2025-03-31-accounts

CHARITY REGISTRATION NUMBER: SC029625

Willows Animal Sanctuary (SCIO)

Financial Statements

31 March 2025

18 North Street, Glenrothes, Fife KY7 5NA 01592 610388 8 Mitchell Street, Leven, Fife KY8 4HJ 01333 425250 www.patersonboyd.com

PB AUDIT LIMITED REGISTERED AUDITORS

Willows Animal Sanctuary (SCIO)

Financial Statements

Year ended 31 March 2025

	Page
Trustees' annual report	1
Independent auditor's report to the members	5
Statement of financial activities	10
Statement of financial position	11
Statement of cash flows	12
Notes to the financial statements	13

Year ended 31 March 2025

Willows Animal Sanctuary (SCIO)

Trustees' Annual Report

The trustees present their report and the financial statements of the charity for the year ended 31 March 2025.

Reference and administrative details

Registered charity name Willows Animal Sanctuary (SCIO) Charity registration number SC029625 Principal office Lambhill Farm Strichen Fraserburgh AB43 6NY

The trustees

Auditor PB Audit Limited Statutory Auditors 18 North Street Glenrothes Fife KY7 5NA

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes a Scottish Charitable Incorporated Organisation (SCIO).

Risk assessment

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to such risks.

Objectives and activities

The objectives of Willows Animal Sanctuary are:

• (i) To provide safety and rehabilitation for abandoned or unwanted horses, ponies and other animals and rehome them where possible.

• (ii) To educate the public and prevent cruelty to animals. (iii) To provide Animal Assisted Therapy for people with severe and enduring mental health difficulties and to help other vulnerable people in the community.

• (iv) To develop employment opportunities for disadvantaged people.

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Willows Animal Sanctuary (SCIO)

Trustees' Annual Report (continued)

Year ended 31 March 2025

Achievements and performance

Animal Welfare

Willows Animal Sanctuary is the largest equine farm and small animal sanctuary in Scotland, and will try to help any animal in distress. We operate a strict no kill policy and only put an animal to sleep on veterinary advice.

Willows now cares for almost 100 equines as well as over 60 cats and dogs, 200 farm animals and birds and many more small animals and reptiles. We are very dependent on donations to keep the sanctuary running.

We specialise in helping elderly or more vulnerable animals that have already been refused help by well-known large national charities.

Willows operates its centre to the highest level of animal welfare care consistent with ever changing statutory requirements and within the funding constraints typically experienced by small to medium sized animal charities. It has an excellent reputation with the SSPCA and Animal Health.

We have managed to respond to all of the biggest emergencies whilst operating Willows at full capacity each month. We have again managed to retain a sum in our bank account which is equivalent to six month's running costs.

Development, activities and achievements

We are delighted to say that we are now a fully licensed animal sanctuary.

In addition to many general repairs to fences, barns and stables, we made many improvements to our Mindfulness Area which is much appreciated by our visitors. We also had to completely replace an existing building which is now being used as an education room. We replaced the Beastie House roof as it was leaking badly.

We successfully fundraised to build 4 new Catios. Two of the Catios were joined together to allow Marmalade to have a larger more interesting environment and the other two are used for managing and feeding some of the other feline residents that don't cope so well being with the main group of cats.

In July of 24 we rescued 7 cockerels that had been abandoned on the derelict property that borders Willows. We built them a large aviary to live in and upgraded the main duck enclosure. This allows all of the resident birds to have more space.

The top Stable Block, which is more than 20 years old was renovated and it should hopefully last us a few more years as a result.

Employees

We are very grateful to our dedicated employees for their hard work throughout the year.

The Trustees of Willows Animal Sanctuary throughout the year ended 31st March 2025 were Zarabeth Davies, Bethan Burr and Adam Burr.

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Willows Animal Sanctuary (SCIO)

Trustees' Annual Report (continued)

Year ended 31 March 2025

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level will ensure that, in the event of significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funding may be raised. This level of reserves has been maintained throughout the year.

The level of unrestricted funds held at the year end was £460,097 (2024: £410,885) which included £184,688 of fixed assets (2024: £170,212).

Plans for future periods

Our plans for the year ending March 2026 will mainly centre on raising the funds to purchase the Peat Shed which adjoins our land and which Willows is currently renting. This shed has provided winter shelter for many of our horses and ponies and storage for large bales of hay since around 2012. Some people may remember the appalling horse meat scandal which prompted Willows to double the number of equines it cared for and the renting of the Peat Shed was an intrinsic part of this endeavour.

We will continue to make sure that the animal welfare is top priority and always check for updates and the latest research on how to provide them with better lives.

We will also continue to be mindful about how many animals we can safely support and care for.

Trustees' responsibilities statement

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the applicable Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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Willows Animal Sanctuary (SCIO)

Trustees' Annual Report (continued)

Year ended 31 March 2025

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustees Investments (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' annual report was approved on 17 December 2025 and signed on behalf of the board of trustees by:

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Willows Animal Sanctuary (SCIO)

Independent Auditor's Report to the Members of Willows Animal Sanctuary (SCIO) (continued)

Year ended 31 March 2025

Qualified opinion

We have audited the financial statements of Willows Animal Sanctuary (SCIO) (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for qualified opinion

We were unable to obtain sufficient appropriate audit evidence regarding the completeness of cash income, due to lack of records retained. We were also unable to obtain sufficient appropriate evidence regarding the valuation of inventory.

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

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Independent Auditor's Report to the Members of Willows Animal Sanctuary (SCIO) (continued)

Willows Animal Sanctuary (SCIO)

Year ended 31 March 2025

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

• the information given in the trustees' report is inconsistent in any material respect with the financial statements; or

• adequate accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

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

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Willows Animal Sanctuary (SCIO)

Independent Auditor's Report to the Members of Willows Animal Sanctuary (SCIO) (continued)

Year ended 31 March 2025

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Based on our understanding of the charity and sector, we identified that the principal risks of noncompliance with laws and regulations related to breaches of UK regulations such as employment law, health and safety regulations, disability discrimination, GDPR and Anti Money Laundering, and we considered that the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as The Charities and Trustee Investment (Scotland) Act 2005, The Charities Accounts (Scotland) Regulations 2006 (as amended), FRS102 and the Charity SORP. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override controls), and determined that the principal risks were related to the potential posting of inappropriate journal entries to manipulate financial results and management bias in in accounting estimates. Audit procedures performed by the engagement team included:

• Enquiry of management and those charged with governance around actual and potential litigation and claims.

• Reviewing minutes of meetings of those charged with governance including the Board.

• Enquiry of Trustees' and key management for any related parties and review of accounting records for such transactions.

• Identifying and testing journal entries based on risk criteria.

• Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing.

• Investigated the rationale behind significant or unusual transactions.

• Review of correspondence with OSCR.

• Reviewing the laws and regulations with a direct and indirect impact on the financial statements and making sure compliance with these.

• Reviewing treatment of income and making sure it complies with the SORP.

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Independent Auditor's Report to the Members of Willows Animal Sanctuary (SCIO) (continued)

Willows Animal Sanctuary (SCIO)

Year ended 31 March 2025

• Reviewed the risks identified at the planning stage and making sure these have been dealt with during the audit work.

• Reviewed accounting estimates for evidence of bias.

• Agreed financial statement disclosures to supporting documentation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Willows Animal Sanctuary (SCIO)

Independent Auditor's Report to the Members of Willows Animal Sanctuary (SCIO) (continued)

Year ended 31 March 2025

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

PB Audit Limited Statutory Auditors 18 North Street Glenrothes Fife KY7 5NA

PB Audit Limited are eligible to act as auditors under the terms of Section 1212 of the Companies Act 2006.

17 December 2025

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Willows Animal Sanctuary (SCIO)

Statement of Financial Activities

Year ended 31 March 2025

		2025	2025	2024
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	584,503	584,503	683,938
Other trading activities	5	41,830	41,830	56,167
Other income	6	1,000	1,000	–
Total income		627,333	627,333	740,105
		======================================	======================================	======================================
Expenditure
Expenditure on raising funds:
Costs of other trading activities	7	17,482	17,482	22,536
Expenditure on charitable activities	8,9	560,639	560,639	530,156
Total expenditure		578,121	578,121	552,692
		======================================	======================================	======================================
Net income and net movement in funds		49,212	49,212	187,413
		======================================	======================================	======================================
Reconciliation of funds
Total funds brought forward		410,885	410,885	223,472
Total funds carried forward		460,097	460,097	410,885
		======================================	======================================	======================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 13 to 21 form part of these financial statements.

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Willows Animal Sanctuary (SCIO)

Statement of Financial Position

31 March 2025

Note Fixed assets Tangible fixed assets 14 Current assets Stocks 15 Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 18 Net assets Funds of the charity Unrestricted funds Total charity funds 21	2025 £ 184,688 14,777 23,866 326,969 365,612 44,651 320,961 505,649 45,552 460,097 ====================================== 460,097 460,097 ======================================	2024 £ 170,212 13,296 138,522 168,580
		320,398 42,218
		278,180
		448,392 37,507
		410,885 ====================================== 410,885
		410,885 ======================================

These financial statements were approved by the board of trustees and authorised for issue on 17 December 2025 and are signed on behalf of the board by:

The notes on pages 13 to 21 form part of these financial statements.

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Willows Animal Sanctuary (SCIO)

Statement of Cash Flows

Year ended 31 March 2025

Cash flows from operating activities Net income Adjustments for: Depreciation of tangible fixed assets Interest payable and similar charges Gains on disposal of tangible fixed assets Accrued expenses Changes in: Stocks Trade and other debtors Trade and other creditors Cash generated from operations Interest paid Net cash from operating activities Cash flows from investing activities Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing activities Cash flows from financing activities Proceeds from borrowings Payments of finance lease liabilities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

2025 2024 £ £ 49,212 187,413 32,137 25,612 4,592 215 (1,000) – 9,558 5,197 (1,481) (4,805) 114,656 (126,570) (12,343) 5,229 195,331 92,291 (4,592) (215) 190,739 ====================================== 92,076 ================================= (46,613) (75,598) 1,000 – (45,613) ====================================== (75,598) ================================= – (8,000) 13,263 46,240 13,263 ====================================== 38,240 ================================= 158,389 54,718 168,580 113,862 326,969 ====================================== 168,580 ======================================

The notes on pages 13 to 21 form part of these financial statements.

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The charity is a public benefit entity, registered as a Scottish Charitable Incorporated Organisation (SCIO) and a registered charity in Scotland. The address of the principal office is Lambhill Farm, Strichen, Fraserburgh, AB43 6NY.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Taxation

The charity is exempt from tax on income and gains falling within section 505(1) of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

3. Accounting policies (continued)

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery - 15% straight line Improvements to Property - 5% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

3. Accounting policies (continued)

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Donations and legacies

Donations and legacies
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
	£	£	£	£
Donations
Donations	391,634	391,634	554,059	554,059
Legacies
Legacies	192,869	192,869	129,879	129,879
	584,503	584,503	683,938	683,938
	======================================	======================================	======================================	======================================

5. Other trading activities

Other trading activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
	£	£	£	£
Fundraising events	300	300	3,989	3,989
Shop income	41,530	41,530	52,178	52,178
	41,830	41,830	56,167	56,167
	=================================	=================================	=================================	=================================

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

6. Other income

6.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Gain on disposal of tangible fixed
	assets held for charity's own use	1,000	1,000	–	–
		===========================	===========================	================	================
7.	Costs of other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Shop and café costs	17,482	17,482	22,536	22,536
		=================================	=================================	=================================	=================================

8. Expenditure on charitable activities by fund type

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Charitable activities	549,797	549,797	522,928	522,928
	Support costs	10,842	10,842	7,228	7,228
		560,639	560,639	530,156	530,156
		======================================	======================================	======================================	======================================
9.	Expenditure on charitable activities by activity type
		Activities
		undertaken	Support	Total funds	Total fund
		directly	costs	2025	2024
		£	£	£	£
	Charitable activities	549,797	–	549,797	522,928
	Governance costs	–	10,842	10,842	7,228
		549,797	10,842	560,639	530,156
		======================================	=================================	======================================	======================================
10.	Net income
	Net income is stated after charging/(crediting):
				2025	2024
				£	£
	Depreciation of tangible fixed assets			32,137	25,612
	Gains on disposal of tangible fixed assets			(1,000)	–
				================================= =================================

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

11. Auditors remuneration

Fees payable for the audit of the financial statements

2025	2024
£	£
5,040	4,800
===========================	===========================

12. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

Wages and salaries Social security costs Employer contributions to pension plans Other employee benefits	2025 £ 239,708 16,038 4,026 – 259,772 ======================================	2024 £ 258,191 17,325 4,281 450
		280,247 ======================================

The average head count of employees during the year was 9 (2024: 11).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

Key Management Personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £109,901 (2024:£105,525).

13. Trustee remuneration and expenses

During the year no expenses were reimbursed to trustees. No trustees received any remuneration from the charity during the year.

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

14. Tangible fixed assets

Freehold Plant and User property machinery £ £ Cost At 1 Apr 2024 67,500 148,815 Additions – 46,613 Disposals – (3,407) At 31 Mar 2025 67,500 ================================= 192,021 ====================================== Depreciation At 1 Apr 2024 – 55,072 Charge for the year – 28,752 Disposals – (3,407) At 31 Mar 2025 – ================================= 80,417 ====================================== Carrying amount At 31 Mar 2025 67,500 ================================= 111,604 ====================================== At 31 Mar 2024 67,500 ================================= 93,743 ====================================== 15. Stocks Raw materials and consumables 16. Debtors Prepayments and accrued income Other debtors 17. Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes Obligations under finance leases and hire purchase contracts Other creditors	defined asset £ 67,695 – – 67,695 ================================= 58,726 3,385 – 62,111 ================================= 5,584 ================================= 8,969 ================================= 2025 £ 14,777 ================================= 2025 £ 1,663 22,203 23,866 ================================= 2025 £ 1,000 8,271 15,800 4,853 13,951 776 44,651 =================================	Total £ 284,010 46,613 (3,407) 327,216 ====================================== 113,798 32,137 (3,407) 142,528 ====================================== 184,688 ====================================== 170,212 ====================================== 2024 £ 13,296 ================================= 2024 £ 1,663 136,859 138,522 ====================================== 2024 £ 1,000 20,527 6,242 4,895 8,733 821 42,218 =================================

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

18. Creditors: amounts falling due after more than one year

Obligations under finance leases and hire purchase contracts

----- Start of picture text -----
||| |---|---| |2025|2024| |£|£| |45,552|37,507| |================================= =================================|

----- End of picture text -----

19. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Not later than 1 year|13,951|8,733| |Later than 1 year and not later than 5 years|45,552|37,507| |59,503|46,240| |================================= =================================|

----- End of picture text -----

20. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,026 (2024: £4,281).

21. Analysis of charitable funds

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted funds| |At|At| |1 Apr 2024|Income Expenditure|31 Mar 2025| |£|£|£|£| |General funds|410,885|627,333|(578,121)|460,097| |====================================== ====================================== ====================================== ======================================| |At|At| |1 Apr 2023|Income Expenditure|31 Mar 2024| |£|£|£|£| |General funds|223,472|740,105|(552,692)|410,885| |====================================== ====================================== ====================================== ======================================|

----- End of picture text -----

22. Analysis of net assets between funds

----- Start of picture text -----
|||| |---|---|---| |Unrestricted|Total Funds| |Funds|2025| |£|£| |Tangible fixed assets|184,688|184,688| |Current assets|365,612|365,612| |Creditors less than 1 year|(44,651)|(44,651)| |Creditors greater than 1 year|(45,552)|(45,552)| |Net assets|460,097|460,097| |====================================== ======================================|

----- End of picture text -----

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Willows Animal Sanctuary (SCIO)

Notes to the Financial Statements (continued)

Year ended 31 March 2025

22. Analysis of net assets between funds (continued)

Analysis of net assets between funds(continued)
	Unrestricted	Total Funds
	Funds	2024
	£	£
Tangible fixed assets	170,212	170,212
Current assets	320,398	320,398
Creditors less than 1 year	(42,218)	(42,218)
Creditors greater than 1 year	(37,507)	(37,507)
Net assets	410,885	410,885
	======================================	======================================

23. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£
Financial assets that are debt instruments measured at amortised cost
Financial assets that are debt instruments measured at amortised
cost	365,612	320,398
	======================================	======================================
Financial liabilities measured at amortised cost
Financial liabilities measured at amortised cost	90,203	79,724
	=================================	=================================

24. Analysis of changes in net debt

At 1 Cash at bank and in hand Debt due within one year Debt due after one year	At Apr 2024 Cash flows 31 Mar 2025 £ £ £ 168,580 158,389 326,969 (9,733) (5,218) (14,951) (37,507) (8,045) (45,552) 121,340 ====================================== 145,126 ====================================== 266,466 ======================================

25. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

			2025	2024
			£	£
Not later than	1	year	4,000	4,000
			===========================	===========================

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