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 IF0￿ERLy 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 Fina￿la1 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 Ch￿￿ty in Stolland No. SC018199 OFFICERS AND PROFESSI￿AL 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 Secretar￿5 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 p￿rt￿￿al 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 al￿Viate£r￿￿1lY 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 cha￿ed 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 be￿￿1claI Ow￿[ of RSPCA A55ured. ASPCA A55uied Lid is Boverned by a Met[￿rand￿m 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 {r￿lsIered number 1059879> since December 1996, and the Office cl ihe Scottish Charity Regulaior In Scoiland {re￿Stered number SC038199) since May 2C￿7. 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 Tn￿leeS 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. t￿ri￿ the reCrUitn￿nI and apwlntmenr rrfo¢ess. éach pr05pedlve Trustee 15 pfpvKled with informatign about the Ch￿itable compaTr(s constitutiorb, pohcies, and actT¥ilies. Within 2022, RSPCA Assural completed a rewew of their gotrernance and ihe recommendatlons were ac￿pted by the Board of Trustees In November 2022. WlthiTh 2023, as part of the ongolnE Implemeniallon of these recommendatlons, the RSPCA A￿ured 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 mAn￿eMent lie5 Wlth the FARCOM. The Board of Trustees appoinis the Ch￿f Executr￿/ ExecUt￿e 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 ex￿￿t￿ye 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 iM￿ementall0￿ of the strategy, and ihe Senlor Leade¢shlp Team re4)onslble for ihe day to day managen￿mI 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, m￿a of Stiaiegk Dellvery, Head of Marketing and C(¥nmvnKation5 and Head of Farming Engasement. The pohcy for remneratlon of all staff, InclL*lli* 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 def￿11 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 bala￿e 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(1￿Je the successful adopt￿Tr of technology with a G￿8[e mlgr4tb>n and A55e55or App trials. We fornied a brand new F*m 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 so￿e PToNem5 and 0￿rcorne 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 Kerr￿ge 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 re5c￿e& 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 fOrfarn￿d 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. R￿￿2rd 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 Ir￿￿1VeS 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 rep￿t ￿en￿strate5 the ach*vements 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 SC￿me 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 manag￿8 the most effective implementstr>rb of thelr sharÈd goal for far[r￿d anlmal5, PRINCIPAL RI￿5 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 reSt￿￿ed 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 r￿k of consumers moving away from hi£her wewaie anwnal products and prOdU￿rS sIrU￿ling to afford io meet higher welfare standards. There hB5 beerb no ￿ed￿t￿n 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 mc*nrioring 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 aSSUra￿e 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 d￿and 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 sU￿ltIent 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 ￿T￿nCIal statÈrnent5 l1￿1Clte a strong balance sheet, wrth a hl8h level of resepoe5 and cash at the end of 2023. As at 31 Deccmber 2023, I￿re 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 end￿8 Il December 2024, the 802ft1 of Tru5tee5 Bre satiSf￿d that the level of prnjecled Income will be mèt èven In the context irf the Challengi￿ economit environment with C4Jntinued Infl3t¥)nary pr￿UreS 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 ￿01￿8 foreasts and proie(tions on a regular b951S to ensure thot RSPCA ASs￿red remains financially viabk amidst the chalenging economic envlr¢nrnent, With the above mcasure5 in pl￿e, and the stron8 curreni financial post￿n 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 I￿en taken ty the company, ￿ by any{￿e attln£ vn It5 I￿half,, No fundraisin8 Standards or Scheme forfundraiSinE regulation have been subscribed to byihe comp4ny, or by anyone ￿11￿8 on its beha￿,. No complaints In relatx)A to fundralsing ac11vit￿S 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 reappo￿ted 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 inforMat￿n 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 rtale￿Knl5 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(co￿tIng 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 respons*Ae for keeping adequate accwl ￿￿-ComplIance wtth lav45 aTrd regulatiotis and how fraud might occur IncI￿lIng a￿esSment of how and wh￿e the financial statemenis may ￿ suscepiible to fraud. s a ￿5￿11 of these Pro￿dures, 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 financ￿1 5tatEment5 whirh lrtluded re￿éWIng the flThaThcial statements Ind￿l￿g 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 ￿entIf￿ed 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. A￿lt 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 b￿lneSs, ¢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$e ol our rep This report is made exclusively to the member5, as a body, in accordance ¥Yith Chapter 3 of Part 16 of the Companies 2006, and to the chadty'5 tru5tEes, a5 a body, in accordance with section 44llh{c) ¢f the Charitles and Tru51ee InvE51ment (Scotlandl Act 2005 and regulation 10 of the Charities Accounls (Scoilandl Regulations 2(Q6 (as amendedl. Our audit work has been undertaken so that we mlght srate to the memb¢fS and the rharity'5 ¢fuStE¢5 thosE matter5 we are required to stile to them ID On audi¢orf5 rep¢rt and for np other purpose, To the fullest exlent permitted by kw, we do not acttpt or assume responsibility to anyone other than the charity, it5 member5 as a body. and its Irustees as a boEty, for Ouraudit worl forthls rep¢rt, orfvtthe opinKJn5 we have f￿med. LLP NJCHOiAS SLADIEN Isenior Statutory Auditor) For and on behall of RSM IKALIDIT LLP, Stattrt•)ry Audknr Chartered Atttsuntants 25 Farrvwdon Street iondan EC4A 4AB Oite 25 April 2024 RSM UK Audit LLPiseligible to a5 an auditcy in terrn5 015edion 1212 of the Corry>anies Acl 2006 14 RSPCA ASSURED UMITED (FORMERLY FREEDOM FOOD UkqlTEDI ATfMENT OF FINANaAL A￿mr1E$ IIAcorporating iThXbme and expend*¥re Ye4r eNded 31 Decembor 1023 riote 2U23 2022 In¢on* fiorn: Donations 8o,orJo charitable 3Ltivities s￿1￿27 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 F￿d$ ofried fornard It 31 DtCernI￿1 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 feSrrk￿d prolett. fvknre 0￿111 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¢en*er 2013 rlote 2023 2022 HXED ASSETS Tangbi le Fixed Assets I￿tangible 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 L￿ILME5 3,137.177 3,450,358 APITAL AND RESERVES Called share capli li Réstrktsd Fl￿ 15 46,740 Unfeslrkled funds Desi8￿ated 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 Sn*h Chainnan I l April 2024 16 RSPCA ASSURED LIMITED (FORMERLY FREE￿m FOOD LIMITEDI The no¢e5 on pa8es 18 to 27 lomi part OP these f￿￿claI 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 In￿BIble fixed assets (38,926) 1125.4341 Net cash used In1n*￿4￿6 attpJibÈs (26,4M) 1123.1921 Change in ¢ash and rash equfvalents kn thé reporth¥ period 52.6YO 604.234 Cash cash eq￿lJIentS at tho beginn￿g rjf the rep￿7 pewd 2.$71,41S IJ6Y.191 Cath Gqsh è41i¥aléms at the end 41 the reporti*g *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 I￿12,699 Deweciation and arMr[i￿j?n charges 56858 17,144 Loss on disposal of i¥ngibk tsed a￿¢ Bank Inreresi reiefvable 23D 112,4821 12,2421 Decfeasel16 {4l4,390) IncrÈasÈ lrt cfÈdltthrs 175AO) 114,115 Net fash provlded by opèrnlkn£ aafv*les 7Y,134 727,426 Loans and oventrafts The tharity does not have any external debt or borrowlw as a netdebt recoThciliation 15 notprepared. The ntxes on pages 18 to 27 form p*t ol thesé flnancral Statements. 17 R5PcAA￿RED UMtTED (FORMERLY FREEDOM FOOD LIMITED) l. AccouFmNG POUCIES aCCoU￿tI￿ ￿lirieS adopted are de5crjbed below. The financial 5tsterne￿ts have been prepared ITr accordance wlth Account1￿ and lie￿rting 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 Charft￿S ACCO￿tS (Scotlandl R4ulAtions 2th16, ahd th2 CotnpaniES Act 2Cfl6. Acce 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 recha￿ed direct￿ by the parent cornpary. All staff are dlrectly Èmployed b¥ RSPCA Assured Llmitèd. pr￿￿￿￿31y, the seThice of some RSPCA Livestth offi(¢rs was used during the year recharged to RSPCA Assured iimired. During the current yèar no aM￿ntS 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 Qe￿￿tser IS. RESTRICTED FUKD MovE￿NTs 2Q23 2022 RSPCA Proje¢t Eat Less Ett 8etier Al l j￿Ulry2OI3 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 fu￿1 125,Q50 4.244,151 {96S,5831 1103,618 I25￿50 4291.891 1965,583) 3850￿58 27