Registered number: 04185603
Charity number: 1086903
ANIMALS ASIA FOUNDATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ishop Fleming

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
CONTENTS
Page
Reference and Administrative Detsil$ of the Companyy its Trustees and Advisers
Trustees. Report
Independent Auditors. Report on the Financial Ststements
statement of Financial Activities
9-12
13
Balance Sheet
14
statement of Cash Flows
15
Notes to the Financial Ststements
16-33

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2021
Trustees
B Chiao (Resigned g March 20211
J Robinson
J S Warham (Resigned 9 March 20211
N Field (Appointed 9 March 20211
A Collier (Appointed 9 March 20211
Company registered
number
04185603
Charity registered
number
1086903
Registered office
OffiTr 17 Mary Seacole Road
The Milllields
P￿rnOUth
PL1 3JY
Company secretary
L Simpson
Page 1

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present IheiT annual report together with the audited financial statements of the
company for the 1 January 2021 to 31 December 2021. The Annual Report serves the purposes of
both a Trustees, report and a directors, report under company law. The Trustees confiim that the
Annual Report and financial statements of the charrtable company comply with the current statutory
requirements, the requirements of the charitable company's governing document and the provisions
of the Statement of Recommended Practice ISORPI applieable lo charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS102) (effective 1 January 20191.
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic
Report required of medium and large companies under the Companies Act 2006 (Strategic Report
and Directors, Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of the company are to promote animal welfare for the benefit of the public by activities
including..
Providing and assisting in the provision of relief of suffering to animals in need of care and protection,
And preventing cruelty to animals in Asia and elsewhere,. and educating the public in matters
concerning animal welfare.
In setting objectives and planning for activities, the Trustees have given due consideration lo general
guidance published by the Charity Commission relating to public benefit, including the guidance
'Public benefit.. running a charity IPB2}'.
b. Strategies for achieving objectives
The objects of the company are lo promote animal welfare for the benefit of the public by activities
including..
Funding 3 main programs which are.,
Ending Bear Bile Farming,
Cat and Dog Welfare and
Captive Animal Welfare
which are delivered and managed by ourgelves in Asia, in particular, in China and Vietnam,.
- Actniities undertaken to achieve objectives
Through our work we are providing support for many people both in the UK and elsewhere who
have a deep respect for animals and wildlife. Our education activities with young people and aduhs
in the UK and those we help fund in China and Vietnam are beneficial to those directly involved and
their wider communities. We are also very fortunate to have a growing active supporter base which
is instrumental in raising awareness of our work.
d. Volunteers
Page 2

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
The Charrty benefits greatly from the involvement and enthusiastic support of ils many volunteers.
Our volunteer support network continued to grow through 2021 and we now have over 250 people
regularly volunteering across the country, including our shop in Weslon-super-mare and our
Plymouth office. In accordance with FRS 102 and the Charities SORP IFRS 1021, the economic
contribution of general volunteers is not recognised in the accounts.
e. Related party relationships
Animals Asia works very closely with other animal charities in Asia. Donations from the UK charity
are donated to Animals Asia Hong Kong who carry out the charitable activities.
Achievements and perfomiance
Review of activities
Animals Asia works to improve the lives of animals in Asia. From rescuing bears from the bile trade
to lobbying against the cal and dog meat industry and fighting for the welfare of animals in captivity,
the work we carry out on behalf of supporters never endg.
Here's what we achieved in 2021..
Ending bear bile farming
We brought home to sanctuary 118 bears
17 in Vietnam and 101 from a former bile fami in
Nanning, China. We'd been caring for the Nanning bears for seven years and had been negotiating
almost as long for permission to bring them home to our Chengdu sanctuary. Finally in April and May
2021, we were able to transport the bears lo their forever home. All of our surviving Nanning farm
bears can now feel the grass under their paws
After frustrating delays caused by the pandemic, construction of our second
and last - bear
sanctuary in Vietnam is going ahead full steam. We've begun preparations for building our new
sanctuary al Bach Ma National Park, which will be home to the country's very last bile bears. They
will have large outdoor adventure playgrounds with trees to climb, pools lo swim in, and swings and
hammocks for playtime and snoozing. The rescue of these remaining bile bears
around 300
signifies the end of bear bile farming in Vietnam.
Every one of our rescued bears is now participating in their own health care. With the help of treats
like condensed milk, all will voluntarily walk into a cage for a visual check-up. And some have learned
other ways to help our vets
like holding their arm in 8 lube while their blood pressure is taken,
standing on two legs while their abdomen is examined, and presenting their claws for clipping. Our
Cooperative Care program not only saves lime, il also means that for simple procedures the bears
don't need an8esthesi8, lessening any health risk.
Two of our Vietnamese veterinary interns have passed their training to become Junior Veterinarians.
They will be based at our soon-to-be-built second sanctuary at Bach Ma. The sanctuary will be
staffed entirely by Vietnamese locals.
Every day, our rescued bears receive three nutritious meals tailored to their individual needs and
tastes. Overall, our bear care teams delivered 312,312 meals in 2021. The bears chomped through
over 435 tonnes of nutritious food - vegetables, fruit and dry dog kibble.
Page 3

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
We provided 2,000 hessian sacks to the rescued bears at our sanctuaries in China and Vietnam.
These were an essential part of the bears, enrichment program, which sees them given ever-
changing toys, treats and browse to keep them occupied and to stave off boredom.
Cat and Dog Welfare
Millions of dogs were spared from slaughter after their removal from China's official live slocklist took
effect. The move came after many years of lobbying by Animals Asia.
Our animal-assisted therapy program, Dr Dog, turned 30. It was 1991 when our founder, Jill
Robinson's golden retriever Max put his big, gentle paws onto the bed of a delighted paraplegic boy
and Dr Dog was born. This pioneering therapy program
the very first animal-assisted therapy
program in Asia- soon grew lo include Professor Paws where the dogs visit schools and universities.
Now our gentle dogs visit hospitals, orphanages, and care homes in four mainland Chinese cities as
well as Hong Kong.
In 2021, over 10,000 people had visits from our therapy dogs and their volunteer guardians.
92 animal welfare groups in China are supported by Animals Asia
materials or with advice.
financially, with promotional
Animals Asia helped over 2,600 cats and dogs in struggling Chinese shelters. Support included food,
vaccines, beds and, in two cases, a complete rebuild of the shelter.
Our trap, neuter, return ITNRI projects in China gave 559 stray cats better lives. We work with local
animal welfare organisations and the community to ensure the ongoing success of the projects.
Captive Animal Welfare
Elephant riding has been banned in a Vietnamese province after a ground-breaking agreement. In
2021, we signed a Memorandum of Understanding with Dak Lak Province in Vietnam lo end elephant
riding there. Most elephant-riding camps are located in the province, so this is an elephant-sized win
for our pachyderm friends. This historic agreement also bans abusive practi￿5 during elephant
festivals and commits to developing progiams like our pioneering ethical elephant tourism project in
Yok Don National Park, where visitors, from a respectful distance, observe the elephants roaming
naturally in the forests.
We rescued three more Asian elephants from lives of drudgery - carrying tourists and heavy loads
to spend the rest of their lives roaming the forest and bathing in rivers in Yok Don National Park.
This brings to 11 the total number of elephants under our care in Vietnam.
Wild animals, from primates lo exotic birds and reptiles at rescue centres in Vietnam received 145
acres of enclosure space specially designed lo their needs.
We delivered talks and exhibitions promoting "Animal Emotions and Cognition, to thousands of
primary, secondary and university students in China.
Our partners, FLIGHT, rescued and released 45,000 trafficked songbirds back into Indonesia's
jungles. Songbirds are vital lo the pollination of the country's rainforests, so releasing the birds
protects the homes of all the forests, inhabitants.
25 Chinese zoos implemented 54 welfare improvement programs following attendance at our
workshops in 2021.
Page 4

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Raising awareness
Working with schools in bile farming areas, we're growing over 24,000 herbal alternatives to bear
bile in 13 gardens around Vietnam. These gardens bring the news that nobody will suffer for a lack
of bear bile lo a wider audience. Local children plant them and lend them as they learn why their
country's ieonic moon bear species needs to be protected.
We held 23 public events throughout China to promote our work. These included plays, concerts,
art competitions and exhibitions.
Children in three poverty-stricken villages in China now have their own school libraries, with the
opening of our third "Moon Bear Library" in Sichuan province.
Our education events, seminars and online events directly Teached tens of thousands of people in
China
students, teachers and members of the public. Vve reached hundreds of thousands more
through media coverage and social media channels.
We worked with global media to tell more than 150 million people about our work to end bear bile
farming and promote animal welfare. Outlets included Agence France Presse, the BBC, the
Washington Post, the New York Times, The Guardian, South China Post, People, Yahoo Newsl
The Daily Mail and The Express.
Future Plans
Due lo the continuing COVID-19 pandemic in Vietnam, approval and construction of our new
sanctuary in Boch Ma National Park was delayed. We are hopeful lo re￿1ve full
approval to proceed in 2022. Over 300 bears remain on farms around the country and Animals Asia,
in our role as the Vietnam Government's official partner in ending bear bile farming, will work closely
with authorities to see every last bear released.
The rescue of the final Vietnamese bile bears is expected to lake several years, but the construction
of the new sanctuary will mark the beginning of a new better life for these animals and the end of
the cruel practice of bear bile farming in Vielnam. It will be a historic landmark for Animals Asia as
we see one of our founding goals realised.
We will continue to work closely with over 200 local organisations in China to ensure new regulations
against dog consumption are monitored and enfor￿d, and we will support the ongoing work lo care
for animals on the street and in shelters. Our outreach work will also see us continue to give advi
to local govemmenl animal control aLJthorilies.
We plan to expand our work in Vietnam to work to end the elephant riding industry and introduce
ethical tourism options. We expect to rescue several more elephants lo join those already living a
supervised free-roaming life in the forests of southern Vietnam.
Financial review
Fundraising activities and income generation
Animals Asia UK income grew over 30Yo in 2021 from £3.04m to £3.97m despite the continuing
impact of the COVID-19 pandemic, thanks to continued strong performance from our individual
giving programme and digital channels. Income from legacies increased by 970￿. Expenditure grew
significantly.
Page 5

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
We will continue to build on these successes, with a focus on fundraising to construct and staff our
third bear sanctuary, which is part of our joint project with the Vietnamese government to end bear
bile farming in that country.
Investment policy and performance
Under the Memorandum and Articles of Association Animals Asia has the power lo make any
investment which the Trustees see fil. As funds are only retained for short periods before being
remitted to Hong Kong head office these funds are simply held on deposit with the company's
bankers.
Going concern
After making appropllate enquiries, the Trustees have a reasonable expectation that the company
has adequate resources to continue in operational existence for the foreseeable future. For this
reason, they continue to adopt the going concern basis in PTeparing the financial statements. Further
details regarding the adoption of the going concern basis can be found in the accounting policies.
Reserves policy
We closed the year 2021 wrth a balance of £219,948 in general funds providing around 2.5 months
reserves. Our aim at Animals Asia UK is lo strike the fine balance between demonstrating a prudent
level of security which will sustain the charity in the event of difficult circumstances, whilst also
ensuring we do not hold on lo funds unnecessarily. Our goal is lo increase our reserves lo cover 3
to 6 months of expenditure oveT the coming years to achieve this aim.
Principal funding
Animals Asia UK generates around one third of its income from individual regular and one off gifts
supported by our global marketing team. We also receive income from our fundraising volunteers
and major donors, and also legacy gifts which are vital to sustaining our program work but are
impossible lo plan around meaning we can't rely on, or plan against, this income.
Structure, governance and management
a. Constitution
Animals Asia Foundation is registered as a charitable company limited by guarantee and was set
up by a Memorandum ofAssociation.
b. Methods of appointment or eledion of Trustees
Trustees are recruited based on their skills, experience, empathy and understanding of the charity
and how these satisfy the needs of the charrty. The management of the company is the
responsibilrty of the Trustees who are elected and co-opted under the terms of the Articles of
Association.
Page 6

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
c. Oryanisational structure and decision-making policies
The Board of Trustees govern our business and as al 1 st January 2021 there were three Trustees.
The Boaid determined its Tole at its conception in 2001 and continues to periodically review its
position. Vve see our function as ensuring good governance ofthe company and to this end we focus
on matters of policy and strategy, the approval of plans, monitoring of progress and financial
controls. The day to day operational responsibility is delegated to the Director.
d. Policies adopted for the induction and training of Trustees
All Trustees are fully inducted by the charity on its aims and objectives and the role they have in
developing the charity. The Trustees have all received the Charities Commission guidance on the
Roles and Responsibilities of charity Trustees.
e. Pay policy for key management personnel
Animals Asia employees are offered fair pay in accordance with their skills, experience and
contribution lo the development of the organisation. In keeping with the wider charity sector, our
pay structure is lower than public or private sector market rates for similar roles. We offer faiT pay
to attract and relain fundraisers that offer the best return on investment and our salaries are in the
middle quartiles for charitable pay.
f. Risk management
The Trustees actively and regularly review any major risks that the company faces. It is believed
that maintaining the current levels combined with an annual review of the controls over key financial
systems should provide sufficient resources- in the event of adverse condrtions. The Ttustees have
also examined other potential operational and business risks faced by the company and confirm
that they have established systems lo mitigate any significant risks.
The Trustees, Report, incorporating a strategic report, was approved by order of the Board
of Trustees, as the company directors, on 28.10.2022 and signed on ils behalf by..
Jill Robinson MBE, Dr med vet hc, Hon LLD
Founder, CEO & Trustee
Page 7

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
ICONTINUEDI
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for
preparing the Trustees. Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards Iunited Kingdom Generally AC￿pted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of
the stale of affairs of the company and of ils incoming resources and application of resources, including ils
income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial stslemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufFicienl to show and explain
the company's transactions and disdose with reasonable accuracy at any time the financial position of the
company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other Irregularities.
Page 8

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANIMALS ASIA FOUNDATION
Opinion
We have audited the financial statements of Animals Asia Foundation (the 'charilable company'l for the year
ended 31 December 2021 which comprise the Statement of Financial Activities Ilncorporating Income and
Expenditure Account), the Balance Sheet, the Statement of Cash Flows and the related notes, including a
summary of significant accounting Fiolicies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally
Accepted Accounting Practi￿1.
In our opinion the financial statements..
give a true and fair view of the stale of the charitable company's affairs as al 31 December 2021 and of ils
incoming resources and application of resources, induding its income and expenditure for the year then
ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
8asls for oplnlon
We conducted our audit in accordan￿ with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charitsble company in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate lo provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitsble company's ability to
continue as a going concern for a period of al least twelve months from when the financial stslemenls are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going con￿rn are described in the
relevant sections of this report.
Other Informatlon
The other infomialion comprises the information included in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except lo the extent otherwise explicitly ststed in our report, we do not eXp￿sS any form of assursnce conclusion
Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the course of the
audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we a￿ reqUI￿d to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 9

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANIMALS ASIA FOUNDATION ICONTINUEDI
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Report for the financial year for which the financial statements are
prepared Is consistent with the financial statements.
the Trustees, Report has been prepared in accordance with 8pplie8ble legal reqU1￿MentS.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstslemenls in the Trustees. Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us lo report to you if, in our opinion..
adequate accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of Trustees, remuneration specified by law a￿ not made," or
we have not received all the information and explanations we require for our audit", or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies. exemptions in preparing the Trustees, Report and
from the requirement to prepare a Strategic Report.
Responslbllltles of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is ne￿SSary lo enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial slatemenls, the Trustees are responsible for assessing the charitable company's ability
lo continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease
operati'ons, or have no realistic alternative but lo do so.
Page 10

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANIMALS ASIA FOUNDATION ICONTINUEDI
Auditors. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslatemenl. whether due to fraud or error. and lo issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, oullined above, lo delect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detailed below..
In assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance
with laws and regulations, our procedures induded the following..
The nature of the sector, control environment and the Charity's perfomiance.,
Results of our enquiries of management and the Trustees, about their own identification and assessment of
the risks of irregularities.,
Any mallers we identified having obtained and reviewed the Charity's documentation of their policies and
procedures relating to.. identifying, evaluating and complying with laws and regulations and whether they
were aware of any instances of non-compliance.,
Detecting and responding lo the risks of fraud and whether they have knowledge of 8ny actU81, suspeeted or
alleged fraud",
The internal controls established lo mitigate risks of fraud or non-compliance with laws and regulations.,
The matters discussed among the audit engagement team regarding how and where fraud might occur in
the financial statements and any potential indicators of fraud. As a result of these pr0￿dUreS, we considered
the opportunities and in￿ntiveS that may exist within the organisalion for fraud, which included incorrect
recognition of revenue, management override of controls using manual journal entries, pU￿haSe ledger, and
identified the greatest potential for fraud as incorrect recognition of revenue and management override using
manual joumal entries.
We identified and obtained an understanding of the laws and regulations that are of significance to the Charity by
discussions with Trustees and by updating our understanding of the sector in which the Charity operated in.
Laws and regulations that are of direct significance lo the Charity and of which non compliance could result in
material misstatement are the Charities Act, Companie5 Act, Charities SORP and tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial stslements but compliance with which may be fundamental lo the Charity's ability to operate or to avoid
a material penalty. These included occupational health and safety regulations, data protection regulations, and
employment legislation.
Our procedures lo respond to risks identified included the following..
Reviewing the financial statement disclosures and testing to supporting documentstion to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial
statements.,
Reviewing the financial statement disclosures and testing to supporting documentation lo assess the
recognition
of revenue, in line with longer lemi Contract accounting methodologies.,
Enquiring of Trustees and management concerning actual and potential litigation and claims,.
Performing procedures lo confirm material compliance with the requirements of the above regulations",
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
of material misstatement due to fraud.,
Reading minutes of the Annual General Meeting.
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ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANIMALS ASIA FOUNDATION ICONTINUEDI
We also communicated relevant identified laws and regulations and potential fraud risks lo all engagement team
members and remained alert to any indications of fraud or non￿Omplian￿ with laws and regulations throughout
the audit.
Our audit procedures were designed lo respond to risks of material misstalemenl in the financial statements,
recognising that the risk of not delecling a material misstatement due lo fraud is higher than the risk of not
detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery,
misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the
further removed non￿mplIance with laws and regulations is from the events and transactions reflected in the
financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, Report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable
ompany's members those matters we are required lo stale lo them in an Auditors, Report and for no other
purpose. To the fLJllest extent permitted by law, we do not accept or assLJme responsibility to anyone other than
the charitable company and its members, as a body, for our audit work, for this reFX)rt, or for the opinions we
have formed.
Mark Munro FCA {Senior Statutory Auditor)
for and on behalf of
Blshop Fleming LLP
Chartered Accountants
Stslutory Auditors
2nd Floor Stratus House
Emperor Way
Exeter Business Park
Exeter
EX1 3QS
Dale..
31 October 2022
Page 12

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2021
Restricted Unrestricted
funds
fund$
2021
2021
Total
fund$
2021
Total
funds
2020
Note
Income from:
Donations and legacies
Other trading activities
Other income
411,748
3,547,327
4,566
7.589
3,959,075
4,566
7,589
2,987,025
24,534
31,572
Total Income
411,748
3,559,482
3,971,230
3,043,131
Expenditure on-
Raising funds
Charitable activities..
Payments lo Hong Kong
Public aWa￿nesS and education
Other charitable activities
other expenditure
1,118,749
1,118,749
520,830
411,748
1,980,418
302,123
8,292
2.783
2.392,166
302,123
8,292
2.783
2,132,399
104,505
9,870
5,227
Total expenditure
411,748
3,412,365
3,824,113
2,772,831
Net movement in funds
147,117
147,117
270,300
Reconciliation of funds:
Totsl funds brought forward
Nel movement in funds
582,084
147,117
582,084
147,117
311,784
270,300
Total funds carrigd forward
729,201
729,201
582,084
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 16 to 33 form part of these financial statements.
Page 13

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
REGISTERED NUMBER..04185603
BALANCE SHEET
AS AT 31 DECEMBER 2021
2021
2020
Note
Fixed assots
Tangible assets
14
12,943
4,239
12,943
4,239
Current assets
Stocks
Debtors
Cash al bank and in hand
15
16
2,017
583,056
273.797
1,248
221,811
446,147
858.870
669,206
Creditors.. amounts falling due within one
year
17
1142,612)
191,3611
Net current assets
716.258
577,845
Total net assets
729,201
582,084
Charity funds
Reslricled funds
Unrestricted funds
19
19
729,201
582,084
Total funds
729,201
582,084
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial slalemenls have been prepared in accordan￿ with the provisions applicable lo entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
J Robinson
Dale.. 28.10.2022
The notes on pages 16 to 33 form part of these financial statements.
Page 14

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Cash flows from operating activities
Nel cash lused inl I generated from operating activities
1172,350}
262,361
Cash flows from investing activitios
Purchase of tangible fixed assets
19991
Net cash provided byllused inl investing activities
19991
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
1172.350}
446,147
261.362
184,785
Cash and cash equivalents at the end ofthe year
273,797
446,147
The notes on pages 16 to 33 form part of these financial statements
Page 15

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
General infomiation
Animals Asia FoLJndation is a company limited by guarantee and is a consitiluted under a memorandum
and articles of association dated 5 April 2001. The company is also a registered charity. The principal
office is 17 Mary Seacole Road, The Millfields, Plymouth, PL1 3JY.
Accounting policies
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Animals Asia Foundation meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at fair value unless otherwise staled in the relevant accounting policy.
2.2 GOING CONCERN
The financial stslemenls have been prepared on a going concern basis. The Trustees have
assessed this basis with reference lo the unstable economic enironment in the UK and have deemed
the preparation of the financial statements on a going concern basis lo be reasonable due lo the
charity's sufficient cash reserves which can be used to fund activities for the foreseeable future.
2.3 INCOME
All income is recognised once the company has entitlement lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
The rec￿nitIon of income from legacies is dependent on establishing entitlement, the probability of
re￿Ipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the company has suffi'cient evidence that a gift has been left to
them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the
executor is satisfied that the propety in question will not be required to satisfy claims in the estate.
Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount lo be distributed lo the
company, can be reliably measured.
Other income is recognised in the period in which il is receivable and to the extent the goods have
been provided or on completion of the servi￿.
2.4 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that aclivily. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for ils
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Page 16

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
2.4 EXPENDITURE {CONTINUEDI
Expenditure on charitable activities is incurred on direclly undertaking the activities which further the
company's objectives, as well as any associated SUPFX)rt costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 FOREIGN CURRENCIES
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates
of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into slerfing al the rale ruling on the dale of the
transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £500 or more are capilalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measLJred reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any accumulated impairment
losses. All costs incLJrred lo bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the following basis..
Fixtures and fillings
Office equipment
25,/0 Slraighl line
25,/0 Slraighl line
2.7 STOCKS
Stocks are valued al the lower of cost and net realisable valLJe after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed
and variable overheads.
2.8 FINANCIAL INSTRUMENTS
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured al their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.9 DEBTORS
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
Page 17

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
2.10 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
2.11 LIABILITIES AND PROVISIONS
Liabilities are recognised when there is an obligation at the Balan￿ Sheet date as a result of a past
event. it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised al the amount that the company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.12 OPERATING LEASES
Rentals paid Ljnder operating lea*s are charged to the Statement of Financial Activities on a straight
line basis over the lease term.
2.13 PENSIONS
The company operates a defined contribution pension scheme and the pension charge represents
the amoLJnts payable by the company to the fund in respect of the year.
2.14 FUND ACCOUNTING
General funds are unreslricled funds which are available for use at the dI￿retIon of the Trustees in
furtherance of the general objectives of the company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set OLJt in the notes lo the financial
statements.
Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes lo the financial statements.
Page 18

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT
Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable Ljnder the
ircumslances.
Critical accounting estimates and assumptions..
The company makes estimates and assLJmplions con￿MIng the future. The resulting accounting
estimates and assumptions will. by definition, seldom eqLJal the related actual results. The eslimales and
assumptions that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are discussed below.
Legacies
Legacy income is recognised Ljnder the criteria of Entillemenl, Probability and Measurement. It is accrued
for once all of this criteria has been met.
Income from donations and legacies
Restricted Unrestricted
funds
funds
2021
2021
Total
funds
2021
Total
funds
2020
Donations
Legacies
Gift aid
411,748
2,777,834
407,159
362,334
3,189,582
407.159
362.334
2,492,798
206,566
287,661
411,748
3,547,327
3,959,075
2,987,025
TOTAL 2020
303,842
2,683,183
2,987,025
Income from trading activities
Income from non charitable trading activities
Unre$tri¢ted
funds
2021
Total
funds
2021
Total
funds
2020
Trading income
4,566
4.566
24,534
TOTAL 2020
24,534
24,534
Page 19

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Other incoming resources
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Unrealised foreign exchange gainl Ilossl
Compensation re￿iVed
Covid-19 grants
1,014
6,575
1.014
6,575
11,0091
1,444
31,137
TOTAL 2021
7,589
7,589
31,572
TOTAL 2020
31,572
31,572
Expenditure on raising funds
COSTS OF RAISING VOLUNTARY INCOME
Unrestricted
funds
2021
Total
funds
2021
Total
fvjnds
2020
Fundrasing and promotions
Estsblishmenl expenses
Legal and professional fees
370,905
75,852
10,701
370.905
75,852
10,701
185,025
34,318
14,323
p iii
Bank and handling charges
Sundry expenses
Travelling
Printing postage and stationery
Wages and salaries
National Insuran
42,063
6,739
347
46,352
462,173
80,323
18,590
4,657
42.063
6.739
347
46,352
462.173
80.323
18,590
4,657
37,047
3,038
1,536
48,055
162,840
25,111
6,130
4,015
Pension costs
Depreciation
TOTAL 2021
1,118,702
1,118.702
521,438
TOTAL 2020
521,438
521,438
Page 20

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Expenditure on raising funds Icontinuedl
OTHER TRADING EXPENSES
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Expenditure on fvndraising
47
47
16081
TOTAL 2020
16081
16081
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2021
2021
Total
2021
Total
2020
Charitsble activities
411,748
2,290,833
2,702,581
2,246,774
TOTAL 2020
303,842
1,942,932
2,246,774
Summary by expenditure type
Stsff costs Other costs
2021
2021
Total
2021
Total
2020
Charitable activities
302,123
2,400,458
2.702.581
2,246,774
TOTAL 2020
104,505
2,142,269
2,246,774
Page 21

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Other expenditure
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Realised exchange losses
2,783
2.783
5,227
TOTAL 2020
5,227
5,227
10. Analysis of charitable expenditure by activities
Activities
undertaken
directly
2021
Support
costs
2021
Total
funds
2021
Totsl
funds
2020
Direct costs
2,694,289
8,292
2,702,581
2,246,774
TOTAL 2020
2,236,904
9,870
2,246,774
Analysis of direct costs
Total
funds
2021
Total
funds
2020
Activities
2021
Public awareness and education
Programme payments to Hong Kong
302,123
2,392,166
302.123
2,392.166
104,505
2,132,399
2,694,289
2,694,289
2,236,91)4
TOTAL 2020
2,236,904
2,236,904
Page 22

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
10.
Anatysis of charitsble expenditure by activities Icontinuedl
Analysis of support costs
Total
funds
2021
Total
funds
2020
Activities
2021
Governance costs
8,292
8.292
9,870
TOTAL 2020
9,870
9,870
11.
Auditors. remuneration
2021
2020
Fees payable lo the Company's auditor for the audit of the company's
annual accounts
8,292
7,460
12. Staff costs
2021
2020
Wages and salaries
Social security costs
Operats'ng costs of defined benefit pension schemes
764.296
80.323
18,590
267,345
25,111
6,130
863,209
298,586
The average number of persons employed by the company during the year was as follows..
2021
No.
2020
No.
27
Page 23

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
12. Stsff costs (continuedl
The number of employees whose employee benefits (excluding employer pension costs) exTreded
£60,000 was..
2021
No.
2020
No.
In the band £60,001- £70,000
In January 2019, the UK office merged with the European offices lo improve efficiences, splitting the UK
resources across both markets. This included splitting the employment time of the Director, the Head of
Supporter Care and the Supporter ca￿ team in Plymouth. All costs sil within the UK market.
Remuneration and benefits received by key management personnel lotslled £74,07012020.' 71,8131.
13.
Trustees. remuneratlon and expenses
During the year, no Trustees re￿iVed any remuneration or other benefils12020 - £NILI.
During the year ended 31 December 2021, no Trustee expenses have been incurred12020 - £NILI.
Page 24

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
14.
Tangible fixed assets
Fixtures and
fittings
Office
equipment
Total
COST OR VALUATION
At 1 January 2021
Additions
4.513
21.258
13,375
25,771
13,375
At 31 December 2021
4,513
34,633
39,146
DEPRECIATION
At 1 January 2021
Charge for the year
4.499
14
17.033
4.657
21.532
4,671
At 31 December 2021
4,513
21,690
26,203
NET BOOK VALUE
12,943
12,943
At 31 December 2021
At 31 December 2020
14
4,225
4,239
15. Stocks
2021
2020
Finished goods and goods for resale
2,017
1,248
16. Debtors
2021
2020
DUE WITHIN ONE YEAR
Trade debtors
39.164
721
86,950
Amounts owed by Hong Kong and other Animal Asias,
Other debtors
1,695
541.476
1,695
133,166
Prepayments and accrued income
583.056
221,811
Page 25

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
17.
Creditors: Amounts falling due within one year
2021
2020
Amounts owed to Animal Asia Germany and Italy
Other creditors
Accruals and deferred income
15,066
77,314
50.232
17,745
26,744
46,872
142.612
91,361
18.
Financial instruments
2021
2020
FINANCIAL ASSETS
Financial assets measured at fair value through income and expenditure
273,797
446,147
Financial assets measured at fair value through income and expenditure comprise cash and cash
equivalents.
Page 26

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
19. Ststement of funds
ststement offund¥ - current year
Balance at
31
December
2021
Balance at 1
January
2021
Transfers
inlout
Income Expenditure
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Designated Funds
487,929
21.324
509,253
GENERAL FUNDS
General Funds
94.155
3.559.482 13.412.365)
{21.324}
219.948
TOTAL UNRESTRICTED
FUNDS
582,084
3,559,482 I3,412,3651
729,201
RESTRICTED FUNDS
End Bear Bile Farming
Cal and Dog Welfare
Captive Animal Welfare
316,104
72,768
22,876
{316.1041
72,7681
22,8761
411,748
{411,7481
TOTAL OF FUNDS
582,084
3,971,230 13,824,113)
729,201
Page 27

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
19. Ststement of funds Icontinuedl
DESIGNATED FUNDS
These fvnds have been designated by the trustees towards future programme payments to Hong Kong.
RESTRICTED FUNDS
End Bear Bile Farming - Animals Asia works to end the barbaric bear bile trade, which sees over 10,000
bears, mainly moon bears bul also sun bears and brown bears. kept on bile farms in China. and around
300 bears in Vietnam. In 2017, the Vietnamese Government signed an agreement with Animals Asia lo
bring bear bile farming to an end by 2022.
Cat and Dog Welfare - Animals Asia works lo end the trade in dogs and cats for food in China. We
support over 150 local organisations across China, financially and through skill sharing, to improve the
welfare of companion anima15 and promote humane population management.
Captive Animal Welfare
Animals Asia campaigns for an end lo abusive animal practices in zoos and
safari parks in China, and works closely with governing authorities to improve animal management and
increase awareness of the welfare needs of captive animals.
A transfer had been made from designated general funds to general funds lo help with the day to day
running costs of the Charity.
Page 28

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
19. Ststement of funds Icontinuedl
ststement of funds - prior year
Balance at
31
DeTrmber
2021
Balance at
1 January
2020
Transfers
inlout
Income Expenditure
DESIGNATED FUNDS
Designated Funds
233,691
254,238
487,929
GENERAL FUNDS
General Funds
78,093
2,739,289 12,468,989)
1254,2381
94,155
TOTAL UNRESTRICTED
FUNDS
311,784
2,739,289 12,468,989)
582,084
End Bear Bile Farming
Cal and Dog Welfare
Captive Animal Welfare
289,864
12,978
1,000
1289,8641
112,9781
11,0001
303,842
1303,8421
TOTAL OF FUNDS
311,784
3,043,131
12,772,831)
582,084
Page 29

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
20. Summary offunds
Summary offund¥ - current year
Balance at
31
December
2021
Balance at 1
January
2021
Transfers
inlout
Income Expenditure
Designated funds
General funds
Reslricled funds
487,929
94,155
21.324
121,324)
509,253
219,948
3,559,482 13,412,365)
411,748
{411,7481
582,084
3,971.230 13,824.1131
729,201
Summary offunds - prior year
Ba18nce at
31
December
2021
Ba18nce at
1 January
2020
Transfers
inlout
Income Expenditure
Designated funds
General funds
233,691
78,093
254,238
1254,2381
487,929
94,155
2,739,289 12,468,989)
303,842
1303,8421
Reslricled funds
311,784
3,043,131
12,772,831)
582,084
21. Analysls of net assets between funds
Anatysls of net assets between funds - current year
Unrestrlcted
funds
2021
Total
funds
2021
Tangible fixed assets
Current assets
Creditors due within one year
12,943
858,870
1142,6121
12,943
858,870
{142.6121
TOTAL
729,201
729,201
Page 30

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
21.
Analysis of net assets between funds l¢ontinuedl
Analysis of net assets between funds - prior year
Unreslricled
funds
2020
Total
funds
2020
Tangible fixed assets
Current assets
Creditors due within one year
4,239
669,206
191,3611
4,239
669,206
191,3611
TOTAL
582,084
582,084
22.
Reconciliation of net movement in funds to net cash flow from operating activities
2021
2020
Nel income for the year las per Statement of Financial Aeliviliesl
147,117
270,300
ADJUSTMENTS FOR:
Depreciation charges
Ilncreasel in stocks
Ilncreasel in debtors
Increase in creditors
4,672
{769}
1361,245}
51.251
5,131
17221
148,7631
36,415
NET CASH (USED INIIPROVIDED BY OPERATING ACTIVITIES
1158,974}
262,361
23.
Anatysis of cash and cash equivalents
2021
2020
Cash in hand
273.797
446,147
TOTAL CASH AND CASH EQUIVALENTS
273,797
446,147
Page 31

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
24.
Anatysis ofchanges in net debt
At1
January
2021 Cash flows
At31
December
2021
Cash at bank and in hand
446,147
1172,350)
273,797
446,147
1172,350}
273,797
25.
Penslon commltments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately
from those of the group in an independently administered fund. The pension cost charge represents
contributions payable by the group lo the fund and amounted to £18,590 12020.. £6,130). Contributions
lotalling £nil12020'. £nill were payable lo the fund at the balance sheet date.
26. Operatlng lease commltments
At 31 December 2021 the company had commitments lo make future minimum lease payments under
non-cancellable operating leases as follows..
2021
2020
Not later than 1 year
Later than 1 year and not later than 5 years
4.584
4.553
4,584
6,504
9,137
11,088
27. Rolated party transactions
During the year the charity made donations of £2,392, 166 12020.. £2,132,3991 to Animals Asia Hong
Kong, en entity with which the charity works closely. Al the year end, no balances were owed by Animals
Asia Hong Kong to Animals Asia UK.
Page 32

ANIMALS ASIA FOUNDATION
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
28.
Legacies Held in Trust
The Charity is beneficiary to multiple legacies for which they are entitled to a residuary of the balance held
in trLJSt. At the balance sheet date. the amoLJnl receivable cannot be reliably measured, and therefore no
income has been recognised in the Statement of Financial Activities for the year. There are contingent
assets of £117.896.
The Charity is also a joint beneficiary with 12 other charities of the estate of the late P Woods. Currently
there is a life lennant who receives the income from the estate. Al the 3 May 2018 the estate was valued
at £718,895, subject to a reconcillialion of the income paid to the life lenanl for the year ended 5 April
2018.
The Charity is also joint beneficiary to the estate of the late M McNeil. Currently there is a life tennanl who
receives the income from the estate. As of the 1 May 2019 the Charity's share of the residual interest was
valued at £35,000.
Page 33