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2024-12-31-accounts

Charity registration number 205311

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

CONTENTS

Page
Trustees’ report 1 - 7
Independent auditor’s report 8 – 11
Consolidated statement of financial activities 12
Consolidated balance sheet 13
Charity balance sheet 14
Consolidated cashflow statement 15
Charity cashflow statement 16
Notes to the financial statements 17 - 26

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

TRUSTEES’ REPORT

REFERENCE AND ADMINISTRATIVE DETAILS

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE DETAILS

The Royal Society For the Prevention of Cruelty to Animals Isle of Wight Branch of RSPCA Godshill Animal Centre, Bohemia Corner, Godshill, Isle of Wight PO38 3NA is registered with the Charity Commission under charity number 205311 and is governed by the rules and regulations laid down by the Royal Society for the Prevention of Cruelty to Animals (RSPCA).

Trustees:

Susie Lockwood Peter Lockwood (resigned 08/05/2024) Panagiota Apostolaki Yvonne Goddard Lisa Livermore Fiona Hnatow Mike Hillcock Gemma Mosby Ellie Shavelar

Bankers:

Lloyds Bank, 22 St Thomas' Square, Newport PO30 1SQ

Auditor:

James Todd and Co Limited, Drayton House, Drayton Lane, Chichester, West Sussex, PO20 2EW

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is constituted as an unincorporated association operating as an autonomous Branch of the National RSPCA subject to its rules for Branches. Trustees are elected at every AGM by the members of the Branch and hold regular meetings throughout the year.

The day-to-day running of the Branch was delegated to Peter Tarrant, Branch Director until April 2024 and then to Steve Backhouse, Branch Director from July 2024.

During 2024 the charity’s trustees decided that there were advantages in becoming a Charitable Incorporated Organisation (CIO). The national charity are encouraging all local branches to make this change which makes it easier to own property and limits the individual liability of trustees. As such a new incorporated charity (number 1211128) was successfully registered with the Charity Commission and the intention is to transfer all assets to this new body during 2025.

RISK MANAGEMENT

The trustees actively review the risks which the charity faces on a regular basis, covering operational and financial aspects, and put systems in place to mitigate these risks.

AIMS AND OBJECTIVES, PUBLIC BENEFIT STATEMENT AND PRINCIPAL ACTIVITIES

The object of the charity is to promote kindness and good care, and prevent or suppress cruelty to animals. Our activities to achieve the objectives include:

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees have reviewed the outcomes and achievements of our objectives and activities for the year to ensure they remain focused on our charitable aims and continue to deliver benefits to the public.

Wider Community Benefit

Although our primary focus is on assisting animals, we also provide a wider community benefit. We support two local foodbanks with animal feed. Our charity shops provide a valuable source of low cost good quality upcycled goods to the benefit of the public and to the environment. Volunteering provides worthwhile work experience, companionship and the sense of achievement to those assisting our work.

Income Generation

Legacies

As in previous years, legacies provided the largest proportion of our income. During 2024 we gratefully accepted legacies totalling £199,476. This represents a reduction of £500,590 from the legacies received in 2023. We record our grateful thanks to everyone who left money to the Isle of Wight branch during the year.

Fundraising

The charity is grateful for the donations received and the support given to our fundraising events. Having reviewed our activity, we recognised that our fundraising was underdeveloped for a charity of our size. As a result, our fundraising team was restructured with Veronica Chrisp appointed as our Marketing & Fundraising Manager.

Business Support

We record our thanks for the support given by businesses. Lifeline vouchers from Pets at Home were used to purchase food and goods for the animals in our care, and a £18,000 grant from their Pets Foundation contributed to veterinary care and utility costs. Prestige Insurance assisted with a financial donation and volunteer time. Both Wightlink and Red Funnel supported the charity with free ferry crossings.

Shops

Our shops in Ventnor, Sandown and Newport operated throughout the year generating funds for the charity. Our Ventnor shop is owned outright and its strong sales generated a net profit of £61,395. This included the sale at auction of a rare Harry Potter first edition.

We renewed the lease of our Sandown shop for a further 5 years. Sales at Sandown were close to those at Ventnor and the shop made a net profit of £37,628. Sales dropped at our Newport shop, and as a result it made a net profit of £10,192.

New Ryde Shop

In July 2024 we opened a ‘pop-up’ shop on Ryde High Street. This traded successfully, however its smaller size limited sales. Nevertheless this demonstrated that a shop in Ryde could operate successfully supported by the local community.

In September 2024 we purchased a larger shop at 38 High Street. The purchase price of £60,500 was covered by a legacy, giving the charity a permanent base in Ryde and equating to 5 years rent. Following refurbishment, the new store opened in January 2025 and is trading successfully meeting its business plan

Bohemia Boarding

The charity owns Bohemia Boarding, which operates as a separate trading company with its own board of directors. In total we welcomed 1,317 boarding cats and dogs, representing a small increase on 2023. Total income was £128,140.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

During 2024 we worked to more accurately establish the true cost of running the boarding business. For the first time, the cost of utilities and a full allocation of staff was attributed to the trading company. Total expenditure was £125,623 resulting in a net profit of £2,517.

Prices were increased in the Autumn to better reflect the cost of operation, and concerted effort has been made to increase our marketing and generate new customers.

Branding

Taking the lead from the national Society, we rebranded the branch as RSPCA Isle of Wight, adopting a new logo and brand guidelines. Feedback from our team has been positive and we are confident that this more contemporary look will help us connect better with new audiences. The cost of new signage at our shops and animal centre was covered entirely by a grant from the national Society. Other items, such as team uniforms, are steadily being replaced when needed at minimal extra cost.

People

Employees

On 31 December 2024 the charity had 36 employees (the equivalent of 29 full-time positions). Of these, 9 employees (7 FTE) supported charity shops, with the remainder based at the animal centre.

Total employment costs were £702,809 (2023 £594,193). The increase in employment costs was primarily due to recruiting 10 additional employees, in addition to increases in the National Minimum Wage. With employment costs rising further in 2025, steps have been taken to reduce the overall headcount to a more sustainable level. No employee earned more than £60,000.

Trustees

All trustees give their time to the charity in an unpaid voluntary capacity. The repayment of expenses to trustees totalled £0 (nil).

Volunteers

The charity is supported by over 100 volunteers who make a valuable contribution to our activities. Many assist in looking after the animals in our care, whilst others support our fundraising activity in our shops and at events.

Our Future Strategy 2025-27

Following the arrival of our new Branch Director, the trustees reviewed the opportunities and challenges facing the charity and agreed an updated strategy covering 2025-27.

This work concluded by setting seven strategic goals which will drive our priorities for the next three years:

Goal 1: We will rehabilitate and rehome more animals

There is a growing need to help animals in need, both from the Island and elsewhere. We will increase our efficiency at rehabilitation and rehoming; reducing the time animals spend in a shelter environment.

Goal 2: We will generate £1 million+ each year

We need to reliably generate over £1 million each year to support our work. We will diversify our income, generating more from our shops, commercial boarding, grants, donations and legacies.

Goal 3: We will double the number of volunteers actively involved with our work

Volunteers already make a valuable contribution to our work. A larger team of volunteers will enable us to grow our capability and help more animals.

Goal 4: We will build a high-performing team

There is work to do to improve the efficiency and culture of our employee team. We will set clear goals and create a culture with great communication and teamwork.

Goal 5: Our shops will generate £200,000 per year

Operating a larger shop in Ryde will increase income. We will refurbish our Sandown, Newport and Ventnor stores over a 3-year period encouraging more shoppers and good-quality donations.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Goal 6: We will improve our visibility on the Island

We’ll use our shops, local events and effective digital marketing to improve our profile on the Isle of Wight as an affiliated independent charity.

Goal 7: We will improve our Dog Kennels

We recognise that our current facilities are out-dated. We will plan our future requirements, considering all options from updating our current building, to constructing completely new facilities.

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

Throughout 2024 the charity assisted 405 animals. As in previous years, relatively few animals arrived direct from the Society’s Inspectorate. Nevertheless, such cases are always treated as a priority and the charity’s team frequently assist the Island’s Animal Rescue Officer with his work. We also directed numerous callers reporting cruelty or abuse to the Society’s National Call Centre.

The majority of animals were accepted from members of the public on the Island. In many cases this was due to their owners suffering poor health, financial difficulties or passing away. We work closely with a number of other charities, particularly those who assist with the collection and rehabilitation of injured wildlife.

In addition, we supported mainland branches by accepting animals from the national waitlist, using our accommodation to help meet the national shortfall in available places.

Rehoming

During 2024 the branch rehomed 219 domestic animals (260 in 2023) comprising 40 dogs, 111 cats, 37 rabbits and 31 small animals. The introduction of online forms removed a barrier to potential adopters and increased marketing saw more animals finding new homes towards the end of the year. Our target is to extend this trend into 2025.

All animals received vet checks, and where appropriate, microchipping and neutering. Some animals required extensive veterinary treatment and in total we spent £67,576 on treatment and medical supplies during 2024.

Wildlife

In addition, we assisted 66 wild animals with 37 successfully released back to the wild following rehabilitation. Our main focus is on assisting mammals (primarily injured foxes and badgers) and large seabirds. We aim to enhance our facilities to further enhance this work.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Financial results and review

Total income for the year was £818,691 (2023 £1,284,908). The key change was a drop in legacy income which outweighed increases from retail, donations and Bohemia Boarding. Total expenditure was £1,131,142 (2023 £931,853).

This resulted in a deficit of £(312,451) (2023 surplus of £353,055.

The trustees recognise this shortfall and are working to control expenditure and invest appropriately in projects that will increase the charity’s income.

Reserves Policy

The Branch holds reserves in order that the service level provided for animal welfare is maintained should there be a reduction income. Reserves are those funds which are freely available for general purposes and uncommitted.

During 2024, the trustees’ policy was to hold unreserved cash funds equivalent to 12 months expenditure. On 31 December 2024 this would have amounted to approximately £1,131,141. Total reserves on this date stood at £3,410,820 and free reserves (reserves not held in fixed assets or restricted funds) stood at £556,792.

The Trustees subsequently reviewed the reserves policy and agreed that it was more appropriate for the charity to hold cash reserves equivalent to a minimum of 4 months of expenditure, with a target to increase this to 6 months. This level of reserves is considered adequate to cover the risk of unexpected expenditure or a drop in income.

Investment Policy

The trustees have wide powers of investment governed and restricted by the Royal Society for the Prevention of Cruelty to Animals Investment Act 1958. In addition, the trustees have agreed an Investment Policy for the Branch which governs the charity’s approach to its investments.

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TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees of the charity to provide financial statements each financial year which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enables them to ensure that the financial statements comply with The Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for ensuring that they have complied with the duty in section 4 of the 2006 Charities Act with regards to the public benefit statement.

Statement as to disclosure of information to auditors

So far as the trustees are aware there is no relevant audit information of which the charity's auditors are unaware and each trustee has taken all the steps that he ought to have taken as a trustee in order to make himself aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Auditor

In accordance with the charity’s articles, a resolution proposing James Todd & Co Limited be reappointed as auditor of the charity will be put at a General Meeting.

The trustees’ report was approved by the board of trustees on

20 / 06 / 2025

............................................. ………………………… M Hillcock – Trustee Y Goddard - Trustee

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INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

Opinion

We have audited the financial statements of Royal Society for the Prevention of Cruelty to Animals Isle of Wight Branch (‘RSPCA Isle of Wight Branch’) (the parent charity and its subsidiary) for the year ended 31 December 2024 which comprise the consolidated statement of financial activities, the consolidated and parent balance sheets, the consolidated and parent statements of cash flows and notes to the financial statements, including significant accounting policies. 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 Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the RSPCA Isle of Wight Branch in accordance with the ethical requirements that are relevant to out audit of the financial statements in the UK, including the FRC’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 to provide a basis for our opinion.

Conclusions relating to going 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 RSPCA Isle of Wight Branch’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s 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 we do not express any form of assurance conclusion thereon. Our responsibility is to read the information and, in doing so, consider whether the 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 are required 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.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

INDEPENDENT AUDITORS REPORT (CONTINUED)

TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities the trustees 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 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the RSPCA Isle of Wight Branch’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Identifying potential risks related to irregularities

We obtained an understanding of the laws and regulations that are applicable to the charity and determined those which could reasonably be expected:

•To have a direct effect on the determination of material amounts and disclosures in the financial statements. We determined that the most significant were the Charities Statement of Recommended Practice (FRS102); and

• To not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or avoid a material penalty. We determined that the most significant were health and safety, and employment law.

• We enquired to management as to their own assessment of risks in relation to fraud and irregularities and the internal controls they may have in place to mitigate the risks of fraud or non-compliance with laws and regulations;

• We evaluated management’s incentives and opportunity for fraudulent manipulation of the financial statements (including the risk of override of controls).

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

INDEPENDENT AUDITORS REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

Audit approach to risks identified

• We reviewed how the charity is complying with laws and regulations by making enquiries to management and senior employees. This was corroborated by review of correspondence received from regulatory bodies;

• We reviewed the financial statement disclosures and tested to supporting documentation to assess compliance with the Charities Act and accounting standards;

• We enquired to management concerning any actual or potential litigation and claims;

• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud or non compliance;

• We enquired whether management had any knowledge of any actual, suspected, or alleged fraud;

• We tested the appropriateness of journal entries and other adjustments to assess whether the judgements made in making accounting estimates are indicative of a potential bias. This included assessing the business rational of any significant transactions that are unusual or outside the normal course of business;

• We communicated the risks identified and the audit approach to be taken to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above.

The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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INDEPENDENT AUDITORS REPORT (CONTINUED) TO THE TRUSTEES OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

Use of our report

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Todd & Co Limited Chartered Accountants Statutory Auditor

24 / 06 / 2025

…………………………

Drayton House Drayton Lane Chichester West Sussex PO20 2EW

James Todd & Co Limited is eligible for appointment as auditor of the RSPCA Isle of Wight Branch by virtue of its eligibility for appointment as auditor of a company under Section 1212 of the Companies Act 2006.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Funds
2024
Notes£
Income from:
Donations and
legacies
2
294,841
Charitable activities
3
339,231
Other trading activities
4
142,959
Investments
5
4,706
Total income
781,737
Expenditure on:
Raising funds
6
3,677
Charitable activities
7
1,109,465
Total expenditure
1,113,142
Net income for the year
(331,405)
Transfers
18,954
Net movement in funds
(312,451)
Fund balances at 1
January 2024
3,698,271
Fund balances at 31
December 2024
3,385,820		 Restricted
funds
2024
£
36,954
-
-
-
36,954
-
18,000
18,000
18,954
(18,954)
-
25,000
25,000		 Total
2024
£
331,795
339,231
142,959
4,706
818,691
3,677
1,127,465
1,131,142
(312,451)
-
(312,451)
3,723,271
3,410,820		 Unrestricted
Funds
2023
£
796,446
302,224
179,463
2,787
1,280,920
1,391
930,462
931,853
349,067
3,988
353,055
3,345,216
3,698,271		 Restricted
funds
2023
£
3,988
-
-
-
3,988
-
-
-
3,988
(3,988)
-
25,000
25,000		 Total
2023
£
800,434
302,224
179,463
2,787
1,284,908
1,391
930,462
931,853
353,055
-
353,055
3,370,216
3,723,271

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets 13
Investments 14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Income funds
Restricted funds
18
General unrestricted funds
18		 £
2,559
255,899
385,842
644,300
(69,836)		 2024
£
2,829,028
7,328
574,464
3,410,820
25,000
3,385,820
3,410,820		 2023
£
£
2,816,778
7,420
3,451
315,816
613,435
932,702
(33,629)
899,073
3,723,271
25,000
3,698,271
3,723,271		 2023
£
£
2,816,778
7,420
3,451
315,816
613,435
932,702
(33,629)
899,073
3,723,271
25,000
3,698,271
3,723,271
3,723,271

20 / 06 / 2025

The financial statements were approved by the Trustees on .............................................

............................................. ………………………………. M Hillcock – Trustee Y Goddard - Trustee

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

CHARITY BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets 13
Investments 14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Income funds
Restricted funds
19
General unrestricted funds		 £
2,559
258,127
368,844
629,530
(57,615)		 2024
£
2,829,028
7,329
2,836,357
571,915
3,408,272
25,000
3,383,272
3,408,272		 2023
£
£
2,816,778
7,421
2,824,199
3,450
312,531
536,668
852,649
(23,942)
828,707
3,652,906
25,000
3,627,906
3,652,906

20 / 06 / 2025

The financial statements were approved by the Trustees on …..........................................

............................................. … …………………… ………. M Hillcock – Trustee Y Goddard - Trustee

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

CONSOLIDATED CASHFLOW STATEMENT

AS AT 31 DECEMBER 2024

2024 2024 2023 2023
Notes £
£
£		 £
Cash flows from operating activities
Cash generated from operations 1 (142,670) 78,021
Investing activities
Purchase of tangible fixed assets (89,721) (9,677)
Dividends and interest from investments 4,798 3,220
Net cash used in investing activities (84,923) (6,457)
Net increase in cash and cash equivalents (227,593) 71,564
Cash and cash equivalents at beginning of year 613,435
541,871
Cash and cash equivalents at end of year 385,842
613,435
NOTES TO CONSOLIDATED CASH FLOW STATEMENT
1 Reconciliation of net income/(expenditure) to net cash flow from operating activities
2024 2023
£ £
Net income for the reporting period (as per the
statement of financial activities) (312,451) 353,055
Adjustments for:
Depreciation charges 76,016 75,568
Dividends and interest from investments (4,798) (3,220)
Decrease/(increase) in investments 92 433
Decrease/(increase) in stock 892 (444)
Decrease/(increase) in debtors 59,917 (281,218)
(Decrease)/increase in creditors 37,752 (66,153)
Net cash provided by (used in) operating activities (142,670) 78,021
2 Analysis of changes in net debt
At 01.01.24 Cash flow At 31.12.24
£ £ £
Cash at bank and in hand 613,435 (227,593) 385,842
613,435 (227,593) 385,842

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

PARENT CHARITY CASHFLOW STATEMENT

AS AT 31 DECEMBER 2024

2024 2024 2023 2023
Notes £
£
£		 £
Cash flows from operating activities
Cash generated from operations 1 (82,901) 157,771
Investing activities
Purchase of tangible fixed assets (89,721) (9,677)
Dividends and interest from investments 4,798 3,220
Net cash used in investing activities (84,923) (6,457)
Net increase in cash and cash equivalents (167,824) 151,314
Cash and cash equivalents at beginning of year 536,668 385,354
Cash and cash equivalents at end of year 368,844 536,668
NOTES TO CONSOLIDATED CASH FLOW STATEMENT
1 Reconciliation of net income/(expenditure) to net cash flow from operating activities
2024 2023
£ £
Net income for the reporting period (as per the
statement of financial activities) (244,634) 320,127
Adjustments for:
Depreciation charges 76,016 75,568
Dividends and interest from investments (4,798) (3,220)
Decrease/(increase) in investments 92 433
Decrease/(increase) in stock 891 (444)
Decrease/(increase) in debtors 54,404 (192,487)
(Decrease)/increase in creditors 35,128 (42,206)
Net cash provided by (used in) operating activities (82,901) 157,771
2 Analysis of changes in net debt
At 01.01.24 Cash flow At 31.12.24
£ £ £
Cash at bank and in hand 536,668 (167,824) 368,844
536,668 (167,824) 368,844

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

1.1 Accounting convention

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The consolidated financial statements incorporate the financial statements of Royal Society for the Prevention of Cruelty to Animals Isle of Wight Branch and its subsidiary RSPCA Isle of Wight Trading Company Limited to 31 December each year. The accounts have been consolidated on a line by line basis and intra group transactions have been eliminated on consolidation.

1.2 Charitable funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the group and which have not been designated for other purposes.

Restricted funds can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The costs of raising and administering such funds are charged against the specific fund.

1.3 Going concern

The accounts are prepared on a going concern basis, further details are provided in the Trustees Report.

1.4 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Legacies are recorded when it is probable that they will be received, using the best estimate of their value. A legacy is deemed to be probable once probate has been granted, or the executors have established that there are sufficient assets in the estate, after settling any liabilities, to pay the legacy. When payment is received from the estate, any variation in this amount will be treated as an adjustment.

Donations are recognised on receipt. Income tax recoverable on donations received under Gift Aid or deeds of covenant is recognised at the time of donation.

Grants are recognised on a receivable basis. The balance of income not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received the income is accrued.

Donated goods to be used as fixed assets are measured at fair value, unless this is impractical, in which case the cost of the item to the donor is used. The gain is recognised as income from donations, and a corresponding amount included in the appropriate fixed asset class and depreciated over its useful economic life in line with accounting policies.

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1.4 Income (continued)

Donated professional services and facilities are recognised on the basis of the value of the gift to the charity, which is the amount it would have been willing to pay to obtain equivalent services on an open market basis. A corresponding amount is recognised as a cost in the period of receipt.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 activity, and the costs of each activity are made up of direct costs and shared costs, including support costs. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned to activities on a basis consistent with the use of the resources. Central staff costs are allocated on the basis of time spent, and depreciation in line with the assets use.

Expenditure on raising funds includes all expenditure incurred by the group to raise funds for its charitable purposes and includes costs of all fundraising activities, events, and non-charitable trading.

1.6 Tangible fixed assets

Tangible fixed assets costing £500 or more are capitalised and included at cost, including all costs incurred to bring the asset into its intended working condition.

Depreciation is provided on tangible fixed assets, at rates calculated to write off the cost of each asset over its anticipated useful life as follows:

Freehold property 2% on Cost Plant and equipment 15% Reducing balance Motor vehicles 25% Reducing balance Computer equipment 25% on Cost

1.7 Investments

Investments in listed entities are initially recognised at cost, or where such assets are donated at the fair value at the date ownership passed to the charity. Subsequently, listed investments are measured at fair value through the profit or loss account. Fair value will be determined by the active market price. Investment gains and losses, whether realised or unrealised are combined and presented as Gains/(losses) on investments in the consolidated statement of financial activities.

Investments in unlisted entities, including subsidiaries, are measured at cost less provision for impairment as no fair value can be reliably determined

1.8 Stocks

Stock is valued at the lower of cost and net realisable value. In determining the value, cost is the cost incurred in bringing each product to its present location and condition. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal.

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1.9 Basic financial liabilities

Creditors and provisions

Short term creditors are measured at transaction (invoice) price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method

1.10 Pension costs

The charity operates a defined contribution pension scheme. Contributions payable to the scheme are charged to the consolidated statement of fina ncial activities in the period to which they relate.

1.11 Operating leases

Rentals paid under operating leases are charged to the consolidated statement of financial activities on a straight line basis over the term of the lease.

2. Donations and legacies

3.


Donations and gifts
Legacies receivable
Grants
Other income
Analysis by fund
Unrestricted funds
Restricted funds
Charitable activities
Animal re-homing and fundraising		 Total
funds
2024
£
54,405
199,476
77,914
-
331,795
294,841
36,954
331,795
Total
funds
2024
£
339,231
339,231		 Total
funds
2023
£
44,052
700,066
36,974
19,342
800,434
796,446
3,988
800,434
Total
funds
2023
£
302,224
302,224

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

4.
Other trading activities
Events
Commercial boarding
Rent receivable
Other income
5.
Investments

Change in MV of listed investments
Dividends and interest received
6.
Expenditure on raising funds
Costs of raising voluntary income
Purchases		 Unrestricted
Funds
2024
£
2,727
136,632
2,237
1,363
142,959
Unrestricted
funds
2024
£
(92)
4,798
4,706
Unrestricted
Funds
2024
£
3,677
3,677		 Unrestricted
Funds
2023
£
5,244
173,459
760
-
179,463
Unrestricted
funds
2023
£
(433)
3,220
2,787
Unrestricted
Funds
2023
£
1,391
1,391

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

7. Charitable activities

7. Charitable activities
Total Total
funds funds
2024 2023
£ £
Share of support costs (see note 9) 67,439 62,467
Share of direct costs (see note 8) 1,060,026 867,995
Total Animal home and fundraising 1,127,465 930,462
Analysis by fund
Unrestricted funds 1,109,465
930,462
Restricted funds 18,000 -
1,127,465 930,462
8. Direct Costs
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Staff costs 610,773 512,193
Staff costs - boarding 92,036 82,000
Depreciation 76,016 75,444
Shop rent 25,050 19,550
Rates and water 8,161 6,359
Insurance 6,353 5,335
Light & heat 49,451 26,894
Telephone, postage and stationery 7,196 8,589
Sundry expenses 7,633 -
Food costs 18,154 10,506
Veterinary fees 69,570 58,550
Other animal costs 9,276 6,727
Repairs and renewals 33,208 12,159
Cleaning and waste disposal 15,027 15,264
Recruitment and training 6,248 7,937
Travel costs 8,558 8,092
Other staff costs 16,009 3,233
Administration expenses 1,307 7,056
Bad and doubtful debts - 2,106
1,060,026 867,995

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

9. Support costs


Administration costs
Publicity
Legal and professional fees
Headquarters admin fee
Governance costs
Auditors remuneration		 Unrestricted
funds
2024
Unrestricted
funds
2023
£
£
27,655
17,925
2,759
2,000
15,361
13,778
6,371
12,787
75
3,450
15,218
12,527
67,439
62,467		 Unrestricted
funds
2024
Unrestricted
funds
2023
£
£
27,655
17,925
2,759
2,000
15,361
13,778
6,371
12,787
75
3,450
15,218
12,527
67,439
62,467
62,467

10. Trustees

There were no trustees’ remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

There were no trustees’ expenses paid for the for the year ended 31 December 2024 (2023:£1,489).

11. Employees – Group and Charity

Wages and salaries
Social security costs
Pension costs		 2024
£

648,105
45,034
9,670
702,809		 2023
£
531,047
51,579
11,568
594,194

Group and Charity - the average monthly number of employees during the year was:

2024 2023
32 26

Defined contribution pension

Amount charged to the statement of financial activities as an expense in the year £9,670 (2023: £11,568). There were no employees whose annual remuneration was more than £60,000.

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

12. Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13. Tangible fixed assets – Group and Charity

Freehold
property
Plant and
equipment
Motor
vehicles
£
£
£
Cost
At 1 January 2024
3,676,567
70,528
33,535
Additions
60,404
26,356
-
Disposals

(2,265)
-
3,736,971
94,619 33,535
At 31 December 2024
Depreciation and impairment
At 1 January 2024
895,479
45,190
24,103
Depreciation charged
66,867
5,338
2,947
Eliminated on disposals
(822)
-
At 31 December 2024
962,346
49,706
27,051
Carrying amount
At 31 December 2024
2,774,625
44,913
6,484
At 31 December 2023
2,781,086
25,338
9,432
14.
Fixed assets investments
Group
2024
£
2023
£

Listed investments
Fair value
At 1 January 2024
7,420
7,853
Revaluations
(92)
(433)
At 31 December 2024
7,328
7,420
The listed investments are shares bequeathed to the charity
Invested in subsidiary at cost
-
-
Total fixed asset investments
7,328
7,420		 Motor
vehicles
£
33,535
-
-



Computer
equipment
Totals
£
£
1,734
3,782,364
2,961
89,721
(324)
(2,589)
4,371 3,869,496
812
965,584
864
76,016
(311)
(1,133)
1,365
1,040,468
3,006
2,829,028
922
2,816,778
Charity
2024
£
2023
£
7,420
7,853
(92)
(433)
7,328
7,420
1
1
7,329
7,421

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

15. Stocks – Group and Charity


Goods for use by the charity		 2024
£
2023
£
2,559
3,450

16. Debtors: amounts falling due within one year


Trade debtors
Other debtors
Prepayments and accrued income
VAT
Legacies		 Group
2024
£
2023
£

4,785
13,801
4,482
3,745
7,652
4,193
11,939
2,519
227,041 291,558
255,899
315,816		 Charity
2024
£
2023
£

4,374
9,374

4,432
3,745

6,976
4,193

15,304
3,661
227,041
291,558

258,127
312,531

There were no debtors due after more than one year.

Creditors: amounts due within one year

17.


Trade creditors
PAYE and National Insurance
Other creditors
Accruals and deferred income
Amounts due to subsidiary
Movement in funds – Group
At
01/01/24
£
Unrestricted funds
General funds
3,698,271
Restricted funds
Cattery equip fund
Misc fund
25,000
-
TOTAL FUNDS
3,723,271		 Group
2024
£
2023
£

23,102
8,841
10,973
-
382
2,834
35,379
21,954
-
-
69,836
33,629
Incoming
Resources
Resources
expended
£
£
781,737
(1,113,142)
-
36,954
-
(18,000)
818,691
(1,131,142)		 Group
2024
£
2023
£

23,102
8,841
10,973
-
382
2,834
35,379
21,954
-
-
69,836
33,629
Incoming
Resources
Resources
expended
£
£
781,737
(1,113,142)
-
36,954
-
(18,000)
818,691
(1,131,142)		 Charity
2024
£
2023
£

20,722
8,738

10,973
-

382
2,834

17,045
8,500
8,493
3,870

57,615
23,942
At
Transfers
31/12/24
£
£
18,954
3,385,820
-
(18,954)
25,000
-
-
3,410,820

18. Movement in funds – Group

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

19. Movement in funds – Charity

20.

At
Incoming
01/01/24
Resources
£
£
Unrestricted funds
General funds
3,627,906
835,482
Restricted funds
Cattery equip fund
Misc fund
25,000
-
-
36,954
TOTAL FUNDS
3,652,906
872,436

Analysis of net assets between funds – Group
Unrestricted
funds
£
Restricted
funds
£
Fixed assets
2,836,356
-
Current assets
619,300
25,000
Current liabilities
(69,836)
-
3,385,820
25,000		 Resources
expended
£
(1,099,070)
-
(18,000)
(1,117,070)
Total funds
31/12/2024
£
2,836,356
641,300
(69,836)
3,410,820		 Transfers
£
18,954
-
(18,954)
-
Total Funds
31/12/2023
£
2,824,198
932,702
(33,629)
3,723,271		 At
31/12/24
£
3,383,272
25,000
-
3,408,272
Analysis of net assets
Fixed assets
Current assets
Current liabilities		 between funds –
Unrestricted
funds
£
2,836,357
604,530
(57,615)
3,383,272		 Charity
Restricted
funds
£
-
25,000
-
25,000		 Total funds
31/12/2024
£
2,836,357
629,530
(57,615)
3,408,272		 Total Funds
31/12/2023
£
2,824,199
852,649
(23,942)
3,652,906

21. Details of funds

Cattery equipment fund

Funds relate to a grant received in a previous year restricted to use towards building and the provision of equipment, fixtures and fittings in the cattery.

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS ISLE OF WIGHT BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

22. Prior year comparatives for movement in funds - Group

Unrestricted funds
General fund
Restricted funds
Cattery equipment fund
Total fund		 Balances at
01/01/2023
£
3,345,216
25,000
3,370,216		 Income
£
1,280,920
3,988
1,284,908		 Expenditure
£
(931,853)
-
(931,853)		 Transfers
£
3,988
(3,988)
-		 Balance at
31/12/2023
£
3,698,271
25,000
3,723,271

23. Prior year comparatives for movement in funds - Charity

Unrestricted funds
General fund
Restricted funds
Cattery equipment fund
Total fund		 3,307,780
25,000
3,332,780		 1,232,439
3,988
1,236,427		 (916,301)
-
(916,301)		 3,988
(3,988)
-		 3,627,906
25,000
3,652,906

24. Operating lease commitments – Group and Charity

Less than 1 year
Within 1 – 5 years		 2024
£
20,800
27,600
48,400		 2023
£
14,800
33,300
48,100

25. Related party transactions

There were no related party transactions in the year to 31 December 2024.

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Doc ID: bd0abafd17c9301ce4c451d94c704581d26d3187