Ch•FKy numbgr: 224337 Royal Society for the Preventlon of Cruelty to Anlmals, Ltys Nlni Branch - Carniarthenshire to Cardiff TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ROYAL SOCIETY FOR THE PREVEI4TIOII OF CRLIELTYTO ANIMALS, LLYS NINI BRANCH. CARMAftTHENSH￿E TO CONTEiirs Page TN¥tee8' report ThJst•e$' rnoponsiblllllm $talement Ind•p•nd•Tht auditor•' report on the finortclal otstwn•nts Stat•m•nt of flnanclal actmt 10-13 14 Balance she•t 15 Slotsm•nt ofeasfv ljows f6 Nal•s lo th•llnan¢Tal $tatem•nts 17-43 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NNI BRANCH- CARMARTHENSHIRE TO CARDIFF TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Tnth pres•nt ￿11 gnnual 19￿8r￿1 ffnanci81 ststemants forthe year gnded 31 D8cember2025. The financial statemerts hava bo8n preparsd In acuJrdan¢• w7th tha accountfng pfAfd•s set out In to the fffl8nctal statements and complywilh th6 charftys govfjmw￿ docuffl8n( thg Chwlties kn 201 l and 'A¢￿unling and Reporting by Charities." Statement of R4￿mM￿n￿8￿ PracU¢8 appl￿able to (*aiiltes preparing accounts In acwr(lanc8 wtth tho Finandgl Rep)rting Standard appffcablg In tho UK RepubU¢ of Iteland (FRS 102) leffeetrve 1 Janu&ry2019}'. Obfvct1￿ and actlvlt1•8 Th8 RSPCA Nlnl Branch is an unincotporated ch8rftable as$ocIatic￿ and a soparatelyregwgd branch of the Royal Sodety for tha Prevention of Cn*to Anlmals (the Soci8ty), Carrfvg out its dlr0¢tanlmalv￿lar& work in the unitary authorities of SwanseB, Neath Port Talb)L BrhJu8nd. somg areas thln Rhondda c￿0￿ Taf, Po￿. Cammrthanshlre and C*diff. Ho•Mer. whon ab[8. It takas In anhal$ from thg ofS¢yJth ond West Vlales. obJects of the Br8￿h areto womote fv vrtJTk 9nd tityects ofthe So¢tety- to prunole Idndnoss 8ThJ prevent or suppre8$ cwettyto anlm81$ by alj laWfi￿ means- pa1￿Cular rele￿￿e to the area Of the BrdFth. tn accordancè wth poJici8$ 01th8 SL￿￿ty. Th8 aim of the bran¢h is to provide a committed wellare semce to both dornestiG and whdltfe aNmdg in the South Wales area-to re￿e, rehabllitate and rehomo as mary8nlmals that negd our assiStancef￿tr n8glg¢t m￿tr￿arMent. orwho ar8 unwanw in the home. W8 gndeavourto promote rgspons&iifjtylot anima18 and the envlronmenl thrvwh th¢ educauon of Ch￿dren via s¢h•>Jl vlsits. In orderto mt•l b 81ms and obiectwes, the branc* operatss from a 78 acro faFmland on thg outsktrts of Swansea, ¥￿th facilFknes to p￿￿d0 the care for animals bropJght Into the ￿ntr8. T1￿ LYPal?ty of the centre is 57 dogs and 102 cats. 100 mi%ellaneous *nim4b plus pups and klttens at ony one time. Tr fa¢ffities albw the anlmal$ to be wwfded the pe8¢é and IranqulKtyth8yoftgn req￿re as they through rehabtlllation. The br8n¢h w0￿S doselyi￿th the local RSPCA InBpectorat8s, provldlng lh8 support and spw lor them to pro¥ld6 th* servlc08. The brnich alsovL)rks Sl James Vetsrinary Group to Pfovtde its vet8rirHry$erric lorlhe bronch gnlmals and V•XJrt$ wtth manyvolunte8rs to help the gnlm815 at the Centre. In the Shops and Otrt on the slte. providing much noodgd hands on experknce aryj assistwce. M••tlng the publ1¢ bonefft r•portlng r•qulremènt of th• Charltl•s kt The tfu$¢g08 have rnmewed Ihe outcfrtmes and echièvemonts ofthe objedlves and actsvities forth8 ￿r. to uro they remaln focus8d on the c*aritable glms aTha vJntlnu8 to ¢J8llver b¥￿fftS to the PLtbllc. In dgclding w￿1 tbts the Branch shoutd ￿dertake. the Intstees have ccKnplth ths duty the c1will￿￿& 201110 have due ward to wrt)Ik benefftguidanc8 published by Ihe Commis610n. Undertho charl￿•S Act 2011. the ad¥8nc•ment of ￿lMa1 woffare Is rgcogntsed as a thtinc*statsJtorydwilatl• PUIPOSO. This legIslaU￿ gnd the Anlmal Wewarp Act 2006 Indicate an accoptsnce by socw that tr¢thg I￿0# creature5 Vrith cr the publlc Th¢ opportunlty forfree usè ofthe Uy6 Ninl $tÉe to Ihe tocal arKI wlder communlty. and our wjrklng th othor agencies In the d8Slv8ryof educBlkffial opportunilies and volunteerkng 8nd trainfng fer peo* ot rkk of sodal oxdusion, in add￿on to our 8rlvfr￿m6ntaI work, demonstrates our r•Jmmthent to btring a hobsb¢ charity. We recognise that anlmals can afso havo a po%tive effect on peoplg's Wel￿e1n9 and offtrthe ¥o(ialwbryt of humans aF¥malg. ROYAL SOCIETY FOR THE PREVENTION OF CRUELTYTO ANIMALS, LLYS NINI BRANCH- TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 As on aclNe RSPCA Branch. we SLtpport our Ioc81 Insp¢¢tors bytaklng in mistreated ¢f abarKlonod animafs. induding pèts ￿those ovmers suffèr ill heallh. have Ilnanoal Ifrfficufugs orpass away. The Bran¢h prriwdès subsidised velerinarytrealmenl forBnimals whlch are sick or lryured and who ￿lOng to branch 8fea pèople on low incomes Ihrough a voucher $C￿Me. During 2025. $p8¢lal a$slslancg provided to Income owners of L bullles vAlh neutering fees kn t>)nJunction wtth Ihewales Board ond the Sodety. Imals in our¢ar& receive veterinary trethenL vaconatlon, noU1￿]ng, micro ¢hWng and are 98$￿ed for ro h¢Nnlng. This work helps to thè 8pread of diswe 8nd suffering. The Branch re homes animals rn need lo pgople willing and abl? to have a companiori anitnal. Whilst wa r9wlse thot companion animals measlwable ben8fits lo peopje's physieal and ffienlal hgalth, we ¢on$ider the provision of pets a$ subsiijiary to the maln ¢harftsble alm of Ihls servlce. whlch Is to reduce animal sufferlng. OLEr policy lo charga a réasonable adopUon fee for anlmals aim$ lo hlghlight thg on going personal and financtal comrnibment of owner5Fup. It would not be in the best interÈsts olanimals, and Iher8ftK& would fall outside our objects, to re home to thos$ WI￿ ¢￿Id not afford Th8 Branth aL%o provid8s, fw of tharge, adverttslng of IDst and found arsSmals and, through our Fac9book, Instagram and X accounts. tske5 slep5 to reunito Ihgm %%ith ovmers. This 7Arrfk beneffts o¥Jr Focal communty [Indu¢*ng tOC818uthorMes) by preventing 8nlmal8 Straying and pwlng a risk to themsefves and to Feopltt through n)ad traffi¢ acddents. The Branch reS￿n￿$ to ¢nquiries fmm the publ[¢ about anunals locaify. Tha puNic b8n8fits from knowng thatwo Inlemng to 8sslsl anlmafs In ne8d: offer ffee anlmgl care ad￿ on th& Pho￿ and on our websit•: and promotion of rèspor6iWe pel 0￿erShiP. We pThhJe y￿￿tee￿n9 and trainirvJ opportunilbs for those who vAsh to ¥￿pOrt ourwork. whtch benefits local p￿0 arffl companlgs by pffjwding thè pos$lbfJty ol doing *thld) l¥ ¢ompasston*o ar￿ towa￿1￿9. In adatbon to Ibaming new Ski￿5. We re￿ and reuse hundreds of kltos ofunw8nted tsxtles and other mÈteri818 thatwould otheNso gts to landfill. INe pro￿d• good quality, low cost clothlng and houselw)k1 Items to the publ[¢ through our $￿p5 and also pmido, freo of chprug, essential clothes and, when avallablo. other iterns to rough sleepws and h(¥Yths people thruugh the appropriate agencles. Achtev•mgllts aTrd p8rforni•n The 2025 finandal year continued to Prnsgnt slgnFThtsnl (*al* lorthe branch. Whttstthe overall SwpI￿ £362.435 forth¢ sear, thi5 was larg*￿S￿ributed lo the unrgofBed gains on Investments and leg8d•8, both of %¥hith aro inherenuy unpredlctabl& and txnnol be rel￿d upon 88 recurring sourc•s of revenug. Perfcrfmènce across th¢ ¢har6ty shops remalmd mixed tlwoughout th& year. The sector ¢fjnllnues to laco slderable extwnal pressures hcluding Increa81ng uiilitycosts. increased operatrng expenses. ststutory I￿0$8$ In N8tronal Lmng Wag8 twel4 h￿h￿r Empk•ygrs' Natlonal Insurance contrlbutions and ¢*)ntinulThJ decreases in rag plices. Thesè factors, QJmbift8d the changlng c￿￿um9r shopping habils arKI dedirung Ngh Street foowl. has placed 8 subsiantkl straln on the retsll Op￿atiOn. VolLmtoer numbers vlthln bolh th• shops And the Animal Cèntro Tematned bslow deslr8d1gvds. In rosponstr. the BRnch appolnted a Vohjntsgr Safaguarding Officer d￿Ing year to supptsrt ts recnH6ngnL trainww. and retenti¢)n of volunteer$ 8tross all Areas ofth8 oryanisation. The ￿mMa1 C8ntr8 ￿ntinUed to b8 bUsy*￿￿j dOsely￿ the Inspoctorate and Trnding Standards, boardirvJ s¢veFal case ?nimaLs fr)r long wiod$ of tirne. Atthe beglmtrg of the year ts Centr• was for 97 anim ())rn￿￿￿ to 89 animals at tha end ofthe year. Pagè 2 ROYAL SOCI￿ FOR THE PREVENTION OF CRUELry TO ANIIIPLS, LLYS NINI 8RANCH- CARMARTHENSHIRE TO CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 During 2025. Lfy3 Ninl accepted 384 (2024.. 416) anlmals into the centr¢, most of whom had beon rosrajed by RSPCA irtsp8ciors and arrived tn poor heallh. Through tho dgdicatlon and commttmentofstsff and volunte9rs, m08t 8nlmo1s were successfultyrphabllitatsd, vthh 350 anlmals rnl)omed durlng tho y8ar {2024.' 3991. In a￿￿¢00n to carfng for Branch anim￿$. Uys Nini LY)ntiNfyJ to provide welfartr &￿IStanCe throug150Ut th8 Branth area vla Its v(yJ¢her scheme. ¥upportlng a fvrther 19 dogs and 10 cats duro19 the year. It 1$ the branch's ￿1￿y￿at rn hoalthy and'rB ￿￿78able. anlmal Should b8 eulh&nlsed. The branch (￿inueS t+ WOTk coll8boratively VAlh1￿9[ organisollons indudlng Mbsing Deg$ Team Wales and Lost and Found Cats Wal6s- Gwenl Cats Protsction to OP8Tate g lost gnd found anlmal sorvkè. Strong Th*ing relationshty> arp al80 mahtain8d S¥Ans￿ Cals and Klttgn8. The St James Vgtsrinwy Cllnlc on c￿r$￿e conlinues lo be provjde Irwatuable 5￿port lo the Branch byredur4d veterfnary¢osts and improvhg anlmal welfare through easier a¢¢0¥5 to trèatmgnts and r￿rtIn6 h8ath rt*ckg. aroa CAmtinues to thrfve with conlinued regular slghtings of ducks. knngfishers. hemn, bats, foxès and owls vl$lu￿ our sllg. Tho bran¢h remalns ojmmthd to t￿0dly8￿ fflanag¢Ment and malrtsjns # th)cumented strategic plan for maintatnlng tho habitats on slte. Ongolng malntenan¢g of the paths and boardwa￿$ essential lo ensure safe publ￿ aC￿S and ¢ontinued 8njoyment of the gro￿ Sp￿S. Tho stte was orr* ogaln awarded ts Ctynmunltytknn F* Award In 2025 In recognit￿n dthese 6flryts. The Ysgubor projs¢t (xjnrfnued lo ￿ In p)pularity dwing thg ￿r. Provldw a café. aclivlty * e￿nts ¥pace. classroom facilibes. and a donalion p￿)￿￿1vj 8re8. These factmtias have ¢Dnthbuted posluvètyto I dNerstrtcation of reyenue streams. tho e>￿an￿on of ￿[Ma1 welfare acbwttes. increased visitor fooff￿l 8ThJ greater c￿MmunIty enga9em8nt. %%thrlst also 8UPPOrtlrg onvironmental sustainablty InllatEvos. Atl profits gangrated through the$8 act[v[￿o5 are relnvtsbj dlracify inb the charity in 3UPPOrt of fts ob19th￿. fundraising te8m ￿ntInE*d lo 11refesstythrough￿rt Ihg yearto generats essential tncome forthe Branch. Events IndudiThJ Eastsr TTaiLs and Egg Hunts. Dcg ofthe Year {DofY). summer events. HaifoKwn #Ctiwtsès. Chrislm88 evonts, and tho Muit Struts wdre all wtll supported bylh8 hjcal CCThmu￿. The atso wsdertook coll¢¢bon days and mainfalned an •clive presence aeross Fo¢¢bcok ar¥J Instagrnm, help ratBe aw8reness ofthe Branth's wc*k and eroJag8 WPIJOrto￿ The TnJ8t8e5 ext¢nd Ihelf 8lncwe thanks to the fundratsthg team and ¥olunto0rn forthglr0ng￿ry d￿l(￿on comwrthenl. The Branch dso ¢￿tin￿￿d kn benefftfTDm strow supportfrthn ￿Jea[ buslne8ses ¢orporote pathffs. manyof whoffl parllcip8tad In rt￿rity vtslts arKt yo￿T athittes. indudlng evenls support and grtyjnds wth, whilst gnhJ>?ThJ opptytunilr&s to irkna)ntrnued o•rMJ &Iss8s. Thlk dec6sion was not taken Iwdhtty Imrt V•7S consldor8d n￿essary in thg clrcumstsnces. In addibcfft. th&18ase fortF Neath shop came to $n end in Septembtsr 2025 and. du¢ to a1sd( of ftexibAltywitr>in the rent rwtiations. Ihe br8n¢h decKled lo vacats the prembes and relocate to ￿ altemallve site. The new Neath thop subseq￿n￿Y openod Sn Marth 2026. The branch conilnuès to explore oppc¢rtunMes foraliematlve r¢lail premiryes where suilable localions beccrfng avalobl& al the rtght tlmo, 8though no 8ppropriats opportunitlos have been Id9n14fi8d to dats. Thmuglwt tho year, putAk siwort through drThlJon8 of ¢lolhlng ond 1x1wb￿ IHS onco again b￿n outst8nding ar￿ remains essenI81 to the succas$ olthe retail oper8tiDn. However, th8 wder retsil sector continues to face skJnlfiLYrtchalleThJe$ arlBln9 from Increased operatiftg costs. indudlng stattrtory 6n¢reases In wag9 ratss and Emp[w￿, National Insurance contrlbutions. Incorne generated from rag collecltons has also seen a dedifte durlng the year. reftecling the vAder chal￿[￿$ wr¢ntly being ￿pen￿￿1 vhthin the recydlng and serui¢&hand texlites market. In¢ome 9onerat8d money mBFk¢l Invo$lrnBnts deuoasgd during tho Jparas rna￿t condibons COn￿￿u&d to fluthalt in rgsponso to olobal ¢cor￿m￿ yessure8. The movement In gains on Inv8strnents, whera Iho market valu8 of Inve51ments is hlthr or h)%￿r Iheir rytglnal cost, re$ullod in a gain of £255.610 (2024: gwn of £118.182). Inv￿lment Ma￿&S have ¢ontinued to OXFerfence volattlity as a fesult ofthe ènergy crisis. tho rnstof li￿n9 crisis and vAdèr econi)mic uncertainty. DuriNJ lh8 ypar, the tharKy had rnl d&p￿d gfany m8Jorassets. In￿rne 98￿rated from cAhor ac¥vtOe8 tnduded rent fr(#n fv V*terfn￿ Clinlc. Groome￿. ￿86perS and WlldlEowersites. s￿nSea Cats and klttens togoih8r *llh th• rentfor the solgr fl81d. Pa9è 4 ROYAL SOCIEfY FOR THE PREVENTION OF CRUELTY TO ANIAIALS. LLYS NWI BRANCTrI. CARMARTHENSHIRE TO CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Exp*ndlturn Salatss ojntknue lo represent thg18rge5t ¢alegoryof tharttable expendibjre. Durlng th& year. ￿pen￿rtyre on staff costs amounted to £616,10712024: £615.4161 rn Trlafton lo the dirnct ¢2r• of animals ond th6 •nvlronmenL £762,462 (2024.. £710.5QO) rgk7lng 10 8hop workers. ¢afé slaff and admirmthbon: ond £80,77812024.. £72.265) for the fvndraising team. Tho S￿8r￿S of the Branch Exe￿lIVe ond Fln8n(* Manager are apporfJoned 8(¥088 the vartous aro8$ of bran¢h act{￿baSed C￿ the Proporti￿ of time ded￿ted to eath fvnthn. Support ￿sts also indudg ¢haryBS from tho Nalbjnal Soa&tyto admlnistrafive costs wdated For th¢ ended 310ecemb•F 2025. th6 ¢h8fitygernrated an ww8strfcted surplus, exducltng gakis on invostments. of£144.339. R#serv•• Pollcy Trust maintslns restrt¢ted. deslgnatsd and Uftrestrfc￿ rg¥eNes. R•slrlctAd rese￿5 comwtse a rwmber of indkndual funds held fty specffl¢ projocls, wimarllythosè supported byext8rn* rastylcted purpos8 grants. These funds are rinu-fqnced and no ¢ontribuUon i8 made tOVArtls operational Costs, gxcept where 8xplioty pemiitted bythe donor. The Trusvs unre8trrcted reserve ￿lanc¥ al Ihg Bnd Is £5.938.578. TIMS In¢kHles £3.704,245 rg1914ng to deslgnated fvnds dlocaled to spe(¥fic projects. Theso fimds are detailed in 29 of the aeeounts and are ond mO￿t¢r￿ al Board meetsry. Tho Trus￿5 havg taken th& to nwntsin a rdati4*hrgh Iwef of kwaslmonts. towierwilh substsnti feserves. in ordorto ensure the ch4dty 1$ abb to continue defvieriftg its mtssion of safeguarding charitabfg fvnds. The tharfty adopts an ¢lhlc*l in￿lment wjlw. and all Invosknents must augn wilh these prlnclple& In accordance the SORP. the Trttstees have Idwlified re￿ th# Nindpal rlsks to whlch the ¢harity Is expjsed. Appropriato systems and contro[8 ha￿ been establlshed tg m8nagg trt88e rxks. and IFwar• d regularly al Board meotujgs. Tho Tnths rem*n committed lo d•li¥erlELq anlmal weifwg at Ltys Nini and to opsrètirvJ i5tan¢e sGhwrt*s thK*ughout tho Oxtended br8n¢h area. The tharity Is olso s4iporbThJ a numtKroffood banks *7thin the branch area to htrlp famllles kegp pets Iwmes bywovtdlng essentfal pot food. Thls lwrk undertaken In ojnjunction theAbgr¢onvry Branch. vthtth ct)ordinates a sipnfvnt volume ofth&foDd I￿tion. Tho TTUStees vhsh lo thank pgoplè in¥of%*d In fho food ba￿[ Inlllativ8s induding Rob Davkns and Tracey Clarke. In orderto fflaxlmi8e Income generauon. the charftyplans lo conliryje m8nagNy Ils land for tiodiversltyand to de¥8lop a"green" visftor attradion. inlttatt¥e$ r#)1 utlllsè chwitallo fu￿15 but *il Insttsj rely( mal fundlrvJ sourc09, IndudirKJ SUPPOTL The Tntstees rematn conmlited to envlronfflenlal W￿rk on Site arrfl are collabLY4ti￿ ￿ a rgree of organi5atth)r* to encourage 8ngagem8ntwilh ￿ld1￿8 through ed(Thtlonal events. Th& Swarwa Beakeepers So¢tety continues to operat¥ on sitq vthli e C8tUc WRdfiowers is the Centre fo grow native vAklfltrA*r planls and trees. ￿ntrIbutIftg furtherto biodiverslty beneffts. The rtwitycontiNRs to expkne addttionBI partnerslips that support Ihè $nvlronmontal v8lu8 of thg land. Pago 5 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO MWIS, LLYS NINI BRANCH. TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Golng C¢no•m Thg Tntstees have revlewed tho ¢haWs posltion and cash flow requirements for a period of al lea5112 rnontFks from Ihe dale ol approval of these finandal statements. Wl¥L4t th8 Tfusla&s recognise ongoing economi uncertainty, inftatlonary pre3sures. volatilty in legacy income and cha119nges Mlhln the Charity rolall sector. th¥ charity continutr$ lo maintatn S￿nI[1¢8nI unTestricl¥d r05erves. strong liquidity and substantial inve5tmgnt holdtngs. The Trustees Iherefor¢ consider that the chwity has ad￿vate resour¢*8 to continuè In Oper￿[￿n￿l t81en￿ for the for9sge8bt6 fL*ture and conts'nu8 to adopt the goiThJ basis in preparing thg financial statoments. StNctur•, GOVWnan￿ and M8n•gem•nt Gov•mlnB Document Tho orgAnl$aUon 1$ en unlnwor8ted chorfty registered wlh Ihg Charity Commlssk>n on 21 Aug1ts11963.11 Opgrates as an autonomous brarKh of lh9 RSPCK subject b hs branch rvles las updategl kn 20221. In August 2016 the Trustees obtained an order from the Charitycommssion to incorporate th8 chgrfty trustaes as a body corpor41• under the pow8r given in sectlon 251 of the Ch8rllles Act2011. Thls means th81 aN propety of Ihg ¢harity Is transferred to tho incorporated body. Its gov8mlng docurnent on¢ompa$sgs lh8 Nles adopted on 18 February 2009 as amer#Jed on 8 April 2017. R•crultmgnt and Appokntmènt of PAanagem•nt Commlttee Tho charity is govem8d by a minimum of 5 to a maximum of 14 ofocted TNst895. appointed anThJaty byvrdyof a membevs, balh)t. which 1$ held at the knnual General Meeting. Al trustees are briefed on their resp0nsibilrf￿ as Trusiees by rhe Chair of Trustees and have 8ccesS to the onlirie TnJst8& Handbook and RSPCA gufdelines together th tha 8ppr¢pdat8 CharttyCommtS8ton publlcallons. 1$ no requlr•m•nt fOrtruSt￿ b reurg by All tr￿lee8 are deemed lo bo Th and propor per8ons" ond ellglble to be trvst&es of RSPCA Uys Ni￿. Indurtlon and tralnlxg of Trust￿% Twstees receive training and inductiom as requlred. depending upon thtslr background and thelr Tdes as trt￿tee5 other ¢h8rfUas. Sklll shorlages of Ihe board ore kept under le￿￿ar remew. Organlsational stn￿ur8 The trustees gènerally hold monlhtymeetings atth¢h decisions on policyand pr4otlee Sre made, ￿lch maybe by fo¢0 to face meetlThJs or T¢8ms". The day to day runnSng of the Alumal C8ntre is ddogaled to tho Anlmal Centro ma￿geT. and th8 day lo day runnlNJ Of￿ shops Is dglogated to th8 Area Shop Manager and b the Ind￿l&jaI slK*ps' managors. The Brdnch E￿￿tive and th& Finance Manager are the lead profes￿n￿8. Iw managing the mlddle management t98m 8rrtJ. wilh the Chalr, the rEmning of the bra1￿h as a whol&. A reglstsr of TFU8te8 int8re$f8 b malntained al tha branch and Is available to thg pubfic for r8ViOW. Pay pollcy for Key Management Personn81 The Tn￿l90S consld8r that the senloy managèm8nl team, &)mpris8d of th• kgy managemgnt parsonnol of I charlty, arg in charge of dlrecting and controlllTrJ, Mning and op9rating the branth on a dayto day basis. hjl tnjstees give of thewtime fre¢lyand trustes recewed remunwalion in the year. Detsils of trustèe expenses. key management porsonn81 and related paty transactions are disctosed kn the accounts. The pay of tho s8nlor staff is r•view¢d anNJalty and nomally increased in accordanco vthh av8rag¢ 8amlng5. In vSow of the nalure tsf the chA￿ty. the tru3tees' bendlmark againsl pay levels in olhw tharities of a simlar si 8nd operatiTrJ in the samè The r8munora￿￿ is be1￿hMarktd usThJ rnthgt dats vthlch is r￿ltY Audltorn Tho 8ud6tor, mHAAu0￿ SaNkes LLP, vhll b8 proposed r8appolntmorrt at th8 forlhcomlng AGM. Paga 6 ROYAL SOCIETY FOR THE PREVEpmoN OF CRUELTYTO ANIMALS. LLYS NINI BRANCH- CARIIARTMENSHIRE TO CARDIFF TRUSTEES. REPOWT (COIITINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Chartty Istsr numbgr 224337 PrlDdpal Offl¢e". LIJB NEni Anlmal Centre Penllorgaer Swansea SM 9W8 Chalr PelerBFack Trustog% S81ty Hyman {Chalr)IResign8d 28 Fobruary 2025> Dr Kathorthe Fender {Rest9nod 12 Jun• 2025} Darren Lovering (ReS￿￿ed 12 June 20251 Iwan Ree5 (ReS￿ned 16 June 2025) Howard spen￿ (Resigned 12 June 2025) Aitson Spen¢e IResr9ned 12 Jun8 2025) Robert Davles (Resigned 12 June 2025) Dovian Tw8 (R8signed 12 June 2025) Traegy Clark• {App￿nIed 12 June 2025IIReskned 5 May2026) Sorah Stsltwd IResrgn8d 12 Jur* 2025) R8becca Harpwood (47polnlod 12 Juna 2026) ¢toria Hdland IAppornled 12 Jttsne 2025) Jang CleThnl {Appolnted 12 June 2025) Petsr Black {ChairMAppolntgd 12 June 2025) Claire Chapp811 {AppOÈnI￿ 12 Jung 2025) Chrfs Stokes ICTrwted 28 July20251 Ralph Betlanyleooed 28 July20251 Stepha￿ Grlmshw {Cowoptsd 20 Aprll 2026) Audilors MHAAudll Ser¥Ths LLP MHA H￿$8 Charter Ctyjrt Swansea Enterpmse Park SA7 9FS Bankgys Bardays 8th( PLC 262 Oxfcfd Street SAI 3BR Pag8 7 ROYAL SOCEry FOR THE PREVENTION OF CRUELTYTOANIMALS. LLYS NIPI BRANCH- CARMART TRUSTEES. REPORT (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2025 Itty￿rn¢￿t Idvlsors Estate CapStal 7 Uplands Crè$¢enl Uplanits Swansea SA2 QPA DOI￿ 3rd Floor. 2 Cenlral Square Cardiff CF10 1FS Legal Advlsorn JCP SOl￿tr)Is Swansèa Enterprise Park Venlurg Court Waler5ide Buswi&ss Pa Valley Way Swansea SA6 8AH Koy mana￿1￿*nt P•rnonng1 David Stokes- CEO (Until 31 klay 2025) Gary We8ks- Area Manager lfjm Williams- Reglon&l Shop Manager Cl8lrè Phillips- Branch Fknanc8 Managerl AdlrrfJ CEO Approved by order rfthe members ofthu board of Trust￿ and &gned on their behaf by. q_g. kn26 Page 8 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIPIALS, LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF STATEMENT OF TRUSTE&Y RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Tnth 8ra ￿ponsibl0 for preparing Ihe Twst¢88' r8POrt and the financtal 818temonts kn attoTdanc¢ *ith 8ppllcabFe law ar￿ Untt¢d Ktrydom Accounling Standards (Unlted Kthgdom G0neraltyA￿ep1Od Accounur Practs¢e}. The IHwapp¥¢able to dmritres kn England & Wale8 requiros th8 Tn￿teeS lo prepare finanoal Statemènts for aa¢h financial which give a and fBlr view of the slato of affaK5 of the Charfty or¢d of Its Incomiftg resources and appll¢alion of resources. incfuding Its In¢¢ma and expendth. fly Ihat pfirfo￿ In prgp8rry th08e finondal statem8nts, lh¥ Trustees are roqu1￿* to: solect 8uilable aeoiuntiry P￿1￿e5 and thgn opply them con$lst8ntty. obseFve tht methcxls pihirjples of Ihe Charities SORP (FRS 1021; make I￿19MentS 8nd accountlFVJ estimates that are reason8bl$ and prudert State ￿l￿er appltcable UK Acojunting Stand8rds IFRS 1ir2) have been folhy•*d. suwto any materfal d¥partures dlsdos8d and explained in the finan¢i81 slatoments: propaT8 thg fin8nclal statements on Ihb going con¢em basts unlfj88 It is In4)protMlate to prosume tho Charfty*ll Mnthue kn Ixthess. The Tnjstees 4re forkwlng adgquate accoun11￿ records that are suffiwrt ¢0 sh(rwaNJ 8xFdah) Charitys transactions and disd08e with re8sonobl¢ accura¢y al anytlme the fin8nd81 posftion oflhe Charity and enable them lo ertsure that Ilnandal statements CoM￿Yw[lh the Charlbes Act 2011. thè Charity (Aco)unts and Reportsl Regulabon5 2008 artd tho provtslons ol th& Trust deed. Th8y are also responsfft>lo for S8feguardrng the assets ofthe Ch8rity aThJ hence for regsOnab￿ stOP8 f￿th9 Wev•nti￿ dotsGlton of fr8ud other lTrtyulaithes. TIM InJste•$ arn rosponsbl8fty matntfjn8n￿ and integrttyof tha chatywd fiTran￿ Informafjon induded on the charftys ¥￿119. Legislalion in the Unitod King(hJm govemhy the prwralton and dlssgmlnallon offmon¢tal statements maydrffer from10gLsFation in oth?rjthisdi¢ttons. Apprrt by orderof th& manbers 01th8 board of Truste8s and 8tgnod on Ifs boh*fby. Pag8 9 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIPIALS, LLYS NINI BRANCH- INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF ROYAL SOCIETY FOR THE PREVE14TION OF GRUELTY TO ANIMALS, LLYS NINI BRANCH- CARIAARTHENSHIRE TO CARDIFF Oplnlon We have audited the financFal stat¢ments of Royal Soclety for the Preventton of Cru8llyto Animal$. Nknl Branch- Carrnarlhenshire to Cardiff (the'ch8rity1 lor lh8 yEar ended 31 December 2025 which cornprÈse the Statoment of finandal a¢livJk8. the Balm 81*e( the Stslgment of cash Ilw% and the relalod notes. In¢￿dIng summary of SiWTfi¢ant accounting potiCi85. The Ilnanci￿ reporting fram8work that has b&en appli#d in Ihgir preparation is applKabJe law #nd Uruled Klngdorn AccountsTrJ Standards. includlrvJ Fln8nual Reporting Standard 102 The Financial Reprtrrtlng Standord 8ppllc8ble in the UK 8nd Republic of Ireland, (Unitsd Kln9dom Gen&r8lly A¢wted Accounttng Pr*ctkel. The financEal stalgmtrnts have b08n prgp8red In aco)rdon(* with ACC￿nI#l9 and Reporting by Chartuos preparfry their accounts in accordance wlh the Ftnancial Rep￿thg St8nd8rd$ applicable In the UK 8nd Republte of Irthd {FRS 102) in prefer¢nce lo the Ac(x)unting and Reporlin9 by Charibes: Stat¢ment of Recammended Prncts'ce issued on 1 Aprl 2CQ5 which ts rgfwred lo in the oxtant re9￿all)ng but ha6 been Tlws has been done in order for the accounts to PrO￿de a trua And fair ￿eW in accorilance wlth Ihe Gengral A(£epted Accounting Practice effecflve for reporting perknds bo01r￿ing on or aft&r 1 Janu￿2015. In ow op]rdon the fkn•rrial slatemonts: gfve a tru& 8nd falr viBw oftho state of the choritys affairs as at 3109onbgr 2025 2nd of Its Incomlng reswrc8$ 8n¢J 8prAi¢ation of ra$¢xJrces forthe year tt*n ended: have been propgrty preparod In ac¢trdar￿ with Unlled KiwJLTh G8ner•llyknpted Accounlng Pracllce.. and have be8n PTopared in accordance r8qutrnments ofthe CharibesA¢t 2011. Ba51B for oplnlon We conducted our audlt In accordanc¥ ￿th Inlemational Standards on Audiong (UK) IISAS (UK)} and appllcabfe law. Ow rnspwft>ifjties undgrthDsè standards are lurther descritjed in thè Audrtors, r8sponsibilllkns for the audll of th$ financial statements $4cti(m of our report We arè Independent of the ¢harity in ac¢ordanc* the ethi¢al requlrements thatare relwanl to ow audll of the fI￿ncIal stataments Fn the unl￿ Klngdorn. Fndudlng the Finandal Rgporting Coun¢il'5 E￿C8S Stsnd8rd, and w8 have fuffilled our olhef ethl¢al responslbilues in ac(JJrdaf￿ witt) theso requirements. W8 befieve that the audrt 8Nldenca we have obtained Is sullkloTht and 8pprcprlate to a b8sis forour opinion. Coftduslon$ rel￿￿8 to golng In aui*ling lh$ ffinanual statements. we have conduded that the Tn￿lee$. of the going ￿nCern b8$1s of accountirrfj In the prep8ration of the financial statements is appropriate. Based on thg wodt we hava parformed. ￿ hava not Identsfi8d any matsrfl uncertalntles rolatirvJ to •v8nts or ts)ndiborts ￿1, indmduallyor coifecbvely. may cast $ignffKant doubt on Ihe charity$ abl￿ty lo continue as a going concern for a ofal bast months fvom w￿n ts flnantial 8Liternents ore aulhorisod for Is5UO. Our responsibtliues and lh• r&$w$5bH￿￿s of the Trustees wilh ￿pect lo goFng eoncem are do8utt>od In tho relevant 5ecl1rts￿ of thi8 reporL Pagg 10 ROYAL socIFri FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS. LLYS NNI BRANCH - CARAIARTHENSHIRE TO CARDIFF (COIITINUEDI Oth•r Inforniallon The other (nfomlation comprises the Infom)aUon induded in thg kn￿01 tepcrft ¢thorth8n tho finanod ststsrnents and ourAudltors' report thereon. The TnJ$tees ara responslblg for the othw Infom￿l10n ¢Ontal￿d wlhin the Annu81 report. OurfJpJTrJon on thé finarvsal statemenls does not coverthg other Inf¢rrnation and, oxcoptto tho extent olhorwlse expl1￿1[Y statsd in our Tepor( we thj not express any fomj of assLwanG8 (￿nCluSIon thereDn. Our responsilMIty ts to read the other wrfomialon and. in doing so, considerwhethgr the other Infomiokn is materf8Uy irw)stSlentv￿th Ihe finan￿1 slalements wour kn￿￿￿ge obtsln8d in the course of the audit or oth8Th￿Se appears to be m•teriallyrnisststed. ff we ident4fy such matsrial In¢onststerK*$ or apparent material m￿9(aleMBnts. we aro rnqulred to det8rn1ine vhteth*r this grvtis rlsè to a material mtsstaternant in Iho financ statements th8mselvo3. If, based on the th we have perfoTm8d. we c¢ndude that there is a matsri misstat¢ment of this olher Infma¢bn, we ar¢ r8wir&J to ffjportthal fact. We hav8 nollthg to r•port in this ro9ard. att•r8 on whl¢h w• #e r•qulred to réport byex￿pf1•n We have nothlNJ to report In fespect ofthe fallthwr￿ matters whero the Cherfttes (AL￿UnIS arml Rop)ts) Regutollor￿ 2008 requlres us lo reportto rf. Hl tyjr oplnion.. the Infomiatlon glv8n In the TTU6tW' 15 hKth¥ist8nt In anymatgrfal resF*cI th thg ststeM￿ts. or SLthaent accounttng Te¢ord5 hgve not been kert" or tho financl81 stat•ments are not tr¢ ag￿ement Imth the aC￿untirtg rg¢ords and retum8." IX E hav8 not recelved an tho infwmalSon WKI eWpnatw$ w8 r4ulrg forour audiL R•sponslbllitl•• of tr￿t•?B explalned more In the TnJstees' respon$ll>Jlbes statoment, the TNstees aro r6spon8ibFo preparalion of tho financi￿ statemonts grve a twe and fair ￿¥w, and for such int•rnd control as the TNst¢es detemiing Is necessary to ￿able the prep8Mtlon of ffnancial slatements thatare free materlal mlsstatement. whglher due to ftathl or effor. In prwriThJ thg finan¢lal sl8t8ments, the Trustees are responslbb for assessing th& tharftrfs abillty to ¢onlin a going ¢Dncem, rfisclo$ng. a$ ap￿1¢able. matters related io golw COFUM and Mng the gotng con¢em ba&s ofocwjnthw unles$ tha Tntstees eilher kthid to l*uid¥le the tharty orto ¢ea8e ope¥8tion4 or have nD raaftstic atternative butto do so. Pa99 11 ROYAL SOUETY FOR THE PREVEpmoN OF CRUELTY TO ANIMALS. LLYS NINI BRANCH. IPIDEPENDENT AIIDITORS. REPORT TO THE MEMBERS OF ROYAL SOCIEfY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH- CARMARTHE14SHIRE TO CARDIFF ICONTINUEDI Audttors. rn8ponslbllltles forth• audh of tho Ilnanelal statomont8 We have been appointed as audiior under section 144 of thg CharfU8s A¢t2011 and reF(Yt In accordance with the Acl and relevant reoul8tion$ mado or hawng effect th￿Und￿r. Ouroblectlves are to obtain reasonable assuraw about %thetsrthe finaKlal $tatfjmgnts as a whole are fro from maleriBI misstslement, whether due to fraud or error, ond to Lssue an Aud#oTS' r•prKt that indudas our opinion. Reasonable assurance 1$ a hlgh level of a5swance. bul Is not o guarant¢& that an audit conducted in accordance wih ISAS (UK) Mll 01vj￿ detect a materfal mlsslatement %th¢D it exi8ts. Misstatem8nts Can adse from fraud or érror and are consldeted rnaterlal If. IrHJiii(kn81ty or In the aggregate. theycoukl rèasonably bo expected to inlluence the economtc decision$ of Use￿ taken on Ihe basjs of these finanoal statwnents. Irregularitses. Induding fraud, aro InslanrM of non-L*iance wilh la4vs and regU￿th￿s. We dès•Jn procèthJre8 trt linè ￿th our responslbllflès, outllned above, to detect malerfal mbstatements In reswt of irrogulariJgS, Indudlng fraud. The 0xt￿t to wthi¢h ourprocedures are capablo of dete¢ting ltregularthes. incILEdi￿9 fraud is d4tsil8d belrw. We obtgSn and update our undtrrsknding of the enllty, lis actlvitles. ts control enMrDnmenL and Ilkely fijture dwelopments, induding in relation lo the legal and regulalory framework appficabk arml how th$ entity is Complying Wth thot framewo￿. Based on thb underslanding, w8 idenlfy and &ws the rtsks of material mtsstslement of the financial statemonts, whelh8r due to fraud or error, flesjgn and perftym autht r8sponsNe to Iho8e risks. and oblain audit 8v(donc8 that is sufficient and appropriate to provldo a basis for our oplnion. This IndUd￿ eA)nshJwation of Ihe risk of oots bythe entity thgt were ¢¢￿trary to 8pplic8bl¢ l•w8 and r8gulatJons. I￿l￿ding frduds. In ￿sPans0 10 ths risk ulitregulwhies and non-cornpllanc& wlth kn and regLrl*cTh. fr￿d. we deswjned pro¢&Jwes vthich in¢krded.' Ewuiry ofmanagew>t and Ihoso charged wlth 9owtrmqnce around polential lIU￿tiOn and daims a$ well 88 actual. suspected and alleged fraud; RèvteY*ing mlnutés ol meellngs otthose charged vAth govemance: Ass05sing the extont of compllan¢e with the laws and raguJaUons considored to have a dtro¢t material effocl on thg 11ftgwal slalemtnt6 or ttt8 operations of thg ￿ttythrough enquiryand tnspe¢ion', Rev**•1￿ finenoat 8taternenl disdosures ond tesung to 8upporUng do(xmentstiOA to assess complianc8 wilh oppticotrje I￿ and reguladons", Petforming aud￿ work overth& rlsk of man8goment bF8S and oveThld• ofeontrals, tr￿Uding t8slSng Df loumal entries and oth8r adlustmerts for approwiateness. evAluattng Ihe business rationa￿ of swlficanl transactions outsid• the no￿￿1 course of busI￿sS and reviewing ac£ountry estirnates for lThJirnlofS of potenual blo$. Because of the inherent Iwnttations cl an audit, thefe is a risk that wg Mll not dplect all irregLlorits&s. Indudlng lIK￿8 leading io a matèFI81 mlsstaloment in the fm8neial $tatemonts or nOn*0m￿lance V￿th regulation. Thls risk incrga$os thfy more that camplkince a law or rggulauon Is removed from the events and tran3actions Tefiected in tho financid statements. as we will ￿ les5 likejy to become avrdre of inS￿e8S of nortthcomp11an￿. The risk of not detecting a moterial mjsstalgmtrnl r￿UllIng from fraud is higher than for c￿e resullmg from etrcr. as fraud may involved couuskn. for￿ry. ntsnll¢)n•l omlssbjns, ml$r8pr8sgnWon8. orthe overrfd¢ ol Intemèl Pag8 12 ROYAL SOCIETY FOR THE PREVEIITION OF CRUELTY TOANIMALS. LLYS NINI 8RANCH- CARAIARThENSHIRE TO CARDIFF INDEPENDENT AUDrroRV REPORT TO TME MEMBERS OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANWALS, LLYS NINI BRANCH. CARMARTHENSHIRE TO CAROFF (CONTINUEDI A fiJrth#r do￿pIt0￿ of our rospmslb￿￿eS Ihe 8udtt oflhe financial statements Is located on th8 Flnanctal Reporting Councsfs wpbsrte at M*w.frc.o Audltors, r¢porL . ￿6s. Thi$ descripucffl forms part ¢four Us• ol ovr v•p•rt This repgrt k made sol*to the charitys truste88, as a body. in ae¢tydancg with Part 8 of the Chariues (Accojnts and Reports) Regulatlons 2011. Our audit V+vFk has been ￿dertaken so that we mlghl stste lo the chaWs Iwstses those maltws ￿ are requlred to state lo them In an Audltors. report and for no otherpurwJ$e. To the fuifest extonl pemiilted by IAW, wa do accept or assume responsibility to anJ£y￿ other than the ¢harity and rts trustees. as a body, forouraudit forfhis or ￿the oplnkjns we fomied. Swansga Unrtgd Date.. 12 1&/2 MHA Is thè hdiny nam& of MTr14 Au¢lit Serykes LLP. 8 Ilmltsd {la￿ltyP&￿ersh[p In England arkl Wales (reylsternd number OC455542), Pag8 13 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH- STATEMENT OF FINANCIAL AcThimES FOR THE YEAR ENDED 31 DECEMBER 2025 Restrlct•d Unre$trfct funds funds 2025 2025 Total funds 2025 Total fvnds 2024 Nots Incomg from: Donalons and Wctes Charitablè aCti￿tio5 1,394 22,n6 930.808 159.108 1.372.753 21571 932.202 181,894 1,372,753 23.5n 763,9CiI 369,513 1,340,356 31,736 352,208 Olher tradirvJ fjctknbes Investrnents 11 Olhor incomo Total In¢om• 24,180 2,486340 1510A20 2.857,743 Expendthire on: Flalsing fvnds Cha￿table activloes 12 13 41A69 23,724 1.275.388 1.066.513 1.316.757 1,090.237 1,211101 1.054,920 Total •xpendlturn 2.341.901 1406.994 a268,021 N•t l•xp•ndlluY•)nn¢omo bgfor• n•t galn4 on Inve¥tmonts Net galns on Inv&slments (40,913} 144.339 255,610 103.426 255.610 589.722 114182 N•t l•xpéndltureVln¢om• Transfers beknn fvnd8 (40J13) 1092 399.949 18.0921 359.036 707.9Q4 N•t movement In fvnds b•forn tthr r•cognls•d galnsJlloss•sl 132,821) 391.857 359.036 707,904 0thorr•Mgnl8•d galn811108tt•s): Gains on $819 off￿d assets 1399 Net movement In fup (32.821) 70T,904 R•con¢lll•tlon of funds: TO1￿ funds brought fonyard Nel rnovement in fvnds 1A66.550 (32,821) &541322 396.256 7,009,872 362,435 6.301.968 70T,904 Totsl lunds ¢arrf•d forward 1A34729 5,938,578 7.3n,307 T,009,872 The Statement OfFlnan¢ 81198ln$ and losses fewlsed bill* year. The notss on p8ge8 17 to 43 form p8rt of these financial statements. Page 14 ROYAL SOCIETY FOR THE PREVENTION OF CRLIELTY TOANIMALS, LLYS NINI BRANCH. CARAIARTHENSHIRE TO CARDIFF BALANCE SHEEr AS AT 31 DECEMBER 2025 2025 2024 Flx•d as801s Ta￿J￿0 assots Inveslmgnts 2,504245 1979,513 2.386.080 2 124,034 5A83,758 4.510.114 25 997 1.075.981 1.011,126 27,512 1.086.492 1.654121 C8sh at bank •nd in hand I116,104 Z769.125 CunDht Ilabllltl•¥ Creditors: aM¢)￿ts falling due I￿1h￿ on8 27 (227.$551 (269.367) N•t ¢urrentass•ts 1.888 2,499,T58 Total 4¥5•ts curnnt IlabllSti 7,371307 7.￿9.872 7.371307 7.008872 Charftyfunds Rest￿ fvnds 1833,729 4931578 1.466,550 4543.322 T¢¥t#lfund 7,371307 7.009,872 The fThndal statements were approved and aulh￿Is8￿ for issue bythè Trustees and slgned on th* behalf ty. The Thjtes on pages 17 to 43 fo￿ part ofth88efirHndal statemwts. q}LK75 Page 15 ROYAL SOCIEff FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH- STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Cash flows from OPÈfatlng actlvltlès Nel ￿$h used in operdting activitie5 200.625 506.934 Cash 110￿ from Investlny icUvltl•s Proooeds thè sale oftsno￿le r￿d 055ets Pwchase of tsngible r￿ed 8$sots PuKhB5e of Inv¢strnents Proceèds on sale of Investrnents Investm8nl In¢thm• r8¢8Ned 3Jg9 {271.5901 {700,240) 1600.0001 (65,238) 53.364 31,736 a5n Net caBh u$•d In Inv•stlng a¢flvttle {B44.620) {40.3761 C•8h trlows from flnanclng acllvlu N•t proVkI￿ by Ilnan¢lng acllvltl•s Change In cash and ¢ash ￿Uly•10ntS In th• yoar Cash •nd ca$h eqthalents al the bwnnsrwa ofthe year (643,99¥ 1,65&121 426,558 1.22&563 C*th and ￿8h •qulvalonts at tho •nd ofth• y•ar 1,011.126 1,655.121 The notss on pages 17to 43 fomi of these fInaT￿￿￿ slatements Pagg 16 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS. LLYS NINI BRANCH- CARMARTHEIISHUIE TO CARDIFF NOTES TO THE FINANCIAL STATEMEiirs FOR THE YEAR ENDED 31 DECEMBER 2025 G•hwal Infornwtlon Royal Soc4ety for th9 Preventton of CNeJty to Anlmals, ￿ Nlnl BrÈrth- CaFmarthenshfrn to Cardiff Is an unlncorporated choytywhose F￿ncIp￿ office Is Llys Nini Anlmal Centro. Penlwor, Svrnnsea. SA4 9WB. Accovntlng poll¢les 11 Ba81¥ of prnparntlon of fin#nclal st•toments The finanei81 statements have been prepared in a￿￿rdance wlh the chaiivs go￿rn￿g ￿C￿ent. th8 Chariues Act 2011 'A￿)Unting and Reportlng by Charftie5: Statsment of Recommen¢Jed PraclrL* applicable lo c*art&es preparfng their ac￿￿nts In x¢ordanc8 vthh th¢ Flnanaal Reporting standard appltcablo in th8 UK aThl Repubilc of Irelènd (FRS 102) {9ffeCli￿ 1 January 2019).. The chadty Is a FlJbli¢ Ben8fft Entity as dofin8d by FRS 1￿. Tho finan¢f81 statemenl are propared kn slerfkng. vthl¢h is the functional ujrrew of the dwrfty. M¢xwtary amounts kn trthe financwl stat8monts am munded to th8 nearest £. The )Inancial slatoments have been prepared under the hislorlcd ￿st Converth￿. modw to certsln Ilnancral Irtstrum8nts at fairvalue. The pr￿￿PaI acc￿￿thI9 poftrjgs •Joptsd ar8 Set outth. 2.2 Golng canc•rn Tho Twstees have reviewed the charitys poslkon and cash fiow rgqukenwts for a perfod of at Ewt 12 months the dal? of apprtsval of these 17r￿ne[al statements. Whw the Tntstges reo)gnlsg ongotng gconomlc ￿certaInty, trJfJafronary pr0S3Ufg$, volalilty In 18ga¢y Income and Ch￿renge5 within the charity ret8fl sector. the charty eontinuos to majntain s[gnifi￿rt Unr86t￿ r88erves strw and substyntial Investment holdings. Th& TnLstses therefc￿e conskler that Iha cha has adequate resources to conlinue In operalonal existen¢9 for Ihe foreseeable fijture ￿ conllnue to adopt tho going concwn basis In PFepar#ig the financfal 81otemonts. Z3 ChattAbh funds Unreslrithl fund8 are ￿l￿b[e for use at Iho dwTOfkni of the tru8teeB In furlheranc¥ of th* ¢haiitabl8 014eclive8. D851grwt8d funds ¢tynprfso fundg which h•v• been set ashje at the dts¢rthon of the trusl88s lor sp8cffitt puwes. The purp0608 and uses of Iho designated funds ar¢ sel out in the notes to th• nanclal statements. Restrkted f￿d5 arn wbJect to specftle COnd￿on¥ by donors as to they may bg ￿80d. The purpose8 and uses ol the r8strKted funds are set out in the notes to tho firkryn(ial $fatemonf& Pago 17 Roy￿ SOCIETY FOR THE PREVENTION OF CRUELTYTO ANIMALS, LLYS NINI BRANCH- NOTES TO THE FINAIICIAL STATEIAENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Acmuntlng poll¢lo$ (Mntlnuodl IA Ineomlng rasourcos All inojme is inclvded on the Statement of Finan¢lal Actswbes when th8 chadty is kg81ty entrfled to thè tnciTho and Ihg amount Can ￿ quonlfflefi with reasonablè accuracy. Wher8 grants are 8ubS9Ct to perform$n￿ retaled tyjndillons, Ih8y 8T0 recognlsed In Ihg Statoment of Finan¢ial Activit[8$ based upon when the pwf0m1an￿ rolated condltions have bgen me( in Ilne vAth the Slatement of Recommended Praclit%." AC￿vAti￿ and Reporting by Charibes. Cash don4tions are recognis8d on recapt. Olher donthns ar* r8¢cgnlsed onc8 tho charity hgs b#on notified of the donation. un1885 perfomHnce conditrons reqwre deferral of the amount. Income tax recoverable In rejation to donations recelved (rnder Gift Aid or deads of covenant is recogr¥$ed at the Umo ofthe donatton. L￿?¢18$ •r¢ recognised on r•¢gipt or otherwise K thg charfty has been Th)tsfi8d of an Impending dlstrfbution. the aMoL￿1 1$ known. and recejpt Is waded. If the amount 1$ not knovm, the legacy I treated as a conongwt asset. Dorthd servkes and facilitses ar& tnduded al the value to the ¢har¢ty knr9 thSs can be quantified. The value of s8rvlc8s provld•d by volunteers has been induded In th8se 3c¢ounts. Donated goods aro r8crYJni58d at thoir vafuo wh8n tho $49 lakBB place. In¢omg from charitable tradlng actlvlties represent fees • In respect of Ihe adopllon and tr98trftonl of anlmals. caf8 income, thè PTovi8lon of boaydkng facifftsBS and clalm faes for r¢o)vered pots. thBsB Ino)m8 stroams aft credited to the Slatement d Financial ActivitiBs in the y8ar In vhbich Ihey are due. Incom¥ receFved in advance Is defetted to Ihe apwoprfotts ffin8n¢ial >tar. Charfty shop and other mlwtlanoous In(Th)e18 reLwnlsed in ts pertTrJ ￿en tha $818 takes Flac&. Rentsl and sdar Income 18 recognssed in Ihe p0rkK4 b) the sorvlca ts provldod. Intw8st on funds held on deposit Is induded w￿n receivatA• and the amount can b8 m8awrèd relPdbly by the charitr. this is r#)rmalty upon notifKation ofth8 intgr•st patd or payabl$ by the ban Pa90 18 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TOANIMALS. LLYS NINI 8RANCH- CARfiARTHENSHIRE TO CARDIFF NOTES TO THE FINNNCIAL STATEAIENTS FOR THE YEAR ENDED 31 DECEMBER 202S Ac¢ouTrtlng pollclgs (¢ontl•ugd) 2.5 R•$0￿￿# oxpendod Eynditure is recognSs8d once thore is a *81 or constructive obligation io transfer •conomlc baneffl to a Ihird paty, It Is pr[￿able that a transfer of 0¢￿(X￿[C benefits wlll bo wured in setttame￿, aThl the amount of 0￿¢gatIon can be m￿Sured r81iabty. Expgndlbjre Is ¢ts$Sifi￿ by acO¥ity. The ts)sts of ea¢h aciNty are made up of the lotsl ofdwed costs and shared costs. Indudlng $upptrt C09ts invow In undertak5ng ¢ach athlty. Otre¢t Costs a￿1bUta￿$ to a so￿• actiwty are aNo¢•ted dlrecuy to Iha 8Ctwity. Shared costs vknlch wnthbute more than one actmty and SUP[￿ costs which are not attrfbutable to a single a¢tMty ar¢ aPPOTticThd on the ba8¢5 of time spenl, and deweciatlon charoes are albcaled on the porlion of th& assefs use. Exp8ndituro ￿ recognised onc8 th8re is A legal or u)n51Ju¢bvg obltgatton to make a paymert kn a third paty, tt 1$ proba￿8 that seujement w￿1 be required 8ThJ the amount ￿ the objwotron can be measwed r8llably. Costs of ralsiTrw fvnds ¢omwrso of the costs In relallcm to generalirvJ income such a8 frJndralsh ¢&vities. Expenditure on ¢harkab￿ indudes ai costs I￿8￿ng to thg furth8Msx of tho obJacbve5 as Stat¥d In thè trv6teès rwrL Irrocov6reblo VAT is clwged as 4 C￿1 agalnst the ac¥￿ty10T expendlturo was i1￿TrOd. Al costs ar• 8lbxated beiMwn the expendttyjre categories in th# Statement of Fh)anciaJ kbv5bes on a basls de3lgned lo rolled tha use of tho resource. Costs relaffng to a p8rttcyJlar8cbwty ar• allocaled direGUyvthle Oth¥￿ are apportioned ￿ an apwopriate basis, &s sel out in thg wjpport (xjsts nots. Support costs are those r￿cl10n$ that assbt the wc4* of the Ch￿ bul do rnt dK¢¢ty undwlake ¢haritabfe a¢lviUes. GL)veman¢e ￿ c4xnptse all o)sts invdvlng pubEl¢ accounlabllmy ofthe ¢haiity and Its comp1Jan￿ wth regubtioR and good praotice. Pag• 19 ROYAL SOCIETY FOR THE PREVEp¥fioN OF CRUELTY TO ANIMALS, LLYS NINI BRANCH- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollclos {contlnu•d} 2.6 T•xallo The Charity is considered to pa$¥ the lesls sgt out in Paragraph 1 S¢ledule 6 of Ihe Flneffj¢e Act 2010 and therefore it meots th8 defintOon of a ctbJritabl& eompany for UK corporathjn tax puJposes. Acrmdingly, tho Charity 18 Potenllalty sxempt from Wion In respect crf income or capilal gains received vAthln cat£gories covered by Chapter 3 Part 11 of the Corpor8lfon Tax A￿ 2010 or S8clion 256 of the Taxation of Chargeable Gains A¢t 1992, to the extent that such Inc>Jne or galns are Appl￿ •xdLtsivetyto charflable purposes. 2.7 Tanglble flxod w¢ts •nd dopr¢elatlon Tanglbl¢ r￿ed assets ars inrfid￿ recognIS￿ al ¢05t. Aft8r recognftion. undor tho c05t model, tsnglblg xed assets are mgasurod at cost198$ accumulated depreclation and any ac¢umulatsd Impal￿Ont 105se5. AJI costs incurred to bring a tsr¥Jible f￿ed ass¢t into Its intonded workinu ¢ondibc>t) are Included In th& mè8suremenl of ￿91. DeW¢datsC￿ is dwrged so as to alknal& tho of tanty￿e flxed assgts I￿& thelr widual valu• overthesr esllmated useful lfves Dapr8clth i5 provkl8d on th# foifovAng basss: Freehold land Bulldln9S Bulldlng improvements Motor vehicfes Fixtures and fftOng$ Clinic equlpmont - 2% p8r annum $tralght lthe 10% per annum straight line - 20% per annum strai9ht line - 4_ 33*A per annum Stra￿h1 fw - 10% per annum redudng balanc• Gains 8nd1058es on disF4xals are deterniined as the drfference bgtsyten Ihe salo wocegds and the catyng valve ol the asseL and15 recc¥Jnlsed kn th& Statement Of Thoan¢ial Adiwties. Bulding6 under ￿l￿trUctiOn are accounted for at cosl, bosed on thrp¢l LThts Inwffed. They ￿ not )rec4ated until the accounllng wiod in vthich they 8ra brought inlo u$0. 1nd1v1d￿l fixed *sots cos¥ng £250 (Including VAT) or more arn ¢Wised at ¢>Jnt offfjr￿. Prepayments 4r8 valued at tho amount prepakl not ofarytrade dlsg)unts due. 113 Llabllltlos and provlslons U8bllm83 are reeognised vth¢n Ihere 1$ an oblwon at the Baf8nce $l*et date a$ a result of a p&8t evgn( il Is probable that 8 transfer ol o￿nOmI¢ benefft be Tequlred In sotllement, the amount of the selttement can ￿ ostimated roliabty. UabtlJes are reo)gnls&J at the amtjjnt ttb& Chadty anttdpatss K WAII payto Sothe the tsbt or thè amowl it h&5 as advanc8d pasqnerts for Ih goods or 80pkns it must prridg. Proviskn$ meastr¢d al Ihe bgst esb'molo of the amounts r8qulred to 88tk Ihe obllgatKffl. Where the •ffe¢t of thelkng vatue of mon&y Is mat*ial, the pr￿10Th Is based on the PTeSWrt valug of fhose aMO￿ts. disL>Junl8d at the pra-tax d[s￿￿￿t rate that rell6cts th& tsk$ 8peufic to the Ikbility. Ths vAnding d th¥ d*count Is rewnlsgd in the stateme￿ offffi￿ClaI a¢tl**itiBS as a financg ¢08L Page 21 ROYAL SOCIETY FOR THE PREVEiifioN OF CRUELn TO ANIMALS, LLYS NINI BRANCH- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 A¢¢ountlng ￿11¢]•* (¢Ontknu￿) 2.14 Flnandal htstruThnts The charity has elected lo appty the provisions of Section 11 '8aslc Financial Instruments, and Sgcllon 12'0ther Ftnancial InStruM￿ts Issu8s' of FRS 102 to all of its fmancial Instrum8nts. Finandal instrumènts are rn the charitys balan¢8 sh•¢t 7thon tho charfty paty to Ihe contr8ciu81 provtsiorts of tr* inslNmenl. Financial assets and11obilitspB offsat. with tho not amounts prnsgnl8d li the finanod staternwts. when th8re is a legalty enforceable rtgm to 581 off the recogni$￿ amounts and there 15 an int¢nlion to settlo on a nèt t￿1$ or lo reaUs8 tho asset and selU• thg l￿b￿lIty simultaneously. 84$1¢ Ilnanclal assets Basic financAI assets. which IrKI￿1• debtorn and cash and bank balances. are Inlbafty measured at transacrfon prtce Indudrng transa¢llon costs and are subsequendy carried at amorfised cost uslng th8 eff8dvè rnterest methr#J unlass tho arrangement con8Ulute8 a finandng transaction. where th8 nsaelion is measLtred at th6 prnsent valuo of Ihe future receipts d[s¢￿￿ted at a m8rkel rats of InteresL Flnancial assots dassified as recelvablè Wbttun one year ars not aM￿tised. D•r•eognitron of flnanelal Flnan¢Tral assets are dwni5ed onty when the ¢ofttrath81 rfghis to thè ¢ash ftows from the as¥fjl oxpire ￿ are settled. or*then the charfty tr8nsfern thè financLg1 asset 8nd substanllalty dl the iisk and fewards of ownersfrup to another onlity. or rf some sIg￿¢an¢ risks and rovraTds d ￿￿etshIP are relained but ￿ntrol of the asset has transferred to anoth•r paty that is ablg to sell the assgt In it8 enbrety to on unrelated third party. Ba$k flnanclal Ilabllftl Basic finandal Ik4biTtbes, inc4udrKJ cr¢dilors and bank loans Inllr• recognls8d at transa¢tson ice unléss Ihe 8ffangement cA￿s￿lUteS a financing tran￿¢tIOn, where tho debt Instrument is measured at tha preS￿t Val￿ ol the future pawn¢nts dEscounted at a market rale of irrteresL Finandal liabilllies classrft8d 8$ pasBbl8 vAthln ono yw are not amortw. Debt i￿trUM￿n￿ are subsewonty 8tantsrUsed cos( using the 8ffective Inter￿1 rate mèthod. Trado crndltOF5 are obllgattons to Pay for goods or that have t*n awirod In Iha 0￿￿nary course of ¢Jperations fr(th supplters. ATrounts payable are classffied as cutrtsrrt liabilitt•s ifpayment 1$ du& within one year or less. W not. they ore p￿ented as non-cuThènl Ilablliues. Trad& creditOT¥ ars recognised Initialty at transackn prlce 8n(J 8ub8equentJy measured #l amortw u>st uskvj lh& effective intwl method. D•r•cognttlon of flnandal Ilabllltl85 nancial Ilabil￿e$ •r8 der•cognls8d vthon tho (*ariVs conlradual obll9attons expire or are dLschorg8d or ¢an¢elled. Pagg 22 ROYAL SOCIETY FOR THE PREvENT￿N OF CRUELTY TO ANIMAIS. LLYS N1141 BRANCH- CARMARTHENSHIRE TO CARDIFF NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Ac¢¢M¥ntlng poll¢les {contlnu•d) 2.15 Employe• b•n•flls The o)sts of short-tenn employee t>enefts 8re rwni8ed as o Irabiftyand on expen88. unlgss Ilyxe costs are requlred to be r8ccgni58d a$ part of the cost otstock or ILxgd 8888ts. Th8 cost of any unused hollday entillfjm￿t is r8cogntseif Sn the perictya in vthith Iho wnploye8'$ s￿¢¢¥ are received. Tem)ThMtson benefits are recogni8￿ immedi8t¢ly as an aypnso th the dwrity is demonstrably ¢¢)mrrtttod to Iwmlnate the employment of an employga or lo termknauon beneflls. 116 Rellrnment b•n•ftts PayThents to d•fined conlrlbuuon reurgment tr￿¢fft schemes we ch8rg¢d as an axporw as fdl due. Rontals payoblg under oporatkng I￿$05 are Charg￿ to e%F*ndltt*e on a 8trdght bAsi8 owr tt IBrm ofth8 relevant Rentals due und8r operatlng Ioasos are ¢harged to tnc¢mo a slrntght Ilng basls over tem of tha rglevant le8Sè. Crltl¢•l accomtlng è6llmat•¥ and arn•• of Judg•monl In the appl1¢8kn of thg charitys a¢wunllrvJ pcAieies. the trustees are rewir4d to mako ludgmonts. estNTrates and gssumplknns about the canylng amount of assets •rxl HablllU85 that are not readity apparènt from othor sources. The estlmates and a$so¢i￿ 8ssumpttorts 8re based on hk%lorkal eyrTBnc• and other faclors that arg ¢on$id8T8d b) b8 reIov8nL A￿81 may dilter from th6s8 esbmales. Th8 osUmateB and assLThPtlon arn femewed on an ongthg b8sls. R¥visio￿ to ac£ounbng oslimai95 reLwnised in the pariod in whith Ihe estimatt is revlsgd where tho revision affeds only that period, or in tho period of lh9 revi8b)n ond fu￿re pwiod8 ￿tsre the rwtsion •ffects both ojttenl and fulute petti)dg. Tl* (*8fFtydoes not have any koyor srgnlffcanl arcounttng •8thn8tes. Roy￿ SOCEfYFOR THE PREtrENYION OF CRUELTYTO ANIPIALS, LLYS NINI 8RANCH. NOTES TO THE FINfvJICIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2tyI5 R•e4m￿lIall0Tr of not mov•m•nt In lunds tr• n•t ¢a¥h Ilowfrnm op•rntlng actfviths 2025 2024 l+Jot trwx¥no for the j￿r la8 P8r Statement of F￿1￿￿41 Activilles) 359.036 707.904 Ju•tmerts for. Depredation ¢harges Galn on investrnents DivKlgnd¥, intgrests and ronts from Invgslmonts In Stocks {In¢roasel l De¢rease in debtors Incr&as￿(de¢r88￿e) in creditors 153,424 110,845 (25S.610) (118.18 123A40) (31,736J 11.4851 (4390) 10,511 (159.443) (41,811) &936 Not pmlded by op•r4tlng Ktlvlll•s 200,625 506,934 Amlysis of Cash and •qulval•nts 2025 2024 Cash In hond 1.011.126 1,654121 Total oash and eatth •qulval•nts 1.011,126 1,654121 of ¢httnq•s In n•t d•bt At31 J•nu 2025 Cash flw• 2025 Cash at bank ar￿ kn haTr 1.655,121 {643.995) 1.011,126 1,fj54121 1643.99¥ 1.011,126 Page 24 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO AIIIM*LS, LLYS IIIt41 BRANCH. CARMARTHEIISHIRE TO CARDIFF NOTES TO THE FWMICIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 kn¢om• from dgnalloiy• and l•gacl•• 2025 2024 Donlltsons Legacies 215J25 714877 142,516 621.384 9W02 763,900 Charll•bl• actfvlll 2025 2024 bons, cf•hnlwJ & ￿￿$¥n￿ Clinlc & miscdlanetyjs rfjce￿ts Grarts 60.184 221,517 10,460 131,536 114.174 181.894 369,543 Totsl fund5 2025 RSPCA Camwthenshlre Branch Transfgr Resfyydgd Unrnsfrided fvnds funds 2Q4 2024 2024 RSPCA C*marthenshtre Branch Transfer 351.746 462 352.208 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTYTO ANIMALS, LLYS NINI BRANCH- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2025 10. Inv•stm•nis funds 2025 fund• 2025 Money rnarkel interest Interest re¢eivable 3.729 19.842 19,842 23.571 23,571 funds 2024 2024 M(mey market Inteftst Interest ro¢8ivabJe 4.382 27.354 4.382 27.354 31.736 31,736 11. Oth•rtradlng •ctlvhl•s 202$ 2024 ChAdtyshops Speclal eVer￿S Caffi Ninl Rent Income Mlscellèneous 842.330 151.988 247 910,491 130.155 174682 8f.706 39.322 1.Jn,753 1,340,356 Paga 26 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS PINI BRANCH- CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 IZ Costs 01 r•lslng lunts R•strlctsd Unrestrlctod funds fund8 2025 2025 Totrl d$ 2025 Rent. r8108, f￿ht & Hgal InsuMnc• Malnten8nce and r8palr8 Waste dfsposal and cleanlThJ Other shopKundTalslng ￿$ts StBff costs Shop goods for rwlo Postage. 3tatfonery8nd tslephone Investment rnan8gem8nl Share of support czlsts Share ofGovemance costs 217R1 7.469 50.013 26.041 41.118 827,344 63.627 217.521 50,013 26,041 41.172 8¥156 63027 4547 6.812 3.￿3 31.500 26,764 9.945 58,264 41,369 1.27&388 1 J1¢767 Total fund$ 2024 funds 2024 2Q4 RonL r*es, Wt & Heat surnnce 206,521 206.521 Malntènance and r8pal Wasts dl$pos81 and dèanlr Other ghoF¥Yunthal* C4 2.595 39,933 14916 35.744 779.253 59.667 6.600 3.747 4&9Y8 9.674 18.916 33,148 779,253 57.072 5.858 3.T47 815 7,T92 Z596 Slw gC￿￿S for feEa19 Potstsge. Stati￿ryand lolepho Invesknenl management Share of $upportcosts Share ofGo¥emaiKe ￿sts 2,595 2163 1,882 IZ633 1,200,468 1,213.101 Page 27 ROYAL SOCIETY FOR THE PREVEKfioN OF CRUELTY TO ANIMALS. LLYS NINI BRANCH. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ÉNDED 310ECEMBER 2025 13. Anatysl$ of èxp•ndlturn on ch•rltabl• acllvltl•$ Summary by fund typp R•8trl¢t4d Unr•strl¢tod funds 2025 Tolal 2025 2025 stèff oists. staff tralnlng, slaff unrfonn RonL rates, Ibht and heal Insurance Maintenance and repalrs Waste disposal and dganlng Td8phone Travel aTrJ $ubsistonce, mIscel￿ne0u8 ¢)S￿ bad debt Shop gwds for wdale v￿ fees. mediane and welfare costs Food and pot$up￿￿OS Postap. s1oUon8ry. oJmput¢i costs and advoitising Share ofsupport oysts Share of govemance cosls 627.268 43.186 7.917 32.208 19.283 8.406 3.202 12,410 140.736 32.342 12,526 127.646 16171 627.￿8 43,186 7.917 32308 19,283 8.406 1.142 12A10 141.757 31342 11526 141590 1.021 617 23.724 1.066.513 1.OYO,237 Pap 28 ROYAL SOCIETY FOR THE PREVEpmoN OF CRUELTYTO AMIMALS, LLYS NINI BRANCH. CARPIARTHENSHIRE TO c￿DIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIIBER 2025 13. AMly8ts of •xpondlturn on ¢h4rftabb *ctlvlll•s (eontlnu Summary by type l¢ontlnu•d) ds 2024 funds 2024 Totèl 2024 Staff costs. staff training, staff unrfonn Renl. rates. light and heat Insurance Maintenance and repalrs Waste dlsposal and cleanlng Totephone Travel arKI subsisten￿. mlscell8neous ¢osts, bad debt Shop good$ for r&8ale V¢If￿. m8dione and *Blfar8 CC Food arkd p8t suppllas Poslag¢. *lion8ry. comp(rfer costs and ad¥orli8ing Share of supwrt costs SharB of goveman¢e £¥)sts 601.901 45.277 4. 158 20.496 34437 7,901 4.812 14.867 128, 121 27.205 624,486 4r.277 4,158 21,636 36.437 7.901 4.812 14.867 128,121 1.140 51,965 8,392 79,149 (8.392) 131.114 86,082 968.838 1,054.920 Pagè ROYAL SOCIETY FOR THE PR￿lmON OF CRUELTY TOANIIAILS, LLYS NINI BRAN¢H- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14. Support cosls Support Govorn￿¢￿ ¢o$ts 2025 Total 2024 T•tal Depwiation 88nkJCrodlt ¢8rd ¢h8ry8$ Professlonal charges Contrlbulton Eo HQ Audlt fees Twstee e￿nSeS Outreach wo Accoun16ng fees 153.424 18.6¥2 34.425 153.424 18.692 34.425 55 15,900 677 617 131,409 15.556 29.343 785 12.100 15.900 617 3,834 21.028 207.092 228.120 194858 Analystd bthi¢•h Fundraising Charitabl& Actlvlugs 58,502 148.590 207.1192 9.867 11,161 21.028 159.751 228.120 139,206 1¥858 P8g8 30 ROYAL SOCIEff FOR THE PREVENTKIN OF CRUELTY TO ANIMALS. LLYS MNI BRANCH- CARMARTHEHSHIRE TO CAIIDIFF NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR EMDED 31 DECEMBER 2025 1& Staff Casts %r24 Wages and saEario8 Soclal se¢uty ¢08ts Other pension ￿sts 1384.171 134,978 37878 1.273.128 34.219 1N57,127 1.398.181 The averag8 number ofperson5 ￿nproYed by the Charity during the yw wa8 as f￿10￿￿. 2V45 No. 2024 67 The avorage monthly number offull Ilme equtvatent d￿g the ￿waS. 2024 Management •dminlstration Anlmal LYO 31 No empbjws receNed 9mplo￿8 ben•fft8 of moro Ihan £60.000 exdudtng omplayer NIC & empwr penston. The charity was asslsted by volunteers during Ihe y¥ar. Tha benéft of the volunt8?rs are not quantiffed and in Ilno ¥￿th tha requkemonts of tts SORP. thjs amount has not bèen rgcogrmsgd wtthln the ao))unts. Page 31 ROYAL 80CIETY FOR THE PREVENTION OF CRUELTY TO ANthlhLS. LLYS NINI BRANCH. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 17. Spllt of audlt and Mnwoudlt wr¥lcos 2025 2024 A¢o)untan 1900 13,01)0 1.375 10,T25 15XIO 1& Trust••$' r•mun•ratlon and ben•fils rhere wero no trnslees. remunerollon or olher benefits for the y￿r ènded 311)ecember 2025 nor lor the year ended 31 Decambgr2024. 19. Tntyt¢•s' •xpon$e¥ One Twstse was rolmburBed £1.119 for disbursamonts made on behall of th& rharity (2024: Ono Trustee was ￿1mbL￿r$$d £2M15). 20. K•y manag•ment p•r••nno1 Thg kgy managamont p6r8onnel of the ¢harlty In 2025 and In 2024 are the Branch ExacuU¥a. the Branch Financ8 Managgr. the Centre Managsr. Ihp *￿ea Shop Managèr and tho truste8s. The lotsl ern￿oYe• co3ts ofthé ernplosws deemed ts bo key management personnol was £196,44612024.' £182.354}. N•t galn81110*¥*3) ofi Inv•stm•nls UnrthrlGt•d unr&s￿eted nds 2025 fimd$ 2024 Mov9ment in invgslmgnts 254610 11a182 P•Jg 32 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NW BRANCH- CARUARTHEIISHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 TangH>￿ flx•d #Bsots Fv•ohold land & Flxtur•s ¥nd cllnk bulldlngs fftllngs oqUIpn￿t v•hlcl•s Cost orvalu•Uon At 1 Jarwèry 2025 Ad¢H Dispos* 3,166,220 400 1,079,516 263.515 (3.886) 412S 08￿14 7.675 (11250) 4J18,675 271,590 (16,136) At 31 Docemter2025 3.166,820 1,339.145 4,125 64239 W4.129 Deprèelatlon Al 1 January 2025 Clwge forthe year 1￿81077 79,210 813,081 72.679 (3,886) 4125 34512 1 J31595 153.42$ 116.136) (11250) At 31 D9￿Mber2025 1.161,087 881,874 4125 22.798 2m.884 N•t book v#lu• A* 31 D•¢ornb8r2025 2.OQVJ3 4SY271 41A41 1504.246 At 31 Decem￿2024 Z084,343 264435 35.302 1386.080 Flx•d ofj••t Inv•slm•nts Inv•*tments funth 2025 C08tlValuatlon As Et 1 JanLTary 2025 Additron Valuation ehangat Cash movurt￿tt Ol$posar 2.124.034 1124.034 600.000 .610 255.610 (131) (131) Total ￿25 2.979.513 1979.513 P890 33 ROYAL SOCIEry FOR THE PREVEIITION OF CRUELTY TQANIIIALS, LLYS NINI BRANCH- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 In￿ments 2024 funds 2024 Costlvaluatlon As at 1 Janu￿2024 2.005.852 2,00&852 57,62aJ 57,624 99,308 99.308 7.612 T,612 146.362) (46.36 V•lu8tion ch•ng8s Cash movement Dfsposal roW2024 1724.034 2, 124,034 24. Fln4nclal Instrumgnts 2025 2Q24 Flnanclal as8•ts FinanrAal aS￿ts moasured at falrvalu9 through In￿me aTrJ exp8ndth 1979A13 2,124,034 stocks 2025 2024 28J97 27,512 X Dobtorn 2025 2024 Du• wlthln on? y•ar Trade debto Othw d&btoYs Prwwnonts 8nd 8ccTued income Tax [￿verable 34251 T16 984,835 10.119 223.961 56.677 805,854 1,075￿81 1.086.492 Pago 34 ROYAL SOCIEfY FOR THE PREVENnON OF CRUELTY TO ANW, LLYS NINI BRAIICH. CARldARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 CrndltorB." Amounts lalllng du• wlthln onè yoar 2025 2024 Trad8 tteditors ot￿r taxation 8nd soctal s9CVrty Other Ixedilors Accnrals and de￿rred Incoma 80.939 47.780 109.752 30.980 107.841 227,855 269.36Y 20. D•l•rr•d Incom• 2025 2024 PaJTh¥nt In advw for thnts 51 128 128 Defeff¢d Income ¢5 Indthd•d in tho firujdal 8t0t￿ents a5 folows: D8feffed Irtcome is NKluded W￿[hin Cunent ￿abilitI05 51 128 Movements in the ￿ar. Ikfeffed Income as at 1 Jgnu8ry2025 R&leaséd from prn¥￿8 p8rfod$ Resources deferred in the ￿ar 128 (12B) 51 52073 152.873) 128 Dalgrrgd incoftig a¥ ot 31 Docombgr 2025 Pago 35 ROYAL SOCIE￿ FOR THE PREVENTION OF CRiIELTY TO ANIMALS, LLYS MINI BRANCH. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEIIBER 2025 Rottr•mont ben•fft $¢h•mes D•lln•d ¢ontrfbutlon schwn• The charitr/ operates a defined contnljutlon penslon scheme for ai 9v8h￿'n9 employees. The asset of the $ch#mé are hekl sèparately from those of ts charity In an Indgpondenty administered fund. The charge to the Statement ol Finanual Acbytti¢s in resp#t of defjmd ¢onlribulon scheme9 Was £37.97812024: £34.219). Amounts outstan¢thnB al the ￿¥rend totslled £12,92012024.' £12.621). Pagg 36 ROYAL SOCETY FOR THE PREVEpmoN OF CRUELTYTO ANthINLS, LLYS NINI BIIANGH. NOTES TO THE FINAJ4CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 St*•m•rt frffunds Statomffit oltsnds.curr•nt yo•r Balan￿ 4t 1 JaTh￿ary 2025 Balaneo at 31 Trnnstsrs GaIn￿ Dtrethibor Inlaut (Lo8s•s> 2025 Ineom• EXpondI￿r• Unr8strlct•d fund$ D951gnatsd fund• Sly rent C8rdiff rehmtng facillty 600.000 Fixed asset fund 138¢079 Centre twrddo 100.000 20D.OQO 200.IXIO 500,*XIO 2,501245 500.000 118,166 4QO,000 1186.079 518,166 Gon•rnl funds General Fund 2,357.243 4486240 11311,901) 15242581 259,009 224333 Unrnstrf¢tqd fund$ 4541322 2A84240 (2,341.WI) (&092} 259.009 5.938.578 Pago 3T ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI 8RANCH- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 30. Statern•nt olfunds (contlnu•dl RgStrfct•d funds Capital grdnt Pats 81 Home Playyround Shelter Pet Plan RSPCA 342.841 (ISA81) (400) gAOO 8,636 11 292) (1701 C8rmarthenshir8 Branch Trdnsfer 351,182 17211 350.461 RSPCA Cardiff & Dlstrict Bran¢h Welsh Govgmmgnl CommunTty Grant (YsgubJr) National Loitgry- Ysgubor Nat40nal Lott•ry- Volunteer grarf( Moondan Foundation Wales Tourist Board Ysgubor- Aoondanl Nalional Lottèry- Award forall Baihy Thomas (Ysgubor) Potplan {Oog run) Herila9e Lottery (to commen Jan 2024> Landfill (Solar panels on Ysgubty) Oakdal&- Café frt￿ngS 4.0110 235,200 110,0001 385,737 (10.375) 369.362 (193) {2.000} 38.000 14,323 11,4321 11891 17.60D (000) 16,81XI 1.8OD (4001 1,200 19,200 4,700 (8001 1200) 18JOO 4500 8,163 {102571 42.300 (1.8001 40AOO 590 16.837) (200) (1,7721 1,1TT IA86.$50 2<180 165.093) 8.092 1h33.n9 Page 38 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMPLS. LLYS NINI BRANCH- CARaiARTHENSHIRE TO CARDIFF NOTES TO THE FINAN¢IAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Shop r•nt Commttments on rentsl pa￿nellts for th6 Yarths charity shops lea*J by the charfty. Funds to be rd¢ased r4ulre<1 by tha ¢hw CardRllrohomlng facillty Tha Tntslees have dèsigned fLmds to invest in a r4-homirvJ Cantrg In Cardrfrto Inueasg their woffl• %*ifhl th8t¥rea. Centr• upgrado Genero1 upjrade lo Ihg anHnd a¢¢ommodattM as ng(*ssary. Relates tc+ the nat book Val￿ of the charws Uftrestr￿ r￿ed assets. PA¢)vemont relatss to addrlion4 dlsposals and deiyttiabon In the year. Trarthf•r4 Adthlional fvnds have been aljocafed to designat•d fvnds to cover the exped¢d addittO￿al in tho Centre upgr8de for the foll￿￿￿ year. Restrkt•d funds oth•r In¢kffled wthn othor res1ri(led grants are f￿r0￿ng. ixvr Communlty Gr8nt £260. Coop £917 CapKal grant A pr*t to bulld a new anknial centre at Lfys Nini Fam, ts Svansea Shop. upgfade tr> Centrg 81* ntro Vel i¥ink. The grant is beiny released to unre5trthJ fu￿ in lin wilh th• deprectouon poLty. Pets at Hom• This fjjndlry relatos to vou¢h&rs provlded by Pots At Hthne to Fwrchase gryjds the anlmèl& at thè Playground Sh¢ltsr Funthng prowded ty M￿)￿Jd yr Gwalr to wJv*J8 sheltsr and 80afjThJ fa¢ll￿ users of Ihe *yyrwnd and thBtr parents. P•tpkn TNS want Wos recelvod to contr￿Ule to tho costof offluent pla Natlonal Lottery Awards forAII Grant r¢celved to assist the purchase of a coffee pod. Irt¢ome reieased to unr8strlcled resoNes exF*d8d or if ¢apitalisgd, In lin depreaation pok¢y. RSPCACardlff & Dl¥trl¢t Bran¢h Resarve tral￿f*fro￿ frcffl RSPCA Carthfi and Dkntrtcl branth to purthasg anlmal woifare gqubn8nl lor Cardrffdistsi¢t. Moohdan¢• Foundgtlon Grant weived to èssist tho pU￿￿a$a of afflu8nt plwrt. Grant ts to be rel?￿ed lo ur¢estrk*d res in line with depro¢lation poltcy. Pago 39 ROYAL SOCIEfY FOR THE PREVWION OF CRUEL￿ TO ANIMALS. LLYS NINI BRANCH- NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEMBER 2025 Ysgubor A project to bltlld a Visltor CentrdCafelDonation hub in tha ￿ Nini grouTrJ, funded ty grants from Moondance £20,000, WeEsh Gcvernmenl Q50.000. National Lottery £217,021, Bailay Thomas tharitablo Fund £20.000. Th8 Dog Ru Gover¢d run bulld grant receive(l from Pets at home £10.01￿ In¢ome to bo released In tkne wlth dowoclavon. Natlonol Lott•ry.Award8 forAII Grart rwivod lo asslst the purchase olthe effluent pr￿L Grant Is to be relèased to unrostrthd r6s8Nes in lino Wth depreciation policy. Lott•ry Grnnt Croeso grant ￿lCh purchased and ewlpm9nt to w81¢>)m$ back th8 volLrteer. Incomè lo bg roleased in Ino vAth depreciation. He￿tage Lothry Grant Grant Incomg ret4gntG6d relat88 to travd, promotlon end stsff expenses. The malorty of Ihe gr8nl has betrn deferred du¢ to the perf(*mance conthtron relatkng to the emp[L￿ent of a CoTnmunity HeiitO99 Engagement Offi¢¥r being mat in J8nuary2024. Wal•s Tourf¥t 8oard Grant In¢orne Tew&s¢d ￿ line d8preciaUon. Grant award8d lo covar Iho cost of ts per￿19 in$tsllalvJn on thè torrace outstde Coffi Nirm. Pag8 40 ROYAL SOCIETY FOR THE PREVEimoN OF CRUELTY TOANIIIALS. LLYS NINI BRANCH- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 31. Summary of funds SUMM￿ at fvnd#- ¢urr*nt y•ar Balaneo at 1 January 202S B•lanu at 31 G•ln81 D•¢emb•r ILossos) 2D25 Transfgrn Inlout In¢om• E¥pondlturn Destgn8b fur•Js 3,184079 GenBr81 funds 2,357.243 ReSlri¢t￿ funds 1.46¢550 51B.ie6 2A8W 11341.901) {$26258) 24180 (65.093) 8.09Z 4704245 259,009 1234.333 1833,7 7.009￿72 2.510.420 (1406￿94) 259.009 7.372.307 of n•t a$80ts b•tweeTr funds of not •888ts betw••n funds. ¢￿￿onI yoar Totsl fvnds 2025 fvnds 2025 T4Wle fixed &88ets 2,504,245 2.504245 2,979.513 1979,513 682.375 2,116,104 {227.555) 1227.55• Current assots Creditots duo *lthln ono y¢ar 1.433.729 Totsl 1.433,729 5.93&578 7J72,307 Pagg 41 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTYTO ANIMALS, LLYS NtNI BRANCH. NOTES TO THE FINANCIAL STATEMEè¥TS FOR THE YEAR ENDED 31 DECEMBER 2025 32. Anatyslts of net ass•ts botwe•n ￿ndS {contlnu•d) ATralysl• of not atssots ￿(We¢R fund8- prf•i y•or Restricted Unrestrl¢t8d funds funds 2024 2024 Tot81 fund$ 2024 TangiNe fix*J essots F￿ed as$81 In￿1￿9￿1$ Current assets 2.386.080 2,386,080 2, 124.034 2,124,034 1,302,575 2,769,125 (269,367) (269.367) 1,46a550 Creditor5 due wilhln on9 year Tolal 1.46&550 4543.322 7.009.872 Conllngerf •¥$•t At th8 balanco sheet dat9. th9 ch8dty has bB0n notiw of legaaes the amount lo be receivod by th8 Charity is uncertain in rsgards to probate, estate yalLMti￿S and possible dams whl¢h Impact th8 mlng ond amount of roceipt and therefore c8nThA be fellabty mwured. No income has beon rewnisad tn a￿￿on¢8 %%iU) the Charlties SORP {FRS 1021 to thgse legad8S. Op•rntlng 1•*8• commlbmnts At31 De(￿lber 2025 the Charity had commllments to m&kt fLrtLre mlniFnum lea$8 payments under no cancelLible operating leases as follows.. 202S 2024 Not laler than 1 >ear Later ihan 1 year arml not latorthan 6 yea 84S13 70,942 1U960 150,455 P￿9 42 ROYAL SOCIETY FOR THE PREVEMTKIN OF CRUELTY ro ANWPU, LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2025 35. Lessor X the reporting end dale th& Charity had contracted te¢*nts for the foltowing minlmum lea50 P8ymgnts: 2025 2024 Wthln one Jtar Belwegn two 8nd fv8 y8ar8 oVerffi￿ yoaTS 33.000 13111110 2TI.750 132,QlO 310.750 442.750 474750