**REGISTERED COMPANY NUMBER: 00185577 (England and Wales) REGISTERED CHARITY NUMBER: 207120** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024** **for** ## **BRITISH HUMANE ASSOCIATION** Knox Cropper LLP Chartered Accountants 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ **BRITISH HUMANE ASSOCIATION** **Contents of the Financial Statements for the Year Ended 31 December 2024** **Page Report of the Trustees** 1 to 4 **Independent Examiner's Report** 5 **Statement of Financial Activities** 6 **Balance Sheet** 7 to 8 **Notes to the Financial Statements** 9 to 15 **BRITISH HUMANE ASSOCIATION (REGISTERED NUMBER: 00185577)** **Report of the Trustees for the Year Ended 31 December 2024** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, 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 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The primary aim of the company, which is a registered charity, is the promotion of benevolence for the good of humanity and the community, through grant making. The directors of the Association have decided, that in order to increase the amount available for grant distribution to beneficiaries, they will transfer funds to other charitable organisations, which have in place systems for identifying and assisting deserving cases in need. By so doing, they will not duplicate selection processes and the resultant costs. It is the intention that any one or more of the directors will examine requests for assistance received and submit a proposal to the board to award a one-off, set period or continuing grant to any body, which has applied for assistance. Three classes of charities have been designated to receive support in accordance with our Articles of Association these are: Charities directly involved in the relief of inhumane activities Charities distributing grants to individuals Charities providing relief of poverty, sickness or benefit to the community. ## **Public benefit** When setting the objectives and planning the work of the Charity for the year, the trustees have given careful consideration to the Charity Commission's general guidance on public benefit and are of the view that the principles are clearly met. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The charity's main source of income is generated through investments. The income received is used to determine the grants to be made usually in May and November. During the year, in pursuit of its humane objectives, the company made grants for charitable purposes amounting to £162,967 (2023: £161,900). Income from investments and deposits totalled £136,040 (2023: £119,724). Realised and unrealised gains for the year were £398,907 (2023: losses £303,669), resulting in a net income for the year of £317,169 (2023: net income £217,912). As a result of the realised and unrealised investment gains mentioned above, the value of the Charity's investments rose from £5.458m last year to £5.634m at 31 December 2024. 2024 was a strong period for equity markets, with the MSCI All-Countries Index delivering a total return of 21% in Sterling terms. US Equities generated the majority of the returns, with the S&P 500 idea up by 27% during the period. UIs equity returns were driven by strong share price appreciation in the market’s so-called ‘magnificent seven’ stocks, a group of IT-focussed companies that represent the world’s largest quoted stocks. As was the case for much of the previous two years, investors focussed on the potential paths for inflation and interest rates. Concerns about fiscal deficits, and inflation rates that were slower to fall to central bank targets than had been hoped, resulting in lacklustre returns from fixed income assets during the period, though corporate bonds outpaced government issues. Against this background the fund rose by 9.92% gross (9.26% net); while this was benching the benchmark’s return of 15.1%, it was ahead of the return for the average charity in the ARC Steady Growth Universe of 8.2%. Page 1 Pag8 1 **BRITISH HUMANE ASSOCIATION (REGISTERED NUMBER: 00185577)** **Report of the Trustees for the Year Ended 31 December 2024** ## **FINANCIAL REVIEW** ## **Investment policy and objectives** The directors have appointed professional managers with discretionary powers to invest. They have been provided with an Investment Policy Statement approved by the Trustees. This document states that the investment objective is to achieve long term capital appreciation at least sufficient to offset the impact of inflation and at the same time to generate a reasonable level of income to meet our charitable expenditure needs. The Investment Policy Statement is regularly reviewed by the directors. The granting of discretionary powers is on the understanding that the fund will consist of fixed interest and equity investment with no bar upon the purchase of high quality overseas stocks or specialist trusts. The composition of the portfolio is assessed by the Investment Advisers to ensure that it is appropriately positioned to respond to prevailing market conditions. ## **Restrictions** The Directors regularly review what restrictions to place upon investments which can be made by the Advisers . At the present time the only restriction is that no investment can be made in the shares of companies which manufacture tobacco products. ## **Reserves policy** Whilst the Association has very low administrative costs, the amount of investment income is fairly consistent each year. Consequently the investment income achieved in the year is used to determine the level of grants to be made in the following year. The directors have agreed that future grants in any one year should total up to 4% of the capital value of the portfolio as at the end of the previous financial year. This is regarded as a ceiling and not a target. It will be reviewed at all Board Meetings in order to consider any material movement in portfolio values since the end of the previous financial year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** British Humane Association was established on 8th November 1922 as a company limited by guarantee, incorporated on 8th November 1922, and registered as a charity on 22nd September 1962. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. The members are liable for the debts and liabilities of the Association to an amount not exceeding £1 per member in the event of a winding-up during their membership, or within one year afterwards. ## **Recruitment and appointment of new trustees** The governors of the company appoint the directors. Each of the governors appoints three directors. When a vacancy occurs the appropriate governor makes the appointment. ## **Organisational structure** The board meets twice a year to receive reports from the Company Secretary and the Investment Advisers. The Articles of Association require that a quorum of at least three members be present when the meeting proceeds to business. ## **Induction and training of new trustees** Directors are selected for their financial, investment and business abilities and also with a knowledge of charitable activities. Appropriate induction and training is given so that they may contribute effectively to the governance of the company. They are made aware of the statutory obligations as a director and as a trustee. ## **Risk management** The trustees have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. ## **Compliance, GDPR , Policies and Procedures** Policies addressing Conflict of Interests, Data Protection and Safeguarding are in place. Page 2 **BRITISH HUMANE ASSOCIATION (REGISTERED NUMBER: 00185577)** ## **Report of the Trustees for the Year Ended 31 December 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 00185577 (England and Wales) ## **Registered Charity number** 207120 ## **Registered office** FoxSE Consultancy Cardiff House Cardiff Road Vale of Glamorgan CF63 2AW ## **Trustees** For the purposes of charity law, the directors are the trustees of the charity. ## **Governors** The following were governors of the charity: The Campbell-Johnston Family The Order of St John The Guild of Freemen of the City of London The directors of the charity, who were appointed by the Governors of the charity, for all or part of the year were: ## **Campbell Johnston Family** Ms Anna Michele Campbell-Johnston Mr Edward William Campbell Campbell-Johnston (Chairman) Mr James Andrew Campbell Campbell-Johnston - appointed 22 May 2024 Ms Rachel Frances Campbell-Johnston - resigned 22 May 2024 MA PHD ## **The Order of St John** Mr Duncan Cantlay - resigned 22 May 2024 TD DL Mr Richard Edward Makepeace Mrs Georgina Rebecca May Brooks Ms Ellin Nina Zomaya - appointed 6.November 2024 **The Guild of Freemen of the City of London** Mrs Anne Elizabeth Holden Mr Chris John Walton - appointed 22 May 2024 Dr John Alexander Smail JP BDS(HONS) LDS RCS FSAScot **Company Secretary** Mrs S E Fox Page 3 **BRITISH HUMANE ASSOCIATION (REGISTERED NUMBER: 00185577)** ## **Report of the Trustees for the Year Ended 31 December 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Independent Examiner** Knox Cropper LLP Chartered Accountants 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ 2025-06-27 Approved by order of the board of trustees on ............................................. and signed on its behalf by: Sarah Fox Signed on 27/06/25 @ 12:20 ................................................................. Mrs S E Fox - Secretary Page 4 **Independent Examiner's Report to the Trustees of British Humane Association (Registered number: 00185577)** ## **Independent examiner's report to the trustees of British Humane Association ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Knox Cropper LLP Signed on 27/06/25 @ 12:35 ## Stephen Anderson Knox Cropper LLP Chartered Accountants 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ Date: ............................................. Page 5 ## **BRITISH HUMANE ASSOCIATION** ## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
4
Grants
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2024**
**Unrestricted**
**fund**
**£**
**136,040**
**33,702**
**184,076**
**217,778**
**398,907**
**317,169**
**5,486,723**
**5,803,892**|2023
Total
funds
£
119,724
32,153
173,328
205,481
303,669
217,912
5,268,811
5,486,723| |---|---|---| The notes form part of these financial statements Page 6 **BRITISH HUMANE ASSOCIATION (REGISTERED NUMBER: 00185577)** ## **Balance Sheet 31 December 2024** |Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|**2024**
2023
**Unrestricted**
Total
**fund**
funds
**£**
£
**5,634,302**
5,457,731
**3,347**
33,994
**169,243**
28,606
**172,590**
62,600
**(3,000)**
(33,608)
**169,590**
28,992
**5,803,892**
5,486,723
**5,803,892**
5,486,723
**5,803,892**
5,486,723
**5,803,892**
5,486,723| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 7 continued... **BRITISH HUMANE ASSOCIATION (REGISTERED NUMBER: 00185577)** ## **Balance Sheet - continued 31 December 2024** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 2025-06-26 Edward Campbell-Johnston Signed on 26/06/25 @ 10:37 ............................................. E W Campbell-Johnston - Trustee The notes form part of these financial statements Page 8 **BRITISH HUMANE ASSOCIATION** **Notes to the Financial Statements for the Year Ended 31 December 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## **Investments** Investment income is recognised in the statement of financial activities when the income becomes payable and is grossed up for tax recoverable, where appropriate. Investment assets are valued at market value at the balance sheet date. Realised gains and losses on investments are arrived at by comparing the net sale proceeds with the market value at the end of the previous financial year; unrealised gains and losses represent the difference between the market value of investments still held at the end of the financial year with their value at the beginning of the year or with their cost, if purchased subsequently. ## **2. INVESTMENT INCOME** |Investment income
**3.**
**RAISING FUNDS**
**Investment management costs**
Management fees|**2024**
**£**
**136,040**
**2024**
**£**
**33,702**|2023
£
119,724
2023
£
32,153| |---|---|---| |||| Page 9 continued... **BRITISH HUMANE ASSOCIATION** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **4. CHARITABLE ACTIVITIES** |Grants
**5.**
**GRANTS PAYABLE**
Grants|Direct
Costs
£
**565**|Grant
funding of
activities
(see note
5)
£
**162,967**|Support
costs (see
note 6)
£
**20,544**
**2024**
**£**
**162,967**|Totals
£
**184,076**
2023
£
161,900| |---|---|---|---|---| Page 10 continued... **BRITISH HUMANE ASSOCIATION** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **5. GRANTS PAYABLE - continued** The total grants paid to institutions during the year was as follows: ||**2024**|2023| |---|---|---| ||**£**|£| |The Order of St John St John Jerusalem Eye Hospital|**15,000**|-| |Genesis Trust|**5,000**|-| |Medical Engineering Resource Unit|**-**|6,000| |The 3H Foundation|**-**|5,000| |Hope for Tomorrow|**5,000**|-| |Edinburgh Young Carers|**5,000**|-| |Off The Fence|**5,000**|-| |Village Water|**4,000**|-| |The Mango Tree|**7,000**|-| |Kid's Club Kampala|**-**|5,000| |Pipal Tree|**-**|5,000| |African Childrens Fund|**3,500**|-| |Childrens Adventure Farm Trust|**-**|6,000| |Edinburgh Headway|**-**|5,000| |Mitchell's Miracles|**5,000**|-| |Teen Action|**-**|2,000| |REACT|**4,500**|-| |Chance for Childhood|**-**|6,000| |The Hands Up Foundation|**-**|6,000| |InterAct Stroke Support|**3,400**|-| |Child Autism UK|**5,000**|-| |The Happy and Healthy Trust|**-**|5,000| |Children Ahead|**-**|4,000| |Hearts and Minds|**-**|5,000| |The Children's Heart Foundation|**-**|6,000| |Dean & Cauvin Young People's Trust|**-**|4,000| |Muscular Dystrophy|**-**|3,000| |Care for Carers|**-**|3,000| |Families Outside|**-**|4,000| |Susex Nightstop|**-**|5,000| |Afghanistan & Central Asian Association|**-**|10,000| |Home from Hospice Care|**-**|5,000| |Jewish Volunteering Network|**-**|5,000| |Dementia Friendlly Parishes around the Yealm|**-**|5,000| |Achieved Dreams|**-**|5,400| |Anne Robson Trust|**-**|4,500| |ENYP|**-**|5,000| |Helen Arkell Dyslexia Charity|**-**|5,000| |Margaret Pyke Trust|**-**|5,000| |Pain Concern|**-**|2,000| |Support After Murder & Manslaughter|**-**|5,000| |Victoria's Promise|**-**|5,000| |World Sight Foundation|**-**|10,000| |Waterloo Community Counselling|**-**|5,000| |The Wingate|**5,000**|-| |Trio Uganda|**5,000**|-| |Reaching The Unreached|**5,000**|-| |Grief Encounter|**5,000**|-| |Global Care International|**3,000**|-| |Freedom Community|**3,000**|-| |Sunrise Partnership|**5,000**|-| Page 11 continued... **BRITISH HUMANE ASSOCIATION** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **5. GRANTS PAYABLE - continued** |GJ Library
Horsham Matters
The Feed Foundation
Emerge 3RS
Children On The Edge
Nicodemus
Winchester & District
Just Be A Child
Oakleaf Enterprise
World Medical Fund
Ompass Disability
Seekenya|**5,000**
**4,000**
**5,000**
**10,000**
**5,839**
**5,000**
**5,228**
**5,000**
**5,000**
**5,000**
**2,000**
**7,500**
**162,967**|-
-
-
-
-
-
-
-
-
-
-
-
161,900| |---|---|---| ## **6. SUPPORT COSTS** Support costs, included in the above, are as follows: |Secretary's expenses
Bank charges
IT Software and Consumables
Sundries
Secretary's fee
Independent examiners fee|**2024**
Grants
**£**
**767**
**135**
**143**
**4,250**
**11,949**
**3,300**
**20,544**|2023
Total
activities
£
**480**
**122**
**-**
**-**
**8,000**
**2,826**
**11,428**| |---|---|---| Page 12 continued... **BRITISH HUMANE ASSOCIATION** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **8. FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 January 2024
Additions
Proceeds of disposal
Unrealised gains/(losses)
Realised gains/(losses) on disposal
At 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023|Listed
investments
£
**5,457,731**
**3,984,945**
**(4,207,281)**
**99,584**
**299,323**
**5,634,302**
**5,634,302**
5,457,731| |---|---| Included within listed investments were investment assets outside the UK of £3,708,801 (2023: £2,608,280). Cost or valuation at 31 December 2024 is represented by: |Valuation in 2024
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income|**2024**
**£**
**3,347**|**Listed**
**investments**
**£**
**5,634,302**
2023
£
33,994| |---|---|---| |||| Page 13 continued... **BRITISH HUMANE ASSOCIATION** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Bank loans and overdrafts (see note 11)
Accrued expenses
**11.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**12.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
**5,486,723**
**TOTAL FUNDS**
**5,486,723**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**136,040**
**(217,778)**
**TOTAL FUNDS**
**136,040**
**(217,778)**
**Comparatives for movement in funds**
At 1.1.23
£
**Unrestricted funds**
General fund
5,268,811
**TOTAL FUNDS**
5,268,811||**2024**
**£**
**-**
**3,000**
**3,000**
**2024**
**£**
**-**
Net
movement
in funds
£
**317,169**
**317,169**
Gains and
losses
£
**398,907**
**398,907**
Net
movement
in funds
£
217,912
217,912|2023
£
30,944
2,664
33,608
2023
£
30,944

At
31.12.24
£
**5,803,892**
**5,803,892**
Movement
in funds
£
**317,169**
**317,169**

At
31.12.23
£
5,486,723
5,486,723| |---|---|---|---| ||||| ||||| ||||| Page 14 continued... **BRITISH HUMANE ASSOCIATION** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **12. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
119,724
119,724|Resources
expended
£
(205,481)
(205,481)|Gains and
losses
£
303,669
303,669|Movement
in funds
£
217,912
217,912| |---|---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.23
£
5,268,811
5,268,811|Net
movement

in funds
£
535,081
535,081|
At
31.12.24
£
5,803,892
5,803,892| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
255,764
255,764|Resources
expended
£
(423,259)
(423,259)|Gains and
losses
£
702,576
702,576|Movement
in funds
£
535,081
535,081| |---|---|---|---|---| ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2024. Page 15