Annual Réport, 2024/25 Company registration number: 4251503 Registered Charity in England and Wales number". 1090499
National Animal . 7 Welfare Trust Contents Chair of Trustees summary Annual Report Financial Overview 11 Charity Information / Contacts 14 Trustees, Statement ...........................................................................-. 15 Independent auditor's report 16 Statement of f inancial activities 20 Balance sheet 21 Cash flow statement 22 Notes to the f inancial statements 23 NATIONAL ANIMAL WELFARE TRUST ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 s+p The Trustees of the National Animal Welfare Trust present their report and the audited financial statements for the year ended 31 March 2025, which have been prepared in accordance with the current statutory requirements and with the charity's governing document. This report and accounts follow the reporting requirements set out in the Charities SORP IFRS 1021.
National Animal . 7 Welfare Trust From the Chair It wa5 Wlth great pleasure and a little trepidatlon that I took over from Laura Magee as Chair last Autvmn. Laura stepped down after almost two decades of outstanding service. thereby marking the end of an era. l and the rest of the 'new' Board would like to formally record our gratitude for her exceptional service and dedication to NAWT over so many year5. The Board are excited to be welcoming five new recruits to restore a full complernent for next year and beyond. We are committed to improving our all-round connectivity with the charity and for rne personally getting out to visit all f ive centres and meet the amazing tearns running them has been an absolute highlight of the year (along with rneeting a few of the four legged residents of coursell It ha5 undoubtedly been another busy and rewarding year for the charity, continuing to rescue, rehome and help so many deserving nimals while striving towards a more sustainable footing in order to counter the demanding financial challenges we are all facing. At times it has felt like we're running hard just to stand still and I know that we are not alone in that feelingl The good news is that going fofwards, our aspiration is to help even more animals than before by developing new more cost-e*fective preventative strategies. but that is for next year. John Garratt - Chair of Trustees NAWT There are lots of pluse5 to celebrate for this year, from continuin9 to find homes for well over a thousand deserving animals such as long-term resident Harley, to a successf ul trial of a new animal welfare tracking system for dogs which will help to improve care and targeted support where necessary. For our people we have introduced more comprehensive and consistent induction training for new starters. and have continued our focus on management training while seeking clearer understanding of individual conceins and general well-being. We have increased the number of active volunteers and the hours they have dedicated rose across our Centres and shops from last year. The five shops have all performed strongly and ale now eniphasising stronger connection5 back to the charity's purpose. We hope to extend our retail offer even further in the year ahead. The pressure5 are undoubtedly relentless and we know there will be more challenges to come. However. the continued dedication and hard work of employees and volunteers alike has ensured that NA remains a beacon of light for anima15 in need and one which will continue to burn for years to come, none of which would be Possible without our magnificent and loyal supporters to whom we femain truly grateful. John Garratt k13Yle4 NJAWT'S Ttustee Boaid
National Animal . g Welfare Trust Annual Report WHO WE ARE NAwf operates from five rehoming locations: Aspley Guise in Bedfordshire Trindledown Farm in Berkshire Wheal Alfred near Hayle in Cornwall Little Clacton in Essex Watford in Hertfordshire OUR HISTORY Our roots can be traced back to 1958, when the British Union for the Abolition of Vivisection IBUAVI established BUAV Dog Rescue. The initiative to establish BUAV Dog Rescue was to stop dogs and puppie5 being bought at markets as a way of preventing them going to laboratories for vivisection. In 1971 BUAV metnbers felt that the work of BUAV Animal Aid was departing from its aims. and it was agreed to establish a separate charity. The Animal Welfare Trust (AWTI was founded in 1971 as an independent charity and the word national was added in 1996 as part of our 25th Anniversary celebrations to reflect our wider area of influence. The majority of NAWT'S centres used to be stèndalone charities, but their founders or Trustees felt that they could give their charity a better future being part of NAWT. We are very proud of this approach as it enables an important community service to continue, and we f eel honoured that individuals have entrusted their life's work to us. WHAT WE DO We rehome cats and dogs at all our Centre5 together with a variety of other anim815 depending on the facilities available. We support a number of Ioc81 authorities in helping with stray animals. Our Centre5 are open to the public to encourage interaction and education. so that people have a better understanding of what it means to take cère of an ènimal. We are developing our range of preventative activities. where we can work with our communities to offer educational and practical support to help pets to stay with their loving families éuring diff icult times. OUR VISION Every pet will thrive in a loving home. OUR MISSION Improving the live5 of pets by providing rehoming, educational and practical support to animal owners in our communities. OUR VALUES 'We never stop caring. for our animals and our people.
Natlonal Animal . 7 Welfare Trust You Never Stop Caring Fighting against the odds This year. we saw an increase in stray and abandoned animals. possibly due to the cost- of-living crisis. Over a third of the animals who arrived in our centres were facing their very last chance for a brighter future in a loving home. Without a rescue space. it is likely that they wouldn't be here today. This was certainly true for Cece (pictured). L Cece's Story. - We received a call from a local pound th on 13 February, to say that Cece's time had ran out and she was booked to be put to sleep the next day, on Valentine's Day. At just 8 months old, still just a baby, no-one had claimed her, and her terrible fate was sealed unless a rescue centre was willing to offer her space. Despite running at capacity, we very quickly made space, utilising our incredible foster volunteers, and told the pound to cancel Cece's euthanasia appointment. We welcoffled Cece into one of our centres on Valentine's Day with a promise that she'd have a place at NAWT for as long as it takes to find her the home she deserves. We didn't have to wait long. Within two weeks. Cece had captured the heart of her new owner and now her luck has completely turned around. She is thriving in a loving home thanks to the support we receive from donors. which allows us to keep our doors open. Our Centre Manager said:: Cases like Cece's are heartbreaking. She was a perfectly healthy young dog an owner and she very nearly didn't get a second chance. Our centre will always help, if we can, so more dogs get the second chance they deserve. I'm so glad we could help Cece."
National Animal . V Welfare Trust 2024/25 in numbers Total number of als.thelpe.d. 1,525 286 ACTIVE VOLUNTEERS GIVING A TOTAL 33 445 HOURS OF SUPPORT (20.460 CENTRES. 12.985 SHOPS) 377 DOGS 600 CATS Ill ,Ili 75 SMALL ANIMALS 20 OTHER ANIMALS l.l&t'l., •• £14,187 £59.072', HOME DIRECT 48 ANIMALS SCHEME REHOMED anirn_ nts- •• 405 FERAL CATS supported by our TNR scheme £40.277 £162.956 for anlmals 19.788 email subscribers 6.728 Instagram followers 24.730 Facebook followers Average length of stay for animals on site: 79 days È 214.009 27 days spent on vet rocedures 96 days
National Animal 37 Welfare Trust Other Achievements 2024/25 was the final year of our current three year Business Plan as we work towards delivering our five key objectives: Diversify income streams to reduce reliance on legacies Make NAWT an aspirational place to work and volunteer Grow our rehoming capacity 8 8 through virtual networks Ensure our organisational infrastructure supports efficient ways of working Develop a preventative action programme s well as helping 1.525 anlmals. sorne o.f our Key achievernents this year were: Home Direct service embedded in relinquishment journey (rehoming dogs without a kennel stay), with 48 dogs finding new homes via this channel. Planning permission granted to develop our oldest site at Watford in Hertfordshire. Leadership training workshops for all Centre Managers & Supeivisors completed. First anniversary for our two new shops opened in Hemel Hempstead and Leighton Buzzard, generating almost £200k in income. Renovation of our Hayle and Woburn Sands shops. Launch of new framework to recruit and support Foster volunteers {72 applications received) New animal welfare tracking system introduced to allow us to better understand and monitor the welfare of dogs in our care. Employee handbook and HR policies updated. Move to a fully cloud based IT system which means less operational disturbances.
National Animal . Z Welfare Trust Our People EMPLOYEES OUR PEOPLE: THE HEARI" OF OUR MISSION At the core of our rehoming efforts are our team member5 whose cofflpassion and comrnitment transform the lives of pets every day. We would not be able to achieve what we do without the skills and dedication of our 116 full and part time employees, who work across our five rehorning centres. head office and five charity shops. CHALLENGES & IMPROVEMENTS Employee recruitment & retention continues to be a challenge, impacted by the cost- of-living crisis resulting in less opportunity for people to work vocationally, and the sectors challenge to get competitively ahead of the governrnents living wage increases. With the proposed introduction of better training opportunities for our existing teams. and the svpport of our animal training and behaviour specialist, we aim to equip our teams with the additional tools to support anirnals with behavioural challenges whilst providing job satisfaction during their time with us. NAwf CORNWALL CENTRE STAFF Caring for animals in crisis can be emotionally and physically demanding. We have recognised the need to continue to Improve employee wellbeing and following our wellbeing survey conducted earlier this year, will be focussing on a deliverable wellbeing strategy. LOOKING AHEAD NAWT is extremely 9rateful to all our team members who continue providin9 Vltal support to people and their pets in urgent need. Their hard work and dedication are invaluable, and we are committed to building on our values of compassion and excellence, because when our teams thrive, so do the animals in our care. NAV BEDFORDSHIRE CENTRE STAFF VOLUNTEERS Our volunteer nurnbeis at the end of the year stand at 286 and collectively they generously donated 33.445 hours. That's up by 46% from last year which is quite incredible. As always. the social and emotional impact the volunteers have on our services is rnuch harder to measure than the financial impact, but the saving this year is over £408,000 in the equivalent staff costs. Our volunteers work tirelessly in many different roles throughout to help improve the lives of animals in our care.- ranging f rom retail. f undraising, fostering. admin and of course direct work with animals. Without their commitment and (ledication, it would be much harder for us to work towards our vision of all pets thriving in 8 loving home. We are. as always, incredibly grateful for this svpport and whilst we continue to improve our volunteer journey so we can add to our team, we remain forever gratefvl to all of our volunteer5 for their continued care and dedication. SUPPORTER GROUP We are extrernely lucky to have a svpporter grovp rvn solely by volunteers based in Thurrock IEssexl. These volunteers provide support, advice and even organise veterinary care for animals in their afeas, as well as helping to raise much needed funds for NA to continue its work. THURROCK VOLUNTEERS
National Animal . 7 Welfare Trust How we fund our activities FUNDRAISING NA has recognised its heavy dependence on legacy income and the need to develop sustainable income streams to ensure the financial security of the Trust in the medium and long term, a5 well as to help build a reserve pot to help fund any development projects. KEEP OUR Whilst Ouf total funds may look healthy at £8.3m,. 55% of that is in fixed assets & restricted f unds, with f urther f unds tied up in Legacies which can take a number of years to materialise. The small percentage of available f unds highlights the importance of continued f undfaising to achieve Our ambitions in light of the rising costs we face. LIGHTSL" DOUBLE DONATION CAMPAIGN RAISED AN INCREDIBLE £127.000 FUNDRAISING CAMPAIGNS Following astronomical increases to our utility bills in the prior year, which made light and heat our second highest annual cost, we focussed our Double Donations fundraising cafflpaign on raising enough money to keep the lights on at NAwf for another year. The campaign highlighted the desperate need for iescue centre5 like ouis by telling the story of a stray dog's journey from homelessness through to time in rescue and on to 8 loving home. It became ovr most successful Double Donations campaign to date and raised an incredible £127,000, which will cover 10 months of vtility bills across the whole charity. NAWT was awarded more than £75,000 in funding from 18 Charitable Trusts and Foundations this year, which gave vs much-needed support towards è number of things from general running costs to urgent veterinary care and a new animal ambulance. Support from Charitable Trusts and Foundations ensures we can continuously improve the level of care we're able to provide to homeless, unwanted and abandoned animals. We received more than £40,000 in corporate support from donations, sponsorships and corporate volunteering days. This included an incredible £2,000 donation from the John Lewis Distribution Centre. much-needed 5VPPOrt from a variety of Pets at Home stores ècross the country, a charity partnefship with Service Innovation Group ond regular corporate volunteering days from a variety of local and national businesses. We're immensely grateful to all the businesses who support our work. CHARITY SHOPS 2024-25 was a fantastic year for NAWT retail. with our 5 shop teams and their amazing volunteers. generating a total income of £485k. which was 13% up against budget and 70% up against 2023-24. Our original 3 shops all performed well and Like for Like ILFLI 5ale5 were +£30k111¥6 up. Our 2 new shop5. who celebrated their first-year anniversaries in Harch. exceeded our expectations. generating over £185k of incorne! We launched a new till system in September which helped us increase our Gift Aid income to just under £10k last year, we are confident this will increase f urther in 2025-26. Outside of their direct f inancial contribution, all 5hop5 continued to increase their wider value to the charity by 5vpporting central f undraising activity e.g. double donations appeal at Chri5trna5, 85 well as supporting at a local level e.g, promoting Centre events and selling raffle tickets. All shops now have Centre inf ormation boards in store, along with more charity messaging and lovely imagery of pets that their local centre has rehomed, increasing brand awareness and engaging customers. LEIGHTON BUZZARD SHOP TEAM
National Animal . 7 Welfare Trust You Never Stop Caring Roxy's story Fragile, mistreated, malnourished. frightened. hungry... Sadly, these are words that have been used regularly over the last year to describe some of the animals arriving at our centres. Roxy was one such animal. A beautiful Dogue de Bordeaux who had been left in a horrifying ernaciated state. Usually a mild-mannered yet enormous and powerful force of nature, we'd expect a dog of Roxy's breed to weigh at least 45kg. However, Roxy arrived looking painfully thin with low muscle mass, and barely reached 30kg. The sight of such a gentle giant fading away is a havnting image that stays with you for a long time. It's something you never become immune to, no matter how many years you work in animal rescue or how many cases of neglect you see. It never gets easier. That being said, another thing that will never cease to amaze us is an animal's capacity to maintain complete faith in humans, regardless of their history. Roxy was a prime example. With her big soulful eyes. she made it abundantly clear that all she desperately wanted was a person to love her and true to her breed traits, she bonded closely with the staff who cared for her, showering them with slobbery love and affection regularly. During her time at NAWT, Roxy received special dietary care to help her gradually gain essential weight without sending her body into shock. Her energy levels increased with proper nutrition, and she began to look like a healthy young Dogue de Bordeaux should. Eventually she was ready to embark on a new adventure to a loving home. where she could put her horrific past behind her. Her new owner told us: "Roxy really is a wonderful girl,. I feel so honoured that I'm the lucky person who gets to love and care for her for the rest of her life, thank you so much. This story highlights the incredible irnpact donors and rehomers make towards improving the lives of neglected and homeless animals.
N*ional Animal . 7 Welfare Trust Governance OVERSIGHT The Charity is governed by its Board of Trustees as listed below and meets regularly throughout the year. The Trustees are responsible for agreeing and reviewing the overall strategy of the Trust, reviewing and approving policies, agreeing the budget and approving the annual accounts. ensuring that there are eff ective governance arrangements. establishing delegated authorities and management frameworks, and monitoring overall operational perforfflance. We will be recruiting some new trustees next year in order to manage our succession planning as two of our existing Trustees come to the end of their terms. This ongoing process follow5 Charity Commission guidance on good practice, and includes.. John Garratt - Chairman Caroline Thoffllinson Treasurer Melanie Chapman - Deputy Chairman Danny Lezer Ben Brilot Sharmini Jvlita Kate Brown Lucy Parker Jesslca Duke A skills audit to iéentify those areas where the Trust could benef it from additional expertise on its governing body.. Advertising for new Trustees in relevant publications lincluding local press and national charity publications) and through the Association of Dogs and Cats Homes if needed A selection process involving Trustees. supported by the Chief Executive,. and The implementation of a Trustee induction day Jaffles Moore (retired Oct 24) Lynley Griff iths (retired Oct 24) Laura Magee (retired Oct 24) Secretary: Dawn Webster (Director of Adrnlnlstration> DELIVERING FOR THE PUBLIC BENEFIT The Trustees have had a due regard to the Charity Commission guldance on public benefit. Our objects as stated in the Articles of Association are that the NAWT exists to provide: The provision of care and shelter for stray, neglected and unwanted animals of all kinds an(i the protection of animals of all kinds f rom ill usage, cruelty and suffering and in particular. to rescue and provide care an¢J shelter for stray. neglected and unwanted anifflals of all kinds and find suitable homes for any such animals. ORGANISATIONAL STRUCTURE The key management personnel of the charity comprise the Trustees and the Senior Marlagement Team ISMTI. Responsibility for achieving the strategic objectives and for the day-to-day management of the Trust is delegated to the Chief Executive. supported by a Senior Management Team consisting of the Head of Centre Operations and the Director of Administration. A frarnework of delegated authorities is in place. and is kept under regular review. (L-R) Heèd of Centre Operations Darren Bell Director of Aclrninistration Dawn Webster Chief Executive Rob Mitchell
Natlonal Animal . 7 Welfare Trust Governance RISK ASSESSMENT AND MANAGEMENT The Trustees have considered the financial and non-finèncial risks faced by the charitable company and have carried out a number of reviews of internal controls. The key rlsks are currently Identified as.. 1. Legacy Income may cease or significantly reduce The risk register for the Charity is reviewed quarterly by the Board and kept under regular review by the Senior Management Team. 2. Key roles in the Head Office tearn leave the organisation and the business does not have the knowledge to carry out crltical tasks Day to day management of Health and Safety is good and is reviewed regularly by the H&S Steering group. 3. An anirnal fflay cause an injury leèdlng to BrancF damage nd / or financial liability. RESERVES POLICY The Trust's Reserves Policy has three objectives: Our investment Portfolio stands at £1.5M. and our total cash reserves were enough for 7 months of running Costs as at year end. A target of 6 rnonths runnlng costs. which would be £1.913.862 held in free reserves with a minimum of three months. which would be £956.931 to guard against fluctuations in incorne and cash-flow requirements We will look to ringfence £500K of Cash reserves for potential upf ront costs of the development of our Hertfordshire centre in 2025 / 26. To maintain the Trust's investrnent portfolio to a rnlnlrnvm of £500k to help generate essential annual investment Income towards our operating costs To build up sufficient funds to support the capital investrnent in the Trust's centres of £500k This may temporarily take our reserves below the targets set by the board of Trustees. STRATEGIC REPORT This trustees, report also rneets the cornpany law requirements for a directors, report. Further. as a medium sized company. the Trustee5 report also covers the requirements for our strategic report. As required. the Trustees have reviewed the Trust as a 'going concern, for the next 12 months, and have conclvded that this is the case. This review looked at a number of factors including- the legacy pipeline of notifications and anticipated income.. the fact that senior management review income and expenditure and cash-flow forecasts on a regvlar basis.. and that the Trust has sufficient free reserves to cover a short- term decrease in income. The Trustees would like to thank our nurnerous donors. frlends and supporters as well as ovr volunteer fundraisers who do so much to help fund our work every year.
National Anirnal . 7 Welfare Trust Financial Overview SUMMARY 2024/25 NAWT statutory accounts showed a net deficit of1£1,401,039) compared to a deficit of1£30,7731 in 2023/24. The year on year increase in our def icit was primarily due to a review of our f ixed assets which resulted in a one off depreciation write off of £1.091.002. Excluding legacies and depreciation, our operating result was a deficit of £1.998M which was £181.969 more than the previous year. mainly due to additional staff costs driven by the 10% increase in minimum wage levels. It should also be noted that the bottom line def icit includes an unreali5ed loss from our investments of £75.272: which is an accounting record of the snap shot valuation of our investments at year end. INCOME Income: £3.58M Total incorne streams lex legacies) received in year were £1.889,574 which was ahead of the previous year by £163,248. Fundraising income overall was down by £46k as supporters deal with the personal irnpact of the cost of living challenge. LeEacles Hi9hlights'. Double donations campaign was our most successf ul appeal. raising over £127k Use of our Boarding service continues to grow (£232,973), a5 the Bedfordshire centre increased our capacity The two new high street shops generated an additional £185.000 in incorne in their f irst f ull year Fundraising 47% 6% Animal Servi¢Ès Commercial Total income linc Legacies) of £3.58m is a decrease of 8% on the previous year. LEGACIES During the year. the Trust had a legacy income pipeline of £1.69 million compared with £2.14 million in the previous year. Legacy income accounted for 47% of our total income which is a decrease on the previous year, but this reflects the year on year reduction in the legacies received rather than a large increase in other income streams. Legacy income is made up of the actual legacy income received during the financial year and an amount accrued for estates where notification of the amovnt has been received but fflonies had not yet been paid. £2.24 million of the accrued monies still has not been received by July 2025. The legacy pipeline is currently sitting at circa £2.79 million
National Anirnal . V Welfare Trust Financial Overview EXPENDITURE Expenditure is well controlled by the Centre Managers and every penny spent is thought through. Expenditure (ex Dep): £3.8M Total expenditure rose from £4M in 23/24 to £4.95M1+22%1 mainly due to additional 'one of, hit to depreciation after a review of our fixed assets 1+£778k vs last yearl. General costs continue to rise. in particular staff costs. which were driven by another IO% rise in the national minimum wage. staff costs Animal care & Vet costs Fundrai51ng io% Highlights Payroll,. 15 by far our largest Cost al £2.6M170% of total expenditure exc depreciation). We have seen an increase in staff leaving due to better pay elsewhere as the impact of the c05t of living crisis continves to bite. Payroll costs rose by 10% and minimum wage levels are planned to increase by 7% again next year. Utilities 70% Other costs The deficit for 2024/25 of £1,401,039 means that as at the 31st March 2025, the Trust held total funds of £8.322.766 {£9.723,805 as at 31 March 2024). Light & Heat,. our fixed term contract was renewed which allowe(4 us to find a cheaper ¢Je81 for our utilities. Although still up f rom the pre Ukraine war level of £76k. our costs have reduced from last year down to £125k per year. However, the majority of those funds are held in fixed assets and restricted funds totalling £4.6m or 55%. The cash & cash equivalents held at the end of the year were £885.582 External vet5- Vet costs are our second largest expenditure. A5 well 85 the diff iculty in secvring veterinary support. Costs f or all treatments and drugs have risen signif icantly to £214,0091+£18k on the previous yearl, We expect to see veterinary costs continue to rise unless ovtputs from the CMA led vet pricing investigation are clear.
National Animal . Z Welfare Trust Looking Ahead In September 2024, the Trustees met and agreed our strategy and focus for the next three year business plan cycle. Our three key objectives are: Specific deliverables for next year will be: Open at least one new shop Identify future physical estate requirements Implement the development plan for our Hertfordshire Centre Apply for planning permission for a new admin building at our Bedfordshire Centre Implement our new animal welfare journey across all Centres Develop an outreach programme to help animals out in the community Create a strategic approach for Events Introduce tracking to record animals 'helped' not just rehomed Investigate options for employee wellbeing Embed consistent approach to induction for all new employees Implement new Financial software and processes
National Animal . V Welfare Trust Charity Information/Contacts INDEPENDENT AUDITORS NAWT HEAD OFFICE NAWT HERTFORDSHIRE CENTRE National Animal Welfare Trust Head Office Tylers Way Watford-By-Pass Hertfordshire WD25 8 Tel.. 020 8950 0177 (option 11 Moore Kingston Smith LLP 4 Victoria Square St Albans AL13TF NAWT Hertfordshire Tylers Way Watford-By-Pass Watford Hertfordshire WD25 8WT Tel= 0208 950 0177 loption 2) COMPANY NUMBER 4251503 NAwf BEDFORDSHIRE CENTRE NAIW CORNWALL CENTRE CHARITY NUMBER 1090499 NAWT Bedford5hire Glebe Farm Salford Road Aspley Guise Milton Keynes Bedfordshire MK17 8HZ Tel.. 01908 584000 NAWT Cornwall Wheal Alfred Kennels Wheal Alfred Roa¢J Hayle Cornwall TR27 5JT Tel: 01736 756005 SOLICITORS Withers LLP 16 Old Bailey London EC4M 7EG BANKERS National Westminster Bank 317 Hale Lane. Edgivare HA8 7AX NAWT ESSEX CENTRE NAWT Clacton The Street Little Clacton Clacton-on-sea Essex C016 9LG Tel.. 01255 860062 BUSINESS ADDRESS Tylers Way Watford-by-pass Watford Hertf oidshire WD25 8WT NAWT BERKSHIRE CENTRE NAWT Berkshire Trindledown Farm Wantage Road Great Shefford Berkshire RG17 7DQ Tel.. 01488 638584 REGISTERED OFFICE Tylprs Way I ', Watford-by-pass Wotford Hertfordshire WD25 8Wt www.nawt.org.uk
National Animal Welfare Trust Year ended 31 March 2025 Trustees, statement Statement as to Di$¢lo$ure of Infomiatlon to Auditors The Trustees who were in Offi on the date of approval of these financial statements have confirmed. as far as they are aware, that there is no relevant audit infonnation of which the auditors are unaware. Each of the Trustees has confirmed that they have taken all the steps that they ought to have tsken as Trustees in order to make themselves aware of any relevant audit information and to establish that is has been communicated to the auditors. Statement of Trust••s' responsibllftles The trustees (who are also Directors of National Animal Welfare Trust for the purposes of company law) are responsible for preparing the Trustees, report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare accounts for each fi'nancial year which give a true and fair view of the state of affairs of the charty and of the incoming resou$ and application of resource, including the income and expenditure, of the charrtable company for that year. In preparing these financial statements, the trustees are required to.. Sele¢t suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP. Make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charttable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company snd hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees approved this Report and the Strategi¢ Report in their capacsty as Directors on 20 202 S and signed on their behalf by: John Garratt Trustee Caroline Thomlin Trustee on Page 15
National Animal Welfare Trust Year ended 31 March 2025 Independent audltor's report to the members of National Anlmal Welfare Trust Oplnlon We have audited the financial stalements of National Animal Welfare Trust ('the company'> for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the statement of Cash Flows and notes to the financial statements. including a summary significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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.. gtve a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepled Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2008. Basis for oplnlon 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial ststements 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 appropriale to provide a basi5 for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the twstees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's abilty to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the twstees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. 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 fomi of assurance conclusion thereon. Our responsibilty is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detennine whether there is 8 material misstatement in the financial statements themselves. If, based on the work we have perfomied, 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. Page 16
National Animal Welfare Trust Year ended 31 March 2025 Independent auditorfs report to the members of National Animal Welfare Trust Opinions on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the Vrk undertaken in the course of the audit.. the infomiation given in the Trustees, port for the financial year for which the financial statements are prepared is consistent with the financial statements,. and . the trustees, annual report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit. we have not identified material misstatements in the trustees. annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: ' adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the infomiation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 17, 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 intemal 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. In preparing the financial statemerrts, the trustees are responsible for assessing the charitable CoMpanS ability to continue as a going concern. disclosing, as applicable, matters related to going concem and using the going ¢on¢em basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 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 auditorfs 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 rf, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Page 17
National Animal Welfare Trust Year ended 31 March 2025 Independent auditorfs report to the members of Natlonal Animal Welfare Trust As part of an audit in accordsnce with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufFicient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the oveIde of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable companrfs internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtsined, whether a material uncertainty exists related lo events or conditions that may cast signrficant doubt on the charitable company's abilty to continue as a going Concern. If we conclude that a material uncertainty exists, we are required to draw attention in our audrtor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going ¢on¢ern. Evaluate the overall presentation, structure and conlent of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in 8 manner that achieves fair presentation. We communicate wtth those charged wtth govemance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant defi'ciencies in intemal ontrol that we identfy during our audit. Explanation as to what extent the audit was considered capable of detecting irregularities. including fraud Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. OLrtlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularikn'es. including fraud is detailed below. The objectives of our audit in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud. to obtsin sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. Page 18
National Animal Welfare Trust Yew ended 31 March 2025 Independent audltofs r•port to tho m•mber8 of Natlonal Anlmal W•lfare Trust Our awjroach was a8 follo. We obtalned an undèr8tsndlng of the legal and regulatory requirements appiic8ble lo the charflable ttjmpany aF nSIdered that the rnost signlfflcant are thè Companies Ad 2008, the Charilie8 Aot 2011, the Charity SORP. and UKfinan¢i81 reportry standards as Issued ty the Fin8n(ial Reporting Council. We obtalned an understanding ol how thè charitable company TrpIlO1 wlth these requlrgmonts by dI8¢wSonS wth management and those charged with govemanca. We 885essed the rlsk of mal8ri81 rnisststement of thè flnancial slatemenls, ineluding the ri$k of material misstatement due t¢ fraud and how It mighl occur, by IKJkln9 di$cu88ions with management and Ihosè charged with governance. We tnqulred of management and those charged with wvemance as to any kn+¥n instance$ of no ¢omplionce or 8u$peGted non-¢ompliance wilh laws and regLdati¢)ns. Bas on Ihls undeislanding, we designed specific apprcyrlate audit procedures to Idfrnbfy instan9 of no compliance with laws and regulatlons. Ttis indudad making enquiries ol management and those Gttard ith governance and obtaining addttional Corr0tratIVe evidence as réqulred. There are inherent limitalions in the audit procedures described abovo. We ar? less Ilkely lo become aware of Instances of non-compllance wlth laws and regulaflons Ihat are not closely related to events and tran$a¢tlons reflected in tho financial statement$, Also. the iisk of not deteGting a matgrial mlsslatement due to fraud is highfrr Ihan the rfsk of not detedlna one msulting from gffor, as fraud may invofve d8llberate ¢oncoaiment by, for examp16, forgwy or inlentional mlsrepresentatlons, or through colknslon. Use of our report Thls report is rnade solely to th¢ cttarltsble company's membeTS, a8 a body, In accordancé wtth Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has be6n undertaken so that W8 might slat8 to the company's mombers Iho8e matt8rs we are rgquirod to slate to them in an audilorfs roport and ft)r no other purpo$e. To the fulesl extent pgrmillgd by law, we do not aceepi iy assum6 responsibility to any party other than the charitable company and charltable company's members as a body. for our 8udlt work. for this r•port, or for the opinlons we hav• fonngd, Roger Og (Senlor Ststulory Audltor) foi and on be173lf of Moorè Klngston Srnith LLP 4 Vlctoria Square st Abans Hertfordshlre AL13TF Page 19
National Animal Welfare Trust Statement of Financial Activities for the year ended 31 March 2025 Unrestricted Restrlcted Funds Funds Total Unrestricted Restrlcted 2025 Funds Funds Total 2024 Note.. Income from: Legacies 1.490,046 197,767 1,687,813 1,499,425 644,733 2,144,158 Donations 2a 673,270 64,601 737,871 751,026 37,630 788,656 Charitable aclivities 2b 555.187 555,187 535,629 2,117 537.746 Other trading aGtivilies 2c 528,722 528,722 356,508 2,403 358,911 Investment income 2d 64,590 64.590 41,013 41,013 Other 2e 3,204 3,204 Total 3,315.019 262,368 3,577.387 3,183,601 686,883 3,870,484 Expendltum on: Raising funds 1,099,523 1,099,523 753,793 753.793 Charitable activities 3,352,008 451,823 3.803.631 2.267,482 988.309 3,255,771 Total expenditure 2f 4.451,531 451,623 4,903,154 3,021,255 988,309 4,009,564 Unrealised gainlooss) on investments (75,272) (75,272) 108,307 108,307 Net incomol(expèndlture) 11,211,7841 <189,255) (1,401,039) 270,653 {301,426) (30,773) Transfers between funds 9110 68.385 (68,385} Net movement in funds 1.211,784 189,255 1.401,039 369,811 30.773 Reconclllation of funds: Total funds brought forward 10 9.342,536 381,269 9.723,805 9,003.498 751.080 9.754,578 Total funds carried forward 8,130,752 192,014 8,322,766 9 342,536 381,269 9.723.805 The charitable Company's income and expenditure all relates to continuing operations. The notes of pages 23 to 35 fomi part of Ihese financial statements. P8ge 20
National Anlmal Welfare Trust Balance Sheet at 31 March 2025 Company number: 04251503 31 March 2025 31 March 2024 Notes Fixed assets: Tangible fixed assets Tangible assets investments Listed Unlisted 3.940,598 4,942,474 1.540,276 10 1,615,548 10 1.540.286 1.615,558 Total red assets 5,480,884 6,558,032 CuThent assets: Stock Debtors Cash and cash equivalents 25,892 2,256,583 885.582 3.168.057 23,197 2,589.517 1,190,094 3.802.808 Liabilities: Creditors: Amounts falling due within one year (326,175) (288,542) Net current assets 2,841,882 3,514,266 Creditors". Amounts falling due after more than one year 7a (348,493) Total net assets or liabilities 8,322,766 9,723,805 The funds of the Charity: Restricted funds Unrestricted funds: Fixed asset funds other designated funds General Funds 192,014 381,269 10 10 10 3.940,598 666,054 3,524,100 4,942,474 174,142 4,225,920 Total Charity funds 8.322,766 9,723,805 acco nts on pages 20 to 35 were approved and authorised for and signed on their behalf the Board of Trustees on 20 IlL4L4&k 2u2S Joh Garratt Trustee Caroline Th Trustee mlinson Page 21
National Animal Welfare Trust Statement of Cash Flows for the year ended 31 March 2025 2025 2024 Notes Cash flows from operating actlvltles: Net cash (OLrtfiow)linflow from operating activities 16 90,829 1,012.172 Cash flows from investing activiti•s'. Dividends and interest received Purchase of tangible assets Proceeds from sale of investments Purchase of investments Net ¢8sh provided byl(used in) investing activities 64,590 (89,126) 41,013 (450,439} {50,000) {24,536 {459,426} Cash flows from financlng activities: Cash inflows from new borrowing Repayment of borrowings Net cash provided by financing activities (370,805) {3,619) (370,805 (3.619 In¢reasel{decrease) In cash and cash oquivalents in the year 1304,512 549,127 Cash and cash equivalents at the beginning of year 1.190,094 640,967 Cash and cash equivalents at the end of the year 885,582 1.190.094 Page 22
National Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2025 1. Accounting policies 1.18asis of preparation These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), 'Accounting and Reporting by Charities the statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice (effective 1 January 2019). The company is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling. which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on the historical cost basis with the exception of listed investments which are included at market value, and in accordance with applicable United Kingdom accounting standards. The principal accounting policies adopted are set out below. 1.2 Golng Concern The Trustees are of the opinion that the organisation has adequate resources to continue to operate for the foreseeable fLrture, being not less than one year from the date of approval of these financial statements. For this reason, the Trustees believe it is appropriate to prepare the financial statements on a going concem basis. 1.3 Incomlng resources Donations, Subscriptions, sponsorship, fundraising and appeals, and sales of donated goods are recognised upon receipt. Investment income, includin9 rental income is recognised on an accruals basis. Income generated from charitabl8 activities is also recognised upon receipt. Legacy income Legacies are included in the statement of financial activities when the charity is entitled to the income, the executors have estsblished that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charty. Entitlement is taken as the earlier of the dates on which either- the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charty that a distribution will be made, or a distribution is recerved from the estate. Receipt of a legacy, in vh)ole or in part, is only considered probable when the amount can be measured reliabty and the charity has been notrfied of the executor's intention to make a distribution. Where legacies have been notified to the charity or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Life interest legacy income is recognised at the date of death of the life interest provided the receipt and value criteria are met. Volunleers and donated goods and services In accordance with the Charities SORP (FRS102). the economic contribution of volunteers is not recognised in the financial statements. Further details of the contribution made by volunteers can be found in the Trustees, annual report. The Trust benefits significantly from donated goods to support our animal care work, in particular donations of food and toys for the animals. benefrt. Currently no record of the value to the charty is maintained and consequently the value of these ttems is not yet included in these statements. The Trustees have identified this as an area for attention and management are currently developing a system to facilrtate the recording and valuing of these items. Page 23
National Animal Welfare Trust Notes to the flnanclal statements for the year ended 31 March 2025 1. Accounting policies (continued) 1.4 Resources expendad Expenditure is recognised when a liability is incurred. Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. Contractual arrangements are recognised as goods or services are supplied. Costs of raising funds are those costs incurred in attracting voluntary income. including the costs of ensuring that we receive our full entitlement to any legacy income. Charitable activities include expenditure associated with its animal rescue and re-homing work and includes both the direct costs and support costs relating to those activities. Governance costs include those incurred in the governance of the Charity and its asset5 and are primarily associated wrth constitLrtional and statutory requirements. Support costs include central functions and have been allocated to activty cost categories on a basis consistent with the use of resources, this is done on the basis of staff time attributed to each a¢tivty cost category. 1.5 Fund structure The Trust has a numb•r of restricted fvnds to account for situations where a donor requires that a donation must be sp8nt on a particular purpose or where funds have been raised for a specifi¢ purpose. All other funds are unrestricted income fvnds. The Trustees have made a number of designab'ons to better reflect tt)e funds structure of the charity- Unrestricted funds raised by our local voluntary support groups are designated to show the extent of their indivtdual Gontributions to our work. Legacy income dedicated (but not restricted) to a particular animal ¢entre is d•signated towards the costs incurred at those centrès. 1.6 Group flnanclal statements The subsidiary AWT Trading Limited remains dormant and not material to the charty tharefore nSo11dated accounts have not beén prepared in accordance with paragraph 24.12 of the SORP. The investrnent in Ihe subsidiaries is shown as a fixed asset investment. 1.7 Pension Costs Defined contribution pension costs are charged to the Statement of Financial Activtknes in the period to which they relate. Differences between contributions payable in the year and contributions actually paid are shown as either prepayments or accruals in the balance sheet. The assets of the pension scheme are held seperately from the Charty. 1.8 Fixed asset investments Listed invesknents are stated at mid-market value. at the balan¢e sheet date. Unlisted investments are valued by the Trustees at fair value. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year. 1.9 Tangible fixed assets Tangible fixed assets, other than freehold land are stated at cost less depreciation (IT equipment over £1.500 and all other equipment item over £3,000 only are capitalised}. Depreciation is ¢al¢ulated so as to write off the cost, less estimated residual value of each asset over its estimated useful life, on a straight line basis. as follows.. Freehold improvements Equipment Motor vehicles 4 to 20 years 4 years 4 years Page 24
National Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2025 1. Accounting policies (continued Freehold land has not been depreciated as, in the opinion of the Trustees, any charge would be immaterial since residual value exceeds cost. Annual impainnent reviews are conducted in accordance with Financial Reporting Standard 102 paragraph 17.24. In the year ended 31 March 2025, the estimate on useful economic lives of freehold improvements had been revised, in order realign all of the freehold improvements useful economic lives to a maximum of 20 years (previousty some of the freehold buildings were depreciated over 30 years). 1.10 Stock Stock is included at the lower of cost and net realisable value. Net realisable value is based on estimated selling price less additional costs expected to be incurred to completion and disposal. Provisions are made for obsolete and slow moving items. 1.11 Flnanclal Instruments The Trust has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Other Financial Instruments issues, of FRS 102 to all of f(s financial instrument. The Trust has only financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised 81 transaction value and subsequently measured at their settlement value. 1.12 Leases Rentals payable under operating leases are Charged against income on a straight line basis over the lease tem. 1.13 Cash and cash equlvalents Cash and cash equivalents include cash at hand, deposits held on call wÈth banks, other short term liquid investments with original maturities of 3 months or less and bank overdrafts. Page 25
National Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2026 2. Crltical accounting estlmates and judgements In the application of the charity's aGcounting policies, the Truste8S 8re required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The Trustses are required to make estimates in respect of legacy income. The basis of recognition is provided within the incoming resources accounting policy above (see policy 1.31. In addition there is an estimate relating to the value of the Moody Bare Trust. The estimation of the debtor value is based on the rent completed transactions to ests'mate the value of each lease. 2a Income from Donations Total 2025 Totsl 2024 Unrestricted Dog Warden Paddock Hire (field hire services) Donations Individuals-Unre5tricted Donations Trust - Unrestricted Subs Sponsorship -unrestricted Sundry Income Fundraising Appeals - Unrestricted 1,941 7,723 463,729 13,706 1,767 14,187 2,714 167.503 673.270 1,212 7.070 508,489 47,292 3,177 15,820 1,124 166,842 751,026 Restricted Thurrock Restricted Donations Individuals-Restricted Fundraising Appeals-Restricted Donations Trust-Restricted 1,933 3,135 697 35,000 37.630 61,486 64,601 Total Donations 737,871 788,656 2b Income from Charitable actlvltles Unrestricted Restricted Funds Funds Total 2025 Unrestrktgd Re8trld•d Total 2024 Funds Fund$ Commissions and royalties Sales from animal related goods Homing 66.522 302,445 186,220 555.187 66.522 302,445 186.220 555,187 62,294 249,809 223,526 535,629 2,117 64,411 249,809 223,526 537,746 2,117 2c Income from Other trading activities Unrestricted Restricted Funds Funds Total 2025 Unrestricted Restrlclod Total 2024 Fundg Fund• Rent receivable Charity shop Sale of donated goods 20,340 16,406 491,976 528,722 20,340 16,406 491,976 528,722 22,626 235,248 98.634 356,S08 22,626 235,248 101,037 358,911 2,403 2,403 Page 26
National Animal Welfare Trust Notes to thfr financial statsmfrnts for the year ended 31 Mar¢h 2025 2d Incomo from Investm•nts Unrgstrlctad R•slrlclgd Funds Funds Tolal 2026 UnTestrlcted R95trlctgd Fund$ Funds Tolal 2024 Dividends and interest recelved 64,590 64,590 64.590 64,590 41,013 41,013 41.013 41,013 20 Oth&r Incomo Unre$trl¢ted Restrlctsd Funds Funds Total 2025 Unrgstrl¢tgd Restrl¢t•d Funds Funds Total 2024 other miscellaneous Income 3,204 3,204 3,204 3,204 2f Expendlturo Support & Dlrg¢t Staff Oth•r dlro¢t Govèrnance ¢osts costs Costs Total 2025 Raoslng fvnds Fundraising. publicity & other Charitsble activitlp5 Anlmal rescue and re.homing 503,808 163,504 432,211 1,099,523 1,882,515 2,386,323 289,265 1,631,851 452,769 2,064.062 3,803,631 4,903,154 Support & Dlroct staff othgr dlrnct Govornance ¢o$ts Costs Total 2024 Raigin9 fund3 Fundralslng, publicity & other Charltabjè a¢Uvltlgs Animal rescue and re-homlng 404.682 145,755 203.356 753,793 1,841,700 311,087 1,102,984 3,255,771 2,246,382 456,842 f,306,340 4,009,554 Included in CharTtable activities is restricted expenditure of £451,623 (2024.. £988,309). Support *nd Govemance costs Charitabl• attiviti•s Raislng fund5 Tolal 2025 Charltablg a¢tlvltlos Raitsing lunds Total 2024 Staff costs Premlses costs Motor expenses Office costs IT costs Professional fees Bank charges Sundry expenses Depreciation Govemance 172,716 273.989 19,708 98,762 53,4S2 52,634 22,098 48.013 72.993 5,250 26.311 14,240 14,022 5,887 218.729 346,982 24.958 125,073 67,692 66,656 27.985 164,668 280,727 21,530 105,834 44,893 44,924 38,668 331 312,818 88,791 1,102.984 36,183 200,851 81.885 342,412 4,731 26,261 23,255 129.089 9,820 54.513 2.873 47.797 9.872 48,540 8,633 8,964 73 312,891 46,231 135,022 203,356 1,306,340 848,810 94,981 1,635,152 244.192 1.091,002 94,981 428.910 2,064,062 Governance ¢o¥ts comprlse.. 2025 2024 Staff costs Audit other governan costs 59,869 16,050 19,062 57,544 15,947 61,531 94,981 135.022 Page 27
National Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2025 3. Staff costs 2025 2024 Administration Social security costs - admin Animal care Social security costs - animal care Shops Social security costs - shops Pensions Other Staff Costs 523,058 53,475 1,622,876 115,181 213,970 13,990 51,347 71,024 485,560 48.785 1,618,401 108,066 133,919 7,983 49,986 52.079 2,664.921 2,504,779 3.a Staff numbers 2025 2024 No. Administration Animal care Shops 16 85 15 16 91 15 118 122 The number of ernployees whose annual emoluments were £60,000 or more were.. 2025 2024 £70,001- £80,000 £90,001- £100,000 £100,001- £110,000 Pension contributions were £6,939 £6,714 Remuneration totalling £210,060 {2024.. £199,940) was paid to 3 key members of management {2024.' 3) Termination payments of £23,384 were paid in the year ending 31 March 2025 (2024: £nil) and total redundancy payments made were £5,756 (2024: £nil) Page 28
National Animal Welfare Trust Notes to the financial ststements for the year ended 31 March 2026 4. Tanglble red assets Freehold land & building improvements Equipment Motor vehicles Total Cost At 1 April 2024 Additions Disposals 7.485,245 39,846 (1,532,635) 368.797 7,000 (309,869) 142,491 7.996,533 42,280 89,126 (34,699) (1,877,203) At 31 March 2025 5,992,456 65,928 150,072 6,208,456 Depreciation & Impairnients At 1 April 2024 2,579,009 Charge for the year 1,047,170 Eliminated on disposal (1,532,635) 342.783 23.038 (309,869) 132.267 3.054.059 20.794 1,091.002 {34,699) (1,877.203) At 31 March 2025 2,093,544 55,952 118,362 2,267,858 Net book value At 31 March 2025 3,898,912 9,976 31,710 3,940,598 At 31 March 2024 4,906.236 26,014 10,224 4,942,474 Page 29
National Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2025 S. Investments 2025 2024 Llsted Mafket value of assets at 1 April 2024 Opening balance rounding Unrealised net gainsl(losses) Net Additions l{Disposals} 1,615,548 1,457,240 {75,272) 108,307 50,000 Market value of assets at 31 March 2025 1,540,276 1,615,548 Unllsted AVVT Trading Limited 10 Ordinary £1 shares at cost 10 10 10 10 AWT Trading Limited is a dormant subsidiary undertaking 6. Debtors 2025 2024 Other tax and social security other debtors Prepayments & accrued income Accrued legacy income 23,897 276,263 82,730 1,873,693 28,618 251,099 59,239 2,250,561 2,256.583 2,589,517 Other debtors include £239,771 (2024.. £220,635) relating to long term debtors. 7. Credltors: Amounts falling due within one year 2025 2024 Trad& creditors Other creditors Accruals Other tsxes and social security Loan 119,375 123,100 43,703 39,997 78,836 63,040 88,867 34,941 22,858 326,175 288,542 7a. CredIto. Amounts falling due after more than onè year 2025 2024 Loan 348,493 348,493 The loan was repaid in full during the course of the year. Page 30
National Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2025 8. Net assets held by funds Tangible fixed assets Bank and cash Other net Assets Total 2025 Current Investments Restricted funds: Thurrock Cornwall Feral Cat Plan 192,014 192.014 Unrestricted funds: Desi aled funds Moody Fund Thurrock Building Fund Fixed Asset Fund 96,122 69,932 500,000 96,122 69,932 500,000 3,940,598 3,940,598 General unrestricted funds.. General funds 1,540,286 693,568 1,290,246 3,524,100 1,540,286 3,940 598 885 582 1956,300 8,322 766 Net assets held by funds 2024 Tangible fixed assets Bank and cash Other net Assets Total 2024 Com aratlve ear Investm•nts Restricted funds: Thurrock Comw811 Feral Cat Plan 231,538 231,538 51,754 97,977 51,754 97,977 Unrestricted funds: Desi nated funds Moody Fund Thutrock Fixed Asset Fund 96.122 78.020 96,122 78,020 4,942,474 4.942,474 General unrestricted funds.. General funds 1,615,558 958,556 1,651,81 4,225,920 1,615 $58 4 942 474 1190094 1975,679 9 723 805 Page 31
National Animal Welfar8 Trust Notes to the financial statements for the year ended 31 March 2025 9. Restricted Funds Current Balance 01-Apr-24 Incoming Resources resources expended Balance 31-Mar-25 Transfers Thurrock Cornwall Berkshire Bedfordshire Essex Feral Cat Plan Hertfordshire 231,538 51,754 24,000 127,462 63,762 33.602 7.542 (63,524) (179,216) {63,762} {33.602) (7,542) {97,977) (6,000) 192.014 97,977 6,000 381269 262,368 451623 192 014 Prlor Year Balance 01-Apr-23 Incomlng Resources resources expended Balance 31-Mar-24 Transfers Thurrock Cornwall Berkshire Bedfordshire Essex Feral Cat Plan Hertfordshire 347,430 110.845 7.650 517.432 113,565 48,236 (55.157) (576,523) (113,565) (48,236) {74,828) {120,000) (68,385) 231,538 51.754 74,828 217,977 97,977 751,080 686,883 988 309 68,385 381,269 Thurrock The balance represents legacy income received in the past specifically to fund the work of the Thurrock branch less expenditure incurred at Thurrock in the year. Incoming resources include fundraising activities to generate funds needed localty. Resources expended related to the costs associated with running the local animal rescue activty. A transfer has been made betweèn unrestricted to restricted funds to reflect bank interest due to Thurrock. Feral Cat Plan In September 2015 the Tnjstees of the National Animal Welfare Trust agreed to take over the work of Feral Cat Plan to allow continued care of feral cats in the Hertfordshire and Essex area. whilst also supporting people in the local Communty. Other funds relate to specific restricted legacies that were received and applied to particular centres. Page 32
National Animal Welfare Trust Notes to the flnanclal statements for the year ended 31 March 2026 10. Unrestricted funds Current ar Balance 01-Apr-24 Incomlng resources Resources expended Gains and Transfers Balance 31-Mar-25 Designated funds Supporter Groups.. Thurrock 78,020 96,122 (8,088) 69,932 96,122 500,000 3,940,598 Moody Fund Building fund Fixed Asset fund 500,000 89.126 4,942,474 (1,091,002) 5,116.616 {1,099,0901 589,126 4,606,652 General funds 4,225,920 3,315,019 3,352,441) {864,398) 3,524,100 Total funds 9 342.536 3,315,019 4,451,531 75,272 8,130,752 Com rative ear Balance 01-Apr-23 Incoming resources Resources expended Gains and Transfers Balance 31-Mar-24 Designated funds Supporter Groups". Thurrock 7,797 95,655 7.149 467 (5.311) 68,385 78,020 96,122 Moody Fund Building fund Fixed Asset fund 4,851,085 (359,050) 450,439 4,942,474 4,954,537 7,616 (364,361 518,824 5,116,616 General funds 4.048,961 2,656,894 342,132 3,175,985 4,225,920 Total funds 9 003 498 3.183,601 3 021,255 176 692 9 342,536 Moody Fund - this represents the Trust's share of some long-term assets that were bequeathed to the charty from the Estate of Ethne Pauline Moody, and which are currently being held in a "Bare Trust. whilst they are realised. Supporter Groups - the incoming resources arose as a result of local fundraising activities by our voluntary supporter groups and the resources expended related to sums spent on the animal welfare and rescue work of the charity. Flxed Asset Fund - this fund represents the net book value fixed assets at 31 March 2025. The net book value of the fixed asset fund St the 31 March 2025 is £3,940,598. This depreciation charge for the year of £1,091,002 includes a historical adjustment of £747,323.67 as result of the change in accounting estimate for useful economic live5 of freehold improvements as described in note 1.9. As of 31 March 2025. all freehold improvements have a maximum useful economic life of 20 years and the historical adjustment accounts for the depreciation that should have been recognised in prior periods. Bulldlng Fund - this fund is for major building improvements needed at the cenlres. Page 33
Natlonal Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2025 11. Pension costs During the period defined contribution pension costs amounting to £51.347 (2024.. £49,986) were paid over to the independently administered pension schemes. As at 31 March 2025 there were no outstanding contributions {2024.' £nil). 12. Trustees, expenses and remuneration Trustees received no remuneration (2024.. £nil). No Trustees {2024: 0 Trustee) were reimbursed for their travelling expenses. 13. Company infomiation The company Is limited by guarantee and has no issued share capital. The liability of the members is limited to £1. 14. Flnancial commitments As at 31 March 2024, the company was committed to making the following payments under non-cancellable operating leases: Land & Buildings 2025 2024 Oth•r 2025 2024 Within 1 year 2-5 years Over 5 years 70.833 69,250 165,750 10,040 35,376 10,320 38,984 6,432 55,736 70,833 235,000 45,416 15. Contlngent Assets In addition to legacy income iecognised in the SOFA. on the 30 June 2025 the Charity had been notified of 9 residuary legacies (2024= 11) with a totsl estimated value of £1.056 million (2024.- £1.096 million). These legacies do not satisfy the criteria relating to the probability andlor reliable estimate required by our accounting policy to recognise the income during the year. They are therefore disclosed here as a contingenl asset. 16. Related party transactlons There were no related paty transactions in the financial year 2024r25. Lynley Griffith, Trustee of NAwf until October 2024. acted as a Health & Safety Consultsnt in a professional capacty for NAWT during the previous financial year 2023124, receiving £1,363, with owing nil at the 31 March 2024. Page 34
National Animal Welfare Trust Notes to the financial statements for the year ended 31 March 2025 17. Reconciliation of net incoming resources to net inflow from operating activities 2025 2024 Net deficit for the reporting period (1,401,039) (30,773) Adjustments for.. Depreciation Unrealised (Gains)Ilosses on investments Dividends, interest and rents from investments (Increase) in stock Decreasel(Increase) in debtors Increase in creditors 1,091,002 75,272 (64,590) (2,695) 332,934 59,945 359,050 (108,307) (41,013) (2,642) 847,332 (11,475) Net cash inflow from operating activities 90,829 1,012,172 Analysis of changes in net debt At start of Cash year flows 1,190,094 {304,512) At end of year Cash 885,582 Page 35