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 BOscav￿n 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. aCkno￿edgIng 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 kno￿edge 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 ne￿ork. 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.
Rese￿eS 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 con￿rn.
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 be￿een 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 y￿th 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 con￿rn 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 De￿mber 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 COn￿M 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 prO￿dureS 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 be￿een 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 be￿een 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 cOn￿M 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 resoU￿e$
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 re￿ived.
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 othe￿iSe 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 be￿een 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 serVI￿S 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-cu￿ent 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 De￿mber 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 un￿strICted funds
{Continued)
P￿VIouS 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-

CDC0￿￿)0 rl
- ￿- U)
00
¢£1 o
00
000
*(00
a)00
oN<D￿0
00(w
tor0￿ O¢Dr¢£J
00￿-
O Ln (D
O¢D(WO
to(0￿￿0
nfDV
>o]O X o)._ w (U o¢i
c c c
c c c c c c
LL LL LL LL LL LL-
(o (n Lo (n (n (n o Lo LQ
oj oj oj oj oj OJ OJ OJ OJ
UUUUL)UUUUUL)L)

cu *<0

J WJ o)

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 re￿1vable 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
Be￿een 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-