,RRL Charity Registration No. 1024808 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs C Allan Mr C Lauren Mrs J Shepherd Mrs F Rawlings Mr J Pertwee Mr M Mealing Mrs N Howe IAppoinled 1 October 20211 IAppoinled 1 October 20211 IAppoinled 1 October 20211 IAppoinled 17 February 20221 IAppoinled 17 February 20221 Charity number 1024808 Principal address The Wlliam & Patricia Venlon Animal Centre Quoil STCOLUMB Cornwall TR9 6JS Audilor RRL LLP Peal House Newham Road TRURO Cornwall TR12DP Bankers Royal Bank of Scotland 2 Old Town Street PLYMOUTH Devon PL1 1DP Lloyds Bank PIC 7 Boscawen Street TRURO Cornwall TR1 2QT Santander (London) 2 Triton Square Regent's Place LONDON NW1 3AN Solicitors Nalders LLP Cannis House Chapmans Way ST AUSTELL Cornwall PL25 4QU
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH LEGAL AND ADMINISTRATIVE INFORMATION Investmont advlsors Ralhbone Investment Management Ltd The Senate Soulhernhay Gardens EXETER Devon EX1 1UG Brewin Dolphin Ltd Ashleigh Court Ashleigh Way Langage Business Park PLYMOUTH Devon PL7 5JX A Kirk Francis Clark Financial Planning Lowin House Tregolls Road TRURO Cornwall TR12NA
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH CONTENTS Pag• Trustees, report Slalemenl of Trustees, responsibilities Independent auditor's report Slalemenl of financial activities 10- 11 Balance sheet 12 Slalemenl of cash flows 13 Notes to the financial statements
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS L CORNWALL BRANCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees present their report and financial stslements for the year ended 31 December 2021. The financial slalemenls have been prepared in accordance with the accounting policies sel out in note 2 to the financial slalemenls and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities. Statement of Recommended practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. leffeclive 1 January 20191. Objectives and activities The objects of the Branch are lo promote the work and objectives of the National Society- to promote kindness and to prevent or suppress cruelty lo animals by all lawful means with particular reference to the Cornwall and Isles of Scilly areas, in accordance with the policies of the Society. The aim of the branch has been lo provide far reaching care for all animals throughout the branch area in the most cost effective way. This has been achieved in collaboration with the RSPCA Inspectorate that is funded by the National Society. Achievements and performance Whilst hoping wè would 811 start 2021 without the ongoing threat of the pandemic, it unfortunately followed us into the new year and continued lo have an impact on our operations throughout 2021. Our charity shop in Bude had lo close for four months from January - April and then on and off until September when we SucsSfUllY recruited our new Shop Manager. Since then, il has gone from strength lo strength, bouncing back and welcoming the community of Bude to become involved. Despite Covid-19 restrictions, we were able lo safely hold some fundraising events al the cenlre. Our Summer Fayre and dog show returned in September, which was our most successful one lo date,. we also held a Halloween event and Christmas Fayre. To protect our staff and volunteers we have wnlinued to operate on an appointment only basis al the ntre. Vvhilsl we love lo welcome visitors. rem8ining closed to the publi¢ has meant that we were able to minimise the risk of disruption within our staff team. Our engagement with our supporters continued lo grow through social media and we appointed a Media, Marketing and Fundraising Manager to ensure we Continue lo reach all areas of the community and lo diversify our income from allernalive streams as we can no longer rely on legacies lo provide the funds needed to run the branch. Temporary Trustees have worked hard to rebuild the branch and recrLJit a team of local people to act as branch Trustees ensuring the branch can return lo local control as soon as possible. At the end of December 2021, the branch has five temporary Trustees and two potential Trustees. Vvorking together throughout 2021, this team is cohesive and knowledgeable group of dedicated people that are looking forward to locally managing the branch and continuing to help as many animals as possible. Despite the pandemic, with a full year under a new Trustee bo8rd and with the new management structure. the branch has rehomed 100 more animals than in 2020. These animals are those most in need and through our rescue. rehabilitation and rehoming work, we are preventing and suppressing cruelty. which is key to the RSPCA objectives and promotes humane sentiments towards animals which involves moral benefit to humankind as a whole. The total number of animals rehomed was 422. Crucial lo this success is the appointment of our Animal Behaviourisl who works with the whole team lo ensure animals have the best chance of rehabilitstion by helping to resolve issues with their behaviour. Our Behaviourisl also provides public dog training in our new public dog exercise field. This ensures that owners understand how to raise. train and care for a dog responsibly and allows dogs access lo off lead areas they may otherwise not experien. The lolal number of animals that received care al the ntre was 710 which includes wildlife rehabilitation and release.
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS L CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 In 2021, the branch appointed one full time Animal Welfare Officer and two Deputy Officers. Their role is lo provide community animal welfare support and advice, throughoLJt the whole of Cornwall. This allows the limited inspeclorale resources to focus on more serious cases of Cruelly whilst our community team can collect injured wildlrfe and work lo prevent the suffering of animals by reaching them al an earfy stage and offering owners support through advice or welfare assistance. The branch helped 109 animals to receive veterinary treatment, who may not otherwise h8ve done so. The branch also offers subsidised neutering and microchipping for animals belonging to owners who have financial difficulty, primarily those on stale benefits. 216 cat neutering vouchers were issued lo residents of Cornwall and the Isles of Scilly, and 107 cats were microchipped. The team also supports the local community in Camborne by making use of our previous charity shop premises. They run the 'Camborne Animal Weare Hub, once a week where people can access our setvices and support. Animals are microchipped here as well as given free health checks and weigh-ins lo promote the best possible care. Wilhoul this crucial support being provided in the community, we would no doubl see a huge increase in unwanted lillers and higher concerns for animal welfare. The branch is continuing lo support Devon and Cornwall poli with our bull breed neutering scheme. We have also worked closely with a number of new partner agencies in assisting them with boarding provision including Refuge4pets and Cornwall CoLJncil licensing teams. Prevention of cruelly is an extremely important area of work for the branch, so in late 2021 a new Prevention and Education Manager was appointed lo work with children and vulnerable adults throughout Cornwall. Animal welfare education is crucial in teaching empathy and compassion and through targeted programmes that reach those young people who are most al risk of causing suffering lo animals, we can inleNene and reduce the likelihood of animal abuse occurring. Vvhilsl It is very early lo assess the efficacy of their work il quickly became clear that there was very significant demand for animal welfare education in schools and the wider community. The branch makes extensive use of a wide variety of willing volunteers. As soon as we were able to welcome back volunteers lo the branch, we carried out a new volunteer drive and have many new faS that either work directly al the ntre or SUPFlOrt our charity shop in Bude. We also have new volunteers who are carrying out fundraising events for us such as quiz nights. We are extremely grateful lo all of our volunteers old and new, and could not help as many animals as we do without them. Our biggest success with volunteers is our new fostering scheme. The branch has seSsfullY recruited 45 foslerers, all of whom had an animal in their care al the end of 2021. This area of volunteering is so important lo ensure animals th81 find kennel and cattery life very difficult, can be placed in a home environment with the best possible chance of a positive future.
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS L CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Financial review Income for the year was £625,481 12020.. £559,715) and expenditure was £805,18412020.. £794,295), a deficit of £179,7031202D.' £234.5801. There were unrealised gains on investments of £239.43912020'. loss of £6,263). Unfortunately, the Covid-19 pandemic continued lo have a signrficant impact on branch income. The branch uses investment managers Brewin Dolphin and Ralhbones and risk levels are 'Caulious with risk, and 'Lower risk, respectively. This is designed lo provide a dividend income whilst protecting capital. The branch has established a new Finance committee to focus on branch finances and assess whether OLJr current investments are fit for purpose. A full VIeW has commenced using an external advisor and will be completed in 2022. The proportion of income for the branch provided by legacies is over 55% and the temporary Trustees consider this lo be loo high in light of the inevitable uncertainly of legacy income. Although this is mrtigaled by significant income from the endowment and investment funds, we consider that the branch should concentrate more on generating income from other SOLJrces. The pandemic continues to Cause delays in the receipt of legacies as many relate to the sale of property or investments. The value of investments and dividends have also reduced which is likely to affect the branch in the short to medium term. The branch has been able lo lake advantage of the furfough scheme and slatulory sick pay rebate scheme receiving grants lolalling £34,947. This meant we have been able lo furlough some staff whilst maintaining the same level of care for the animals at the Venton Cenlre. We have been awarded a number of government grants lolalling £10,764 in relation to the Covid-related closures at the Bude shop. The branch has significant cash reserves and will therefore remain in a sustainable position for the foresee8ble future. However, the impact of Covid-19 on the economy and individual's ability lo donate, increases the need lo source additional and diverse income streams. Since the year end the value of the charity's fixed asset investments has reduced as a result of the economic uncertainly, mainly in relation to the position in Ukraine. The Trustees lake a medium lo long term view with investments and are confident that values will recover in time as they have done historical. Reserves policy The charity relies heavily on donations and legacies, both of which can fluctuate enormously from year lo year, lo fund ils animal weKare work in the county including the running of the Animal Cenlre. Temporary Trustees continually monitor the level of free reserves. However, the ongoing economic crisis owing lo the Covid-19 pandemic and Brexit, has affected both investment values, donations and legacy income and consequently it is thought advisable lo reconsider the reserves policy in the light of income during 2022. Free reserves are defined as unrestricted funds not held as tangible assets or designated for particular purposes. As at 31 December 2021 free reseNes totalled £1,699,98912a20'. £2.503.4171 The Trustees consider that free reserves should be belween 6 and 12-monlhs' operating expenditure. Current reserves are well above that and Trustees are considering how free reserves can be reduced to an aCpIable level without significantly increasing revenue expenditure and at the same time increasing income. The aim is to achieve a balanced long-term budget. The Trustees consider the charity lo be a going Concern. The Trustees have assessed the major risks to which the charity is exposed. and are satisfied that systems are in place to miligale exposure lo the major risks.
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS L CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Plans for future periods A significant aim of the temporary Trustees is lo return the branch to a local group of elected Trustees. The temporary Trustees will hold an AGM in 2022 to facilitate this. The Trustees will then apply for the Trustee body to be incorporated. The national Society is considering mechanisms lo change the Society rules lo allow the branch lo become a charitable incorporated organisation. Once that Is in place, the Trustees will consider conversion lo a CIO. The Trustees have agreed a five-year strategy which sets out a plan to establish how and when the branch will make significant developments. A major project for the branch in the next few years will be the rebuild of our kennels facilities along with further sile development. The kennels are now 25 years old and are no longer fil for purpose. The kennels will be rebuilt to provide a calm and safe environment for the dogs as well as being more energy efficient. Further sile development will allow us lo source more diverse income streams through a new public dog grooming facility, dog training and Conferen centre and charity shop on sile. The branch will also open a new charity shop in Truro during 2022 and continue to look for suitable charity shop locations in other areas of Cornwall. We will continue lo grow our relationships with local businesses through a new corporate sponsorship package. Structure. governance and management The charity is legally a charitable unincorporated association i.e. a group of individuals who are committed lo a purpose which is charitable according lo law. It is sel up as a Branch of the RSPCA and subject to ils governing document, the Rules for Branches as updated in 2012 as amended. The temporary Trustees have recruited a new group of Trustees and will hold an AGM in the fi'rst half of 2022. In order lo understand the role and responsibilitie5 of becoming 8 Trustee, the group has undergone specific Trustee training provided by the national society. They have observed and contributed to several committee meetings and are fully aware of Charity Commission guidance and regulations. The remuneration package of staff is controlled by the temporary Trustees and is sel in relation to the conditions in other comparable RSPCA Cenlres and branches. The Trustees who served during the year were.. Mrs C Allan Mr C Lauren Mrs J Shepherd Mrs F Rawlings Mr J Perhee (Appointed 9 April 20201 (Appointed 9 April 20201 (Appointed 1st October 20211 (Appointed 1st October 20211 (Appointed 1st October 20211 The senior staff during the year were.. Mrs E Bowen - Chief Executive OffIr from 1 November 2021, Branch Development OffIr until 31 October 2021 Mrs K Evans - Finance Administrator Miss H Jones - Deputy Manager from 4th November 2020, Appointed Centre Manager from 12th February 2021 Mrs LAndrew- Adminislralor The Trustees, report was approved by the Board of Trustees. Mrs C Allan Trustee Mr C Lauren Trustee 21 April 2022
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees are responsible for preparing the Trustees, Report and the financial ststemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Vvales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the ch8rity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required lo.. select suitsble accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements.. and prepare the financial slalemenls on the going conrn basis unless it is inappropriate to presume that the charity will continue in operation. The TrLJStees are responsible for keeping SLJfficienl accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for Safarding the assets of the charity and hen for taking reasonable steps for the prevention and dele¢lion of fraud and other itregulariliès.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH INDEPENDENT AUDITOR'S REPORT ,RRL TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS Opinion We have audited the financial statements of Royal Society for the Prevention of Cruelty to Animals (the 'charity'l for the year ended 31 December 2021 which comprise the slalemenl of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, 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 Financial Reporting Standard 102 The Financial Reporting Standard appliGable in the UK and Republio of Aland (United Kingdom Generally Accepted Accounting practi). In our opinion, the financial ststements.. give a true and fair view of the slate of the Charity's affairs as at 31 December 2021 and of its incoming reSoUrS and application of resources, for the year then ended", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordan with the requirements of the Charities Act 2011. Basls for oplnlon We ¢ondu¢ted our audit in accordan with International Standards on Auditing {UKI {ISAs IUKI) and applicable law. Our responsibilities under those standards are further described in the AudiloPs 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 lo our audit of the financi81 slalemenls 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 eviden we have obtsined is sufficient and appropriate to provide a basis for our opinion. The impact of ma¢ro4¢onomi¢ unc•rtaintigs on our audit Our audit of the financial slalemenls requires us lo obtain an understsnding of all relevant uncertainties, including those arising as a consequence of the effects of macro-economic uncertainties such as Covid-19 and Brexit. All audits assess and challenge the reasonableness of estimates made by the Trustees and the related disclosures and the appropriateness of the going concern basis of preparation and the charity's future prospects and performance. Covid-19 and Brexit are amongst the most significant economic events currently faced by the UK, and al the date of this report their effects are subject to unPredented levels of UnrtaintY. with the full range of possible outcomes and their impacts unknown. We applied a slandardised firm-wide appro8ch in response lo these uncertainties when assessing the charity's future prospects and performance. However, no audit should be expected lo predict the unknowable factors or all possible future implications for a charity associated with these particular events. Conclusion8 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 slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significant doubl on the Charity's ability lo Continue as a going concern for a period of at least twelve months from when the financial slalemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ,RRL other infomiation The other information comprises the information included in the annual report other than the financial statements and our sudilorfs report theieon. The Trustees are responsible for the other infotmalion contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance Conclusion thereon. Our responsibility is lo read the other infomalion and, in doing so, consider whether the other Information Is materially inconsistent with the financial slalemenls or our knowledge obtained in the Course of the audit, or otherwise appears lo be materially misststed. If we identify such material incon5151encies or apparent material misstatements, we are required to determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have perfomed, we conclude that there is a material misslalemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following mallers in relation to which the Charities (Accounts and Reports) Regulations 2008 require us lo report lo you if, in our opinion.. the information given in the financial slalemenls is inconsistent in any material SpeCt with the Ttustees, report., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records.. or we have not reiVed all the information and explanations we require for our audit. Responsibilitiès of Trustoes As explained more fully in the stslemenl of Trustees, responsibilities, the Trustees are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Trustees detemine Is necessary to enable the preparation of financial statements that are free from material misslalemenl, whether due lo fraud or error. In preparing the financi81 slalemenls, the Trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concem basis of accounting unless the Trustees either intend lo ase operations, or have no realistic atternalive bul lo do so. Auditorf8 re8ponsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misslalemenl, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misstatement when il exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-complian with laws and regulations. We design procedures in line with our responsibilities. outlined above, to delect material misslatemenls in respect of irregularities, including fraud.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ,RRL As part of our audit work, we obtained an understsnding of the Ial and regulatory frameworks applicable to the charity and the sector in which they operate. We determined that the laws and regulations that were most significant were those that have a direct impact on the preparation of the financial slalements such as the Charities Act 2011, and compliance with the Charities Ststement of Recommended Practice. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but Compliance with which may be fundamental to the Charity's ability to operate or to avoid a material penalty. These include animal welfare, data prolèclion, health and safely, licensing acts and employment legisl8tion. The specific procedures for this engagement and the extent lo which these are capable of detecting Irregularities, including fraud is detailed below.. Review of the disclosures in the financial statements and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements., Enquiries of management concerning actLJal and potential litigation and claims., Performing analytical procedures lo identify any unusual or unexpected relationships that may indicate risks of material misstatement due lo fraud., Reviewing minutes of Trustee meetings and correspondence with regulators.. Performing audit work in connection with the risk of management override of controls, including testing journal entries for reasonableness. evaluating the business rationale of significant transactions outside the normal course of bu5ine5s and reviewing accounting estimates for potential bias. We also communicate relevant identrfied laws and regulations and potential fraud risk lo all engagement team members and remain alert to any Indications of fraud or non-compliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading lo a material misslalemenl in the financial ststemenls or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalemenls, as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion. omission or misrepresentstion. A further description of our responsibilities is available on the Financial Reporting Council's website al.. htlps'.11 www.frc.org.uklOur-WorklAudiVAudil-and-assuran¢elSlandards-8nd-guidancelSland8rds-and-guidan-f0r- audilorslAuditors-responsibililies-for-audiVDescriplion-of-auditors-responsibililies-for-audil.aspx. This description forms part of our auditor's report. This report is made solely lo the charity's Trustees, as body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charity's trustees those matters we are required to state to them in an auditors. report and for no other PLJrpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for our audit work, for this report, or for the opinions we have formed. Mark Williams (Sonior Ststutory Auditor) for and on behalfof RRL LLP 26 April 2022 Chartorod Accountants Statutory Auditor Peat House Newham Road TRURO Cornwall TR12DP
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ,RRL RRL LLP is eligible for appointment as auditor of the charity by virtue of ils eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Current financial year Unrèstricted Endowment Restricted funds funds funds Venton Centre Total Total 2021 2021 2021 2021 2020 Notes Donations and legacies 473,084 400 473,484 423,690 To promote kindness and to prevent or 5uppres5 cruelly lo animals Other trading adivilies Investments 48,764 34,503 51,225 48,784 34,503 68,730 29,183 35,677 71,165 17,505 Total income 607,576 17,505 400 625,481 559,71 S enditure on.. Raising funds 42,828 5,772 48,600 50,287 Charitable activities To promote kindness and lo prevent or suppress cruelty lo animals 738,778 16,964 755,742 744,008 Total charitable expenditure 738,778 16,964 755,742 744,008 Other 14 Total rg$ourcg$ oxpgndgd 782,448 5,772 16.964 805,184 794,295 Net gainslllossesl on investments 12 180,028 59,411 239,439 16,2631 Net incomingl{outgolngl resources before transfers 5,156 71,144 116,5641 59,736 1240,8431 Gross transfers between funds 1 $2,960 1152,9601 Ngt movgmont in funds 158,116 181,8161 116.5641 59,736 1240,8431 Fund balances at 1 January 2021 3,226,248 974,703 322.058 4,523,009 4,763,852 Fund balances at 31 December 2021 3,384,364 892,887 305.494 4,582,745 4,523,009 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditu is derived from continuing activities. 10-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Prior financial year Unrestricted Endowment Restricted funds funds funds Venton Centre 2020 Total 2020 2020 2020 Notes Donations and legacies 423,690 423,690 To promote kindness and to prevent or suppre5S Cruelly lo animals Other trading adivilies Investments 29,183 35,677 52,633 29,183 35,677 71,165 18,532 Total income 541,183 18,532 559,71 S enditure on.. Raising funds 44,936 5,351 50,287 Charitable activities To promote kindness and lo prevent or suppress cruelty to animals 714,296 29,712 744,008 Total charitable expenditure 714,296 29,712 744,008 Total rgsources oxpgndgd 759,232 5,351 29,712 794,295 Net gainslllossesl on investments 12 10,194 116,4571 16,2631 Net incomingl{outgoingl resources before tran8fer8 1207,8551 13,2761 129,7121 1240,8431 Net movement in funds 1207,8551 13,2761 129,7121 1240,8431 Fund balances at 1 January 2020 3,434,103 977,979 351,770 4,763,852 Fund balance8 at 31 December 2020 3,226,248 974,703 322,058 4,523,009
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Notes Fixed assets Tangible assets Investments 813,951 3,32S,421 857,691 3,082,713 16 4,143,372 3,940,404 Currgnt a$sgts Stocks Debtors Cash al bank and in hand 19 18 9.472 71.359 391.238 10,625 35,598 571,965 472.069 618,188 Creditors.. amount8 falllng due wlthln one year 20 132,6961 135,5831 Net current assets 43S,373 582,605 Total assets less current liabilities 4,582,745 4,523,009 Income funds Restricted funds Endowment funds- Venlon Centre Unreslri¢led fund Designated funds General unrestricted funds 23 24 305.494 892,887 322,058 974,703 21 1,684.375 1,699.989 722,831 2,503,417 3,384,364 3,226,248 4,582,745 4,523,009 The financial ststements were approved by the Trustees on 21 April 2022 Mrs C Allan Trustee Mr C Lauren Trustee 12-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Notes Cash flows from operating activities Cash absorbed by operations 29 1242,1891 1261,0261 Investing activities Purchase of tsngible fixed assets Proceeds on disposal of tangible fixed assets PLJrchase of investments Proceeds on disposal of investments Interest reiVed 119,5161 1304,5581 297,289 68,730 1568.5181 594,685 71,165 Ngt cash genorated from investing activitie8 61,462 77,816 Net cash used in financing activities Net decrease in cash and cash equivalents 1180,7271 1183,2101 Cash and cash equivalents al beginning of year 571,965 755,175 Cash and cash gquivalonts at end of year 391,238 571,965 13-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Critical accounting estimates and judgements In the application of the charity's accounting policies, the Trustees 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 associsled Sssumplions are based on historical experience and other factors that are considered tr) be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales 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 cutrenl and future periods. Accounting policies Charity information Royal Society for the Prevention of Cruelty lo Animals Cornwall Branch is a charitable unincorporated association règistered in the United Kingdom. The address of the gIStered office is given in the ¢h8rily infomiation page of these financial slatemenls. The nature of the charity's operations and principal activities are to promote the work and objectives of the National Society - to promote kindness and lo prevent or suppress cruelly lo animals by all lawful means with particular reference lo the area of the Branch, in accordance with the policies of the Society. 2.1 Accounting convention These financial slalemenls have been prepad in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" l FRS 102.1, 'Accounting and Reporting by Charities. the Statement of Recommended practi for charities applying FRS 102. the Charities A¢1 2011 and UK Generally AtpIed Accounting Pr8¢1i¢e. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sleding, which is the functional currency of the charity. Monetary amounts in these financial statements are roLJnded to the nearest £. The financial slalemenls have been prepared under the historical cost convention, modified lo include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 2.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue lo adopt the going concern basi5 of accounting in preparing the financial stslemenls. 2.3 Charitable funds Unrestricted funds are available for use al the discretion of the Trustees in furtherance of their charitsble objectives unless the funds have been designated for other purposes. Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial ststements. Restricted funds are subject lo specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes to the financial slalemenls. Endowment funds are subject lo specifi'c conditions by donors that the capitsl Musl be maintained by the charity. 14-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcl&s {Contlnued) 2.4 Incoming resources Income is recognised when the charity Is legally entitled to il after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be reived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance condrtions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on reIpt or otherwise if the charity has been notified of an impending distribution, the amount is known. and reipt is expected. If the amount is not known, the legacy is Irealed as a conlingenl asset. Tumover is measured al the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the nomial course of business, nel of discounts, VAT and other sales related tsxes. 2.5 Re$ourc&s expend Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo 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 aclivily. Direct costs allributsble lo a single activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on 8 basis consislenl with the use of reSoUs. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Expenditure is recognised where there is a legal or conslruclive obligation to make payments lo third parties, il is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds includes fundraising trading costs as listed in note 7 to the financial stalemenls, Expenditure on charitsble activities includes the items listed in note 8 to the financial ststements,. and Other expenditure represents those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include govemance costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to partiCLJlar headings they have been allocated lo Cost of raising funds and expenditure on charitable activities on a basis consistent with use of the reSoUrs. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Costs identifiable or apportioned to fundraising and the shops are included in fundraising trading expenditure. 15-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcl&s {Contlnued) 2.6 Tangible fixed assets Tangible fixed assets are initialty meaSud al cost and subsequently measured at cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings Motor vehicles Over 50 years in equal instalments 15°A per annum on written down value 25% per annum on written down valLJe The gain or loss arising on the disposal of an asset is determined as the difference beleen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 2.7 Fixed a$s91 investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in net incomellexpendilurel for the year. Transaction costs are expensed as Incurred. 2.8 Impairnient of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of ils tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such Indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impairment loss lif any). 2.9 Stocks Stocks are slated al the lower of cost and estimated selling price less costs lo complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution al no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the eslimaled selling Pri less all eslimaled costs of completion and costs lo be incurred in marketing, selling and distribution. 2.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original malurilies of three months or less. 2.11 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial insttumenls are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a nel basis or lo realise the asset and settle the liability simultaneously. 16-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcl&s {Contlnued) Basic financial assets Basic fi'nancial assets, which include debtors and cash and bank balan$, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as re1vable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument is measured al the present value of the future payments discounted al a market rale of Interest. Financial Iiabililies classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction pri and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are dere¢ognised when the charity's conlraclual obligations expire or are discharged or cancelled. 2.12 Employee beneflts The cost of any unused holiday enlillement is recognised in the period in which the employee's serVIS are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably commrted to temiinate the employment of an employee or to provide termination benefits. 2.13 Retirement benefits Payments lo defined contribution retirement benefit schemes are ¢h8rged as an expense as they fall due. 17-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted funds 2021 2021 2021 2020 Donations and gifts Legacies re1vable Grants 81,637 347,924 43,523 81,637 347,924 43,923 94,935 287,035 41,720 400 473,084 400 473,484 423,690 HMRC grants have been received tolalling £34,947 12020.. £10,386) to help with the furloughed staff whilst in a nationwide lockdown due to Covid-19. Cornwall Council - grants have been received totalling £10,764 12020.. £31,334). The local reslriclions support grant has been issued lo help businesses during the national lockdown and Covid-19 outbreak. Charitsble activities 2021 2020 Animal ntre income 48,764 29,183 Investments Unrestricted Endowment funds funds Venton Cgntrg 2021 Total Unrestricted Endowment funds funds Venlon Centre 2020 Total 2021 2021 2D20 2020 Income from listed investments Interest receivable 44,097 7,128 11,227 6,278 55,324 13,406 45,561 7,072 11,709 6,823 57,270 13,895 51,225 17,505 68,730 52,633 18,532 71,165 18-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Other trading activities 2021 2020 Auxiliaries and commission income Income from charity shops Other sales income Event and other income 10,042 13,377 2,681 8,403 4,454 23,695 3,821 3,707 34,S03 35,677 Raising funds Unrostricted Endowment fund$ funds Venton Cèntra Total 2021 Total 2020 Fundraisin and ublici Slalionery, advertising and miscellaneous Goods for resale and fundraising costs Staff costs 820 1,636 746 820 1,636 746 814 65 710 Fundraising and publicity 3,202 3,202 1,589 din cos Operating charity shops Animal Centre goods for resale Support costs (see note 101 7,132 851 14,700 7,132 851 14,700 3,508 1,895 22,700 Trading costs 22,683 22,683 28,103 Investment mana ement 16,943 5,772 22,715 20,595 42,828 5,772 48,600 50,287 Forthe year ended 31 December 2020 Fundraising and publicity Trading costs Investment management 1,589 28,103 15,244 1,589 28,103 20,595 5,351 44,936 5,351 50,287 19-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Charitable activities 2021 2020 Staff costs Depreciation and impairment Centre animal care costs Centre running expenses 462,840 42,897 47,633 50,635 33,111 416,803 44,701 32,71D 37,312 33,439 6,619 10,680 44,636 46,380 5,268 2,912 3,351 50,000 Maintenance fund expenses Centre and future development costs Animal welfare costs lincludes stsff costs) Veterinary fees Payments lo Regional Headquarters Insurance Slalionery, advertising and miscellaneous Contribution lo Branch Emergency Fund Charitable donation 9.278 39.033 52.456 3,308 2,925 2,637 1,000 747,753 734,811 Support costs (see note 101 Governan costs (see note 101 2,664 5,325 3,600 5,597 755,742 744,008 Analysis by fund Unrestricted funds Restricted funds 738.778 16,964 755.742 Forthe year ended 31 December 2020 Unrestricted funds Restricted funds 714,296 29,712 744,008 Trustee8 None of the Trustees lor any persons connected with Iheml received any remuneration during the year. No Trustees were reimbursed for Iravelling expenses12020 - three Trustees were reimbursed £1,047). -20-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 10 Support costs and governance Support Governance costs costs 2021 2020 Basis of allocation Operating lease charges 17,364 17,364 26,300 Actual Audit fees Accountancy Trustees expenses 2,750 2,575 2,750 2,575 2,600 Actual 1,950 Actual 1,047 Actual 17,364 5,325 22,689 31,897 Analysed between Trading Charitable activities 14,700 2,664 14,700 7,989 22,700 9,197 5,325 17,364 5,325 22,689 31,897 11 Net movement in funds 2021 2020 Nel movement in funds is ststed after chargingll¢reditingl Fees payable lo the company's auditor for the audit of the company's financial slalemenls Depieciation of owned tangible fixed assets Loss on disposal of tangible fixed assets Operating lease charges 2,750 42,897 2,600 44,701 17,364 26,300 Fees payable lo the company's auditors for other services lolalled £2,57512020". £1,950). 12 Net gainsl{lossesl on investments Unrestricted Endowment fund5 funds Venton Centre 2021 Total Unrestricted Endowment funds funds Venlon Centre 2020 Total 2021 2021 2020 2020 Revaluation of investments Gainlllossl on sale of investments 177,786 109,719 287,S05 62,650 113,9971 48,653 2.242 150.3081 (48,0661 152,4561 12,4601 154,9161 180,028 59,411 239,439 10,194 116,4571 16,2631 21
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 13 Employees Number of employees The average monthly number of employees during the year was.. 2021 Number 2020 Number Charitable activities Support and administration 24 22 26 24 Employment costs 2021 2020 Wages and salaries Social security costs Other pension costs 449,207 28,232 8,289 387,601 23,210 6,702 485,728 417,513 Included within the above wages and salaries costs is £Nil in relation to employees temiination costs 12020. £7301. The charity operates a defi'ned 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. The pension ch8rge represents contributions payable to the scheme for the year of £8,289 12020." £6,702). There were outstanding contributions payable al the year end of £74212020.. £6111. There were no employees whose annual remuneration was £60,000 or more. 14 Other 2021 2020 Nel loss on disposal of tangible fixed assets 842 -22-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 15 Tangible fixed assets Freehold land Flxture8 and Motor vehlcl88 and bulldlngs flttlngs Total Cost Al 1 January 2021 Disposals 1,906,637 153,383 12,7971 19,813 2,079,833 12,7971 Al 31 December 2021 1,906,637 150,586 19,813 2,077,036 Depreclatlon and Impalrment At 1 JanLJary 2021 Depreciation charged in the year Eliminated in respect of disposals 1,095,392 35,268 114.823 5,658 11,9541 11,927 1,971 1,222,142 42,897 11,9541 At 31 DeMber2O2l 1,130,660 118,527 13,898 1,263,085 Carrying amount At 31 December 2021 775,977 32.059 5,915 813,951 Al 31 December 2020 811,245 38,560 7,886 857,691 Freehold land and buildings represents the Venton Cenlre, Quoil, Sl Columb, Comw811 in which the branch holds an equitable interest in the freehold. The legal ownership Is vested in the national charity, who hold the property as custodian Trustee for the Cornwall Branch. Included in freehold land and buildings is £143.260 12020.. £143,260) of land which has not been depreciated. 16 Fixed a88et investments Listed investmants Cost or valuation At 1 January 2021 Additions Valuation changes Disposals 3,082,713 304,558 287,505 1345,3551 Al 31 December 2021 3,329,421 Carrying amount Al 31 December 2021 3,329,421 At 31 DeMber2o20 3,082,713 The cost of the above investments al 31 December 2021 was £2,729,74312020.. £2,628,625). -23-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 17 Financial instruments 2021 2020 Carrying amount of financial assets Instruments measured at fair value through profil or loss 3,329,421 3,082,713 18 Debtors 2021 2020 Amounts falling due within one year.. Other debtors Prepayments and accrued inwme 64,839 6,520 27,880 7,718 71,359 35,598 19 Stocks 2021 2020 Animal centre slo¢k and goods for resale 9,472 10,625 20 Creditors: amounts falling due within one year 2021 2020 Trade creditors Accruals and deferred income 16,191 16,505 17,620 17,963 32,696 35,583 -24-
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,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 25 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2021 2020 Aggregate compensation 129,321 93,376 Transactions with related parties During the year the charity entered into the following transactions with related parties.. A Trustee is the owner of Rock View Vets. Transactions totslled £53412020.. £Nill for veterinary services in the year. As at 31 Dember 2021, there was £10012020.. £Nill oulslanding. 26 Contingent assets Al the year end the charity had been notified of further legacies likely to be receive(I, however al the dale of approval of these financial slalemenls an estimate of the amount re1vable could not be reasonably quantified. 27 Operating Igasg commitmgnts Le$s&g At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2021 2020 Within one year Between two and five years 17,146 7,581 15,204 9,625 24,727 24,829 28 Analysis of change5 in net funds The chaiity had no debt during the year. 30-
,RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 29 Cash generated from operations 2021 2020 Surpluslldeficill for the year 59,736 1240,8431 Adjustments for.. Investment income recognised in profil or loss Loss on disposal of tangible fixed assets Loss on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets {68.7301 842 48,066 1287.5051 42,897 171 1651 54,916 148,6531 44,701 Movements in working capital". Decrease in stocks {Increasel in debtors {Decreasel in creditors 1.153 {35,7611 12,8871 3,432 11,0611 12,3531 Cash absorbed by operations 1242,1891 1261,0261 31