Docusign Envdwe ID.. 5F795C6&DF22471c.98E6715CnF5 R•giSt•r•d number: 00231435 hiity numb•rn: 207823 & SC039289 THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ADIDH J97* 2011212024 COMPANIES H(XJSE 232
Oo¢Ltstgn ErNdope ID. SF795cO&DF22471c-9887l94XF7FS ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS Page Relevence and Adminiatrntlve Detail ofth• Chavity. N8 Tru8tw and Adv••vs Trutee8' Report 13 Indep•nd•rt Audllof8 Roport on th•Flnanclal Stat•monts Consolldatod Statgment of Flnancial Activit 1¥17 18 consolidat 8alanc• Shert 19 Charfty Balan¢• Sho•t Consolldat¢d Statom•nt of C••h Flows 20 21 Notes to the Flnanclal Slat•m 22-50 Pa9e 1
DO1 Envelope ID.. SF795cWDF22471C-9BE1l8•5GF7FS THE ROYAL SOCIEfY FOR THE PREVENTION OF ACCIDENTS REFERENCE ANO ADPAWISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Truslges K Augustin (appointed 19 hwil 20231 lye A ClJk (Honorary Treasurer) 3 yews Johnson 1 year S Jones I79ned 29 N(r4ember 2W241 3 years S Kirk 5 years J McNulty ISIgned 29 Novener 21y24) 10 years P Mc Rudden (appointed 3 Apnl 20241 O years G Paiker 6 years M Parker Ichaimwn) 15 years M Watson (appointed 19 Apnl 20231 ly N SThuth {aOinted 12 September 24) O years Reglstered company number 00231435 Charlty registsrod numl>•rn 207823 and SC039289 Reglstered offlce 28 Callhorpe Road Edgbaston Bifmingham B15 1RP Comp•ny sKrotary T Hussain Chiof exocutiv• officer M Parker- Executive chair {apwnted 1 Nn%)er 2023. resigned 31 March 2024) E Taylor Irestgned 1 November 20231 R Hickm {appointed 1 Wil 20241 Ex•cullve T•am S Cole R Hickman M Kjein T Rudge J Small Director of Polw. Campayns and PublicAffairs (appointed 14 August 20231 Relationships Director Chief Finance Officer (appointed 1 uSt 21r231 0perkn.ons Director AchieverYnts Director Ind•p•ndenl auditor BDO LLP Two Snowhill Bimiingham Page 2
Do9n Erpel0.. 5F7g5C6W22471C-9eEE8719I5CF7Fs ThE ROYAL SOCIEfY FOR THE PREVENTION OF ACCK)ENTS REFERENCE AND ADIIiNISTrATNE DETALS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Bankevs Lloyds Bank plc 142 Edgbaston Park Road Birmingham 8152TY Sollcitorn Veale VVasbtX(Mwh Visards Second Floor 3 Brin Place Birmingham 812JB Fund Mana9•r4 Rathbone Brothers Fk 8 Finsbury Circus London EC2M 7AZ Patron His Majesty the lfjng Llfetlme Pr•sident Lord Jordan of Boumvile CBE Pve8idont Baroness Jolly of COn'S Shop (retired 17 April 2024) Ice Prn$id•nt Baroness Eaton of Cottingley DBE. DL Baroness Watkin$ ofTavtstock (appowiw 4 September 21r241 Page 3
Dpcu8ign Enslope ID.. 5F79Sc6F22471C.98E>E8719l5CF1F5 THE ROYAL SOCETY FOR THE PREVEKlloN OF ACCI)Erirs TRUSTEES. REpoirr THE YEAR ENDED 31 MARCH 2024 GOv•Man and Int•rnal Com The Royal Society for the Prevenlim of kcidents {"RoSPA"l ts govemed by 115 Memorandum and A"cle9 of Assca"ab"on onginally dated 17 May 1951 and last amended 9 Deeember 2023. The Society has mernbe, who may be individuals or C()rate bodies. ROSPA also has Honorary Members. apinted al Ihe discretion of ROSPA'S Board ol Twstees {krwn as Ihe"Bo8rd"). As sel out in the Articles of A8sociab(Yt. ROSPA bs go¥emed by the 803rd. The TNstee5, of whom there afe currenty 9, are elected annualy. The Trustees ncffiinate Ihose persons that they wish to be Trustees for appointment by the Mefflte in Ihe notice of the Annual General Meeting. Ml retiring Trustees are eligible for reappointment assuming ottr Cfileria requirenEnts are meL Trustees must be aged 18 or more and have an interest in or thlls, experience or knowledge relev1 to the woth of the Society. The Member5 shall then approve appointments at ttte Annual General Meeting. The nLvm tern of office is 3 years, whi¢h may be extended for a second tem of 3 years. Excepts'onaHy. the Officets of Charity my serye longer periods, al the discrelic of the Boar(I, who will cary out a fvll revi ofthe rÈax5 and rn1181e for lh8 extended of sgpiice. The requirement for new Tnjstees anses on the retirement or SIgnatIon of exists.ng Trustees or where the Nominations Committee identifies the need new 5kth. In selecb'ng TTUStees the Board seeks lo achieve a fange of sktlls and experience appropriate to the mrssion and ObjVe$ of the SoeAety as Ihe UICS leading safety ch. Trustees may t¢ rwurted frIMn, or on the recomm10n of, organisaiions that encompass particular skils sets or professional SlIs. Huwever. appointrnent of a Trustee is based on the qLlIty and slIS ofthe individu and not sirr¢ty by nomination of a partir or9anisation. An inter¥ivw wocess t&e tthe before an irKlb¥idual ts recornffe to the Board as a pr05pecti¥e new trustee. On appointrnenl a new Trustee wil be given an induciion pa& have indtsction meetings with ROSPA'S senior managers. TNstees we encouraged to attend RoSPAevents. On apintmen( and during their term of office. training needs are h1enlffied aTrJ addressed. A¥ part of the Board ol Trustees. a Remunerw Commth is eStab1he to rrKJnitor. discuss and recommend the remuneration of the tharity's key personnd. Salle$ are benchmarked every year in March and proposed thange5 are reviewed and approved by the Remuneration Corrtmittee. Managemonl Commltlws and th• declslon4naklng proc•88 . The Board lof Trustees) ROSPA'S Board of Trustees are Directo of ROSPA for the purposes of the Cornpan The 803rd go¥em$ the Charty and delegates certain powers to the folltring enbty arMI committees.. . ROSPA Enterprises Limited IREL) REL is a registered company. wholly trlmed by ROSPA The Board of REL reports to the Board of ROSPA REL opts"mises ROSPA'S income from ¢ornn business opportunth'es, recommends and develops new commerc¢al actpleS and monrtors business perfomia . Nominations Commttee (Nomcom) The ROSPA N(wninations Committee mOnitS and re¥$ the skills mix of the Board. identifies areas for imwovement WKI makes recorMndati(Jns to the Board mattas relatiTrJ to the recNitment of new Tntslee Page 4
DO¢3n Envelope ID.. 5F795¢6&DF22471C-9E6?l94$¢F7Fs THE ROYAL SOCIEtY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUEDI THE YEAR ENDED 31 MARCH 2024 PlaThagèm•nl Committees and the declslonwmking pro¢•ss Iconllnued) . Human Resources & RemuneratM?n Committee (HRRCOM) HRRCOM determines. within the policy approved by the Board. the rernune1aln of the Chief Execubve. other Executivg Committee membets and the overall e1 of slaff pay. It also monilors a variety of Human Resources- related Key Pert0rrnare Indicators and policies. . Audit and Risk Committee IARComl The Audrt and Risk CommTttee revFews and reports to the Board on any financial statements produced for SLUl0ry and regulatory purposes, revws the reports and findings of the extemal auditors and reviews the processes governing risk management ar intemal control withm ROSP . Inveslftnt affjd Pensions Commiitee (PiNComl The Investment and Pensions Commiitee meets on an ad hrt basis lo review and port lo the Board on all matters relalrng to the Society's inveStnI portfolio and ROSPA'S Retirement and Death Benefits PL4n. a closed final salary pension scheme. . Qualifications Committee (Qualcoml Through delegation from the Truste. Qualcom oversee the running. of the Awarding Organisation fitIOns. Their role includes approving awarding organisalions. policies and procedures. establishing aims and objectyves, setting largets and agreeing budgets and VIewIng quaIrfalion demand. Monitoring and reviewing implementation of business p4ans and measuring whether pol ar>d targets are being achieved. ROSPA'S Mission: Together with our MberS we create a safer siety by convening le*r5, setting standards, sharing excellence and drrving thange. ROSPA'S Vision: An accthnt free W0d. .RoSPA's Purpose: To prevent accidents which needlessty kijl. injure and maim peopl& How ROSPA delNers its Mission and Vision changes over lifft to reflect the safety issues and challenges facing people in an everhangIng world. Inereasingty ROSPA seeks to deTrrY3lrate the effectiveness and value of the work that it does. ROSPA seeks to effect p9sVe change through ils work as a promolef of key safety issues and as a provider ofrelevantserve$. The Society collects dala, carries outreseareh. develops policies, inform$, educates. audits and provides expert consultancy in each of ihe following areas.. Al work. At leisure. On the road. In the home. Page 5
DoeJAHJn EnveknpE10: 5F795COF22471C-98EW19ISCFYFS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDEPWS TRUSTEES. REPORT ICONTINUEDI THE YEAR ENOED 31 MARCH 2024 Publlc Benefit A comprehensive revie of RoSPA'5 &tivibes duriThJ the year ended 31 March 2024 is presented below. Through these initsatives. ROSPA continued to focus on achwing its mission and VISI and the Trustees are sab'sfied that the Charity conb'nues to meet the required publ benefrt lestr. there ts a clear public benefit and ROSPA'S activities are designed and implemented to meet IL The Trustees have had due regard lo the Charity Commission guidance on public benefrt when reviewing the ¢haritie$ aims and obJ"e¢ts"ves and in planning future ath'vities. F¢ylurther information and a more detailed review of achievemtS and perf0Mnce, see also ROSPA'S Annual Review for the year ended 31 March 2024 available on the ROSPA websrte atr vmw.rospa.comlaboul-uslannual-revM¥. Strntogl¢ R•port The Tfustees, who are akso Directors of the Charity for the purposes of the Companies Act 2006. present their strateg Report and the audited Financial Statements for the year ended 31 March 2024. The Trustees have adopted the provisions of the Charit$ SORP (FRS 1021- second edition and tr Financial Reporting Standard 102 The Finanual Reporting Standard applicable in the UK and Republ of Ireland IUnite¢J Kingdom Generalty Accepled Aco)unbng Prathcel. The Strategic Report ofthe Trustees comprises the seclions: Annual Review. Financial Review of ROSPA 2023124. Principal Risks and UnrtaInlies. Stalement ol Trustees. Re$ponsibilths. Audrtors. Annual Review 2023124 Introdu¢¢ion This year, our collectNe efforts have propelkd us to heights. increasing our influeno in the UK and globalty in our strategic mIssTh to inspire others arHI ¢te real change to people's INe$. Our Health and Safety Awards scheme continued to grcm, ROSPA QUaIfficatnS expanded its reach and infbjence, and our training. &Learning and consultary se1$ merged to creale The ROSPA Academy. ROSPA began a ioumey of transformation to support its bnger-temi future. The first phase saw a thorough review to inform the develOpnI ol new internal systems. prccesses and a new customer focussed website. The appointment of Steve Cote as Director of Poly. Campaigns and Public Affairs COMffnCed a significant slrenglhening of the ROSPA polw team and our ambib.ons to deliver public poly change which prevents accidenls. In Odober 2023, after almost daleS at ROSPA including seven years as Chief Exe¢ulive, Errol Taylor stepped down. As our finanual year came to a dose, ROSPA wa5 delighled lo announce the appointment of Becky Hickman as its new CEO and Monwue K"n as CFO from 1 Aw'l 2024. Page 6
D¢rAJ$n Erwelopelo". 5F795C6&DF22471C.9eE9E871945CF7FS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUED) THE YEAR ENDED 31 IIARCH 2024 Annual R•vi•w 2023124 (¢ontinu•dl Highlights Aprm 2023- March 2024 ROSPA Awards 2023 A reeord-breaking number of organisations demonstrated their commitment to cupa"0nal health and safety with almost 2,000 entries submrtied from across over 50 countries. Entrants spanned a range of seetors. Irom manufacturing and construcb.on to flle$ management and healthca. Setting standards Edge Services worked with ROSPA Quahficals to create an innovabve new qualffication to give staff the confidence and skills to work ftre effe¢lNely those affected by denwtia and provide delegate5 with the expertise to train others in awarerw of dementia. ROSPA also joined eight of the UK'S prominent safety and health ganIsationS to fom the Occupational Safety and Health Stakeholder Amiance. In January 2024, the Intemational Asswth"on of Orf and Gas Producer5 IIOGP) introduced new standards. incorporating ROSPA into 115 '0n-the- road driver training.. Keeping Kids Safe Our Keeping Kids Safe Pfogranvne launched in India wth visrts to Mumbai. Pune and 8addi, in conjuncl)n wrfh L'oréal as part of their Safe@Work-Safe Home scheme. Over 450 chibjren and parents participated. expk)ring key risks to safety and gaining advice and tcds to keep kn.ds safe. Falls Prevention ROSPA publhed a report. in Conlunctm with Trent & Dove HousiThJ. investsgaling the incidence and causes of avoidable faus among housing aSsociatn tenants. Home visits were conducted wrth 161 customèrs to provide fall-focused safety checks and introduce ROSPA'S Fall Fighter materials. Home Safety Acudents in the home knll and injure thousands of peoFde every year. ROSPA continued to campaign on the importance of home safety. in conjunctpjn with the Office for Produd Safety and Standards, wrf(h themes including carbon monoxide, fiwOrks, blind cords. seasonal safety. charger5, baby bath seats. batteries, leaning products and child aCcents in the Maknng ourroads safer The safety of road users remains a key focus for ROSPA HwJhlwJhts this year Include.. The launch of a Novice Riders Hub to provide everything a young rJer needs lo sklll up and ride safety. The launch of 8 new Active Travel Hub to help everyone conder h¢JW they can include more cycling and walking Into their lifestykn- and remain safe whibl dryng $0. RoSPA'5 parttipation in the debate over the Prime Minister, Rishi Sunak. announcing plans to block councils imposing 20mph speed limits wÉlh Oirector of Poly, Steve Cole, featured on Radio 4's Today Programme and on the BBC One Show. ROSPA'S Life President Lord Jordan chamenging the slandirJ Govemffnt on its failure io act on publishing a revised road safety strategy. ROSPA hosted a round table 4wth Shadow Minister for Roads Bill Esterson MP where a range of views on the road safety seclorfs concems and needs were raised as part of the Labour Party's policy development ocess. Page 7
D0rJJn Enveknpe10.. 5F795C6&0F22471&9BE8719IgcF7F5 THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUED) THE YEAR ENDED 31 MARCH 2024 Annual R•view 2023124 l¢ontinued) Making our n¥èds safer (¢xntinued Director of Polw, Steve Cole represented ROSPA * a rou1 labbe on the Automaled VehKles Biu with the Rl HorUrable Mark HarFW MP Secretary of State for Transport. PaTIrnentary Under Secretary of Stale Anthony Browne MP and other inlluenll or9anisations. The S¢ORSA grant prqecl aehieved key delNerable of 25 per cent membetship grrywlh and exceeded targets for the Road Safety Webinar attendance. ROSPA secured its 5L>th year of Ro•J Safety funding in Wales. to deliver a grant programme lo help address national priorities. ROSPA hebj a signfficant. funded role In the pre and post ImprrentatiOn phases of the Welsh Govemmenys comrThtment to Introdu a detrdult 20nyh speed Iwnrt on $trthd roads in Wa. Saferamund water ROSPA led the UK response lo the Vthjrfd Health A$Ser'S first-ever resolutron on trchvning prevention. ift conjunthon with the World Health Organisation (IANOI. The report wll be the first of ts kind to measure the magnitude ol drowning SFeoffic to each county. as well as to assess the impknta.0n of evidencfrbased inlervenlions lo prevent and respond to drowning at a global bèvel. As wt of their lea¢J role in Water Safety Scouand. RoSP& in partnership with the Scottish Fire and Rescue Service. launched the hwhty antipated Drowning and InCent Review prctess- one of the firsl of its kind in Ihe world. Financial Review of ROSPA 2023f24 The Swety's Key Perfomwnce IndKators are net expendilure1iorne (before net lthsesllgains on investments} and the balance of Un$trthd fvnds. The Society gerwaled a net deTrt of £144k for the year {2023 - £527k surplus). This included a £221k {2023- £206k) charge in respect of the le9acy final sary penSn seheme. After accounting for an unrealised profit on investments of £205k12023- £286k lossl and an actuarial loss on the final salary pension scheme of £453k (2023 - £1.566k gain). there was a net defi¢rt for the year of £392k12023- £1,847k surplus}. The £392k deficitwas presented by a decrease in unrestricled funds of£828k and an increase of £434k in restricted funds. During Ihe financial year, income fell by 5%12023.' 29% increase). Several grants did not renew in Road Safety and Water Safety which contrtbuled lo lower gfOUP income. Expefidrtu has remained simdar to the previous year, increasing by 2%12023= 20% increase). ROSPA has consolidated net assets of£2.161k as at 31 March 2024 (2023". .553k1. Given the bng-term nature of the pension liability, planned cost saving measures and with cash and debtors of £3.2 million 12023 - £3.6 million) and investments of £4.7 million12023- £4.4 milOnI as of Ihe sheet dale. the Board remains of the view that ROSPA is a going concern. The Group continued lo maintain a healihy bank balance: at the year end. eash balances totslled £1.5 milion {2023- £1.3 million). Page 8
DocJxwJn En¥eloF4 ID.. 5F795C6&DF22471C-9BÉW71945CF7F5 ThE ROYAL SOCIEfY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUEDI THE YEAR ENDED 31 MARCH 2024 Financial Review ol ROSPA 2023f24 (Continued) RoSPA'5 wholty owned trading subsidiay. ROSPA Enterpr Limiled IREL}. continued to trade successful during the period. provi¢Jing training and consullancy. advertising and sponsored activities such as the ROSPA Occupational Health & Safety Awar¢Js Scherre. For Ihe year ended 31 March 2024 REL made a covenanted payment to the Charity. included in the results discussed above. of £402k. represenbng al of its taxable profits 2023- £561kl. Further information about the extensive range of activities and services provided through REL are included in the Annual Review and on the ROSPA websrte {wM.rospa.coml. The factors likely to affect the financial posTrtKin going foward as identified by the Trustees on the risk register are primarily extemal In respect of movement on investments and liabilrties and the final salary pension schemè deficit. These are mitsgated by the fact Ihat ROSPA mantabns signthcant &8sh balances. has no external debt and hdds signifficant long4efm investments. Pension Scheme Despite being closed lo new MberS and new accruals since 2001 the remains sHJnificant £3.905k al year end12023- £3,646kl. Nevertheless. ROSPA has no extemal debt other than trade creditors and has been successful al strengthening rts balance sheet over recent years to provKle a strong covenant foi this long- term liability. An ongoing agreement 15 in plats to make addib.onal annual contributions, suppbemenled by a further agreement lo make further conlribub.ons insofar as the Society exceeds ils annual financial targets, with a view to canng the lunding defiat over Ihe dIuM ierm. The latest triennial valuation of the S¢heme was comwed on 5 April 2022. The additional annual ntributn8 due from the Society are £376k per annum. The Scheme itself is managed by its cwn Board of Trustees..Alkin Trustees and is administered by Quantum Actuarial LLP. The Scheme continues to invesl a proportion of its assets in a fomi of'Liability Driven Inveslmenr. with the inlents'on of achieving better tracking betrween moven*nls in Ihe Scheme's assets and liabilities and thereby reduong volalilty in the vduabon ol Ihe deficit. Reserves The unrestricted fund$ of Ihe charity of 31 March 2024 a £1.664k {21f23- £2.490kl. The restricted funds of the charty of 31 March 2024 are £497k12023- £63kl. The Trustee5 9)ntinue to rolse the need to trld sulfvent free reserves to protect the conlinualion of ROSPA'S core acb"vilies. These reserves shoukl allow the organisation to plan ahead with a reasonable degree of wnlidence in the event of income shortlalls due to economK or market dcAvnlurns and to undertake effective long-lerm strategic planning. Free reseNes available for use by ROSPA cowise those that are readity realisable. less funds subject to reslricled uses or designated for parb'wlar purposes and less fixed aets. including Heritsge and Intangible assets of £361k12023 - £458kl. As at 31 March 2024 these coMpred a total of £3.753k12023 - £4,171 kl, a decrease of £418k for the year. Page 9
Én%lope ID.. 5F795c6&DF22471C-98E87191ScF7F5 THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUEDI THE YEAR ENDED 31 MARCH 2024 Flnancial Review of ROSPA 2023124 (Continued Reserves Iconb"nued) The ongoing largel level for RoSPA$ free reserves should equate lo six months of fixe(l operating costs, approximately £3.6m. reflectin9 the variability of commercral returns and the fact that ROSPA'S income is piedominantty self-generaled via its training and assockated actsvrfies. Hence, we are ¢urrenlly operaling al our target level of free reserves. Restn"cted reserves as at 31 March 2024 were £497k12023- £63kl as analysed in Note 22 to these accounts. Inveslffent Portfolo The investment portfolKs managed by Ralhbone Investment Mana9emenl Ltd, London increased in value by £271k during the peri¢>J. The dosing value of the portfol was £4,687k 12023 - £4,416kl. This in¢luded investment managementfees of£31k and di¥ents achinfed investrnents of£97k. Overtre period a posrtNe return on investment of 8Yo was Ised. The Investment Polw conts'nue5 to target three oty'ectives". the mainlenancelenhancernent of invested funds - Rathbone are seeking to delNer CPl+4% over the investment cyde". a reasonable anCe beiween capital grcmth and income.. and the avoidance of undue risk. b) The Policy also seeks to athieve a sound financial return seekin9 nol to invest in assets that ctsjld be detrimental to the aims aNJ objeclTrves ofthe Swety. Pln8 lor Future Periods ROSPA will continue to focus cffi its pmrities across the areas of road, workplace, home and leisure safety. guided by ils overarching vision.. Lrfe, free from serious ChIents1 injury and rn10n- Exchanging life-enhancing skills and knowledge lo reduce serious acCents1 injuries. In pursuing these objecb"ves. ROSPA will campawn on key issues, provide high quality advice and information through a variety of media, develop e¥enCe through research and deliver a range of professnal seNices induding training. consultancy. qualIficatn5 and events. It will also continue to wefcome organisats.ons into its m8mbership and a4¥ards communib'es where they can leam from best practice and celebrate Iheir a¢hievemnls. To further ils aim of reducing acCental Injur$. ROSPA will collaborate wrth a wide array of organisalions. including GovernThntal departments, businesses and other bodies, trom the UK and around the globe. In Ihe upcoming year. we are excited to announ our plans to upgrle our IT systems to a cloud-based soluts'on. This strategtc move is designed to enhance our operab.onal efficiency and Rexl11ty, enabling us to better focus on and advance our Missn. Page 10
Docun Enlope ID.. 5F795C68-DF22471C-98EfvE871915CF7F5 THE ROYAL SOCIETY FOR THE PREVEpffioN OF ACCIDENTS TRUSTEES. REPORT ICONTINUED) THE YEAR ENDED 31 MARCH 2024 Prfncipal Risks and Un¢ertaln¢i•s Identificatlon and Management of Risks The Board a$se5ses t#Jsiness risks and implements risk managempnt Strategies. The Trustees are pleased lo reFort thal the Charity's inlemal financial contrds confomi lo guideline5 Issued by the Charity Commission. A Risk R8gisler has been prepared lo help manage the nsk pro55. It eontams all risks identifièd and is subject to regular review. A forffd revithv of the risk management prctesses is urKJertaken on an annual basis. The key controls used by the charity incIle. Fomial agenda foi all Board and Commrttee acbvty. Detailed terms of reference foi all Committees. A commrtmenl to sdecting suitable nominated Trustee5 and where applicable, to provide risk training. A process for strategic planning. budget setting and management a¢UntIng. Estsblished organisalional structure with clear lines of reFtht"ng. Written poli¢tes, clear authorisation and approval level$. Clear allocation of all Signifint risks lo named individual& Through the established risk management processes. the 8oard is satisfied Ihal, lIe syslems can onty provide reasonable rather than absolute assurance. the major rtsks encompassing the Charity as detaled below have all been idenb"fRd and appropnalety managed as necessary. Final salary pens)n scheme defriL Weak econom enVircMent Reputational risk. Vveak financial reseryes. Fundr4i8ing poIIcy Section 162a of the charib.es Act 2011 requires us to make a staiement regardiThJ fvndraising tivities because we have an extemal audit. We do not undertake ally lundraising activities. We do not use professKsnal fundraisers or'commercial participatOfS° OT indeed any third parties lo solicit donatnns. We are therefore not Subject to any regulatory Scheme or ielevant code5 of praclj'ce, nor have we received any complaints in relation to fundraising actwiiies nor dowe con5idLY li necessary to design Sp1fiC prctedures to monitor such activities. Page11
Dowsiyn En¥dtye ID.. sc795F2247Ic-90EE67I945¢F7FS THE ROYAL SOCIEfY FOR THE PREVENlloN OF ACCLIEKrs TRUSTEES. REPORT {CONTINUED} THE YEAR ENDED 31 MARCH 2024 Statem•nt of Trnst••s' R•sponsibiliti•s The Tnjstees, Iwho are also directors of the charity for the purposes of company lawl are responsible for prepanng the Trustees Report and the financial statements in ac¢Ndance with aPpIats1e law and regulations. Company law requires the Trustees to Prepa financi staterrts for each finafte year in accordanee with United Kingdom Generalty Accepted Accounbng Pwtice {Unrted ltingdom Accounting Standards and applicable lawl. Under c¢Jmpany law the Trustees must not appfove the financial ststemenls unless tl)ey are satisfied that they give a true and lair view of the slate of affairs of the group and chanty ané of the irthming resources and application of resources. including the income and expenditure. of the group and charty for that period. In preparing these fin8rrial stalemenls, tlle Tfustees a required to". select 5uilable accounting poIleS and then appty them consi8tently." observe the methods and principles in Ihe ap1¢able Charities SORP," make Judgments and a¢counkn"ng estimates that are reasonable and prudent ' stale whether applicable UK Accounting Stsndards have t*en followed, sut4.ect to any material departures disclosed and explained in the financK41 statements". and ' prepare rhe financial Statents on the going concern basis Un it is inapprowiale to wesume that the Charity will conlinue in bLts4ness. The Trustees are responsible for keeping adequate accounb.ng records that are sufficignl to show and explain the charity's transactions and dIsCk with reasonab accuracy at any bme the financtal posityon of the charity and enable them io ensure that the financ1 statements compty wth the Companffts Act 2006. They are also responsible for safeguaiding the assets of the charity arKI hence for taking reawnable steps for the prevenlion and detection of fraud and other irregularibes. Page 12
DacusKJn Envelope ID.. W95C6&0F22471GE871g4F7Fs THE ROYAL SOCIETY FOR THE PREVENnoN OF ACCIDEpirs TRUSTEES. REPORT ICONTINUEDI THE YEAR ENDED 31 MARCH 2024 Audltors All of ROSPA'S current Trustees have tsken all the steps that they ought to have taken to make themselves aware of any informabon needed by the company's audrtors for the purposes of their audit and lo establish that the auditors are aware ofth information. The Trustees are not aw ofany relevant audit infomiation ofwhich the audito are unaware. Approved by order of the mentsrs ofthe board of Trustegs on and signed on their behaw by." 1211712024 M Parker Chairman Date= 1211712024 Page 13
Dty¢usiw ID.. SF795C6w22471C.gBE87194ScF7FS THE ROYAL SOCIETY FOR THE PREVEvnoN OF ACCIDEpirs INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS Oplnion on lh• Ilnancial ststements In our opini, Ihe financial StatenIS.. gNe a true and fa vw of the state of the Group's and of the Parent CharitalA8 Company's affaws as at 31 March 2024 and of the Group's incoming $0[ce$ and applicats.on of rgsources and the Parent Charilak4e Company's inming resources and appl'caknn of resources for the year then 8nded', have been prCe prepared in accordance wtth United Kingdom Generalty Aepted Ac¢ounts'ng Practice", and have been wepared in darKe with the requirerrnts of the Companw Act 2006, the Chafities and Trustee Investment Iscotlandl Act 2005 and regulatsons 6 and 8 of the Charitie5 Accounts {Scolland) Regulats"ons 2006, as alnded. We have audited the financial statements of The Royal Society for the Pffjvents"on of Ac¢idents I'lhe Parent Charrtable Company'l and its subsidiarres (e Group.) for the year ended 31 March 2024 which comprise the Consolidated Stslement of Financial Acbvib"es (incorporating Inccrfne and E¥pendtbJre Account), the Consolidated and Charity Balance Sheets. the Consolidated Statement of Cash Flows and notes to the finèncial staternenls. induding a summary of significant accounting pc4ictes. The financA reportin9 framework that has been applied in their preparatn is applicatle law and United Kingdom Accounting Standards, including Financial Reportin9 Slandaid 102 The Financial Reporh"ng Standard applicable in the UK and Republic ol Ireland (United Kingdom Generally Accepted Accounb"ng PractKe}. 8•8ls for oplnlon We conducted our audit in accordance with Intemational Standar(Is ¢)n Auditing IUKI IISAS IUKII and applicab law. Our responsibilitses under th¢)se Stsndards are further descriked in Ihe Auditorfs respons"11t1es for the audit ofthe financial statements section of our reporL We bve thal the audit evidence we have obtained is sufficient and appropriate lo provKle a basis for opinion. Independence We rernain independent of the Group and the Parent Charitable Company in accordance with the ethical requtremenls that are relevant to our audit of the financral Statents in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsi[be$ in aorare with these requirements. Conclusions relat•d to going conc•m In audrting the financial statements, we have concluded thal ts Trustees. use of the going con¢em basi$ of accounting in the preparathjn of the financial staleffents is apFWate. Based on the work we have perforn. we have not identified any material uneertaints'es relating lo events or conditions that, indivKlualty or collectNely, may cast signthcanl doubt on the Group and the Parent Charitable Company's ability lo conbnue as a going eoncem for a period of at least Iwelve monlhs from when the financial statements are aLthod for issue. Our responsibilib.es and the responsibilit of the Trnstees wth resped lo going concem are described in the relevant 5eth.ons of this reporL Other Infomialion The Trustees are responsle fortr* other information. The olher Wbfom)aln comprises the inforn)bon included in the Trustees. Report, other than the financial slatements and our auditor's report Ihereon. Our opinion on the finan¢BI statements does not cover the other inlomiation and, exeepl lo the extent otheise explicilty stated in our retx)rt, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so. consider whelher the other inf0m)atn is materialty InnSiStenI with the financial statements, or our knowledge obtained in the course of the audit. or otherwise appears to be materialty mi5Stated. If we identify such material inconsistewes or apparent matenal misststemen15, we are required lo detemiine whether this gives rise to a matellal misstatement in the financial statements themselves. 11. based on the work we have pèrformed, we eondude that there is a materr41 mi5Statemenl of this other information. we e required lo report that fact We have nothin tore in this ard. Page 14
Do¢u9Th En¥ek)Fe ID.. SF795CWF22471C-98E&E871945CF7F5 THE ROYAL SOCIETY FOR THE PREVEPfflON OF ACCIDENTS INDEPENDENT AUDrroR'S REPORT TO ThE MEMBERS OF THE ROYAL SOCIETY FOR ThE PREVENTION OF ACCIDENTS {CONllNUEDI other Companies Act 2006 reporting In our opinion, based on the work undertaken in the course of the audit the informalion given in the Trustees. ReporL whh includes the DIlor5. Report. the Siraleg Report prepared for the purposes of Company Law. for the financial year for whth the financial statements are prepared is consistent wth the financial statements. and the Strategic Report and the Directors. Report. which are included in Ihe Trustees. Report, have been pPared in accordance with ap1¢able legal requirements. In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment oblained in the course of th8 audi( we have nol enIle material misslatsment in the Strategic Report or the Trustees, RepotL We have nothing to report in respect of the following matters in relatKJn to which the Companies Act 2006 and the Charities Accounts IScottand} RegulatlnS 2006 requires us to report to you rf, in our opinK)n.' adeqvale accoynling recorils have nol been kept by the Parent Chafttaljle Company. or relurns adequate for our audit have not teen received from branches not visrted by us.. or the Parent Charitable Company financ1 5talemfrnts are not in 4reemenl with the accounting records and retums". or certain disclosures of DirectOf5' remuneration Specified by law are not made. or we have not received all the inforMatn and explanat)n$ we t8quire for our audit. Statement of Trustè¢$ responsibiliti•$ As explained more lully in the Statemenl of Trustees, Responsibilits"es. the Trustees (who are also the directors of the Charitable Company fof the purposes of company law) are responsibk for the preparation of the financial statements and for being sèbsfied thatthey gNe a true and fair view. and lor such internal cLJntrol as the Trustees determine is necessary lo enable the pparation of financial Statements that are free from material sstatement. whether due to fraud or error. In preparing the financid statements, the Trustees are responsible for assessing the Group's and the Parent Chafilable Company's abilty to continue as a 90ing conrn. disclosing. as applicable, matters related lo going coneern and using the going concem basis of accounb.ng unless the Tfustee5 erther intend to liquidate the Group or the Parent Charrtable Company or lo cease operations, or have no realists"c alternative Ixrt to do so. Auditor'$ responsibilities for the audii of the financlal statements We have been appointed as auditor under section 44{1)(c} of the chare5 and Trustee Investment (svan) Act 2005 and under the C¢)mpanies Acl 20C6 and report in &cordance wilh the Acts and relevant regulations made or having effect thereund8r. Our objeth.ves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemenl. whether due to fraud or error, and to issue an audTtofs report that includes our opinion. Reasonable assurance a high kvel of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUK} will aayS detect a material misstatement when il exists. Mis5talements can artse from fraud or error and are conwdered malerk4 if. ind1vKlual or in the aggregate, they could reasonably be expected to inThJence Ihe economic decisM)ns of users taken on the basis of these financial slatements. Exlent to whKh the audit was capoble of delecb.ng irregulantss. includmg fr8ud IrregularitS. inthding fraud. are instances Ofnnpan¢e wilh Iwws and wulalions. We design procedures in line with our responsibilibes, outlined above. to delect material misstatements in respect of irregularities, including fraud. The extent to whith our procedures are capat4e of deteth.ng Irregularit$, includin9 traud is detailed below.. Page 15
Dow9n En¥¢lope ID.. 5F795C6&DF2247IVE8?l9lsCF7Fs THE RQYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF ThE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS (CONTINUED) Extent to whKh the audit was capabl8 ofdetecling ryulaiities. induding fraud (wntinuedj Non-compliance with laws and regulalions Based on: Our understanding of the Group and the seclor in whth it operates". DiscussK)n management and those Charged wth governartce induding Audit and Risk Commrttee,. and Obtaining an understanding of the Group's w)1leS and procedures regarding Compliance with laws and regulations. We considered the signifKant laws and regulat5 to be the Charities SORP IFRS 1021- second edition and the Financial Reporting Standard 102 Thp Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Geneially Accepted Accounbng Practice). The Group is also subject lo laws and regulatNJns where the consequence of non<omrliance could have a material effect on the amount or di)sureS in the financ1 staleThnts. for example through the impositson of fine5 Of litallOnS. We idenlthed such laws ulati$ lo be he4th and safety legislation, employment law and dats protection. Our procedures in SPect of the above included.. Review of minutes of meeting of those charged with govemance for any instsnces of norpcomF4iance wrth law$ and regulati¢)ns', Review of Corres)ndence wrth regulatory and tax authorities for any inslances of non<ompliance with laws and regulation5", Review of financial statement discbsures and agring to supportiro documentation,. Involvement of tsx specialists in the audrt,. and Roview ol legal oxpenditure ac¢ounts io un(Jerstsnd the naj of expendrture incurred. Fraud We assessed the suscepts"bility of the financial statements to material mi551alemenL induding fraud. Our risk assessment procedures included.. Enquiry wilh management and those charged wilh governance wKluding the Audit and Risk COmmlee regarding any known or Suspected instanos of fraud", Obtsining an understsnding of the Group'5 policEs and procedures relatyng to.. Detecbng and responding lo the risk5 of fraud." and Internal contrds established to mitigate risks related to fraud. Review of minutes of meeting of those charged wilh govemance for any known or suspected stanceS of fraud,. Discussion amongst the engagemnt team as to how and where fraud might ¢xcur in the financial stalemen15- and Performing anatylical procedures lo entfy any unusual or unexpected relationships that may indicate risks of material misstslemenl due to fraud. 8a$ed on our risk assessment. we considered the areas most Susceptib lo fraud to be management overrFde including the posting of iftapproprte ioumal enlnes to manipulate financial results and management bias in aOUntIng estimates. In addithin. we considered revenue recognition an area to te sustspts.ble tofraud, parlicukfly in relation lo the posts.ng of Joumals to material revenue streams. Page16
DO¢Vn EnvelopE10.. SV79Sc6F22471c-S8E7I9lScF7FS THE ROYAL SOCIEfY FOR THE PREVEMTION OF ACCIDEPITS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ThE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS ICONTINVEDI Our procedures respect ofthe above induded.. Testsng a sample of Joumal entrs throughout the year, rrt a defined risk rxiteria. by agreeing to supporh'ng documentsbon., A review ol estimates and judgements applied by Manwjement in the financial slalements to assess their appropriateness and the existence of any systemalK bias.. and In addressing the risk of fraud through improper revenue reccgnib"on. we tested the appropriateness ofcertain Journals to terial revenue streams. We also communuted relevant identified laws and regulations and potential ftaud risks to all engagement team mernbers and remained rt to any Indicatn$ of frau¢J or non<ompliance wlh laws and regulations throughout the audit. Our audit procedu were deSned to reswjnd to risks of malerial misststement in the financial statements. fecognisiTrJ thal the fbsk of not detecting a material mi55tstement due to fraud is hher than the risk of not detecting one resultsng from effor. as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are InhenI limrtab.ons in the audit procedures perfomied and the further removed non-compliw with laws and regulats.ons is from the events and Iransactsons reflected in the financial statements. the less lthety we are lo becorTE awa of IL A further descripti1 of our responsibilities for the aIrt of the financial statements 15 loGated at Financial Reporb'ng Council's I"FRC's"I website al" https".Ilww.frc.org.ukJaudrtorsresponsikx"lrties. This description fomis part ol our auditor's rewrt Use of our report This report is made sow lo the Charitable CoMY'S as a body, in accordance wrth Chapter 3 of Part 16 of the Companies Act 20C6, and to the Charrtable Company's Tru51ees. as a body, in aceordance with the Charities and Truslee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the Charrtable Company's members and Trustees th¢)se matters we are required to state lo them in an auditor's report and for no other purpose. To the ful51 extent pemiitted by law. we do not accept or assume responsibilty to anyone other than the Charrtable Company, the Charitable Company's membeTS as a body and the Charitable Company's TnbStee5 as a body. for our audrt work. kn this reFrt. or for the opinions we have formed. Samantha Lifford (Seniof Ststutory Auditor} For and on behalf of BDO LLP, Ststutory AlItOr Birmingham. UK Dale 17 t)ecember 2024 8DO LLP is a h'mited fHbilty partnership registered in England and V¥ales {wrth re9i8tered number OC305127). Page 17
Oo¢usign En¥¢l¢)pe ID.. 5F79F22471c-9BE987lw7F5 THE ROYAL SOCIETY FOR ThE PREVENTK>N OF ACCIDENTS CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Total funds 2024 £'ooo Tolal lunds 2024 lund$ 2024 2023 lrt¢Jme frorn.. Donation5 and le9acies Charitable actiwlies Other Irading Investmet)t$ 17 5.733 22 7,051 1,411 97 105 7,388 1,509 68 1,318 97 1,323 9,070 Expendlture on: Raisng fund5 Charitable activrfie5 979 7.564 6.408 7,685 Totsl expendlture 8.725 8,543 Net l•xp•nditurnlfin¢om¢ bef0Y¢ net 9alnsl1lsI on Inveslments {1911) 11441 527 Net gainsl(hsses) on inveslffnts 18 205 (286) N•t incom 15 61 241 Tr•n$fers betren fijnds . Net movement in lunth before othr re¢ognised U055e5ygain5 (3731 434 61 241 Oth•r recogniw Oos6•5llgains: ACtUal Oossesll9ains on defined benefit penon SL*emes 27 14S3) 1.568 Gains on revalualn offixed assets 17 40 Net mo¥wnont In funds 11261 (3921 1.847 Re¢onciliation of funds: Total funds brought forward Net mlement in lunds 2.553 13921 706 1,847 1826) Totsl fund8 ¢arrled fomird 497 2.161 2,553 The ConsolKlated Statement of Financial Acbvities wKludes all gains and losses rewnised in the year. The notes on pages 22 to SO fm part of these finanrya stalenwts. Page18
DO519 Enwlope ID.. SF7KC68-DF22471C-9BE87IY4$cF7FS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCX)EMrs CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 Companynumber 00231435 2024 £'Doo 2024 2023 £'ooo 2023 £'ooo Flxed assets IntsngIb assets Tangible assets Heritage assets Investments 15 16 17 18 136 1ASS 225 4.687 233 1,507 225 4,416 6.503 6,381 Current assets Debtors Cash al bank and in hand 20 25 1.678 1.510 2.351 1.296 3.188 3.647 cdItorS.. amounts falling due thin one year 21 13.6251 13.8291 Net currMI Iliabilities} (437) 11821 Total •ssets1oss cuirmt Ilabllltl•s 6,199 Net assets ex¢luding pension Ilablllty Defined benefit pension scheme Ility 8,199 27 13.905) 13,6461 Total net assets 1161 2,553 CharSty funds Reslricled funds Unreslrtcled funds exduding pension asset Pension reserye 22 497 63 5.569 (3.905) 6,136 13,646) 27 Total unrestricted funds 1,664 2,490 Total lunds 2.161 2,553 The finarKial slatemenls were approved and aUth0n for issue by the Twstees on and signed on their behaff by.. M Parker Chairman Date.. 1211712024 The notes on pages 22 to 50 fomi of these financiat stslements Page19
ID.. 5F79ScDF22471C-E8?Ig45cF7F5 THE ROYAL SQCETY FOR THE PREVENTION OF ACCIDEIUS CHARrrY BALANCE SHEET AS AT 31 MARCH 2024 Companynumber 00231435 2024 £'ooo 2024 £'ooo 2023 £'ooo 2023 £'ooo Fixed assets Intangible assets Tangible assets Heritage assets Inveslments 15 16 17 18 136 1,455 225 4.687 233 1.507 225 4,416 6.503 6.381 Current •ss¢ts Deblors Cash al bank in hand 1.516 1,416 2.163 1,246 2.932 3.409 Creditors.. amounts falling due within one year 21 13.369) 13,591) Currenl (Iiabilili> (437) 1182} Total assets less curr•nt liabilities 6.199 N•t ass•ts excluding ynsi¢ liability 6,066 6.199 Defined benefit pension scheme lial)ility 27 (3.905) 13,646) Total net asgets 2,161 2,553 Charity fynds Restricted fvnds Unrestri¢led fvnds exduding pensKJn asset Pension reserve 497 63 5.569 (3.9051 6,136 13.6461 27 Total unrestricted lunds 2.490 Total funds 2.161 2,553 The financial statements were approved and wJthorEed for Bsue ty the Trustees on and signed on their behalf by.. Parker Chairman Datg.. 1211712024 The notes on pages 22 to 50 form part of these financial sL*emen Page 20
DovA8vJn Env*e ID.. 795c6&DF2247Ic.9BEE871glsCF7Fs THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS CONSOLIDATED STATEMENT OF CASH FLOWS FQR THE YEAR ENDED 31 MARCH 2024 Note 2024 £'ooo 2023 £'ooo Cash Ilows from operating activities Net cash provided byllused in) operats.ng actsvrties 24 247 {373) Cash Ilows from inv•slAng adivities Purchase of intangible assets Purchase of tsngible fixed assets Cash transferred to investment portfol (88) (9) (500) 16 Nel cash {used In) hwestlng adiviti (597) Change In cash and cash equhralents In th• y••r 214 (970) Cash and cash equivalents al the Winning of the year 2.266 Cash and ¢a$h ¢quival•nts at the end of the y•ar 1.510 1.296 The notes on pages 22 to 50 fonn part of these financial Statents Pa9e21
Do(JJ51w ElYvekpe1. 5F795C6&DF22471C-WE871945CF7FS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2024 General Inforn)atlon The Society is a Charty regislwed England no. fA)231435, limited by guarantee and having no share capital. Therewere 1949 fegistered rrmbS as al 31 March202412023- 2,99)}whoare liabletocontribul 50p each in Ihe everrt of the Sty being wound up. The Society is a regtered charity no. 207823 in England and Wales and SC039289 in Scovand and its objects a set oul in its ArtKks of Associats'on. As a charity the Society's charitable activities are exempl from corporation tax A¢¢ountlng poli¢ies 2.1 Basls of preparalion of lknan¢lal statements The financialstatements have been prepared in wrdancewith theCharils SORP IFRS 1021-k¢ounting and Reporting by Charilw.. Ststement of Recommended Practsce applicable to charities preparing their accounts in accordance wth Ihe Financial Reporting Stsndard applicable in the UK and Republic of Ireland. (FRS 1021 leffeclNe 1 January 20191. the Financial Reporting Standard alble in the UK and Republic ol Ireland (FRS 102) and the CLMnpanies Acl 20(. The Royal Society for the Prevenb)n of AcdentS meets the definib'on of a public benefit entity under FRS 102. Assets and 1iabilrt& are initialty recognised at historul cost or Iransaclion value unless otherwise staled in the relevant aeeounting pc4ry. The Consolidated Statement of Financial ActNits'es (SOFA) and Consolidated BalarKe Sheet consolidate thè financrdl stslements of the Chanty WKI its subsidrary undertaking. The iesults of the subsidiary are con501idaled on a linbY41ft8 basis. The Charity has taken advwe of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own StalennI of Financial ActivitEs in these financ1 ststemenls. The financ1 stalew£nts are presented in British Pounds Steding IGBP}, wh¢¢h is the Company's presentational and lunth"¢)nal currency. 2.2 Going ¢onc•rn The Ttustees continue to rrKJnitor financial forecasts and cashfk)ws and revie•V scenario forecasts to 31 March 2026 lo assess the impxl of fvture scenarios on income. The liquidity of investments conts.nues to be considered, ensuring fvnds are sufflent1Y accessible should they be required. The Trustees have also considered the £1,910k net asset posit)n of the Group balance sheet at 31 March 2024. A sionthcant liabilty which contn"butes to the over41 posibon is ROSPA'S final salary pension fvnd, which has a nel defictt of1£3.9m) al 31 March 2024. Thi5 rs a k)ng-lemi liability which is subject lo annual valuation and will crystallise over Ihe nexl 30 years. The Group has no external borrowings. A5 such. the impact on cashflows over the going nCern assessrrenl period is far less signfficantand ha5 been included in the model"ng sel out ètove. The Trustees are Confident. based on the assessrnent performed, that cash and investments will remain sufficient to enable the Chanty and Group to meet its obligations as they fall due for a period of at least 12 months from the date of swjning trSe accounts. Pa9e 22
DO¢19n En%fope ID.. 5F795C68-DF22471C-98W871945CF7FS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUEDI A¢¢ounting policles l¢ontinuedl 2a lTrcome l irbcome is recognised once the Charity has entillemenl lo the income, it is probable that the income will be Teceived, and the amunt of income receNable can be measured reliabty. Grants are included in Ihe Consolidated Statement of Financial Activiti"es on a receivable basis. The balarKe of income received for spectfic purposes but rKJI expended during the period is shown in the relevant funds on the Balance Sheet ere income is recer¥ed in advarte of ents"Ilemènl of receipt, its recognition is deferred and included in creditors as deferred income. there enttllement oceuts bèfore income is recetved. the income is xcrued. Subscriptions are receivable on varying dates through¢Jrt the year and are apPortned on a timg basts. Awds. events, training. eonsuttarry and joumal is deferred trom the perK)d when it is received to the period in which the service or goo¢Js wll be delivered. Inme tax recoverable in rek'on to investment income is recognised at the time the investhnI income is CeNable. Olher income is recognised in the period in which il is receivable and to the extent the good5 have been provided or on completion of the service. 14 ExnditUr? Expenditure is recognTsed once there is a al or co)stnrctNe obligatKJn to transfer economi benefit to a third paty, il ts probable Ihat a transfer of economic benefits will be required in setNement and the amount ofthe obligation can be measured reliably. Expendrture is classifd by aclivty. The costs oleèch activity are rn up of the totsl of direct costs and shared costs, including supp)rt costs invofved in undertaking each activty. Direct costs attn'butable to a singbe actNity are allocated direct to that actwity. Shared costs which contribute lo more than one activty. supportcosts and central 5tsff costs whth a notattributable to a single activty are apport¢oned ttween those 8cb"vrties on a FTE staff number basis consistent with the use of resources. Expenditure on raising funds includes all expendrture incurred ty the Group to raise funds for its charitable pwposes and includes costs of investment management and nortrllcharrtable tradirbg. Expenditure on ¢haritat4e acb"vities is incurred on directy ertakIng the actwities which further the Group's objectives, as well as any associated support costs. All expendthirg is In¢5•ve of Irrecovfrrat48 VAT. 2.5 Foreign ¢uffen¢ies Monetary assets and liabilitses denominated in foret9n currencies are translated inlo steding al rates of exchange ruling al the ports"ng date. Transactions in foreign rrencieS are translated intQ 5tsng at the rate ruling on the dale of the transaction. Exchange gans and h)sses are recognised in the ConsolJated Statement of Financial Acbvities. Page 23
Doojsigm Envelcye ID.. 5F79sC6FZ2471C-gBEE87I94$cF7F5 THE ROYAL SOCIEff FOR THE PREVENTION OF ACCI)Eiirs NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUED) Accounting polieles (Continu) 2.6 Intanglbh assets and amortlsation Intangible assets costing £500 or more are capilaltsed aThJ reCOgned when future eccK)mic benefits are probable. and the Cost or value of the assel w be wsured reliably. Intangible assets are inrtially recognise(l at cost After recognitn. under the cost model. intangible assets are measured at cost less any a¢my1ated arrthisation and any UMUlated ImpalmnI losses. AtrKJrtisabon is provided on intangible assets at rates calculated lo write off the cost of each asset on a sliaight-line ba5 ovei rts expected useftd life. Arrx)rtisation is prowded on the frAI(Ying basis: Computer softsvare 25% 17 Tangible fixod assets and depr¢cl•tlon Tangible fixed assets costing £51KI or more a capitslised and iecognised when future econoffmc benefits are probable. and the cost or ¥ah* of the asset can be ffeasured reliabty. Tangible fixed assets are in1b.al ned at cosL After recognthon, under the cosl model, tangible fixed assets are measured al cost less accumulated deweciats'on and any xcumuiated impairment losses. All costs incurred to bnn9 a tangible fixed asset into its intended working condrtion should be included in the measurement of cost. Depreciatson is charged so as lo allocate the cost of tsngible fixed assets less their resHJual value ¢>ver thgir estimated useful INes. u&ng the Sh141ne method. DepcIatIOn is proded on the fdlcfin9 basis: Long-lerm leasehold wopety Plant and mathinery Fixtures and fittings Computer equipment 2% 7% 15% 25% Page 24
DoeJjSn En¥¢lopE10." 5F79SC6F22471C-58EfvE8?1945cF7F5 ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 RCH 2024 ICONTINVED Accounting polkles (continued) 18 Herftage assets The charty's colleclw of ariwork and F()Sters is reported #) the Balance Sheet at valuation. Valuations are reviewed every year and updated by professional valuers every 5 years or more often if the TnJstees consider rt neceSsy. The TnJstee5 woubj consider this necessary rf for example lurther heritage a$$ets had been discovered or if the level of reL3ted sales had changed significanlty in the perio The arlwork and posters are deemed to have indefinite lives and the TrLtslees do not therefNe consKler it appropriate lo charge depreats"0n. It is the ¢harity's policy to maintain rt5 coib¢ty'on of ariwork and posters in good condrtion and any maintenance costs incurred to preserve are Charged to the StslewEnt of Financial Activit5 when incurred. 2.9 Investments Fixed asset invesliwts are a forn of financial instrument and are inibaHy recognised al their transaction ost and subsequenty aSured at fail value al the Balance Sheet date. unless the value cannot be measured reliabty in which case it is wEasured al c051 less impaiimenL Investment gains and losses, whether reali5ed or unrealised. are combined and Presented a5 'Gn{LO$se$l on investments, in Ihe Consolidated Statewil of Financial Actbvities. Z10 Dèbto Trade and other debtors are recognised at the setttement amount Prepayments are valued al the amount prepaid. 111 Cash t bank and in hand Cash at bank and in har inthdes cash and short-tem hwhty 14uid invesimenls with a short murty of three months or from the date of acqui$rtn or opening of Ihe deposrt or similar account 112 Liabiliti•s Liabilities and provisions are recognised when there 15 an oblyatft at the Balae Sheet date as a result of a past even( it is probable that a transfer of ew10m benefit will be required in settbment. and the amount of the settlenI can be e5"Mated relBbty. 'abilities are recognised at the amount that the Charty anticipates it will pay to settle the debt or the anKJunt it has weived as advanced payments for the g¢)ods or serytes rt must pro¥e. 2.13 Contlngent libilities There ts a polents.al dawl)ack for all grant nN)nies and resitled fvnds where they are not spent in accordance wlh the terms and conditions of the grant oller letter or contract. Sou"ety's expenditure eontro are designed to ensure that there is no such liabilty- Page 25
Docusign En%*lopÈ ID." SF795C6&DF22471C-WE871945CF7F5
THe ROYAL SOCIETY FOR THE PREVEP4TION OF ACCIDENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUED}
Accounting poNcles (contsnuedl
114 Flnanclal Instruments
The Gioup has financ1 a55ets and financial liabililres of ? knnd qualtfy as basic financial
inslrumenls. Basic financial Instruments are initsaly ognIsed at transaction vaue and subsequently
measure
0¢7cJJsiw En¥eW1. 5F795c6&DF22471WE871945cF7F5 THE ROYAL SOCIETY FOR ThE PREVENTION OF ACCIDENTS NOTES TO THE FWANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI Critiul a¢¢ounling estwnatss ahd art•s of Judgement Estimates and judgements are continualty evaated aThJ are based cm historical experience and other factors, including expectation5 offvture events that are believed to be reasonable undw the cirGumstance5. Critical accounting estimates and assumptions. The Charity makes estimates and assumptions concerning the futu. The Su111n9 aceounling eslimales and assumpliTrns WIN, by definibon. seldom equal the related adual results. The esb"males and assumpbons that have a signifrant risk of causing a material adjustment lo the carying amounts of assets and liabilities within the nexl ffiarKial year are discussed beb)w. Critical areas of Igernent To determine whether leases entered into by the company either as a lessor or a lessee are operating leases or finance kases depends on a beas&by4ease assessment of whether Ihe risks and rewards of ownership have been transfrrred from the lessor to the kssee. 2. To determine whether there are indicatovs of impairrrent of Ihe company's tsngible assets the factors taken into consideralion include the economic viability and expected future financial performan of the asset and. where rt is a component of a larger cash4Jenerating unil, the viability and expected future performance of that uniL Tangible fixed assets are depreciated ovgf their useful h'ves. The actual lives of the assets and resUal values are assessed annual and may vary depending on a number of factots. In reassessing asset hves factors such a5 te¢hnc4ogical innovats"on, product life cycles and maintenance programmes are taken Into Ount. Residual value assessments ¢onsKter issues such as future marttet condrtions. the remaining life of the a5sel and proje¢led disposal Values. 3. To detem)ine the provision against trade debtors, debts are assessed at each reporting date for recovembilty. If there is any eviden of imprment the carrying amount ofthe debtor is redu¢e<l to its recoverable amounL The inwaThnt Ioss L8 reCOgned imrnediately in the Consolidated Statement of Financial Activil*s. 4. The Group operates a defir eontn"butffi pens scheme. and the pension charge represents the amounts payable by the Group to the fund in SpeCt of the year. The Charity operates a defined benefit penwn rne. provrding benefits based on final pensionable pay. The latest triennial valuab.on of the scheme was completed on 5 April 2022 and was updated for FRS 102 purpose5 10 31 March 2024 by a qUalifd independenl actuary. Judgement is required in assessing the appropriateness of actuarial assumptions used by the xtuary. The assumptions have been reviewed by managerrenl and they we considered reasonable. The difference beeen the fair value of the assets held in the charity's defined benefft pension scheme's liabilities rreasurel on an actLiarial basis usin9 the projected unrt method are recognised in the eharity's baL4nce sheet as a pension scheme It.11ty. The carying value of any resultsng pension scheme asset B restricted to the extent that the charity able to recover the surplus either through reduced contributions or through refunds from the Sche. Changes in the deferre(I benefft pension asset or Ik4bilty arising from factors other than cash ntribubon by the tharrty are charged lo the Statement ol Finanual Activitie$ in aOrdanCe with FRS102. Page 27
Docwdyn ErweloFe10-. 5F795C68-DF22471C.9BEgE871945CF7FS THE ROYAL SOCIEfY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTIMUEDI Income from donatlons and legacies Unrnstricted funds 2024 Restrlcted funds 2024 £'ooo Total funds 2024 £'ooo Donations 17 UnroslrKted funds 2023 Restricled funds 2023 rotal funds 2023 £'ooo Donations 66 39 105 In¢om• from ¢haritabl• actlvltles Unr•5tri¢ted fvnds 2024 £'ooo Restrl¢ted funds 2024 £'ooo Total funds 2024 £'ooo Income from Charitable actiwties- At Work Income from chaiitable a¢livities- At Leisure Income from charitable acb"vities- On the R¢)ad Income from charitable activities- In the Home Income from charitatk a¢livities- By Influencing & Informing 4.496 4A96 582 1.537 436 582 274 462 1.263 126) 5,733 1.318 7.051 Restncted funds 2023 Totol fvnds 2023 £'ooo funds 2023 IncoTrE from charilatle a¢tiVrt- At Work Incoffe from charrtat4e activit- At Leisure Income from charrtae aclivrties- On the Road Income from charitae &tivilies- In Ihe Home Ineome from charitable a¢ty¥'e5- By Influenctng & Informing 4.379 25 1.317 88 10 651 489 408 4,389 676 1.806 496 27 21 5.830 1.558 7.388 Page 28
Do(1gn Én¥8lope ID.. 5F795C6&0F22471C-98E>E871945CF7F5 THE RQYAL SOCIETY FOR THE PREVEPfflON OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {CONTINUEDI Income from noTrcharitabl• trading activities Unrnstri¢t•d funds 2024 £'ooo Total funds 2024 £'ooo Trading income 1.411 1,411 UnrestrKted funds 2023 Total funds 2023 £'ooo Trading income 1,509 1,509 Inv•$tment incom• UnltriCted funds 2024 £'ooo Totsl lunds 2024 £'ooo Income from invesknnents 97 97 UnrestrKted fvnds 2023 Tot81 funds 2023 £Ot Income from investments 68 68 Page 29
Docu En%*lope ID.. SF795C6&DF22471C.9BÉWE871945CF7FS THE ROYAL SOCIEFY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 {CONTINUEDI Expendilure on raislng funds Other tradlng expenses Unrestricted funds 2024 Total funds 2024 Trading costs of sale Trading administrakn.ve expenses 712 297 712 297 1,009 1,009 Unrestricted nds 2023 Tot81 funds 2023 Tr•Jing costs of sale Trading administrative expenses 663 663 286 949 949 Invostm•nt management $ts Unwestricted funds 2024 É'ooo Total funds 2024 É'ooo Investment management fees 31 31 Unrestrithd funds 2023 Total funds 2023 £'ooo Inves1nnt management fees 30 Page 30
Doty9n En4*lope ID.. 5F795Cfj&DF22471C-98EW71945CF7F5 THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUED) 10. Anatysi$ of eXpend1th on charttable act6vili•s Summary by fund type Unrnstrlcted nds 2024 £'ODO Restrlcted nd$ 2024 £'oDo Total funds 2024 £'ooo Al Work At Leisu On the Road In the Home By Infiuencing & InforrThng 4.429 137 1.185 204 453 4,429 312 452 513 1,637 717 453 6.408 1.277 7,685 Unrnstricted ltsnds 2023 £'ooo Restricted fvnds 2023 £000 Total lunds 2023 £'ooo At Work Al Leisure On the Road In the Home By Influencing & Informing 3.939 187 1.338 205 251 4,223 779 l. T10 433 419 592 372 228 168 5.920 1.644 7.564 Page 31
Oo¢usJn Envdopelo." w95C68-DF22471C.g8E37l94F7F5 THE ROYAL SOCIETY FOR ThE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {CONTINUEDI 11. Analysis of expendlture on charitable •ctl¥itie8 Activities undertaken dlTe¢tfy 2024 £'ooo Support costs 2024 £'ooo Total funds 2024 E'ooo At Work At L&sure On the Road In the Home By Influencing & Informing 3.358 333 1.145 543 135 1.071 116 492 174 318 4A29 1.637 717 453 5.514 2.171 7.68S Achvrties undertaken didIY 2023 Support costs 2023 £'ooo Total fvnds 2023 £'ooo At Work At Leisure On the Road In the Home By InfkRncing & Informin9 3,170 666 1. 199 204 134 1.053 113 511 229 285 4,223 779 1, 710 433 419 5.373 2. 191 7.564 Support costs irbclude experKliture on stsff. I"Irts. IT, finance and govemance. 12. Net incomè This is arrived al after ¢har9irtg'. 2024 É'ooo 2023 £000 Group auditors remuneration Fees paid lo auditors lor other seThfices Hire of other assets- operating lease5 Depciation offixed assets ArYK)rtJ'sabon of intsngible fLxed assets 69 11 389 85 97 68 479 93 108 Page 32
Doww9n Erlope ID.. SF79ScWF22471G9ÈÉE87l94$¢F7Fs THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI 13. Staff costs Group 2024 Group 2023 Charity 2024 £'ooo Charity 2023 £000 Wages and salaries Social security c05ts Pension costs Operatin9 Cost of pensK)n defined benefit pension heme Other employee costs 3,531 341 179 3.242 311 166 3,531 341 179 3.242 311 166 61 70 172 61 243 70 172 4,355 3.961 4.3SS 3,961 Termination and redund*y payments made to staff in the period tOtald £142k {2023- £5kl The average number of perS{S empknyed by the Charty during the year was a$ follows.. Group 2024 Group 2023 Charity 2024 No. Charity 2023 No. Charitabte activities and cost of generating funds Management and administration of the charity 75 78 78 21 19 21 19 97 97 The average headcount expressed as fud4me equivalenls was". Group 2024 Grot 2023 Charty 2024 No. Charity 2023 Alo. Charitsble activities and eost of generating funds Management and adminislration of the charity 69 21 18 21 18 87 86 87 Page 33
DocLTr ETh¥thJpe ID". 5F795C68-DF22471C-9BEgE871945CF7F5 ThE ROYAL SOCIEfY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 (CONTINUED) 13. Staff costs l¢oDtSnued} The number of empknyees whose employee benefts lexthding employer pension c05ts} exceeded £60.000 was". Group 2024 £'ooo Groi 2023 In the band £60,000 - £70.000 In the band £70.001- £80.000 In the band £80,001 - £90,000 In the band £100,001 - £110.000 In the band £140,001- £150.000 10 empbyees12023-Twdve) eamirg mre than £60k in the Yearpar"paIed in recogni5ed pension schemes to which contributions of £55k were paid during the year12023 - £66k) on their beha. The total employee benefits of the seniof manageffnl team We £765k12023 - £660kl. A payment was made to E Taylor. the ftynw CEO. of £67,250 in respect of a SettMent agreemenL 14. Truslees. remunevatlon •nd expenses During the year. no Trustees receNed any remuneration or other benefits12023- £Nill. During the year ended 31 March 2024. expenses totaling £3k were reimbursed or paid directly lo 4 Trustees 12023- £1k to 4 Trusleesl. The expenses retate lo travel and subsistence costs incurred lo attend Trustee and other business rreelings and events. Page 34
Oocus*n EnveloFe KY. SF795C6F2247IC.gBEE87I9lscF7FS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2024 (CONTINUED) 15. Intangibh ass•ts Group and Charity Computer software At 1 April 2023 579 At 31 March 2024 579 Amortisallon Al 1 April 2023 Charge for the year 97 Al 31 Marth 2024 Net book valu• Al 31 March 2024 136 At 31 March 2023 233 Page 35
DOE19n En¥0 ID.. SF7gsc6F2247lc.gBESB71915CF7FS THE ROYAL SOCIEry FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2024 ICONTINUEDI 16. Tanglbl• fix•d *ss•ts Group and Charity Long4•mi leasehold pr¢perty Plant and machinery Flxtures and flttings £Y0 Computer equlpment Total £'ooo Costor valuation At 1 April 2023 Addits"ons 2m6 219 192 369 1796 33 At 31 Marth 2024 1016 219 21)0 2M29 Deptwialion Al 1 April 2023 Charge for the year 170 333 18 1289 47 15 Al 31 Marth 2024 175 351 1.374 Net book value At 31 March 2024 1J72 15 25 1.455 Al 31 March 2023 1.419 22 36 7,507 17. Herita9e assets Group and Charity Ass•ts rffo9nB atvaluation Heritag• asset £1)00 Carrying value at 1 April 2023 225 Carrylng value at 31 Mah 2024 225 The Society's archive of artwork aThJ posters was valuwj at £225.000 at 31 March 2023 by an expert from the Unrversity of Ats. London. p36
Docu5vJn EnvthJw10.. ¥79sC6&0F22471C.98E718lSCF?FS THE ROYAL SOCIETY FOR ThE PREVENTION OF ACCIDE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUED) 18. Flxed a$s•t In¥¢$tmonts Llsted Investments £'ooo Group and Charity Cost or valuation At 1 April 2023 Revaluatsons Management fees DI¥endS recebved and reinvested 4A16 205 {311 97 Al 31 March 2024 4.687 2024 É'ooo 2023 £'ooD HIoI1¢al cost at 31 Mah 4J26 4.156 Invesknents are hekl to a¢hve long term Caprtal growth wrth irKom&. An anatysis of the market value of Thiestrnents al 31 March is as follows.. 2024 £'ODO 2023 £000 UK equities Overseas equities Fixed interest Cash Other 1.030 1.473 1.139 563 1.351 1,280 938 241 606 4.687 4,416 Page 37
OoGwi9n Erwdopelo.. sF79sDF2247lC-98EE8719lsCF7Fs
THE ROYAL SOCIETY FOR THE PREVENTIQN OF ACCIDENTS
NOTES TO THE FINANCIAL STATEMETr¥rs
FOR THE YEAR ENDED 31 IAARCH 2024 ICONnNUED)
19. Subsldlary c
DO5jn ETh%h¥e ID.. SF795C6W22471C-9BÉgE871MXF7FS THE ROYAL SOCIETY FOR THE PREVENTK)N OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI Group 2024 £'ooo Group 2023 Charity 2024 Charity 2023 £'ooo Due within on year Trade debtors Amounts owed by group undertakings other debtors Prepayments and accrued ineome 872 1.55T 762 1.411 121 62 569 61 745 62 732 61 693 1,678 2.351 1.616 2,163 As at 31 Marth 2024 there is a bad debl provision of £139k {2023 - £222k). The impaimienl gain recognised in the statement of financial acl]vities for the pericxl in respect of bad and d¢bIful trado debtors was £70k (2023- £23kl. 21. Credllor&: Amounts falling due within on• year GTQUP 2024 £'ooo Charity 2024 £'ooo Chanty 2023 £'ooo 2023 Due wlthln one year Trade cied Amounts owed to group undertakings Other tsxalion and social security Other creditors Accruals and deferred Inco 187 375 348 282 265 64 3.125 282 265 3,113 2.839 2,914 3.625 3.829 3,369 3.591 Delerred income is in rdation to events and n*mkership fees received Hl than¢e. Income Is recogni58d in the ststemenl of financial acbvibes in the pefiod to which it relates. Deferred InMe released from the prioryearwas £2.448k {2023-£2,872kl and deferred income received in the current year was £2,587k12023- É2.494kl. Page 39
Dof)JsvJn En10." SF795C6&0F22471&9BEW71945CF7FS THE ROYAL SOCIETY FOR THE PREVEMTION OF ACCIDENTS NOTES TO THE F14ANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 {CONTINUEOI 22. Statem•nt of funds Statem•nt of funds leonsolidated}- ¢urr•ni year B*n¢eat Balan¢• at 31 March 2024 £'ooo Trnnsf•Ys {outllin £'ooo ILos¥•sy galns £'ooo 2023 ' In¢orne Expendltur¢ £'ooo Unr•stri¢ted funds 2.490 17,4481 {3881 1248} . Restrfcted lunds At Leisure- Other projects 17 15 78 Al Leisure- Maritme & Coaslguard Agency At Leisure- Scottish Govemment 1101) 11 At Leisure- Trintty House Maritime Charity Dft Fund 447 (174) 100 407 On The Road- Scottish Government 143 1202 59 On The Road- UK Govemment 88 On The Road- We15h Govemmenl 130 11571 27 In The Home- Coiporale Partners In The Home- Other projects 170 11731 In The Home- Northem Ireland Execulive 156) 21 P89e 40
DovJsign EnveknF¢10: sF795F22471El1xF7Fs THE ROYAL SOCETY FOR THE PREVENnoN OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 ICONTINUED} 22. Statement of funds Statement of lunds Iconsolidatedl - Trent year {continu) Balance at B¥lant• at 31 March 2024 £'ooo Transhw5 {outifin (Lossesv gal £'ooo 2023 kn¢om• Exp•ndliurn £'ooo In The Home- UK Government 1118) In The Home- Scottish Govemment 90 25 Donations 1J23 497 Total of funds 2.S53 8.581 (8.725) 1248) 2,161 To the extent costs of restricted fvnd projects are not covered by associated restricted income, ROSPA transfers in contrilwtions from unrestricted fwds. Page 41
En¥elope10.. 5F79Sc6F22471G9BÉÉ871ysCF7Fs THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUEDI 22. $tat•m•nt ol funds (continued) Statement of fvnds qconsolidated) - prioryear 8&lan¢6 at Balonce at 31 March 2023 £'ooo (Lossesy g8jris {t)n £'ooo unr0sttsd funds 618 7.473 (6.899) (22) 1.320 2.490 Restricted funds At Work- Corporate Partners Al Leisure- Other projects 70 (10) io 15 (8) 17 At Leisure- M*me & Coa51guard Agency Al Leisure- Scottish Govemrnenl Al Leisure- Trinty House marits.me Museum (33) (80) (514J 34 On The Road- Corporate Partners (2) On The Road- Scotttsh Government 15 147 (162) On The Road- UK Govemtrenl 324 (219) On The Road- Welsh Govemment 718 (118) In The Home- corrate Partners (112) Page 42
Do¢¥n Enveltspelo.. SF79ScDF2247lBE87l94FS ThE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 20241CONTINUED} ststement of fvnds (conlinued Slal8ment of funds l¢onsolidatedl - prioryear (Continued Balance at 8•lanc• èt 31 March 2023 Tra*Trsfets foulmn (Lossesy gains 2022 In The Home- Irdand Executive 71 (71) In The Home- Other projects Government 119 (179) In The Home- UK Govemment 150 (169? 17 By Inlluencing And Informing- Other projects 2T (27) 1,591 (1,644J 22 63 Total of fvnds 706 9.070 (8.543) 1,320 2.553 Page 43
Dr19 En¥Èlw10.. 5F7$F2247lC-98E7.ls4ScF7F5 ThE ROYAL SOCIETY FOR THE PREVENnoN OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINVED) 23. Analysis of net as$•ts b•tw•en fuDds Anatysls of net assets between lunds- cuvrent year Unreslrlcled lunds 2024 £'ooo Reslrlcted fvnds 2024 £'ooo Totsl funds 2024 £'ooo Tangible fixed assets Intangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year Defined benefit pension sche Ik4bdty 1,455 1.455 136 4,687 225 3,188 13.62SI 13.90SI 4.687 225 2.691 13,625) {3,905) 497 1.664 497 2.161 AnatyslB ol net assets ttWeen lund5- priOryr Restricted funds 2023 Total funds 2023 £000 funds 2023 Tangible fixed assets Inlangible fixe¢J assets Fixed assel investnnts Heritage assets Current assets Creditors due within one year Defined benefit pensK)n scheff IHblty I.7 233 4.416 225 3.584 (3.829) (3.646) 1,507 233 4,416 225 3,647 (3,829) (3,646) 63 Total 2,490 2,553 Page 44
DoGu%ign Envelope ID.. 5F795C6&DF22471C.gBEE6?194sCF7Fs THE ROYAL SOCIETY FOR ThE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 24. Re¢onclli•¢ion of net movement in funds to net $h flow op•rating activiti•s Gr¢P 2024 £'ooo Group 2023 £'ooo Net incomellexpendtturel lor the yew (a5 per Ststement of Financial Activits> 61 241 Adjustments lor: Depreciation charges Am¢)rtisation charge5 Investment revaluats.on Dividends, interest and rents from investrnents Investment management costs Decreasel{Increase) in debtors Ioecrease) in creditors Society pension contrr"butT"ons Pension cost5 borne ty Fension fd 85 97 1205} 197} 31 673 1204) 14151 221 93 108 286 (68) 30 (585) {3401 {344) 206 Net cash pn>vided byllused ID} 0rating aclivilies 247 (373) 25. Anatysis of cash and cash equlvahnts Group 2024 £'ooo Group 2023 £'ooo Cash in hand 1.510 1.296 Totsl ush and ush ¢quival•nts 1.610 1,296 Anatysis of changes in nel d•bt At 1 Aprll 2023 £'ooo At 31 March 2024 £'ooo Cash £'ooo Cash at bank in hand 1,296 214 1,510 1,296 214 1.510 Page 45
OooJ5i9n Envelup210.. SF795C6&0FT2471C-98ESE87194ThF5 THE ROYAL SOCIEtY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUED} 27. Pension commltm?nts The Society operates a defined benefft scheffe in the UK- the ROSPA RetlreffI and Death Benefits Plan. The latest trienni valuats.on of the Scheme was completed on 5 April 2022. Society contribut$ of £415k (2023 - £344k) were paid over the year ended 31 March 2024. This includes payments towards expenses of £58k12023- £65kl. The Soc*ty expects to contribute £376k {2023 - £361kl plus £50k I2023- £68kl in expenses to rts define(I benefft Pens scheme in the next financial year. Principal actuarial assunpb'orts at Balance Sheet date {expressed as weighted averngesl.. 31 March 2024 31 March 2023 Discount rate Salary increases Revaluation in defer{r1 Pension increases.. CPI max 3% p. RPI max 5% p. ortality assumpti¢)n 4.85 nla 2.70 4.70 2.45 2.30 3.10 110%of S3PA with CMI 2022 11.0%] 2.35 3.20 110% of S3PA with CMI 2021 [t.O%J with 25% allowance for 2020 and 2021 dat8 Under the mrtalty tables adopted. the assurwl Irfe expectancy at age 65 is a$ follows". At 31 March 2024 Yea At 31 March 2023 Yeats Male currently aged 45 Male currently aged 65 Female cUrrenY aged 45 Female currenty aged 65 21.5 20.6 21.2 20.3 24.1 23.0 23.1 Page 46
Dw)Jslgn En¥elcp ID.. 5F795c6&DF22471c-9BÉ87J945CF?F5 THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 20241CONTINUEDI 27. Pension commitments {¢ontlTru•d Amounts Re¢3n in the Balance Sheet at the Revivw Date.. Al 31 paarch 2024 £'ooo . At3t March 2023 £'ooo Fair vaue of assets Present value of defined benefft oblgation 6,940 110,8451 7,315 (10,961) {Deficit} 13.9051 (3,646) Amounts Recognised in the Statement of Financial Activities over the year to the Review Dale.. At 31 March 2024 £'ooo At 31 March 2023 Net interest cost ExnSeS (1631 (141) (65) Total (221 (206) . The major categories of assets as a percentage of toL4 assets hehj are as fc4lows.' At 31 March 2024 At 31 March 2023 Diversified Grovrth Funds Liability Driven Investhnt {LDI) Funds Fixed inleresl Cash aTrJ other assets 45 26 25 42 31 25 100 100 The actual rettyn on the Plan's assets over the year to the Rev*w Date was 0.3%12023- 3%}. The assets do not indude any direct investrnent in the Sou"ety. Page 47
Oowsgn En%tspe10.. 5Ff95C6w22471C-9BE871915cF7F5 THE ROYAL SOCIEfY FOR THE PREVENTION OF ACCIDENTS NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUEDI 27. Pension CorlImThts {¢ontinugd) The chge in assets over Ihe perK>J was.. At 31 March 2024 £'ooo At 31 March 2023 £000 Assets at the beginnry of the penod Interest income Contributions by employer Expenses paid Benefits paid Actuarial Ilossygain on assets 7.316 336 415 1581 (7131 (3551 9.853 258 344 (65) 1854) (2.221) Total 6,940 7.315 The actual relum on scheff* assets was £336k {2023- £258kl. Movements in the present value of the defir benefft Oblats)n were as folbws" At 31 March 2024 £'ooo At 31 March 2023 £'ooo Defined benefit obhgation al Ihe teginning of the pernd Interest cost Benefits paid Actuarial gainlllossl - assumpb.ons - expenence (10.9611 14991 713 1S1 1249} {15,203) (399) 854 4.613 (826) Dgfined benofit obligation at the end of the peri(wJ 110.845) (10,961J Pagè 48
Do¢#J5pin Envdcye ID.. 5F795C6&tF22471C.98E9É871915CF7F5 THE ROYAL SOCIETY FOR THE PREVEPrnON OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 IAARCH 2024 (CONTINVEDI 27. P•nsion commltments l¢ontinu¢d) Defined benefit costs recognised in olher conyehensive income." At 31 March 2024 £'ooo At 31 Alarch 2023 £'ooo Experience Ik)sses) on Scherr* liabilrb'es Assumption gains on Scheme lbIlItIeS Experience (losses) on Scheme assets 1249} 151 1355 (826) 4,613 {2,221) Totsl Ilossllgain rewntsed in other corryrehensNe (4531 1.566 The penOn scherne includes insured pensK)ner PleS lating lo six pensioners to the value of £253k {2023- £313k). 2& OpeAting lease cornmitments At 31 March 2024 the Group arKI the Charty had ec¥nmitments to make ftrture minimum lease payments under non•eancellable operth.ng SeS as fo11ry: Group 2024 É'ooo Gr(p 2023 Charity 2024 E'OOO Charity 2023 £'ooo Land and 8uthlings Not later than 1 year Later than 1 year and not later than 5 years 39. 63 39 63 46 33 46 Land and Buiklings 72 709 Other Not later than 1 year Later than 1 year and not laier than 5 years 5 or more years 376 428 376 290 508 45 508 45 718 929 718 929 1.038 1,038 Page 49
D¢¢JJsi Elope ID.. SF795C6224?lc-gès877>l5cF7F5 ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 29. Flnancll Actlvttles of the Charfty The financial activities shown in the consdidatwj staleffTrt include th¢)se of the Chanty's wholly owned subsidiary. ROSPA Enlerprises Limited. A summary of the finanual acbwts undertaken by the Ch¥ity is sel out beh)w. 2024 £'ooo 2023 £'ooo Gross incorrdng resources 7,573 8.122 Nel {outyowig)rincoming resources (144) 1.088 Nel movement in fvnds 1392) 1.847 30. Rekted party transa10$ There are no rdated paty transacts.ons or baknces to report other than those reFty)rted in note 13. Pe So