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← The Sloth Conservation Foundation

2025-03-31-accounts

The Sloth Conservation Foundation

Annual Report and Unaudited Financial Statements

For the Year Ended 31 March 2025

Charity Registered in England and Wales Number: 1170992

The Sloth Conservation Foundation Contents For the Year Ended 31 March 2025

Page
Reference and Administrative Details 1
Trustees’ Report 2 – 12
Independent Examiner’s Report to the Trustees 13
Statement of Financial Activities 14
Balance Sheet 15
Notes to Financial Statements 16 – 27

The Sloth Conservation Foundation Reference and Administrative Details For the Year Ended 31 March 2025

Trustees S Eszterhas Chair
C Amesbury
S Bastola
N Shaw
M Volkin
Key management personnel Dr R Cliff Executive Director
T Avila General Director
C Pamich Director of Growth and Communications
P Silfeni Marketing Director
Charity Number 1170992
Principal Address and Registered Office Bank Vale Barn
Bank Vale Road
Hayfield
High Peak
SK22 2EZ
Independent Examiner Michelle Ferris BSc (Hons) FCA DChA
Albert Goodman LLP
Goodwood House,
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

The Trustees’ present their report and accounts for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, comply with the Charity’s governing document, applicable law and the requirement of the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP FRS 102) (implemented 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The governing document is The Sloth Conservation Foundation CIO Constitution (Foundation Structure) who’s 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 (“SloCo”). There can be a minimum of three and maximum of 12 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.

The Trustees serving during the period and since the period end are as follows:

None of the trustees have any beneficial interest in the charity. All trustees are members 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 the equivalent of 11 full-time employees. SloCo is committed to paying staff fairly and in a way that reflects the skills and experience needed to deliver the charities objectives. Pay bands and salaries are continually reviewed.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

OBJECTIVES AND ACTIVITIES

Objectives

The objectives of The Sloth Conservation Foundation are:

Activities

As we reflect on our eighth year, it has been a whirlwind of incredible progress, unexpected challenges, and plenty of learning on the go. We celebrated major wins, like installing a record-breaking 83 new wildlife bridges, welcoming fantastic new team members, and making big advancements in sloth research. But we also had our fair share of “why is this happening?” moments - like our thermal drone flying off on its own, a tree falling and crushing our forest nursery (the irony wasn’t lost on us), and of course, the ongoing battle to break the "Curse of the Census" in our national sloth population study. Through it all, every milestone, every challenge, and every breakthrough has been a testament to the passion, persistence, and adaptability of our team and supporters.

One of the biggest highlights of the year was watching our Connected Gardens Project thrive under new leadership, proving that small actions really do lead to big change. Conservation isn’t just about saving wildlife - it’s about building relationships, fostering trust, and working hand-in-hand with communities. Seeing local residents take ownership of conservation has been one of the most rewarding aspects of this work.

Of course, challenges are part of the journey. From navigating bureaucratic red tape in wildlife bridge approvals to battling jungle wear and tear on existing bridges, we have had to innovate, adapt, and keep pushing forward. This year, we launched new research into more durable and eco-friendly bridge materials, built key partnerships to scale up our impact, and - perhaps most exciting of all - we have now officially created the world’s largest network of wildlife bridges!

This year, after years of setbacks and challenges, we finally saw the Great Sloth Census come to life. For the first time, we began collecting real, science-backed data on sloth population densities across Costa Rica - a massive effort that will reshape how we protect sloths in the future. This project demanded sheer persistence, creative problem-solving, and more 3 AM wake-up calls than the field team would like. But now, the hard work is paying off. The data is already challenging long-held assumptions about sloth populations, revealing insights that could rewrite what we thought we knew about their distribution and survival. A special shoutout goes to Keysha, our now-retiring sloth detection dog, whose dedication and keen nose have made this work possible. She has officially earned a lifetime supply of squeaky toys for her service to sloth conservation!

Meanwhile, our Urban Sloth Project revealed new insights into the challenges sloths face in human-altered landscapes, reinforcing the urgent need for microclimate conservation as climate change intensifies. We also expanded our research partnerships, ensuring that our work remains evidence-based, impactful, and accessible to the scientific community.

Throughout the year, we sustained our efforts through grant funding, individual donations, the sale of symbolic sloth adoptions and merchandise. Our trustees have upheld a strong commitment to public benefit, with each decision aligned to advance our conservation mission and improve sloth welfare.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

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. Fifteen on-site volunteers and two remote volunteers donated a cumulative total of 83 months of their time to assist in the physical completion of tasks and data collection. Volunteer work included planting trees, tracking sloths, collecting observational and habitat data, reviewing camera trap footage, analysing scientific data, creating online content, copywriting, marketing, accounting, and merchandise fulfilment.

ACHIEVEMENT AND PERFORMANCE

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

Connected Gardens

The Connected Gardens Project is a scalable, community-driven solution tackling micro-fragmentation caused by roads and urban infrastructure. With 80% of Costa Rica’s land privately owned, reconnecting sloth habitats requires collaboration with local landowners to create meaningful ecological change.

By bridging canopy gaps through targeted reforestation and wildlife bridges, we have built vast biological corridors that restore ecological balance while empowering communities to take ownership of conservation. Sloths and other arboreal species depend on continuous canopy cover to move safely - our approach ensures every property maintains connectivity with its neighbours.

Landowners become conservation partners, receiving training to make informed decisions about reforestation and biodiversity. This grassroots effort fosters long-term environmental resilience, reducing habitat loss, erosion, and climate impacts while expanding safe passage for wildlife.

Over the past 40 years, Costa Rica’s human population has doubled, with urban development surging by 250%. In Talamanca alone, urban sprawl has expanded by 30% in just two years, leading to the loss of an estimated 3,000 sloths annually due to habitat fragmentation. The Connected Gardens Project provides a sustainable, community-led solution, ensuring sloth survival for generations to come.

2024 – 2025 impact

This year we were thrilled to welcome Deily Mora as the new Connected Gardens project manager. Deily is an experienced Costa Rican agronomist, a trained tree climber, and a passionate advocate for communitydriven conservation. Since joining, she’s been busy strengthening relationships with landowners, forging new partnerships, and bringing much-needed structure to our (often chaotic) fieldwork schedule.

A big highlight of 2024 was our international collaboration with Mike Fairlie from Lund University. Together we used GIS mapping to analyse forest connectivity and identified 234 isolated forest patches still in need of reconnection. We were able to work out that by strategically installing just 100 more wildlife bridges, we could reconnect 84% of these areas, restoring 457 hectares of critical sloth habitat and linking them back to protected areas!

This year also brought some serious upgrades to our forest nursery. We expanded seedbeds, improved climate control, and installed better irrigation systems, boosting our seedling production capacity by 37% compared to 2023. This growth helped us plant 2,353 native trees.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

We also installed 83 new wildlife bridges - a 93% increase from 2023 - bringing the total to 335 bridges at the end of 2024 (this is now recognized as the largest wildlife bridge network in the world). These bridges have reconnected 55 hectares of fragmented forest patches to protected areas, enabling safe wildlife movement. Camera traps recorded 794 crossing events involving 51 species, demonstrating the tangible success of our efforts. Most importantly, these corridors have reduced sloth injuries and deaths by 82% in hotspot areas. Community involvement remains at the heart of the Connected Gardens Project, and the community’s positive attitude toward conservation is evident. In a recent survey, 91% of residents expressed joy at witnessing the benefits of our bridges and reforestation efforts for wildlife. To date, through workshops, site visits, and hands-on training, we have reached over 3000 community members.

Challenges

This year hasn’t been without its challenges, but with a mix of creativity, persistence, and a good sense of humour, we’ve tackled them head-on.

One ongoing hurdle has been securing government approval for installing bridges in public areas and across roads. Bridges in these locations are needed to connect forest fragments to protected areas, yet bureaucratic delays have slowed progress to a pace that would make even a sloth impatient.

At the same time, rapid urbanization is fragmenting sloth habitats faster than ever, increasing the urgency for new connectivity solutions. Keeping up with this growing demand is no small feat, but we remain committed to bridging these gaps.

Perhaps our biggest challenge is the ongoing battle between bridge materials and the relentless jungle. The ropes we use have a limited lifespan of just 3–5 years, requiring constant maintenance and replacement. With hundreds of bridges already in place - and many more to come - long-term sustainability is a top priority.

As part of our commitment to continuous improvement, we are assessing the environmental impact of our bridge materials. Recent findings suggest that our current ropes may release microplastics as they degrade, prompting us to proactively seek more durable and eco-friendly alternatives. As soon as we identify the best option, we will transition to these new materials and systematically replace existing ropes.

2024 in numbers:

The Great Sloth Census

We pushed forward with the Great Sloth Census in 2024 - despite what felt like a never-ending string of setbacks. Every time we attempted to conduct a census, something went wrong, leading us to jokingly name it the “Curse of the Census.” From our thermal drone deciding to take off on its own (a phenomenon known as the flyaways, where a drone loses connection and literally flies away) to our detection dog, Keysha, requiring not one, but two emergency ligament surgeries, it seemed like the odds were against us. But, in true sloth-like fashion, we refused to give up.

And finally, things are coming together. Seeing the results roll in has been one of the most satisfying moments of all time - not just because of the sheer effort behind this project, but because this data underpins everything we do. Without an accurate sloth population estimate, it is nearly impossible to secure the financial and legal protections they so desperately need.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

Sloths are masters of camouflage, blending seamlessly into the dense rainforest canopy to avoid predators - and, unfortunately, researchers. Because of this, information on population size, distribution, and status is severely lacking, with some sloth species having virtually no data at all. While four of the seven sloth species are currently classified as "least concern" on the IUCN Red List, this classification is based on incomplete or outdated information. The reality is, we don’t know enough to assess how sloths are really doing, which is why this census is so critical. To fill this data gap, we are using three different sloth detection methods: a trained scat detection dog, human observers and thermal drone technology.

2024 – 2025 impact

Despite ongoing challenges, we made significant progress this year, completing surveys at eight locations in Talamanca. Early findings confirm what we long suspected - sloth density varies dramatically by habitat type.

We also partnered with Anne Kirstine Rosenkvist Kaad (Lund University) to develop spatial suitability maps, identifying the most effective detection methods for different habitats. So far, human observers detect more sloths (0.75 per 0.5 hectares) than drones (0.5 per 0.5 hectares), but drones require fewer personnel hours. Tree height plays a critical role in detection success, particularly for drones.

Now that we’re seeing results, the next step is scaling up. With a clearer understanding of the best detection methods, we can expand the census, refine techniques, and move closer to building an accurate population estimate for sloths. After years of setbacks, we are finally making progress - because if sloths have taught us anything, it's that persistence pays off.

Keysha’s journey

In 2023, we partnered with Working Dogs for Conservation to train the world’s first sloth scat detection dog, Keysha, alongside her handler, Tamara. Their journey has been anything but easy. After months of intensive training, their fieldwork was delayed when Tamara fractured her foot. Once she recovered, Keysha injured her leg, followed by a routine vet check revealing heartworm, a potentially fatal parasite. After four months of treatment, she was back on her feet - only to suffer two cruciate ligament injuries, requiring back-to-back surgeries. With seven months out of work in 2024, it’s been a tough road, but Keysha has fully recovered and is performing better than ever. However, at seven years old, she is nearing retirement, and we urgently need a successor. Thankfully, we have once again partnered with Working Dogs for Conservation, and the search is now underway for the next sloth detection dog to carry Keysha’s legacy forward.

Listening to Sloths: Exploring Bioacoustic Monitoring

This year, we began experimenting with bioacoustic monitoring as a potential tool for tracking wild sloth populations. This technique involves placing small sound recording devices in the jungle to capture and analyse species-specific vocalizations over time.

At first, this might not seem like a useful method for sloths - two-fingered sloths are nearly silent, making this approach ineffective for them. However, three-fingered sloths are surprisingly vocal! Females in oestrus produce distinct calls (always in the pitch of D-sharp), and both males and females emit high-pitched sounds when fighting.

To test the feasibility of this method, we conducted a controlled trial in partnership with a local rescue center, where rescued sloths vocalized naturally during oestrus. We placed bioacoustic recorders (Audiomoths) at varying distances to determine how far away these calls could be detected. We also used this data to train AI software to automatically identify sloth vocalizations - eliminating the need for manual analysis.

The results were promising: sloth calls were consistently detectable up to 50 meters in all directions. With this knowledge, we are now deploying bioacoustic recorders in our sloth census transect locations, comparing recorded vocalizations to direct sloth sightings. If successful, this could become a cost-effective, non-invasive way to monitor sloth populations—helping us better understand their distribution and behaviour across different habitats.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

The Urban Sloth Project

The Urban Sloth Project is a long-term study exploring how habitat disturbance and urbanization affect the behaviour, health, and survival of wild sloths in Costa Rica. By comparing sloths in urban areas, secondary regrowth forests, and protected primary rainforests, we are uncovering how different environments shape their movements, activity levels, and overall well-being. To do this, we equip wild sloths with GPS tracking collars and miniature data loggers that monitor behaviour, body orientation, tree height, and energy expenditure, among many other things.

To date, we have monitored 39 wild sloths, with some individuals tracked daily for over two years. The discoveries we are making are shedding new light on sloth ecology and directly informing our conservation strategies to better protect them in a world that is changing very quickly.

2024 – 2025 impact

This year, our efforts paid off with a breakthrough finding: sloths in urban areas are facing increased challenges because they lack access to the variety of microclimates that would normally be found in a complex rainforest ecosystem. In dense forests, there are multiple canopy layers, and the understory is typically cool and shaded. Sloths can’t regulate their own body temperature very well, so they rely on these microclimates to keep them cool. In urban areas, the canopy is sparse and sloths are more vulnerable to heat stress (a problem that is only getting worse with climate change).

Armed with this knowledge, we are shifting our approach. Moving forward, we will be strategically planting trees that not only provide food but also create microclimates. It’s a simple yet powerful way to help sloths adapt to their changing environment.

Strengthening Our Mission Through Collaboration

Building on our partnership with Brown University, we continued investigating how environmental changes affect sloth health, diet, and parasite loads. This year marked a milestone as the first research paper from this collaboration was submitted for publication, backed by extensive field data.

We also welcomed Catalina Pérez García, our newest PhD student, who is leading pioneering research on sloth population dynamics. Her work integrates the One Health approach, exploring the connections between sloths, leishmaniasis (a parasitic disease), and habitat disturbance—a crucial step in understanding and mitigating emerging conservation challenges.

Further strengthening our commitment to science and education, we formalized partnerships with the National University of Costa Rica (UNA) and Latina University. These collaborations will expand opportunities for conservation research, student training, and community engagement, ensuring long-term impact for sloths and their habitats.

This year, we also launched a new collaboration with PhD researcher Caleb Jeavons (University of Tennessee) and Master’s student Renske (Wageningen University) to study how linear infrastructure, like highways, affects sloth movement and behaviour. With 28 camera traps now installed on our wildlife bridges, we are gathering critical data to assess their effectiveness and improve future connectivity solutions.

New Research Published: The Future of Sloths in a Warming World

At SloCo, we believe that scientific knowledge should be freely accessible, which is why we always publish our research in open-access journals. This year, we published a new study titled “Sloth metabolism may make survival untenable under climate change scenarios.”

Our findings reveal a sobering reality: by the end of the century, climate change could make survival nearly impossible for some sloth populations. As temperatures rise, sloth metabolism increases, making them more vulnerable to heat stress. Highland sloths, adapted to cooler climates, are at greatest risk as they lack the ability to slow their metabolism like their lowland counterparts. With limited migration options, they face shrinking, overheated habitats that could soon become uninhabitable.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

Protecting sloths means protecting their habitats, preserving the cool microclimates they depend on. However, conservation alone is not enough - urgent climate action is needed. Governments must uphold international climate agreements, like the Paris Agreement, to limit global warming. Without immediate intervention, some sloths may have nowhere left to go. Addressing climate change at its source is the only way to ensure their survival.

The Eternal Sloths

How long do sloths live in the wild? The honest answer is - we have no idea. While two-fingered sloths have been known to live over 50 years in captivity, and the oldest recorded three-fingered sloth reached 27, we suspect their true lifespan in the wild is even longer.

Understanding a sloth’s natural lifespan is more than just a curiosity - it’s essential for conservation. Longevity plays a key role in calculating generation length, an important factor in assessing population health, stability, and conservation status. To answer this mystery, we have launched a unique, long-term effort: The Eternal Sloths.

This select group includes three sloths living in disturbed areas and two in primary rainforest, all of whom we plan to monitor for their entire lives. It’s a long-term commitment - these sloths may very well outlive us all - but the knowledge gained will be invaluable for sloth conservation. Only time will tell what the future holds, but one thing is certain: we’ll be following their journey every step of the way.

2024 in numbers:

Raising Awareness

In 2024, we reached more people than ever before - expanding our digital presence to raise global awareness about sloths, responsible tourism, habitat conservation, and the importance of science-based information. Our online education hub, Slothopedia, continued to grow as the world’s leading resource for accurate sloth knowledge - trusted by researchers, educators, and the public alike. Our Global Reach in 2024:

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

HIGHLIGHTS

Beyond our core projects, 2024 was packed with exciting developments, new collaborations, and unexpected adventures.

Team Sloth goes to Brazil

This year, Team Sloth embarked on an unforgettable journey to Brazil to meet Gabriel Massocato, a renowned researcher dedicated to studying and protecting giant armadillos through his work with Projeto Tatu Canastra. This trip was an incredible opportunity to dive into the world of sloths’ armoured cousins, learning about their ecology, behaviour, and the challenges they face. But more than that, it was a chance to exchange knowledge, explore innovative conservation strategies, and gain valuable insights from Gabriel and his team - insights that can help shape and strengthen our own approaches to sloth conservation.

Sloth Crisis Roundtable

This year we were invited to the Legislative Assembly of Costa Rica to participate in an important discussion on the growing issue of sloth tours and wildlife encounters. Alongside fellow conservation professionals and colleagues, we had the opportunity to advocate for responsible tourism practices, providing policymakers with science-backed insights into sloth ecology and conservation - knowledge drawn from over 15 years of research on wild sloths. Being recognized at the government and policy level was a proud moment for us. It reaffirmed the impact of awareness-driven initiatives, the importance of our research, and the power of grassroots support to drive real legislative change.

Rights of Nature

This year, we took the first steps toward an ambitious goal: advocating for the recognition of the Rights of Nature in Costa Rica using sloths as a flagship species. This legal framework would grant ecosystems and wildlife legal personhood, ensuring they receive enforceable protections against exploitation and destruction. This is just the beginning of a long journey, but with the right legal recognition, we can ensure sloths - and the rainforests they depend on - are safeguarded for generations to come.

Sloths Take Over the Big City!

This year, we teamed up with ABGmedios, a leading company in large-format advertising across Costa Rica and Central America, to bring sloths into the spotlight—literally! Thanks to their generous donation of billboard space in San José’s metropolitan area, our conservation message is now impossible to miss. Even in the heart of the city, the message is clear: Sloths need trees, not traffic!

FINANCIAL REVIEW

During the reporting period, the charity successfully carried out its operations, generating total income of £443,793 (2024: £384,373). Restricted grant income totalling £121,088 was received from institutional and philanthropic funders including CAF America, Play for Nature and the Zoological Society of Hertfordshire. Total expenditure for the year amounted to £410,663 (2024: £316,022), reflecting increased programme delivery and project-related activity. The charity achieved a net surplus of £33,130 , which strengthened unrestricted reserves and contributed to the long-term financial sustainability of the organisation.

Reserves policy

At year end, the trustees maintained a reserves policy requiring the charity to hold unrestricted general reserves equivalent to approximately three months of projected unrestricted expenditure to safeguard operational continuity and protect conservation initiatives against short-term income fluctuations. Based on expenditure during the reporting period, unrestricted reserves of £88,000 were held at year end. As the organisation grows, the trustees intend to increase the level of general reserves to approximately six months of operating expenditure (target reserves of ~£177,000) to enhance financial resilience. This increase will be achieved gradually and in line with available resources.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

Total reserves at 31 March 2025 totalled £166,943 (2024: £133,813), of which £1,066 (2024: £11,881) was restricted. The free reserves of the charity (unrestricted funds excluding fixed assets and associated borrowing) were £155,849 (2024: £98,494). Whilst this is higher than the reserves policy, the charity are looking at ways to invest future funding. The charity has no fund or subsidiary undertaking that is materially in deficit.

PLANS FOR FUTURE YEARS

As we move into 2025, we remain committed to focusing on high-impact, evidence-based conservation solutions that create meaningful, measurable change. With a clear mission, ambitious targets, and welldefined deliverables, we are set to make our biggest impact yet.

Building the Future: Our New Headquarters

Thanks to the generous support of our donors, we are reaching an exciting milestone - the construction of our first permanent headquarters in the jungle. This long-awaited home for Team Sloth will be a dedicated hub for research, conservation, and community engagement, allowing us to scale our impact and protect sloths more effectively than ever before. The new facility will feature a research lab, a significantly expanded forest nursery, and additional office space to support our growing team!

Connected Gardens

In 2025, we will be scaling up our Connected Gardens Project, strengthening community engagement, and ensuring long-term sustainability.

But we know that bridges and trees alone won’t solve everything - people are at the heart of this project. That’s why we’re focusing on strengthening our Connected Community - a growing network of stakeholders, landowners, and partners who help make this work possible.

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

The Great Sloth Census

In 2025, we are expanding the Great Sloth Census, strengthening our team, and refining our methods to gather the most accurate population data yet.

By the end of 2025, we aim to be preparing to publish the first census results, offering groundbreaking insights into sloth populations and their long-term conservation needs.

The Urban Sloth Project

Our research efforts in 2025 will deepen our understanding of sloth movement, adaptation, and genetics, allowing us to make data-driven conservation decisions.

By analysing our growing database, we will transform raw field data into meaningful conservation insights that guide future protection efforts.

The Sloth Guardians: Protecting Sloths Through Community Action

In 2025, we are aiming to launch The Sloth Guardians, a community-driven initiative aimed at empowering local residents in the South Caribbean of Costa Rica to actively protect sloths and their habitats. Through education, engagement, and collaboration, we will build a network of trained Sloth Guardians who can respond to sloth-related issues and promote conservation. Key objectives include:

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The Sloth Conservation Foundation Trustees’ Report For the Year Ended 31 March 2025

Sloth-Friendly Tour Guide Training Program

In 2025 we also aim to launch a new program that will educate and empower local tour guides in the South Caribbean to promote responsible sloth tourism and support conservation. By providing accurate information and ethical guidelines, tour guides can become key conservation allies while enhancing visitor experiences. Objectives include:

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 will be building a new website and transitioning all sloth adoptions into a digital format to reduce waste and fulfilment costs.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with 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).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on 23 January 2026

S Eszterhas Chair

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The Sloth Conservation Foundation Independent Examiner’s Report to the Trustees For the Year Ended 31 March 2025

Independent examiners report to the Trustees of The Sloth Conservation Foundation

I report to the trustees on my examination of the accounts for The Sloth Conservation Foundation (“the charity”) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).

I report in respect of my examination of the charity’s accounts 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 2011 Act.

Albert Goodman LLP provides the charity with book-keeping services. I confirm that the necessary safeguards as required by the Directions of the Charity Commission have been implemented, and that I have applied the provisions of the Revised Ethical Standard 2016 issued by the Financial Reporting Standard.

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 & Wales, 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 2011 Act; or

  2. the accounts do not comply with these records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of the 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.

Michelle Ferris BSc (Hons) FCA DChA Goodwood House for and on behalf of Blackbrook Park Avenue Albert Goodman LLP Taunton Chartered Accountants Somerset TA1 2PX

Date: 27 January 2026

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The Sloth Conservation Foundation Statement of Financial Activities For the Year Ended 31 March 2025

----- Start of picture text -----
Unres- Res- Unres- Res-
tricted tricted Total 2025 tricted tricted Total 2024
Note £ £ £ £ £ £
Income:
Donations and legacies 2 234,843 121,088 355,931 227,649 59,432 287,081
Other trading activities 3 82,568 - 82,568 85,515 - 85,515
Other income 5,294 - 5,294 11,777 - 11,777
Total income 322,705 121,088 443,793 324,941 59,432 384,373
Expenditure:
Costs of raising funds
Donations and legacies 4 67,515 - 67,515 44,412 - 44,412
Other trading activities 5 43,768 - 43,768 29,286 - 29,286
Charitable activities 6 167,477 131,903 299,380 185,034 57,290 242,324
Total expenditure 278,760 131,903 410,663 258,732 57,290 316,022
Net income/(expenditure)
before transfers 43,945 (10,815) 33,130 66,209 2,142 68,351
Transfers between funds 14 - - - - - -
Net movement in funds 43,945 (10,815) 33,130 66,209 2,142 68,351
Reconciliation of funds
Total funds brought forward 14 121,932 11,881 133,813 55,723 9,739 65,462
Total funds carried forward 165,877 1,066 166,943 121,932 11,881 133,813
----- End of picture text -----

The statement of financial activities has been prepared on the basis that all operations are continuing operations.

There were no gains or losses arising in the period that are not shown above.

The statement of financial activities incorporates the income and expenditure account.

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The Sloth Conservation Foundation Balance Sheet As at 31 March 2025

----- Start of picture text -----
2025 2024
£ £
Note
Fixed assets
Tangible fixed assets 10 10,028 23,438
Current assets
Stock 11 - 3,400
Debtors 12 - 58,947
Cash at bank and in hand 167,054 62,367
167,054 124,714
Liabilities
Creditors falling due within one year 13 (10,139) (14,339)
Net current assets 156,915 110,375
Total net assets 166,943 133,813
The funds of the charity:
Restricted funds 14 1,066 11,881
Unrestricted funds 165,877 121,932
Total charity funds 166,943 133,813
----- End of picture text -----

The financial statements were approved by the Board of Trustees on 23 January 2026 and signed on their behalf by:

S Eszterhas Chair

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

1 Accounting policies

The principle accounting policies adopted in the preparation of the financial statements are:

1.1 Basis of accounting

The financial statements have been prepared in £ sterling on the historical cost basis and in accordance with 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) – (Charities SORP FRS 102).

The 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 note(s).

1.2

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.

1.3 Income

Income from donations is recognised on a cash basis, in the year the income is physically received, except when the donors specify that they must be used in future accounting periods or donor conditions have not been fulfilled, then the income is deferred.

Bequests and legacies are included when entitlement is established, it is probable that the amount will be received, and the amount receivable can be estimated with sufficient accuracy.

Income from grants is recognised in the year in which they are receivable. Grants without performance conditions are presented within donations and legacies and within charitable activities when performance criteria apply.

Income from government grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Where no conditions are attached to the grant income they are recognised within donations and legacies and where conditions relating to performance of services are attached, grant income is recognised in income from charitable activities within the Statement of Financial Activities.

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.

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

1.4 Expenditure

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:

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.

During the year, the charity refocused activities into 3 key projects. Accordingly, the support cost allocation has been updated to reflect these projects, with the split based on an estimation of the use of the resources of the charity across the projects.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:

Motor vehicles 25% straight line Equipment 33% straight line

Tangible fixed assets for use by the charity are capitalised where the cost is greater than £1,000.

1.6 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stock is calculated on a first in, first out basis.

In line with the charities SORP FRS 102, it is considered that the costs of valuation of goods donated for resale outweighs the benefits to users of the financial statements and therefore donated goods are recognised when sold.

1.7 Debtors

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

1.8

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.

1.9 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

1.10 Fund accounting

Funds held by the charitable company are one of the following types:-

1.13 Pension

The Charity operates a defined contribution pension scheme. Contributions are expensed as they become payable.

1.14 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.

1.15 Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Investment portfolios are basic financial instruments measured at fair value through the income and expenditure account. Prepayments are not financial instruments.

Cash at bank - is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

----- Start of picture text -----
2 Donations and legacies
Unrest- Restrict- Total Unrest- Restrict- Total
ricted ed 2025 ricted ed 2024
£ £ £ £ £ £
Donations:
General 215,985 84,389 300,374 150,795 - 150,795
Save an acre - 1,066 1,066 - 1,596 1,596
- -
Planting trees 4,785 4,785 2,221 2,221
- -
Sloth crossing bridges 26,061 26,061 23,980 23,980
Dog sterilisation - - - - 653 653
Urban sloth project - 409 409 - 270 270
Giving Tuesday - - - 209 - 209
- -
Join V I P community 18,858 18,858 12,296 12,296
Scientific research - 291 291 - 679 679
Education - 76 76 - 100 100
Powerline insulation - - - - 1,892 1,892
- - - -
Legacies 17,890 17,890
Grants - 4,011 4,011 58,755 15,745 74,500
Total 234,843 121,088 355,931 227,649 59,432 287,081
----- End of picture text -----

3
Other trading activities
Merchandise
Adopt a Sloth (virtual and physical)
Fundraising events
Total		 Unrest-
ricted
£
7,692
74,876
-		 Restrict-
ed
£
-
-
-		 Total
2025
£
7,692
74,876
-		 Unrest-
ricted
£
3,942
78,343
3,230		 Restrict-
ed
£
-
-
-		 Total
2024
£
3,942
78,343
3,230
82,568 - 82,568 85,515 - 85,515

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

4 Cost of raising funds – donations and legacies

----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2025 tricted tricted 2024
£ £ £ £ £ £
Donations and legacies
Donations 67,515 - 67,515 24,609 - 24,609
- - - -
Sponsorship 19,803 19,803
- -
67,515 67,515 44,412 44,412
----- End of picture text -----

5 Cost of raising funds – other trading activities

----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2025 tricted tricted 2024
£ £ £ £ £ £
Other trading activities
Merchandise 32,516 - 32,516 26,709 - 26,709
- -
Staging events 11,252 11,252 2,577 2,577
- -
43,768 43,768 29,286 29,286
----- End of picture text -----

6 Expenditure on charitable activities

Direct costs
Connected gardens
Sloth crossing
Oh my dog
Education
Research
Sloth friends
Community engagement
Support costs
Other costs
Total		 Unrest-
ricted
£
-
-
-
-
30,221
-
6,635
130,621
-		 Restrict-
ed
£
101,360
-
-
-
30,467
-
76
-
-		 Total
2025
£
101,360
-
-
-
60,688
-
6,711
130,621
-
299,380		 Unrest-
ricted
£
38,011
-
4,180
15,973
47,110
7,960
-
67,775
4,025		 Restrict-
ed
£
16,214
18,694
653
100
13,244
-
-
8,385
-		 Total
2024
£
54,225
18,694
4,833
16,073
60,354
7,960
-
76,160
4,025
242,324
167,477 131,903 185,034 57,290

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

6 Expenditure on charitable activities by fund

----- Start of picture text -----
Activities Activities
undertaken Support Total undertaken Support Total
directly costs 2025 directly costs 2024
£ £ £ £ £ £
Connected gardens 101,360 50,784 152,144 54,225 19,871 74,096
- - -
Sloth crossing 18,694 15,558 34,252
- - -
Oh my dog 4,833 8,735 13,568
Education - - - 16,073 8,735 24,808
Research 60,688 55,260 115,948 60,354 14,551 74,905
Sloth friends - - - 7,960 8,710 16,670
- - -
Community engagement 6,711 24,576 31,287
Total 168,759 130,621 299,380 162,139 76,160 238,299
----- End of picture text -----

7 Analysis of support costs

----- Start of picture text -----
Connected Community Total
gardens Research Engagement 2025
£ £ £ £
Premises 3,810 3,810 1,905 9,526
General office 12,604 12,604 6,302 31,509
Human resources 17,318 17,318 8,659 43,296
Finance costs 7,868 7,868 3,934 19,669
Governance costs 5,284 5,284 2,642 13,211
Depreciation 3,900 8,376 1,134 13,410
Total 50,784 55,260 24,576 130,621
----- End of picture text -----

Analysis of support costs – prior year

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

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

8 Net incoming resources before transfers

----- Start of picture text -----
2025 2024
£ £
Net incoming resources for the period are stated after charging
Foreign exchange differences 4,129 3,986
Depreciation 13,410 11,830
Independent examiners’ remuneration:
Current examiner
-
Independent examiners fee 1,200
Other services 5,775 -
Previous examiner
-
Independent examiners fee 2,000
Other services 4,470 9,140
----- End of picture text -----

9 Employees

Employment costs – UK Payroll

Wages and salaries
Social security costs
Pension costs		 2025
2024
£
£
17,936
28,090
52
-
330
808
18,318
28,898

The average monthly head count was 2 staff (2024: 2 staff).

No employee received remuneration of more than £60,000 in the period (2024: none).

Key management personnel

The key management personnel of the charity is considered to be the CEO. The total costs to the charity of employee benefits (including employer national insurance and employer pension) for the key management personnel were £6,128 (2024: £6,128).

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension costs charge for the year represents contributions payable by the company to the scheme. Contributions totalling £250 (2024: £89) were payable to the scheme at the end of the year and are included in creditors.

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

Trustee remuneration and expenses

No remuneration, expenses or other benefits from the charity were received by any trustees during the year (2024: none).

10 Tangible fixed assets

Cost Motor
Vehicles
£		 Equipment
Total
£
£
At 1 April 2024
Additions		 47,363
-		 23,710
71,073
-
-
At 31 March 2025
Depreciation		 47,363 23,710
71,073
At 1 April 2024
Charge for the year		 30,971
6,394		 16,664
47,635
7,016
13,410
At 31 March 2025 37,365 23,680
61,045
Net book value
At 31 March 2025
At 31 March 2024		 9,998
16,392		 30
10,028
7,046
23,438

11 Stocks

Finished goods and goods for resale 2025
2024
£
£
-
3,400
-
3,400

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

12 Debtors

----- Start of picture text -----
2025 2024
£ £
Other debtors - 465
-
Prepayments and accrued income 58,482
-
58,947
----- End of picture text -----

13 Creditors: Amounts falling due within one year

----- Start of picture text -----
2025 2024
£ £
Trade creditors 400 -
Accruals and deferred income 6,975 14,250
Taxation and social security 2,764 89
10,139 14,339
----- End of picture text -----

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

14 Summary of movement in funds

----- Start of picture text -----
Opening Closing
Balance Transfers & Balance
1 Apr 2024 Income Expenditure gains/(losses) 31 Mar 2025
£ £ £ £ £
Restricted funds
CAF Grant 11,881 - (11,881) - -
- -
Southern De Play 4,011 (4,011)
- - -
Sloth crossing (inc bridges) 26,061 (26,061)
Education - 76 (76) - -
Research - 291 (291) - -
Save an acre - 1,066 - - 1,066
- - -
Planting trees 4,785 (4,785)
Urban sloth project - 409 (409) - -
Play for Nature - 836 (836) - -
Hertfordshire Zoo - 3,500 (3,500) - -
Wildlife Connections - 80,053 (80,053) - -
Total restricted funds 11,881 121,088 (131,903) - 1,066
Unrestricted funds
General fund 121,932 322,705 (278,760) - 165,877
Total unrestricted funds 121,932 322,705 (278,760) - 165,877
Total funds 133,813 443,793 (410,663) - 166,943
----- End of picture text -----

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

Summary of movement in funds- 2024

----- Start of picture text -----
Opening Closing
Balance Transfers & Balance
1 Apr 2023 Income Expenditure gains/(losses) 31 Mar 2024
£ £ £ £ £
Restricted funds
CAF Grant (3,864) 15,745 - - 11,881
Connected gardens 380 - (380) - -
- -
Sloth crossing (inc bridges) 3,098 23,980 (27,078)
Oh my dog - 653 (653) - -
Education - 100 (100) - -
Research - 679 (679) - -
- - -
Giving Tuesday 1,892 (1,892)
Join VIP - 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) - -
Total restricted funds 9,739 59,432 (57,290) - 11,881
Unrestricted funds
General fund 55,723 324,941 (258,732) - 121,932
Total unrestricted funds 55,723 324,941 (258,732) - 121,932
Total funds 65,462 384,373 (316,022) - 133,813
----- End of picture text -----

General funds represents unrestricted funds.

Restricted funds comprise monies donated for a specific project or purpose and represent monies received for:

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The Sloth Conservation Foundation Notes to the Financial Statements For the Year Ended 31 March 2025

15 Analysis of assets between funds

----- Start of picture text -----
Total
Unrestricted Restricted funds
funds funds 2025
£ £ £
-
Tangible assets 10,028 10,028
Current assets 165,988 1,066 167,054
Current liabilities (10,139) - (10,139)
165,877 1,066 166,943
Analysis of assets between funds- 2024
Total
Unrestricted Restricted funds
funds funds 2024
£ £ £
-
Tangible assets 23,438 23,438
Current assets 112,833 11,881 124,714
Current liabilities (14,339) - (14,339)
121,932 11,881 133,813
----- End of picture text -----

16 Related party transactions

During the year, trustees donated £11,451 (2024: £11,592) to the charity, with no restrictions or conditions imposed.

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