ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR …€¦ · Mr. John Kimani Kuria Mr. Mike...

LAIKIPIA WILDLIFE FORUM LIMITED (A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2015

CONTENTS PAGE

COMPANY INFORMATION 1

DIRECTORS' REPORT 2

STATEMENT OF DIRECTORS' RESPONSIBILITIES 3

AUDITOR'S REPORT 4

STATEMENT OF COMPREHENSIVE INCOME 5

STATEMENT OF FINANCIAL POSITION 6

STATEMENT OF MOVEMENT IN FUNDS 7

STATEMENT OF CASH FLOWS 8

NOTES TO THE FINANCIAL STATEMENTS 9 - 22


COMPANY INFORMATION

POSTAL ADDRESS Nanyuki Airstrip

P.O Box 764 - 10400

Nanyuki.

DIRECTORS Maj. Gen. Peter Waweru - Chairman

Mr. Hetz Peter Eric - Executive Director

Mr. Martin Mulama

Mr. Isaac Kinyanjui

Mr. John Kimani Kuria

Mr. Mike Watson

Mr. Mike Harrison

Mr. Mike Roberts

Mr. Alan John William Dixson

Dr. Boniface Kiteme

Mr. David Hewett

Mr. Aggrey Maumo

Mr. Ian Craig

COMPANY SECRETARY Eva Wanja Ndung'u

P.O Box 67388 - 00200

Nairobi.

AUDITORS Joy V. Bhatt & Co.

Certified Public Accountants (K)

P.O Box 69952 - 00400

Nairobi.

BANKERS Standard Chartered Bank Kenya Ltd

P.O. Box 150 - 10400

Nanyuki.

Page 1


DIRECTORS' REPORT

The directors submit their report together with the audited financial statements of the

Company year ended 31st December, 2015.

PRINCIPAL ACTIVITIES

RESULTS FOR THE YEAR

The results for the year are as shown on page 5.

DIRECTORS

The directors who served office during the year were:-

Maj. Gen. Peter Waweru - Chairman

Mr. Hetz Peter Eric - Executive Director

Mr. Martin Mulama

Mr. Isaac Kinyanjui

Mr. John Kimani Kuria

Mr. Mike Watson

Mr. Mike Harrison

Mr. Mike Roberts

Mr. Alan John William Dixson

Dr. Boniface Kiteme

Mr. David Hewett

Mr. Aggrey Maumo

Mr. Ian Craig

AUDITORS

Joy V. Bhatt & Co., the Company's auditors, have indicated willingness to continue in

office in accordance with section 159(2) of the Kenyan Companies Act (CAP 486).

By order of the board

___________________________ ___________________________

Director Director

Date:______________________2016.

Page 2

The company is a non-profit making organization engaged in environment protection and wildlife

conservancy. The Laikipia Wildlife Forum Limited is a company limited by guarantee and does

not have a share capital.


STATEMENT OF DIRECTORS' RESPONSIBILITIES

Approved by the board on………………………..2016 and signed on its behalf by:

___________________________ ___________________________

Director Director

Page 3

The directors are required to prepare financial statements for each financial year which give a true

and fair view of the state of affairs of the organisation as at the end of the financial year and of the

organisation's operating results for that year. They are also required to ensure that the organisation

keeps proper accounting records which disclose with reasonable accuracy at any time the financial

position of the organisation. They are also responsible for safeguarding the assets of the

organisation.

The directors accept responsibility for the preparation and fair presentation of financial statements

that are free from material misstatement whether due to fraud or error. They also accept

responsibility for designing, implementing and maintaining internal controls relevant to the

preparation and fair presentation of the financial statements, selecting and applying appropriate

accounting policies and making accounting estimates and judgements that are reasonable in the

circumstances.

Nothing has come to the attention of the directors to indicate that the organisation will not remain

a going concern for at least the next twelve months from the date of this statement.

The directors are of the opinion that the financial statements give a true and fair view of the state

of the financial affairs of the organisation as at 31st December 2015 and of its surplus/deficit and

cash flows for the year then ended in accordance with the International Financial Reporting

Standard for Small and Medium-sized Entities.

REPORT OF THE INDEPENDENT AUDITORS

TO THE MEMBERS OF

1. We have audited the accompanying financial statements of Laikipia Wildlife Forum Limited, set out on pages

5 - 23 which comprise the statement of financial position as at December 31, 2015, and the statement of

comprehensive income, statement of movement in funds and the statement of cash flows for the period then

ended, and a summary of significant accounting policies, other explanatory notes and appendices.

2. Director's Responsibility for the Financial Statements

As stated on Page 3, the Management is responsible for the preparation and fair presentation of these financial

statements in accordance with International Financial Reporting Standard for Small and Medium-sized Entities.

This responsibility includes: designing, implementing and maintaining internal control relevant to the

preparation and fair presentation of financial statements that are free from material misstatement, whether due

to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that

are reasonable in the circumstances.

3. Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our

audit in accordance with International Standards on Auditing. Those standards require that we comply with

ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial

statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the

financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the

risks of the material misstatement of the financial statements, whether due to fraud or error. In making those

risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation

of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not

for the purpose of expressing an opinion of the effectiveness of the entity's internal control. An audit also

includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting

estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our

audit opinion.

4. Opinion

In our opinion, the financial statements give a true and fair view of the financial position of Laikipia Wildlife

Forum Limited, as of December 31, 2015, and of its financial performance and its cash flows for the period then

ended in accordance with International Financial Reporting Standard for Small and Medium-sized Entities and

comply with the Kenyan Companies Act (CAP 486).

5. Report on Other Legal Requirements

As required by the Kenyan Companies Act we report to you, based on our audit, that:

i) we have obtained all the information and explanations which to the best of our knowledge and belief were

necessary for the purposes of our audit;

ii) in our opinion proper books of account have been kept by the company, so far as appears from our

examination of those books; and

iii) the company's statement of financial position and statement of comprehensive income are in agreement with

the books of account.

The engagement partner responsible for the audit resulting in this independent auditor's report is CPA Joy V.

Bhatt - P/No. 992.

_______________________________

Joy V. Bhatt & Co.Certified Public Accountants (K)

Nairobi.

Date: _________________2016.

Page 4


STATEMENT OF COMPREHENSIVE INCOME


Restated

Notes 2015 2014

Kshs. Kshs.

Income

USAID 3 a 24,775,005 34,916,089

LWF Activities income (Counterpart funds) 3 b 17,654,314 3,372,049

Royal Embassy of Netherlands (Phase III) 3 d 61,834,527 101,898,831

Other income 4 2,014,847 1,973,930

Total Income 106,278,693 142,160,899

Expenditure

USAID 3 a 22,236,879 34,032,886

LWF Activities income (Counterpart funds) 3 b 22,581,064 7,819,846

Three peaks three weeks 3 c - 48,000

Royal Embassy of Netherlands (Phase III) 3 d 63,305,752 94,898,660

Tax expense 11 593,165 559,497

Total Expenditure 108,716,860 137,358,889

Net (deficit)/surplus (2,438,167) 4,802,010

Note:

The notes on page 9 to 22 form part of these financial statements.

Page 5


• •


STATEMENT OF FINANCIAL POSITION

AS AT 31ST DECEMBER 2015

Restated

Notes 2015 2,014

Kshs. Kshs.

ASSETS

Current Assets

Inventories 5 4,255,216 5,861,402

Receivables 8 1,461,054 8,265,116

Tax recoverable 11 83,412 58,935

Cash in Hand and at bank 12 13,636,330 71,073,583

19,436,012 85,259,036

Non Current Assets

Property, Plant and Equipment 6 16,075,520 14,850,773

Prepaid Operating Rentals 7 9,909,740 10,041,870

25,985,261 24,892,644

TOTAL ASSETS 45,421,272 110,151,679

LIABILITIES AND EQUITY

Current Liabilities

Trade and other payables 9 2,434,776 2,465,594

Deferred income 10 4,296,225 66,557,646

6,731,001 69,023,240

Funds account

Accumulated funds 38,690,271 41,128,439

38,690,271 41,128,439

TOTAL EQUITY & LIABILITIES 45,421,272 110,151,679

(1)

The financial statements on pages 5 to 22 were approved for issue by the board of directors

on _____________________2016 and were signed on their behalf by:

___________________________ ___________________________

Director Director

Page 6


STATEMENT OF MOVEMENT IN FUNDS


Total

Balance at 1 January 2014 36,326,429 36,326,429

Surplus for the year 4,802,010 4,802,010

Balance at 31 December 2014 41,128,439 41,128,439

Balance at 1 January 2015 41,128,439 41,128,439

Deficit for the year (2,438,167) (2,438,167)

Balance at 31 December 2015 38,690,271 38,690,271

Page 7

Funds account


STATEMENT OF CASH FLOWS


Restated

2015 2014

Kshs. Kshs.

CASH FLOWS FROM OPERATING ACTIVITIES

Net (deficit)/surplus (2,438,167) 4,802,010

Adjustments for:-

Depreciation 3,935,028 3,220,886

Armotisation 132,130 132,130

Tax Expense 593,165 559,497

Loss on disposal of equipments 52,428 13,478

Operating surplus before working capital changes 2,274,583 8,728,001

Decrease/(increase) in inventories 1,606,186 (818,358)

Decrease/(increase) in trade and other receivables 6,804,062 (409,927)

Increase/(decrease) in trade and other payables (30,818) 938,892

Increase/(decrease) in deferred income (62,261,421) 7,221,321

Cash (used in)/generated from operations (51,607,409) 15,659,929

Tax paid (321,059) (365,583)

Witholding tax paid (296,583) (252,849)

Net cash (used in)/generated from operating activities (52,225,051) 15,041,497

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of Property, Plant and Equipment (5,212,202) (13,453,617)

Net cash used in investing activities (5,212,202) (13,453,617)

Net increase / (decrease) in cash and cash equivalents (57,437,253) 1,587,880

Cash and cash equivalent at beginning of year (Note 12) 71,073,583 69,485,703

Cash and cash equivalent at end of year (Note 12) 13,636,330 71,073,583

Page 8


NOTES TO THE FINANCIAL STATEMENTS


1 BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a Revenue recognition

Other income is recognised on accrual basis.

b Inventories

c Deferred income

d Impairment of tangible assets

The recoverable amount represents the greater of the net selling price and the value in use.

e Property, plant & equipment

At each balance sheet date, the company reviews the carrying amount of its tangible assets to

determine whether there is any indication that those assets have suffered an impairment loss. If any

such indication exists, the recoverable amount of the asset is estimated in order to determine the

extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying

amount of the asset is reduced to its recoverable amount. An impairment loss is recognised as an

expense immediately, unless the relevant asset is carried at revalued amount, in which case the

impairment loss is treated as a revaluation decrease.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the

revised estimate of its recoverable amount, but only to the extent that the increased carrying amount

does not exceed the carrying amount that would have been determined had no impairment loss been

recognized for the asset in prior years. A reversal of an impairment loss is recognised in income

immediately, unless the relevant asset is carried at a revalued amount, in which case the reversal of

the impairment loss is treated as a revaluation increase.

These financial statements have been prepared on a going concern basis and in compliance with the

International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs)

issued by the International Accounting Standards Board. They are presented in Kenya

Shillings(Kshs). The measurement basis used is the historical cost basis except where otherwise

stated in the accounting policies below.

Income from donors is accounted for on cash basis on receipt. The company is principally funded

from donations and pledges are only recognized as income in the period in which the funds are

received.

Coffee table books, maps and eco guide books are stated at lower of cost and net realizable value.

Donor funds received but not utilised in the year of receipt have been categorised as deferred income

in these accounts. This is in recognition of the fact that donor funds are designated to specific

projects. Any funds not utilised for the intended purpose during the year in which they are received

are carried forward to be used in the subsequent year. A potential liability exists in the event that

funds received cannot be utilized for the specified purpose. Such funds would be returnable to the

donor.

All categories of property, plant and equipment, inlcuding investment property, are measured at

historical cost less accumulated depreciation and accumulated impairment losses.

Subsequent costs are included in the asset's carrying value only when it is probable that future

economic benefits associated with the item will flow to the company and the cost of the item can be

measured reliably. Repairs and maintenance is charged to the profit and loss account in the year to

which it relates.

_______________________________________________________________________________Page 9




1 SIGNIFICANT ACCOUNTING POLICIES (continued)

e Property, plant & equipment (continued)

Pre-fabricated buildings 12.5%

Aircrafts, motor vehicles & cycles 25%

Plant and machinery 12.5%

Computer equipments 30%

Furniture, fittings and office equipments 12.5%

f Translation of foreign currencies

g Financial assets

h Financial liabilities

i Provision

j Cash and Cash equivalents

Provisions are recognised when the company has a present obligation (legal or constructive) as a

result of a past event and it is probable that an outflow of resources embodying economic benefits

will be required to settle the obligations and a reliable estimate can be made of the amount of

obligation.

These comprise cash on hand and at bank, bank overdrafts and short-term, highly liquid

investments that are readily convertible to known amounts of cash and which are subject to and

insignificant risk of changes in value.

Investments in quoted shares are initially recognised at the transaction price and subsequently

measured at fair value, with changes in fair value being recognised in profit or loss. Fair value is

determined using the quoted bid price at the reporting date.

Trade and other receivables are initially recognised at the transaction price. Most sales are made on

the basis of normal credit terms, and the receivables do not bear interest. Where credit is extended

beyond normal credit terms, receivables are measured at amortised cost using the effective interest

method. At the end of each reporting period, the carrying amounts of trade and other receivables are

reviewed to determine whether there is any objective evidence that the amounts are not recoverable.

If so, an impairment loss is recognised immediately in profit or loss.

Debt and equity instruments are classified as either financial liabilities or as equity in accordance

with the substance of the contractual arrangement.

If there is an indication that there has been a significant change in depreciation rate, useful life or

residual value of an asset, the depreciation of that asset is revised prospectively to reflect the new

expectations.

Gains and losses on disposal of property, plant and equipment are determined by reference to their

carrying amount and are taken into account in determining operating surplus.

Transactions in foreign currencies during the year are converted into Kenya Shillings at rates ruling

at the transaction dates. Assets and liabilities at the balance sheet date which expressed in foreign

currencies are translated into Kenya shilling at rates ruling at that date. The resulting differences

from conversion and translation are dealt with in the profit and loss account in the year in which

they arise.

Depreciation is calculated using the reducing balance method to write down the cost of each asset to

its residual value over its estimated useful life using the following annual rates:

_______________________________________________________________________________Page 10




1 SIGNIFICANT ACCOUNTING POLICIES (continued)

k Current Taxation

l Comparatives

m Leasing and Hire purchase commitments

n Receivables

o Retirement Benefits

2 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

Property and equipment

Where necessary, comparative figures have been adjusted to conform with changes in presentation

in the current year.

Assets held under finance leases and hire purchase contracts, which are those where substantially all

the risks and rewards of ownership of the asset have passed to the company, are capitalised in the

balance sheet and depreciated over their useful lives.

Direct donations are not subject to income tax but interest earned on disbursements received before

they have been expended attracts income tax.

In the process of applying the company's accounting policies, management has made estimates and

assumptions that affect the reported amounts of assets and liabilities within current and future

financial years. Estimates and judgements are continually evaluated and are based on historical

experience and other factors, including expectations of future events that are believed to be

reasonable under the circumstances. The critical areas of accounting estimates and judgments in

relation to the preparation of these financial statements are as set out below:

The tax currently payable is based on taxable profit for the year. Taxable profits defer from net profit

as reported in the income statement as it is adjusted in accordance with tax legislation. The

company's liability for current tax is calculated using tax rates that have been enacted by the balance

sheet date.

Comparative figures have been restated to reclassify deferred income that was previously accounted

for through the funds account. This is now being accounted for through the statement of

comprehensive income as a standard practice.

Critical estimates are made by the directors in determining the useful lives and residual values of

property, plant and equipment based on the intended useful lives of the assets. Subsequent changes

in circumstances such as technological advances or prospective utilisation of the assets concerned

could result in the actual useful lives or residual values differing from initial estimates.

Receivables are carried at anticipated realisable value. An estimate is made for doubtful receivables

based on a review of all outstanding amounts at the year end. Bad debts are written off in the year in

which they are identified.

The Company contributes to a statutory defined contribution pension scheme, the National Social

Security Fund (NSSF). Contributions are determined by local statute and shared equally between

employer and employee.

The preparation of financial statements in conformity with international Financial reporting

Standards requires the use of certain accounting estimates. It also requires management to exercise

its judgement in the process of applying company's accounting policies.

_______________________________________________________________________________Page 11




Restated

2015 2014

3 INCOME AND EXPENDITURE Kshs. Kshs.

a USAID

Grants 24,775,005 34,916,089

Total 24,775,005 34,916,089

a Expenditure

Promotional Material - 108,720

Office establishment 16,913 -

Extension services - 89,390

Capacity building training 104,928 -

Capacity building produce 187,620 177,660

Commercial trials 3,248 -

Field days and exchange - 16,750

Team fees - 42,240

Socioeconomic monitoring program 114,400 1,127,543

Travel expenses - 800,814

Bank charges 26,999 26,810

Branding 20,000 -

Audit 1,066,823 1,409,791

Technical team fee - 48,710

Pragram cordinator fee - 203,792

Extension services - 795,248

Strengthening & expanding - 170,411

Communication & informing policing - 761,697

SCMPs support 657,186 2,426,595

Education Excursions 1,160,321 1,196,825

Collaborate - Education Department - 724,655

Resource center establishment 21,020 1,050,000

DVD Screening & Production 88,870 -

Other Expenses 3,910,331 -

Community initiative 263,750 398,500

Capacity Building 2,273,929 2,146,798

Dev Tree Nurseries 41,825 3,002,979

Shelter belts, wind breaks - 711,415

Formtion of CFA 124,859 510,371

Energy Saving Stoves - 876,700

Biogas Units In School - 328,640

Scout Kit 2,764,050 -

Design M & E System 15,600 1,008,000

Page total c/f 12,862,672 20,161,054

_______________________________________________________________________________Page 12




Restated

2015 2014

3 INCOME AND EXPENDITURE (Continued) Kshs. Kshs.

a Expenditure (continued)

Page total b/f 12,862,672 20,161,054

Staff Training - 37,000

Wildlife monitoring 185,000 -

Training Farmers 343,250 1,206,750

Human wildlife conflict 667,752 4,339,848

Review - Aricle of ass 232,000 -

Branded T-Shirts 574,200 392,500

Aware Common Intake 93,600 158,700

Riverflow Consult - 806,400

Pipeline Survey and B 6,750 544,978

River Level Gauges 1,750,000 89,199

Common water intake 2,162,255 1,559,268

Construction of Water Intake 1,685,801

Feasibility Studies - 94,704

Survey the pipelines 24,000 104,160

Construction Common Intake 195,750 196,250

Community engagement - 248,300

Pollution Survey - 145,500

Support to WRUAs 755,764 2,207,525

Support IGAS - 526,250

Water Storage - 1,214,500

Stakeholders Forums 47,540 -

Compilation & Dissemination 164,270 -

Communication & Branding 486,275 -

Total expenses 22,236,879 34,032,886

Surplus/(deficit) for the year 2,538,126 883,203

_______________________________________________________________________________Page 13




2015 2014

b LWF ACTIVITIES (COUNTERPART FUNDS) Kshs. Kshs.

LWF Activities income (Counterpart funds)

c Membership Subs 2,892,127 764,700

d Donations 2,833,680 88,923

e Miscellaneous Income 1,054,150 1,124,567

f CLO Salary contribution 69,000 253,000

Contribution T-Shirts 38,750 6,600

Environ Education Prog 55,530 63,000

Contribution from Maps 204,150 255,660

Contribution from Caps 10,400 2,000

Contribution from Stickers 750 1,950

Bk tribute G. Thornton 73,500 65,000

Tyre Covers 9,150 34,900

Coffee Table Book 245,500 282,750

Contribution towards D 250 1,250

Laikipia Economic Study 210,000 -

Contribution - Vehicle Use 6,150,017 -

Income - Desert Edge 927,360 -

A.K Memorial Funds 2,880,000 -

Office expenses - 427,749

Total income from LWF Activities 17,654,314 3,372,049

b Expenditure

Executive Director Salary 6,138,951 -

Doubtful debts (509,486) 505,145

Office expenses 684,333 -

CLO Salaries - 46,000

Contribution to Maps 292,680 -

Contribution to Eco Guide 40,068 -

Coffee Table Books Costs 1,156,114 -

Caps and Pens 71,070 -

T-Shirts 46,254 -

Loss on disposal 52,428 13,478

Staff costs 55,255 16,660

Vehicle running expenses 2,753,192 104,250

Postage & delivery 2,610 -

Legal fees 305,300 912,585

Miscellaneous expense 580,125 1,219,684

International travel 95,987 -

Page total c/f 11,764,881 2,817,802

_______________________________________________________________________________Page 14




b LWF ACTIVITIES (COUNTERPART FUNDS) 2015 2014

Expenditure ( Continued) Kshs. Kshs.

Page total b/f 11,764,881 2,817,802

LWF Consultancies 1,542,740 -

Travel allowance 2,900 -

Bad debts 728,835 307,690


Contigency 2,287,978 1,191,837

Laikipia Economic Study 4,498 79,800

Anthony King Trust 2,186,660 -

Desert Edge Expenses 81,000 -

General Expenses (170,419) -

Bank charges Dollar 22,851 15,366 Depreciation 3,935,028 3,220,886 Armotistion 132,130 132,130

Total expenses 22,581,064 7,819,846

Deficit for the year (4,926,750) (4,447,797)

2015 2014

c THREE PEAKS THREE WEEKS Kshs. Kshs.

Income

Three peaks three weeks - -

Total income - -

Expenditure

Anthony's memorial - 48,000

Total expenses - 48,000

(Deficit)/surplus for the year - (48,000)

Restated

2015 2014

d ROYAL EMBASSY OF NETHERLANDS (Phase III) Kshs. Kshs.

Income

Royal Embassy of Netherlands (Phase III) 61,834,527 101,898,831

Total income 61,834,527 101,898,831

_______________________________________________________________________________Page 15




Restated

d ROYAL EMBASSY OF NETHERLANDS (Phase III) (Continued) 2015 2014

Kshs. Kshs.

Expenditure

Field days 3,000 236,250

World days - 191,250

Info Dessimination 58,000 407,106

Annual Best Practice - 232,720

Dessim. annual report - 406,620

Use Lkp county times - 11,920

Development communication materials 190,370 821,815

Support communication team 54,600 15,000

Produce LWF documentation 23,075 1,005,969

Develop booklets - 44,030

LWF promotional material 22,500 -

Comm salary 181,254 505,640

Personnel costs 6,238,661 8,625,616

Office costs 681,703 2,310,470

Extension transport 428,538 1,008,692

Training of producers 181,073 1,054,008

Trial sites 1,000 348,641

Promotion & marketing - 84,040

Field days & exchange - 19,730

Travel & perdiem 148,200 140,232

Consultancy 142,425 210,180

Monitoring & Evaluation 1,000 65,000

Stationery 10,650 7,722

Telephone 17,000 18,537

Postage 11,105 12,877

Motor bike 287,000 264,387

Travel 112,750 80,180

CLO Salary 4,588,272 3,376,694

Capacity building EEPL 191,143 14,000

Developing delivery strategy - 74,500

Developing teaching material 70,200 77,500

Training workshops - 254,900

Training comm. Leaders 721,674 509,596

Cascade train material 64,000 451,808

Awarenes campaigns 329,296 468,290

Open day events 29,780 479,595

Evn world days - 293,470

EELPO Costs 1,252,073 1,127,711

Page total c/f 16,040,342 25,256,696

_______________________________________________________________________________Page 16




Restated

d 2015 2014

Kshs. Kshs.

Expenditure ( Continued)

Page total b/f 16,040,342 25,256,696

EEO Driver 768,273 758,394

PFMP S. Lkp Forest Blo 214,388 1,813,453

Organise local forums - 307,181

Exposure tours 90,000 1,243,500

Capacity building NRM - 762,350

Organise comm. forums - 199,000

World conservation events 332,600 33,868

Support tree nurseries 85,730 -

Formation of 3 FUG 93,000 369,663

Forest salary 1,001,922 1,496,293

Establish of Demo sit - 768,000

Field days 167,700 8,000

WLF Construction 137,250 4,126,782

Community meetings 405,100 455,685

Open day 267,950 135,262

Comm awareness meeting 442,559 295,422

Exposure visit 145,158 705,000

Fence management workshop 234,902 1,877,560

Dialogue mechanism 597,750 100,557

Rapid response meeting 20,000 -

WLO Salary 1,702,401 1,142,016

Stationery 230,495 349,447

Postage 41,035 59,890

Telefax 631,902 168,601

Internet 32,552 816,432

Audit 348,000 369,895

Vehicle 4,900,639 3,995,363

Printing Newsletter 3,300 455,996

Website 292,320 191,436

Travel allowance 481,263 59,350

Maintenance of office 387,310 180,444

Computer software 51,850 15,600

Cleaners wages 186,361 74,521

Rent 1,111,213 399,583

Insurance 164,126 75,232

Electricity 138,069 7,654


Page total c/f 31,895,773 49,143,833

ROYAL EMBASSY OF NETHERLANDS (Phase III)

(Continued)

_______________________________________________________________________________Page 17




Restated

d 2015 2014

Kshs. Kshs.


Page total b/f 31,895,773 49,143,833

Staff costs 101,342 486,820

Subscriptions 10,000 30,000

Office expenses 852,205 103,573

Staff training 252,300 421,950

AGM related costs 1,383,231 668,640

Event costs 30,300 93,800

Intern expenses - 103,778

Field visit report - 285,800

Qrt & Annual review - 19,000

Annual Progrese Report - 5,000

Doc of lessons learnt 55,680 -

Dev tools 8,900 143,150

Conduct FGDs 42,090 29,000

Policy framework 200,500 76,750

Env't process baseli - 15,000

Dev monitoring tools 218,800 1,102,000

M & E Costs 3,379,887 3,215,698

Improve Governance 29,225 3,152,731

Best Practice 22,600 1,077,669

District Rangeland 44,000 813,608

Spread Eco-Literacy 543,825 343,540

Prom practical techni 77,555 3,481,247

Knowledge management 211,891 804,626

Exchange Visits 89,420 -

Office/admin 754,372 -

Rangerlands Rehanb Management - 335,828

CCPM Costs 4,650,668 4,775,539

AFO'S Costs 2,177,272 2,238,784

ASS AFO Costs - 517,893

ED'S Costs 7,000,921 3,941,136

Awareness Creation 228,700 47,095

Advertise LKP 60,000 -

World Trade Market 5,500 12,000

Magical Kenya Travel 25,000 98,000

Tourism conferences 104,352 558,929

Exposure tour - 555,000

Dev Campsites - 102,000

Page total c/f 54,456,309 78,799,417


(Continued)

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Restated

d 2015 2014

Kshs. Kshs.


Page total b/f 54,456,309 78,799,417

Support Deal - Oreteti - 99,000

Conduct Survey 69,725 -

Places to Stay Guide 10,000 803,820

Joint Event Promotion - 122,000

Presentation to KTB 5,000 -

Tourism salary 2,324,931 830,074

World Water Day - 136,500

Exposure Visits - 116,000

Field days 2,400 1,123,520

Demo sites - 33,962

LWF - WARMA Agreement - 125,000

CFA/WRUA Platform - 240,699

Supp Ewaso Water Forum - 60,500

5 SCMPS 207,500 865,000

Training on RWUA 48,000 4,000

Abstract Survey 16,000 -

Common water intake 4,303,987 4,222,123

Pollution control 3,000 1,927,080

Riparian pegging - 346,710

WRUA Capacity building 73,000 1,007,700

Water salary 1,028,908 1,071,565

Sub-Surface 18,436 1,003,300

River gauging station - 1,032,700

Security & peace 738,556 927,990

Total expenses 63,305,752 94,898,660

Surplus /(deficit) for the year (1,471,225) 7,000,171

2015 2014

4 OTHER INCOME Kshs. Kshs.

Interest earned 1,977,217 1,864,991

Realised exchange gain 37,630 108,939

2,014,847 1,973,930


(Continued)

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2015 2014

5 INVENTORIES Kshs. Kshs.

Books 3,691,294 4,847,408

a Maps 522,000 814,680

Natural History Guide 37,422 77,490

T-Shirts & caps 4,500 121,824

4,255,216 5,861,402

6 PROPERTY, PLANT AND EQUIPMENTS (refer )

7 PREPAID OPERATING RENTALS

un-expired period of the lease.

2015 2014

Kshs. Kshs.

Cost

At 1 January 2015 10,174,000 -

Additions for the year - 10,174,000

At 31 December 2015 10,174,000 10,174,000

Amortisation

At 1 January 2015 132,130 -

Amortisation for the year 132,130 132,130

At 31 December 2015 264,260 132,130

Carrying amount 9,909,740 10,041,870

2015 2014

8 TRADE AND OTHER RECEIVABLES Kshs. Kshs.

Trade receivables 132,850 7,535,087

Prepayments 641,589 559,606

Other receivables 686,615 170,423

1,461,054 8,265,116

2015 2014

9 TRADE AND OTHER PAYABLES Kshs. Kshs.

Likii Women Group 2,000,000 2,000,000

Accruals 434,776 465,594

2,434,776 2,465,594

Leasehold land is amortised over the lease period. The balance below represents the

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2015 2014

10 DEFERRED INCOME Kshs. Kshs.

USAID 4,296,225 4,723,119

Royal Netherlands Embassy - 61,834,527

4,296,225 66,557,646

2015 2014

11 TAXATION Kshs Kshs.

a Statement of comprehensive income

Current tax 593,165 559,497

Tax charge 593,165 559,497

b Statement of financial position

Balance at 1 January 2015 (58,935) -

Corporation tax for the year 593,165 559,497

Tax Paid (321,059) (365,583)

Withholding Tax paid (296,583) (252,849)

Balance at 31 December 2015 (83,412) (58,935)

12 CASH AND CASH EQUIVALENTSAt 1 January

2015 Cash Flows At 31 December

2015

Kshs. Kshs. Kshs.

Cash in hand (24,027) 50,894 26,867

Cash at bank 71,097,610 (64,488,147) 6,609,463

71,073,583 (64,437,253) 6,636,330

Fixed deposits - 7,000,000 7,000,000

71,073,583 (57,437,253) 13,636,330

2015 2014

13 DIRECTORS REMUNERATION Kshs Kshs.

Directors remuneration - as executives 9,488,727 6,525,733

- non monetary benefits 2,697,113 1,314,440

12,185,840 7,840,173

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6 PROPERTY, PLANT AND EQUIPMENT

Buildings

Computers,

furniture,

fixtures &

fittings

Motor

Vehicle

Plant &

machinery Total

COST

At 1 January 2015 6,111,871 6,161,074 25,334,124 521,100 38,128,169

Additions 2,366,386 967,730 1,840,402 37,684 5,212,202

Disposals - (449,429) - - (449,429)

At 31 December 2015 8,478,257 6,679,375 27,174,526 558,784 42,890,942

Accumulated Depreciation and Impairment

At 1 January 2015 2,257,591 3,806,287 16,793,755 419,763 23,277,396

Charge for the Year 751,008 811,843 2,354,799 17,378 3,935,028

Disposal - (397,002) - - (397,002)

At 31 December 2015 3,008,599 4,221,128 19,148,554 437,141 26,815,422

CARRYING AMOUNT

At 31 December 2015 5,469,658 2,458,247 8,025,972 121,643 16,075,520

Page 22


TAX COMPUTATION - 2015

PIN NO: P000641239X

INTEREST INCOME

Interest earned 1,977,217

1,977,217

Total tax liability @ 30% 593,165 -

Instalment tax paid (365,583)

Withholding tax paid (252,849)

Balance (25,267)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR …€¦ · Mr. John Kimani Kuria Mr. Mike...

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