Official COMPANY MBER: 06035040 CHARITY ILJIBER: 1118277 ILYTEIiN.4TIO)AL A&lTrt4L RESCL',E (LINIITED BY GLAIL&NTEEI REPORT OF THE TRLSTEES AliD Flll LNCIAL STATEML ENI TS FOR THE YEAR ENT>ED 31ST DECEMBER 2023 Dedieated to tbe rescue rehabiiitstion ofsulTering aDiTnals wwTrTr'.iDlerDationalanimalrtgeue.o
INTEILNATIONAL ANT%IAL RESCLE (LINIITED BY GLAliNTEE) REPORT OF THE TRLSTEES AJD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 CONTENTS Page Legal and administrative information Report of ihe trusiees 2-12 Report of the independent auditors 13-16 Statement of financial a¢tivities 17 Income and expenditure account 18 Statement of comprehensive income 18 Balance sheet 19 Cash flow statement 20 Notes to the finan¢ial slatements 21-33
INTERNATIONAL ANI.MAL RESCUE (LIMITF.D BY GUARth'TEE) LEGAL AYD ADMINISTRATIVE INFORMATION Registered company number: 06035040 Regigtered charity number: 1118277 Trusteeg: P G Bennen M.A. (HonsKCanthb) Dip.Ed. (NL)- Chair P Cassar BS¢(Hons) BDS A Bruce A Matro Roman President: A Knight OBE BS¢(Hons) Chief Executive: G Bruce HeAd of FinAnce: DRap Registered Office: Lime House Regcnc), Clos¢ Uckfield Ea5l Sussex TN22 1 DS StAtulory Auditors: Clark Brownscombe Limited Chartered Accouniants & Ststutory Auditors 2 St Andrem's Place Lewes East Sussex BN7 IUP Princip*l bankers: The Co-operative Bonk pl¢. 24? Iligh Sireel Excter EX4 3QB Investment Advisors: Rathbone Greenbank Investments l O Queen Square Bristol BSI 4NT Page: I
INTF.ILVA TIOYAL AIYIMAL RESCUE (LI,MITED BY GL'ARANTEE) REPORT OF THE TRLTSTEF.S FOR THE YEAR ENDF.D 31ST DECEMBER 2023 The Trustees have pleasure in prcsenting their annual report and finan¢ial sthtements for the year endcd 3 1st De¢¢mber 2023. In 2023, International Animal Rescue (IAR) nai"igated a )'ear of resilience and innovation amid51 global economic ¢hall¢nges. Despite the ongoing macro-cconomic challenges: we remained steadfast in our Tnission to prote¢t animals and conserve habiiais. Kc!. highlights include the succcssful release of orangutans likc Budi in Borneo and ihe complelion of ihe Sir Mi¢ha¢l Uren Wildlife Rescue and F.ducation Centre in Costs Rica. These achievements underscore our adaptability. and the unli.aerIng dedication of our staff and supporters worldwidc. A5 we present this repory w'e are proud of the tangible diffenceS wc have made and remain committed to our vision ora world where humans and animals coexist in 5uslainabl¢ OSYStems. Structure Inlernational Animal Res¢uc (IAR) is a compan! limiied bN guarantee and a registered charity. It is governed by its Memorandum and Articles of Association dated 21si Dec¢mber 2006. The Trustees of thc charitable company are its trustees for the purposes of Company Law. Throughout this report ihey are ¢olle¢iivel)' rcferred to as Trustees. Legal and administraiivc inforniation set out on page I fornis part of ihis report. Th¢ financial statcm¢nts ¢omply with ¢urr¢nt siaiulOTI' rcquircmcnts. thc Mctnorandum and Articles of Association, the Companies Act 2006 and Ac¢ouniing and Reporting b), Charitics= Statcmcnt of Recommended Practice applicable to charities. History and Forniation ofinternational Animal Rescue (Limited bv Guarantee) On I s( January ?008 the n¢1 255¢15 of Iniemaiional Animal Res¢u¢ (-Thc -fillycr Foundation) wcre transfcrrcd into rhe company whose new charil)" number is 1118277. Intemaiional Animal Rescu¢ was originally register¢d with ihe Chariiy Commission in 1989 under charity number 802132, which be¢ame dorn)an¢ after Ihe ¢han8e in structure in Januat), 2008. Recruitment of Trustees In accordance 'Ith thc Articles of Association, the numbcr of trustees shall be no les5 than three and nol subjcct to any m&xitnum. New trustees may be appointed bv ordinarv resolution. Every new trustee shall sign in the minule book a declaration of acceptance and of M'illingness io aci as a trnsiee of the Chariry. Trustees are recruited as required or ,hen a particular skill gap is tdentified. Truslee5 are selected based on what they Can contribute to the Chariis.. Trusiees need to be prepared to tske an activc part in thc running of the Charily and therefore need to be able - and willing - to give time to the efficicnt administration of th¢ Chariiy and the fvlfilment of its objeciives. Prospective tnjstees are required to consider .ether thcrc would b¢ any possibl¢ conflicts of interest if they were to be appointed as a triistcc. It is parlicularls. IMnant that the individual 15 frce to make a full contribution to ihc tru5tccs' di5CU55ions and decisions. When recruiting ncw Chariiy trustees. the existing trustccs ensure ihey undersland the purposes and aitns of the Charity, a5 w'ell as their broader duties and rc5ponsibililies as irusiees so that the! are able to explain to prospective Irustees what is required of them. Pagc.. 2
lTENATIo1%AL A.N IMI AL RESCUE (LLMITED BY GUARANTEE) REPORT OF THF. TRL'STEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Org•nisation and Management In tern)s of organisalional slructure the Trusi¢¢s are r¢sponsible for the strategk¢ direction of the Charity, governance and charting perfornian¢e against thc budgct h1¢ is prepared annually. Ini'¢stmeni decisions regarding the funds of the Charii). and d¢eisions regarding expansion inio new terrttories ar¢ made by thc Trustees. The Chief Execulive 15 responsible for the da)'t(Hlay operational managemeni of the Charity, reporting on progress io the Trusiees at ihc schcduled Truslees. mcctings. If there are extraordinary issues that nc¢d to be brought to the arteniion of the 'fruslces. cxtra Tncctings arc scheduled as required. The Chief Exe¢uiive is responsible for maintaining relaiion5hips 1% ith partncr charities. staff management. recommending projects to the Trustees and annual financial perfom)ance. The Chief Ex¢cutiv¢ is supp)rted by a small managemeni team who are responsible for fun¢iional areas within the Charity. These functional heads provid¢ periodic repons for the Trustees. A11#te$ and Partners International Animal Rescue is affiliaied and provides funding to severdl other independent groups.. Yayasan IAR Indonesia (YIARI) runs primate rescue and rehabiliiation ¢enty¢s in Java and Borneo. Indoncsia. Internalional Animal Rescue Costa Rica runs our wildlife protection effort in Costh Rica. Iniemaiional Animal Rescue US and Siichting International Animal Rescue {Netherlandsl scrve the North American and EU ierriiories respectivel}, with education and information r¢lating io the projects that International Anilnal Rcs¢ue suppons. As a group. the independent International Animal R¢b¢ue Charities shar¢ common goals and objectives. In addition io the a1]late group. International Animal Rescue also works very closely with several International partner organisations a5 follows: Wildlifc SOS (India) who are restM)nsible for the Dancing Bcar Projec( in India. Catsstrophes Cat Rescue, .hICh proTr'ides care for older and unm'ell cats in ihc UK; FPWC (Amienia) 'hO rescue and rehabilitat¢ S)Tian Brow'n Bears in Arnienia. British Divers Marine Life Rescue (UK)- East Sussex Wildlif¢ R¢5cu¢ and Ambulance Service (UK), Animal Protection Agcnc)' APA (UK)- Friendi¢o¢s SECA (India). Risk MngemeDt The Trnstees haN'e prepared a risk assessment docutneni for the Charity. This covers risks regarding data. coniinuity. succession and liability. The trustees review the major risks io which ihe Charity is exposed on a regular basis and systems are implemented whenever p05sibl¢ io mitigate these risks. The Trustees believe that there is a satisfactory SyStcm of inlernal controls which are also r¢viewed on a regular basis. Objectives Intemational Animal Rescue works w'ith expert affilÈaie and partner groups on projects thal will Tnake a signifi¢ani impact on animal '¢]fare and con5¢rvaiion issues. The Charity engages with local and national govcrnmenls internationally, as support from the sthie combined with efforts on the ground gives the various projects the besi chance of sUCC¢SS. For the bcnefit of the public to- (a) relieve the suffering of anima15 in need of care and attention and to provide rescue facilities for the reception, Care, rehabililation and reintr(Kluction back into the wild of su¢h animals. Pag¢= 3
INTEILNATIOINAL ANIMAL RESCUE (LLMITED BY GUARANTEE) REPORT OF THE TRLTSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 (b) protnote the conservation. protection and improvement ofthe physical and natural environment and support Ihe development of sustsinabl¢ ecosysiems. International Animal Rescue works with expert affiliale and partner groups on projects thal will make a Significant impact on animal W'elfa and cons¢Th'ation issues. The Charii), engages with l(Kal and national govcrnments intcrnationall),, as suppon from the slate combined with efforts on the ground gives the various projecis the besl chancc of success. The ttkain objectives for 2023 were- Develop holisti¢ mitigation Siratrgies io proieci wildlife. habitats and the naturdl environment: Work 1th Wildlife SOS (India) to providc safe sanctuary for the rescued dancing bears in India and continu¢ to res¢u¢ bears thai are ihreaiencd- Support thc rchabilitation and release progrdm of macaques in Indonesia: Work to mitigate the illegal pet trade in Indonesia as w'ell as continue the rescue, rehabilitation and release of the slow loris- Continuc and monitor the orangulan rclcas¢ progrnmme- Continue the Great Bear Rescue progrdmme for Arnienia: Finalise ihe ¢onstru¢iion of the nem. Wildlife Rescue and Education Centre and continue to develop our wildlife proteciion strategies in Cosia Rica- Continue to support Cata5trophcs Cai Res¢u¢ in ihe UK. Continue to sustainably grow the UK charit). in an efficient manner. In¢asIng fundraising capacity with minimal increase in overhead. Develop digitsl 5UPPOrtcr siraiegies 10 reflect the importance of digital media and social ne(works. Public Benefit In consideralion of The Charities Act 2011 definilion of ¢haritsble purwse- the Trustees of Intcrnational AniTnal R¢s¢u¢ consider that the objectives and aclii'ities of Ihe Chariry are for the public bcnefit by supporting the advancement of animal welfarc. In Setting the programme each year the Trustc¢s have regard to both the Charity Commission s gencral guidan¢¢ on public benefit and the advancement of animal welfare for the public benefit. Thc Trustees alwass ensure ihai ihe programme5 undcttsken are in line with ihe charitablc objcctivcs and aims. The activiiies, which are described in more detail in a separate section below. cover thc following charitable purposes for publi¢ b¢nefit- promoting kindnes5 and to prevent or suppress cruelty to animals; building and funding anitnml san¢tuari¢s in the UK and overseas. provision of veterinary care and trcatsneni anim315' care and re-homing of animals that are abandoned, mistreated or105t: Conservation of endangercd wildlif¢; mitigation strategies of the illegal wildlife trade; spaying and neuiering projects for feral animal control- rescue, rehabiliiation and release of wild animals- and consetving habitsts and protecting thc naturnl environment. Page: 4
INTEIiNATIOWAL NIMAL RESCLE (LIMITED BY GLIAIL4NTEE) REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Review of ACtiTrities This seaion pro ides an oi'en'iew of the I'arious programmes that are supwrted bTr' Ivtternational Animal Rescue. At International Animal Rescue, our '1s1O is of a world where humans and animals coexist in sustainable ecosystems. The ieam see first-hand the impact of huTnan acti¥'it%' and climate change on precious e¢os>'stems. Habiiat Ioss is Otte of the most ¢riii¢al factors impacting biodi%ersits". One of the biogest threats io the suTr'ival of other species on the planet is ihe raie ai Mhich humaniTh is transforn)ing the natural landscape. through building roads and cities. and Coni erting land to gro food. IAR"s mission is to build awareness and put effe¢tiv¢ systems in place so th habithts and animals are protecied. EcoDomic Backdrop In 2023. our tnain challenge has continued io come from the impacts of the Russo-Lkraine W'ar. From an income persp¢ccie. the c05t of lii.ing crisis as a resuli of the *ar ha5 ifftpacted the disw)sable income of our donor base. as rising bills and interest rdtes hai'e reduced the disposable inCOTne of a large portion of the public. From a projeci perspective. there has been a direct impaci on all of the projects thai we SUPTKYrt. Inflation around the world has drii'en increases in nearlN" all projeci cost areds. including siaff costs, animal food, and utilities to name a few example5. Thankfully. these challenges appear to be easing as we mol'e into 2024. Inflation has started to return to a more nomial level. leading to speculation of int¢r¢st raie ¢uis in ?0?4. This has alread)" had a small posilive impact on our investments. hICh are hea11. influenced b) high interesi rates. As w'e see signs of these challenges ¢asing. e remain i igilant to further macro-e¢onomi¢ risks. but remain positive for the coming }'ear. The Trusiees of IAR are immensell" grateful to all the SEaff and fvolunteers ai our projects for their continued efyorts in protecting animals and habitsts in such unprecedented conditions. and to our supporters who haNe stood b). us during this challenging time. Conseryation li is clear th the Combined rhreais of ¢limate change. biodiiersitN" loss and the spill oi'er of pathogens from 'ildlife to people PSen1 an exisieniial threat to humaniTh. IAR"s aH'ard-Inig environmental and conservation programme. IAR¢onseTh"es aims io iackle these threats bv adopting a holistic 'One-Health' straiegy. IARconserves IAR has focused on des'eloping local. grassroois. nature positii'e strdte£ies "hich. w.hen scaled up. hafve a much more tneaningful impact. The uliimaie goal is for lId[ife to be liN inq safel)" in sustainable ecosj'stems and for COrnTnunities be h¢althi and prosperous. IARconserves is centred around WOTking alongside local communities in Indonesian Borneo who are best placed io ideniifv issues and implement solution5. The work selects from a tLK)Ikit of initiatiics that hav¢ deN'eloped and tested oler man! )ears. This means that we can implem¢ni tailored solutions at the village Icvel thai deliver tangible outcomes for people and n&ure. Page.. 5
INTEIiNATIOYAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRLSTEES FOR THE YF.AR F.JDED 31ST DF.CEMBER 2023 Over many years. With ils parThers and alI]ateS. IAR has developed holistic, community based miligTation programmes which, when combincd. hai'e a tangible benefit to the sutvi¥'al of spccies. The Conservalion strategies are closely aligned io thc UN'S Sustainable De%'elopmcnt Goals {SDGs). These include.. reducing illegal wildlife Irade; forest patr(Ils to reduce the risks from fire and illegal loggin& sustainable land use sirategies; reforestation and tre¢ planting; mangrove rcstoration; deep peat protcction and resloraiion. working with local communities on praciical solulions io reduce human impact. such as alternative livelihoods. community enterprise. schooling and scholarships. organic farniing and f¢mal¢ empow'cmient: reintroduction into the wild of endan8ered wildlife io rebuild threa*ned populations. human_wildlife conflict miiigation. In March 2023, to mark International Women's Day. we hi8hlight¢d th¢ amazing work of The Power of Mama - the firs(-ever group of femalc volunteer firefighters in Borneo. The Power of Maina is a community- led initiative supported by YIARI. IAR'S partner organisation in Indonesia. which is inspiring local womcn lo play an active rolc in forest protection and fire prcl'ention. Fires are one of the biggest risk5 to the rainfor¢st and to the survival of the critically endangered ordnBulan. YIARI'S long-lerni goal is to provide these inspirational women with the support and the tools lo build lonB-la51ing, meaningful career5 in conservation. Orangut¥n Consenalion SinLL ?009, IAR'S Indon¢sian partner. YIARI. has had an agreement with ihe Indonesian Ministry or Environment (KLIIK) to rescue and rehabilitale the critically endanger ornn8uians ofwestem Ilorn¢o. -l-he IAR Orangutan Rescue and Rehabilitation Ccnirc in Wc5t Kalimanthn is the hub for th¢ oran8Utan conservation effort. The work carricd out 15 in partncr5hip w'ith th¢ KLI IK and divisions of ihe Nalural Conservation Agcncy BKSDA. The ultimate goal is to kccp orangulans in the wild and prolect habitats such that they are not displaced and do not need to go through thc rcscue. rchabiliiaiion. release proce55. Due lo ihe succc55 of YIARI'S lon¥-l¢rni holistic mitigation stratcgie5, the number of oran8Utans being rescued has reduced ¢onsid¢rably. IAR and YIARI are developing holislic proj¢ct5 Ihai engage gov'ernment authorities. local communiiics and comm¢rcial businesses to dei'elop sustainablc projccts Ihat prolect species and habitats. thus prevcnting biodiversiiy loss and reducing greenhouse gas emissions. Although peatlands cover less than 30/0 of global land surface. estimates suggesi that p¢atlands contain twicc as much carEx)n as the world'5 forcst5. and so peatland conservation is crucial to sioring carbon. Mainlaining hcalih>" pcatland5 also helps to lessen the impact of climaie change by regulating waier flows, redu¢ing flooding. droughts and fires. YIARI is working io conserv¢ deep peat forcsts, which ar¢ lh¢ habitat of some of thc world's mosl important species, including orangutsns; this has the double benefit ofprotecting biodiversity and combating climate Change. YIARt ha5 implemented a funded management plan to protcct a l 00,000 acre deep peat forest. home lo cl.000 wild oranguthn& which was threatencd by fire, ill¢8al logging or conversion. Page= 6
INTERNATIONAL ANIMAL RESCUE (LIMITF.D BY GUARknYTEE) REPORT OF THE TRL'STEES FOR THE YEAR E.NDED 31ST DECEMBER 2023 During th¢ year. after being rescued in tk¢¢mbcr ?014 and )'ears of rehabilitsiion. Budi. a wnalc orangutan. 'as rclcased back into his rightful home - the H ild. Budi s triumphant return io the wild is a testamcnt to the unwavering dedicalion and collabordtion betm'een goi'erntncnl authorities, NGOS, local communiiies, and corporations committed to Cons¢ing Bornean orangutan w>pulations. Budi was rele&sed inlo Bukit Baka Bukii Raj'a Naiional Park along with five other orangutans in June 2023. The release operation started out from YIARI s rehabiliiaiion centre in Kctapang on 22 June and took four da),5 of travel and trekking through the jungle to the release siie. The location in the Naiional Park was chosen because the condition of the foresi li'as in accordance w'ith the habitat oranguthns need, as .¢1] as the abundance of Irces that would proi'ide enough food for ordngutans. The release site was remote and look a long lime io reach, w.hich although providing challenges. mcant it would provide excellent security for the released orangutans. Illegal Wildlife Trade In recent )'ears the impact of the illegal wildlife trade on species has reached unprecedented levels. It is estimated to be worth up lo $23 billion a )'ear and r¢pr¢s¢nts a ihreai io ihe very ¢xisience of some of our best- loved species including rhinos. tigers. elephants and pangolins. Urgeni action is needed to address this crisis, to help countrics control poaching on the ground as ¢11 as io take sieps io reduce the demand in consumer countries which is ultitnalely driTr'ing th¢ trade. IAR is part of a coalition of I l aniTnal proieciion groups, Asia for Animals s(la[ Media Animal Cruelty Coalition ISMACC). .hICh in ?023 produced a nem, port on the suffering of pet macaques for social media content. Between September 2021 and March ?013. SMACC recorded 1226 content links froJn Facebook, Instsgram, TikTok and YouTube. shO.1ng macaques kept as pets. The content ranged from s¢¢mingly 'innocent" treatment to the violcni and grnphic tonure ofmacaques and collectielY had over 12 billion views. Amongst other hOl[.1g discoveries, Ihe rep)rt found that 6/0 of the links showed pet macaques being directly physically abused. SMACC is calling on so¢ial media platfornis to rcstri¢i ¢onieni which shows macaques a5 pets, and to lake proactive measur¢s to remove content shoiN'ing their abuse. Social media users are cncournged io not watch or cngag¢ with such content, but instead rcport ¢nJelt)' content to Ihe platform5. Slow Loris Con5en'ation Iniernational Animal Rcscue Indonesia operates one of ihc only dedicaied rescue and research cenires for the slow loris, a critically ¢ndang¢r¢d noctUrn31 pritnal¢. The IAR Primaie Rescue and Rchabiliiation Centre is located near Bogor in Java. Most of the animals at thc ¢enire ha¥'e been confiscated froTn the ill¢gal exotic pet trade. Little is known aboui th¢se primates. rescarchers and students from various universities work witli the IAR team to conduci studies inio habitat. dieL IKhaviour and ecology. A release programme has b¢en implemented whereby rcleased animals are moniiored in the wild using rddio tracking equipment. IAR has an actil'e Wildlife Proie¢lion Team. This unit investigates the illegal pei tyad¢. including the trade in slow lorises. It 15 a collaboration M'ith the polic¢ ond Minisin. of Forest and Cons¢nJation. Whenevcr possible. the teatn gathers evidence to ensLbrc successful lam. enforccmcnt and. when appropriatc. prosecuiion. In April 2023, 1 O lorises Ns'ere released back into the w'ild after their rehabiliiaiion. These slow loris¢s had been handed over by residents around Wesi Jai'a to ihe authoriiies in 2022. The slow lorises ere Cared for at the YIARI animal rehabiliiaiion Centre in W'est Jav& M'here theN' und¢rweni medical treatment and a rehabilitation process before b¢ing returned io iheir naturdl habitai. Pagc.. 7
INTF.tLNA TIONAL ANIMAL RESCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDF.D JIST DECEMBF.R 2023 Indian Danein% Bear Project International Animal Rcscue has been working with its panner Wildlife SOS (an Indian charity) since 2002 on a project Ihai ended the trade of dancing bears in India. The partnership has buili up 3 sanciuaries across India to ac¢ommodate ihc rescued 'dancing' bears: in addition, a community programme has been devised to support the Kalandar people who once relied on the kars for their income. During 2023, IAR provided £452k of funding to this project. The Kalandar people have had vocational iraining and financial support lo establish ihem into new profcssions. In addition. the communities are supportcd lIh schooling and education such ihai they may have a brighter future. IAR has an ongoing commiimenl to provide the best possible care for the 173 rescued bears {as of ihe end of the yearl for the rest of iheir lives. The financial commilmenl lo the bears is significant a5 the food, ¢nri¢hmenT, veterinary and medical expenses are considerabl¢. C41 Rescue IAR supported Catastrophes Cat Rescue in ?0?3. whi¢h offers a 'lasi chance reflbgc for oldcr cats thal it would otherwise bc ditTicult to firkd a homc for. Wh¢n cals arrive. Ihey may simply have problems with their dict or pcrhaps have an underlyin8 healih problem thai needs aiiention. All Ihc cais rcccive expert velerinary care. I'here is 8 small vclerinary surgery on sile wher¢ simple pr(K¢dures can be adminisiered. As cats grow c)Idcr the>. oftcn suffcr from dental diseas¢ w'hich Can make ihcir lives miserable. Icading io a rapid loss of condi(i0i) as (hey find il ditTiculi io cal. The daily routine of cleanin& feeding and medication continued through thc year thanks io Catsstrophes, dedicated group of carers. C051A Riea- Howler Monkeys IAR Cosla Rica is located on the Pacific Coast in the town of Nosara and 15 ddi¢at¢d to prol¢¢tin8 wildlif¢ in Costa Rica. with particular attention lo Howler Monkeys. The main issue in and around Nosara is wildlife electrocuiion. Due io uncontrolled residential developinent. the Irecs are bein8 r¢moved and ov¢rh¢ad electri¢ cables are bein8 inslalled. The monkeys use the cables as r¢plac¢m¢nt arboreal roui¢s. Unfortunaicly. in manv situations. Ihe electrical apparalus is not insulated and ihe monkeys suffer from electrwution. Very often. the adults are severely injured or killed outright: howcvcr, somelim¢s, Ihe infants (w'hich cling to their mothers) can survive. After emergency medical aid. Ireatment and a Icngthy proccss ofrehabiliialion, Ihe aim is to r¢lease small troops of young adults back into the wild. Thc IAR C05ta Rica team continues io Ork th.iih the authorities lo defvelop strategics for mitlgation and prevcntion. The ongoing collaboraiion between MINAEISINAC, the electriciN providers and IAR has mcanl thai many hotspots for electrocution have been remedied in the year. In addilion, rope bridges have b¢en insialled to connect the tree canop), and maintain routes for arboreal '11d]ife. Also, working with the ele¢iri¢ Companies, the Irees are trimmed back to reduce ac¢css onto the unsafe cables. In November 2023, the Sir Michael Uren Wildlife Rcscue and Edu¢aiion Ccntre was ¢ompleted, with all resid¢nls at ihe existing temwrary facility moving inio their new hom¢ by the end of the montli. The new centre ha5 capacity to house up 10 200 animals al a time and, Should it prove necessary, this will enable the numFKr of how.ler monkej's undergoing rehabilitation at an). on¢ iimc lo increase by 50Q/o. The 5tate- of-the-art clinic has all the space and pmfessional equipment nccdcd to provide ihe best possible care for sick and injured animals. It is 5tsffed by skilled veterinarians and a full support team: ensuring that animals receive immediate. specialiscd medical attention. This will Significantly increase their chances of suryival and cnable them to regain their hcalih and sirengih. Page.. 8
INTEILNATIONAL ANIMAL RF.SCUE (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Alongside animal care, this new centre will aci as an educational hub. furthering our mitigation efforts, and the whole team are beaming with grdtitude for the support we received to build this centr¢. The 2023 statistics for IAR Costs Rica are as follows: Total Animals Received.. 404 (274 mammals. 110 birds, 20 reptiles) Total Emergency Calls Re¢¢iTr'cd= 1.095 Total Electrocution Reports (Calls)- 147 (134 howler monkeys, 5 squirrels, 8 other mammals) Total Number of Electrocuied AniTnals Receii'ed= 45 how'l¢r monkcys Total Anitnals Rcleased.. 140 (92 mawnwna15, 40 birds, 8 reptiles. Incudes 15 howler monkeys, 4 of which were electrocution patients) Armenia Bear5 Historically, wild b¢ars have been illegally caught or trapp¢d by poachers in Amienia. On¢e captured. many of ihem end up in small. squalid cages in restsurants and other public entertainment venues as a tourist attraction. Some arc kcpt in bus detK)ts, others are hidden from view in dark cellars. Some of the bears are mentally and physically damaged bv the boredom and frusirdiion of their miserdble existence behind bars. The bears in Arnjenia are Syrian Brow'n Bears (Ursus arcios syriacu5). onc of the smaller sub_species of brown bear. They are foutEd in the mountainous areas of th¢ country w.hcre thcv forage for fruits. berries and insects in th¢ mcadoivs and forests and hibernaie in caves and ire¢ hollows. Th¢ir barren prisons are a far cry from their natural home in the forest. Many bears are being kcpt captive in tniserable conditions across Arnienia. including in the ¢apiial ciiy of Y¢r¢van. Some hav¢ bc¢n incarcerated for )'ears in crdmped cages M'ith scarcely any fo(Ml or water. Their environment meets none of iheir ps)'chologi¢al or ph)'sical nccds. They have very little space to move around in. They are given unsuitsble and insulTicicni food and no eni'ironmentsl enrichment to distracl and amuse them. The bears have been deprived of thcir dignily" and thcir freedom. Thc). lack everything they need to live life as nature intended. In October 2017. in conjunction '1th local partners FPWC, Internalional Animal Rescue launched a new campaign to help these suffering bears. The Great Bear Rescue aims to free them from their suffering and, after thorough vclcrinari. check5 and a55e5Stncnt, r¢habililalc and evenlually relcasc those that are ph)'sically and m¢ntslly equipped to fend for ihcwn5elves in lh¢ ii"ild. Those that are noi viable for release will be given a p¢rmancnt hotnc in sancluari¢s .h¢r¢ ihc). H ill b¢ isell cared for, ¢11 f¢d and have the freedom to ¢¥pr¢ss natural bcar bchaviour. In July 2023, two b¢ar cubs. Sam and Lexi We found alone and ierrified. their mothers likely victims of poaching. The cubs were welcomed into our Care and received the dedicaied allention of our skilled vcterinaries. Th¢). ar¢ nom. b105soming inio N'ibranL energeiic cub4 and with the support of their carers. providing all the skills n¢c¢ssary io surn.1¢ in the M'ild, the ho is that once read).. they can be releascd back into thc ivild. By the end of 2023. Ihere are 29 rc5cued bears are now being Cared for at a purpose build rehabilitation centre in the South Caucasus molbntains of Amenia. Page.. 9
INTEIiNATIONAL AWI IMAL RESCLTE (LIMITED BY GUARAwfEE) REPORT OF THE TRb'STEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Futre plans Looking inio 20?4 and ixyond. thc charity will continue to expand its audience through the IARconserves programme, highlighting ils widcr protcction, conscrvation and environmental strategies. Ai a lime ivhen bi(Idiversity loss, climaie change and the link ktw¢cn nalurc and hutnan health is 50 prominent, it is right that IAR presents its holistic 'on¢-healih' conservation approach to new and existing supporters 50 that this critical work Can deliver the biggesi impact. W¢ plan to capitalise on the strong perfomiance in digiial re¢ruitmeni we saw towards the end of 2023. 'IThis 'ill involv¢ ¢ontinuing io refine our online fundraising and ¢reaiing mor¢ immersive contenl that allows supporters to conneci more deepl). with our projects and ihe animals we help. Alongside this, we will be reviewing and enhancing our supporter stew'ardship progrdmme to ensure ihat those who give to IAR feel valued and understand the impact of their contribution5. In our project worl we will continue to supwrt and expand our key initiatives in oranguian conservation, bear rescue, slow loris protection. and wildlife rescue in Costs Rica. lllvestments I'he Charity's equiry investments are managed by Rathbone Greenbank'5 cthical invesmient team according io the objectives of the Charity. Our reserves are inve5tcd in a divcrsified ponfolio of socially responsible assets, including those focus¢d on future revenue streams in scctors likc reTre.able energ).. Increasing interest rdtes imposed by the Central banks io counter rising inflation in the aftermath of the Covid-19 pandemic and the war in Ukrainc have had a negative impact on the valuation of these assets due io higher discount rates applied to long-temi cash flow proj¢¢rions. These challenges are slarting to abaie th'ith n]mours of interest rate cuts already having a positive itnpa¢t on our investments: any actual cuts should coniinue io drive an improvcJn¢nt in our investment's p¢rfomiance. Despite the volaiilits.: th'e remain confident in the sustainabiliiy mandate of our rcscrves investment portfolio and are hoping to see iailwinds in the near future. In 2023. the investment porrfolio expericnccd gains of 3.40/0 (15.50/0 loss in 2022). This was built up of unrealised gains of £59k and realised gain of £4?k. Approximatel}, £lm of the investment portfolio was liquidated to cover operational proj¢cl ¢xpenditure and ncw c¢nlrc constru¢iion' £260k of which was ih¢ utilisation of restricted funds. Incomc from ini'estments in ?093 was £93k. in line with incotne rcccived in 20?2. Financial Performance Income was lower irk 2023 at £3,143k (?022 £i.531 k). In 2022, a one-off donation of £143k wa5 receivcd from Ricky Gernais from proceeds from his Arniagcddon tour. Alongside this. 2022 saw a higher level of lega¢y income than usual, as such wc saw a reduction of £255k from legac). incomc in 2023. This income source is always uncertain in its tiTning. Individual giN'ing was mosili, consistent with ?022, however towards the ¢nd of the )'ear we saw strong perforniance in digital gii'ing, and ive expecl this trend to continue into 2024. Charitable expenditure was higher in 20?3 than in Ihe prei0S N'ear ai £3.437k against £3,34 Ik in ?022. Direct support to the Projects increased slightly in 2023 to £3.135k. Fundraising ¢osis were highcr in 2023 at £569k {20?2.. £458k). 'fhis reflects thc rc5tArt olour supporter recruiiment program, boih digitally and offline. The Charity experienced an operating 1055 in 2023 of £878k. Of this. £360k (£260k of which being the utilisation of restricted funds) sN'as for the ncw. res¢ue centrc build in Costa Rica. £376k was funding for the conslruction of a n¢w bear sanctuary in Arnienia. Page.. 10
IrERATIONAL ANIIIIAL RESCUE (LIMITED BY GUARAwfEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Overall, the items dis¢u5sed abo¢ rcsult¢d in a Ioss for the Jear of £777k {b¢for¢ non-cash affecting 'oiher re¢ognised losses, which arc linked to the Charity's exchange rate hedges). Reserves As discussed above, the impaci of the Ukraine war continues to have a profound cffcct on global macroeconomics. High inflaiion and the associaied cosi of lifv'ing siiuaiion is ¢ausing significant hcadwinds; the central banks increasing inieresi raies is directl). affeciing our supponers, propensii}' to giv¢ and is having a detrimental effect on our ethical iniesthients. Due to global inflation. project cosis around the world have in¢r¢ased. In addition to the restricted funds held by IAK which are detailed in Note 15. the Charity is holding ring- fenced reserves for essential future spending on large projccts that cannot bc Tnct from future income alone. These activiiies include: the expansion of the bear rescue and rehabilitation facility. in Armcnia and a reserve fund for the managemeni (one )'ear) the c.95k acre land5capc lo protcct thrcat¢n¢d orangutan habitat. Taking into consideration the financial risk ass(Kiatcd with fundraising chall¢ng¢s in the current economic climate, the significant monthly commitmcnt to Se¢raI ovetseas proje¢is, exchange rate fluctuations and unccrtainty within the funding streams: the Trustees considcr thai holding slightly higher than usual free rcscrves is prudent, withoui being excessii'e. At thi5 liwn¢. Ihe Trusiees have agreed an appropriate reserves rangc for IAR as £4.2m to £4.7m, 'hICh is brokcn doknn as follo.5: Reserves ran Financial im Worki Rin -fenced reserves Minimum level act of risk £O.iTn £1.5Tn £?.2m £4.2m £0.5m £4.7m ca Maximum level Due to the withdrawals in 2023, the actual free SeeS held by IAR as at 3151 December 2023 is £4m (2022.. £4.5m) which is only slightly belo. the desired rdnge. The Truslc¢5 are conscious of the unprecedenled economic conditions are monitoring the situalion car¢full)' to ensure the long-temi sustainability of the Charity. Page- I I
INTEILNATIONAL ANIMAL RESCUE (LIMITED BY GUARAwfEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Statement ofTru5tee5' Responsibililies and Corporate Goverllanee The members of the Board of Trustecs. as Trustees and Directors. are responsÈblc for preparing the R¢port of the Trusiees and the financial ststcments. The Trusiees hawc chosen to prepa financial statements for the company in accordance with Unitcd Kingdom Generalli. Acccpted Accounting Practice (UK GAAP)- Company law requires the Trustecs to prepare such financial 51atements for each financial )'ear which give a Irue and fair view of the state of affairs of the Compan). and of ihe Surplus or deficit for thai period and comply with UK GAAP and thc Companies Aci 2006. In preparing the financial stalements, the Trustees are rcquircd to=_ select suitable accounting policies and then applN' Ihem ¢on5lStently- make judgements and estimaies ihai are reasonable and prudent- slate .hether applicable ac¢ounting standards hai'e been followed, subject io any Tnaterial departures disclosed and explained in the financial stat¢mcnts' and prepare the financial staietncnts on the going concern basis unless li is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting rccords which disclose with reasonabl¢ a¢curacy at any titne the financial position of the chariry and whi¢h enablc thcm to cnsure thal the financial statements comply with the Companies Aci 7006. The). are responsiblc for safeguarding the assets of the Charity and hence for taking reasonable steps for ihe prei'eniion of fraud and othcr I¢glarI1]eS. The Trustees are responsible for the maintcnancc and inlcgrity of the corpordte and financial infonnation included on the Charli) s w'¢bsiie. l.egislaiion in the United Kingdown govcrning th¢ preparation and dissemination of financial sthieTnents ma). differ from legislalion in other jurisdictions. Statement as lo Disclosure of Infonnation to Auditors So far as the Trustees are aw'are. there is no relevant audit inforniation (as defined by Section 418 of ihe Companies Act 2006) of which the compan), s auditors are unam'are. and each Trustee has taken Ihe steps that he ought to have taken as a Trustee in order to makc himself aare of an). rcleN'ant infornjation and to establish that the company'5 auditors are a.are of that inforniaiion. Registered office: On behalf of the Board Lime House Regcnc>' Close Uckfield Easi Sussex TN?2 IDS A Bruce- Trustee Date- .4¥J.o_LIs- Page.. 12
II%DEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF ILYfEIL)ATIONAL AN'IMAL RESCUE (LI.MITED BY GuAlLNTEE) Opinion We have audited the financial staiemenis of Int¢rnational Animal Rescue (the 'company') for the year ended 31 st De¢¢mbcr 2023 which comprise the Stsietnenl of Financial Activiiies. th¢ In¢ome Statcment. Balance Sheet, Cash Flow Statement and Notes 10 the Financial Statements. including a summary of significant accounting policies. Thc 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. (Unitcd Kingdom Generally Ac¢epied A¢¢ounting Practicc). In our opinion th¢ financial stateTnents= give a true and fair view of ihc state of the companYs affairs &$ at 31 st December 2023 and of its income for the year ihen ended. have been properlj prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢tice' have been prepared in ac¢ordan¢¢ with the requirewnenls of the Companies Act 2(N)6. B319is for opinion We conducted our audit in ac¢ordan¢¢ with Intemational Sthndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are futer described in the Auditors, responsibiliii¢s for the audii of the financial statements section of our report. We are independeni of the ¢ompany in accordance with the ethical requirements that are relevant to our audit of the financial staiements in the UK. including the FRC'S Ethical Standard, and e have fulfilled our oiher ethical responsibilities in accordance with these requirements. We beli¢ie ihai the audit evidence M'e have obtained is sU1Clent and appropriate to provide a basis for our opinion. Conelusions relating to going concern In auditing the financial statements. we have concluded that thc dircctors, use of the going con¢¢m basis of accounting in the preparation of the financial 5tatCTll¢nts is appropriate. Based on the work we have perfomed: we have noi identified any material uncertainties relating to events or conditions thal, individually or ¢olleciivel)', may cast significant doubt on the Compan,5 ability to ¢on¢inu¢ as a going concern for a p¢ri(d of ai leasi N'ell'e months from .hen the financial slatements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant scctions of this report. Other inforni¥tion 'rh¢ Trusiees are responsible for the othcr information. The other inforniation comprise5 Ihc informaiion in th¢ R¢port of the Trustees but does not includc ihc financial stht¢ments and our Report of the Auditors ther¢on. Our opinion on the financial statemenls do¢s noi cover the other inforniation and we do not express any forni of assurance conclusion ihcreon. Page: 13
IINDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF IiYrEIL%ATIOYAL ANIMAL RESCUE (LIIMITED BY GUARth'TEE) In Connection with our audit of the financial stalements our responsibility 15 to read the other infom)ation and, in doing so, consider whether the oiher infomiation is materially inconsisient with ihc financial statemenis or our knowledge obtained in the audit or oihcN'i5e appears to be mat¢riall)' tnis5tMtcd. If we identifv such marerial inconsistencies or appareni maierial mis5tat¢ments. we are required to deiemiine wh¢thcr there is a mat¢rial missthtewncnt in the financial siatements or a material wnis5tatement of the other infomaiion. If, b&scd on the work 'e havc perfonned, we conclude that there is a tnalcrial misstatement of this other infomia(ion. we are requÈred to r¢port that facl. We haN'e nothing to report in this r¢gard. Opinion on other mxt¢ers prescribed bv the Companies Act 2006 In our opinion, based on ihc i%"ork undertaken in the course of the audii: th¢ infom)ation giv¢n in thc Report of the Trustees for the financial year for which the financial slatCTllCnts are prepared is consisient wilh ihc financial statcments. and the Report of the Trusiees has b¢¢n prepared in accordancc with applicable legal requirements. Matters on which we are required to report by exceptio In the light of the know'ledge and understanding of the ¢ompan!' and ils environment obtained in the cours¢ of the audit, M'e have noi identified maierial missthiem¢nts in ihe Report of the Trusiees. We have nothing to r¢port in respect of the following maners where the Companies Act 2006 requires us io rcport lo you if. in our opinion: adcquate accounting rc¢ord5 havc noi been kepL or reiurns adequaie for our audit have not been re¢eiied from branches noi visiied by us. or the financial statements are not in agreement with the accounting records and returns. or ecrtain disclosures of tnksie¢s' remuneraiion specified by lam, are not made; or wc have no¢ re¢eiv¢d all Ihe infomiation and explanations e require for our audit: or the trustees M'ere not eniiiled io prepare the financial statements in accordancc with the small ¢oJnpanies regime and take advantage of the small companics. ¢xctnplion from the requirement to prepare a Strai¢gic Report or in preparing the Report of the Trustees. Respollsibilities of trustees As explained morc fully in the Statement of Trustees, Responsibilities: the trustccs arc responsible for the preparation of thc financial staiem¢nis and for being satisfied that thci. give a truc and fair view, and for such internal control as the irusi¢es deterniine necessar). to enable the preparation of financial statements that are free from material missthiemenL whether due to fraud or error. In preparing the financial stsiements, the trustees are responsible for assessing the COMpanS ability to continue as a going concern, disclosing. as applicable. matters relatcd io going ¢oncern and using the going concem basis of accounting unle55 ihe irusiees either intend to liquidatc ihc company or to cease operatlOllS, or have no reali51ic alternative bui io do so. Auditors, re5pon5ibilities for the audit of the finaneial statements Our obj¢¢tiv¢s are io obtain reasonable a5suratLce aboui ii'heiher ihe financial 51aiements as a whole are free frotn ma¢¢rial misstatement. .hcthcr due io fraud or eOr. and io issue a Report of the Auditors that includes our opinion. Reasonablc a55uran¢e is a high lei'el of as5uranc¢. bui is not a guarantcc that an audit ¢onducted in accordance w'ith ISAS {UK) will ala)'S detect a material misstatement when it exists. Misstai¢ments can arise from fraud or error and are Considered material if, individually or in the aggregate, the>. could reasonably be expected to influence thc cconomi¢ decisions of users tsken on the basis of these financial statements. Pagc- 14
'DEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF IiYrEIL)ATIOYAL AIIIMAL RE.SCUE {LI.MITED BY GLARthTEE) Irrcgularities. including frnud. are instan¢es of non-complianc¢ with laws and regulations. We design procedures in line M'ith our responsibilities. ouilined ab)ve. to deteci maierial misstalements in respcct of irregularities, including fraud. The extent to which our procedures are Capable of detecting irregularities, including fraud is deiailed belo.= We idenlified areas of laws and regulations that could r¢a50nabl)' be expected to have a tnatcrial effeci on ihe financial statements fmm our gcncral commercial and sector experience and through discussions with the trustees (as required by audiling standards) and discussed with the truslees the policies and proccdurcs regarding compliance with laws and rcgulations. We communicaied idenlificd la.5 and regulations ihroughoul our ream and remained alert to an) indi¢aiions of non-compliance throughoui th¢ audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statctncnts {including the risk of OveId¢ of controls) and deiemined ihai thc principal risks were managemeni bias of accountiiig esiimatcs particularly in relation io the liming of lcgacies. Audit procedures perfom)ed by thc engagcmcnt team included.. - di5CUSsions with managements including consideration of known or suspected instances of non-compliance with laws and rcgulations and frdud. challenging estitnates and judgemenis made by management in thcir significant accounting estimates that involvcd making assumptions arkd considering fuiure events that are inherently uncertain. The potential effect ofthese laws and regulations on the financial staiements varies considerably. Firstly, the company is subject to laws and regulaiions thai directly affect the financial statcmcnts including financial reporting legislation and we assessed the exient of ¢omplian¢e with these laws and regulations as part of our procedures on the related financial Maiement iiems. Secondly, the company is subjcct to many other laws and regulations whcrc thc cons¢qucnces of non- cotnplianc¢ could hav¢ a matcrial ¢ffcct on aTnounts or di%10surcs ITI thc financial stat¢TncRts, for instance through the imposition of fines or liltgation. We ideniified o%'erseas laws and regulations relating io the support of projecls where the laws may be considerabl), differeni to ihe UK along '1th Health and Safety regulations in the UK and overseas as the areas mosi likelv io hae such an effect, recognising the nature of the company's a¢iivities. Audiiing siandards limit the required audit procedures to identify. non-compliance w'iih these laws and regulaiions to ¢nquiry of ihe trusiees and other management and inspection of regulatory and legal corSpOndence, if any. Through these procedures. we became aware of no actual or suspected non- compliance. Owing to the inherent limitations of an audi( there is an unavoidable risk ihat may not have deiecied some material misstalement5 in the financial slatetncnts. V4'¢n though we have properly planned and perfomied our audit in accordance 'Ith auditing standards. For ¢xample. the further r¢moved non-compliance with laws and regulations (irregularilies) is from the events and transactions refle¢trd in the financial staiements, the less likely the inherentl). limited procedurcs requircd bi. auditing stsndards would identify it. In addition, a5 With an), audit. there remaincd a highcr risk of non-deieciion of irregularities. as these may involi'e Collusion. forgery, int¢ntional omissions, misrepresentations. or the ON'¢Ide of inl¢rnal controls. We are not responsible for preventing non-compliance and cannot bc expected io ddeci non- compliance with all laws and regulations. Page: 15
INDEPENDENT AUDITORS. REPORT TO THF. TRUSTEES OF INTERJATIOYAL ANIMAL RF.SCUE (LIMITED BY GUA1TEE) A further description of our responsibilities for the audil of the financial ststements is located on the Financial Rcporting Council's websitr ai www.frc.org.uklauditorsresponsibilities. This description forn)s part of our Report of the Auditors. Use of our report This rcporl is made solely to the compans s mcmbers, as a body. in accordance ii'ith Chaptcr 3 of Part 16 of the Companics Act 2006. Our audii work has been undenaken so that 'C might state to the company's m¢mbers those mattcrs we are required to strte io ihem in a Report of thc Auditors and for no other purpose. To the fullest extent p¢rmittcd b). law, Th'e do not accept or assume SponSIbl]Ity to an)'one other than the company and ihe company's mctnbers as a body. for our audit work. for this report. or for thc opinions we have fom]ed. Victoria Anderson BA{Ilons) FCA DChA {Scnior Statutory Auditor) for and on khalf of Clark Brownscombc LiMid Chartcrcd Accountants and Statutory Auditor5 2 St Andrews Place Lewes East Sussex BN7 1 UP Date.. Pagc- 16
INTEILYATIOYAL ANI.MAL RESCUE (LI,MITED BY GUARANfEE) STATEMENT OF FINAI%'CIAL ACTIVITIES FOR THE YEAR ENDED 31 ST DECEMBER 2023 Unrestricted Funds 2023 Restrieted Funds 2023 Tot1 2023 ote5 2022 INCOME Donations and legacies Donations and grants Legacies Investments Interest - Cash deposits UK Fixed Interest Securities Ofverseas Fixed Interes1 Securities Dividends UK cquilies Ovcrscas equities Othcr trading activities IJOO,770 1,459J12 283,076 1,583,846 1,459J12 1.711.677 1.714,396 8221 19WO 2,124 8221 19.830 2,124 5,558 15,760 1.606 48,979 14J60 48,979 14J60 54,876 16,380 Total income 59 3 283 076 3 142 609 3 531300 EXPENDITURE Charitable activities Raising funds Fundraising costs Investmeni managers fees 292.008 $44,825 3,436,833 3,341,839 568594 568,594 458.567 Tot#1 expenditure 3 475 791 4 020 616 3819312 (616258) (261.749) (878,007) (288,012) Gainsl(losses) on investment assets 101 192 101 192 1030 806 Net (expenditure) (515,066) (261,749} (776015) (1,318,818) Other recognised gaiDsI(losses) {Loss)Iprofit on foreign exchange Gains/(losses) on forward exchange contracls (1265) (1265) 1,636 Nei movement in funds (496.703) {261,749) (758,452) (1,403.794) Reconciliation of funds Fund balan¢¢s ai I st January 2023 83 284 968 6 430 045 Fund balall¢es at 315t December 2023 The detailed 2022 compardtive sthiement of financial activities is reported in note 2. The notes fonn part of thes¢ financial slatemenls Pagc.. 17
I.NTERNATIONAL ANI IMAL RESCUE (LIIIITED BY GUARTEE} IYCOME ACCOLNT FOR THE YEAR ENDED 31ST DECEMBER 2023 No¢e5 2023 2022 TURNOVER 3,049,095 3,437,120 Campaign costs, fundraising, administrntion and general expenses 4 020616 3 819312 OPERATING (DEFICIT) (971521) (382,192) Gains/(losses) on sale of investments 42,486 (191.713) (Lossesygains on fo1gn exchang¢ (1365) 1,636 Interest receivable and income from investments {DEFICIT} FOR THE FINANCIAL YEAR All amounts relate to continuing activities. STATEMEL¥T OF COMPREHEYSIVE INCOME 2023 2022 (Deficit) for the year (836,786) (478,089) Unrealised gainO(losses) on revaluation of investments $8,706 (839,093) Gain(loS5es) on forward exchange contrncts Total rccognis¢d (losses) for ihe )'car The notes fonn part of these financial slatements Page: l 8
IL¥TEIL)A TIOLYAL ANI.MAL RESCUE {LlIMITED BY GbARth'TEE) BALANCE SHEET AS AT 31ST DECEMBER 2023 COMPANY NUMBER: 06035040 Notes 2023 2022 FIXED ASSETS Intangible assets Tangiblc assets Invesimenl5 65.217 141,877 3 109 067 59.587 149,539 4 066 990 3J16,161 4.276,116 CURRELYf ASSETS Stock Debtors Cash at bank and in hand 12.582 591,8.57 496 016 14,160 2?4,291 680 ?75 io 1,100,455 918,726 CURRENT LIABILITIES Creditors.. Amounts falling due '1th1n one )'ear 148 168 591 NET CURRENT ASSETS 750 135 TOTAL ASSETS LESS CURRENT LIABILITIES THF. FUNDS OF THE CHARITY Re5tricled funds 15 23 284 968 Unrestrictrd funds Revaluation reserye 4,037,018 207 4,467,923 273 360 Total unrestricted funds 16 4741283 TOTAL CHARITY FtiYDS Appn)ved by the trustees on . A Bruce - Trust¢¢ The not¢s fomi part of these financial statements Page= 19
INTEILJATIOINAL LII.MAL RESCUE (LIMITED BY GL'ARAliTEE) CASH FLOW STATEMENr FOR THE YEAR ENDED 31ST DECEMBER 2023 Note 2023 2022 Net easb from operating activities 20 (lJ16257) (498,775) Cash flow from investing a¢¢ivities Purchase of intangible assets Purchase oftangible ass¢is Purchase of fixed assei inveslments Proceeds from disposal of fixed asset infvestsnents Interest received and income from investsnents {16500) {2866) (101,679) (59,587) {2.391) (907,642) ,160,794 1.064,040 93 Net cash gained in investing a¢tiviti 188 600 Net (decrease) in ¢a$h and ¢8$h equivalent5 (182,994) (310.175) Cash and cash equivalents ai the beginning of )'ear 680275 988,814 xchange (lossesygains 65 Cash alld casb equivalents at end of year Cash and cash equifv'alents ¢onsisls or: Cash at bank and in hand Cash held by siockbrokers 297,874 198 142 144,514 535 761 The noles forn part of these financial statements Page= 20
IiYrEIL)ATIOYAL NIMAL RESCUE ILI.MITED BY GUAILLSTEE) I%OTES TO THE TrI%AJ'CIAL STATEME,NTS FOR THE YEAR ENDED J 1ST DECEMBER 2023 Accounting policies a) Basis of aceouttting The financial statemenis hai'c bccn prepared in accordance with Accounting and Reporting by Charities.. Staiemeni of Re¢omm¢nd¢d Praclicc applicable to charities preparing their a¢¢ounis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102. cffcclive l January. ?019). hereafter referred io as the Chari(i¢s SORP (FRS 102), thc Financial Rcporting Standard applicable in the UK and Republic of Ireland (FRS I O?} and the Companies Aci 2006. Iniemaiional Animal Rescue meets the definition of a public benefil entity under FRS 102. Assels and liabilities are initially recogni5ed at historical cost or Irdnsaction value unless otherwise slated in thc rclevant accounting FK>lic)' note. In thc application of thc charil)"5 accouniing policies, the Trusiecs are required io make judgemenis, estimates and assutnplions aboui ihe ¢anying amount of assets and liabilities that are not readily apparcnt from othcr sourccs. The esiimaies and ass(KiaEed assumpiions are based on historical experience and other factors ihat are considered io iK relevant. Actual results may differ from these estimates. The estiTnalcs and undcrl)'ing assumpiions are reviewed on an ongoing basis. Revisions to accounting estimatcs arc rccogniscd in the period in w.hich the estimate is reIsed, if the revision affccts only that period. or in th¢ period ofihe i¢i'ision and fuiure peri(NJs if the reN'ision affccts both ¢urt¢ni and future periods. However, there are no judgements or a5su¥nptions thai have a significant risk of causing material adjustment. b) Income (i) Donations and Gift Aid Donations are recognis¢d iN"h¢n the). are receied and recorded in ihe Chariiy's accounting records. Income tax r¢coerable in relaiion to donations rccciwcd under Gift Aid is recogniscd al the titnc of th¢ donaiion. (li) Lcgacies Lcgac), income is recognised in thc SOFA ivhen the charity has enlitlement to the income, the receipi is ¢onsidered probabl¢ and amounts receivable can be measured '1th sufficicnt reliability. Income from pecuniary inieresis is re¢o8nised when probate has been granted and 'c have been adN'ised of the amount Stipulaied in the will. Incomc from residuary. interests 15 recogni%d M,hen probate has granied and w'e have receivcd lh¢ approved accounts of the e5ts1e or M,here notification of impending distribution has been received. The charity is th¢ rcsiduaj), beneficiar%' of 50m¢ properties without curr¢ni vacant possession and for these premises a sale Yaluc ¢annoi be accuratcl). d¢l¢miined and as such th¢5¢ legacies are nol recordcd on the SOFA. (iii) Trading Activilies Incomc from tsading activitics is in¢luded in the period in which the Charity is entitled to receipt. Page= 21
I.W4TEILN'ATIONAL AJ'IIIAL RESCUE (LI.MITED BY GUARTEE) NOTF.S TO THF. FINAI%CIAL STATEI3lENTS FOR THE YEAR E,NDED 31ST DECEMBER 2023 (iv) InvesiTneni income Income from invcslments is recognised when receivable. c) Expenditure Expenditure is included in the Statcment of Financial Activities on an accruals basis in¢lusive of any VAT whi¢h ¢annoi be recovered. Certain expenditure is direcily attributhble to Specific activities and has been included in those cost categories. Certain other costs. whi¢h are allribuiable io mor¢ than one activity. are apportioned across cost categories on the basis of an estimate of the proportion of tim¢ spcni by staff on those activities. A proportion of the costs of producing fundraising liieraiure is ¢onsidered to b¢ cducational and thcrcfore included within charitable activities. The main categories of expenditure are:. Charitsble activities are the costs of the Campaigns and related support costs. b) Raising funds are fundrdising costs and tnvesmient management fees. Fundraising Costs relate to the external agencies and internal fundraising resource. Agency cosis include the design, production and printing of promotional maierial. as well as the direct mailing cosis. Twetkt}' five per ccnt of the cost is allocated io education on the basis that the literature produccd increa5cs public awareness of issues that the Charity works with around thc world. Support COSIS are allo¢ated over thc above catcgories on the basis of staff time spent on ¢a¢h a¢tivily. d) Pension scheme *rrallgements The Charity makes contributions to a small self-administered pension scheme h1¢h operates on dcfincd contribution basis to providc cmplo)'ccs rctir¢mc¥Jt and death bcncfits. Rcgular contributions are re¢ognised on an accruals basis and special ¢ontyibuiions are wognised in the period in whi¢h Ihey ¢xcur. e) Going concer The trustccs ha"C considcrcd thc financial position of the chariiy for tw'¢l%'¢ months from the date that the balance sheet is Sign and conclude thai ihere a no material uncertainties concerning ihe ¢haril) s abilily to ¢ontinu¢ as a going concern. In coming to this conclusion the trustees have considered the expected funding requiremenis to maintain the Charity's objective5 for the period and Ihe amount of free reserves and future eipected incoming resourccs aN'ailabl¢ io achievc this. They have also ¢onsid¢red the global uncertainti. around income pressures duc to the cosi of liiiing rises and rising cost pressures in ihe developing world. Analysis of the free re5crves are set out in the trustees report. Page= 22
INTERNATIONAL ANIMAL RESCUE ILIMITLD BY GUARANTEE) 'OTES TO THE FIINANCIAL STATEMF.NTS FOR THE YEAR F.NDED 31ST DECEMBER 2023 0 Fund accounting The charit). maintains various funds in accordance with the Statement of Recommended Prac(ice 'Accounting and R¢porting by Charities 2019.. These funds, which require separate disclosures, are as follows:_ Unrestricted Funds. Thcse are general funds of the charity and are expendable at the discretion of the Trustc¢s in the furthcrance of the chariiable objeciives. The main sources of g¢neral funds are donations arising frotn appeals. grants from trusts and inveslmeni income. Th¢ main applications of general fund5 arc campaign costs. fundraising Cosis and related overhead cosrs. Restricted funds. These arc funds which are subjeci to specific objects declared by the donor or ivhich are raised by appeal for a sp¢eific purpose. These funds are expendable by the l-rustccs in furtherance of the specific object for which th¢y 'Cre given unless the donor later agrees that they can be applied for a gencral purpose. Due io the nature of these funds they are accounted for separat¢ly from the general funds of the charity. g) Fixed assets Fixed assets are depreciated oN'cr their expected useful lives at ihe following annual rdt¢5.' Freehold property Motor vehicles Plant and machinery Office equipment 20/0 On cost 250/D Reducing balance 20010 Reducing balance 200/0 Reducing balance h) Stoek Stock is included at the lower of cost and nct r¢alisabl¢ value. Cost is detem)ined on a first-in, firs1- out basis. Net realisable value is based on estim&t¢d selling price, Icss any further costs of realisation. i) Financi#l inslruments Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the inslrument. (i) Financial assets and liabilities All financial assets and liabilities are initially measured at transaction price (including transaction ¢osts), exccpt for those financial assets ¢lassified as at fair value through profil or 1055, which are initially measured at fair valu¢ (which is nomially the transaction price cx¢luding transaction costs), unless thc arrangement constituies a financing transaciion. If an arrangement constitutes a financing transaction. the financial asset or financial liability 15 measurcd at the present valuc of the futurc paymenis discounted at a market rate of interest for a similar debt instrumenl. Financial assets and liabilities are only offset in the statemenl of financial position when, and only when there exists a legally enforccabl¢ right to set off the recogiiiscd amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultancously. Pagc: 23
INTF.ILNATIONAL AlmAL RESCUE (LI.IIITED BY GUARANTEE) ,NOTES TO THE FIN'ANCIAL STATEMF.NTS FOR THE YEAR ENDED 31ST DECEMBER 2023 i) Financial instruments (cootinued) Financial assets are d¢recognis¢d whcn and only when {a} th¢ ¢oniractual rights to the cash flows from the financial assei exprre or are 5Ctilcd. {b) the Charity transfers io anoihcr paw, substantially All of thc risks and rew'ards of ow'nership of thc financial asset, or (c) the Chariiy. desP5tc having retained some, bui noi all, significant risks and rcw'ards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligaiion specified in thc contract is dischargcd, cancelled or expires. (ii) Investsnenis Invcslrncnts are measured at fair i'alue as at ihe balance sheet date using the quoted market price. The statement of financial acliN'ities includes ihe nct gains and losscs arising on rcvaluation and disposals throughout ihe vear. Unrealised gains and losses on revaluation are accountcd for in the relevant fund. (iii) Cash and cash equivalenls Cash and cash equiN'alents comprise cash ai bank and in hand, demand deposits with banks and other short tertn highl). liquid iniesiments with original maturities of ihree months or Icss. Pagc= 24
l'TElLATIoYAL ANIMAL RESCUE {LIMITED BY GUARknNTEE) L'OTES TO THE FINAN'CIAL sTATEmETs FOR THE YEAR EliDED 31ST DECEMBER 2023 2. Detailed comparatives for the slalemenl of financial activities 'nrestricted Funds 2022 R¢stri¢ted Funds 2022 Total 2022 INCOfiME Donations and legacies t)onations and grants Legacie5 Investments Interesl Cash deposits UK Fixed Inlerest Securilie5 Overseas Fixed Intcrest Sccurilies Dividends UK equities Overseas equitie5 Other trading activilies 1,466,906 1,714J96 244,771 1,711,677 1,714J96 5J58 15,760 1,606 5.558 15,760 1.606 54,876 16J80 54.876 16J80 Total ill¢ome 86 244 771 3531 00 EXPF.NDITURE Charitable a¢tivill¢S Raising funds Fundraising costs Investment manager5 fees 2.918,067 423,772 3J41,839 458.567 Total expenditure 95 423 772 3819 12 (109,011) (]790[) (288,012) (Losse5) on investment assets 1030 806 1030 806 Net (expenditure) (1,139,817) (179,001) (IJ18,818) Other recognised glins Gains on foreign exchange (Losses) on forward exchange contrdcts 1,636 1,636 Net movement in funds {1224,793) (179,001) (1.403,794) Recoo¢iliatioD of funds Fund balances at I st January 2022 5 966 076 6 430 045 Fund balanees at 3151 De¢ember 2022 Page.. 25
INTEILNATIONAL AJ IMAL RESCUE (LIMITED BY GUARTEE) I%OTES TO THE FINLNCIAL STATENfEYI TS FOR THE YEAR ENDED 31ST DECEMBER 2023 3. Expenditure Unreslricted Funds Resirided Funds Total 2023 2022 Charitable Activities Campaign costs Educaiional costs Travel and accommodation Support costs 2J88JOO 182J38 19,466 301904 $44025 2,933,125 182J38 19,466 301904 2,851,626 146,772 20.712 322 729 3 436 833 3 341839 Raising fund5 Fundraising c05ts:. Appeal and other costs Support costs 354.037 214 354,037 214 557 244.402 214 165 458 567 Inve$¢meut m#nagers fee5 TotAI Analysis of Support Costs Charitable A¢tivities Fundraising Costs Total 2023 2022 sff Costs Premises costs olce admirkistration costs Insuran¢e Database, development and compuler costs Motor expenses Depreciation Amortisation Bank charges Audit and accountanc> fees Sundry expenses 206299 10,446 9,834 10,806 182,687 3,482 3278 3,602 388,986 13,928 13,112 14,408 423,490 14,469 16,301 12,100 20,668 2216 7.896 8,152 10.159 7J80 6,889 739 2.632 2.718 3J87 2,460 27557 2.955 10528 10,870 13546 9040 22.509 3.958 11,356 15,081 9,600 Page: 26
I.WTF.ILNATIOIYAL AI%IMAL RESCUE (LIMITED BY GUARANTEE) .NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 OperAting (defi¢i¢) The operatin8 (deficit) is 51ated after charging=" 2023 2022 Administrdtion expenses includin8:_ tkpreciation and amortisaiion Auditors remun¢ration audit fecs for accourEtan¢y work 21J98 11.356 5,600 5,400 -4200 S. Starr Costs 2023 2022 Wages and salari¢s Social security costs Pension costs 732J65 69.040 741,020 68.000 ?85 884.305. The number of stsff to whom rcliremcnt benefils ar¢ ¢rUIn8 under a defined contribution pension scheme is twenty (2022.. twenty). The avcrage number of employecs during the year was Iwenty two (2022.. twenty one). The number of employees receiving remuneraiion in excess of £60.000 p.a. is as follows.'- 2023 2022 £70.001 £80.000 £90,001 £ 100,000 The key manag¢mcni personnel of ihe compani, comprise ihe iwsiccs, the Prcsidenl and ihe Chi¢f Exe¢utivc. The total ¢mployce bcncfits of the k¢J' management p¢rsonnel w¢r¢ £201.5?0 (202?: £106.047). 6. TgxatiOD The Charily is considered to pass the tests set out in Paragraph I Schcdulc 6 Finance Act 201 O and Ih¢rcfor¢ il mceis the definition of a charitsble Company for UK corporation tax purposcs. Accordingly, the charity is polcniially cxcmpt from taxation in respect of income or capital gains rcccivcd within categories covercd by Chapl¢r 3 Part I I Corporation T&x Act 201 O or Seclion 256 of thc 'faxation of Chargeable Gains Act 1992, to ihe exteni thal such income OT gains are applied exclusively lo charitsblc purposes. Pag¢: 27
INTF.ILT%ATIONAL th'I.MAL RESCUE (LIIMITED BY GUARAliTEE) NOTES TO THE FIliANCIAL STATEMEliTS FOR THE YEAR ENDED 31ST DECEMBER 2023 llltangible Fixed Assets CRM System Cost As at I st January 2023 Additions 59,587 As ai 3 1st Decembcr 2023 Amorti$atioll As ai I si January 2023 Charge for Ihe >'¢ar io As at 3 1st December 2023 Net book value As at 31 st Dec¢Tnbcr 2023 As at 31 tkceTnber 2022 8. T#Dgible Fixed Assets Fre¢bold Property Plant & Motor Machinery Vehicles Total Cost At 1st January 2023 Additions Disposals At 31 st De¢emkr 2023 216,430 91J12 2866 32,000 339,742 2*66 216430 342 608 Depreciation At I si January 2023 Charge for the year On disposals Ai 31 sl December 2023 95,033 4J29 68.746 4005 26,424 lJ94 190203 10.528 99 73 Net Book Value At 31 st December 2023 Ai 31 st December 2022 Pase: 28
INTERliATIONAL ANIMAL RF.SCUE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 9. Investments 2023 2022 Markei value at I st January 2023 Acquisitions Less.. Disposals 4,066,990 101,679 08 5.254,194 907,642 1255 753) 3,OSOJ61 4.906.083 839 093 Net unrealised gainl{loss) on r¢valualion Market value of listed investm¢nts at 31 st December 2023 Hislori¢al cost at 31 st Dec¢mber 2023 All investments are listed on a recognised stock exchange. An analysis of investments is as follows= 2023 2022 Overseas Investments UK Investments Overseas Investments UK Total Invesimenis Total Debt Instrumcnts Equities 607260 1471570 305,616 912,876 724 621 2 196 191 621,261 146.565 767,826 1782227 1516937 3 299 164 10. Debtors 2023 2022 Other debtors Prepayments 254,466 337 199,175 I l. Creditors: amounts falling due within one year 2023 2022 Trade creditors Other taxes and social security costs Derivative liability Other creditors Accruals 33J29 20,467 45258 19,548 30 28.352 24.611 64,886 21,730 Page.. 29
lTEllATIO11,AL A.NIMAL RF.SCUE (LIIMITED BY GUARANfEE) NOTES TO THE FINANCIAL STATE.MENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 12. Internatiollal Animal Rescue Trading Limited The Charity holds l 0/0 of the issued share capital of International Animal Rescue Trading Limited (2 ordinary £1 shares). The company domiant throughout the year. 2023 2022 The assets and liabililies of the subsidiary were: Assets Liabilities 3,773 3,773 Aggrcgate share capital and reserves Consolidated financial statements have not iKen prcpared for the Group on the grounds that the subsidiary is not material and th¢ Costs of preparing Group financial statements outweigh the benefits arising from them. 13. Share Capital The company is limited b). guardntee having no share capital and members having a liability not exceeding £1 O each. 14. Financial IDslruments 2023 2022 Financial assets measured at fair value through income a¢couni IS. Restricted Funds At 1st January At315t December 2023 Ineome Expenditure 2023 Orangutan Conservation Costa Rica Build Arnienia Bears Tree Planting in Indonesia Ukraine Animal Rescues Mangroves Indian Bears Lisa Milella Veterinary Dental Fund 15.889 260,444 168.$06 2.498 84.000 11,877 525 11.000 3.000 (168,506) (262,942) (84,000) (11,877) (525) (11,000) (3,000) 15,889 Page= 30
INTERNATIONAL ANIMAL RF.SCUE {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR LNDED 31ST DECEMBER 2023 15. Restricted Funds Prior Year At 1st January 2022 At31st D¢c¢mber 2022 Income Expenditure Orangutan Conservation Costa Rica Build Amenia Bears Orangutan Release Programme Tree Planting in Indonesia Ukraine Animal Rcscues Lisa Milella Vctcrinarv Dental Fund 119,778 (119,778) {187,636) (94,738) 448,080 260,444 94,738 15,889 15,889 16,840 4.780 (16,840) (4,780) 28436E IAR received £169k of restricted funding during 2023 for Orangutan conservation work in Indon¢sia, £84k fur the Arincnia tireat Bcar Rescue project, £12k for tree planting in Indonesia, £1 Ik for Mangroves and £3k for Indian Bcars. All of these funds M'ere fully utilised during the financial year. All of the £260k rcstrictcd funding brought fon4'ard for building a new wildlife centre in Costa Rica was spent during 2023. £2k was received for the Lisa Milella Veterinary Denial Fund. £16k of restricted funds was brought forward for the purpose of designing a new transmitter system for post-rel¢ase monitoring of orangutans. Due to ongoing issUC5 Wlth tcsting of th¢ prototyP¢5. it Ivas agrced with th¢ donor that this funding ¢ould be transferred to general Orangutan Conservation. -fhis funding was spent after the year end, in January 2024. 16. Unrestricted Fuods At 1st January 2023 Unreali5ed At315t and re#lised De¢ember losses 2023 Income Expenditure General Fund Prior Year Ai 1st January 2022 Unrealised and realised gains At31st Deceinbcr Income Expenditure 2022 General Fund Page: 31
IINTEILNATIO.NAL A) IMAL RESCUE (LIMITED BY GLARyTEE) fiOTF.S TO THE FINAliCIAL STATEMENTS FOR THF. YEAR ENDED 31ST DECEMBER 2023 17. Analysis of Nel Assets between Funds Unrestricted Restricted Total Inthngible fixed assets Tangible fixed assets Investttt¢nts Stock tkbtors Cash ai bank Other net ¢urreni liabilities 65,217 141077 3.109,067 12582 591057 472,797 148817 65,217 141.877 3,109.067 591,857 496.016 148 817 23219 Prior Year Unrestricted Rcstricted Total Intangible fixed assets Tangible fixed assets Inv¢sthients Sio¢k Debtors Cash al bank Other net current liabilities 59,587 149,539 4.066,990 14,160 224,291 395.307 168 591) 59.587 149.539 4,066,990 14.160 224,291 680.275 168 591) 284.968 18. Related Party Transactions Grants and expenses totslling £?34.9?2 (?022.. £?03.676) were paid to Catastrophes Cat Rescuc. The partner of Alan Knight. Prcsidcnt of IAIL is ihe founder and trustce of Caimsirophes Cai Rescue. Accounting services are proi'ided free of charge to Calastrophes Cat Rc5CUC. Accounting Services fec5 of £4.600 (2022.- £4.600) were chargcd io Briiish Divers Marine Life R¢5cue, and office 5pacc is provided free of charge. Alan Knighi. Presideni of IAIL is a trustec of British Divers Marine Life Rescue. All transactions wcre approN'ed b) the Board of Trustees. 19. Trustees reinuDeratioD #lld expenses No remunerdtion or expenKs were paid bj the charity 10 any Trustee during this year or the previou5 year. Page- 32
INTEILNATIO,NAL Ali IMAL RESCDE (LIIMITED BY GUAIL4NTEE) I%OTES TO THE FII%L)CIAL STATEMENTS FOR THE YEAR ELIDED 31ST DECEMBER 2023 20. Notes to Ibe Cgsb Flow StstemeDt Reconciliation of net (defici¢) lo net £h {outflow) from operating activities 2023 2022 Operating (deficit) (971521) (382,192) Depreciation Atnortisation Decreasel(incre&se) in stocks Mov¢ment on derii'ative asset Ilncrcase) in debtors (Dccrcaseyincrease in creditors 10528 10,870 1.578 19,628 {367,566) 11.J56 (527) (86,612) {120.422) Net (oufflow) from operating activities -L498.77 21. Analysis of Changes in '¢t Debt At Isl Jgnuary Cash flow. At31st December 2023 2023 Nei C4$h Cash ai bank and in hand 22. Contingellt Assets In addition to legacy income rccognised in the SOFA. at the time of preparation of these a¢counts, the charity had bc¢n notified of 54 legacies with a total cstimatcd value of £1.2m which do not satisfy thc criteria required by our a¢¢ouniing tKTrlic)' to rccognis¢ ihe income during the }'ear {2022.. 17 l¢ga¢i¢s with a total cstimated value of £ I m). They are thcr¢fo disclosed here as a contingcnt assct. I'he total amount is subj¢¢i io signifi¢ant uncertainty.. as such it should not be iaken as a prcdiction of our future legacy incotnc. Page= 33