Company registration number 00855624 (England and Wales)
Charity registration number 244534 (England and Wales)
ANIMAL WELFARE JAPAN
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ANIMAL WELFARE JAPAN
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Mr A. Crittenden (Chairman)
Mrs A. Hopkins
Ms N. Stewart
Mrs E. Yokoyama
Mr K Degenhard
Mr R Allen (Hon. Treasurer)
Ms H Kedie
Secretary
L Reeve-Daniels (Executive Officer)
Charity number (England and Wales)
244534
Company number
00855624
Registered office
Lyell House
51 Greencoat Place
London
SW1P 1DS
Independent examiner
Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
Ground Floor
1-7 Station Road
Crawley
West Sussex
RH10 1HT
ANIMAL WELFARE JAPAN
CONTENTS
Page
Directors report
1 - 2
Independent examiner's report
3
Statement of financial activities
4 - 5
Balance sheet
6
Notes to the financial statements
7 - 17
ANIMAL WELFARE JAPAN
DIRECTORS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
page 1

The directors present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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)".

Objectives and activities

The principal activity of the Charity is the prevention and relief of cruelty and suffering amongst animals, especially in Japan. Grants have been made to organisations in Japan and the United Kingdom to help them provide for the principal objective.

The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Details of the activities of the charity may be found in the published Annual Report and Accounts for 2025.

Financial review

The overall deficit for the year was £244,799 (20 24 deficit of £165,484) as set out in the Statement of Financial Activities on page 4 of the accounts.

Reserves policy

It is the policy of the charity to maintain a level of unrestricted funds, which are free reserves of the charity, at a level sufficient to fund the charity in the event of a sharp fall in incoming resources. The directors believe this should be between six months to a year.

Public benefit

The charity's council members have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, they have considered how planned activities will contribute to the aims and objectives they have set.

Investment policy and objectives

The council have considered the most appropriate policy for investing funds and have found that a specialist charity investment management company meet their requirements in providing a stable return for the charitable company.

Future Plans

Over the year ahead the directors will be reviewing the legal status and set up of the charity to ensure it is fully up to date and equipped to take the charity into it’s next phase of development.

Structure, governance and management

The Charity is a registered charity and a company limited by guarantee. It is controlled by its govern ing document, which is its A rticles of A ssociation.

Charity constitution

None of the Members of Council has any beneficial interests in the company. All of the Members of Council are members of the company and guarantee to contribute £1 in the event of a winding up.

ANIMAL WELFARE JAPAN
DIRECTORS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
page 2

The directors who served during the year and up to the date of signature of the financial statements were:

Mr A. Crittenden (Chairman)
Mrs A. Hopkins
Ms N. Stewart
Mrs E. Yokoyama
Mr K Degenhard
Mr R Allen (Hon. Treasurer)
Ms H Kedie

Recruitment and appointment of new directors

Directors are recruited following personal recommendation by a current director. All directors are provided with;

a) Model Job Description for a Director

b) Legal Duties of a Director, including completion of a declaration form and a supplementary Automatic Disqualification Declaration.

c) The "Essential Trustee" guidelines as issued by the Charity Commission

In addition standard job descriptions are provided for individual roles of Honorary Treasurer, Chairman and Company Secretary.

Organisational structure

Management of the Charity is conducted by a Board of Directors who meet five times per year and including the AGM.

All Matters arising are dealt with by the Board of Directors.

Key management remuneration

The Charity has part time employees and salaries are set based on market rates and reviewed annually.

Related parties and co-operation with the other organisations

Our main purpose is to provide grant aid and advisory support to the Japan Animal Welfare Society in Japan and other animal welfare projects in Japan upon receipt of grant applications, which are considered by our directors.

Grant aid is also provided to certain United Kingdom based charitable organisations in support of their specific animal welfare projects in Japan and which are in keeping with our aims and objectives.

In preparing this report the Council Members have taken advantage of the small companies exemption provided by section 415A of the Companies Act 2006.

The Directors r eport was approved by the Board of Directors.

Mr A. Crittenden (Chairman)
Director
Dated: 30 April 2026
ANIMAL WELFARE JAPAN
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF ANIMAL WELFARE JAPAN
page 3

I report to the directors on my examination of the financial statements of Animal Welfare Japan (the charity) for the year ended 31 December 2025.

Responsibilities and basis of report

As the directors of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
Ground Floor
1-7 Station Road
Crawley
West Sussex
RH10 1HT
12 August 2026
ANIMAL WELFARE JAPAN
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 4
Current financial year
Unrestricted
Unrestricted
Total
Total
funds
funds
general
Designated
2025
2025
2025
2024
Notes
£
£
£
£
Income from:
Donations and legacies
3
37,768
-
37,768
7,859
Investments
4
64,928
-
64,928
68,995
Total income
102,696
-
102,696
76,854
Expenditure on:
Raising funds
5
1,227
-
1,227
1,937
Charitable activities
Grants Payable
6
203,130
-
203,130
205,800
Animal Welfare Support
6
77,833
479
78,312
76,501
Total charitable expenditure
280,963
479
281,442
282,301
Total expenditure
282,190
479
282,669
284,238
Net gains/(losses) on investments
12
-
(64,826)
(64,826)
41,900
Net expenditure
(179,494)
(65,305)
(244,799)
(165,484)
Transfers between funds
200,964
(200,964)
-
-
Net movement in funds
9
21,470
(266,269)
(244,799)
(165,484)
Reconciliation of funds:
Fund balances at 1 January 2025
134,281
2,082,783
2,217,064
2,382,548
Fund balances at 31 December 2025
155,751
1,816,514
1,972,265
2,217,064

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

ANIMAL WELFARE JAPAN
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 5
Prior financial year
Unrestricted
Unrestricted
Total
funds
funds
general
Designated
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
3
7,859
-
7,859
Investments
4
68,995
-
68,995
Total income
76,854
-
76,854
Expenditure on:
Raising funds
5
1,937
-
1,937
Charitable activities
Grants Payable
6
205,800
-
205,800
Animal Welfare Support
6
75,982
519
76,501
Total charitable expenditure
281,782
519
282,301
Total expenditure
283,719
519
284,238
Net gains on investments
12
-
41,900
41,900
Net income/(expenditure)
(206,865)
41,381
(165,484)
Transfers between funds
197,236
(197,236)
-
Net movement in funds
9
(9,629)
(155,855)
(165,484)
Reconciliation of funds:
Fund balances at 1 January 2024
143,910
2,238,638
2,382,548
Fund balances at 31 December 2024
134,281
2,082,783
2,217,064
ANIMAL WELFARE JAPAN
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
page 6
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
14
137,413
138,016
Investments
15
1,672,564
1,937,390
1,809,977
2,075,406
Current assets
Debtors
16
11,937
12,229
Cash at bank and in hand
154,867
146,569
166,804
158,798
Creditors: amounts falling due within one year
17
(4,516)
(17,140)
Net current assets
162,288
141,658
Total assets less current liabilities
1,972,265
2,217,064
The funds of the charity
Unrestricted funds - general
20
155,751
134,281
Unrestricted funds - Designated
19
1,816,514
2,082,783
1,972,265
2,217,064

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the directors on 30 April 2026
Mr A. Crittenden (Chairman)
Director
Company registration number: 00855624
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
page 7
1
Accounting policies
Charity information

Animal Welfare Japan is a private company limited by guarantee incorporated in England and Wales. The registered office is Lyell House, 51 Greencoat Place, London, SW1P 1DS.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the directors.

Designated funds represent the funds of the charity represented by investments and property, which are required to help run and support the future of the charity.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Voluntary income is received by way of subscriptions, donations and legacies and is included in full in the Statement of Financial Activities when receivable. Legacies are recognised when the charity becomes unconditionally entitled to them.

The value of services provided by volunteers has not been included in these accounts.

Investment income is included when received.

ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
page 8
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Charitable expenditure comprises those costs incurred by the charity in the delivery of it's activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grants payable are payments to third parties in furtherance of the charitable activities, these payments are proposed and reviewed in the directors meetings and are only paid on agreement of the directors. The grants are accounted for when the payment has been made to the recipient which is usually within a timely manner of the meeting date.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the trusts artistic programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 8.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

Staff costs include those who are employed by the Charitable Company or self contract freelance workers (split in the wages note). The costs are recognised in the time that they have worked for the organisation.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Freehold property
Straight line over 50 years
Fixtures, fittings & equipment
20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

No depreciation is provided in respect of freehold land and buildings as the cost is less than the estimated residual value and any depreciation charge would be immaterial.

All assets costing more than £500 are capitalised.

1.7
Fixed asset investments

Investments are included at market value at the year end. Gains and losses on disposal and revaluations of investments are charged or credited to the SOFA.

ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
page 9
1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charitable company only has financial assets and 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.

1.10
Taxation

The charity is exempt from corporation tax on its charitable activities.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.

1.14

Debtors

Other debtors are recognised at the settlement amount due.

1.15

Creditors

Creditors are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 10
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements
Depreciation of Land and Buildings

Freehold land and buildings have been included in the accounts at historic cost. No depreciation is charge d on the building on the basis that the estimated residual value is in excess of the cost included in the accounts and depreciation would be immaterial.

Investment value

Valuation of investments at market value, based on calculation by the investment fund manager. The investments held are all shares listed on a recognised stock exchange and have an easily identifiable market value.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
4,084
2,966
Legacies
33,684
4,893
37,768
7,859
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Other income
62,616
67,763
Interest receivable
2,312
1,232
64,928
68,995
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 11
5
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising and publicity
Advertising
1,227
1,937
6
Expenditure on charitable activities
Grants Payable
Animal Welfare Support
Total
Grants Payable
Animal Welfare Support
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Direct costs
Grant funding of activities (see note 7)
203,130
-
203,130
205,800
-
205,800
Share of support and governance costs (see note 8)
Support
-
72,122
72,122
-
71,925
71,925
Governance
-
6,190
6,190
-
4,576
4,576
203,130
78,312
281,442
205,800
76,501
282,301
Analysis by fund
Unrestricted funds - general
203,130
77,833
280,963
205,800
75,982
281,782
Unrestricted funds - Designated
-
479
479
-
519
519
203,130
78,312
281,442
205,800
76,501
282,301
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 12
7
Grants payable

Grants payable

Grants payable

2025
2024
£
£
Grants to institutions:
JAWS Tokyo
156,000
156,000
JAWS Tokyo Projects
3,000
3,000
JAWS Tokyo Branches
-
20,000
Animal Refugee Kansai (ARK)
14,130
-
Pacific Whale Fund
-
10,000
E.I.A
15,000
10,000
IKAN (Iruka & Kujira A Network)
-
800
HEART Tokushima
-
6,000
Wild Welfare
15,000
-
203,130
205,800
8
Support costs allocated to activities
2025
2024
£
£
Staff costs
55,105
52,959
Depreciation
603
719
Computer and IT Expenses
3,355
3,670
Telephone
1,432
1,359
Equipment Rental
-
1,271
Rates
4,244
3,077
Insurance
1,882
1,902
Utilities
1,222
1,137
Repairs and Maintenance
809
955
Printing, Postage & Stationery
2,222
2,311
Sundries
895
2,301
Travel
354
264
Governance costs
6,189
4,576
78,312
76,501
Analysed between:
Animal Welfare Support
78,312
76,501
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Support costs allocated to activities
(Continued)
page 13
2025
2024
Governance costs comprise:
£
£
Independent Examination fees
4,200
4,020
Legal and professional
1,440
-
Bank Charges
549
556
6,189
4,576
9
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
4,200
4,020
Depreciation of owned tangible fixed assets
603
719
10
Directors

Council members were re-imbursed travel costs and sundry costs and expenses in an amount of £1,269 (20 2 4 - £1,091) during the year.

11
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Office Staff
2
2
Employment costs
2025
2024
£
£
Wages and salaries
53,009
50,943
Other pension costs
2,096
2,016
55,105
52,959

The directors do not consider there to be any key members of management. The charity is managed and run by the board of directors.

There were no employees whose annual remuneration was more than £60,000.
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 14
12
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
Designated
Designated
2025
2024
Gains/(losses) arising on:
£
£
Revaluation of investments
(56,985)
43,104
Sale of investments
(7,841)
(1,204)
(64,826)
41,900
13
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

14
Tangible fixed assets
Freehold property
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 January 2025
136,629
21,360
157,989
At 31 December 2025
136,629
21,360
157,989
Depreciation and impairment
At 1 January 2025
-
19,973
19,973
Depreciation charged in the year
-
603
603
At 31 December 2025
-
20,576
20,576
Carrying amount
At 31 December 2025
136,629
784
137,413
At 31 December 2024
136,629
1,387
138,016
No depreciation is provided on freehold property as the market value is substantially in excess of the book value and any depreciation charge would not be material.
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 15
15
Fixed asset investments
Listed investments
£
Cost or valuation
At 1 January 2025
1,937,390
Valuation changes
(56,985)
Disposals
(207,841)
At 31 December 2025
1,672,564
Carrying amount
At 31 December 2025
1,672,564
At 31 December 2024
1,937,390
2025
2024
Investments at fair value comprise:
£
£
COIF Investment Fund Units
1,289,863
1,562,551
COIF Property Fund Units
382,701
374,840
1,672,564
1,937,391
Fixed asset investments revalued

The historical cost of the investments are £1,2 08,039 (202 4: £1,295,822)

16
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
11,637
11,959
Other debtors
300
270
11,937
12,229
17
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
-
12,988
Accruals and deferred income
4,516
4,152
4,516
17,140
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 16
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
2,096
2,016

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19
Unrestricted funds - Designated

These are unrestricted funds which are material to the charity's activities.

At 1 January 2025
Resources expended
Transfers
Gains and losses
At 31 December 2025
£
£
£
£
£
Property Fund
137,541
(479)
-
-
137,062
Investment Fund
1,945,242
-
(200,964)
(64,826)
1,679,452
2,082,783
(479)
(200,964)
(64,826)
1,816,514
Previous year:
At 1 January 2024
Resources expended
Transfers
Gains and losses
At 31 December 2024
£
£
£
£
£
Property Fund
138,060
(519)
-
-
137,541
Investment Fund
2,100,578
-
(197,236)
41,900
1,945,242
2,238,638
(519)
(197,236)
41,900
2,082,783

Property fund represents the funds necessarily set aside for the charity's occupation of land and buildings.

Investments fund represents unrestricted funds set aside for the charity's investment portfolio, which it uses to generate an income to support the charitable objectives.

20
Unrestricted funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the directors for specific purposes:

At 1 January 2025
Incoming resources
Resources expended
Transfers
At 31 December 2025
£
£
£
£
£
General funds
134,281
102,696
(282,190)
200,964
155,751
ANIMAL WELFARE JAPAN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20
Unrestricted funds
(Continued)
page 17
Previous year:
At 1 January 2024
Incoming resources
Resources expended
Transfers
At 31 December 2024
£
£
£
£
£
General funds
143,910
76,854
(283,719)
197,236
134,281

21
Analysis of net assets between funds
Unrestricted
Unrestricted
Restricted
Endowment
Total
funds
funds
funds
funds
general
Designated
2025
2025
2025
2025
2025
£
£
£
£
£
At 31 December 2025:
Tangible assets
351
137,062
-
-
137,413
Investments
-
1,672,564
-
-
1,672,564
Current assets/(liabilities)
155,400
6,888
-
-
162,288
155,751
1,816,514
-
-
1,972,265
Unrestricted
Unrestricted
Restricted
Endowment
Total
funds
funds
funds
funds
general
Designated
2024
2024
2024
2024
2024
£
£
£
£
£
At 31 December 2024:
Tangible assets
476
137,540
-
-
138,016
Investments
-
1,937,390
-
-
1,937,390
Current assets/(liabilities)
133,806
7,852
-
-
141,658
134,282
2,082,782
-
-
2,217,064
22
Related party transactions

Helen Kedie is both a director and the editor of the Animal Welfare Japan magazine. In the financial year, Helen received £875 (202 4: £805) for her editorial services.

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