ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025
DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
CHARITY REGISTRATION No: 1141880
Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
CONTENTS
Page 3 Legal & Administrative Information Pages 4 to 6 Trustees' Annual Report Page 7 Statement of Financial Activities Page 8 Balance Sheet Pages 9 to 14 Notes to the Financial Statements
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 1141880 START OF FINANCIAL YEAR 1st January 2025 END OF FINANCIAL YEAR 31st December 2025 TRUSTEES AT 31ST DECEMBER 2025 P Bonadie R Maloney A Wright GOVERNING DOCUMENT CIO - FOUNDATION CONVERSION DATED 19 JAN 2026 OBJECTS (A) TO PROMOTE THE PROTECTION OF ANIMALS AND BIRDS IN PORTUGAL AND THE PREVENTION OF CRUELTY TO AND THE RELIEF OF SUFFERING OF SUCH ANIMALS AND BIRDS IN NEED OF CARE AND PROTECTION. (B) TO PROMOTE THE EDUCATION OF THE PUBLIC IN THE HUMANE TREATMENT OF THE SAID ANIMALS AND BIRDS. REGISTERED ADDRESS 5 Hill House Gardens Stanwick Wellingborough NN9 6QH BANKERS NatWest Bank Plc 41 The Drapery Northampton Northamptonshire, UK NN1 2EY ACCOUNTANT Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2025
CHAIRMAN’S STATEMENT
2025 concluding inflow of considerable legacy donations, plus concluding conversion from a Charitable Company into a Charitable Incorporated Organisation to facilitate stream-lining of administrative costs and overhead.
During 2025 we continued pro-active relationships with several of our strategic welfare Associations, plus maintaining funding arrangements (via Memorandum of Understanding) with several regional welfare partners ARA(Loule), SOSAA(Central Algarve), StreetLife(Eastern Algarve), plus numerous more locally based/focussed Associations.
We progressed and concluded discussions with several additional Algarve based VFM (Value for Money) welfare partners and Vets to assist TNR and welfare activities within Western, Central and Eastern Algarve, resulting in establishment of a 2026 PanAlgarve Sterilisation/TNR programme, with an ambitious costed 2026 sterilisation target of >5,000 animals.
Structure
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The CIO is managed by above board of Trustee’s who review the activities and performance of the body corporate, together with any professional advisors, as necessary.
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Appointment of Trustee’s is governed by the CIO Constitution.
Governance (Objectives and activities)
The CIO’s objects are:
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Rescue, medical treatment, rehabilitation and, wherever possible, the release of sick and injured dogs, cats, wild birds and all other animals in need of care and attention
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Education of the public in methods of treatment, nursing and conservation.
Our policies adopted in furtherance of these objects remain in compliance with the Constitution.
We seek to apply streamlined Admin policies to minimise cost and maximise our potential to swiftly act in the capacity of a centralised fund-raising and grant-making facility to the many groups, organisations and registered Associations within Portugal that continue to undertake such necessary and important work.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the CIO’s aims and objectives and in planning future activities.
Current Focus, Objectives and Activities
The CIO's work is applied within the remit of its Constitution.
Income & Expenditure:
Total Income amounted to £23,056 Total outgoings amounted to £201,536
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
2025 Year-End Balance:
Total ‘cash-in-hand’ and Reserves amounted to £754,962.
Risk management
The Trustee’s have assessed major risks to which the CIO is exposed, in particular those related to the operations and finances of the CIO and are satisfied that controls are in place to mitigate their exposure to major risks.
Investment policy and performance
The DPDSAA Constitution authorises Trustee’s to make and hold investments using funds of the charity. There are no restrictions on the Trustee’s power to invest.
During 2025, our investments via Charles Stanley (Investment Managers) continued to provide capital growth and reasonable Dividend Income revenue stream, supplemented with (monthly) bank deposit account Interest returns.
This was undertaken via a conservative risk policy designed to aid growth of existing capital whilst providing flexibility of capital draw-down to support interim charitable objectives.
The Trustee’s continue to seek long-term growth from any capital un-committed for future projects, whilst acting prudently and after taking professional advice to achieve maximum income on cash funds.
The Trustee’s have power to hold funds on deposit as necessary, thus as at 31st December 2025 all other unspent funds being retained within NatWest bank accounts (Current, Business Reserve & 35-Day Notice accounts).
Reserves policy
Unrestricted funds currently available are sufficient to permit the CIO to continue in operation for the foreseeable future. All unrestricted funds of the CIO are held for its general purposes.
The Trustee’s are currently reviewing our longer-term policy for Reserves, taking into account a sensible balance between initial and ongoing support commitments, plus medium term objectives for capital commitments to encourage development of an animal welfare National Education Programme (NEP).
Maintaining a high level of unrestricted DPDSAA funds has meant that we are uniquely placed to consider funding of a NEP to support mindset change within the younger Portuguese school generation, to initiate a long-term and strongly needed animal welfare education change able to “locally influence” better stewardship of animal welfare.
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
Statement of Trustees' Responsibilities:
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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• observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Patrick Bonadie Trustee
Ralph Maloney Tony Wright Trustee Trustee
ON BEHALF OF DPDSAA
Signed on their behalf by Tony Wright
Signature: Tony Wright (Aug 12, 2026 21:45:06 GMT+1)
Date: 12/08/2026
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2025
| Notes INCOMING RESOURCES Donations & Legacies 3a Investment Income 3b TOTAL INCOME OUTGOING RESOURCES Charitable Activities 4a Raising Funds 4b TOTAL EXPENDITURE NET INCOMING/(OUTGOING) RESOURCES BEFORE INVESTMENT GAINS/(LOSSES) Unrealised gains/losses 6 NET INCOME/(EXPENDITURE) Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2025 2024 £ £ £ £ - - - 566,487 23,056 - 23,056 16,221 |
|---|---|
| 23,056 - 23,056 582,708 |
|
| 195,563 - 195,563 60,900 5,973 - 5,973 3,985 |
|
| 201,536 - 201,536 64,885 |
|
| (178,480) - (178,480) 517,822 58,261 - 58,261 (9,593) |
|
| (120,219) - (120,219) 508,229 875,182 - 875,182 366,953 |
|
| 754,962 - 754,962 875,182 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 14 form part of these financial statements.
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
BALANCE SHEET AS AT 31ST DECEMBER 2025
| Note Fixed Assets Tangible Assets 2 Investment Assets 6 Current Assets Cash at Bank & in Hand 7 Debtors & Prepayments 8 Total Current Assets Creditors:amounts due within one year 9 NET CURRENT ASSETS TOTAL ASSETSless current liabilities Creditors falling due more than one year 10 NET ASSETS Funds of the Charity General Funds Restricted Funds 5 Total Funds |
Unrestricted Restricted Total Total Funds Funds 31-Dec-25 31-Dec-24 £ £ £ £ 335 - 335 447 647,339 - 647,339 708,296 |
|---|---|
| 647,674 - 647,674 708,743 |
|
| 107,948 - 107,948 167,338 - - - - |
|
| 107,948 - 107,948 167,338 |
|
| 660 - 660 900 107,288 - 107,288 166,438 754,962 - 754,962 875,182 - - - - |
|
| 754,962 - 754,962 875,182 |
|
| 754,962 - 754,962 875,182 - - - - |
|
| 754,962 - 754,962 875,182 |
12/08/2026
Approved by the Trustees on the ……………………………………………………………………………….…………………….………………
Signed on their behalf by Tony Wright
Signature:
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Tony Wright (Aug 12, 2026 21:45:06 GMT+1)
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) — (Charities SORP – FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
The Trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on assets of the CIO.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Cash Flow Statement
The charity has taken advantage of the exemption available to small entities under Section 1A of FRS 102 from the requirement to prepare a statement of cash flows.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
1. ACCOUNTING POLICIES (Continued)
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
Investment Income
This is included in the accounts when receivable.
Investments
Investments quoted on a recognised stock exchange are measured at fair value at the balance sheet date, using the bid price. Other investment assets are included at the trustees' best estimate of market value. Gains and losses on revaluation and disposal are recognised in the Statement of Financial Activities.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Taxation
The charity is exempt from tax on its charitable activities.
Foreign currency
Transactions denominated in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the balance sheet date. Exchange differences are recognised in the Statement of Financial Activities in the period in which they arise.
Legal Status of the Charity
The charity was a company limited by guarantee (company number 06088815) throughout the reporting period. Details of its conversion to a Charitable Incorporated Organisation after the year end are given in note 12.
In the event of the CIO being wound up, each member is liable to contribute to its assets such amount as may be required, not exceeding £1.
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
1. ACCOUNTING POLICIES (Continued)
Fixed Assets
Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is provided to write off the cost of tangible fixed assets, less estimated residual value, over their expected useful lives, and is charged to the Statement of Financial Activities at the following annual rate:
Equipment 25%
Financial instruments
The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of investments, which are measured at fair value as set out above. Cash and cash equivalents comprise cash at bank and in hand and deposits held at call with banks.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subject to specific conditions imposed by the donor or by the terms of an appeal. The charity held no restricted funds in this or the previous year.
There has been no change to the accounting policies (Valuation rules and methods of accounting) since last year.
2. TANGIBLE FIXED ASSETS
| Notes Cost 01-Jan-25 Additions Cost at 31-Dec-25 Depreciation 01-Jan-25 Charge Depreciation at 31-Dec-25 Net Book Value 31-Dec-25 Net Book Value 31-Dec-24 |
Equipment Fictures and Total Fittings 2025 £ £ £ 6,433 - 6,433 - - - |
|---|---|
| 6,433 - 6,433 |
|
| 5,986 - 5,986 112 - 112 |
|
| 6,098 - 6,098 |
|
| 335 - 335 |
|
| 447 - 447 |
The annual commitments under non-cancellable operating leases and capital commitments are as follows:
31st December 2025: None 31st December 2024: None
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
3.INCOMING RESOURCES
| a) Donations & Legacies Gifts & Donations Income - Reserves Bequest a) Investment Income Dividends Bank Interest Realised gain on Foreign Exchange |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2025 2024 £ £ £ £ - - - 5 - - - 1,203 - - - 565,279 |
|---|---|
| - - - 566,487 |
|
| Unrestricted Restricted TOTAL TOTAL Funds Funds 2025 2024 £ £ £ £ 21,755 - 21,755 16,221 1,235 - 1,235 - 66 - 66 - |
|
| 23,056 - 23,056 16,221 |
4. OUTGOING RESOURCES
| a) Charitable Activities IT Costs Insurance & Maintenance Depreciation Grants TNR Equipment Bank Charges Sundry expenses Legal Costs Travel Independent Examiner Fee b) Raising Funds Investment Management Costs Realised loss on Foreign Exchange Currency |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2025 2024 £ £ £ £ 1,234 - 1,234 1,400 - - - - 112 - 112 149 188,691 - 188,691 53,963 486 - 486 - 77 - 77 93 765 - 765 1,663 161 - 161 - 3,377 - 3,377 2,792 660 - 660 840 |
|---|---|
| 195,563 - 195,563 60,900 |
|
| 5,973 - 5,973 3,848 - - - 137 |
|
| 5,973 - 5,973 3,985 |
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
5. RESTRICTED FUNDS
The charity held no restricted funds in this or the previous year.
6. INVESTMENTS
| 6. INVESTMENTS | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | 31-Dec-25 | 31-Dec-24 | |||
| £ | £ | £ | £ | |||
| Market value as at | 01-Jan-25 | 708,296 | - | 708,296 | 355,516 | |
| Additions | 21,755 | - | 21,755 | 366,221 | ||
| Withdrawals to bank account | (135,000) | - | (135,000) | - | ||
| Investment Management Charges | (5,973) | - | (5,973) | (3,848) | ||
| Unrealised investment gains/(losses) | 58,261 | - | 58,261 | (9,593) | ||
| Market value as at | 31-Dec-25 | 647,339 | - | 647,339 | 708,296 |
Additions comprise investment income of £21,755 arising within the portfolio and retained there (2024: £16,221 of retained income together with £350,000 transferred from the bank).
| Investments at fair value comprised: Cash and cash equivalents held within the portfolio Listed Investments |
Unrestricted Restricted Total Total Fund Funds 31-Dec-25 31-Dec-24 £ £ £ £ 626,494 - 626,494 650,394 20,845 - 20,845 57,902 |
|---|---|
| 647,339 - 647,339 708,296 |
The charity's investments are held in a single discretionary portfolio managed by Charles Stanley, a trading name of Raymond James Wealth Management Limited. The portfolio comprises UK Government gilts, directly held quoted equities, listed investment trusts and real estate investment trusts, exchange traded funds and open-ended funds, together with cash held pending investment. All holdings are quoted on a recognised stock exchange or are units in funds whose prices are published daily.
7. CASH AT BANK AND IN HAND
| 7. CASH AT BANK AND IN HAND | |
|---|---|
| Current Account NatWest Reserves NatWest 35-Day Millennium Bank (Portugal) |
Unrestricted Restricted Total Total Fund Fund 31-Dec-25 31-Dec-24 £ £ £ £ 96,510 - 96,510 10,387 919 - 919 154,203 10,519 - 10,519 - - - - 2,748 |
| 107,948 - 107,948 167,338 |
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DISPENSARIO PORTUGUES DE SAUDE A ANIMAIS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2025
8. DEBTORS AND PREPAYMENTS
The charity held no debtors or prepayments during this or the previous financial year.
9. CREDITORS FALLING DUE WITHIN ONE YEAR
| Legal Fees: Client Account Independent Examiner's Fee |
Unrestricted Restricted Total Total Fund Fund 31-Dec-25 31-Dec-24 £ £ £ £ - - - - 660 - 660 900 |
|---|---|
| 660 - 660 900 |
10. CREDITORS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial year.
11. TRUSTEE AND OTHER RELATED PARTY TRANSACTIONS
No other payments were made to the trustees or any persons connected with them during the financial year. No other material transaction took place between the charity and a trustee or any person connected with them.
12. EVENTS AFTER THE END OF THE REPORTING PERIOD
On 19 January 2026, after the end of the reporting period, the charity converted from a company limited by guarantee (company number 06088815) to a Charitable Incorporated Organisation under the provisions of the Charities Act 2011. The conversion did not create a new legal entity: the CIO is a continuation of the charitable company, retaining charity registration number 1141880, and all assets, liabilities and obligations transferred with it by operation of law. The conversion is a non-adjusting event after the end of the reporting period. It has had no effect on the amounts recognised in these financial statements, and the trustees do not consider that it affects the charity's ability to continue as a going concern.
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Unsigned Accounts 2025
Final Audit Report
2026-08-12
Created: 2026-08-12 By: Fi Ellis (fi@iel.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAlw2NN29vaf4m_uWh5leKJOz-rP1o4UQf
"Unsigned Accounts 2025" History
Document created by Fi Ellis (fi@iel.org.uk)
2026-08-12 - 1:31:30 PM GMT
Document emailed to Tony Wright (tony.wright@dpdsaa.org.uk) for signature
2026-08-12 - 1:31:35 PM GMT
Email viewed by Tony Wright (tony.wright@dpdsaa.org.uk)
2026-08-12 - 8:40:52 PM GMT
Document e-signed by Tony Wright (tony.wright@dpdsaa.org.uk)
Signature Date: 2026-08-12 - 8:45:06 PM GMT - Time Source: server - Signature Appearance Selected: DRAW
Agreement completed.
2026-08-12 - 8:45:06 PM GMT