Oocusign Envelope ID.. BB634A6E-1A214428-8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA> FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 R¢gistered CompAny number: 03135903 Registercd Charity number. 1056453 •ADHSRCEA* 1211212024 COMPANIES HOUSE A09 #217 Oocusign Envelope ID.. 8B634A6E-1A21442B-8C78-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA) FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR EN'DED 31 JULY 2024 CONTENTS Page Reference and administrative details Trustees, Report 2-13 AudilOT'S Report 14- 16 Group and Charity Statcmtni of Financial Aclivilies 17 Group and Charity Balance Sh¢¢t 18 Staieffleni ofcash Flows 19 Notes to the financial staiements 20-30 tlocusign Ertvelope ID.. 88634A8E-1A214428-8C78-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS {PeTAI FOUNDATION REFERENCE AND ADMINISTIL4TIVE DETAILS FOR THE YEAR ENDED 31 JULY 2024 People for th¢ Eihical Tr¢atm¢nt of Animals (PeTA) Found¥4tion is a Re8isl¢r¢d Charity, numb¢r 1056453 and Registered Company. number 03135903. DIRECTORS The Directors of the Company who are a]so Chariiy Trustees who served during the year were.. L Lovi¢h l Newkirk L Chappell COMPANY SECRETARY Ingrid Newkirk REGISTERED OFFICE 78 Cannon Street London EC4N 6AF AUDITOR Haysmac LLP 10 Q￿en Sireei Place London EC4R IAG SOLICITORS Stone King Seivell 3 Queen Square Baih BAI 2HJ BANKERS Co Operalive Bank Hekd 0￿1CC PO Box 101 l Balloon St Man¢h¢sl¢r M60 4EP Docusign Envelope ID." BB634A6E-1A214428-8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENTOF ANIMALS {PeTA) FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2024 The Trustees of ihe Charity, being the Company's Direciors, pre5eni iheir report and finon¢ial staiemenls for the year ended 31 JLtly 2024. These financial statemenis are a consolidation of the Chartty ¥vith its wholly owned subsidiary PeTA Europe Limited. The financial statements have been prepared in accordan¢e ivith Siatement of Recommended Pra¢ii¢e 'A¢wuntin8 and Reporting by Charities" SORP 2015 (Second Edition, ¢ff¢¢liv¢ l January 2019) (FRS 102). in pr¢pAring the annual Teport and financial Slal¢men15 of the Charity. STRUCTURE, GOVERNANCE AND MANAGEMENT PETA is a company limited by guarantee and is a regi5teT¢d ¢harity. It has no share capital. and the liability of the members is limited to£1. PETA ivas incorporaied on 8 December 1995. The main aim of ihe ChArity is io research the trealm¢ni of animals throu8houi society and io educate the public ai*)ui sieps to reduce cruelty io animals. Or8Ani$41iong1 S¢ru¢ture The Trustees of PETA ivere.. L Lovich l Newkirk L Chappell Trustees w¢r¢ originAlly &sked io serve by ihe founder. They are experienced in animal rights issues and animBI protection Inaiiers and often have their own business ¢xperienc¢. They receive legal advi¢¢ from ¢xperien¢¢d solicilors, Ivhen necessary. os, for inslan¢¢, wh¢n ih¢re is a new r¢8ulalion or laiv Ihal mi8hi offeci ihe or8anizaiion. Risk slatcment The m8jor risks to ivhich tht Charity is exposed, as identified by the Trustees. have been revieived ond syslems have been ¢siablished io mitigaie Ih05e risks. The Trustees. aware that thi5 is an ongoing process, updated their T15k assessment in the year and are sali5fi¢d Ihal. wher¢ appropriate, ¢ffe¢liv¢ ¢onlrols are in place lo miligate against key ri5k5. Public Benefit The Trusiees confirm Ihai ihey have complied with the duty in Section 17 of the Charities Act 2011 to have due regard wilh ihe Charity Commission's 8¢iieral guidan¢¢ on public b¢nefii 'Charities ELnd Public Benefit" After careful consideration. they have concluded that.. The aims of PETA continue to be exclusively Charitable. The aims, and the ivork don¢ in pursuance of them. 8ive clearly identifiable benefit5 to the public includingi both indirectly and directly, to individuals in need. The berbefits are for the public at large, and are not unreasonably restricted in llny way (And certainly noi by ability to pay); and There is no signifi¢aT)t detriment or harm arising from the aims or a¢tiviti¢s. PeTA Europe Limited PeTA Europe Limiied (PEL) is a wholly owned non-¢harilable subsidiary of the Charity. The r¢5ults of PEL (which was domiant throughout the financial period) are in the financial sthi¢ment5 of the Charity set out on page5 14 - 25. During ihe year the aims of PEL ¢onlinued io be thai of preventing or relieving suffering of animals. in particular ihrough se¢king participation in campaigns to end or curtail animal suffering, and educating the public concerning animal abuse. protection nd related subjeets. Oocusign Envelope ID.. BB634A6E-1A214428_8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENTOF ANIMALS (PeTAI FOUNDATIOIY TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2024 STRUCTURE, GoVE1￿ANcE AND MANAGEMENT leontinued) On 30 Septemkr 2009, People for the Ethical Treatment of Anim81s (PeTA) Foundation commenced the transfer of all the activities and a55ets of PeTA EuroF¢ Ltd., following discussions wilh ihe Charity Commission to ensure that all of PEL'S activitie5 could validly carTi¢d on by PETA, MISSION We believe ihat animals have an inrrinsic ivorth of their own, quitc apart from their ulility io humans, and should not reduced io human Commodities. Therefore. PETA'S motto is "Animals are not OUTS to experiment on. eat, wear, use for en¢¢rtainm¢ni, or abuse in any other way." PETA Works through public educaiion, research, legislaiion, special ev¢nis, celebriry involvement 8nd pr0*5t Campaigns. STIi4TEGY Public awareness is PETA'S most effective %veapon against animal mislreatment. The video footage and other findings from our exposes of facilities in ivhich animals are neglected and abused draw millions of Web viewers each year. Our media ¢8mpaigns and espccially our use of celebrity spokespeople-put animal issues in ihe headlines of major mediaouileis every single day. Our gr&55roots outreach. with demonstratots and leafleteers on the Sireels all over Ihe UK, is consianily reaching new consumers. With this approach, Ive're gelling animal tC5t5 replaced ivith sophisiicaied non.animal iesl.m¢ihods. We'r¢ p¢r5uading dcsigners and reiailers to slop selling fur and skins. W¢'r¢ turning ￿0P]e aivay from live.animal shoivs and ekhibils. We're cngagin8 youn8 Ftople and revoluiionizing the way future generations Ivill regard animals. And we're inspiring couniless people ro go vegan, to buy only crueliy-free products. and io make animal-friendly choice5 in all •specis of life. PETA is using Ihis meihod in our ivork lo achieve a ivorld in which animals are respected and people are aware of and concerned about the ways in which their daily decisions affect the lives of orher sentient trKing5. OBJECTIVES AND ACTIVITIES i) to prevenl or relieve sufferin8 of aniinals and io promo1¢ th¢ pr¢v¢ntion and relief of sufferin8 by animals, in relarion to areas including bul not limil¢d to lh¢ yse of animals for th¢ purp05e5 Qf Commerce (including wiihout limitaiion food and clothing), entertainment or experimenlation.. and 2) to advance the education of ihe public concerning th¢ care and treaiment of animals. 3) lo conduct or promot¢ the conduct of rescarch into.. a) subjects connected with the use and ireatmeni of animals for the PUTP)ses of comm¢r¢¢. ¢nl¢rtainmcnl or exp¢rimentalion' b) th¢ care and treatment of animals; c) animal behaviour. and d) the Production, utilisaiion* preparaiionj preservation and dieieiic effects of vegetarian subsiances for human consumption. Oocusign Envetope ID.. BB634A6E-1A2144284C78-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PtTA) FOUNDATIOIN TRUSTEES, REPORT IcDntinucd) FOR THE YEAR ENDED 31 JULI, 2024 ACHIEVEMENTS AND PERFORMANCE {1 AUCUST 202￿3] JULY 2024) The sections which follow d¢mon5trat¢ ih¢ manner in which PETA mel lis charitable purposes in 2023-2024 and list ih¢ organisation's principal Achieyemenls within the scope of each of ils Stated objectives which benefit the public. Preventing or Relieving the Sufccring of Animals Ending animal experimentation is among PETA'S highest priorities. PETA is an aciive member of PETA Science Consortium Intefnaiional e.V. (Ihe S¢i¢n¢e Consortium), iyhich applies ils m¢mbers' ￿l¢￿tif1¢ and regulatory elpertlse to the promotion of reliable, relevant strategies for reducing and uliimalely ending the use of animals in experimenls. Its website. ThePSCI.¢u, continues To gTOW and is a valuable resource for those involved in regulatory testing. PETA scientisls and p)licy eNperls Conlinue io eng8ge with ih¢ European Chemicals Agency (ECHA)- the admini5tTalive tM)dy ihat oversees ihe EuroFxan Union's Regisiration, Evaluation. Authorisation and Re5tTiCtion of Chcmicals {IiEACH) rtgulaiion- lo promoie the redu¢iion and rep18¢ement of animal tesis. In 2024. after year5 ofcampaigning, the Home Office stopped granling licences for use of the forced swim test- a fla¥ved near.drowning cxpeTimenl that causes panic in animals- as a fftodel for human depr¢ssion or for srudi¢s of aniiety and its treaimenl in ih¢ UK. As pari of our campaign io ¢nd the lest, over 400 5cienlisls, academic5. and medical and veterinary proP¢55ionals from around the ¥VOTld including prominent bioethicist Peter Singer sent an open leiier lo ihe then parliamenrary und¢r secretary of 51aie for the Home orrice urging him to prohibit the use of the ividely dis¢redifed and abysmally Cfuel test in the UK, followin8 which he slated ihe Home Office's inl¢niion lo ¢lhminate oll use of ihe forced s%vim lest irt (he N¢&T fuiure. Followin8 outreach ffom PETA, Ihr¢e independent medical re$eBrch Funding bodie$- BMA Foundation, Medical Research Scotlllnd, and The Dunhill Medical TT115t- committed to not funding Miiy future ¢Aperimenls iha( usc ih¢ forced $iYim test. paving the Ivay tor animal-free science. Thanks in lar8e part io PETA'S effons, animal testin8 for all ingredient5 Used e.xclusively in c05rneiics producis has ended in the UK. FunhermoTe, the Labour Party has pledged 10 phase out iesiing on animals and'panner wilh s¢ienlis15, industry. and civil society, to reach this goal. In response lo a paTliameniary question tabled on behalf of PETA. Ihe Department of Healih and Social Care a￿irMed ihal 8nimal testing is not a legal Tequirement in the UK - busting the rnyth that all neiv drugs and medical products musi be rested on animals tefore reaching human clinical trials. The Netheflands is leading ihe ivay toivards animal-free medical innovation wilh a groundbreaking e124.5 million investmenl in the Centr¢ ftir Animal.Fr¢¢ Biomediclll Translalion. This revolulionary research hub ivill pioneer the developmeni of effective ITealments for diseases like asthma and Cysiic fibrosis wiihoui animal testing. By CollA￿ratIng Ivith global experts- including PFTA'S science advisor for the Netherlands- the ¢¢nir¢ will sho¥v¢ase how drugs can be safely developed wiihout harming 8nimAls and offer education and trnining to integrate animal-free m¢thods into biomedical research. rollowing pressure from PETA enlities and n¢arly 115,000 supporter5 ivorldwide, AELF FlightServic¢'s Maleth A¢ro stopped transportin8 monkeys lo laboralories. The airline had subjected sen51tive monkeys to horrific journeys. only lo hand them over to cNperimcniers. This major win follows two years of intense campaigning, proiesis, public letters, and complaints filed by PETA entilies. In response to the European citizens, iniiialive 'Save Cruelty Free Cosmetics Commit to a Europe Withoui Animal Testing" vhich PETA Covlaunched and partly funded, the European Commission cofflmitt¢d to dev¢loping a roadmap lo end all animal testing for Tegulatory safety a55e55menls. PETA policy ehperts and PETA s¢i¢nlisls have provided vilal input regarding the development of the roadmap by speaking at conferenc¢s. or8anisin8 a workshop. and participating in expert working groups. Do¢usign Envebpe ID.. BB634A6E-IA21442B-8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA) FOUNDATION TRUSTEES, REPORT (continued) FOR THE YEAR ENDED JI JULY 2024 ACHIEVEMENTS AND PERFORMANCE (continued) After years of PETA aclions at London Fashion Week, the British Fashion Council officially banned fur from its runways. Our successful campaign included sh*in8 information with Ihe council and messages from 65,000 PETA supporters urging it to shed fur. After meeling with PETA, organisers of Copenhagen Fashion Week banned wild-anim&l skins and the feaihers of wild bird5, such as those lorn from oslriches or peacocks, from ils runway as of n¢xt year- a mov¢ which is Sure to inspire other fashion events io follow suil. Srella Mccartney, one of the ivorld's leading luxury fashion icons, partnered with PETA to urge all de5igncrs to join our fe&ther-fr¢e pledge. Many have already h¢¢ded this call, including Felder Felder. Eirinn Hayhow. Richard Malone, Patrick McDowell. VtN + OMI, Ptferi. Sarah Rcg¢nsburger, and Joshua Jame5 Small. We're Tejoicing on behalf of foxes, 8O&ts, ostriches, and other animals 05 ¢loihing gianis worldwidc lake action to eliminate products of cruelty from their collections following appcals from PETA enlilies. Mara Fashion Grolhp has bid farewell to fur- a rnajor viclory ih81 follows year5 of campaigning by PETA entili¢s and animal advocaies worldwide. After Ne.¥t rtneged on its mohair ban, we shared information aboiil the failings of ihe RestN)nsible Mohair Standard, and a repr¢s¢nlaliv¢ from the bl￿d confirmed ihal il is "now commilted io not using mohair in any of Next's produci ran8¢S" French f&shion labellsabel Maranl has banned fur, an8or4 and wild-animal skins across its colleciions following talks ¥viih PETA and PETA France. After year5 of releniless ¢ampaigninB by PETA, other animal protection groups, dedicaied activists, and policymaker$, Britain has finally banned ihe live expori of animals. This hi51oric move will 5par¢ many thousands of sentient beings a Bruelling and poicnlially deadly journey by ship and lorry and a torturous death ai a for¢i8n ab8tt0ir. Following PETA'S shocking video exposé of frogs in Indonesia being buichered alive so their legs could ￿ sold in 5upermark¢ls, global giant Carrcfour committed to no longer 50UTcing frogs, le8s from Indon¢5ia. And after leaTnin8 from PETA about forced Inonkey labour in ThailAnd's coconut industiy. co.op agreed noi io sour¢¢ ¢oconut milk froin lh¢ country for It5 own-brand ¢ann¢d Coconut fflilk. Following nearly livo years of tireless campaiEning that included demonstrations at annual meetings and across ihe country, lelters from Ihe public, and support fmm celebrities such as Morrissey. Faye Winier, Olivia Boiyen, and Belle Hassan, PETA persuaded leadinB travel provider Jei2holiday5 to slop selling iicktis io marine parks that confine highly intellig¢nl or¢as and other dolphins and ivhales in the name of entertainmenl. We work¢d with travel provider ¢asyJ¢l holidays on its new wlicy not to PTomoie or sell iickeis io marine parks, zoos, or aquariums or for aniin&l Tides, performances, or any other activity or facility that us¢s animals for entertainment or transport. TravelLocal, G Adveniures. and Exodu5 Adventure Travels confirmed they have ended all camel ride promoiions and tours in Egypi. PETA won a bid for three pigeons who had been kepi in the king'51oft at SandTingham and were being auctioned off as part OF ihe British Homing World Show of Ihe Year io ensure they were spared further suff¢ring in the racing industry. They are noiv receiving ih¢ royal treatment in Ih¢ir r¢tir¢ment. We also appealed io King Charles to cut ties ivith the blood sport, and he has ended his patronage of the Royal Pigeon Racing Association and the National Flying Club. After h¢8ring from PETA, publisher and greeting card manufaciurer UK Greeiings confirmed it has stopped producing items feafvring degrading images of chimpanzee5. Ivhich are knoivn io hinder ¢on5ervation efforts. Following 8 massiv¢ campaign in ivhich thousands of PETA supporter5 joined masse5 of other aclivi51s worldlvide in taking action, Anh¢us¢r-Busch InBev- the parent company of iconic American beer brand Budweiser- agreed lo'stop amputatin8 Clydesdal¢ horses, iailbones. Docusign Envelope 10.. 88634A6E-1A21442B-8C78-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA) FOUNDATION TRUSTEES, REPORT (cont¢nued) FOR THE YEAR ENDED 31 JULY 2024 ACHIEVEMENTS AND PERFORMANCE Icontinued) Advaneing Publie Education Conferning the C¥4re and TreAtmcnt of Animals Our annual Fashion Aivkrds celebrate luxury labels and for¥Yard-thinking brands that are leaving animals out of their collections. The coverage helps us infomi shoppers that animal-friendly styles are mainstream and accessible for Mny budgtt, Winners of l&sl year's awards include Balenciaga's fully vegan coal made of the plant-based leatheT LUNAFORM and GANNI for its Work with the plant leatheT manufacturer Ohoskin and collaboraiion wilh Polybion to create a jackei made from bacterial cellulose m¢mbTane. OUT 7th annual Vegan Hom¢w8re Awards re¢o8nis¢d ih¢ desi8n¢rs and brands r¢sponding lo the 5kyrockeling demand for susiainabl¢, compa55ionai¢ d¢¢or. The awards and its subsequent media coverage informed consumers how io make animal-fiiendly interior-design ¢hoi¢¢s. Highlights included luxurious 5ilk-free sheets, a range of decAdeni vegan candles. &nd a chair in pineapple leather. Our 2024 Travel Awards celebrated the travel providers, hotels, attra¢lions, and oihcr indu51ry leader5 thal are meeting ihe demand for vcgan #nd anim#l-friendly travel. One winner, Newmarket HolidzLyS, advises their Customers noi io lake ¢ruel animal rides when on holiday ai Ihe ancient siles of PetfZL, Jordan. or the pyram ids of Giza, Egypt, After h¢arin8 from PETA that camels. horses. and other equines are pushed to breaking point when used as iourisi taxis. As the market for vegan food and drink grows siron8er ihan ever- one.Ihird of Briis are inierested in eating vegan - we Tecognised some of the mosi ¢x¢iiing new vegan offerings in our I I th annual Ve8an Food AwaTds. Winning produ¢ts included vegan smoked salmon. a pislachio croissant, and chocolate bao buns. In response to our pa5sionale pleas, Queen Carnilla confirmcd that she %vill no( pro¢ur¢ new fur garments for her wardrobe. This is thought lo be ihe first lime (he queen has taken an official stance against the fur indu51ry* following irb the foolsieps of the late Qu¢¢n Elizab¢ih I I, Ivho announ¢¢d in 2019 that she'd stopped buying fur. PETA entilies conducted the flTSt-ever worldivide survey of vegan car inieriors. The results show Ihal a significant number of manufacwrers - from BMW io MeTced¢s-Benz and Volvo- ar¢ offering interiors that are free from wool and leather, and we shared this inforfflaiion wilh the public. Two PETA supporters made headline5 when they disrupted a star.studded Olympi¢s kick-off party in Paris io ¢onfmnt Pharrell Williams, Louis Vuitton's men's creative director, over the disgraceful use of wild-animal skins and fur in his collections. The animal delenders h¢ld signs reading, 'Pharrell.. Stop Killing Animals for Fashion,, in front of a packed ro%vd as p8rt PETA'S campaign urging LVMH- Loui5 Vuillon's parent company and major sponsor of the 2024 Olympi¢ Games- io ban fur and ivild.animal skins. We Bot the fashion world talking when PETA &¢iivis¢s look over Viciorio 8¢ckham's catwalk during Paris F&shion Week holding sign5 and wearing shirts reading, 'Viva Vegan Leaiher!17 IÉAnimals Ar¢n't Fabric,, and 'Turn Your Back on Animal Skins., We also stormed runways at Hermès, Burberry, Prad4 and Fendi shows to call on the fashion houses ¢0 drop anim&l.derived fabrics. As fvr h&$ been all bui banished from runivays, we have turned our attention to leaiher. At the Fashion Awards in London. hosied by Ihe British F￿hlOn Council, a PETA suptM)rter crashed the red carpet, removed her co81 to reveal l)ody-painlcd skin res¢mbling "nesh" 'iendons" and 'muscle" io symLx)lis¢ ihe horrors of the leather industry, and brandished a sign reading, 'Leather Kills.. The story was ¢ov¢r¢d in The Times, and a video of ihe Stunt %v&s featured on MailOnlin¢. The 5arne Yideo proved extr¢mely popular on Insrmgram, surpassin8 an impr¢s5iv¢ 250.000 view5. We continued io deliver our "Changing the World Wilh Your Wardro￿, preseniation )bout the detrimenlal impacts of vsing cruelly obtained animal skin and the superior alternalives available lo fashion and design student5 at leading UK univ¢rsitlC5 and coll¢g¢s. including th¢ London Rctail Acad¢my. Oocusign Envelope ID.. 88634A6E-1A21442B-8C78-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS {PeTAI FOUNDATIOIN TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACHIEVEMENTS AND PERFORMANCE {continu¢d) PETA suprM)rters dressed as frogs interrupied ITV'S annual meeting, calling on the broad¢ag1 network to slop allowing animal abuse on I'm a Celebrity . Get Me Out Of Here. The PTOtesters informed board members and shareholders that using frogs. insecls. ostriches, crocodiles, rats, or any oiher animal in tacky siunts is cruelty. not entertainment, and musl ¢nd. We continued our campaign calling on the Catholic Church to cut ties ivith buiifhghting. PETA made international headlincs when supporters wearing T-shirts reading, "Stop Blessing CotYid&s.' peacefully disrupted the General Audience at the Vatican 10 8pp¢al io Pope Francis io condemn bull Ionur¢ in honour of Catholi¢ saints and end the Church's complicity in these violent spectacles. We also ieamed up Ivith Father Terry Martin- a Catholic priest who serves ih¢ Parish of Worthin8 and Lancing- who appeared in a dramalic fvll-page Advert in the leading inlernalional Catholic journal. The Tablet, calling out bullfighting for what it Is.. animal torture. Ahead of ihe f¢slival of San Ferniln, which includes the Runnin8 ofihe Bulls, PETA and Sp8nish animal prole¢tion group ArbimaNarur8li5 creaied a provocative iableau of dozens of aciivists shackled in medieval torture devices in Pllniplona 10 symbolis¢ Ihe loriuTe of th¢ 60 bulls whu are slabb¢d and slaugjhtcfed in froni of jeering croivds during (he evenl in ihe cily. PETA'S poiverful ¢ampaign videos exposing the reality bthind exploiraiive industTits coniinue to captivate and shock audiences worldwide. For c.¥ample, a video of PETA'S pro¢¢sl against the abus¢ of 8oais for cashmere outsid¢ London Fashion Week received an enormous 51 million views on social media. Our Chrisii))as adycrl l¢aturin&) IhL voice ol. Clii¢A-eii Riiii.. Dnwli ofilie NiixRel slar.jmnc l.lorrorks ap￿ared on cineina s¢r¢ens aciDss the country. 'fhc spot. made in collaboraiion iiiiih lop ¢r¢alive a8cncy klou5e 337, ends wilh a Simple app¢g110 kill ihe Iradition. nol the lurk-¢y, by irying vcgan iiieal insico11. Additionally> our virluftl reality experience, Abduclion, which simulul¢s being &bduci¢d by ¢klrolerrestri we Teleased a video ekposé revealing ho¥v black bears are ¢ru¢lly 5hol and dism¢mbered by hunl¢rs for the King's Giiard'5 bearskin caps. The findings were covered by lop media outlet5, including the BBC, and we shared Ihe disturbing footage with the Minisiry of Defence. Among our eye-￿tChIng demonstrations to urge brands io help slop animals from suffering in ihe global skins irade, PETA supporlers dressed 85"angels" and decked oui in faux.feaih¢r wings descended on fashion r¢t8iler FI&M's annual meeting to call on the company lo "be an ELn8el" by banning dolyn und ive held a protest a8ain5t the reiuiler's use of the cruelly obiained material at the retailer's flagship store in Stockholm. PETA'S screaming 'alpaca" grecied shareholders at Marks & Spencer'5 annual meeting in London to remind attendees ihai alp￿8$ are tied doivn and violently sheared for Eheir fleece just so humans can use it for jumpers and other 8arment5. To mark World Day for Animals in Laboratories on 24 April, we slaged an 8h¢nlion-grabbing demonsiraiion outside the University of Bristol's catnpus 10 highlight the absuidiiy of the forced swim lest. We also interruptcd a reception h051ed by Professor Evelyn Welch. president and vice-chancellor of the univeTsiry. and held a demonstration at one of the institulion's open days, dropping a banner on cwnpus and speaking to thousands of potenlial students and their familie5, to ur8¢ the in51ilution to slop conducting the abysfflzLlly cruel ttsl, ACIOT Anjelica Huston joined our eftrorts by sendin8 a letter io the university calling on it lo end the neoT-drowning of vulnerable animal5. PETA scienlisls regularly present their work at nalional and iniernational conferences. They have demonstraied how poli¢ymakers can use PETA'S Research Modernis8lion Deal to end the use of anima15 in research and testing and hoiv regulatory authorilie5 can iVOTk underexisiing legislalive frameworks lo replace cruel toAi¢ity tests on animals ¥viih su￿rIOr human-relevanl meihods. In partnership with the Dutch Transilion Programme io Animal-Fr¢e Innovations at Utre¢ht UniYersily* PETA h¢lp¢d establish a new global education hub, ¥vhich aims io create an online platform io Siimulate and share animal-free methods of education worldivide and integrate them inio curricula and Courses. OocusKJn Envelope ID: B8634A6E-1A2144284C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA) FOUNDATION TRUSTEES, REPORT (¢on¢inued) FOR THE YEAR ENDED 31 JULY 2024 ACHIEVEMENTS AND PERFORMANCE Icontinutd) If you ivouldn't eat & kitten. why eat a fish? That was the thought-provoking message PETA shared in Newcastle on Nation81 Fish and Chip Day. We also made headline5 around ihe country wh¢n w¢ nam¢d our top picks for the UK'S best vegan fish and chips. We organised many other eye.¢alching events and demonstrations to encourage the public to eat vegan. For exampl¢. ah¢ad ol. Woild Milk r)lly, lil'o giant i)r-I'A 'babics" holdinR siRns proclain)iiig, 'Coivs' Milk Is lor Baby Coivs., descended on Exeiei's high slreei. I'hey highlighicd how unnalural il is to drink" (he milk of onv animal past ive FOR THE YEAR ENDED 31 JULI, 2024 ACHIEVEMENTS AND PERFORMANCE {continued Conducting and Publishirt8 Research PETA placed opinion pieces in The Independenl, euronews, Polilics.co.Nk, the Dully E¥press, the Daily Mirror, Melro, and other media outlets around the ivorld on subjects rnnging from the need io transition to sustainable. arable farming to the cruelty of horse racing. The Science Consortium, of which PETA 1$ a member, has for years worked alon8sid¢ 8ov¢rnm¢nt institutions to reduce animal iesiin8. After the US Environmental Prote¢tion Agency released a document encouraging companies io use non- aniJnal methods instead of live Tabbi15 to test the effecls of industrial chemicals on human eye5. the Science Consorlium atcd a pos¢er with th¢ agency that illustrate5 the fTamcwoTk. %vhi¢h il presented at an international toxicology conf¢rcnce. In 8 paper published in the esteemed journal Reguloiory Toxicology and PhormocolO￿, PETA scicnlists and advocates from around the globe teamed up to provide real-world guidance for stopping the use of the forced swim iesl and ihe tail suspension test. in which animals are hung upside down by iheir sensitive tails. Another paper published in Regulalory Toxicology and Pharmacology coauihored by the Science Consortium noied (he differences beiween human rat respiratory Iracls that render rai-based inhalalion l¢sts unreliable for predicting human reswnses. The paper is ¢xpe¢i¢d lo be widely cited, supporting a global shifi iolvards ihe use of non-animal method5 for inhalation loxicity testing. FUTURE PLANS Preventing or Relitving ihe Suffering of AnlmAIs PETA scientists will participate as 8ccredited stakeholders in the work of several inlernarional forums, including repr¢seniing the Science Consortium on the Inlem81ional Council on Animal Protection and tesi guidelines programm¢ of th¢ OrBanisation for Economic Co.op¢ration and Development (OECD), the European Food Safely Auihoriiy. and the ECHA, including ils Member State Committee. PETA scientists will also offer as$istante where needed io human and velcrinary drug r¢gulators around the world to promoie ih¢ developmenl and use of non-animal methods in r¢8ulalory testing. To ensure ihai experiments on animals are minimised wher¢ver p055ible. we will engage with the Home Office Animals in Science Regulation Unil. We will continue to urge rhe Univetsity of Bristol to end ihe use of the forced sivim test. We ivill continuc to promoie ihe Research Modernisation Dcal as part of our campai8n lo ur8e th¢ gov¢rnm¢nt to implement a strategy for ph&sing out the use ofanimals in experimenls. We will continue io provide financial support for the developmènt and validaiion of appropri8k non-animal Ineihods as they arise. We ivill continue to OPFKlSe factory farm planning applicalions. focusing our r¢sour¢es on those that would have the worst impact on the largest number of animals andlor encourage horrific trends, su¢h as zero-grazing facilities. By organi5ing eye-carching ¢vents, offering vegan food sample5, and informing people about the options available. PETA will conlinve to advocaie for vegan eating. We will continue to develop g￿d relalion5hips with retailers and encourage them io promote animal-friendly fashion and stop selling producis from ¢ru¢l indusiri¢s. Docusign Envelope ID.. BB634A6E-1A21442B-8C78-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENTOF ANIMALS (P¢TA) FOUNDATION TRUSTEES. REPORT (conttnued) FOR THE S'EAR ENDED 31 JULY 2024 FUTURE PLANS Icontinued) We ivill keep working to encourdge department stores, major venues, and ihe organisers of sporting evenis to implement more animal-friendly policies. This will include holding meetings with key decision-makeTS. advo¢aiing for sourcing only from eihictll supplier5, and posting action alerts to cnli5t the help of OUT supporters in wrilin8 lellers and s¢ndin8 e-mail5. We will continue to push supermarkets. including Whol¢ Foods, to stop selling coconut milk sourced from Thail￿d. We ivill ¢ontinue working io reduce the number of animals exploited for human entertainment by inforrnin8 ihe public aE¥)uf ihe suffering of animals in the tourism and travel industries and encouraging tour operators noi io promoie activities thai a￿ cruel to animals. We will continue working with groups in Spain and elseivh¢re lo push for ban5 on buiifi8hiing. And we will wnrinue io develop our relaiionships with travel companie5 to offer Buidarbce on animal welfare issues and policies and Teduce the suff¢rin8 of4nim81s us¢d in tourism. Adv8n¢ing Publii Education Con¢eTning thc C*re and Trtatment of Animals PETA ivill provide the public with information obout crLielty.free pmducts and, where necessary, give examples of crude. egregious animal lesis. We will also use consumer pressure to persuade companie5 conducting or commissioning animal tests io chan8e iheir poli¢i¢s. We will continue io respond lo ihreais of irtcreL5ed animal use in laboralories- such as legislative changes or plans to build new facilitie5- and neiv infortnaiion.aboui eAisiing animal iesring. We will bring these issues to the attention of ihe public and the media and mobilise our supporters lo express obj¢¢lions through appropriate deiT)OCTatic means. We ivill coniinue to provide accurate. current information about anifflal experiments and their alieinative5 on our ivebsite, social media platforms. and in other wrillen materials and Provide ihe Science Consortium with this infornialion to publish on ils website. We ivill campaign lo persuade r¢lail¢r5 and reslaurants to increase their vegan options, making il easier for peopl¢ to make compassionaie food choices. We will work lo encourage more comp8ni¢s lo ¢ommil to th¢ "PETA-Approved Vegan" and 'lOOO/o Plant Wool" programmes for iheir cloihin8 and accessories to make it easier for consumers to choose fashion iiems that are not ih¢ pn)duci of animal sutrerin8. W¢ will disiribute various forms of lileTature- including leaflets, magazines, guide5, and postcard5- 10 inform ihe public about the many ways in ivhich animals are abused in e,xperimenrs, for food and clothin8, and in the erbtertainmenf industry and ¢h¢ delTimento1 Consequences ihis h&s on ZLnimals, the planei, hLiman healthi people living irt poverty around ihe world, and the moral progr¢ssion of society. PETA will seek out free advertising space in ma8azine5 and neivspapers and online for our campai8ns and public service announcemenis to inform thc public about the ways in which animals suffer for human interests and the environmenial and health benefils of adopting a vegan lifestyle. We Ivill work io inforrn ¢ourisis visiling Spain about the barbariry of buiifighiing and ihe psy¢holo8i¢al scars it can leave on sp¢¢iaiors. W¢ will encourage tourists lo ayoid camel, donkey, and hors¢ rides at leading iourist attractions, such as the pyramids of EEYPt. We will ¢ontirtu¢ to rahse awareness of "pedigree" dogl, predisposition for genetic disorders and lh¢ ways they suffer as result of being bred for unnaiural physi¢al ¢haracteristics as well as encourage the public to adopt 8nimals from shelters and promote the spaying and neulering of Companion animals io addre55 the cat and dog overpopulation cris¢5 caused in largc part by bre¢d¢rs. 10 D(Kusign Envelope ID.. BB634A6E-1A214428-8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS IPtTA} FOUNDATION TRUSTEES, REPORT l¢onlinued) FOR THE YEAR ENDED JI JULY 2024 FUTURE PLANS (continued) We will also call on celebrity supporter5 lo endorse various campaigns io bolster awareness of support for our messages among ihe public. We will Continue to inform the public alx)ui the benefits of vegan eating with regard to animal welfare, the environment, and human health through media campaigns, onlin¢ promotions, direct mail. and eye-catching demonstr&tions and events. We will Continue to expose the cruelty inherent in using animals for iheir skin and encourage consumers to choose animal- free cloihing. We will k¢cp supplyin8 companies and oiher eniilies thai use animals with information about non.animal approaches and ¢ngagin8 iviih studenls, professionals, and oihers lo f051er swdies and career development that don't involve animal use. Conducting and Publishing Research PETA will continu¢ io share inv¢siigAtion fLndin8S Wlth designers and clothing retailers and promo1¢ developmenis in anim81-fret (abTl¢S, We will supply occurAie, currenl information about aniinal experimenrs on our websiie and in otsr other written materials, including guidance on findin8 products that have not been tesied on animals. We will m8intAin our own knoivledge base of non-animal research and lesling meihod5 and disserninate research and other information as required. PETA scientists will continue lo pafli¢ipai¢ in s¢i¢niific workshops, conferences, and symposia to represent the case for reducing animal use, and we anlicipaie ihal ihey will deliver papers and presentations al these and oih¢r relevant evenls. We %vill conduct Tegearch in suppori of a wide variety of animal protection issues and publish and disiribuie reports and educational materials for the.public ihrou8houl ih¢ year to continue our work to reduce animal 5ufferin8. Throiigh ihe Scitn¢¢ Consortium, Iv¢ will participate in PLiblishing article5 on minimising iesling on animals in relevant outlets, We will continu¢ io develop relationships with restaurwit5 to shaTe ihe ben¢fiiS of vegan food lor animals. the planet, and human health. REMUNERATION POLICY Consistent iviih our chariiable mission, we set compensation at modest and charity-appropriaie levels while still ensurin8 Ive can recruit nnd r¢iain th¢ skilled, experienced 51afl' necessary 10 carry out our work in a ¢ompetiiive job market. We are commitied io dedicating a5 much revenue as possible directly to our ¢h¥Lrilable activities, so we sei stsff ¢omp¢nsaiion with this in mind. FUNDRAISING POLICY We are registered wilh the Direci Markeiing Associaiion (DMA) and the Fundraising Regulator, and we commil lo conducting legal. open, honest, and respeciful fundraising, meeling the slandards sel in both OTganisaiions' Codes of Practice. We also ensure that nobody iyho app¢ars to be vulnerable is asked to commit 10 8iVln8, as per our own inr¢rnal guide of conduct for staff and following the DMA 8Liideline5 for dealing ivith vulnerable persons. Our fundrllising is carried oui by a team of professional fundraisers ivho are all einployed by PETA. 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A)E8?I pgnj)JEM?AI￿ SEU V.I.IA {tr1 £'9L I'l s Jo wniipu)dxg lau .'Izoz) str6,1 L63 ￿lIE101 SIU?WIS?AU! UO SSOiISU!E8 ?JoJ4 wniipuadx? i?N 'Ioii'1 £8'g .'£ioi) g i L'168'gS P3IIElm frloz JOJ aLUO?Ul .91 s?SEd uo s•!l!A!l)V IPI)UEUI J JO JU>W¥lelS >41 u! ino )•s si &!Jv4) puv dnojg ayijo siins?J ayijo AJEwwns v JBJA a41 Joj siin5a¥ AI31A311 IVI)NVNIJ ZOZ Ainf 1£ a3aN3 IIV3,I 3HI IIOJ Ipanu!iuo>) Iilodjll ,s33isnyi NoiivaNAoJ (Vlad) SIVWINV JO IN3WIV31111V)11113 3HI IIOA 31d03d LZL6LSS?trJ3V-8lJf-8ZtrtrL2VI-39V*E988 .01 •doi¥Au3 uOisnJoa Oocusign Envefope ID.. 88634A6E-1A21442B-8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA) FOUNDATION TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIFS (continued) Company law requires the Trustees lo prepare financial statements for each financial year which give a Irue and fair view of Ihc slai¢ of affair5 of the charitable company and the group and of ihe incoming re50urce5 and application ol r¢sources, including Ihe income and e.xpenditllTe, of the charitable comparby and 8roup for ihat period. In preparing these financi81 slaiements. Ihe Trustees are fequir¢d to.. select suitable a¢¢ouniing policies and rhen apply them consistently. observe the method5 and principles in the Charilies SORP. make judgements llnd estimales that are reasonable and prudenl. State %vheih¢r applicable UK Accounting standards have been followed, subject to any material deparrures disclosed and explained in th¢ financial statements, prepare the financial sta¢em¢nts on the going conc¢m ba515 unless It is inappropri* to presume th￿ the company will eorblinue in business. The Tru5tee5 are reswnsible for keeping proper accouniing records which disclose ivith reFL50nable accurncy at any time ihe rinancial posilioft of rhe company k￿d the group and to enable Ihem to ensure that the financial Statements comply with the Companies Aci 2006. They are also responsible for safeguarding ihe &ssels of the company and the group and hence for taking reasonable step5 for the prevention and de*clion of fraud and other Irregularities. In so far as we ELre aware= There is no relevant audit informalion of which ih¢ charilllble Company's auditor is unaware. and The Trustees have iaken all sieps thai they oughi io hav¢ iaken to make rhemselves aware of any relevant audit informalion and to esiabli5h thai the auditor is alvar¢ of that information. Qu#lSfying third pariy Indemnity provi$lons The Charily ha5 granted an ind¢innily to lis Trus1¢¢5 against liability in respect of actions brought by third parlies, subject io the conditions set oul in the Companies Aci 2006. Such qualifying Ihird-party indemnity provision remains in force ai the dale of approving the Trustees, report. AUDITORS The ¢hariiy's auditor5, FlaysMa¢ LLP, have expressed h willingness io continue in office and a resolution proposin8 their reappoinimenl will be put lo the memb¢TS in accordanc¢ wilh the Compani¢s Aci 2006. This rewrt has been Prepared in accordance with the Statement of Recommended Practice Accounting and Rew)rting by Charitie5 SORP 2015 (Second Edition, effe¢iive l January 2019) (FRS 102) and in accordance with the special provisions of the Companies Act 2IXJ6 rela(in8 10 5moll enlitie5. By order of the Board of Trustees 188118131BC7412... Dotuslgned By.. Ingrld Niwklrk ngrid N¢JYkirk Trustee Date 12/6/2024 13 Oocu$ign Envelore ID.. BB634A6E.1A21442B.8C78-AEC4C5519727 INDEPEN'DENT AUDITOR'S REPORTTO THE MEMBERS OF PEOPLE FOR THE ETHICAL TREATMENT OF ANIIViALS PeTA FOUNDATION Opinion We have audited th¢ financial statements of People for ihe Ethical Treaiment of Animals (PeTA) Foundation for the year ended 31 July 2024 which comprise the Consolidated and Charitable Company Statement of Financial Activities, the Consolidaied and Ch8riiable Company Balan¢¢ Sh¢¢is, rh¢ Consolidai¢d Siaiemeni of Cash Flows and notes to the financial statements, including a sumrnary of significant accounling policies. The financial rew)rting framelvork ihai has been applied in ih¢ir prtparaiion is applicable law and United Kingdom Accounting Siandards, including Financial Reporting Standard 102 The Finaneiol Reporling Siandardapplicable in ihe UKond Republic oflreland (Unii¢d Kingdom Generally Ac¢¢pl¢d Accouniing Pra¢iic¢). In OUT opinion, the financial statements.. giv¢ a tru¢ 8nd fair view of ihe sthre of the group's and of the partni charitable company's affairs gs at 31 July 2024 and of the gTOUP'5 and pareni chariiable company's net movement in funds. including the income and cxp¢ndilurc, for lh¢ ycar ihcn ¢nd¢d. have been properly prtpared in accordance with United Kingdom Generally Acr£pted Accounting Practice,. and have been prepared in accordance wilh the r¢quir¢meni$ of th¢ Compgni¢s Act 2(M)6. Basis for opinion W¢ ¢ondu¢ied our audil in accordan¢e with Iniernational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our reswnsibililies under those siandard5 are further described in the Auditor's responsibilities for the audii of Ihe financial statement5 section of our report. We are independent of the charity in accordance with the ethical requirements thal are relevant io our audit of the financial staiemenls in The UK, including ihe FRC'S Eihical Standard, and lye have fulfilled our oiher ethical responsibilitiC5 in accordance ivith these requirements. We believe Ihat thc audit evidence we have obtaincd IS 5uffi¢ieni and appropriaie io provide & basis for our opinion. Cottelusions relotinE to golng coneer In audiling Ihe financial siaiements, we have concluded that the trustees, use of the going concern basis of a¢counling in Ihe preparation of the financial siaiemenis is appropriate. Based on ih¢ work we hov¢ perform¢d, we hav¢ noi id¢niifi¢d any material un¢¢riainlies r¢latin8 to ¢venis or conditions that. individually or collectively, may c&st 5ignificani doubl on the group and charitable company's ability to continue &$ a going concern for a period of at least twelve months from when ihe financial slalements are authorised for issue. Our responsibilities 8nd the rcsponsibili¢i¢s of the iruslees wilh respe¢t ro 8oin8 concern are described in relevani sections of Ihis report. Other information The trustees are responsible for the other information. The oih¢r inform81ion comprises ihe informarion included in the Trustees, Arwual R¢port. Our opinion on ih¢ finart¢ial slaiements does noi cover ihe other informaiion and, except lo the exieni oth¢rivise expli¢iily slaied in our retKTrrl, we do noi express any form of assurance ronclusion ih¢reon. In connection ivith our audil of the financial statements, our responsibility is to read the other information and, in doing si). consider ivhether the other information is materially inconsi51enl Nvith the financial 5tatement5, or our knowledge obtained in Ihe audii oroiherwis¢ app¢8rs to be m8terially misstJi¢d. If we identity su¢h mai¢ri81 inconsisr¢ncies or appar¢ni material wnisstktemenls, we are r¢quir¢d lo d¢lermin¢ M,h¢ther ther¢ is 8 material missthiement in ihe financial statements or a material misstatemenr of the other information. If, based on the work we have perfoimed, we conclude that there is a material mi551alement of thi$ oiher information, we are required io report IhELt fact. Wt have nothin8 lo report in this regard. Opinions on other matter5 PYt5cribcd by the Companies Act 2006 In our opinion. based on Ihe %VOTk undertaken in ihe course of the audil.. the information Eiv¢n in th¢ Trusi¢¢s' R¢pori (which includes th¢ dir¢¢tors' report pr¢p8r¢d for ihe purwses of ¢ompany18w) for ihe financial year for which the financial staiements aTe prepared is consistent %vith the financial staiemenls. And the directors. report included within ih¢ Trustees, Report has been prepared in accordance with applicable legal requirement5. M*iicrs on which ive arc rcquired to report by exftption In the lighi of ihe knoM,ledE¢ and understanding of lhe group And the parent charitable company and lis environment obtained in the course of the audil, we have not identified material misststements in the Trustees. Rewrt. 14 Oocusign Envelope ID.. BB634A6E.1AZ14428.8C7B.AEC4C5519727 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS PeTA FOUNDATION CONTIIYUED We have nothing to report in respect of the following matters in relation io which ihe Companies Aci 2006 requires us to report to you if, in our opinion.. adequ8ie ac¢ounting records hav¢ not been kept by the parent charitable company- or the parent charirable company financial slaiements are noi in agreement iviih lh¢ accounting records and r¢lurns' or certain dis¢losur¢s of trustees, remuneraiion specified by law ar¢ not made- or we have not received all rhe information and explanations we require for our audit. or rhe irusiee5 were not ¢nlÉtl¢d to prepare the financial statement5 in accordance Ivith the small companies. regime and take advantage of the small companies, ex¢mption5 in preparing ih¢ Irustees. report and from th¢ rcquircmenl to prepare a SiTaie8iC Teporl. Respon5ibilitics of irustees for thc financial $tAtem¢nts As eyplained more fully in th¢ trus¢ces' resp)nsibilities statement sei oul on page I l. the iru5t¢es (who are also the direciors of thc charitable company for th¢ Purposes of ￿MPanY law) 4r¢ responsible for the preparalion of ihe financial 5talemenlS nd for bein8 sgiisfied that they giv¢ a true and fair view, and for such internal control as ihe trustee5 determine 15 necessary to enable Ihc preparation of financial 5tat¢ments that are free from material misstaiement, whether due to fraud or error. In preparing the financial siatements, the trustees ar¢ responsible for assessing the group's and ihe pareni ¢h8riiable company'5 ability lo ¢onlinLl¢ a5 a going ¢on¢eTn, disclosing, a5 appli¢abl¢, mallers r¢laied to going concern ond using the going concern basis of a¢counting unless ih¢ irusiees either iniend io liquidate the group or the pareni charitable company or io cease operations. or have no realistic alternative but to do so. Auditor's responsibililie5 lor the audil of the fin&nci*l si*itments OUT objectlVC5 ￿re to obiain reasonable assurance aboul wheihcr the finan¢i81 slal¢m¢nts as a whole ar¢ fr¢¢ from m8t¢rial misstatement, whether du¢ io fraud or error, and io issue an auditor's reporr ihal includes our opinion. Reasonable a55urance is a high level of assuran¢e but is noi a guaraniee ihat an audii Conducted in accordance with ISAS (UK) Ivill alivays detect a maierial missl8i¢m¢ni ¥vhen li exists, Misstat¢ments can arise from fraud or error and ar¢ considered material if, individually or in the a88regal¢, Ihey could re&sonably be elpeeled to influence the economic decision5 Qf users laken on the basis of these financial slalements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibililies, ovilined above, to deieci material mi551atemenlS in r¢sp¢cl of irregulaTilies. in¢ludinE fraud. The extent io which our pro¢edur¢s are capable of d¢i¢cting irr¢gulariiies. in¢luding fr8ud 15 detailed below.. Based on our understanding ol. the group and charitable company and the environmeni in which li operaies, Ive identified Ihai the principal risks of non-compliance with laws and regulations related to Charilies Aci 201 I, Companies Act 2006, GDPR, health and safety regulalion5, fundraising regulator amd employment law and we considered the ¢xien( io which non-compliance mighi have ll Inalerial ¢lY¢¢t on the financial Slaiements. We Also considered ihose laws llnd regulations. that havc a dir¢cl impact on ihe pr¢par8tion of the financial slai¢ments such as ihe Companies Aci 2006. Ihe Charities SORTr 2019 and t&x re8ulalions. 15 . DocuswJn Envelope ID.. B8634A6E-1A21442B4C78-AEC4C5519727 INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF PEOPLE FOR THE ETHICAL TREATMENT OFANIIMALS PeTA FOUNDATION, CONTINUED We evaluated managemenl's incentives artd opportunities for fraudul¢nt manipulation of the financial Statements (including the risk of ov¢rride of Conirols and the ¢ul-off and compleieness of voluntary in¢ome)- Audit procedure5 performed by the engagement t¢am included.. Inspecting correspondence wilh regulators and thx authorities. Discussions with rnanagement including consideration of known or suspecied inslan¢es of non-compliance with lalvs and T¢8ulalio¥L and fraud. Evaluating management's controls designed to pr¢venl and deiecl irregularities. Identifying and iesting joumals, in particular journal entries posted wilh unusual account combinations. postings by unusual users or ivith unusual descriptions; and Challenging assumpiions And judgements made by mana8¢menr in their criiical accounting estimates. Because of ihe inherent limitaiions of an audiL rhere is a risk that we Wbll not detect all irregularities. including those l¢ading 10 a mal¢rial missiaiemcnl in lh¢ financial slal¢m¢nt5 or non.¢ompliance iviih regulation. This risk incTea5es the more thai compliance with a law or regulation 15 remov¢d from the evenis and transactions reflected in ihe finan¢ial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater ￿gardIng irregularilies occurring du¢ io fraud raiher than ¢rror. as fraud involv¢s inteniional ￿ncealment, forgery, collusion. omission or misr¢pr¢sent&lion. A further description of our re5w)nsibiliiie5 for ihe audit of the financial stalemcnts is lo¢at¢d on ihc Financial Reporiin8 Council's ivebsite at.. Ivw This descTlPtion foriTsS par¢ of our audilor's report. Use of our report This r¢porl is made solely io the chariiable compony's m¢mkrs, as A body, in accordance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so that we might sillie to the charitable company's members Ihose matieTS we are required to state to them in an Audilor's report and for no other PUTpose. To ihe fullesi ¢Ni¢ni permitted by law, we do not accept or assume rc5ponsibility lo anyone other Ihan the ¢haTitabl¢ company and th¢ ¢harilabl¢ company's members as a body, for our 8udii work. for this report. or for the opinion5 we have formed. SiobhaD Holmc'$ (Senior $t8tulory ¥uditor} fur on bLhAlf of Huysmac LLP, Statutory Auditor 10 Qui'cn Street Place London EC4R IAC Datc: 11 December 2024 Haysmac LLP is ¢ligible to act as an auditor in terms of section 1212 oFthe Companies Aci 2006. 16 Oo¢usign Envelope ID.. B8634A6E-1A21442B4C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA) FOUNDATION GROUP AND CHARITI, STATEMENT OF FINANCIAL ACTIVITIES Iri'CORPORATlh'G THE Ih'COME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 2024 Total 2023 Total Unrtstricled Restricted Note INCOME ON: Donation5 and legaci¢$ 4.672.177 763,781 5.435.958 5.773,333 Investment income 46,913 46,913 36.922 Other income 408,844 408.844 865 Total income 5,127,934 763,781 5,891,715 5,831,120 EXPENDITURE FROM.. Raisin8 funds 994,602 994,602 .126,795 Charitable aetivities 5.031,002 838,056 5.869,038 5.880,639 Total expen(litllTe 6.025,604 838,036 6,863,660 7,007,434 Nel expenditure b£fort 1051 011 investmenly (897,6701 {74,275} {971,943) (1,176,314) Nei gains on investments Nei 8ains on Sale of fixed a$$eis 43,886 71.999 43,886 71.999 (152,626) Nel movemeni in funds (781,785) (74,275) (856,060) (1,328,940) Funds at l Aygus¢ 2023 2,630.339 245.878 2,876,417 4,205,357 Funds 8¢ JI July 2024 .848,754 171,603 2,020,357 2.876.417 All amounts have be¢n derived from continuing activities. There are no other gains or losses other than ihose stated abov¢. The a¢companyin8 notes are an integral part of these accourbts. Deiails of comparative figures by fund are di5clos¢d in note I 17 Do¢usign Envelope ID.. B8634A6E-1A21442B-8C7MEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS PtTAI FOUNDATION COMPANY NUMBER: 03135903 GROUP AND CHARITY BALANCE SHEETS AS AT31 JULY 2024 Group 2024 Charity 2024 Group 2023 Ch#Tity 2023 Note FIXED ASSETS Tangible fixed assets Investment5 46,145 1,631,094 46,145 1,631,094 51,547 2.255,875 51.547 2,255,875 1.677,239 1,677,239 2,307,422 2.307,422 CURRENT ASSETS Sio¢k Debtors Cash at bank Assets h¢ld for sale 4,854 230,850 542,832 4,854 230,850 542,832 4,538 488,783 361.431 183.850 4,538 488,783 361.431 183,850 778.536 778,536 1,038,602 1,038,602 CURRENT LIABILITIES Creditors.. amounis falling du¢ within one year (435,418) (435,4181 (469.606) (469.606) NET CURRENT ASSETS 343.118 343,118 568.996 568.996 NET ASSETS 2.020.357 2.020.357 2.876.418 2,876.418 FUNDS UNRESTRICTED FUNDS Gcntral funds Trading funds 10 10 1,848.753 1,848,753 2.630,539 2.630,539 RESTRICTED FUNDS Restricted funds 10 171.604 171.604 245,878 245,878 TOTAL CHARITY FUNDS 10 2,020,357 2.020,357 2.876,417 2,876,417 The financial statemenls have ￿en prepared in a¢¢ordance %viih the provisions applicable io charil)ble Comp￿1¢5 subj¢c( to the small companies regime. The financial siw¢menls w¢r¢ approved and authori5ed for issue by the Board of Trustee5 on below on ils behalf by.. Iz161214 and were signed 1081191318c7412,.. D•¢uSlen•d 8¥.. Inqrld N•wllr* Ingrid NL'ivkirk Trustee The attt)mpanying notes are an iniegral paTI of these accounts. 18 t)ocusigt) Envelope ID.. BB634A6E.1A214428.8C7B.AECdCS519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS (PeTA) FOUNDATIOIN CONSOLIDATED STATEMENT OF CASH FLOIVS FOR THE YEAR EN'DED31 JULY 2024 2024 2023 Cash floivs from operating #¢tivitte$'. Nei cfish provided by operrtling n¢iivi14es (755.382) (1.196.083) Cash flowg from inve8tin8 IlCt•viti¢$: Bank inrerest Dividend income Purchas¢ of ian8ible fixed 8SS¢ts pUrch￿e of investments Proceed5 from sale of investments Proceeds from 58le of asset5 held for sale Proceeds from fixed assets 7.339 39.573 {8.356) (280,200} 928,566 249.710 8,355 48,567 {10,892) {571,578) 547.442 Nei ¢n$h 8eii¢rftiedlrom iiiveslin8 nclivliiej 936.783 21,894 Change in ¢*sh and cash equiv*l¢nt$ In the reporting period 161.517 (1,174.189) Cttsh and cash equivalents at the beginning of the reporting pcriod 361,431 1,535,620 Cash *nd c#gh equival¢nt5 at the ond of the reportini p¢riod 542.832 361,431 Rc¢on¢ili4tion of n¢1 In¢om¢ tTr Tret floiv from opermting Hctivilies 2024 2023 NLt income for ihe reporting period (My per (hc st#lomcnt of financial activili¢$) AdjUStme￿IY ttir: Depreci)lion charges Bank interest Dividend income Gain on ih¢ 581e on assets h¢ld for $ale G8in on sale of invesimenls (IncreasellDecr¢&s¢ in stock (Incre&se)IDecrcas¢ in debtors Increa5el(Decrease} in creditors (856,060) (1,328,940) 13.606 (7,339) (39,573) {65,860) (23.585) (316) 257,933 (34.188) 16,795 (8,355) (48,567) (419) {152,626) (192) (324,398) 650,619 Net Cash provided by operating 4ftivities (755,382) (1,196,083) 19 Docu￿￿ Envelope ID.. 88634A6E-1A2144284C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS {PeTA) FOUNDATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES The principal accounting policie5 adopted. judgements and key sources of estimaiion uncertainty in the preparaiion of ihe accounts are laid out below. Bd5i¥ of Accounting The financial siatem¢nis have been prepared in accordance with Accounting and Reporting by Charilies.. Stat¢m¢nt of Recommended Practice Bpplicable to charities preparing their accoun¢S in a¢cordan¢¢ with Sia(emeni of Recommended PTa¢tice "Accounting and Reporting by Ch&rilies" SORP 2015 (Second Edition. etTective January 2019) (FRS 102) and the Companies Aci 2006. The charity is a Public Benefit Eniily regislered as a charity in England and Wales and a company limiied by guarantee {￿mpanY number.. 03133903 and charity number.. 1056453). b) Prep#rntion of the accounls on a going concern ba415 Having considered fulure budgeis and cash flows and taking into accouni any potential future impact from the incr¢as¢d Cost of living, global instability cspecially within the financial mark¢¢5, Ihe ne%v autumn budgei siaiemenls and the impacl of NIC to our operating exF¢nses ihe trusi¢es confirm ihai ihey have no material uncertainlies about the charity's ability to continue as a going concern for the for¢5¢¢able future. Company Attounts The financial siatem¢nts consolidELte the results, asseis and liabilities of the Charity's wholly owned tradin8 subsidiary, PeTA Europe Limited (company number.. 02886928) on a line-by-line basis. The Charity has tsken advantage of the exemption available to a qualifying entity in FRS 102 froTll ihe requirement lo presenl a charity only Cash Flow Stoi¢m¢nt iviih the financial 51ai¢m¢nis. d) Fund #ccounling Unreslricled funds comprise accumulaied surpluscs and defi¢ilS on general iradin8 funds. General funds compTise the accumulaied surplus or deficii from the Statement of Financial Activities ivhich is not reslri¢l¢d nor d¢signaled funds. They are ZLvailable for use at ihe discretion of thc Trustees in furtherance of the 8¢n¢ral objectives of the Charity. Trading funds are the accumulated surpluses of ihe iradin8 subsidiary. Restricted funds are us¢d for 5￿cIfIC purp05e5 &S stated by the grantor. Expenditure which me￿5 these crireria is charged io ihe fund. Inf ome Income Tepresents donations from the public, l¢ga¢ies and investment incom¢. All income 15 accourbted for on a rettivable basis. £xpenditur¢ Expenditure is accounted foi on an accThals basis. EKpenditur¢ is allocated lo the parti¢ulw activity where the cost Telates diTecily to that activity. However, the wst of overall di￿£t10n and adtninistration of each activity, comprising ihe salary and overhead c05¢5 of Ih¢.¢entral function, is apporiioned based on staff time atlributllblc lo eaeh aciiviry. Governanc¢ costs comprise the costs of Sirategic planning, external audit. any legal advice for the ch￿Ity's Trustees and all ihe costs of Complying wilh ¢onsiilulion81 and statutory requiremenls. 20 Oocusign Envelope IO.. BB634A6E-1A21442B-8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS IPeTA} FOUNDATIOh' NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JULY 2024 ACCOUNTINC POLICIES {conlinu¢dl Operating Lease5 Rentals for assets held under operating leases are charged to the profit and loss account as they be¢ome payable. h) Tangible fixcd asseis Tan8ibl¢ fixed a55ets are staled at C05t, less dcpreciation. Deprecialion is provided on all tanBible fixed &sseis ai r8t¢s cal¢ulai¢d lo wriie off ihe cost, less residual value of each asset on a sirai8hr.lin¢ basis over its expected useful lif¢ as follo¥vs. Leasehold improvem¢nts FumittJr¢ Compuler Sothvare Compuler Equipment over 10 years over 7 years over S years over 3 years Individual ilem5 ofcapital expendilure over £500 ar¢ treated &s fixed &45et addilions. Financial instruments Basic financial instrufflenfs are initially reco8nised ai iransa¢lion value and subsequently measured at arnortised wilh the e.xception of invesmienis which are held ai fair value. Financial 8sseiS held amortis¢d cosi compris¢ cash at bank and in hlind, 108eih¢r %vith trad¢ and oih¢r debtor5. A srKcific provision is made for debts for ivhi¢h re¢ov¢rability is in doubi. Cash at bank and in hand is defined as all cash held in insiant a¢¢ess bank a¢¢ounis and used as working copilal. financial liabilities held al amortised cost Comprise all credirors except social security and other t&K'es and Provisions. J) C4sh and bank Cash 91 bank and in hand inclvdes b￿k accounts, cash and short t¢m highly liquid investments ivith a short maiurity of three monih5 OT less frorn the dai¢ of acquisition or opening of the deposit or simillir accounl. k) Creditors and provl$lon$ Crediiors and provisions are recognised where the charity has a present obli8alion resuliing from a past eveni thal will probably resvlr in the transferof funds to a third party and ihe aniouni due 10 settle the obligarion can be me&sured or estiinaied reliably. Creditors and provisions are norfflally recognised ai iheir settlemeni amount after alloivin8 for any trade dis¢ounls du¢. i) Estlmatlon uncertainty The Trustees have &ssessed wheiher the use of th¢ goin8 ¢onvrn assumption is appropriate in PTepaTing these accounls. The Trustees have made ihis assessment in respect of a period of one year from the date of approval of these financial slaiements. The Trustees of the charity have concluded that there are no mal¢rial un¢er18inties related to events or conditions that may cast significant doubi on the bbility of the chariiy io continue going concern. The trustees have given considcration to projected forecasis of fuiur¢ donations again51 underlying costs and are of ihe opinion that the charity will have sufficient resources to meet its liabiliii¢s as they fall due. 21 Docusign Envelope ID.. BB634A6E-1A214428-8C7B-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMEKf OF ANIMALS (PeTA) FOUNDATION 'OTES TO THE FINANCIAL STATEfvIENTS {continued) FOR THE YEAR ENDED31 JULI'2024 TAXATION Th¢ charitable company is exempt from l&xalion under the Income and Corporation T&xes Act 2010. DONATIONS AND LEGACIES 2024 2023 Publie donations Group Charity 4,480,741 4,480.741 4,885,496 4,885,496 Legieies Peopl¢ for ihe EihiGal Treatmeni of Animals IPeTA) Found*ion 955.218 887,838 TOTAL EXPENDITURE Stiff C05tS Other 2024 Total 2023 Total Dcpreciation C05t of ruising funds: Fundraising 375.491 617.070 2,041 994.602 1,126,795 Charil&ble a¢tivitios: Education and pr¢veniion of cruelly Governance costs 2,677,475 3.158,608 21,410 11,565 5,847.648 21.410 5.861,679 18,960 3.052,966 3,797,088 13,606 6.863,660 7,007.434 GTOUP expenditure disclosed above in¢lud¢s £6,863,660 (2023.. £7.007,434) relating to the Charity alone. All expenditure 15 directly incurred in conneciion ivith each a¢iiviry. Siaff costs are allocated across activities based on lilne sp¢ni. Governance costs relate solely lo the fee for audit and advisory services. TOTAL EXPENDITURE Siaff cos¢J Other ¢o.Its 2023 TolAI 2022 Totthl Depr¢¢lo¢•on Cost of raising funds: Fundraising 380,745 743.195 2.855 1,126.795 931.052 Chgrilable activitie5: Education and prevention of cruelty Governaiice costs 2,224,321 3,625,678 16,700 13.940 5.863,939 16,700 4,805,409 17,120 2.605.066 4.385,573 16.795 7,007.434 5,753,581 22 Docusign Envelope ID.. BB634A6E-1A21442B-8C7B.AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS {PeTA) FOUNDATIOY NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULI, 2024 TOTAL EXPENDITURE (continutdl Net income is stated alier charging.. 2024 2023 Depreciation Auditor's remuneralion: Audit fees Operating lease expense 13,606 16,795 22.740 74.897 18.960 54,459 TRUSTEES AND EMPLOI'EES The Company did noi pay rh¢ Trusiees any remuneration. nor did il reimburse to them any expenses (2023.. nonc). 2 employees Teceived remuneration betw¢¢n £60,000 - £70,000 and l employee rtceived remuneration betw¢¢n £90.000 £100.000 {2023'. 2 employe¢s received r¢muneration between £60,000 £70,000 and l ¢mployee received remuneraiion beiween £80.000 - £90.000). The employer pension contributions for the higher earners tolal £40,118 (2023.. £33,831). The total remuneration of key management personnel during the year £233,730 made up of 3 employees. (2023: £275,124 3 employees) 2024 2023 Wages and salaries Social security cost P¢nsion cosl 2,484,068 329,889 239,009 2.129.624 237,278 194,456 3,052,966 2,581.358 The avera8¢ numlxr of employee$ durin8 the year ivas as follows.. 2024 2023 Charitable activilies 65 57 TANGIBLE FIXED ASSETS- GROUP & CHARITY Leasehold Improvementg Equipment Total Cost At l August 2023 (restated) Additions Disposals 39.669 69,215 8.356 (6031 108.884 8,356 (603) At 31 July 2024 39,669 76,968 116,637 Depreciation At l August 2023 (restated) Charge for the year DiswTr5a15 3,929 3,967 53,409 9,639 (452) 57,338 13.606 (452) Ai 31 July 2024 7,896 62,596 70,492 Net Book Val￿e Ai 31 July 2024 31,773 14,372 46,145 At 31 July 2023 35,740 15.807 51.547 23 OocusKJn Envelope10'. 8B634A6E-1A21442B4C78-AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMAIS IPeTA) FOUNDATION NOTES TO THE FINAIN'CIAL STA TEMENTS (continued) FOR THE I'EAR ENDED 31 JULY 2024 INVESTMENTS Group 2024 Charity 2024 Market v*1￿¢ s¢¢uritie$ At l August 2023 Additions Diswsals Gain on rev81uaiion 2.255,875 280,200 (928,566) 23.585 2,255,875 571,578 (547,442) (147.877) At 31 July 2024 1,631,094 2,255,875 Investments in subsidiaries Listed securifies Cash 1.568,404 62.690 1,568.404 62,690 PeTA Foundation acquired the whole of the issued share capital of PeTA Europe Limited during 1997. PeTA Europe Limited is a priv FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (¢ontinu¢d) FOR THE YEAR ENDED 31 JULY 2024 12. FUNDS- GROUP Gtner*l funds Troding fund$ Restritted (und5 Total 2023 Fixed assets Investmenis Curreni assets Current liabilities 51.547 2,255,875 908.789 (469,606) 51,547 2.255,875 1,038.601 (469,606) 129.811 2,746.605 129,81 2,876.417 IJ. OPERATING LEASES-CROUP & CHARITY Al the yew end, Ihe company was commiii¢d to making the followin8 payrnenis in loial in respect of operaiin8 leases-, Buildings Equipment 2024 2023 2024 2023 Paymen15 due.. Within one year Between 2 . 5 years More ihan 5 years 61,305 69.050 69,050 969 2,424 969 3.393 61,305 138,100 3,393 4,362 14. SHARE CAPITAL The Charity is a coinpany limited by guarantee and a regisiered Charity. li h&$ no share capital, and ihe liability of the members is limil¢d io £ I, 15. RELATED PARTV TRANSACTIONS Al the 31 July 2024, the Charity was oived £nil {2022.. £nil) from PET A Europe Lid ih¢ ivholly owned subsidiary Company. PETA Curope Limited donated £nil via gift aid to ihe charity duTin8 the year (2023.. £nil} There were no other related party transactions in the year. 27 Docusign Envelope ID.. 88634A6E_1A214428_8C78.AEC4C5519727 PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS IPeTA) FOUNDATIOIY NOTES TO THE FINANCIAL STATEMENTS (contin￿ed) FOR THE YEAR ENDED 31 JULY 2024 16. PRIOR YEAR COMPARATIVES SOFA Group Ch*rity 2023 Total Unrestricted Restricted INCOIME FROM: 4,653.711 .117,622 5,773,333 Don81ions and legacies 56,922 56.922 Investment income 865 865 Oiher irtcome 4.713.498 1,117,622 5,831,120 Tot¥1 in¢om¢ E,XPENDITURE ON: 1,126,795 1'.126.795 Rgi5in8 funds 4,581,518 ,299,121 5,880.639 Chariiable activities 5,708,313 .299.121 7,007,434 Tot*1 expenditure N¢¢ incomt btforc 8Ains on investmcnls (994,815) (181,499) (1,176.314) Nct gains on invesiin¢nts (152.626) (152,626) Net movemLnt in fundj {1,147,441) {181,499) {1.328.940) Fund5 Ilt l August 2021 3.777.980 427.377 4,205,357 Funds at 31 July 2022 2,630,539 245.878 2.876,417 28