RRL Charity ragistration number 1024808 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr C Laurence Mrs J Shepherd Mrs F Varcoe Mr J Pertwee Mr M Mealing Mrs N Howe IAppointed 17 February 20221 IAppointed 17 February 20221 Charty number 1024808 Prlnclpal address The William & Palrirya Venton Animal Centre Quof( ST COLUMB Cornwall TR9 6JS Auditor RRL LLP Peal House Newham Road TRURO Cornwall TR1 2DP Bankars Royal Bank of Scotland 2 Old Town Street PLYMOUTH Devon PL1 1DP Lloyd5 Bank PIC 7 Boscawen Street TRURO Cornwall TR1 2QT Sanlander (London) 2 Trilon 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 Investment advisors Rathbone Investment Management Ltd The Senate Soulhemhay 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 TR1 2NA
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH CONTENTS Page Trustees, report Stslemenl of Trustees, responsibilities Independent auditorfs report Statement of financial activities Balance sheet 10 Stslemenl of cash flows Notes lo the financial statements 12-29
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT RRL FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting poliaes set out in note 1 to the financial slalements and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. leffective 1 January 20191. Objectives and activities The objects of the Branch are lo promote the work and objectives of the National Society- lo promote kindness and to prevent or suppress cruelty to animals by all lawFul means with particular reference to the Cornwall and Isles of Sally areas, in accordance with the policies of the Society. The aim of the branch has been to provide far rea¢hing care for all animals throughout the branch area in the most cost-effective way. This has been achieved in collaboration with the RSPCA inspeclorale that is funded by the national Society. Achievements and perfomiance The branch has managed to achieve a number of the aims and objectives set out in last year's report. In May, the branch held its first AGM since 2019 as we welcomed members lo come along and meet our new, locally elected ttuslees. The committee ha5 worked extremely hard lo build a strong leadership team of professionals which bring together relevant skills, knowledge and experience lo work cohesively in the best interests of the branch. 2022 was another extremely busy year for us and we have certainly stepped up lo the challenge. Imiilst the worfd began to get back to normal after the pandemic, we recognised that there was still a risk to our staff and volunteers so we have continued to welcome visitors on an appointment only basis. The success of this approach is evident in our ability to continue to rehome some of the most challenging and neglected animals, ensuring quality lime is spent with new owners during pre and post adoption support. The demand for our services is greater than ever as we entered into a cost-of-living crisis and we continued lo see high demand for animal Space al our cenlre. 504 domestic animals came Into our care during 2022. 400 of which were successfully rehomed. Others were transferred lo neighbouring RSPCA branches where they would appeal lo a new audience, and sadly 40 animals did have lo be euthanised for health and behavioural reasons followng veterinary and behaviourisl advice. Another devastating virus soon had a huge impact on our operations in 2022 in the form of Avian Flu. This virus has wiped out huge numbers of seabirds throughout Cornwall and meant restrictions were placed on our ability to rescue, rehabililale and rehome all birds. This accounts for the reduction in the number of wildlife we were able ID admit lo the cenlre, we saw just 59 animals this year, we are hopeful that DEFRA reslriclions will ease next year and we can continue lo ensure we are there for the wldlife that need our help throughout Cornwall. As our branch Animal Welfare team worked tirelessly throughout Cornwall with the aim lo support owners lo keep their animals with them, the branch issued 177 vouchers for veterinary welfare support. 134 animals were microchipped in the community and we paid for neutering vouchers for 231 animals. The recruitment of our new Clinical Animal Behaviourist in October has meant we have also been able to provide specialist care to all of the animals at our centre, giving them the best Possible Chan of finding a new home. To support owners during the cosl-of-living crisis who have decided lo relinquish their animal, we have been there to offer behavioural advi and support with the aim of keeping that animal In the home. This is in addition lo the puppy and dog training classes that we have launched at the branch, ensuring that animals have the best possible start in life and leaching responsible animal ownership throughout the community. We continue lo offer off lead exercise facilities for dogs in the community through the use of our secure field, this has grown in popularity throughout the year and is a reliable source of income.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 RRL We are passionate about our prevention and education work and following a surge of interest for available placements, we recruited an Education OffIr lo support our Prevention Manager in the delivery of our animal welfare programmes which support young people from disadvantagèd backgrounds lo build empathy and compassion for all animals. This work is fully funded through our partnership agencies such as Social Services and the NHS. During 2022 we reached over 1500 children and young people. The bran¢h took part in the Kickslart scheme to support young people into work. We supported four young people for six months. teaching them new skills and knowledge. The scheme was extremely successful and we were lucky enough to find a person with huge potential that we have now recruited on a full lime basis. As part of our five-year strategy implemenlalion, the branch opened two new charity shops Lluring the year. With premises in Truro opening in August and Nwquay in December. These shops will enable us lo build new community relationships and provide much needed funds for the branch. Meeting different audiences and promoting our work in these new areas will build resilience and future support. We continued lo develop our income diversity through the introduction of our new corporate sponsorship scheme and enjoyed many events at the ¢enlre including our Summer Fayre and dog show, Easter and Halloween events and our Christmas Fayre. The branch makes extensive use of a wde variety of willing volunteers. Unfortunately, following the pandemic, some volunteers decided not to return and we wish them all the best for the future and thank them for their hard work. We have carried out several volunteer recruitment drives and now have 179 branch volunteers that support us in many ways either working directly al the centre or supporting our charity shops in hands-on roles. Other volunteers have been recruited specifically to carry out fundraising activities as part of our team or individually. Several of these have been given 'Community Officer, roles which see them becoming champions of animal welfare in their home towns throughout Cornwall. spreading the message of the work that we do. We are extremely grateful to all of our volunteers 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 successfully recruited 110 fosterers throughout 2022. This area of volunteering is so important lo ensure animals that find kennel and cattery life very difficult, can be placed in a home environment wth the best possible chance of a positive future. Financial review Incomè for the year was £902,226 and expènditure was £1,076,785, giving a trading deficit of £174,559. The deficit was further increased lo £457,086 by losses in investment values of £282,527. The branch uses investment managers Brewin Dolphin and Rathbones and risk levels are 'Caulious with risk, and 'Lower risk, respectively. This is designed to provide a dividend income whilst protecting capital. The branch continues to operate a Finance committee to focus on branch finances. The committee carried out a full review of our investment portfolio in 2022. Following considerable research and proposals from several investment houses, trustees decided lo move forward Into 2023 carrying our investments using only Brewin Dolphin. The proportion of income for the branch provided by lègacies remains high The branch rèmains committed to building diverse income streams to avoid reliance on legacy income. This continues to be extremely challenging in the light of the cosl-of-living crisis. The branch has cash reserves and will therefore remain in a sustainable position for the foreseeable future, however the cost of the future building works and cost of living crisis on the economy and individual's ability to donate, increases the need to source additional and diverse income streams. ReseeS policy The charity relies heavily on donations and legacies, both of which can fluctuate enormously from year lo year lo fund rts animal welfare work in the county including the running of the Animal Centre. Trustees are continually monitoring the level of free reserves, however, the ongoing economic crisis owing lo the coronavirus pandemic, cost of living crisis and Brexit, has affected both investment values, donations and legacy income and consequently il is thought advisable lo reconsider the reserves policy in the light of income during 2023. Free reserves are defined as unrestricted funds not held as tangible assets or designated for particular purposes. As at 31 De¢ember 2022 free reserves totalled £809,538 which equates to just over 9 month's operating expenditure. The trustees consider the charity to be a going concern. The Trustees have assessed the major risks lo which the charity Is exposed, and are satisfied that systems are in place to mitigate exposure lo the major risks.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 RRL Plans for future periods The National Society will be introducing a new Partnership agement with branches in 2023 that will enable us to become an Charitable Incorporated Organisalion. As soon as this is possible. trustees will apply lo the Charity Commission to do so. The branch reiVed full planning permission in 2022 to go ahead with our new build plans as part of our current five-year strategy. Vve anticipate this work will begin in 2023 and will provide much needed accommodation that is fit for purpose lo our dogs on site. The build wll also include a new training bam with multipurpose use, enabling us ID have an indoor area lo carry out our public dog training classes and lo build upon our current Prevention and Education work. This facility will provide a safe learning space that will also enable us to begin welcoming holiday club children on sile from 2023, providing crucial prevention work as well as further income. The branch places huge emphasis on investment in stsff development. We have enrolled one of our Current staff members onto a Level 3 City and Guilds Dog Grooming wurse. which will allow us to provide grooming SeNiS to the public from 2023. This service ll11 not only promote responsible dog ownership and prevent suffering bul will provide future income from more diverse streams. We are committed lo working towards minimising our environmental Impact and will be installing solar panels in 2023 which will power a considerable part of our animal Centre. We have also upgiaded our healing and Iighling systems lo reduce energy consumption and costs. The branch plans lo open one further charity shop in 2023 to build on our community presence and source sustainable income. StruUre. governance and management The charity is legally a charitable unincorporated association i.e., a group of individuals who are committed to a purpose which is charitable according to 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. The Trustees held an AGM in May 2022 and elected five Iruslees. One further trustee was then ¢(OpIed lo serve on the committee for twelve months. The remuneration package of staff is controlled by the Iruslees and is sel in relation lo the conditions in other Comparable RSPCA Cenlres and branches. The Trustees who served during the year were.. Mrs C Allan (Until 12th May 20221 Mr C Laurence IC(Fopted 12th May 20221 Mrs J Shepherd (Elected 12th May 20221 Mrs F Varcoe (Elected 12th May 20221 Mr J Pertwee (Elected 12th May 20221 Mr M Mealing (Elected 12th May 20221 Mrs N Howe (Elected 12th May 20221 The senior staff during the year were.. Mrs E Bowen - Chief Executive Officer Mrs K Evans- Finance Manager Miss H Jones- Centre Manager Mrs LAndrew- Administrator The Trustees, port was approved by the Board of Trustees. Mr J Pertwee Trusteg 2 May 2023
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pradicel. The law applicable to charities in England and Wales requires the Trustees lo prepare financial stslemenls for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resoLJr¢es of the charity for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently", observe the methods and principles in the Charities SORP", make judgements and eslimales 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 slalements on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the fi'nancial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hen for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH Opinion We have audited the financial statements of Royal Society for the Prevention of Cruelly to Animals Cornwall Branch Ilhe 'charty'l for the year ended 31 December 2022 which comprise the statement of financial aclivrties, the balance sheet, the slalement of cash flows and the notes to the financial slalements, 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 R&porting Standard applicable in the UK and Republio of I}nd (United Kingdom General1YAepted Accounting Pra¢licel. In our opinion, the financial slatemenls.. give a true and fair view of the slate of the charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance wlh United Kingdom Generally Accepted Accounting Practice," and have been prepared in accordance with the requirements of the Charities Ad 2011. Basis for opinion We conducted our audit in accordance wlh International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilorts responsibilrties 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 financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance ¥Mth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng conc&rn In auditing the financial statements, we have conduded that the Trustees use of the going concern basis of accounting in the preparation of the financial slaternenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, Individually or collectively, may cast significant doubl on the charity's ability lo Continue as a going concern for a period of at least fvjelve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going Conrn are described in the relevant sections of this report. Other Infomiatlon The other Information comprises the information included In the annual report other than the financial slalements and our auditor's report Ihereon. The Trustees are responsible for the other information contained wthin the annual report. Our opinion on the financial 51alemenls does not cover the other Infotmation and we do not express any fotrn of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the Course of the audit, or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misstatemenls, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report In this regard. Matters on which are required to report by exception We have nothing lo report in respect of the following matters 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 statements is inconsistent in any material resped with the Trustees, 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 received all the Information and explanations we require for our audit.
RRL 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 CORNWALL BRANCH Responsibilities of Trustees As explained more fully in the slalement of Trustees, responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees detemine is necessary lo enable the preparation of financial statements that are free from material misstslemenl, whether due to fraud or error. In preparing the financial slalements. the Trustees are responsible for assessing the charity's ability to continue as a going Concern, disclosing. as applicable, matters related to going concern and using the going ¢oncern basis of accounting unless the Trustees either intend lo ¢ease operations, or have no realistic altemative but to do so. Audltorfs responslbllltlgs for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance wth the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS IUKI will always detect a material misstslemenl when il exists. mi551alemen15 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 slatemenls. Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, oulined above, to detect material misstatements in respect of irregularities, including fraud. As part of our aLJdit work, we obtained an understanding of the legal 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 statements such as the Charities Act 2011, and cornpliance wth the Gharilies Statement of Recommended Practice. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial slalemenls bul compliance with which may be fundamental lo the Charity's ability lo operate or lo avoid a material penalty. These include animal welfare, data protection, health and safety, licensing acts, gambling acts and employment legislation. The specific procedures for this engagement and the e*cent to which these are capable of dele¢ling irregularities, including fraud is detailed below.. Review of the disclosures in the financial statements and testing to supporting documentation lo assess Complian with provisions of relevant laws and regulations described as having a direct effect on the financial stalemenls., Enquiries of management wncerning actual and potential liligalion and claims", Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misslalement due to fraud", Reviewing minutes of Trustee meetings and corresponden 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 business and reviewing accounting eslimales for potential bias. We also Communicate relevant identified laws and regulations and potential fraud risk to all engagement team members and remain alert lo any indications of fraud or non-compliance wth 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 lèading to a matèrial misslatemenl in the financial statements or non-compliance wrth regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalements, as we will be less likely lo become aware of instsnces 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 misrepresentation.
RRL 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 CORNWALL BRANCH A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklOur-WorklAudiVAudit-and-assurancelStandards-and-guidancelStandards-an&guidance-for- auditorslAuditors-respDnsibilities-for-audiVDescriplion-of-audilors-responsibililies-for-audit.aspx. This description fomis part of our auditor's report. This report is made solely lo the charity's Trustees, as body, in accordance wth part 4 of the Char(ties (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's trustees those mallers we are required to slate lo them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to 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. RRL LLP 19 May 2023 Chartered Accountants ststutory Auditor Peal House Newham Road TRURO Cornwall TR1 2DP RRL LLP is eligible for appointment as auditor of the charity by virtue of its 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 2022 Current financial year Unrestrlcted Endowment Restrlcted funds funds funds Venton Centre 2022 Total Totsl 2022 2022 2022 2021 Notes Income from: Donations and legacies Charitable activities To promote kindness and lo prevent or suppress cruelty lo animals Other trading adivities Investments 613,935 30,117 644,052 473,484 99,614 83,567 53,990 99,614 83.567 74.993 55,840 27,427 68.730 21,003 Total Income 851,106 21,003 30,117 902.226 625,481 enditure on- Raising funds 96,038 5,761 101,799 48,600 Charitable activities To promote kindness and to pvent or suppress cruelty lo animals 919,080 55,597 974,677 755,742 Total charitable èxpenditure 919,080 55,597 974,677 755,742 other 14 309 309 842 Totsl 9xpendllurg 1,015,427 5,781 55,597 1,076,785 805,184 Net gainslllossesl on investments 12 1229,4961 153,0311 1282,527} 239,439 Net loutgoingllincoming resources before transfers 1393,8171 137,7891 125,4801 1457,086} 59,736 Gross transfers between funds {10,0001 10,000 Net movement in funds 1403,8171 137,7891 115,4801 1457,086} 59,736 Fund balances at 1 January 2022 3,384,364 892,887 305,494 4,582,745 4,523,009 Fund balan$ at 31 Dmber 2022 2,980,547 855,098 290,014 4.125,659 4,582,745 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditLJre is derived from continuing activities.
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 2022 Prior financial year Unrestrlcted Endowment Re$trlcted funds funds funds Venton Centre 2021 Totsl 2021 2021 2021 Notes Income from: Donations and legacies Charitable activities To promote kindness and to prevent or suppress cruelly to animals Other trading adivities Investments 473,084 400 473,484 55,840 27,427 51,225 55,840 27,427 68.730 17,505 Total Income 607,576 17,505 400 625,481 enditure on- Raising funds 42,828 5,772 48,600 Charitable activities To promote kindness and to prevent or suppress cruelly to animals 738,778 16,964 755,742 Total charitable èxpenditure 738,778 16,964 755,742 other 14 842 Totsl 9xpendllurg 782,448 5,772 16,964 805,184 Net gainslllossesl on investments 12 180,028 59,411 239,439 Net loutgoingllincoming resources before transfers 5,156 71,144 116,564} 59,736 Gross transfers beeen ftjnds 152,960 1152,9601 Net movement in funds 158,116 181,8161 116,564} 59,736 Fund balances al 1 January 2021 3,226,248 974,703 322,058 4,523,009 Fund balances at 31 December 2021 3,384,364 892,887 305,494 4,582,745
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Flxed assets Tangible assets Investments 772,133 3,031,703 813,951 3,329,421 16 3,803,836 4,143,372 Current assets Stocks Debtors Cash at bank and in hand 19 18 12,406 55,516 288,347 9,472 71,359 391,238 356.269 472,069 Creditors: amounts falling due within one year 20 134,4461 132,6961 Net current assets 321,823 439,373 Total assets less current liabilities 4,125,659 4,582,745 Income funds Restricted funds Endowment funds- Venton Centre Unrestricted funds Designated ftjnds General unrestricted funds 23 24 290,014 855.098 305,494 892,887 21 2,171,009 809,538 1,684,375 1,699,989 2.980.547 3,384,364 4,125,659 4,582,745 The financial statements were approved by the Trustees on 2 May 2023 Mr J Pertwee Trustee 10-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Cash flows from operatlng actlvltles Cash absorbed by operalions 29 1193,0751 1242,189} Invgstlng actlvltl&s Proceeds on disposal of tangible fixed assets Purchase of investments Proceeds on disposal of investments Interest received 1256,5051 271,696 74,993 1304,5581 297,289 68,730 Net cash generated from investing activities 90,184 61,462 Net cash used in financing activities Net dg¢r9a$g In ¢a$h and cash gqulva19nls 1102,8911 1180.727) Cash and cash equivalents at beginning of year 391,238 571,965 Cash and cash equlvalents at end of year 288,347 391,238
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity inforniation Royal Society for the Prevention of Cruelty to Animals Cornwall Branch is a charitsble unincorporated asso¢ialion registered in the United Kingdom. The address of the registered office is given in the ¢harily information page of these financial slalemenls. 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 to prevent or suppress cruelty to animals by all lawftjl means with particular reference to the area of the Branch, in accordance with the policies of the Soaety. 1.1 Accounting convention These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland I'FRS 1021, "Accounting and Reporting by Charities. the Slalement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK GenerallyA¢cepted Accounting Practice. The charity is a Public Benefit Enlily as defined by FRS 102. The financial slalements are prepared in slet1ing, which is the functional currency of the charity. Monetsry amounts in these financial ststemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the ¢harity has adequate resOurS to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Designated funds comprise funds which have been set aside at the discretion of the Tiuslees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial slalements. Reslricled ftjnds are subject to specific Conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the finanaal statements. Endowment funds are subject lo specific conditions by donors that the caprftal must be maintained by the charity. 1.4 Incomlng resoUe$ Income is recognised when the charity is legally entiued to it after any Performan conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as conlingenl asset. 12-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcles Icontlnuedl Turnover is measured al the fair value of the consideration received or receivable and represents amounts receivable for goods and seNices provided in the normal course of business, net of discounts, VAT and other sales related taxes. 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation ¢an be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable ID a single activity are allocated diredy lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single activity are apportionèd between those aclivilie5 on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges a allocated on the portion of the asset's use. Al expenditure is accounted for on an accruals basis and has been dassified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments lo third parties, il is probable that the settlement wll be required and the amount of the obli9alion can be measured reliably. It is categorised under the followng headings.. C051s of raising funds Indudes fundraising trading costs as listed in note 7 to the financial slalements., Expenditure on charitable activities includes the items listed in note 8 to the financial statements,. 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 bul do not directly represent charitable activities and include governance cost5. They are incurred directly in support of expenditure on the objects of the charity. IM)ere support costs cannot be directly attributed lo particular headings they have been allocated lo cost ol raising funds and expenditure on charitable activities on a basis consislenl wth use of the resources. Fundraising costs are those incurred in seeking voluntary contributions and do not indude the costs of disseminating information in support of the charitable activities. Costs identifiable or apportioned to fundraising and the shops are induded in fundraising trading expenditure. 1.6 Tangible fixed assets Tangible fixed assets over £500 are initially measured al cost and subsequently measured al cost or valuation, net of depreciation and any impairment losses. Depreciation is recogni5ed so as lo write off the cost or valuation of assets lèss their residual valuès over their useful lives on the following bases". Freehold land and buildings Fixtures and fittings Motor vehicles Over 50 years in equal instslmenls 15% per annum on written down value 250A per annum on written down value The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 13-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcles Icontlnuedl 1.7 Flxed asset Investments Fixed asset investments are inib'ally measured at transaction pri excluding transaction costs, and are subsequently measured al fair value at each reporting dale. Changes in fair value are recognised in net incornellexpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amoLJnts of its 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 to determine the extent of the impairment loss lif any). 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the eslimaled selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-tem liquid investments with original malurilies of three months or less. 1.11 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of ils finanaal instrLJments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the conlraclual provisions of the Inslrumenl. Financial assets and liabilities are offset. wf(h the nel amounts presented in the financial stslemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction pri including transaction costs and are subsequently carried at amortised cost using the effective Interest method unless the arrangement constilules a financing transaction, where the transaction Is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequendy carried al amortised cost, using the effective interest rale 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 price and subsequenuy measured al amortised cost using the effective interest method. 14-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcles Icontlnuedl Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Employee beneflts The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are received. Temiinalion benefits are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employment of an employee or to provide termination benefits. 1.13 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltl¢al ac¢ountlng gstlmat9s and Judggm9nts In the application of the charity's accounting policies. the Trustees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sOUrs. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales arè recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donatlons and legacles Unrestricted Restricted funds fund$ Total Unrestricted ftjnds Restricted funds Total 2022 2022 2022 2021 2021 2021 Donations and gifts Legacies receivable Grants 73.604 540,331 5,250 78,854 540,331 24,867 81,637 347,924 43,523 81.637 347,924 43,923 24,867 400 613,935 30,117 644,052 473,084 400 473,484 HMRC - grants have been received tolalling £Nil12021.' £34,947) lo help wth the furloughed stsff whilst in a nationwide lockdown due to Covid-19. Cornwall Counal - grants have been received totalling £Nil 12021.. £10,764). The local restrictions support grant has been issued to help businesses during the national lockdown and Covid-19 outbreak. KickStart- grants have been received lotslling £24,86712021.. £Nill to help young people back into work. 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 2022 Charitable activitie5 2022 2021 Animal centre income Education income 90,872 8.742 55,840 99,614 55,840 Investments Unrestricted Endowment funds funds V&nton Centr9 2022 Total Unrestricted Endowment funds funds Venton Centre 2021 Total 2022 2022 2021 2021 Income from listed investments Interest receivable 49,625 4,365 15,198 5,805 64,823 10,170 44,097 7,128 11,227 6,278 55,324 13,406 53,990 21,003 74.993 51,225 17,505 68,730 Other trading activities 2022 2021 Auxiliaries Income from charity shops Olhei sale5 Income Event and fundraising income 3,729 64,311 3,200 12.327 2,966 13,377 2,681 8,403 83,567 27,427 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 2022 Raising funds Unrestricted Endowment funds funds Venton Centre Total 2022 Total 2021 Fundraisin and ublici Slalionery. advertising and miscellaneous Goods for resale and fundraising costs Staff costs 303 2,368 798 303 2,368 798 820 1,636 746 Fundraising and publicity 3,469 3,469 3,202 Tradin costs Operating charity shops Animal Centre goods for resale Support costs Isee note 101 43,651 909 31,335 43,651 909 31,335 7,132 851 14,700 Trading costs 75,895 75,895 22.683 Investment mana emenl 16,674 5,761 22,435 22,715 96,038 5,761 101,799 48,600 For the year ended 31 December 2021 Fundraising and publicity Trading costs Investment management 3,202 22,683 16,943 3,202 22,683 22,715 5,772 42,828 5,772 48,600 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 2022 Charitable activitie5 2022 2021 Animal centre direct costs (including staff costs) Depreciation and impaimienl Centre running expenses 579,539 41.509 58,223 35,048 8,310 61,434 52,799 82,539 15321 2.977 7,812 1,000 34.503 510,473 42.897 50,635 33,111 Maintenance fund expenses Development fund costs Animal welfare costs lincludes staff costs) Veterinary fees Payments lo Regional Headquarters Insurance Slalionery, advertising and miscellaneous Charitable donation Education costs (includes staff costs) 9,278 39,033 52,456 3,308 2,925 2,637 1,000 965,161 747,753 Support costs Isee note 101 Governance costs (see note 101 1,666 7,850 2,664 5,325 974,677 755,742 Analysis by fund Unrestricted funds Restricted funds 919,080 55.597 974,677 For the year ended 31 December 2021 Unrestricted funds Restricted funds 738,778 16,964 755.742 Trustees None of the Trustees lor any persons connected with them) received any remuneration during the year. No trustees were reimbursed for travelling expenses12021 No Iruslees were reimbursed). 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 2022 10 Support costs and governance Support Governanco Costs costs 2022 2021 Basls of allocatlon Operating lease charges 33,001 33,001 17,364 Adual Audit fees Accountancy 4,500 3,350 4,500 3,350 2,750 Actual 2,575 Actual 33,001 7,850 40,851 22,689 Analysed beeen Trading Charitable activities 31,335 1,666 31,335 9,516 14,700 7,989 7,850 33,001 7,850 40,851 22,689 11 Net movement In funds 2022 2021 Nel movement in funds is slated after Chargin(creditIngI Fees payable lo the company's auditor for the audit of the company's financial slalements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets Operating lease charges 4,500 41.509 309 33,001 2,750 42,897 842 17,364 Fees payable lo the company's auditors for other services lotalled £3,35012021.' £2,575). 12 Net gainsl{lossesl on investments Unrestricted Endobvment funds funds Venton Centre 2022 Total Unrestricted Endo¥Mnent funds funds Venton Centre 2021 Total 2022 2022 2021 2021 Revaluation of investments Gainlllossl on sale of investments 1216,2001 151,8181 1268,0181 177,786 109,719 287,505 113,2961 11,2131 114,5091 2,242 150,3081 148,0661 1229,4961 153,0311 1282.5271 180.028 59,411 239.439 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 2022 13 Employees Numberofemployees The average monthly number of employees during the year was". 2022 Number 2021 Number Charf(able activities Support and adminislralion 31 24 33 26 Employment costs 2022 2021 Wages and salaries Social security costs Other pension costs 623.471 40,550 9,080 496.840 28,232 8,289 673,101 533,361 Included within the above wages and salaries costs is £Nil in relation lo employees temiination cosls12021". £Nill. The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension charge represents contributions payable lo the scheme for the year of £9,08012021'. £8,2891. There were oulslanding contributions payable at the yèar end of £84212021". £7421. There were no employees whose annual remuneration was £60,000 or more. 14 Other 2022 2021 Nel loss on disposal of tangible fixed assets 309 842 -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 2022 15 Tangible fixed assets Fr88hold land Fixtures and Motor vehicles and building5 rittings Total Cost At 1 January 2022 Disposals 1,906,637 150.586 12,2141 19,813 2,077.036 12,2141 At 31 December 2022 1,906,637 148,372 19,813 2,074,822 Depreciation and impairment At 1 January 2022 Depreciation charged in the year Eliminated in respect of disposals 1,130,660 35,268 118,527 4,763 11,9051 13,898 1,478 1,263,085 41,509 11,9051 Al 31 December 2022 1,165,928 121,385 15,376 1,302,689 Carrying amount Al 31 December 2022 740,709 26,987 4,437 772,133 Al 31 December 2021 775,977 32,059 5,915 813,951 Freehold land and buildings represents the Venton Cenlre. Quoit. Sl Columb, Comwall in which the branch holds an equitable interest in the freehold. The legal o¥Nnership is vested in the national ¢harily, who hold the property as custodian Trustee for the Cornwall Branch. Induded in freehold land and buildings is £143,26012021'. £143,260) of land which has not been depreciated. 16 Fixed asset invastments Listed investments Cost or valuation Al 1 January 2022 Additions Valuation changes Disposals 3,329,421 256,505 1268,0181 1286,2051 Al 31 December 2022 3,031,703 Carrying amount Al 31 December 2022 3,031,703 Al 31 December 2021 3,329,421 The cost of the above investments al 31 December 2022 was £2,755,19012021'. £2,729,743). 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 2022 17 Financial instruments 2022 2021 Carrying amount of financial assets Instruments measured al fair value through profit or loss 3,031,703 3,329,421 18 Debtors 2022 2021 Amounts falling due within one year: Other debtors Prepayments and accrued income 38.466 17,050 64.839 6,520 55,516 71,359 19 Stocks 2022 2021 Animal centre stock and goods for resale 12,406 9,472 20 Creditors: amounts falling due within one year 2022 2021 Trade creditors Accruals and deferred income 18.722 15,724 16,191 18,505 34,446 32,696 -22-
io ts) ¢fj o O tr))0 (n ¢D O ¢D ¢Orfl O Ory)0 (N N (r> v ¢FJ ¢D )¢000 o ¢D O (Ti ¢N iLZ
E5 o)D Z5 ¢n (o tsj *a) oo¢o Lr) 4) r) wj o) ) o ( om Z5 Lf) * cy iLZ
O e4 ¢0 O¢Dr¢D ortrlo ON OON oNco (00 ) ¢D fo ry) DJ O (TJ OOTr ) o ¢0 ¢D iLZ zs c c c c c c c LL LL LL LL LL LL LL £££££££ Lfj UJ L)UUUL)UUL)U(J
iLZ Ow U
co ¢LI J U) iLZ
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 25 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2022 2021 Aggregate compensation 146,570 129,321 Transactions with related parties During the year the charity entered into the followng transactions with related parties.. A Trustee is the owner of a local veterinary pra¢lice. Transactions tolalled £5.92012021.' £5341 for veterinary services in the year. As at 31 December 2022, there was £341 12021.. £1001 outstanding. 26 Contlngent assets Al the year end the charity had been notified of further legacies likely to be received, however al the date of approval of these financial slalements an estimate of the amount receivable could not be reasonably quanb'fied. 27 Operating lease commitments Lessee Al the reporting end date the charity had outstanding commitments for ftjlure minimum lease payments under non-can¢ellable operating leases, which fall due as follows.. 2022 2021 Within one year Between two and five years 45,621 50,660 17,146 7,581 96,281 24,727 28 Anaty$l$ of chang0$ In ngt funds The charity had no debt during the year. -28-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 29 Cash generated from operations 2022 2021 IDeficitl/surpus for the year 1457,0861 59,736 Adjustments for". Investment income recognised in profit 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 174,9931 309 14,509 268,018 41,509 168,7301 842 48,066 1287,5051 42,897 Movements in working capital.. Ilncreaselldecrease in stocks Decreasellincreasel in debtors Increaselldecrea5el in creditors 12,9341 15.843 1,750 1,153 135,7611 12,8871 Cash absorbed by operations 1193,0751 1242,1891 -29-