**Charity registration number 1206850 (England and Wales)**
## **ENDANGERED RHINO CONSERVATION CIO**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025**
## **ENDANGERED RHINO CONSERVATION CIO**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Professor A Hart|
|---|---|
||S Raw|
||Prof A Goodenough|
|**CEO**|Luke Levitt|
|**Charity number (England and Wales)**|1206850|
|**Principal address**|AEL Mining Services|
||Mankwe Wildlife Reserve|
||Stand 3300|
||R510|
||Mogwase 0314|
||South Africa|
|**Registered office**|Warwickshire College|
||Moreton Morrell|
||Warwick|
||CV35 9BL|
|**Independent examiner**|Kendall Wadley LLP|
||Granta Lodge|
||71 Graham Road|
||Malvern|
||Worcestershire|
||WR14 2JS|
|**Bankers**|HSBC UK Bank Plc|
||5/6 High Street|
||Coventry|
||CV1 5RE|
## **ENDANGERED RHINO CONSERVATION CIO**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Statement of trustees' responsibilities|3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 12|
## **ENDANGERED RHINO CONSERVATION CIO**
## **TRUSTEES' REPORT** _**FOR THE PERIOD ENDED 31 JULY 2025**_
The trustees present their annual report and financial statements for the period ended 31 July 2025.
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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".
## **Objectives and activities**
- **Charitable Objectives (as per governing document):**
To promote the conservation, protection, and improvement of endangered rhinoceroses and their habitats for the benefit of the public.
- **Public Benefit:**
The trustees confirm that they have complied with the duty set out in section 17 of the Charities Act 2011 to have regard to the public benefit guidance published by the Charity Commission.
## · **Main Activities:**
During this reporting period, the charity has:
- Established the foundation for future rhino conservation activities.
- Carried out fundraising through events, online campaigns, donor partnerships and Stripe donations.
- Raised awareness of endangered rhino conservation through social media, talks and educational programmes.
- Begun developing plans to establish a dedicated rhino sanctuary.
## **Achievements and performance**
_Significant activities and achievements against objectives_ Key highlights from the period:
- Raised **£251,817** in donations and grants.
- Built connections with conservation partners in the UK and Africa
- Reached 983,000 people via awareness-raising and education campaigns.
- Created a financial plan towards the long-term establishment of a rhino sanctuary.
## **Financial review**
- **Income:** £253,322
- **Expenditure:** £14,363
- The charity ended the period with funds of £238,959
- **Reserves and Sanctuary Fund:**
The trustees have adopted a reserves policy that allows the charity to build up funds for a major strategic project: the establishment of a rhino sanctuary. This project directly furthers the charity’s objectives of protecting and conserving endangered rhinos by providing a secure environment for their long-term protection.
As a result, while no significant grants or donations were made to external organisations during this period, the retention of funds is an intentional decision to accumulate sufficient resources to achieve this goal.
- 1 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 JULY 2025**_
## **Plans for future periods**
Looking ahead, the charity intends to:
- Continue fundraising to build a reserve sufficient to acquire and establish a rhino sanctuary.
- Once viable funding levels are achieved, begin practical steps towards land acquisition, planning, and sanctuary development.
- Expand donor support in the UK and internationally.
- Increase collaboration with on-the-ground rhino protection organisations.
- Deliver awareness campaigns to keep the public informed about progress and the wider conservation needs.
## **Structure, governance and management**
The trustees who served during the period and up to the date of signature of the financial statements were: Professor A Hart
S Raw
Prof A Goodenough
_Other matters_
- The charity is a **Charitable Incorporated Organisation (CIO)** registered on **02 February 2024** with the Charity Commission for England and Wales.
- Trustees are appointed in accordance with the governing document and are responsible for the overall governance and strategic direction of the charity.
- Day-to-day operations are delegated to staff / volunteers and trustees directly, as relevant.
## **Risk Management**
The trustees have considered the key risks to the charity, including:
- Funding volatility due to reliance on donations.
- Risks associated with large-scale capital projects such as land acquisition.
- Compliance with charity law and safeguarding responsibilities.
Mitigation measures include setting a clear reserves target, careful financial management, diversifying fundraising sources, and maintaining transparent reporting.
The trustees' report was approved by the Board of Trustees.
Professor A Hart **Trustee**
12 November 2025
- 2 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE PERIOD ENDED 31 JULY 2025**_
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial 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 of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 3 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF ENDANGERED RHINO CONSERVATION CIO**
I report to the trustees on my examination of the financial statements of Endangered Rhino Conservation CIO (the charity) for the period ended 31 July 2025.
## **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.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 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.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 Charities Act 2011.
- 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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.
## **Elizabeth Needham ACA CTA (VAT)**
## **Kendall Wadley LLP**
Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS 12 November 2025
- 4 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 JULY 2025**_
|||**Unrestricted**|
|---|---|---|
|||**funds**|
|||**2025**|
||**Notes**|**£**|
|**Income from:**|||
|Donations and legacies|**3**|251,817|
|Other trading activities|**4**|1,505|
|**Total income**||253,322|
|**Expenditure on:**|||
|Raising funds|**5**|14,363|
|**Total expenditure**||14,363|
|**Net income and movement in funds**||238,959|
|**Reconciliation of funds:**|||
|Fund balances at 2 February 2024||-|
|**Fund balances at 31 July 2025**||238,959|
- 5 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Stocks
**10**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**12**
**Net current assets**
**Total net assets**
**The funds of the charity**
Unrestricted funds|**2025**
**£**
2,400
2,348
235,646
240,394
(1,700)|**£**
265
238,694|
|---|---|---|
|||238,959|
|||238,959|
|||238,959|
The financial statements were approved by the trustees on 12 November 2025
Professor A Hart **Trustee**
- 6 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE PERIOD ENDED 31 JULY 2025**_
## **1 Accounting policies**
## **Charity information**
Endangered Rhino Conservation CIO is a charity registered in England and Wales. The registered office is Warwickshire College, Moreton Morrell, Warwick, CV35 9BL.
## 1.1 **Reporting period**
This is the first period of account and runs from the date of registration 2 April 2024.
## **1.2 Basis of preparation**
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" 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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.3 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources and there are no material uncertainties about its ability to continue. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.4 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.5 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 JULY 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.6 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 are allocated on the portion of the asset’s use.
## **1.7 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Capitalisation limit for tangible fixed assets is £250
## **1.8 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).
## **1.9 Stocks**
Stocks include merchandise and are stated at the lower of cost and estimated selling price.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
## **1.11 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 8 -
**ENDANGERED RHINO CONSERVATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 JULY 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.12 Foreign exchange**
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from donations and legacies**
||**Unrestricted**|
|---|---|
||**funds**|
||**2025**|
||**£**|
|Donations and gifts|251,817|
- 9 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 JULY 2025**_
|**4**|**Income from other trading activities**||
|---|---|---|
|||**Unrestricted**|
|||**funds**|
|||**2025**|
|||**£**|
||Merchandise income|1,505|
|**5**|**Expenditure on raising funds**||
|||**Unrestricted**|
|||**funds**|
|||**2025**|
|||**£**|
||**Fundraising and publicity**||
||Fundraising events|5,290|
||Advertising|1,512|
||Support costs|4,479|
|||11,281|
||**Trading costs**||
||Closing stock of merchandise|(2,400)|
||Merchandise costs|5,482|
|||3,082|
||Total costs|14,363|
|**6**|**Support costs allocated to activities**||
|||**2025**|
|||**£**|
||Depreciation|84|
||Governance costs|4,395|
|||4,479|
||**Analysed between:**||
||Fundraising|4,479|
- 10 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 JULY 2025**_
|**6**|**Support costs allocated to activities**|**(Continued)**|
|---|---|---|
|||**2025**|
||**Governance costs comprise:**|**£**|
||Bank charges|2,695|
||Independent examination fees|1,700|
|||4,395|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **9 Tangible fixed assets**
|||**Computers**|
|---|---|---|
|||**£**|
||**Cost**||
||Additions|349|
||At 31 July 2025|349|
||**Depreciation**||
||Depreciation charged in the period|84|
||At 31 July 2025|84|
||**Carrying amount**||
||At 31 July 2025|265|
|**10**|**Stocks**||
|||**2025**|
|||**£**|
||Merchandise|2,400|
- 11 -
## **ENDANGERED RHINO CONSERVATION CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 JULY 2025**_
## **11 Debtors**
|**11**
**Debtors**||
|---|---|
|**Amounts falling due within one year:**
Trade debtors
Other debtors
**12**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2025**
**£**
426
1,922|
||2,348|
||**2025**
**£**
1,700|
## **13 Related party transactions**
There were no disclosable related party transactions during the year.
- 12 -