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2025-05-31-accounts

Company registration number: CE016719 Charity registration number: 1182314

Underdog International

(Charitable Incorporated Organization) Annual Report and Financial Statements

for the Year Ended 31 May 2025

Lionel Pereira & Co Chartered Accountant and Business Advisors 9 Oxford Avenue Southgate London N14 5AF

Underdog International

Contents

Page
Reference and Administrative Details 1
Trustees' Report 2 - 6
Statement of Trustees' Responsibilities 7
Independent Examiner's report 8
Statement of Financial Activities 9
Balance Sheet 10-11
Notes to the Financial Statements 12- 18

Underdog International

Reference and Administrative Details

Chairman Nadine Kayser Trustees M/s Alicia Wiltshire M/s Melanie Browne Principal Office International House 66 Lavender Hill London SW11 5RQ Company registration number CE016719 (The charity is incorporated in England) Charity registration number 1182314 Independent Examiner Lionel Pereira and Company Chartered Accountants 9 Oxford Avenue Southgate London N14 5AF

1

Underdog International

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended Ended 31 May 2025

Objectives, strategies and activities

The income and assets of the charity are applied solely towards the promotion of its objects as set out in the Articles of Association. In summary, these are;

The purpose/objects of the charity are to make grants to further the following charitable purposes for the public benefit:

  1. To relieve the needs of people who may benefit from animal-assisted therapy, involving handling and interaction with animals, in particular to assist children with special needs to help them benefit physically, intellectually and emotionally;

  2. To promote humane behaviour towards animals, in particular but not limited to dogs, by providing appropriate care, protection, treatment and security for such animals, which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage by supporting rescue and adoption projects;

  3. To advance in life and relieve needs of young people by providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals, using animals to teach them kindness, companionship, compassion and confidence, while

helping them to learn best practice animal-welfare.

Nothing in this constitution shall authorise an application of the property of the charity for the purposes which are not charitable in accordance with the 2011 charities act of England

Activities during FY2024/25

In our fifth year of operation, our charity has continued to flourish, with growth and impact, particularly in the realms of education and therapy. Our guiding principle remains:

Children helping dogs. Dogs helping children.

We believe that fostering positive relationships between children and animals builds empathy, emotional resilience and long-term behavioural change. Through this dual impact model, we support vulnerable dogs while also improving outcomes for children in the UK and internationally.

Our work is delivered across three core areas:

The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives and in planning activities for the year.

2

Achievements and performance

Therapy dogs and children’s wellbeing

During the year, we continued to expand our therapy dog presence within UK schools and SEND settings. Evidence increasingly supports the effectiveness of structured animal-assisted interventions in reducing anxiety, improving emotional regulation and increasing engagement in learning Across the UK, our therapy sessions supported children experiencing:

We also maintained international comfort dog programmes, including trauma-informed work in Uganda and support in Romania and Cyprus

Education and youth outreach

Our wider education initiatives, including the Great British Bark Off, continued to reach schools across the UK. The Great British Bark Off has now engaged more than 500,000 children nationally

Internationally, we continued partnerships in Uganda, Cyprus and Romania to deliver culturally sensitive dog welfare and compassion-based education programmes

Our education strategy recognises that long-term animal welfare improvement depends on shaping attitudes and behaviours in younger generations.

Rescue and adoption

We maintained our rescue and rehoming partnerships across Europe and beyond.

The trustees remain committed to responsible rehoming practices, prioritising behavioural assessment, appropriate matching and adopter support.

Adoption continues to serve two connected purposes:

Volunteer engagement and overseas programmes

The charity delivered structured overseas volunteer programmes in Cyprus during the year.

These trips combine education, practical shelter support and safeguarding-led volunteer training. Updated risk assessments, safeguarding documentation and structured briefings were implemented during 2025 The programme includes:

3

These trips serve both an educational purpose and strengthen international shelter partnerships.

Strategic development

Underdog International was founded in 2019 with an ambition to positively impact one million children and dogs by 2025.

Following significant progress, the charity adopted a new strategic ambition: to positively impact two million children and dogs by 2030

During the year, trustees continued to refine the charity’s strategic positioning, focusing on:

The trustees recognise the increasing demand for mental health and emotional regulation support in schools and the role therapy dogs can play as a complementary intervention.

Financial review

The detailed financial position for the year ended 31 May 2025 is set out in the accounts prepared by the charity’s independent accountant.

Income sources continue to include:

The trustees continue to prioritise careful cost management, transparency and reinvestment of funds into frontline programme delivery.

Reserves are maintained at a prudent level to ensure operational continuity and responsible risk management.

Governance and structure

Underdog International is governed by a board of trustees who meet regularly to review strategy, safeguarding, financial performance and operational delivery.

The charity operates with a small core team supported by volunteers across the UK and internationally. Safeguarding remains a central governance priority. All volunteers working with children or vulnerable groups are required to adhere to the charity’s safeguarding policy and relevant compliance procedures

4

Future plans

For the coming year, trustees have agreed to focus on:

The trustees remain committed to steady, well-governed growth rather than rapid expansion.

Statement from the trustees

The trustees are satisfied with the charity’s progress during the year ended 31 May 2025.

In a world where children face increasing emotional and social pressures, and where stray dog populations remain a serious welfare concern in many regions, the charity’s dual-impact model remains both relevant and necessary.

Underdog International continues to act as a platform where compassion is practised, not just discussed.

Children helping dogs. Dogs helping children.

5

Underdog International

Trustees' Report (continued)

Statement of Public Benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management

Objectives and policies

The charity's activities mitigate as far as possible financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables.

The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash-flows.

The charity has no significant concentration of credit risk.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity hold a sufficient mixture cash balance in instant access and call deposit accounts with reputable UK financial institutes.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statement.

The annual report was approved by the trustees of the charity on 28/2/2026 and signed on its behalf by:

___ Nadine Kayser Chairman and Trustee 28/02/2026

6

Underdog International

Statement of Trustees' Responsibilities

The trustees (as the directors of Underdog International for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

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

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

Approved by the trustees of the charity on 28/2/2026 and signed on its behalf by:

___ Nadine Kayser Chairman and Trustee 28/02/26

7

Underdog International Independent Examiner's report to the Trustees for the Year Ended 31 May 2025

I report to the charity trustees on my examination of the accounts of the charity for the year ended Ended 31 May 2025 which are set out on pages 9 to 18.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Underdog International (as its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Underdog International are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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

  1. accounting records were not kept in respect of Underdog International as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

Lionel Pereira and Company Chartered Accountants 9 Oxford Avenue Southgate London N14 5AF 28/02/2026

8

Underdog International

Statement of Financial Activities for the Year Ended 31 May 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Notes
Income and Endowments from:
Charitable activities
3
Investment income
4
Total income
Expenditure on:
Charitable activities
5
Governance
5
Total expenditure
Net movement in funds
Recompilation of funds
Total funds brought forward
Release of restricted funds
Total funds carried forward		 Unrestricted
funds
£
162,731
5,014
167,745
201,701
4,024
205,725
(37,980)
222,183
-
184,202		 Total
Total
2025
2024
£
£
162,731
202,729
5,014
-
167,745
202,729
201,701
254,324
4,024
3,235
205,725
257,559
(37,980)
(54,830)
222,183
277,012
-
-
184,202
222,183

All of the charity's activities derive from continuing operations during the above period. The funds breakdown is shown in note 10.

The notes form part of these financial statements

9

Underdog International

(Registration number: CE016719) Balance Sheet as at Ended 31 May 2025

Unrestricted
funds
Notes
£
Fixed Assets
Tangible assets
-
Current Assets
Debtors(HMRC Gift Aid)
8
19,156
Cash at bank and in hand
166,191
185,347
Creditors
Amounts falling due within
one year
9
(1,145)
Net current asset
184,202
Total asset less current
- liabilities
184,202
Net Asset
184,202
Funds
Unrestricted funds
Designated funds
Restricted funds
Total funds
10		 Restricted
funds
£
-
-
-
-
-
-
-
-		 Total
Total
2025
2024
£
£
-
-
19,156
17,587
166,191
213,913
185,347
231,500
(1,145)
(9,318)
184,202
222,182
184,202
222,182
184,202
222,182
184,202
222,182
-
-
-
-
184,202
222,182

The notes form part of these financial statements

10

Underdog International

Charity registration number:1182314 Balance Sheet as at Ended 31 May 2025 (continued)

For the financial year ending Ended 31 May 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 9 to 18 were approved by the trustees, and authorised for issue on 9/12/2024 and signed on their behalf by:

___ Nadine Kayser Chairman and Trustee 28/02/2026

11

Underdog International

Notes to the Financial Statements for the year ended 31/05/2025

1. Charity status

The charity is a charitable incorporated organisation in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: International House 66 Lavender Hill London

SW11 5RQ

These financial statements were authorised for issue by the trustees on 1/12/2022.

2. Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Underground International 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

12

Underdog International

Notes to the Financial Statements for the year ended 31/05/2025

Income and endowments

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

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees’ meetings and reimbursed expenses.

Tangible fixed assets

Individual fixed assets costing £1,000.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

13

Underdog International

Notes to the Financial Statements for the year ended 31/05/2025

Taxation

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

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Plant & machinery Over four years Fixtures, fittings & equipment Over four years

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank, on hand and call deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trusties' discretion in furtherance of the objectives of the charity.

14

Underdog International

Notes to the Financial Statements for the year ended 31 May 2025

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial ability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

15

Underdog International

Notes to the Financial Statements for the year ended 31/5/2025

3.
Income from charitable activities
Membership subscriptions and Donations
Just Giving
Bank interest
Grants		 2025
2024
£
£
157,092
164,777
5,639
13,229
5,014
-
24,724
167,745
202,729
4. Investment income
All of the charity's investment income arise from money held in interest bearing bank
accounts.
5. Expenditure on charitable activities 2025
2024
Direct costs £
£
Shelter support incl. food, bedding etc 1,571
12,042
Dog Transport 55,088
63,758
Microchips 403
670
International Projects 48,594
77,474
Veterinary Costs 2,078
7,631
107,734
161,575
Support costs
Staff costs 62,431
67,373
Advertising 13,476
6,800
Travelling 5,151
5,713
Insurance 2,479
2,434
Office expense 2,879
6,608
Computer 7,551
3,821
93,967
92,749
Governance
Accountancy services 1,910
1,760
Independent Accountant Examiner Fee 550
550
Legal Fees 1,039
306
Bank charges and Commission 525
618
4,024
3,234
205,725
257,559

16

Underdog International

Notes to the Financial Statements for the year ended 31/05/2025

6. Net incoming/outgoing resources 2025 2024
£ £
Net resources are stated after charging/(crediting):
Independent examiner's fee 550 550

7. Staff costs

The average number of employee during the year was 3 No trustees received remuneration during the year

17

Underdog International

Notes to the Financial Statements for the year ended 31/05/2025

8.
Debtors: Amounts falling due within one year
Tax Recoverable
9.
Creditors: Amounts falling due within one year
Taxation and social security
Accruals and deferred income
10.
Movement in funds
Balance at
Incoming
Outgoing
01/6/2024
resources
resources
£
£
£
Unrestricted funds
General fund
222,182
167,745
(205,725)
Designated fund
-
-
222,182
167,745
(205,725)
Restricted funds
-
-
-		 2025
2024
£
£
19,156
17,587
19,156
17,587
2025
2024
£
£
535
5,380
610
3,938
1,145
9,318
Balance at
Balance at
31/05/2025
31/05/2024
£
£
184,202
222,182
-
-
184,202
222,182
-
-

18