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2024-12-31-accounts

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

Registered number: 13931696 Charity number: 1200949

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS

(A company limited by guarantee)

UNAUDITED

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

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 8
Independent examiner's report 9 - 10
Statement of financial activities 11
Balance sheet 12 - 13
Notes to the financial statements 14 - 28

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

Trustees The Countess Sara Lucille Bathurst
Nigel Batchelor
Jill Bradley
Graham Coxell
Jane Muller
Neil Odin
Company registered
number
13931696
Charity registered
number
1200949
Registered office
Bathurst Estate Office
Cirencester Park
Cirencester
Gloucestershire
GL7 2BU
Independent examiner
David Sedgwick FCCA CTA
Saffery LLP
St Catherine's Court
Berkeley Place
Clifton
Bristol
BS8 1BQ
Bankers
Lloyds Bank
98 Victoria Street
London
SW1E 5JL

Page 1

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Aims and objectives

The National Foundation for Retired Service Animals (NFRSA) is registered with the Charity Commission in England and Wales (no. 1200949) and is constituted as a company limited by guarantee, incorporated on 22 February 2022, and governed by its Memorandum and Articles of Association.

The charity's purpose, as set out in its governing documents, is to relieve the suffering of retired service animals in need of care and attention due to sickness, poor circumstance, or welfare, by providing financial assistance to their owners.

The NFRSA fulfils this purpose by offering grants to assist with the medical and veterinary needs of retired dogs and horses from the Police, Border Force, Prison, Fire & Rescue, NHS, National Crime Agency and MOD Police services.

b. Public Benefit Statement

In setting objectives and planning for activities, The Trustees confirm that they have complied with the Charities Act 2011 and have had due regard to the Charity Commission's guidance on public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

The principal areas of public benefit are focused on supporting the owners of retired service animals and the charity provides financial grants — considered gifts, never to be repaid — to cover emergency and ongoing veterinary treatment. This relieves the financial hardship faced by owners and helps alleviate associated stress and mental health challenges.

The NFRSA also provides one-to-one welfare support to owners at times of great emotional strain, ensuring that both the owner and animal receive care and compassion at every stage.

Page 2

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

Objectives and activities (continued)

c. Grant-making process and impact

At the heart of our mission is the financial support we provide through grants. When a retired service animal requires urgent treatment or medical attention, the owner can submit an application that our Grants Panel promptly reviews.

The Panel comprises Trustees, members of the Management Committee, and two senior independent veterinarians, ensuring full and fair consideration.

Decisions are typically made within fourteen days, enabling us to act promptly and alleviate unnecessary stress for owners. Very rarely is an application declined, and in 2024, we supported up to 90% of each claim, depending on the length of service.

In total, £64,656 was awarded in grants in 2024 (2023: £37,482), enabling owners to secure vital treatment and care for their retired companions.

d. Principal Funding Sources

Our income in 2024 totaled £358,582 (2023: £199,632), of which £322,560 came from donations and legacies, and £36,022 from fundraising events and merchandise sales.

This represents a year-on-year increase of approximately 79%, reflecting the growing awareness of the charity and the generosity of our supporters.

Funding streams include individual and corporate donations, sponsorship, legacies, and in-kind contributions of time and resources. We are deeply grateful to the Julia Rausing Trust for their generous support in 2024, which has been instrumental in furthering our mission.

Events and merchandise sales continue to generate additional revenue and enhance brand awareness, while corporate partnerships and trust funding are being actively developed to ensure long-term sustainability.

Page 3

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

Achievements and performance

a. Achievements and performance

In 2024, the NFRSA continued to grow and strengthen its national presence. Key achievements included:

Integration of Local Charities

We proudly adopted five long-established local charities from the following forces: Cleveland, Greater Manchester, Gwent, Devon and Cornwall/Dorset and West Midlands. These organisations were founded and run by volunteers, many of whom continue to serve within the police and related services. Their dedicated work has provided invaluable support for retired service animals within their regions.

Funds transferred to the NFRSA were ring-fenced as restricted funds, ensuring continuity of service in those areas. We continue to work closely with the original volunteers, honouring their legacy and expanding our collective reach.

Events and Promotion of the Charity

Our 2024 events programme was one of our busiest yet, and a key driver of fundraising, awareness, and supporter engagement. Two of the most significant four-day events were Crufts and the Argia Royal International Hickstead Horse Show, both of which provided unrivalled opportunities to meet the public and share our mission.

In addition, we had a presence at the Cotswold Show, DogFest, and Woofstock, each adding to our profile and fundraising efforts.

A particular highlight was the release of Pedals and Paws, an Amazon documentary charting our Chair, The Countess Bathurst's cycle ride from John O'Groats to Land's End. Produced voluntarily by Tom Wakefield of Cotswold TV, the film has become both an inspiring record of our work and a valuable fundraising tool.

Employment and Professional Growth

With the generous support of a Julia Rausing Trust grant, we were able to employ our first permanent member of staff, an Operations Manager. This role, working closely with The Countess Bathurst, has transformed the day-to-day running of the charity, ensuring professional oversight and consistent delivery of our mission.

We look forward to welcoming an apprentice, to further strengthen our capacity. Together, they support our three core goals: fundraising, promotion, and the efficient and compassionate processing of grants.

One early outcome of this increased capacity was the expansion and encouragement of our first regional committee in the Southwest, focused on fundraising and promotion. This model will be expanded with additional NFRSA Hubs across the UK.

Page 4

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

Achievements and performance (continued)

b. Economic Context, Volunteers, and Fundraising Development

The Board recognises the economic challenges faced by charities and individuals alike during 2024, with rising costs and increased competition for charitable giving. This makes us even more appreciative of the extraordinary commitment of our volunteers, who give their time, energy, and skills so generously. Their work remains at the heart of the NFRSA, and the Trustees extend their sincere thanks to all who serve our cause with unwavering dedication.

In light of these challenges, the Board has reviewed how best to strengthen the charity's fundraising capability. In 2025/6 we plan to appoint a professional fundraiser whose focus will be securing support from charitable trusts, grant-making bodies, and corporate sponsorships. This will build on the excellent foundations already established by our volunteer teams and ensure that the charity can continue to grow sustainably. In 2024, the Board initiated the development of regional fundraising committees (NFRSA Hubs) to expand the charity's reach and impact.

At the same time, the Trustees reiterate their commitment to keeping overheads to an absolute minimum, ensuring that the vast majority of funds raised are directed to our charitable purpose.

We were especially pleased in 2024 to secure two significant corporate sponsors: Jollyes Pets, the well-known pet retailer, and Paw-Cura, specialists in natural superfoods and treats for dogs. The board is grateful for the ongoing support of the current corporate sponsors such as FireRiskAssessment.Com and Quantock Patterns. Their support not only provides critical financial contributions but also helps to raise awareness of our mission across broader audiences.

Financial review

a. Going concern

The Trustees have a reasonable expectation that the charity has adequate resources to continue operations for the foreseeable future, and for at least twelve months from the date of approving this Report.

In reaching this conclusion, Trustees considered the strong financial position, growing income, and the ongoing support from donors, corporate partners, and events. This, combined with prudent cost management, underpins confidence in the charity's sustainability. In line with our 2023 low risk management strategy, the Board has undertaken a financial and reserves review the results of which are outlined in our plans for 2025.

b. Financial Review and Reserves Policy

At the end of 2024, unrestricted funds carried forward stood at £223,591 (2023: £152,394), and restricted funds at £159,101, bringing total funds to £382,692.

General support costs were kept to just 8% of total income, reflecting our commitment to maximising the funds available for charitable activities.

The Trustees recognise the importance of maintaining prudent reserves to respond to unpredictable grant demand. While a formal reserves target has not yet been set, the Board continues to review this as part of ongoing financial planning.

Page 5

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

c. Risk Management

The Trustees actively review significant risks. As a grant-making charity, the greatest challenge is the unpredictability of demand. Robust reserves and careful financial oversight mitigate this.

The Board also recognises the importance of data in anticipating future demand. By monitoring grant applications and related welfare trends, we aim to build a clearer picture of likely needs, reducing the unpredictability of demand and enabling more accurate financial planning.

We remain committed to diversifying income streams, maintaining strong donor relationships, and ensuring transparency with stakeholders to safeguard the charity's resilience.

Structure, Governance and Management

a. Structure, Governance and Management

The organisation is a charitable company limited by guarantee, incorporated on 22 February 2022 and registered as a charity on 09 November 2022. The company was established under a Memorandum of Association, which outlines the charitable company’s objects and powers, and is governed by its Articles of Association, as amended by a Special Resolution dated 21 October 2022. In the event of the company being wound up, members are required to contribute an amount not exceeding £10

The Board of Trustees provides governance, strategy, and oversight, supported by a management committee of Trustees and volunteers. Trustees are unpaid and bring a wide range of expertise to the charity. Training and development are provided to ensure high standards of governance.

b. Organisational structure and decision-making policies

The Board of Trustees comprises the key management personnel of the charity, responsible for the overall governance, direction, and control of the charity's activities. The Trustees are committed to upholding high standards of governance, ensuring that the charity meets its objectives and operates in compliance with both legal and regulatory requirements. All Trustees contribute their time and expertise voluntarily, with no remuneration paid to any Trustee during the year.

The Trustees meet regularly to review the charity’s operations, financial performance, and strategy. These meetings provide an opportunity to discuss key issues and ensure that the charity is on track to achieve its goals. The Board has also established a management committee, comprising a mix of Trustees and volunteers, to support the operational and day-to-day activities of the charity, ensuring that decisions are implemented efficiently.

The charity’s governance framework is regularly reviewed to ensure it remains fit for purpose, and Trustees undergo regular training and development to stay informed about the latest best practices in charity governance. The charity is also committed to ensuring transparency and accountability in its operations, and the Trustees recognise their responsibility to always act in the best interests of the charity and its beneficiaries. It should be noted that we are registered with the Fundraising Regulator and follow their guidelines.

Looking ahead, the Trustees are considering the expansion of the Board to include individuals with additional skills and expertise to support the growing needs of the charity. This will help ensure the charity continues to operate effectively and deliver on its mission.

Page 6

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

c. Trustees of the Charity

All Trustees also serve as Directors of the company, and there are no additional Directors. The charity can appoint new Trustees through an ordinary resolution, allowing it to determine the rotation for retiring Trustees as needed. The minimum number of Trustees required is three, while no maximum limit has been established under the Articles of Association, providing flexibility for future growth.

The skillset of the Board of Trustees is reviewed at least annually to ensure that the collective expertise aligns with the charity's needs and strategic objectives. This proactive approach enables the Board to identify any skills gaps and recruit new Trustees with the appropriate backgrounds and experiences to enhance the charity’s governance and operational capacity.

Induction and training are provided to all new Trustees by an independent advisor, ensuring they are well informed about their roles and responsibilities. This training includes familiarisation with the charity’s policies, procedures, and governance framework, which are shared comprehensively with all Trustees. Ongoing professional development opportunities are also made available to the Board, helping them stay updated on best practices in charity governance and the specific challenges facing the sector.

The Trustees value diversity and inclusivity within the Board (and the Management Team) and actively seek to represent a range of perspectives and experiences. This commitment not only enriches discussions and decision-making but also reflects the diverse community that the charity serves. The Board is dedicated to maintaining a strong governance structure that supports the charity’s mission and enhances its impact on the lives of retired service animals and their owners.

The Trustees of the charity during the year and up to the date of this Report were as follows.

The Board records its gratitude to all Trustees, past and present, for their contribution to the development of the charity.

Plans for future periods

Looking ahead, the Trustees plan to:

The Trustees remain confident that these plans will further strengthen the NFRSA's ability to support retired service animals and their owners in the years to come.

Page 7

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

Events after the balance sheet date

In accordance with our plans for growth, the NFRSA is delighted to share they have formally adopted the Royal Airforce Police Military Working Dogs into the family, thereby expanding our reach and providing support to a wider community.

Statement of Trustees' responsibilities

The Trustees (who are also the directors for company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give an accurate and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 company 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 corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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

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................................................ The Countess Sara Lucille Bathurst (Trustee) Date: 28 October 2025

Page 8

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Independent Examiner's Report to the Trustees of The National Foundation for Retired Service Animals ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

Responsibilities and Basis of Report

As the Trustees of the Company (and 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 the Company 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 the Company's accounts 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

Since the Company'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 Association of Chartered Certified Accountants, which is one of the listed bodies.

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

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 the Company 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.

Page 9

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Signed: Dated: 28 Oct 2025

David Sedgwick FCCA CTA

Saffery LLP

St Catherine's Court, Berkeley Place, Clifton, Bristol, BS8 1BQ

Page 10

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS

(A company limited by guarantee)

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

Note
Income from:
Donations and legacies
3
Other trading activities
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
136,319
36,022
172,341
32,412
68,732
101,144
71,197
152,394
71,197
223,591		 Restricted
funds
2024
£
186,241
-
186,241
-
27,140
27,140
159,101
-
159,101
159,101		 Total
funds
2024
Total
funds
2023
£
£
322,560
92,164
36,022
107,468
358,582
199,632
32,412
50,254
95,872
65,011
128,284
115,265
230,298
84,367
152,394
68,027
230,298
84,367
382,692
152,394		 Total
funds
2024
Total
funds
2023
£
£
322,560
92,164
36,022
107,468
358,582
199,632
32,412
50,254
95,872
65,011
128,284
115,265
230,298
84,367
152,394
68,027
230,298
84,367
382,692
152,394
199,632
50,254
65,011
115,265
84,367
68,027
84,367
152,394

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 14 to 28 form part of these financial statements.

Page 11

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee) REGISTERED NUMBER: 13931696

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed assets
Intangible assets
12
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 7,314
6,370
373,209
386,893
(12,683)		 2024
£
2,167
6,315
8,482
374,210
382,692
382,692
159,101
223,591
382,692		 2023
£
4,333
6,575
10,908
5,000
5,746
143,047
153,793
(12,307)
141,486
152,394
152,394
-
152,394
152,394		 2023
£
4,333
6,575
10,908
5,000
5,746
143,047
153,793
(12,307)
141,486
152,394
152,394
-
152,394
152,394
10,908
141,486
152,394
152,394
-
152,394
152,394

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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

Page 12

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS

(A company limited by guarantee) REGISTERED NUMBER: 13931696

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

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

The Countess Sara Lucille Bathurst (Trustee) Date: 28 October 2025

The notes on pages 14 to 28 form part of these financial statements.

Page 13

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

1. General information

The National Foundation for Retired Service Animals is a registered company limited by guarantee (no. 13931696) and a registered charity (no. 1200949). The Trustees, as members of the company, would contribute up to £10 each to the company in the event that the company was wound up.

The charity's purpose is to relieve the suffering of retired service animals in need of care and attention for reason of sickness, poor circumstance, or welfare by providing financial assistance to their owners.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The National Foundation for Retired Service Animals 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.

2.2 Income

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

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

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

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

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

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Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

2. Accounting policies (continued)

2.3 Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.4 Intangible assets and amortisation

Intangible assets costing £NIL or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Website development - 33 %

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings - 25% Computer equipment - 33%

2.6 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 15

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

2. Accounting policies (continued)

2.7 Debtors

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

2.8 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.

2.9 Liabilities and provisions

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

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

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

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

2.11 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

2.12 Fund accounting

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

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

Page 16

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

3. Income from donations and legacies

Unrestricted Restricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Corporate donations 17,948 38,850 56,798
Individual donations 118,371 147,391 265,762
136,319 186,241 322,560
Unrestricted Total
funds funds
2023 2023
£ £
Corporate donations 9,602 9,602
Individual donations 82,562 82,562
92,164 92,164
4. Income from other trading activities
Income from fundraising events
Unrestricted Total
funds funds
2024 2024
£ £
Fundraising events 11,985 11,985
Merchandise sales 24,037 24,037
36,022 36,022

Page 17

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

4. Income from other trading activities (continued)

Income from fundraising events (continued)

Unrestricted Total
funds funds
2023 2023
£ £
Fundraising events 94,089 94,089
Merchandise sales 13,379 13,379
107,468 107,468

5. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2024
£
Fundraising events
15,558
Merchandise costs
14,017
Transaction costs
2,837
32,412		 Total
funds
2024
£
15,558
14,017
2,837
32,412

Page 18

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

5. Expenditure on raising funds (continued)

Costs of raising voluntary income (continued)

Unrestricted Total
funds funds
2023 2023
£ £
Fundraising events 38,154 38,154
Merchandise costs 10,515 10,515
Transaction costs 1,585 1,585
50,254 50,254

6. Analysis of grants

Grants to Total
Individuals funds
2024 2024
£ £
Animal welfare 64,656 64,656
Grants to Total
Individuals funds
2023 2023
£ £
Animal welfare 37,482 37,482

Page 19

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted Restricted
funds funds Total
2024 2024 2024
£ £ £
Animal welfare 68,732 27,140 95,872
Unrestricted Restricted
funds funds Total
2023 2023 2023
£ £ £
Animal welfare 58,956 6,055 65,011
Analysis of expenditure by activities
Grant
funding of Support Total
activities costs funds
2024 2024 2024
£ £ £
Animal welfare 64,656 31,216 95,872
Grant
funding of Support Total
activities costs funds
2023 2023 2023
£ £ £
Animal welfare 37,482 27,529 65,011

8. Analysis of expenditure by activities

Page 20

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Animal Animal Total
Welfare funds
2024 2024
£ £
Staff costs 8,836 8,836
Depreciation / amortisation 4,868 4,868
Information technology 1,324 1,324
Phone costs 11 11
Advertising 2,385 2,385
Printing, postage and stationery 921 921
Other support 7,223 7,223
Professional fees 2,288 2,288
Governance costs 3,360 3,360
31,216 31,216
Animal Total
Welfare funds
2023 2023
£ £
Depreciation / amortisation 4,657 4,657
Information technology 2,855 2,855
Advertising 12,600 12,600
Printing, postage and stationery 2,496 2,496
Other support 1,216 1,216
Professional fees 1,965 1,965
Governance costs 1,740 1,740
27,529 27,529

Governance costs for both 2024 and 2023 consist of fees payable to the independent examiner.

Page 21

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

9. Independent examiner's remuneration

2024 2023
£ £
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts 3,360 1,740

10. Staff costs

Wages and salaries
Operating costs of defined contribution pension schemes		 2024 2023
£
£
8,667
-
169
-
8,836
-		 2024 2023
£
£
8,667
-
169
-
8,836
-
-

The average number of persons employed by the Company during the year was as follows:

2024 2023
No. No.
Employees 1 -

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

11. Trustees' remuneration and expenses

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

During the year ended 31 December 2024, £ 4,128 expenses were reimbursed or paid directly to trustees (2023 - £3,739 ).

Page 22

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

12. Intangible assets

Cost
At 1 January 2024
At 31 December 2024
Amortisation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Website
development
£
6,500
6,500
2,167
2,166
4,333
2,167
4,333

13. Tangible fixed assets

Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024		 Fixtures and
fittings
£
6,381
2,442
8,823
1,595
1,807
3,402		 Computer
equipment
£
2,684
-
2,684
895
895
1,790		 Total
£
9,065
2,442
11,507
2,490
2,702
5,192

Page 23

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

13. Tangible fixed assets (continued)

Net book value
At 31 December 2024
At 31 December 2023
14.
Stocks
Merchandise
15.
Debtors
Prepayments and accrued income
16.
Creditors: Amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 Fixtures and
fittings
£
5,421
4,786		 Computer
equipment
£
894
1,789
2024
£
7,314
2024
£
6,370
6,370
2024
£
4,647
4,871
3,165
12,683		 Total
£
6,315
6,575
2023
£
5,000
2023
£
5,746
5,746
2023
£
8,574
211
3,522
12,307

Page 24

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

17. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Greater Manchester Police Retired Police Dog
Fund
Gwent Retired Police Dog Benevolent Fund
Cleveland Retired Police Dog Fund
West Midlands Retired Police Dog Benevolent
Fund
Pawsome Pensions Retired Police and Fire
Dogs Fund
The Julia Rausing Trust
Total of funds		 Balance at 1
January
2024
£
152,394
-
-
-
-
-
-
-
152,394		 Income
£
172,341
16,180
8,775
6,042
29,920
86,474
38,850
186,241
358,582		 Expenditure
£
(101,144)
-
(1,348)
-
(4,216)
(12,741)
(8,835)
(27,140)
(128,284)		 Balance at
31
December
2024
£
223,591
16,180
7,427
6,042
25,704
73,733
30,015
159,101
382,692

Restricted funds comprise of the following:

Greater Manchester Police Retired Police Dog Fund - this fund is for the provision of grants to retired service dogs in Manchester, England

Gwent Retired Police Dog Benevolent Fund - this fund is for the provision of grants to retired service dogs in Gwent, Wales

Cleveland Retired Police Dog Fund - this fund is for the provision of grants to retired service dogs in Cleveland, England

West Midlands Retired Police Dog Benevolent Fund - this fund is for the provision of grants to retired service dogs in the West Midlands, England

Pawsome Pensions Retired Police and Fire Dogs Fund - this fund is for the provision of grants to retired service dogs in Devon & Cornwall and Dorset, and fire dogs in Avon and Somerset, England

The Julia Rausing Trust - this fund is for the provision of an Operations Manager for the Charity

Page 25

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Start up donation
Total of funds
Summary of funds
Summary of funds - current year
General funds
Restricted funds		 Balance at
1 January
2023
£
61,972
6,055
68,027
Balance at 1
January
2024
£
152,394
-
152,394		 Income
£
199,632
-
199,632
Income
£
172,341
186,241
358,582		 Expenditure
£
(109,210)
(6,055)
(115,265)
Expenditure
£
(101,144)
(27,140)
(128,284)		 Balance at
31
December
2023
£
152,394
-
152,394
Balance at
31
December
2024
£
223,591
159,101
382,692

18. Summary of funds Summary of funds - current year

Page 26

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

18. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted funds		 Balance at
1 January
2023
£
61,972
6,055
68,027		 Income
£
199,632
-
199,632		 Expenditure
£
(109,210)
(6,055)
(115,265)		 Balance at
31
December
2023
£
152,394
-
152,394

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
Restricted		 Total
funds
funds		 funds
2024
2024		 2024
£
£		 £
Tangible fixed assets 6,315
-		 6,315
Intangible fixed assets 2,167
-		 2,167
Current assets 226,775
160,118		 386,893
Creditors due within one year (11,666)
(1,017)		 (12,683)
Total 223,591
159,101		 382,692
Analysis of net assets between funds - prior period
Unrestricted
funds Total Funds
2023 2023
£ £
Tangible fixed assets 6,575 6,575
Intangible fixed assets 4,333 4,333
Current assets 153,793 153,793
Creditors due within one year (12,307) (12,307)
Total 152,394 152,394

Page 27

Docusign Envelope ID: 960576B9-B76A-4AB6-BF7F-FBCF0F3801D1

THE NATIONAL FOUNDATION FOR RETIRED SERVICE ANIMALS (A company limited by guarantee)

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

20. Related party transactions

The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 December 2024.

Page 28