## **Financial statements**
**LeoGen - Incorporated Charity CE037625 For the period ended 31 March 2026**
## **Contents**
**page 2 - Accountants Report**
**page 3 - Balance Sheet**
**page 4 - Profit and Loss Account**
Page 1
**LEOGEN - INCORPORATED CHARITY CE037625**
**ACCOUNTS FOR THE PERIOD ENDED 31ST MARCH 2026**
## **ACCOUNTANTS REPORT**
In accordance with the charity's constitution and with our terms of engagement, we have been requested to perform an independent review of your financial statements which are to include the Profit and Loss Account and Balance Sheet for the period ended 31st March 2026.
The financial statements have been prepared using the accounting records, information and explanations provided by your Treasurer.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you for our work or for this report.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:-
http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html
## **INDEPENDENT EXAMINERS STATEMENT**
I have completed my examination and confirm that no material matters should be drawn to your attention in order to enable a proper understanding of the financial statements.
We have selected a number and sample transactions and can confirm that these were in keeping with the accounting treatment required under UK GAAP (Generally Accepted Accounting Principles).
Richard Kessel - FCCA RBK Accountants Limited Lymedale Business Centre Hooters Hall Road Newcastle Under Lyme Signature: Staffordshire ST5 9QF Date: 29th May 2026
Page 2
## **LEOGEN - INCORPORATED CHARITY CE037625 BALANCE SHEET**
|ASSETS
NatWest Bank
Current Account
NatWest Bank
Reserve Account
Accruals
**Retained profits / losses brought forward**
**PLUS PROFIT / LESS LOSS FOR YEAR**|DR
CR
1,915.86
£
3,574.32
£
360.00
£
**6,883.14**
**£**
**1,752.96**
**£**
7,243.14
£
7,243.14
£
-
£
P/e 31 March 2026||DR
CR
153.97
£
7,029.17
£
300.00
£
**-**
**£**
**6,883.14**
**£**
7,183.14
£
7,183.14
£
-
£
P/e 31 March 2025|DR
CR
153.97
£
7,029.17
£
300.00
£
**-**
**£**
**6,883.14**
**£**
7,183.14
£
7,183.14
£
-
£
P/e 31 March 2025|
|---|---|---|---|---|
|||||7,183.14
£|
||||||
Page 3
## **LEOGEN - INCORPORATED CHARITY CE037625 PROFIT & LOSS ACCOUNT**
|INCOME
Donations
Bank interest received
Grant income
EXPENSES
DNA Testing
Postage
Vet Costs
Stud Dog Fees
Web Hosting
Legal and Professional Fees
Travel
Accountancy fee
**Net Profit (DR)**
**Net Loss (CR)**|DR
CR
7,124.69
£
49.08
£
2,965.85
£
3,529.94
£
37.33
£
5,532.58
£
960.00
£
11.30
£
510.00
£
951.43
£
360.00
£
**1,752.96**
**£**
11,892.58
£
11,892.58
£
-
£
P/e 31 March 2026||DR
CR
10,050.00
£
29.17
£
2,839.43
£
56.60
£
300.00
£
**6,883.14**
**£**
10,079.17
£
10,079.17
£
-
£
P/e 31 March 2025|DR
CR
10,050.00
£
29.17
£
2,839.43
£
56.60
£
300.00
£
**6,883.14**
**£**
10,079.17
£
10,079.17
£
-
£
P/e 31 March 2025|
|---|---|---|---|---|
|||||10,079.17
£|
||||||
Page 4
## LEOGEN
## Trustees’ Annual Report for the year ended 31 March 2026
**Charity Number:** 1210151
## Reference and administrative details
**Charity name:** LEOGEN **Charity number:** 1210151 **Legal form:** Charitable Incorporated Organisation (CIO) – Foundation **Date of registration:** 20 September 2024
The charity is known as the **Leonberger Genetic (LeoGen) Diversity Project** .
## Trustees
The trustees who served during the year, as recorded by the Charity Commission, were:
- **Sharon Springel – Chair**
- **Noora Ahokas**
- **Sanna Roste-Torniainen**
- **Juulia Nemlander**
- **Kaj Lindstedt**
- **Peter Lewis**
- **Rosemarie Lyon**
- **Dr Daniela Lutz-Beck**
The trustees are responsible for the governance, management and administration of the charity.
## Structure, governance and management
LEOGEN is a Charitable Incorporated Organisation (CIO) established to pursue its charitable objects for the public benefit.
The charity’s work is overseen by its Board of Trustees. The trustees bring together knowledge and experience relevant to the charity’s objectives, including Leonberger breeding, genetics, animal welfare and the practical management of the LeoGen project.
The trustees meet and communicate as necessary to consider the progress of the project, breeding plans, welfare considerations, genetic testing, financial matters and the future development of the programme.
No trustee receives remuneration from the charity.
## Objectives and activities
The charity’s registered charitable objects are:
**“For the public benefit of advancement of animal welfare and prevention of increased suffering in pedigree dogs (initially Leonbergers) through: (1) targeted genetic management in breeding practices; and (2) educating, sharing and disseminating knowledge and best practice regarding the breeding of Leonbergers and other pedigree dogs, for the public benefit.”**
The LeoGen project aims to increase genetic diversity within the Leonberger breed through a carefully managed programme of outcrossing, rotational crossing between participating breeder teams and subsequent backcrossing to strong, typical Leonberger lines.
The project recognises that maintaining genetic diversity is an important component of responsible breeding and animal welfare. Its approach is therefore to introduce genetic diversity in a controlled and monitored manner while maintaining careful attention to the health, welfare and characteristics of the dogs involved.
## Achievements and performance during 2025/26
The 2025/26 financial year represented an important stage in the development of the LeoGen project, with the production of two outcross litters.
Two participating breeders produced litters during the year:
## **Finland – Leonberger × Landseer**
A litter of **eight puppies** was produced in Finland from a Leonberger and a Landseer.
## **England – Leonberger × Labrador Retriever**
A litter of **six puppies** was produced in England from a Leonberger and a Labrador Retriever.
Together, these two litters introduced **14 puppies** into the LeoGen programme.
The puppies have now reached their first birthdays and are all reported to be progressing well. Their development continues to be monitored as part of the project’s longer-term objectives.
Genetic testing has been undertaken on the puppies. This testing provides information that enables the project to monitor their genetic health and to assess progress against the objectives of the LeoGen programme. The trustees recognise that the assessment of the success of an outcrossing programme is necessarily a long-term process, and the development and future breeding potential of these dogs will continue to be evaluated.
All 14 puppies remain within the LeoGen project. They are being cared for in **Guardian Homes** , allowing them to live as family dogs while remaining part of the carefully managed breeding programme.
The successful production and ongoing monitoring of these two litters represents a significant practical step forward for LeoGen. It demonstrates the project’s ability to undertake carefully planned outcrossing in different locations and with different participating breeders, while maintaining the welfare and ongoing assessment of the dogs produced.
## Public benefit
The trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit.
The principal beneficiaries of the charity’s work are animals, particularly pedigree dogs and initially the Leonberger breed. The charity seeks to advance animal welfare and prevent increased suffering by promoting responsible genetic management and by developing and sharing knowledge and best practice concerning pedigree dog breeding.
The benefits of the project are intended to extend beyond the individual dogs involved. By developing evidence and practical experience from carefully managed outcrossing, LeoGen aims to contribute to greater understanding of genetic diversity and responsible breeding practices within pedigree dogs.
The trustees consider that the activities undertaken during the year furthered the charity’s stated objectives and provided a clear public benefit through work directed towards improving the long-term welfare and genetic diversity of pedigree dogs.
## Financial review
**31 March 2026** . The charity’s financial year ended on
During the year, LeoGen received:
- **Donations:** £7,124.69
- **Bank interest:** £49.08
- **Grant income:** £2,965.85
Total income was therefore **£10,139.62** .
Expenditure during the year included:
- **DNA testing:** £3,529.94
- **Veterinary costs:** £5,532.58
- **Stud dog fees:** £960.00
- **Travel:** £951.43
- **Legal and professional fees:** £510.00
- **Accountancy fees:** £360.00
- **Postage:** £37.33
- **Web hosting:** £11.30
## The accounts record a **net loss of £1,752.96 for the year** .
At 31 March 2026, the charity held funds of approximately **£7,243** , comprising funds held in its NatWest current and reserve accounts together with accruals.
The principal expenditure during the year was directly related to the charity’s objectives, particularly veterinary care and genetic testing associated with the LeoGen project.
The trustees consider the charity’s financial position to be sufficient to support its immediate planned activities, subject to continued responsible management of expenditure and the availability of donations and other income. Further grants are being sought in order to make progress with the second generation of puppies.
## Reserves policy
The trustees seek to maintain sufficient unrestricted funds to enable the charity to continue its activities and meet its foreseeable commitments while ensuring that funds are used effectively in pursuit of the charity’s objectives.
The trustees will continue to review the level of reserves in light of the developing breeding programme, anticipated veterinary and genetic testing costs and the charity’s future activities.
## Risk management
The trustees recognise that the LeoGen project involves a number of risks, including risks relating to animal welfare, breeding decisions, genetic health, the availability of suitable breeding animals, the long-term development of the outcrossed dogs and the financial resources available to support the programme.
These risks are managed through careful selection and planning of breeding programmes, appropriate genetic testing, veterinary oversight and ongoing monitoring of the dogs participating in the project.
The trustees will continue to review the project’s risks as the programme develops and will adapt its approach where necessary to protect animal welfare and ensure that the charity’s objectives remain central to its activities.
## Plans for the future
During the coming year, the trustees intend to continue the development and careful monitoring of the LeoGen programme.
Particular emphasis will remain on:
- monitoring the health and development of the 14 dogs produced through the 2025/26 outcross litters;
- producing a third outcross litter;
- continuing appropriate genetic and health testing;
- assessing the suitability of dogs within the programme for future breeding;
- maintaining the welfare of dogs living in Guardian Homes;
- developing the next stages of the carefully managed breeding programme;
- working with participating breeders to maintain appropriate genetic management; and
- sharing knowledge and experience arising from the project to support responsible breeding and animal welfare.
The trustees recognise that genetic diversity programmes are necessarily longterm projects. Decisions will therefore continue to be based on the health and welfare of the dogs involved, genetic information available to the project and the project’s charitable objectives.
## Independent examination
The financial statements for the year ended 31 March 2026 were independently examined by **RBK Accountants Limited** .
The independent examiner, **Richard Kessel FCCA** , reported on 29 May 2026 that he had completed his examination and that no material matters should be drawn to the attention of the charity in order to enable a proper understanding of the financial statements. The examination also confirmed that sampled transactions were in keeping with the accounting treatment required under UK GAAP.
## Statement of Trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and regulations.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with applicable requirements.
The trustees are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Approval
This Trustees’ Annual Report was approved by the Board of Trustees and signed on its behalf by:
## **Sharon Springel**
Chair of Trustees
**Date:** 26 August 2026