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2025-12-31-accounts

GERMAN SHEPHERD RESCUE ELrrE LIMrrED (A C(X4lPANY UMtIEO BY GUAR￿E) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

GERMAN SHEPHERD RESCUE EUTE L1141TED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Ito14 st3tell￿ dTruee< ReSpo￿lts1￿1¢S 15 Eyamlrnrf5 Repyt 16 17 18 19 iaxes to tr SLaten￿￿5 20to25 Th• followlrnj page does na¢ form of th• K<ounts

• • Gemian • Shepherd Rescue Elite Annu I Perlod I" Janua 2025 to 31" December 2025 German Sh•pherd Emte Lid Aho knovm as: GSRe & GSR Ellte. eglstered Comparry Number 8289960 Enlland & Wale% R•8lsl•r•d Charlty Nurnb•r 1150928 Trustee%: Alllson U•ik• Dlre¢tor5: AINson UThda Mlmma Re8tsiered Office: Camelot Kenne15 LaU￿￿10n Ro•d Kelty 8fav Calllniton Cofnwall PL17 8PN Lluy Brown The trustee$4fid dliectcrts vtho served durlfii the (Inan¢l)I perlod. Pfesefii thelr annu•l report frjf the perlod InJanu•ry 2025 to 31Jt December 2015. Stru¢fvrn Govern•n¢e and Man German Shepherd Rescue Elite ￿"Mited w35 knrtyporated on 12th November 2012 as mp•ny Ilmrted by 8uar•niee. The ¢omp•ny charlt•ble status on 21 Febwary 2013. The constitution (urrentty adopted h cont•bned In Ihe Artkles of AsKKiallon of th¢ company as amended 14 February 2013. Tfusiees ire nominated by a current Irustee and If 4pprty4ed by the m•Jorlty, a¢ctptod Mto the Boaftl ofTrustees.

The charlty's objerts ate: for the beTheflt of the publlc to rel￿e the sufferin8 of dogs in need of care •nd attention. primarlly Gefman Shepherd do85 or cr055 ￿eedS and, in partlcular. to prowde and Mainta￿ rescue homes or other facdktbes for the ft¢epilon. are and tre•tmeni ol suth anlmals: •nd to educate the publ[¢ in matters pert•inin8 to animal welfare kn 8er•eral •nd the evention of cweliy •rbd sufferlns afhofii •nlm•ls. GSRE hawe wedoffllnantly tsken Into their eare German Shtphefd and German Shp￿rd cross dogs that have been identified as beini at risk of euthanasia in council pounds or ￿Ve been si8ned over io us by thelr owners who •re no Ion8e¢ Ible io ure for thelr dois for TAthatever reason. All dogs in our Cafe are given any medical treatment required whith h45 included some coslty cases. We endeavour to m6crochip. ¥a(dr￿te and neuter all dois whilst In our C•ft but if not possible. for example due to a bitch's season history, we have a slrict follow up wotedure lo ensui¢ neuterin8 15 completed by Ihe •doptei. The majorlty of do85 In (he cafe of GSRE •re erther kepl In approved foster home5 or commefcl•l kennels which h•ve been assessed and approved by a tfusiee, GSRE also now own their own lennels In Comwall which Is used predominantly for do85 who need ¢xpefieTrc¢d training lo help Ihem on thelf iourrthey 4nd •lso icis as • sandu•ry for ol the older. more difflcult do8$ that •re not sulted to Ilvlw in • home envlionmefti. The Charity ensures that all do85 are a55essed bel¢fe beiw $￿at•d in • home •bd •M homes are assessed for the suitsbilily to have ¢￿e of our dogs. GSRE gives Rescue 8ack Up lo all of our dc%5,' we 8lve continued backup. advice and support to people WI￿ have adopted one of ovr dogs and in a case where a new home h noi right for a do& we will atrways take ihai (log bKk into our care. GSRE also carrles our a folknw up visit Post adoption to ensure the dog Is Ilns Lft with thtlr new f•rn4v. GSRE also helps 6￿￿On Shephefd Malinois and Dutch Shephefds as thffe 15 an inflw ol these breeds comin8 in as strays_ Not being abte to ideniify any reputable charrties that helped these specific breeds. we feli that we were probabty In the besi posillon to ure fof them, beifti Worki￿ line do85 ofien used alon8s￿* the German Shepherd, Havin8 also bulh up a network of PolKe Forces and Pnsons in neeil ol WOTkiTha dogs. we have •150 eS￿rIShed suit•ble outleis for m•ny of them. GSRE tndeavour to edvcate the public on do8 weffafe and responsible (￿nershiP through Its webstte, 50tlal media group5 and when out at fundrais¢ng events. Thetharlty 15 415Q FWOaCt Ind supportNe of relev•ni animal welfare le81￿1110n ind carnpal￿s. The charity rel￿5 totally on donations, grants and fundraising incoffle and ha¥e numer(￿$ different events aimed 4t Increasi￿ income and piomotin8 the Charity. All of ihls Is •chlevtd ihrou¢h our In¢re•sln8 network ol •pPr￿ed Ind dedk•ted wlunieefs. all of whom are unpaid.

hl 2025 was • continuation of 2024 wFth too many doy stlll being dumped by a thro¥vaway $￿Iety, and stlll Tho upllft In 8eod homts look1￿ lo adopt. The c05t of has a lol to do wilh this situat•Dn and wilh the In¢re4se In costs •nd IrtSUf•llCe. the good hoffles •te sensibly considerlfi8 Ihebr bud8ets before tak1￿ on the commitment of adding to their farnilv. We ha¥e seen progr￿$ in Animal Welfare le8i51ation. policlng oi enforcement ￿th the current GovernrnenL and Mdly It seems way down on thelr list of prlofities. Two maiDr concerns afe mScrochipping ￿gUlatIonS and the I￿￿51￿6 of rescue. boih of whkh were beiftg looked at we-pandernlc, and iuess what, we are no further lorward! Below are extracls tn)m a repoft-Animal Str•ie8y- The Stray Do8Sy5tem" produced 2025 to eafty2026. emph•slsir the issues laced. "Hoving been In rescve for mony yeon tr￿W, we h47ve seen o dmstic chonqe in the wtrrtd ol rescue. Gone ore the days whern o rescue helped to rehome o doq lor someone who hod svlfvreda nwiorundgenume ¢hortge In clrtufftstoncts meothrto theytouldno lorweiqht thelr doq the Ilfr rhey deseThed. ané on odopter. who otso undastood thot some fescue dog5 moy cofftt with issue£ wouhl be matched a5 Suitoble. meon￿9 Ihe doq wos rehomedlrom one me to the next. This pfocem worted ond wos moée 0$ stress Jreelof the doqs os pow"ble. 11 wos otTrfy In extreme crrcumstonces where wefrh a d(w was in on un5Uitoble envrfr¢wpment or on emefqency situtrtron thut the doq would corne into the care of rhe rtscue. and u$4rfJlfy the doq would oo into fosrer core. tt wos very rore ihot tts o rese￿ It was necessory to use commerclal boarflng kennel We rFowll¥Y In o thrnwowoysorletyhowebw. ondwlth fl￿addedIrnPUrt of Covld 19. meoninq peOpIen￿hedQUt to buy a doq wlthout ony thovghtlorihefvture. noso¢rolisotwi or troinin9. rhe Immenje erowth of boe street breeders ond pupPyfvrn￿. ond the moss Importotion ol Jo(eiqn tlog4 the UK Is now 5aturoted wlth doqs. The￿ slmpty fflwe dogs In iths awntry thon hoffle5 th(pr wont them. 5odly, lile eveNhlng else, the ouihorifffes ollowed tho ¢0 hoppen wilh lo¢k of leqislatioo updote olcunent le9islotioi and more importontfy o lo( olpoliting anden/orring leg￿latIO With rhe odditlonolproblem of POP•UP'rescues. s(Kh os thehorftndous case in Essex in 2025. where multjpje dog5 54Jpposedty beinq caredJor by '50￿ A Pow., wve selied in stores ol neqlect or their Co￿$e$ recovefed. the 60￿mment still does nol see a necessity to updore q￿lI?110n lo prebtnr On￿rne beinq oHowedto ¢011 themselves o rtscue. Theybelieve the lows ploce olready cover t￿ problem. but they do not ensure enfvrcenrt¢. Thts Is left io locol outlrori￿s who do rtot ho¥ eno¢4ihlunds. so onlrnol wevofe slipj to the t￿￿0M ofprlwlties in mony coses. ond in fott sorne cvuKits do not even seem to an onimol wellore polKy oronybodY￿sP0n51ble￿f1l. Let s rememberthot ¢he RSPCA 15 ocfuolfyo churlty onddoes nol hove the legolpowers ol counci15 ond the polke. Jo should nor ond cannot be wonsiblefor all onimol weyore issues ondpr05ecution&

Counclts a￿ obliqed topmvide Dog Worden seThkes to the exfeni ihey ore responslblelor the colleaion ond intoke ol srroy dogs. It is o legol requlrement lor dog5 to h4Jve on idenfr.ty toq on thelr collor. n70ny don'¢ ond kyt hokr you heard ol oryone beinq finedJ¢v brnokhg ihls low? I￿9$ ore supposed to be mi¢rothipyd ond the detolts kept up to date. Some dogs ore still not micmchlpyd. some micrcchips missed. detoi15 ore rorely up to dote. onddo you Jee these people being regula￿ prosecuied orfined? In one ￿rtse If Is Qgarn ihefoilkng ol Government legislotion thot iht is on the new keepef OJO doq ro updote the mKrthp Informolion. Fitstfy. there rs theminefvldolo¥ef 20DSfRA oppro¥edmi¢fochip dato￿se$ to work thro(oh. ovoldofpce of the scom sites, and the costs invol¥td." secondly, it meart5 Ortuol owners wl moy well have dLrfnped thr dog ¢loim Ihey po55ed ihe dog on io o new owtTrer b¥r don'i hove their detoH5. If both portles were respongblefor the updote. like the log book ol o cor, qt leosi the 'oJrf¢wnermtsObefined Using microchlps ft) troce o dog con only wort l￿W￿l l it is rtgistered the moment tt ts Implonted. Aqolo thlj is left ro the person who fequested rhe Ifnplont $0 oJ(ourse the bock street breeden ondpuppylomis ofe not qoino to borlw. It should be leqolfy required thot the implonter must req15fer the mkrochlp to rhe person who requested the Implunt to stort the trollof occountoblity. Guess whoc imploniers are nrt even requlied to keep detoils o/wlFo they Implontedlor. ond those worfs come dtsettlyfrom Crolq Lee OJOEFRAI 8oc to rhe sfroy dogs,. Jo. counclts ore responNble but do ntrt hove tht fvnds or resourte5. htnce the stort of su&contnJrtinq theirltyGI duty to prmite cofftpanies. Now let's rnm¢nFber thfjt a privute compony is not qoiftg to be offering ihwr seThices out olo senie of duty.. thty tve in btsstness purely to moe moneyfor thtlr own benefit. So how thoroughly ore tlse su controilor5 vetted? Whot octuol checks ale mode by coundls and aft they monitofed throughout the contrort period? Well on looknno inro controcts oworded by councils in tsne cose there wos onfy l sub<¢nlrartor lender Icentrol 8ed/ordshlre Councilj so tleepchecks and ¥ettlnq ore very doubt/ul ond how fflony other contracts received one tenthP Thot In itserfts ajoftlrnq ol the counol towords ontmol we¥9￿ stondorfs, And iryifw tollnd SL)meont within rhe counol who Is respon￿ble fof onrmol weyore is lie trying to find o needlt in o hoysiack on ft￿nY octosion5. It oppear5 that onlmol we¥0￿ ond stiays Ofe oll sw¢pi up into the Environrnentaloepurtment. Plorsure osentlefttbelnffj becoffte dellAedGsiust being port ol the envlionment? lei s otso explcin how pounds. i.e. kennets that board 5troy dog5 on behay of the couKil or their sub-controcror wort. Yhese could be Coundl owned kennels eommercrol boording kennel& rescues kehnets or kennels owned by sub-controctorx The Dog Warden or Animul WonlencDllects the stroydogfrom o membef olthepublk WI￿ I￿510￿￿dI￿e doqormonooes to coptuff u siroy doq wnnlnq loose. Tht dog hos on Identlty tag I￿ry rore) ond/or Is sa)nnedfvr o mkrochlp ond if very I￿y. the keeper infvfmotion on the mlcrocthp 15 UP to dote. the owfter ￿ conrortedand thedo9rettsrnedhome, Unfvrtunotely. thts does not hopptfi ¥try often Qnyfflofe &lecouSe ft￿$( stioys holt not jwt escoped o gorden but hove bten

delrberorely dumped or obondLined. Why? 8e¢ouse of our throwowoy $￿Iety who has no Sense of reswis1￿.fyty0r1nte9rity. Theyoidered t1￿ dog onlinelrom apuppylomi. back street bfeedef of O+ryorher irfesponsible owner. four0 thry could not return Ir the next doy like thelr Amozon prOd￿t$. maybt tritd a rescut who is most likely Jull to copocity. or thty Couldn't qu*kly ff5ell online. The tnere fort dogs ¢on be 501d onllne ts something that needs wtOUS oddresslftg 0$ despite dogs being sentlent beings. lor the purposes ol le¢tsl¢tion ihey ore merefy ochottel. o piece of property. 77Jis hos been oddressed with working onirn015 50 Ihor if fvf exomple, a Woflinq dog ￿ injured In ihe Ilne of by o $uspert. thry Couldloce up to S

ors In Pre¥th￿lY there mry be o small chargefvrttiminal dony. . the Wofden now hoj o stray doq wirh no inloimotion ol wholl moy belotTrg to. so the doq ts tronsported to the pound.. You would hope rhot il o microchrp hod not beenfvundon the doq ot collectjon thot once ot the pound the dog would be fe5conned In c¢w It wos missed, hod migfoted, or the microC￿P reoder wos Joufty. Not Qlwa￿S the case os we shollsee loter. The doq should then be given o welimlnory heolth émd temperament ossessmenL Ilthe doq Is In a severe stote ol neqlffi or Inlurtd. the doq Is now In the care ol the co4u￿.1, be tt the councvl direclfy or theirsub<ontrortor. so they I￿e o duty olcofe to enswe the doq re<el¥es e55ory medkol treotment. In severe cases. ti moy well Ixv th¢7t the council hos to conslder Jusing ro retyrn o dog J/ the eeper does cotneforwordwlth woseCut￿n In mind. How often does thot happen beoring in mind the lock olfund5 ondlock of responsible petsonnel¢ovtrin (mmnol wellore withln a (ounorfP &¥ere th onorher maiorlssut. despite thefoci rhern ts o legolrtouiren)tntfvr5troy dogs to èe roqoed. meaning every council should ht7ve o record of the number ol siroys collected in ony glveft pertod, how mony were re¢urrtd/reclalmed. how mony were WeU0￿ c475e. how ff￿nY Iveft felinqwshed to fescue ond how mony were euthanlsed. there ore rti officlol KO¢is¢i heldby the Gokrrnment ond theyure¢ertoinlynotlreelyuvailoble ro rheptsblic. WhyPBecouse they know ihe struy dog $￿tern ond rescues ore ot the point of collowe ond rhen thry wjl htye to srep up ond toke some fesponsi&llty. In loct. 50rne councils do nol even borher to Ilote ofty infvmiotion or flou￿$ from ihew sub. controtton $0 could never reprf the

Charty wsirth Th) 115C828 Our Siray has now orrik•d ot ihe pound ondhod their heolth ond remperoment rest. Sodty. if u ore deernedortXL 8ully yourfvteis se¢pled there ond then. If you loo like YOU ho￿• It￿?- temi IFealrh rsstsyyourfote tsproboblysealedos nobodywonfs to rake responsibilttyforlthing o duty of core to spendmonryon tnedical treotrnen¢ be itfrom tr I￿'ndIn9 counctlbud9et or profvt if If ￿ o Su&￿ntrollO1. YoufvH temperoment test. despite beino Kuredst hoviftg been loced in o strofrge kennets wlth stronge people WI￿ solorhove just proddedand ked you. ond yourfvte is seoled. 11 fvtiu ItKty yovr owner monoges to locote y04J desplie h¢Mng forqottert to updoie the deroits on your mluochlp. ond you go home. IA ol course rhty con finonce the reletrse Jee. Othenvise. hove ro I￿pe thot one of rhe mony reput17￿e rescues hos o space to toke you In ond give the second chonce ot Ile you desefvt. Remember that the poundJ cre onfy oèNqed to keep o stnry dog fvr 7 do￿. iAo reKue ploce cannot be fouftd o perfectty heolthy orFd well-beho¥ed dog moy be euthontsed slmpfy to moke spoce ot the ennelsfv the next 5fray. Yes. this ￿ollY does hoppen io the UK ond tTroi enou¢h people real￿t thotfoci. So muchlor a notion oldoq loktr51 And1/￿￿ tlwght ihut ollol tjje wJwd5/oundrescue 5pacefv the stroy dogs with nowhere else to go, Qwin ￿ wotsld be very mAsioen. 11 smull ond ettsy ihe pound moy well hove on ormngement with a lorge choritysuch os rhe Dogs Trusr or 8olterseo. but onythirtg rhot is ng¢ seen 05 eosy to 'turnoverf will be left to pcwndpullers.. Whot is o poundpullerP Ltsutrlfy, thry ore o qroup ol people who Qfe PQMFonrft about onlmots ond therefvre oi¥e up their time tryirtg to savt stroy dogs ihot would othertvise be euthonised due to Icck of space,. thls grouo of lie-mtnded peopl¢. P￿sent on social ffled￿ such 05 Focebook ho%r estobh'shed o relofionshlp w+th portlculorkennets usedby coun¢ilsfor the stroys ondhove built up o nefwo ol tontE7ds with rescues. Mony pound pullers will olso orronqe rronsporr Ihrouqh onofher network ol volunteer5. from the council kennels to rescue, collectirpg dorpaiions rowofds covefffwfuel cosrk The q¢odpound ouNerJ wlll properfy ussess o fexue belo￿ sendinq doq5 ro them. but Ile onything. othets wlllust send to ony reseut that soys theyhovt o swe, ond thus s•tuotiQiJ5 con onse where dog5 end upin o worst srtimrtioft thon Ilthey hodinloct èeen euthftlstd, The stmy doq A-tuotion In the Unlted Kthqdorn Is unsustolnoble. oftd anlmol welfore Is not bein9 ¢orried out ￿sponSiblY by some outhon'ties. ond some not at OU. deswte their kqol obligalions. Wlthoui Governn￿nI intervention wilh uTrtO-doie regulaiion5 ond. n￿re Importontly eftfvrcement and occountability. we will soon betomt c notton ol wonderinq stroys 0$ We 4oed tQ See in Eufopeon ¢ountrie5 before Trop, Neuter ond Releose. progroms We￿ put into ploce. Whtlst lock olfvnthnq Is most definilefy on ￿￿e. Iheie 1% no excusefvr thesefoilinqs. l]Iow5 and regulutions were rnothfvd to work corrertly. such os mkrttchlpp4"n4 wlth pmper enforcement. needed lunth'ng ¢ovld hqbt been rolsed through fines and Accowitots"h"ty fftU5t be held over our outhoiities to eftsts￿ thty orn Cor￿'nI out fhelr kqal obltgutlons in terrn5 of onimol weljore qnd stn7y dog duties. Statistics are essentiol, ond yet Iheie ore councils out there WI￿ hove no ￿e9 mony stray doos hove been collerted in their oreo, how mony were micmchrpwd. how mL7ny mitro¢hips were up r? dote. mon¥ were rtunired wtth Owne￿ how mony We￿ cc5es o/neqlert xobuse, l￿W mony went

to wcue. ond how mony were euthontsed ond why. With the nurn￿r ol dogs in rhe UK it Is essent￿1 thot the trve scole of the problem con be ossessed so rhot Sultoble Gr￿ Wofkoble x)ltsilons (on befotsnd ond. demogrophic results OtTrolysed. Rernember It ts now believed thor mony ol those who begin with obusing an ontmol often onto domestlc violence ond worse. It is not just to pl￿e¢l ihe doos 01￿01her onemojs. but to pmtert the putrfic otlory. Dog5. like ollanima& ore senileni beings ondshouldnolowrbe clossedos 'chotrels', holdlng no more fftwtonce thon on inonimote objert such os o cor. They a￿ companions. fvmityond Jriends. The numemu5 ffjle5 they cony out okjngslde our polke, fflson offlcers and Orn￿d fvrces orv invuluoble. And let us notlorgtt the doqs with other impDrtont job5 955iSting the wlneroble os guide dogs or medicoldetection dogs fo nometrust ofew of mony Involuoble ro12S they ore copoble ol. They deserve so much fflo￿. A rnclossl1icot￿n c{￿ld be the pcth to berter iegvlotlons oqolnsl oTrllnt odverttsing which is the moin root ol the problem moking the p44r¢ha5e of a Sent￿nI èeinq as eosy as buy"ng on Itern from thozon. The only problem beinq thot the onimol retumpolicy Is not as eosy osAnTromn's wh•ch hos resultedin the mess we 0￿ In. The inten>et hos given bock street brnedefs Ortl puppylorms o wlndow to pmfir from with G lott71 lac ol regordlor w¢¥ory. o wlndowfvr deolen and peddlers to operate. (olllng them5elve5 rescues such os 'Sove A Pa￿. ond ihe obilityfvr so monyfveiqn dops to be imported inlo o country thut alreody ho5 ¢pn over 5¢7turoted dog POP￿0110￿. Those concerned with tsntmol weyore howe tofiqht o long ond tr'mely systeffl of posslnq lows through Parlicfflen¢ which they u54Jolly take Ipo notlc¢ olunless o petition mo*es it ne¢es$4ry to debote. DEFRA then consuts with the lor9er choflties s￿h rJ5 the RSPC4 Butterse4 Dogs Twst ond the Blue Cmss, ond rorefy in¥vlve orinclude clFon"tres such u5 ourselve5. We ore the resc￿$ on the real/ront line with the moJoAty olour ifpfoke now bernq stfoy doqs from locol Uthoriti￿ os illustroted below. 'GSRE - 00¢$ That con￿ Into Rescue.. The oroph cleofly Ilustrates the increose in our intake o/struy doq5PQSt Covid. GSRE - 008s Thal Came Into Rescue 140 ILLL li 2013 2014 2015 1016 IOIY 1011 201J 2020 2D21 2D2J 21

We a￿ the rescues who do nDr hove o hlohly puid teom of executlve5. and Infort mony ol us orecornpletely volunteerbosedbecouseolourp05sionfor thedogs. There must be recoqnitlon of th4foct ollowit79 in￿rnent Jroffl olllebls olre5cuesos thesepeopk are the realexpert5. By operoring on a smoller scale, li meuns rhof smoller rescues ore deollnq with every ofwle Invgl¥td In the reKye prnctss rother thon their role. witjjin o lorge orgonrsotlon, mony OJ whom seem to hovefvrgotren iheif core ¥vlues as to why ihey wefelounded os they become mor¢AKusedon runnlnq ihwf ch4rlfS 0$ o uslntts' ioiher rhon o rescue.. The onfy emerqen(y leqlslotlon bfo¢whf into effl￿1 In o mottef ol weeb with¢ur ony pfoper oMstsltoti¢%L wtrs rhe bon on Xl 8tyllies as they were odded fo the Dongerous Doqs Itst. As prtdlcted by those in rescues and choritie5 ocrnss lh¢ UK fiqure5 pro¥Y that it hos not decreased ilpe number of doq atiock5 becouse yet aqoln the wrong end ol Ihe leod wos Aetyseculed. Mowever. whot the bon drd pro¥ wtss thot emeryency leg￿lot•On con bt put thm4Jgh when trsituotion ￿ seen 05 an emenJen¢y. Thestroy dog slruarlon and onimol weyare Is T￿1 jusr on emergew onym¢re. It Is in a eritkol slole. Commerciol l(ennels ore dostn me4nfft¢ e¥eA the outhofvt￿s cre strugglrnq tofind kennelling Jof the stroys with n￿ftY do9S end up counties owoylrorn their bKouse there ore no Jo¢01 kennets ovolloble. Rexues ore ot copa(Ily wJlh wolirno I￿1$, liiefollymeafting they ore often In d position of ¢ondemnln o doq to detsth os thry know they connot int¢p*e in lime to 5Ujt council/kennel pOl￿e$. Remember the 5trqy5 qet 7 £loys to be reclolmed then leqalfy they con be e￿￿o￿lSed." We ensure anIM￿ welfarn Is ap&Yowlat¢ •nd wstskn•bl¢ whltst ensurl Kcountablllty ¥1 overy levol. from the bfe•def to the owner. to th• k•nn•l owners. Ms<u and auihodlles and. ultimately the Govefnment. After all. wé are supposed to k a nation ol dog and a￿rnal loveT5 50 nowls the tlme lor the GovernrTrenl 10 Step vp and prove ill ANIMAL WEiFARE LEGISLATION & REGULATIONS REQUIRE A MAJOR OVERHAUL AND MUST INCLUDE FUNDING MEASURES FOR ENFORCEMENT BY LOCAL AUTHORITIES AND REGULATION AND AccouKfA8IUTY OF LOCAL AUTHORITIE& Thanks to our amazing supporters and volunteers and their lundraislns efforts. GSRE Is in a very fortunale positlon whereby we can keep t•kn'n8 in and caiin8 for these f•buk￿5 do85. Howevef. wlth (he slowdown lft homes, •nd belni 41 up•ciiy. lulellni dw h•$ become •n tform. With a couple of substantial legacies iecelved in 2025. ou¢ reser￿ remaln In a ¥iable P051tion whlch allewte5 any stress re fmances wh6ch are carefvlty monitored to ensure the term sus¢•fjnabillty of ihe th•dty. The number of do85 In our care at the end ol the yeaf was slmil4r to the Prev￿￿5 yeaf. bei Ihai the <h•rity was •t full tap•(ily. We beI￿ve ih•t every do8 deserves • second Ch•￿t •t good lrfe $0 we continue 1¢ focus on ensurin8 that tvery do8 in our ¢iit was. and is, rtteyvi 5 fulfilling a life as t5 POS5iWe, whllsl workin8 With indivldual issue5. 50 Ihal when a hoffle 15 loo1É1￿ the d4s are more pfep•red lor the next step In thelr Ilfe thourney. Ooy spend bnier

In the kennel envlronment ihan ever before, especlany the workln8 breed5. but when that special home comts alr￿% we know that as a chanty we made the ri8hi decision for that dD¥ In 8lvln8 ihern ihal second chance and bein8 Patiefit. We tannot save every dry I￿t wdl Con￿nUe to sfft as many as we can whllsl ensur1￿ we st•y commliied to ts4(￿1 posltlve ch•n8es io Anlm•l Welf•fe. We wlll wnlinue lo '5houl out. fo¢ these dogs. sentlent beings who ale belng oYerlc•oked our thaotlc Govemmeni, GSRE will continue the fight. and wilh our amazing team of dedicated volunteers and supwrteis we wlll contlnue to fate all ¢hallen8ts head on. As I￿1¥$. Te•m GSRE Is keyl Stattstks A toial of 103 does were adopied from us d￿1￿ thls pefd fkndknl thelr fore4er hpmes, iIu5tratiw ihe battle rexues are up •8Ains1. Dogs adopted i(0 1016 1011 2011 2019 IOXI JQIA 2tr22 IOIJ 2021 total we look in 101 dc*s durlw the s•me perlod, vthkh Illustffates the 5atur•tlon of a¥allable space with one doq in and one do8 OUL 49 of these do85 came from the pound5 whefe they nmy oiherwise have been lo sleep •nd Is even hS8hef I￿n last year showing ihe Irue scale o( the pfoblem of do8 abandonment. No dags came In frorn other rescues durln8 the ye•r, but Inste•d w¢ offered lo rtlse Certa￿ dogs on other rescues behalf. 14 dogs We￿ either seized by Of si8Thed over to the poltce who reouested our help. In many cases the police removed the dr4 for ihe do8,5 5•fety or dut io neglect and the highest we have seen.

35 dogs wefe from theif trwnefs Wrth ihe usu•l reasons. We stressed to ￿￿er$ that It wa% their rewslblllty to keep theli do8s safe whllsi we tfled to help them fehome them. as ovr priority io be the Str*￿ who have no one else to fight their (aust. Another 3 pups were born wiihin the rescueduriTh8 the year froffl a bitth irTiw¥from councll kennell W0￿b￿ the reason she w•1 •b•ndoned. Dogs That Came Into Rescue Z016 xJ7 19 2J?J J25 As èt th¢ 3111 Dtc¢mb¢r 2025. GSRE had a total of I￿ do85 In their cw¢. on with the prevaous ye•r, Belni In the posltlon to ens•Jre th￿r s•fety •nd In m•ny ¢•sts, s•ve Iheif Ilves, ntver say no If we can help. 31 of th￿t dog5 welt In approved cornmerclal kennels we fe8ularly work wiih. 30 were In our own kenThels in Cofnwall. and 54 were in GSRE appfoved fosler homes. soine In fosief wfth a vlvw to adopt. We •lso h•d 41 dois who Ire permanent In our tsre for various reasons. This frfure has itscreased drasiically due to bad bfttdln8 meanins lo￿ terni medical condltk)ns ond behavlouf issue5. 0085 In Ouf Care 2ts io 201$

016 2017 2018 2020 2011 2012 2Q2J 1014 •lThC•Thww¢i•l Kor•as •kn Fwiw •lffi iv4T4Yrn io

Financial Revlew - The •c(ounts a5 •1 C(Nnpanies House and the Charity Comrni551on follw thi5 feport. Income Re¢eP•ed GSRE relles tot•lly on donatlons. yants. and fvndraisini events to contiftue to oper•te, especially now we own our own kennels. The rnaiority of our incoffle in 2025 was thfOU8h sacies as more recentty, Ir•nt livers look •1 ir•ntin8 lunds fof speclfK pwokcts r•iher than stand•rd runnlni costs whkh used to be much more ujmmon. A very important part of our I￿orne is fund-r•tsln8. •nd we •ppreci•le every sln8le person th•1 ¢p4es up their ilme to athleve such am•iin8 resulis. As ever, spee141 thanks to Sufiday GSO Walk Group and our Very spetbal An￿ Roberts who truly takt5 fund-rnlslng to another level. The many dtfferefit fvnd-ralslne •¢llvlt*$ ¢ontIn￿ lo moilv•te gur Inuedlbl¢ supporters io rtach inlo their purses and wallets to help the dois. We contlnved io attend shows such as All About Do85 around the country In 2025 and the fun 1kn8 show5 always raises tnthusi•sm and fuThds, The followin8 tsble is a breakdown of the ifbcome received IDr the financiil pernd. In¢om• Sourt• 202S 2025 2024 2024 2023 2023 Translef from W 11 GSD Donations £0 É50.649 EO 0.0% £178.475 48.( £29.888 £3.910 E700.0 EIOO,203 £0 0.0% £40,IXX) 4% £20.650 £1,3 73.5 £4S.163 £27,IXrfJ £377,497 29.445 £3,350 4.5% 65.5% Le acbes Ado ion donations DonatbDns from do8's prev6ous owner Merchandise sales throu8h web5rte l Merchandise sales at shows Colltciions at Shows & othèr fundraisln events Sponsored activities Raffle5 & auctrons Wblk Iroup tolledions and fundraising Show adivittes - do8 shows, fa5te5t recall Grft Aid Bank Interest 4r4a Commission {In5urance lans Total 0.5% o.ox £3,507 £3,024 0.5% £3,668 0.5% £1,391 £9.234 0.5% 2.5% £1,349 £7.316 £i.S41 £5.074 0.0% o.s% i.o% £16,954 £28,545 É14.176 4.5% 7.5% £13,074 £27.425 É12.107 2.5% £13.589 1.5% £23.972 . 2.5% £11.550 £8,126 1.5% £7.￿1 £14.583 É4.970 É3,767 £14.380 2.5% É4.129 1 l.ox .069 0,5% £14.581 £1,931 3.￿5 1.5% 0.0% 0.5% 1 £371,599 loo% £576.454 iLW• £954.970 li

Experdes As aP4VaV5 GSRE'S bl8gest tost In 2025 was for commerdal kennels. and wSih rescue rates no loneer e¥istlng in the cornrnerti•l world our kennel costs escalated. especialty In Nottiniharn where we are now hav￿8 to pay £21 a nighl per dog. Running our own kennels for o couple of yeafs IK)W. the befiefrt is staggerln8 in te¢ms 015èv+nasl Vets are our Trexi hlghesi cost and whilst wè tontinue to ensure all of OUT doc5 are mlcrochipped. vactinaiioTrs started. and in rnany cases, neuteis and spays c•rrled out. we also lficurred 50ffle larger surgery costs. We Ire fortunate ihat the Ma1￿1ty of vets we work wlth are very vnderst•ndlni ol the needs ol a r*s¢ue and support wwk we do, bul costs h•ve eS￿l•led considerably. GSRE has always ensured that thedois In our tirt iectlve the medlcal treatment they afe entrtled io and wlll do evetyihiw to ensure the lon8-term wellare of all ol our d¥s. The iable below 15 a breakdown ofexpenses Incuirod durln8 the fr¢anclal ￿f￿d. Cost Swfce 2025 2024 202J Kennel costs Food costs Vet costs £249.266 £2 1.755 É53.011 £203,811 £26,810 £51.703 É176.689 £11,917 £46,537 S clal d￿1$ & Camelot Kennels Bfeèkdowr• for 2025.. £ 6.595 v•cciNatt¢fiS £ 290 micriJchippln8 £10.660 neuters and sp £35,466 other mtdical trealmefit Includes beddth￿ toys Toys & uipment costs Traini Costs Tr•nsport Costs £877 £379 £552 £0 £1.406 £0 £680 E4.880 fle8lSteied tiansPQrtefS for lo transport funs or muhi Kmnel deieryenis afid equiprntnt Oeaninc Equi mefti Waste Rern¢)v•l Pest Control Cost of rnerchandise Fundra6sln8 costs Overhead costs £2.445 £1.937 £771 £2.772 E274 £1.860 £4,732 £0 £1341 £1.392 £0 .765 Kennel w•ste Includes purchase ol st¢xk and e and acka in Incltsdes Pfintini of pfomolioml and rosettes lor fun do shows Insurance, svbscripttons. bank charyes and overhead costs at Cameloi. £3.162 £1.593 £1.486 E43.687 £78.089 £17.307 Total £384.889 £372AOI £260.195 12

The table below is a more detailed breakdown of overhe•d costs whlth Imustrates costs kKurred ￿ Own1￿ ¢vr own kennels. We have endeavovred to ensure ihal we are geltiry the best valut eur n￿￿ty in all areas. Overhead Costs 2025 2024 Rate5 Premises Insufance Heat. ht & Power Posl Tele one Repairs & Renew•ls land Maintenance Subscriptiorhs charli￿lnSUraTrce 8•nk cha Le al Fees Healih & Safety Fees ProfesS￿nal Fees ¢iat•on É6,232 £4.947 £7.662 £19 £639 E3,518 £1,043 £2,022 £1,163 £1.605 £0 £225 £5,337 £4,858 £7.139 £0 £63 £39,119 £1.668 É793 £i,In EI,605 Éo 2024 includes fencin £0 £15.302 £78,C69 £14.612 £43,687 We continue to use fundraising pl•tlorm. 'GoodHub' ￿ we stul flnd Ihem 4 rel￿ble and COs1-effedjve solutlon. GSRE uilllse •n onllne d•¢•￿Se whleh enables us lo fully track all t s. rnovements from entering our care to iheir new homt, whitsi coll•iir¥ all revant Infofmation with re8ards to a55e55fflents, rnedlcal hlstory where i¥•il•ble and rnedical treatments given. It also enables us fo keep • full database of adopters ènd volvntters with home check reports and folk)w up Snformation, Whilst thi5 does incur a monihly thoiie. il 15 an invaluabte tool which we could nol man•8e without. PoN¢y & Funds H•ld Ouraim used lobe to keep unrestrlcted restivts lexelL•dlhi fiJ¢ed assets) équivalent lo at least 3 mortihs average expenditure, however due to the 5k¥w-down In the number of do8s beln8 rehomed. we irbcieased this to a mlnimum 016 monihs. The feseThes lexcludln8 rtxed assetsl re needed to meet the w¢>rklw Cipiiil reouliemtfits of the charity should the source of funds Snlfkantly decrease any re•son for a short peri(Kl of time.

Sum and th• Futu 2025 continued io be th•llen61Th8 •nd wt Ire silm In ihe s•me posltlon of no lh¢ •t the end ol the tunnel due to Go¥efnment and Local Authoritie5 faillws. Lxtn51w of fescues15 Illole Important now th•n ever before •fid m￿￿hiPpIne rryul4tlon needs drastic updates ￿ wilh thls. there could be m(Ke xcoufttability from tht day a dog is old enough to be rnltr¢¢hped. Chan8e is needed from the top down. •Trd il 15 more urgent than befofe. GSRE came through another ytar financially strth￿ and we a￿Very proud ol thts as wt kn¢M many rescues ire strug8lln& bui of course tht5 could have been achleved withoui th btllef and trust (tom •ll ol our 4mazlhs supporters and ¥oluntee¢s. We wlll Contlnue w fKe all challen8ts heèd on. Whilst mentatty challe￿Ing at times. and emoth?naltydrainin& we WIH noi 8we up the Wi to knpfove •ntyn•l wtlf•re in ihe UK •nd fof the breeds thai need GSRE could noi exlsi ￿thOut our volunleefs and supporters. •nd we m•y not 5•y11 enouih. I￿t we ieamy do appreclate everythin8 that YOU do to make k potslble for us to help as many does as we do. It do￿ not matter how much or how Ilttle as every penny and every mlnute re•lly does eoufii, The do8$ will alway5 bt Our prlorlty, and we wlm conilnue to bt iheli ¥ol¢¢. Th¥nk you illl Appfo¥ed by the Tiustees on 21 August 2026 and $18ned on thtlr behlf ty. Elliabeth 8rown Truslee. DirKtor ènd Cwnp•ny Secretary 14

Y••r VKl•d 31 D•cwnber 2025 ol c￿vry Iwi) are reg1ts7sl>lÈ for pryrirKJ a tr￿tee¥ UKI flwtsl stavryts a ¥lew L the state of affaws of the charab compary UKI d Ihe re50Lrces cl resowces. I￿1￿11￿j Is kome erfp¥Nlltwe, fty that pukn1. In wepadv¥J ltsl the tt•rty In lxfji1￿. cuw at any the the dwty arY tD ￿aL￿e tt￿rn to erwe that the ststemerKs cTrWy Cwis Act 2006. Thry are ru•￿ble for safegu)rdi the Truthes L4 tr¢ Qwrly ￿ 21 lo26w￿ s4W ￿ s t*haW ty: Chalr Is

we set wt ￿ pages 17 to 25. R•Apxtl¥• r•spMdblllUes <1 •nd ex•mlner ustees are so the direct￿5 (é the oxnpany the IyaT) we fr the of tr acc￿t> TP tsustees C￿&#Jer th * awllt ts n( reqjired f¢Y tti5 seciJn 144 d tr CIHrities k(2Qll (tr Chtrttlts Act) and that an ex•Thnatlwb 15 examknatkn, I Is my rew&tiiity to: exarri￿ the tharttfs Krourts se(tKffi 145 rf tr Owrftles Art sectKn 145(5) (b) rs the Ch¥ltyes kt; exannath)n INI￿leS a r•rfeof d the acc0J￿r¥ recgyds kqx lry the charty t )d¥tkn do nct ryty4kbe all the eArknte that wNdd be rty1r￿ In and Is The th¥ty's grrts5 hiccffie e¥ceethd £250,¢>XI ar¥J l am quallfled to urMrtake thts ty bdr¥ In (￿r￿£t1)n vdth Th examlrbjtlrm, M matter come to my attentH￿. ¥thlch s¥4E5 r￿?￿)ble CaLtse to bekn that In mJtubJl respect.. ¢ther thon ary requtrement that the att￿rtS arx1 falr Is nrt è matter c(Ytsklwed as part d an Ir¥Jewtht exwnlr4th; (Y the x¢o￿lts have bew pwrgj kn •CrrydJ￿t **h the ch￿ S(W (FP5102). Qatre Fthlllps FCC4 4 Park Square Y15 6Jl Date: 24 4iust 2026 16

thr i li 1}151 IBI

GeRMAN SHEPHERD RESCIX EUTE UMITED 2025 1024 Flxed Ass¢ts Tw¥Jibk A55d5 li fAi,185 Stc<ks 1,276 1,108 5,133 Cath at bjnk & kn hnl 456.921 462,185 4n,250 Credltors: Amounts fallkng due 4thln one ytar 14 30,045 40,533 432,140 431,717 Totsl net •9gets 1,073.325 I,Cfj6.615 Funds of the charity: UNestrKted tuThds: 15. 16 i.orJ,325 I,IA6.615 Total Funds 17 I,on,325 I.1￿.615 477 01 the kt 2(￿ rdètry to Sff441 comwde the have req￿ the c(xrrf)any to rtrtan ￿ a￿lIt rf Is accotmts for tr year In ￿COrdaI￿e wih $￿In 476; fmamal StatuT￿ ￿ p4e$ 17 to 25 ¥bve awo¥d Tntstees en 21 AL￿￿$t 2026 and we the PA￿d by: Ellobeth Dron- CIMlr

Ff the yow 31 D•(mber 2025 2025 Z024 {13,290) 14,612 (4.9n)) (168) 1.145 10,488) 201,153 13,122 (4,128) 2,T23 (68S) li C<rfy75el(IKrea5e) h st( Decrease/(Irtsease) In dttyS IrKrea5e1ld￿) In credliors Net cash used In operatlng xtl¥lti 13 14 Cash flows froffl Inveyilrrfj •ctMlleg In￿reSt irKome Sale d tsr¥Jlt4e Ily￿ asse Purctw crf tan9lble fFed Jssrts Cath pro¥ld•d by (used In) Invertlng •ctlvltl 4.970 4,128 li 4,071 (34,260) Cajh used In fln•ndry acllvltl Isoo Imas¢l(decreJse) kn cath arnl cath ffjLthIts •t tr* beoknnkfj rf the (9,088) 184268 Cash cash 4ut¥alerts & the Start d the year 281.741 Total calh and alh equlvalents •t the of the year 19

GERI4AN SHEPHERD RESCUE ELM UMTTED Notu to th• An•ndal Stat•m•nts lor th• Iwr 4nd•d 31 DeC￿lber 2025 Ellte Umlal Is a rpjlsttred chorty. reg&rakn I 1509281, c¢wny Kumls, Lwnceth Ro•J, Kelty &Jy, Callwon. Crnl, PL17 8PN. to UK ar¥J Rq>Llk ol Irelbrwj {FRS102) I55￿0 cn 16 JLty 2014; tr F￿r￿[al StsTrJard aFplkab tr) LK Lrdarnl {FRS102) ¥KI Chars 2011. trarwath Val￿ urtess Other￿ slated kn the rele¥ant r#Xes to t￿ KCOLrt& a&ed h rKrte 2. All gants arKI are frx gfOSS vtse rÈt&0ab￿ as as tP•t are top rnarthl meawrement. Thls inclLAles gths ffl kind, lrtlL#ltd at e51wnated valuathm. F(Y gac14 6 taken as drte ¢)n Vatkh has bew mède by the Exeartor5 to Tn&￿5 that a distro￿ts1 wol be mth. In the os¢ of pWf￿rnar￿e re￿ tyarts. Is th rwtl to eXt￿t ttr4it dwty has &ynt tl rtyt to ¢cA￿J￿al￿￿ by ts rnlmrtt. . Tax re(blms ghl& re9xJrcts frryn th redalms are lrn the ktrts 5arne time as or gfft to Ily (e. ExpendltuTe Ail e¥pern1ftu￿ ts rwnlJ tytr trwe Is a legal or ¢￿￿t￿￿tIVe lo that expendliLfe, * ts VAT ¥•thlth fulty reaw￿, All crAs are al(Kated to aFFlt&ie e￿￿1t￿t ltsMllrKJ that ar#1 those costs d an nature rtessw to swwort them. tr co&s cl trJlry fcr i)JKka6kng pixp¢)se&

ftyed 455ets are IIKI￿ ot CO￿ Ttrve are no ￿Ka￿LSe￿ flxed o5set& Cpre[￿t￿ 15 to wrfte Lif ts cost ￿ v3fuatkn, th eSt6mat￿[ wall￿5. of al flxed Freel￿ {Kk•Jlr#J IWKI ¥tse stsa¥Jht 2ry1 PW stsafvJht11 21fvt￿ceé ty Iht charfty. tly are nxaued at tr cash ￿ cther cr￿S￿l￿at￿n exFth1ed Cash aThJ cash eoival•ts comwlse cash cm hèrnl cal depxtts. •wJ thr slLyt.ttsm hig1 Ilojd Investments that are r&￿tY crThYrtlble to a of cth arnl are 9A>JeQ to w) Wlkant chaty L￿{lit0 e rttrgwl ¥twe It b nlxe IW Ihjt tlve Is a re￿1 or c(m5tnth dJlh3ar has (Tedltrxs me￿red at seityeffrt affi￿￿ts kn ary trade The tharty ¢￿ty has bast finar<lal ￿￿tnrnts. Bask flnarKlal trWrLMwls are for ￿ knilal rec(wltkM at trarsKlkxb Val￿ JKI subseqwty rwswed & t￿1r sdlkmert value. Furn15 hekl (*wlty are: 21

Income from Dona¢Sons Funds 2025 Fund5 2025 2025 Fund* 2024 Funds 2024 2024 84,447 84,447 ri,959 Tl.959 25,(AKI 27,IKX) 374,997 &arts Legades Gtt redalnvj 178,475 178,475 374,997 277 25 494 336 Fund• 2025 Fund• 2025 2025 Funds 2024 Funds 2024 2024 Fundj 2025 Funds 2025 2025 Funds 2024 Fund$ 2024 2024 Fund5 2025 Fund5 2025 2025 Fundg 2024 Fwd5 2024 2024 FwKlratslrvJ 85,357 85,357 72,422 n,422 Exp￿dI￿are on dwrft•ble xtmtlu by fvnd type Funds 2025 Funds 2025 2025 Funth 2024 Funds 2024 2024 378,261 378,261 365,(￿3

GERMAN SHEPHERD RESCUE ELM uMrrED EXp￿dI1¥re on rnllng fund• by fund typ• Fundg 2025 Funds 2025 Z025 Funds 2024 Funds 2024 2024 3,162 3,162 1,593 1,593 (thr trajl 4520 4.520 22 Expendlture on (harftsble xtlb4tleg trrf Actlvlty Type Actlvft6es Support Total 2025 Totsl 2024 dlrrf¢ty 378.261 378,261 365,083 1606 379 867 366 689 l& Indty•tht ExamInatI(￿ Fe•$ Total 2025 To¢¥1 2024 11. Tanglble AsJ¢ts Kennel and t￿lIdIng$ fqulpment Total Cort 665.774 2246 668.020 120 3 025 F99 At 31 Ltéth 2Q125 At l 2025 C>orye for tt* ye Ehmlnatvj d 31 D￿ember 202S ,561 13,921 561 (4)1 13,122 14,522 Net B¢>ok V•lue At 31 t)e￿mber 2025 At 31 2024 23

GER14AN SHEPHERD RESClk ELtTE UMITED Donatsl goods lor Totsl At l January 2025 lthé kn ped(xJ 1.108 I,IL 31 202S At 31 2024 Tot•1 2025 Totsl 2024 Debt(¥s 14 Cz•dltor•: tsIIINJ (*•• within OM yew Totsl 2025 Total 2024 Traje tyedlcKs uLMts 40.533 IS. A￿1￿1% ol dW{ts￿ funds Unrestrlct¢d funds At l janu￿ 2025 Income Exp¢ndlture At31 2025 10. lund# 641,185 462,185 641,185 462, 185 Cutmt assets CurMt 1073 325 24

GERMAN SHE141ERD RESCUE ELITE U14rrED to th• Flnandal statem￿ tr the >wr eThed 31 D•c•mb•r 2025 17. ts a comp•ry h'miw by guarant￿ and has rK) share cam￿. In of t w, Ihe In re¥d of tre guarantee is lThited to £1 pel of dwty. Total 2025 Totsl 2024 No Trustee thJ ary per5¢Th1 knterest In wy crrtrnci c tw6actkn hrto ty tl tr¢ yw (2024- NL). 19. Taxatl

GERMAN SHEPHERD RESCUE ELITE LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2026 2025 2025 2024 2024 IrtYJn•• 84.447 85,357 178,475 77.959 72,422 374.997 348.279 525,378 Grnnts . imfestrlcted 25,1)CK) 3,069 14 3,767 18J50 Watts arn1 rs atanir Waste d15pcwI 6.232 2.445 2.772 274 7,537 5.337 1,937 4,733 Pohw, Ihjm 7,139 40,787 4,858 1.033 Preffdses Insurar Heatth •wJ salrty TptfK 4,917 225 (29.Th) (65,887) 249.266 53,011 21,755 205,217 51.703 26,810 Vet ojsts arxl costs Trnk#'rg costs Trnnspryt 379 19 2,D22 793 Inwrnnce5 Cost of fU￿j acthilt*s 1,163 5.022 I,Ir2 6.113 (355,132) (306,915) Opor4tlTra (dofidt)l•urplu• (18,260) 197.025 Bank Interest recefved N•t (d•lklt)Isurplus (13,Ml) 201.153