,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

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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

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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

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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 Suc￿sSfUllY 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.

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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 We￿are 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 fa￿S 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 s￿￿eSsfullY 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.

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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 aC￿pIable
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.

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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 Perh￿ee
(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 OffI￿r from 1 November 2021, Branch Development OffI￿r 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

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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 con￿rn 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 Saf￿￿arding 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 A￿land (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
reSoUr￿S 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 unPre￿dented levels of Un￿rtaintY. 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 re￿iVed 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 I￿al 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.

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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-

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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-

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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 re￿iVed
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-

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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 prepa￿d 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 At￿pIed 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-

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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 re￿ived.
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 re￿Ipt or otherwise if the charity has been notified of an impending
distribution, the amount is known. and re￿ipt 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 be￿een those activities on
8 basis consislenl with the use of reSoU￿s. 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
reSoUr￿s.
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-

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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 meaSu￿d 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 bel￿een 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-

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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 re￿1vable 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 serVI￿S
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-

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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 re￿1vable
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-

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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-

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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-

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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 De￿Mber2O2l
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 De￿Mber2o20
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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I

,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 De￿mber 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 re￿1vable 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