Charity no. 1207040
# **RSPCA North Wiltshire and Newbury District Branch CIO**
# **Report and Audited Financial Statements 31 December 2025**
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Reference and administrative details**
|**For theyear ended 31**|**December 2025**||
|---|---|---|
|**Charity number**|1207040||
|**Registered office and**|Unit 6 Clearwater Business Park||
|**operational address**|Blagrove||
||Frankland Road||
||SN5 8YZ||
|**Trustees**|Trustees, who are also directors under company law, who served during||
||the year and up to the date of this report were as follows:||
||Michelle Bowyer||
||Christopher Laurence||
||Janine Leigh|Chairman|
||Anne Murray|Treasurer|
||Carol Pike|Secretary|
|**Chief Executive**|Richard Clowes||
|**Bankers**|Lloyds Bank Plc||
||5 High Street||
||Swindon||
||SN1 3EN||
|**Solicitors**|Wollens Solicitors||
||At Harbourside||
||67 The Terrace||
||Torquay||
||TQ1 1DP||
|**HR Advisers**|Robinson Grace HR Consultancy||
||28 Stone Lane||
||Lydiard Millicent||
||Swindon||
||SN5 3L||
|**Auditors**|Godfrey Wilson Limited||
||Chartered accountants and statutory|auditors|
||2nd Floor - South||
||One Castle Park||
||Tower Hill||
||Bristol||
||BS2 0JA||
1
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Chairman's Report**
## **For the year ended 31 December 2025**
As Chair of Trustees, I am pleased to present this Annual Report on behalf of the Board.
The past year has been one of both challenge and achievement. Like many charities, we have operated against a backdrop of rising costs, economic uncertainty and increasing demand for our services. Despite these pressures, the charity has continued to deliver significant impact for animals across North Wiltshire, Newbury and the surrounding areas whilst maintaining a strong focus on financial sustainability and good governance.
Our purpose remains clear: to prevent cruelty, promote kindness and improve the welfare of animals. Every day our staff and volunteers bring that purpose to life through their commitment to animal welfare, whether rescuing and rehabilitating wildlife, supporting pet owners, caring for animals awaiting rehoming or generating the income needed to fund these activities.
The Board recognises that none of this work would be possible without the dedication of our volunteers. More than 43,000 volunteer hours were contributed during the year, representing an extraordinary commitment from people who freely give their time, skills and energy in support of animals. On behalf of the trustees, I extend our sincere thanks to every volunteer for their contribution.
I would also like to thank our staff, who continue to demonstrate professionalism, compassion and resilience in what can often be challenging circumstances. Their commitment to maintaining high standards of animal welfare whilst adapting to changing demands is central to the charity's success.
The trustees remain mindful of the financial pressures affecting the charitable sector. Rising employment costs, inflation and wider economic uncertainty continue to create challenges for organisations across the country. For many charities, the gap between rising costs and income growth is becoming increasingly difficult to bridge.
The Board's responsibility is not simply to oversee today's activities, but to ensure that the charity remains strong enough to serve animals ten, twenty and thirty years from now. That requires careful stewardship of resources, prudent financial management and a willingness to take decisions that protect the long-term sustainability of the organisation.
For more than a decade the charity has pursued a deliberate strategy of growth, investment and resilience. During that period, the organisation has grown significantly in both scale and impact, enabling us to help more animals, invest in improved facilities and services, strengthen our governance and build a more sustainable financial foundation. This long-term approach has ensured that the charity is better equipped to respond to future challenges and opportunities.
Strong organisations are not built in a single year. They are built through consistent decision-making over many years, often requiring trustees and management to balance immediate demands against long-term priorities. Whilst 2025 was undoubtedly a challenging financial year, the charity entered this period from a position of strength and remains financially secure. The resilience we have today is the result of the hard work and careful stewardship of trustees, staff, volunteers and supporters over many years.
Throughout the year, trustees have continued to focus on governance, risk management, financial oversight and strategic development. Much of this work takes place behind the scenes, but it is essential to ensuring that charitable funds are protected, used effectively and directed towards achieving the greatest possible impact for animals.
2
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Chairman's Report**
## **For the year ended 31 December 2025**
Whilst challenges remain, there are reasons to be optimistic. The actions taken during the year have strengthened the organisation and positioned it well for the future. We are encouraged by the progress made and cautiously optimistic about the opportunities that lie ahead.
As an independent local charity, we rely entirely upon the generosity of our supporters. Donations, legacies, fundraising activities, retail income and volunteer support all play a vital role in enabling us to continue our work. We remain deeply grateful to everyone who has chosen to support us during the year.
I would also like to thank my fellow trustees for the time, expertise and commitment they contribute to the charity. Trustees carry significant responsibilities and provide invaluable support, challenge and oversight to help ensure the organisation remains focused on its mission and well prepared for the future.
The need for our work remains as important as ever. Thanks to the continued support of our volunteers, staff, donors, customers and wider community, we are well placed to continue improving the lives of animals across our area for many years to come.
On behalf of the Board of Trustees, thank you for your continued support.
## **Janine Leigh - Chairman**
3
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Chief Executive's Report**
## **For the year ended 31 December 2025**
2025 was a difficult year for many charities, and we were no exception.
Demand for our services remained high throughout the year, while the cost of delivering those services continued to increase. Rising wages, increased employer National Insurance contributions, inflationary pressures, property costs and utility bills all combined to create a challenging operating environment. At the same time, households across our area continued to face financial pressures of their own, inevitably affecting charitable giving and consumer spending.
Against that backdrop, the achievements of our staff and volunteers become even more remarkable.
Every year thousands of animals pass through our care. Some arrive frightened, injured, neglected or abandoned. Others are orphaned wildlife requiring specialist treatment and rehabilitation. Behind every statistic is an individual animal and a team of people committed to giving that animal the best possible outcome.
Our Oak and Furrows Wildlife Rescue Centre continues to play a vital role in the region, providing expert care to sick, injured and orphaned wildlife. At the same time, our retail operation remains the financial backbone of the charity, generating the income needed to fund our animal welfare activities and invest in future services.
Many people are surprised to learn that although we are part of the RSPCA family, we are an independent local charity responsible for raising our own funds. We do not receive automatic funding from the national RSPCA. Every animal we help is supported by the generosity of local people through donations, legacies, fundraising, volunteering and purchases made in our shops.
This local model is one of the great strengths of the branch network. Across England and Wales, local RSPCA branches collectively rehome more than 80% of the animals rehomed by the RSPCA each year. It allows charities like ours to respond directly to local need while remaining accountable to the communities we serve.
None of this would be possible without our volunteers.
During the year, volunteers donated more than 43,000 hours of their time to the charity. That contribution is equivalent to more than twenty full-time members of staff and represents an extraordinary commitment to animal welfare. Whether caring for wildlife, supporting our shops, transporting animals, fostering cats, assisting with administration or helping at events, volunteers remain the lifeblood of our organisation.
The financial realities facing charities today cannot be ignored. The sector is operating in an environment where costs are rising faster than income for many organisations. For charities that employ staff, occupy property and deliver specialist services, these pressures are significant. The easy decisions have largely been made, and charities increasingly need to become more efficient, more commercial and more innovative simply to maintain existing levels of service.
For more than a decade, our strategy has been to build a financially resilient organisation capable of withstanding economic shocks and periods of uncertainty. That resilience has not happened by accident. It has been built through careful stewardship of resources, disciplined financial management, investment in our people and infrastructure, and a commitment to making decisions that support long-term sustainability rather than short-term gain.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Chief Executive's Report**
## **For the year ended 31 December 2025**
As trustees and management, we recognise that our responsibility extends beyond delivering services today. We are custodians of the resources entrusted to us by donors, supporters, volunteers and the wider community. Our role is to ensure those resources are used effectively, responsibly and in a way that maximises long-term impact for animal welfare.
This means maintaining strong governance, exercising financial discipline and continually seeking opportunities to improve efficiency and effectiveness. Difficult decisions are sometimes necessary, but they are taken with a clear objective: to ensure the charity remains strong enough to support animals not just today, but for many years to come.
Whilst 2025 was challenging, the charity entered this period from a position of strength and remains financially secure. The financial strength we enjoy today is the result of many years of prudent management, careful planning and the commitment of trustees, staff, volunteers and supporters alike.
Whilst 2025 was undoubtedly a challenging financial year, there are reasons to be optimistic. The actions taken during the year have strengthened the organisation, improved efficiency and positioned us well for the future. Early indicators suggest a more positive outlook than was apparent twelve months ago, and we enter the coming year with greater confidence, whilst remaining mindful of the economic pressures that continue to affect the charitable sector.
Most importantly, we remain focused on our purpose.
Every animal successfully rehabilitated, every pet rehomed, every act of kindness shown by a volunteer, supporter or member of staff demonstrates why this charity exists. The need for our work remains as great as ever, but so too does the commitment of those who support it.
On behalf of the trustees, I would like to thank our staff, volunteers, donors, customers, supporters and partner organisations. Your contribution enables us to continue protecting and caring for animals across North Wiltshire, Newbury and the surrounding areas.
Together, we are making a difference every day.
## **Richard Clowes, Chief Executive Officer**
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
The trustees present their annual report together with the financial statements and auditors' report of the charity for the year ended 31 December 2025.
## **Who we are**
RSPCA North Wiltshire & Newbury District Branch CIO is an independent local charity and a member of the wider RSPCA branch network. The charity operates under Charity Number 1207040 and works across North Wiltshire, Newbury and the surrounding areas to improve animal welfare through rescue, rehabilitation, rehoming, education and welfare support.
Whilst we share the values, objectives and recognised brand of the National RSPCA, we are financially independent and responsible for raising our own funds. We receive no automatic funding from the National Society and rely upon the generosity of local supporters, customers, volunteers, donors, grant makers and legacy supporters to fund our work.
Originally established in 1974, the charity has helped many tens of thousands of animals over the past five decades and continues to play an important role in supporting both domestic animals and wildlife across our area.
## **Objects**
The charity's objects are to promote the objects and work of the RSPCA, in particular the promotion of kindness and the prevention or suppression of cruelty to animals, in accordance with the policies of the Society.
## **Mission statement**
The RSPCA will, by all lawful means, prevent cruelty, promote kindness to and alleviate the suffering of all animals.
## **Public benefit**
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 and have had due regard to the Charity Commission's public benefit guidance when exercising their powers and duties.
We measure our public benefit against five strategic priorities which align with those of the National Society whilst reflecting the specific needs of our local communities.
## **What we do (our five priorities)**
- Rescue and care for animals in need;
- Change attitudes and behaviours;
- Inspire kindness and compassion to animals;
- Grow support and income; and
- Strive for excellence in all that we do.
## **Rescue and care for animals in need**
Helping animals in need remains at the heart of everything we do.
During 2025, the charity directly helped 4,359 animals across North Wiltshire, Newbury and the surrounding areas. This figure includes animals admitted into our care, veterinary treatments funded, rehoming activity, wildlife call-outs, advice and assistance provided to members of the public and other direct animal welfare interventions.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
During the year we improved the way in which animal welfare activities are recorded and monitored. As a result, the 2025 figure includes a broader range of animal welfare support than was captured in previous years, particularly wildlife call-outs, advice and guidance provided to members of the public, and other interventions that were previously not systematically recorded. Whilst this means direct comparisons with previous years should be treated with some caution, it also provides a more complete and accurate picture of the charity's overall impact.
A major part of this work was delivered through Oak & Furrows Wildlife Rescue Centre, where 3,654 wild animals were received either a call-out, advice or care and rehabilitation. The centre continues to play a vital role in wildlife welfare across the region and remains one of the charity's most important services.
Recognising that veterinary costs continue to place pressure on many households, the charity contributed towards 616 veterinary treatments during the year, helping ensure that financial hardship does not prevent animals from receiving essential veterinary care.
Our cat fostering and rehoming programme also continued to develop, with 30 cats successfully rehomed into permanent loving homes, up from 19 the previous year. By providing temporary foster placements, we are able to support vulnerable animals whilst suitable homes are identified.
We also continued to support neutering initiatives, welfare interventions and the work of the National RSPCA Inspectorate. Through close collaboration with veterinary practices, neighbouring branches and other wildlife rescue organisations, we are able to maximise our impact and ensure animals receive support as quickly and effectively as possible.
## **Change attitudes and behaviours**
Improving animal welfare is not achieved solely through rescue and rehabilitation. Lasting change also requires people to make informed and responsible decisions about the animals in their care.
Throughout the year, the charity provided advice and guidance to thousands of members of the public on a wide range of animal welfare issues. This included support for injured wildlife, responsible pet ownership, animal health and wellbeing, neutering, rehoming, and how to access assistance when owners faced financial difficulties.
Through our wildlife rescue activities, veterinary assistance schemes, fostering programme and direct engagement with animal owners, we seek to address the causes of adverse animal welfare as well as their consequences. By helping people understand their responsibilities and providing practical support where needed, we aim to reduce animal suffering before intervention becomes necessary.
Our website, social media channels, newsletters and charity shops also provide important opportunities to share welfare information and promote responsible behaviours. Through these channels we continue to encourage better understanding of animal welfare issues affecting both domestic animals and wildlife.
We believe that long-term improvements in animal welfare are achieved not only through direct intervention, but also through education, awareness and the promotion of responsible ownership. By helping people make informed decisions, we can create lasting improvements in the lives of animals across our communities.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
## **Inspire kindness and compassion to animals**
We continue to use education, communication and engagement to inspire greater kindness and compassion for animals.
Through our stores, website, newsletters and social media channels, we seek to encourage greater understanding of the challenges facing both domestic animals and wildlife. By promoting positive welfare messages and sharing the stories of animals that pass through our care, we aim to foster a culture of compassion, responsibility and respect for animals and the environment.
During 2025, our social media, website and digital communications reached a substantial audience. Our Facebook content generated 2,794,263 views and 92,121 engagements, whilst our TikTok content received 59,700 views and Instagram content received 30,900 views.
Our website received 70,986 visits during the year, providing advice, support and information to animal owners, wildlife carers and members of the public.
Our email newsletters remain an important communication channel with supporters and the wider community. Over the last twelve months our newsletters generated 14,054 opens, helping us share animal welfare advice, wildlife education, fundraising activity and updates on the impact of our work.
Collectively, these channels generated millions of opportunities for people to engage with animal welfare messages during the year. By extending our reach beyond the animals we directly help, we continue to promote greater awareness, understanding and compassion for animals throughout our communities.
## **Grow support and income**
Generating a sustainable level of income remains essential if we are to continue delivering and expanding our charitable activities.
Our retail operation remains the financial backbone of the charity and continues to provide the majority of the funding required to support our animal welfare activities. Despite a challenging trading environment characterised by rising employment costs, inflationary pressures and increasing competition for donated goods, our retail operation continued to perform strongly.
Throughout the year we continued to develop our retail estate, warehouse operation, online sales activity and fundraising programmes. We also continued to strengthen relationships with supporters, donors, grant makers and corporate partners whose generosity helps make our work possible.
As a local RSPCA branch, we seek wherever possible to align ourselves with the aims, values and strategic priorities of the National Society. Working collectively under a trusted national brand allows us to contribute towards a shared mission of improving animal welfare and preventing cruelty to animals.
However, it remains important to highlight that we are a financially independent charity. Whilst we are part of the wider RSPCA family, we are responsible for raising our own funds and receive no automatic financial support from the National Society. The animal welfare services we provide are funded through the generosity of our own supporters, customers, volunteers, donors and legacy pledgers.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
We recognise that many people choose to support the RSPCA because they care deeply about animal welfare in their local community. Experience suggests that many supporters are surprised to learn that local branches are independent charities and that donations made directly to the National Society do not automatically fund local branch activities. We therefore continue to raise awareness of our independent status whilst working collaboratively with the wider RSPCA network to maximise the impact we can achieve for animals.
The charity was particularly pleased to begin the merger process with a neighbouring RSPCA branch during the year. Subject to the completion of the necessary approvals and due diligence processes, this merger will significantly expand our geographical reach and increase our ability to deliver animal welfare services across a larger area.
## **Strive for excellence in all that we do**
As the charity continues to grow in both scale and complexity, maintaining high standards of governance, compliance and operational effectiveness remains a key priority.
During 2025, we continued to strengthen the organisational foundations of the charity. Particular focus was placed on health and safety, staff and volunteer development, governance, operational systems and management processes. Throughout the year, policies, procedures, risk assessments and training programmes were reviewed and enhanced to ensure that the charity continues to operate safely, effectively and in line with best practice.
Protecting the welfare of our staff, volunteers, visitors and animals remains fundamental to everything we do. Significant work was undertaken during the year to strengthen our health and safety culture and ensure that robust systems and procedures are in place across all areas of the organisation.
We also continued to invest in our people. Improvements to staff management, volunteer support, training and operational oversight have helped strengthen the organisation and improve consistency across our activities. As the charity grows, these investments become increasingly important in ensuring we maintain high standards whilst remaining efficient and sustainable.
The year also saw continued progress in strengthening governance and organisational resilience. The completion of the transition to a Charitable Incorporated Organisation (CIO) has provided a stronger governance framework for the future, whilst work associated with a proposed branch merger has helped further develop our systems, due diligence processes and strategic planning.
The charity continues to benefit from a stable and experienced Board of Trustees together with a committed staff and volunteer team. Collectively they provide the leadership, expertise and oversight necessary to ensure that the charity remains financially sustainable, operationally effective and focused on delivering the greatest possible impact for animal welfare.
We recognise that excellence is not a destination but an ongoing process of improvement. By continuing to invest in our people, systems and governance, we are building an organisation that is capable of helping more animals and serving our communities for many years to come.
## **Future plans**
Our primary objective remains helping animals in need. However, delivering sustainable animal welfare services requires a financially stable organisation with sufficient income to support both current and future activities. Generating sufficient unrestricted income to cover our ongoing expenditure, without reliance on legacy income, therefore remains a key strategic objective.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
## Short to Medium Term
In the short to medium term, we will continue to strive for excellence at our Wildlife Rescue Centre, providing high-quality care for as many wildlife casualties as practical whilst maintaining the highest possible standards of animal welfare.
For domestic animals, we will continue to expand our fostering and rehoming activities and provide support to as many people as possible through our veterinary assistance schemes. We will also continue to strengthen relationships with veterinary practices across our area through regular communication, collaboration and the provision of wildlife training opportunities for veterinary professionals.
We will continue to develop our retail operation through a combination of improving sales and profitability within existing stores, exploring opportunities for selective expansion where appropriate and growing our online sales activities. Retail income remains the financial foundation upon which much of our animal welfare work depends. Increasingly our associated trading company plays a significant part in income generation selling new goods online and through our charity stores with all profit Gift Aided to the charity.
The charity will also continue to develop its digital communications, educational content and supporter engagement activities to strengthen relationships with our existing supporters whilst reaching new audiences.
Following the successful completion of one branch merger, we will continue to explore opportunities for further collaboration and consolidation within the branch network where these opportunities improve animal welfare outcomes, strengthen financial sustainability and enhance the services available to local communities.
## Longer-Term Vision
Looking further ahead, the trustees have identified the acquisition of a suitable site as one of the charity's most significant long-term strategic ambitions.
Our vision is to secure, either through purchase or donation, a suitable parcel of land that would allow the charity to develop a purpose-built animal welfare facility capable of supporting both wildlife rehabilitation and cat welfare activities.
Such a facility would provide opportunities to expand our wildlife rescue and rehabilitation services whilst creating a dedicated cat rehoming centre to complement our existing fostering programme. This would increase our capacity to help vulnerable animals, improve welfare outcomes and provide a long-term base from which the charity can continue to grow its impact.
The trustees believe that focusing on wildlife and cat welfare represents the most effective use of the charity's resources, expertise and infrastructure. Whilst dog rehoming remains an important area of animal welfare, it typically requires significantly greater investment in facilities, staffing and specialist expertise. The charity therefore believes that concentrating resources on those areas where it can deliver the greatest impact will provide the best outcomes for animals and supporters alike.
Although this ambition is likely to be achieved over a number of years, it represents an important part of the charity's long-term vision and commitment to improving animal welfare across North Wiltshire, Newbury and the surrounding areas.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
## **Wildlife Centre**
Our Oak and Furrows Wildlife Rescue Centre remains one of the charity's most important services and continues to provide specialist care for injured, orphaned and distressed wildlife from across the region.
During 2025, we cared for 3,654 wild animals through a combination of telephone support, call-outs and direct admissions to the centre. Whilst the volume of animals helped remains significant, our focus has increasingly been on improving both the quality of care provided and the outcomes achieved for the animals entrusted to us ensuring that they have the best possible chance of survival after release.
We are pleased to report a 12% improvement in wildlife release rates during the year. This reflects the dedication and expertise of our staff and volunteers together with a continued focus on evidencebased rehabilitation, improved animal husbandry and consistent standards of care.
The centre benefits from an extraordinary team of volunteers whose contribution helps keep the operation running smoothly throughout the year. Volunteers provide practical support across many areas of the centre's activities and play a vital role in ensuring that animals receive the care and attention they need.
This year, we further strengthened the centre's operational management through a series of improvements in safety, training and compliance. A comprehensive review of health and safety arrangements was undertaken, including a full-site risk assessment and the enhancement of procedures designed to protect both people and animals.
Importantly, we continue to work closely with other RSPCA wildlife centres across the country to maintain a coordinated, best-practice approach to wildlife rehabilitation. Through the sharing of knowledge, expertise, resources and standardised procedures, we are able to improve outcomes for wildlife whilst ensuring consistency across the wider RSPCA network.
Collectively, these improvements have strengthened the centre's professional standards and enhanced our ability to deliver high-quality care, helping more wildlife casualties return successfully to their natural environment.
## **Retail operations**
Our retail operation remains the financial backbone of the charity and continues to generate the majority of the income required to fund our animal welfare activities.
The retail sector continues to face significant challenges, including rising employment costs, increased employer National Insurance contributions, inflationary pressures, changing consumer behaviour and growing competition for donated goods. These pressures have been felt across the charity retail sector and require continual adaptation to maintain performance.
Despite these challenges, our retail operation continued to perform strongly throughout 2025. The combination of an experienced management team, dedicated staff and volunteers, disciplined cost control and a willingness to embrace change has enabled us to remain resilient in a demanding trading environment.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
During the year, we continued to develop our retail estate, warehouse operation, online sales activity and new goods programme. Our strategic focus on larger-format stores, improved product presentation, enhanced stock management and higher-value product categories has continued to deliver positive results and strengthen the long-term sustainability of the operation.
The long-term trend within charity retailing continues to favour larger stores capable of displaying a broader product range, accepting greater volumes of donated goods and providing a more attractive shopping experience for customers. The charity has increasingly aligned its retail strategy with this trend, seeking opportunities to operate larger, more commercially sustainable premises where appropriate.
This approach has already demonstrated its value. Our most recent larger-format store generated approximately £230,000 of revenue during 2025, highlighting the potential of this model to increase income and strengthen the charity's ability to fund animal welfare activities.
As part of our ongoing review of store performance, one persistently unprofitable store was closed during the year. Whilst such decisions are never taken lightly, the trustees believe it is important that resources are deployed where they can generate the greatest benefit for animal welfare.
The charity also vacated a second store at relatively short notice following the expiry of its lease. Following a successful search for alternative premises, this location has subsequently been replaced with a larger store in the same area. The new premises provide improved opportunities for sales growth, increased stock capacity and greater operational efficiency and are expected to strengthen our retail presence within the local community.
These decisions reflect the charity's commitment to actively managing its property portfolio, ensuring that resources are invested in locations capable of delivering the greatest long-term benefit to both the organisation and the animals we support.
Alongside income generation, our retail activities provide an important community benefit by encouraging reuse, reducing waste and supporting more sustainable consumer behaviours. Every donation received, item sold and volunteer hour contributed helps generate funds that are reinvested directly into animal welfare activities across our area.
The retail operation also provides valuable volunteering opportunities, helping individuals develop skills, confidence and social connections whilst making a meaningful contribution to the charity's work.
Our associated trading company (RSPCA North Wiltshire and Newbury District Trading Ltd) plays an increasingly important role in income generation through the sale of new goods. The company was established under a loan agreement with the charity and all profits are donated to the charity. Amounts actually paid during the year amounted to £46,523 this year.
Whilst the economic outlook remains uncertain, the charity remains committed to investing in and developing its retail operation. Maintaining a strong and sustainable retail business is essential if we are to continue expanding our impact and helping more animals in the years ahead.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
## **Fundraising**
As an independent local charity, we rely entirely upon the generosity of our supporters to fund our animal welfare activities. We receive no automatic funding from the national RSPCA and therefore depend on donations, grants, fundraising activities, retail income and legacies to continue our work.
During 2025, we were fortunate to receive support from a wide range of individuals, businesses, schools, community groups and charitable trusts. Their generosity enables us to care for thousands of animals each year, invest in our facilities and services, and continue developing the charity for the future.
We would particularly like to thank the following organisations and supporters for their valuable contribution during the year:
- Purton Vets for the donation of a welfare vehicle;
- Montala; Leeway Sports Club; RWE Generation;
- Pets at Home Swindon;
- Pets at Home Foundation;
- An anonymous donor whose generous donation of £13,600 made a significant contribution to our work;
- The Chesterton Foundation;
- Cirencester Male Voice Choir;
- All Saints Primary School; and
- The residents of the Lowermill Estate.
In addition to those listed above, we would like to thank the many individuals who have donated, fundraised, left gifts in wills, volunteered their time or supported our charity shops throughout the year. Every contribution, regardless of size, plays an important role in helping animals in need.
We are grateful not only for the financial support received, but also for the time, effort and enthusiasm shown by those who organise events, raise awareness and champion animal welfare within their communities.
The Branch is committed to maintaining the highest standards of fundraising practice. We are registered with the Fundraising Regulator and adhere to the Code of Fundraising Practice. We did not employ any external professional fundraisers during 2025 and received no complaints relating to fundraising activities during the year.
To protect the privacy of our supporters, the Branch does not sell, share or exchange donor information with third parties or the national RSPCA.
## **Volunteers**
Volunteers remain the lifeblood of our organisation and make an extraordinary contribution to every aspect of the charity's work. Without their dedication, commitment and generosity, we would be unable to operate at our current scale or deliver the level of support provided to animals across our area.
During 2025, volunteers contributed an exceptional 45,693 hours of service. This represents the equivalent of more than twenty full-time members of staff and demonstrates the remarkable level of support the charity receives from the communities it serves.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
Volunteers play a vital role throughout the organisation, supporting wildlife rehabilitation, retail operations, animal transport, cat fostering, fundraising, administration and governance. Their contribution not only extends our capacity to help animals but also brings a wide range of skills, knowledge and experience into the charity.
We remain committed to ensuring that volunteers feel valued, supported and equipped to succeed in their roles. Throughout the year we continued to provide role-specific training and guidance tailored to individual responsibilities across retail, animal welfare, administration and governance. We also recognise and celebrate the contribution of our volunteers through events such as National Volunteers' Week and other recognition initiatives throughout the year.
On behalf of the trustees, we extend our sincere thanks to every volunteer who has supported the charity during the year. Their contribution makes a meaningful difference to the lives of thousands of animals and remains one of the charity's greatest strengths.
## **Financial review**
The charity generates income from a diverse range of sources including retail sales, donations, legacies, grants, fundraising activities and investment income. Retail operations remain the charity's largest source of income and continue to provide the financial foundation upon which much of our animal welfare work depends.
Total income for the year was £1,489,436 (2024: £1,630,843). Included within this figure was legacy income of £46,318 (2024: £244,163) and donations of £170,567 (2024: £134,042).
The reduction in overall income compared with the previous year was primarily attributable to a lower level of legacy income. Legacy receipts can fluctuate significantly from year to year and are inherently difficult to predict. The trustees therefore focus on developing sustainable income streams that support the charity's long-term financial resilience and do not rely on legacy income to fund day-today operations.
Total expenditure for the year was £1,796,136 (2024: £1,535,900). The increase in expenditure reflects a number of factors. During 2024, the charity received a grant of approximately £57,000 which was largely utilised during 2025 to support charitable activities. In addition, the charity experienced significant increases in employment costs arising from both increases to the National Living Wage and higher employer National Insurance contributions. These pressures were experienced across much of the charitable sector and had a material impact on operating costs during the year.
The charity recorded an operating deficit of £306,700 for the year (2024: surplus of £94,943). In addition, unrealised losses on investments amounted to £16,327 (2024: gains of £40,941), resulting in a total deficit for the year of £323,027 compared with a total surplus of £135,884 in the previous year.
Whilst the result for the year reflects a challenging financial environment, it should be viewed in the context of a significant reduction in legacy income, the utilisation of grant funding received in the previous year and substantial increases in employment costs. The trustees continue to focus on maintaining a financially sustainable organisation through disciplined financial management, strong retail performance, diversification of income streams and careful stewardship of resources.
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## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
The charity retains a strong balance sheet and remains well positioned to continue delivering its charitable objectives whilst investing in future opportunities to improve animal welfare outcomes across the area.
## **Policy on reserves**
Reserves play an important role in protecting the charity against unexpected financial pressures, supporting cash flow requirements, funding emergency expenditure and enabling investment in future charitable activities.
The trustees regularly review the charity's reserves policy, taking account of the scale and complexity of the organisation, its reliance on retail income, the costs associated with operating a wildlife rescue centre and retail estate, and the wider economic environment.
The trustees aim to maintain sufficient unrestricted reserves to provide financial stability and allow the charity to continue operating in the event of an unexpected reduction in income or significant increase in expenditure. As a guide, the trustees consider unrestricted reserves equivalent to 9 to 12 months' expenditure to be appropriate for an organisation of the charity's size and complexity.
At 31 December 2025, unrestricted reserves totalled £931,026 (2024: £1,216,995). Included within this balance is a designated reserve of £500,000 which has been set aside by the trustees to support the future development of an animal welfare facility. The trustees remain committed to this long-term objective and have reviewed the designation during the year. Whilst the timing of the project remains uncertain, the trustees consider the designation remains appropriate in light of the charity's strategic objectives and long-term financial position.
Free reserves, defined as unrestricted funds excluding fixed assets, designated funds and investments, amounted to £131,469 at 31 December 2025 (2024: £254,579). The trustees continue to monitor the free reserves position closely as part of their regular financial oversight.
Restricted funds at 31 December 2025 totalled £79,539 (2024: £116,597) and relate principally to funds and assets associated with Oak and Furrows Wildlife Rescue Centre.
The reduction in reserves during the year reflects the operating deficit reported in the financial statements, which arose primarily as a result of lower legacy income, the utilisation of grant funding received in the previous year and significant increases in employment costs across the organisation.
Notwithstanding this reduction, the trustees remain satisfied that the charity has adequate resources to continue operating and meet its obligations as they fall due. The trustees have reviewed the charity's financial forecasts, reserves position and principal risks and consider it appropriate to prepare the financial statements on a going concern basis.
The trustees do not consider that there are any material uncertainties that cast significant doubt on the charity's ability to continue as a going concern.
## **Investment policy and objectives**
The charity holds an investment in a CCLA COIF Investment Fund. During the year, the investment was revalued resulting in an unrealised loss of £16,327 (2024: gain of £40,941).
15
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
As an animal welfare charity, the Branch carefully considers the ethical implications of its investments. Supporting organisations whose activities conflict with our charitable objectives could damage both our reputation and our mission. The trustees therefore require that ethical considerations form an important part of the investment process.
Whilst ethical screening can potentially restrict investment opportunities, the trustees seek to minimise this impact through careful selection of investment managers and investment vehicles. The trustees expect fund managers to demonstrate that environmental, social and governance (ESG) considerations, together with wider ethical factors, are incorporated into investment decision-making.
The trustees regularly review the performance of the charity's investments against both financial and ethical objectives. During the year, the trustees began a review of the charity's investment portfolio following a period of underperformance relative to expectations. This review will consider investment performance, risk, diversification, ethical criteria and the continued suitability of the current investment arrangements to ensure that the charity's assets are managed effectively and in a manner consistent with its values.
The trustees remain committed to maintaining an investment approach that balances financial returns, risk management and ethical responsibility whilst supporting the charity's long-term financial sustainability and animal welfare objectives.
## **Governance and management**
Strong governance and effective management are fundamental to the charity's success and longterm sustainability.
During the year, the charity continued to build upon the governance improvements associated with its transition to a Charitable Incorporated Organisation (CIO). The CIO structure provides a stronger governance framework, enhanced operational resilience and greater protection for trustees, helping ensure that the charity remains well positioned to meet future challenges and opportunities.
The charity benefits from a skilled and experienced Board of Trustees whose collective expertise includes law, finance, human resources, business management and animal welfare. The Board is responsible for setting the strategic direction of the charity, overseeing performance, ensuring compliance with legal and regulatory requirements and safeguarding the charity's assets and reputation.
Responsibility for the day-to-day management of the charity is delegated to the Chief Executive Officer and senior management team. This clear separation between governance and operational management helps ensure effective leadership, accountability and decision-making across the organisation.
The trustees recognise their responsibility as custodians of the resources entrusted to the charity by supporters, donors, volunteers and the wider community. Throughout the year, the Board continued to focus on strong financial stewardship, effective risk management and ensuring that charitable resources are directed towards achieving the greatest possible impact for animal welfare.
The charity maintains a comprehensive suite of policies and procedures covering areas such as safeguarding, health and safety, financial controls, data protection, volunteer management, staff conduct and ethical fundraising. These are regularly reviewed to ensure continued compliance with legal, regulatory and operational requirements.
16
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
During the year, the charity introduced a formal Staff Code of Conduct, providing clear guidance on the standards of behaviour, professionalism and accountability expected of employees. The Code supports a positive organisational culture and helps ensure that staff, volunteers, trustees, supporters and members of the public are treated with fairness, dignity and respect.
The charity also continued to strengthen trustee recruitment, induction and development, helping ensure that the Board maintains the skills, experience and diversity of thought required to govern an increasingly complex organisation.
All trustees are required to declare any interests that may conflict with their duties. Any potential conflicts are recorded and managed in accordance with the charity's policies and procedures. During the year, no material conflicts of interest were identified.
Two trustees also serve as directors of the charity's wholly owned trading subsidiary. Appropriate governance arrangements are in place to ensure transparency, accountability and the effective management of any potential conflicts of interest.
The trustees remain committed to maintaining the highest standards of governance and recognise that excellence is an ongoing process of continuous improvement. By investing in governance, people, systems and organisational culture, we continue to strengthen the charity's ability to deliver meaningful and sustainable animal welfare outcomes.
## **Structure**
The charity operates through a Charitable Incorporated Organisation (CIO), RSPCA North Wiltshire and Newbury District Branch (Charity Number 1207040).
During 2024, the trustees established a wholly owned trading subsidiary, RSPCA North Wiltshire and Newbury District Branch Trading Limited (Company Number 14615658), to undertake the sale of new goods and other non-primary purpose trading activities. The trading company continues to play an important role within the wider organisation, generating income and making a valuable contribution to the financial sustainability of the charity. Any taxable profits are donated to the charity and used to support its animal welfare activities.
The transition from the former unincorporated charity to the CIO was completed in March 2025 following an extensive period of due diligence, planning and asset transfer. The CIO now holds the charity's assets and undertakes all operational activities.
The trustees believe that the CIO structure provides a stronger and more resilient foundation for the future, offering improved governance, greater operational flexibility and enhanced protection for trustees whilst maintaining the charity's commitment to delivering high-quality animal welfare services across North Wiltshire, Newbury and the surrounding areas.
## **Recruitment and appointment of trustees**
Trustees are volunteers and are responsible for the overall governance, strategic direction and financial stewardship of the charity.
The Board met on nine occasions during the year and, at the year end, comprised five trustees. Trustees regularly participated in committee meetings, strategic discussions and other activities necessary to support the effective governance of the charity.
17
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
The charity seeks to maintain a Board with a broad range of skills, experience and perspectives. New trustee applications are carefully considered to ensure continuity of effective governance whilst maintaining an appropriate range of skills and experience across the Board. The current Board benefits from expertise in legal, finance, veterinary and human resources disciplines, together with wider commercial, governance and animal welfare experience.
When vacancies arise, trustees are recruited through a combination of public advertisement, local networks and recommendations, with appointments based upon the skills, knowledge and experience required to support the charity's ongoing development following an audit of trustees’ current skills.
New trustees receive a comprehensive induction programme designed to provide a broad understanding of the charity's operations, governance arrangements, policies, legal responsibilities and strategic objectives. Trustees are also encouraged to undertake appropriate training and development to ensure they remain effective in their roles.
All newly appointed trustees are initially recruited on a six-month probationary period. This allows both the trustee and the charity to assess whether the appointment is a good fit and provides an opportunity for new trustees to gain a full understanding of the role and responsibilities involved.
The Board regularly reviews its skills, experience and composition to ensure it remains appropriate for the size and complexity of the organisation. Whilst the charity recognises the importance of succession planning and the recruitment of new trustees, it is also mindful of the value of stability, continuity and organisational knowledge. The trustees therefore seek to achieve an appropriate balance between renewal and maintaining an experienced and effective Board.
The trustees are grateful for the time, expertise and commitment contributed by all members of the Board, whose voluntary service helps ensure the charity remains well governed and focused on delivering its charitable objectives.
## **Arrangements for setting key management personnel remuneration**
Details of trustee expenses and related party transactions are disclosed in the notes to the financial statements.
Trustees are required to declare any actual or potential conflicts of interest and to update the charity's register of interests accordingly. Conflicts of interest are managed in accordance with the charity's policies and procedures, and trustees withdraw from discussions and decision-making when appropriate. Where necessary, guidance or approval is sought through the appropriate RSPCA governance structures. No material conflicts of interest arose during the year.
The Chief Executive Officer reports directly to the Board of Trustees and is responsible for the day-today management of the charity. This includes leadership of staff and volunteers, operational management, financial oversight and the delivery of the charity's strategic objectives as determined by the trustees.
The charity operates a Remuneration Committee which is responsible for reviewing the pay and conditions of employment of all staff. In determining remuneration, the committee considers a range of factors including the National Living Wage, inflationary pressures, market conditions, recruitment and retention considerations, organisational performance and, importantly, the financial position of the charity.
18
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
The trustees seek to ensure that remuneration levels are fair, reasonable, affordable and proportionate, enabling the charity to recruit, retain and motivate appropriately skilled employees whilst demonstrating responsible stewardship of charitable funds.
## **Major risks and management of those risks**
The trustees are responsible for identifying, monitoring and managing the principal risks that could affect the charity's ability to achieve its objectives. Risk management forms an integral part of the charity's governance framework and supports informed decision-making across all areas of the organisation.
The charity maintains a formal risk register which is reviewed regularly by the trustees and updated as necessary to reflect changes in the operating environment. Risks are assessed according to their likelihood and potential impact, with mitigation measures implemented where appropriate.
The principal risks facing the charity are categorised as follows:
## **Governance Risk**
The risk of ineffective governance, regulatory non-compliance or inadequate oversight. This is mitigated through a skilled and experienced Board of Trustees, clear governance structures, regular policy reviews, trustee training, succession planning and the use of professional advice where required.
The trustees recognise the importance of maintaining an appropriate balance between board stability and succession planning, ensuring that the charity retains valuable organisational knowledge whilst continuing to attract new skills and perspectives.
## **Financial Risk**
The charity operates in an increasingly challenging economic environment characterised by rising employment costs, inflationary pressures and increasing property-related costs.
A significant proportion of the charity's income is generated through its retail operation and, whilst this provides a relatively stable income stream, any sustained reduction in consumer spending, donated stock quality or retail performance could impact the charity's ability to fund its activities.
The trustees mitigate these risks through prudent financial management, regular budget monitoring, maintenance of appropriate reserves, diversification of income streams and careful management of the retail estate.
The charity is also exposed to fluctuations in legacy income, which can vary significantly from year to year. Financial planning is therefore based upon sustainable operating income rather than reliance on future legacies.
## **Operational Risk**
The charity's activities depend upon the effective operation of its retail estate, Wildlife Rescue Centre, fostering network and volunteer workforce.
The trustees recognise that the recruitment and retention of skilled staff and volunteers is critical to the delivery of services. To mitigate this risk, the charity continues to invest in training, volunteer support, staff development and operational systems.
19
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
Additional operational risks include health and safety, animal welfare, biosecurity and wildlife disease outbreaks. These risks are managed through documented policies and procedures, risk assessments, staff training, standard operating procedures and regular operational oversight.
## **Reputational and External Risk**
The charity's reputation is one of its most important assets. Reputational damage could adversely affect fundraising, volunteer recruitment, stakeholder relationships and public confidence.
Potential risks include safeguarding concerns, animal welfare incidents, volunteer or staff misconduct, social media activity and external events beyond the charity's control. The charity seeks to mitigate these risks through strong governance, clear policies, staff and volunteer training, transparent communication and adherence to recognised standards of animal welfare and professional conduct.
## **Strategic Risk**
The trustees regularly consider the long-term sustainability and development of the charity.
Key strategic risks include the successful integration of future branch mergers, the continued viability of the retail estate and the charity's ability to secure suitable facilities to support future growth.
The trustees are satisfied that appropriate systems are in place to identify and manage risk and believe that the measures adopted provide reasonable assurance that the charity can continue to operate effectively whilst pursuing its charitable objectives.
## **Statement of responsibilities of the trustees**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the groupand the incoming resources and application of resources, including the net income or expenditure, of the charity and the group for the year. In preparing those financial statements the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and accounting estimates that are reasonable and prudent;
- ▪ State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity and the group will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and which 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 constitution. The trustees are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
20
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Report of the trustees**
## **For the year ended 31 December 2025**
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.
The trustees have no beneficial interest in the charity.
## **Auditors**
Godfrey Wilson Limited were re-appointed as auditors to the group and parent charity during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 15 July 2026 and signed on their behalf by:
Janine Leigh - Chairman
21
## **Independent auditors' report**
## **To the trustees of**
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Opinion**
We have audited the financial statements of RSPCA North Wiltshire and Newbury District Branch CIO (the 'parent charity') and its subsidiary (the 'group') for the year ended 31 December 2025 which comprise the consolidated statement of financial activities, consolidated and parent charity balance sheets, consolidated statement of cash flows and the related notes to the financial statements, including a summary of 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 the Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## In our opinion, the financial statements:
- give a true and fair view of the state of the group and parent charity's affairs as at 31 December 2025 and of the group's incoming resources and application of resources, including its income and expenditure, 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 the Auditor’s responsibilities for the audit of the financial statements 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 the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 8 to the financial statements, and we have fulfilled our other 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**
In auditing the financial statements, we have concluded that the trustees’ use of the going 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 the charity's ability to continue as a going concern 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 trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
22
## **Independent auditors' report**
## **To the trustees of**
## **RSPCA North Wiltshire and Newbury District Branch CIO**
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
- the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- ▪ the financial statements are not in agreement with the accounting records; or ▪ we have not received all the information and explanations we require for our audit.
## **Responsibilities of the trustees**
As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, 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 they 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable 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 reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
23
## **Independent auditors' report**
## **To the trustees of**
## **RSPCA North Wiltshire and Newbury District Branch CIO**
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 procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:
(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.
(2) We reviewed the charity’s policies and procedures in relation to:
- identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance;
- detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and
- designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud.
(3) We inspected the minutes of trustee meetings.
(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.
(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.
(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.
(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:
▪testing the appropriateness of journal entries;
▪assessing judgements and accounting estimates for potential bias;
▪reviewing related party transactions; and
▪testing transactions that are unusual or outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
24
## **Independent auditors' report**
## **To the trustees of**
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Use of our report**
This report is made solely to the charityʼs trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charityʼs trustees those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Date: 15 July 2026
## **GODFREY WILSON LIMITED**
Chartered accountants and statutory auditors 2nd Floor - South One Castle Park Tower Hill Bristol BS2 0JA
25
## **RSPCA North Wiltshire and Newbury District Branch CIO**
**Consolidated statement of financial activities** _(incorporating an income and expenditure account)_
## **For the year ended 31 December 2025**
|Note
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other income
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
7
Net (losses) / gains on investments
**Net (expenditure) / income**
Transfers between funds
**Net movement in funds**
8
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
**Net (expenditure) / income before**
**gains**
Raising funds - costs of
generating voluntary income
Raising funds - Trading activities|Restricted
Unrestricted
£
£
98,545
128,340
-
17,902
-
1,241,092
-
3,557
98,545
1,390,891
-
70,268
-
1,275,762
138,437
311,669
138,437
1,657,699
(39,892)
(266,808)
-
(16,327)
(39,892)
(283,135)
2,834
(2,834)
(37,058)
(285,969)
116,597
1,216,995
79,539
931,026|**2025**
**Total**
**£**
**226,885**
**17,902**
**1,241,092**
**3,557**
**1,489,436**
**70,268**
**1,275,762**
**450,106**
**1,796,136**
**(306,700)**
**(16,327)**
**(323,027)**
**-**
**(323,027)**
**1,333,592**
**1,010,565**|Restated
2024
Total
£
481,160
14,776
1,134,907
-|
|---|---|---|---|
||||1,630,843|
||||74,356
1,078,956
382,588|
||||1,535,900|
||||94,943
40,941|
||||135,884
-|
||||135,884
1,197,708|
||||1,333,592|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 19 to the accounts.
Prior period expenditure have been reclassified to so that the financial statements more clearly distinguish between costs of raising funds related to generating voluntary income and costs of raising funds in relation to trading activities. The restatements are purely reclassifications of expenditure and do not affect net income / (expenditure).
26
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Consolidated balance sheets**
## **As at 31 December 2025**
|Note
**Fixed assets**
Tangible assets
11
Investments
12
**Current assets**
Stocks
15
Debtors due within one year
16
Cash at bank and in hand
**Liabilities**
17
**Net current assets**
**Net assets**
18
**Funds**
19
Restricted funds
Unrestricted funds
Designated funds
General funds
**Total charity funds**
Creditors: amounts falling due
within 1 year|**The group**
**2025**
**£**
**204,844**
**594,713**
**799,557**
**49,161**
**170,173**
**104,098**
**323,432**
**112,424**
**211,008**
**1,010,565**
**79,539**
**500,000**
**431,026**
**1,010,565**|The group **The charity**
2024
**2025**
£
**£**
226,376
**204,844**
736,040
**594,714**
962,416
**799,558**
21,255
**-**
232,253
**193,153**
231,774
**97,389**
485,282
**290,542**
114,106
**113,760**
371,176
**176,782**
1,333,592
**976,340**
116,597
**79,539**
500,000
**500,000**
716,995
**396,801**
1,333,592
**976,340**|The charity
2024
£
226,376
736,041|
|---|---|---|---|
||||962,417|
||||-
270,091
209,441|
||||479,532
135,269|
||||344,263|
||||1,306,680|
||||116,597
500,000
690,083|
||||1,306,680|
Approved by the trustees on 15 July 2026 and signed on their behalf by
Janine Leigh - Chairman
27
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Consolidated statement of cash flows**
**For the year ended 31 December 2025**
|**Cash used in operating activities:**
Net movement in funds
_Adjustments for:_
Depreciation charges
Loss on disposal of tangible fixed assets
Gains on investments
Increase in stock
Decrease / (increase) in debtors
(Decrease) / increase in creditors
**Net cash provided by / (used in) operating activities**
**Cash flows from investing activities:**
Purchase of tangible fixed assets
Proceeds from the sale of fixed assets
Proceeds from the sale of investments
**Net cash provided by investing activities**
**(Decrease) / increase in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2025**
**£**
**(323,027)**
**43,705**
**3,968**
**16,327**
**(27,906)**
**62,080**
**(1,682)**
**(226,535)**
**(26,266)**
**125**
**125,000**
**98,859**
**(127,676)**
**231,774**
**104,098**|2024
£
135,884
50,732
536
(40,941)
(253)
(75,321)
11,145|
|---|---|---|
|||81,782|
|||(52,998)
8,500
80,000|
|||35,502|
|||117,284
114,490|
|||231,774|
The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.
28
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
**1. Accounting policies**
## **a) Basis of preparation and general information**
RSPCA North Wiltshire and Newbury District Branch CIO is a charitable incorporated organisation registered in England and Wales. The registered office address is Unit 6 Clearwater Business Park, Blagrove, Frankland Road, SN5 8YZ.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The legal transfer of assets from RSPCA North Wiltshire and Newbury District Branch (268444) to RSPCA North Wiltshire and Newbury District Branch CIO, a newly registered charity (1207040) took place on 17 March 2025. Both entities have the same trustees and charitable objects, and the transfer therefore qualifies for merger accounting. The merger was commenced in the prior year and therefore the accounts for year ended 31 December 2025 were prepared under merger accounting principles.
RSPCA North Wiltshire and Newbury District Branch CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b) Group accounts**
These financial statements consolidate the results of the charity and its wholly-owned (controlled) subsidiary on a line by line basis. Transactions and balances between the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by the Charities SORP (FRS 102).
## **c) Going concern basis of accounting**
The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.
## **d) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
29
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **1. Accounting policies (continued)**
## **d) Income (continued)**
- Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Income received in advance of the provision of goods or services is deferred until criteria for income recognition are met.
## **e) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
## **f) Funds accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Redundancy costs**
Where an employee receives a termination benefit the full cost is recognised at the date the employee is notified.
30
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **1. Accounting policies (continued)**
## **i) Allocation of support and governance costs**
- Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds to generate voluntary income, raising funds for trading activities and expenditure on charitable activities based on the proportion of staff time as follows:
|||Restated|
|---|---|---|
||**2025**|2024|
|Raising funds - voluntary income|**6%**|8%|
|Raising funds - trading activities|**64%**|62%|
|Charitable activities|**29%**|30%|
## **j) Tangible fixed assets**
Tangible fixed assets costing £250 or more are capitalised and initially measured at cost (or fair value if donated).
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Leasehold land and buildings Over the life of the lease Furniture and shop equipment 33% straight line or 25% reducing balance Motor vehicles 25% reducing balance
## **k) Listed investments**
Investments held at the year end are valued at the current market value at that date. Investment income from dividends is included in incoming resources while realised and unrealised losses and gains on investments are shown separately on the statement of financial activities (SOFA). Realised gains and losses are calculated on investment disposals during the year as the difference between the opening market value and the proceeds received on sale. Unrealised gains and losses are calculated on investment holdings at the year end as the difference between the closing market value and the opening market value or purchase value during the
## **l) Investments in subsidiaries**
Investments in subsidiaries are valued at cost less provision for impairment.
## **m) Stock**
Stock is included at the lower of cost or net realisable value after making provision for obsolete and slow moving stock. Cost is determined using the first-in, first-out (FIFO) method.
Goods donated by the general public to be sold in the shops operated by the charity are not included in the value of stock due to there being no practical method of determining the value prior to sale.
31
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **1. Accounting policies (continued)**
## **n) 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.
## **o) Cash at bank and in hand**
Cash at bank and cash 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.
## **p) Creditors**
Creditors are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
## **q) Provisions**
A provision is recognised in the balance sheet when the charity has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.
## **r) Financial instruments**
The charitable 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 recognised at amortised cost using the effective interest method.
## **s) Pension costs**
The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
## **t) Operating leases**
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
## **u) Accounting estimates and key judgements**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
32
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **1. Accounting policies (continued)**
## **u) Accounting estimates and key judgements (continued)**
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
## **Depreciation**
As described in note 1j to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.
## **2. Prior period comparatives: statement of financial activities (restated)**
|**Income from:**
Donations and legacies
Charitable activities
Other trading activities
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
Net gains on investments
Transfers between funds
**3.**
**Income from donations and legacies**
Donations from individuals
Grants
Legacies
**Total income from donations**
Donations from The Oak and Furrows
Wildlife Rescue Centre
**Net income / (expenditure)**
**Net movement in funds**
Raising funds - costs of generating
Raising funds - Trading activities|Restricted
£
£
167,948
313,212
-
14,776
-
1,134,907
167,948
1,462,895
-
74,356
-
1,078,956
186,673
148,346
186,673
1,227,302
-
40,941
(18,725)
276,534
(8,509)
8,509
(27,234)
285,043
Restricted
£
£
63,502
5,195
1,301
100,569
10,000
-
23,742
22,576
98,545
128,340
Unrestricted
Unrestricted|Restated
2024
Total
£
481,160
14,776
1,134,907|
|---|---|---|
|||1,630,843|
|||74,356
1,078,956
382,588|
|||1,461,544|
|||40,941|
|||210,240
-|
|||210,240|
|||**2025**
**Total**
**£**
**68,697**
**101,870**
**10,000**
**46,318**|
|||**226,885**|
33
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **3. Income from donations and legacies (continued) Prior year comparative:**
|Donations from individuals
Grants
Legacies
**Total income from donations**
**4.**
**Income from charitable activities**
Boarding income
Donations from The Oak and Furrows
Wildlife Rescue Centre|Restricted
£
£
23,400
4,045
393
106,204
101,955
1,000
42,200
201,963
167,948
313,212
**2025**
**£**
**17,902**
Unrestricted|2024
Total
£
27,445
106,597
102,955
244,163|
|---|---|---|
|||481,160|
|||2024
£
14,776|
All income from charitable activities in the current and prior year was unrestricted.
**5. Income from other trading activities**
|Sale of donated goods
Sale of new goods
Fundraising events
Gift aid receivable
**Total income from trading activities**|**2025**
**£**
**906,366**
**263,835**
**2,454**
**68,437**
**1,241,092**|2024
£
887,481
175,242
2,120
70,064|
|---|---|---|
|||1,134,907|
All income from other trading activities in the current and prior year was unrestricted.
## **6. Government grants**
The charitable company did not receive any government grants during the current or prior year.
34
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **7. Total expenditure**
|£
48,915
Individual shop costs
-
Direct costs
-
Governance costs
-
75
654
Establishment costs
993
Insurance
-
-
Travel and subsistence
-
Motor expenses
-
4,123
Repairs
260
1,399
773
General expenses
3,430
Cleaning
-
Veterinary fees
-
Depreciation
34
60,656
9,612
70,268
Staff costs (note 9)
Raising funds -
costs of
generating
voluntary income
Allocation of support and
governance costs
Bank fees and other
charges
Staff training, welfare &
entertaining
Bookkeeping, legal &
professional fees
Loss on disposal of
tangible fixed assets
Printing, postage, and
stationary
**Total expenditure**
**Sub-total**
Advertising and
marketing|Raising
funds -
Trading
activities
£
529,983
570,535
698
-
1,483
-
10,842
3,354
3,421
-
-
5,494
-
15,027
9,229
756
-
-
20,796
1,171,618
104,144
1,275,762|Charitable
activities
£
£
238,872
49,495
-
-
8,554
-
-
13,763
3,455
2,518
34
23,664
43,490
38,942
3,354
1,677
547
-
2,449
14,991
4,466
-
857
2,086
3,380
651
1,617
36
-
4,897
1,487
1,691
9,713
255
64,046
-
16,846
6,029
403,167
160,695
46,939
(160,695)
450,106
-
Support and
governance|**2025 Total**
**£**
**867,265**
**570,535**
**9,252**
**13,763**
**7,531**
**24,352**
**94,267**
**8,385**
**3,968**
**17,440**
**4,466**
**12,560**
**4,291**
**18,079**
**14,899**
**7,364**
**9,968**
**64,046**
**43,705**|
|---|---|---|---|
||||**1,796,136**
**-**|
||||**1,796,136**|
35
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **7. Total expenditure (continued) Prior year comparative:**
|£
58,300
Individual shop costs
-
Direct costs
-
Governance costs
-
-
-
Establishment costs
690
Insurance
-
-
Travel and subsistence
-
Motor expenses
-
741
Repairs
-
582
757
General expenses
1,388
Cleaning
-
Veterinary fees
-
Depreciation
34
62,492
11,864
74,356
**Total expenditure**
**Sub-total**
Allocation of support and
governance costs
Bank fees and other
charges
Advertising and
marketing
Loss on disposal of
tangible fixed assets
Printing, postage, and
stationary
Raising funds -
costs of
generating
voluntary income
Staff training, welfare &
entertaining
Bookkeeping, legal &
professional fees
Staff costs (note 9)|Raising
funds -
Trading
activities
£
468,525
453,263
552
-
17
309
13,044
1,426
536
-
-
4,423
-
3,207
8,450
863
-
-
28,995
983,610
95,346
1,078,956|Charitable
activities
£
£
223,840
48,489
-
-
5,495
-
-
12,922
2,627
2,743
3,005
22,057
17,148
32,844
1,426
713
-
-
2,168
13,532
4,776
-
389
2,489
18,464
1,178
2,528
4,041
-
4,346
261
1,372
10,641
255
28,346
-
15,922
5,781
337,036
152,762
45,552
(152,762)
382,588
-
Support and
governance|Restated
2024 Total
£
799,154
453,263
6,047
12,922
5,387
25,371
63,726
3,565
536
15,700
4,776
8,042
19,642
10,358
13,553
3,884
10,896
28,346
50,732|
|---|---|---|---|
||||1,535,900
-|
||||1,535,900|
Prior year expenditure has been restated to reanalyse raising funds costs between costs of generating voluntary income and trading activities and allocate costs between raising funds, charitable actitivies and support and governance on a consistent basis with the current year.
36
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **8. Net movement in funds**
This is stated after charging:
|Depreciation
Loss on disposal of tangible fixed assets
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration (excluding VAT):
Statutory audit
Other services|**2025**
**£**
**43,705**
**3,968**
**238,291**
**Nil**
**Nil**
**12,285**
**1,925**|2024
£
50,732
536
193,239
Nil
Nil
11,700
1,800|
|---|---|---|
In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements and to prepare and submit returns to the tax authorities.
## **9. Staff costs and numbers**
Staff costs were as follows:
|Salaries and wages
Social security costs
Pension costs|**2025**
**£**
**782,897**
**71,041**
**13,327**
**867,265**|2024
£
742,061
46,240
10,853|
|---|---|---|
|||799,154|
Salaries and wages includes redundancy payments totalling £6,479 (2024: £nil) which comprise of statutory redundancy pay only. Redundancy costs have been funded from unrestricted general reserves.
|Employees earning more than £60,000 during the year:
Between £60,000 and £70,000|**2025**
**No.**
**1**|2024
No.
1|
|---|---|---|
The key management personnel of the charitable company in the current and prior year comprise the trustees, Chief Executive, Store Operations Manager, Wildlife Centre Manager and Office Manager. The total employee benefits of the key management personnel were £202,373 (2024: £190,412).
37
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **9. Staff costs and numbers (continued)**
The average number of employees employed by the group during the year was as follows:
|Management and admin
Retail
Logistics
Wildlife centre
Total|**2025**
2024
**No.**
No.
**6**
7
**25**
24
**3**
3
**7**
7
**41**
41|
|---|---|
## **10. Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The trading subsidiary donates its taxable profits to the parent charity under the gift aid scheme.
## **11. Tangible fixed assets - group and charity**
|**Cost**
At 1 January 2025
Additions in year
Disposals in year
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
Disposals
At 31 December 2025
**Net book value**
**At 31 December 2025**
At 31 December 2024|£
£
299,734
96,114
5,996
18,670
(10,262)
(1,066)
295,468
113,718
122,597
61,669
16,735
23,306
(6,841)
(1,066)
132,491
83,909
162,977
29,809
177,137
34,445
Furniture and
equipment
Land and
buildings|Motor
vehicles
£
43,774
1,600
(10,740)
34,634
28,980
3,664
(10,068)
22,576
12,058
14,794|**Total**
**£**
**439,622**
**26,266**
**(22,068)**|
|---|---|---|---|
||||**443,820**|
||||**213,246**
**43,705**
**(17,975)**|
||||**238,976**|
||||**204,844**|
||||226,376|
38
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **12. Investments - group and charity**
|**Investments - group and charity**||||
|---|---|---|---|
|Listed investments
Investment in subsidiary
**Total investments**
**Listed investments:**
Market value at the start of the year
Disposal proceeds
Net (losses) / gains
**Market value at the end of the year**|**2025**
2024
**£**
£
**594,713**
736,040
**-**
-
**594,713**
736,040
**2025**
2024
**£**
£
**736,040**
775,099
**(125,000)**
(80,000)
**(16,327)**
40,941
**594,713**
736,040
**The group**
**The group**|**2025**
2024
**£**
£
**594,713**
736,040
**1**
1
**594,714**
736,041
**2025**
2024
**£**
£
**736,040**
775,099
**(125,000)**
(80,000)
**(16,327)**
40,941
**594,713**
736,040
**The charity**
**The charity**||
||||736,040|
All investments are held in a COIF investment bond. The investment bond has been included in the accounts at fair value.
39
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **13. Subsidiary undertakings**
_RSPCA North Wiltshire and Newbury District Trading Limited_
RSPCA North Wiltshire and Newbury District Trading Limited (company number 14615658) is a wholly owned subsidiary of RSPCA North Wiltshire and Newbury District Branch with an issued share capital of one ordinary share of £1. It trades in the purchase and sale of 'new goods' within our retail operations. This company makes a donation to the charity of its taxable profits under the gift aid scheme.
|under the gift aid scheme.|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Turnover|**254,439**|164,793|
|Cost of sales|**(157,169)**|(101,029)|
|Gross profit|**97,270**|63,764|
|Administrative expenses|**(42,001)**|(14,292)|
|Operating profit|**55,269**|49,472|
|Interest receivable|**-**|50|
|Interest payable|**(1,460)**|(2,610)|
|**Profit for the financial year**|**53,809**|46,912|
|Gift aid distribution to parent charity|**(19,611)**|(20,000)|
|**Total retained profits**|**34,198**|26,912|
|The aggregate of the assets, liabilities and funds was:|||
||**2025**|2024|
||**£**|£|
|Assets|**80,981**|70,996|
|Liabilities|**(46,782)**|(44,083)|
|Funds|**34,199**|26,913|
|**Parent charity**|||
|The parent charity's gross income and the results for the year are disclosed as follows:|||
||**2025**|2024|
||**£**|£|
|Gross income|**1,299,501**|1,513,733|
|(Deficit) / surplus for the year|**(330,338)**|126,454|
## **14. Parent charity**
40
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
|**15.**
**Stock**
**2025**
2024
**£**
£
Goods for resale
**49,161**
21,255
**16.**
**Debtors: amounts due within 1 year**
**2025**
2024
**£**
£
Trade debtors
**665**
3,010
Prepayments
**62,514**
66,233
Accrued income
**62,570**
125,054
VAT recoverable
**12,951**
17,825
Other debtors
**31,473**
20,131
**170,173**
232,253
**17.**
**Creditors: amounts falling due within 1 year**
**2025**
2024
**£**
£
Trade creditors
**63,672**
38,990
Amounts due to group undertakings
**-**
-
Other taxation and social security
**16,397**
12,170
Accruals
**27,349**
57,633
Other creditors
**5,006**
5,313
**112,424**
114,106
**The group**
**The group**
**The group**|**2025**
2024
**£**
£
**-**
-
**2025**
2024
**£**
£
**642**
2,943
**61,764**
66,233
**62,570**
125,054
**16,704**
23,730
**51,473**
52,131
**193,153**
270,091
**2025**
2024
**£**
£
**46,814**
35,218
**24,340**
27,341
**16,398**
12,170
**21,202**
55,227
**5,006**
5,313
**113,760**
135,269
**The charity**
**The charity**
**The charity**|**2025**
2024
**£**
£
**-**
-
**2025**
2024
**£**
£
**642**
2,943
**61,764**
66,233
**62,570**
125,054
**16,704**
23,730
**51,473**
52,131
**193,153**
270,091
**2025**
2024
**£**
£
**46,814**
35,218
**24,340**
27,341
**16,398**
12,170
**21,202**
55,227
**5,006**
5,313
**113,760**
135,269
**The charity**
**The charity**
**The charity**|
|---|---|---|
|||135,269|
41
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
|**18.**
**Analysis of group net assets between funds**
£
Tangible fixed assets
49,353
Investments
-
Current assets
30,186
Current liabilities
-
**Net assets at 31 December 2025**
**79,539**
**Prior year comparative**
£
Tangible fixed assets
52,931
Investments
-
Current assets
63,666
Current liabilities
-
**Net assets at 31 December 2024**
116,597
Restricted
funds
Restricted
funds|Designated
funds
£
-
500,000
-
-
**500,000**
£
-
500,000
-
-
500,000
Designated
funds|£
155,491
94,713
293,246
(112,424)
**431,026**
£
173,445
236,040
421,616
(114,106)
716,995
General
funds
General
funds|**Total**
**funds**
**£**
**204,844**
**594,713**
**323,432**
**(112,424)**|
|---|---|---|---|
||||**1,010,565**|
||||£
226,376
736,040
485,282
(114,106)
Total
funds|
||||1,333,592|
42
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **19. Movements in funds**
|**Movements in funds**|||||||
|---|---|---|---|---|---|---|
|**Restricted funds**
The Oak and Furrows Wildlife Rescue Centre - Motor vehicle
The Oak and Furrows Wildlife Rescue Centre - Wildlife centre
The Oak and Furrows Wildlife Rescue Centre
Panton Trust
SW Regional Board
Sovereign Housing
L E Andrews Trust
RSPCA HQ
Pets at Home
**Total restricted funds**
**Unrestricted funds**
Designated funds:
Cattery
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**|At 1
January
2025
£
2,611
27,420
-
1,444
9,375
1,333
5,000
12,914
56,500
116,597
500,000
500,000
716,995
1,216,995
1,333,592|Income
£
-
-
89,545
-
-
-
-
9,000
-
98,545
-
-
1,390,891
1,390,891
1,489,436|£
(653)
(1,947)
(89,545)
(722)
(2,344)
(1,060)
-
(7,262)
(34,904)
(138,437)
-
-
(1,657,699)
(1,657,699)
(1,796,136)
Expenditure|£
-
-
-
-
-
-
-
-
-
-
-
-
(16,327)
(16,327)
(16,327)
Gains/
(losses) on
investments|Transfers
between
funds
£
-
-
-
2,834
-
-
-
-
-
2,834
-
-
(2,834)
(2,834)
-|**£**
**1,958**
**25,473**
**-**
**3,556**
**7,031**
**273**
**5,000**
**14,652**
**21,596**
**At 31**
**December**
**2025**|
|||||||**79,539**|
|||||||**500,000**|
|||||||**500,000**|
|||||||**431,026**|
|||||||**931,026**|
|||||||**1,010,565**|
43
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **19. Movements in funds (continued) Purposes of restricted funds**
The Oak and Furrows Wildlife Rescue Centre - Motor vehicle
This fund represents the net book value of motor vehicles purchased from restricted funds donated by the Oak & Furrows Wildlife Rescue Centre on transfer to the charity.
This fund represents the net book value of the Wildlife Centre purchased from restricted funds donated by the Oak & Furrows Wildlife Rescue Centre on transfer to the charity.
The Oak and Furrows Wildlife Rescue Centre - Wildlife centre This fund represents the net book value of the Wildlife Centre purchased restricted funds donated by the Oak & Furrows Wildlife Rescue Centre on transfer to the charity. The Oak and Furrows Wildlife Rescue Centre This fund represents restricted donations and legacies from the Oak & Furrows Wildlife Rescue Centre. Panton Trust Funding for incubators, shredders and aviary at the Wildlife Rescue Centre. SW Regional Board Funding from RSPCA HQ to purchase a replacement van. Sovereign Housing Funding from the SNG Commercial Support Fund to renovate the Thatcham shop. L E Andrews Trust Funding for the replacement van detailing. RSPCA HQ Funding to re-brand the shops. Pets at Home Funding towards an outreach programme. **Purposes of designated funds** Cattery The trustees have ringfenced £500,000 for the purpose of running a Cattery. **Transfers between funds** Transfers between funds are to correct a prior year transfer with the transfer being amounts unspent from the restricted fund.
This fund represents restricted donations and legacies from the Oak & Furrows Wildlife Rescue Centre.
44
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
|**19. Movements in funds (continued)**
**Prior year comparative:**
**Restricted funds**
The Oak and Furrows Wildlife Rescue Centre - Motor vehicle
The Oak and Furrows Wildlife Rescue Centre - Wildlife centre
The Oak and Furrows Wildlife Rescue Centre
Panton Trust
SW Regional Board
Sovereign Housing
L E Andrews Trust
RSPCA HQ
Pets at Home
**Total restricted funds**
**Unrestricted funds**
Designated funds:
Cattery
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**|At 1
January
2024
£
9,797
28,726
105,308
-
-
-
-
-
-
143,831
500,000
500,000
553,877
1,053,877
1,197,708|Income
£
-
-
65,993
5,000
12,500
4,000
5,000
18,955
56,500
167,948
-
-
1,462,895
1,462,895
1,630,843|£
(870)
(1,947)
(171,301)
(722)
(3,125)
(2,667)
-
(6,041)
-
(186,673)
-
-
(1,349,227)
(1,349,227)
(1,535,900)
Expenditure|£
-
-
-
-
-
-
-
-
-
-
-
-
40,941
40,941
40,941
Gains/
(losses) on
investments|Transfers
between
funds
£
(6,316)
641
-
(2,834)
-
-
-
-
-
(8,509)
-
-
8,509
8,509
8,509|£
2,611
27,420
-
1,444
9,375
1,333
5,000
12,914
56,500
At 31
December
2024|
|---|---|---|---|---|---|---|
|||||||116,597|
|||||||500,000|
|||||||500,000|
|||||||716,995|
|||||||1,216,995|
|||||||1,333,592|
45
## **RSPCA North Wiltshire and Newbury District Branch CIO**
## **Notes to the financial statements**
## **For the year ended 31 December 2025**
## **20. Financial instruments at fair value**
|**Financial instruments at fair value**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Financial assets measured at fair value|**594,713**|736,040|
Financial assets measured at fair value comprise listed investments.
## **21. Operating lease commitments**
The group and charity had operating leases at the year end with total future minimum lease payments as follows:
|Amount falling due:
Within 1 year
Within 1 - 5 years
After 5 years|**2025**
2024
**£**
£
**176,000**
194,739
**310,834**
311,692
**16,500**
33,000
**503,334**
539,431
**The group**|**2025**
2024
**£**
£
**176,000**
194,739
**310,834**
311,692
**16,500**
33,000
**503,334**
539,431
**The charity**|
|---|---|---|
## **22. Related party transactions**
During the year the charity paid £693 (2024: £637) of expenses to S Forrest, a trustee of The Oak and Furrows Wildlife Rescue Centre. The expenses were reimbursed for vehicle expenses and animal feed.
During the year, one trustee (2024: two) made donations to the charity totalling £12 (2024: £72).
46