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We are pleased to report another successful year of conservation delivery, continuing to operate in over 40 countries, underpinned by continued growth in income, increasing by 5% in 2012, to £18.3m ($29.6m). This growth has been achieved via increased unrestricted income, with a significant individual legacy having some bearing on the results, whilst also broadly maintaining our restricted income generation.
This income, along with reserves brought forward, has enabled us to invest significantly in our programmes, spending £15.7m ($25.4m) on our charitable activities, an increase of £884k ($1,429k) over 2011, and representing over 90% of our total expenditure. The costs of generating funds does exhibit a significant increase over 2011, but a large proportion of this increase relates to direct costs and legal fees incurred in realising the legacy referred to above.
These activities have helped to grow unrestricted reserves to £2.2m ($3.6m), helping to provide us with a much more stable platform to underpin our strategic plan. We will need to continue to develop a strong unrestricted income stream, given the relative lack of certainty of these funds and the limited availability of unrestricted funds in relation to our restricted funds portfolio, which limits our flexibility of project funding and ability to make infrastructure investments.
Restricted reserves, representing funds received for programmes that are due to be spent, have been utilised to an extent in the year, with closing reserves representing around four months of forward expenditure.
These consolidated accounts incorporate the results of the UK operation, its associated permanent endowment funds and the results of FFI Australia and FFI Singapore.. These figures also incorporate the restricted revenue contributed to our global programme by FFI United States, whose full audited accounts can be found by following the link to the US website at the top of the page. We will continue to coordinate our activities and work collaboratively across FFI in order to achieve lasting conservation success.
Download our full Report and Consolidated Financial Statements for 2012 (PDF)
Download our full Report and Consolidated Financial Statements for 2011 (PDF)
Download our full Report and Financial Statements for 2010 (PDF)
Download our full Report and Financial Statements for 2009 (PDF)
Download our full Report and Financial Statements for 2008 (PDF)
Download our full Report and Financial Statements for 2007 (PDF)
Account details for FFI US can be found on the FFI US Accounts page.