Registered number.. 00816674 Charity number: 237696 The Raystede Centre for Animal Welfare Limited (A Company Limited by Guarantee) TTUStees' Report and Revised Financial Statements For the Year Ended 31 March 2025 These revised financial statements repla￿ the original financ4al slalements for the year ended 31 March 2025 whi¢h were approved by the Board of Trustees on 29 September 2025. The revised financi81 statements have been prepared as al the dale of the original financial statements and not at the dale of revision and accordingly does not deal with any events between those dates. The original Statement of Financial A¢b"vtb"es did not ¢ompfy wrth the Ststement of Recommended Practice 2019 due to a material misslalement in the allocatson of expenditure beb￿een Raising Funds and Charitable Activities. These revised f1nancial statements corred the all¢)calion of expenditure in Raising Funds and in Charitable Activities. within the Revised Statement of Finanual Activities. which now agrees lo the amounis Originally within note 7- Analysis of tolal expenditure. The Raystede Centre for Anirnal Welfare Limited IA Company Limited by Guarantee) Contents Page Reference and Admlnlstrat5ve Details of the Charity, its Trustees and Advlsèrs Trust•es' Report 3-16 Indèpendènt Auditors. Report on the Revised Financial Statements 17-20 Revlsed Consolldatèd Statement of Financial Activities 21 Consolidated Balance Sheèt 22 Charty Balance Sheet 23 Consolidated Statement of Cash Flows 24 Notes to the Revised Financial Ststements 25-48 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Reference and Administrative Details of the Charity. its Trnsteès and Advisers For the Year Ended 31 March 2025 Trustees D H Jones, Chair H M Tracey, WI￿ Chair and Honorary Tfeasurer S Derrick C A Brown M Macphail IHAKerr Dr S A Leggett S L Wright H Paxton D l Laramy-Binks lappoinled 5 September 20241 Company registered nurnber 00816674 Charity registered number 237696 Registered office Rayslede Ringmer Lewes East Sussex BN8 5AJ Chief executive officer S R Smith Honorary positions Palron-in-chief Andrew Blackman, Lord-Lieulenant of East Sussex Honorary Presidènt Morgan Williams Honorary Vice-President Jonathan Vine-Hall Indèpendent auditors Krèston Reeves Audit LLP Slatulory Auditor 37 St Margaret's Street Canterbury Kent CT1 2TU Page 1 The Raystede Centre for Anlmal Welfarè Limited IA Company Limited by Guarantee) Rèfèrènce and Administrative Details of the Charity, its Trustees and Advisers Icontinuedl For the Year Ended 31 March 2025 Bankers National Westminster Bank Pl¢ 11 High Streel Lewes East Sussex BN7 2LH Solicitors Adams & Remers LLP Trinity House School Hill Lewes Sussex BN7 2NN Knights plc 3 Neplune Square Edward Street Quarter Bnghton BN2 OAT Investment manager Charles Stanley & Co. Limrted 55 Bishopsgate London EC2N 3AS Page 2 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustaes. Report For the Yéar Endèd 31 March 2025 The revised financial slalemenls have been p￿pared in am)rdance with the accounting policies sel out In notes lo the accounts and cornply with the Chantys goveming document. the Companies Act 2006, the Charilitrs Act 2011 and Accounting and Reporbng by Charities." Statement 0¢ Recommended Practice applicable to charities prèparirng their accounts in accordan￿ with the Finan￿al Reporting Standard ap ￿lcable in the UK and Republic ol Ireland (effective 1 January 20191. Our Vision, Our Mission and Our Values Raystede's Vision A wodd where animals are understood and (ared for vAth respect, compassion and kindness. Raystede's Mission We give animals new beginnings and better lives Ihrough rehoming, rehabilrtats.on and sanctuary. and give people the support and knowledge Ihey need to treat animals with care and respect. What is Raysted¢? Rayslede is your IfKal animal welfare chanty. based in cenlral Sussex and working throughout the region. Our locus is always on each animal-s needs, firsl and foremost. We aspire to the highest animal welfare standards and offer specialist care and rel￿ming for a wide range of pets and animals_ We also rescue animals at risk or support rwple who are no longer able lo ¢are for their animals. Sometimes il ss better for animals to stsy with Raystede in our sanctuary. Nobody else locally cares for the same range of animals and offers the same scope of support. Our site is open to Raystede supporters and offers a chance to share the natural surroundings the animals we care for call home and support our work. It is not a zoo. a fami, or a fun park.. it is a tranquil place many animals call home. Raystede is a place where adults and children alike can learn about animal welfare. It underpins our education programmes on site arsd in the communrty because we are passionate about the animals at Raystede and about effecting longlasting change in how we all care an¢J respect animals. Raystede's Values Carin &com assionate.. we take gwd care of animals and help other people to take care of animals too. with empathy and without judgement. Committed.. we are committed to giving animals a ￿tte1 lrfè and helping everyone respe¢l and care for animals. Professional." wè aspirè lo thè highest stsndards of profèssionalism in every aspect of our work and encourage the same in others_ Passionate." we are passionate about our work. our learn. our community,. about sharing OUT knowledge.. in our belief that all animals should be free lo enjoy the best possible quality of life while bringing joy and fun to our lives. Ins o.. we aim to inspire oursefves and others wth Ihe work we do to give animals new beginnings and a belter life. Raystède's dèsired Long-TÈmi Impact and goals Animals in Stsssex have a good life. and people are supported lo achieve that. What we will do.. Prevention.. we prevent poor animal Welfa￿ Ihrou9h education, advocacy and campaigns. Support.. we support pet owners lo provide a good lrfe for their pets and keèp them in the horlle when appropriate_ Carè." WÈ caré for animals by developing weffare stsndards. rehabilrtab"ng. rehoming and providing sanctuary for them. Page 3 The Raystede Centre for Animal Welfare Limited A Company Limited by Guarantee) Trustèes. Report Icontinuedl For the Year Endèd 31 March 2025 Structure, Govemance and Management These consolidated accounts In￿L￿e the adivrties ol Raystede Centre for Animal Welfare Limilecl, Raystede Animal Services Limited and Rayste(le Centre Construction Limited. Raystede Centre for Animal Welfare Limited was incorporated in 1964 and operates Rayslede's charitable activities 11 is a company INO. 00816674} limited by guarantee lo £10 per member in addition lo a registered Charity (No. 2376961 govemed by Memorandum and A￿deS of Association. Raystede Animal SerVi￿s Limited (No. 031823651 Wds incorw)rated in 1996 to operate Raystede's comrnercial trading activilies. The principal actiwties of Ihe company are the operabon of shops and cafe facilities. and provision of ￿ematIon services for arhimals. Rayslede Centre Collslrucliorb Limited (No. 048389191 was incorporated in 2003 and operates as a general commercial company to assist the Welfare and Services activities and facilitate buildiThJ projects as ￿qUIred. The company is currently dormant. The Council of Management lalso referred to as Board of Trustees) has a minimum of 5 and a maximum of 10 Directors. The Artides of Assooalion were revised in 2019 to change the teTm of service of tnjstees lo a maximum of 9 years made up of three teims of thiee years subject to some specific exceptions. Key Management Personnèl Thè Council of Managèmènt is rèsponsible for the rrkanagement and financial affairs of the Charitable Company. Thè Trustees Iwho are also thè Directors. of Raystede Centre for Animal Wetfare Limited for thè purpose of ¢omp3ny lawl aTe the Coun¢il of Management_ The Board is supported by a full b.me Chièf Exe¢utive and a senior management team. to whom day lo day operational management deusions are delegated. Our staff and volunteers are essential for the delivery of a high quality sery1￿ both for animals and people and we currently131 March 20251 have more than 317 volunteers who regularfy help Raystede both on and off sile. Al the end ol March 2025. we had a lotal 01149 employees1110 FTEI ol which 39 were on casual conlracls. Of our contracted stsff. there are 60 people who WO￿ full time hours. Our organisational structure and management structure is as follows.. The Board of Trustees meel in lull bi-monthly wth other adthoc aThJ planned meetings for strategy. finance, income generation and bu(Jget matters. Page 4 The Raystede Centre for Animal Welfare Limited IA Company Limitèd by Guaranteel Trustees. Report (continued) For the Year Ended 31 March 2025 Recruitment and Selection of Trustees Procedure Should a vacAncy on the Board of Tnjstees arise. the Board will adverts.se the position and also consider individuals who may have been identified as potential candidates wa contacts_ Potential candidates are sent an application pack with a skill-set audit to determine how the candidate's skills complement the existing Board's current and future needs. Candidates selected will be given a tour ol the site by the Chief Executive and then intervievwed by a panel of at least Nyo Tnjslees including the Chaiman lo ensure best candidate selection. When selected. a candidate will then be prowsed lo Ihe Board for coopting or appointment. Raystede values diversity as an important factor for accountability and public confidence and we will seek to maintain diversity across our Council of Management. We undertake assessments of the existing Trustees lo identify what skills are required by Ihe Counal of Management lo perfomi effectively. and wheiher there are any gaps. We use Trustee "role descriptions". or similar guidance. fo provide prospective Trust*s with a balanced account of what the role ol Trustee entails. induding their duts.es and responsibilib.es as a Trustee. We ensure that all new Trustees are aware of the legal rules on eligibility to servè as a Trustee, bearing in mind that it is a criminal offence to serve as a Trustee rf disqualified from doing so. We follow Charity Commission published guidance on our obligations lo check the eI￿lbIlIty of new Trustees and on specific recommended checks we need to make. We have arrangements in place for identfyng arKI managing conflicts of interest and ensure that new Truslees are aware of thèse arrangements. Induction and Training of Twstees Procedure on￿ a potential Trustee is ¢oopled or appointed they will meet with the Chief Executive who wll provide an overview of the work of Raystede_ All Trustees are invited lo meet with key member5 of staff and lo discuss all aspects of their work during a lour of the ￿ntre. Regular visits and communication are always encouraged to ensure Tmstees can develop their knowledge and understanding of our work. An induction pack for potential Tnjslees containing a range of documents including the Charity's goveming document has been prepa￿d. Aso, all Trustees are provided wrth relevant Charity Commission publications on the legal duties and responsibilities of Charity Trustees and the Charity's Govemance Framèwork. Al Trustees are invtted to undertake regular training and development ￿ lated to their role. Over the past year, Rayslede Trustees have attended the following training= Charrty Trustee inductionlrefresher Irun by NCVOI." a nalional conferen￿ for Chaiity Trustees. Govèrnancè In earty 2018 Raystede fomially adopted a Governan￿ Framework to cover all aspects of the Board's responsibilities. The Board of Trustees agreed in February 2018 to havè a fomal review of the Charity's Articlés of Association lo address recommendations made in the Charity Govemance Code issued In July 2017. In December 2018 at the Annual General meets.ng the members voted to update and modernise the language used in the Objects of the Charity which was subsequently approved by the Charity Commission following a separate Extraordinary General meeb.ng on the 25th of April 2019 lo agree fninor modifications recornmended by the Charity Commiss40n. In addition. Twslees length of tenure was capped at 9 years. service13 x 3 years). A Finan¢e Committee has been established which meèts at least 4 limes each year. An Incomè Generation Committee was established in 2024 to meet at least 3 b.mes a year Page 5 The Raystede Centre for Animal welfa￿ Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl For the Yéar Endèd 31 March 2025 Public B*nèflt The Board of Trustees has due regard of the Charities Act 2011 and the Charity Commission guidan￿ on public benefit. This is reflected in the review of the 8CtNitie5 of the Charity wntained in this report. STRATEGIC REPORT Oblectives and Activities Rayslede was foimally established Fn 1952. It was fom)ed with the charitable objecls lo prevent and relieve cruelty lo animals and lo proled them from unne¢essary suffering and to promote and encourage the love of animals and of their proper care and treatment through example and education_ Our charitsble activities to deliver Ihese objects have always broadly fallen into three categories.. 1. Rescuing and rehoffling animals. 2. Providing san¢tuary and lifetime homes for animals in need. 3. Offering education and ￿aMIng activities to prornote anirnal welfare. Raystede gives animals new beginnings and a better lrfe through rehoming, rehabilitation and sanctuary. People are given Ihe support and kno%￿edge they need lo treal animals wth care and respect_ We want lo ensure that animals In Sussex have a good life. and people are supported to achieve that. The general approach ol the Charity is that domestic pel animals are taken into care at Raystede when they can no longer be rared for by their owners or they are deemed to be abandoned or stray. Once evaluated by trained Staff members, they are placed into homes as pets via a prO￿sS of adopts'on, or in the case ol our equines by loaning which leads to adoption. Some animals cannot be rehomed or takè a long time to rehome so. if able lo thrive in our care, they are offered a sanctuary home al Raystede for as long as it Is in the best interests of their welfare. At Raystede. sanctttary applies particulady lo tortoise, terrapins, and ex01￿ birds from the parrot family. The need lo keep abreast of current animal weffare besl practs￿ and behavioural support, p8￿C￿ladY in relation lo dogs Gonlinues to be important and Raystede ensures that appfopriate standards are both maintained and irnproved. Enrichment activities have been embedded into daily wetfare routines to ensure that the highest standards of welfare are practised. Our education and prevention programme is an increasingly important focus. covering key animal welfare lopics and operating broadly in five ateas". In a formal context with educational institutions. either on site or through outr8a¢h or career-based leaming. Through our wellestablished community education programme, which seeks to tackle key welfaie issues al the centre of local communitses where help is needed most. Through our thriving on-site visitor eduration programme of talks. lours. events and experien￿S. These continue to evolve and be refined by activty and audience. We use our website and other digital platforms lo influence change and pmmole high welfare for pets. Wilh potential adoplers through highly targeted events by species. We have a special and much-loved site in East Sussex, which we use to ftjrther our ch8rttable purposes, to engage with Ihe local community and to maximise our income. We have tradib"onally operated commercial businesses such as a café and shops on the site to raise money from gèneral visltors for the Charity. Ouring 2024125, we continued to open new charity retail shops and now have 4 offsite retail units in Lewes, Uckfield, Hailsham and Eastboume. Further shops will open over the next 2-3 years. Page 6 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report l¢ontinuedl For the Year Ended 31 March 2025 Rayslede also runs a highly regarded and much-loved pel crematorium business known as Peaceway5 on land nearby to the main site. In 2024125. Peaceways cared for 1.291 pets and their bereaved pet-owners. Rayslede has many wonderful and loyal supporters who give generously to the Charity. Legacy in¢ome has traditionally been a key source of income and this remains true today We work hard to retain and develop our loyal supporters at the same time explore opportunib.es fgr new fvndrai5ing activity to support our work To this end we invest In fundraising. working within an agreed strategy to help Greate new income streams. Vve maintsin elhiGal standards in our fundraising practices and have developed a Gode of Gonduct lor all areas of engagement with supporters and donors ensuring that we are both transparent and aligned to current best practice within the regulatory framework. Raystede's donor charter is as follows-. We promise never to give. swap, rent or othefwse pass on personal details lo other Ihird-party organisalions. We afways welcome ¢ommuni¢ation with supporters and promise to respond to all queries in a timely rnanner. We always act wth integrity. We guarantee that all donations we receive will be spenl in a manner that is deeffled to be for the maximum benefit of the animals in our ca￿. We will always endeavour to act in a ilansparenl and open fashion with our donors. We constantly work to ensure our administration is as efficient and costeffective as possible. We wll always act in accordance with our mission to gwe anirnals a better life through rehoming. reh2bilitation and sanctuary and gwe people the support and kno￿edge they need to treat animals with care and respect. Where third parties are employed as fundraising partners they a￿ always Contractual in ordef lo ensure that they are compliant wth all regulations. Where possible. fundraising is led by our staff. Third party companies specialising in the renial of data are not currendy a part ol (Mjr fundraising acb"vity. The Charity has received 4 complaints regarding its fundraising ath"vib"es during the year. These we investigated and resolved. Achievements and Pèrformance Animal welfare, animal care, rehoming. sanctuary and veterinary As we move further away from the COVID pandemic. we conlinue to see a retum to more 'nomal' animal intake and adoptions, allhough this reGovery is slow and continues to be hampered by the ¢osl-of-living crisis, including energy prices. The past few years has seen a 'crisis in the animal welfare sector generally and for Raystede il has impacted anirnal intake. rehoming. operational costs. income generalion. staff and volunteer reGruitmenVrelention. While the operabonal impad of the COVID pandemic in 2020 continues to lessen each year. the result of increased animal acquisition during the pandemic and subsequent lockdowns. particulady of dogs, has continued to have a senous effect on our ability to rehorne animals. Over the past year. we conbnued to receive far more requests for dogs to be surrendered into our care than we were able to assist with due to there being fewer homes available, and also ihal the nature of the dogs we were asked to assist continued to includè many with serious behavioural problems Oespile this, we were able to rehome 15V4 more dogs than the previous year, Contrary lo trends seen in other rehoming organisations. Although we were impacted again by the introduclion of Avian Influenza reslriclions towards the end of 2024125. the ovetyll effed was less than the previous 3 years. We were able to increase the number ol fowl assisted by Raystède through inGre8sed collaboratson wth the British Hen Welfare Trust_ We also saw a 141Vo increase in thè numbèr of ¢hiGkens rehomed directly from RayEtede this year Compared to the prevsous year. Page 7 The Raystede Centre for AniTnal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl For the Year Ended 31 March 2025 We hosled community outreach veterinary days during 2024125 which enabled us to microchip 41 cats and vaccinale 43 rabbits. Cat microchipping was seen as a particularfy important focus lo ready owners for the start of compulsory cat micr￿h1pplng in June 2024. During 2024125 animals undef the care of Rayslede averaged 420 animals per month (these were not 311 physically on sitèl. Below is a chart showing animals which Come tK)Ih in and out ol Raystede in 2024125 and the previous 3 years" imas knmas IN 13) 119 Cats X2 211 anirnas 5T4 16 ln 141 ui Turapins 13 16 18 TOT Rehoming of small animals remained similar lo the p￿vIOuS year although this was again in the context of many other organisations struggling in these areas. so the resulls feel positive. A new indoor rabbit la¢ility becaffje operational last year whiGh has given us more borKling areas and space for ind(K)r rabbits. Cal adopb.ons were 21Yo lower Ihan the previous year, in part due lo an increase in weKare standards but reduction in capacity on-site for kittens. Vve did, however, see a reduction in our average length of stay for cats, from 41 days in 2023124 to 37 days in 2024125 whith is pos¢iive_ In May 2024. we were thrilled to open our new Project Terrapin which is a facility designed to provide sanctuary housing for unwanted terrapins that a￿ othe￿iSe frequently dumped in ponds and other water bodies. As well as providing sancluary f￿ terrapins. the projecl has an important educabonal fo¢us to inform people not only of the difficult needs of terrapins as pels but also oiher exotsc species and to discourage such complex animals being obtained on a whim or wilh lack ol knowledge. We We￿ able lo accept 83 terrapins into the Project last year. with a total future capaaty of 300. In 2024125 we continued to make improvements lo welfare standards to ensure animals in our care have as many positive expertences as possible leading to a Pts51tive menial slate_ This not only ensures animals in our care are as well supported as rK)ssible but also allows such standards and thinking lo be showc35ed to the public that visit our sile. Regular review of our siandards ensure5 we conb"nually evolve and improve as new information that supports the welfare ol animals comes to light. In addition to animals rehomed. Raystede also assists a significanl group of animals that cannot be rehomed or may tske a long time lo rehome_ If such animals are able lo thrive in our care. they are offered a sanctuary horne at Raystede for as long as rt is in the best rnterests of their weffare. Sanctuary applies parti¢ulaTly lo tortoises, terrapins. and exotic birds from the partot family. To demonstrate our wider impact. below is a representats.on of animals 'in and out, of Raystede combined with the total number of animals receiving signifi¢ant assistance from the charity in 2024125. In 2024125 we assisted a lolal of 1,964 animals which is an 18°/o rise compared lo 2023124. The figures for both years do not include any Education outreach work and reflect only the work of our animal care, rehoming. and veterinary teams. Page 8 The Raystedè Centre for Animal Welfare Llmited IA Company Limited by Guarantee} Trustees, Report l¢ontinuedl For the Year Ended 31 March 2025 Our definitton of anirnals assisted is.. All animals for whom Raystedè has made a iangible benefrt to their livès ￿ that through rehoming. sanctuary. vetennary treatment. assisting in collaborats.on with other organisations, small animal bondings. preventing the surrender of Ihe animal or otherwise improving their welfare. These are interventions that wa know have had a positive impact on the animal's life. Irooyls 1a) 1T3 cais gnall 312 411 Aiarybirds 1T3 r￿￿¥tUr￿￿e Fbrseslponiesldorl¢ eePI￿a￿Elp&Cg TortOiseslt#¥apr Idlife ¢rt 121 774 l116 1.512 Edu¢atitsn. learning and prevention In 2024125 we continued lo develop a varied programme of p￿VentiOn and educabon activity. We have moved away from hosting large sch¢)ol groups on srte. opling inslea¢J lo engage with this audience Ihrough outreach and career-based leaming. We now have a well-eslablished programmé of ticketed onsitè educAtion evènts that conts'nue to be offered at no charge to attendees. In addition. our community outreach activity grew, reaching and engaging wth more than 2,500 pel owners. Our visitor engagement programme, encompassing Family Leaming Days. species-specffic open days, and the Daily Tour. has also grown_ A total of 9.078 indiwduals partiapated sn these events in 2024125. The introduction of an additional small animal-lhemed event contributed to an increased output. Building on this sucGess. we plan lo introduce dog and cal-themed open days in 2025126. Our schools outreach service remains in high demand. We engaged wlh 1.703 children in 2024125. This achievement was made possible by offering an assembly option that effeth.vely delivers key messages lo larger audiences. Working with imminent dog adopters remains a priority for us. We firnily believe in the importance of adoption events and the valuable infomation they prowde for potential adopters and wntribution they make lo improved welfare for dogs. To increase participation, we have begun offerin9 places to individuals who have not yet formally applied to adopt a dog, but who are considering acquiring a dog as a pel. Our community education & prevenlion programme has seen significant grovrth, expanding from 45 events in 2023-24 to over 60 events in 2024-25. This programme continues to help pet owners in hard-to-reach communities aC￿sS support with basic veterinary care, dog behaviour consultation and general advice aboLJt pet acquisition and c2r8. The ways in which we have s￿n￿can{1Y helped pet owners through our community progomme are detailed in the table below". Page 9 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantèè) Trustee5' Report l¢ontinuedl For the Year Ended 31 March 2025 Community0￿reach 202W25 TOTAL NUMBEROF EP4GAGEMENTSlorihe year 2 25.. 2.5e4 people Typeol En VET.. ernent Cats Welghtadvlce Neutering Microchipping Vaccineltleds 570 adv4GÈ orchecks 21 Feedln DI 12 Dental 119 192 Other BEHAVIOUR- 19 Cat Rabbits Other Behaviouradwce 370 Trainin advice Diet IrcLJted to b¢haviour Equiprn¢ntlEdu¢4tign ondin IntTO&lO Other petslhumans Other 23 tbt2 Dog3afe education RAY5TEDE'. Adopt50n Surrender Raystede visiladvi¢e Cai Rabbit51 ￿her 121 li 15 'Please nole that sorne individuals ieceived advice on multi Èn ed is lower than the total numbèr of èn ements. le t-related issues meanin the number of eo The Educatson team has worked very hard to develop ways to effectively evaluate Raystede's education programme and demonslrale impact. We have implemented and are using a toolkn't which helps us to do this and have developed a dashiK>ard which show5 how close we are getting to our intended outcomes and strategic goals. Other achièvements During the year, the Trustees continued lo rewew and discus5 a range of strategic issues induding animal welfare. education, wsitor operations. income generation and markets"ng. Since earty 2021. we have been reviewing Raystede's pay poli¢y and approach to staff reward in general the results of this project were first implemented in July 2022 and 3 new pay poli¢y was agreed. The pay policy was further progressed in April 2023 and April 2024 with another ieorganisats.on of pay grade and points. This irnportant project has enabled Raystede to recruit and retain staff as well as lo have a lair reward package. In addition. we have prioritised developing volunteering for Rayslede and we now have a greatly increased number ol volunteers across the charity1317 volunteers at end March 20251. Visitor operations onsite during 2024125 were affected by a number of factors induding bad weather. very hot weather and Avian Flu restriclions. Our Aviaries and Sanctuary113kes area were again closed to visitors for some ol the year. Visitor fooNall 164,362 visitr>rs in 20241251 was ijp on the previous year and as budget￿. It has been agreed that the visitor operation has 3 purposes which need to be carefully balanced education & leaming," engaging with supporter5 and the loGal comrnunty.. generab.ng financsal benefit for Ihe Charity. The Charitys fundraising and legacy slratwjy was hjrther progressed in 2024125 and achievements included another significant Increase In the number of committed regular givers. The fundraising plans partly depend on recruiting a team ol income stream specialists and staff recruitment has conbnued to be challenging over the past year. More than 900 Raystede Friends. Animal Sponsors, comrnunity supporters and olher donors attended specially organised events on site. Additionally. 369 people came to Raystede for the day as part of corporate volunteering groups undertaking tasks on ihe main site and at Peaceways. Page 10 The Raystede Centre for Anlmal Wemare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl For the Year Ended 31 March 2025 The strategy for commercial and trading acltvtties was developed with the aim of expanding activities away Irorll the main Raystede site and other traditional commercial aclivity'es. Our flagship store in Lewes remains very successful along with subsequent shop openings in Uckfield. Hailsham and Eastboume. Online trading was further expandèd through investment in eBay. A separate marketing function has been eslablished within Rayslede and a Head of Marketing was recruited in 2021 who has undertaken research and produced a marketing & PR strategy to support our key strategic and operational objectives. The Marketing Team has focussed on our digital marketing. resulting in growth in soGial rnedia follower5. increased reach and engagement. improvements to our website and an established emarketing programme with an audience of around 27.000 contacts. The marketing learn have also been using PR more proaGtively to raise awareness of OUT work. During 2024125, Raystede featured in 28 local radio interviews and 3 TV features. We aim to position Raystede as the 'expert voice. lor local animal welfare in the media and in our local community io false awareness of our work. Thts generates knowledge, trust and engagement, Ihus generating more supporters, donations, volunteers and olher opportunities for people to gel involved with Rayslede. fta￿tede has Gontinued to benefit through public support from our Honorary offI￿rS. We a￿ proud to receive the patronage of the Lord Lieutenant of East Sussex. Mr Andrew Bla¢kman. and we enjoyed his visit to Rayslede in 2024 when we were able lo show him the new terrapin project. The Chief Constsble ol Sussex. Jo Shiner. visited Raystede in 2024 and she has also agreed to act as a Raystede Patron joining our Patrons Tim Cobb DL and Gus Christie DL. We also have a number of hon￿ary Ambassadors who help Raystede in many different ways, using their conlacts, ideas and influence to further our aims. Financial Review Raystede is financed through. and dependent solely on. the generosity of individuals to continue to deliver ils work in animal welfare and education. It receives no National Lottery or Govemrnenl funding. The group incutTed a deficit of £1,433k before investment losses. compared to a deficit last year of £332k. Fundraising income increased overall by 22°A against last year. showTrJ growth in regular giving of £124k resulting from our investment in face-to-face dorbor recruitment. General donats'ons increased by 520/0 against last year, following a successful 4wntèr campaign and 3 rise in contactless donations. delivered 10 events in our Challenge Events programme and saw inwme increase by 82OA against prior year to contribute £59k. Incorne from Major donors and Trusts fell by 42 lu lo £54k whilst corporate income continued to strengthen due lo an increased focus on networking and Telalionship building. Cash received from I￿acleS fell significantly during the year bringing in £785k compared to £1.865k in 2023124. Investment income decreas￿ by £S4k against prior year. contributing £397k. We strengthened the planned commeraal income in the year by opening an offsite shop in Easlboume. The trading perfomiance of our offsite shop in Lewes continued to exceed expectations. Restricted tncome donations of £63k w8re received during the year12023124 £99kl. Total expenditure increased year on year. primarily driven by higher salary cosls impacting from the increase in National Minimum Wage rates. We continued rnveslmenl in our commercial and fundraising actiwties to generate income. We also secured warehouse facilitses in Newhaven to support our long-term growth plans for high street charity retail operations. We invested In our main site to ensure continued health & safety compliance. including a rolling programme to renew fire doors onsite. In addits'on, we made improvements to our animal care facilities including the conversion of a portacabin for rabtst bonding and completion ol thè aviaries misting system. Pagè11 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl For the Year Ended 31 March 2025 The Board of Trustees have reviewed income and expendilure over Ihe next five year5 With the objective of reducing the reliance on legacy and investment income. the first of which fluctuates considerably from year to year. In addition. the costs related lo N8tional Lmng Wage and National Insurance Increases, along wth other salarylreward adiuslrnents, will need to be covered by new income in the Immediate and longer lem. We expect expenditure to exceed income lor the ne￿ five years and have sufficient funds set aside in our feservès to fund this shortfall. We have undertaken another rewew of our income generation strategy lo ensure that we are maximising our engagemènt with our stakeholders. and the Charity plans lo invest in and inclease non-restricted income through its commerGial and fundraising operaJ"ons ovèr the next five years. Our investrnent portfolio started the year with a valuè of £12.4m1£12.Om investmènts and £0.3m cash awaiting inveslmenll. Cash drawdowns of £1.6m were made during the year to fund our a¢tivities. The portfolio ended the year with a value of £11.Om1£10.96m inveslrnents and £0.04m cash awaib.ng inveslmentl. Investment Policy The charitable company has a portfolio ol investments managed by Charfes Stanley & Co Limited under a discretionary agreement in accordance with an investment policy agreed and regularty monitored by the Trustees who meet with the Fund Managers at least every six months. The overall investment objective agreed by the Truslees Is lo maximise the total relurn whilst having regard lo the charitable nature of these funds and Trustees. responsibility to avoid unacceptable risks. The Fund Managers have beers mandated to ensure that securities held in Ihe portfolio do not Gontravene our speofic ethical requirement5 regarding animal testing and transrK)rtation. The Fund Manager also ensures that it ts an aclive custodian of the Charitys assets and actively voles on governan￿ issues lor any equrty seculllies held direcdy. Where the Fund Managers use third party funds. it is reGognised that there is limited control over the undedwng allocation and its ethical positsoning. The target required of the Fund Managefs IS to achieve a performance against a bespoke benchmark. Risk Managèment The Board of Ttustees has considered the Tisks which face the Charity in the delivery of ils objectives and has compiled and regularly reviews a register of these risks. trM)Ih intemal and exlemal. Risks are assessed according to their polential impad on the Charity and Ihe likelihood of their occurrence. Management and mitigation strategies are in place to ensure that the adverse effects of those risks are reduced as far as possible. The Board considers that the prinapal Tisks which face the Charty a￿. The volatility of the sources of income on whith the Charity ￿lieS to carry out its work. principally legacy income which by ils nature is vnprediclable. and fundraising from Ihe pu￿1C. The board is actively pursuing strategies to diversify the sources of the Charity's income. Operational issues su¢h as thè risk of the outbreak of serious disease. or a change in the natu￿ or number of the animals admitled leading to problems the capacty of the Centre. The Charity has a business continuity plan in place to mitigate thè effects of these risks. Internal control risks are minimised by Ihe implementation of appropriate policy and procedu￿. We have retained an external specialisl company to support the Charity in managing health and safely procedures lor our staff. volunteers and visitors. A member ol staff. in conjunction with an extemal consultsncy. is the lead on GDPR matters. We retain speaalisl lawyers for assistsnce wrth employment matters. and have comprehensive property. business continuity. public liability and employers. liability Insuran￿ in place. Page 12 The Raystede Centre for Anirnal Welfare Limited A Company Limited by Guarantee) Trustees. Report Icontinuedl Forthè Yèar Ended 31 March 2025 The Charity's risk register continues lo be revised regulady to tske into aGGount thanging circumstances. Optimistic and pessirnislic budget scenarios together with longer term projections continue to be considered, together with regular relore¢asis. All aspects of health & safety have been IfKJroughly risk assessed. Reserves At 31 March 2025. the Charity held free reserves of £12,237,303, calculated in accordance with Charity Commission guidance as follows.. Tolal Charity funds of £16.429.488 less the designat￿ fund for tangible f1xed assets used to carry out our actNilies of £4.169.556. the investment revaluation reserve of £Nil and restricted funds of £22,219. Restricted funds are given or raised for specific purposes and are not available for use in the general purposes ol the Charity. The Charity's reseryes are held predominantly as Investments which are classed as Income funds and are used to generate unrestricled income io fund the Charity's acb"vib"es. The Charitys reserves policy is to maintain a level of free reserves that will enable it lo ensure continuity of activity in the event of signrficant physrcal disnJpb"on to its activities, an exceplional shortfall in incorne or increase in costs. lo fund majoi programmes and capital projecls which il is not able to fund from day lo day recurring sources of income. and have the ability to respond in a measured Yrfay to changes in the extemal economic environment and demands on our services. The charity uses a risk-based appfoach to cal(xJlating the amount to set aside as reserves. Using Its risk register as a basis, we calculate the amount we ne￿ to sel aside lo enable the Charity to continue operating should any of the risks materialise. The Chanty has incurred cash deficits for the lasl five financial years. is budgeting for a further deficit lor the year ending 31 March 2025. and projections suggest that we wll contsnue to inoJr deficits unlil at least 2029130. The pnncipal reasons lor thè ongoing deficits are substantial increases in the costs of funding our charitable activities, such as fuel and power. and a shortfall in income results.ng from under4nveslmenl in fundraising and commercial activities for an exlended period of time comlyned with currently investing substantial arnoun15 in programmes to increase income from these sources. In addition. we continue to invest in our facilities in order to advan¢e our ¢hariiable activities. Taking into account the need to fijnd future deficits and the potential costs of other risk5 identtfied from our review of our risk register. the Board estimates that approximately £5.5m may be required from free reserves. We have a number of specffic projects and programmes in the earty stages of planning which will improve further the charitable work thal we are able to carry oul and Ihese, loo, will be funded mainly from our reserves. We have therefore set aside £6.49m as designaled ￿seNeS lo be applied for some of the following strategi¢ or capital project purposes.. Expanded Educab'on & Prevention Prograrnme (recurring operational expenditure). Pel￿wayS rèlurbishmenl and new crèmalor. Relurbishmenl and significanl maintenance works in Kennels & Cattery. Changes to Vetennary Surgery room and entrance layout. Addition of a cat maternity facilty and kennels isolation unit. Equine track system. Improvements to Ihe facilities lor rabbils and small animals. Plans for Future Periods Our strategic challenges, now and for the future. are demanding. We must understand the changing environment in which we operate and be proactive and innovative in how we adapt to challenges Wa wish to use our expertise and knowledge to dernonslrate our exemplary work in ihe field of animal welfare and we will ensure we are effective in promoting the Charity to maintain our reputation. supporters and ir*come. We musl also ensure that we have robust finan￿al planning in place to achieve our strategic goals. Throughout 2024 there has been a slror)g focus on Rayslede s strategy with lime sel aside for Tnjslees and SMT to review and discuss future direction. purpose and projecis. Strategic planning will drive the charity towards future economic stability and growth to fully achieve Raystede's objectives and desired impac(. Page 13 The Raystede Centre for Animal Welfare Limited (A Company Limited by Guaranteel Trustees, Report (continued) For the Year Ended 31 March 202$ Speafically. we have currendy identified the followng areas as priollties for each of our main areas of Gharitable aclivity.. Achieving financial stability We will increase net fvndraising income with the aim of rebalanang the proportion of fundraising to legacy income lo ¢￿at¢ a more stable and predictsble annual income. We will seek lo maintain slrong legacy receipts Ihrough a longlerm Commitment lo our stakeholders. We will manage current ¢ommerual businesses lo optimise irKome generation whilst also identify'ng and planning the development ol further comMer￿al opportunities offsite lo generate new income streams. We will evaluate expenditure in all departments on a regular basis lo drive effiuencies wherever found, reducing our cost base whenever possible. Rehoming servicÈs It is a core strategy of the Charty to maximise the number of animals rehomed wthin our existing infraslruclure. We will continue to review procedures and meth¢xlology to ensure we maximise our opportunities to rehome resGue animals. Our direct rehoming scheme. Animals Al Home continues lo expand and was promoted via our website last year. We also begun accepling equines onto Animals At Ho￿e which will allow us lo rehome more horses and ponies without thè nèed for them to come lo Ra￿tede al all. We will further enhance our website and other related communiGation lools in order to maintain online rehoming processes. We will largel promots.on and advertising a¢tiwties to attract suitable rehomers for the animals we care for. We plan to promote our small animals bonding service more 8clwely in the Coming year. We will provide training and continually rewew processes to maximise our efficiency and rTK)nilor performan against Key Performan￿ Indicators {KPlsl linked to our animal welfare and educationlprevenlion slralegies. We will continue to promote ex￿lIent slandards of animal welfare through our rehoming procedures. Our procedures will be explicit in U)eir demonstration ol best practice in the care and welfare of all companion animals. We will conunue to evaluate our facilities for both anima5s and people. io maké necessary improvements in line with our strategic planning. We are curTenUy reviewing detailed and Gosled plans lor signifiGanl Improvements lo our Kennels and Cattery. Sanctuary and lifetime homes fof animals in need It is a core strat￿Y ol the Charity to provide sanctuary where animals cannot be rehomed and at the samé timè to énsurè wè mÈet bèst standards of animal welfare. Our facilib.es will contribute to the leaming èxpèrienc& for visitors whilst at the same time teaching respect for animals and ensuring best welfare. We rècconise the need to optimise the number of visitors on site to ensure the highest level of animal welfare is maintained and we will continue to assess ways of creating the llght balan￿_ We will mainlain and irnprove Whe￿ possible the faulities that provide lifeb.me homes for certain animals to ensure every animal in sanctuary on srte is provide(J with a good life and is ab￿ to thrive in our care. Page 14 The Raystede Centre for Animal Weffare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl For the Year Ended 31 March 2025 Education and PrÈvèntion activity to promote animal wèlfare Through thè implementation of Rayslede's nèw Prevention and Education strategy. we want to see improved pel cale across Sussex. Through our iargeted activity with priority audiences. local people will make more informed decisions when acquiring a pet and be given the support they need lo provide the best quality of care lor their pets. We will do this through a programme of activity which indudes estsblished methods. community outreach, visitor and fomial education prograrnmes. Additionally. we will drive forwarij and further towards our goals by developing and investing in new athvity. such as lerbary training SUPPK)rt and advo¢acy_ Auditor Kreston Reeves LLP were appointed auditors for Ihe financial year ended 31 March 2025 at a General Meeting. Appointment of auditors for the next financial year will be pul to a General Meeting. The audit registration of Kreston Reeves LLP was transferred lo Kreston Reeves Audit LLP on 6 Oct¢)ber 2025. Kreslon Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025. Stat¢ment as to disclosure of information to auditor The Trustees who were in office on the date of approval of these revised financial statements have ¢onfirmed. as far as they are aware. that there ts no ￿levant audil inlomiation ol which the audilor is unaware. Each ol the Trustees have confirmed that they have tsken all the sleps thal Ihey ought to have taken as Trustees in order lo make ihemselves aware of any relevant aLKlit information arKI lo eststjish that it has been communicated lo Ihe 8uditor. Responsibilities in relation to the financial statements The trustees (who are also directors of Raystede Centre for Antmal Welfare Limited for the purposes of company lawl are responsible for preparing the Report of the Council of Management and the finan¢ial statements in ac¢ordan¢e with applicable law and United Kingdom Accountsng Standards Iunited Kingdorn Generally Accepted Accounting Pracb"cel. Company law requires the trustees lo prepare financial slalements for each financial year which give a true and lair view ol the stale of affairs of the charitable company and the group arbd of incoming resources and application ol ￿sour￿s, including the income and expenditure. of the charrtable group for that period. In preparing these finanoal stslements, the tnjslees are iequired lo.. select suitsble 8ccounb.ng poli(aes and then appty them consistèndy, observe the methods and prinuples in the Charilies SORP- make judgements and estimales that are reasonable and prudent., prepare the financial ststements on the going concem basis unless rt is inappropriate lo presume that the charitable company will conbnue in busine5S. The Iruslees are ￿sponSible for keeping proper accounling records thal disdose with reasonable accuracy al any time the financial position of the chariiable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable sleps for the prevention and delection of fraud and other irregularities. Page 15 The Raystede Centre for Animal Welfare Limtled IA Company Limited by Guarantee) Trustees. Report (continued) For the Year Ended 31 Mareh 2025 Approved by order of the mernbers of Ihe board of Truslees and signed on their behalf by. O H Jones Chairman Date.. 29 Septmb 2025 Pagg 16 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee} Independent Auditors. Report to the Members of The Raystede Centre for Animal l•Yelfare Limitèd Oplnlon We have audited the revised financial Statements of The Raystede Centre for Animal Welfare Limited Ithe 'parent ¢haritable company) and ils subsidiaries Ilhe 'group'l lor the year ended 31 March 2025 which comprise the Revised Consolidated Stalement of Financial Aclivilies. the Consolidated Balance Sheet. the Charity Balance Sheet. the Consolidated Statement of Cash Flows and Ihe related notes. including a summary of signifi'cant accounting policies. These revised financial statements replace the original financial statements approved by the directors on 29 September 2025. The finan¢ial reporting framework that has been applied in their preparation is appli¢ablè law and United Kingdoffl Accounb"ng Stsndards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice}. The revised financial sialements have been prepared under the Companies (Revision of Defective Accounts and Reportsl Regulations 2008 and accordingly do not tske a¢wunt of events which have tsken place after the dale the original financial statements were approved. In our opinion the revised finanaal statements- give a Irue and fair view of the state ol the Grotjp's and of the parent ¢haritst>le companys affairs as at 31 March 2025 and of the Group's incoming resources and application of resources. including ils income and expenditure for the year then ended-. have been properfy prepared in accordance with United Kingdom Generally AC￿pted Accounting Practice.. and have been prepared in accordance wih the requiremenls of the Companies Act 2006. Ba$1$ for opinion We conducted our audit in accordance with lnlemab.onal Standards on Auditing IUKI IISAS IUKI} and applicable law. Our responsibilities under Ihose siandards are further described in the Auditors. responsibilities lor the audit ol the revised financial stslemeftts section of our report. We are independent of the Group in accordance wlh the ethical requirements that are relevant lo our audit of the ￿vISed financial statements in Ihe United Kingdom, including the Financial Reporting Counal's Ethical Standard. and we have fulfilled our other ethical sponsibilities in a￿ordanCe with Ihese requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis lor our opinion. Emphasis of matter- revision of the Statement of Financlal Advttl¢s We draw attention lo the revised Slalement of Finanual Aclivits"es on page 21 which describe the need lor revision because of the correction of a misslalemenl in the original Statemenl of Finanaal Aclivilies. The original financial statements We￿ approved on 29 September 2025 and our previous audit report was sicned on that dale. We have not performed a subsequent events review for the period from the dale of our previous audilorfs report to the date ol this report. OLsr opinion is not modified in this respect. Conclusions rèlating to going ¢oncèm In auditing the financial stalements. ￿ have conctuded that the Trustees. use of the going conceTn basis of a¢¢ounting in the preparation of the rewsed finanrial statemeftts is appropriate. Based on the work we have performed, we have not idenlified any material uncertainties relating to events or conditions Ihal, individually or ¢olle¢lively. may casl signifi¢ant doubl on the Group's or the parent Charitable cornpany's ability lo continue as a going GOTr￿￿ foi 8 period of at least fvlelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilits.es of the Trustee5 wlh respect to gotng concern are described in the relevant sections of this report. Page17 The Raystede Centre for Animal Wetfare Limited IA Company Limited by Guarantee) Independent Auditors. Report to the Members of The Raystede Centre for Animal Welfare Limitèd Icontinuedl Othèr Infom)atlon The other information cofflprises the informalK)n induded in the Annual Report olher than the revised financial slalements and our Auditors. Report thereon. The Truslees are responsible for Ihe other information Gontained within the Annual Report. Our opinion on the revtsed financial statements does not cover Ihe other inlorThation and. except to the extent olherwise explicilly stated in our report. we do not express any form of assurance condusion thereon. Our responsibility is lo read the other informalion and. in doing $0. consider whether the other information is materially inconsislent with ihe revised financial statements or our kn￿edge obtained in the course of the audit, or otherwise appears to be materially misstated. If we Identsfy such rnaterial inconsistenoi&s or apparent material rrisslalements. we are required to delemine whether this gives rise to a malerial misslalement in the revised finan¢sal statements themselves. If. based on the work we have performed, we conclude that there is a material misststgmènt of this other infom)ab"on. we are reqL¢ired to report that fact. We have nothing to re￿rI in this regard. Opinion on other matters prescribed by the Compani•s Act 2006 In our opinion, based on the work undertaken in ihe Gour5e of the audit.. the information given in Ihe Trustees. Report induding the Strategic Report for the financial year for which the revised financial statements are prepared is consistent with the revised finan¢ial statements. the Trustees. Report and the Stralegic Report have been prepared in accordance wth applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understandir¥J of the charrtable company and its environment obtained in the course of the audit, we have not idenbfie4J material misstatements in the Trustees. Report including the Strategic Report. We have nolhiry lo report in respect of the following matters in relation to which Companies Act 2006 requires us to report to yOLt if. in our opinion- the parent ¢haritable company has not kept adequate and sufficient accounbng rgcords. or retums adequate lor our aLsd4t have not been ￿ceIVed from branches not visrted by us- or the parent charilable cornpany revised financial statements are not in agreement vAth the accounting records and returns.. or certain disdosures of Trustees. remuneration specified by law a￿ not made.. or we have not recewed all the inforry￿1IO￿ and explanations we require for our audit. Responsibilities of trustees As explained more fvjlly in th8 TnJstees' Responsibilities Statement. the Trustees (who are also Ihe directors of the charitable company for the purposes of company law} are fesponsible for the preparation of the revised financial statements and for being sabsfied that they give a true and fair wew. and for stjch internal control as the Trustees delerrNine is necessary lo enable the preparation of rewsed financial statements that are free fror malerial misslalemenl. whether due to fraud or error. In preparing the revised financial slatements. the Trustees a￿ responsible foi assessing the Group's and the parent charitable companls ability to conlinue as a going Gon￿m. disclosing. as applicable. matters related lo going concern and using the going concem basis of accounting unless the Trustees eilher intend to liquidate the Group or the parent charitable wmpany or lo cease operations, or have no realiskn¢ allemab've but to do so. Page 18 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Independent Auditor5. Report to the Members of The Raystede Centre for Anlmal Welfare Limited Icontinuedl AudStors' responsibilities for the audit of the financial statements Our objectives are to obtain ￿asOnable assurance aboul whether the rewsed finanoal siatemenls as a whole are free from material missialement, whether due lo fraud 01 error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a gLtarantee that an audit Conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misst8lernents can arise fr()m fraud or error and are considered material if. individualty or in the aggregate. they could reasonably be expected lo influence the econornic decisions of users taken on the basis of Ihese revised financial staternents. Irregularities. including fraud, are instances of non-¢ompliance with laws and Tegulations We design procedures in line with our responsibilities, oullined above. to detect rnaterial misstatements in respect of irregularities, including fraud. The extent to whith our procedures are capable of detecting irregularities, including fraud Is detailed below.. Capability of the audit in delecting irregular￿.eS. induding fraud Based on our understanding of the charity and the sector as a whde. and through discussion wth the Trustees and other management las reqtjired by aLFditsng slandards}. we identified that the principal risks of non- ¢ompliance with laws and regulations related to heallh and safety and employTnenl law. We ¢onsidered the extent to which non-complian￿ might have a material effect on the financial statements. We also considered those laws and r￿UlationS that have a ¢Jirecl impact on the preparation of the finanaal slalements such as the Charities SORP IFRS 1021 Second Edition (released Odober 20191, the Companies Act 2006, taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non<0mplian￿ throughout the audit. Vve evaluated management's incentives and opportunities for fraudulent manipulation ol the financial statements linduding the nsk of override ol controls). and determined that the principal risks were related to incorreci recognits'on of legacy income, posting inappropriate journal enlries and management bias in accounting estimates and judgemental areas of the financial statements_ Audit procedures perfomied by Ihe engagement team included.. Discussions wEth management and assessment of known or suspected instances ol non-cornpliance wtth laws and regulabons linGluding health and saletyl and fratjd: and Assessment of identified fraud risk faclors". and Review ol expenditure to confirrrt no evidence of personal benefft.. and 1denti￿.ng and assessing the design effectiveness of controls that management has in place lo prevent and detect fraud", and Challenging assumptions and judgements made by management in Fts signif￿ant accounting estimates,. and Perfonming analytical procedures to identrfy any unusual or tjnexpected relationships, induding related paty transactions, that may Indicate risks of material misstatement due to fraud.. and Confirmation of related parties with management. and review of transactions Ihroughout the period to identify any previously undisclosed transactions with related part￿5 outside the nornial course of business.. and Reading Minutes of meet&ngs of those ¢harged with govemance.. and Physical inspection of tangible assets susceptible to fraud or irregularity. and Review of significant and unusual iransactsons arKY evaluation of the undedying finanual rationale supporting transactions- and Identity'ng and testing joumal entries. in particular any manual entries made at the year end for financial statement preparation_ Because of the inherent limitations of an audit. there is a risk that we wsll nol detect all I￿egUlarities, including those leading to a material misstatement in the revised financial statements or non4C * 0 * ￿ O Y v o 1S.(H)O) (3.420) PACE Days Pet Plan Charitable Trust 3,420 15.LK)O) 6.605 99.321 150.1451 137.4991 18.282 Total of funds 17.945.173 4.666,089 14.998,213} 119.4851 17,593.564 Page 43 The Raystede Centre for Anlmal Wèlfare Lrmited IA Company Limited by Guarantee) Notes to the Revlsed Flnancial Statements For the Year Ended 31 March 2025 20. Summary offunds Summary of funds - current year Balanee at 31 March 2025 Balance at 1 April 2024 Transfers inlout Gainsl (Losses Income Expenditure Designated funds General funds 4.049.145 13.S26.137 18.282 1303.0901 6,913,911 15.434.689) 16.887.009) 132.3481 126.9021 10,659,966 S.747.303 22,219 4.298.022 63.187 244.842 Restricted funds 17,593,564 4,361,209 15,770,127) 244,842 16,429,488 Surnmary of funds - prior year Balance at 31 March 2024 Balan￿ at 1 April 2023 Transfers inlout Gainsl (Losses) Income ExpenditLFre Designated funds General funds 3,889.531 14.049.037 6.605 1249,6051 4.698.463) 150.1451 409.219 1371.7201 137.4991 4.049.145 119.4851 13.526.137 18.282 4,566,768 99.321 Restricted funds 17.945,173 4.666.089 14.998.213) 119,4851 17.593,564 21. Analysis of net assets between funds Analysis of net assets between fund$ - cyr￿At year Unrestricted Restricted funds fund$ 2025 2025 Total funds 2025 Tangible fixed assets Intangible fixed assels Fixed asset investments 4,169.556 410 4,169.556 410 10.936.896 1,610.864 1298,1561 112.3011 10,936,896 1,633,083 1298,1561 112.3011 Current assets Creditors due within one year Creditors due in rnore than one year 22.219 Total 16.407.269 22,219 16.429.488 Page 44 The RaystedÈ Centre for Animal Welfare knmited IA Company Limitsd by Guarantee) Notes to the Revised Financial Statements For th• Year Ended 31 March 2025 21. Analysls of net assets between funds {contlnu¢dl Analysis of net assets between fvnds - prior year Unrestricted funds 2024 Restricted funds 2024 Totsl funds 2024 Tangible fixed assets Intangible fixed assets Fixed asset investments CurTent assets Creditors due within one year Creditors due in more than one year 4,048.534 615 4,048.534 615 12,104.422 1,712.182 1272.3491 118.1221 12.104.422 1,730.464 1272.3491 118.1221 18.282 Total 17,575.282 18,282 17,593.564 22. Reconciliation of net movement in funds to net ¢ash flow from operating activities Group 2025 Group 2024 Net expenditure for the year las per Ststement of Finan(ial Adivilies} 11,164.076} 1351,6091 Adjustments for: Depreciation charges Amortisation charges Losses on invesiments Dividends. interests and rents from investments Loss on the sale of fixed assets Decrease in stocks Decreasellincreasel irh debloTS Increase in creditois 301,489 205 248.079 205 99,586 {412.3501 1.396 3,571 {377.7371 19.986 407,398 1467.6901 1,321 1,888 71,303 11.116 Net cash used in operating activities 11.527,9301 177.9911 Page 45 The Raystede Centre for Animal WÈlfare Limited IA Company ￿Mited by Guarantee) Notes to the Revised Financial Ststements For the Y•ar Endèd 31 March 2025 23. Analysls of cash and cash equivalents Group Group 2024 2025 Cash in har 280,047 19,993 57 1,273 260,314 Current asset invèslments Total cash and cash equivalents 300.040 771,587 24. Analysis of rhanges in net debt At l April 2024 Cash flows At 31 March 2025 Cash al bank and in hand 511.273 1231.226} 280.047 Liquid investments 260,314 1240,3211 19,993 771.S87 1471,5471 300,040 25. Pension commitments The group operates a defined contribution pension scheme for its employees. The pension cost charge for the peri(MJ represents Contributions payable by the charity to the 5Ghetne and amounted lo £91,11612024.' £75.9671. At the balanGe sheet date £15.258 was recognised as a liability owed lo the scheme 12024.. £14.0651 26. Operating lease commitments At 31 March 2025 the Group and ihe Charity had commitments to make futu￿ minimum lease payments under non-c2ncellable operating lease5 a5 follows.. Group 2025 Group 2024 Charity 2025 Charity 2024 Not later than 1 year Later than 1 year and not later than S years 176,113 405.206 114.738 272.569 176,113 405,206 114.738 272.569 $81,319 387.307 581,319 387.307 Page 46 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Notes to the Revised Financial Statements For the Year Ended 31 March 2025 27. Related party transaction During the year the charity paid £402 12024.. £2941 for rnembership lo the Charity Retail Association, of which S Derrick ITrusteel is a direclor. There were no amounts outstanding at the year end12024.' £Nill. Exempb"on from the re(tuirement to disclose transactK)ns between wholly owned group members has been taken in accordan¢È with provisions in FRS8. 28. Controlling party There is no ultimate controlling paty. Page 47 The Raystede Centre for Animal Welfare Limited IA Company Limitsd by Guarantee) Notes to the Revised Financial Statements For the Year Ended 31 March 2025 29. Prin¢lpal subsidiaries The following were subsidiary undertakings of the Charity. Names Company Registered number office or principal place of business Principal activity Class of Holding Included in shares consolidation Raystede Animal Sèrvicès Limited 03182365 Raystede, Ringmèr, Lewes. East Sussex. BN8 To undertake cremation services and the provisions of a felshop to furthe¢ the ¢haritsble benefit of the charty. A deS￿n and c￿nsIr￿C￿0n company which assists the Welfare and Services actNities nd faulitates building projects. Ordinary 100% Yes Raystede Centre Construction Limiled 04838919 Raystede. Ringmer, Lewes, East Sussex. BN8 Ordirhary 100QA Yes The financial results of the subsidiaries for the year were". Names Income Expenditure ProfiUIL05s1 I Surplusl {Deficitl for the year Net a55ets Raystede Animal Services Limited Raystede Centre Constnjction Limited 604.294 IS88.360} 15,934 48,543 Page 48