COMPANY NUMBER: 0603S040 CHARITY NUMBF.R: 1118277 INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 4LRE Protecting animals, habitats, and our shared future www.internationalanimalrescue.o
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEF.) REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 CONTENTS Page Legal and administrative infonnation Report of the trustees 2- 16 Report of the independent auditors 17-20 Statement of financial activities 21 Income and expenditure account 22 Statement of comprehensive income 22 Balance sheet 23 Cash flow slatement 24 Notes to the financial staiements 25-37
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE tNFORMATION Registered company number: 06035040 Registered charity number: 1118277 Trustees: P G Bennett M.A. {Hons)(Cantab) Dip.Ed. (NZ) - Chair P Cassar BSc(Hons) BDS A Bruce A Maieo Roman President: A Knight OBE BSc(Hons) Chief Executive: G Bruce Bsc (Hons) FCMA, Head of Finance: DRap Registered Office: Lime House Regency Close Uckfield East Sussex TN22 1 DS Statutory Auditors: Sumer Audit Chartered Accountants & Statutory Auditors 2 Si Andrews Place Lewes East Sussex BN7 IUP Principal bankers: The Co-operative Bank plc. 242 Htgh Street Exeter EX4 3QB Investment Advisors: Rathbone Greenbank Investments l O Queen Square Bristol BSI 4NT Page: I
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The Trustees have pleasure in presenting their annual report and financial statements for the year ended 31 st December 20?4. I: Strategic Overview 2024 Impact 9 orangutans reintroduced to the wild ? wild-born orang)ulans to reinlroduced females 19? bears in our Lare 667 animals rescued in Cosia Rica 33 slow lorises reintroduced 94 macaques reintroduced 31.280 mangrove seedlings planted $65 species pri)tected in Balutegi fc)rest (Sumatra) 500/0 reduction in forest loss (Batutegi) ??? young people in educalion 1 .364 i Idlite Iradi S()C i<il iiiedia accounts taken down 300,000 hectares protected Vision & Mission Our Vision: A world without animal suffering, where people and wildlife live in hannony. Our Mission.. To take action to stop animal suffering, protect wildlife and their precious habitats, and address the root causes of cruelty and environmental destruction. Core Values Passionate We do everything in our power to end the suffering of individual animals, conserve species and protect ecosystems. Trustworthy We are committed to using supporters, funds responsibly to deliver effective and long-lasting results. Innnvative We find creative and pragmatic solutions that address the root cause of problems, prioritising the needs of animals, people and the environmenl. Collaborative We work collaboratively with communities, governments and partners to achieve the aims of the charity. CouraEeou% We take on difficult challenges and never give up. Page., 2
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 2: Structure & Governance Stniciur¢ International Animal Rescue (IAR) is a company limited by guarantee and a regislered charity. It is governed by its Memorandum and Articles of Association dated 2 1st December 2006. The Trustees of the charitable company are its trustees for the purposes of Company Law. Throughout this report they are collectively referred to as Trustees. Legal and administrative infonnation set out on page I fornis part of this report. The financial statements comply with current statutory requirements. the Memorandum and Articles of Association, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities. History and Forniation of International Animal Rescue (Limited by Guarantee) On 1st January 2008 the net assets of International Animal Rescue (The Tillyer Foundation) were transferred inlo the company whose new charity number is 1118277. International Animal Rescue was originally registered wilh the Charity Commission in 1989 under charity number 809132, which became dorniant after the change in structure in January 2008. Recruitment of Truslees In accordance with the Articles of Association, the number of trustees shall be no less than three and not subject to any maximum. New trustees may be appointed by ordinary resolution. Every new trustee shall sign in the minute book a declaration of accepiance and of willingness to act as a truslee of ihe Charity. Trustees are recruited as required or when a particular skill gap is identified. Trustees are selected based on what they can contribute to the Charity. Trustees need to be prepared to take an active part in the running of the Charity and therefore need io be able - and willing - to give time to the efficient administration of the Charity and the fulfilmenl of its obje¢lives, Prospective trustees are required to consider whether there would be any possible conflicts of interest if they were io be appointed as a trustee. It is particularly important that the individual is free to make a full contribution to the trustees, discussions and decisions. When recruiting new Charity trustees, the existing trustees ensure they understand the purposes and aims of the Charity, as well as their broader duties and responsibilities as truslees so that they are able to explain to prospective trustees what is required of them. Organisation and Management In tern]s of organisational structure, the Trustees are responsible for the strategic direction of the Charity, governance and charting perforniance against the budget which is prepared annually. Investment decisions regarding the funds of the Charity and decisions regarding expansion into new territories are made by the Trustees. The Chief Executive is responsible for the day-to-day operational management of the Charity, Porting on progress to the Trustees at the scheduled Truslees, meetings. If there are extraordinary issues that need to be brought to the attention of the Trustees, extra meetings are scheduled as required. Page.. 3
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUAIL4NTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The Chief Executive is responsible for maintaining relationships with partner charities, staff management, recommending projects to the Trustees and annual financial perfonnance The Chief Executive is supported by a small management team who are responsible for functional areas within the Charity. These functional heads provide periodic reports for the Trusiees Risk Manaoemeiil The Trustees have prepared a risk assessment document for the Charity. This covers risks regarding data, continuity. succession and liability, The trustees review the major risks to which the Charity is exposed on a regular basis and systems are implemented whenever possible to mitigate these risks, The Trustees believe that there is a satisfactory system of intemal controls which are also reviewed on a regular basis. 3: lffili1te$ 1nd Partncr IAR collaborates with the following independent non-profit organisations thai serve the North American and EU territories with education and inforniation relating to the projects that IAR supports. They also work io raise funds for the projects. International Animal Rescue US (United States) Stichting International Animal Rescue (Netherlands) IAR has built close long-standing collaborative relationships with the following %lrategic implementation partii¢r%, who operate in-country and run the projects. IAR provides funding, collaborative support and technical advice to facilitate the smooth operation of the projects. Yayasan Inisiasi Alam Rehabilitasi Indonesia (YIARI) runs primate protection and conservation projects in Java and West Kalimantan, Indonesia. li works on the illegFal wildlife Irade. orangyutan conservation and adopts holistic, community led programmes to protect and restore habitats, boosting biodiversity and mitigating climate change. Intemational Animal Rescue Costa Rica runs a wildlife protection programme on the west coast of Costa Rica. In addition to rescuing a wide range of wildlife, il also has a prevention strategy, which aims to mitigate threals to fauna, particularly wildlife electrocutions. Wildlife SOS (India) are responsible for managing the Dancing Bear Project in India FPWC (Amienia) rescue and rehabilitate Syrian Brown Bears in Armenia and implement holistic landscape conservation programmes in the richly biodiverse Caucasus Mountains, We are delighted to work with anivor support several other like-minded organisations British Divers Marine Life Rescue (UK) East Sussex Wildlife Rescue and Ambulance Service (UK) Animal Protection Agency- APA (UK) Friendicoes SECA (India) Page: 4
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 4: Our Work Indonesia - Orangutlin Conservation & Habitat Protection Orangutans Rescued (total): 266 Orangutans undergoing rehabtlitation our centre: >60 Orangutans bom to reiniroduced females previousl> at our centre.. 9 Over 90 women in Power of Mama monitoring and patrolling 11.200 hectares. Seedlings Planted: >130.000 212 farners panicipaling in sustainable farniing assistance activities. Problem: Globally, human activity and climate change are having a profound impact on forests and wildlife. Deep peat forests have been severely reduced, removing vital habitat and creating conditions for fires that endanger both people and animals. For orangutans. a keystone species integral to the health of the forests, habilat loss puts their future at serious risk. Populations become fragmented and. potentially, unviable. As their habitat shrinks. there is an increased risk of human conflict. which is a risk to people and puts the orangutans at risk of injury, capture, or deaih. Holistic Solution.. By partnering with YIARI and the Indonesian government, we aim to tackle this crisis at every level rescuing and rehabilitating orangutans, reintroducing them to the wild, protecting and restoring forests, and engaging communities in consernation and sustainable livelihoods. Our strategies align with the UN'S Sustainable Development Goals. ensuring conservalion benefits both people and wildlife. YIARI has impl¢mented a funded management plan to protect a l 00,000 acre deep peat forest, home to around 1,000 wild orangutans, which was threatened by fire. illegal logging, and conversion, To strenhen this proteclion, YIARI have established initiatives like ihe Power of Mama, an all-female firefighting and conservation team, which empowers women through training, leadership. and active roles in habitat protection. Alongside ihis, vital restoration projects rebuild degraded habitats, demonstraling how conservation, climate resilience, and social development can go hand in hand. These programmes are complemented by sustainable livelihood initiatives, such as training in organic and sustainable fanning. These improve land use and yields for local communities while reducing reliaiice on destructive practices like logging and forest clearance. By linking human wellbeing with conservation success, we are building long-terni resilience for both orangutans and the people who share their habitat. 2024 Orangutan Highlights: YIARI'S post release monitoring team recorded lilo wild birtliN from rehabilitated female orangutans. This provcs our long-terni conservation model, in thal rehabilitated orangutans can not only survive but thrive in their natural habitats. In November 2024, Marisa the Orangutan was returned to the wild. She had been rescued in July after her mother was found dead in a community garden, possibly the result of human conflict. Marisa herself was severely injured, but after four months of intensive veterinary care and rehabilitation by YIARI, she was considered fit for release. Her rescue and recovery are a testament to the power of community engagement, demonstrating how involving local people in conservation efforts can lead to lasting, life- saving outcomes Page.. 5
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Habitat Proteclion Case Study - Batutegi Rainforest: Batutegi is an important are of forest in southern Sumatra. Prior to IAR working with YIARI in 2008, this forest had no protection. Early surveys showed that the forest was rich in biodiversity and contained many rare and endangered species, including Critically Endangered Sumatran Tigers. YIARI has implemented a community-led conservation strategy in Batutegi. combining forest patrols. technology-driven SMART monitoring, sustainable livelihood programmes, and education. This proven approach has already reduced forest loss by 50 % and illegal activities by 66%, with wildlife beginning to recover. The forest now has a level of legal protection, and our goal is to reduce illegal activilies by another 300/0, increase key wildlife populations by l 00/0 annually, and expand protected areas through stronger local governance and conservation policies. This case study demonstrates that. by investing in people, we are investing in nature and that when communities are at the heart of the conservalion strategy, there are positive outcomes for both. Indonesia- Slow Loris 29 slow lorises rescued l O individuals directly translocated to protected foresi habitats 33 slow lorises reintroduced to the wild in ?024 Problem: In many regions, the slow loris in is in serious danger of extinction and the greatest threats to its survival are habitat loss and the illegal trade in wildlife. Its huge brown eyes and soft fur make this small nocturnal primate highly prized as a pet and the Viciim of an online craze created by videos on the internet. Slow lorises are poached from the wi Id and illegally sold on the street and increasingly on social media sites. The slow lorises, teeth are clipped offby the traders to make them easier to handle, resulting in the death of many of them from blood loss or infection before they are sold. Once their teeth have been clipped, rescued lorises are no longer able to fend for themselves in the wild. Solution.. Through YIARI, we operate a specialist rescue and rehabilitation centre for slow lorises in West Java. The team work with the Indonesian authorities to provide expert care for individuals confiscated from the illegal wildlife trade. Where possible, rehabilitated lorises are reintroduced to protected forests through a slructured release programme that includes pre-release preparation and post-release monitoring. Those unable to retum to the wild, particularly those with iheir teeth removed, are given lifelong care in enriched sanctuary enclosures. Alongside rescue and rehabilitation: we tackle the trade at its source by running awareness campaigns, supporting law enforcement, and working with online platfornis to remove illegal sales. This combination of direct animal care and systemic change is helping secure a future for slow lorises in the wild. Page: 6
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Slow Loris Highlights - 2024 In 2024, YIARI rescued 29 slow lorises across Indonesia. Ten were healthy enough for immediate translocation to protected forests, while the remainder entered rehabil itation at YIARI'S specialist centre for veterinary care, behavioural assessment, and gradual rewi Iding. In total, 33 slow lorises - including both Javan and Sumatran species - were successfully reintroduced to the wild. Alongside rescue and release, YIARI ran education campaigns in regions like Bogor and West Java to reduce demand for slow lorises in the pet trade and raise awareness of the cruelty involved. Indonesia- Illegal Wildlife Trade & Macaques 24 Macaques reintroduced in 2024 36 arrests & prosecution in IWT 173 investigations in 2024 (50/0 higher than 20?3) 1.293 animal parts confiscated 1.364 seller ac¢ounts taken down Problem: The illegal wildlife trade, estimated to be worth up to $23 billion a year, poses a serioiis threat to couniless species worldwide. In parts of Asia, the plight of long-tailed macaques reflects the brutality of this trade. These intelligenl, social primates are captured from the wild and forced into street ¢nt¢rtainmenl such as topeng monyei (masked monkey perfom]ances), enduring beatings, starvation, and lives of relentless cruelty. Despite declining numbers, long-tailed macaques remain unprotected under Indonesian law. The impact extends beyond individual suffering. Removing macaques from the wild disrupts social groups, damages forest ecosystems where they play vital roles, and heightens the risk of zoonotic diseas¢ transmission. Without stronger legal protections and meaningful enforcement, the Cycle of capture and cruelty will continue, underniining both animal welfare and wider conservation efforts. Solution: We are tackling the illegal wildlife trade with a multi-pronged approach that combines direct intervention, public education, legal advocacy, and collaboralion with law enforcement. In 2024, the Wildlife Protection Unit dismantled 513 wildlife-trading accounts on Facebook alone, significantly disrupting the online trade in long-tailed macaques and other species. Working alongside government agencies and legal coalitions, they strengthened the enforcement of wildlife protection laws and supported prosecutions across Indonesia. YIARI rescued, rehabilitated, and reintroduced 20 long-tailed macaques and 4 pig-tailed macaques in 2024. providing them with a second chance at life in their natural habitat. Partnerships with local authorities, such as BKSDA Jakarta, have created new task forces and public education initiatives, while targeted campaigns and training in West Java and Jakarta are shifting public attitudes and reducing demand for macaques as pets or street perforniers. Page.. 7
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Armenia- Syrian Brown Bears Problem.. Every year wild bears are illegally caught or trapped by poachers in Arnienia. Once captured, most end up in small, barren cages in public entertainment venues including restaurants. holels and roadside zoos. as well as petrol stations and even factories. They are used as a tourist attraction and to make money out of captive breeding. Some are incarcerated for years in filthy, cramped cages with scarcely any food or water. Their environment meets none of iheir psychological or physical needs. They have very little space to move around and exercise and no enrichment to dispel their boredom and frustration. They lack everything they need to live life as nature intended. When we first started working with our local partners, FPWC, it was believed there could be as many as 80 bears kept privately in cages across Arnienia. Solution: Working alongside FPWC, we focus on a holistic approach. we rescue, rehabilitate. and release where possible. FPWC work closely with the government to bring about change and are making great progress to change and enforce laws that help to solve the problem, and work with local people to change mindsets, especially in the face of human-bear conflicts. As part of their rehabilitation, many rescued bears receive vital dental treatment to address severe issues caused by poor diets and years of gnawing on cage bars. A volunteer dental team, led by specialists, regularly visits Annenia to perfomi dental procedures that alleviate the pain they have suffered from their dental problems. As some bears cannot be released, space is vital for us. With nearly 30 bears in the sanctuary, a lot of whom cannot be released, the existing centre built in 2017 is at capacity and there is no more space to expand it further. As such, we have been working with FPWC to build a new centre to increase capacity further and plan to open it during 2025. 2024 Highlight- Retta's Rescue In late 2024, working with FPWC. we rescued Retta, a young female bear found living alone in a cramped cage at a resort, where she was kept as a tourist allraction and fed on sweets and junk food. Years of neglect left her obese, with dental problems and signs of psychological distress. After completing quarantine: Retta was moved to an enclosure with fellow rescued bears Clivey and Bonnie. Under FPWC'S expert care she is slowly rediscovering life as a bear: with access to natural space, enrichment, and companionship. Retta's story is a reminder of the ongoing need for our work in Am]enia. where bears continue to be kept in appalling conditions. Page: 8
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 India- Slotb Bears Problem & Sollltion For more than 400 years sloth bears in India were exploited as danctng bears, first for Mugyhal emperors and later as roadside entertainment for villagers and tourists. In reality, the bears were reacting to excruciating pain. Although the practice was outlawed in 1972. it continued for decades, In 2002 IAR worked alongside Wildlife SOS to build the Agra Bear Rescue Facility, where the first six bears arrived on Christmas Eve. From there the project grew rapidly, and by ?009 we had rescued every dancing bear in India - over 700 bears. The majority are now housed ai Agra, with others cared for at sanctuaries in Bannerghatta and Bhopal. Our work did not end wilh the rescues. We remain commitled to providing these bears with a safe haven where they can live free from fear and pain for the rest of their lives. Alongside food and shelter, they enjoy climbing trees, bathing pools. and enrichment activilies that keep them mentally and physically slimulated. They also receiv¢ regular medical and denlal care, ensuring they remain healthy in their retirement. Ca8L siiidi. A Sad GoodbN'c to Rose In April ?024 we were saddened by the loss of Rose, a survivor of a cruel metal jaw trap that had cost her a forepaw. Despite her remarkable resilience, the strain of living with her disability led to severe complications, and she was later diagnosed with advanced tuberculosis. Wilh dedicated care from our veterinary and keeper teams, she was kept comfortable unlil the end. Though her time with us 'aS short, Rose's spirit remains an inspiralion and a reminder of the importance of providing the highest standard of care to every rescued bear. Costa Rica: Howler Monkeys & Local Wildlife Problem Every year hundreds of howler monkeys and other wild animals in Costa Rica are electrocuted on uninsulated power lines and transforniers. In fact, electrocution is the number one killer of howler monkeys in Costa Rica. Most electrocutions occur in rural areas. Sadly, the monkeys don't know the difference between electrical wires and natural vines and will often travel across wires to gel lo feeding grounds. This is a particularly serious issue in areas of deforestation where monkeys have no choice but to travel on the wires. Most of the howler monkeys that survive electrical burns are infants that were clinging to their mothers when they were electrocuted. The mother absorbs most of the current while ihe babies suffer bums on their hands, tail and any other body part in direct contact with her. Some are lucky enough to escape with only minor bums. Page: 9
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Solution Resciii fate IAR Costa Rica's emergency response team of staff and volunteer rescue victims of this cruel Adult animals that need ongoing care are quarantined for a period of time before being moved to outdoor enclosures w'here ihey continue to be monitored and receive medical evaluation. Infant howler monke)'s are raised in the centre's nurserv until they are ready to move to outdoor enclosures. The aim is to then create troops in preparation for their return to the wild. After rehabilitation and veterinary assessment, animals that can be released are released into a remote forest site wher¢ they can live a health>', naiural life. I'l i'l L | 1114 111 Through grassroots campaigns, we push the government. local auihorities, and electric companies to insulate dangerous power lines and prolect howler monkeys and other arboreal species. In 20?4, we successfully pressured local electricity companies lo remedy six high-risk areas. We also launched an interactive app, enabling local communities to report electrocution hotspots and speed up interventions. Ai ihe same time, our advocacy, alongside oiher groups. helped secure a landinark government decree IiiKllI(liil illLI 1% i lil l i IL %iil LIN. IiiL'LISLlI'LS for new power installaiions and crossings. Case Study- Estrellita In 2024 we highlighted the story of Estrellita which went viral on social media with over 30 million views across social media platforn]. Estrellita's moiher was electrocuted by uninsulated power cables with Estrellita clinging onto her mother's back. Her mother unfortunately passed away but miraculously Estrellita survived. Unfortunately, Estrellita's story is far from uncommon, but it highlights the ever- present dangers faced by countless wildlife in Costa Rica due to rapid urban development. Against all odds, following a long process of rehabilitation, Estrellita was released with a small group of other rehabilitated howler monkeys back into the forest. Page: 10
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 5: 2025 Outlook & Future Plans Looking ahead into 2025 and beyond. we aim to continue to grow our fundraising programme to be able to support growth in our projects and protect even more animals. Risks from the cost of living crisis continue, however these are starting to abate and we are hoping to see an improvement in our individual giving programme. In 2025, we will focus on five slr8te%ic priorities: Rescue animals in urgenl need and deliver positive impacts for wildlife. habitats, people and the environment. Strengihen our digithl fundraising to grow individual giving and reduce cost per acquisition. Deliver major conservalion wins. including government implementation of key policy changes. Finalise and open the new bear sanctuary in Arnienia. Build community-led, long-temi solutions that reduce animal suffering and biodiversity loss at the root. Armenia- Svrian Brown Bears Finalise Construction of ihe new rescue centre. increasing capacity to house bears in dire need. Rescue more bears from suffering - where possible. rehabililate and release back into the wild; othenvise, provide expert Care for unreleasable lifelong residents. Conlinue to push for stronger animal welfare laws and enforcement with the Arnienian government. Costa Rica- Howler Monkeys & Wildlife Intensify campaign pressure on th¢ government to implement the regulations to prevent wildlife electroculions. Increase rescue capacity in response to rising electrocution cases. Expand our use of technology (app reporting and monitoring) to prevent further incidents. Indonesia - Orangutans, Slow Lorises & Macaques Rebuild supporter engagement following the positive political changes since the election. Expand support for holistic community led strategies that benefit wildlife, people, and the environment. Support long-terni peatland protection and reduce illegal activity. India- Sloth Beydfs Deliver cost-efficiency improvements to ensure long-term suslainability of care. Maintain high standards of veterinary and enrichment care for retired bears. Raise awareness of their past suffering and the need for continued lifelong support. Page: I I
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 6: Financial Oi'er%'iew INCOME TOTAL EXPENDffURE IrKlividual Donations 11 Regular Gifts from Individuals IIGrft aid 11 Trusts and fourKlations 111 Legacies 11 Fundraising events 11 Investment income • Other 11 Camwi9n and animal rescue projects 11 Fundraising 11 Governance, development and administration TOTAL: £3,772,721 TOTAL: £4,238,849 Income Summary Our supporters are the lifeblood of our Charity. We receive no government funding; as such, every gift is extremely important to us. The chart above illustrates this point, with 420/0 of our income from individual giving (including: individual donations, regular gifts and gift aid). Income from legacies is essential to underpin the work that we do, with 460/0 of our 2024 income from generous gifts that supporters had kindly left us in their wills. Cost Summary Responsible stewardship of our supporters, funds is paramount to everything we do. As such. we strive to spend as much of the funds raised as possible on charitable activities. Like any charity, fundraising and administrative costs are integral to our operations. however we keep these costs under continuous review to ensure the highest efficiency. 2024 highlights this, with 860/0 of our expenditure going towards charitable activities, significantly above the average for the sector. Page: 12
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 7: 2024 Finan¢iil Review & Risks Financial Perforniance Income in 20?4 of £3.77m was approximately £630k higher than in the previous year. The main reason for this uplift was an exceptionally generous £500k grant from the Michael Uren Foundation, restricted for our orangutan reintroduction programme in Borneo We saw a strong year for Legacies, which was sitnilar to 2023. this included a significant interim legacy distribution received towards the end of the year. Following a renewed focus, we saw individual giving via our digital channels continue to grow. Charitable expenditure was higher in 2024 than the previous year at £3.64m. The pattern shifted slightly during the year. in 2023, significant funds were invested in the new wildlife rescue centre in Costa Rica, which opened at the end of that year. In 2024, our focus moved to the construction of the Margaretta Taylor Bear Rescue Centre in Armenia, leading to an increase in capital expenditure for this project. Fundraising costs were only slightly higher at £585k in 2024 (£569k in 2023). This reflects our strong control over costs, with increases largely offset by cost saving measures. The trustees agreed to allocate funds from IAR'S reserves towards the construction of the new bear sanctuary in Arnienta. As a result, the Charity experienced an operating deficit of £466k in 2024 (2023.. £878k). Overall, there was a £490k net deficit in the year (before non-cash affecting 'other recognised losses, which are linked to the Charity's exchange rate hedges). Investments The Charity's equity investments are managed by Rathbone Greenbank's ethical investment team according to the objectives of the Charity. The reserves policy of the Charity is to balance liquidity requirements with a diversified portfolio of socially responsible assets, including those focused on future revenue streams in sectors like renewable energy. The mandate of our portfolio is to protect our surplus funds while generating a return to ensure the long-term sustainability of the Charity. Whilst we trust our investment specialists, we keep a watchful eye on the perforn]ance of our investments. Our total portfolio value ended the year at a slightly lower level than the end of 2023 (•024.. £3.025m' 2023.. £3.109m). Overall, the portfolio experienced a net loss of 0.770/0 (3.4 % gain in 2023). resulting from an unrealised loss of £43k (2023: £59k gain) and a realised gain of £19k. Despite our portfolio perforniing positively in the first three quarters, in the final quarter there were losses following the UK budget and rising bond yields, alongside uncertainty immediately after the US election. Ongoing geo-politlcal tensions continue to present a risk Page: 13
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Reserves Over the last few years. the global economic landscape has been extremely volatile, from a global pandemic to geo-political instability arising from the ongoing conflicts in Ukraine and Ga2a. All of this has led to a detrimental effect on our ethical investments and made fundraising more difficult, as well as making our existing project work more expensive. Considering the heightened financial risks. the Trustees feel that coniinuing to hold higher free reserves is both essential and prudent. Alongside the factors discussed above, the Charity continues to hold ring-fenced reserves for essential future spending on large projects that cannot be met from future income alone. At present, these are the expansion of the bear rescue and rehabilitalion facility in Arnienia and a reserve fund for the management (one year) the c.95k acre landscape to protect threatened orangutan habilat. Taking the above into consideration, the Trustees have agreed an appropriate reserves range for IAR as £3,5m to £4m, which is broken down as follows: Reserves Range Financial impact of risk £0.5m Working capital £1.5m Ring-Fenced Reserves £1.5m Minimum Level £3.Sm Range £0.5m Maximum Level £4m Our free reserves of £3.6m (2023.. £4m) fall within this range. The Trustees are comfortable this will ensure the long-terni sustainability of ihe Charity. Page: 14
INTEILYATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 8: Public Benefit In consideration of The Charities Act 201 I definition of charitable purpose; the Trustees of International Animal Rescue consider that the objectives and activities of the Charity are for rhe public benefit b), supporting the advancement of animal welfare. In setting the programme each year ihe Trustees have regard to both the Charity Commission's general guidance on public benefit and the advancement of animal welfare for the public benefit. The Trusiees always ensure that the programmes undertaken are in line with the charilable objectives and aims. The activities, which are described in more detail in a separate section below, cover the following charitable purposes for public benefit; promoting kindness and to prevent or suppress cruelty to animals. building and funding animal sanctuaries in the UK and overseas; provision of veterinary care and treatment to animals, care and re-homing of animals that are abandoned. mistreated or lost. conservation of endangered wildlife, mitigation stralegies of the illegal wildlife trade. rescue, rehabilitation and release of wild animals. and conserving habitats and protecting the natural environment. Page: 15
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 9: Statement nf Triiqtee8' Re$pongibilpties and Corpnrgte CJovernAnce The members of the Board of Trustees. as Trustees and Directors. are responsible for preparing the Report of the Trustees and the financial statements. The Trustees have chosen to prepare financial stalements for the company in accordance with United Kingdom Generallj Accepied Accounting Practice (UK GAAP). Company law requires ihe Trusiees to prepare such financial Statements for each financial year which give a true and fair view of ihe state of affairs of the Companj and of the surplus or deficii for that period and comply with UK GAAP and the Companies Act 2006. In preparing the financial statements, the Trustees are required to'.- select suitable accounting policies and then apply ihem consistently. make judgements and eslimates ihal are reasonable and prudent; state w'hether applicable accounting standards have been follow'ed. subject to any material departures disclosed and explained in the financial statements. and prepare the financial siatements on th¢ going concern basis unless it is inappropriate to presume that ihe Charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy ai any time the financial position of the charity and which enable them to ensure that the rinancial statements comply with the Companies Act 2006. They are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial infonnation included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislaiion in other jurisdictions. Statement as to Disclosure of Information to Auditors So far as ihe Trustees are ath'are. there is no releN'ant audit inforniation (as defined by Section 418 of the Companies Act ?006) of which the company's auditors are unaware. and each Trustee has laken the steps thai he ought to have taken as a Trustee in order lo make himself aware of any relevant infomiation and to establish that the company's auditors are aware of that inforniation, Regislered Office: On behalf of the Board Lime House Regency Close Uckfield East Sussex TN22 1 DS A Bruce- Trustee Date: Page.. 16
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) Opinion We have audited the financial statements of International Animal Rescue (the 'company') for the year ended 31 st December 2024 which comprise the Statemeni of Financial Activities. the Income Statement. Balance Sheei, Cash Flow Statement and Notes to the Financial Statemenis. 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.. give a true and fair view of the state of the company's affairs as at 31 st December 2024 and of its income for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audil in accordance with International Staiidards on Auditing (UK) (ISAS (UK)} and applicable law. Our responsibil ities under those standards are funher described in the Auditors, responsibilities for ihe audit of ihe financial slatemenls section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit ot" the financial statements iii the U K, 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 stalemenls, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the N'ork we have perfomied, we have not identified any material uncertainties rLlating to events or conditions that, individual ly or collectively. may cast significant doubt on the company'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. Our responsibilities and the responsibilities of the directors with respect to going concern are described in ihe relevant sections of this report. Other information The Trustees are responsible for the other inforn]ation. The other information comprises the infomiation in the Report of the Trustees but does not include the financial statements and our Report of the Auditors thereon. Our opinion on the financial statements does not cover the other inforniation and we do not express any forni of assurance conclusion thereon. Page: 17
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) In connection with our audit of the financial statements, our responsibility is to read the other inforniation and, in doing so, consider whether the other infonnation is materially incon%istent 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 detemiine whether there is a material misstaiement in the financial statements or a material misstatemenl of the other infom]ation. If, based on the work we have perforni¢d, we conclude that there is a material misstatement of this other infomlation, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed bv the Companies Act 2006 In our opinion, based on the work undertaken in the course of ihe audil: the information given in the Report of ihe Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matler5 on Ivhich we are required to report by exception In ihe light of the knowledge and understanding of the company and its environmenl obtained in the course of the audit, we have not idenlified material misstatements in the Report of the Trustees. We have nothing to report in respecl of the following matters where the Companies Act ?006 requires us to report to you if. in our opinion.. adequate accounling) records have not been kept, or returns 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, reinuneration specified by law are not made. or we have not received all the informalion and explanations we require for our audit: or the trustees were not entiiled to prepare the financial statements in accordance with the small companies regime aiid take advantage of the small companies, exempiion from the requirement lo prepare a Strategic Report or in preparing ihe Report of the Trustees, Responsibilities of trustees As explained more fully in ihe Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial slatements and for being satisfied ihat ihey give a true and fair view. and for such inlernal control as the trustees determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Irustees are responsible for assessing the 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 io liquidate ihe company or to cease operations, or have no realistic alternative but to do so. Auditors, responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether ihe financial statements as a whole are free from material misstatement, whether due to fraud or error, and io issue a Report of the Auditors 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 aggregale, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Page: 18
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARTEE) 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 Iegular1tjes, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial ststements from our general commercial and sector experience and through discussions with the trustees (as required by auditing standards) and discussed with the trustees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indicalions of non-compliance throughout the audil. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and deterniined ihat the principal risks were management bias of accounting eslimates particularly in relation to the timing of legacies. Audit procedures perfornied by the engagement team included: discussions with managements including consideration of known or suspected instances of non-compliance with laws and regulations and fraud. challenging estimates and judgements made by management in their significant accounting esiimates that involved making assumptions and considering future events that are inherently uncertain. The potential effect of these laws and regulations on the financial ststements varies considerably. Firstly, the company is subject to laws and regulations that directly affecl the financial statements including financial reporting legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement ilems. Secondly, the company is subject to many other laws and regulations where the consequences of non- compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified overseas laws and regulations relating to the support of projects where the laws may be considerably different to the UK along with Health and Safety regulations in the UK and overseas as the areas most likely to have sucli an effect, recognising the nature of the company's activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other managemenl and inspection of regulatory and legal COespondenCe, if any. Through these procedures, we became aware of no actual or suspected non- compliance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and perfornied our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in ihe financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-delection of irregularities. as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannoi be expected to detect non- compliance with all laws and regulations. Page.. 19
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) A further description of our responsibilities for the audit of the financial statemenls is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description fomis part of our Report of the Auditors. Use of our report This report is made solely to the 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 company's members those matters we are required to state lo them in a Report of the Auditors and for no other purpose. To the fullest extent pem]itled b>, law. we do not accept or assume responsibility to anj'one other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have fornied. Victoria Anderson BA{Hons) FCA DChA (Senior Ststutory Auditor) for and on behalf of Sumer Audit Chartered Accountants and Statutory Auditors 2 St Andrews Place Lewes East Sussex BN7 1 UP Date.. Page: 20
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANI TEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Unrestricted Funds 2024 Reslricted Funds 2024 Total 2024 Notes 2023 INCOME Donations and legacies Donations and grants Legacies Investments Interest Cash deposits UK Fixed Interest Securities Overseas Fixed Interest Securities Dividends UK equities Overseas equilies Other trading activilies I J38,505 1,471,655 850,525 2,189,030 1,471.655 1,583,846 1,459,31? 19,006 4,527 19,006 4,527 19,830 2,124 34,925 10,814 34.925 10,814 48,979 14.360 Total income 2 922 196 850 525 3 772 721 3 142609 EXPENDITURE Charitable aclivities Raising funds Fundraising Costs Investment managers fees 2,766,188 873,579 3,639,767 3,436,833 584,916 584,916 568,594 Total expenditure 873 579 4 238 849 40?0616 (443.074) (23,054) (466,128) (878,007) (Losses)/gains on investment assets 101 192 Net (expenditure) (467,085) {23,054) (490,139) (776,815) Other recognised gains/(losses) ProfiLI( loss) on toreigyn exchange Gains on forward exchange contracts 1,269 1269 (1.265) Net movement in funds (427,551) (23,054) (450,605) (758,452) Reconciliation of funds Fund balances at I st January 2024 4 267 799 5 026251 Fund balances at 31st December 2024 The detailed 2023 comparative ststement of financial activities is reported in note 2. The notes form part of these financial slatements Page: 21
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) INCOME ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2024 Notes 2024 2023 TURNOVER 3,692,911 3,049,095 Campaign costs, fundraising, administration and general expenses 4 238 849 4020616 OPERATING (DEFICIT) (545,938) (971,521) Gains on sale of investments 18,776 42,486 Gains/(losses) on foreign exchange 1,269 (1,265) Interest receivable and income from investments (DEFICIT) FOR THE FINANCIAL YEAR All amounts relate to continuing activities, STATEMENT OF COMPREHENSIVE INCOME 2024 ?023 (Deficit) for the year (446,083) (836,786) Unrealised (losses)Igains on revaluation of investments {42,787) 58.706 Gains on fonvard exchange contracts Total recognised (losses) for the year The notes fom part of these financial statements Page: 22
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31ST DECEMBER 2024 COMPANY NUMBER: 06035040 Notes 2024 2023 FIXED ASSETS IntaiigFible assets Tangible assets Investments 131.988 3 025 710 141.877 3 109067 3,212,045 3,316,161 CURRENT ASSETS Stock Debiors Cash at bank and in hand 11,745 298J76 389 949 12,582 591.857 496016 10 700,070 1,100,455 CURRENT LIABILITIES Creditors: Amounts falling due within one year 148 817 NET CURRENT ASSETS 605 149 951638 TOTAL ASSETS LESS CURRF.NT LIABILITIES THE FUNDS OF THE CHARITY Restricted funds 15 165 Unrestricted funds Revaluation reserve 3,632,289 184 740 4,037,018 207 562 Total unrestricted funds 16 3 817 029 4 244 580 TOTAL CHARITY FUNDS Approved by the trustees on OCI and signed on their behalf by: A Bruce - Trustee The notes fomi part of these financial statements Page: 23
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2024 Note 2024 2023 Net cash from operating activities 20 (241.118) (1,316,257) Cash flow from investing activities Purchase of intangible assets Purchase of tangible assets Purchase of fixed assel investments Proceeds from disposal of fixed asset investments Interest received and income from investments (16,500) (? 866) (101,679) (5,373) (424J24) 483,669 ,160,794 Net eash gained in investing activities 133 782 1133263 Net (decrease) in cash and cash equivalents (107J36) (18?,994) Cash and cash equivalents al the beginning of year 496,016 680,275 Exchange gains Cash and cash equivalents at end of year Cash and cash equiTr'alents consists of: Cash at bank and in hand Cash held by stockbrokers 131,990 257 959 297,874 198 142 The notes fom] part of these financial statements Page: 24
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 ACCOUNTING POLICIES a) Basis of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102, etyective l January 2019), hereafter referred io as the Charities SORP (FRS 102). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I O?) and the Companies Act 2006. International Animal Rescue meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the relevant accounting policy note. In the application of the charity's accounting policies, the Trustees are required io make judgements, estimates and assumptions about ihe carrying amounl of assels and liabililies thal are not readily apparent from other sources. The estimates and associaied assumptions are basld 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 lo accounting esiimaies are recognised in the period in which the estimate is revised. if the revision affects only thal period, or in ihe period of the revision and future periods if ihe revision affects both current and future periods. However, there are no judgements or assumpiions that have a significant risk of causing material adjustment. b) Income (i) Donations and Gift Aid Donations are recognised when they are received and recorded in the Charity's accounting records. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation. (li) Legacies Legacy income is recognised in the SOFA when the charity has entitlement to the income, the receipi is considered probable and amounts receivable can be measured with sufficient reliability. Income from pecuniary interests is recognised when probate h&$ been granted and we have been advised of the amount stipulated in the will. Income from residuary interests is recognised when probate has been granted and we have received the approved accounts of the estate or where notification of impending distribution has been received. The charity is the residuary beneficiary of some properties without current vacant possession and for these premises a sale value cannot be accurately dctemiined and as such these legacies are not recorded on the SOFA. (iii) Trading Activities Income from trading activities is included in the period in which the Charity is entitled to receipt. Page.. 25
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 (iv) Investment income Income from investments is recognised when receivable. c) Expenditure Expenditure is included in the Statement of Financial Activities on an accruals b&sis, inclusive of any VAT which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are allributable to more than one activity, are apportioned across cost categories on ihe basis of an estimate of the proportion of time spent by staff on those activities. A proportion of the costs of producing fundraising literature is considered to be educational and therefore included within charitable activities. The main categories of expenditure are:. Charitable activities are the costs of the campaigns and relaled support costs. b) Raising funds are fundraising costs and investment management fees. Fundraising costs relate to the external agencies and internal fundraising resource. Agency costs include the design, production and printing of promotional material. as well as the direct mailing costs. Twenty five per cent of the cost is allocated to education on ihe basis thal the literature produced increases publi¢ awareness of issues thal the Charity works with around the th'orld. Support costs are allocated over the above categories on the basis of staff time spent on each activity. d) Pension scheme arrangements The Charity makes contributions to a small self-administered pension scheme which operates on a defined contribution basis to provide employees retirement and death benefits. Regular contributions are recognised on an accruals basis and special contributions are recognised in the period in which they occur. e) Going concern The truslees have considered the financial position of the charity for twelve months from the dale that the balance sheet is signed and conclude that there are no material uncertainties concerning the charity's ability to continue as a going concern. In coming to this conclusion the trustees have considered the expected funding requirements to maintain the Charity's objectives for the period and the amount of free reserves and future expected incoming resources available to achieve this. They have also considered the global uncertainty around income pressures due to the cost of living rises and rising cost pressures in the developing world. Analysis of the free reserves are set out in the trustees report. Page: 26
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Fund accounting The charity maintains various funds in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities 2019,. These funds, which require separate disclosures. are as follows:_ Unrestricted Funds. These are general funds of the charity and are expendable at the discretion of the Trustees in the furtherance of the charitable objectives. The main sources of general funds are donations arising from appeals, grants from trusts and investment income. The main applications of general funds are campaign costs. fundraising costs and related overhead costs. Restricted Funds. These are funds which are subject to specific objects declared by the donor or which are raised by appeal for a specific purpose. These funds are expendable by the Trustees in furtherance of the specific object for which they were given unless the donor later agrees that they can be applied for a general purpose. Due to the nature of these funds they are accounted for separately from the general funds of the charity. g) Fixed assets Fixed assets are depreciated over their expected useful lives at the following annual rates., Freehold property Motor vehicles Plant and machinery Office equipment 2% Oncost 250/0 Reducing balance 20 % Reduciiig balance 200/0 Reducingy balance h) Stock Stock is included at the lower of cost and net realisable value. Cost is detemi ined on a first- in, first- out basis. Net realisable value is based on estimated selling price, less any further costs of realisation. i) Financial Instruments Financial assets and financial liabilities are recognised when the Charity becomes a party to the coniractual provisions of the instrument. (i) Financial assets and liabilities All financial assets and liabilities are initially measured at Iransaclion price (including transaclion costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is nonnally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when. and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Page.. 27
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 i) Financipdl instruments (continued) Financial assets are derecognised when and only when (a) the contractual rights io the cash flows from the financial assel expire or are settled, (b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or (c) Ihe Charity, despite having retained some. but not all, significant risks and reivards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. (li) Investments Investments are measured at fair value as at the balance sheet date using the quoted market price. The slatement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Unrealised gains and losses on revalualion are accounted for in the relei'ani fund. (iii) Cash and cash equivalents Cash and cash equivalents comprise cash ai bank and in hand. demand deposits with banks and other short term highly liquid investments with original maturities of three months or less. Page: 28
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 2. DETAILED COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Funds 2023 Restricted Funds 2023 Total 2023 Notes INCOME Donations and legacies Donations and grants Legacies Investments Interest Cash deposits UK Fixed Interest Securities Overseas Fixed I nterest Securities Dividends UK equities Overseas equities Other trading activities I JOO,770 1,459J12 283,076 1,583,846 1,459J12 8,221 19,830 2,124 8,221 19,830 2,124 48,979 14J60 48,979 14J60 Total income 2 859 533 283 076 3 142 609 EXPENDITURE Charitable activities Raising fund5 Fundraising) costs Investment managers fees 2,892,008 544,825 3,436,833 568,594 568,$94 Total expenditure 3 475 791 544 825 4 020 616 (616,258) (261,749) (878,007) Gains on investment assets 101192 101192 Net (expenditure) (516,066) (261,749) (776,815) Other recogni5ed gains (Losses) on foreign exchange Gains on forward exchange contracts (1,265) (1,265) Net movement in funds (496,703) (261,749) (758,452) Reconciliation of funds Fund balances at 1st January 2023 4 741283 284 968 S 026 251 Fund balances at 31st December 2023 Page., 29
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 3. EXPENDITURE Unrestricted Funds Restricted Funds Total 2024 2023 Charitable Activities Campaign costs Educational costs Travel and accommodation Support costs 2,245J55 187,135 4.151 329 547 873,579 3,118,934 187,135 4,151 329 547 2,933.125 182,338 19.466 301904 2 766 188 873 579 3 639 767 Raising funds Fundraising costs:_ Appeal and other costs Support costs 3 436 833 347,041 237 87S 347,041 237 875 354,037 214557 584 916 584 916 568 594 Investment managers fees Tolal ANALYSIS OF SUPPORT COSTS Charilable Activities Fundraising Costs Total 2024 2023 Staff costs Premises costs Office administration costs Insurance Datsbase, development and computer costs Motor expenses Depreciation Amortisation Loss on disposal of fixed assets Bank charges Audit and accountancy fees Sundry expenses 217,471 19,995 11,287 9,620 200,516 6,665 3,762 3,207 417,987 26,660 388,986 13,928 13,112 14,408 12,827 24,507 606 6,452 8,152 4,995 11,271 7,920 8,169 202 2,152 2,718 1,664 3,757 2,640 32,676 808 8,604 10,870 6,659 27,557 2,955 10,528 10,870 13,546 9,840 10,560 Page., 30
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 4. OPERATING (DEFICIT) The operating (deficit) is stated after charging.' 2024 2023 Administration expenses including: Depreciation and amortisation Loss on disposal of fixed assets Auditors remuneration audit fees for accountancy work 19,474 6,659 21,398 5,850 5,600 5. STAFF COSTS 2024 2023 Wages and salaries Social security costs Pension costs 635,663 60.210 732,565 69,040 The number of staff to whom retirement benefits are accruing under a defined contribulion pension scheme is eighteen (2023.. twenty). The average number of employees during the year was nineieen (2023.. twenty two), The number of employees receiving remuneration in excess of £60,000 p.a. is as follows:. 2024 2023 £70,001 £80.000 £90,001 £100,000 The key management personnel of the company comprise the trustees, the President and the Chief Executive. The total employee benefits of the key management personnel were £164,589 (2023: £?01,520). 6. TAXATION The charity is considered to pass the tests set out in Paragraph I Schedule 6 Finance Aci 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I Corporation Tax Act ?01 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page: 31
INTERNATiof4AL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 7. INTANGIBLE FIXED ASSETS CRM System Cost As at 1st January 2024 and 31st December 2024 Amortisation As at I st January 2024 Charge for the year 10,870 As at 31 st December 2024 Net book value As at 31 st December 2024 As at 31 D¢¢ember 2023 8. TANGIBLE FIXED ASSETS Freehold Plant & Property Machinery Motor Vehicles Tolal Cost At I st January 2024 Additions Disposals At 31 st December 2024 216,430 94,178 5J73 32,000 342,608 5J73 216 430 288 057 Depreciation At I st January 2024 Charge for the year On disposals At 31 st December 2024 99J62 4J29 73,551 3,839 27,818 436 200,731 8,604 103 691 52 156 069 Net Book Value At 3 1st December 2024 At 31 st December 2023 141 Page.. 32
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUAIL4NTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 9. INVESTMENTS 2024 2023 Market value at I st January 2024 Acquisitions Less.. Disposals 3,109,068 424,324 464 95 4,066,990 101,679 1 118308) 3,068,497 Nel unrealised (loss)/gain on revaluation 3,050,361 Market value of listed investments ai 3 1st December 2024 Historical cost at 3 1st December 2024 All investments are listed on a recognised stock exchange. An analysis of investments is as follows: 2024 Overseas Investments 2023 Overseas Investments UK Investments UK Total Investments Total Debt Instruments Equities 215,559 785 644 2 764,119 607,?60 1471570 305,616 91 ?,876 7246?1 2 196 191 475 947 10, DEBTORS 2024 2023 Oiher debtors Prepayments 212J62 254,466 337 391 11. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other taxes and social security costs Derivative liability Other creditors Accruals 17,105 21,933 6,993 23,189 33.329 20,467 45,258 19,548 14 Page: 33
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 12. INTERNATIONAL ANIMAL RESCUE TRADING LIMITED The Charity holds l OOO/o of the issued share capital of International Animal Rescue Trading Limited (? ordinary. £1 shares). The company was domlant throughout the year. 2024 2023 The assets and liabilities of the subsidiary were: Assels Liabilities 3,773 3,773 Aggregate share capital and reserves Consolidated financial stalemenls have not been prepared for the Group on the grounds that the subsidiary is not material and the costs of preparing Group financial statements outweigh the benefits arising from them. 13. SHARE CAPITAL The company is limited by guarantee having no share capital and members having a liability not exceeding £10 each, 14. FINANCIAL INSTRUMENTS 2024 2023 Financial assets measured at fair value through income account 15. RESTRICTED FUNDS Al 1st January 2024 At31st December 2024 Income Expenditure Orangutan Conservation Armenia Bears Lisa Milella Veterinary Dental Fund 15,889 704,192 145,753 580 (720,081) (145,753) 165 Page: 34
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 15. RESTRICTED FUNDS Prior Year Ai 1st January 2023 At31st December 20?3 Income Expenditure Orangutan Conservation Costa Rica Build Arnienia Bears Tree Planting in Indonesia Ukraine Animal Rescues Mangroves Indian Bears Lisa Milella Veterinary Dental Fund 15.889 260,444 168,506 2.498 84,000 11,877 525 I 1,000 3,000 670 (168,506) (26?.94? (84,000) (11,877) (5?5) (11,000) (3.000) 15,889 IAR received £704k of restricled funding during 2024 for Orangutan conservalion work in Indonesia. and £146k for the Armenia Greai Bcar Rescue projecl. Both these funds were fully utilised during the financial year. £8k of reslricied funding from ihe Lisa Milella Velerinary Dental Fund was spent on bear dental surgery in Armenia. 16. UNRESTRICTED FUNDS At 1st January 2024 Unrealised At 31st and realised December losses 2024 Income Expenditure General Fund Prior Year At 1st January 2023 Unrealised and realised gains At31st December ?023 Income Expenditure General Fund Page: 35
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Total Intangible fixed assets Tangible fixed assets Investmenis Stock Debtors Cash at bank Other net current liabilities 54,347 131,988 3,025,710 11,745 298J76 389,949 131,988 3,025,710 11,745 298J76 389,784 165 Prior Year Unrestricted Restricted Total Intangible fixed assets Tangible fixed assets Investments Stock Debtors Cash ai bank Other net current liabilities 65,217 141,877 3,109,067 12,582 591.857 471 797 148817) 65,217 141,877 3,109.067 12,58? 591,857 496.016 148817) 23,219 18. RELATED PARTY TRANSACTIONS Grants and expenses totalling £Nil (2023: £234,922) were paid to Catastrophes Cat Rescue. An interest free loan of £50.000 was provided to Catastrophes Cat Rescue during the year, of which £35,000 was outstanding at the year end, and has been fully repaid in 2025. Accounting services are provided free of charge to Calastrophes Cat Rescue. The partner of Alan Knight, President of IAR, is the founder and trustee of Catastrophes Cat Rescue. Accounting services fees of £8.050 (2023: £4,600) were charged to British Divers Marine Life Rescue, and office space is provided free of charge. Alan Knight, President of IAR, is a trustee of British Divers Marine Life Rescue. During the year. the trustees undertook a review of the costs associated with a vehicle provided by IAR for the use of Alan Knight (President). The analysis concluded that, due to the age and associated running costs of the vehicle, the arrangement was no longer cost-effective for either the Charity or Mr Knight. As a result, the trustees approved the transfer of ownership of the vehicle lo Mr Knight. The vehicle was transferred at its fair market value as at the date of transfer. The transaction was treated as a one- off benefit in kind, and all relevant taxes were accounted for and paid in the applicable tax year. Page: 36
INTERNATIONAL ANIMAL RESCUE (LIMITED BY GUARAIYTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 The transfer was carried out in accordance with the Charity's conflict of interest policy. and the transaction was approved by the trustees, who considered it to be in the best interests of the Charity due to the significant ongoing cost savings. The fair market value of the vehicle at the time of transfer was £6,500 and this amount has been disclosed as a related party transaclion in accordance with the Charities SORP (FRS 102) requirements. All related party transactions were approved by the Board of Trustees. 19. TRUSTEES REMUNERATION AND EXPENSES No remuneration or expenses were paid by the charity to any Trustee during this year or the previous year. 20. NOTES TO THE CASH FLOW STATEMENT RECONCILIATION OF NET {DEFICIT) TO NET CASH (OUTFLOW) FROM OPERATING ACTIVITIES 2024 2023 Operating (deficit) {545,938) (971.521) Depreciation Amortisation Loss on disposal of fixed assets Decrease in stocks Movement on derivative asset Decrease1( increase) in debtors (Decrease) in creditors 8,604 10,870 6,659 837 38.265 293,481 10,5?8 10,870 1,578 19,628 (367,566) Net (outflow) from operating activities 21. ANALYSIS OF CHANGES IN NET DEBT At 1st January 2024 Cash flow At31st December 2024 Net Cash Cash at bank and in hand 22. CONTINGENT ASSETS In addition to legacy income recognised in the SOFA, at the time of preparation of these accounts, the charity had been notified of 39 legacies with a total estimated value of £ l. I m which do not satisfy the criteria required by our accounting policy to recognise the income during the year {?0?3: 54 legacies with a total estimated value of £1.2m). They are therefore disclosed here as a contingent asset. The total amount ts subject to significant uncertainty, as such it should not be taken as a prediction of our future legacy income. Page: 37