Company Registration No. 02723670 Registered tharity England & Wales No. 1059879 Registered Charity in 5cotlanLf No. SC038199 FREEDOM FOOD LIMITED Dirertors. and Trustees. Report and Attounts 31 December 2020
FREEOOM FOOD LIMITED REPORT AND ACCOUNT5 2020 CONTENTS PaRe Olli£er5 and professional advi5er5 Directors. and Trustees. report Directors, and Trusrees, sraiement of responsibilities Independeni Audiior's rep¢Yt Statement of financial activities io Balance Sheet li Cash flow Statement 12 Note5 to the aetounts 13-17
FREEDOM FOOD LIMITED Company Registration No. 02723670 e8istered Chaiity in England & Wales No. 1059879 fte8isiered Charity in Scotland No. SC038199 OFFICERS AND PROFESSIONAI ADVISERS DIREOR5 AND TRUSTEES Mr D Main Mrs M Crawley Ms R Layton Mr R Oliviefl Mr D Smith (Chairman) Mr C Bra21er SECRETARV Chalfen Secretaries Limited REGISTERED OFFICE Wilberlorce Way Southwater Horsham Wesi Sussex RH13 9RS BANKERS National Wesrminsier 8ank plc 48 Carlax Horsham West Sussex RH12 IEJ INDEPENDENT AUDITORS BDO LLP 55 8aker Street London WIU 7EU
FREEDOM FOOD LIMITED DIRÉcfoRS' ANO TRUSTEES. REPORT The dire(iors and irustees of Freedom food Mited present their annual report and ihe audired financial sLaterrents for ihe year ended 31 December 2020. OBJE5 OF THE COMPANY Freedom Food Limite(J is a subsidiary chaTltable company of rhe Royal Socjety loi the Prevention ol Cruelly to Animals IR5PCAI. The primary object of the iompany is to preveni cruelty io animals by Ihe promotion ol humane13frnin& Iransportation, Iran51er and 51au8hier ol larm animals by implementiTrg a set of fearing and handling stan(Jar(Js approved Irorn time to time t>y the RSPCA. Fvrther. the company Seeks io prorwte consumer preference lor produce frorn livestock producer5 thai conform to the RSPCA Welfafe 5tand3rd5 lor farrr*d animals tFV Identifying as many product5 as possible with a unique rrademark and encoura8in8 retailers to market these products. There have been no major Ihan8e5 10 Ihe5e aciivilies during ihe year. ABOUTTHE ORGANISATION Freedom Foocj Limited Is a private company lifflited by shares Ireg15tered nutnber 027236701 and the RSPCA Is Ihe sole member. The company is also a charity re8i5tered by the Charity Commi5510n In England and Wales Iregisiered number 10598791 In Scotland ISC0381991. It is governeLI by a MefflorafiLlurn and Arricles of A550riaiiOn. the contents ol which have been approved by rhe DITtorS. ol the RSPCA. The coThp3ny was lif51 incorporated in 1992 beean trading in 1994 and 15 in rhe benefiiial ownership of rhe RSPCA. The coFnpany became a chaflty in Decetnber 1996 and has charitable tax status with HMRC. THE DIRECTORS AND TRUSTEES AND THEIR INTÉRÉSTS There are 8enerally eighi director5. &"nce Freedom Food LimiieLI 15 also a chaf¢iablec(Knpany, Ihe direitor5 are also trusiees of rhe charity. The Mernorandum requires that the trustee5 of Ihe parent or6ani5ation. the RSPCA. nominaEe four ol their number, as direttors of Freedom Foo(l Limited. The Chairman ané Vice Chairman of Council are 8iven first option on two Boèrd places. The remainine rhree directors have been appointed to the Board of Direitors of the cortipany because of their particvlai expeiience and are non executive Directors. there are currently vacancie5 for 5Ultable candidate5. The Trustees and Direcior5 ffleet a minimum of four limes è year are responsible for ihe finance. Èovernance and overall objectives of Freedom Food Limited. The Boarij of Trustees and Direnor5 appoin15 rhe Ihief executive, urrently Clive Braiier, who lead5 the senior manageffleni teaffl. The managemeni ieam 15 responsible lor the irnplementation ol strategy and day-loaY management ol ihe operation and linance5 01 ihe iompanv. Training is provided io every Trusiee an(1 Direcwr. Each prospe(tive member is provided with information aboul the company's £onstitution. policies and auivilies. The policy for remuneration of all staff, incldIng senior management Is decided by Ihe RSPCA. The policy is a bespoke job evaluation xheme ro assess each iole. New benchma¥kin8 infortnaiK)n was iniroduid ro underpin a new framework in the year. The Board of Direciors shall Iwm a remuneration iornmittee that decides the Salary of the Chief Executive The membership ol the Board of Fieedom F(M)d Limited who held offe during the year and to dare of si8nin8." Mr W. Hamilion IRe5igned 3 July 20201 Mr P Baxter IResigned I july 20211 Mr R Baylis IResi8ned l July 20211 Mr D Main (Resigned 18 May 20201 IAppoinied 17 June 20211 Mrs M Crawley Ms R Layton (Appoinred 3 July 20201 Mr R oliver1 Mr O Smith (Chairmanl
FREEDOM FOOD LIMITED RESUITS AND ACTIVITIES The results for 2020 show a surplus of £230.47012019, £2.0571. Income Irom chariiable acijvities being licente lees. membership fees. The products Ihat are labelled RSPCA Assure(l increase the choice that the oublitc3n exercise when purih35ing animal proijucts. All Freedom Food labelline has now been complerely replaced Wilh Ihe RSPCA Assured Label. A total of in excess of 58 million terrestrial an¢mals and 1.062 million lish tyenefi¢Èd Irom the scheme12019, $0 million terrestrial animals and 229 tnillion fish). The chafiry had a toial of 3,959 members12019. 36911. Total expenditure in 2020 was £3.5 tnillion 12019, É3.7 millionl. There were update¢ versions of RSPCA welfare standards lor beel. sheep and rroul PIOLluceO In 2020 SCOTLAND In 2020 there were 123 new members joining the s(heme in Scotland and 50 tha left during the year. takin8 ihe membership iotal to 554 by the end of 202012019, 4811. RESERVES The Charity now holds two types of reserve. free reserves an(1 designaied fn4$. Designèieo funds have oeen set aside by the Trustees for a specific corporate project. An analysis of designated Ivnos Is provided in note 12. The Charity's assets are available and adequate to fulfil the obli8ations of the charity. The charity maintains free reserves that represenis Sufficieni funds to cover rhe siandin8 cosis of ihe asse5smeni leani In (he eveni ol seTiuuS disease outbreak restricting access to proU(e[S for up io Iwelve months. which (Ould seriously affeci Income The director5 and tru5tee5 review the level of free reserve5 to ensure that they èfe Suff iiient 10 mainiain the siandine costs of the assessment team. and this will remain at É1.146.012o19 CI.146.0(K)I The curreni risks aroun¢ COVID-19 are an example of why we hold such free reserves and these will be used accordingly to ensure thai the Charity remains a going concern. Free reserves are calculaied as unresiricted funds less f¢xed assers an(J were £1.523.25912019. £1.392.7891. and desiEnated funds were £IOO,IKIO12019 £nill. PUBLIC BENEFIT In considering public benefil the directors and trustees have had regard to the guidance issued by the Charily Commission. It Is noi enou£h Ihat Freedom Food mIle(l,$ work benefits animals. Richard Martin, one of the RSPCA'5 ninereenth century founders. identified the Society's prime aim as beingio aiier the moral feelings of the country. He re(OBn15ed that taking care ol animals is an essential part of anycivilisation This still resonares today. Preveniin8 cruelly ro aniTna15 prorTleS humène sentiments in humankind towards animals which involves moral benefit to rhe human community a5 a whole. Whilsi this Publii benefil is clear, Il IS difficult to quantify and musi be balanceij against any derriment. The Results and Aciivilies section of this report demon5traie ihe a(hieMentS and perforrnante of Freedom Food Limired and rhe benefir provided 10 the public. All our Iharitable activities locus on protnotin8 kindne5S and preventing or suppressing cruelty to animals and are underiaken to further these chariiable purpose5 for the public benefit. RSPCA SUPPORT Freedotn Food Limited 15 not dependeni on ihe services ol volunieers In accomplishing ils work, although RSPCA branch Volunteers support the prOnlIon of rhe scheme at a local level Freedom Food Limiie(J 3nd RSKA staff also work closely In managing Ihe tnosi efle(ri¥e implementaiion of the RSPCA'S otyjeclives for farm anirnals. Freedorn Food Limited no longer relies on Ihe RSPCA io (Jonate rhe services of it's farm livestock officers provide(1 to the charity. 2020 £nil,12019 E380,0001.
FREEDOM FOOD LIMITED PRINCIPAL RISKS AND UNCERTAJNfiES The major risk lacing Freedom Food Limited is a possible ¢Jisease outbreak thai WOul(J aL1 to resiriciing access 10 farms thai would potentially compiomise our InspectTron regime ènd Impact on brand integrity. The Board of Freedom Food Limited reviews the opatIonS and potÈTrtial for any r15k Ihat faie tabilitY ol Freedom Food Limited to meet its obieciives These risks ale rÈ¥iewed annually. The principal uncertainty lurrently lacing ihe Charity IS Ihe impact of the ongoing Blo1 COVID-19 Outbreak The trvstee5 and executive team coniinve io monitor the outbreak. Including UK GoVe[nnnE advice. and acknowledge Ihai the Charity laces a prolonged period ot uncertainly. While ihe evolvin8 natuie of ttE Yluaiion means it Is not P0551ble to accuraieiy Quèniify the financial Inipaci. the Charity Is In a good financial wytion 10 help manage this risk. Steps are bein8 taken. on èn on8oing ba51s. ro rninjmise the Impèrt on the Iharity saciiyities ano the effetl this this mèy have on the Charitv's Supporters and beneliciaries. InfrastlLtiuiè Is In 3[e toallow staff io work iernoi@Iv nd our key priority 15 10 ensure. as lai as oossible. that %Ye iontinue to PlO¥ide Oul sei¥iie5 PLANS FOR TME FUTURE Durin8 the cotning year Freedom Food Limited will contInue to strivÈ to athiÈve the RSPCA'S obiecii¥es foT fèrm anirnals ihrough Increased promotional activilies to iaise the awareness of prooucers. feiailers. and ionsvtYErs and increase the numbeis of ènimals benefitin8froffl ihe scherrbe. However. Ihe effectsof COVIO-19 Inay &fleci much of this and. whilst our Intention Is to larry on With Ihis work a5 mh as we can. plans ate (Onlithually ievieweo ano changed as circumstances dictate. GOING CONCERN The trustees reviewed Freedom Food Limited's finala1 plans in [lecemr 2020, as part ol thèii rItl allnual review. as well a5 our principal financial risks At that tirne. they were sat15fied that Freedom F(XMI Lirnited had Sulticient resources 10 continue operèting for the foreseeable luture and aciounts have been orekkire(I 11) Ihe knov4le(IBe that Freedom Food Limited is è financially Viable Charity- The effect of COVID-19 has beèn iontinually B55essed by Chafily's execufive ieam a monihly basi5. reviewin¥ the CharilV'5 On8Oin8 forecasis and pioie(iions to ensure that the conipany remains financially viable. With re8ard to the nexi airounting period. It yeor erxling 31 December 2021. the irusiees are saiislieo that the level of incorne will continue ro grow a5 planned due to a strong reiail perf(Mmance sOneXpditure will iontinue to be reduced due to the effects ef the l¢xkdo¥vn restritlion5. We will coniinue to ensuTe that we opèrète ès norfflal. as trbuch as we thn. uiJlisin8tecMology io overcome the Ihe challenges of social distancing ffle6svres •here required With these measures. the most receni forecèsis show a smèll surplus for the year. withthJithÈ e(e$S11Y 10 Cul Into essential services. and Il necessaiy additional siÉnificani cost vIng5 ¢ouIO be tnade Wilhoul Itnpactin8 seT¥iie delivery Income for quarter 12021 has exceeded exrectations and indi£ationsare that the rest ol the year will follo¥ th15 Iren(J. The trusrees will continue 10 rewew plans with the Charity's executive team io make the [e$s3[V change5 to remain wilhin free reserves level over the life of ihe 2 yeai plan. as pei the flee resetbespolily The charity has a stron8 balarKe sheet, wilh uniestritted liquid lunds of aiound El.5 million. This has Incieaseo 10 £2 million at the Ènd ol April 2021 which repre5ent5 circa 6 month's expendituie. The rrusree5 are of the OnOn ihat the charity 4111 have sufficieni resource5 10 meei iisliabilities a5 they fall di. As Such. they remain satisfied thai Freedom Food Limited can continue operating for the fseQatAe future ano accovnis have been pfepared In the knowled8e that Freedom Food Ljmited Is 3 financially v+èble charity. FUNO IIAISING Section L62a of the Charities Act 2011 requiies charities 10 make a statemeni regbrdinÈ1ul[alSIg activities. AlthouEh. Freedom Food LirnIt do not undertake widespread fundraising from the 8ÈDeral public. Ine leEisiaiion definÈs fund rai8 a5"501iciting or oiherwise priKurin8 tnone¥ or other woperty tof JrItate purposes" Such tnounis receivable are presenied in our accounis a5"DonJiions" In relètion to the above Lhe TfU5tees confirm that no fundraiTr approach has been taken by Ihe company. or by anyone aiting on It5 behalf. that no fundraigng 5tandard5 Of 5cheffle for fundraisin8 regulaiion have been subscribed to b¥ ihe company. or by anyone acting on its iEhall. that lomaIntS In fdaTion to fundiaising actlvlties haye been ceceiYeLI and ihai any soliiilalions are mafiageil Iniernally. wi(houl InvDlvÈrneni ot cofflmercial parricipaiors OT professional fundraisers.
FREEDOM FOOD LIMITED AUDITORS A resolution io reappoint BDO LLP 85 audiiors will be ryOKK)sed at the forrhcofflillg AJ)nual Generèl Meeting. The repori has tseen Pfepared in accordance with spÈtthl wovisions of $419121 of Companies Act 2006 relèting to sm611 companies. All of rhe current direciors have iaken all the sieps 10 makÈ thefflsè1¥È5 aware ol any infoimètion needeiy by the Company s auditors for ihe purposes of iheir audit and to esiablish ihat ihe audiiof5a(e awaie ol the informèiion The directors are not awère ol any relevant audit informat#)n of which ihe audir015are unaware. Approved by the TrusteÈs and Board of Directors ol Freedoffl F0041 Lbfflited and sikfi on behalf of the Board Mr D. Smith Chairman 13th September 20ZI
FREEDOM FOOD LIMITED OIRECTORS. AND TRUStEES' STATEMENT OF REsPoNBILlTIE5 The trus¢ees are ress)onsible lor preparin8 the direitors. report and the linancial Staitynenis In accoroance with applicable law and regulaiions. Company law requires the trustees io prepare finarfial statements for each financial year in accordance wilh United Kingdorn Generally Accepted A(countin8 Prartice IUnite(l King(lotn Accounting Standards and applicable lawl. Under company law ihe rrustees must not approve the ffinancièl Statemen unle5S they are sètisfied that they give a true and fair view of the state ol allairs ol the charify an(J of the incoming resoiJrce5 ané appliiaiion ol resources, including the income and expenditure of the charity for Ihai period. In preparing these financial stètement5, the Irustees are require(J to.. seleci suitable accounrin8 policies an(1 then apply them consistently.. make judgemenis and accounting estimates that ale reasonable and prudent.. srare whether applicable UK A(COUniinK Standards have been followed. subje£i io any material oepartures disclosed and explained in rhe financial statements- prepare the financial siaiemenES on the going concern bays unless il is inapwopriaie io Pfe5ume thai ihe charity will continue in business. The trustee5 ère responsible for keeping a(Jeouate aCCOuiitin8 records ihèi are Sufficieni ¢0 show anLI explain Ihe charity's transaitions disclose with reasonable accuracy at any time the finar*ial DCTrYtion of the charity and enable them to ensure that the financial siatements comply wilh the Companies Aci 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 frof Ihe prevention ano detection of fraud and other iiregularitie5.
FREEDOM FOOD LIMITED INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES AND MEMBERS OF FREEtK)M FOOD LIMITED Opinion on Ibnancial statements In our opinion the finaniial siareFnenis-. give a true an(J fair view of ihe state of ihe chariiable cornpany's affairs as ai 31 December 2020 and of It5 income and expenditure, for the veal rhen entled.. have been properly prepareij in accordance with Unite(l King(loffl Generally krepted Aiiounrin8 Pracrice. and have been prepareil in accorijance wilh the Companies ACE 2¢Y)6, the Charitie5 and Trustee Itive51fflenr Ikoilandl Act 2005 and fegularion 6 and 8 of rhe Charities Accounts Ikoilandl Regulation5 21M)6. as aended In 2010. We have audited the financial statements ol Free(lom Food Limited I'the Charitable Company'l tor the year ended 31 December 2020 whi<h iomprise the Statement ol Financial Acrivities. the Ba13rsce Sheei, the Cash Flow Siaiement and notes to the financial staiements, iniluding a summary of significant accouniing txjlicies. The financial reporting frame work that has been applied in theif preparation is applicable law and Unired Kingdom Aicounting Standards, includine Financial Standèrd 102 The Financial Reporting Standard applicable in the UK and Repub14c of Ireland (United Kingétsm Generally AicepieLI Accounring Practicel. Dasis for opinion We conducted our audit In accordanie with Iniernaiional Sian(Jards on AudilinglUKI IISAS IUKII anLI apolicable law. Our responsibilities under those standards are further de51ribed in the Audiiof'5 reSpSIbIli11es for rhe au(Jit ol the finaniial siatement section of our repori. We are independeni of ihe Chariiable Company In aciordance wilh ihe ethical requiremeftts relevèni 10 our audii ol the financial statement5 In the UK, Iniludine Ihe FRC'S Eihi£al Stan(J3rd, and we have fulfilled our other ethical resPO51b111tieS in accordance wilh these requirernenis. We believe thai the audit evidence we have obiained is sullicient and appropriate to provirje a basis lor our opinion Concluslons related to golng concern In auditin£ the financial statements. we have foncluded thai the Trustees. use of Ihe going concern basis of è(COunting in the preparation of the financial statements is appropriate. Based on rhe work we have performed. we have noi ideniified any material un£tYiainiies reiaiiiig io evenis or condilions coneilions that. inijividually or collectively. may casi significani doubt on ihe Ch¥iiable Company s abilitv to iontinue s a going concern for a period of at leasi iwelve months from when the financial statements are authorised for issue. Our responsibilities anil the responsibilities of the Trustees with respect to 8oingconcern are described in the relevant sections of rhis reporl. Other information The Trustee5 are re5POn51ble for the other information. The other +nformarion fOtnpr15e5 Ihe Information included In the Report and Accounts, other rhan ihe financial staiernents and our auditor's rewn Ihereon. The other Inform31ion comprises.. Directors. and Trustee5' retM)rt. Our opinion on the financial si3iemenis Lloes not cover rhe oiher inlorrnation and, excepi to the extent Olherwise explicitly 5tateLS ID our report. we do noi express any form of a55ur3nie conclusion Ihereon. In connection wifh our audit of the financial 5tèternents, our responsibility 15 to read Ihe other informaiion and, in doing so, consider whether the other information 15 rnaterially inconsistent wilh ihe finaniial 51atewents or our knowledge otsrained In Ihe audit or otherwise appear5 to be marerially m15siaie¢ If we Identity suih iiiaierial inconsisiencies or apparent material misstaremen15, we are fequireo io Lleiertnine whether Ihere is a fflaieri31 misstaiernent in the financial st3ternent5. or 3 material missiaiement of oiher inlormaiion. Il, b3se(J on Ihe work we have performed. we conclude thai Ihere Is a material fnisstatement of this other Information. we are required ro report thai lait. We have nothing 10 report in ihis regard.
FREEDOM FOOD LIMITED OpInn Companies A¢¢ 21)06 reporting In our opinion. based on the work underEaken in ihe couise of ihe atjdif." the inlorrnaiion given in the Trusiees, Rep¢¥t, which includes the D¢re(iois' Repffl prepareo tor ihe Purpose5 of Company Law, for the financial year lor which the finala1 statements are prepared is consisient with the the financial siaiements.. and the Director5, Rewrt. which are Included in the Trustee5' ReKw)n ha5 been prepare(J In aciofdance wilh applicable legal requirements. In the lighi ol the knowle(J8e and undersianding of the Chaiiiable Company and Ils environment obt8ined in ihe course of Ihe audit. we have noi Ideniifie(J material missiatetnent ifi ihe Direitors. and Trusiee5' Repon. We hove nothin8 to report in respect ro the following rnaiters in relaiion 10 which Ihe COmpane5 Act 21X)6 and the Charities and Trustee Investment Isiotlandl Act 25 requires us to rert to you jl, in our opinion.. propÈr and adequate aicountin8 rordS have noi been kept by the Charitablecompany, or return5 adequare for our audit have noi been reteived from branche5 not visiteLI by u5." or the financial statements are not in agreement with ihe accovniing recofLls ano returfbs", or cenain disclosures of Direttors, MUneration specified by law ale not made.. or we have not received all the information and explanari(S we require for our audit.. or the trustees were not entitleij to prepare the financial siaiemenis in aciwdance Wbth Ihe small companies regime and take advaniage of rhe small companies, exemptions in preparing ihe Direitor5' repori frotp rhe reouirement to prepare a Sirare8ic rewjrt. Responsibilities of trustees As explained more fully in ihe Direttors, and Trustees, Statement of Responsibilitie5. rhe Trvstees (who are also ihe director5 of the chariiable company lor the purposes of company lawl are respon%ble for the preratIOn of the financial statement5 and for bein8 Salisfied thai ihey 81¥e a irue an(J fair view. and fror such Internal contfol as the Trustees (Jetelmines is necessary io enable Ihe pfÈparaiion ol linènciai staietnenis thai are tree from rnaierial misstatetneni, wheiher Oue to frau(J or ecror. In preparing rhe financial siaiements. the Trusiees are le$$1ble for assessing the Chafitable Company'5 ability to continue a5 a going concern, disc105ing, a5 applicable. maiters relaieij to goingconcern an(J usine the going concern basis of accounting Unle55 the Trustee5 either intend to liquidate the Chariiable Company or to cease operations, or have no realistic alternalve 1 to do so. Audltor's respon5ibilitie5 for the audit of financial 5taternents We hBve been appointed as au(Jiror under section 44llllcl of the Charilies an¢ Trustee Investment1Scoilandl Aci 2005 and under the Companies Act 2(M)6 and rek*)rt in acctydance with the Arts and relevani fegulaiions made or havin8 effect rhereunder. Our objectives are to obtain reasonable assurance aLKrt whether the linatla1 staiernenis as a whole are free from material missiaiement. whether due to fraud or errw, and to issue an auditor's rep)ll thai Include5 our opinion. Reasonable assurance is a high level of assurance, but is noi a 8uaraniee ihai an a11[ conducied In accofdanie wilh ISAS IUKI will alway5 deteci a marerial mis5taremeni when it exis15. Mssia1eenl5 can arise from Iraud or error and are consi(Jered material if. individually or in the aÈgfeÉate. they could reasonably expecie¢J io Influence the economic decisions of users taken on ihe bèsis of these financial siatements. Extent to which the audit was capable ol deteciing ifregularitie5. including fraLJd
FRfELK)MFty)OLIMITED Iire8ularities. 1hclu0@fwJo. are insun(e50f r- t(knlarte with IgEukitiQnS %4iedw 0e51n hne with ie5POll51bilities. ¢utlinedèLthe.tOdetE(t rnalerwIm5l3tes in le5 ol iireeukirrf.(ié1rfrdY. The exient iowhich Our piocedufES ar Capableol Oeteafft8iirwkirrtS. IfKiydinB fiauo is4eiaiW e4seOon Qyl undeiSTand4ogof Ihecbarilats Cornpany ttilltyuStty it operate5. rtrtJitd Ihai ihe prin(Ipal |Jw54nO ieBwlatrfJn5 thal Oi(rcIty alle(t thefinancol st41eriieiit5 10 DP Ihe Compane5 A(1 2LNb. CharLI5 2011. Chafitiesand Trustee in¥tMlIS[otlanO1tt 2(1 ano ieYalli wea55esseo Ihe eKlent ol tompiiance wilh Ihe5eiavd5 ano ie8viaibwsas part 01 OW WO(¢tyJ¢eS on the ieweo financ41 iiet In adoiiiQll Ihe CharitableCDmpany 155ubJECttD manvtyei law5and lhewn5equweS ofrKM)- cornplian Could have a rnaterial effets arnCvnt5 or diKkn5wesin ihe finoncoistatemeni.fw 1staethI0 lh¢ Imposition ol IinèS Or 11tatn we ioenTilied [heldn84edSds1thCIse niosi Iiktty to Tha¥etha effea Emtyoymeni Law, FunOrai5ing Regvlaiions Heallh & 541ety le81511 and Daia Proieu.AUdrtI£5laTh0a1O5 luniltherequirtd3udrt proceduTes TO ideniify non<ompl43rKewith these 4lwS iwLItDJnsioenquiryol irTruSteesandothet managemem and Inspection ol ie8ulaLOty and IWICOriÈsPOndCe Ilanv There are inheTeni IimiiaiiQllS In lheOi1 prole$vIOtrWo the1yrtler(peO noTr.rwnpknncÈ ie8vlaion5 IS Irorn Ihee¥en15an&iiaSatsn5refleoed inttre Ia151atWvent5. the le55 wEireto becrme Oul audil ploteou¢ weiedesi8ned to res0 io ffjk50f m6statement in ihelwrKial slait5.I¢toKn1 Ih41 the I15kol not detettinga maieiiai miSSTètemÈni dut io fiaud than ikne itskol oete(tin8onere5vltin8 from erior.a5 Iraud may lnVOtvedelilale concealmeDI by. fDigÈry. mfjiepreSenialwJn5oJ IhtQu8n co1.-$ Audit proceouiescapaD ol Irre8viaiitie5 IncluOin8lravd oertotfflety tyv thewy8ement teaffl inOuthO P&rfoTffling an3lytKal procedles itrttJertlifyunuSuèlOr uneipeued Ihai rnayxIKatei6k501maietKJI mi551atement due tolièud Alea5 01 iaenlified iK aiÈ The iested Sub%lènli¥eiy. DISCuSSIOn5 ¥yith managemeni, IncluOin8congderaiionof anv tprfoimance itKenlfve5and r[nUtbIl0ts èiianBements. known TrT 5Uspetted ithsiances ol noo.compionce with 4lwS aThY regul7tA$ano Iraud, A5se55in8thede5 ano lmpletnenlotn ol lo thnlify dTe•soI rnaleiO1 Neètfies5 tolocvsihe Readinetninytesol meetillE5oI ihe5e thar8ett WLth 8trÈrrtèrtce i1n1(re5Q0ere rewiaiorvW4p&and Iiom legal adYwf5 10 entI1¥ inoKation5ol non-compliance with la5and Reviewinefinancial Slaterheni di5C105uie54no ie51bTr6 lQWPWtingdwffl¢Thlation to a55e55 cornp&4nie th Enqu1[5 as to whelhei i#eie have oeen any sly5 in(thi repprt5 01 wrie5PWMtenteilh Ihecharrfv He8u&lOtS and reVWIth&d a55e551nE the olany or CleSnoen. Challen8bneaSSvtnption5 made by Ibeii YghiltsntaCCllre51lrnaieS in relolion lo In aO¢JiessinÉ Ihe rLSk of Iiauo Ihrou8h fflana8ent (weirKbÈbf t¢10&1s1irgIapPIoPrene5I of J<11 entFie54nd other3dlStMentS. an Cairyingout detJFd ie5ting. on a5hmp ol trantTlS•th tsa4irKe5ayeeing¢oagproproiedLKufflemarv idence io veiily Ihe compieiene55. esteIKeano a((ufacy olthE iemeo fantl$la1eenls A 1ullherdcw1PI1Ono Qul re5PDnwbiliiE5fry thèauort otthe firwic4lsiaterneThi $ Wxaied all RepoiTin8CrnCil's I"FRC's'l webgte at This des(IlPlion ItsTmS Pèiiol Our audiiof'5 report Use of Oui reptyt This report hSrna4e SOty10 thecha1414tyecomparty's n)&mows. as a OOOV. aOrdanCe rthChaNw Pari J6 Of theCtrpanIeiA(1 21.ar tothecharrtatye Compan¥S IruStÈè&asa rM)Jy. lna((O3rKei1h I(haritIeSA[1 2011 and Ihe Chhiilies Tru5tEe In¥estmeniiscOtndI 1(125. hasbeenunoeriaon SO tThal we 51aie io iheCompaffly'5 fflember5and IruStÈesihOSe4wtierstaiereovefj IQ state totbem aaudI'Sfert and foi no other pufoD5e Toihe lulle51exteni wmiiieo ty Ll. weoo or assume (espSl$l toanyanp ¢Eherthèn thÈChariiaoieComyny. thelharrtabCompaTrw'smembwsasa DthanOlhech4fitatyetornpanv'511v51ee5 a53 bDdy. lor our audit work. for iepoii.v for It0nn5 hèbtftrmed. DocuSby'. (JtL 730BBI8FE9AC4C9 1511 HaWord1SenioT St3tutwAudillxTI Forand ort behaNol 600 UP, ldOn Vnlted Kln8dom 15 September 2021 800 LLP isè imiied liability partnership ie8151eiedin arto was11h iec6iereJ nrnbel CKX5127
FREEDOM FOOD LIMITEO STATEMENT OF FINANCIAL AcfiviTIES Year ended 31 December 2020 Note 2020 2019 Income from: Oonations Charitable activifies Other trading activitie5 Investment5 380,000 3,336.150 3,756 2.057 2b 3,627.008 11,970 992 2d Total income 3.639.970 3,721,963 Expenditure on- Charitable èctivities 3,409,500 3.719.906 Net movement in funds 230,470 2.057 Reconctliation of funds.. Funds brought forward at l January 2020 1,392,791 1.390,734 Funds carrled forward ai 31 De¢embei 2020 1,623,261 1,392,791 All amounts relate to continuin8 operations. All gains and 1055e5 fecognised in the current and preceding financial year are included in the staiernenl of financial activities. This incorpolates ihe income and expenditure account. All 3mounts relate to unrestricted funds. The notes on pages 13 to 17 form part of these linancial siatemenis. io
COMPANY NO. 02723670 FREEDOM FOOD LIMITED BALANCE SHEET As at 31 December 2020 Note 2020 2019 FIXED ASSETS Tangible assets CURRENT A55ETS Debtors 1,000,629 761,808 Cash at bank and in hand 1.704.138 1,237,819 2.704.767 1,999,627 CREDITORS.. amounts falling due within one year 11,081,5061 1606,8361 NET CURRENT ASSETS 1.623,261 1,392.791 TOTAL ASSETS LE55 CURRENT LIABILITIES 1,623.261 1.392.791 CAPITAL AND RESERVE5 Called up share capital Unrestricted funds Desi8nated funds 1,523,259 100.cM)o 1,392,789 12 TOTAL FUNDS 1,623,261 1,392,791 These financial statements have been prepared in accordance with the provi&ons applscable io iompanies subject to the small companies. regime. Signed on behalf of the Board of Directots by Mr D Smith Chairman 13th September 2021 The notes on pa8e$ 13 ¢0 17 form part of these financial siaiements. li
CASH FLOW STATEMENT Year ended 31 December 2020 FREEOOM FOOD IIMITED Note 20ZO 2019 Cash flows Irom operating activit5.. Net cash provided by operating actNities 465.327 IS7,160 Cash flows from investing a(tivities= Dividends. interest and renrs 992 2,057 Net cash provided by investing actwities 992 2.057 Change in cash and (ash equivalents in the reporting period 466.319 159,217 Cash and Cash equivalents at the beginning of the reporting period 1.237.819 1,078,602 Cash and Cash equivalent$ at the end of the reporting period 1.704.138 1.237,819 Notes to the consoltdated cash flow statement Al Recon¢iliation ol Thet incorne to net <ash flow frorn operating activities Net Income for the reporti period Oepreciarion charges Dividends. interest and rents From investments Ilncreaselldecrease In debtors Increa5elldecreasel In cre(Jiror5 230,470 2,057 1,861 12,0571 12,281 143.018 19921 1238.8211 474.670 Net cash provided by operating artivities 465.327 157.160 Loans and overdrafts The Charity (Joes not have any exrernal debi or borrowing5 and as such a ner (Jeth reconciliation Is not prepare(J. The note5 on page5 13 to 17 lorrn part of these financial statements. 12
NOTES TO THE ACCOUNTS Year ended 31 Decembei 2020 FREEDOM FOOD LIMITED I ACCOUNTING POLICIE5 The pafticular accountlNd polcies ètk)pted are descriw below. The aicounts Ifinancial 516ternentsl have beeh prepared In accordance with the Stèiement of Recornmended Praciice.. accounting and reportln8 by charities weparing Iheii accounts In èttordance wilh the Financièi RerN)fiin8 Siandaid applicable In the UK and Republic ol Ireland IFRS 1021 and the Financial Reperting Standard applicable In thè United Kingdom an(1 Republic of Ireland IFRS I021. and the Charifie5 kt 2011 anij UK Generallv A(cepied Practice as il applies from Octob 2019. Actnting cofbvention Thè aciounting 51aiemenrs are prepared L¢nder the h15tori(al c05t convention. Going concern The executive team ¢eviewed FreedDm Fo(Kl Limiterfs plans in March 2021 and wwe connt thai these plans were alfoidèble 8fid ihat Ihe aicount5 should be wepare(l on è goin8 concein basis. The impaci of the COVltk19 ovibreak has had a positive financièl impatt, howe¥er.The exeiutive ieam have ioniinue(J reviewing financial plan5 fo¢ rhe next 12 month5 to ensure FreedDffl Food Limited ian continue it5 bu51nes5- Clitica1 activities and remain a going concern The length of the COVIO-19 outbreak ènd the measu5 yei ro be taken by Ihe Governmenr 10 coniairn this are noi known and are outside ofour control but WÈ Ve put eSSeS in place 10 manage cashflow Lin a monrhly basis and review Given rhe 51rengih of Ihe balance sheet and availablily and Iiquidil¥ ol Lsniestricieo ieser¥es. totallin8 aiotsnd É1.5tn, the Irustees believe thai. while uncertaifity exists. ths d0È5 not wse a tnatenal uncertainty ihat Vioul(J cast (Joubt on the charity s ability to Continue ès a goin8 ioncern. The irvsiee5. fherefore. con5Kler li akwropriaie for ihe &ccounis to be prepared on a going ioniern bas15. The poteniial ee£l on the balance sheet foi 2021 is exained lurther in Note 12. Thiscompany Is a wholly owned subsidiary of the RSPCA. The Trslee5 and DirecioT5 cOnder that the level ol ongoing support from charitable actiwties. £ombirted with the free re5erye5. 5ecufeFfeedorn Fwd Lifflited for ihe foreseeable future. and thai whilst there is VertaInty the Trustees an(J Director5 th consider there io be maierial uncertèinty. On this basis consider the com?Y is a 8oin8¢ontern. THn8ible fixed assets Fixed assets are capitÈlised at cost Provision is made for depre¢iation on a straiBhtlinE tsa515 over the u5elul etonotnii Ile of each a55et. Ass5 le55 than Él.(MX) are expensed In the year The usÈful econornic live5 h4ve been e5tifflated as follow5.' Office and computer eouipwii 3 years Income from charitable activities Is recoEnised when ihere Is entifiemeni. any pertoimènte tDn&iliOnS hève bEen rnet. receipt Is probable and rnea5uretnènt reliable. Membership Income Is fecognised Inlull. rhe Iifst Fnonth ol ernbership. Gifts In kind are Included at fair valve to the tharity. Expenditure Irluded In the expenditure relating to Charitawe OCii¥ifie5 are the direci cosr5 of the Assesscs and the sukwort costs ol thè AdrniD15tratien ènd Mèrketing Oepèrtments. Governance cost5 ionsi5t of the auditors remunerètion and the directws and truste5 expenses. Durillg Ihe year no c0515 were Incuire(J In ra151ng fund 13
NOIESTO TME ACCOUNT5 l¢Mlin Yearended 31 De¢ernber 2020 FOODUMITED L ACCOVPJTING POUClf5lconiMMj Opeiatln8Leass fteThtAI cost5 under operatin8 W5e5 aTe ifKkKleo ill tOialewHlIty iTrannuai lAsiaiMl$(e1 ol the a5es Fn&5 TneiÈ wr nD re51[ioeogI O[entfuno5 LbJffiwihewi Allfvn05ai the tsale¥ee¢ oaieaie r¢sli[te1. DeswalEd lyn05 arepan of IGenOI aswJÈior pJirthe theiiu5tees Cwilsof fjEw4teo fun05aTe3ei Qvl iffl note x? PenSHJn105ts Thepen5iOnC05t5 theempityee5 iecha(Itd to FfEedomFoc4Lffiiteo aieatlo rechaiee4 1oFiteoom L4mite In the yea¢ 014ncu(Iini ihe lthbility lseÈnote41 CiiiK¥14{coufftiiy jyd8emefjts ktysourt¢soItstiThlN>nIwert•Ifft4w lffl tr appiall00 Ot the tharitV'5 accr11nE pvIKw. Ilvs¢ee5 are requi¢eo io Makeiuotrrnenl5. pltithaies•vJ assufflpiions aboul Thecairybn4values01 a55wsand 14bihtSihèi DDI ieaO appaieni fiotn Sourt The 85ti(n3tesano ynoerlyin8 aS5ufflpinsa1e Dased on Oi1eX[W(e anooihei farnoI5 Itht ate oNMlete4S to De reiewant 4Clval ieSul15 rnèy Oillti tne5e estim3te5 IKomerÈ(ognitN)n- fhechafity ie(OEnW5 a re(errfabiebasiShÈiE Iheèmounl 15 ar¢ FassetS. rhe chai8e Irl ie5oe(i of periL¥l anKJrti5ation ell¥e03 e5tinièie ol ari assei s VAlCItO useful lite u5etul Iifeof an a55er lsoweiTlbne• ai Irlirt1TreaS5e 15 acobired Oi brouEht illlo use 3nd revJe•Jed annvaitylor agprwoieress Tf lryesaietsa on hoiotCalÈxpèin rua15, PfOv55ion5 and<ontin8eth- Exnoiluie In ihe Teportill£ per heretnete& un(erI3lIa5lV Ihe final to De pè.d IS étCOunteO fDI onthE kntsolane5tif114te wherethfj irea¢meni 1S{Tr75rtpreJ To De pprtrpr&te. An accru31 e[glsed hen it 15 wObabihaianLlY¢Ion exisis I which a teiiaNe estthèTe tèn be made Matter5that are wthei P055FtyeQblytn$0I do fr iheciiieiiè foi è pIO¥iS¥ aSOiSClOlÈOaS tontin8enl |MIDili15 11 the of tian5ferilre(or tenefil 6£OrtSe0 itstse Itrnote. retvEDte IS fflade OrdarY lT4ftle The IOrnP3ny IS a ChaliTV within ihemeaningof Pala i khe0U6FIrèAll 2010 AtttYOill1 tre Co[ poteniiaiiy ekernDE fium In It5PEll ol ill(DPDEOI cBPrt3lES %it#in lateie5c¢4eeQ DiCh)pieT 3or Part 11 ol the Co[tion TaAAO 3010 01 256of ihe Tau1)ft ol cnèieeabbefoins Aci 1992. 10 Ihe exien¢ Ihat Such 4ncorneo( yihsèie èppid itschaiilatyEpuipose5 fyo taA{haT[aie thp FancIalIn5urnenls The Iinènciai insiiunieills ale linènc41 è5SeTswhh comwthecashafvj eOr$• fIrtr1 CDmpiiSegiouPtieOI10I5. tiadÈti¢OrtLYS oiheilrtditois. nid1511IÈd tosi. INCOME èl Oonation5 20t9 Oonèted RSPCA Iive5totkolfice15' Set¥5 Freedom Food Limiteo is no Ionw iei4nl Ihe0OrteO SWiceJoI115KALheSIOCk ofletS Our4og 2020ihE RSPCA Li¥e5l(KA offKEIS umbEred6179. 6 bl lfflrome IromtharitaWeactft5 J19 MembeT5hip scheme LitencE lee5 IJJM529 R.592.479 27 7.9S3 2.378.197 3 336 ISO cl olhertradl actiwts 2019 Sale o 8ooOsand othei income dl lThvestmeThts 2019 Intere51 receiveo 14
NOTES TO THE ACCOUNTS ItontiTruedl YeaT ended 31 December 2020 FREEI)OM FOOO LIMITED EXPENOITURE 2020 Oirect 2020 Support 2020 Total Charitable activities Farm animHI welfare Governance cosrs 1.102.41S 2.293.274 13.811 2 307 085 3.395,689 13.811 1 102 415 2019 2019 Support 2019 Totèl Dire(t Farm ariirnal welfare Governance cosis l. 184.870 2.526.559 8,477 2 $35 036 3.711.429 8,477 3 719 906 IrKludeO in expen(Jiivre afe fees payable in respect of.. 2020 2019 AuLliror's remuneration Hire of motor vehicles unLler operating leases 13.811 94.683 8,477 81,667 Certain administrative cost5 Including operating c0515. Certain cenrrally charEed 0head and adrnin15traiive co515 have been rne by the RSPCA bur have noi t)een hrge. Travel and sub515ience payment5 to the Oireciors 3nd irusiee5 toialled Enil 12019. Enill- 4 INFORMATION REGARDING EMPLOYEES AND DIRECTORS Freedom Fooj LirniieLI's siaff are em0Ve by the RSPCA and the fvll employrnent (osis ol ihe5e staff members are recharged to Freedom Food tsmited by the RSPCA. 2020 No. 2019 No. Average nufflbev of per50n5 employed A55essrnent5. rnarketing and publicity Support. management an(J adrninistratio 25 19 23 20 43 44 2019 2019 5taFF cosis durin8 the year Wè8e5 5alarbe5 Soiial security Costs Pension cos15 1.4CKb.693 127,248 150.559 1678 500 1.303.827 119.778 139,421 J 563 026 In 2020 one employee earned beiween £80.(MX> and E89.99912019. one employee LtbYeen É80.IXK) ond £89.9991 Contribution to the pension scheme for ihis highest paid rnefflber wa5 £9.6tKJ12019. E9.6(KJI. Freedom Food considers If5 key mana8emÈnt personr1 comprise the diiectOYS. Ihetrustees and the chief executiv officer The iotal eM0¥men1 benefit5 includin8 employer pension coniribulions tofflanagement personnel wefe £104,334 12019. £104.3701. The directOf5 and trustee5 all give thr time and expertise without any form of reffluneration or other
NOTES TO TIIE ACCOLINTS Iconiinyedl Year ended 31 December 2020 FREEDOM FOOD LIMITED 5 TANGIBLE FIXED ASSETS Office and computer equipment Total Cost Al l January 2020 At 31 December 2020 118.254 118.254 118,254 118,254 Depieciatbon Af l Jènuary 2020 Charge for the year Al 31 December 2020 118.254 118,254 118.254 118.254 Net Book Value At 31 Decemt>er 2020 At 31 Oecemtser 2019 6 0E8TORS 2020 2019 Trède debtors Other debtors Prepayments 8nd 8tcrued ItFtome Afflounts owed by the RSPCA 225.336 77,780 4,000 680,028 739,681 31.612 1000 629 761808 7 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 2019 Trade creditors Value added tax Accrua15 and deferre(J income Arnounts oweo 10 the RSPCA 225.676 124.026 731.804 167.484 84.360 353.236 1,756 606,836 1.081,506 DEFERRED INCOME The deferred income comprises membersh¢p scheme income receipts received prior ro the year end and are release& 10 the siaiement ol financial activities in the followin8 year. 2020 2019 Deferred meffltser5hip 5(herne Incorne At i January 2020 Additions Released Al 31 December 2020 46,173 96,421 146,1731 50,344 46.173 150,3441 16
NOTES TO THE ACCOUNTS Iconiirtuedl Year ended 31 December 2020 FREEDOM FOOD LIMITED 8 OPERATING LEASE COMMITMENTS The Company ha(t total cornrnitrnents at the year under operaiiog leases Èxpirin8 as follows-. Motor Motor vehicles 2019 vehicle5 2020 Less than one year One to five years 49.016 45.666 63,272 82,265 94.682 145,537 9 CALLEO UP SHARE CAPITAL 2020 2019 Authorised 100 Ordinary Shares of £1 each 100 loo Called up. allotted and lully paid 2 Ordinary Shares of £1 each 10 ULTIMATE PARENT ENTITY AND CONTrOILING ENTITY The corTrpany's ultimaie parent enliiy and conirolling entiry 15 Ihe Royal for rhe Preveniion ol Cruelty to Animals I'RSPCA'I. a regisiered charity In Great 8ri¢ain Iregisreied chariry no 2190991- The primary objectives ol Ihe RSPCA is the prevention of cruelfy to animèls. at the core of which is ¢ne Inspectorate provide a wide range of rescue service5 for the rn05t 3bv5ed an(J vulnerable anirna15. These fescue services Include the Inspectorate's preventative èn(J educational work. enlorring ihe law, rehatyilitation. rehoming ano Wildlife rescue. The range of Inspecroraie work and ils ielaied SUprt services are the core attivity ond are unique to the RSPCA. Copies of con501iLlared £0(5 are avoilable frorn The RSPCA. Wilberforce Way, Souihwarer, Hor5ham, We5r Sussex, RH13 9RS. There are no intermediaie parent companies. 11 RELATED PARTY TIiANSACTIONS Related party iransactlOn5 are management fees charged in thè year by RSPCA of £230.954120L9. £223.2651 and payroll and expenses of El.665.07412019 £1.585.4791 paio on behalf ol Ffeedoffl Food by Ihe RSPCA The (Jonared RSPCA veStO¢k officers. seThices were £nil 12019, £380,0(M)l ano the cosis of Ihe RSPCA Livesiock officers, Services were E309,(KXI, in 2019 ihe costs of £380.CW for veSto[k officers, was (Jonèted by the RSPCA. 12 Designated Fund movements 2020 2019 State8ic review con5uliancy fun Af i January 2020 AddItOn$ Relea5e(J Al 31 Oecember 2020 100.000 100.000 17
Certificate Of Completion
Envelope Id: ED27DCF55FEE477C959B8D24C7476D0A Subject: Financial Statements for DocuSigning : Freedom Food Limited Document Type: Statutory Audit Report under ISA 700 UK Companies House Number: 02723670 Source Envelope: Document Pages: 19 Signatures: 1 Certificate Pages: 1 Initials: 0 AutoNav: Enabled EnvelopeId Stamping: Disabled Time Zone: (UTC) Dublin, Edinburgh, Lisbon, London
Status: Completed
Envelope Originator: Beth Winter BDO LLP 55 Baker Street Westminster, London W1U 7EU Beth.Winter@bdo.co.uk IP Address: 163.116.162.120
Record Tracking
Status: Original Holder: Beth Winter 14 September 2021 | 14:34 Beth.Winter@bdo.co.uk Signer Events Signature Jill Halford Jill.Halford@bdo.co.uk Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 163.116.162.123
Location: DocuSign
Timestamp
Sent: 14 September 2021 | 14:36 Resent: 15 September 2021 | 10:44 Viewed: 15 September 2021 | 10:27 Signed: 15 September 2021 | 10:45
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
| In Person Signer Events | Signature | Timestamp |
|---|---|---|
| Editor Delivery Events | Status | Timestamp |
| Agent Delivery Events | Status | Timestamp |
| Intermediary Delivery Events | Status | Timestamp |
| Certified Delivery Events | Status | Timestamp |
| Carbon Copy Events | Status | Timestamp |
| Witness Events | Signature | Timestamp |
| Notary Events | Signature | Timestamp |
| Envelope Summary Events | Status | Timestamps |
| Envelope Sent | Hashed/Encrypted | 14 September 2021 |
| Certified Delivered | Security Checked | 15 September 2021 |
| Signing Complete | Security Checked | 15 September 2021 |
| Completed | Security Checked | 15 September 2021 |
| Payment Events | Status | Timestamps |