2024-03-31-accounts

CHARITY REGISTRATION NUMBER: 1170992

The Sloth Conservation Foundation Unaudited Financial Statements 31 March 2024

ALEXANDER BURSK LIMITED

Accountants Parkgates Bury New Road Prestwich Manchester Lancashire M25 0JW

The Sloth Conservation Foundation

Financial Statements

Year ended 31 March 2024

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	13
Statement of financial activities	14
Statement of financial position	15
Statement of cash flows	16
Notes to the financial statements	17
The following pages do not form part of the financial statements
Detailed statement of financial activities	33
Notes to the detailed statement of financial activities	36

The Sloth Conservation Foundation

Trustees' Annual Report

Year ended 31 March 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.

Reference and administrative details

Registered charity name The Sloth Conservation Foundation Charity registration number 1170992 Principal office Bank Vale Barn Bank Vale Road Hayfield High Peak SK22 2EZ England The trustees Suzanne Eszterhas Charlie Amesbury Nichola Shaw Michael Volkin was appointed as a trustee on 11 October 2024. Accountants Alexander Bursk Ltd Accountants Parkgates Bury New Road Prestwich Manchester Lancashire M25 0JW

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Structure, governance and management

Governing document

The governing document is The Sloth Conservation Foundation CIO (Charitable Incorporated Organisation) Constitution (Foundation Structure) whose only voting members are its Trustees. This was adopted on 20th June 2016 and became recognised by the Charity Commission when the Charitable Incorporated Organisation was registered on 5th January 2017.

Appointment of Trustees

The governing documents define the ongoing arrangements for Trustees to run The Sloth Conservation Foundation CIO. There can be a minimum of three and maximum of twelve charity Trustees, all serving for a minimum of three years. The Trustees have the power to elect new Trustees with regard to the skills, knowledge and experience needed for the effective administration of the CIO. The appointment of new Trustees, as well as major decisions about the CIO's activities, are all decided at a meeting of the charity Trustees or by resolution in writing or electronic form agreed by all the charity Trustees. This may comprise either a single document or several documents containing the text of the resolution in like form to each of which one or more charity Trustees has signified their agreement.

All Trustees were briefed on the role of Trustees of The Sloth Conservation Foundation CIO, given copies of the governing documents, and referred to the detail on the Charity Commission website related to becoming a trustee and to the guidance on public benefit. New trustees undergo an orientation day to brief them on their legal obligations under charity law, the Charity Commission guidance on public benefit, and inform them of the decision-making processes, the business plan and recent financial performance of the charity.

Organisation

The Trustees work entirely on a voluntary basis and hold regular quarterly meetings during the year to make decisions and review SloCo's progress. The Trustees set the overall strategy for the charity, and work with the Executive Director to develop policies and monitor business activities. The Executive Director is responsible for the day-to-day running of the charity.

At the end of the report period, the charity had 2 full-time employees and 10 contracted workers, all based in Costa Rica. SloCo is committed to paying staff fairly and in a way that reflects the skills and experience needed to deliver the charities objectives, and as such, salaries for local staff were increased this year in accordance with the increase in the cost of living. Pay bands and salaries are continually reviewed against a number of other charities.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Objectives and activities

Objectives

The objectives of The Sloth Conservation Foundation are:

(a) To promote, for the benefit of the public, the conservation of all sloth species through the protection and improvement of the physical and natural environment.

(b) To advance the education of the public, through the implementation of local and international education programmes, in the conservation of sloths and the protection and improvement of the rainforest environment that the sloths require.

Activities

As we reflect on our seventh year, we are celebrating both the progress made and the clarity gained in our approach to sloth conservation. Our journey has taken us through a period of learning, adapting, and refining our strategies to make the greatest possible impact. This year, we solidified our commitment to strategic, evidence-based projects that address critical issues facing sloths in their rapidly changing habitats.

Here are some of the most significant achievements of this past year:

• Growing the Connected Gardens Network: The Connected Gardens project has become central to our conservation work. Through partnerships with landowners, we have built the biggest network of wildlife bridges in the world that reconnect micro-fragmented habitats and provide safe passage for sloths and other arboreal animals. This approach benefits both wildlife and communities, fostering a sustainable coexistence across human-impacted landscapes.

• Uncovering Insights from the Urban Sloth Project: Now in its fourth year, the Urban Sloth Project has yielded a wealth of data on sloth behaviour in urbanised environments. This year, we began analysing this data more deeply, uncovering patterns that will guide our future conservation strategies. The findings are critical for understanding how sloths navigate urban spaces and will shape recommendations for urban planning that accommodates wildlife. We also utilised new technology to expand data collection to include sloths living in remote primary rainforests for the first time "

• Launching the Great Sloth Census: This groundbreaking census is a first for Costa Rica and a major step toward understanding sloth populations and their habitats. By using a combination of methods including a scat detection dog, human observers, and thermal drones, we're building a comprehensive picture of sloth population dynamics, distribution, and health across the country. This year we began monitoring sloth population densities in 8 key areas in the South Caribbean. The year has also brought valuable new partnerships and team members, each contributing fresh perspectives and expertise to our mission. Thanks to the steadfast support of our community, we have reached more sloths and made a greater impact than ever before. The successes documented in this report are a testament to the dedication of our supporters, volunteers, partners, and staff.

Throughout the year, we sustained our efforts through the sale of symbolic sloth adoptions, merchandise, and individual donations. These contributions have been crucial in funding our work and ensuring its continuity. Our trustees have upheld a strong commitment to public benefit, with each decision aligned to advance our conservation mission and improve sloth welfare.

The trustees confirm that they have had regard to the Charity Commission's guidance on public benefit when making decisions during the report period.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Objectives and activities (continued)

Contribution made by volunteers

During the report period, the activities of the organisation were carried out by a mixture of volunteers, contracted employees, and hired professional services. Eight on-site volunteers and three remote volunteers donated a cumulative total of 35 months of their time to assist in the physical completion of tasks and data collection. Volunteer work included planting trees, tracking free-living sloths for the Urban Sloth Project, collecting observational data on sloth behaviour and ecology, collecting habitat data by measuring foliage dimensions and density, reviewing camera trap footage from wildlife bridges, analysing scientific data, creating online content, copywriting, marketing, accounting, and merchandise fulfilment.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Achievements and performance

Building on last year's efforts to grow, strengthen, and engage our global sloth community, this year we witnessed the fruits of our labour with an increase in recurring donation subscriptions and higher donation amounts. Website traffic also saw a significant rise, growing from 1.9 million visits to 2.1 million, marking a 10.5% increase compared to the previous year. Despite the financial uncertainty brought on by the ongoing cost-of-living crisis, we generated a total income of £384,373 to support our conservation projects.

This achievement was bolstered by new collaborations with international film crews, partnerships with accredited wildlife centres worldwide, and a revamp of our corporate partnership program. Additionally, our social media following, and online engagement grew significantly over the year, reaching a total of 350,000 followers by the end of the reporting period.

The following sections provide an overview of our primary project work throughout the year, along with key highlights of our achievements.

PROJECTS:

Connected Gardens

The Connected Gardens project is a scalable, community-driven solution addressing the often-overlooked challenge of 'micro-fragmentation' in urban areas. This happens when breaks in canopy connectivity are caused by human infrastructure like buildings and roads. By reconnecting these canopy gaps and engaging landowners, we are creating vast networks of biological corridors that not only restore ecological balance but also empower local communities.

The global human population is projected to reach 9.7 billion by 2050, and by 2030, urban land cover is expected to expand by 1.2 million km2, nearly tripling the urban area from the year 2000. To protect wildlife, it is essential to create sustainable developments that allow species to move freely and safely across human-modified landscapes. Our approach is simple yet powerful: arboreal species need continuous canopy cover to safely move between fragmented habitats. Through a community-driven model, we harness the collective power of private landowner decisions. We use a combination of targeted reforestation and wildlife bridge installations to ensure that every property in a given area maintains canopy connectivity with neighbouring properties.

The resulting network of 'connected gardens' provides a safe route of passage for arboreal species and increases overall habitat availability. Landowners benefit by attracting more wildlife to their land, which can boost ecotourism opportunities, while reforestation helps reduce erosion, improve air and water quality, and provide green spaces that improve mental health and combat climate change. Community members become conservation partners, actively managing their land and contributing to the broader initiative. They receive training, serve as citizen scientists and are empowered to make informed decisions about the types of trees planted on their property, based on ecological benefits. The cumulative impact of these actions across whole communities' leads to increased habitat connectivity, greater wildlife abundance, and a significant reduction in human-wildlife conflict, demonstrating how individual efforts can drive large-scale environmental change.

During the report period, 70 key areas for reforestation were identified and property surveys were carried out at each location to determine the most appropriate course of action. 1819 trees (encompassing 70 different species) were grown from seeds in the SloCo forest nursery and planted in these target areas to restore the lost canopy connectivity and provide safe habitat for wildlife.

During the report period we installed 70 bridges connecting 140 different habitat fragments and utilizing 1130 meters of rope. This included our longest bridge at 55m, connecting 4 isolated trees. We also installed our first double rope bridge, a more easily accessible design for primates. Three

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

bridges were installed in collaboration with the United Nations Office for Project Services (UNOPS) at the site of Puerto Viejo's new sewage system to connect the forest fragments isolated in the construction of vital infrastructure for the growing town.

With 286 bridges now in place, our Connected Gardens project has become the largest wildlife bridge network in the world. We conducted maintenance work on 19 of these bridges ensuring the safety of trees, wildlife, and humans living beneath.

After the bridges are installed, we follow up with property owners and install camera traps in order to determine which species are using the bridges. During the report period we deployed 29 camera traps on 29 different bridges. Footage from these camera traps is currently being analysed by students at Manchester University and the data will be used in the future to form part of a scientific publication into wildlife bridge usage.

The most exciting development of this project has been the acquisition of new team members and the start of new professional collaborations. This year we welcomed new project manager Deily Mora onto the team, under whose leadership the Connected Gardens Project is growing to new and greater heights.

Sloth School

The wellbeing of humans and the natural world is inextricably linked. To ensure that wildlife and healthy ecosystems exist in abundance for future generations, children need to be involved from an early age. SloCo's Education Outreach program engages and empowers children to be stewards of their environment by increasing their understanding of sloths and how to address the threats they face.

Our educational program is broad, encompassing all ages. During this report period we reached over 400 students over three events, including one Sloth School session in the isolated area of Tortuguero. Our Sloth School collaborations with zoos globally are vital to the education of tourists visiting countries with endemic sloth populations, helping them to make ethical tourism choices. Zoos throughout the United States and Europe have collaborated with us to install informative signage around their sloth exhibits to promote ethical sloth tourism and dispel harmful myths. Our friends at Connecticut's Beardsley Zoo in the US helped us to launch a survey to aid our understanding of the public's perception of sloths and sloth encounters which has been completed by over 870 people.

The Sloth Friendly Network

The Sloth Friendly Network (SFN) is the first sloth accreditation program to help concerned travellers make informed choices by highlighting local businesses that have been doing their upmost to help wildlife in the area. Through the Sloth Friendly Network, we can ensure that every single property in a given area maintains canopy connectivity with neighbouring properties. This network provides a safe route of passage for sloths and other arboreal animals and increases habitat availability in disturbed areas. Property owners benefit through an increased presence of wildlife on their land, which in turn attracts more visitors.

We provide community members with everything that they need to make their business as sloth friendly as possible for free. Through our Connected Gardens project, we provide and plant native trees, build and install Sloth Crossing wildlife bridges, and we provide all educational materials needed to teach guests about the ways they can help to protect sloths. During the report period we were able accredit the 23 new local businesses in Costa Rica and reached 34,000 tourists through our responsible tourism awareness campaigns.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Saving sloths by helping dogs

Domestic and stray dog attacks are the second leading cause of death for sloths in Costa Rica. The chances of a sloth encountering a dog are high due to the sheer number of dogs roaming around and the fact that human development is breaking up the sloth's habitat. Incorrect beliefs about the castration and sterilisation of animals, coupled with irresponsible ownership and abandonment, has led to a large number of stray and feral dogs roaming the streets.

We work with Puerto Viejo Dogs (a local pet shelter) and Solano vet clinic to spay and neuter 10 rescued dogs every month, and during the report period we reached our 680th dog! That's 680 dogs that get to live healthier, happier lives, and an uncountable number of puppies that won't be homeless, add to the stray dog population, pass on zoonotic diseases, or harass wildlife.

The Urban Sloth Project

It is common in the South Caribbean of Costa Rica to find sloths in the most unexpected places: fences, powerlines, rooftops, cabinets, warehouses, kitchens, and even underneath restaurant tables. Habitat loss is the most obvious reason why sloths are living in these places, but since urban development is not going to stop, it is imperative for us to find new and better ways to coexist with the sloths and wildlife that are living in our spaces. We launched the Urban Sloth Project (USP) in November of 2020 as part of our research efforts to study the impact of habitat disturbance on the lives of the wild sloths. This project aims to compare the behaviour of sloths living in highly urbanised areas with those sloths living in healthier environments (protected primary rainforests). For example, we will be comparing how much time these sloths spend in different behaviours, what tree species they are using for food and shelter, how far they are having to move to find food and how much time they are spending on the ground vs in the canopy.

During this reporting period, the project entered its fourth year and achieved our initial goal of monitoring 32 wild sloths-29 in urban areas and three in primary rainforest, marking the next stage of data collection. We deployed our first automatic-release, remote GPS collars on three sloths living in the forest surrounding La Selva Biological Research Station. Our research team set new records by tracking 18 sloths and deploying 22 data-logging devices, amassing a total of 1,540 hours of monitoring across urban and primary forest habitats and manually collecting 3,204 data points.

Our collaboration with Heather Ewart at the University of Manchester continues to yield significant insights. She presented our first comprehensive analysis of Urban Sloth Project data logger records (from 2020 to 2023) at the International Congress for Conservation Biology (ICCB) in Rwanda. Meanwhile, long-time team member Amelia Symeou has reached the final stages of her master's degree at Swansea University, completing her analysis of ten data loggers deployed on urban sloths.

The findings from this research are essential for developing effective conservation strategies to promote peaceful coexistence between humans and sloths. For example, we are identifying key tree species for sloths in urban areas, enabling targeted protection and replanting efforts. Additionally, this research is highlighting areas where improved canopy connectivity is crucial, guiding reforestation efforts and the installation of wildlife bridges to support sloth movement and dispersal. One significant finding this year has been that sloths in urban areas are more sensitive to temperature fluctuations. Due to limited canopy layers, they struggle to find suitable microclimates to regulate their body temperature. This insight has direct implications for our conservation strategies, highlighting the importance of ensuring sloths have access to diverse microclimates.

The Great Sloth Census

Sloths are masters of disguise, living high in the canopies of dense tropical rainforests where they blend into the surrounding flora and go undetected by the senses of their predators. Unfortunately, they also go undetected by nearly all traditional methods of data collection, making them difficult for

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

humans to study. As a result, information on the status, abundance, and distribution of sloths is scarce, and for some species, lacking entirely. Although four of the six extant species are listed as "least concern" on the IUCN Red List, population trends are unknown, data on population sizes and ranges are insufficient, and re-assessment is urgently required.

The government of Costa Rica has recently declared two species of sloths as conservation concerns due to populations being in "reduced and threatened states" (B. variegatus and C.hoffmanni). They have expressed a need for the status of sloths to be accurately assessed as soon as possible.

To address this knowledge gap, we are conducting Costa Rica's first-ever sloth census using three innovative detection methods:

Scat Detection Dog : Our highly trained dog detects sloth faeces, helping us identify where sloths are present.

Human Observers : Skilled researchers use their expertise to locate sloths in their natural habitat.

Thermal Drone Technology : State-of-the-art drones equipped with thermal cameras detect the heat signatures of sloths high in the canopy, offering an aerial perspective of their presence in otherwise inaccessible areas.

By integrating these methods, we aim to determine the most effective techniques for locating sloths across different habitat types. Additionally, we collect scat samples within our survey areas for genetic and parasitic analysis, which provides deeper insights into sloth health, genetic diversity, and population status.

This census will help us monitor changes in sloth abundance and density, as well as map the geographical distribution of various populations. By tracking sloth health and population trends over time, we can evaluate the impact of conservation initiatives, allocate resources to the most effective strategies, and protect the most critical habitats. Accurate data is the foundation for driving legislative action and ensuring the long-term survival of sloths in Costa Rica's rapidly changing environment.

During this reporting period, we surveyed the first eight census locations in the South Caribbean and refined our protocols to optimize population monitoring efforts. The team covered approximately 40 kilometres of transects with our scat detection dog and conducted 33 hours of thermal aerial drone surveys. Unfortunately, progress slowed in the latter half of the year when our detection dog, Keysha, tested positive for heartworm and required four months of intensive treatment, temporarily taking her out of action.

HIGHLIGHTS:

Published Research

Our groundbreaking study, The Behaviour and Activity Budgets of Two Sympatric Sloths: Bradypus variegatus and Choloepus hoffmanni, was peer-reviewed and published, marking the first instance of using acceleration data logger devices on sloths in scientific literature.

Hanging Out for Sloths Fundraising Event

We hosted our first in-person fundraising event outside Costa Rica, raising over $20,000 with the support of more than 100 guests. Held at Beaumont Farms in Petaluma, CA, who donated the venue, the event was a significant success in expanding our conservation efforts.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Joining Forces with Local Organisations

To support indigenous communities, we joined the Festival de la Resistencia Pabru Pesbere, sharing insights into our projects and distributing 1000 trees for reforestation efforts. Additionally, we participated in a plenary organized by ATEC Asociación Talamanqueña de Ecoturismo, a local NGO promoting sustainable eco-tourism and community-focused projects. This event gathered organizations across Costa Rica's South Caribbean region to address critical issues like habitat loss, urbanization, tourism impact, gentrification, and cultural preservation, fostering a shared commitment to sustainable development.

CBS's 60 Minutes

This year, CBS visited to feature the Urban Sloth Project, interviewing Dr. Rebecca Cliffe and our team about our work. The segment provided an in-depth look at our research, following the tracking of one of our urban sloths to highlight the project's impact and significance.

The Today Show

Dr. Rebecca Cliffe was also interviewed by Today Show correspondent Stephanie Gosk at Connecticut's Beardsley Zoo, where they discussed the importance of ethical sloth tourism and the positive impact of mindful conservation efforts.

Wildlife Photographer of the Year - "Sloth Dilemma"

A photograph titled Sloth Dilemma, captured by an award-winning wildlife photographer and trustee Suzi Eszterhas, was Highly Commended in the Urban Wildlife category of the prestigious Wildlife Photographer of the Year competition. Chosen from nearly 50,000 entries across 95 countries, this image showcased the challenges sloths face in urban environments. It was displayed at the Natural History Museum of London, raising global awareness for sloth conservation and our work.

Research Collaborations

This year, we expanded our research network through collaborations with Brown University, focusing on pathogens, parasites, and dietary studies in sloths, and with Dr. Max Chavarria from Universidad de Costa Rica, who is exploring the unique algae and fungi found in sloth fur.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Financial review

During the reporting period, the charity has successfully carried out its operations by raising a total income of £384,373. By comparison, total income for the previous year was £322,214. Restricted income amounted to £59,432, including restricted grants totalling £11,882 received from the Charities Aid Foundation America. Total expenditure during the report period was £316,022 compared to £344,900 during the previous year.

Reserves policy

At the end of the report period, the trustees maintain that the charity should carry a general reserve about equal to three months predicted unrestricted fund expenditure to ensure that the launched conservation initiatives are protected against unforeseen shortfalls.

Total reserves at 31 March 2024 totalled £133,813 (2023: £65,462), of which £11,881 (2023: £9,739) were restricted. This was higher than the reserves policy dictated, but included debtors: the amount actually held in cash was £62,367. The charity has no fund or subsidiary undertaking that is materially in deficit.

Plans for future years.

As we reflect on the achievements and stability gained over the past year, we look ahead with a bold and ambitious vision. Our work in sloth conservation is just beginning, and the years to come promise new projects, strategic growth, and impactful initiatives to protect sloths and their habitats. Here's what's on the horizon:

"Enhancing Community Involvement in the Connected Gardens Project:

To deepen local engagement, our goal is to gradually transfer full ownership of the Connected Gardens network to community stakeholders. We plan to establish a dedicated WhatsApp group, a monthly newsletter for participants, and bi-annual meetings where local landowners can actively contribute to project decision-making.

Strengthening Scientific Rigour in the Connected Gardens:

Building on previous successes, we aim to harness GIS technology to enhance our habitat connectivity strategies. This year, we'll begin mapping all habitat fragments in the Talamanca province and integrate these maps with our reforestation sites and current wildlife bridges. This comprehensive mapping will allow us to identify and prioritize key areas for reconnecting fragmented habitats.

Expanding the Great Sloth Census in Costa Rica:

We plan to continue monitoring the areas we started this year and extend our efforts to additional regions, amassing data for a nationwide sloth population census. To achieve this, we'll bring on an additional detection dog and handler, collaborating with Working Dogs for Conservation to strengthen our census capabilities.

As we embark on these exciting initiatives, our commitment to sloth conservation is unwavering. Every step we take is fuelled by a vision of a world where sloths and their ecosystems thrive and where human impact aligns harmoniously with nature. We are dedicated to addressing the urgent threats to sloths - such as habitat loss, urban encroachment, and climate change - through science-driven, sustainable strategies.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

Beyond immediate conservation actions, we aim to establish a lasting foundation that future generations can build upon, ensuring sloths continue their vital role in biodiversity and ecosystem health. This mission is only possible with the support of our community, volunteers, partners, and donors. We thank you for standing with us, and we look forward to sharing each success with you in the years ahead. To sustain these efforts in the coming year, we are focused on strengthening connections with our donors and online community, with an emphasis on increasing monthly donors. We also plan to refresh our symbolic sloth adoption program, incorporating handmade products by Costa Rican artisans to support local communities.

Risk assessment

The Board of Trustees has conducted its own review of the risks to which the Sloth Conservation Foundation is exposed and systems have been established to mitigate these risks.

Access is restricted relating to financial transactions and Management are in close control of day to day operations and report directly to the Board of Trustees

Staff are made fully aware of Heath and Safety risks related to living and working in a rain forest environment.

Trustees' responsibilities statement

The trustees 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).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the applicable Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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The Sloth Conservation Foundation

Trustees' Annual Report (continued)

Year ended 31 March 2024

The trustees' annual report was approved on 28 November 2024 and signed on behalf of the board of trustees by:

Suzanne Eszterhas Trustee

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The Sloth Conservation Foundation

Independent Examiner's Report to the Trustees of The Sloth Conservation Foundation

Year ended 31 March 2024

I report to the trustees on my examination of the financial statements of The Sloth Conservation Foundation ('the charity') for the year ended 31 March 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 Act’).

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

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 (ICAEW), which is one of the listed bodies.

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

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

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 accounts to be reached.

Barry Fine FCA Independent Examiner

Parkgates Bury New Road Prestwich Manchester Lancashire M25 0JW

28 November 2024

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The Sloth Conservation Foundation

Statement of Financial Activities

Year ended 31 March 2024

			2024		2023
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	227,649	59,432	287,081	193,725
Other trading activities	5	85,515	–	85,515	107,650
Other income	6	11,777	–	11,777	20,839
		─────────	────────	─────────	─────────
Total income		324,941	59,432	384,373	322,214
		═════════	════════	═════════	═════════
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies	7	44,412	–	44,412	27,108
Costs of other trading activities	8	29,286	–	29,286	53,477
Expenditure on charitable activities	9,10	181,009	57,290	238,299	256,090
Other expenditure	12	4,025	–	4,025	8,225
		─────────	────────	─────────	─────────
Total expenditure		258,732	57,290	316,022	344,900
		═════════	════════	═════════	═════════
		─────────	────────	─────────	─────────
Net income/(expenditure) and net
movement in funds		66,209	2,142	68,351	(22,686)
		═════════	════════	═════════	═════════
Reconciliation of funds
Total funds brought forward		55,723	9,739	65,462	88,148
		─────────	────────	─────────	─────────
Total funds carried forward		121,932	11,881	133,813	65,462
		═════════	════════	═════════	═════════

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

The notes on pages 17 to 31 form part of these financial statements.

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The Sloth Conservation Foundation

Statement of Financial Position

31 March 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible fixed assets	17	23,438	18,334
Current assets
Stocks	18	3,400	–
Debtors	19	58,947	120
Cash at bank and in hand		62,367	65,039
		─────────	────────
		124,714	65,159
Creditors: amounts falling due within one year	20	14,339	18,031
		─────────	────────
Net current assets		110,375	47,128
		─────────	────────
Total assets less current liabilities		133,813	65,462
		─────────	────────
Net assets		133,813	65,462
		═════════	════════
Funds of the charity
Restricted funds		11,881	9,739
Unrestricted funds		121,932	55,723
		─────────	────────
Total charity funds	22	133,813 ═════════	65,462 ════════

These financial statements were approved by the board of trustees and authorised for issue on 28 November 2024, and are signed on behalf of the board by:

Suzanne Eszterhas Trustee

The notes on pages 17 to 31 form part of these financial statements.

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The Sloth Conservation Foundation

Statement of Cash Flows

Year ended 31 March 2024

	2024	2023
	£	£
Cash flows from operating activities
Net income/(expenditure)	68,351	(22,686)
Adjustments for:
Depreciation of tangible fixed assets	11,830	14,578
Accrued (income)/expenses	(61,732)	7,500
Changes in:
Stocks	(3,400)	1,309
Trade and other debtors	(345)	1,225
Trade and other creditors	(442)	196
	────────	────────
Cash generated from operations	14,262	2,122
	────────	───────
Net cash from operating activities	14,262	2,122
	════════	═══════
Cash flows from investing activities
Purchase of tangible assets	(16,934)	(17,267)
	────────	────────
Net cash used in investing activities	(16,934)	(17,267)
	════════	════════
Net decrease in cash and cash equivalents	(2,672)	(15,145)
Cash and cash equivalents at beginning of year	65,039	80,184
	────────	────────
Cash and cash equivalents at end of year	62,367	65,039
	════════	════════

The notes on pages 17 to 31 form part of these financial statements.

16

The Sloth Conservation Foundation

Notes to the Financial Statements

Year ended 31 March 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Bank Vale Barn, Bank Vale Road, Hayfield, High Peak, SK22 2EZ, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

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

Going concern

There are no material uncertainties about the charity’s ability to continue. The charity's operating expenses are flexible and project output can be varied depending on the monthly income received. Occasional monthly overspends are always covered by end of year extra fundraising activities. By matching expenditure to income the charity continues to operate through the current inflationary period.

Judgements and key sources of estimation uncertainty

Depreciation charge is an estimation that is material to this year's accounts an additonal vehicle was purchased this year and was depreciated 25% straight line in accordance with the charity's policy.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.

17

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

18

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

The charity's capitalisation policy is only to capitalise an item costing over £1,000.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

19

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Impairment of fixed assets (continued)

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

20

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Financial instruments (continued)

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Donations
General	150,795	–	150,795
Connected gardens	–	–	–
Save an acre	–	1,596	1,596
Planting trees	–	2,221	2,221
Sloth crossing bridges	–	23,980	23,980
Dog sterilisation	–	653	653
Urban Sloth Project	–	270	270
Giving Tuesday	209	–	209
Join V I P community	–	12,296	12,296
Scientific research	–	679	679
Education	–	100	100
Powerline insulation	–	1,892	1,892
Legacies
Legacies	17,890	–	17,890
Grants
CAF America Grants	58,755	15,745	74,500
	─────────	────────	─────────
	227,649	59,432	287,081
	═════════	════════	═════════

21

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

4. Donations and legacies (continued)

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
			£	£	£
	Donations
	General		108,692	–	108,692
	Connected gardens		–	103	103
	Save an acre		–	2,377	2,377
	Planting trees		–	4,972	4,972
	Sloth crossing bridges		–	10,809	10,809
	Dog sterilisation		–	200	200
	Urban Sloth Project		–	–	–
	Giving Tuesday		–	896	896
	Join V I P community		–	14,379	14,379
	Scientific research		–	1,747	1,747
	Education		–	2,136	2,136
	Powerline insulation		–	380	380
	Legacies
	Legacies		–	–	–
	Grants
	CAF America Grants		–	47,034	47,034
			─────────	────────	─────────
			108,692	85,033	193,725
			═════════	════════	═════════
5.	Other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2024	Funds	2023
		£	£	£	£
	Merchandising	3,942	3,942	11,704	11,704
	Adopt a Sloth virtual and physical	78,343	78,343	95,678	95,678
	Fundraising events	3,230	3,230	268	268
		────────	────────	─────────	─────────
		85,515	85,515	107,650	107,650
		════════	════════	═════════	═════════
6.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2024	Funds	2023
		£	£	£	£
	Other income	11,777	11,777	20,839	20,839
		════════	════════	════════	════════

22

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

7. Costs of raising donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Costs of raising donations and legacies
- Donations	24,609	24,609	21,734	21,734
Sponsorship	19,803	19,803	5,374	5,374
	────────	────────	────────	────────
	44,412	44,412	27,108	27,108
	════════	════════	════════	════════

8. Costs of other trading activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Merchandising	26,709	26,709	52,179	52,179
Staging events	2,577	2,577	1,298	1,298
	────────	────────	────────	────────
	29,286	29,286	53,477	53,477
	════════	════════	════════	════════

9. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Connected Gardens	38,011	16,214	54,225
Sloth Crossing	–	18,694	18,694
Oh my dog	4,180	653	4,833
Education	15,973	100	16,073
Research	47,110	13,244	60,354
Sloth friends	7,960	–	7,960
Support costs	67,775	8,385	76,160
	─────────	────────	─────────
	181,009	57,290	238,299
	═════════	════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Connected Gardens	7,766	29,070	36,836
Sloth Crossing	6,404	25,794	32,198
Oh my dog	8,468	200	8,668
Education	25,639	1,866	27,505
Research	75,274	1,500	76,774
Sloth friends	2,933	12,092	15,025
Support costs	41,123	17,961	59,084
	─────────	────────	─────────
	167,607	88,483	256,090
	═════════	════════	═════════

23

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

10. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly	Support costs	2024	2023
	£	£	£	£
Connected Gardens	54,225	18,746	72,971	55,943
Sloth Crossing	18,694	14,434	33,128	40,188
Oh my dog	4,833	7,610	12,443	12,916
Education	16,073	7,610	23,683	31,753
Research	60,354	13,425	73,779	88,902
Sloth friends	7,960	7,584	15,544	18,890
Governance costs	–	6,751	6,751	7,498
	─────────	────────	─────────	─────────
	162,139	76,160	238,299	256,090
	═════════	════════	═════════	═════════

24

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

11. Analysis of support costs

	Connected	Sloth
	gardens	crossing	Oh my dog	Education	Research Sloth friends		Total 2024	Total 2023
	£	£	£	£	£	£	£	£
Premises	10,971	3,091	1,545	1,545	1,545	1,545	20,242	21,573
General office	612	1,223	612	612	612	997	4,668	4,634
Human resources	2,831	5,662	2,831	2,831	2,831	2,831	19,817	6,930
Finance costs	1,348	2,696	1,348	1,348	1,348	1,348	9,436	4,177
Governance costs	1,613	2,100	1,613	1,613	1,614	1,614	10,167	7,500
Depreciation	2,496	786	786	786	6,601	375	11,830	14,272
	────────	────────	───────	───────	────────	───────	────────	────────
	19,871	15,558	8,735	8,735	14,551	8,710	76,160	59,086
	════════	════════	═══════	═══════	════════	═══════	════════	════════

25

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

12. Other expenditure

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Travel	–	–	225	225
Professional fees	4,025	4,025	8,000	8,000
	───────	───────	───────	───────
	4,025	4,025	8,225	8,225
	═══════	═══════	═══════	═══════

13. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

	2024	2023
	£	£
Depreciation of tangible fixed assets	11,830	14,578
Foreign exchange differences	3,986 ════════	78 ════════

14. Independent examination fees

	2024	2023
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	2,000	2,000
Other financial services	9,140	5,500
	────────	───────
	11,140	7,500
	════════	═══════

15. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2024	2023
	£	£
Wages and salaries	28,090	36,417
Employer contributions to pension plans	808	790
	────────	────────
	28,898	37,207
	════════	════════

The average head count of employees during the year was 2 (2023: 2).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

Key Management Personnel

Key management personnel include 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 £28,743 (2023:£39,315).

26

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

16. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees

No trustee expenses have been incurred.

17. Tangible fixed assets

		Motor
		vehicles	Equipment	Total
		£	£	£
	Cost
	At 1 Apr 2023	32,363	21,776	54,139
	Additions	15,000	1,934	16,934
		────────	────────	────────
	At 31 Mar 2024	47,363	23,710	71,073
		════════	════════	════════
	Depreciation
	At 1 Apr 2023	25,676	10,129	35,805
	Charge for the year	5,295	6,535	11,830
		────────	────────	────────
	At 31 Mar 2024	30,971	16,664	47,635
		════════	════════	════════
	Carrying amount
	At 31 Mar 2024	16,392	7,046	23,438
		════════	════════	════════
	At 31 Mar 2023	6,687	11,647	18,334
		════════	════════	════════
18.	Stocks
			2024	2023
			£	£
	Finished goods and goods for resale		3,400	–
			═══════	════
19.	Debtors
			2024	2023
			£	£
	Prepayments and accrued income		58,482	–
	Other debtors		465	120
			────────	────
			58,947	120
			════════	════

27

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

20. Creditors: amounts falling due within one year

	2024	2023
	£	£
Accruals and deferred income	14,250	17,500
Social security and other taxes	–	355
Other creditors	89	176
	────────	────────
	14,339	18,031
	════════	════════

21. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £808 (2023: £790).

22. Analysis of charitable funds

Unrestricted funds

					At
	At	1 Apr 2023	Income	Expenditure	31 Mar 2024
		£	£	£	£
General funds		55,723	324,941	(258,732)	121,932
		════════	═════════	═════════	═════════
					At
	At	1 Apr 2022	Income	Expenditure	31 Mar 2023
		£	£	£	£
General funds		74,959	237,181	(256,417)	55,723
		════════	═════════	═════════	════════
Restricted funds
					At
	At	1 Apr 2023	Income	Expenditure	31 Mar 2024
		£	£	£	£
CAF Grant		(3,864)	15,745	–	11,881
Connected gardens		380	–	(380)	–
Sloth crossing includes bridges		3,098	23,980	(27,078)	–
Oh my Dog		–	653	(653)	–
Education		–	100	(100)	–
Research		–	679	(679)	–

28

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

22. Analysis of charitable funds (continued)

Giving Tuesday	–	–	–	–
Join V I P	–	12,296	(12,296)	–
Save an acre	3,866	1,596	(5,462)	–
Planting trees	6,259	2,221	(8,480)	–
Urban Sloth Project	–	270	(270)	–
Giving Tuesday	–	1,892	(1,892)	–
	───────	────────	────────	────────
	9,739	59,432	(57,290)	11,881
	═══════	════════	════════	════════
				At
	At 1 Apr 2022	Income	Expenditure	31 Mar 2023
	£	£	£	£
CAF Grant	7,315	47,034	(58,213)	(3,864)
Connected gardens	–	483	(103)	380
Sloth crossing includes bridges	3,098	10,809	(10,809)	3,098
Oh my Dog	–	200	(200)	–
Education	–	2,136	(2,136)	–
Research	–	1,747	(1,747)	–
Giving Tuesday	–	896	(896)	–
Join V I P	–	14,379	(14,379)	–
Save an acre	1,489	2,377	–	3,866
Planting trees	1,287	4,972	–	6,259
Urban Sloth Project	–	–	–	–
Giving Tuesday	–	–	–	–
	────────	────────	────────	───────
	13,189	85,033	(88,483)	9,739
	════════	════════	════════	═══════

29

The Sloth Conservation Foundation

Notes to the Financial Statements (continued)

Year ended 31 March 2024

22. Analysis of charitable funds (continued)

CAF grant

Grant for specific expenditure relating to Connected Gardens.

Connected Gardens

Funds to be used to ensure that specific areas have a connected canopy

Sloth crossing

To restore canopy connectivity by the use of rope bridges.

Oh my Dog

To reduce feral dog population and to train domestic dogs not to attack sloths

Education

Funds lessons in environmental stewardship, mainly to children

Research, Urban Sloth Project and Join VIP Community

Funds various projects to learn more on sloths' types and habitat, and publish data

Save an acre

Aims to purchase rainforest to be able to protect it.

Planting trees

Funds the growing of trees from seedlings. The trees can then be planted in targeted areas to prevent arboreal animals having to travel on the ground.

Powerline insulation

To insulate powerlines.

23. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Tangible fixed assets	23,438	–	23,438
Current assets	112,833	11,881	124,714
Creditors less than 1 year	(14,339)	–	(14,339)
	─────────	────────	─────────
Net assets	121,932	11,881	133,813
	═════════	════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Tangible fixed assets	10,393	7,941	18,334
Current assets	63,361	1,798	65,159
Creditors less than 1 year	(18,031)	–	(18,031)
	────────	───────	────────
Net assets	55,723	9,739	65,462
	════════	═══════	════════

30