Charity registration number 1024808 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs J Shepherd Mrs F Varcoe Mr J Pertwee Mrs N Howe Drslfe Mrs G Auden MrGLay (Appointed 13 September 2023) (Appointed 20 June 2023) (Appointed 13 September 2023) Charity number 1024808 Principal address The Ihfilliam & Patricia Venton Animal Centre Quoit ST COLUMB Cornwall TR9 6JS Auditor RRL LLP Peat House Newham Road TRURO Cornwall TR12DP Bankers Royal Bank of Scotland 2 Old Town Street PLYMOUTH Devon PL1 1DP Lloyds Bank PIC 7 BOscavn Street TRURO Cornwall TR12QT Bardays Bank PIC 14 King Street TRURO Cornwall TR12RB
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH LEGAL AND ADMINISTRATIVE INFORMATION Investment advisors 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 Comwall TR12NA
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH CONTENTS Page Trustees, report Statement of Trustees, responsibilities Independent auditorfs report Statement of financial activities 10-11 Balance sheet 12 statement of cash flows 13 Notes to the financial statements 14-32
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT RRL FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the charity's governing document. the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)° (effective 1 January 2019). Objectives and activities The objects of the Branch are to promote the work and objectives of the National Society- to promote kindness and to prevent or suppress cruelty to animals by all lawful means with particular reference to the Cornwall and Isles of Scilly areas, in accordance with the policies of the Soaety. The aim of the branch has been to provide far reaching care for all animals throughout the branch area in the most cost-effective way. This has been achieved in collaboration wth the RSPCA inspectorate that is funded by the national Soaety. Our Wision Vision Statement: "Where every animal in Comwall is cherished, protected, and able to live a life free from cruelty and neglect, fostering a community deeply connected to and enriched by its relationship with animals." Mission Statement: "Our mission is to advocate for the well-being of animals by providing compassionate care, advocating for their rights, and promots-ng responsible ownership. Through rescue, rehabilitation, education, and community outreach, we strive to alleviate their suffering, prevent cruelty. and build a society where every animal is treated with dignity and compassion. Together, we work towards a future where animals thrive in a county that cherishes their intrinsic value and safeguards their welfare." Our Values: Compassion: Demonstrating empathy and kindness towards all animals in need, regardless of species or circumstance. Respect: Treating every animal wth dignity. aCknoedgIng their inherent worth and right to a life free from suffering. Integrity: Upholding honesty. transparency, and ethical standards in all our actions and interactions. Collaboration: Working collaboratively with local communities and organisations to maximise our impact and promote collective welfare. Education: Providing comprehensive education and resources to promote responsible pet ownership and understanding of animal needs and welfare issues. Sustainability: Incorporating sustsinable practices into our operations to minimise our environmental impact and ensure long-term effectiveness. Empowerment: Empowering individuals and communities to tske action to improve the lives of animals and create positive change.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 RRL Achievements and performance The branch has been through another challenging year as we faced head on the emergence of a cost-of-living crisis. This had a significant impact on our ability to meet all of our aims and objeclives for the year as we needed to focus our time and resources on the animals in our care and in the wder community. We also needed to re-evaluate our income strategy to invest in more diverse income streams which would allow us to operate sustainably in the future. The branch appointed Rebecca Wlton to head our income generation which gave us the opportunity to begin our organisational review. This will enable us to ensure we have the right resource in the right place to operate in the most effective way for the animals and people in our community. Another part of the review was to look at our external veterinary provider. which we have now changed. We work dosely with Edhen Vets to provide the best possible and most affordable care for our animals. We raised much needed funds at our annual dog show. which S the most successful to date and got creative at Christmas where we hosled wreath making workshops and held Santa Paws events at Watergate Bay and National Trust Trelissick. We succeeded in developing our environmentally sustainable goals through the installation of solar panels at the animal centre which will reduce our carbon footprint as well as utilities costs and support us through the challenges of a changing dimate. The branch continued to build on our excellent trustee board th tsvo new trustees joining us at the branch AGM. The vast array of experience and knoedge on our trustee board allows us to implement our forward-thinking directional approach to animal welfare as a whole. Our presen in the community was expanded throughout 2023 with our Animal Welfare Officers, Education and fundraising teams all working to support the local community through providing much needed advice, financial support and guidance as well carrying out innovative events across the county to reach animals most in need and raise crucial funds and awareness of our work. We also faced Ihe impending legislative change in the ownership of XL Bullies. This was a very upsetting time for our staff team, we have therefore put employee wellbeing setvices in place to support the team. Owners of the breed were suddenly thrust into a new way of having to manage their family pet so support measures were implemented to ensure owners felt empowered to deal with the situation and could neuter their pets and register them by the end of the year. We provided guidance on muzzle training and lead walking to prepare owners for the fvture. We were also extremely lucky to be able to rehome an XL Bully in our care before the end of the year as we are no longer able to do this moving forwards. The branch continued to see the effects of the puppy and kitten booms during the pandemic with animals coming into us that had not received proper socialisation or health care and were extremely difficult to rehome. We were very prudent to have invested in a Clinical Animal Behaviourist who was able to support staff in providing the best care and training to these animals to enable them to have a second Chan at life. Unfortunately. many animals came to us from multi animal households with groups of 30 or more coming in together. This pattem of increased multi animal ownership and hoarding behaviours, which leads to chronic health and behaviour conditions in animals, prompted the branch to explore ways of preventing this behaviour and the associated recidivism that occurs when animals are removed. We have created a collaborative pilot project the charity Cornwall MIND which will address this complex issue through a trauma informed approach centred on mental health support and community engagement. The project has received 50% of the funding required and a national lottery bid will hopefully secure the remaining funds to launch the project in Spring 2024. The demand for our services continued to be oveTwhelming throughout 2023. Restrictions eased on the Avian Flu outbreak but we were still unable to help wth injured wld sea birds as we do not have veterinary facilities at the animal centre to treat them. We hope that 2024 wll allow us to move injured birds on to our animal hospital at West Hatch. We helped 422 animals that came through our doors in 2023, We successfully rehomed 327 of those animals which is a huge achievement for us considering the mental and physical conditions of the animals that came to us, with cruelty cases seeing a large rise in numbers. Others were transferred to neighbouring RSPCA branches where they would appeal to a new audience after staying wth us for more than 6 months wthout being adopted. Sadly 38 animals did have to be euthanised for health and behavioural reasons followng veterinary and behaviourist advice. We provided financial assistance for 183 animals in the community to be neLrtered and provided the help required to get 114 animals seen by a vet to receive urgent medical treatment.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 RRL We continued to offer puppy classes as part of the adoption package and to the public, and dogs are enjoying our off-lead exercise field which continues to be a good source of income for the branch. Our prevention and education work grew considerably in 2023. We were able to expand our placements to incorporate more children from disadvantaged backgrounds. empowering them with the opportunity to rediscover themselves and build crucial bonds with our animals that enables healing in themselves but also for the animals in our care and builds on our aim of creating a society wth compassion and respect for all animals. During 2023 we reached over 100 children and young people through our 6-week programmes and over 3,000 children in the community through our schools and community group programme. We continued to look for ways to improve our retail operation and recruited a dedicated member of the team to manage our shop neork. This role provides support to our current shops as well as looking for opportunities for new premises. We ended our lease in Cambome which had been a financial burden for the branch due to the poor condition of the premises. Our shops in Newquay and Bude performed well and we will continue to build on this. The Truro shop has not performed as well as expected so we have tried a new approach and closed the shop at the end of 2023 to enable us to refit and create a community book and pet shop. This will provide a community space as well as affordable and eccpfriendly pet items. INe hope this new venture will improve performance. Our volunteer network remains incredibly important to us and is crucial to our operations. We offer a wide variety of opportunities for volunteers from dog walking and cat socialisation, to helping out in our charity shops. We are very grateful for all of the support that our volunteers provide and we wll continue to build on our volunteer engagement which will allow us to continue to care for as many animals in need as possible. Financial review Income for the year was £966,975 and expenditure was £1,216,371, giving a trading deficit of £249,396. The deficit was reduced to £145,605 by gains in investment values of £103.791. The branch uses investment managers Brewin Dolphin and risk levels are 1, 5 and 7 respectively- 'Intermediary th returns through income and growth, together with Francis Clark Financial Planning as independent financial advisors. This is designed to provide a dividend income whilst protecting capital. The proportion of income for the branch provided by legacies remains high, the branch remains committed to building diverse income streams to avoid reliance on legacy income. This continues to be extremely Challenging in the light of the cost- 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 to year to fund its 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 to the coronavirus pandemic, cost of living crisis and Brexit, has affected both investment values, donations and legacy income and consequently it is thought advisable to reconsider the reserves policy in the light of income during 2024. Free reseNes are defined as unrestricted funds not held as tangible assets or designated for particular purposes. As at 31 December 2023 free reserves totalled £1,078,856 which equates to a yea¢s operating expenditure. The trustees consider the charity to be a going conrn. Risk Management The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. There is a risk register in place that is discussed at Trustees, meetings where the key risk areas within Govemance, Operational, Financial, Reputation and Compliance are scored beeen Extreme, Moderate. Minor and Insignificant. The potential impact of risks is identified and steps to remove or reduce such risks are agreed with the Truslee board. The personlpersons who are responsible to implement the change are then instructed accordingly. These plans are monitored on a timely basis and additional action is taken where necessary.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 RRL Plans for future periods There was a delay to the National Society introduang a new Partnership agreement with branches that could enable us to become a Charitable Incorporated Organisation. which is an option we intend to explore. The RSPCA lebrateS its 200th anniversary in 2024 and from our own research and archive material. we estimate the Cornwall branch was developed in 1875, meaning il wll be the branch's 150th anniversary in 2025. We aim to work towards some large public events to celebrate this success and so the public recognise us as a charity in our own right. Whilst we align ourselves yth the national society aims and objectives, we will create our own individual vision and mission which is specific to Comwall. This wll fomi our strategy moving forwards. The branch will begin its mu¢h-anticipated building works in early 2024. A new Isolation and Quarantine kennel block will be built as well as a multipurpose barn, which will provide us wth the space to carry out our core activities and education work. The works are due to be completed by October 2024. Our dog grooming facility will open in spring 2024 which will diversify our income streams and provide affordable and welfare focused grooming which can become a huge welfare issue if left. We will aim to provide veterinary care on site for our branch animals through the use of our current veterinary facilities and additional equipment that will mean for routine surgery, our animals will not have to be transported to and from the vets and can recover on site. For those animals with extreme anxiety, we will be able to establish whether additional Irealment is required much more quickly and reduce stress. The branch plans to open one further charity shop in 2024 to build on our community presence and source sustainable income. No suitable premises were found in 2023. We will continue to grow our education and community outreach work, building a new generats.on of animal champions and supporting our local community through the continued challenges we all face. Structure, 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 set up as a Branch of the RSPCA and subject to its governing document, the Rules for Branches as updated in 2012. The Trustees held an AGM in June 2023 and elected five trustees. Two fijrther trustee were then co-opted to serve on the committee for e1ve months and one trustee stepped down. The remuneration package of staff is controlled by the trustees and is set in relation to the conditions in other comparable RSPCA Centres and branches. The Trustees who seNed during the year were: Mrs F Varcoe { Elected 20th June 2023) Mrs J Shepherd { Elected 20th June 2023) Mr J Pertwee { Elected 20th June 2023) Mrs N Howe l Elected 20th June 2023) Mrs G Auden { Elected 20th June 2023) Mr G Lay { CtTropted 20th June 2023) Dr S Ife { Co-opted 20th June 2023) Mr M Mealing {Stepped down June 2023) The senior staff during the year were= Mrs E Bowen - Chief Executive Officer Miss R VMlton- Deputy CEO l Head of Income Mrs K Evans- Finance Manager Miss H Jones- Centre Manager until 19th September 2023 Mrs N Wilkerson- Head ofAnimal Operations from 22nd November 2023 Mr D Rich- Joint Head ofAnimal Operations from 3rd January 2024 The charity is run on a day to day basis by a CEO, appointed by the trustees, who is assisted by the Senior Management Team. The CEO reports to the trustees who continue to have overall responsibility for all decisions.
ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 RRL The Trustees, report was approved by the Board of Trustees. Mr J Pertwee Trustee 13 June 2024
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a twe and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Twstees are required to.. select suitable accounting policies and then apply them consistently- obseNe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in Ihe financial statements., and prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charity 11 continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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 Cruelty to Animals Comwall Branch (the 'charity') for the year ended 31 December 2023 which comprise the statement 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, induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republ of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements- give a true and fair view of the state of the charity's affairs as at 31 Dember 2023 and of its incoming resources and application of resources, for the year then ended" have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS IUK)} and applicable law. Our responsibilities under those standards are further described in the Auditoffs sponsIbl1111eS for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Twstees with respect to going COnM are described in the relevant sections of this report. Other information The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The Twstees are responsible for the other information 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 to read the other information and, in doing so. consider whether the other information is materially inconsistent wth the financial statements or our knowledge obtained in the course of the audit, or othetwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, 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 perfomied, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports} Regulations 2008 require us to report to you if, in our opinion= the infomiation given in the financial statements is inconsistent in any material respect 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 infomiation 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 statement 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 detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations. or have no realistic altemative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in a¢cordan¢e with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditols report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance th ISAS (UK} will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. As part of our audit work. we obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which they operate. l•le 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 compliance with the Charities 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 statements but compliance th which may be ndamental to the Charity's ability to operate or to 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 exient to 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 Complian with provisions of relevant laws and regulations described as having a direct effect on the financial statements., Enquiries of management conceming actual and potential litigation and claims., Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud- Reviewing minutes of Tnjstee 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 business and reviewing accounting estimates for potents.al bias.
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 We also communicate relevant identified laws and regulations and potential fraud risk to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Our audit approach also Considered the opportunities and incentives that may exist within the charity for fraud and identified the greatest potential for fraud being in respect of cut off and completion risk around revenue recognition. Under ISA (UK} we are also required to undertake prOdureS to respond to the risk of management override of controls. Out procedures included the followng.. Undertaking transactional testing on revenue- Undertaking transactional testing and cut off testing on legacy income which specifically considers whether recognition is in line with the requirements of the accounting standards Performing cut off testing on revenue.. Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale for significant transactions outside the normal course of business., Reviewing estimates and judgements made in the accounts for any indication of bias and challenged assumpb'ons used by management in makn'ng estimates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements 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 statements, as we will be less likely to 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 misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https=Il www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report. Use of our report This report is made solely to 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 to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for our audit work, for this report, or for the opinions we have formed. RRL LLP 18 June 2024 Chartered Accountants ststutory Auditor Peat House Newham Road TRURO Comwall 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 2023 Current financial year Unrestricted Endowment funds funds 2023 2023 Restricted funds 2023 Total Total 2023 2022 Notes Income from: Donations and legacies Charitsble activities To promote kindness and to prevent or suppress cruelty to animals 504,357 31,500 535,857 644,052 181.004 181.004 99.614 other trading activities Investments 171,201 63,612 171,201 78,913 83,567 74,993 15,301 Totsl income 920,174 15,301 31,500 966,975 902,226 Expenditure on: Raising funds Charitable activities To promote kindness and to prevent or suppress cruelty to animals 196,472 4,612 201,084 101,799 972,410 42,877 1,015,287 974,677 Other expenditure 16 309 Total expenditure 1,168,882 4.612 42,877 1,216,371 1,076,785 Net gainsl(losses) on investments 12 75,577 28,214 103,791 {282,527) Net incomel(expenditure) (173,131) 38,903 (11,377) 1145,605) {457,086) Transfers beeen funds 311,383 (311,383) Net movement in funds 11 138.252 (272.480) (11.377) 1145,605) {457,086) Reconciliation of funds: Fund balances at 1 January 2023 2.980.547 855.098 290.014 4,125.659 4,582.745 Fund balances at 31 December 2023 3,118,799 582,618 278,637 3,980,054 4,125,659 The ststement of financial activities indudes all gains and losses recognised in the year. All income and expenditure is derived from continuing activities. 10-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Prior financial year Unrestricted Endowment funds funds Endowment fund 2022 Restricted funds Total 2022 2022 2022 Notes Income from: Donations and legacies Charitable activities To promote kindness and to prevent or suppress cruelty to animals Other trading activities Investments 613,935 30,117 644,052 99.614 83.567 53,990 99.614 83.567 74,993 21,003 Total income 851,1( 21,003 30,117 902,226 Expenditure on: Raising funds To promote kindness and to prevent or suppress cruelty to animals Other expenditure 96,038 5,761 101,799 919.080 309 55,597 974,677 309 16 Total expenditure 1,015.427 5.761 55.597 1,076.785 Net losses on investments 12 (229,496) (53,031) {282,527) Net incomel(expenditure) (164.321) 15,242 (25,480) {174,559) Transfers beeen funds (10.000) 10,000 Net movement in funds 11 (403.817) (37.789) (15,480) {457,086) Reconciliation of funds: Fund balances at 1 January 2022 3,384,364 892,887 305,494 4,582,745 Fund balances at 31 December 2022 2,980,547 855,098 290,014 4,125,659 11
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investments 15 17 825,379 2,430,495 772.133 3,031.703 3,255,874 3,803,836 Current assets Stocks Debtors Cash at bank and in hand 20 19 11,992 165,046 594,127 12,406 55,516 288,347 771.165 356,269 Creditors: amounts falling due within one year 21 (46.985) (34.446) Net current assets 724,180 321,823 Total assets less current liabilities 3,980,054 4,125,659 Income funds Restricted funds Endowment funds - Venton Centre Unrestricted funds Designated funds General unrestricted fvnds 278,637 582,618 290,014 855,098 25 23 2.039.943 1.078.856 2,171.009 809.538 3.118.799 2,980.547 3,980,054 4,125,659 The financial statements were approved by the Trustees on 13 June 2024 Mr J Pertwee Trustee 12-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flov from operating activities Cash absorbed by operations 31 (367.232) (193,0751 Investing activities Purchase of tangible fixed assets Purchase of investments Proceeds on disposal of investments Interest received (110,900) (1,600,507) 2.305,506 78,913 (256,505) 271,696 74,993 Net cash generated from investing activities 673.012 90,184 Net cash used in financing activities Net In¢aSe/(deCreaseI in cash and cash equivalents 305,780 (102,8911 Cash and cash equivalents at beginning of year 288,347 391,238 Cash and cash equivalents at end of year 594,127 288,347 13-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 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 carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods vthere the revision affects both current and future periods. Accounting policies Charity infomiation Royal Society for the Prevention of Cruelty to Animals Comwall Branch is a charitable unincorporated association registered in the United Kingdom. The address of the registered office is given in the charity information page of these financial statements. 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 lawfvl means with particular reference to the area of the Branch, in accordance with the policies of the Society. 2.1 Accounting convention These financial statements have been prepared in accordan with FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. {"FRS 102.1, "Accounting and Reporting by Charities. the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in steding, which is the functional currency of the charity. Monetary amounts in these financial statements 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. 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 to adopt the going cOnM basis of accounting in preparing the financial statements. 2.3 Charitable 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 fvnds 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 statements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 14-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies {Continued) 2.4 Incoming resoUe$ Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be reived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perfomiance conditions 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 receipt or otheiSe 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 a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the nomial course of business. net of discounts, VAT and other sales related taxes. 2.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic beneffts will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. All 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 to third parties, it is probable that the settlement wll be required and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds indudes fvndraising trading costs as listed in note 7 to the financial ststements., 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 bui do not directly represent charitable activities and include governance costs. They are incurred directly in support of expenditure on the objects of the charity. ere support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent wth use of the resources. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitsble activities. Costs identifiable or apportioned to fundraising and the shops are included in fijndraising trading expenditure. 15-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies {Continued) 2.6 Tangible fixed assets Tangible fixed assets over £500 are initially measured at Cost and subsequently measured at cost or valuation, net of depreciation and any impaimient 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 vehides Over 50 years in equal instalments 15% per annum on written down value 25% 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. 2.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 2.8 Impairment of fixed assets At each reporting end date, the charity reviews the carying amounts 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 impaimient loss (if any). 2.9 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 to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to 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 wth banks, other short-term liquid investments with original maturities of three months or less. 2.11 Financial 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 its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 16-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies {Continued) Basic financial assets Basic financial assets, which include debtors and Cash and bank balances, 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 finanang transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate 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 at 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 classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or serVIS 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 n0n-cuent liabilities. Trade creditors are recognised initially at transaction pri and subsequently measured at amortised Cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 2.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 2.13 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 17-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restricted nds funds Total 2023 2023 2023 2022 2022 2022 Donations and gifts Legacies receivable Grants 91,535 412,822 91,535 412,822 31,500 73,604 540,331 5,250 78,854 540,331 24,867 31,500 24,867 504.357 31.500 535.857 613,935 30,117 644,052 Government Grants Kickstart - grants have been received from Comwall Council totalling £Nil (2022.. £24,867) to help young people back into work. Volunteers The charity benefits greatly from the involvement and support of its many volunteers. In accordance with the Charities SORP {FRS 102), the economic contribution of general volunteers is not recognised in the financial statements. Charitable activities 2023 2022 Animal centre income Education income 144,823 36,181 90.872 8.742 181,004 99,614 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 2023 Income from investments Unrestricted Endowment funds funds Endowment fund 2023 Total Unrestricted Endowment funds funds Endowment fund 2022 Total 2023 2023 2022 2022 Income from listed investments Interest receivable 32.463 31.149 11.719 3.582 44.182 34.731 49,625 4.365 15,198 5,805 64.823 10.170 63,612 15,301 78,913 53,990 21,003 74,993 Other trading activities 2023 2022 Auxiliaries Income from charity shops other sales income Event and fundraising income 2,518 143,547 4,367 20,769 3,729 64,311 3,200 12,327 171,201 83,567 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 2023 Raising funds Unrestricted Endowment funds funds Venton Centre Total 2023 Total 2022 Fundraisin and ublici Stationery, advertising and miscellaneous Goods for resale and fundraising costs Staff costs 791 2.620 31.399 791 2,620 31,399 303 2,368 798 Fundraising and publicity 34.810 34,810 3.469 Tradin costs Operating charity shops (includes staff costs) Animal Centre goods for resale Support costs (see note 10) 92.163 1,232 50,875 92,163 1,232 50,875 43.651 909 31,335 Trading costs 144,270 144,270 75,895 Investment mana ement 17,392 4,612 22,004 22,435 196,472 4,612 201,084 101,799 For the year ended 31 December 2022 Fundraising and publicity Trading costs Investment management 3,469 75,895 16.674 3,469 75.895 22.435 5.761 96.038 5.761 101.799 -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 2023 Charitable activities 2023 2022 Animal centre direct costs (induding staff costs) Depreciation and impaimient Centre running expenses utilities Maintenance fund expenses Development fund costs Animal welfare costs (indudes staff costs) Veterinary fees Payments to Regional Headquarters Insurance Stationery, advertising and miscellaneous Charitable donation Education costs (includes staff costs) 583,850 57,654 108,051 38,480 579,539 41,509 58,223 35,048 8,310 61,434 52,799 82,539 (532) 2,977 7,812 1,000 34,503 2,906 72,471 70,461 1,908 2,923 4,199 63,456 1.006,359 965.161 Support costs (see note 10) Governan costs (see note 10) 1,053 7,875 1,666 7,850 1,015,287 974,677 Analysis by fund Unrestricted funds Restricted funds 972,410 42,877 1.015,287 For the year ended 31 December 2022 Unrestricted funds Restricted funds 919,080 55,597 974,677 Trustees None of the Trustees (or any persons connected viith them) received any remuneration during the year. No trustees were reimbursed for travelling expenses (2022 - No trustees were reimbursed). 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 2023 10 Support costs and governance Support Governance costs costs 2023 2022 Basis of allocation Operating lease charges Dilapidations provision 44,428 7,500 44,428 7,500 33,001 Actual Audit fees Accountancy 4,725 3.150 4,725 3.150 4,500 Actual 3,350 Actual 51.928 7.875 59.803 40,851 Analysed between Trading Charitable activities 50.875 1.053 50.875 8.928 31,335 9,516 7.875 51,928 7,875 59,803 40,851 11 Net movement in funds 2023 2022 Net movement in funds is stated after chargingl(credits'ng) Fees payable to the company's auditor for the audit of the company's financial statements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets Operating lease Charges 4,725 57,654 4,500 41,509 309 33,001 44,428 Fees payable to the company's auditors for other sepiices totalled £3.150 (2022= £3,350). 12 Gains and losses on investments Unrestricted Endowment funds funds Endowment fund 2023 Total Unrestricted Endowment funds funds Endowment fund 2022 Total 2023 2023 2022 2022 Gainslllossesl arising on= Revaluation of investments Sale of investments 78.717 (3.140) 33,066 (4.852) 111.783 (7.992) (216,200) (13,296) (51,8181 {268,018) (1,213) (14,509) 75.577 28.214 103.791 (229,496) (53,031) {282,527) 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Charitable activities Support and administration 34 31 Total 36 33 Employment costs 2023 2022 Wages and salaries Social security costs other pension costs 746,653 52,393 12,173 623.471 40.550 9.080 811,219 673,101 Included within the above wages and salaries costs is £5,665 in relation to employees temiination costs 12022= £Nil). 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 to the scheme for the year of £12,173 {2022.' £9,080). There were outstanding contributions payable at the year end of £1.157 (2022.. £842). There were no employees whose annual remuneration was more than £60.000. Remuneration of key management personnel The remuneration of key management personnel was as follows" Aggregate compensation 186,792 146,570 -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 2023 15 Tangible fixed assets Freehold land Fixture5 and and buildings fittings Motor vehicles Total Cost At 1 January 2023 Additions 1.906,637 148,372 104,960 19,813 2,074,822 5,940 110,900 At 31 December 2023 1.906,637 253,332 25,753 2,185.722 Depreciation and impairment At 1 January 2023 Depreciation charged in the year 1.165,928 35,268 121,385 19,792 15,376 1,302,689 2,594 57,654 At 31 December 2023 1.201,196 141,177 17,970 1,360,343 Carrying amount At 31 December 2023 705,441 112,155 7,783 825.379 At 31 December 2022 740,709 26,987 4,437 772,133 Freehold land and buildings represents the Venton Centre, Quoit, St Columb, Cornwall 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 Comwall Branch. Included in freehold land and buildings is £143.260 {2022= £143.260) of land which has not been depreciated. 16 Other 2023 2022 Net loss on disposal of tangible fixed assets 309 -24-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Fixed asset investments Listed investments Cost or valuation At 1 January 2023 Additions Valuation changes Disposals 3,031,703 1,600,507 111.783 (2,313.498) At 31 December 2023 2,430.495 Carrying amount At 31 December 2023 2,430,495 At 31 December 2022 3,031,703 The cost of the above investments at 31 Dember 2023 was £2,367,669 (2022.. £2,755,190). 18 Financial instruments 2023 2022 Carrying amount of financial assets Instruments measured at fair value through profit or loss 2,430,495 3,031,703 19 Debtors 2023 2022 Amounts falling due within one year: Other debtors Prepayments and accrued income 38,576 126.470 38,466 17.050 165.046 55.516 20 Stocks 2023 2022 Animal centre stock and goods for resale 11,992 12,406 -25-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Creditors: amounts falling due within one year 2023 2022 Trade creditors Accruals and deferred income 18.527 28.458 18.722 15.724 46,985 34,446 22 Retirement benefit schemes 2023 2022 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 9,470 8,969 23 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2023 Incoming resources Resources expended Transfers Gains and losses At31 December 2023 Capital Reserve Merged Development Fund Cat Neuter Campaign Maintenance Fund Police Bull Breeds General funds 483,959 (40,221) 104,650 548,388 1.624,097 (179,110) 1,444.987 16,135 6,000 (12,967) 9,168 42,329 (9.075) 33,254 4,489 809,538 {343) (1,115,351) 4,146 1,078,856 914,174 394,918 75,577 2,980,547 920,174 (1,168,882) 311,383 75,577 3,118,799 -26-
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 23 unstrICted funds {Continued) PVIouS year: At 1 January 2022 Incoming resources Resources expended Transfers Gains and losses At31 December 2022 Capital Reserve Merged Development Fund Cat Neuter Campaign Maintenance Fund Training Fund Other Funds General funds 509,490 (25,531) 483,959 1.095,531 (61.434) 590.000 1,624.097 14,990 (8,855) 10,000 16,135 50,639 5,045 8,680 1.699,989 (8.310) (5.045) 1420) (905.832) 42,329 (3.771) (606.229) 4,489 809.538 851.106 (229.496) 3.384,364 851,106 (1.015.427) (10.000) 1229,496) 2,980.547 Purposes of designated funds Capital ReseNe - This fund equals the net book value of tangible fixed assets not in restricted funds. Development Fund- This fund is for development of the animal centre and Branch. Cat Neuter Campaign - This fund is for neutering cats in Comwall. Iwaintenance Fund- This fund is for Maintenan of the animal centre. Training Fund- This fund is for training staff. volunteers or Trustees. Poli Bull Breeds- This fund is for a neutering campaign for Bull Breeds of dogs. -27-
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RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 26 Analysis of net assets between funds Unrestricted Endowment funds funds Endowment fund 2023 Restricted funds Total 2023 2023 2023 At 31 December 2023: Tangible assets Investments Current assetsl(liabilities) 548.388 1.860.112 710.299 276.991 825.379 2,430.495 724.180 570.383 12.235 1.646 3,118,799 582,618 278,637 3,980,054 Unrestricted Endowment funds funds Endowment fund 2022 Restricted funds Total 2022 2022 2022 At 31 December 2022: Tangible assets Investments Current assetsl{liabilities) 483,649 2,252.991 243.907 288,484 772,133 3,031,703 321,823 778.712 76.386 1,530 2,980.547 855.098 290,014 4,125,659 27 Related party transactions Transactions with related parties During the year the charity entered into the followng transactions wth related parties= A Trustee is the owner of a local veterinary practice. Transactions totalled £8,153 (2022.. £5,920) for veterinary services in the year. As at 31 December 2023. there was £Nil {2022= £341) outstanding. 28 Contingent assets At the year end the Charity had been notified of further legacies likely to be received, however at the date of approval of these financial statements an estimate of the amount re1vable could not be reasonably quantified. 29 Anatysis of changes in net funds The charity had no material debt during the year. 31
RRL ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS CORNWALL BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 30 Operating lease commitments Lessee At the reporting end date the charity had outstanding commitments for ftrture minimum lease payments under non-cancellable operating leases, which fall due as follows= 2023 2022 Within one year Beeen two and five years 40,360 19,500 45,621 50,660 59,860 96.281 31 Cash generated from operations 2023 2022 Deficit for the year 1145,605) {457,086) Adjustments for= Investment income recognised in profit or loss (Gain)Iloss 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 (78,913) {74,993) 309 14,509 268.018 41.509 7,992 (111.783) 57.654 Movements in working capital.. Decreasel(in¢rease) in stocks (Increase}Idecrease in debtors Increase in creditors 414 1109,530) 12,539 {2,934) 15,843 1,750 Cash absorbed by operations 1367,232) {193,075) 32 Auditor's liability limitation agreement For the year ended 31 December 2023. the charity entered into a liability limitation agreement with its auditors, the principal temis of which limit the liabilty of the auditors to £5,000,000 to relation to their responsibilities as auditors of the charity. The date this was agreed by the charity was 26 April 2024. -32-