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← Traffic International

2025-06-30-accounts

TRUSTEEs’ REPORT AND FINANCIAL STATEMENTS FY25

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contents

page 6

Trustees’ report, including strategic report

page 41

Administrative information

page 42 Independent auditor’s report

page 46 Financial statements

Published by:

TRAFFIC International, Cambridge, United Kingdom.

© TRAFFIC 2026. Copyright of material published in this report is vested in TRAFFIC.

TRAFFIC International is a UK Registered Charity No. 1076722, Registered Limited Company No. 3785518

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} " ye The fiscal year ending June 2025 (FY25) marked the second full year of implementation of TRAFFIC’s ambitious 2030 Strategy. Through a diverse portfolio of projects, we continued to tackle pressing issues and systemic drivers of illegal and unsustainable trade in wild species in Africa, “ the Americas, Asia, Europe and Central Asia, and the Pacific.

TRAFFIC delivered strong results across all five Priority Areas of our 2030 Strategy; addressing illegal wildlife trade across the breadth of the supply chain – from international legislation, through national law enforcement, working with communities, best practice with the business sector, to demand reduction at the consumer level. Strengthening evidence-based decision making within the international policy arena remained a high priority, with a focus on supporting implementation of CITES decisions, particularly facilitating legal and sustainable trade. We contributed to the delivery of the Kunming Montreal Global Biodiversity Framework targets related to wild species trade and participated in key decisions adopted at the Convention on Biological Diversity COP20. We advanced the call for protections of sharks and rays at the 2025 United Nations Oceans Conference. Significantly this year we also sought to drive and support policy change at the regional level with a focus on the European Union, Central Asia and the African Union.

National enforcement efforts were strengthened through data, tools, and training across the criminal justice system, with a growing emphasis on financial crime. A particular focus has been the timber and high-value marine species trades, to not only enforce the illegal trade in wild species but also facilitate legal and sustainable supply chains. We have worked with communities, particularly in Central Africa, Nepal and Tanzania, to improve their participation and benefits derived from trade in wild species whilst ensuring that harvesting is sustainable.

In addition to working with timber importers and the traditional medicine industry to improve the sustainability of their sourcing, TRAFFIC has worked to influence and change behaviours with sectors that enable the illegal wildlife trade, including e-commerce (in response to increasing online trade in wild species), transport and logistics, and the financial sector. Demand reduction campaigns targeted exotic pets and species used in traditional medicine and delicacies in China and Vietnam. Our expertise helped governments develop national demand reduction strategies. These are complex issues that require comprehensive systems solutions. Success has depended on partnering with donors, experts and those with lived experience, bringing together a wide range of perspectives and expertise.

A very challenging funding environment, with escalating geopolitical, environmental, social, and technological challenges, and marked by reductions in national contributions to overseas development assistance led to difficult decisions to pause affected projects and make some reductions to the workforce. This was a difficult and painful process but was essential to ensure longer term effectiveness. However, despite this, during FY2025 TRAFFIC continued to deliver an impactful and diverse project portfolio in support of the 2030 Strategy. There has been a concerted cross-organisational effort to diversify income streams and develop new supporters and partnerships, and new opportunities have opened up to us as a result.

We thank everyone who has helped us this year - our achievements would not have been possible without strong and valued partnerships with a wide range of stakeholders, including from government agencies, intergovernmental bodies, local communities, businesses, and the many partners who help amplify TRAFFIC’s impact.

We extend our sincere gratitude to our highly dedicated staff and to our Trustees for their strategic guidance and to our founding partners, IUCN and WWF, for their continued support and collaboration.

Finally, we acknowledge with deep appreciation the generous financial contributions from numerous organizations, foundations, and individuals. Their commitment has been instrumental in enabling the progress we achieved in FY25.

We are excited about plans for the 12 months ahead as we continue to mobilise our global network to protect wildlife, empower communities, and reshape trade systems for a more sustainable future. It is a pivotal year – not just for TRAFFIC, but for nature. The need has never been greater, and together we are building a better future – one where legal and sustainable trade works to benefit the planet and people.

Richard Scobey

Executive Director

Mark Halle Chair of the Board

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OUR STRATEGY AND OBJECTIVES
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TRAFFIC’s mission, as outlined in our 2030 Strategy is to ensure that trade in wild species is legal and sustainable, for the benefit of the planet and people. TRAFFIC’s vision is aligned with the long-term vision of the Kunming Montreal Global Biodiversity Framework: a world living in harmony with nature where, by 2050, biodiversity is valued, conserved, restored, and wisely used, maintaining ecosystem services, sustaining a healthy planet and delivering benefits essential for all people.

TRAFFIC is at the forefront of ensuring the global trade in wild species is a force for good. Without intervention, illegal and unsustainable wildlife trade will continue to:

cause species extinction

But none of this is inevitable. When legal and sustainable, trade in wild species can be a transformative agent for positive change: protecting biodiversity and bringing economic benefits. To this end TRAFFIC’s 2030 Strategy has two Goals:

  1. By 2030, illegal and unsustainable trade in wild species will be significantly reduced; and

  2. By 2030, legal and sustainable trade in wild species will provide significantly increased social, economic and environmental benefits to people.

With 50 years of expertise, TRAFFIC is a trusted partner and advisor to governments, businesses, law enforcement, and communities worldwide, tackling the root causes of illegal trade in wild species. From source to destination, we provide evidence, influence, and solutions to galvanise change. FY25 was the second full year of implementing TRAFFIC’s 2030 Strategy. The strategy is structured through five Priority Areas ensuring that trade in wild species is addressed across the breadth of the supply chain as well as through effective international and national policy:

  1. International Frameworks: Prioritised global and regional intergovernmental agreements are strengthened and new policies developed to promote legality and sustainability of trade in wild species and discourage illegal and unsustainable trade practices.

  2. National Policy and Regulation: Governments in priority geographies are effectively implementing regulations and policies for improved governance of trade in wild species and prevention and response to illegal wild species trade.

  3. Empowering Communities: People in prioritised supply chains and geographies have improved livelihoods through their involvement in legal and sustainable harvesting, trade, and processing of wild species

  4. Working with the Private Sector: Priority businesses in target sectors involved in or facilitating trade in wild species implement new or strengthened best practice to verify responsible wild species supply chains and deter illegal products from entering supply chains.

  5. Responsible Consumption: Consumption of illegal and unsustainable wild species products by target consumer groups is reduced in favour of sustainable wild species products or suitable alternatives.

This report highlights just some of the 270 activities delivered and impact achieved through a portfolio of over 80 projects this year by strategy Priority Area.

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Or ‘ = Image: Community forestry for Indigenous Peoples

CSLEES © Sam Obae / TRAFFIC Cover image: © Yingboon Chongsomchai / ZSL Thailand —

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TARGETED IMPACT:

STRATEGIC PROGRESS IN GLOBAL WILDLIFE TRADE SELECTED HIGHLIGHTS

Our achievements in FY25 show targeted interventions across five priority areas. By addressing policy, business practice, community livelihoods, and consumer demand, we are actively working to disrupt illegal wildlife trade and promote sustainable use globally.

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SUPPLY CHAIN STAGES OF WILDLIFE TRADE
SOURCE PROCESSING TRANSPORT SALE DEMAND
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PRIORITY AREA 1 INTERNATIONAL FRAMEWORKS

PRIORITY AREA 2 NATIONAL POLICY AND REGULATION

31 knowledge products produced

17 research findings incorporated into intergovernmental decision-making

2 intergovernmental agreements

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tools, resources, or collaboration mechanisms developed or strengthened

law enforcement staff successfully 2,945 completed training on wildlife trade-related issues

PRIORITY AREA 3 EMPOWERING COMMUNITIES

1176 community representatives successfully completed capacity building

2 new community empowerment mechanisms established to support legal and sustainable harvesting

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PRIORITY AREA 4 WORKING WITH THE PRIVATE SECTOR

PRIORITY AREA 5 RESPONSIBLE CONSUMPTION

407

new or strengthened best practice measures

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238 timber (China) 78 timber (Vietnam) 80 wild plants (FairWild)

11 airlines/transport

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new behavioural change initiatives delivered in China Vietnam Japan

850+ previous consumers of illegal wildlife products from local communities in Tanzania committed to sustainable alternatives

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pe bs | a DEEP DIVE: TIMBER AND ee ss a a . Gs Be ; Crm > S Nt ‘ ra, = es —— i oY 6 he f tp i - e SP, RAINFORESTS* — eS OR a ee

Protecting forests from illegal timber trade remains one of TRAFFIC’s biggest priorities, particularly given the escalating global climate crisis and the central role of forests in mitigating and adapting to climate change.

While global forest cover continues to decline, a hopeful sign is that the rate of deforestation is slowing. The Kunming-Montreal Global Biodiversity Framework has brought renewed global focus to the biodiversity crisis, whilst establishing robust targets for progressing towards the sustainable use of nature.

Wood production has reached a record 4 billion cubic metres each year. At the same time, billions of people rely on nontimber forest products for their livelihoods.

TRAFFIC’s mission is twofold: to tackle the root causes of illegal timber trade thereby reducing deforestation and corruption, but also to determine and support sustainable levels of trade so that forests can be managed in a way that benefits people and planet.

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Empowering a”

Community forestry for IPLCs’ rights and resilience

In the heart of the Congo Basin, Cameroon’s rainforests are home to extraordinary biodiversity, ancient traditions, and a culture of reciprocal relationships with nature.

TRAFFIC is helping to change that. Piloted in two community forests and five villages, including one Indigenous Baka community, TRAFFIC has supported IPLCs in navigating complex legal frameworks to access “community forests.”

For Indigenous Peoples and local communities (IPLCs), these forests are both spiritual homelands and an essential source of sustenance. Yet, despite their vital role in protecting nature, IPLCs have long been excluded from enjoying the rewards of their ancestral forests.

These portions of forest, granted by the state, allow communities to sustainably harvest timber and other resources, participate in forest governance, and generate income.

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Beul local community
Mampang local community
Mayos Indigenous village
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The transformative power of community forests

With local partners, TRAFFIC has provided training in forest mapping, species inventories, legal compliance, and developing simple forest management plans for approval by the Ministry of Forestry and Wildlife.

As a result, these communities can now sustainably use forest resources. They plan to build schools, health centres, and water and sanitation infrastructure as a result. The next step is certification, which allows IPLCs to earn almost ten times more from the legal timber they harvest.

While challenges remain, TRAFFIC’s work in Cameroon shows that community

forestry is a scalable solution that protects both community members and the forests they call home, through combatting illegal logging, deforestation, and wildlife poaching.

TRAFFIC hopes to expand to 20 more community forests in Cameroon, with aspirations to replicate the approach across other Congo Basin countries.

We believe conservation means inclusion. By empowering IPLCs, we’re not only protecting forests, but we’re also investing in a nature positive future led by those who know and understand it best.

“ TRAFFIC has resurrected us - our community forest has given our village the chance to lift ourselves out of poverty

Majesty Mital Athanase, Chief of Mampang village

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East Africa timber tracker is born

Success for forestry expands

Following the success of Tanzania’s timber tracking system, TRAFFIC has been supporting its rollout in neighbouring Kenya.

The system helps Tanzania Forest Services manage the country’s extensive forests, so that degraded woodland recovers, corruption in timber trade is stamped out, and timber revenue increases.

At a TRAFFIC-convened meeting, Kenya’s forest service expressed eagerness to adopt the “beautiful system.” Now, Tanzania and Kenya are collaborating on a cross-border tracking system, with Uganda also signalling interest in joining the regional effort.

Image: Timber Tracker has revolutionalised legal and sustainable timber trade in Tanzania already. © Sam Obae / TRAFFIC a

YA Image: Vietnamese timber companies are pushing ahead with sustainability pratices. © James Morgan / WWF

Code of Conduct for Vietnamese timber companies

TRAFFIC worked with a forest products association in Vietnam to create a voluntary Code of Conduct for timber manufacturers. The aim is to help companies establish systems to check that the wood they import and export comes from legal and sustainable sources.

During the last year, TRAFFIC trained 47 timber companies in how to implement the Code of Conduct. The training ensured an increased level of understanding of the laws and sustainability standards for timber and wood furniture.

30 timber companies haveadopted the Code so far

These signatories have now started verifying the legality of their timber. This helps protect them from legal trouble and reputational damage linked to deforestation.

More companies will be introduced to the Code soon. The Vietnamese Government has agreed continued support and plans to expand training in the coming months.

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Supporting legal and sustainable timber trade into the EU

A new TRAFFIC guide supports legal timber trade from Cameroon to the EU by helping exporters and importers comply with the EU Timber Regulation and upcoming EU Deforestation Regulation (EUDR). In French and English, it includes step-by-step instructions, and is accompanied by national legality frameworks for six Central Africa countries.

The guide aims to combat illegal logging, protect ecosystems, and promote sustainable trade, ensuring transparency and legality in timber supply chains ahead of the EUDR’s enforcement in 2026.

Tools and interventions across an Africa-China timber supply chain

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China
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2. Pan-African transport
Traceability and permit checks
Eastern Africa 3. Export customs
Species legality check
Congo Basin at East African ports
1. Forestry management
Harvest, tenure, and licensing
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3. Export customs

6. Handling and processing

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Vietnam
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5. Import customs Species legality check at Southeast and East Asian ports

4. International transport

TOOLS AND INITIATIVES KEY:

Timber Tracker: A handheld device that streamlines timber tracking and verification of timber shipments

WoodID: This technology uses a smartphone app and macro-lens attachment to identify wood species in the field

TimberStats: This interactive data platform helps combat illegal timber trade by allowing law enforcement and financial institutions to analyse trade activity and identify potentially suspicious trade for further investigations

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PRIORITY AREA 1

INTERNATIONAL FRAMEWORKS

EU continues to drive action on wildlife trade

The EU remains a major hub for wildlife trafficking and trade , with species and products smuggled into, through, and out of, Member States. As a global policy leader, the EU influences international wildlife trade significantly.

Pushing wildlife trade up the agenda at Cali CoP

Under a European Commission contract, TRAFFIC produced the first EU Wildlife Trafficking Action Plan (EU WAP) monitoring progress report and the 2025 EU Wildlife Seizures report. These were shared via webinars with over 300 participants, including EU CITES authorities, Commission departments, law enforcement agencies, NGOs and researchers.

TRAFFIC fostered dialogue between the EU CITES and EU DeforestationFree Regulation (EUDR) authorities, supporting Member States in preparation for its implementation.

At CoP16 of the Convention on Biological Diversity, TRAFFIC successfully raised the profile of wild species trade - central to Targets 5 and 9 of the Global Biodiversity Framework. Through briefings, stakeholder engagement, and input to the Collaborative Partnership on Sustainable Wildlife Management (CPW), gaps were acknowledged on trade in wild species, which will need to be addressed. Outcomes included key decisions recognising the importance of wildlife trade under CPW and a Global Action Plan on Biodiversity and Health.

In support of the Environmental Crime Directive (ECD), TRAFFIC co-hosted a high-level European Parliament event with UNODC, WWF, and the Spanish Guardia Civil , attended by senior EU officials and agencies including Europol, Eurojust, and the French Gendarmerie, the private sector and civil society. The event underscored the need to prioritise environmental crime in the next EU budget and ensure effective ECD implementation.

TRAFFIC’s 2025 EU-TWIX data analysis supported investigations, contributed to strategic analysis and operational investigations including Europol’s EU policy cycle EMPACT, and informed national enforcement priority setting.

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Image: A juvenile Orangutan rescued from a trafficking gang in Malaysia - an example of wildlife crime convergence that cuts across criminal, biodiversity, and sustainable development issues. © YIARI

Tackling crime convergence: uniting against nature crimes

Wildlife trafficking doesn’t happen in isolation - it’s part of a global criminal web fuelling drug smuggling, money laundering, and corruption. TRAFFIC’s work on crime convergence is exposing these connections and helping enforcement agencies respond in smarter, more coordinated ways.

This year TRAFFIC published reports highlighting how wildlife trafficking converges with illegal logging, mining, and drug trafficking in Brazil, Cameroon, Indonesia and Vietnam. These reports informed concrete, evidence-based recommendations on how and where to focus future research and capacity-building efforts across these countries. These outputs provide a strong foundation for coordinated action against conservation crimes at both national and regional levels.

This approach not only protects endangered species but also helps dismantle wider criminal enterprises that threaten security, economies, and communities worldwide.

As recognition of convergence grows, our evidence-based insights are shaping a new generation of integrated crimefighting strategies for people and planet.

Guidelines for ensuring sustainable CITES harvesting

TRAFFIC, in collaboration with German government agency BfN and other partners, is working to protect CITES listed perennial plants and tree species, including those in Central Africa’s Congo Basin by providing guidance and a training tool for sustainable trade.

Workshops were held in Ghana, Cameroon, along with regional workshops in Latin America and West Africa where scientists and CITES authorities were trained to determine sustainable levels of international trade in plants and timber.

During the workshops, participants were taught to develop robust science-based ‘Non-Detriment Findings’ (NDFs) guided by a practical 9-step tool to assess whether timber exports would be sustainable. The initiative aims to ensure that communities continue to benefit from legal, sustainable trade as far as possible, balanced with longterm forest sustainability and compliance with international regulations.

This guidance can be applied anywhere to identify and ensure sustainable harvest and trade of CITES-listed perennial plants and tree species

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PRIORITY AREA 2

NATIONAL POLICY AND REGULATION

An international alliance to beat crime - TWIX

A powerful collaboration of law enforcement teams is proving effective in fighting back against illegal wildlife crime.

TWIX (Trade in Wildlife Information Exchange) is a unique mechanism for international cooperation which helps law enforcement stay one step ahead of global criminal networks who are plundering nature for profit.

Established in 2005 by Belgian agencies and TRAFFIC, it now connects over:

officials from 39 European countries 1,500

Furthermore it has spread across Africa, with a total of five regional TWIX platforms facilitating regular communication between international enforcement agencies, connecting 1,671 individuals across the continent, and proving highly effective in helping disrupt transnational smuggling networks.

During the last year, the West African TWIX was launched, connecting 140 new law enforcement officers across 57 agencies. In Southern Africa, a new mobile app was rolled out to give agents real-time access in the field.

Interpol’s Operation Thunder in February 2025, involving TWIX users based in West Africa and beyond, led to nearly 20,000 live animals being seized .

“ The TRAFFIC TWIX platform for networking across law enforcement, and the recent expert training in how to address the illegal wildlife trade provided by TRAFFIC staff, were very useful to us during Operation Thunder.

Anonymous Senior Law Enforcement official and TWIX user, West Africa

© INTERPOL Ps

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Image: Police representatives attend a TRAFFIC wildlife identification and regulation training workshop in Moshi, Tanzania. © Sam Obae / TRAFFIC

Upskilling police in Tanzania

The illegal wildlife trade (IWT) has traditionally not been part of mainstream training for police officers in Tanzania, meaning they do not always have the required knowledge, skills, or tools to tackle wildlife trafficking.

TRAFFIC has worked with authorities to embed IWT training into police training

curricula, so it is rolled out to law enforcement officers at scale, and the initiative remains sustainable. In Tanzania, illegal wildlife trade modules are now embedded in the curriculum of five police colleges, including one dedicated to wildlife crime investigation – emphasising stronger management of the chain of custody for wildlife crimes.

295 10,000 70% officers have police cadets have improvement on been trained been upskilled knowledge on IWT

“ I never used to take wildlife seriously - I saw them mainly as food, but now, after understanding how vulnerable they are and the constant pressure they face for human gain, I feel a deep sense of responsibility. If we don’t act, future generations may only know these animals through pictures, as they risk becoming extinct. Anonymous Police Officer, Tanzania

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Image: TRAFFIC staff with winners of the “Wildlife Sentinel” awards in the Philippines. © Elizabeth John / TRAFFIC

‘Wildlife Sentinels’ in successful Philippines wildlife busts

Over the span of just a few days, law enforcement in the Philippines took down two different online sellers offering protected wildlife, highlighting how social media has become a marketplace, but one that’s being watched.

In early May in Cubao, Quezon City, two individuals were caught trying to sell endangered Sulcata tortoises; a popular exotic pet that is illegal to trade without permits. Just two days later in Pasay City, a man was arrested after offering 10 live cockatiels for sale via Facebook.

Winners of the TRAFFIC-led Wildlife Sentinel Awards (WiSe) 2024 were amongst the individuals and units involved in the seizures.

The WiSe Awards were established to recognise and support outstanding efforts to tackle wildlife crime in the Philippines.

Image: Saiga Antelope populations in Central Asia have recovered thanks to conservation action.

© Navindah Singh

Digital wildlife defenders

Kyrgyzstan has launched a powerful new electronic database to help law enforcement combat wildlife trafficking.

Developed with TRAFFIC and Fauna & Flora, the tool enables agencies to verify permits, identify species, and share smuggling data. Training sessions have upskilled law enforcement staff – some of whom had previously not known about legislation governing wildlife trade – and equipped customs and border officers to use the system effectively.

This initiative strengthens interagency cooperation and aims to protect Central Asia’s rich biodiversity, including endangered species like Saker Falcon and Saiga Antelope.

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Prosecutions and Using TRAFFIC’s sentencing increase datasets to leverage in Madagascar wildlife wins The number of wildlife trade related court sentences in line with the Data on illegal and unsustainable wildlife trade is one of law has increased fourfold since training began at law enforcement TRAFFIC’s most valuable assets. TRAFFIC’s Wildlife Trade colleges. Information System (WiTIS) is our secure database containing records of thousands of incidents involving poaching, wildlife TRAFFIC worked with Madagascar authorities to embed a training seizures, and other law enforcement actions, in addition to module on illegal wildlife trade (IWT) in the curricula of four law market monitoring and actionable information. enforcement training colleges. Over the four years of the project, which concluded in 2025: 60,000 incident records are 132% 300% registered in WiTIS increase in rise in sentencing prosecutions in line with the law WiTIS contains over 60,000 incident records. It is used by TRAFFIC staff to support work mapping wildlife crime incidents, trade routes, Traditionally, wildlife law enforcement in Madagascar has been and patterns, and supporting our work on species including sharks, reactive and focused on low-level offenders. Most judges and fish maws, pangolins, timber, and rhinos. prosecutors did not view wildlife trafficking as transnational organized crime. As a result, criminal proceedings usually targeted During this past year, the data underpinned analyses which carriers and intermediaries while buyers and final beneficiaries informed national and regional enforcement strategies, cross-border were rarely charged. Few criminal investigations focused on modus cooperation, and conservation priorities, including judicial responses, operandi, corrupt facilitators, or financial transactions. forensic capacity-building, and forest governance. TRAFFIC’s work in Madagascar sought to foster a common TRAFFIC publishes a majority of this data on the Wildlife Trade Wildlife Trade understanding around the severity and drivers of IWT, and around Portal – the world’s most comprehensive open-access repository – the world’s most comprehensive open-access repository how to best prevent, investigate, and prosecute these offences. of wildlife seizure data. Important progress has been achieved by promoting regulatory The Wildlife Trade Portal now boasts 3,100 users from 138 countries change and ambitious criminal policies, and by building the capacity around the world. During the last year, the underlying Portal data has of investigators, prosecutors, and judges towards intelligence-led seen a significant increase, with 5,000 new incident records bringing prosecutions focusing on high level offenders. the total record count to 39,000. 1,800 export files were downloaded in the past year - a 37% increase from the previous year - helping ' target enforcement actions against key illegal wildlife trade actors. From setbacks to 15% 3,150 sustainable success

The number of wildlife trade related court sentences in line with the Data on illegal and unsustainable wildlife trade is one of law has increased fourfold since training began at law enforcement TRAFFIC’s most valuable assets. TRAFFIC’s Wildlife Trade colleges. Information System (WiTIS) is our secure database containing records of thousands of incidents involving poaching, wildlife TRAFFIC worked with Madagascar authorities to embed a training seizures, and other law enforcement actions, in addition to module on illegal wildlife trade (IWT) in the curricula of four law market monitoring and actionable information. enforcement training colleges.

WiTIS contains over 60,000 incident records. It is used by TRAFFIC staff to support work mapping wildlife crime incidents, trade routes, and patterns, and supporting our work on species including sharks, fish maws, pangolins, timber, and rhinos.

During this past year, the data underpinned analyses which informed national and regional enforcement strategies, cross-border cooperation, and conservation priorities, including judicial responses, forensic capacity-building, and forest governance.

TRAFFIC publishes a majority of this data on the Wildlife Trade Wildlife Trade Portal – the world’s most comprehensive open-access repository – the world’s most comprehensive open-access repository of wildlife seizure data.

The Wildlife Trade Portal now boasts 3,100 users from 138 countries around the world. During the last year, the underlying Portal data has seen a significant increase, with 5,000 new incident records bringing the total record count to 39,000. 1,800 export files were downloaded in the past year - a 37% increase from the previous year - helping target enforcement actions against key illegal wildlife trade actors. 15% 3,150 increase in regular users from incident records 138 countries

In 2021, 185 endangered baby giant tortoises were found hidden in a suitcase at Galápagos Ecological Airport (ECOGAL), bound for illegal trade. Ten had already suffocated. While the seizure was a success, poor coordination and lack of training meant crucial evidence was mishandled, weakening the legal case and jeopardising justice being carried out.

The Portal has been used for a wide range of tasks to combat illegal trade and promote sustainable practices, including research projects, policy and prioritisation work, disease risk assessments and money laundering detection.

This situation sparked action. ECOGAL supported by TRAFFIC and local authorities have developed a new Chain of Custody Protocol to ensure future wildlife crimes uncovered in the Galápagos – one of the world’s most unique ecosystems - are properly handled. The protocol outlines clear roles, evidence procedures, and provides training for airport staff and law enforcement, reinforcing coordination between institutions.

“ As Deputy Director of Sri Lanka Customs and a WCO-accredited expert on Illegal Wildlife Trade, I have found the Wildlife Trade Portal to be a critical tool that directly supports both enforcement operations and capacity-building efforts.

Now officially adopted, it strengthens the islands’ ability to protect biodiversity. Captain Sebastián Espinoza, Chief, National Environmental Police Protection Unit, said: “This protocol is of vital importance, providing the necessary tools to confront crimes against wildlife and guarantee the protection of species.”

Hasantha Kaushalya, Deputy Director of Sri Lanka Customs

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PRIORITY AREA 3

EMPOWERING COMMUNITIES

Assuring the future survival of African Geranium

Pelargonium sidoides , known as African Geranium, is native to South Africa and Lesotho. It’s widely used in herbal medicines and plays a vital role in supporting local livelihoods. However, rising global demand has led to localised overharvesting, threatening the plant’s survival in key areas.

To address this, TRAFFIC collaborated with the Pelargonium Working Group -led by South Africa’s Department of Forestry, Fisheries and the Environment and including industry, NGOs, and communities - to update the Biodiversity Management Plan for Pelargonium sidoides . This plan promotes sustainable harvesting, fair access and benefit-sharing.

TRAFFIC prepared guidance for the Government to determine sustainable harvest levels in the form of a ‘nondetriment finding’, and a benefit-sharing analysis of arrangements in place for the African Geranium industry in South Africa.

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collectors trained on sustainable harvesting techniques

The updated Biodiversity Management Plan outlines 14 priority conservation actions and will be ‘gazetted’ (i.e. accepted) into law in South Africa in 2025. A key goal is to strengthen collaboration between South Africa and Lesotho to ensure the species is managed sustainably across borders.

This is a success story in sustainable trade that benefits people and nature. With strong support from all stakeholders, TRAFFIC’s contributions ensure that Pelargonium sidoides can continue to provide health benefits and economic value without risking its future.

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Images: Constantiono was once one of Tanzania’s most wanted poachers. Now, he works as a welder, is on the local hospital board, and works with communities throughout the Kwakuchinja corridor to support the development of alternative livelihoods.

“All I came out with were scars and wounds”

After 15 years of poaching in Tanzania, Constantiono Martin walked away with nothing but scars and regret. He had lost friends to dangerous hunts and lived in poverty despite years of illegal poaching for wild meat. When a friend was arrested and shown a list of Tanzania’s most wanted poachers- including Constantiono- he decided to turn himself in. “I wasn’t born to be a poacher,” he said.

Today, Constantiono runs a welding garage and serves on the purchasing committee of his local hospital. He’s now using his story to discourage others from poaching, as part of TRAFFIC’s campaign to reduce illegal wild meat consumption in the Kwakuchinja Wildlife Corridor, a vital link between Tarangire and Lake Manyara National Parks.

TRAFFIC’s behaviour change campaign, delivered through local partners COSITA and ABC Bros, reached over 227,000 people through posters, radio broadcasts, workshops, and community events. It focused on educating communities - especially women - about the health risks of handling and eating illegal wild meat and promoting alternative livelihoods like bead-making, farming, and small businesses.

The impact has been significant. As well as shifting consumption and employment trends, women have gained confidence and skills to advocate against poaching.

It’s a great model for how storytelling, education, and community engagement can transform lives and protect wildlife.

99% of individuals reported not consuming illegal wild meat during the past year

76% noted a shift towards sustainable income sources

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Searching Nepal for its high-altitude gold

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NEPAL
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Each May local villagers embark on an annual trek to the high pastures of Nepal’s Dhorpatan Hunting Reserve to harvest Yarsagumba Ophiocordyceps sinensis - an elusive caterpillar fungus known as “Himalayan gold.”

Found at altitudes above 4,000 metres, the fungus is prized in traditional Chinese medicine and is considered a candidate to boost immunity, fight cancer, and improve gut health.

100k

hectares are undergoing ecosystem restoration activities

Yarsagumba harvesting regions: directly supporting communities in both sustainable harvest and trade Additional species: the same approaches being applied to the harvest of species such as Jatamansi

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Community Forest user groups are being supported

Image: A local collector shows off one of her finds following a day searching for Yarsagumba.

© ANSAB

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A remote and arduous climb in search of hidden treasure

Collectors endure freezing temperatures, thin air, and steep terrain, often praying at stone shrines for luck. Spotting the tiny mushroom tip of Yarsagumba is a moment of joy. Its value depends on size and colour, with larger, reddish specimens fetching higher prices. Yet the search is unpredictable - some days yield none, others up to sixteen.

For remote communities, especially women who are the primary collectors, Yarsagumba is a vital source of income for the entire year ahead. Earnings provide food, education, and religious donations, which enhance social status and community bonds.

But challenges abound: villagers report finding Yarsagumba harder to find, legal misunderstandings around collection rules have hurt traders, and traditional knowledge is fading as youth migrate. In response, communities are forming trading groups and exploring cultivation.

Restoration, training, and equitable-access

TRAFFIC, and our partners ANSAB and FECOFUN, are supporting legal and sustainable trade in Yarsagumba through a five-year project to

support sustainable harvesting of medicinal plants and fungi in the Himalayas, plus ecosystem restoration across 100,000 hectares.

Other key medicinal plants targeted by this project include the CITES-listed Jatamansi Nardostachys jatamansi – an aromatic herb used in traditional medicine, cosmetics and incense, valued for its fragrance and potential to treat various ailments. The Jatamansi industry was valued at USD 493 million in 2023.

Currently in Year 2, the project has already established a network of forest officers and trained local people across 10 priority districts of Nepal. Capacity building and training of around 350 Community Forest User Groups is taking place to help them manage their wild resources sustainably, including Yarsagumba.

Meanwhile, villagers continue their annual pilgrimage, balancing tradition with modern pressures. Each tiny fungus carries the hope of survival - and the preservation of a way of life nestled in Nepal’s mountain peaks.

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: search for Yarsagumba on Himalayan ~
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PRIORITY AREA 4

WORKING WITH THE PRIVATE SECTOR

Action with eBay to stop illegal online plant trade

To help protect native succulent plants in South Africa, TRAFFIC organised a training course for eBay employees to help them spot plants poached from the wild and sold illegally online.

Beautiful and characterful ornamental plants – which often grow in one single place on earth where they are critical to biodiversity - are in huge demand by house-plant lovers everywhere, and sell online in their millions .

But what most online plant consumers don’t realise is that they are likely to be buying into crime, biodiversity loss and environmental destruction. TRAFFIC’s work revealed that ornamental plant trade has increased exponentially with many species illegally harvested from the wild – to the extent that some species are wiped out in single poaching events.

TRAFFIC and Royal Botanic Gardens Kew provided advice to help enforce eBay’s Prohibited and Restricted Items Policy, including the Plants and Seeds

Policy, via virtual training for eBay staff monitors.

In its 2024 Impact Report, eBay states it ‘blocked or removed one million item listings prohibited under our Animal and Wildlife Products Policy’.

“ Collaborating with TRAFFIC, the world’s leading NGO tackling illegal wildlife trade, and the Royal Botanical Gardens, Kew, we strengthened protections to prevent illegal succulent and plant trafficking and expanded domestic shipping restrictions for plants and seeds from the U.S. and Australia to the EU and U.K.

eBay Impact Report

eBay’s impact report continues:

“TRAFFIC and RBG Kew also offered a virtual workshop for approximately 50 eBay employees that increased their ability to identify and block sales of protected plants.”

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Chinese businesses shift to legal, sustainable timber

Image: Lion products were one of i * many illegal wildlife commodities ws 7, Maus found on online commerce platforms.

Building expertise in online market monitoring

With illegal online wildlife trade surging, TRAFFIC has refined its monitoring methodologies, producing its most comprehensive dataset to date. This year, 890 suspect posts were documented across Africa, with one-third flagged as high priority due to conservation and trafficking risks. These records helped identify critical species and trade routes, directly informing enforcement and policy. Data was shared with law enforcement and sales platforms to enable them to take action.

Threatened species like pangolins, lions, and African grey parrots were found on Facebook, TikTok, and Jiji, offering actionable intelligence. In East Africa, monitoring data supported real-time enforcement operations. AI and Natural Language Processing tools streamlined data processing, improving efficiency and uncovering hidden content.

TRAFFIC engaged directly with companies including Afribobo and Afribaba and delivered a virtual training session to Alibaba Group in March 2025. Afribobo has since set up filters that prevent protected wildlife species from being advertised on its platforms and joined the Coalition to End Wildlife Trafficking Online.

The proportion of legal and sustainable timber imported to China from Congo Basin countries has increased significantly in the last year.

China is a major market for timber from the Congo Basin – the world’s second biggest rainforest. China’s new Forest Law states an ambition that Chinese companies sustainably and legally source timber. But a lack of timber legality verification tools is hampering efforts to correctly identify illegally sourced or restricted timber throughout global supply chains.

TRAFFIC has been working with the China Timber & Wood Products Distribution Association (CTWPDA) to strengthen its Code of Conduct and co-develop a Corporate Social Responsibility Guide. Both these were promoted to members through training, and at CTWPDA’s conference in September 2024.

In an encouraging development, the proportion of timber imported to China from Congo Basin countries that has been verified to be legal by CTWPDA members increased from 49.1% to 65.7% over the last year.

65.7%

of timber imported into China from the Congo Basin is now verified as legal - up from 49.1% the year before

238 companies have been verified as implementing the Code of Conduct, as part of qualifying for CTWPDA membership. In-depth interviews with timber companies in China confirmed a clear awareness of timber legality issues and core CSR topics, while identifying that some implementation gaps remain. These results highlight the critical need for continued support and advanced operational guidance.

“ Our platform plays an important role in connecting people and opportunities across the region. But with that opportunity comes responsibility. We are proud to be taking this step with the Coalition and TRAFFIC to help protect Africa’s rich wildlife from exploitation online.

Jules Ndam, Founder and CEO of Afribobo

TRAFFIC has developed, and hosted on the Coalition website, an online module for the training of law enforcement personnel in Africa, focussed on monitoring, investigating and prosecuting illegal wildlife trade crime online.

TRAFFIC’s advocacy led to 21Food removing 29 adverts for 15 threatened species.

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PRIORITY AREA 5

RESPONSIBLE CONSUMPTION

China and Vietnam join forces for sustainable traditional medicine

Traditional medicine practitioners across Asia have long sought to reconcile traditional knowledge and wildlife conservation, particularly regarding consumption of medicinal ingredients from endangered species, such as rhinos and pangolins.

Now, a groundbreaking cross-border partnership between China and Vietnam has forged a path to eliminate reliance on endangered wild species in traditional medicine, while advancing sustainable and ethical practices.

TRAFFIC’s initiative, aimed at reducing demand and consumption of rhino horn, provided the technical framework necessary to make this collaboration a reality.

conservation of wild medicinal plants, and discussed development of sustainable alternative ingredients.

As a result, in May 2025 in Beijing, the two leading traditional medicine associations from China and Vietnam, the China Association of Traditional Chinese Medicine (CATCM) and the Vietnam Oriental Traditional Medicine Association (VOTMA), signed a Memorandum of Understanding (MOU) to promote conservation-oriented healthcare.

Following the signing of the MOU, the VOTMACATCM cooperation led to reciprocal visits by members and participation in traditional medicine events, setting the stage for further research collaborations.

During this year, TRAFFIC brought together 100 Vietnamese and Chinese traditional medicine experts, first in Hanoi, Vietnam, and subsequently in Beijing, China. The experts visited research facilities and pharmaceutical companies, exchanged knowledge on

Through a shared commitment to public health, biodiversity conservation, and responsible trade, the partnership offers a powerful regional model for sustainable traditional medicine and contributes to global biodiversity conservation.

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Rhino poaching falls but populations still at risk

In some limited, but much-needed, good news for rhinos, data from TRAFFIC and partners revealed that poaching levels in Africa had fallen to their lowest levels in over a decade.

However, set against this, global population numbers declined, with white rhinos at a near 20-year low, highlighting the need to tackle this devastating illegal trade across the entire supply chain, all the way through to reducing demand.

Illegal trade in rhino horn has declined since its 2019 peak, but the threat remains. Between 2021 and 2023, over 750 seizure records

were logged globally, totalling an estimated 1.8 tonnes of horn - the equivalent of 716 whole horns.

To tackle demand, TRAFFIC

facilitated a historic pledge in Hanoi and an MoU in Beijing between Traditional Medicine associations in China and Vietnam, committing to promote legal and sustainable practices. Future initiatives may

include joint research, practitioner training, and industry standards. In Vietnam, TRAFFIC delivered targeted campaigns to reduce

demand among traditional medicine practitioners, pharmaceutical companies, and transport businesses - addressing rhino horn use as both a supposed ‘remedy’ and status symbol.

TRAFFIC continues to play a leading role in monitoring illegal rhino trade, producing reports and developing an interactive online tool to make findings accessible to policy makers. Insights informed the outcome document from the CITES Rhinoceros Enforcement Task Force, strengthening global enforcement responses. TRAFFIC also contributed to South Africa’s Biodiversity Management Plan for Black and White Rhinoceroses, supporting a strategic national approach to rhino conservation.

Together, these efforts are helping shift the story for rhinos - from exploitation to protection.

Images: (Top) A Black Rhino in the Maasai Mara National Reserve, Kenya. (Middle) an installation at an event aimed at reducing the demand for rhino horn. (Background) A seller in Hanoi displays a bowl used for grinding rhino horn into powder.

© (Top) Richard Edwards

© (background) Robert Patterson

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DEEP DIVE:

OCEANS AND MARINE LIFE

“ Our Ocean defines our Planet. It sustains us and is home to more than half of life on earth today. Sir David Attenborough, World Oceans Day

Sir David Attenborough continues to propel the health of our oceans into the world’s consciousness. His words were played to 90 Heads of State at the opening of the UN Ocean Conference which took place in France in June 2025.

Yet in the UN’s 2025 report on progress towards the Sustainable Development Goals, ‘overfishing’, along with ‘illegal, unreported and unregulated fishing’, are referred to repeatedly as major threats to our oceans.

This year TRAFFIC has made great strides forward in strengthening evidence and partnerships to support stronger international frameworks protecting highly endangered marine species, such as deepwater sharks, abalone and sea cucumbers.

< surveys his catch off Kenya’s coastline MS SS .

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With more than a third of sharks and rays threatened with extinction, largely due to overfishing, TRAFFIC is part of a core team that launched the new Global Coalition to Halt Shark and Ray Extinction at the UN Oceans Conference in Nice, 2025.

Championed by the government of France, together with TRAFFIC, the IUCN Species Survival Commission,

and WWF, the Coalition calls for concerted and high-level action.

Nine ‘early champion’ governments, including lead government France, Australia, Ecuador, Maldives, Malta, Panama, Republic of Congo, Spain and UK, endorsed the international call to halt extinction of sharks and rays, together with more than 80 civil society organisations.

Coalition goals:

Bringing Gulpers back from the brink

This year TRAFFIC teamed up with other experts to put critically endangered deepwater Gulper sharks onto the international agenda.

This was achieved through engagement at the CITES Animals and Standing Committees in July 2024. The team provided data on the plight of Gulpers , convincing CITES Parties to request further information on catch, trade and management. This supported countries subsequently proposing them for listing on CITES appendices (which would restrict international trade of Gulpers).

This engagement was successful and resulted in a listing proposal submitted for CITES CoP20 (November 2025), co-sponsored by Brazil, Comoros, Dominican Republic, Ecuador, European Union, Lebanon, Nigeria, Panama, Senegal, Syrian Arab Republic, United Kingdom of Great Britain and Northern Ireland.

Also as a result of deliberations at CITES Animals Committee, the EU and UK submitted a paper to CoP20 to consider any further action required to secure a sustainable future for Deepwater Sharks and Rays.

11 of 15 Gulper species are now threatened

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;,4@‘ ,Py?} ié ak: .be Image: Powe Wild abalone harvesting 4) off the South African coast. { 1} Ais ay © Longshot Productions / TRAFFIC “ha,

Sea cucumbers, abalone, sharks, and fish harvested for their swim bladders (fish maw) are among the ocean’s most commercially sought after species . But relentless demand - especially from East Asian markets - is depleting their populations to critical levels.

TRAFFIC is leading the charge to stop this. Through cuttingedge research, innovative tools, and frontline training, we’re equipping authorities across Africa to detect, disrupt, and dismantle illegal marine trade networks.

New intelligence, new action

For many years TRAFFIC has provided in-depth analysis of the trafficking in South African Abalone , including robust estimates of poaching levels. Our findings directly informed the development of South Africa’s first National Strategy and Action plan on abalone - a comprehensive policy and planning tool for government, civil society, and the private sector.

Shark Fin identification goes global

Our 3D replica shark fins are transforming species identification. Since launch, they’ve been downloaded 266 times by governments, CITES Authorities, universities, NGOs, and private companies. This year, we trained officials from Nepal, South Africa, and Sri Lanka, helping them quickly identify endangered species and intercept illegal shipments.

The full 3D scan set is being used by organisations globally, downloaded over

260 times

Images: (Left and right) Customs and fisheries management officers are trained in shark fin species identification. (Middle) TRAFFIC’s 3D replica shark fins are used to identify illegal shark fins during a seizure in South Africa.

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Sea Cucumber protection expands

Sea cucumbers are threatened by illegal harvest and trafficking. Without adequate identification materials law enforcement are unable to distinguish threatened and CITES listed species and cannot ensure compliance with fisheries and trade laws.

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To address this challenge, TRAFFIC developed simple and intuitive field ID guides and conducted sea cucumber ID training for 75 law enforcement officials in Kenya, Tanzania and South Africa. The guide has been translated into French, Malagasy, and Portuguese, and is now in use across the Western Indian Ocean

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Image: An illegally-caught sea cucumber -
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enforcement officers are already using our Guide to combat illegal sea cucumber trade

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----- Start of picture text -----
QUICK ID GUIDEthreatened : “be used anywhere! When I say anywhere, The guides are portable – they can
sea cucumber species
of zanzibar it means they are, they can, they can be
accessed on the sea when you’re doing
patrols, at the port, at the borders.
a John Barasa, Captain,
en
‘ Kenya Fisheries Service
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=
Image: TRAFFIC staff test ,
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Kenya’s ornamental fish trade

A colourful path to coastal prosperity

TRAFFIC’s research into Kenya’s marine ornamental fish trade spotlighted a vibrant but underregulated sector, which threatens biodiversity.

Supplying global hobbyists with iconic species like clownfish, popularised by animated marine sensation Nemo, the trade supports hundreds of coastal collectors and generates essential national revenue for local development.

Yet behind the beauty lies risk: reef degradation, diver safety concerns, and a 1,133% discrepancy between Kenya’s reported exports and importer records.

TRAFFIC’s research exposed these gaps and positioned our experts as key

technical advisors in the development of Kenya’s newly-launched Marine Aquarium Fishery Management Plan.

Now a member of the national committee overseeing implementation and reforms, TRAFFIC is helping shape a future where ornamental fish collection is safe, sustainable, and equitable.

With better data, diver training, and science-based governance, this trade can continue to support livelihoods, empower coastal communities, and protect Kenya’s marine biodiversity.

This is already helping ensure that the magic of reef life remains not just in aquariums, but in the oceans where it belongs.

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31 a
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LOOKING FORWARD TO THE YEAR AHEAD

” : : — ateee s < © - 4otek Through around 80 projects, we’re mobilising our global network to protect wildlife, empower communities, and ; = a reshape trade systems for a more sustainable future across : - the five Priority Areas to drive impact and deliver our rs

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Highlights include:

Using data and analysis to inform government decisions, especially around the CITES 20th Conference of Parties (CoP20). ~~ee~~

Strengthening cross-border law enforcement and collaboration to combat transnational wildlife crime and crime convergence.

Enhancing detection and traceability of illegal timber through technology, training, and capacity building across continents, whilst strengthening legal and sustainable timber supply chains.

Driving action to protect highly endangered marine species, such as deepwater sharks, from illegal and unsustainable fishing.

Supporting communities in Nepal, Cameroon and South Africa to develop sustainable livelihoods and promote legal trade in wild plants, fungi, and timber.

Partnering with transport, aviation, postal, and online sectors to improve detection of, and prevent, illegal wildlife trade.

Changing consumer behaviour through evidence-based campaigns and partnerships including with traditional medicine practitioners.

Investing in better data systems, AI tools and training to help make smarter, faster decisions.

The FY26 Workplan defines TRAFFIC’s annual priorities.

Objectives and project activities span our Programme Thematic areas (Fisheries, Forestry, Social and Behaviour Change, Wild plants) as well as the Thematic cross cutting areas (Data and Research, Law Enforcement, and Policy).

The projected proportion of activity and expenditure across each Priority Area for FY26 is broadly similar to FY24 and FY25. Improving effectiveness of national policy and regulations (Priority Area 2) has the largest proportion of the projected FY26 budget expenditure and accounts for over half of all activities in the FY26 workplan. Working with the Private Sector (Priority Area 4) also forms a significant part of our portfolio alongside strengthening International Frameworks (Priority Area 1). We have secured funding to undertake exciting new work on Empowering Communities (Priority Area 3) as well continuing to be a global leader in Responsible Consumption (Priority Area 5).

We have ambitious fundraising objectives to raise funds to deliver exciting new programmes of work, and to continue diversifying our funding portfolio to respond to the trend of declining overseas development assistance from national governments. As we approach the halfway point of our 2030 Strategy we will be reviewing and reflecting on progress and what we have achieved to date and adaptive management required.

ween 2 ge Sky = we tie =. : nce 33 33

FINANCIAL REVIEW

INCOME

During the year, TRAFFIC received income totalling £12.0m, a reduction of £0.2m (2%) compared to the previous year. This was attributable to a reduction in restricted income following the suspension and termination of a number of funding agreements in January 2025 by the new US government administration. Work has subsequently been resumed in the majority of affected projects, which helped to partially mitigate the impact in FY25.

As a result of the above actions by the US government, restricted income at £10.2m represented a decrease of £1.1m (10%) by comparison with FY24. In spite of this, US government funding

still represented 39% of restricted income during the year and 33% of total income (FY24 50%). While government agency funding is likely to remain the largest source of income in the foreseeable future and is crucial in enabling the work of TRAFFIC, the organisation continues to diversify and expand its income from other sources to help ensure robust funding for the future.

Unrestricted income for the year increased by £0.9m to £1.9m. This was the result of receiving £1.0m from Arcadia as part of a five year grant agreement signed during the year to support the organisation’s 2030 strategy.

EXPENDITURE

Expenditure during FY25 at £12.9m was £0.6m less than in FY24. 98% related to expenditure on Charitable Activities and 2% on raising funds, the same ratio as in the previous year.

Restricted expenditure was £1.5m (12%) less than in the previous year, this being also mainly attributable to the impact of the US government stop work orders.

Unrestricted expenditure of £2.4m represented an increase of £0.9m compared to FY24. This was mainly due to the disruption on US government projects in particular as staff were not able to spend the time planned on these projects and as a result £0.6m less staff time was cost recovered from restricted fund projects than in FY24. There was also an increase in professional fees of £0.15m mainly related to support to help with financial planning and restructuring required (as referred to below) following the US government notifications.

Overall the organisation’s staff costs for the year were unchanged. Although the staff retrenchment referred to above resulted in a significant reduction of ongoing staff costs, because this took effect shortly before the end of the year it didn’t result in such significant savings within FY25 and these were in any case offset by redundancy costs of £115k.

There was an unrestricted foreign exchange loss of £130k (FY24 £124k loss). These losses relate to the reduced value in GBP of foreign currency bank account holdings held mainly for restricted fund projects where any exchange losses that materialise are not recoverable. TRAFFIC regularly reviews its foreign currency management to mitigate foreign exchange risk where possible and considers foreign exchange risk when setting its reserve policy.

FUNDS

The deficit of £0.8m for the year compared to a deficit of £1.2m in FY24 previous year. This year’s deficit comprised an unrestricted deficit of £0.4m and a restricted deficit of £0.4m.

As a result unrestricted funds reduced from £2.1m to £1.7m. Free reserves at the end of the year (defined in this context as

unrestricted reserves less fixed assets) at £1.6m represent a little over 3 months of budgeted FY26 core expenditure. The plan per the FY26 budget is to restore free reserves by the end of FY26 to around the minimum of the reserves policy target range of 4 months to 6 months.

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RESERVES POLICY

TRAFFIC’S Trustees recognise the importance of establishing reserves to allow the Charity to respond to future opportunities and current global economic challenges, particularly for an organisation with levels of restricted funding significantly higher than unrestricted. The Trustees have set TRAFFIC’s free reserves fund target based on the following range: the equivalent of four months of the Charity’s planned annual core expenditure to be maintained at all times and a maximum amount equivalent to six months of the Charity’s planned annual core expenditure. TRAFFIC routinely models various scenarios to help evaluate the level of reserves that should be put aside to protect against risks such as drops in income, unexpected increases in costs, or, more

positively, to allow the organisation to take advantage of new opportunities.

Both the amount of free reserves held and the target itself are reviewed on a regular basis.

At year-end, the group had free reserves of £1.6m, equivalent to 3 months of planned FY26 core expenditure and we are budgeting to increase the free reserves back to around the minimum of the target range (ie. 4 months of core expenditure) by the end of FY26. Free reserves are defined as unrestricted reserves less fixed assets.

INVESTMENT POLICY

Under the Articles of Association, the Charity has the power to make any investment the Trustees see fit. The investment policy, as approved by the Trustees on 16th February 2005, is that funds will be invested in cash, bank current accounts, and bank deposits.

The Charity currently holds no investments aside from its cash holdings. The Trustees will consider possible amendments to this investment policy on a periodic basis.

GOING CONCERN STATEMENT

The decision by the US government to suspend and terminate a number of TRAFFIC’s projects in January 2025 had a direct impact on the organisation’s finances. In response, Trustees and Management took several steps to manage the impact of the confirmed loss of income and the continued uncertainty of the US review process.

First, the Trustees received legal advice regarding their duties in the event of charity financial distress and instructed BDO LLP (financial advisors) to review TRAFFIC’s financial position and consider the charity’s current and future liquidity, in accordance with Charity Commission guidelines. BDO reviewed different scenarios and concluded that the Charity faced no imminent risk of insolvency, while noting the volatile environment for the charity sector and recommending measures to ensure strong continued Trustee oversight and effective financial monitoring and reporting by Management.

Second, Management completed several actions to address the confirmed loss of income, including redeployment of affected staff to other donor-funded projects; mobilization of new funding from existing and new donors; reduction in discretionary core expenditures, such as travel; and completion of a staff

restructuring and redundancy process to reduce the number of staff and associated payroll costs to a level commensurate with the reduced size of the Charity’s operations.

Over the first six months of FY26, TRAFFIC’s financial position has further strengthened as a result of the continued disbursement of United States government grants that were expected to be cancelled, the receipt of additional donations, grants, and other revenue streams from new sources, and continued strong cost control measures.

The Trustees have confirmed the organisation’s ability to continue as a going concern due to implemented actions in FY25, strong income generation in FY26, detailed 18-months cash flow forecasts and funding sources projections, careful review and assessment of TRAFFIC’s projected financial position, and successful business risk management. The financial statements were prepared on this basis, as the charity can continue in operation for the foreseeable future and meet its obligations as they fall due. In making this assessment, the Trustees have not identified any material uncertainty in relation to TRAFFIC’s ability to continue as a going concern.

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PRINCIPAL RISKS

The Trustees recognise their role in the management and administration of the Charity and that directorship carries legal responsibilities and duties including a responsibility to assess potential risks facing the Charity. The Trustees note that the major potential risks in the areas of governance and management, operations, and finance are reviewed on a periodic basis and that systems have been put in place to minimise these risks both in the UK and overseas.

subcontracted to TRAFFIC branch and subsidiary offices to implement conservation activities overseas. TRAFFIC has well established guidelines on financial policies and procedures which are followed by TRAFFIC offices globally, including regular review of budgets, financial performance, and related financial management. In addition, TRAFFIC has an established monitoring and evaluation system in place which looks at overall programme delivery and individual project implementation against contracted project budgets and deliverables.

The nature of TRAFFIC’s conservation programme means that the bulk of funding dispersed through TRAFFIC’s UK office is

KEY RISKS AND UNCERTAINTIES

TRAFFIC’s risk framework focuses on the following four Principal risk main areas:

Any “high” risks identified, and the actions taken to mitigate them, are brought to the attention of the Board of Trustees. The Board’s Operations Committee reviews the risk register on a bi-annual basis and the Board of Trustees on an annual basis. The Board reviewed and updated the organisation’s overall risk policy in January 2022.

In line with Charity Commission requirements, TRAFFIC submitted an incident report to the Charity Commission on the loss of funding from the United States government sources and steps taken in response, as outlined in the Going Concern Statement. It is to be noted that no additional serious incidents were recorded over the past year.

SAFEGUARDING

TRAFFIC International takes very seriously its responsibility to protect people, including our staff, volunteers, partners, consultants, contractors, trustees and others affected by our work, from any harm that may result from coming into contact with our organisation.

As a wildlife conservation charity primarily involved in researching legal and illegal wildlife trade globally, and encouraging necessary action by governments, businesses, and others, TRAFFIC does not usually work directly with children or with adults who could be seen as at risk, nor does the

36

organisation carry out aid-funded relief work. TRAFFIC is aware that it is bound by the laws of the UK in respect of conduct both at home and abroad. The organisation and its staff are globally committed to acting professionally, fairly, and with integrity in our business dealings and relationships wherever we operate. This includes implementing and enforcing effective systems through a framework of policies including professional conduct, sensitive activity management, anti-bribery, and whistleblowing. TRAFFIC’s safeguarding statement can be found on our website. Overall, TRAFFIC has an effective framework for safeguards and a complaints mechanism is in place. TRAFFIC operates globally and in cooperation with a wide range of public and private sector partner organisations to carry out work related to people and their

use of natural resources. TRAFFIC recognises the importance of ensuring that our work does not have adverse social or environmental impacts at any level, and the need to incorporate these considerations both into the design and implementation of our activities and into the conduct of our staff and implementing partners. TRAFFIC also recognises the need for ongoing review of its existing frameworks and ongoing training both for TRAFFIC staff and implementation partners.

It is to be noted that no serious incidents were identified internally or reported via the External Complaints Mechanism over the past year.

ENVIRONMENTAL SUSTAINABILITY

TRAFFIC operates in multiple locations across several continents, managed from the global office in Cambridge, UK. TRAFFIC staff work under a variety of conditions in these strategic locations, from single individuals to larger groups, often hosted within an external organisation’s office.

TRAFFIC is a key member of the Cambridge Conservation Initiative (CCI) including as an active participant in CCI’s Sustainability Working Group with the 2020-2025 David Attenborough Building Sustainability Strategy and Environmental Sustainability Policy providing the basis for TRAFFIC’s Environmental Sustainability Policy (2021).

Global application of the TRAFFIC policy, which includes a number of elements (carbon reduction and energy efficiency;

purchasing and procurement; travel and transport; waste management; biodiversity and ecology; water use; and host collaboration and reporting), continues to progress slowly, because of difficulties in capturing and consolidating consumption data from offices in different countries to establish baseline data.

CCI tenants in the David Attenborough Building (DAB) have set themselves the same carbon reduction target (absolute zero by 2048) as the University of Cambridge for Scope 1 and 2 emissions, which relate to energy purchased for the building. TRAFFIC has a long-standing carbon offset programme as part of its carbon offset commitment. Based on its FY25 activities, TRAFFIC will contribute £2.6k in carbon offset on behalf of its Global Office in the UK and overseas branch offices.

FUNDRAISING

TRAFFIC is beginning to see tangible results from its efforts to diversify its funding base, with a reduced reliance on statutory funding and the successful addition of new trusts and foundations to its portfolio. Work to cultivate relationships with high-net-worth individuals (HNWIs) has also commenced and is expected to progress in the coming years.

In addition, TRAFFIC has explored alternative income streams, including participation in the ‘Big Give’ campaign, which leverages a multi-channel marketing strategy. While contributions from this initiative remain modest relative to overall income, it

represents a positive step toward broadening and strengthening the organization’s funding mix. There were no licensed street collections in the reporting period. We do not use commercial participators.

All Trustees are aware of the CC20 guidance from the Charity Commission and all our fundraising is conducted in line with CC20. TRAFFIC contributed to the Fundraising Regulator during the year in support of the Fundraising Code of Conduct. There have been no formal complaints concerning our fundraising practice during the reporting period.

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of TRAFFIC International for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the surplus or deficit of the charitable company and group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

AUDITOR

Each of the Trustees at the date of approval of this report confirms that:

of any relevant audit information and to establish that the Charity’s auditor is aware of that information.

This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

STRUCTURE, GOVERNANCE & MANAGEMENT

TRAFFIC was established in 1976 by the Species Survival Commission of IUCN (the International Union for Conservation of Nature), largely to support the implementation of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES is an international agreement between more than 180 governments that aims to ensure international trade in specimens of wild animals and plants does not threaten their survival. Over its first two decades of operation, TRAFFIC developed as a network of offices supported by IUCN and WWF and operated as a joint conservation programme of these two international conservation organisations. TRAFFIC International

was established in the UK and registered with the Charity Commission on 23rd July 1999 to provide a base for TRAFFIC’s global co-ordinating office.

In 2017, a decision was made by WWF, IUCN and TRAFFIC International to consolidate governance and management of TRAFFIC operations worldwide under the UK Charity; new Articles of Association were accordingly adopted in June 2017. In June 2018, the Trustees agreed to merge five overseas offices into the UK charity as branches from 1st July 2018. Revised Articles of Association were adopted in December 2024,

38

providing for a minimum of five independent Trustees and up to two Trustees each appointed by WWF and IUCN as founding members.

Since FY19, the TRAFFIC International accounts thus have incorporated Central Africa, East Africa, Southern Africa, China, Southeast Asia, and Viet Nam as branch or subsidiary offices. With Board approval, a China representative office and a Malaysian company registered by guarantee were established in FY20. Registered offices, again with Board approval, were established in Belgium and Tanzania in FY22.

All seven TRAFFIC entities are located in countries of key importance to wildlife trade and biodiversity conservation. The decision to register separately from TRAFFIC’s founding partners in four of those locations was influenced by increases in the scale of TRAFFIC’s presence and activities in each, an indication of TRAFFIC’s growth and maturity as an organisation.

charity in a legal sense.

The Board delegates day-to-day management of the Charity to Richard Scobey, Executive Director and Chief Executive Officer, who appoints the Senior Leadership Team, who, for the purposes of regulatory reporting, are collectively the Key Management Personnel along with the Trustees. The Senior Leadership Team develops strategies and plans for the Board to scrutinise and approve. It subsequently monitors and reports on performance against targets.

As provided for under TRAFFIC International’s Articles of Association, the Board has established an Operations Committee chaired by a Trustee with the delegated responsibility to review information on budgets, financial performance, organisational development and business risk and to provide advice and recommendations to TRAFFIC management and the Board of Trustees.

The affiliated office in Japan continued to operate as internal divisions of its WWF host and was not incorporated into the

TRUSTEES

The Trustees who served during the year, unless otherwise stated, were as follows:

Justin Mundy, Chair (appointed August 2024)

Mark Halle, Chair (completion of previous term August 2024, reappointed August 2025) Pam Davis

Viviana Figueroa Aban Marker Kabraji Alistair Monument Kavita Prakesh-Mani Heather Sohl (completion of term June 2025) Anthony Cowell (appointed January 2025)

Members of the Board of Trustees are directors for the purpose of company law and Trustees for the purpose of charity law. The company is limited by guarantee. Therefore, no Trustee had any beneficial interest.

APPOINTMENT OF TRUSTEES

The role of the Trustees is collectively, as a board, to ensure delivery of the Charity’s objectives, set its strategic direction, and uphold its values. Trustees have a fundamental and legal obligation to act in the best interests of the Charity, and in accordance with the Charity’s governing documents. The Trustees oversee the management and operation of the Charity subject to the provisions of the relevant acts (Charities Act 2011; Companies Act 2006 and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” second edition issued in January 2019) and the Memorandum and Articles of Association, and any directions

given by special resolution. TRAFFIC’s Trustees are drawn from within the broad umbrella of its partner organisations as well as the wider conservation community and bring together an extensive range of expertise in terms of programmatic, technical, financial and administrative skills. Terms of reference for the Board of Trustees (Directors) describe the responsibilities of the board and the role of key officers.

TRAFFIC’s conflict of interest policy notes that Trustees have a fundamental and legal obligation to act in the best interests of the Charity, and in accordance with the Charity’s governing

39

documents. Trustees who are employees of WWF and IUCN are further bound by the undertaking dated 17 September 1999 made on behalf of the two founding members of the Charity. This document, addressed to the Charity Commission, states on behalf of both organisations that TRAFFIC will function as an autonomous body and that neither WWF or IUCN will be able to define or restrict the activities of the Charity. Legally and professionally, Trustees therefore serve in a personal

and voluntary capacity and not as representatives of their organisations.

Trustees may serve for a maximum of two consecutive threeyear terms, unless an exception is approved by the Members. No Trustee who has served in office for six consecutive years shall be eligible for reappointment without a break of at least twelve calendar months.

TRUSTEES’ INDUCTION AND TRAINING

When an individual accepts an invitation to become a Trustee, as part of the induction process, he or she receives an initial induction pack and meets with a senior manager of TRAFFIC to review the contents of the induction pack and supplementary materials; review responsibilities of Trustees; review current financial situation and general funding sources; review TRAFFIC’s

organizational chart, and the Charity’s role in the larger TRAFFIC organisation; and review planned future projects and activities. They are regularly provided with financial and programmatic information as well as updates on relevant developments in the UK charity sector. Key documents are provided through a comprehensive governance manual.

REMUNERATION OF KEY MANAGEMENT PERSONNEL

The Trustees consider the Board of Trustees and the Senior Leadership Team comprise the Key Management Personnel of the Charity in charge of directing, controlling, and operating the Charity on a day-to-day basis. All Trustees give their time freely and no Trustee received remuneration in either year. Details of Trustees’ expenses and related party transactions are disclosed in Note 8 to the accounts. The Charity benchmarks remuneration of its Senior Leadership Team against comparable roles in other charities of a similar size and complexity, within a specified pay band. Each member of the Senior Leadership Team may receive an annual cost of living salary increase, which takes into account

inflation, changes in national average earnings and pay awards elsewhere in the charity or public sector. The award is made subject to affordability. Increases to the Executive Director’s salary that are above the annual cost-of-living salary increase are reviewed and approved by the Board of Trustees.

In FY25, as part of the effort to reduce personnel costs in response to the loss of income from the cancellation of US government grants, the Senior Leadership Team agreed on a voluntary basis to a temporary reduction in compensation; and no cost of living adjustment was provided to staff.

PUBLIC BENEFIT

TRAFFIC is a wildlife conservation charity whose vision is of a world where wildlife trade is managed in a way that maintains healthy wildlife populations and ecosystems; contributes to meeting human needs; supports local and national economies; and helps motivate commitments to conserve wild species and habitats.

The organisation’s efforts are therefore focused not only on conserving biological diversity but also on protecting and maintaining the many “ecosystem goods and services” that are or may be threatened by unsustainable or illegal wildlife trade. In reviewing TRAFFIC’s charitable objects and as part of planning and implementing our programme of work, the Trustees, have taken account of the Charity Commission’s guidance on public

benefit. The Trustees have considered how TRAFFIC’s work will consistently contribute to the Charity’s aims and objectives. TRAFFIC’s main areas of charitable activity are detailed throughout this report.

The Trustees’ report (which incorporates the requirements of the Strategic Report) was approved by the board on 14 January 2026 and signed on its behalf by:

Mark Halle Chair

40

ADMINISTRATIVE INFORMATION

TRUSTEES: Justin Mundy (Chair) Anthony Cowell (As of 30 June Aban Marker Kabraji 2025) Pam Davis Kavita Prakesh-Mani Viviana Figueroa Alistair Monument Heather Sohl

REGISTERED OFFICE:

David Attenborough Building Pembroke Street Cambridge CB2 3QZ United Kingdom

COMPANY Mr R Scobey SOLICITORS: Mills and Reeve SECRETARY: Botanic House 98–100 Hills Rd Cambridge CB2 1PH EXECUTIVE Mr R Scobey DIRECTOR: COMPANY 3785518 STATUTORY HaysMac LLP REGISTERED AUDITOR: 10 Queen Street Place NUMBER: London EC4R 1AG CHARITY 1076722 BANKERS: Barclays Bank REGISTERED Bene’t Street NUMBER: Cambridge CB2 3PZ

41

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRAFFIC INTERNATIONAL

OPINION

We have audited the financial statements of TRAFFIC International for the year ended 30 June 2025 which comprise Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets,

the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted

Accounting Practice). In our opinion, the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are

relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

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

group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the

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

OTHER INFORMATION

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent

with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

42

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

the financial statements are prepared is consistent with the financial statements; and

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

RESPONSIBILITIES OF TRUSTEES FOR THE FINANCIAL STATEMENTS

As explained more fully in the trustees’ responsibilities statement set out on page 36, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

In preparing the financial statements, the trustees are

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of noncompliance with laws and regulations related to the regulatory requirements of the Company and Charity law applicable in England and Wales, and overseas branches and subsidiaries complying with local legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, and consider other factors such as income tax, payroll tax and sales tax.

43

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate or improper journal entries and the manipulation of accounting judgements and estimates, including the recognition of income at the yearend. Audit procedures performed by the engagement team included:

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

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

USE OF OUR REPORT

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Harper (Senior Statutory Auditor For and on behalf of HaysMac LLP, Statutory Auditors

10 Queen Street Place London, EC4R 1AG

10 February 2026

44

45

TRAFFIC INTERNATIONAL FINANCIAL STATEMENTS: YEAR ENDED 30 JUNE 2025

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT: ~~YEAR ENDED 30 JUNE 20245~~

Notes
Income from:
Donations
Charitable activities
Investments
Other
Donated services
Total
5
Expenditure on:
Raising funds – grant and contract
proposal development
Charitable activities
Total
6
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2025
Total
£
£
£
1,682,940
2,459
1,685,399
186,553
10,128,242
10,314,795
3,590
-
3,590
9,054
497
9,551
-
22,000
22,000
1,882,137
10,153,198
12,035,335
315,107
-
315,107
2,130,051
10,438,147
12,568,198
2,445,158
10,438,147
12,883,305
(563,021)
(284,949)
(847,970)
123,606
(123,606)
-
(439,415)
(408,555)
(847,970)
2,132,906
1,689,464
3,822,370
1,693,491
1,280,909
2,974,400		 2024
Total
£
931,601
11,291,774
3,660
27,212
-
12,254,247
261,439
13,192,758
13,454,197
(1,199,950)
-
(1,199,950)
5,022,320
3,822,370

All activities in both years arise from continuing activities. There were no other recognised gains or losses other than those shown in the statement above and the net income for the year.

The notes on pages 39 to 61 form an integral part of these financial statements. 49 to 72

Full comparative figures for the year ended 30 June 2024 are shown in note 20.

46

BALANCE SHEETS: AS AT 30 JUNE 2025

Group Charity Group Charity
2025 2025 2024 2024
Notes £ £ £ £
Fixed Assets
Intangible fixed assets 10 - - - -
Tangible fixed assets 11 80,758 56,122 72,360 60,211
80,758 56,122 72,360 60,211
Current Assets
Debtors 12 1,486,670 1,479,917 4,043,879 3,958,003
Cash at bank and in hand 4,314,557 4,202,456 3,207,834 2,994,131
5,801,227 5,682,373 7,251,713 6,952,134
Liabilities
Creditors: amounts falling due
within one year 13 2,907,585 2,803,956 3,501,701 3,357,875
Net current assets 2,893,642 2,878,417 3,750,012 3,594,259
Total assets less current liabilities
being net assets 2,974,400 2,934,539 3,822,370 3,654,470
The funds of the Charity
Restricted funds 1,280,909 1,548,507 1,689,464 1,853,244
Unrestricted 1,693,491 1,386,032 2,132,906 1,801,226
Total Charity funds 16 2,974,400 2,934,539 3,822,370 3,654,470

The deficit of the Charity before consolidation was £719,931 (2024: deficit £1,202,404 ). Further details are presented in note 3.

The financial statements of TRAFFIC International (company number 3785518) were approved by the Board of Trustees and authorised for issue on 14 January 2026 and signed on its behalf by:DATE and signed on its behalf by:

Mark Halle Interim Chair Chair

The notes on pages 39 to 61 form an integral part of these financial statements.49 to 72

47

CONSOLIDATED CASH FLOW STATEMENT: YEAR ENDED 30 JUNE 2025

Cash flows from operating activities:
Net cash flows from operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Transfer of assets
Purchase of fixed assets
Net cash outflow from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 July 2024
Cash and cash equivalents at 30 June 2025
Reconciliation of net cash flows from operating activities:
Net income
Depreciation and amortisation
Loss on fixed asset disposal
Investment income
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash flows from operating activities		 2025
Total
£
1,163,657
3,590
-
(60,524)
(56,934)
1,106,723
3,207,834
4,314,557
(847,970)
52,126
-
(3,590)
2,557,209
(594,118)
1,163,657		 2024
Total
£
(90,386)
3,660
-
(67,733)
(64,073)
(154,459)
3,362,293
3,207,834
(1,199,950)
34,846
2,686
(3,660)
1,659,064
(583,373)
(90,386)

The notes on pages 39 to 61 form an integral part of these financial 49 to 72 statements.

Cash and cash equivalents are represented by cash at bank and in hand.

48

NOTES TO THE ACCOUNTS: YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES

TRAFFIC International is a company limited by guarantee and registered in England and Wales (3785518), not having a share capital, and as a Registered Charity with the Charity Commission for England and Wales (1076722). The Charity is not liable to corporation tax on its charitable activities and further details are shown above within the Reference and Administrative details on page 31. 41.

The following accounting policies have been used consistently in dealing with items which are considered material in relation to the Charity’s financial statements.

The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (Second Edition effective 1 January 2019)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2019; and the Companies Act 2006. The Charity meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in Pounds Sterling rounded to the nearest Pound.

Second, Management completed several actions to address the confirmed loss of income, including redeployment of affected staff to other donor-funded projects; mobilization of new funding from existing and new donors; reduction in discretionary core expenditures, such as travel; and completion of a staff restructuring and redundancy process to reduce the number of staff and associated payroll costs to a level commensurate with the reduced size of the Charity's operations.

Over the first six months of months of FY26, TRAFFIC’s financial position has further strengthened as a result of the continued disbursement of United States government grants that were expected to be cancelled, the receipt of additional donations, grants, and other revenue streams from new sources, and continued strong cost control measures.

The Trustees have confirmed the organisation's ability to continue as a going concern due to implemented actions in FY25, strong income generation in FY26, detailed 18-months cash flow forecasts and funding sources projections, careful review and assessment of TRAFFIC’s projected financial position, and successful business risk management. The financial statements were prepared on this basis, as the charity can continue in operation for the foreseeable future and meet its obligations as they fall due. In making this assessment, the Trustees have not identified any material uncertainty in relation to TRAFFIC’s ability to continue as a going concern.

c) Consolidation

These financial statements consolidate the results of TRAFFIC International Southeast Asia, TRAFFIC International East Africa and TRAFFIC International Europe on a line-by-line basis. TRAFFIC International Southeast Asia is incorporated in Malaysia, East Africa in Tanzania and Europe in Belgium. Transactions and balances between charitable company and its subsidiaries have been eliminated from the consolidated

49

financial statements. There are no significant differences between the accounting policies of the parent charitable company and its subsidiaries. In addition to the subsidiary undertakings, the charitable company has a number of branches which are treated as being part of the results of the charitable company in line with section 25 of the Statement of Recommended Practice. As permitted by Section 408 of Companies Act 2006, no separate Statement of Financial Activities for the Charity has been presented. However, the results of the Charity before consolidation are summarised in note 3.

d)

Income

Income is recognised and included in the statement of financial activities when the Charity has entitlement to the income, it is probable that the income will be received, and the amount can be reliably measured. Income received relating to future accounting periods is deferred and recognised as a creditor within the balance sheet.

Donated services are recognised based on the best estimate of the value to the charity, having made the assessment of what the charity would be prepared to pay.

e)

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. VAT cannot be recovered and is reported as part of the expenditure to which it relates.

Costs of raising funds:

These represent costs of internal allocations for staff involvement in implementation of the Charity’s funding strategy, donor liaisons and assistance with proposal development and submission.

Charitable activities:

This includes expenditure incurred in the fulfilment of the objectives of the charitable company including allocated overheads.

Support costs:

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Support costs are allocated on a pro-rata basis according to the total cost of activities undertaken directly and grant funding of activities.

Governance costs:

This includes expenditure incurred in the general running and administering of the charitable company. These costs include external audit, legal advice for Trustees and costs associated with constitutional and statutory requirements.

f) Tangible fixed assets

Tangible fixed assets are shown at cost less accumulated depreciation. Depreciation is provided to write off the cost of tangible fixed assets over their estimated useful lives of three years on a straight-line basis. The current capitalisation policy is £400.

Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.

50

g) Intangible fixed assets

Intangible assets are shown at cost less accumulated amortisation. Amortisation is calculated on a straightline basis to allocate the assets value evenly over a three-year period. The current capitalisation threshold is £400.

Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.

h) Funds

The Charity records two categories of income—unrestricted and restricted funds.

Unrestricted funds

Unrestricted funds can be used for any purpose approved by the Trustees within the objects of the Charity. Funds that are received without external restriction, and for use in any of the Charity’s activities including operational and establishment costs are treated as unrestricted funds and may be designated by the Trustees for particular purposes as deemed appropriate.

Restricted funds

Resources are allocated to restricted funds according to the limitations on their use specified by the donors or other providers.

Restricted funds are allocated to specific activities and outputs usually under the terms of a project contract accompanying the grant. Detailed accounts are maintained for restricted projects including income, expenditure and fund balances by donor. The majority of projects are short-term in nature with grants being expended between one and five years. Deficits within restricted project funds which occur when income is not entitled to be recognised in the current financial period are carried forward to the next period. Where further funding is not anticipated, a transfer is made from unrestricted funds to cover the deficit.

The Charity does not have any endowment funds.

i) Cash and cash equivalents

j) Employee benefits – Pensions

k) Foreign exchange

Transactions denominated in foreign currencies are recorded at the daily rate of exchange. Assets and liabilities denominated in foreign currencies are translated into Sterling at the rates of exchange ruling at the year end. Gains and losses on re-translation are dealt with as part of the deficit or surplus on ordinary activities for the financial year.

l) Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

m) Financial instruments

Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs). The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and

45

51

subsequently measured at their settlement value.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure.

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y 3. RESULT OF THE CHARITY

3. RESULT OF THE CHARITY
y
Income
Donations
Charitable activities
Other income
Expenditure
Charitable activities and raising funds
Funds transferred to subsidiary undertaking
Net income
Funds brought forward
Funds carried forward		 2025
2024
£
£
1,574,686
857,831
10,007,997
10,948,130
54,487
41,418
11,637,170
11,847,379
12,357,101
13,049,783
-
-
12,357,101
13,049,783
(719,931)
(1,202,404)
3,654,470
4,856,874
2,934,539
3,654,470

4. RESULT OF SUBSIDIARY UNDERTAKINGS

TRAFFIC International Southeast Asia is a company incorporated in Malaysia and is a wholly owned subsidiary of TRAFFIC International. It was incorporated in January 2021 and carries out the activities of the charity in the region. Prior to incorporation, the activities in the region were run as a branch of TRAFFIC International. On 1 February 2021, the activities and net assets of the branch were transferred to the new company. The results have been included in these financial statements from that date, a summary of which is provided below.

Income
Charitable activities
Expenditure
Charitable activities
Net income
Funds brought forward
Funds carried forward
Funds
Total assets
Total liabilities		 2025
2024
£
£
837,422
1,033,931
837,422
1,033,931
901,485
887,906
901,485
887,906
(64,063)
146,025
145,112
(913)
81,049
145,112
108,417
216,648
(27,368)
(71,536)
81,049
145,112

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TRAFFIC International East Africa is a company incorporated in Tanzania and is a wholly owned subsidiary of TRAFFIC International. It was incorporated in December 2021 and carries out the activities of the charity in the region. Prior to incorporation, the activities in the region were run as a branch of TRAFFIC International. On 1 January 2022, the activities and net assets of the branch were transferred to the new company. The results have been included in these financial statements from that date, a summary of which is provided below.

Income
Charitable activities
Expenditure
Charitable activities
Net income
Funds brought forward
Funds carried forward
Funds
Total assets
Total liabilities		 2025
2024
£
£
802,948
1,047,795
802,948
1,047,795
818,278
1,210,070
818,278
1,210,070
(15,330)
(162,275)
(22,992)
139,283
(38,322)
(22,992)
78,945
101,754
(117,267)
(124,746)
(38,322)
(22,992)

TRAFFIC International Europe is a company incorporated in Belgium and is a wholly owned subsidiary of TRAFFIC International. It was incorporated in December 2021 and carries out the activities of the charity in the region. Prior to incorporation, the activities in the region were run by TRAFFIC International.

Income
Charitable activities
Expenditure
Charitable activities
Net income
Funds brought forward
Funds carried forward
Funds
Total assets
Total liabilities		 2025
2024
£
£
204,752
225,532
204,752
225,532
240,239
207,966
240,239
207,966
(35,487)
17,566
45,782
28,216
10,295
45,782
3,161
22,903
7,134
22,879
10,295
45,782

54

5. INCOME

All of TRAFFIC International’s activity relates to ensuring that trade in wild plants and animals is not a threat to the conservation of nature.


he conservation of nature.
Donations
IUCN, WWF & other TRAFFIC entities
Corporate and Individuals
Charitable activities
IUCN, WWF & other TRAFFIC entities
Governments
Multilaterals
Foundations and charities
Corporate and Individuals
Other income
Bank interest
Donated services		 Unrestricted
Restricted
2025
Total
£
£
£
604,843
-
604,843
1,078,097
2,459
1,080,556
1,682,940
2,459
1,685,399
36,553
837,425
873,978
-
6,721,157
6,721,157
-
462,346
462,346
150,000
1,358,659
1,508,659
-
748,655
748,655
186,553
10,128,242
10,314,795
9,054
497
9,551
3,590
-
3,590
-
22,000
22,000
1,882,137
10,153,198
12,035,335
2024 Comparative
Donations
IUCN, WWF & other TRAFFIC entities
Corporate and Individuals
Charitable activities
IUCN, WWF & other TRAFFIC entities
Governments
Multilaterals
Foundations and charities
Corporate and Individuals
Other income
Bank interest
Donated services		 Unrestricted
Restricted
2024
Total
£
£
£
919,076
-
919,076
12,525
-
12,525
931,601
-
931,601
39,132
1,738,329
1,777,461
-
7,130,274
7,130,274
-
544,747
544,747
(124)
1,628,538
1,628,414
-
210,878
210,878
39,008
11,252,766
11,291,774
25,240
1,972
27,212
3,660
-
3,660
-
-
-
999,509
11,254,738
12,254,247

Donated services relate to pro bono coaching support provided to the leadership teams of TRAFFIC International by LeaderLy, a leadership coaching network which offers coaching services to the not-for-profit sector.

55

6. EXPENDITURE

All of TRAFFIC International’s activity relates to ensuring that trade in wild plants and animals is not a threat to the conservation of nature.

Support 2025
Direct costs costs Total
£ £ £
Costs of raising funds - 315,107 315,107
Charitable activities 10,515,578 2,052,620 12,568,198
10,515,578 2,367,727 12,883,305
2024 Comparative
Support 2024
Direct costs costs Total
£ £ £
Costs of raising funds - 261,439 261,439
Charitable activities 11,249,808 1,942,950 13,192,758
11,249,808 2,204,389 13,454,197
Analysis of expenditure:
2025
Unrestricted Restricted Total
£ £ £
Costs of raising funds
Staff costs 275,517 - 275,517
Operational 5,791 - 5,791
Establishment 6,390 - 6,390
Travel 3,883 - 3,883
Depreciation 1,934 - 1,934
Foreign exchange loss 4,925 - 4,925
Governance 16,667 - 16,667
315,107 - 315,107
Charitable activities
Staff costs 1,039,008 5,961,037 7,000,045
Operational 147,129 1,157,464 1,304,593
Establishment 162,361 824,038 986,399
Professional fees - 127,078 127,078
Project sub-contracts 75,000 1,670,241 1,745,241
Travel 98,662 625,534 724,196
Depreciation and amortisation 50,192 - 50,192
Foreign exchange loss 125,126 72,755 197,881
Governance 432,574 - 432,574
2,130,052 10,438,147 12,568,199
Total expenditure 2,445,159 10,438,147 12,883,306

56

2024 Comparative

Analysis of expenditure:

Costs of raising funds
Staff costs
Operational
Establishment
Travel
Depreciation
Foreign exchange loss
Governance
Charitable activities
Staff costs
Operational
Establishment
Professional fees
Project sub-contracts
Travel
Depreciation and amortisation
Foreign exchange (gain)/loss
Governance
Total expenditure		 Unrestricted
Restricted
2024
Total
£
£
£
232,365
-
232,365
3,931
-
3,931
3,041
-
3,041
5,848
-
5,848
1,089
-
1,089
3,990
-
3,990
11,175
-
11,175
261,439
-
261,439
386,120
6,609,772
6,995,892
118,366
2,101,443
2,219,809
91,549
1,068,894
1,160,443
-
103,268
103,268
-
1,223,389
1,223,389
176,083
831,547
1,007,630
33,766
-
33,766
120,130
(17,955)
102,175
346,386
-
346,386
1,272,400
11,920,358
13,192,758
1,533,839
11,920,358
13,454,197

Total expenditure

57

7. SUPPORT COSTS

. SUPPORT COSTS
Professional fees
Auditor’s remuneration
Other audits
Staff costs
Operational
Establishment costs
Travel
Foreign exchange loss
Total
2024 Comparative
Professional fees
Auditor’s remuneration
Other audits
Staff costs
Operational
Establishment costs
Travel
Foreign exchange loss
Total		 Support
Governance
2025
£
£
£
-
233,942
233,942
-
38,400
38,400
-
14,660
14,660
1,701,337
150,754
1,852,091
-
3,169
3,169
191,159
3,497
194,656
25,989
2,125
28,114
-
2,695
2,695
1,918,485
449,242
2,367,727
Support
Governance
2024
£
£
£
-
83,489
83,489
-
37,488
37,488
-
15,157
15,157
1,581,391
206,489
1,787,880
-
3,494
3,494
222,691
2,702
225,393
42,745
5,197
47,942
-
3,546
3,546
1,846,827
357,562
2,204,389

Support costs are allocated on a pro-rata basis according to the total cost of activities undertaken directly and grant funding of activities. Fees payable to the Charity’s auditor are for the audit of the charity’s annual financial statements.

58

8. EMPLOYEE AND TRUSTEE INFORMATION

8. EMPLOYEE AND TRUSTEE INFORMATION
a)
Staff costs:
Wages and salaries
Social security costs
Pension costs
Other benefits
Other staff costs
Severance expenses		 2025
£
5,444,747
1,008,248
619,513
111,794
127,388
114,625
7,426,315		 2024
£
5,586,049
1,029,142
609,158
110,768
99,627
-
7,434,744

Other staff costs include an accrual for untaken annual leave outstanding at the year end, in line with the requirements of FRS102.


requirements of FRS102.
b) The average number of persons, employed during the year was:
Management and Administration
Programme and Research		 2025
75
103
178		 2024
77
105
182

The above numbers do not include Trustees who are not permitted to receive remuneration for their duties. Six trustees received payments for expenses during 2025 totalling £1,825 (2024 – £6,568).

c) Employees with emoluments over £60,000 were:
£60,001 – £70,000
£70,001 – £80,000
£80,001 – £90,000
£90,001 – £100,000
£100,001 - £110,000
£110,001 – £120,000
£120,001 – £130,000		 2025
6
5
4
0
3
0
1
19		 2024
7
4
3
0
1
1
0
16

d) Senior leadership team

Total remuneration of the Key Management Personnel (the Trustees with the Senior Leadership Team comprising the Executive Director and other senior managers), including pension contributions excludinng social security costs, was £775,503 (2024: £649,612) for nine (2024: eleven) staff members. In additionn employer’s NI contributions were paid of £64,292 (2024: £57,580) in respect of Key Management Persoon No Trustees received nor waived any remuneration.

59

9. EMPLOYEE BENEFITS - PENSION COSTS

The Charity’s pension contributions are made to defined contribution schemes. The assets of the schemes are held separately from those of the Charity in independently administered funds. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £619,513 (2024: £609,158 corrected).

10. INTANGIBLE FIXED ASSETS

0. INTANGIBLE FIXED ASSETS
GROUP
Cost:
At 1 July 2024
Additions
Disposals
At 30 June 2025
Amortisation:
At 1 July 2024
Additions
Eliminated on disposals
At 30 June 2024
Net book value:
At 30 June 2024
At 30 June 2025
CHARITY
Cost:
At 1 July 2024
Additions
At 30 June 2025
Amortisation:
At 1 July 2024
Charge for year
At 30 June 2025
Net book value:
At 30 June 2024
At 30 June 2025
5		 Computer
Software
£
94,175
-
-
94,175
94,175
-
-
94,175
-
-
Computer
Software
£
94,175
-
94,175
94,175
-
94,175
-
-

60

11. TANGIBLE FIXED ASSETS

1. TANGIBLE FIXED ASSETS D ASSETS
GROUP
Leasehold
improvements
Fixtures &
Fittings
£
£
Cost:
At 1 July 2024
1,847
53,419
Additions
-
12,324
Disposals
-
-
At 30 June 2025
1,847
65,743
Depreciation:
At 1 July 2024
406
38,399
Charge for year
637
9,745
Released on disposals
-
-
At 30 June 2025
1,043
48,144
Net book value:
At 30 June 2025
804
17,599
At 30 June 2024
1,441
15,020
CHARITY
Leasehold
improvements
Fixtures &
Fittings
£
£
Cost:
At 1 July 2024
-
44,146
Additions
3,638
Disposals
-
-
At 30 June 2025
-
47,784
Depreciation:
At 1 July 2024
-
35,684
Charge for year
-
4,867
Released on disposals
-
-
At 30 June 2025
-
40,551
Net book value:
At 30 June 2025
-
7,233
At 30 June 2024
-
8,462		 Leasehold
improvements
Fixtures &
Fittings
£
£
1,847
53,419
-
12,324
-
-		 Vehicles
£
55,208
-
-
Computer
Equipment
Total
£
£
266,030
376,504
48,200
60,524
-
-
1,847
65,743		 55,208 314,230
437,028
406
38,399
637
9,745
-
-		 55,208
-
-		 210,131
304,144
41,744
52,126
-
-
1,043
48,144		 55,208 251,875
356,270
804
17,599		 - 62,355
80,758
1,441
15,020		 - 55,899
72,360
Leasehold
improvements
Fixtures &
Fittings
£
£
-
44,146
3,638
-
-		 Vehicles
£
55,208
-
-
Computer
Equipment
Total
£
£
253,466
352,820
33,804
37,442
-
-
-
47,784		 55,208 287,270
390,262
-
35,684
-
4,867
-
-		 55,208
-
-		 201,717
292,609
36,664
41,531
-
-
-
40,551		 55,208 238,381
334,140
-
48,889
56,122
-
8,462		 - 51,749
60,211

61

12. DEBTORS: AMOUNTS FALLING WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments
Amounts held by hosts
Amounts owed by subsidiary undertakings
Accrued income		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
202,651
184,026
351,078
304,836
99,616
40,844
122,911
75,726
105,186
105,002
149,479
124,544
199,585
199,585
409,976
409,976
-
81,099
-
33,977
879,632
869,361
3,010,435
3,008,944
1,486,670
1,479,917
4,043,879
3,958,003

Amounts held by host relates to cash amounts held by hosts on behalf of branches.

13. CREDITORS: FALLING DUE WITHIN ONE YEAR 13. Creditors: falling due within one year

Trade creditors
Other creditors
Accruals
Salary and tax creditors
Amounts owed to hosts
Deferred income		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
22,395
19,830
103,389
96,892
106,304
45,177
82,150
61,325
1,346,625
1,306,688
1,720,892
1,648,110
21,699
21,699
33,635
30,853
66,674
66,674
25,026
25,026
1,343,888
1,343,888
1,536,609
1,495,669
2,907,585
2,803,956
3,501,701
3,357,875

Amounts owed to hosts relate to cash balances owed to hosts by branches.

14. Deferred income

14. DEFERRED INCOME

14. Deferred income
4. DEFERRED INCOME
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2025
Total
£
1,536,609
(1,536,609)

1,343,888
1,343,888		 2024
Total
£
1,816,968
(1,816,968)
1,536,609
1,536,609

Deferred income represents income received from donors in advance of contracted activity.

62

15. ANALYSIS OF CHARITABLE FUNDS

1 July 30 June
2024
Income
Expenditure		 Transfers 2025
£
£
£		 £ £
Unrestricted funds 2,132,906
1,882,137
(2,445,158)		 123,606 1,693,491
Restricted funds
Major projects:
Postcode Lottery – Tackling IWT 234,708
300,000
(595,083)		 - (60,375)
CITES Elephant Trade Information System 80,750
(29,607)
(42,735)		 - 8,408
Reducing Trade Threats to Wild Species 204,538
465,690
(366,454)		 - 303,774
and Ecosystems Through Strengthened
Knowledge in Africa
Law Enforcement in Madagascar: a United 291,584
119,301
(449,780)		 - (38,895)
Response to Combating Wildlife Crime
Leveraging legality along China’s timber 313,107
800,357
(783,967)		 - 329,497
supply to reduce deforestation
UNDP Pelargonium sidoides Biodiversity 232,681
(33,275)
(33,855)		 (8,959) 156,592
USAID Saving Threatened Wildlife, Vietnam (643,536)
833,110
(236,522)		 - (46,948)
RTI Tuhifadhi Maliasili (39,021)
49,269
(49,952)		 - (39,704)
Strengthening East Africa Wildlife Law 95,981
283,270
(384,167)		 - (4,916)
Enforcement
Money laundering and the illegal wildlife 145,764
22,791
(125,546)		 - 43,009
trade in China
USAID West AfricaBiodiversity & Low (391,679)
652,956
(232,273)		 - 29,004
Emissions Development
Anti-corruption and combating wildlife (7,405)
(965)
(4,537)		 3,297 (9,610)
trafficking activity - Madagascar
Demand reduction, Enforcement and 336,320
470,863
(814,075)		 - (6,892)
policies supporting The conservation of
Elephants and Rhinos
Demand Reduction China Parrot Trade 86,780
171,087
(166,657)		 - 91,210
INL Strengthening Criminal Justice in 23,974
317,014
(410,997)		 - (70,009)
Philippines
Support to the implementation and (27,581)
164,169
(167,129)		 (4,163) (34,704)
development of the EU Wildlife Trade
Policy and Regulations
Harnessing technology to help end the 23,790
13,969
(24,825)		 - 12,934
illegal online trade in South African
succulents
Trialling Wild Harvest Improvement (10,353)
87,621
(92,083)		 - (14,815)
Projects
IWTEV016 Enhancing knowledge to tackle 9,383
9,546
(34,349)		 - (15,420)
illegal trade of Madagascar’s medicinal
plants
Defra evidence fish maw 16,398
20,476
(50,732)		 - (13,858)
CCI Strengthening landscape restoration by
24,472
42,500
(54,678)		 - 12,294
applyingbestpractices for the integration
of sustainable trade in wild plants and
fungi
Scaling conservation of Himalayan plants (327,050)
1,050,699
(1,392,700)		 21 (669,030)
and fungi through sustainable trade
Guidance for CITES Parties to Develop and -
19,980
(11,841)		 - 8,139
Implement Demand Reduction Strategies
to Combat Illegal Trade in CITES‐listed
Species

63

Support and preparation of CoP20 Rhino
Report		 Support and preparation of CoP20 Rhino
Report		 -
25,139
(25,526)
-
(387)
-
19,258
(18,955)
-
303
Reducing Maritime Trafficking of Wildlife
between Africa and Asia
-
7,137
(6,820)
-
317
Training Workshops in non detriment

findings
-
112,441
(31,583)
-
80,858
BMUV CITES CoP20 Support
EU Guard Demand Reduction Alliance -
42,864
(10,769)
-
32,095
-
130,440
(67,919)
-
62,521
Development of Value Chains for Products
derived from Genetic Resources in
Compliance with the Nagoya Protocol on
Access and Benefit Sharing and the
National Biodiversity Economy Strategy
~~673,605~~
~~6,168,100~~
~~(6,686,509)~~
~~(9,804)~~
~~145,3~~92
~~1,015,859~~
~~3,985,098~~
~~(3,751,638)~~
~~(113,802)~~
~~1,135,5~~17
~~1,689,464~~
~~10,153,198~~
~~(10,438,147)~~
~~(123,606)~~
~~1,280,9~~09

~~During the year transfers of £123,606 were made from restricted to unrestricted funds. They were related to the~~ treatment of cost recovery for project staff as well as write off of foreign exchange variances and project balances allowed by donors.

Some of the negative balances in this note including that relating to the project ‘Scaling conservation of Himalayan plants’ are due to statutory adjustments where a proportion of income was deferred or where there has been an accrual of amounts obligated to be paid to subcontractors but where payments have not yet been made. All other negative balances have been assessed as recoverable.

Tackling the Illegal Wildlife Trade through developing forensic capacity in Southern Africa Funded by the Postcode Animal Trust

The project aims to strengthen our activities relating to reducing illegal wildlife trade in Southern Africa, specifically through the development of wildlife forensic capacity to enhance wildlife law enforcement. The overall goal is to ensure that access to forensic science is available to support wildlife law enforcement in Malawi, Zambia, and Zimbabwe.

Leveraging legality along China’s timber supply to reduce deforestation Funded by Norwegian Agency for Development Cooperation

The project leverages China’s and Vietnam’s significant market role in the timber supply chain from source countries in the Congo Basin, to reduce unsustainable forestry operations and illegal timber trade. Along the continent and following primary trafficking routes into Asia promotes evidence-based solutions with those best placed to take remedial action. The project will continue to develop and promote some of the potentially gamechanging solutions that were initiated in the first phase of the project.

Demand reduction, Enforcement and policies supporting The conservation of Elephants and Rhinos - DETER Funded by the German Agency for International Cooperation (GIZ)

The goal of the project is to support elephant, rhino, and pangolin conservation by driving demand reduction, improved enforcement and increased political will to stop the illegal trade in wildlife products. This will be achieved through reducing consumer demand for elephant and rhino products in China and Viet Nam through providing leadership on demand reduction strategies and engaging key stakeholders to maximise the influence of interventions. The project will also support enforcement against IWT activities in China, selected neighbouring countries, and African countries through capacity building, trans-continental collaboration and improved communications. An enabling policy environment in Africa and China will be supported to facilitate these actions.

64

Tuhifadhi Maliasili.

Funded by USAID via RTI

The goal of the USAID Tuhifadhi Maliasili (TM) activity is to address dynamics that hinder habitat connectivity and the longterm persistence of biodiversity in Tanzania. RTI subcontracts TRAFFIC to implement activities concerning assessment of trade dynamics of threatened species, behaviour change interventions and strengthening of law enforcement and judicial capacity to combat wildlife crime. Activities help the TM Activity to achieve goal to strengthen policy frameworks for biodiversity conservation, natural resource management, improve sustainable tourism and reduce wildlife crime in Tanzania.

Strengthening East Africa Wildlife Law Enforcement

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) The purpose of this project is to address law enforcement capacity shortfalls in East Africa by institutionalising training and providing online resources for critical law enforcement authorities to better address illegal wildlife trade

Scaling conservation of Himalayan plants and fungi through sustainable trade Funded by Defra Darwin Initiative

This project aims to improve local livelihoods, elevate traditional knowledge, and strengthen national and regional approaches to sustainable biodiversity-based trade. Local livelihoods and biodiversity in the high-alpine Himalaya are threatened by wild plant and fungi overharvesting, climate change, illegal trade and inequitable supply chains. This has an impact across the region. As well as working with local partners to improve local livelihoods this ambitious project aims to amend policies, trade agreements, and legal frameworks along the trade chains from Nepal to consumer countries to include provisions for sustainable, traceable trade in wild plant and fungi ingredients, in line with CBD and CITES commitments.

Money Laundering and the Illegal Wildlife Trade in China.

Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) This project aims to contribute to the INL goal of improving China’s will and capacity to investigate, arrest, prosecute, convict, and sentence to the fullest extent of the law the perpetrators of wildlife crime, with a focus on Anti Money Laundering (AML) approaches and anticorruption strategies. The project has developed guidelines for wildlife law enforcement agencies and courts to increase their understanding and implementation for the updated AML regulations in China. Training has been delivered including technical expertise to the Peoples Bank of China. TRAFFIC facilitates regular information sharing between provinces to strengthen law enforcement collaboration against wildlife trafficking.

Anti-Corruption and Combatting Wildlife Trafficking Activity – Madagascar Funded by USAID via WWF US

The goal of the project is to contribute to a reduction of corruption in natural resources to improve conservation outcomes. Anti-corruption actions are key to the good governance and management of Madagascar’s natural resources and biodiversity. To fight against issues posed by corruption, stakeholders and different levels must be engaged. TRAFFIC leads implementation of activities to improve the ability of the Malagasy government to use enforcement of financial crimes as an approach to tackle illegal wildlife trade and corruption. Building on extensive experience implementing court case monitoring programs in Madagascar, TRAFFIC also leads on the further development of court case monitoring efforts.

Taking Charge: Strengthening Criminal Justice Response to Wildlife Crime in the Philippines Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) The Philippines is a hotspot for illegal wildlife trade as a source, transit and destination. This project addresses key issues of low levels of arrests and investigations, lack of capacity and tools among law enforcement agencies, airports and ports acting as smuggling hotspots, and an ongoing high number of illegal wildlife sales in-country, particularly online.

West Africa Biodiversity and Low Emissions Development Funded by USAID via Tetra Tech

The West Africa Biodiversity and Low Emissions Development (WABiLED) Program is a four-year program with 3 core objectives: combat wildlife trafficking and enhance great ape conservation; reduce deforestation, forest degradation, and biodiversity loss in key transboundary forest landscapes; and reduce greenhouse gas emissions and increasing carbon sequestration from land use. TRAFFIC works in partnership with Tetra Tech and others on the first objective.

65

CITES Elephant Trade Information System (ETIS) Funded by the European Commission via UNEP

This funding serves to sustain the operational capacity and integrity of ETIS by supporting core fundamentals of data collection, verification and management of the seizure data by the database manager. It also maintains an online ETIS website in three languages for the benefit of the CITES parties. Finally it supports the production of analytical results from the ETIS data. This is instrumental in guiding decision making at CITES meetings.

Saving Threatened Wildlife , Vietnam Funded by USAID via WWF US

Supports Vietnam to tackle illegal wildlife trafficking. This project focuses on protecting species that are at risk of being trafficked into Vietnam, such as African rhinos, African and Asian elephants, and pangolins, as well as animals that are regularly poached and traded domestically or internationally, such as primates, muntjacs, and big cats.

Demand reduction and behaviour change along China’s parrot supply chains Funded by Defra IWT Challenge Fund

This project aims to reduce threats to African Grey Parrots (AGP) and other endangered African parrots in Cameroon and the Democratic Republic of the Congo (DRC), and tackle high demand in China. Activities integrate innovative social and behaviour change (SBC) approaches to reduce Chinese consumer demand for these parrots as pets, with corporate engagement and behaviour change targeting Chinese nationals in Cameroon and DRC who are potentially involved in the poaching and trafficking of the target parrots

Support to the implementation and development of the EU Wildlife Trade Policy and Regulations Funded by the European Commission

This contract tasks TRAFFIC to provide support to the European Commission in monitoring the implementation and enforcement of the EU Wildlife Trade Regulations. As part of the contract, TRAFFIC also assists the Member States in carrying out certain implementation and reporting tasks required of them by the EU Wildlife Trade Regulations and provides support to the European Commission and other relevant actors, such as Europol and Eurojust in the implementation of the actions contained in EU Wildlife Action Plan.

Harnessing Technology to End the Illegal Trade in Succulent Plants

Funded by the Defra Illegal Wildlife Trade Challenge Fund via Royal Botanic Gardens, Kew

Aims to apply multidisciplinary research, including the use of novel forms of technology, to identify points of intervention and inform strategies to improve regulation and law enforcement actions concerned with the illegal wildlife trade in succulent plants. Methodologies range from the use of AI search tools to monitor online wildlife trade, the development of chemical fingerprinting and marking techniques aims to enable traceability and transparency in trade, and the use of wildlife trade data combined with new knowledge generated by interviews to form new insights into the illegal trade in Southern African succulent plants. TRAFFIC are co-leaders of the project.

Trialling Wild Harvest Improvement Projects for Sustainable Wild Plant Trade Funded by Defra Darwin Initiative

This project aims to address challenges faced with certification of wild harvested plants. These challenges are similar to that of the fisheries sector in incentivising conservation with social impact. Benefits for harvesters may be held back by the time and resources required for certification, and the need to address resource governance at landscape level. This project will adapt innovations developed for fisheries to wild plants with pilots in Morocco and Uzbekistan.

Enhancing knowledge to tackle illegal trade of Madagascar’s medicinal plants Funded by Defra Illegal Wildlife Trade Challenge Fund

The illegal and unregulated trade in Madagascar’s medicinal and aromatic plants (MAPs) results in biodiversity decline and has pushed some endemic species to extinction. This project identifies priority interventions and informs pathways to strengthen governance, where necessary, and improve regulations and law enforcement strategies to disrupt the supply chains of illegally trafficked plant species. It also identifies new market opportunities to foster legal and sustainable trade of high-value MAP species, thus enhancing benefits to Malagasy communities.

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Gathering evidence to address the illegal trade in fish maw Funded by Defra Illegal Wildlife Trade Challenge Fund

Fish maw is an important high-value dried seafood product, widely traded in Asian markets, alongside sea cucumber, abalone and shark fin. Very little is known about this trade, in particular the species harvested, source fisheries, and associated livelihoods, yet Customs data indicates that trade from Africa is growing, with concerning under-reporting of exports. This project investigates fish maw trade dynamics for three African source countries, and Hong Kong markets, focusing on aspects of illegal and unregulated catch and trade.

Strengthening landscape restoration by applying best practices for the integration of sustainable trade in wild plants and fungi

Funded by Endangered Landscapes Programme

Current initiatives show that restoration can be managed to deliver local socio-economic benefits, as a key to long-term success. This project provides practical guidance to help Endangered Landscape Programme projects overcome barriers to sustainable use of wild species in their restored landscapes.

Guidance for CITES Parties to Develop and Implement Demand Reduction Strategies to Combat Illegal Trade in CITES‐listed Species

Funded by CITES Secretariat

TRAFFIC is widely recognized as a competent organization in the context of demand reduction strategies to combat illegal trade in wildlife and has global reach with experience in conducting projects for the CITES Secretariat. The objective of this project is to support parties in the use of the Guidance for CITES Parties to Develop and Implement Demand Reduction Strategies to Combat Illegal Trade in CITES‐listed Species. TRAFFIC was commissioned to draft the Guidance and is a strategic partner of the CITES Secretariat in its demandreduction initiatives to combat illegal trade in CITES-listed species.

Support and preparation of rhinoceros report to CoP20

Funded by BMUV

Since the 14th meeting of the Conference of the Parties in 2007, TRAFFIC and the IUCN /SSC African and Asian Rhino Specialist Groups have been producing analyses and reports to the CITES parties on the status, conservation and trade of African and Asian rhinoceros. This project supported ongoing management and coordination of work related to rhino trade analysis for CoP20.

Reducing Maritime Trafficking of Wildlife between Africa and Asia Funded by USAID

Addition of further activities under the “Reducing Maritime Trafficking of Wildlife between Africa and Asia”. TRAFFIC supported the development of Authorized Economic Operator (AEO) Programme awareness materials in Kenya, Tanzania, and Uganda which included Illegal Wildlife Trade (IWT) content to increase awareness among private sector companies in the transportation sector. TRAFFIC also worked to institutionalize IWT modules in law enforcement institutions. New activities included further expansion of AEO trainings in the region and work to institutionalize AEO Programme training modules within relevant institutions under the East Africa Community (EAC).

Training workshops in Non Detriment Findings

Funded by International Timber Trade Organisation

Project worked to support the International Timber Trade Organisation (ITTO) Secretariat in delivering regional training workshops on Non Detriment Findings in Costa Rica and and Togo.

Support of CITES CoP20 priorities Funded by BMUV

Activities enhanced data-driven decision-making through the maintenance of the Elephant Trade Information System (ETIS) and providing analytical results, data and information from ETIS to support decision making, informing CITES parties on key aspects for considerations related to trade in saiga antelope, and various aquatic species, ensuring informed policy discussions. TRAFFIC provided technical support for developing responses to various species listing proposals, including assisting in strengthening regulation of aquatic species trade, and empowering demand reduction initiatives for CITES-listed species. By fostering international collaboration and capacity-building among range, transit, and consumer states, TRAFFIC, through this initiative, aimed to bolster the effectiveness of CITES regulations, support conservation strategies, and promote legal, sustainable wildlife trade as a means to protect biodiversity and livelihoods.

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GUARD Wildlife – Demand Reduction Alliance

Funded by the European Commission via UNODC

This project supports the implementation of the EU-funded Action GUARD Wildlife (Global United Action to Reduce and Dismantle Organized Wildlife Crime) implemented by the International Consortium on Combating Wildlife Crime (ICCWC) in close cooperation civil society organizations (CSOs). GUARD Wildlife specifically aims to 1) reduce the illicit trafficking in wildlife and wildlife products in targeted source, transit and destination countries; and 2) to reduce the demand in illicit wildlife and wildlife products in targeted destination countries. An Alliance of leading CSOs working in this space (IFAW, TRAFFIC, WCS, WWF) have come together to design and deliver activities in China, including in the Hong Kong SAR of China, Qatar and UAE. These activities aim to achieve a 25% reduction in targeted consumer demand for taxa such as big cats, pachyderms, pangolins, birds, freshwater turtles and tortoises and other reptiles, used for wealth driven demand, Traditional Chinese Medicine (TCM) and the exotic pet trade.

Development of Value Chains for Products derived from Genetic Resources in Compliance with the Nagoya Protocol on Access and Benefit Sharing and the National Biodiversity Economy Strategy. Funded by GEF via UNDP

Further activities were added to this project under a contracted extension. Activities included development of a Socio-economic and livelihoods study, development of a multi-stakeholder implementation strategy and work on knowledge products and community-based awareness raising. TRAFFIC have supported training on sustainable harvesting guidelines for Pelargonium sidoides and provided training to Government officials to aid the implementation of the Biodiversity Management Plan.

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Analysis of charitable funds for the year ended 30 June 2024:

Postcode Lottery TRACE
CounteringWildlife Traffickingin Angola		 161,739
~~ee~~		 336,685
~~es~~		 (263,716) - 234,708
203,583
~~ee~~
~~a~~		 114,298
~~es~~		 (310,986) - 6,895
CITES Elephant Trade Information System
(see note below)
WTRAPS		 132,949 145,577 (197,776) - 80,750
356,036
~~a~~		 309,524 (714,366) (15,427) (64,233)
Reducing Trade Threats to Wild Species
and Ecosystems Through Strengthened
Knowledge in Africa
Law Enforcement in Madagascar: a United
Response to CombatingWildlife Crime		 177,369 481,288 (454,119) - 204,538
457,170
~~ee~~		 208,600
~~ee~~		 (374,187)
~~ee~~		 - 291,583
OES Crime Convergence Indonesia ~~ee~~
~~ee~~		 ~~ee~~ ~~ee~~
(25,181)
~~ee~~
~~ee~~		 453,538
~~ee~~		 (504,010)
~~ee~~		 - (75,653)
Leveraging legality along China’s timber
supply to reduce deforestation		 559,496
~~ee~~
~~ee~~		 838,570
~~es~~		 (1,097,321) 12,362 313,107
~~ee~~ ~~es~~
USAID Saving Threatened Wildlife (see note
below)
RTI Tuhifadhi Maliasili		 (456,604)
~~ee~~
~~ee~~		 319,496
~~es~~		 (506,426) (3) (643,536)
(131,087)
~~ee~~		 319,305 (227,238) - (39,020)
Strengthening East Africa Wildlife Law
Enforcement
Money laundering and the illegal wildlife
trade in China		 196,653
~~ee~~		 405,913 (506,585) 95,981
141,788 198,965 (194,990) - 145,763
USAID West Africa Biodiversity & Low
Emissions Development (see note below)
TNRC Madagascar
Demand reduction, Enforcement and
policies supporting the conservation of
Elephants and Rhinos
DR China Parrot Trade (see note below)
SA Willife Investigator Mentoring Scheme
INL Strengthening Criminal Justice in
Philippines (see note below)
USAID Forestry and Biodiversity Support
INL Cameroon
INL LAC
INL Malaysia - Project Catalyse
Darwin Plants & Fungi		 (325,204) 397,068 (463,543) - (391,679)
155,895
~~a~~		 198,030 (361,330) - (7,405)
195,602
~~ee~~		 648,212 (507,494) - 336,320
60,503
~~ee~~
~~ee~~		 171,557
~~es~~		 (145,280) - 86,780
115,927
~~ee~~
~~ee~~		 358,096
~~es~~		 (484,088) - (10,065)
375,155
~~ee~~
~~ee~~		 164,379
~~es~~		 (515,560) - 23,974
23,575
~~ee~~		 166,282 (158,932) - 30,925
-
~~ee~~
~~a~~		 297,250 (134,523) - 162,727
-
~~a~~		 397,224 (113,414) - 283,810
-
~~a~~		 513,283 (85,637) - 427,646
-
~~a~~		 236,174 (563,224) - (327,050)

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Five funds (as noted above) have been corrected for an error in the balances for these funds per the FY24 accounts. This error was due to the fact that the 1 July 2023 figures for these funds per Note 15 to the FY24 accounts did not include adjustments made to these funds at the end of FY23. However, these adjustments were reflected in the total restricted fund balance and so a corresponding alteration has been made to the figures for ‘other projects (ie those not individually listed). ’

16. ALLOCATION OF NET ASSETS BETWEEN FUNDS 16 . Allocation of net assets between funds

6.Allocation of net assets between fund
6. ALLOCATION OF NET		 s
ASSETS BETWEEN F		 UNDS
Unrestricted Restricted 2025
Group funds funds Total
£ £ £
Fixed assets 80,758 0 80,758
Current assets 2,114,201 3,687,026 5,801,227
Current liabilities (501,468) (2,406,117) (2,907,585)
Total funds 1,693,491 1,280,909 2,974,400
Unrestricted Restricted 2025
Charity funds funds Total
£ £ £
Fixed assets 56,122 56,122
Current assets 1,744,442 3,856,832 5,601,274
Current liabilities (414,532) (2,308,325) (2,722,857)
Total funds 1,386,032 1,548,507 2,934,539
2024 Comparative Restricted Unrestricted 2024
funds funds Total
Group £ £ £
Fixed assets 72,360 - 72,360
Current assets 2,626,936 4,624,777 7,251,713
Current liabilities (566,388) (2,935,313) (3,501,702)
Total funds 2,132,908 1,689,464 3,822,371
2024 Comparative Restricted Unrestricted 2024
funds funds Total
Charity £ £ £
Fixed assets 60,211 - 60,211
Current assets 2,223,502 4,694,656 6,918,158
Current liabilities (482,487) (2,841,412) (3,323,899)
Total funds 1,801,225 1,853,244 3,654,469

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17. OPERATING LEASES

At 30 June 2024 the Charity had total commitments under non-cancellable operating leases as set out below: 5

Payment due:
Within one year
Within two to five years		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
Land &
Buildings
Land &
Buildings
Land &
Buildings
Land &
Buildings
74,920
50,382
118,674
70,942
6,413
6,412
27,767
17,839
81,333
56,794
146,441
88,781

18. RELATED PARTY TRANSACTIONS 18. Related party transactions

The following transactions took place between the TRAFFIC International and its wholly owned subsidiaries - TRAFFIC International Southeast Asia, TRAFFIC International Tanzania and TRAFFIC International Europe: Transfer of project income of £1,441,651 (2024: £1,862,615) and core income of £152,726 (2024: £147,147) from the parent undertaking to the subsidiaries. Service support charges of £310,598 (2024: £159,773) were made by the parent undertaking to the subsidiaries. Grants of £nil (2024: £nil) were transferred from the subsidiary to the parent undertaking. At the year end, the parent undertaking was owed £81,099 (2024: £33,977) by the subsidiary undertakings. There were no other related party transactions in the current or previous year.

19. TAXATION 19. Taxation

The Charity is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes.

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20. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (YEAR ENDED 30 JUNE 2024)

Unrestricted Restricted 2024
Notes Funds Funds Total
£ £ £
Income from:
Donations 931,601 - 931,601
Charitable activities 39,008 11,252,766 11,291,774
Investments 3,660 - 3,660
Other 25,240 1,972 27,212
- - -
Total 5 999,509 11,254,738 12,254,247
Expenditure on:
Raising funds – grant and contract
proposal development 261,439 - 261,439
Charitable activities 1,272,400 11,920,358 13,192,758
Total 6 1,533,839 11,920,358 13,454,197
Net income/(expenditure) (534,330) (665,620) (1,199,950)
Transfers between funds 302,491 (302,491) -
Net movement in funds (231,839) (968,111) (1,199,950)
Reconciliation of funds:
Total funds brought forward 2,364,745 2,657,575 5,022,320
Total funds carried forward 2,132,906 1,689,464 3,822,370

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TRAFFIC Global Office www.traffic.org David Attenborough Building, +44(0)1223 331 997 Pembroke Street traffic@traffic.org Cambridge Images copyright TRAFFIC CB2 3QZ, UK unless otherwise specified

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