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2023-12-31-accounts

Charity No. 326567

Annual report and financial statements For the year ended

31 December 2023

The Aspinall Foundation

Report and financial statements

For the year ended 31 December 2023

Contents

Page
Reference and administrative information 1
Trustees’ Annual Report 2
Independent Auditors' Report 47
Consolidated Statement of Financial Activities 51
Consolidated Balance Sheet 52
Charity Balance Sheet 53
Consolidated Statement of Cash Flows 54
Notes to the Financial Statements 55

The Aspinall Foundation

Reference and administrative information

For the year ended 31 December 2023

Trustees: Damian Aspinall (Chair)
Robin Birley (resigned 1 May 2023)
Charles Filmer
Ben Goldsmith (resigned 1 May 2023)
Tansy Aspinall
Maarten Petermann
Charity number: 326567
Registered office: Port Lympne Reserve
Lympne
Nr. Ashford
Kent
CT 21 4PD
Auditors: Goldwins Limited
75 Maygrove Road
West Hampstead
London
NW6 2EG
Bankers Barclays Bank plc
93 Baker Street
London
W1A 4SD
Solicitors Girlings Solicitors LLP
Stourside Place
Station Road
Ashford
Kent
TN23 1PP
Investment advisors Slater Investment Limited
Nicholas House
3 Laurence Pountney Hill
London
EC4R 0EU

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Committed to Conservation

The Aspinall Foundation ("Foundation" or "TAF") was established as a charitable trust by a Trust Deed on 30 March 1984 and registered as a charity under number 326567 on 27 April 1984. The trustees present their report and financial statements for the year ended 31 December 2023.

Introduction

Following the creation of Howletts and Port Lympne zoological parks in 1959 and 1975 respectively, The Aspinall Foundation was founded in 1984 as a UK registered charity (under the name of The Howletts and Port Lympne Foundation, and eventually The Aspinall Foundation), the vision of which has always been to contribute to global species conservation through integrating ex situ and in situ activities.

Our global wildlife conservation work, again spanning over thirty years, covers diverse issues including tackling the illegal wildlife trade, the “re-wilding” and eventual release of wild-born animals confiscated from the illegal wildlife trade and of captive-born animals, the reintroduction of species to sites where they have become locally extirpated, the reinforcement of small isolated populations of threatened species, the co-management of protected areas with national governments, the scientific evaluation of wild, reintroduced and captive wildlife populations, and the recovery of threatened species through community-based conservation.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

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Overseas Conservation Projects
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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Congo

Gorillas:

There appear to be several small groups in the reintroduction site now, following the apparent dispersal of numerous individuals from Makoua’s group which had previously grown to over 30 gorillas. Most of the older female gorillas appear to have left Makoua during 2023. The oldest female in the Reserve, Djembo, released in 1996, has been recorded on camera traps with a silverback thought to be Djeke plus another female. The second-oldest female, Lengui, has also been recorded on camera traps with a silverback resembling Djeke. The females Koto, Massabi and Tchivou have been recorded on camera traps in a small group with a young silverback, Massabi’s large infant, a new-born infant born to Koto in September, and one other gorilla. Another new-born infant was observed in a camera trap earlier in the year, with a female thought to be Likendze. One young male from the group has dispersed alone and was reported from the extreme south of the Reserve late in the year.

Fubu showed very good progress in the consumption of wild fruits and grasses and regularly exploring and finding food by himself. Having been moved to a soft release site on 30 November 2022, he was released on the 29[th] of June 2023. At the end of July he was found quite far south in the Reserve having clearly lost a lot of weight and with injuries presumably sustained during an interaction with one of the released gorilla groups. A mission organised with the Jane Goodall Institute in the 3[rd] week of August to attempt to tranquilise and transport him back to the soft release site failed because he was very nervous and ran away, although the site that he found himself in was far from other groups of gorillas and he stayed put. He was then fed by the team twice a day for him to regain his health and had his injuries treated with antibiotics. He progressed slowly but well. At the beginning of December, he showed some new but very minor injuries, perhaps from another interaction with other gorillas. Camera trap footage from December showed him occasionally walking around with an unidentified male gorilla about 15 years of age – it seems that the relationship was friendly and there was hope that he would form a small group with the other gorilla. By the end of 2023 Fubu was showing improved confidence and the plan for 2024 will be to observe his progress and weight, and slowly reduce his feeding in a bid to encourage him to start foraging by himself again.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

At the start of the year, the two young gorillas (Boumassa and Loukolela) on Abio 1 island were firm friends. They sometimes retreated into the forest for several days, foraging for their own food without being sighted by the team. Sadly, in March Loukolela suddenly disappeared and his remains were discovered not long after, he had be caught and eaten by a crocodile by the banks of the river. The only upside of Loukolela’s disappearance was that it

sparked a change in the relationship between Bomassa and Joshi as they started to be fed together at the same spot, something that was not possible before as Joshi would chase the younger away. Bomassa’s limitless appetite and knowledge of wild food seems to have rubbed off on Joshi who started to copy Bomassa’s eating habits, eating much more wild food. Bomassa occasionally tests Joshi but most of the time keeps his distance. Their relationship has never been overly friendly although there is now a peaceful coexistence.

Kebu started 2023 quite stressed after the sedation and transfer of Fubu to the release area, but he became more relaxed as the year wore on (perhaps Fubu’s transfer off the island increased his confidence). Towards the end of 2023, his diet was changed to 100% wild food and, while he took to the grasses and leaves quickly, he didn’t like the wild fruit much. We are trying to encourage him to eat more wild food and maintain a healthy weight at the same time

The silverbacks Kelle (27.5) and Yambo (36.5) remain in the big cage at Iboubikro, where they have been since June 2021.

Administrative efforts/ achievements for the year:

After the retirement of Auguste Ngollo, long term monitoring assistant at the reserve, we were fortunate to be able to recruit Elie Djoli Camara. Ellie was previously an intern with the Congolese Protected Area Management Agency (ACFAP) and has already proven to be a great help with our continued monitoring programme.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Project visits from notable individuals:

In July, we had a visit from the Minister of Tourism and a potential Kenyan investor in tourism, as part of a Kenyan presidential delegation.

In September, a delegation of attendees to the Three Basins Summit in Brazzaville visited the reserve – these included the directors of Corsair airline, several different media groups in France, and former international footballer Lassana Diarra. They visited the Abio gorillas and Iboubikro site before returning to Brazzaville. DG ACFAP was also present at the reserve during this visit.

In October, Cristian Samper of Jeff Bezos’ Earth Fund and former UK DEFRA minister, Zac Goldsmith, visited the reserve to discuss a funding proposal submitted by TAF to the Earth Fund. They were shown all three rehabilitating gorillas as well as Fubu who had already been released by this point. Unfortunately, as this visit was carried out on fairly short notice, a concerted effort by the ecoguards to track a group of wild gorillas was not successful.

Throughout the year, private visits were carried out by the ambassadors to Congo of the European Union (on several occasions), Italy, USA, Germany (on two occasions) and Belgium, as well as the Belgian ambassador to the DRC. There seems to be a real word of mouth pattern amongst the embassies in Brazzaville and Kinshasa and many others have signalled an interest in visiting.

Infrastructure works:

Three main infrastructural improvements were carried out during 2023:

The hill after the Mont Blanc control post leading to Lac Bleu and Iboubikro was in a bad state, causing problems for both visitors and the project cars. A project was carried out to lay concrete on the road to facilitate access. Repairs at Abio 2 consisted of equipping the TAF bungalow terraces with mosquito nets to allow sitting outside in the evening for both visitors and TAF staff; the mosquito net around the kitchen/living room hut was replaced and covered in anti-rust paint; the kitchen/living room hut for the workers also had its mosquito net wall replaced and was equipped with new furniture. After losing some electrical equipment due to lightning strikes on the buildings at Abio 2 camp, a lightning rod was installed to protect the solar power system.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

~~—___~~ Releases:

Three dwarf crocodiles confiscated by the DDEF (departmental administration for forest economy in Brazzaville) from fishermen at Yoro port in Brazzaville were given to the reserve. In collaboration with PALF (media coverage) and ACFAP these three crocodiles were released into the Louna River in January 2023.

Fubu, a gorilla who arrived from Port Lympne in 2017, was released on June 29[th] , a described above.

Team activities including missions and maintenance:

Monitoring missions are held regularly to count species seen and, in particular retrieve SD cards from the network on camera traps around the reserve. At the end of 2023, 23 cameras were placed around the reserve and the following species where recorded;

Species No. Of videos
Hippopotamus 164
Red river hog 147
Sitatunga 120
Vervet monkey 89
Western lowland gorilla 57
Yellow-backed duiker 37
Forest buffalo 25
African civet 24
Black-fronted duiker 24
Black-backed duiker 18
Black-footed mongoose 18
Northern bushbuck 15
Servaline genet 15
Marsh mongoose 10
De Brazza monkey 6
Guineafowl 6
Unidentified bird 4
Greater cane rat 3
Side-striped jackal 3
Monitor lizard 2
Bat 1
Common duiker 1
Moustached guenon 1
Serval 1
Total 791

Fig 1 – Videos containing species at the reserve in 2023 (total amount of videos, not individuals)

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Trustees’ Annual Report

The Aspinall Foundation

For the year ended 31 December 2023

Maintenance work is carried out on a regular basis at the camps on everyday installations - generators, water pumps, solar power installations etc. A river cleaning (to remove fallen trees which gorillas could cross to escape the reserve) was carried out in November 2023 and will be carried out twice a year.

Grant funding applications:

Two funding opportunities were applied for in 2023:

An IUCN RISE grant was applied for in June 2023, linking the mitigation of gender-based violence with environmental protection. Two local partners were selected for this programme: Lisatour is a local sociocultural NGO whose objectives are to help people discover the natural and cultural riches of the Republic of Congo, to develop community tourism, and to contribute to poverty reduction and peace through tourism. The work with the communities in the project area on a permanent basis in agro-pastoral and community-based tourism. The Association des Femmes Juristes du Congo is an NGO of women lawyers with a lot of experience in various topics. It works to draft laws governing the conditions of women and children. It denounces and fights against any form of discrimination regarding human rights in general; gathers and disseminates all information on the legal, social, economic and cultural status of women and children; and establishes relations and exchanges of ideas between women lawyers and legal circles.

Funding was also applied for from REDAA under the title “Researching and Developing Sustainable Use of Ecosystem Services in Rural Communities Surrounding a Protected Area whilst Increasing Biodiversity Protection”, again in partnership with Lisatour. The idea was to work with local communities surrounding the reserve to identify the barriers to self-supporting change through the comprehensive monitoring and evaluation of a series of targeted activities to improve livelihoods, access to essential services, and awareness-raising. The results of this project would aim to improve living conditions and standards in communities surrounding the reserve, make the inhabitants more aware of the importance of conservation in the process and lead to a partnership with villages surrounding the reserve to cut down on poaching and other forms of encroachment.

Both applications were ultimately unsuccessful although they did allow us to forge links with the two potential partners who would both be interested in collaborating on future projects.

Unofficial discussions were had with World Bank representatives in Congo on the possibility of obtaining funding for the reserve and its surrounding areas under a programme due to launch in 2024.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Gabon

Gorillas:

The behaviour of Djongo’s group has improved markedly this year, especially Mayombe’s nervousness. She has become more secure in her environment over the last 12 months and is displaying reduced signs of stress in comparison to previous years. The team have noted that Mayombe has even begun interacting with the team and is not afraid when unfamiliar visitors are in the boat during feeding. Taali is growing well and is very playful, she has begun to show more independence in the later part of 2023, often climbing trees, whilst Mayombe watches from the ground. Djongo is usually calm, but is very invested in protecting his family from the presence of passing silverbacks on the other side of the river or elephants.

The 41-year-old solitary silverback Djala continues to be observed daily and provided with supplementary feeding. He disappeared briefly from the 23rd February, until found on the 3rd March very tired and emaciated with numerous wounds on his face and body which appeared to be infected. His movements were slow, and he didn’t move properly (he moved on his elbows or wrists at times). This was likely, an altercation with Boumango's group. Djala was given medication and supplementary food for several months and he made a slow but full recovery. He has since been observed and fed daily opposite the Mbie camp and is back to his original form.

Boumango’s group have been seen monthly either by camera trap or directly along the river. A newborn was spotted on camera trap footage at the end of December, the infant remains unsexed but is doing well. Bringing the total number of individuals in the group to 18. Boumango was seen several times in front of the pre-release island, where he exchanged charges, vocalizations and chest beats with Djongo, whilst the females on both sides were a little stressed but remained calm.

Tonga’s group is regularly seen on camera trap along the Lewou river, collected on a monthly – bimonthly basis. According to the videos all individuals seen are in good physical condition, we estimate the number of individuals to be 13+. Two young males from the Tonga group were observed in November moving quickly and alone. It is assumed that these young adults have recently left the group and are looking to leave the Tonga group area.

The silverback Ima has only been observed twice during 2023, once directly and once on a camera trap. The two females who transferred to him during 2022, Okéli and Amvemande, have not been observed but are thought to remain with him.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Administrative efforts/ achievements for the year:

Camera trap collections and analysis have continued throughout the year of 2023, with over 35 species of animals observed either via camera trap footage or directly by the team. Key focus has been on a project surrounding forest elephants within the Bateke Plateaux, funded by The International Elephant Foundation from 2023, the project consists of camera trap placement and subsequent data collections to establish population, family groups, lone bulls, territories, etc. So far a total of 16 camera trap have been placed at 4 strategical sites. Throughout the remainder of the grant and into 2024, DNA sampling kits will be purchased for further genetic analysis to be completed, by a local student who is trained to identify and analyse the data provided monthly by the camera traps.

Infrastructure works:

Work on the roads

The team worked on the road between the two camps. A river changed its course upward that led to a part of the road became flooded and swampy.

Tent platform

The tents platforms needed some maintenance on the support poles and some planks were changed as well. The whole structure was treated against termites as well.

Roof renovation base camp’s house

Some sheet metal was changed on the roof of one of the facilities.

Dock Ntsa house cleaning

The wooden house was treated against termites and the surrounding areas were cleared.

Mirador maintenance

The wood was treated against termites and the surrounding areas were cleared.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Team activities including missions and maintenance: Feeding gorillas daily Camera trap missions IEF missions (Kessala and Nkoly monthly) Road maintenance Rivers maintenance Help for ANPN rangers’ anti-poaching missions Camp maintenance

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Indonesia – Java & Sumatra

2023 – Primate Rehabilitation Centres:

To manage the victims of the illegal pet trade, The Aspinall Foundation Indonesia built and manages rehabilitation centres to receive confiscated and voluntarily surrendered primates. TAF follows the IUCN, and government standards and guidelines for the primate rehabilitation and reintroduction prior to reintroduction back into the wild. Below are details of the general facilities of the rehabilitation centres and its update for 2023:

West Java (Javan Primate Rehabilitation Centre):

This is the first rehabilitation centre built by TAF in 2011 and has 6 units: 12 cages of quarantine cages, 8 electric-shock habituation enclosures, and 12 net habituation enclosures. There is a supporting facility, which has: 1 unit field office, 1 unit animal clinic, 1 indoor household primates, keeper’s hut, kitchen, and warehouse. Within the 12 ha of pine forest land, belonging to the MoEF (Ministry of Environment and Forestry), most of the annual maintenance takes place including net replacement, renewal of cage furniture (mostly made of bamboo), repainting of metal materials, repairing of buildings, and area cleaning. In 2023, several equipment were purchased: 1 new chiller, and other routine small equipment to support animal enclosures and husbandry, such as ropes, cleaning materials, food plates, etc. JPRC manages 3 species of Javan protected primates which are Javan gibbons, Javan langurs and grizzled langurs with a maximum capacity of 50 to 60 primates.

East Java (Javan Langur Rehabilitation Centre):

Javan langur rehabilitation centre (JLRC) is the second rehabilitation centre built in 2012 and has 3 units: 6 quarantine cages, and 7 Net habituation enclosures. The supporting facility consists of 1 field office with an animal clinic room in the same building, kitchen and warehouse. Located in 4 ha of open secondary forest land, belonging to the MoEF, the routine annual maintenance is similar to the JPRC. Total capacity is 20 to 30 langurs.

South Sumatra (Siamang Rehabilitation Centre) :

SRC is the third centre built by TAF in 2022 just after COVID-19 pandemic. The construction process was completed in February 2023 and the centre has 5 units: 10 quarantine cages, 8 wire mesh habituation enclosures, a field office, an animal clinic room, and animal food store and preparation area. We had additional funding support from Dierenpark Amersfoort, Netherlands, in 2023 to build an information and education hut. The capacity of the SRC is 26 to 36 siamangs.

Siamang Rehabilitation Center, Puntikayu, South Sumatra 2023

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

2023 – Rescue, Rehabilitation and Reintroduction

Total number of primates received from confiscation and voluntary surrender in 2023 was 48 primates. Among them 12 Javan gibbons, 2 grizzled langurs, 23 Javan langurs and 11 siamangs. There were also more young Javan gibbon orphans rescued this year and will take longer to rehabilitate.

2023 – Reintroduction :

Post COVID-19 pandemic, the reintroduction program continued carried out by the team in West, East and South Sumatra. TAF Indonesia successfully released a total of 37 primates. This brought the total number of released primates to 269 between 2012 – 2023. Javan langurs still rank highest in terms of total number of

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

individuals released. Only 3 Javan gibbons have been released this year because most of the rescued gibbons were at a very young age. This year the first siamang PAIR (Jon and Cimung), were released in Isau-isau protected forest, South Sumatra, and continue to be monitored by a joint monitoring team of TAF Indonesia and BKSDA (The Natural Resources Conservation Centre, Ministry of Forestry) South Sumatra.

Below is a summary and chart of primate’s rescue, rehabilitation and reintroduction in 2023 with the total reintroduction of 37 primates (3 Javan gibbons, 9 Western Javan langurs, 23 Eastern Javan langurs and 2 Siamang).

2023 Post release monitoring:

Monitoring and observation of all released primates in the site release is so challenging and is not easy especially given our limited resources (personal and equipment) needed to follow and locate all the released

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

primates. However, our team has confirmed that some of the released primates have successfully bred and given birth in the wild. A newborn Javan gibbon was observed in January born to one of the reintroduced gibbons (Cheri). In total, we have observed 4 gibbon infants, 4-6 grizzled langur infants, and more than 50 langur infants (54 Eastern Javan langurs and 2-3 Western Javan langurs). In West Java, we have a team of 6 monitors at release sites (covering 2 different sites and several forest blocks), 3-4 in East Java and 3 in South Sumatra. The team also has additional incidental volunteers from university students who joined the project for internship program and BKSDA rangers.

Not all rehabilitated primates survive during the process of rehabilitation and released. They have different health problems, diseases infection and stress. The TAF-IP medical team work hard to treat sick individuals, however, some of them do not survive. This year we loss total 13 individuals with 5 of them being siamang. Some of the siamang were received in a highly traumatised condition and were too young to survive this.

2023 – Medical and care:

Medical check-ups (MCU) are carried out for all new arrivals and primates who have health problems during their rehabilitation. Final MCU’s are conducted prior to releasing the primates. In 2023, there was some discussion about virus infections in gibbons, how to best test future individuals, and strategy related rescue and management of the infected gibbons. To find out which variant of herpes virus infects these species of gibbons, a research plan has been discussed between TAF medical team, researchers from US and Europe, and Primate Research Study at Bogor Agriculture Institute (PSSP - IPB, Bogor). Previous successful studies on Hepatitis B viruses initiated by TAF, researchers from UK and Indonesia, have been used to inform reintroduction decisions and we hope this herpes study will also break through the gap of our knowledge about this virus in the wild.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

The other challenge this year is siamang husbandry management. We have recently opened the siamang rehabilitation program in Sumatra and we have had two cases of siamang losing condition. Our senior vet suspected a bacterial infection that may have come from the soil or water.

2023 – Research, Awareness and Education

Research:

In Java, for JPRC and JLRC, we have ongoing student research projects on primate behaviour and husbandry. For SRC in South Sumatra, a collaborative research program is being discussed with two universities in Lampung and South Sumatra province (Universitas Lampung (UNILA) and Universitas Sriwijaya (UNSRI)). The agreement between TAF Indonesia and UNILA was signed this year, and we plan to involve students and lecturers from the biology department there to help with post release monitoring and the collection of scientific data.

Awareness and Education programs:

These programs are now running normally after being suspended during the COVID-19 pandemic, with our team continuing school programs and awareness events.

Between October 23rd and 24th 2023, in-line with the celebration of the International Gibbon Day 2023, a two-day event was held in Bandung involving a seminar, educational talks and discussions about primate reintroduction. The event was attended by around 200 students, people from local communities, government officials and colleagues in the conservation field.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

2023 – Community Engagement:

To help foster positive participation of the local communities around the release site surrounding Mt. Tilu NR, we started community ranger projects in West Java. This is the first project of this kind that we have initiated for the TAF Indonesia project and we received funding from OPCF (Ocean Park Conservation Fund) Hong Kong for 2023-2024.

The project started in August 2023, and the program continues to run monthly, with the progress of the project detailed below:

Given the progress made at this stage of the project, we are confident that the remaining activities will be equally productive and continue in 2024.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

2023 – Project official visitors :

  1. IUCN SOS Asia Pacific Project Manager, Alexander Mc William, with his secretary visited the West Java project on 20 – 21st February 2023 to see and evaluate of the grant they donated for Javan gibbon reintroduction project 2021-2022.

  2. TAF UK team - Amos Courage, Tony King and Daniel Hulme visited in March 2023. They visited the West Java centre and release site in Mt Tilu NR, followed by a visit to the Sumatran Siamang centre in South Sumatra and Padang Sugihan wildlife refuge. They also had a meeting with Hashim Djojohadikusumo (Chairman of Arsari Foundation), and Jansen Manansang (Director of Taman Safari Indonesia).

  3. In May 2023, we had Holly Thompson, International Studbook Keeper of Javan Gibbons, from Perth Zoo visit the West Java centre to view our Javan gibbon facility and husbandry.

  4. May 2023, Matt Ford, Animal Director of Howletts Wild Animal Park visited the West Java centre and the Mt Tilu release site.

  5. August 2023, Project Manager of TAF Madagascar, Maholy Ravaloharimanitra visited the West Java centre.

  6. Several officials visited for evaluation and a meeting conducted by BKSDA West Java, Central Java and DKI Jakarta province.

  7. November 2023, there was an official visit from Deputy Minister, DR. Aloe Dohong, and a team from the Ministry of Environment and Forestry to see our new Siamang Centre in South Sumatra.

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

2023 – Administrative and Donors:

The administrative achievements and tasks completed for 2023:

  1. Progress reports written and distributed (weekly, monthly, quarterly and semester reports) to TAF UK, BKSDA West Java, East Java, South Sumatra and Ministry of Environment and Forestry (MoEF).

  2. Series of meetings, drafting and finalisation of project evaluations and planning documents (including budgeting) for 2024 project by BKSDA West Java, East Java, South Sumatra.

  3. Extend MoU with Primate Research Study (PSSP), IPB University, Bogor.

  4. A new MoU signed for the research program between TAF Indonesia and University Lampung, Sumatra.

  5. A new MoU between TAF Indonesia and Parahita Lab for animal testing agreement for Siamang Sumatra project.

  6. Final report of IUCN SOS grant for Javan Gibbon Reintroduction project, West Java.

Donors:

TAF Indonesia with the TAF UK fundraiser team continue to apply for grants for our additional project activities such as for education, awareness and capacity building. This year, we were successful in receiving support from the two donors below:

  1. Dierenpark Amersfoort, Netherland for Sumatran Siamang Information project 2023 (completed 2023) .

  2. Ocean Park Conservation Fund for Mt. Tilu Community Rangers Project 2023-2024 (ongoing program).

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The Aspinall Foundation

Trustees’ Annual Report

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Madagascar

Social outreach and Education

CAZ:

We have used the celebration of the World Lemur Day as an opportunity to present the new project funded by CEPF to the community of Ranomainty. 177 school kids from the primary school of Ranomainty attended the organised activities with 24 for football players, coordinated by 6 teachers, 37 VOI members and 26 nonmembers.

Sharing notebooks during the celebration of the World Lemur Festival in Ranomainty

Football tournament as an incentive to get nonschooled teenager engaged in conservation

ADTL:

For Andriantantely, the day was dedicated to habitat/forest recovery. 62 people from the VOI were collecting wildlings and seeds in forest, potted them, shading and wetting 1,496 wildlings and 30 seeds from 40 different native species.

Awareness Raising – Andriantantely © Hery Nirina Randriahaingo

Potting seeds and wildlings © Hery Nirina Randriahaingo

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Conservation action:

Rangers:

Four rangers from Komadio and two from Marofototra received training on fish population and fishing monitoring, as well as on laws and regulations related to fishing and freshwater. They also received training on fining processes and the transfer of management, along with laws and regulations related to forests and hunting.

Thanks to CEPF support, ten rangers from CAZ were equipped with new GPS devices, cameras, and binoculars. They were also updated on monitoring methods and practices. Rangers from Andriantantely were able to continue their monitoring and patrol work, although the number of days worked was reduced due to the lack of available funds.

Teachers:

In collaboration with the NGO Fanambinantsoa, and financed by CEPF, the first session of teacher training on environmental education and market gardening took place in December 2023 in Sakalava. Twenty-nine teachers from eight schools were trained during this session.

VOI:

Our team have ensured regular follow-up of the VOI’s management tools (keeping track of the number of members and their contributions, keeping track of the activities conducted and their results)

Training of the rangers within MAB in collaboration with DRPEB 2023.11 © Mamitiana Henriette Raharimalala

Teachers’ training in Sakalava 2023.12.23

© ONG Fanambinantsoa

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The Aspinall Foundation

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Theoretical training on Agricultural technics in Raboana - 2023.11.26

Training on Rere monitoring and survey, organised by DWCT in Ankarafantsika - 2023.12.12

Protection and Monitoring

Rangers:

There are 10 rangers patrolling and monitoring 4 days per week within the transfer of management in the CAZ area. Within Andriantantely and its surrounding area, 25 rangers are patrolling and monitoring within 3 days per week. Occasional patrolling and monitoring are conducted by the 10 rangers within the MAB area.

Rangers at work, Ranomainty

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The Aspinall Foundation

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Camera trapping:

5 cameras in Andriantantely. 10 additional camera traps within CAZ, thanks to the support from CEPF

One of the rangers installing the camera trap in Ranomainty

Haingo, checking the camera traps in Andriantantely

Results and actions:

In July, 3 hectares of forest were reported to be lost in Ranomainty due to illegal cutting. We supported the VOI in denouncing this infraction to the DREDD, but no follow-up was seen. The reason given by the DREDD is that the management transfer of the VOI had expired. In Andriantantely, 5 hectares of forest has been lost because of Tavy, whilst young trees transplanted by the VOI have been sabotaged and pulled up 5 times in Lanonana. In addition, 12 illegal ‘settlings’ were found, as were 5 illegal charcoal businesses, with 37 precious woods cut down, and 9 hunting trap found and dismantled. Awareness raising sessions (5 in total) have been organised and conducted in collaboration with local and regional authorities within the Andriantantely project area.

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The Aspinall Foundation

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Observed threats and pressures to the species and their habitats:

Sakalava 2023.10

Andriantantely 2023

Anosikary 2023.08

Komadio 2023.10

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----- Start of picture text -----
Law enforcement and biodiversity:
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Law enforcement in MAB 2023

Law enforcement in Andriantantely 2023.08

Picture from Andriantantely’s camera trap

Picture from CAZ’s camera trap

It is worth mentioning that the Bushnell is still the one that gives best quality photo/video

Flying fox in Ankadimalao - Anosikary

Crowned sifaka in Ankadimalao

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Western Sportive Lemur - Kamakama

Orchids - Kamakama

Observed biodiversity:

Indri in Andriantantely

Humblot’s heron - Marofototra

Greater Bamboo Lemur in Andriantantely

Ankoay - Marofototra

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The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Varecia variegata - CAZ

Diademed sifaka - CAZ

Forest / habitat recovery:

16,000 young trees were taken care in the tree nurseries of the CAZ project before they will be used for the reforestation project of the following year.

Vohiposa 2023.07.20

Dimbiazanjafy 2023.03.14

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Trustees’ Annual Report

The Aspinall Foundation

For the year ended 31 December 2023

Ala Maitso 2023.09

Sakalava 2023.10

Reforestation:

In Andriantantely, 14.5 hectares of degraded forest have been restored and 7 hectares maintained (Invasive Alien Species removed). Regular follow-ups are used to ensure that all dead plants are replacesd. We have a survival rate of 78.4%.

Reforestation with school kids, organised in collaboration with the VOI in Ranomainty

Reforestation in Andranomihoatra 2023.03

Page 28

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Community supports and incentives:

In Ranomainty and Andriantantely, we have donated shirts to three teams to the football tournament winner as an incentive for the non-schooled teenagers of the village.

General notes:

We are working with different groups of people in different communities to reach as much people as possible to raise awareness and educate. Currently, we are working with 18 community associations. Due to a lack of funds, we have suspended our intervention in Kamotro, Ambatomasina and Ankirihitra (supposedly taken over by Impact Madagascar), as well as within the Nosivolo project area.

Region Sites VOI H.Q. Members Members
T M F
Alaotra Mangoro CAZ Ala Maitso Ranomainty 47 44 03
Imaitsoanala Sahanomana 37 19 18
Mamy& Faniri Raboana 55 50 05
Mamelontsoa Sakalava 51 33 18
Atsinanana ADTL Ainga Vao Mangabe 31
Dimbiazanjafy Lanonana 72
S. Sahanio Ambodimanga 68
ATLM Andranomihoatra 40
Tambatra Andonabe 50
S. Sahamanantsy Andonabe 60
Tsiriniala Sandraka N.D.
Sahavola Ambodimolaina - - -
Mahatamana Anivorano Est - - -
Manakana Andonabe - - -
Boeny MAB Lovasoa Anosikary 30
Betsiboka MAB Mitsinjo Marofototra 34 26 8
Tsimialonjafy Komadio 49 48 1

Lemur data

CAZ ADTL MAB
Prolemur simus 65 679
Varecia variegata 96 485
Indri indri 158 1,343
Propithecus diadema 61 124
Propithecus coronatus 175
Eulemur mongoz 31
Eulemur rufus 19
Eulemur rubriventer 32 10
Eulemur fulvus 150 528
Hapalemurgriseus 188 422

Page 29

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

South Africa

The Aspinall Foundation in South Africa has continued to implement groundbreaking activities in the region. Much focus has been placed on ensuring that we have been adequately addressing our mandate of responding to wildlife emergencies, rewilding captive animals, and restoring landscapes in the region. To date, we have rescued, translocated, or rewilded over 900 animals, from pangolins to elephants, whilst driving our agenda of securing large tracts of land for the conservation of endangered species.

Emergency rescues and specialised wildlife interventions

During 2023, the Aspinall Team implemented some of the most challenging wildlife interventions to date and in some of the most challenging conditions. Some of the key projects included the following:

Page 30

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Tembe Elephant Bull Translocation

Page 31

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Rhino Dehorning Operation at Loskop Dam Nature

One of over 80 cheetah translocations for 2023

Page 32

Trustees’ Annual Report

The Aspinall Foundation

For the year ended 31 December 2023

Various rhino rescue programmes

Removal of snare from young elephant

Various Pangolin rescues

Crocodile reintroduction and GPS monitoring programmes.

Page 33

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Rewilding Interventions

The Aspinall Foundation remains the only organisation actively rewilding captive animals, including a variety of species, in Southern Africa. We have managed to implement some very interesting and complex rewilding projects in 2023. The strategy has included the rewilding of animals from international sources but also rewilding of captive animals from within South Africa.

These projects include the following:

Page 34

Tiger from Pakistan walks into his new home in South Africa

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

We have successfully completed the development of the rewilding enclosure for Azi and Zazu, which has been approved by Government.

Caracal that was released with a collar so that she can be tracked.

Meerkat that was rescued and rewilded

Page 35

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Mongoose that were flown to Zimbabwe and rewilded at Imire

Landscape Restoration Project: Loskop Dam Nature Reserve

Our initiative at Loskop Dam Nature Reserve is progressing exceptionally well now that the land proclamation issues have been resolved. We are in the final stages of concluding the agreement and we are comfortable that it should be signed by February 2024. The Mpumalanga Tourism and Parks Agency have also requested that the scope of the agreement includes the larger Loskop cluster area which extends to Mabusa Nature Reserve, SS Skosana Nature Reserve and Mdala Nature Reserve.

We have however continued with planning work and interventions at Loskop which includes fencing planning, wildlife interventions, aerial surveys, etc. Should the Loskop Agreement be signed as planned, it will be the first project of its kind in South Africa. We are actively exploring funding options and identifying opportunities for long term investment. The relationship between TAF and the MTPA is strong and the organisations are working well together.

We are ready to start implementing projects as soon as the agreement is signed as we want to make a meaningful impact as soon as possible. We are also making some significant progress in terms of expansion planning and we will be expanding the reserve to 50 000 ha in the first two years, almost doubling its size.

Page 36

Trustees’ Annual Report

The Aspinall Foundation

For the year ended 31 December 2023

Loskop Cluster Map

Overview of Loskop

Page 37

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Romania

Hyphen, the European Bison, transported from Port Lympne to the Fagaras Mountains in the Southern Carpathians in December 2020, continues to thrive. He is generally solitary but contacts the herd of released females regularly, and may be the sire of some of their calves but DNA testing would be necessary to confirm this. The first reintroduced population in Romania, in Vanatori Neamt Nature Park, also continues to flourish, including some of the females sent from the UK and released back in June 2014.

Page 38

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Pakistan

We continue to work closely with the Pakistan Environment Trust to develop a programme to reintroduce greater one-horned rhinos to Pakistan. The Greater one-horned rhino is one of the iconic megafauna of the Indian sub-continent, and the proposed programme will see the return of rhinos to Pakistan for the first time in 400 years. Work has been ongoing to identify at least one reintroduction site in Pakistan to spearhead this programme, involving careful consideration of various ecological and socioeconomic factors to ascertain its suitability. The preferred site will be subject to a detailed feasibility study, planned for 2024 in collaboration with various international stakeholders. Once the site has been agreed upon, the programme will need investment in habitat restoration, in community involvement, and in development of appropriate infrastructure and security measures. In the initial stages of the programme a small number of rhinos will be sourced from the global captive population and/or from Nepal for transfer to Pakistan, where they will undergo a carefully monitored rewilding programme prior to full release into the reintroduction site. Additional transfers of rhinos to Pakistan are likely to be necessary over a number of years to build up appropriate levels of genetic diversity within the reintroduced population. Once breeding is successful in Pakistan, it may also be appropriate to return some of the offspring into regional or global populations, to reduce the potential for inbreeding within the Pakistan population and to help ensure optimum levels of genetic diversity across all populations of the species.

Page 39

Trustees’ Annual Report

The Aspinall Foundation

For the year ended 31 December 2023

Plans for the future:

We are still working on the elephant transfer focusing on a reserve in Kenya that meets all the requirements needed for such a complex project. Our partners have already invested a lot of resources on the site, and we have had a good dialogue with the government officials. The elephant herd in the UK has been habituated to spending time in the transport crates and we hope to make significant progress in 2024.

In Congo we will continue to habituate Kebu and Joshi to their post release existence by increasing the amount of wild food they receive and reducing the domestic food. Bomassa now plays a key role in the rehabilitation process as his confidence and experience will continue to rub off on Joshi.

Monitoring of the released gorillas is a continuous process and is central to the work in Congo, the incredible footage that we routinely discover of the gorilla groups with our camera traps placed throughout the reserve is always a delight to see. We have grown accustomed to the footage of large groups as they amble past the camera with infants and black backs riding their mothers like cowboys, but it should not be forgotten that this is the most successful great ape reintroduction (and perhaps most successful reintroduction project).

In Gabon we are continuing to monitor the released gorillas in the national park albeit mostly with camera traps. Again, the wonders of the ever expanding gorilla groups that we routinely find in the camera trap footage is easy to grow accustomed to but we have successfully restored a sustainable gorilla population to this area, an incredible conservation milestone. Djongo, Mayombe and Taali, the zoo born family group (except Taali), are continuing to grow more confident and we hope to release them off the rehabilitation island as soon as safe to do so.

We will continue to work with ANPN to help protect the other fauna (and flora) within the national park. It is well documented that a continuous presence in a protected area boosts its overall conservation by deterring poaching and other illegal activities. Our presence in this remote site since 1998 has been one of the main reasons for the national park restoration and increased wildlife number (including the reappearance of the Bateke lion in 2015).

Our primate reintroduction projects in Java will continue with their successful release schedule in 2024 and our director Made Wedana has started work on a new project in Sumatra to rescue and rewild captive siamang gibbons. This will be our first managed project outside of Java.

In Madagascar director Maholy Ravaloharimanitra continues her valuable and increasingly internationally recognised work to protect some of the rarest primates on the planet (and their habitat). Maholy has been the recipient of several conservation awards and manages to attract donors to fund the foundation's efforts in Madagascar, a testament to her hard work which she will continue into 2024.

The plans in South Africa for 2023 will be focused on the implementation of the Loskop Agreement and further expanding the reserve. Unlocking this reserve will be a legacy project for the Foundation and will really be a pioneering project in South Africa.

From an intervention perspective, we intend to partner with African Parks in the translocation and rewilding of hundreds of rhinos in Southern Africa from John Hume's property. We will further be expanding our rewilding work in South Africa and will continue our large-scale elephant translocations.

In Pakistan we continue to work closely with the Pakistan Environment Trust to develop a programme to reintroduce greater one-horned rhinos to Pakistan. The Greater one-horned rhino is one of the iconic megafauna of the Indian sub-continent, and the proposed programme will see the return of rhinos to Pakistan for the first time in 400 years. We have now identified a potential site called Lal Suhanra, a national park in the Bahawalpur district of Punjab province. The park was home to a pair of captive rhinos, donated to Pakistan by the Nepal government where they lived for 30 years. Sadly, they did not breed but the environment suited them so we hope that this could provide a launchpad for a concerted breeding effort for the species in the future in Pakistan. We plan to visit Nepal next year to source rhinos for the project.

Page 40

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

The Trustees commissioned a full and detailed Governance Review during 2020. This has been carried out in accordance with the Charity Governance Code for Larger Charities (2020). Substantial progress has been made with most of the recommendations having been implemented.

Objectives and activities

The objectives of the Foundation are:

  1. The advancement and promotion (whether in England or elsewhere in the world) for the public benefit of education and useful knowledge in relation to the science of zoology, the preservation and exhibition of living animals and in particular (without prejudice to the generality of the foregoing) all wild animals in danger of extinction and the conservation of natural wildlife inhabitants.

  2. Such other charitable purposes as the Trustees may by Deed appoint.

Our commitment is to conservation, through captive breeding, education, and reintroduction. We are working in some of the world’s most fragile environments to save endangered animals and return them to the wild. We seek to meet our charitable objectives in three ways:

  1. To halt the extinction of endangered species in the wild by reintroducing animals and developing sustainable conservation activities; providing economic benefits to local communities and helping manage wilderness areas.

  2. Provide the most natural environment possible for animals in both animal parks and be world leaders in our animal husbandry and breeding programmes.

  3. Increase public understanding of animal welfare and how we can all act to protect animals in their natural environments.

Public benefit

Section 17 of the Charities Act 2011 requires that charitable activities provide a public benefit. The Trustees confirm that, when planning its activities, they have complied with the duty to ‘have regard’ to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.

The Foundation’s work on the reintroduction of species, including scientific evaluations and co-management of protected areas, helps preserve the natural environment and natural resources for the public benefit, for both current and future generations.

Structure, Governance and Management

Organisational structure

The Board of Trustees comprises the key governance personnel of the Foundation. The Board of Trustees holds regular meetings, at least four each year, and is responsible for the strategic direction and policies of the Foundation. Trustees are available at short notice between meetings, if required, to deal with any matters which may need attention.

The Trust has created an Investment Committee and are considering whether establishing further committees would be beneficial.

Page 41

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

The day-to-day management is delegated, subject to a delegation matrix approved by the Board of Trustees, to relevant individuals from within the senior management team who are responsible for various operational matters including finance and employment. All delegated actions are monitored by the Trustees.

Appointment and removal of Trustees

The Charity is run by a board of four Trustees. New Trustees may be appointed, up to a maximum of seven, by the existing Trustees. The statutory power to appoint a Trustee vests in the Chairman and is exercised by deed. If at any time, owing to retirement, death or removal, the number of Trustees is reduced to less than three, the Chairman shall immediately appoint one or more Trustees to replace the Trustees who have retired, died or been removed. A Trustee may be removed by being given written notice from the Chairman.

The Foundation Trust Deed requires that, where possible, only lineal descendants of the founder can be the board chair.

Trustee induction and training

New Trustees are provided with an induction pack outlining their legal obligations under charity law, a copy of the charity's Trust Deed and recent financial performance of the charity. They are also given the opportunity to visit the Parks for a briefing on our work on breeding and caring for rare and endangered species.

All Trustees receive ongoing training in areas such as Trustee Roles and Responsibilities, Safeguarding and other relevant legal updates,

Policies

The Board of Trustees has established a suite of policy statements. These cover recruitment, conflicts of interest, expenses, safeguarding, financial reserves, and investments. Policies are regularly updated and there is an ongoing process to add new policies as the need arises.

Related parties and relationships with other organisations

The Foundation works closely with an associated charity, The Howletts Wild Animal Trust (‘THWAT’). The Aspinall Foundation and THWAT have two Trustees in common, Damian Aspinall and Tansy Aspinall. THWAT has established world-class animal welfare and captive breeding programmes in its two parks in Kent: Howletts Park and Port Lympne Reserve, which recently received an extremely positive conservation assessment report from DEFRA. The Foundation re-introduces animals from the parks’ captive breeding programs back into the wild. The success of these programs can be measured by the number of captive births and animal reintroductions set out elsewhere in this report.

This work takes place alongside the other programmes the Foundation runs overseas, where it is protecting animals from human development and poaching.

The Foundation shares resources with THWAT helping to minimise costs.

Remuneration policy for key management personnel

Key management personnel pay rates are set in line with other charities or companies of a similar size and with regard to our location and the necessary skills and experience for the role

Page 42

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Fundraising activity

The Foundation’s approach to fundraising focuses on building relationships with individuals and companies that are committed to protecting rare and endangered species.

The Foundation aims to ensure that our supporters and the wider public are treated fairly and with respect. The Foundation remains fully committed to its core fundraising principles and is continually looking for ways to improve and to address new challenges.

Fundraising approach:

The Foundation uses a variety of fundraising approaches to engage with members of the public including working with face-to-face fundraisers, local events, community activities and utilising multiple channels, including direct mail, email, telephone, social media, online communications as well as our own in-house publications such as our supporters’ magazine, Wildcry. These are vital ways to both raise awareness and engage people with the work of the Foundation.

Our own internal fundraising team carries out much of this activity, but we also work with carefully selected and trained professional partners with specific expertise to support our team.

The Foundation has a Personal Data Governance Framework in place which is regularly reviewed and updated to maintain and demonstrate compliance with the General Data Protection Regulation and the Privacy and Electronic Communication Regulations.

Fundraising Standards:

The Foundation voluntarily subscribes to the Fundraising Regulator and its Code of Fundraising Practice. The Foundation is also a member of the Chartered Institute of Fundraising. No failures to comply with fundraising standards have been notified to the Foundation.

The Foundation is also signed up to the Fundraising Preference Service which enables individuals to opt out from receiving fundraising communications. The Foundation received and actioned requests where necessary from this service last year.

Protection of vulnerable people:

The Foundation is especially careful and sensitive when engaging with vulnerable people. This is reflected in our fundraising practices, through the guidance and training of our staff, and by choosing not to undertake door to door fundraising.

Feedback and complaints:

The Foundation had over 600,000 interactions with its supporters last year through a wide range of channels, including events, face-to-face, telephone, email, in the press, through social media and on the website. Supporter surveys have regularly been undertaken in order to get direct feedback from donors.

Where shortcomings have been identified, guidance and training for staff has been reviewed and enhanced, with new processes put in place, both to prevent recurrence of the issues and to improve supporter experience. The Foundation provides contact details for its complaints process and includes these details on its website.

The Foundation recorded one complaint in 2023 which was settled satisfactorily.

Page 43

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Financial review

During 2023 the total income for the Foundation was £1.529,000 (2022: £1.921,000). This was from three main sources: donations from more than 9,000 regular supporters to the charity, corporate donations, and Gift Aid refunds. Income is directed towards the charitable work of the Foundation in both the UK and overseas in line with the Foundation’s commitments to its supporters. The operating deficit for 2023 was £1,793,000 (2022 deficit of £3,357,000) and the new balance sheet position at 31[st] December 2023 was £33,581,000 (2022: £35,374,000)

Investment policy

The objective of the Trust’s investment policy is to maximise long-term capital returns with a reasonable tolerance to market volatility and a paramount focus on liquidity and diversification.

All investments held by the Foundation have been acquired in accordance with powers vested in the Trustees. Slater Investments Limited advises on the Foundation's investment portfolio. The Foundation had a net loss of £141,000 (2022 loss of £2,210,000) on investments .

Reserves policy

At the year end the Foundation had total reserves of £33,581,000. Of this amount, £685,000 are restricted and not available for the general purposes of the charity.

Additionally, £24,292,000 was invested in long-term fixed assets which consisted of Freehold and Long Leasehold properties, Fine Art, and other items, and £107,000 in non-liquid investments. The free reserves available to the Foundation were therefore £8,497,000. There were no material amounts committed at the end of the reporting period.

The free reserves held are in line with the Investment and Reserves Policy which notes that the Foundation has limited fixed funding requirements and non-discretionary liabilities. Its annual administrative costs are approximately £1,000k. It is the policy of the Foundation to predominantly pursue an investment strategy aimed at maximising long-term capital returns to preserve its reserves.

It is difficult to forecast with any degree of certainty what future funding streams will look like. Nevertheless, the Trustees have adopted a policy to ensure that the resources of the Foundation are used in the most effective way to support its objects and also to ensure that the Foundation remains financially resilient. Our reserves policy is therefore to maintain sufficient reserves to enable the Foundation to continue its activities should there be a drop in income. As such reserves are required to provide an adequate level of working capital to ensure the ongoing viability of our core work, cover for risks of unforeseen expenditure and/or unanticipated loss of income.

The Trustees are also mindful of the fact that should the Foundation need to wind down its activities, there are commitments that would need to be met, including staff liabilities, operating costs commitments and the repayment of restricted fund donations.

In light of the above, the Trustees aim to maintain a level of reserves sufficient to cover 6 months of annual administrative costs. As such the objects of the reserves policy have been successfully achieved.

The reserves policy is reviewed at least annually by the Aspinall Foundation Investment Committee which reports to the Foundation’s Trustee Board.

Page 44

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

Principal risks and uncertainties and risk management

The Trustees are very aware of the types of major risks to which the Foundation is exposed, and they have prepared an appropriate Risk Management Register, which both identifies those risks and indicates what provision has been made for dealing with them. This was conducted in line with Charity Commission guidance CC26.

The principal risks to which the Foundation is exposed include:

The Trustees continue to keep under review the systems in place, which they believe are appropriate to the size of the Charity and the nature of its operations, in order to mitigate these risks.

These matters are considered at the quarterly board meetings (or more frequently if required).

.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for maintaining proper accounting records which 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/constitution. 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.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 45

The Aspinall Foundation

Trustees’ Annual Report

For the year ended 31 December 2023

The Trustees commissioned a full and detailed Governance Review during 2020. This has been carried out in accordance with the Charity Governance Code for Larger Charities (2020). Substantial progress has been made with most of the recommendations having been implemented.

Statement as to disclosure to our auditors

In so far as the trustees are aware:

Auditors

Goldwins Limited were re-appointed as the auditors of the charity during the year and have expressed their willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 31st October 2024 and signed on their behalf by

……………………………….

J D A Aspinall Trustee

Page 46

Independent Auditor’s report to the Trustees of The Aspinall Foundation

Opinion

We have audited the financial statements of The Aspinall Foundation for the year ended 31 December 2023 which comprise the consolidated Statement of Financial Activities, the consolidated and parent charity Balance Sheet, consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in the preparation of the group financial statements is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the group and the parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Page 47

Independent Auditor’s report to the Trustees of The Aspinall Foundation

Other information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charity and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Page 48

Independent Auditor’s report to the Trustees of The Aspinall Foundation

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 49

Independent Auditor’s report to the Trustees of The Aspinall Foundation

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditorʼs report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Date: 31 October 2024

………………………………

Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

Goldwins Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 50

The Aspinall Foundation

Consolidated Statement of Financial Activities (Including Income and Expenditure Account) For the Year Ended 31 December 2023

Note
£'000
Income from:
Donations and legacies
3
1,146
Other trading activities
4
86
Investment income
5
219
Total income
1,451
Expenditure on:
6
Raising funds
801
Charitable activities
2,352
Total expenditure
3,153
Net gains/(losses) on investments
12
(141)
Net income/(expenditure) for the year
(1,843)
Other gains/(losses)
(23)
Net movement in funds
(1,866)
Reconciliation of funds:
28
Total funds brought forward
34,762
Total funds carried forward
32,896
Unrestricted
Funds		 £'000
78
-
-
78
-
5
5
-
73
-
73
612
685
Restricted
Funds		 Total
Funds
2023
£'000
1,224
86
219		 Total
Funds
2022
£'000
1,747
37
137
1,529 1,921
801
2,357		 904
2,191
3,158 3,095
(141) (2,210)
(1,770)
(23)		 (3,384)
27
(1,793)
35,374		 (3,357)
38,731
33,581 35,374

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

Page 51

The Aspinall Foundation

Consolidated Balance Sheet As at 31 December 2023

Notes 2023 2022
£'000 £'000 £'000 £'000
Fixed assets
Tangible assets 10 24,292 24,416
Investments 12 8,700 9,805
32,992 34,221
Current assets
Stock 16 9 15
Debtors 14 1,114 1,528
Cash at bank and in hand 613 1,008
1,736 2,551
Creditors: amounts falling due within one 18 (897) (648)
year
Net current assets 839 1,903
Total assets less current liabilities 33,831 36,124
Creditors: amounts falling due after more
than one year 20 (250) (750)
Total net assets 33,581 35,374
Funds of the Charity
Restricted funds 28 685 612
Unrestricted funds: 28
General reserves 19,700 21,566
Revaluation reserve 13,196 13,196
Total unrestricted funds 32,896 34,762
Total funds 33,581 35,374

Approved by the Trustees on 31st October 2024 and signed on their behalf by:

…………………………………………

J D A Aspinall Trustee

Page 52

The Aspinall Foundation

Charity Balance Sheet As at 31 December 2023

Notes 2023 2022
£'000 £'000 £'000 £'000
Fixed assets
Tangible assets 11 24,292 24,416
Investments 13 8,700 9,805
32,992 34,221
Current assets
Stock 17 9 15
Debtors 15 1,114 1,528
Cash at bank and in hand 368 864
1,491 2,407
Creditors: amounts falling due within one
year 19 (897) (648)
Net current assets 594 1,759
Total assets less current liabilities 33,586 35,980
Creditors: amounts falling due after more
than one year 21 (250) (750)
Total net assets 33,336 35,230
Funds of the Charity
Restricted funds 29 531 508
Unrestricted funds: 29
General reserves 19,609 21,526
Revaluation reserve 13,196 13,196
Total unrestricted funds 32,805 34,722
Total funds 33,336 35,230

Approved by the Trustees on 31st October 2024 and signed on their behalf by:

…………………………………………

J D A Aspinall Trustee

Page 53

The Aspinall Foundation

Consolidated Statement of Cash Flows For the Year Ended 31 December 2023

2023 2023 2022 2022
Notes £'000 £'000 £'000 £'000
Cash flows from operating activities:
Net cash provided by / (used in) operating activities 22 (1,511) (1,895)
Cash flows from investing activities:
Interest/ rent/ dividends from investments 219 137
Sale/ (purchase) of fixed assets investments 964 (2,030)
Sale/ (purchase) of fixed assets (44) (4)
Cash provided by / (used in) investing activities 1,139 (1,897)
Change in cash and cash equivalents in the year (372) (3,792)
Cash and cash equivalents at the beginning of the year 1,008 4,773
Change in cash and cash equivalents due to exchange rate movements (23) 27
Cash and cash equivalents at the end of the year 23 613 1,008

Page 54

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

1 Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity's financial statements.

Basis of Preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP FRS 102).

The charity meets the definition of a public benefit entity under FRS 102.

Basis of Consolidation

The consolidated Statement of Financial Activities and Balance Sheet include the financial statements of the Foundation and its Subsidiary made up to 31 December 2023.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable that economic benefit can be measured reliably, and is material to the accounts. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the Trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Page 55

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

1 Accounting Policies (continued) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing restatement of investment assets at market values.

Restricted funds are accounted for in accordance with the terms of the trust arising from the express or implied wishes of the donors, in so far as these are intended to be binding on the trustees.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Expenditure is allocated to categories in accordance with the main activity of the staff concerned or the substance of the costs incurred.

Tangible fixed assets and depreciation

Freehold land and works of art are not depreciated, as these assets are, in the opinion of the trustees, worth in excess of their book values. The freehold mansion is depreciated at the rate of 2% per annum on cost.

Software & IT Equipment, Furniture, Fixtures and Equipment are stated at cost less depreciation at a rate of 25% reducing balance. Motor vehicles are stated at cost less depreciation at a rate of 25% straight line.

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.

Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Fixed Asset Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Unlisted investments are stated at trustees' valuation.

Page 56

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

1 Accounting Policies (continued) Debtors

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

Cash at bank and in hand

Cash at bank and cash 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.

Creditors and provisions

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

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.

Foreign Currencies

Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the Balance Sheet date. Gains or losses on translation are included in the Statement of Financial Activities.

Pensions

The Foundation makes contributions to a defined contribution scheme for certain staff members. The cost of these contributions is charged to the Statement of Financial Activities when incurred.

Page 57

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

2
Detailed comparatives for the statement of financial activities
Unrestricted
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
Income from:
Donations and legacies
1,500
247
1,747
Other trading activities
37
-
37
Investment income
137
-
137
Total income
1,674
247
1,921
Expenditure on:
Raising funds
904
-
904
Charitable activities
2,087
104
2,191
Total expenditure
2,991
104
3,095
Net gains / (losses) on investments
(2,210)
-
(2,210)
Net income for the year
(3,527)
143
(3,384)
Other gains/losses
27
-
27
Net movement in funds
(3,500)
143
(3,357)
Reconciliation of funds:
Total funds brought forward
38,262
469
38,731
Total funds carried forward
34,762
612
35,374
3
Income from donations
2023
2022
£'000
£'000
Legacies
16
158
Donations
937
1,365
Animal sponsorships
271
224
1,224
1,747
2023
2022
4
Income from other trading activities
£'000
£'000
Other
86
37
86
37		 2
Detailed comparatives for the statement of financial activities
Unrestricted
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
Income from:
Donations and legacies
1,500
247
1,747
Other trading activities
37
-
37
Investment income
137
-
137
Total income
1,674
247
1,921
Expenditure on:
Raising funds
904
-
904
Charitable activities
2,087
104
2,191
Total expenditure
2,991
104
3,095
Net gains / (losses) on investments
(2,210)
-
(2,210)
Net income for the year
(3,527)
143
(3,384)
Other gains/losses
27
-
27
Net movement in funds
(3,500)
143
(3,357)
Reconciliation of funds:
Total funds brought forward
38,262
469
38,731
Total funds carried forward
34,762
612
35,374
3
Income from donations
2023
2022
£'000
£'000
Legacies
16
158
Donations
937
1,365
Animal sponsorships
271
224
1,224
1,747
2023
2022
4
Income from other trading activities
£'000
£'000
Other
86
37
86
37		 2
Detailed comparatives for the statement of financial activities
Unrestricted
Funds
Restricted
Funds
Total
Funds
£'000
£'000
£'000
Income from:
Donations and legacies
1,500
247
1,747
Other trading activities
37
-
37
Investment income
137
-
137
Total income
1,674
247
1,921
Expenditure on:
Raising funds
904
-
904
Charitable activities
2,087
104
2,191
Total expenditure
2,991
104
3,095
Net gains / (losses) on investments
(2,210)
-
(2,210)
Net income for the year
(3,527)
143
(3,384)
Other gains/losses
27
-
27
Net movement in funds
(3,500)
143
(3,357)
Reconciliation of funds:
Total funds brought forward
38,262
469
38,731
Total funds carried forward
34,762
612
35,374
3
Income from donations
2023
2022
£'000
£'000
Legacies
16
158
Donations
937
1,365
Animal sponsorships
271
224
1,224
1,747
2023
2022
4
Income from other trading activities
£'000
£'000
Other
86
37
86
37
1,674
247
904
-
2,087
104
2,991
104
(2,210)
-
(3,527)
143
27
-
(3,500)
143
38,262
469
34,762
612
1,224
1,747
2023
2022
£'000
£'000
86
37
86
37

Page 58

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

5
Income from investments
Income from listed investments
Rental income
Interest on loans		 2023
2022
£'000
£'000
81
30
66
54
72
53
219
137

6 Expenditure

Costs directly allocated to
activities
Staff costs
Direct
Fundraising costs
Direct
Donations
Direct
Maintenance
Direct
Depreciation
Direct
Legal and professional fees
Direct
Support costs allocated to
activities
Other overheads
Support costs
Governance costs
Total expenditure 2023
Total expenditure 2022
Income/
Direct
Basis of
Allocation		 2023
2022 Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
261
-
388
-
196
-
845
819
275
-
-
-
-
-
275
305
-
-
1,182
-
-
-
1,182
1,012
-
-
-
-
128
-
128
65
-
-
-
-
168
-
168
164
-
-
-
-
124
146
270
399
25
-
72
11
182
-
290
331
Governance
Costs
Costs of
Investment
Other
Charitable
Projects
Costs of
Generating
Funds
TAF
Overseas
Projects
Raising Funds
Charitable Activities
Support Costs		 2023
2022 Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
261
-
388
-
196
-
845
819
275
-
-
-
-
-
275
305
-
-
1,182
-
-
-
1,182
1,012
-
-
-
-
128
-
128
65
-
-
-
-
168
-
168
164
-
-
-
-
124
146
270
399
25
-
72
11
182
-
290
331
Governance
Costs
Costs of
Investment
Other
Charitable
Projects
Costs of
Generating
Funds
TAF
Overseas
Projects
Raising Funds
Charitable Activities
Support Costs		 2023
2022 Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
261
-
388
-
196
-
845
819
275
-
-
-
-
-
275
305
-
-
1,182
-
-
-
1,182
1,012
-
-
-
-
128
-
128
65
-
-
-
-
168
-
168
164
-
-
-
-
124
146
270
399
25
-
72
11
182
-
290
331
Governance
Costs
Costs of
Investment
Other
Charitable
Projects
Costs of
Generating
Funds
TAF
Overseas
Projects
Raising Funds
Charitable Activities
Support Costs		 2023
2022 Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
261
-
388
-
196
-
845
819
275
-
-
-
-
-
275
305
-
-
1,182
-
-
-
1,182
1,012
-
-
-
-
128
-
128
65
-
-
-
-
168
-
168
164
-
-
-
-
124
146
270
399
25
-
72
11
182
-
290
331
Governance
Costs
Costs of
Investment
Other
Charitable
Projects
Costs of
Generating
Funds
TAF
Overseas
Projects
Raising Funds
Charitable Activities
Support Costs
561
-		 1,642
11		 798

146
3,158		 3,095
203
-
37
-		 -
595
-
109		 (798)
-
-
-
(146)
-
801
-		 1,642
715		 -
-
3,158
-
-
904
-		 1,480
711		 3,095

Of the total expenditure £5,000 was restricted (2022: £104,000) and £3,153,000 was unrestricted (2022: £2,991,000).

7 Net income / (expenditure) for the year

This is stated after charging / (crediting):
Auditors' remuneration
Depreciation		 2023
2022
£'000
£'000
10
10
168
164

8 Taxation

The charity is exempt from income tax as all its income is charitable and is applied for charitable purposes.

Page 59

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

personnel
Salaries and wages
Social security costs
Pension costs
Other staff costs		 2023
2022
£'000
£'000
745
721
45
64
35
21
20
13
845
819

The number of employees whose total employee benefits (excluding employer's national insurance and pension costs) for the reporting period amounting to over £60,000 were as follows:

2023 2022
No. No.
£70,000 - £79,999 1 1
£80,000 - £89,999 - 1
£90,000 - £99,999 1 -
The average number of employees during the period was:
2023 2022
No. No.
22 22

The total employee gross salary and benefits, including employer's national insurance and pension contributions of the key management personnel were £107,484 (2022: £100,788).

The charity trustees were not paid for employment by, nor did they receive any other employment benefits from the Trust in the year (2022: £nil). JDA Aspinall was reimbursed during the year a total of £1,168 (2022: £2,612) for travel expenses incurred on behalf of the Foundation. C Filmer was reimbursed £30.(2022: £47) for travel expenses. No other trustee received any reimbursement of expenses during the year (2022: £nil).

Page 60

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

10 Tangible Fixed Assets - Group

Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2022		 Fine
Art
Total
£'000
£'000
£'000
£'000
£'000
22,966
3,108
36
124
26,234
-
-
-
44
44
-
-
-
-
Motor
Vehicles
Furniture,
Fixtures,
and
Equipment
Freehold
and Long
Leasehold
Property
22,966
3,108
36
168
26,278
1,709
-
18
91
1,818
145
-
9
14
168
1,854
-
27
105
1,986
21,112
3,108
9
63
24,292
21,257
3,108
18
33
24,416

All of the above assets are used for charitable purposes.

11 Tangible Fixed Assets - Charity

Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2022		 Fine
Art
Total
£'000
£'000
£'000
£'000
£'000
22,966
3,108
36
124
26,234
-
-
-
44
44
-
-
-
-
Furniture,
Fixtures,
and
Equipment
Freehold
and Long
Leasehold
Property
Motor
Vehicles
22,966
3,108
36
168
26,278
1,709
-
18
91
1,818
145
-
9
14
168
1,854
-
27
105
1,986
21,112
3,108
9
63
24,292
21,257
3,108
18
33
24,416

All of the above assets are used for charitable purposes.

Page 61

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

12 Fixed Asset Investments - Group

Investments at fair value
Listed investments - UK
Unlisted investments at Trustees' valuation
Movements
Market value at 1 January 2023
Additions
Disposals
Net investment gains/(losses)
Market value at 31 December 2023
13
Fixed Asset Investments - Charity
Investments at fair value
Listed investments - UK
Unlisted investments at Trustees' valuation
Movements
Market value at 1 January 2023
Additions
Disposals
Net investment gains/(losses)
Market value at 31 December 2023
14
Debtors - Group
Trade debtors
Long term debtors
Other debtors
15
Debtors - Charity
Trade debtors
Long term debtors
Other debtors		 2023
2022
£'000
£'000
8,593
9,691
107
114
8,700
9,805
9,805
9,985
-
2,030
(964)
-
(141)
(2,210)
8,700
9,805
2023
2022
£'000
£'000
8,593
9,691
107
114
8,700
9,805
9,805
9,985
-
2,030
(964)
-
(141)
(2,210)
8,700
9,805
2023
2022
£'000
£'000
6
6
875
1,250
233
272
1,114
1,528
2023
2022
£'000
£'000
6
6
875
1,250
233
272
1,114
1,528

Page 62

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

16
Stock - Group
Stock
17
Stock - Charity
Stock
18
Creditors: amounts falling due within one year - Group
Bank loans and overdraft
Trade creditors
Other creditors
Other taxes and social security
Accruals
19
Creditors: amounts falling due within one year - Charity
Bank loans and overdraft
Trade creditors
Other creditors
Other taxes and social security
Accruals
20
Creditors: amounts falling due after more than one year - Group
Bank loans		 2023
2022
£'000
£'000
9
15
2023
2022
£'000
£'000
9
15
2023
2022
£'000
£'000
630
508
105
51
7
3
26
15
129
71
897
648
2023
2022
£'000
£'000
630
508
105
51
7
3
26
15
129
71
897
648
2023
2022
£'000
£'000
250
750
250
750

Page 63

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

21 Creditors: amounts falling due after more than one year - Charity

Creditors: amounts falling due after more than one year - Charity
Bank loans 2023
2022
£'000
£'000
250
750
250
750

22 Reconciliation of net income / (expenditure) to net cash flow from operating activities

Net income/(expenditure) for the reporting period
Interest, rent and dividends from investments
Depreciation charges
(Gains)/ losses on investments
(Increase) / decrease in debtors
(Increase) / decrease in stock
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities		 2023
2022
£'000
£'000
(1,770)
(3,384)
(219)
(137)
168
164
141
2,210
414
343
6
(15)
(251)
(1,076)
(1,511)
(1,895)

23 Analysis of changes in cash during the year

Analysis of changes in cash during the year
Cash at bank and in hand Total
Total
2023
2022
£'000
£'000
613
1,008
613
1,008

24 Analysis of Net Assets between Funds - Group

Tangible fixed assets
Investments
Current assets
Current liabilities
Non-current liabilities
At 31 December 2023		 General
Restricted
Total
Funds
Funds
2023
£'000
£'000
£'000
24,292
-
24,292
8,700
-
8,700
1,051
685
1,736
(897)
-
(897)
(250)
-
(250)
32,896
685
33,581

Page 64

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

25 Analysis of Net Assets between Funds - Group 2022

Analysis of Net Assets between Funds - Group 2022
Tangible fixed assets
Investments
Current assets
Current liabilities
Non-current liabilities
At 31 December 2022		 General
Restricted
Total
Funds
Funds
2022
£'000
£'000
£'000
24,416
-
24,416
9,805
-
9,805
1,939
612
2,551
(648)
-
(648)
(750)
-
(750)
34,762
612
35,374

26 Analysis of Net Assets between Funds - Charity

Tangible fixed assets
Investments
Current assets
Current liabilities
Non-current liabilities
At 31 December 2023		 General
Restricted
Total
Funds
Funds
2023
£'000
£'000
£'000
24,292
-
24,292
8,700
-
8,700
960
531
1,491
(897)
-
(897)
(250)
-
(250)
32,805
531
33,336

27 Analysis of Net Assets between Funds - Charity 2022

Tangible fixed assets
Investments
Current assets
Current liabilities
Non-current liabilities
At 31 December 2022		 General
Restricted
Total
Funds
Funds
2022
£'000
£'000
£'000
24,416
-
24,416
9,805
-
9,805
1,899
508
2,407
(648)
-
(648)
(750)
-
(750)
34,722
508
35,230

Page 65

The Aspinall Foundation

Notes to the Financial Statements For the Year Ended 31 December 2023

28 Movement in Funds - Group

Restricted funds:
Total restricted funds
Unrestricted funds:
General funds
Total unrestricted funds
Total funds
29
Movement in Funds - Charity
Restricted funds:
Total restricted funds
Unrestricted funds:
General funds
Total unrestricted funds
Total funds		 £'000
£'000
£'000
£'000
£'000
612
78
(5)
-
685
Transfers
Income & gains
Expenses &
losses
At the
start of the
year
At the end
of the year
612
78
(5)
-
685
34,762
1,451
(3,317)
-
32,896
34,762
1,451
(3,317)
-
32,896
35,374
1,529
(3,322)
-
33,581
£'000
£'000
£'000
£'000
£'000
508
28
(5)
-
531
Transfers At the end
of the year
Income & gains
At the
start of the
year
Expenses &
losses
508
28
(5)
-
531
34,722
1,272
(3,189)
-
32,805
34,722
1,272
(3,189)
-
32,805
35,230
1,300
(3,194)
-
33,336

Page 66

Notes to the Financial Statements For the Year Ended 31 December 2023

The Aspinall Foundation

30 WeWild Africa NPC

WeWild Africa NPC (previously named The Aspinall Foundation South Africa until February 2023 ) is a South African registered non-profit company (number 2021/481489/08), which was established during 2021. The sole member was the Trustees of The Aspinall Foundation. The accounting period for WeWild Africa NPC ends on 28 February 2023: for the purposes of the consolidated accounts, management accounts for the period ending 31 December 2023 have been prepared.

It was always envisaged that WeWild Africa would be operated independently from TAF and, following the year end, TAF resigned as a member of WeWild Africa NPC.

Assets at 31 December 2023
Liabilities at 31 December 2023
Reserves at 31 December 2023
Gross income for the period ending 31 December 2023
Expenditure for the period ending 31 December 2023
Surplus for the period ending 31 December 2023		 2023
2022
£'000
£'000
245
144
-
-
245
144
508
259
(407)
(258)
101
1

31 Related Party Transactions

Up to 29 September 2023 the Foundation benefitted from gifts in kind, from a company connected to JDA Aspinall, valued at £27,750 (2022: £35,100), for the provision of office space and PA services. Due to changes in the arrangements regarding the head lease, the Foundation no longer receives a benefit for office rental or PA services.

The independent trustees agreed that the Foundation would pay Memina Capital Limited, for the provision of office space. During the year, the Foundation was charged £19,472 by Memina Capital Limited for the provision of office space. JDA Aspinall is the sole director and shareholder of Memina Capital Limited.

During the year, the Foundation received income of £59,589 (2022 - £48,980) from JDA Aspinall for the rent of Howletts Mansion and other recharges. The rent has been calculated by reference to the lease and two independent, professional rental valuations of Howletts Mansion.

During the year the Foundation received invoices from THWAT and its subsidiary of £257,178 (2022: £398,219) being recharges of costs incurred on its behalf, and The Aspinall Foundation raised invoices amounting to £2,594 (2022: £7,725) to THWAT and its subsidiary. The Foundation also has a short term loan account with THWAT. At the year end The Aspinall Foundation owed £54,655 to THWAT and its subsidiary (2022: £2,718).

Page 67

Notes to the Financial Statements For the Year Ended 31 December 2023

The Aspinall Foundation

31 Related Party Transactions (continued)

During the year, the Foundation was charged by Zedra Private Office (UK) Limited (formerly Alvarium PO Limited) £97,753 (2022 - £105,489) at arm's length for accounting, administrative, advisory and project services. CPN Filmer, one of the trustees, was a director of Alti/Alvarium PO Limited during 2023 but resigned his directorship on 7 May 2024.. As this is a charitable foundation, fees are charged at a substantially discounted rate and comprise a fixed element for day to day accounting and administrative work, and a time-based element for additional advisory and project-based work. All invoices are approved by the Chairman and by one of the independent trustees.

The Foundation leases land and buildings to THWAT and its subsidiary for an annual rent of £1 (2022: £1).

Updated leases have been signed during 2024 with THWAT in relation to the TAF properties and is in line with how both charities have operated for many years.

Payments to related parties are all authorised by the Foundation's governing documents.

In May 2020, JDA Aspinall, CPN Filmer, B Goldsmith and RM Birley, in their capacity of Trustees of the Foundation, entered into a Coronavirus Business Interruption Loan 'CBIL' of £2,000,000. No interest or capital repayments were due during the Business Interruption Payment ('BIP') period (12 months from the date of the first drawdown). Thereafter, interest is charged at 2.09% above base rate, and 16 quarterly capital payments of £125,000 are due. The loan is guaranteed by Howletts & Port Lympne Estates Ltd ('HPLE') and The Howletts Wild Animal Trust ('THWAT').

The CBIL was subsequently loaned from the Foundation to THWAT on the same terms as those of the original loan. JDA Aspinall is Chairman and trustee of THWAT and T Aspinall is a trustee of THWAT. The loan is authorised by the Foundation's governing documents. At the year end the balance due was £875,000. Interest payments of £70,231 (2022: £52,412) were made by THWAT to the Foundation.

During 2018, JDA Aspinall, CPN Filmer and RM Birley, in their capacity as Trustees of the Foundation entered into a Limited Guarantee and Indemnity agreement with Barclays Bank PLC for the liabilities of THWAT (amount £5,000,000).

Page 68