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← Oak Tree Animals' Charity

2024-12-31-accounts

Registered number: 10404912 Charity numbers: 1169511 & SC048389

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 11
Independent auditors' report on the financial statements 12 - 15
Consolidated statement of financial activities 16
Consolidated balance sheet 17
Charity balance sheet 18 - 19
Consolidated statement of cash flows 20
Notes to the financial statements 21 - 51

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Mr M B Squires Ms L Taylor (resigned 13 September 2024) Mr S Wells (resigned 22 May 2025) Mrs R L Griffiths (appointed 11 March 2025) Mr R Winder (appointed 22 May 2025) Ms J M Hansel (resigned 11 March 2025) Mrs R Armstrong (appointed 29 February 2024) Mrs G S Lowry (appointed 29 February 2024)

Company registered number 10404912 Charity registered numbers 1169511 and SC048389 Registered office Oak Tree Farm Wetheral Carlisle Cumbria CA48JA

Chief Executive Officer Mr M Notter Independent auditors Armstrong Watson Audit Limited Chartered Accountants & Statutory Auditors James Watson House Montgomery Way Rosehill Carlisle Cumbria CA1 2UU

Page 1

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the audited financial statements of the Charity for the yearperiod 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Welcome to the Annual Report and Financial Statements of Oak Tree Animals' Charity.

Our Vision

Our vision is a world where understanding and empathy ensure that all animals are treated with kindness and respect.

Our Mission

Our mission is to help companion animals in need; finding them a safe and comfortable home and helping the community understand their needs, through support and education.

Our Values

Our values are integral to our everyday work. They reflect what we stand for and how we evaluate ourselves.

Page 2

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities

a. Objectives and aims

Working for our community; caring for animals; making a difference. Oak Tree has been helping animals for 116 years. We are passionate about animal welfare and believe that every animal matters; helping thousands of animals every year. In 2024 we were able to assist 4,801 animals and their owners.

Our mission is to help companion animals in need; finding them a safe and comfortable home and helping the community to understand their needs through support and education. 2024 continued to provide challenges for pet owners with the social, political and economic climate remaining uncertain. Following the pandemic boom in new dogs, the most recent survey by Dogs Trust shows that the number of puppy owners and dogs aged under one year old has decreased significantly post-covid. This reduction could also be linked to the increase in cost of living and associated financial struggles. In 2024, 31% of people were looking at how they could switch to cheaper dog food; over 30% looking at reducing items like dog day care, dog walkers and grooming fees. (Dogs Trust, National Survey Results 2024).

Financial concern continues to be a worry for pet owners, with the rises in veterinary fees and utility price increases having significant impact. There continues to be a real risk of increased relinquishment and a reduced number of households looking to adopt. At Oak Tree we find dogs, cats and horses loving new homes, giving them respite and restoring their confidence to give them the best chance of a better future.

We aim to help with practical solutions for pet owners, enabling them to keep their pets whenever possible. We work alongside our partners at foodbanks, social services, housing associations, and other local organisations to support vulnerable owners and their pets who urgently need our help.

Our ‘A Helping Paw’ programme provides vital short-term fostering for those who are homeless or fleeing domestic violence, helping them to get vital support whilst knowing their pet is safe and well cared-for. We offer welfare advice and support to those in our community in a variety of ways including training classes, online resources and individual advice. Oak Tree also works with children and young people, helping understand the needs and behaviours of companion animals, using education to help them be the confident and knowledgeable owners in the future.

b. Strategies for achieving objectives and aims

In early 2024 we launched a three-year strategy to redefine how we worked to help us navigate these challenges. The strategy has four key pillars.

1 Animal Welfare: Community and Rehoming

Page 3

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

Animal Welfare: Community and Rehoming

Animal welfare is at the core of everything we do at Oak Tree and it supports all the decisions we take. We work within evidence-based welfare guidelines and work flexibly to give the right support to the animals and owners in our community.

Human Behaviour

We strive to provide non-judgemental and practical support to the pet owners in our area. By using a consistent, evidence based and understanding approach, we will increase the knowledge and understanding necessary to foster the best relationships between animals and their owners.

Collaboration

Collaboration is an essential part of the way Oak Tree works. Working in partnerships with other organisations ensures we can provide the right support at the right time for those in our community. These partnerships raise our awareness of the wider environment, understand our local community better and ensure that we make every supporter’s donation have maximum impact on animal welfare.

Sustainability

The financial environment around us continues to change and we need to work harder and smarter to make sure we continue to be here for the animals and owners in our region. We will continue to review, assess and build our income generation plans. Whilst managing our costs and minimising our impact on our environment wherever possible.

d. Volunteers

Our volunteers are a crucial part of the Oak Tree Team. They help us care for more animals every year, giving us their time and experience with generosity. Their dedication enables us to reach out into our community to support animals and the people who care for them. The contribution of our volunteers is vital, and we would like to thank them for their enthusiasm and support, helping us to improve the lives of animals in our region.

e. Public Benefit

The Board of Trustees has considered the guidance produced by the Charity Commission on the provision of public benefit and confirms that public benefit is provided by the Charity's activities. Operating at Oak Tree Farm, we provide safe shelter for animals while a new home is sought for them. The Charity provides advice and support to pet owners and gives peace of mind when an animal is taken into care because the owner is no longer able to keep it. The Charity provides an education service on animal welfare issues to our community including to individuals, schools, nurseries, further education establishments, businesses and community groups.

The Charity Board reviews its services annually and considers the Charity Commission’s guidance on public benefit when planning and assessing the impact of its services.

Page 4

OAK TREE ANIMALS' CHARITY (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance

a. Review of activities

In 2024, with your support, we were able to help 4,801 animals who needed our assistance through our animal welfare programmes. This includes 2,619 dogs, 2,123 cats, 59 horses and other animals.

With your support, in 2024 we were able to:

Our staff and volunteer teams work conscientiously to provide individual and appropriate support for animals and their owners. We continue to build our relationships with other Charities and organisations enabling us to continue to support animals and owners in need of help. This collaboration is vital in helping us to signpost to services appropriately, avoid duplication of service, and adapt and develop our programmes effectively in response to need.

Unwanted dog behaviour continues to be a key primary reason for relinquishment (40% of dog intake in 2024).

Education is key to ensure that we continue to improve animal welfare with young people, our wider community and local professionals. In 2024 our Education Team worked with 729 adults and 1,578 children, providing a range of learning opportunities and activities to promote animal welfare. In addition, our online learning resources were downloaded over 10,000 times.

For the third year we were invited to work collaboratively with eight other welfare charities across the UK to have an educational and welfare presence at the Appleby Horse Fair. Our team spoke with travellers about horse care, answering questions and giving support as needed.

We were delighted to welcome so many visitors to Oak Tree Farm and our shops in 2024. In 2024 we saw our Charity Shop network grow throughout Cumbria and Northumberland. These shops not only generate vital income for our work but also touch points to our services for those in our local communities. Our shops have developed networks within their areas, providing opportunities for partnership working with local foodbanks, support services and directly to pet owners in need.

Page 5

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

a. Review of the year

We continue to diversify our income streams with the development of our Trading Subsidiary, and we are extremely grateful for the generous legacies left for Oak Tree.

The key financial facts for year ended 31st December 2024 are; Income: £2,601,277, Expenditure: £3,049,340 (with the difference between income and expenditure being a deficit of £448,063). Total unrestricted reserves at the end of 2024 were £2,341,791, with £344,393 being accessible reserves, and the remainder being tangible fixed assets, primarily our land and buildings. By comparison, the accounts of year ending 31st December 2023 showed income of £2,395,366, and expenditure of £2,437,769 producing a deficit for the period of £42,403.

We would like to thank all those supporters and funders who so generously supported our work this year:

Alice Noakes Memorial Charitable Trust, Animal Friends Insurance, Armstrong Watson, ADCH with Mars Petcare, Box Power CIC; Burns Pet Nutrition, Caledonia Park, Carlisle Refrigeration, Cartmell Shepherd, Cooperative Local Community Fund, Cumberland Council, Groundwork Tesco Community Grants, Health4Horses, HSBC, Kierweb, Marjorie Coote Animal Charity Trust, Mrs DM France-Hayhurst Charitable Trust, PetPlan Charitable Trust, Postcode Neighbourhood Trust, The Arthur Camp Foundation Trust, The Astor Foundation, The Audrey Emma Lamb Trust, The Barry Green Memorial Fund, The Catherine Cookson Charitable Trust, The Charity of Stella Symons, The David Family Foundation, The Elise Pilkington Charitable Trust, The Emerson Foundation, The Michael and Shirley Hunt Charitable Trust, The Prowting Charitable Foundation, The Rose Animal Welfare Trust, The Tula Trust, The Walker Trust, The Turnpike Charitable Trust.

Page 6

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

b. Going concern

In preparing the financial statements, the Trustees have given careful consideration to the current and anticipated funding requirements of the Trust and its ability to continue as a going concern for at least 12 months from the date of signing of the financial statements.

As part of the review the Trustees have considered the following:

The Charity will build on its programme of reducing expenditure by streamlining departments and services. The savings planned for 2025 will total £200,000.

As part of a long-term programme of increasing fundraising to rely less on the unpredictably of Legacy receipts new streams of fundraising will be pursued. These include, but are not limited to, maximising our Lottery engagement and Sponsorship products and maximising the collection of Gift Aid.

The Charity has been benefited from a total of £89,037 unrestricted income in 2024 from the profits of the Charity Shops run on the Charity’s behalf by its wholly owned Trading Company OTAC Ltd. 4 shops were opened in the 2024/25 year and 5 more are planned for 2025/26 accounting period. With a proven track record of profitable shops over 6/7 years the Charity anticipates that income from the profits of the shops for the 2026 period will be £300,000.

Given the Charity’s success in consistently increasing retail income, the increases seen in fundraising projects, and latterly the reduction in costs, the Charity Trustees are satisfied that the additional funding obtained for the forthcoming period, the expected funding to be received from an increase to trading levels in 2025/26 and beyond provides sufficient financial headroom to meet the Charity’s liabilities as they fall due for at least 12 months from the date of signing the financial statements and have continued to prepare the financial statements on a going concern basis.

The cashflow projections considered by the Trustees show that with the above expectations regarding increased fundraising, further streamlining of services and trading performance materialising, that the Charity has sufficient financial headroom for the immediate 12 months from the date of signing of the financial statements. However, the Trustees are aware that this is reliant on the timing and number of shops opening and the growth rate of fundraising initiatives. Without the expected or alternative sources of funding the Charity expects to encounter manageable budget shortfalls within the immediate 12 months. However, by January 2026 there is a significant shortfall projected in cash reserves primarily driven by a lack of secured medium to long term funding for the forthcoming periods. The Trustees are confident that sufficient funding can be obtained from the cost saving measures which the Charity is able to deploy combined with careful monitoring of expenditure which can seek to mitigate the impact of any immediate projected shortfalls.

The Trustees recognise that these circumstances in respect of the uncertainty around additional funding and trading expectations represent a material uncertainty which may cast significant doubt upon the Charity’s ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of operations. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

Page 7

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

c. Reserves policy

Each year the Board of Trustees reviews the reserves of the charity in line with the Charity’s investment policy, looking at income and expenditure and the overall value of reserves.

At the balance sheet date, unrestricted reserves excluding tangible fixed assets amounted to £344,393.

d. Investments policy

Under the constitution and rules of the Charity, the Board of Trustees has the power to make any investments as deemed fit, mindful that any such investment should be of an ethical nature and true to the objectives of the Charity. The investment policy sets out the requirement for reserves to be invested conservatively and in line with the Charity Commission guidelines with a diversified portfolio to minimise risk. An ethical policy has been adopted to avoid investments that conflict with the aims of the Charity. This policy precludes direct investment in companies involved in vivisection or drug testing on animals.

Page 8

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management

a. Constitution

Oak Tree Animals' Charity is registered as a charitable company limited by guarantee and was set up by a Trust deed.

b. Methods of appointment or election of Trustees

The management of the Group and the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Day to day management is delegated to the Chief Executive Officer, Mr M Notter.

c. Policies adopted for the induction and training of Trustees

All new trustees undergo a period of induction and training, supported by the Trustee Board and the Senior Management Team. It is vital our trustees have up-to-date relevant knowledge relating to governance and our sector, and hence this commitment to training continues throughout their period of trusteeship.

d. Pay policy for key management personnel

The Board of Trustees sets the remuneration of the management team in line with fair market rates, taking into consideration the specific requirements of the role. The performance and level of remuneration is reviewed annually.

e. Related party relationships

The Charity has a wholly owned subsidiary trading company, OTAC Trading Limited, to promote retail and events from Oak Tree Farm and other Charity properties. All profits from the trading company are donated to the Charity.

f. Financial risk management

The Trustees have assessed the major risks to which the Group and the Charity are exposed, in particular those related to the operations and finances of the Group and the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

g. Decision making

The Board of Trustees meets throughout the year to make decisions regarding the direction and governance of the Charity in accordance with the governing document. No business is transacted at any general meeting unless a quorum of three members is present, with decisions taken through a vote indicated by a show of hands, with each member entitled to one vote. In the event of deadlock, the Chair of the Board may cast an additional deciding vote. A resolution may also be made in writing by simple majority of the members who would have been entitled to vote on it were it held at a general meeting.

Page 9

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Plans for future periods

There are some significant challenges ahead in 2025. Pet owners across the UK are struggling with the increased cost of living and their pet and veterinary costs. Shelters across the UK continue to see an increase in the number of behaviour issues in dogs. Additionally, the space in shelters for intake continues to be seriously stretched. Our own costs have continued to rise, particularly in utilities and veterinary bills, and our generous donors are also facing their own financial challenges.

We are committed to the animals and those who care for them across our region. With our proactive approach and long-term vision, we believe we can meet these challenges and ensure animals and their owners received the support they need, now and in the future.

2025 will see our Charity continue to develop:

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 10

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Armstrong Watson Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ Mrs R L Griffiths Chair of Trustees Date: 19/12/2025

Page 11

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OAK TREE ANIMALS' CHARITY

Opinion

We have audited the financial statements of Oak Tree Animals' Charity (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to note 2.2 in the financial statements, which indicates that the charity has a significant shortfall projected in cash reserves for the forthcoming periods. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 12

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OAK TREE ANIMALS' CHARITY (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006, the Charities Act 2011, the Charities (Reports and Accounts) Regulations 2008, the Charities and Trustees Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 13

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OAK TREE ANIMALS' CHARITY (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Page 14

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OAK TREE ANIMALS' CHARITY (CONTINUED)

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Auditing standards also limit the procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with the Charities (Reports and Accounts) Regulations 2008 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Karen Rae (Dec 19, 2025 10:26:46 GMT)

Karen Rae FCCA (Senior statutory auditor)

For on and behalf of Armstrong Watson Audit Limited Chartered Accountants & Statutory Auditors Carlisle

Date: 19/12/2025

Armstrong Watson Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 15

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income from:
Donations and legacies
4
Other trading activities
5
Investments
6
Other income
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net expenditure before net gains on
investments
Net gains on investments
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Gains on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
754,519
1,722,904
13,526
66,951
2,557,900
835,692
2,104,649
2,940,341
(382,441)
29,727
(352,714)
12,119
(340,595)
2,682,385
(340,595)
2,341,790		 Restricted
funds
2024
£
43,377
-
-
-
43,377
-
108,999
108,999
(65,622)
-
(65,622)
-
(65,622)
90,688
(65,622)
25,066		 Total
funds
2024
£
797,896
1,722,904
13,526
66,951
2,601,277
835,692
2,213,648
3,049,340
(448,063)
29,727
(418,336)
12,119
(406,217)
2,773,073
(406,217)
2,366,856		 Total
funds
2023
£
1,007,695
1,379,802
7,869
-
2,395,366
631,608
1,806,161
2,437,769
(42,403)
12,744
(29,659)
75,000
45,341
2,727,732
45,341
2,773,073

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 21 to 51 form part of these financial statements.

Page 16

OAK TREE ANIMALS' CHARITY (A company limited by guarantee) REGISTERED NUMBER: 10404912

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024

2024 2024 2023 2023
Note £ £
Fixed assets
Tangible assets 13 1,583,445 1,538,405
Investments 15 317,285 287,558
Investment property 14 96,667 133,333
1,997,397 1,959,296
Current assets
Stocks 16 32,366 13,785
Debtors 17 328,527 360,034
Cash at bank and in hand 276,942 679,788
637,835 1,053,607
Current liabilities
Creditors: amounts falling due within one
year 18 (239,041) (223,240)
Net current assets 398,794 830,367
Total assets less current liabilities 2,396,191 2,789,663
Creditors: amounts falling due after more
than one year 19 (6,335) (16,590)
Provisions for liabilities (23,000) -
Total net assets 2,366,856 2,773,073
Charity funds
Restricted funds 21 25,066 90,688
Unrestricted funds 21 2,341,790 2,682,385
Total funds 2,366,856 2,773,073

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Mrs R L Griffiths Chair of Trustees Date: 19/12/2025

The notes on pages 21 to 51 form part of these financial statements.

Page 17

OAK TREE ANIMALS' CHARITY (A company limited by guarantee) REGISTERED NUMBER: 10404912

CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed assets
Tangible assets
13
Investments
15
Investment property
14
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
18
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
19
Provisions for liabilities
Net assets excluding pension asset
Total net assets		 -
452,682
112,936
565,618
(170,577)		 2024
£
1,560,561
317,285
96,667
1,974,513
395,041
2,369,554
(6,335)
(23,000)
2,340,219
2,340,219		 273
380,500
592,278
973,051
(142,048)		 2023
£
1,508,957
287,559
133,333
1,929,849
831,003
2,760,852
(16,590)
-
2,744,262
2,744,262

Page 18

OAK TREE ANIMALS' CHARITY (A company limited by guarantee) REGISTERED NUMBER: 10404912

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024

2024 2023
Note £ £
Charity funds
Restricted funds 21 90,688 90,688
Unrestricted funds 21 2,249,531 2,653,574
Total funds 2,340,219 2,744,262

The Charity's net movement in funds for the year was £ (404,043) (2023 - £35,272) .

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Mrs R L Griffiths Chair of Trustees Date: 19/12/2025

The notes on pages 21 to 51 form part of these financial statements.

Page 19

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Cash flows from operating activities
Net cash used in operating activities (note 24)
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Proceeds from sale of investments
Interest received
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Interest paid
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 21 to 51 form part of these financial statements		 2024
£
(314,351)
6,716
(91,366)
100
6,810
(77,740)
(10,000)
(755)
(10,755)
(402,846)
679,788
276,942		 2023
£
685,897
6,336
(89,137)
36,262
1,533
(45,006)
(10,000)
(648)
(10,648)
630,243
49,545
679,788

Page 20

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. General information

Oak Tree Animals' Charity is a a company limited by guarantee registered in England and Wales and also a Charity registered with both the Charity Commission and the Office of the Scottish Charity Regulator. The principal activity of the Charity is the care and rehoming of animals in need as well as community education and engagement on animal welfare.

These accounts are presented in pounds sterling and are rounded to the nearest pound unless stated otherwise.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Oak Tree Animals' Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

Page 21

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.2 Going concern

In preparing the financial statements, the Trustees have given careful consideration to the current and anticipated funding requirements of the Trust and its ability to continue as a going concern for at least 12 months from the date of signing of the financial statements.

As part of the review the Trustees have considered the following:

The Charity will build on its programme of reducing expenditure by streamlining departments and services. The savings planned for 2025 will total £200,000.

As part of a long-term programme of increasing fundraising to rely less on the unpredictably of Legacy receipts new streams of fundraising will be pursued. These include, but are not limited to, maximising our Lottery engagement and Sponsorship products and maximising the collection of Gift Aid.

The Charity has been benefited from a total of £89,037 unrestricted income in 2024 from the profits of the Charity Shops; run on the Charity’s behalf by its wholly owned Trading Company OTAC Limited. Four shops were opened in the 2024/25 year and five more are planned for 2025/26 accounting period. With a proven track record of profitable shops over 6/7 years the Charity anticipates that income from the profits of the shops for the 2026 period will be £300,000.

Given the Charity’s success in consistently increasing retail income, the increases seen in fundraising projects and latterly the reduction in costs, the Charity Trustees are satisfied that the additional funding obtained for the forthcoming period, the expected funding to be received from an increase to trading levels in 2025/26 and beyond provides sufficient financial headroom to meet the Charity’s liabilities as they fall due for at least 12 months from the date of signing the financial statements and have continued to prepare the financial statements on a going concern basis.

The cashflow projections considered by the Trustees show that with the above expectations regarding increased fundraising, further streamlining of services and trading performance materialising, that the Charity has sufficient financial headroom for the immediate 12 months from the date of signing of the financial statements. However, the Trustees are aware that this is reliant on the timing and number of shops opening and the growth rate of fundraising initiatives. Without the expected or alternative sources of funding the Charity expects to encounter manageable budget shortfalls within the immediate 12 months. However, by January 2026 there is a significant shortfall projected in cash reserves primarily driven by a lack of secured medium to long term funding for the forthcoming periods. The Trustees are confident that sufficient funding can be obtained from the cost saving measures which the Charity is able to deploy combined with careful monitoring of expenditure which can seek to mitigate the impact of any immediate projected shortfalls.

The Trustees recognise that these circumstances in respect of the uncertainty around additional funding and trading expectations represent a material uncertainty which may cast significant doubt upon the Charity’s ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of operations. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

Page 22

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Page 23

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.3 Income (continued)

Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donated goods, professional services and facilities are recognised as income when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

As it is impractical to measure the fair value of goods donated for resale, the donated goods are recognised when they are sold.

2.4 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 allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Wages and salaries have been apportioned in line with the activities undertaken by the employee.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Volunteers

The value of the services provided by volunteers is not incorporated into these financial statements.

Further details of their contribution is provided in note 7 to these financial statements and in the Trustees’ report.

Page 24

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.7 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the revaluation model, tangible fixed assets whose fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The charity has adopted the revaluation model to revalue items of freehold property whose fair value can be measured reliably. The revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

The fair value of land and buildings is usually determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the Statement of Financial Activities and added to reserves in a separate Revaluation reserve.

Investment property rented to other group entities and accounted for under the cost model is stated at historic cost less accumulated depreciation and any accumulated impairment losses.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Freehold property - 2% reducing balance
Plant and machinery - 15% reducing balance/20% straight line
Motor vehicles - 25% reducing balance
Fixtures and fittings - 15% reducing balance/25% straight line
Computer equipment - 33% reducing balance

Depreciation is charged on a monthly basis from the calendar month following acquisition or on the bringing into use of the asset, whichever is the latter. A full month is charged in the month of disposal.

Page 25

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.9 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

The investment portfolio held as fixed asset investments are measured at market value.

Fixed assets and investments are subject to review for impairment when there is an indication of a reduction in their carrying value.

Any impairment is recognised in the year in which it occurs int he corresponding category in the Statement of Financial Activities.

2.10 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.13 Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.14 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 26

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.15 Operating leases

The Group as lessee

Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight-line basis over the lease term.

The Group as lessor

Rental income from operating leases is credited to the Consolidated statement of financial activities on a straight-line basis over the lease term.

2.16 Pensions

The Group operates a defined contribution pension scheme and the assets of this scheme are held separate to those of the Group in an independently administered fund. The pension charge represents the amounts payable by the Group to the fund in respect of the year.

2.17 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 27

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgment:

Depreciation and impairment of fixed assets

Depreciation rates are calculated based on the estimated useful life of each class of asset held. Assets are reviewed annually for any signs of impairment and if such impairment exists, judgement is exercised to determine if the asset is correctly valued.

The carrying amount of fixed assets is included within the tangible fixed assets note.

Valuation of investment property

The investment property is valued by a professional valuer periodically. In the interim periods the Trustees exercise their judgement to assess whether the valuation remains accurate before making any adjustments as deemed necessary.

Contingent assets in relation to legacy income not yet received

Legacy income is inherrently complex and takes a significant amount of time from the point of notification to the point funds are received by the Charity. The Trustees exercise judgement based on their past experience with legacy receipts to determine when it is likely the income will be received and how much will be received.

Page 28

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4. Income from donations and legacies

Unrestricted
funds
2024
£
Grants
Grants for general purposes
46,018
Grants for Animal projects
-
Grants for Community & Educational projects
-
46,018
Donations
183,804
Legacies
524,697
Subtotal
708,501
754,519		 Restricted
funds
2024
£
-
15,000
28,377
43,377
-
-
-
43,377		 Total
funds
2024
£
46,018
15,000
28,377
89,395
183,804
524,697
708,501
797,896

Page 29

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4. Income from donations and legacies (continued)

Grants
Grants for general purposes
Grants for Equine projects
Grants for Animal projects
Grants for Community & Educational projects
Donations
Legacies
Subtotal		 Unrestricted
funds
2023
£
36,622
-
-
-
36,622
261,736
676,043
937,779
974,401		 Restricted
funds
2023
£
15,298
-
6,750
11,246
33,294
-
-
-
33,294		 Total
funds
2023
£
51,920
-
6,750
11,246
69,916
261,736
676,043
937,779
1,007,695

Page 30

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2024
£
Fundraising events, sponsorship and lottery income
13,045
Unrestricted
funds
2023
£
Fundraising events, sponsorship and lottery income
6,870
Income from non charitable trading activities
Unrestricted
funds
2024
£
Trading income in OTAC Trading Ltd
1,709,859		 Total
funds
2024
£
13,045
Total
funds
2023
£
6,870
Total
funds
2024
£
1,709,859

Trading income in 2023 in OTAC Trading Ltd amounted to £1,372,932 of unrestricted funds.

Page 31

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. Investment income

Unrestricted
funds
2024
£
Investment income - dividends
6,716
Investment income - bank interest
6,810
13,526
Unrestricted
funds
2023
£
Investment income - dividends
6,336
Investment income - bank interest
1,533
7,869		 Total
funds
2024
£
6,716
6,810
13,526
Total
funds
2023
£
6,336
1,533
7,869

Page 32

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2024
£
Event expenses
18,995
Unrestricted
funds
2023
£
Event expenses
25,066		 Total
funds
2024
£
18,995
Total
funds
2023
£
25,066

Volunteers play a full part in the life of Oak Tree, supporting animal care, administration, governance and facilities functions; manning events, organising collections and undertaking a wide variety of fundraising activities.

In 2024 our volunteers gave over 63,000 hours of time equating to over £700,000 of support based on minimum wage (2023 – over 52,000 hours equating to over £541,840 of support).

Fundraising trading expenses

Unrestricted
funds
2024
£
Direct costs in OTAC Trading Ltd
424,040
Administration expenses in OTAC Trading Ltd
383,363
Depreciation in OTAC Trading Ltd
9,294
816,697		 Total
funds
2024
£
424,040
383,363
9,294
816,697

Page 33

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Expenditure on raising funds (continued)

Fundraising trading expenses (continued)

Direct costs in OTAC Trading Ltd
Administration expenses in OTAC Trading Ltd
Depreciation in OTAC Trading Ltd		 Unrestricted
funds
2023
£
308,375
284,036
14,131
606,542		 Total
funds
2023
£
308,375
284,036
14,131
606,542

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2024
£
Charitable activities
2,104,649
Unrestricted
funds
2023
£
Charitable activities
1,592,104		 Restricted
funds
2024
£
108,999
Restricted
funds
2023
£
214,057		 Total
2024
£
2,213,648
Total
2023
£
1,806,161

Page 34

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Analysis of expenditure by activities

Charitable activities
Charitable activities
Analysis of support costs
Depreciation
Loss on disposal of fixed assets
Office costs
Volunteer costs
Computer costs
Bank charges
Audit and accountancy fees
Provision
Rates and premises costs
Payroll bureau charges
Equipment hire
Bank loan interest
Sundry expenses
Bad debts recovered and cash under/over's
Staff training
Legal and professional fees
Repairs and maintenance		 Activities
undertaken
directly
2024
£
1,793,545
Activities
undertaken
directly
2023
£
1,421,600		 Support
costs
2024
£
420,103
Support
costs
2023
£
384,561
Activities
2024
£
46,711
1,529
14,375
9,958
20,349
5,271
24,930
23,000
105,536
3,264
13,623
755
7,475
3,485
4,522
77,772
57,548
420,103		 Total
funds
2024
£
2,213,648
Total
funds
2023
£
1,806,161
Total
funds
2024
£
46,711
1,529
14,375
9,958
20,349
5,271
24,930
23,000
105,536
3,264
13,623
755
7,475
3,485
4,522
77,772
57,548
420,103

Page 35

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Staff costs
Depreciation
Office costs
Volunteer costs
Computer costs
Bank charges
Audit and accountancy fees
Rates and premises costs
Payroll bureau charges
Equipment hire
Bank loan interest
Sundry expenses
Bad debts recovered and cash under/over's
Staff training
Legal and professional fees
Repairs and maintenance
10.
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above		 Activities
2023
£
34,537
63,923
14,257
11,499
18,727
8,141
21,414
99,805
1,765
9,154
648
12,188
1,566
2,212
41,894
42,831
384,561
2024
£
16,100
4,900		 Total
funds
2023
£
34,537
63,923
14,257
11,499
18,727
8,141
21,414
99,805
1,765
9,154
648
12,188
1,566
2,212
41,894
42,831
384,561
2023
£
14,780
3,520

Page 36

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. Staff costs

Group
Group
2024
2023
£
£
Wages and salaries
1,485,128
1,201,564
Social security costs
101,068
78,844
Contribution to defined contribution pension
schemes
22,269
18,870
1,608,465
1,299,278
The average number of persons employed by the Charity during the year was
Group
Group
2024
2023
No.
No.
Facilities and office
14
11
Veterinary and animal welfare
17
14
Community
7
4
Shop and tea room
40
34
Fundraising
5
5
83
68		 Charity
2024
£
1,485,128
101,068
22,269
1,608,465
as follows:
Charity
2024
No.
14
17
7
40
5
83		 Charity
2023
£
1,201,564
78,844
18,870
1,299,278
Charity
2023
No.
11
14
4
34
5
68

No employee received remuneration amounting to more than £60,000 in either year.

Wages paid to 5 key management personnel totalled £138,262 (2023 - 5 employees, £167,003).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 December 2024, expenses totalling £ NIL were reimbursed or paid directly to Trustees (2023 - £NIL ).

Page 37

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Tangible fixed assets

Group

Cost or valuation
At 1 January 2024
Additions
Disposals
Transfers between classes
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
On disposals
Transfers between classes
Impairment charge
At 31 December 2024		 Freehold
property
£
1,476,807
20,368
-
48,785
1,545,960
80,486
19,843
-
-
-
100,329		 Plant and
machinery
£
52,358
1,586
(267)
-
53,677
28,748
4,400
(267)
-
-
32,881		 Motor
vehicles
£
101,894
54,949
(6,130)
-
150,713
62,278
18,519
(4,501)
-
27,136
103,432		 Fixtures and
fittings
£
169,929
8,708
-
(31,900)
146,737
105,221
11,511
-
(25,729)
2,694
93,697		 Computer
equipment
£
28,988
5,755
(595)
31,900
66,048
14,838
9,326
(542)
25,729
-
49,351		 Total
£
1,829,976
91,366
(6,992)
48,785
1,963,135
291,571
63,599
(5,310)
-
29,830
379,690

Page 38

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Tangible fixed assets (continued)

Group (continued)

Net book value

At 31 December 2024 At 31 December 2023

Freehold
property
£
1,445,631
1,396,321		 Plant and
machinery
£
20,796
23,610		 Motor
vehicles
£
47,281
39,616		 Fixtures and
fittings
£
53,040
64,708		 Computer
equipment
£
16,697
14,150		 Total
£
1,583,445
1,538,405

Page 39

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Tangible fixed assets (continued)

Charity

Cost or valuation
At 1 January 2024
Additions
Disposals
Transfers between classes
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
On disposals
Transfers between classes
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
property
£
1,476,807
20,368
-
48,785
1,545,960
80,486
19,843
-
-
100,329
1,445,631
1,396,321		 Plant and
machinery
£
39,337
1,586
-
-
40,923
19,936
3,049
-
-
22,985
17,938
19,401		 Motor
vehicles
£
92,394
22,000
(6,130)
-
108,264
59,903
10,924
(4,501)
-
66,326
41,938
32,491		 Fixtures and
fittings
£
160,629
2,075
-
(31,900)
130,804
99,885
8,393
-
(25,729)
82,549
48,255
60,744		 Computer
equipment
£
-
5,130
-
31,900
37,030
-
4,502
-
25,729
30,231
6,799
-		 Total
£
1,769,167
51,159
(6,130)
48,785
1,862,981
260,210
46,711
(4,501)
-
302,420
1,560,561
1,508,957

Page 40

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Tangible fixed assets (continued)

Charity (continued)

Freehold property was revalued in November 2019 by William Bashall Associates to a market value of £1.415m. This included land of £545,000 which is not depreciated as well as investment property of £397,118 which has been reclassified. Additions since the valuation amount to £80,508.

During the year a property changed use and was transferred out of investment property and into freehold property at its market value as agreed by the Trustees.

Page 41

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14.
Investment property
Group
Valuation
At 1 January 2024
Surplus on revaluation
Transfers between classes
At 31 December 2024
Charity
Valuation
At 1 January 2024
Surplus on revaluation
Transfers between classes
At 31 December 2024		 Freehold
investment
property
£
133,333
12,119
(48,785)
96,667
Freehold
investment
property
£
133,333
12,119
(48,785)
96,667

Freehold property is included at valuation of £73,333 plus land at estimated market value of £60,000. In the year, a property changed use and was transferred out of investment property and into freehold property at its market value as agreed by the Trustees.

The valuation was made by William Bashall Associates in November 2019 on an open market value for existing use basis and updated in the year by the Trustees based on market information. It is the opinion of the Trustees that this valuation has not materially altered at the period end date.

Page 42

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. Fixed asset investments
Other fixed
asset
investments
Group £
Cost or valuation
At 1 January 2024 287,558
Revaluations 29,727
At 31 December 2024 317,285
Net book value
At 31 December 2024 317,285
At 31 December 2023 287,558
Other fixed asset investments includes £3,805 (2023 - £4,971) of cash balances in the investment
portfolio.
Other fixed
asset
investments
Charity £
Cost or valuation
At 1 January 2024 287,558
Revaluations 29,727
At 31 December 2024 317,285
Net book value
At 31 December 2024 317,285
At 31 December 2023 287,558
16. Stocks
Group Group Charity Charity
2024 2023 2024 2023
£ £ £ £
Consumable stocks 32,366 13,785 - 273

Page 43

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

17. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Grants and legacies receivable		 Group
2024
£
2,051
-
26,999
44,565
254,912
328,527		 Group
2023
£
11,258
-
28,274
23,356
297,146
360,034		 Charity
2024
£
-
168,833
3,055
25,882
254,912
452,682		 Charity
2023
£
5,135
60,405
5,657
12,157
297,146
380,500

18. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Group
2024
£
10,332
83,280
52,019
5,254
88,156
239,041		 Group
2023
£
10,077
87,804
22,582
3,974
98,803
223,240		 Charity
2024
£
10,332
53,773
52,019
5,254
49,199
170,577		 Charity
2023
£
10,077
63,352
22,582
3,974
42,063
142,048

Page 44

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. Creditors: Amounts falling due after more than one year

Group
2024
£
Bank loans
6,335
Included within the above are amounts falling due as follows:
Group
2024
£
Between one and two years
Bank loans
6,335
Between two and five years
Bank loans
-		 Group
2023
£
16,590
Group
2023
£
10,332
6,258		 Charity
2024
£
6,335
Charity
2024
£
6,335
-		 Charity
2023
£
16,590
Charity
2023
£
10,332
6,258

Over five years

The bank loan is a government backed Bounceback Loan which is unsecured and repayable over a period totalling 72 months, the first 12 months of which are interest and payment free. The final 60 months of the loan attracts interest at a fixed rate of 2.5%.

20. Provisions

Group

Additions
Charity
Additions		 Provisions
£
23,000
23,000
Provisions
£
23,000
23,000

Page 45

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

21. Statement of funds

Statement of funds - current year

Unrestricted funds
General funds
Restricted funds
Tea room
Fencing
Cats welfare
HAF project
Vet Bills
Costs of Living
Total of funds		 Balance at 1
January
2024
£
2,682,385
19,330
1,342
70,016
-
-
-
90,688
2,773,073		 Income
£
2,557,900
-
-
-
3,600
15,000
24,777
43,377
2,601,277		 Expenditure
£
(2,940,341)
(413)
(1,342)
(70,016)
(2,700)
(15,000)
(19,528)
(108,999)
(3,049,340)		 Gains/
(Losses)
£
41,846
-
-
-
-
-
-
-
41,846		 Balance at
31
December
2024
£
2,341,790
18,917
-
-
900
-
5,249
25,066
2,366,856

The Tea Room fund represents funds received for improvements to the tea room.

The fencing fund represents funds received for the creation, maintenance and repair of our equine fencing.

The Cats welfare fund represents legacy income received which is specifically to be spent on cats welfare.

The HAF project represents funds received to run and support children's activity days.

The Vet Bills fund represents funds received which is specifically to be spent on veterinary expenditure.

The Costs of Living project represents funds received to educate and communicate to the public the impact of cost of living on animal adoption.

Page 46

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

21. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
General funds
Restricted
funds
Animal welfare
Community
projects and
education
Woodland
maintenance
Tea room
Fencing
Cats welfare
Total of funds		 Balance at
1 January
2023
£
2,436,295
-
-
21,686
19,751
-
250,000
291,437
2,727,732		 Income
£
2,362,072
6,750
11,246
-
-
15,298
-
33,294
2,395,366		 Expenditure
£
(2,223,712)
(6,750)
(11,246)
(1,700)
(421)
(13,956)
(179,984)
(214,057)
(2,437,769)		 Transfers
in/out
£
19,986
-
-
(19,986)
-
-
-
(19,986)
-		 Gains/
(Losses)
£
87,744
-
-
-
-
-
-
-
87,744		 Balance at
31
December
2023
£
2,682,385
-
-
-
19,330
1,342
70,016
90,688
2,773,073

Page 47

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

22. Summary of funds

Summary of funds - current year


General funds
Restricted funds
General funds
Restricted funds		 Balance at 1
January
2024
£
2,682,385
90,688
2,773,073
Income
£
2,362,072
33,294
2,395,366		 Income
£
2,557,900
43,377
2,601,277
Expenditure
£
(2,223,712)
(214,057)
(2,437,769)		 Expenditure
£
(2,940,341)
(108,999)
(3,049,340)
Transfers
in/out
£
19,986
(19,986)
-		 Gains/
(Losses)
£
41,846
-
41,846
Gains/
(Losses)
£
87,744
-
87,744		 Balance at
31
December
2024
£
2,341,790
25,066
2,366,856
Balance at
31
December
2023
£
2,682,385
90,688
Summary of funds - prior year
General funds
Restricted funds		 Balance at
1 January
2023
£
2,436,295
291,437
2,727,732
2,773,073

23. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
1,583,445
Fixed asset investments
317,285
Investment property
96,667
Current assets
612,769
Creditors due within one year
(239,041)
Creditors due in more than one year
(6,335)
Provisions for liabilities and charges
(23,000)
Total
2,341,790		 Restricted
funds
2024
£
-
-
-
25,066
-
-
-
25,066		 Total
funds
2024
£
1,583,445
317,285
96,667
637,835
(239,041)
(6,335)
(23,000)
2,366,856

Page 48

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

23. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2023
£
1,538,405
287,558
133,333
962,919
(223,240)
(16,590)
2,682,385		 Restricted
funds
2023
£
-
-
-
90,688
-
-
90,688		 Total
funds
2023
£
1,538,405
287,558
133,333
1,053,607
(223,240)
(16,590)
2,773,073

24. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Losses/(gains) on investments
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Increase in stocks
Decrease in debtors
Increase in creditors
Interest paid
Increase in provisions
Net cash provided by/(used in) operating activities		 Group
2024
£
(418,336)
93,429
(6,810)
(29,727)
(6,716)
1,581
(18,581)
31,507
15,547
755
23,000
(314,351)		 Group
2023
£
(29,659)
78,053
(1,533)
(12,616)
(6,336)
-
(6,440)
606,154
57,626
648
-
685,897

Page 49

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

25. Analysis of cash and cash equivalents

Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents		 Group
2024
£
100
276,842
276,942		 Group
2023
£
100
679,688
679,788

26. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1
January
2024
£
679,788
(10,077)
(16,590)
653,121		 Cash flows
£
(402,846)
10,000
-
(392,846)		 Other non-
cash
changes
£
-
(10,255)
10,255
-		 At 31
December
2024
£
276,942
(10,332)
(6,335)
260,275

27. Contingent assets

The Charity receives income from legacies, of which they recognise in the financial statements once the amount can be reasonably determined following probate and the final estate value is known.

There have been no additional amounts notified since the year end date and hence there is no contingent asset to disclose.

Page 50

OAK TREE ANIMALS' CHARITY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

28. Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund. Amounts totalling £5,254 (2023 - £1,761) were payable to the fund at the balance sheet date and are included in creditors.

29. Operating lease commitments

At 31 December 2024 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 Group
2024
£
120,909
166,034
286,943		 Group
2023
£
110,227
181,032
291,259		 Charity
2024
£
4,188
18,846
23,034		 Charity
2023
£
5,649
5,040
10,689

30. Related party transactions

The charitable company has taken advantage of the exemptions available under section 33 of FRS 102 which dispenses with the need to disclose related party transactions with wholly owned subsidiaries within the group.

There are no transactions with related parties outside of the group.

Trustee remuneration and expenses have been disclosed in note 12.

31. Controlling party

The Charity is under the control of the Trustees.

Page 51