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2024-08-31-accounts

Charity registration number 1162386 (England and Wales)

WECARE WORLDWIDE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

WECARE WORLDWIDE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miss R L Carruthers
Miss J M Mockford
Mrs C Bailey
Miss E A Donnan
Mr Philip Mansbridge (Appointed 22 September 2024)
Head of Orginisation Janey Lowes
Charity number (England and Wales) 1162386
Principal address Oak Lodge
Kirkbride
Wigton
Cumbria
CA7 5JH
Independent examiner Stuart Farrer FCA
Saint & Co Chartered Accountants
Sterling House
Wavell Drive, Rosehill
CARLISLE
CA1 2SA

WECARE WORLDWIDE

CONTENTS

Page
Trustees' report 1 - 9
Independent examiner's report 10
Statement of financial activities 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14 - 28

WECARE WORLDWIDE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees present their annual report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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)" (effective 1 January 2019).

Objectives and activities

WECare Worldwide is dedicated to transforming veterinary medicine and animal welfare globally by empowering compassionate and hardworking veterinary professionals to elevate standards in both developed and developing countries. This commitment ensures a standardised profession where all animals, whether stray or owned, receive the highest quality of care. Ultimately, our efforts will create a lasting, sustainable impact on animal welfare, reducing suffering and addressing street dog overpopulation in various countries; with Sri Lanka being our first area of focus.

We began our work in Sri Lanka in October 2014. This small country presented a significant need due to its estimated 3 million street dogs, poor animal welfare conditions and inadequate veterinary standards nationwide. With approximately one dog for every eight people, Sri Lanka perfectly matched our criteria for a region facing a severe roaming dog overpopulation problem.

2022/2023 saw us navigate a challenging year where we strove to maintain WECare’s vital impact, ensuring street animals in Sri Lanka still receive emergency treatment during what was a tough year for us, as we contended with challenges facing charities everywhere. The ongoing cost-of-living crisis in the UK, coupled with Sri Lanka's political and economic instability significantly impacted WECare's income and expenditure. Despite these hurdles, we worked hard to continue serving thousands of street animals in need of veterinary care.

2023/2024 has been a year of unprecedented success and growth. We are proud to report that we not only exceeded our ambitious revenue target but also successfully launched our mobile CNVR clinic. This year also saw us forge strong relationships with like-minded organisations like Happy Doggo, amplify the charity's profile through significant media exposure (thanks to Ben Fogle's revisit), and continue to build a robust and dedicated team, strengthening departments with new staff appointments as well as adding to our trustee board. These achievements lay a strong foundation for our future endeavours and we are dedicated to building upon these successes.

WECare Worldwide’s purpose is:

To promote humane behaviour towards animals by providing appropriate care, protection, treatment and security for animals which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters pertaining to animal welfare in general and the prevention of cruelty and suffering among animals, in particular but not exclusively, by:

Our initial aims for 2023/2024 for the year ahead as described in the Annual Report for 2022/2023 were as follows:

Public benefit

The Trustees confirm that they have complied with section 17(5) of the 2011 Charities Act in having paid due regard to the Charities Commission guidance on public benefit.

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance

SUCCESSES

Launch of Mobile Clinic

We are incredibly proud to have launched our new, high-tech mobile surgical unit. This strategic capital investment is a gamechanger for WECare and for managing the street dog population as a whole. It enables us to conduct daily CNVR (catch, neuter, vaccinate, and release) programmes while maintaining the absolute highest veterinary care standards. We firmly believe there should be no compromise or difference in the level of care a roaming animal receives compared to an owned one.

We once again would like to reiterate our thanks to the corporate and individual sponsors who have helped us achieve this significant milestone, which has allowed us to increase the number of street dogs we have been able to neuter and collect invaluable data from through our administration of microchips to all patients treated at the facility. Once launched, our aim was to achieve levels of 400 neuters per month via the mobile clinic, and can report that we achieved or even surpassed that target every month between October 2023 and August 2024.

2024 Year of Celebrations - 10 years of WECare

This year we are excited to be celebrating a decade of WECare. Over the last 10 years, we have achieved some incredible things, treating over 25,000 animals in need, and making the community a much safer place as we work to eradicate rabies from Sri Lanka. It has also been extremely challenging over the years, but we are very proud to have come this far. We started as a one-woman operation in the back of a tuk-tuk back in 2014 and are now a 60 person global team, striving to provide the highest standard of both emergency and preventative veterinary care to the street dogs of Sri Lanka, day-in, day-out. We are excited to celebrate this achievement together later in the year, alongside the community who has made all of it possible.

Revenue Growth

Leading into this financial year, we set ourselves an ambitious revenue target, confident in the unique opportunity presented by our founder's appearance on Channel 5's "New Lives in the Wild." This media spotlight, combined with a conscious and heavy investment in our fundraising team, was designed to propel us to the next stage of our journey and unlock new funding avenues, driving tangible change. The results speak for themselves: we're thrilled to have smashed our target by over £100,000, marking a truly remarkable year for WECare.

Collaboration with Happy Doggo

We are thrilled to have established a collaborative partnership with Happy Doggo, finding a truly like-minded organisation that shares our immense drive for change and making a tangible difference.

Further solidifying this valuable alliance, in February 2024, Happy Doggo pledged grant funding totalling £122,400. This substantial commitment is specifically designated to cover 156 days of neutering to be carried out in 2024, with a mutual goal of achieving a minimum of 3,900 neuters, vaccinations, and microchips across those days. This collaborative effort will significantly boost our collective impact on humane dog population control.

Strategic Progression

This year, we have started to see the benefits of our strategic capital investments. Our new mobile clinic has been instrumental, and in February and March 2024 we became a fleet with a 'Three-Healer' veterinary ambulance and a dog catching truck, thanks to the generous sponsorship from The Jean Sainsbury Animal Welfare Trust. After years navigating significant challenges, it's incredibly gratifying to be back on track, making a substantial impact on animal welfare.

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

DIFFICULTIES AND CHALLENGES

Hospital premises

We continue to experience challenges with our existing hospital premises. For eight years, we have operated from a small rented property in southern Sri Lanka. We have for some time now outgrown these facilities however we have not been in a position to fundraise for the much needed capital project of raising funds for the new purpose built hospital we are desperately in need of. Our primary challenge for the coming years is the poor state of maintenance of the building, with widespread leaks and collapsing structures. Despite a contractual obligation, the landlord is not in a financial position to undertake these crucial repairs. This puts us in a critical situation, making the urgent need to secure our own purpose-built premises a major undertaking for the next few years.

Veterinary Professionals within Sri Lanka

The recruitment of veterinarians in post-crisis Sri Lanka presents a multifaceted challenge for WECare Worldwide. The economic hardship within the country, coupled with the allure of significantly better professional and personal opportunities abroad, has created a severe brain drain in the veterinary profession. As a charity, WECare Worldwide faces the additional hurdle of not being able to compete with the lucrative salaries and comprehensive benefits offered by private practices, both domestically and internationally. Addressing this challenge will require innovative strategies, a clear articulation of the unique value proposition of working with WECare Worldwide, and potentially exploring new models for sustainable talent acquisition and retention in the current economic climate.

We are fortunate to have the support of international veterinary staff and volunteers, however, in order to ensure WECare Worldwide can achieve sustainability, we must ensure we recruit, train and nurture the veterinary profession here in Sri Lanka and that is hard when much of the talent is attempting to leave the country.

We deeply appreciate the dedication of our volunteers; however, thanks to a robust recruitment drive over the past few years, we have strengthened our permanent teams to ensure stability and continuity within the charity, allowing us to utilise our volunteers for specific project based roles, therefore providing crucial supportive roles, rather than being essential for our full operation.

Operational Performance

In 2023/2024, we fulfilled each subsection of our purpose in the following ways:

a. Providing veterinary care:

In the ten years WECare has been operating as a charity, we have made a significant impact on animal welfare in Sri Lanka. Through our dedicated hospital, CNVR (Catch-Neuter-Vaccinate-Release) efforts, and outreach programmes, we have provided lifesaving treatments to animals, neutering 13,883 , and administering a total of 23,616 rabies vaccinations . Our profound impact stems from safeguarding both animal and human lives. We have significantly alleviated suffering and prevented countless deaths of roaming animals who would otherwise have gone without critical treatment. Furthermore, through our comprehensive vaccination programmes, we have actively reduced the spread of rabies, a universally fatal disease, in our ongoing efforts to eradicate it from the island.

a. Providing education:

Our mobile clinic serves as a vital educational hub, offering valuable presentations and informational videos on its embedded television screen for community viewing. In Sri Lanka, where animal welfare and community dog care education are practically absent, sharing this knowledge is crucial. We aim to foster a change in mindset across all age groups, thereby protecting animals from disease, cruelty, and neglect, while simultaneously safeguarding the human community from deadly zoonotic diseases.

In June 2024 we were fortunate to receive £10,000 in grant funding from The Anthony Martin Trust for costs associated with the production of rabies videos and a community engagement officer. The series of rabies videos will cover all age groups from children through to adults and be utilised both in our school education programmes, in the education zone at the CNVR lorry and they will also be shared with other organisations on the island so that we have wider reach.

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Through the introduction of our CNVR mobile clinic and our collaboration with the charitable organisation Happy Doggo, we have managed to scale up our neutering programmes significantly during the year.

Compared to the previous year where we neutered 906, vaccinated 915 and microchipped 908 dogs, we achieved the following numbers:

Neutered - 4,454 Vaccinated - 5,050Microchipped - 4,245

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Financial review

Our income saw remarkable growth this year, almost trebling from £335,419 to £996,894. This significant increase surpassed our projections, which were estimated around £890,000, and is a testament to our strategic planning and the success of our media exposure.

Our income of £996,894 is made up of several key areas, showing significant growth in most categories compared to the previous year:

This detailed breakdown highlights the diverse ways our supporters contribute, with direct donations and gift aid leading the significant overall income growth.

The surge in direct donations to WECare was significantly boosted by Ben Fogle's revisit to WECare's founder on "New Lives in the Wild." This renewed media exposure brought the charity back into the spotlight, highlighting its vital work.

This exposure also opened the door for a valuable partnership: a collaboration between WECare and Happy Doggo, another charitable organisation whose founder was also featured in the "New Lives in the Wild" series. This synergy between both organisations dedicated to animal welfare, and feedback and encouragement from the viewing audience led to both charities working together to achieve their shared goals.

During the financial year, the collaboration with Happy Doggo provided significant financial support, with £83,710 specifically allocated to WECare's CNVR (Catch, Neuter, Vaccinate, Release) programmes. This vital funding directly supports the humane management of street animal populations.

Furthermore, Happy Doggo contributed an additional £86,938 to commission WECare's second CNVR mobile clinic. This investment is crucial, as mobile clinics enable WECare to reach more animals in remote locations, significantly expanding our capacity to provide essential veterinary care, including neutering and vaccinations, to street animals who might otherwise lack access.

Battersea Dogs & Cats Home, also generously offered continuing support by awarding £32,497 in funding towards CNVR in October 2023.

We are extremely grateful that the increased level of donations received directly translated into a significant rise in gift aid claims. This means that for eligible donations from UK taxpayers who completed a gift aid declaration, the charity was able to reclaim an additional 25p for every £1 donated from HM Revenue & Customs (HMRC). The £73,723 claimed this year represents a substantial boost to the charity's overall income, effectively increasing the value of those individual donations at no extra cost to the donor. This highlights the importance of encouraging eligible donors to tick the gift aid box, as it's a crucial mechanism to maximise the impact of their support.

We kicked off the financial year with an emergency appeal that thankfully garnered an outpouring of support from a wide range of sources, including some very generous contributions from regular supporters and various trusts. We are consistently humbled by how these individuals and organisations step up for us, and who never lose sight of the crucial importance of WECare's mission.

We take the responsibility of protecting our supporters' personal information very seriously, so while we can not name them individually, we want to extend our sincere thanks and acknowledgement to everyone who contributed.

At the beginning of the year, the second pledge of financial support was gratefully received from Daraz of £12,235 which is included in the corporate partnership figure above. These funds were earmarked specifically for the first CNVR mobile clinic, helping us get this incredible piece of kit on the road, quite literally!

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

In January 2024, WECare received a dedicated donation of £8,000 from a supporter. This generous donor specifically requested that these funds be used to promote the charity via social media, with the clear aim of increasing WECare's online reach and attracting new supporters. This focused funding enabled WECare to invest directly in strategic social media campaigns to broaden our digital footprint and connect with a wider audience interested in our mission.

Our income from fundraising events brought in a total of £9,092 from £4,384 in 2023. The majority of these funds were raised by dedicated runners participating in the Great North Run, alongside the creative initiatives of our supporters.

The charity's lottery generated £1,872 in income, a slight decrease from £2,058 in the previous year. We recognise that this is an area with potential for growth and more active promotion. While our current fundraising strategy has prioritised other initiatives, we hope to channel more effort into the lottery soon to maximise its contribution.

Merchandise sales saw another increase this year, rising from £4,716 to £5,094. We are excited to build on this success, particularly with our popular t-shirt lines, by introducing new designs. We are proud to promote these high-quality items, all manufactured right here on the island that has been our home for the past decade.

In line with our strategic growth plans and the significant scaling up of our operations, particularly the almost daily CNVR (Catch, Neuter, Vaccinate, Release) programmes running for nearly the entire year from our mobile clinic launched in October 2023—we had indeed anticipated and budgeted for a resulting increase in expenditure for the year. This rise in costs reflects our expanded capacity and commitment to maximising WECare’s impact.

Our veterinary and related costs rose to £116,968 this year, up from £108,270 in the previous year. A significant factor in this increase in addition to the factoring in of increased operations was the rise in customs and shipping costs, which climbed from £7,527 to £12,607. This jump was a direct result of achieving a key goal for the year: successfully shipping our 40-foot container of vital supplies from the UK to our clinic in Sri Lanka.

One area that did decrease within these costs was animal feed, which fell to £12,708 from £16,962. In previous years, we have seen an increase in this area due to economic factors. However, a reduction in the number of long-term resident dogs requiring feeding, thanks to successful adoptions, combined with a slight stabilisation in the need to supplement community dog feeding, has led to these welcome cost reductions.

In terms of other direct expenses, several areas saw changes this year:

Advertising expenditure increased this year to £9,902, up from £6,926 in the prior year. This rise reflects our deliberate strategy to invest more significantly in promoting the charity. A key driver for this increase was the commencement of social media campaigns, funded directly by a generous individual donor who specifically allocated their contribution to support our efforts in this area. In addition to social media, we also commissioned various promotional videos to further enhance our reach and impact.

Employment costs amounted to just under 34% of our total income this year. This reflects our strategic decision over the past few years to invest in our staff, a move that has provided us with a stable foundation. This investment has allowed us to make significant strides toward our overall charitable objectives, which for many years had been incredibly challenging due to uncontrollable economic and global events. The establishment of designated departments within the charity has helped alleviate some pressure on management. Despite this progress, we still face ongoing recruitment difficulties, particularly in finding veterinary surgeons willing to commit to long-term work in Sri Lanka.

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Reserves policy

Our rental costs rose considerably this year, reaching £15,574 compared to £8,287 in the previous year. This increase is due to several new and expanded rental commitments. We incurred additional costs for truck parking rental fees, rent for the site of our proposed café premises, stock storage, and CNVR land rental. Furthermore, we secured an additional level at our existing Penthouse premises to accommodate our growing operations.

Similarly, our utility costs rose in line with our increased operations, reflecting the expansion of our activities.

These increases were anticipated as we scaled up our programmes and facilities.

Our computer and software costs increased from £3,634 to £8,187 this year. This rise reflects a strategic decision to make additional investment in hardware and veterinary software to support the scaling of our operations.

A notable new addition was the introduction of the Connecteam HR app in September 2023. This platform has already proven to be a huge success, significantly streamlining our internal processes and keeping our team connected. This investment in technology directly supports our expanded activities and strengthens our organisational efficiency.

Costs associated with travel increased from £18,808 to £33,690 during the year. This rise, however, remained within budget and was expected, primarily due to the running costs associated with the mobile clinic. This total includes a variety of expenses such as driver fees, tuk-tuk charges for daily travel, and international travel costs for stock runs and essential meetings with major donors and corporate sponsors.

Property expenses decreased this year to £8,290 from £13,009, as we focused our resources on other critical areas. However, these costs are expected to rise in future periods. This increase is necessary to bring our current hospital premises up to a suitable standard that will serve our needs until we are in a position to build our new, purpose-built facility. We are hopeful that we can encourage a donor to assist us in covering these essential costs.

The charity saw repairs and renewals increase to £6,737 from £2,351 as we expanded operations with the mobile CNVR unit being rolled out. This lorry is a hive of activity, treating between 30 and 40 patients per day, 5 days per week which results in significant amounts of wear and tear across the equipment. Some of our other equipment, such as washing machines and generators, are now over 5 years old which has resulted in far more frequent breakdowns and repairs. We anticipate that we may need to upgrade these in the near future.

Cleaning expenses for the year reached £12,169, up from £11,311. This increase is a direct result of scaling up all our operations while always maintaining clean, sterile environments imperative to upholding our hygiene standards at the highest levels, ensuring the health and safety of both our animals and staff.

Platform processing fees saw a massive jump this year, increasing from £5,112 to £24,142. This significant rise is a natural consequence of the large increase in donations received throughout the year. A contributing factor to this increase is the introduction of platform costs such as Fundraise Up. While this software enables us to perform in-depth analysis of donations, and comes with additional costs, it also encourages donors to cover processing charges themselves. We are pleased to report that this option is frequently taken up, effectively counterbalancing these costs to the charity. We also continue to encourage donors to make direct bank transfers to one of the charity's bank accounts whenever possible to avoid fee deductions. We remain committed to continuously monitoring charges to ensure we keep fees as low as possible.

We are pleased to report that we were able to make significant capital investments this year, including a tuktuk ambulance and a dog catching truck. Both of these crucial vehicles were funded by a generous grant received from The Jean Sainsbury Animal Welfare Trust during the previous financial year. We extend our special thanks to The Jean Sainsbury Animal Welfare Trust for funding these impactful items, which greatly enhance our operational capabilities. Additionally, they further demonstrated their commitment by awarding us £10,000 this year towards the charity’s running costs, providing vital support for our ongoing mission.

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Total funds of the charity amounted to £769,792, of which £188,736 was restricted and £117,613 can only be realised on disposal of unrestricted fixed assets. The resulting free reserves are £463,443.

Plans for future periods

Below we have outlined our aims for the coming year.

Aims for 2024/25:

Structure, governance and management

WECare Worldwide has been set up as a Charitable Incorporated Organisation (CIO), registered with the Charity Commission (registration number: 1162386) on 24th June 2015 and has a structure consisting of a Head of Organisation, four trustees and between five and ten committee members, at any one time. The object and powers of the CIO are established in its governing document which is an association constitution.

The Trustees confirm that they have complied with section 17(5) of the 2011 Charities Act in having paid due regard to the Charities Commission guidance on public benefit.

The Trustees who served during the year and up to the date of signature of the financial statements were: Miss R L Carruthers

Miss J M Mockford Mrs C Bailey Miss E A Donnan Mr Philip Mansbridge (Appointed 22 September 2024)

WECARE WORLDWIDE

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Recruitment and appointment of trustees

Any person aged 16 or over can be appointed as a trustee of the charity by approval of the other trustees. Under the requirements of the constitution one third of the trustees (the longest serving since their last appointment or reappointment) must retire annually by rotation, but will qualify for reappointment. The number of trustees shall not be less than four or more than eight.

Prior to the appointment of a new trustee and during the induction phase, we provide a deep dive into the charity's mission, vision, values, history, current strategies, programmes, key stakeholders (beneficiaries, staff, volunteers), and operational structure. We also invite the potential candidate to attend one or two trustee meetings prior to appointment to ensure they have sufficiently familiarised themselves with the charity and ensure core values align, as well as understanding the expectations the charity has for the role of a trustee. We provide guidance from the Charity Commission (in England and Wales) to allow familiarisation with their legal responsibilities if undertaking the role of trustee.

All our trustees are appointed with a specific skill set and level of expertise in their given field, however at induction we would always offer training should this be beneficial for either the charity or the new recruit. Ultimately, effective induction and ongoing training ensure that trustees are well-informed, confident, and capable of providing robust governance and strategic direction to the charity, safeguarding its assets, and ensuring it operates in the best interests of its beneficiaries and the public.

Trustees are ultimately responsible for setting key management personnel remuneration and must act in the best interests of the charity avoiding any conflicts of interest. As with all roles within the organisation, the charity's HR department performs analysis to confirm market expectation of pay scales for any position held. This combined with budget availability will allow an appropriate level of remuneration to be determined.

The trustees' report was approved by the Board of Trustees.

Miss R L Carruthers Miss J M Mockford Trustee Trustee 30 June 2025

WECARE WORLDWIDE

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WECARE WORLDWIDE

I report to the Trustees on my examination of the financial statements of WEcare Worldwide (the charity) for the year ended 31 August 2024.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Stuart Farrer FCA

Saint & Co Chartered Accountants Sterling House Wavell Drive, Rosehill CARLISLE CA1 2SA 30 June 2025

WECARE WORLDWIDE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
736,990
239,650
Charitable activities
4
18,225
-
Investments
5
2,029
-
Total income
757,244
239,650
Expenditure on:
Raising funds
6
29,014
-
Charitable activities
7
457,226
158,925
Total expenditure
486,240
158,925
Net income/(expenditure) and
movement in funds
271,004
80,725
Reconciliation of funds:
Fund balances at 1 September
2023
310,052
108,011
Fund balances at 31 August 2024
581,056
188,736		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
£
£
£
976,640
262,129
58,321
320,450
18,225
14,376
-
14,376
2,029
593
-
593
996,894
277,098
58,321
335,419
29,014
16,473
-
16,473
616,151
417,881
48,728
466,609
645,165
434,354
48,728
483,082
351,729
(157,256)
9,593
(147,663)
418,063
467,308
98,418
565,726
769,792
310,052
108,011
418,063

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

WECARE WORLDWIDE

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2024

Notes
Fixed assets
Intangible assets
13
Tangible assets
14
Investments
15
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within one year
18
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
21
Unrestricted funds
22		 2024
£
159,362
93,602
352,632
605,596
(26,669)		 £
1,500
189,364
1
190,865
578,927
769,792
188,736
581,056
769,792		 2023
£
163,677
45,977
61,203
270,857
(34,953)		 £
3,000
179,158
1
182,159
235,904
418,063
108,011
310,052
418,063

The financial statements were approved by the Trustees on 30 June 2025

Miss R L Carruthers Miss J M Mockford Trustee Trustee

WECARE WORLDWIDE

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2024

Notes
Cash flows from operating activities
Cash generated from/(absorbed by) operations
26
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash generated from financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(38,720)
2,029		 £
328,120
(36,691)
-
291,429
61,203
352,632		 2023
£
£
(153,979)
(57,871)
593
(57,278)
-
(211,257)
272,460
61,203

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

Charity information

WEcare Worldwide is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Oak Lodge, Kirkbride, Wigton, Cumbria, CA7 5JH..

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs 25% straight line

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 15% reducing balance Plant and equipment 15% reducing balance Fixtures and fittings 3 years straight line Motor vehicles 10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
726,990
229,650
Grants
10,000
10,000
736,990
239,650		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
956,640
255,129
56,467
20,000
7,000
1,854
976,640
262,129
58,321		 Total
2023
£
311,596
8,854
320,450

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

4 Income from charitable activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Charitable activities
Sale of goods 2,167 3,191
Other income 16,058 11,185
18,225 14,376
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest 2,029 593
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Staging fundraising events 29,014 16,473

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

7 Expenditure on charitable activities

Support costs Support costs
2024 2023
£ £
Direct costs
Staff costs 134,891 130,525
Opening stock 163,674 95,904
Purchases 98,562 172,484
Closing stock (159,362) (163,677)
Other office costs 1,593 706
239,358 235,942
Share of support and governance costs (see note 8)
Support 376,793 230,667
616,151 466,609
Analysis by fund
Unrestricted funds 457,226 417,881
Restricted funds 158,925 48,728
616,151 466,609
Support costs allocated to activities
2024 2023
£ £
Staff costs 198,756 97,636
Depreciation 30,012 23,973
Premises 95,697 74,372
Travel 35,503 21,781
Advertising 9,902 6,926
Governance costs 6,923 5,979
376,793 230,667
Analysed between:
Support costs 376,793 230,667
376,793 230,667

8 Support costs allocated to activities

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

8
Support costs allocated to activities
Governance costs comprise:
Independent Examination fees
Legal and professional
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
Depreciation of owned tangible fixed assets
Amortisation of intangible assets		 (Continued)
2024
2023
£
£
3,066
1,865
3,857
4,114
6,923
5,979
2024
2023
£
£
3,066
1,865
28,512
22,473
1,500
1,500		 (Continued)
2024
2023
£
£
3,066
1,865
3,857
4,114
6,923
5,979
2024
2023
£
£
3,066
1,865
28,512
22,473
1,500
1,500
5,979
2023
£
1,865
22,473
1,500

10 Trustees

The board of trustees and head of the organisation agreed to employ trustee Miss R.L. Carruthers as Business Development Manager. The Charity Commission granted permission for Miss R.L. Carruthers to become and employee and remain on the board of trustees of the charity. Remuneration totalling £33,333 (2023: £39,999), pension contributions of £813 (2023: £1,012) and Employer's National Insurance of £3,345 (2023: £4,445) were paid during the year for this role. Miss R.L. Carruthers' work as a trustee continues to be provided on a voluntary basis.

One trustee claimed travel expenses of £111 (2023: £1,132 to one trustee)

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
43
2024
£
321,054
9,226
3,367
333,647		 2023
Number
17
2023
£
218,816
7,687
1,658
228,161

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

11 Employees

(Continued)

Social security costs include Sri Lankan Social Security £565 (2023: £3,358).

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

Key management personnel includes all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £84,462 (2023: £90,684).

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Intangible fixed assets

Development
costs
£
Cost
At 1 September 2023 and 31 August 2024 6,000
Amortisation and impairment
At 1 September 2023 3,000
Amortisation charged for the year 1,500
At 31 August 2024 4,500
Carrying amount
At 31 August 2024 1,500
At 31 August 2023 3,000

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

14 Tangible fixed assets

Leasehold
improvements
Assets under
construction
Plant and
equipment
Fixtures and
fittings
Motor vehicles
£
£
£
£
£
Cost
At 1 September 2023
41,878
54,054
167,557
3,556
-
Additions
-
-
16,088
-
22,632
Transfers
-
(54,054)
-
-
54,054
At 31 August 2024
41,878
-
183,645
3,556
76,686
Depreciation and impairment
At 1 September 2023
22,407
-
62,782
2,700
-
Depreciation charged in the
year
2,921
-
17,489
428
7,674
At 31 August 2024
25,328
-
80,271
3,128
7,674
Carrying amount
At 31 August 2024
16,550
-
103,374
428
69,012
At 31 August 2023
19,472
54,054
104,776
856
-		 Total
£
267,045
38,720
-
305,765
87,889
28,512
116,401
189,364
179,158

15 Fixed asset investments

Other
investments
£
Cost or valuation
At 1 September 2023 & 31 August 2024 1
Carrying amount
At 31 August 2024 1
At 31 August 2023 1
2024 2023
Other investments comprise: Notes £ £
Investments in subsidiaries 25 1 1

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

16
Stocks
Raw materials and consumables
17
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by connected undertakings
Other debtors
Prepayments and accrued income
18
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
19
Trade creditors
Other creditors
Accruals
19
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Sponsorship relating to the Great North run in advance of this event.
Deferred income is included within:
Current liabilities
Movements in the year:		 2024
£
159,362
2024
£
10,092
8,656
5,844
69,010
93,602
2024
£
-
4,536
20,211
22
1,900
26,669
2024
£
4,536
2024
£
4,536		 2023
£
163,677
2023
£
1,569
5,667
2,908
35,833
45,977
2023
£
1,493
-
31,160
471
1,829
34,953
2023
£
-
2023
£
-

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

19
Deferred income
Deferred income at 1 September 2023
Resources deferred in the year
Deferred income at 31 August 2024
20
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 (Continued)
-
-
4,536
-
4,536
-
2024
2023
£
£
3,367
1,658		 (Continued)
-
-
4,536
-
4,536
-
2024
2023
£
£
3,367
1,658
-
2023
£
1,658

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 September Incoming Resources Transfers At 31 August
2023 resources expended 2024
£ £ £ £ £
Restricted funds 10,454 227,885 (131,447) - 106,892
Restricted Fixed Assets 54,714 11,765 (9,635) 16,408 73,252
Battersea Grant 17,843 - (17,843) - -
Jean Sainsbury AWT Grant 25,000 - - (16,408) 8,592
108,011 239,650 (158,925) - 188,736
Previous year: At 1 September Incoming Resources Transfers At 31 August
2022 resources expended 2023
£ £ £ £ £
- - - - -
Restricted funds 205 19,300 (9,051) - 10,454
Restricted Fixed Assets 46,400 12,167 (3,853) - 54,714
Battersea Grant 51,813 1,854 (35,824) - 17,843
Jean Sainsbury AWT Grant - 25,000 - - 25,000
98,418 58,321 (48,728) - 108,011

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September Incoming Resources At 31 August
2023 resources expended 2024
£ £ £ £
General funds 310,052 757,244 (486,240) 581,056
Previous year: At 1 September Incoming Resources At 31 August
2022 resources expended 2023
£ £ £ £
General funds 467,308 277,098 (434,354) 310,052

23 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 August 2024:
Intangible fixed assets
1,500
-
Tangible assets
116,112
73,252
Investments
1
-
Current assets/(liabilities)
463,443
115,484
581,056
188,736		 Total
2024
£
1,500
189,364
1
578,927
769,792

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 August 2023:
Intangible fixed assets 3,000 - 3,000
Tangible assets 124,443 54,715 179,158
Investments 1 - 1
Current assets/(liabilities) 182,608 53,296 235,904
310,052 108,011 418,063

23 Analysis of net assets between funds

24 Related party transactions

Please see note on Trustees, remuneration and expenses regarding the transactions with Miss R.L. Carruthers.

The total aggregate donations received from trustees or related parties in the year was £355 (2023: £269)

During the year the charity covered private costs for Head of Organisation, Janey Lowes, totalling £nil (2022: £nil). At the balance sheet date Janey Lowes owed the Charity (2023: £103).

During the year the charity paid Rebecca Carruthers Accountancy Limited, of which Rebecca Carruthers is sole director £1,138 (2023: £1,132) for provision of accountancy software.

During the year WECare Veterinary Holdings (Private) Limited took out a 2 year lease on a property for the use of the charity WECare Worldwide, the total lease expense in the year was £1,945. Janey Lowes, Head of Charity, is sole director of WECare Veterinary Holdings (Private) Limited.

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

25 Subsidiaries

These financial statements are separate charity financial statements for WECare Worldwide.

The charity has one trading subsidiary; WECare Pet Food Limited (Company Registration Number14476046), incorporated on 10th November 2022. The company is a private company limited by shares, wholly owned and controlled by WECare Worldwide Limited. The company is not included in consolidated accounts due to the group being a small group. WECare Pet Food Limited has prepared a short period of accounts to 31 August 2024, the previous set being to 30th November 2023.

Details of the charity's subsidiaries at 31 August 2024 are as follows:

Name of undertaking Registered Nature of business Class of % Held % Held
office shares held Direct Indirect
WECare Pet Food Limited Oak Lodge, Pet Food retailer Ordinary 100.00
Kirkbride, Wigton,
Cumbria, United
Kingdom, CA7 5JH

The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:

Name of undertaking Profit/(Loss) Capital and
Reserves
£ £
Aug-2024
Gross Turnover £2.624
Gross Expenditure £-5,887
Profit/Loss for the year £-3,263
Gross assets as at 31st August £2,631
Gross liabilities as at 31st August £-10,515
Funds £-7,884

WECARE WORLDWIDE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

26
Cash generated from/(absorbed by) operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Amortisation and impairment of intangible assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Increase in deferred income
Cash generated from/(absorbed by) operations		 2024
2023
£
£
351,729
(147,663)
(2,029)
(593)
1,500
1,500
28,512
22,473
4,315
(67,775)
(47,625)
11,850
(12,820)
26,232
4,536
-
328,118
(153,976)

27 Analysis of changes in net funds

The charity had no material debt during the year.