Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630
CHARITY NUMBER: 1185926
Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
## OL PEJETA CONSERVANCY UK
**Trustees’ Report ..................................................8-14 Independent Examiner’s Report .........................16 Statement of Financial Activities ........................18 Balance Sheet .......................................................20 Statement of Cash Flows .....................................21 Notes to the Financial Statements .....................24-35**
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
Full name of charity Ol Pejeta Conservancy UK Alternative names Ol Pejeta UK, OPC UK Trustees Joanna Elliot (Chair) Charles Graham (Secretary) Annette Lanjouw Dougal Freeman (Treasurer) Justin Heath (CEO of Ol Pejeta Kenya) Joseph Palombo Senior management Philippa Beach (Chief Fundraising Officer to July 2024) Kirstin Johnson (Interim Chief Fundraising Officer from July 2024) 1185926
Charity number
Registered office Countrywide House 23 West Bar Banbury Oxfordshire OX16 9SA
Independent examiner Ellacotts LLP Countrywide House 23 West Bar Banbury Oxfordshire OX16 9SA
Bankers The Co-operative Bank PLC Business Banking Delf House Southway Skelmersdale WN8 6GH
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**----- Start of picture text -----**
Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630
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
EWASO Hippo Hide KONGONI DONGA AcaciaDam
Lodru Dam 1 CAMPSITE HIPPO HIDE
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
**----- End of picture text -----**
ROADS ENDANGERED SPECIES ENCLOSURE ADC FIREBREAKS ANIMAL ‘DAMS’ MAIN ROAD JUNCTION NUMBERS ALL WEATHER ROADS SWEETWATERS CHIMPANZEE SANCTUARY 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 Page 6 MAIN CONSERVATION AREA MAJOR CAMPS AND LODGES WILDLIFE CORRIDORS MOUNT KENYA WILDLIFE ESTATE (MKWE)
Ol Pejeta Conservancy works to conserve wildlife, provide a sanctuary for great apes and to generate income through wildlife tourism and complimentary enterprises for re-investment in conservation and community development.
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
The trustees are pleased to present their annual report together with financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 (FRS 102)” (effective 1 January 2019).
2024 was a milestone year as the Conservancy celebrated its 20th anniversary and Ol Pejeta UK its 5th anniversary giving us an opportunity to reflect on the extraordinary journey that has brought us to where we are today – a globally recognised conservation leader. We highlight below some of the impact of our support in 2024:
- Our black rhino populations increased to **175 black rhinos** (after starting its journey 20 years ago with just 20), a testament to the hard work and dedication of our staff, donors and partners.
- We helped establish new rhino populations by **relocating six black rhinos to Loisaba Conservancy.**
## OBJECTIVES AND ACTIVITIES
The charitable objects of Ol Pejeta Conservancy UK are:
- To promote, for the benefit of the public, the preservation, conservation and protection of Africa’s wildlife and natural heritage at Ol Pejeta Conservancy, and in Laikipia county, Kenya including by undertaking related local development activities.
- To advance, for the benefit of the public, the education of the public in the preservation, conservation and protection of Africa’s wildlife and natural heritage at Ol Pejeta Conservancy, and in Laikipia county, Kenya including by undertaking related local development activities.
Ol Pejeta Conservancy UK (Ol Pejeta UK) fulfils its charitable objects through direct technical support and global fundraising activities in support of wildlife and community development initiatives of the Conservancy in Kenya.
- We are proud to report **seven consecutive years without a poaching incident** thanks to the hard work of our wildlife security staff led by Samuel Mutisya and Ndeki Kaparo.
- We strengthened our ranger team **by welcoming 21 new rangers into or Wildlife monitoring unit.**
-
- We **welcomed three new bloodhound puppies into our K9 unit.** These dogs play a vital role detecting threats, tracking potential poachers and assisting in the apprehension of suspects.
- We announced the **first successful IVF pregnancy by the biorescue project** offering hope of a new northern white rhino being born. Tragically the surrogate mother died from a bacterial infection when the fetus was just 70 days old, but more embryos will be transferred into surrogates in 2025.
- The crippling droughts of 2023 were followed by devasting floods in early 2024 that put the chimps at risk.
-
- Thanks to our supporters we were able **to repair damaged infrastructure and construct a new emergency enclosure to safeguard the chimps** in the event of further flooding.
- We continued to support neighbouring communities **providing over 800 scholarships, 10 new classrooms, facilitated over 2,500 educational visits, trained over 5,000 farmers in sustainable agricultural practices and established a market for livestock purchasing 50,000 head of cattle** helping to strengthen the local economy and pastoralist communities.
## _Public benefit_
Our work supports the Conservancy to achieve its mission to conserve biodiversity, provide security for wildlife and improve community livelihoods in and around Ol Pejeta Conservancy, particularly to:
- Maintain security operations throughout the Conservancy to keep wildlife and people safe.
- Lead the recovery of the Eastern black rhino through supporting our key 1 population.
- Monitor habitat and wildlife to inform conservation management.
- Save the northern white rhino from extinction through support to the BioRescue initiative.
- Improve sustainability through improving infrastructure including water security and energy efficiency with solar.
- Improve landscape connectivity and secure additional habitat for rhino on the Mutara Conservation Area.
- Build a better life for communities around the Conservancy by improving access to education, water, and agricultural extension services.
Fundraising provides a vital additional source of income for the Conservancy enabling investment to be directed where the need is greatest and operations support. Our small fundraising team raises funds globally to support Ol Pejeta’s work.
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.
## ACHIEVEMENTS AND PERFORMANCE
Ol Pejeta UK was established in 2019 to support the work of the Conservancy in Kenya. We provide direct support by working closely with the team on the ground in Kenya as well as fundraising support, generating income both into Kenya and the UK and by awarding grants to Kenya. Fundraising, now a key pillar of income generation for the Conservancy alongside commercial revenues from tourism and agriculture, provides a level of security and resilience, representing around one fifth of total income in 2024.
## KEY RESULTS 2024
- Delivered global revenue totalling c £1.5m of which c50 % went directly into Ol Pejeta Kenya and did not flow through OPC UK.
- Secured Income into Ol Pejeta UK of £943,801 (2023: £942,953).
- Delivered a successful End of Year fundraising campaign that exceeded its targets.
- Renewed relationships with two long-standing foundation partnerships.
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TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
- Reduced total Expenditure from £1,101,780 in 2023 to £784,993 - including grants awarded in support of conservation, community engagement and infrastructure improvements of £271,829 (2023: £451,102)
- Appointed Philippa Beach as Chief Fundraising Officer responsible for Ol Pejeta’s global fundraising programme and an Interim Chief Fundraising Officer, Dr Kirstin Johnson to cover Philippa’s maternity leave.
- Recruited a new Programme Funding Director, George Grayson to lead fundraising from Institutions and larger Trusts and Foundations.
- Provided support to finalise Ol Pejeta’s 2030 Strategy and developed a Case for Support for use with US donors, both of which underpin the development of a fundraising strategy in 2025.
- Developed a Programme Funding Plan to re-build a pipeline of donors after several grants came to an end.
- Appointed a consultant to be based in California from February 2025 to boost US fundraising.
## FUTURE PLANS FOR 2025
Specific objectives for us in 2025 are to:
- Continue to support the work of the Conservancy especially in the key areas of need: **Conservation** (especially rhinos, chimpanzees, connectivity with the wider landscape and new technology for monitoring and security), **Community** (sustainable livelihoods and access to education), and **Capability** (including infrastructure, improved water management and fundraising capacity).
- Raise £1.8m globally to support OPC Kenya’s strategic priorities and fund UK operations.
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.
Other income includes £37,609 from Sixty Six Media Inc. in relation to filming rights on the Conservancy in support of the northern white rhino recovery programme.
The Ol Pejeta Kenya Recharge of £187,707 represents the net fundraising costs incurred by Ol Pejeta UK which are associated with funds directly received into Ol Pejeta Kenya.
Expenditure to deliver charitable objectives decreased from £1,101,780 in 2023 to £784,993 broken down as follows:
**----- Start of picture text -----**
Expenditure Type Amount
Cost of Raising Funds 103,359
Charitable activities 681,634
Total 784,993
**----- End of picture text -----**
- Raise c £874k into Kenya and award at least £300k grants from OPC UK to OPC Kenya.
- Develop a cost recovery process backed up by a Transfer Pricing Policy.
- Develop a Fundraising Strategy to deliver income in support of Ol Pejeta’s strategic objectives to 2030 and looking ahead to the 2050 strategic direction of the organisation.
- Invest in fundraising in the USA through the recruitment of a full time US- based fundraiser.
- Support new US hire to build Ol Pejeta’s network of donors in the Western US.
- Implement fundraising strategies to deliver financial targets including through partnership renewals, donor retention, new business development, and one-off 20th Anniversary initiatives.
## FINANCIAL REVIEW
## _Principal funding sources and expenditure_
Income in 2024 totalled £943,801 (2023: £942,953) broken down as follows:
**----- Start of picture text -----**
Income Type Unrestricted Restricted Total Income
-
Corporates 2,232 2,232
Individuals 232,079 6,910 238,989
Trusts & Foundations 201,100 215,484 416,584
Other Income 38,799 63,049 101,848
-
Ol Pejeta Kenya - recharge 183,707 183,707
Interest earned 441 - 441
Total 658,358 285,443 943,801
**----- End of picture text -----**
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. Charitable activities include costs for direct support to Ol Pejeta in Kenya, communications and marketing, generating income to the Conservancy, grants awarded and support costs.
We were able to invest £681,634 in charitable activities including the provision of grants to Ol Pejeta Kenya of £271.829.
## _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, 2024, are £359,771 (2023: £200,963) consisting of £11,896 restricted funds (2023: £nil) and £347,875 unrestricted funds (2023: £200,963). Our Unrestricted Reserves total of £347,875 meets our reserves requirements.
The Policy will be regularly reviewed, supported by regular monitoring of performance against budget and cashflow forecasts.
## _Risk management_
The trustees have examined the major strategic, business, and operational risks which the charity faces. The main risk relates to having sufficient funding available to support operations in the UK as the main cost centre for Ol Pejeta’s fundraising activities. The charity has established commitment from Ol Pejeta Kenya to support the UK if needed, and established robust systems, processes, and policies to reduce and mitigate these risks.
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TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
## _Chief Executive Officer_
## STRUCTURE, GOVERNANCE AND MANAGEMENT
Ol Pejeta Conservancy UK is a Charitable Incorporated Organisation (“CIO”) established on 19 October 2019. As amended on 13 June 2022 and 08 August 2022. Ol Pejeta 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 2024 has six Trustees. The Trustees meet three to four times per annum and intermittently as required to deal with the routine business of the charity.
The fundraising department consists of Development Funding (focusing on individuals) and Program Funding (focusing on organisations) and was led by Philippa Beach in the first half of 2024 and Dr Kirstin Johnson in the latter half of the year. The UK team works closely with the Board of Trustees, and staff in Kenya to ensure the smooth running of UK operations and fundraising activities.
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.
**Justin Heath** was appointed **Ol Pejeta Conservancy’s Global CEO** in April 2022, bringing with him a wealth of experience in conservation, community engagement, commerce, and renewable energy. A Kenyan citizen with a global perspective, Justin has lived and worked across four continents. Since joining **Ol Pejeta** , Justin has led a comprehensive restructuring process, boosted commercial revenues, and strengthened the conservancy’s asset management. He has recently been elected to the National Board for the **Kenya Rhino Range Expansion** initiative, where he will collaborate with the Director General of Kenya Wildlife Service and the Head of the Kenya Wildlife Research and Training Institute aiming to expand protected habitats for rhinos across Kenya, with Ol Pejeta’s home range, Laikipia, playing a pivotal role. Justin also serves on the Board of Trustees of Ol Pejeta UK.
## _Policies and procedures_
Ol Pejeta 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, antibribery, reserves, financial controls, data protection, privacy, and human resources. Our policies were reviewed and updated in 2024. Training was undertaken with staff to ensure policies are understood and implemented. 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 Grant Making
The charity works with Human Resource specialist, Edelweiss HR Limited which provides advice in all matters relating to Human Resources including recruitment, benchmarking salaries, contracts, and staff remuneration. The charity works closely with and supports Ol Pejeta Conservancy Kenya in fulfilment of its charitable objectives.
The trustees who served during the year and up to the date of signature of the financial statements were:
Joanna Elliot (Chair)
Charles Graham (Secretary) Annette Lanjouw Dougal Freeman (Treasurer) Justin Heath (CEO of Ol Pejeta Kenya) Joseph Palombo
## _Recruitment and appointment of trustees_
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 Chief Fundraising Officer of Ol Pejeta UK.
All trustees give their time freely and no trustee remuneration or expenses was paid in the year. 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 year. A new terms of reference for Trustees will be developed in 2025 when the board plans to recruit additional trustees.
By supporting Ol Pejeta Conservancy Kenya, we are helping to conserve some of the world’s most endangered species, raise awareness of biodiversity loss whilst supporting those communities that live closest to it.
Ol Pejeta UK furthers its objectives by the provision of grants. As a result, we have developed a policy and process for grant making. The Board of trustees is responsible for ensuring all grant making decisions are in line with Ol Pejeta UK ‘s charitable purposes and any restrictions agreed with donors and funding partners. Each grant request is evaluated thoroughly and presented with recommendations to the Board of Trustees who consider what is in the best interests of OPC UK in seeking to achieve its charitable objectives and decide whether to make grants or support projects accordingly. Each grant application is considered on its own merits. Ahead of any formal voting and in line with the Conflict of Interest policy, the trustees declare any interests in each application and abstain from the voting process as appropriate. It is a condition of any awarded grant that the Trustees will receive written evaluation reports outlining the progress and achievements for the agreed period.
## _Relationship with wider network_
During 2024, Ol Pejeta UK partnered with a variety of organisations to help fulfil its charitable objects, including:
- Chapel & York International Limited, which provided fundraising services.
- Chapel and York US & Canada Foundations, which supported donors to give tax efficiently from the United
- • States of America and Canada.
- Helping Rhinos and Helping Rhinos USA, which supported us with fundraising events and wildlife adoptions.
- • Fauna & Flora, which provided fundraising and technical advice.
- Vital Impacts, which supported us to raise funds.
Through Ol Pejeta Conservancy Kenya, we also work with a wider network of partners and funders to achieve our mission.
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TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
## _Relationship with 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.
The trustees’ report was approved by the Board of Trustees and signed on their behalf by:
**Dougal Freeman (Treasurer)** Board Trustee and Treasurer
Dated: 20/5/2025 | 14:30 BST
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TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
I report to the trustees on my examination of the financial statements of Ol Pejeta Conservancy UK (the charity) for the year ended 31 December 2024.
## RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all 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 financial statements do not accord with those records; or
3. the financial statements 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 financial statements to be reached.
## **Charlotte Toemeas BSc FCA Ellacotts LLP**
Chartered Accountants & Statutory Auditor Countrywide House 23 West Bar Banbury Oxfordshire OX16 9SA
20/5/2025 | 14:31 BST Dated:
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TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
**----- Start of picture text -----**
Unestricted Restricted Total Total
CURRENT FINANCIAL YEAR
funds 2024 funds 2024 2024 2023
Notes £ £ £ £
Income from:
Donations and legacies 2 626,769 277,792 904,561 821,974
Charitable activities 3 38,799 - 38,799 120,979
Investments 4 441 - 441 -
Total income 666,009 277,792 943,801 942,953
Expenditure on:
Raising funds:
Costs of raising funds 5 103,359 - 103,359 139,631
Charitable activities 6 415,738 265,896 681,634 962,149
Total expenditure 519,097 265,896 784,993 1,101,780
Net income/(expenditure) and
146,912 11,896 158,808 (158,827)
movement in funds
Reconciliation of funds:
Fund balances at 1 January -
200,963 200,963 359,790
2024
Fund balances at 31
347,875 11,896 359,771 200,963
December 2024
**----- End of picture text -----**
**----- Start of picture text -----**
Unrestricted Restricted Total
PRIOR FINANCIAL YEAR
funds 2023 funds 2023 2023
Notes £ £ £
Income from:
Donations and legacies 2 512,108 309,866 821,974
Charitable activities 3 120,979 - 120,979
Total income 633,087 309,866 942,953
Expenditure on:
Raising funds:
Costs of raising funds 5 139,631 - 139,631
Charitable activities 6 623,263 338,886 962,149
Total expenditure 762,894 338,886 1,101,780
Net income and movement in funds (129,807) (29,020) (158,827)
Reconciliation of funds:
Fund balances at 1 January 2023 330,770 29,020 359,790
Fund balances at 31 -
200,963 200,963
December 2023
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 24 to 35 form part of these financial statements.
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TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
**----- Start of picture text -----**
2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 13 82 1,401
Current assets
Debtors 14 267,958 47,860
Cash at bank and in hand 129,014 187,433
396,972 235,293
Creditors: amounts falling
15 (37,283) (35,731)
due within one year
Net current assets 359,689 199,562
Total assets less current
359,771 200,963
liabilities
The funds of the charity
Restricted income funds 17 11,896 -
Unrestricted funds 18 347,875 200,963
359,771 200,963
**----- End of picture text -----**
**----- Start of picture text -----**
2024 2023
Notes £ £ £ £
Cash flows from operating
activities
Cash absorbed
21 (58,312) (125,391)
by operations
Investing activities
Purchase of tangible -
(548)
fixed assets
Investment income received 441 -
Net cash used in investing -
(107)
activities
Net cash used in financing - -
activities
Net decrease in cash
(58,419) (125,391)
and cash equivalents
Cash and cash
equivalents at the 187,433 312,824
beginning of the year
Cash and cash equivalents at
129,014 187,433
end of year
**----- End of picture text -----**
The financial statements were approved by the trustees on
**Dougal Freeman (Treasurer)** Trustee
20/5/2025 | 14:30 BST Dated:
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
## 1.5 Expenditure
## 1. ACCOUNTING POLICIES
## **Charity information**
Ol Pejeta Conservancy UK is a charitable incorporated organisation registered with the Charity Commission number 1185926.
## 1.1 Accounting convention
The financial statements have been prepared in accordance with the charity’s governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP “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 charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
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.
## 1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## 1.3 Charitable funds
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.
## 1.4 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.
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. Staff costs are allocated on the basis of time spent, and depreciation charges are 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 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.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to independent examination and other accountancy fees.
All expenditure is inclusive of irrecoverable VAT.
## 1.6 Tangible fixed assets
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 measured 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:
Office equipment 36 months straight-line basis
## 1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
## 1.8 Cash and cash equivalents
Cash at bank and in hand includes cash and short-term liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## 1.9 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.
## Basic financial assets
## 2. INCOME FROM DONATIONS AND LEGACIES
**----- Start of picture text -----**
Unrestricted Restricted Total Unrestricted Restricted Total
funds 2024 funds 2024 2024 funds 2023 funds 2023 2023
£ £ £ £ £ £
Donations
443,062 277,792 720,854 512,108 309,866 821,974
and gifts
Ol Pejeta Kenya - - - - -
183,707 183,707
Recharge
626,769 277,792 904,561 512,108 309,866 821,974
**----- End of picture text -----**
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.
## 3. INCOME FROM CHARITABLE ACTIVITIES
## Basic financial liabilities
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.
## 1.10 Employee benefits
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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
|INCOME FROM CHARITABLE ACTIVITIES|||
|---|---|---|
||Unrestricted
funds 2024|Unrestricted
funds2023|
||£|£|
|Conservation:|||
|Other income|38,799|120,979|
||**38,799**|**120,979**|
|INCOME FROM INVESTMENTS|||
||Unrestricted
funds2024|Unrestricted
funds 2023|
||£|£|
|Interest receivable|441||
## 4. INCOME FROM INVESTMENTS
## 1.11 Retirement benefits
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.
## 1.12 Foreign exchange
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.
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
## 5. EXPENDITURE ON RAISING FUNDS
|EXPENDITURE ON RAISING FUNDS|||
|---|---|---|
||Unrestricted
funds 2024|Unrestricted
funds 2023|
||£
£||
|Fundraising and publicity|||
|Bank fees|494
1,923||
|Consultancy and professional fees|46,214
37,846||
|Other fundraising costs|6,903
38,560||
|Staff costs|49,748
61,302||
||**103,359**|**139,631**|
## Share of support and governance costs (see note 8)
|Support|107,092|-|107,092|120,853|-|120,853|
|---|---|---|---|---|---|---|
|Governance|17,960|-|17,960|5,090|-|5,090|
||**409,805**|**271,829**|**681,634**|**511,047**|**451,102**|**962,149**|
|Analysis by fund|||||||
|Unrestricted funds|398,728|17,010|415,738|490,918|132,345|623,263|
|Restricted funds|11,077|254,819|265,896|20,129|318,757|338,886|
||**409,805**|**271,829**|**681,634**|**511,047**|**451,102**|**962,149**|
## 7. GRANTS PAYABLE
## 6. EXPENDITURE ON CHARITABLE ACTIVITIES
**----- Start of picture text -----**
Grant Grant
Conservation funding Total Conservation funding Total
2024 activities 2024 2023 activities 2023
2024 2023
£ £ £ £ £ £
Direct costs
Staff costs 215,693 - 215,693 323,766 - 323,766
Depreciation and - -
1,867 1,867 1,543 1,543
impairment
Training and - -
10,926 10,926 17,788 17,788
recruitment
Travel and
- -
23,587 23,587 21,211 21,211
entertainment
Exchange gain - -
21,026 21,026 9,731 9,731
or loss
Other direct costs 577 - 577 1,262 - 1,262
Consultancy and - -
11,077 11,077 9,803 9,803
professional fees
- -
284,753 284,753 385,104 385,104
Grant funding of
activities - 271,829 271,829 - 451,102 451,102
(see note 7)
**----- End of picture text -----**
|GRANTS PAYABLE|||
|---|---|---|
||Grant funding
activities 2024|Grant funding
activities 2023|
||£
£||
|Grants to institutions:
Grants, Conservation|271,829
451,102||
## 8. SUPPORT COSTS ALLOCATED TO ACTIVITIES
**----- Start of picture text -----**
2024 2023
£ £
Staff costs 96,143 79,610
Consultancy and professional fees 461 30,209
Computer overheads and consumables 4,383 5,163
Telephone, stationery and postage 1,144 244
Sundry expense 1,296 3,109
Bank charges 296 116
Insurances 3,369 2,354
Interest payable - 48
Governance costs 17,960 5,090
**----- End of picture text -----**
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
|Analysed between:
Conservation
Governance costs comprise:|**125,052**
**125,943**|**125,052**
**125,943**|
|---|---|---|
||125,052
125,943||
||||
||2024|2023|
||£
£||
|Accountancy|17,960
5,090||
|**17,960**
**5,090**
Within governance costs, the independent examiner’s remuneration amounts to an independent examiner
fee of £2,700 (2023 - £ £2,400).
NET MOVEMENT IN FUNDS
2024
2023
£
£|**17,960**
**5,090**||
||2024|2023|
||£
£||
|The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fxed assets|1,867
1,543||
Within governance costs, the independent examiner’s remuneration amounts to an independent examiner fee of £2,700 (2023 - £ £2,400).
## 9. NET MOVEMENT IN FUNDS
**----- Start of picture text -----**
Social security costs 21,351 41,315
Other pension costs 21,262 29,601
361,584 464,678
The number of employees whose annual remuneration was
2024 2023
more than £60,000 is as follows:
Number Number
£60,001 - £70,000 - 2
£70,001 - £80,000 1 -
£100,001 - £110,000 - 1
**----- End of picture text -----**
## **Remuneration of key management personnel**
The total remuneration of the key management personnel of the charity were £133,368 (2023 - £156,518) and employer pension contributions were £9,625 (2023 - £ £11,625).
## 12. TAXATION
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## 10. TRUSTEES
## 13. TANGIBLE FIXED ASSETS
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023 - £Nil).
During the year, no trustees expenses have been incurred (2023 - £Nil).
## 11. EMPLOYEES
The average monthly number of employees during the year was:
||2024|2024|
|---|---|---|
|Average monthly number of employees|||
|Employment costs|||
||2024|2023|
||£
£||
|Wages and salaries|318,971
393,762||
|TANGIBLE FIXED ASSETS||
|---|---|
||Office|
||equipment|
||£|
|Cost||
|At 1 January 2024|6,917|
|Additions|548|
|At 31 December 2024|7,465|
|Depreciation and impairment||
|At 1 January 2024|5,516|
|Depreciation charged in the year|1,867|
|At 31 December 2024|7,383|
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
**----- Start of picture text -----**
Carrying amount
At 31 December 2024 82
At 31 December 2023 1,401
Amounts falling due within one year: 2024 2023
£ £
Trade debtors 70,053 42,025
Other debtors 185,517 1,744
Prepayments and accrued income 12,388 4,091
267,958 47,860
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other taxation and social security 24,951 13,503
Trade creditors 9,632 9,862
-
Grants payable 8,216
Accruals and deferred income 2,700 4,150
37,283 35,731
**----- End of picture text -----**
## 14. DEBTORS
## 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
## 17. RESTRICTED FUNDS
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
**----- Start of picture text -----**
At 31
At 1 January Incoming Resources
December
2024 resources expended
2024
£ £ £ £
Conservation - 9,057 (9,057) -
-
Community - Education 68,350 (67,149) 1,201
-
Operations and Infrastructure 200,385 (189,690) 10,695
-
277,792 (265,896) 11,896
At 31
At 1 January Incoming Resources
Previous year December
2023 resources expended
2023
£ £ £ £
-
Conservation - Species 9,066 16,370 (25,436)
Resilience Fund 19,954 - (19,954) -
- -
Community - Education 63,284 (63,284)
- -
Operations and Infrastructure 230,212 (230,212)
-
29,020 309,866 (338,886)
**----- End of picture text -----**
The Conservation Fund represents grants received for the purpose of wildlife conservation.
## 16. RETIREMENT BENEFIT SCHEMES
The Resilience Fund represents funds received for organisational strengthening.
The Community Education Fund represents funds received for student scholarships.
|Defined contribution schemes
2024
2023
£
£|2024|2023|
|---|---|---|
|Charge to proft or loss in respect of defned contribution schemes
21,262
29,601|||
The Operations and Infrastructure Fund represents funds for operations, housing and water and other infrastructure improvements.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. Contributions of £Nil were payable to the fund at the balance sheet date (2023 - £Nil).
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630 TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
## 18. UNRESTRICTED FUNDS
**----- Start of picture text -----**
At 31
At 1 January Incoming Resources
December
2024 resources expended
2024
£ £ £ £
General funds 200,963 666,009 (519,097) 347,875
At 31
At 1 January Incoming Resources
Previous year December
2023 resources expended
2023
£ £ £ £
General funds 330,770 633,087 (762,894) 200,963
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted
Total
At 31 December 2024: funds funds
2024
2024 2024
£ £ £
Tangible assets 82 - 82
Current assets/(liabilities) 347,793 11,896 359,689
Total 347,875 11,896 359,771
Unrestricted Restricted
Total
At 31 December 2023: funds funds
2023
2023 2023
£ £ £
-
Tangible assets 1,401 1,401
-
Current assets/(liabilities) 199,562 199,562
-
Total 200,963 200,963
**----- End of picture text -----**
## 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
## 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 £271,829 (2023 - £ £451,102), 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 £94 to OPC Kenya (2023 - £Nil) and were owed £183,707 (2023: £958).
During the year the charity received donations without conditions from trustees totalling £nil (2023 - £ £nil).
## 21. CASH GENERATED FROM OPERATIONS
**----- Start of picture text -----**
2024 2023
£ £
Surplus/(deficit) for the year 158,808 (158,827)
Adjustments for:
-
Investment income recognised in statement of financial activities (441)
Depreciation and impairment of tangible fixed assets 1,867 1,543
Movements in working capital:
(Increase)/decrease in debtors (220,098) 22,559
Increase in creditors 1,552 9,334
Cash absorbed by operations (58,312) (125,391)
**----- End of picture text -----**
## 22. ANALYSIS OF CHANGES IN NET FUNDS
The charity had no material debt during the year.
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Docusign Envelope ID: 4FC23DF2-D9B7-4151-B007-54D0AC5F2630
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS | 31 DECEMBER 2024
www.olpejetaconservancy.org
For more information please contact Gail Thacker, UK Operations and Fundraising Manager: gail.thacker@olpejetaconservancy.org +44(0) 7747 115287
Photo credits: Dylan Habil & Kevin Kipruto