Company ReEiStratlon No. 02723670 Reglstered Charlty In England & Wales No. IOS9879 Reglstered tharlty In Stotl4nd No. SC038199 KSPCA A55ured Liwited (k¥merly Freedom Food ilmltedl Trustee5' RepLYt Accounts 31 De¢¢mb¢i 2023
RSPCA ASSURED UMITED IF0ERLy FREEDOM FOOD LIMITED) REPORT AND ACCOUNTS 2023 CONTENTS PaEé OFficer5 and Pcofe55i(Trnal Advisors Chlef ENeculive and Trustees, Repgrt Tru5tees' Slatemenl of Responsibilities Imlependent Auditor's ReF 10-14 StaleThent of Finala1 Attrrfities 15 Balance Shèèt 16 Cash fkhv Statement 17 Noles ta the Accounts 18-27
RSPCA ASSURFP IIMITED IFORMERLY FREEDOM FOOD Ufv1tTED Company Re£istration No. 027Z3670 Rewtered Charity in England & Wales No. 1059879 Re2isiered Chty in Stolland No. SC018199 OFFICERS AND PROFESSIAL ADVISERS TRUSTEES Mr D 5rnlth Ichaimianl Mrs Crawley Ireslgned 20 Oct¢bèr 2023) Mr R Olivieri MrD Maln Mr G Chohan (elected to the Board 20 October 2023) Mr D Thiem lelerted to the Board 20 Oclober 2D231 Ms A Wycherley (elected to the Board 20 October 2023) CHIEF EXECUTIVE Mr M Baker Iresigned 11 July 20231 Mrc Sherwood linlerim from 11 ju 2023 10 7 February 2024 T Baker {apptsihted 7 F¢bru4ry 20241 SECRETARY Chalfen Secretar5 Limited REGISTERED OFFICE 4th Hoor Parkside artway Hor5ham We51 Su55ex RH12 IGY BANKERS National We5tmin5ter Bank pk 48 Carfax Florsha West Sussex RH12 IEJ INDEPENDENT AUDrroRS RSM UK Audlt LLP 25 Farringdon Strèet London EC4A 4AB
RSPCA ASSURED UMITED IFORMERLY FREEt)OM FOOD LIM ITEDI CHIEF EXECIStIVE AND TRvsfEES' REpoKr The Chlef Executive and Trustee5 pf RSPCA Assured limltpd If¢rmerW Freed4)m Food Llmfted) pregÈnt thelr annual report and the audited financial 5tatenients for the yeai etxled 31 December 2023. oAEcrs OF THE COMPA RSPCA A55uied Limtted 15 a svbsidiary dwitable conwany of the Royal Society for the Prevehtion af Cruelty io Anirnak (RSPCA). The primary oblett of RSPCA Assured Is to prevent cruelty to anlmals by the pf¢rh¢tl¢fj of hum4ne fanY41n& rra nsptytaiion, morketlng and slaughtèr of farnied animals, in prtal bul without PTejvdice to the 8en¢ralÉty of the for¢g¢iW by Rhplementlng a set of rearing and handlin£ standards developed by the Rspc For the benefrt of Ihe public to olherwise prevent, suppress or alViate£r1lY to animals, whether within ihe UK or elsewherE and to educgte the public ih matters pertèini18 10 aninal welfare In gemÉYal and the preventkln of cruelty and sufferlng arnon8 animal There ha4ve been no major changes to these actNi1 during the year. ABoufTHE ORGANISATION Freedom Food Umited was incoiporated as a priwate Company limited try shares (registered company nLMnber Q2723670} ir$ 1992. and began in 1994. On the 17th May 2023 the Company narne chaed to RSPCA Assured LFmited I'RSPC4 As9Jred'l in order to benefit from the consumer trusl In the RSPCA brand a5 odvocatingfor hlgheranlmal welfare. The RSPCA ts th¢ s¢k mÈn7lJÈr and be1claI Ow[ of RSPCA A55ured. ASPCA A55uied Lid is Boverned by a Met[randm and Artkles of Association, the contenls of which have been approved by Ihe Tru5tee5 of the RSPCA The ¢CYnPafty 15 also a ¢hartty regtstered the ChartyC¢rnmlsslon in England and Wales {rlsIered number 1059879> since December 1996, and the Office cl ihe Scottish Charity Regulaior In Scoiland {reStered number SC038199) since May 2C7. ftSPC4 Assured has Charitable tax status with HMRC. THE CHIEF EXECUTIVE AND TRUSTEES AND THEIR INTERESTS The RSPCA Assured Board of Trustees has the legal responsibility fof the effective use of the charibKs resources In accordaKe wlih ihe overal objects of The organisailon, aThd for providing effective leadershlp and dirertion. Thè Artlcles of Assoelaticpn of RSPCA Assufed Limited requires a minThum of three trustees of the Board wilh no maximum. The RSPCA may appoirt one tntstee, who shall 3Ct as Chair forsuih term of up to three years as the RSPCA sees ftL If the RSPCA dDes not exercise its power to awinl a trustee, r( nw appoint an existiFbg trustee is Chalf. The trustees have been awointed to the Board of TnleeS because of their rtiCUlar experience aTrd are non*xecutlve dlrectors. There are currentty six tnistees ¥vith adthtional vacancies for suitable
RSPG4 ASSURED LIMITED {FORMERLY FREEtMJM FOOD LIMITED candidates. During 2024 the Trustees wll be looking to hl four vacancies, skills that would be considered as advantageous arÈ- technology, dgital, dali ahd ¢r leiai. Thp Board of Trustees ffteet a minimum of four times a year. Trabning is provided to elpry trustee. tri the reCrUitnnI and apwlntmenr rrfo¢ess. éach pr05pedlve Trustee 15 pfpvKled with informatign about the Chitable compaTr(s constitutiorb, pohcies, and actT¥ilies. Within 2022, RSPCA Assural completed a rewew of their gotrernance and ihe recommendatlons were acpted by the Board of Trustees In November 2022. WlthiTh 2023, as part of the ongolnE Implemeniallon of these recommendatlons, the RSPCA Aured Board of Trustees appointed Finance Audit Risl Committee (FARCOMI to support the Board of Trustee5 to deliver the charity's strategic charitabie aims, effectively and sU5tainably. OversiBht ofthe TDJst¢es' Amual Repgrt and Ac(QLmts, budgeting and finanaal perforrnance, financial Strate and reportingi extemal iudit and rksk mAneMent lie5 Wlth the FARCOM. The Board of Trustees appoinis the Chf Executr/ ExecUte Dirertor who lead5 the Leadership Tèam. Mlke 8aker iéslgned 15 Chief E¥e¢utive ¢n Ilth July 2023, WFth Chri5 Sherwood Ichicf Emccutivc of the RSPCA) aGtin£ as Chief extye of ASPCA A55ured on an inlerim basis for the remainder of 2023 and into car 2024. Toby 83ker has taken on the fesFM)nsrt)Ilitles as Ihè Executive Dlfectoi on a permanent basis from 7th Feèruary 2024. The Leadershlp Team Is responslble for the implemertation ol the stratey and day to dav anagement of the operation and firkinces of RSPCA Assure(L In July 2023, there was a reorgarisation of the Leadership Team. with the Leadership Team being subdivided knta an Executive Leadership Team responsib for the iMementall0 of the strategy, and ihe Senlor Leade¢shlp Team re4)onslble for ihe day to day managenmI opeiation and finances of ihe charlty. For the first Seven month5 of the year, the Leadership Team consisted of the ch Executiv?. Head of Certification, Interwn Head of Marketin& Head of CorFM)rate Partnershlps and Prreramme Lead of the TransformatSon Pro]ect. From 2023, the Executive Leadership ream includes the Chief Executive of RSPCA Ixting as Interim Executive Directorl, Interim Chief Operalions Officer and Interim Chlef MarketlnE Officer. The Senior Leadership Team intludes Vead of Certill¢aliQn, Yead of Corwrate Partne15hlp5, ma of Stiaiegk Dellvery, Head of Marketing and C(¥nmvnKation5 and Head of Farming Engasement. The pohcy for remneratlon of all staff, InclLlli thè Le*Èrshlp Team Is de¢lded by joint natlonal greement with Unltè wl)th ¢overs boih RSPCA and RSPCA A55uTed Lirniled. The policy is a bo5poke job evalu4tion 5cherne to a55e55 each role. The Remuneralion Committee of RSPCA decides ihe salary of ihe new Executfft Directof of RSPCA AssLbred. RESULTS ANO AcnvrriES The results for 2023 show a def11 of£O.Im12022'. surplus of £l.i)ml,
RSPCA LIMITED IFORMEFIIY FREEDOM FOOD LIMITED) Income from charitable actlvllles Is made up of cenCe fees £4.Im12022 £3.8m) and membership fees £l.&r12022 £1.4ml. Total expenditure In 2023 was £6n)12022 £4.3m). The ccxnpany has a strong balance shee( cash balae as at 31 December 2023 bel £2,6rn 202L' £2.6m) and a large balance In net curient assets of £3.Qm (2022: £3.3m). HiÈhlight5 from 2023 in(1Je the successful adoptTr of technology with a G8[e mlgr4tb>n and A55e55or App trials. We fornied a brand new Fm En8agemeni team who are standard5 terhnical experts, workn.ry vAth our colleague5 in the RSPCA Farni AnlmJl Department, our exists and prospective memb¢15 lo soe PToNem5 and 0rcorne barriers 10 Standards implementation. We buill awareness of RSPCI Agsured with our'fe5tive feast, series of seasonal adverttsine carnpaigns. which consrstently perlorrryed well and throush our retall arrtl foodservice partners, with Marks & Speneer hiBhli£htirkg dairy welFare and R5PC14 Assured In iheir Farm to Food Hall advefrising campalg Involvi Tom Kerrge ITV adl and EMll as well as with outdoor billboard spots. Finally, we developed Our ref¢d Stratcgy to 2030 wthich was signed off by the Board in Decembei 2023. RE5ERVE5 The Charlty held only unrestricted funds at the end of 2023, The opeDing restTicted funds balan of £Q.05m relatEd 501ely to the Eat Less E2t Better fund ihKh w45 5pcnl in tolalily in 2023. Art analysis of rEstrirted funds is prov¥Jed in note 15. The charity makntains free reserves that represent suffrdeni fund5 io rover Bny unforeseen Irtum5t¥n¢¢5 that cannot reasonably be foretold. The hlghest risk in this fe8ard for RSPCA Assurèd Is deemed to be an outbreak of animal related dtsease restricting acces5 to producèrs. lfi lighi of th s RSPCA Assured seek5 to retain free reserdes at least equivalent to Ihe annua I standing costs of the aSSe55ment team. These are considered to equate to £l.Im. in line with prior year, and frEe re5ce& of £3. Im (202Z' £3.4m) Ss substandalty in excess of this. RSPCA Assured has 4 budgeted defKit in 2024 in order to ensure reserves remain at an acceptable level,. balanrinE bolh bng term sustainablllty lo ensure that the charty (an support fijiure beneficiaries, and a high level of Impaa on inimal fare fOrfarnd animals in the short lerfi PUBLIC BENEFrr In consAlering wblit benefrt thè Board of Tru5tee5 Iwe had regard to the guidance trssued by the Charity Commisslort. 11 15 nol enough that RSPCA K5sured Limlled's work benofrls anima15. R2rd Martkn, one of the RSPCA'S nineteenth century foundÈrs, klentrfied the S(Kiety'5 prime aim as being to alterihe moralfeelings ofthe country. He recognlsed thattaking caweof animals 15 an essenllal part of any civilisat)n. This siill resonatr5 lotjay. Preventing cruelty lo an*nals promoles humane sentwnents in hum3nl(Ind towards animals which Ir1VeS moral bènellt t¢ the hjfftan community as
PSPCAASSVRED UMITED (FORMEKLY FREEODM FOOD LIMtTED) a whole. Wh11 ihis publ1¢ benefrt15 clear. it is difftcult to guantify and rNst be balanced against anv detriment. The Results Actviities secth)n Df thLs rept enstrate5 the achvements and performance of RSPCAAssured Limited and the benefil wovided to the public. All of the Charitab aaivities of RSPCA Assured focu5 promoting kindne55 and preventing or suppressing cruelty to farmed anlmak a nd are undertaken to further these charitstAe purpose5 for the publk benefft, RSPCA SUPPORT RSPCA J¥ssured Lwnited is noi dependenl on the servlces of llUnteerS in accomplishing its work, ahhough RSPCA branth volunteers support the promotK)n of the SCme at a local level. RSPCI 15 prtsvlder of a Nmber of busIne 5ervice5 lor RSPCA A$5ured Lirniled, including human resoLvce5, p4yrol, IT, finarte, facilities and fleeL RSPCA Assured Limiled and RSPCA staff also work closely in manag8 the most effective implementstr>rb of thelr sharÈd goal for far[rd anlmal5, PRINCIPAL RI5 AND VPICEftTAINTIES The Board of Trustees of RSPCA Assured Limited revie the opÈratlons wr¢ntial fDr any Ti5k that may impact the abiliry of RSPC4 Assured Limited to mert its objertive5. Thesc risk5 revivwed annualy. The rnapr risk facrng RSPCA Assured is a possib disease outbreak whlch Would lead to reSted farm (eSS. This could corrwromise the inspection re8ln and h3ve a Tregative Mnpact on brand integrKy, The risk of reputational damage from Assured fflember5 lailing to abide by standards is closety rnonltored and addresseii in wnprovefflent programme. 2023 remained a year of ecoThJmic uncertainty, ¥vith contknulng Inflatlonary pressure arFd the c05t of livi& crisis. Although Inflatlon began lo plateau towards the end of 2023, the economic outlook at the end of the year iemained far from optimistiG with spe(ulation of a recession in 2024. These macrtre¢onpmK pre55ure5 present fi5k5 to RSPCA Assured. such as the rk of consumers moving away from hi£her wewaie anwnal products and prOdUrS sIrUling to afford io meet higher welfare standards. There hB5 beerb no edtn in the licensing income due lo these issues yet, wiith the currenl knpact being mainlyfelt byorganief2n8es rètherthan higherwelf2rÈ. The TNstses and the leader5hipTeam arE closèly mcnrioring this. While the evolving nature of the situation means rt Is not pJsslblÈ io ¥¢¢ur3tely quantlfy thp financial imp, the charitable cornpany is in a good financial pasition havlng rTrHintpined a high levEI of reseNes and cash. Sieps are being taken on an ongolng basi5tQ millimi5ethe imparton Ihe charitable company's attivities and the wider impact on animal well. PLANS FQR THE F{uRE
RSPCA ASSURED LFMITED (FORMERLYFREEDOM FQQD Ufv11TED Duri the c(Hnib* Year RSPCA Assured Limited will launch and begln lo implenient its new strate, which 11[ Set oul its seven arnbltion5, including for m¢r¢ than half of all the Ufs farmed animals to be ratsed io RSPCA welfarè giandards and for people to eat less meat fish, èg8s and dairy from low welfare farms and Èat better by corwiously th00s RSPCA Assured food be(ause they trust thal the anima15 havè had 3 good life. We wlll con14we lo ensure hlgher farmed animal welfare IhrouBh a robust aSSUrae scheme and a tfU5ted supply chaln, ill4Jroving our internal gDvernance, operailonal ¢ffertiveDes5, and bullding trusled relaticffishlps With the food and f4rm irKfustry. We will aL%o dewekw and launch a r¢freshed brand to engage with consumers ta begin to gii)w the underAandin& awareness ahd dand for Rsp A$5Ufed products. GOING CON£Biri The 8oard of Twstees revEwed Ihe fiFTrancial pl•Trs of RSPCA Assured In December 2023, and ihè priiicryjal financial risks of the organi5ation, as part Df the annual revlew process. At that time. Ihe Trustees were satisfied that RSFCA Assured Lifflited had sUltIent rp50urce5 to conttnue Operating for the foresèè4blE fvture and the accounis ha¥e been prepared in the kn(Mledge that RSPCA Assvred Limitod is ¥ linancially viab organlsalioFk The TnCIal statÈrnent5 l11Clte a strong balance sheet, wrth a hl8h level of resepoe5 and cash at the end of 2023. As at 31 Deccmber 2023, Ire were unrestricted fuN15 of £3,Im, representlng cKca six months tatal eJ(PEnditure. There was a cash balance thls date of £2.6m, which Is foreEasL to remain heahhythroughout 2024 and knto 2025. With regards to ih¢ yeHr end8 Il December 2024, the 802ft1 of Tru5tee5 Bre satiSfd that the level of prnjecled Income will be mèt èven In the context irf the Challengi economit environment with C4Jntinued Infl3t¥)nary prUreS ahd a risk of recession. It Is eKWCted that expÈrtdituf¢ will rernain wlthin budget. Budgeted ex4Jenditure includes expenditure desvaned to delrver the ongoSng transformation to ensure the charilable e(Mnpany can achlerfe the new Stralegy which will In¢reasp income, generate cast saviTr8s in the long run, and continue to strengthen the financlal stsstainabilily of RSPCA Assured Limited. As a resuFL it is not expected that there will be the ne(essity to cut into èSSèDtlal service5, The Leadershlp Team wll contiThJe to re¥lewthe 018 foreasts and proie(tions on a regular b951S to ensure thot RSPCA ASsred remains financially viabk amidst the chalenging economic envlr¢nrnent, With the above mcasure5 in ple, and the stron8 curreni financial postn of RSPCA Assured, the Board of Truslee5 are of the oFinlon that RSPCA AssureLI Lithiled will have sufficient Te50urces to meet lis liabilities a5 they fall due, The Board of Trustees do not consider Ihere t¢ be a material uncertaintv around the abilityof RSPCA As5UTed Lwnited to contTh4eas a goirg toncern the foreseeable fvture. FUNDRAISING
RSPCA ASSURED IIMITED IFQRM ERLY FREEtJOM FCK)D LPMITEO) 5ettitin 162a of the Charities 2011 requires tharities to make a staternnt re8arding fLrrtdraiSlTrg adivlties. Allhough RSPCA A55vred Lrmlted does not undert•ke widespread fundralsing from the 8eTreral publlq the lèglslallon define5 fundraising as 'solicitlng Or ptherwise procurlnÈ money or olher pwoperty for charitable purposes" a)unt$ receprable are presented in the acctsunts as 'Donalion5" No fundraislng 4approach has Ien taken ty the company, by any{e attln£ vn It5 Ihalf,, No fundraisin8 Standards or Scheme forfundraiSinE regulation have been subscribed to byihe comp4ny, or by anyone 118 on its beha,. No complaints In relatx)A to fundralsing ac11vitS have been recerved and thal anv solicitatlans are maTraged ternally. without involvemont of commer¢lal participators or professianal fundr815ers, AUDITORS RSM UK Aud5t LLP remained as exlernal auditDf5 of the RSPCA and lis subsldlary entTLies. including RSPIJ A55ured, for the finantpal year ended 3 1st Decernber 2023. The aud*of, RSM UK Audlt LLP, is deemed to be reappoted under section 48712) of the CompaniÈs kt 2(N)6. The report has been prepared In atcordance with spetial wovisK)n5 of s419{2) of ihe Companies Act 2006 relatlts8 t0 Small companles. In arrordance with company hw, as the T¢¢5 of RSPCA Assured Limited, we certify thai., 50 far h5 we are awwe, Ih¢re ts no relevant dit inforMatn of which the Charitable Cornpanvs audiior is unaware. • We have takery all the 5tep5 Ihat we Oughtto have taken In order to make oursekn5 aware of anyrelevantauditinformationard toest&li5hthaithecharitableCompan(s auditori5 aware of the Informatlon. The report has been prepared in accordarKe with Ihe pro¥trslaThs applcable to comp4nies enthled to the Small companles, exemption. Approved fy the Pmmrd of Trusiee5 of RSPCA Asswed Limited and signed Qn behalf of the Board. D, Smith thalrman I l April 2024
RSPCA ASSURED UMITED IFORMERLY FIIEEDOM FOOD LIMITED} TRUSTEE5' sfATEMENT OF RESPONSIBILITIES The Trustees Iwho are 3lso the Directors for the purpose of company lawl are ie5pon5ible for preparing the Chief Executive arKJ Trustee< Rep(xt and the financial ststements in (oldwiCe wlth applKable law and re£ulatbn5, Compary law requires the trustees to prepare financial statements for each finanrial Year in accordance wtth United ngdoM Generally Accepted Accounting Practice Iuniled Kingdom Accountin£ Stwndaids and applicable law). Under Company law rh¢ trust¢es must approve the financiHI rtaleKnl5 unless are sati5fi¢d that they Élv¢ a true and faFf Vievl of the slate of affairs of the Cha ritable Company and of the I>1 resources arbd application of resources, includinB the intome and expendlturè, of thè Charitablè Company for that period. In weparing Ihese fmianclal smements ihetrnstees ¥e Wuired to". Select suitable accounting pohcies afid then app them con515tently; Make judgemenrs and a(cotIng esilmates that are reasonable and prudent,. State whether applrable UK Accoontlng Slandards have been followed, subject to any material departures di5c105ed and explained In the flnanclal statements- Observe the method5 and principk5 in the SLknfflent of Recofflmended Piactke- A¢¢¢untlDg and Reporting by Charilies (20191; Prepa the inancSal statements on the gox)g concern bas unkbss it is inappropriate lo prE5urne that the ¢hailty wlll contlnue In buslness. The Trustees are responsAe for keeping adequate acc<JuntinE pEcordsthat are Sufficient to show Hnd expl tbe Charit&le thmpanvs trart¥ttiorbS and disd(bse vrith reagonablÈ accur¥ at any time the financial pg51tK)n ofihe Charitable Company and enable them to ensurethoiihe fInarla1 staiements cornply with the Cvmpinie5 Act 2(16 ind the Chafities HTrJ TTU51¢e Inve51ment lkntland) A¢1 2005 and RÉgu12tions 6 and 8 of the tharilies Accounts IScotlarMI) RegulatioTrs 20(. Thty are also rèsponslble fcjr safeguarding thè issets of the Chaniable Company and hence for taking reasonable Steps ft•f Èhe prev¢ntion and ddection Of frd and oiher Irregularbtie The Trustees are responsible for the maintènance and integrity of the corporate and financlal lThforwtion Inct4JdÈd IN the charliable companvs website. Legislation in the United Kingdom governing Ihe preparation and disseminatl¢n of financlal statements may dlffei from legislatio in other jurisdiction& The maiTrtenance and integrity af the charity's website Is the responsiblllty of the TrustÈÈs'. The Trustees, responsibility also extends to the ongoing integrity of the financial 5tatement5 conlained thereln.
RSPCA ASSURED LIMITED IFORMERLY FREEDOM FOOD LIMITED) INDEPENDENT AUDITOR'S REPORf TO THE TRusfEE5 AND MEMBERS OF RSPCA ASSURED UMITED IFORMERLY FREEDOM FOOD LIMITEO) Opln We have audlted ihe flnan¢ial staternents of RSPCA A55Lffed Limited {lormerty Fieedom Food Limited) ¢the 'chaiitable company,) for the year ended 31 December 2023 which comprise the Statement of Fihalltla l Aciivitles, the Bal•n¢e Sheet, the Cash Staiement and note5 to the financial Statements Includlng slgnlflcant accounllng poli¢ies. The finanf ial reryJrting framework that has been applied in their preparation is applicable law and Urblted Klr)g&xn Aeeounting Standards, including FRS 102 "The Flnantial ReportingSt4ndard appllcable lrt the UK aml R¢wblir ol Irelancy (United dorn GEnetHI Accepted Jlccounting Practl¢el. In our opinion the financial statements,. give 4 true arbd fair view of Ihe state of the charitatde companvs affairs as at 31 December 2023 and of its incA)ming resources and application of fesour(es, Includi its Incorne and expendtture, tor the year then ended,, h4ve bEvn properly prepared in 4crordance Yith Uniled Kingdom Generally ArLepted A¢¢¢Untl PrKtice' an have been prepared in accordantt with the requirements of the Companies Act 2CX)6, the Charlties and Trustee Invest Isrotlandl Act 2(KJ5 and iegulatN)n 8 of the Charities Acounts (Srotlandl Regulation5 2LY)6 (as arncndedl. Bo515 fvr QpinEOn We have been appointed auditor under 5ffticbn 4411)Icl of the Charitie5 Ind ffU5tee Investment (Scotland) Act 2005 and uThler the C(wnpznies Act 2W6 and report to you in accoNlance Wbth regulations made undertho5e kn. We conducted our audlt kn accordance wlth Internatsanal Standard5 Dn Auditing {UKI IISAS IUKII and applicable lawi. Our responsibiliiies under those siandards are further deS¢ribed in the Auditorf5 reswnsibilliS forihe autht of the flnantlal siatements seaion of gui report, We are independent of the ChItable company in accordance with ihe eihical requlremenls that are relevant to our audit of thefiThancial statemer•ts ITh Ihè UK, iicluding the FRCS Ethlca Stahd)Fd and W¢ have fulfilled purrfher ethlcal responsibilities in ordance wilh thèse requlrements. We beleve thal the audit evidence we have Obtained Is sufflcienl and 4)proprlate lo prlIe a basis for ow opinio Coodusions relaii* to goins ¢((er In audlling the flnanGial statements, we have concluded that the trustees, use ol the going Coern basi5 of a¢rOtshtlng in the prepar1t1 of the financial 51atements is appropTiat Based 4Jn the WO we have performed, we have not identified matorial 14fbcertainties relating to È¥venES or conditiC•ns thai, Indidal or colkcttvety. mav ¢asi 5Enrfr4nt doubi on thp chafitHble company's abli iiy to corthtinue as a going concern fr•r a wiod ¢f at le¥s1 twelve months from whefi the financial slatemenls are authorised for issue. io
RSPCA ASSURED (IMtTED IfORMERLY FREECIOM FOOD LIMrrEDI Our responsibl11S and ihe responsibilltiesof the trustees wlth to golng eontÈrh are dÈscrlbed in the relev1 seCtS of this report Other informati The olher 4nformation tomFKises Ihe infomiation kncluded in IhèTrustees Report and Accounts olher than the r[nrIal 5tBtements and our authtorfs report thereon. The tru5tee5 are responsible for the other inforrnation contained within the Trustees Report and Accounts. Our opinion on the financial statements does not cover Ihe other information ar, except to the exteAI otherwise explicltly stated in our report, we do not expre55 any form of a55urance COrU510n thereon. Our responslbiliiy Is lo read Ihe othei Information and, in doifig $0, cotssider thether the other inMmiation is matèrlally inconsigient with the finantlal statèments ¢r our knowledge ¢blaIn ln the course of the audrt or othewise appears to be Material mlsstaied, ff we identify such malerial inconstenCkS or apparent matÈr121 misstatements, WÈ a required to detL¥mlne Whether thls gives rise to a materlal misstatenni ift the ffinaneial staiements therrtseTr. ff, based on the work w¢ bave performed, conclude thai there is a material mLsstatement of this other Infarmation, we are required to report that fact. We hawe nothing to lepprt in tIMs regard. Qplnlons on other matters presLYlbed by the fmpanles Art 1006 In our opinion, based on the. work undÈrtaken in the totsrse of audit: the information given in the cfirectorg, report prep¥ed ftsr the purposes of ¢¢mp?ny14w and included within Ihe Trustees Report and AGMunts. for Ihe fln3ncSal year for whkh the Ilnancial siatements are prepared is consisient with the Ilnancial statèments: ènd Ihe direclors, report included within the Trustee5 Report antt AoUnts has been prepared in a{Cordan with apKable legal req(tirements. Matters on which we are required to report by exept-m In the li£ht of the knowledge and underrtandin8 of Ihe charitable cornpaDy and tt5 environment obtained in the course of the audit, we have not identified material misstatements in the directors. report. irbcluded within the trustees, annual rerx)rt. We have nothlng rep)rt kn respect of ihe follo¥vlng matters where the Companies Acl 2CKTr6 and the Chaniies Accounts (Scotlandl Regu1atlons 2( las anended) require us lo report to you If, In aur opinion.. adequate and proper accounting records hawe not been kep( or returns aequate f¢r our audlt have not been recelved from branches not vislted by us. or thÈ finahtlal staièments are nat in agreemènt wilh the a¢¢ounling r¢¢trrds abd rEiums; or certain disclosures of iruslees, remunerailon specllled by law are nol made" or we have not recefrded all the Information explanalions we reqllre for our 3udit,' or Ihe trnSes were n¢1 ¢ntltled to pr¢te the fknan¢lal siatements In a¢(dn¢t wlth ih¢ smallcompanles, regime and take advantsge olthe snull con4)anjes' exemFxions In preparing the directors, report, Induded wlthin the Twstees Report and Accounts, and from Ih requrements lo prepafÈ a Stralegic reporL li
RSPCA A55URÉD UMITED IFORMERLY FREEDOM FOOD LIMITED) Responsibilities of trustees s explained more lully in the 51atement of Iru5tee< responsibilitpes set out on page 9, the trurtees Iwho are also the directors of the charitèble company f the purFrf)5es of company lawl resp)nsible forthe preparatK)n of the financial statements and for bein8 satisfied Ihat they give a true and fair view, and for Such inteTnal contrvl a5 the tru5tee5 delermine is necessary to enable the prEparation of financial 5tatenMts that are free from material mi5StaterMent, bthether due to frèud or ermr. In weparing the financi815totements, the trustEe5 awe responsible f¢r a55essir% ihe ¢harftable cornpany's ability lo continue a5 a going concern. disclosirg, as applicable, matters related to going oncEin and USinB Ihe Bo1 wncern ba515 of HccounliDg unle55 the Iru5tees Either intend 1¢ Ilquldate the charitable company or to cease oFriati0fis, or no reali5tK atternative but to do 50. Audit<rfs respbilitIeS lor Il a1[1 of th¢ statements Our obJectivÈs a to obtain rèasanable aSsurae about whèthèr the fanCIal statemenls as a ¥rfhole are free fr¢M materlal misstarement, whether due to fraud or Èrrtsr. and to Issué an auditor's report Ihat includes our opinion. Reasonable a55Uiance 15 a high level of a55urance, but Is hot a 8uafantee that an audit conducted in aLxordance with ISAS IUKI w411 always deted a material mi5Statement when it exists. Misstatements can arise from fraud or error and are considered material if. ldIVidUA Ily or in the aggregate, they could reasoThabFy be expected to Influen the economic dec1sKS of users taken on the basls of these financi31 statement The EXtEnt to which ihe audit wa5 wn5idered capabk of Jetertire irregulaTiti¢S, In¢dIng fra Irre8ukrities a re instance5 Of noTr-complbBnce with IBw5 and re8ul&tions. The obi¢rtives tsf aLtdlt re to Obtai sufficient appropriate audit evidence re8ardin8 LDmplwnce with law5 and regtIonS that have 2 direct effect on the determination of material amounts and disclosures in the financial statements, lo perform audit procedure5 tg help ideTrtfy instances ol noMplInCe with other l•¥vs and regulations that may have a material effecl on the financial statements, and to iespond appropriately to Kkntlfied or suspeded noncomplkince with laws and regulations *Jentifled durlng the autht. In relation to tra1. the dJjeCti5 of Our audlt are to Identifv and assess the risk of rnaterial mi55tstement of the finanrihl Statements (kne to fraud, to pbtaI suffi(i¢nt appropylate atsdit evidÈncè regardi the a55e5sed ri5k5 of material mi5statEmeni due to fra through desi8nkng and implementing appropriate reswnse5 and lo respond approrxiatth to fraud or suspected fraud ideniifkd durlthgthe audit However, It Is the prlmary responslbliiv of management, With the oversEhl of thDse charged with governancè, ta eftsure that the ehtity's operations are conductèd in accordanr£ with the provisions of laws and regulatlons for the Pvention 4rtyJ detecikjn of fvaud. 12
RSPCA ASSURED UMITED (FORMERLY FRgEDOPd FOOD LIMITED In identifylnB and assesslng rlsks of rnater1 misstatement in respect ol irregulaiitie5, Including fraud, the atsdli engagemènt team: obtajned an understanding of nature of the Sector. inclutfing the legal and regulaiory framework that the charitsble company operates in and how the (harltable ¢¢mpany ig ¢oMplylTrg wlth ihe leg21 and regulatory framework,. Inquired of managemenl, and those charged with gover(¢. about thelr own Identification and assessment of the nsks of irrEgularilie5, including any known aciual, suspert¢d or aleged lftstances of fraud; discussed ntle al>wl -ComplIance wtth lav45 aTrd regulatiotis and how fraud might occur IncIlIng aesSment of how and whe the financial statemenis may suscepiible to fraud. s a 511 of these Produres, we consider the mst 5i8fiifKant laws 4Dd règulations that have direct Impact on the financhil statcrnents are FRS 102, Charllies SORP IFRS IOZ), CompaniesAct 2th)6, the Charities and Trustee Investmenl {kotland) Acl 21)05 aNI regulation 8 of the Chaflties Accounts (Scotland) Regulations 2006 (a5 amondcd), and the charitable compan(s governing documerbt. We perfornied audil procEdures to delecl nDn-¢ompliances which may have a material irnpad on the financ1 5tatEment5 whirh lrtluded reéWIng the flThaThcial statements Indlg the Trustees, Repart, remaining alert to) new or uDusual trongartlons vjhith may not be in actOTdance with the governing docwnents. inspecti£ correspondence wlth local lax authorilies and evaluatin8 advice received from inlernal/exlem41 advi5ots. The aucmi engagement team entIfed the risk of nianagenient override of c¢ntTols and the Completeness of income as the areas whewe the fmancial staternents were most suscepttsle lo motertal missiatement due to fraud. Alt wocethres performed iKlucled but were nol limited lo testing manual journal entrfe5 and olher adjustments, evilualinsthe bJSiness rationale in relaiion to slgnificant, unusual transacti)ns and tran5artions entered into outside the normal course of blneSs, ¢hallenging judgmènts and estimates and fe¥iewiri8 transaLtions prcKessed in the F)OSt balance sheet perlod. A further description of our responsibilities for the audlt of the flnandal ststements is located on the Financial Reporting CourKil's web51te Ht http JlwwW.fr¢¢rg.uklauditorsresponsibilities. Thi5 descri)tion fom15 part of our audrtorfs reporL 13
RSPCA ASSURÉD LIMrrED (FORMERLY FREEDOM FOOD LviifEO) U$e ol our rep This report is made exclusively to the member5, as a body, in accordance ¥Yith Chapter 3 of Part 16 of the Companies 2006, and to the chadty'5 tru5tEes, a5 a body, in accordance with section 44llh{c) ¢f the Charitles and Tru51ee InvE51ment (Scotlandl Act 2005 and regulation 10 of the Charities Accounls (Scoilandl Regulations 2(Q6 (as amendedl. Our audit work has been undertaken so that we mlght srate to the memb¢fS and the rharity'5 ¢fuStE¢5 thosE matter5 we are required to stile to them ID On audi¢orf5 rep¢rt and for np other purpose, To the fullest exlent permitted by kw, we do not acttpt or assume responsibility to anyone other than the charity, it5 member5 as a body. and its Irustees as a boEty, for Ouraudit worl forthls rep¢rt, orfvtthe opinKJn5 we have fmed. LLP NJCHOiAS SLADIEN Isenior Statutory Auditor) For and on behall of RSM IKALIDIT LLP, Stattrt•)ry Audknr Chartered Atttsuntants 25 Farrvwdon Street iondan EC4A 4AB Oite 25 April 2024 RSM UK Audit LLPiseligible to a5 an auditcy in terrn5 015edion 1212 of the Corry>anies Acl 2006 14
RSPCA ASSURED UMITED (FORMERLY FREEDOM FOOD UkqlTEDI ATfMENT OF FINANaAL Amr1E$ IIAcorporating iThXbme and expend¥re Ye4r eNded 31 Decembor 1023 riote 2U23 2022 In¢on fiorn: Donations 8o,orJo charitable 3Ltivities s127 5.205,669 Oiler vading acii¥iiles 10,72Q lTrvestrneAts 12,482 2,242 Totsl iwome 5,663,999 5.298,631 Expondbturo w: Chariiablp aciivliies 5,977.180 4,28S,932 Net miJ¥Ement in funds 1313Jll) L012.699 Ror1(11•¥tiQTr ol fimds: Fwds brou8htforward ¥ ijonuary 2023 3.450358 L437,659 Fd$ ofried fornard It 31 DtCernI1 2021 137J77 3.450.358 All anKtyunt5 dixlosed gbove relate to unreslrKted funds apart from expendltvre on charitsble arti¥lUes of £46.740 wthich relale to a feSrrkd prolett. fvknre 0111 can be found in note 15. The notes on pages 18 to 27 forfft part of these flnahcial staternurt 15
R5KA ASSURED LIMITED IFORMERLY FREEDOM FOOD LIMrrEDI BAIJNCE 5HEEr COMPANY NO. 02723670 As at 31 De¢ener 2013 rlote 2023 2022 HXED ASSETS Tangbi le Fixed Assets Itangible Fixed Assets 3N51 103,437 10,397 114.653 106 125.Q5Q CURRE ASSEf5 Debtois 1,545.160 1.719,466 Cash ai bank and kn hand 2,624JL5 2,571,425 4,169.275 42%.89l CREDITORS: amowts lalling due within one par IlJ18.986> {965,583Tr NEf CLry¢RENT ASSErs 3,030,Z89 3,325,308 TOT JssEr5 LESS CURREWT LILME5 3,137.177 3,450,358 APITAL AND RESERVES Called share capli li Réstrktsd Fl 15 46,740 Unfeslrkled funds Desi8ated Funds other charitable Funds 14 3 1$7.175 3AQ3.616 TOTAL FUNtrS 3.137,177 3,450,35S Th¢5e financi41 slatements h34 been prepml in vAth the pro¥lsk)ns appllcable to cornpanles io rhe small companles, reglme. Si8ned on behalf of the Boord of Oweottlrs by Mr D Snh Chainnan I l April 2024 16
RSPCA ASSURED LIMITED (FORMERLY FREEm FOOD LIMITEDI
The no¢e5 on pa8es 18 to 27 lomi part OP these fclaI statements,
CASH FLOW5TATEMV
Year ¢wded JI D¢Mber 1023
Pdote
2U23
2022
Ca5b flow5 Irom operatlns acli¥itle
Net cash prI)ded by operadnÉ actidi
79.134
727,426
Caslj lknws fmm hwestlnÉ thfrlie
Barth Mltèrèst received
L242
Pwrhase Df InBIble fixed assets
(38,926)
1125.4341
Net cash used In1n46 attpJibÈs
(26,4M)
1123.1921
Change in ¢ash and rash equfvalents kn thé reporth¥ period
52.6YO
604.234
Cash cash eqlJIentS at tho beginng rjf the rep7
pewd
2.$71,41S
IJ6Y.191
Cath Gqsh è41i¥aléms at the end 41 the reportig rfod
2 624JlS
71,25
Notes to the c#)nsolSdated cash Ilo
A) Reconciliation of net inrA>mo to not lkn¥ trryn ppevatlrvd •¢tMlles
Net lempenditurev income for ih¢ rtporring p
13L3.1811
I12,699
Deweciation and arMr[ij?n charges
56858
17,144
Loss on disposal of i¥ngibk tsed a¢
Bank Inreresi reiefvable
23D
112,4821
12,2421
Decfeasel
R5PcAARED UMtTED (FORMERLY FREEDOM FOOD LIMITED) l. AccouFmNG POUCIES aCCoUtI lirieS adopted are de5crjbed below. The financial 5tsternets have been prepared ITr accordance wlth Account1 and lierting by (arItIeS,. Statement of RecDrnmended Practict ¥ppli¢pble to charitie5 preparlng thek accounis in cOrdanCe wtth the Financial Reporting Standard appllcable In ihè UK and kepvblic of Ireland {FR51021 Ichgrilies SQRP IFRSIQ2}1, the Financlal Rewrtln8 Stand¥d applicable in the UK ar>d RepuNic of Ireland IFR51021, Iho Charltle5 Act 2011, the Charities and Trustee Inveslrnent (scotla ki 2cffrS. the CharftS ACCOtS (Scotlandl R4ulAtions 2th16, ahd th2 CotnpaniES Act 2Cfl6. Ac<Oubn{ Co1¢1 The zccouDtin8 ststemeD15 ¥r¢ prepared under the historfcal cost conventM)A. Goingconcern The 8oard of TnleeS are rewired to assess rhe rea$esS OF the applkation OF the as5umptitTrn that the charilable Cornpany will be able ts continue as a lo1 c¢xGern for a wiod Df at IE&5112 fft)nth5 from the date thal the financial sratemefrts aréslgned. De5Plte the ch311en8es uf tho clwrenr e¢onomk polltlca cllmate, Wilh rising o)sts, the threat of stagnation, and the conflicts overseas, thè TrustÉe£ do hDt ionsider there to be a material uncertainty the ility of R5PCJ4 Assured to conunue as a 801Th8 concern for the foreseeable future. The Charity continued wiilb a Str th'nala1 perttsme Ih 2023 ihe defftit of E(L3m being due to stratesic project veStment. The Charity has a strore balance shÈèt Ithth a healthy cash balanie ad a hi4h level af unrestr#ed resen5. UTrrQsrricd reseNes iotalleo £3.Im as at 11 December 2023 representing Drc& six month5 expenditure. The Chzrity h¢ld g $h balance of £2.6rn at Ihe balance sheei date and thE cash flow fdrecasts indicate that the charity is likely to retw a he•hy cash balarKe throutlw)ut 2024 and lTrto 2025. The Trustees consider ilbat the Iwél OF OoIng support from charitable activities. Corn1¢ wiih free re5er¥es, secure RSPCA Assurefj Limlted for ihe foreseeable future and that whilst there 15 uTravoidable uAtÈrtèwlt¥ aSSOclated with the cwrenl eccnornic chmale. the Twscees do not (onslder ihere to be mèlerial uncertainty. On thi5 b475iS the Charity is congdefe41 lo bp a gott concern. Tanglble and Inble dxed isséts Fixe<i assets are Catased at $t. Prov151on is rnade for depreaaiion and Mti$tIon on a stfaight-fine basis VET the useful economii lrfe d each 355et. Assers less Ihan £l,QW are expensed lft Ihe yeor. The useful economlc lives have been estimated as follows: Offlce computerequlpment 3ye 5oftvr¥e aTrd iicences 3wr5 Inrxjme Membership irLomeis recognised in ful on the flrst day d the menlerShIp period, based on the Specific terms of ihe rnernbership agreemenL Licence fl afe cecbghised in arre5 based OD produce sold in the previous moniwwarcer. Income fiom dall0$ is recogfiised when Ihèré15 ehddemenL arry performance conditiorhs have been rneL receptls probable, ond measuremenl reliabl 18
RSPCA PSSURED UMITED (FORMERLY FPEEDOM f OQD LNITED) Expenthture IncIled irt the expenditure relat1 to Charitable actr11 are the (Arett costs of the As5etsors the suwort Costs of the Adrnini5¢raticn and Marketin8 departments. GcwernaKe cost9 conslsi of the alItOrf£ remunaan aThd the Trustees expenses. DrI thè yÈaf Th) Costs were incurred in raising funds, lJpertI Leases Renial costs undty operadng leases arè Inchjded In rotal expendltfft In arUal Instamenrs over the period of the leases. Funds RSPCA Assured knmiied hdd5 two type5 of re5erves- restred wrestrirte(L Restricted reserves relate to the balance of ilR E•1 Wdl. Eat Les5 kYoleGt. As al 31 Decernber 2023. the balance of res¢ri¢ted reser5 was £nll12022: £0.05ml. l)erails ol the resrrlcted fund are ser out In note 15. Unreslrirted reswves represw)t the maj4)rity of lund5 held. Unrestricted reserves srp held to fund strategic i111atIVe ovef ihe five-yeaf annIn& revlew and as an 'adversliV or a coniknuit¥ reserve to protect operattons against unplznned therse EIMt5 such 715 foth and rnouth disease and aman flu. A5 ai DecEmber 2023, the bal8nce Df uTrrestfllted reserves was £3,1ffl12022 £3.4ml. Penslon tosts Penslon (osis In réspect of emplwees fM pan of the payroll colls and ar rhed by RSPQA who operate Ihe payroll on behalf of RSPCA P4swed Ufflrted, in the rrth io whrh thwfekne15ee Ole 4?, Criiital accounliAg PAdpmertX iAd key Ir(l9 rf éslwnDIi •Aeertinty In the application of the charits acrLJurrtirE trustees are regred to rnak2 judgeffents e%timète5 and assumption5 èkw)ut the ¢arTring valu&s of assets kabilitie5 thal are nol readily 4¥parent Irom other sources. The estlmores and underly1ni assumptl(ms we based on his1Ical experfeKe and orher faciors pre considered tè be feltvaTrt. ktual ftsults rrAy d]ffèr from thÈ$èeIfftè& The key areas ofaCtI judgwneni esllrnalD for th¢ thariry irKlxl¢: Flxed 95sets The charge In reSpt of pwlodK deweaaih)n and an¥)rn5a1 ts derNed aftw determinmig an esiimire of ITr as&Ei'5 expecled eful life. The useful life of an assetls dEterrnlTred at the tirne the assel Ls atqulrÈd or brought into use ad reed annually for apwcyriatenes& The VeS are based on historical experlence togeih¢r with onticipalion of futvre e¥efflt The company 15 a charity within the rnear4nK of Para I Scheduk6 FiTrae Act 2010. k£ordI1¥• RSPCAAswxed rnsled is eyempt trorn taxa1 in reSpt crf iKDme or capita gains tu the Exterht that such irKome or galns aro applied excfvsj¥ to ¢h3ritable purposes. tax char8e art15e the periDcL FinarbLial Instr5 The charitable company on4 has final assets and finanoal liabilities ol a klAd that qUafy as basic flnatKlal instruments. Basic finaTrcial iD5trument5 are llIa1 retogni5ed at transaction vafue and 5th5equently meayJred ai amnised cosi USI the effeciive iTrrere$1 method, 19
RSPCI ASSURED UMITED IFORMERLY FREEDOM FOOD LMITED) IKOME Donatn5 2023 2022 Eat Less Eat Betler 80,000 90 8D,000 IncomE lorn tharilablp attivitie5 2023 2022 Mernbershlp schwne I,334y 1,368,172 Licencelees 4,317,118 3,837,497 5.651,427 5,205,669 athet ttadinK a(ti¥ins 2022 Sale of goods and other in¢on 10.720 IbwestmeThrs 2012 Interest reca¥ed 12,482 2.242 IA¢ome delailed above Is wholy unreslrlcted12022'. wtholly unrestricted other th £800 d)nation iOe, which was reslrlcred). See note 15 for further detalL 20
RSPC4 ASSURED UP•11TED {FORMERLY FREEDOM FOOD LIMITED 3. EXPENDtrLIIE Charitablo a¢rp4iths 2023 2023 2023 DSre¢t Suppo To141 F¥rm 4nirnal welfare L996,478 3,907,622 5,904,100 GaYerAance costs 26,a4(1 26,340 Eat Less Eat Better 46.740 46,740 1,996,478 ,980.702 977,180 Chable Arthltles 1022 2022 2022 DrECt pport Total F animal welfare L547.015 2,676220 4.223,235 fjQvernce msts 29.437 29.437 E less Eat Better 33,260 33,260 1,547,Q15 2,738,9l7 4285.932 ExpenthtUTe detaled above is wIlIV unre5trirted other than £46,740 lor the Eat Less Eat Better Pfolttt (2022., £13,2601, which 15 re51ricted. See note 15 far lurther delail. Inchjded in ¢¥penthture are fees Payab In respett (. 2022 Audltorf5 rem•Jneiallo 23,310 22,1(Al Hire ot moror vehicles under operatlrf leases 232,5 160,203 21
RSPCA ASSURED UMITED (FORMERLY FREEtKJM FOOD UMITEDI 4. INFQJ1144TION REGARDING EhlPLOYEES DIREcr(Ais 2023 2022 No. No, A¥erw numberofpeThans eO¥d Assessments, marketln84 and pthlicity 37 35 suppt, mana8¢nt, and 4dmlnlstratlon 13 2023 2022 Stalfcosts durINZi year ases ond salwles 2J96,340 1,721.941 Sticial securily costs 2lZ l65,470 Pension costs 2299L7 178,813 2.066.224 In 2028, 0e Empknyee earned between EIIO,LI]0 gnd £119.999, Iwo empltyees eamed between £70 000 and £79,999 and iwo employees earffted between £60,000 ahd £69,99912022: ¢Me empluyee earned LtWee E80.000 and E89,999 and one employee eamed between £7L1,o and E79999). CDntbIo to the penslQ scheme lor these ffve hlghest paid employees arnounted to £35364 {2022,. contribuil¢ lor these two thlghest Paid ÈThployee5 arnounted to E13,3261. In 2023. RSPC4 Aswred made terminaticn Paym5 of £6152012022: ETrill. The lerniinatM)n payments related iè séitleffieht 4reemefits. ThE accounting pokncw is to recosnw terffllnalion payments on cornmunlc*ion of intention to pay and whtn qlIfb1e. gJth pawnerffs are attounterl for as staff rosts. The PayrrnIS were unded from UTrre$ted funds. RSPCA Assured considers ris key nwnagemenr personnel io comtylsè fru5tée5 and the Chief Eyecutive officer. The total eMploYrnt benelits irxludlng employer penslon contribution5 t4J key manYABerTrent personnd were £130,70112022: £1{,093). The Trustees all give their time and expertise with(yJt arby lorfft of remufièradon or ther benefit in cash or kil, in thE cwreDt year travel expenses m)unting to £191 were 1Mbur5ed to Dne trustee12022". Enil 22
RSPCA ASSURED uMrrED IFORMERLY FR£EDOM FOOD LhMifED) 5. TIBLE FIXED ASSErs ofFe and Compr eqUipfflt Total CD5t At l )ary 2023 41.103 41,103 tlisp)sa1s 123,1991 123,Ig9) At 31 D0Mb•r 2023 L7,904 At l January 2023 3D,706 30,7C6 th¥r8¢for theyeor E.Ilminated In respe¢i of d)s 6,211 12Z,4641 6,211 (22,464) At Xl l)ecember 2023 14,453 14,453 Net Book VElue At 31 December 21Y23 3,451 3,451 Al 31 Decemb¥ 2022 10,397 10,397 6. INTANGI&É FIXED ASS$ Software Ind Ikences Tal At l J*uary 2023 125,454 125.434 38,926 38.926 Ai 31 Detembef 2023 164,360 164.360 Depredatlon At l January 2023 10,781 10.781 Charle For thè year 50.142 50142 At 31 December 2Q23 fA),92 60,92Y Net Oook Value At 31 De(Èmber 2023 IQ3A37 103,437 At 31 December 2022 114,653 114,655 23
RSPCA ASSURED LIMITÈD (FORMERLY FREEDOM FOOD LIMITED) 7. DEBTORS 2023 2022 Trade debtors 42.183 456,278 Qrhw thbrors 39A23 7.401 prepentS Ind accrued incorne IA63,674 1255,787 1.545,160 1.719,466 CREDITORS; APAQUNTS FALLING LNJE WIThIN YEAR 2022 ttsdil<*S 279.1 26fj.951 Othertaxes sodal sécwlty 149.222 94.702 s and deferyed incomo 2521 173.655 ArTh)urrtS 04ved tc the RSPCA 417.781 4(6.351 oikr credi15 39,994 23.924 1,138,986 965,S83 9. IEFERRED INCOME Deferred incornE cornprises merrkership scheme income receipts r@c¢iwed prv)r io ihe yew-end thai relates to the future rerti per, The deferred income is rdeased 10 ihè Siaterfiènt of FlTraTrclal Actlvltles In the followirg year. 2023 202Z Membershlp xlbeme Inc( Ai l January L22.489 itsJ,56a Amounts deferred in the year L39345 122,489 Amounts released.to income in the year Il22,419) 1liTJ,563 At 31 IJe(ember L39,545 122,489 24
RSPCA A55URED LIMITED (FORMERLY FREEOOM FOOD LIMITED io. (XIERATING LEASE C0ftIMITIffS The Ckryany has lotal crnitrnents at the yearnd operat1 le47se5 exrIng as follow5: Mot YehJdÈs 4)tor vehicle5 2023 2022 Less than one year 48,450 TNW) to flwe ¥e4rs 14,756 29269 63.206 IL CALLED UP SHARE CAFYfAL 2023 2022 Al71Sed. 100 Or(linary Shares of El each L(Kl iou Calkd up, allotled lully pald: 2 Ordlnary Shwesof £1 e 12. ULTIIL4TE PAlIEr ENTrrf AND CONTrOLLING EKfiTY Thè tonTrany's ultimatE parent entty and cantrolln8 EDlity is Ihe Royal SOCtY for the PreweTr140n of Cruelty lo Animals I'R5PCA'I. & régistered charlty in Gfeat Brltain (reglstered thèrity no.2190991. The primary objective of Ihp RSPCA is tho preventlon cruelty to anlmals, al the core of which 15 the iDJpeaoièie wh) provide a wide range of rescue services fr the rrK•st abused and wJlnerable animals. These rescue seNces 1Clude the Inspectorate's preventstive and educational work, enlorciD8 the law, rehabili14rDn, rMine1 and Wildlife rescue. The range of Insworare work and Ifs related swort sÈrtiCES are the core aclivity and are unique to the RcA. Crjpies of wnsolidated acc¢)uTrts are avallable fr(pm: The RSKd 4t1 Floor Park5Kle, chart Way. Horshaffl, West sussex. RH12 IGY. Thare intermethate parenr tornpanies. 25
RSPCA ASSURED LIMITEO IFORMERLY FREEDOM FOOD LIMITED) 11 RELATED PARTY TRAN&4cric RSPCA charge5 its 5ubsidiarie5 a quarterty m¥na8ernent le-che fee frJr subsldlary us*e of shared o¥erhead osls to ensure thal all in1ragr0 transactions take pl3ce on an èrm's leiWh basis. The methodology of calculating the rnaged fee was rÈvlewÈd In 2023 followin& an evolution of the activities of the entitie5 WlthÉn the Group slr>ce the last review date, A new rnethodology w?5 approved by the PSPCA &)ard OF Trusiees and the RTL Board of Direttors. The new rfheAlolr¥y has been •pplled to all fourquarters vAihln 2023. Management fees ore charged to RSPC4 Asswed iNnited by the parent thaiivi, RSPC( In ihe year ended 31 December 2023 these arnounied io E403,086 (2Q22'. E188.1771. RSPCA also operate the payroll on behalF ol RSPQ4 Assured Umited, and all assoclated £0s1s we rechaed direct by the parent cornpary. All staff are dlrectly Èmployed b¥ RSPCA Assured Llmitèd. pr31y, the seThice of some RSPCA Livestth offi(¢rs was used during the year recharged to RSPCA Assured iimired. During the current yèar no aMntS werè rtthar8Èd (2022: £127,884). In the yew ro donation5 received frr)m the paret)t compan¥11022'. A donation of E8Q,orJ) was received from the pareThr cornpany in the year, toward the Eat Better Eat Less Proiettl. At the ye&r- end, RSPCA AssLYed Limlted owed £417,781 to thÈ ftSPCA12022: £41%,Ixpoi 14. (ESIGNATED FUND hlOVEMENTS 2023 2022 At l Janvory J,000 Expenditure IILKJ,(K)01 Tran5fer5 At 31 Qetser IS. RESTRICTED FUKD MovENTs 2Q23 2022 RSPCA Proje¢t Eat Less Ett 8etier Al l jUlry2OI3 46,740 Incon 80,000 Expertthtufe (46,740) 133,2601 Ar 31 Oe(ember 2Q23 46,740 26
RSPCA ASSURED LIMITED (FORMERLY FREEDQM FQOD LIMtTED 16. ASSThS BY FUND Fi¥Ed Current Current liabiiiiles Totzl ass$ 2023: Restricled fynd Unrestrictod fund lQ6,888 4.169,275 11.158,9861 3,137.177 106*88 4,169,275 (lJ38,986J 1137,177 2022: Re5trirted fund 46,7) 16.740 Unreqricted fu1 125,Q50 4.244,151 {96S,5831 1103,618 I2550 4291.891 1965,583) 385058 27