeta Kenya’s CEO is an ex-officio trustee whilst employed in that role. Prospective trustees undergo 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.

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 fundraising operations. Under her leadership, Ol Pejeta’s fundraising income globally, for both Ol Pejeta UK and Ol Pejeta Kenya, has grown, from £800k to c. £3m, and strong governance, systems and processes have been embedded into the UK Charity and fundraising operations.

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, Grantmaking, Anti-money Laundering, Safeguarding, Anti-bribery, Reserves, Financial Controls, Data Protection, Privacy, and Human Resources. All policies will be reviewed and updated during 2023 and new ones developed as required. 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 charitable objectives by directly supporting the work of Ol Pejeta Conservancy, generating income directly into the Conservancy in Kenya 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. Its work to save the northern white rhino from extinction is playing a vital role in raising awareness globally about the plight of the world’s biodiversity. And Sweetwater’s Chimpanzee Sanctuary, as well as caring for rescued chimps, is an important tool for education and awareness raising about the illegal wildlife trade. Ol Pejeta’s work with its surrounding communities helps to improve livelihoods, especially through education. By supporting Ol Pejeta Conservancy Kenya, we are helping to conserve some of the worlds most endangered species, raising awareness of biodiversity loss whilst supporting those communities that live closest to it.

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.

During 2023, we will streamline and strengthen our grantmaking processes to ensure a robust and efficient system as we increase our grant making in support of our charitable objects.

The wider network with which the charity works

In 2022, Ol Pejeta UK partnered with a variety of organisations to help fulfil its charitable objects, including the following:

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

RELATIONSHIPS WITH ANY RELATED PARTIES

The following Trustees are also Trustees of Ol Pejeta Conservancy in Kenya: Joanna Elliott, Annette Lanjouw. Justin Heath, UK Trustee is 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:

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

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 the 23[rd] June 2023 and signed on their behalf by:

Dougal Freeman Board Trustee and Treasurer

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Rio the Photographer
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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

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 2022.

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: 29[th] June 2023

Lucy Hammond BSc FCA

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 December 2022

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Restricted Unrestricted Total Total
funds 2022 funds 2022 funds 2022 funds 2021
Note £ £ £ £
Income from:
Donations and legacies 3 29,020 799,478 828,498 787,775
Other trading activities 4 - 143,405 143,405 74,053
Total income 29,020 942,883 971,903 861,828
Expenditure on:
Raising funds:
Costs of raising funds 5 - 149,872 149,872 136,127
- 77,333 77,333 38,667
Trading expenses
Charitable activities 7 2,000 511,869 513,869 564,370
Total expenditure 2,000 739,074 741,074 739,164
Net movement in funds 27,020 203,809 230,829 122,664
Reconciliation of funds:
Total funds brought forward 2,000 126,961 128,961 6,297
Net movement in funds 27,020 203,809 230,829 122,664
Total funds carried forward 29,020 330,770 359,790 128,961
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The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 2 3 to 33 form part of these financial statements.

Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

BALANCE SHEET

As at 31 December 2022

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2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 11 2,944 2,795
2,944 2,795
Current assets
Debtors 12 70,419 56,888
Cash at bank and in hand 312,824 154,866
383,243 211,754
Creditors: amounts falling
13 (26,397) (85,588)
due within one year
Net current assets 359,790 128,961
Total net assets 359,790 128,961
Charity funds
Restricted funds 14 29,020 2,000
Unrestricted funds 14 330,770 126,961
Total funds 359,790 128,961
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STATEMENT OF CASH FLOWS

For the year ended 31 December 2021

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2022 2021
Note £ £
Cash flows from operating activities
Net cash used in operating activities 16 157,958 153,286
Cash flows from investing activities
-
Purchase of tangible fixed assets (4,717)
-
Net cash (used in)/provided by investing activities (4,717)
Change in cash and cash equivalents in the year 157,958 148,569
Cash and cash equivalents at the beginning of the year 154,866 6,297
Cash and cash equivalents at the end of the year 17 312,824 154,866
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The notes on pages 23 to 33 form part of these financial statements.

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

Dougal Freeman Treasurer Date: 23/06/2023

The notes on pages 23 to 33 form part of these financial statements.

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

1. GENERAL INFORMATION

Ol Pejeta Conservatory UK is a charitable incorporated organisation registered with the Charity Commission number 1185926.

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

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

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

All expenditure is inclusive of irrecoverable VAT.

2.5 Foreign currencies

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.

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.

2.12 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 Charity and which have not been designated for other purposes.

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.

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 2022 funds 2022 funds 2022 funds 2021
£ £ £ £
Donations 29,020 799,478 828,498 787,775
Total 2021 51,459 736,316 787,775 -
4. INCOME FROM OTHER TRADING ACTIVITIES
Income from non charitable trading activities
Unrestricted Total Total
funds 2022 funds 2022 funds 2021
£ £ £
Non-charitable trading 143,405 143,405 74,053
Total 2021 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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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

5. EXPENDITURE ON RAISING FUNDS

Costs of raising funds

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Unrestricted Total Total
funds 2022 funds 2022 funds 2021
£ £ £
Other fundraising costs 64,919 64,919 32,170
Consultancy and professional fees 30,055 30,055 78,092
Bank fees 1,174 1,174 776
Staff costs 53,724 53,724 25,089
Total 2022 149,872 149,872 136,127
Total 2021 136,127 136,127 -
Other trading expenses
Unrestricted Total Total
funds 2022 funds 2022 funds 2021
£ £ £
Other trading expenses 77,333 77,333 38,667
Total 2021 38,667 38,667 -
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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
2022 2022 2022 2021
2022
£ £ £
Conservation 379,035 21,448 113,386 513,869 564,370
Total 2021 250,461 262,687 51,222 564,370 -
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6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Analysis of direct costs

----- Start of picture text -----
Conservation Total Total
2022 funds 2022 funds 2021
£ £ £
Staff costs 345,875 345,875 214,732
Depreciation 2,051 2,051 1,922
Staff costs and recruitment 14,600 14,600 8,688
Travel and entertainment 15,592 15,592 6,483
Exchange gain or loss 675 675 (401)
Other direct costs 242 242 19,037
379,035 379,035 250,461
Total 2021 250,461 250,461 -
----- End of picture text -----

Included within direct costs is expenditure from restricted funds of £nil (2021: £2,749 relating entirely to staff costs). All other direct costs were from unrestricted funds in 2022 and 2021.

Analysis of support costs

----- Start of picture text -----
Conservation Total Total
2022 funds 2022 funds 2021
£ £ £
Staff costs 71,944 71,944 32,996
Consultancy and professional fees 23,760 23,760 12,000
Computer overheads and consumables 4,172 4,172 2,810
Insurances 247 247 881
Telephone, stationary and postage 673 673 390
Sundry expense 2,780 2,780 176
Bank charges 350 350 219
Accountancy fees 9,460 9,460 1,750
113,386 113,386 51,222
Total 2021 51,222 51,222
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All support costs were from unrestricted funds in 2022 and 2021.

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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

7. ANALYSIS OF GRANTS

Grants to Institutions
2022		 Total
funds 2022		 Total
funds 2021
£ £ £
Grants, Conservation 21,448 21,448 262,687
262,687 262,687 -

Grants to institutions consisted of grants paid to Ol Pejeta Conservancy Kenya totalling £21,448 (2021: £262,687). Included within grants to institutions is expenditure from restricted funds of £2,000 (2021: £46,710).

8. INDEPENDENT EXAMINER’S REMUNERATION

The independent examiner’s remuneration amounts to an independent examiner fee of £3,840 (2021 - £4,680), and tax advisory services of £Nil - (2021 - £1,890).

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

2022 2021
No No
In the band £60,001 - £70,000 2 -
In the band £80,001 -£90,000 - 1
In the band £100,001 -£110,000 1 -

The total employee benefits of the key management personnel of the charity were £156,518 and employer pension contributions were £11,625.

10. TRUSTEES’ REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2021 -£NIL).

During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 -£NIL).

9. STAFF COSTS

----- Start of picture text -----
2022 2021
£ £
Wages and salaries 399,350 236,286
Social security costs 43,751 23,005
Contribution to defined contribution pension schemes 28,442 13,526
471,543 272,817
The average number of persons employed by the Charity during the year was as follows:
2022 2021
No No
Average monthly number of employees 7 5
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11. TANGIBLE FIXED ASSETS

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Office
equipment
£
Cost or valuation
At 1 January 2022 4,717
Additions 2,200
At 31 December 2022 6,917
Depreciation
At 1 January 2022 1,922
Charge for the year 2,051
At 31 December 2022 3,973
Net book value
At 31 December 2022 2,944
At 31 December 2021 2,795
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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

12. DEBTORS

----- Start of picture text -----
2022 2021
£ £
Trade debtors 62,677 36,966
Prepayments and accrued income 7,742 19,922
70,419 56,888
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade creditors 3,805 19,588
Other taxation and social security 19,392 25,583
Accruals and deferred income 3,200 40,417
26,397 85,588
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14. STATEMENT OF FUNDS

Statement of funds - current year

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Balance at 1 Balance at
January Income Expenditure 31 December
2022 2022
£ £ £ £
Unrestricted funds
General Funds 126,961 942,883 (739,074) 330,770
Restricted funds
Communications 2,000 - (2,000) 2,000
Conservation - - - -
- -
Conservation- Species 9,066 9,066
Resilience Fund - 19,954 - 19,954
2,000 29,020 (2,000) 29,020
Total of funds 128,961 971,903 (741,074) 359,790
----- End of picture text -----

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

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

The Resilience Fund represents funds received for organisational strengthening.

Statement of funds - prior 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) 126,961
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
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15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Analysis of net assets between funds - current year

----- Start of picture text -----
Restricted Unrestricted Total
funds funds funds
2022 2022 2022
£ £ £
-
Tangible fixed assets 2,944 2,944
Current assets 29,020 354,223 383,243
-
Creditors due within one year (26,397) (26,397)
Total 29,020 330,770 359,790
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Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Ol Pejeta Conservancy UK | Trustees’ Report and Financial Statements 2022

Analysis of net assets between funds - prior year

----- Start of picture text -----
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
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16. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

----- Start of picture text -----
2022 2021
£ £
Net income for the year (as per Statement of Financial Activities) 230,829 122,664
Adjustments for:
Depreciation charges 2,051 1,922
-
Donations in kind (fixed assets) (2,200)
Increase in debtors (13,531) (56,888)
lncrease/(decrease) in creditors (59,191) 85,588
Net cash provided by operating activities 157,958 153,286
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18. ANALYSIS OF CHANGES IN NET DEBT

At 1
January
2022		 Cash flows At 31
December
2022
£ £ £
Cash at bank and in hand 154,866 157,958 312,824
154,866 157,958 312,824

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 £28,442 (2021: £13,526). £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 £21,448 (2021: £262,687), for specific projects and other charitable initiatives within Ol Pejeta Conservancy as described in the annual report of the trustees.

At the year end OPC UK owed £Nil to OPC Kenya (2021: £Nil).

During the year the charity received donations without conditions from trustees totalling £15,500 (2021: £Nil).

17. ANALYSIS OF CASH AND CASH EQUIVALENTS

----- Start of picture text -----
2022 2021
£ £
Cash in hand 312,824 154,866
Total cash and cash equivalents 312,824 154,866
----- End of picture text -----

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UK

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

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