2025-12-31-accounts - Happy Doggo

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Happy Doggo

Charity No. 1203875 Company No. CE032890

Year ended 31 December 2025

Report of the Trustees ........................................................................................................ 3 Reference and Administrative Details .............................................................................. 3 Objectives and Activities ................................................................................................. 4 Achievements and Performance...................................................................................... 4 Financial Review ............................................................................................................. 4 Plans for Future Periods .................................................................................................. 8 Structure, Governance, and Management ....................................................................... 9 .......................................................................................... 12 Consolidated Statement of Financial Activities .............................................................. 16 Consolidated Balance Sheet ............................................................................................ 17 Charity Balance Sheet ...................................................................................................... 18 Consolidated Statement of Cash Flows .......................................................................... 19 Notes to the Cash Flow Statement .................................................................................. 20 Notes to the Accounts ...................................................................................................... 21 1 Income from donations and legacies .................................................................... 24 2 Income from investments ...................................................................................... 24 3 Trading activities................................................................................................... 24 4 Other income ........................................................................................................ 24 5 Expenditure on raising funds ................................................................................ 25 6 Expenditure on charitable activities....................................................................... 25 7 Analysis of grants ................................................................................................. 26 8 Other expenditure ................................................................................................. 27 .......................................................................................... 27 10 Trustee remuneration and expenses .................................................................. 27 11 Staff costs........................................................................................................... 28 12 Corporation tax ................................................................................................... 28 13 Tangible fixed assets .......................................................................................... 29 14 Charity Investments ............................................................................................ 29 15 Consolidated Debtors ......................................................................................... 30 16 Current Investments ........................................................................................... 30 17 Consolidated creditors ........................................................................................ 31 18 Movement in funds ............................................................................................. 31 19 Analysis of net assets between funds ................................................................. 32 20 Analysis of cash and cash equivalents ............................................................... 32 21 Related party disclosures ................................................................................... 32 22 Prior year Consolidated Statement of Financial Activities ................................... 34

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

Report of the Trustees

Reference and Administrative Details

Entity Type : Charitable Incorporated Organisation (CIO) Company Number: CE032890 Charity Number: 1203875 Subsidiary (Happy Doggo Trading Ltd.) Company Number: 15027127

Principal Office:

2 Putney Hill London, UK SW15 6AB

Registered Office of Happy Doggo CIO

2 Putney Hill London, UK SW15 6AB

Registered Office of Happy Doggo Trading Ltd.

36 Litchfield Way London, UK NW11 6NJ

Trustees

The following Trustees of the Charitable Incorporated Organisation (CIO) served during the year:

Stefan Bender Tayla-Blue Watts Christopher Reynolds

Appointments after the year end:

Anna Sedgley was appointed as a Trustee on 1 January 2026 Lindsay Angus was appointed as a Trustee on 1 May 2026

Other Officers

Niall Harbison, CEO Anna Sedgley, CFO to 7 September 2025 Isobel Sharkey, CFO from 8 September 2025 Lindsay Angus, COO to 30 April 2026

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

Auditor

Saffery LLP 71 Queen Victoria Street London EC4V 4BE

The Trustees of Happy Doggo CIO present their annual report and financial statements for the year ended 31 December 2025. The financial statements have been prepared in Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard (FRS 102). The legal and administrative information on page 3 forms part of this report. The financial statements cover the 12-month period ended 31 December 2025. The comparative figures cover the first period of operation, being the period from 6 July 2023 to 31 December 2024, and therefore not directly comparable.

Objectives and Activities

The objects of the CIO are to relieve the suffering of stray dogs in need of care and attention particularly in Thailand for the public benefit, including by providing assessment and medical care to animals in need of such attention and the provision of mobile sterilisation, vaccination and treatment clinics, to reduce the stray animal population and prevent the spread of rabies and other contagious diseases.

The Trustees confirm that they have complied with the duty in section 17(5) of the 2011 Charities Act. The Trustees have had regard to Charity Commission guidance on public benefit.

Achievements and Performance

2025 Programme Achievements

45,767 sterilisations funded through grant programmes within Thailand, Indonesia, and Sri Lanka
Medical treatment for over 100 dogs provided at Happy Doggo Land and over 40 dogs rehomed in Thailand or abroad
On-site kitchen opened and 30,400kg of freshly made dog food produced and distributed to street dogs on Koh Samui, Thailand
Happy Doggo Mobile Sterilisation programme launched in December 2025

Financial Review

Financial Performance

Total income for the year under review was £2,836,484 (2024: £2,730,049), of which £180,849 (2024: £250,259) was restricted. Total expenditure amounted to £2,677,362 (2024: £1,925,155), of which £236,674 (2024: £855) was restricted. After a corporation tax charge of £4,634 (2024: £nil), the charity reported a net surplus of £154,488 (2024: £804,894).

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

Fundraising

The principal fundraising source for the charity is individual donations via online fundraising. The charity leverages social media to drive donations, and with over 4 million followers across all social media channels, the charity has a strong and engaged global audience.

Material Fundraising

The charity raised over £2,000,000 in online donations in 2025
The charity received £25,000 as a one-time gift from The Danson Foundation The charity received £179,682 in donations from Niall Harbison

Significant External Risks

The charity maintains and regularly reviews a risk register. The most significant external risk that the charity has identified is the nature of its digital fundraising, with most donations generated through online engagement and social media channels. As a result, income generation is partly dependent on the continued effectiveness and availability of third-party digital platforms. The Trustees monitor this concentration risk and seek to diversify fundraising channels where appropriate. In addition to the above, the charity is monitoring the following risks:

Inflation & Interest Rates: Higher raw materials costs could drive up the cost of grants to external partners. The charity manages this risk by renegotiating grant terms on an annual basis.
Foreign Exchange Risk: Currency fluctuations between GBP and local currencies (including THB) may reduce the value of funds available for grants and affect budgeting certainty. The charity manages this risk by monitoring currency fluctuations and adjusting the timing of grant payments to take advantage of favourable exchange rates, where possible.
Recession Fears: Economic uncertainty can make donors more hesitant to commit to large donations. The charity manages this risk by focusing on online communitybuilding and securing a high volume of lower value donations.

Reserves Policy

Happy Doggo aims to maintain a general reserve of unrestricted funds sufficient to meet its financial, legal and moral obligations to the dogs we help, our donors wishes, employees and all relevant authorities. These general reserves allow us to plan for expansion and deal with any 'bumps in the road', such as sudden and unexpected reductions in income or large items of expenditure that were not budgeted for. The Trustees agree a target level for the general reserve and this is reassessed regularly.

Happy Doggo is a young organisation and the Trustees consider the balance between retaining sufficient reserves for strategic expansion while ensuring we are resourced to immediately reduce suffering in the locations where we provide grants. It is the policy of the charity that funds should be maintained at a level equivalent to between three and six s we hold approximately four months in reserve, a portion of

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

At the close of 2025, the charity holds in reserve £959,382, £193,579 of which is restricted This is an increase from the reserves of £804,894 held at the end of 2024

Main Funding Sources

Happy Doggo raises funds primarily through digital content created by our in-house team, published across Instagram, YouTube, Facebook, and TikTok. Our content documents the charity's animal welfare programmes in Thailand, including our animal hospitals, adoption programme, and community education initiatives, and invites supporters to donate online in response to that content. All fundraising activities are carried out directly by employees of the charity. No professional fundraisers, commercial participators, or third-party fundraising organisations were engaged during the year.

Voluntary regulation

Happy Doggo is not currently registered with the Fundraising Regulator and is not subject to any other voluntary scheme or standard for regulating fundraising. Neither the charity nor any person acting on its behalf is bound by any voluntary fundraising undertaking. We are committed to conducting our fundraising in line with the principles of the Code of Fundraising Practice and use the Code to inform our internal policies and the training of staff involved in fundraising activities.

Compliance

There were no failures to comply with any voluntary fundraising scheme or standard during the year.

Monitoring of fundraising activities

Supporters of Happy Doggo occasionally fundraise independently on the charity's behalf through JustGiving, with all funds donated directly to Happy Doggo. In these instances, a member of the charity's staff personally contacts every individual fundraiser to offer guidance and support, ensuring that fundraising carried out on the charity's behalf meets our standards and reflects our values. No other third-party fundraising agencies, commercial participators, or paid external fundraisers are engaged. The Trustees oversee fundraising activity directly, and the Donor Relations Manager is responsible for ensuring that all fundraising activity whether by staff or supporters complies with the charity's internal policies and applicable standards. Employed staff are managed through normal line management and performance review processes.

Fundraising complaints

No fundraising complaints were received during the year. All complaints are recorded and reviewed by the CFO and any lessons learned are fed back into our content and fundraising practices. We are committed to responding to supporters promptly and taking all feedback seriously.

Protection of vulnerable people

Happy Doggo is mindful that our digital content reaches a broad and diverse audience, including people who may be in vulnerable circumstances. Our fundraising approach is nonpressurised: we share the story of our work without any specific requests for financial support and encourage supporters to like or share our content as a means of support.

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

We do not use retargeting or automated follow-up campaigns designed to repeatedly solicit individuals who have not donated.
Our content is reviewed before publication to ensure it is honest, dignified, and does not exploit distressing imagery of animals or people in a way that could cause undue distress or apply undue pressure.
Staff involved in creating fundraising content receive guidance on the charity's standards for ethical communications and on recognising and responding appropriately to supporters who may be in vulnerable circumstances.

Material Expenditure

The charity issued grants totaling £1,882,585 (2024: £1,471,048) to 12 organisations across Thailand, Sri Lanka, and Indonesia for the purposes of Catch, Neuter, Vaccinate and Return (CNVR) programmes and medical care for street dogs.

Material Committed Expenditure

The charity has executed MOUs (Memorandum of Understanding) that pledge approximately £1,880,000 in annual funding for CNVR grant programmes in Thailand, Indonesia, and Sri Lanka in 2026. The charity has committed approximately £195,000 towards the construction reserves and forecasted donations in 2026.

Grantmaking Policy

The Trustees apply the funds of the Charity at their discretion and in accordance with the charitable objects of the Charity. The amount of work or number of projects that can be supported by the Trustees is necessarily limited to the amount of funds that are available set out below:

The Trustees have decided that grant funding should be allocated as follows:

though this may be reviewed and updated in future;
Grant funding provided by the Charity will primarily be focussed on the CNVR method of population management, excluding any capital grants made;
The remaining grant funding the Charity provides shall be focussed on other activities feeding of stray animals; or educational initiatives relating to animal welfare and population management.

In awarding grants, the Trustees will apply the following principles:

The Trustees will consider any requests or known projects that are eligible for consideration.

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

Each request or project will be considered on its own merits. The Trustees will take into account the advice of any contacts working for existing registered charities with expertise in the relevant areas. Where projects have been previously considered (whether successful or not) any due diligence undertaken to reach an earlier decision will be considered by the Trustees.
The Trustees will carry out sufficient due diligence to ensure that the request or project meets both the charitable purposes, and the priorities for support set out in

All grant proposals must be made in writing. Proposals must explain in detail how the grant will be used and put forward a strong case for support. In particular, a proposal must:

Demonstrate how the activities funded by the grant will benefit the intended beneficiaries and advance one or more of the funding priorities;
Set out how use of the grant will be managed;
Give details of the key individual(s) who will be responsible for the management of the grant and delivering the proposed activities;
Provide a budget for the proposed activities;
Give details of any other funding that has been awarded or that is being sought for the activities to be funded by the grant; and
Commit to providing timely monitoring reports and supporting information demonstrating that grant-funded activities have been delivered, enabling the charity to monitor the use of funds and the achievement of agreed outcomes.

Volunteers

The Board of Trustees offered their services to the charity voluntarily and there was no remuneration or expense reimbursement paid to Trustees in 2025. Niall Harbison does not receive any compensation for his work as CEO. The charity did not make use of any other volunteers in 2025.

Plans for Future Periods

CNVR

The charity will continue to focus the majority of its expenditure on CNVR programmes to materially reduce stray dog populations in areas served. In addition to the MoU commitments above, the charity will launch its own mobile sterilisation units in North Western Thailand in 2026. Each unit will comprise 10 employees and aim to sterilise and vaccinate approximately 520 dogs per month.

Education

In conjunction with CNVR, the charity will be expanding its national education program to provide educational content in Thai. The aims of the charity's education program are threefold:

To increase community support for sterilisation and vaccination
To increase community knowledge around dog welfare
To increase awareness of and provide access to free dog welfare services

Report of the Trustees for the year ended 31 December 2025

Happy Doggo CIO

In 2026, the charity aims to complete construction on Tina's Hospital a full-service hospital on Koh Samui, exclusively dedicated to treating stray and community dogs.

Structure, Governance, and Management

Organisational Structure

Happy Doggo is a Charitable Incorporated Organisation (CIO) registered in England and Wales. The charity is the sole member of a trading subsidiary, Happy Doggo Trading Ltd, which undertakes commercial activities in support of the charity's objectives, with any net profits gift-aided to the charity. The consolidated accounts of the charity and its subsidiary are presented together in these financial statements.

The charity maintains close relationships with other organisations operating under the Happy Doggo name in support of its mission. These relationships facilitate the sharing of expertise, resources and best practice, enabling the charity to maximise its impact. Certain services, including administrative, finance and operational support, may be provided between these entities under agreed arrangements. The charity remains responsible for its own governance, financial management and strategic direction, and Trustees ensure that all transactions with connected parties are conducted on an arm's-length basis and in furtherance of the charity's charitable objectives.

The charity's Trustees are collectively responsible for the strategic direction and governance of the organisation. Day-to-day operational management is carried out by the executive team, led by the CEO.

Decision-making

The charity has executed a formal scheme of delegation that sets out the financial limits within which executive staff may act independently and the matters that require Trustee approval. Material financial commitments, significant contracts, and all material grant funding decisions are reserved to the Board of Trustees. Within the limits set by the scheme of delegation, the executive team has authority to manage operations, enter into routine contracts, and make staffing decisions without prior board approval. The scheme of delegation is reviewed periodically to ensure it remains appropriate to the charity's scale and activities.

Induction and training of Trustees

The charity maintains a dedicated internal knowledge base to support the induction of new Trustees, providing structured guidance on the charity's governance framework, programmes, financial position, and legal obligations. New Trustees are expected to complete this induction on appointment. The Board reviews its approach to Trustee development on an ongoing basis and encourages Trustees to undertake relevant external training where appropriate.

Remuneration of key management personnel

All hiring decisions and the setting of staff remuneration are the responsibility of the

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

executive team. Staff pay is determined by reference to a global salary framework, benchmarked against relevant market data, to ensure that remuneration is fair, competitive, and appropriate to the charity's resources. The remuneration of the executive team, including the CEO, is reviewed and approved by the Trustees, who satisfy themselves that it is reasonable and proportionate to the responsibilities of the role and the charity's financial position.

Governing Document

The Charity is governed in accordance with its Constitution, dated 29 June 2023.

Recruitment of Trustees

Apart from the first Trustees, every Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Trustees or in writing. In selecting individuals for appointment as Trustees, the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. All Trustees are provided with official guidance from the Charity Commission to educate them on their roles and responsibilities as Trustees.

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and apply them consistently; Observe the methods and principles in the Charities SORP;
Make judgments and accounting estimates that are reasonable and prudent; State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.

The Trustees are responsible for keeping sufficient accounting records that 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. 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.

Website Responsibilities

The Charity relies on its website for the following purposes:

Happy Doggo CIO

Report of the Trustees for the year ended 31 December 2025

Accepting online donations
Providing secure, user-friendly donation options (one-time, recurring, Gift Aid) Explaining how donations are used and their impact
Communicating the vision, mission, and value of the organisation
Sharing informational content to educate people about the primary issues facing street dogs
Sharing blog posts or press releases about the charity's activities
Providing answers to commonly asked questions Providing links to relevant press or media articles Accepting applications for adoptions of dogs Accepting applications for job opportunities

The Trustees are responsible for the maintenance and integrity of the corporate 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.

Statement of Disclosure of Information to the Auditor

So far as the Trustees are aware, there is no relevant audit information of which the charity's auditors are unaware and each Trustee has taken all the steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant information and to establish that the charity's auditors are aware of that information.

The above report has been prepared in accordance with the Charities SORP (FRS 102) and the requirements of Charities Act 2011 and the requirements of the charity's governing document.

Signed on 29 July 2026 on behalf of the Board of Trustees

Anna Sedgley Trustee

Happy Doggo CIO

Opinion

consolidated statement of financial activities, consolidated balance sheet, parent charity balance sheet, consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

December 2025 application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including r ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on rn for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report, other than the other information. Our opinion on the financial statements does not cover the other

Happy Doggo CIO

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

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

respect with the financial statements; or
the parent charity has not kept sufficient accounting records; or
records and returns; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

n page 10, the

trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could

Happy Doggo CIO

reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Identifying and assessing risks related to irregularities:

material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charity by discussions with trustees, and updating our understanding of the sectors in which the group and parent charity operate.

Laws and regulations of direct significance in the context of the group and parent charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement aws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify noncompliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the

Happy Doggo CIO

risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our

Use of our report

4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the parent charity trustees those matters we are permitted by law, we do not accept or assume responsibility to anyone other than the parent our audit work, for this report, or for the opinions we have formed.

Saffery LLP Statutory Auditors

71 Queen Victoria Street, London, EC4V 4BE

Date: 29 July 2026

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Happy Doggo CIO

Consolidated Statement of Financial Activities for the year ended 31 December 2025

Consolidated Statement of Financial Activities

The statement of financial activities includes all gains and losses recognized in the year. The notes on pages 20 to 34 form the rest of the financial statements.

Happy Doggo CIO

Consolidated Balance Sheet as at 31 December 2025

Consolidated Balance Sheet

Approved by the Board of Trustees on 29 July 2026 and signed on its behalf by:

Anna Sedgley Trustee

Happy Doggo CIO

Charity Balance Sheet as at 31 December 2025

Charity Balance Sheet

Approved by the Board of Trustees on 29 July 2026 and signed on its behalf by:

Anna Sedgley Trustee

Happy Doggo CIO

Consolidated Statement of Cash Flows for the year ended 31 December 2025

Consolidated Statement of Cash Flows

Happy Doggo CIO

Notes to the Cash Flow Statement for the year ended 31 December 2025

Notes to the Cash Flow Statement

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

Notes to the Accounts

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 periods presented, unless otherwise stated.

The financial statements cover the 12-month period ended 31 December 2025. The comparative figures cover the first period of operation, being the period from 6 July 2023 to 31 December 2024, and therefore not directly comparable.

Statement of compliance: The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policy. 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) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Happy Doggo CIO meets the definition of a public benefit entity under FRS 102.

Basis of consolidation: The Consolidated Statement of Financial Activities (SOFA), Consolidated Balance Sheet and Consolidated Cash Flow Statement, consolidate the financial statements of the Charity and its subsidiary, Happy Doggo Trading Limited. The results of the subsidiary are consolidated on a line by line basis.

Going concern: The accounts have been prepared on a going concern basis. In assessing cash flows, reserves and expected levels of future voluntary income for a period of at least twelve months from the date of approval of the financial statements. While future voluntary income cannot be predicted with certainty, the Trustees consider that the charity has sufficient resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

Happy Doggo Trading Ltd.: Happy Doggo Trading Ltd. is a trading subsidiary of the CIO and is included in the consolidated financial statements.

Recognition of revenue: Cash donations and income from trading activities are recognised on receipt. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of donation.

Funds : Unrestricted Funds are available to spend on activities that further any of the purposes of the charity.

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Receipt of donated goods, facilities and services: Donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Recognition of expenditure: Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on raising funds : These comprise the costs directly and indirectly associated with attracting voluntary income, such as marketing, advertising, and direct costs associated with the processing of donations. They also include the costs of trading activities undertaken to raise funds for the charity.

Expenditure on charitable activities: These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.

Grants payable : Grant expenditure is recognised when the charity has an obligation to make payment under an approved grant agreement or Memorandum of Understanding. Grant expenditure is measured at the amount payable under the relevant funding arrangement. Amounts paid in advance of the related charitable activities being undertaken are recognised as prepayments. Amounts due in respect of activities undertaken before the reporting date are recognised as accruals.

Governance costs: These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure: These are support costs not allocated to a particular activity.

Support costs : The charity allocates support costs to fundraising and charitable activities in line with the Charities SORP (FRS 102), ensuring that the full cost of delivering each program is accurately reflected. Support costs, including governance, administration, finance, and IT, are apportioned to programs on a reasonable and consistent basis, typically by time spent or direct expenditure. During 2025, the charity enhanced its support cost allocation methodology to provide greater transparency over the full costs of activities. Comparative information for 2024 has not been restated.

Taxation : The charity is exempt from corporation tax on its charitable activities. Corporation tax is recognised in respect of taxable profits arising within the group's trading subsidiary.

Tangible fixed assets and depreciation: A tangible fixed asset is recognised when:

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

It is probable that future economic benefits or service potential will flow to Happy Doggo;
The cost or fair value can be measured reliably; and
The item has an expected useful life exceeding one year

Assets are originally measured at cost. Assets are carried at cost, less accumulated depreciation and impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment 33% straight line

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

Cash and cash equivalents: Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of 90 days or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are t. Investments with original maturities over 90 days are separately disclosed.

Currency : Accounts are prepared in pounds sterling and rounded to the nearest pound.

Trade and other creditors: Short term creditors are measured at the transaction price. Other creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Foreign currency: Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are taken into account in arriving at net income/expenditure.

Charity Status: The charity is a charitable incorporated organisation (CIO) and does not have share capital. Details of the registered office can be found on page 3.

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

1 Income from donations and legacies

Reported income from donations and legacies is marginally higher than prior year. Excluding pre-trading donations ingathered by founder recorded in 2024, underlying donation income increased by 63% year on year.

Donated services of £30,175 relate to staff services provided by Happy Doggo US 501(c)(3) (2024: £nil).

2 Income from investments

3 Trading activities

4 Other income

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

5 Expenditure on raising funds

6 Expenditure on charitable activities

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

7 Analysis of grants

All grants were made to institutions. No grants were made to individuals.

No grant expenditure is reported in respect of Soi Dog Foundation in 2025 as funding during the year was provided by Happy Doggo US 501(c)(3).

Further details of the above activities and programmes are explained in the Trustees Report.

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

8 Other expenditure

During the year, the presentation of support costs was revised to provide improved transparency over the full costs of charitable activities and fundraising. Accordingly, support costs have been fully apportioned in 2025. Comparative information for 2024 has not been restated.

Donated services of £30,175 relate to staff services provided by Happy Doggo US 501(c)(3) (2024: £nil).

Audit fees are inclusive of irrecoverable VAT.

10 Trustee remuneration and expenses

No remuneration or expense reimbursements were paid to any trustees during the period.

The trustees are considered to comprise the key management personnel of the charity. No remuneration was paid to key management personnel during the period (2024: £nil). The CEO received no remuneration for their role during the period (2024: £nil).

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

11 Staff costs

The average number of employees during the year was 2.6 (2024: 0), comprising 2.3 fundraising staff and 0.3 support staff.

One employee received taxable emoluments in the band £60,000- £69,999 during the year (2024: none).

12 Corporation tax

The tax charge relates wholly to taxable profits arising in Happy Doggo Trading Ltd.

13 Tangible fixed assets

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

14 Charity Investments

Investment in subsidiaries:

The charity has the following subsidiary undertakings:

Happy Doggo Trading Ltd generated revenue of £235,120 (2024: £147,997) and incurred operating costs of £180,734 (2024: £94,625). After a corporation tax charge of £4,634 (2024: £nil), the company reported a profit of £49,752 (2024: £nil).

In 2024, the company donated its distributable profits to Happy Doggo CIO under Gift Aid. No Gift Aid donation has been accrued at 31 December 2025.

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

15 Consolidated Debtors

16 Current Investments

17 Consolidated creditors

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

18 Movement in funds

Purposes and restrictions in relation to the funds: are to build a hospital for street dogs in Koh Samui, Thailand.

19 Analysis of net assets between funds

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

20 Analysis of cash and cash equivalents

21 Related party disclosures

Transactions with related parties

Name of related party

Description of relationship between the parties

Description of transaction and general amounts involved

Happy Doggo Trading Ltd.

Wholly owned trading subsidiary

During the year, the subsidiary repaid amounts due to the Charity, including the prior year Gift Aid donation of £53,372. The Charity charged the subsidiary a licence fee of £1,650 in respect of the use of its intellectual property. In the prior year, the subsidiary accrued a Gift Aid donation of £53,372 payable to the Charity and the Charity advanced funds to support the subsidiary's operations.

Amount due from/(to) the related party

£1,650 (2024: £184,962)

Name of related party

Description of relationship between the parties Description of transaction and general amounts involved

Niall Harbison

CEO of the charity

Donations during 2025 totalling £179,682, comprising personal donations and speaker fees donated via a third party (2024: £1,011,848 representing pre-trading donations ingathered). £134,450 of these donations were restricted to building 24: £76,666).

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025

Name of related party Happy Doggo Company Ltd. Description of relationship between the parties Niall Harbison is a director of this company based in Koh Samui, Thailand. Description of transaction and general amounts Grant payments of £433,882 made involved to Happy Doggo Company Ltd in 2025 (2024: £89,247). Name of related party Happy Doggo (US 501(c)(3)) Description of relationship between the parties Related charitable organisation Description of transaction and general amounts During the year, donated staff involved services of £30,175 (2024: £nil) were provided by Happy Doggo US in respect of the Charity's Chief Operating Officer, Lindsay Angus. The value has been recognised as donated services (gifts in kind) in the Statement of Financial Activities.

Controlling party

The charity is governed by a Board of Trustees, who collectively have significant control of the entity.

Happy Doggo CIO

Notes to the Accounts for the year ended 31 December 2025