Docusign Envdwe ID.. 5F795C6&DF22471c.98E￿671￿5CnF5 R•giSt•r•d number: 00231435 h*iity 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-98￿87l94XF7FS ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS Page Relevence and Adminiatrntlve Detail* ofth• Chavity. N8 Tru8tw and Adv••vs Tru*tee8' 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 DO￿1￿ Envelope ID.. SF795cWDF22471C-9BE￿1l8•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 I￿￿79ned 29 N(r4ember 2W241 3 years S Kirk 5 years J McNulty I￿SIgned 29 Noven*er 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 {a￿Ointed 12 September 2￿4) 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 N￿n%)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 AchieverY*nts Director Ind•p•ndenl auditor BDO LLP Two Snowhill Bimiingham Page 2 Do￿￿9n Er￿￿pel0.. 5F7g5C6W22471C-9eE￿E8719I5CF7Fs 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 C￿￿On'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 Ens*lope ID.. 5F79Sc6￿F22471C.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. ap￿inted 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 ott￿r Cfileria requirenEnts are meL Trustees must be aged 18 or more and have an interest in or thlls, experience or knowledge relev￿1 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 rÈax￿5 and rn11￿81e 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 Obj￿￿Ve$ of the SoeAety as Ihe UICS leading safety ch￿￿￿. Trustees may t¢ rwurted frIMn, or on the recomm￿￿10n of, organisaiions that encompass particular skils sets or professional S￿lIs. Huwever. appointrnent of a Trustee is based on the qL￿lIty and s￿lIS ofthe individu and not sirr¢ty by nomination of a parti￿￿r or9anisation. An inter¥ivw wocess t&*e tthe before an irKlb¥idual ts recornff￿￿e￿ 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 ap￿intmen( and during their term of office. training needs are h1enlffied aTrJ addressed. A¥ part of the Board ol Trustees. a Remuner*w Commth is eStab1￿he￿ to rrKJnitor. discuss and recommend the remuneration of the tharity's key personnd. S￿alle$ 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 folltr*ing 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 actpl￿eS and monrtors business perfomia . Nominations Commttee (Nomcom) The ROSPA N(wninations Committee mOnit￿S and re¥￿￿$ the skills mix of the Board. identifies areas for imwovement WKI makes recorM*ndati(Jns to the Board ￿ mattas relatiTrJ to the recNitment of new Tntslee Page 4 DO¢￿￿3n Envelope ID.. 5F795¢6&DF22471C-9￿E6?l94$¢F7Fs THE ROYAL SOCIEtY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUEDI THE YEAR ENDED 31 MARCH 2024 PlaThagèm•nl Committees and the declslonwm*king pro¢•ss Iconllnued) . Human Resources & RemuneratM?n Committee (HRRCOM) HRRCOM determines. within the policy approved by the Board. the rernune1al￿n 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 Pert0rrnar￿e 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 SL￿Ul0ry and regulatory purposes, revws the reports and findings of the extemal auditors and reviews the processes governing risk management ar￿ intemal control withm ROSP . Inveslft*nt 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 inveSt￿nI 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 fi￿tIOns. Their role includes approving awarding organisalions. policies and procedures. establishing aims and objectyves, setting largets and agreeing budgets and ￿VIewIng quaIrf￿alion 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 s￿iety by convening le*r5, setting standards, sharing excellence and drrving thange. ROSPA'S Vision: An accthnt free W0￿d. .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 ever￿hangIng world. Inereasingty ROSPA seeks to deTr￿￿rY3lrate the effectiveness and value of the work that it does. ROSPA seeks to effect p9s￿Ve change through ils work as a promolef of key safety issues and as a provider ofrelevantserv￿e$. The Society collects dala, carries outreseareh. develops policies, inform$, educates. audits and provides expert consultancy in each of ihe following areas.. Al work. At leisure. On the road. In the home. Page 5 DoeJAHJn EnveknpE10: 5F795C￿OF22471C-98EW19ISCFYFS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDEPWS TRUSTEES. REPORT ICONTINUEDI THE YEAR ENOED 31 MARCH 2024 Publlc Benefit A comprehensive revie* of RoSPA'5 &tivibes duriThJ the year ended 31 March 2024 is presented below. Through these initsatives. ROSPA continued to focus on achwing its mission and VISI￿ and the Trustees are sab'sfied that the Charity conb'nues to meet the required publ￿ benefrt lestr. there ts a clear public benefit and ROSPA'S activities are designed and implemented to meet IL The Trustees have had due regard lo the Charity Commission guidance on public benefrt when reviewing the ¢haritie$ aims and obJ"e¢ts"ves and in planning future ath'vities. F¢ylurther information and a more detailed review of achievem￿tS and perf0M￿nce, 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 Un￿rtaInlies. Stalement ol Trustees. Re$ponsibilths. Audrtors. Annual Review 2023124 Introdu¢¢ion This year, our collectNe efforts have propelkd us to heights. increasing our influeno in the UK and globalty in our strategic mIss￿Th to inspire others arHI ¢￿te real change to people's INe$. Our Health and Safety Awards scheme continued to grcm, ROSPA QUaIfficat￿nS expanded its reach and infbjence, and our training. &Learning and consultary se￿1￿$ 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 develOp￿￿nI ol new internal systems. prccesses and a new customer focussed website. The appointment of Steve Cote as Director of Poly. Campaigns and Public Affairs COMff￿nCed 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 d￿aleS 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$￿n Erwelopelo". 5F795C6&DF22471C.9eE9E871945CF7FS THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUED) THE YEAR ENDED 31 IIARCH 2024 Annual R•vi•w 2023124 (¢ontinu•dl Highlights Aprm 2023- March 2024 ROSPA Awards 2023 A reeord-breaking number of organisations demonstrated their commitment to ￿cupa￿"0nal health and safety with almost 2,000 entries submrtied from across over 50 countries. Entrants spanned a range of seetors. Irom manufacturing and construcb.on to f*ll￿e$ management and healthca￿. Setting standards Edge Services worked with ROSPA Quahfical￿s to create an innovabve new qualffication to give staff the confidence and skills to work ft￿re 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 publ￿hed a report. in Conlunctm￿ with Trent & Dove HousiThJ. investsgaling the incidence and causes of avoidable faus among housing aSsociat￿n 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, fi￿wOrks, blind cords. seasonal safety. charger5, baby bath seats. batteries, leaning products and child aCc￿ents 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 r*Jer needs lo sklll up and ride safety. The launch of 8 new Active Travel Hub to help everyone con*der h¢JW they can include more cycling and walking Into their lifestykn- and remain safe whibl dryng $0. RoSPA'5 parttipation in the debate over the Prime Minister, Rishi Sunak. announcing plans to block councils imposing 20mph speed limits wÉlh Oirector of Poly, Steve Cole, featured on Radio 4's Today Programme and on the BBC One Show. ROSPA'S Life President Lord Jordan chamenging the slandir*J Govemff*nt on its failure io act on publishing a revised road safety strategy. ROSPA hosted a round table 4wth Shadow Minister for Roads Bill Esterson MP where a range of views on the road safety seclorfs concems and needs were raised as part of the Labour Party's policy development ocess. Page 7 D0rJJ￿n Enveknpe10.. 5F795C6&0F22471&9BE￿8719IgcF7F5 THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS TRUSTEES. REPORT ICONTINUED) THE YEAR ENDED 31 MARCH 2024 Annual R•view 2023124 l¢ontinued) Making our n¥èds safer (¢xntinued Director of Polw, Steve Cole represented ROSPA * a rou￿1 labbe on the Automaled VehKles Biu with the Rl Hor￿Urable Mark HarFW MP Secretary of State for Transport. PaTI￿rnentary Under Secretary of Stale Anthony Browne MP and other inlluenl￿l or9anisations. The S¢ORSA grant prqecl aehieved key delNerable of 25 per cent membetship grrywlh and exceeded targets for the Road Safety Webinar attendance. ROSPA secured its 5L>th year of Ro•J Safety funding in Wales. to deliver a grant programme lo help address national priorities. ROSPA hebj a signfficant. funded role In the pre and post Imp￿rrentatiOn phases of the Welsh Govemmenys comrThtment to Introdu￿ a detrdult 20nyh speed Iwnrt on ￿$trthd roads in Wa￿. Saferamund water ROSPA led the UK response lo the Vthjrfd Health A$Ser￿'S first-ever resolutron on trchvning prevention. ift conjunthon with the World Health Organisation (IANOI. The report wll be the first of ts kind to measure the magnitude ol drowning SFeoffic to each county. as well as to assess the impkn￿ta￿.0n of evidencfrbased inlervenlions lo prevent and respond to drowning at a global bèvel. As wt of their lea¢J role in Water Safety Scouand. RoSP& in partnership with the Scottish Fire and Rescue Service. launched the hwhty ant￿ipated Drowning and InC￿ent Review prctess- one of the firsl of its kind in Ihe world. Financial Review of ROSPA 2023f24 The Swety's Key Perfomwnce IndKators are net expendilure1i￿orne (before net lthsesllgains on investments} and the balance of Un￿$trthd fvnds. The Society gerwaled a net deT￿rt of £144k for the year {2023 - £527k surplus). This included a £221k {2023- £206k) charge in respect of the le9acy final sa￿ry penS￿n 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 mil￿OnI 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 c*anng the lunding defiat over Ihe ￿￿dIuM ierm. The latest triennial valuation of the S¢heme was comwed on 5 April 2022. The additional annual ￿ntribut￿n8 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 r￿o￿lse the need to tr￿ld 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 a￿ets. including Heritsge and Intangible assets of £361k12023 - £458kl. As at 31 March 2024 these coMpr￿ed a total of £3.753k12023 - £4,171 kl, a decrease of £418k for the year. Page 9 Én%*lope ID.. 5F795c6&DF22471C-98E￿87191ScF7F5 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. Overtr*e 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. Pl*n8 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 rn1￿0n- Exchanging life-enhancing skills and knowledge lo reduce serious acC￿ents1 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 profess￿nal seNices induding training. consultancy. qualIficat￿n5 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 acC￿ental Injur￿$. ROSPA will collaborate wrth a wide array of organisalions. including GovernThntal departments, businesses and other bodies, trom the UK and around the globe. In Ihe upcoming year. we are excited to announ￿ our plans to upgr*le our IT systems to a cloud-based soluts'on. This strategtc move is designed to enhance our operab.onal efficiency and Rex￿l11ty, enabling us to better focus on and advance our Miss￿n. Page 10 Docu*n En*lope ID.. 5F795C68-DF22471C-98EfvE871915CF7F5 THE ROYAL SOCIETY FOR THE PREVEpffioN OF ACCIDENTS TRUSTEES. REPORT ICONTINUED) THE YEAR ENDED 31 MARCH 2024 Prfncipal Risks and Un¢ertaln¢i•s Identificatlon and Management of Risks The Board a$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 pro￿55. 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 incI￿le. 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 Signifi￿nt 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￿ enVirc￿Ment 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 Sp￿1fiC prctedures to monitor such activities. Page11 Dowsiyn En¥dtye ID.. sc795￿￿F2247Ic-90E￿E67I945¢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 aPpI￿ats1e law and regulations. Company law requires the Trustees to Prepa￿ financi￿ staterr￿ts 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 poI￿leS and then appty them consi8tently." observe the methods and principles in Ihe ap￿1¢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 State￿nts 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 financ￿1 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&0F22471G*E￿871g4￿F7Fs 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.gBE￿87194ScF7FS 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 State￿nIS.. 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 in￿ming resources and appl'caknn of resources for the year then 8nded', have been prC￿e￿ prepared in accordance wtth United Kingdom Generalty A￿epted Ac¢ounts'ng Practice", and have been wepared in ￿￿darKe with the requirerr*nts 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 al￿nded. 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 preparat￿n 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 b*ve 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 State￿nts in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsi￿[be$ in a￿or￿ar￿e 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 aLtho￿d 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 respons*le fortr* other information. The olher Wbfom)al￿n 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 othe￿ise 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)at￿n is materialty In￿nSiStenI 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¢u￿9Th 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 wh￿h includes the DI￿lor5. 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 p￿Pared in accordance with ap￿1¢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 ￿enIl￿e￿ 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} Regulat￿lnS 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 financ￿1 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 inforMat￿n 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 p￿paration 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 con￿rn. 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 char￿e5 and Trustee Investment (s￿van￿) 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 a￿ayS 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 Irregularit￿S. inthding fraud. are instances Ofn￿￿np￿an¢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￿$, includin9 traud is detailed below.. Page 15 Dow*9n En¥¢lope ID.. 5F795C6&DF2247IV￿E￿8?l9lsCF7Fs THE RQYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF ThE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS (CONTINUED) Extent to whKh the audit was capabl8 ofdetecling ryulaiities. induding fraud (wntinuedj Non-compliance with laws and regulalions Based on: Our understanding of the Group and the seclor in whth it operates". DiscussK)n management and those Charged wth governartce induding Audit and Risk Commrttee,. and Obtaining an understanding of the Group's w)1￿leS and procedures regarding Compliance with laws and regulations. We considered the signifKant laws and regulat￿5 to be the Charities SORP IFRS 1021- second edition and the Financial Reporting Standard 102 Thp Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Geneially Accepted Accounbng Practice). The Group is also subject lo laws and regulatNJns where the consequence of nonN OF ACCIDENTS CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Total funds 2024 £'ooo Tolal lunds 2024 lund$ 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 9alnsl1l￿s￿I on Inveslments {1911) 11441 527 Net gainsl(hsses) on inveslff*nts 18 205 (286) N•t incom 15 61 241 Tr•n$fers betr￿en fijnds . Net movement in lunth before oth*r re¢ognised U055e5ygain5 (3731 434 61 241 Oth•r recogniw Oos6•5llgains: ACtU￿al Oossesll9ains on defined benefit pen￿on SL*emes 27 14S3) 1.568 Gains on revalual￿n offixed assets 17 40 Net mo¥wnont In funds 11261 (3921 1.847 Re¢onciliation of funds: Total funds brought forward Net m￿lement in lunds 2.553 13921 706 1,847 1826) Totsl fund8 ¢arrled fomird 497 2.161 2,553 The ConsolKlated Statement of Financial Acbvities wKludes all gains and losses rewnised in the year. The notes on pages 22 to SO fm part of these finanrya stalenwts. Page18 DO￿519￿ Enwlope ID.. SF7KC68-DF22471C-9BE￿87IY4$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 c￿dItorS.. 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 I￿￿lity 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.. 5F79Sc￿DF22471C-￿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.9BE￿E871glsCF7Fs 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 State￿nts Pa9e21 Do(JJ51w ElYvek*pe1￿. 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 rr￿mb￿S as al 31 March202412023- 2,99)}whoare liabletocontribul 50p each in Ihe everrt of the S￿￿ty being wound up. The Society is a reg￿tered 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 theCharil*s 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 a￿l￿ble in the UK and Republic ol Ireland (FRS 102) and the CLMnpanies Acl 20(￿. The Royal Society for the Prevenb)n of Ac￿dentS 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 lin￿bY41ft8 basis. The Charity has taken advwe of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Stalen￿nI of Financial ActivitEs in these financ￿1 ststemenls. The financ￿1 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 suff￿lent1Y 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 tr￿Se 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 apPort￿ned on a timg basts. Aw*ds. 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. In￿me tax recoverable in rek*'on to investment income is recognised at the time the investh￿nI 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 Ex￿nditUr? 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 classif*d 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 t*tween 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 5ts*ng at the rate ruling on the dale of the transaction. Exchange gans and h)sses are recognised in the Consol*Jated Statement of Financial Acbvities. Page 23 Doojsigm Envelcye ID.. 5F79sC6￿FZ2471C-gBE￿E87I94$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 reCOgn￿ed when future ecc*K)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 recognit￿n. under the cost model. intangible assets are measured at cost less any a¢￿my1ated arrthisation and any ￿UMUlated Impalm￿nI losses. AtrKJrtisabon is provided on intangible assets at rates calculated lo write off the cost of each asset on a sliaight-line ba￿5 ovei rts expected useftd life. Arrx)rtisation is prowded on the frAI(Y*ing 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￿ ￿n￿ed 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 S￿h141ne method. Dep￿cIatIOn is pro￿ded on the fdlcfi￿n9 basis: Long-lerm leasehold wopety Plant and mathinery Fixtures and fittings Computer equipment 2% 7% 15% 25% Page 24 DoeJjS￿n En¥¢lopE10." 5F79SC6￿F22471C-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 neceSs￿y. 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 depre￿ats"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 Activit*5 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 'G￿n￿{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 m*urty of three months or from the date of acqui$rt￿n or opening of Ihe deposrt or similar account 112 Liabiliti•s Liabilities and provisions are recognised when there 15 an oblyat￿ft at the Bala￿e 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 settle￿￿nI 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 li*bilities 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 financ￿1 a55ets and financial liabililres of ? knnd qualtfy as basic financial inslrumenls. Basic financial Instruments are initsaly ￿ognIsed at transaction vaue and subsequently measure be used in ac￿rdanCe with specific restrtctws imposed by donor5 or wh￿h have been raised by Ihe Group for particular wrposes. The costs of raising and administering such fvnds are charged against the specifK fund. The aim and use of each restricted fund is sel out in the notes to the financial ststeffents. Investment income. gains and h)sse5 are alocated to appropriate fvnd. Page 26 0¢7cJJsiw En¥eW1￿. 5F795c6&DF22471WE￿871945cF7F5 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 eva￿ated 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 I￿￿gernent 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 res￿Ual 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 imp*rment the carrying amount ofthe debtor is redu¢eE871945CF7F5 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• Unl￿triCted 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 ￿$ts Unwestricted funds 2024 É'ooo Total funds 2024 É'ooo Investment management fees 31 31 Unrestrithd funds 2023 Total funds 2023 £'ooo Inves1n￿nt management fees 30 Page 30 Doty￿9n En4*lope ID.. 5F795Cfj&DF22471C-98EW71945CF7F5 THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUED) 10. Anatysi$ 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¢us*Jn Envdopelo." w95C68-DF22471C.g8E￿37l94￿F7F5 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 di￿dIY 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￿"Irt*s. 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 Dep￿ciation offixed assets ArYK)rtJ'sabon of intsngible fLxed assets 69 11 389 85 97 68 479 93 108 Page 32 Doww9n Er￿lope ID.. SF79ScWF22471G9ÈÉ￿E87l94$¢F7Fs THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI 13. Staff costs Group 2024 Group 2023 Charity 2024 £'ooo Charity 2023 £000 Wages and salaries Social security c05ts Pension costs Operatin9 Cost of pensK)n defined benefit pension ￿heme Other employee costs 3,531 341 179 3.242 311 166 3,531 341 179 3.242 311 166 61 70 172 61 243 70 172 4,355 3.961 4.3SS 3,961 Termination and redund*y payments made to staff in the period tOtal￿d £142k {2023- £5kl The average number of perS{￿S empknyed by the Charty during the year was a$ 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 DocL*Tr 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 manageff*nl team We￿ £765k12023 - £660kl. A payment was made to E Taylor. the ftynw CEO. of £67,250 in respect of a Sett￿Ment 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. SF795C6￿F2247IC.gBE￿E87I9lscF7FS 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 DOE￿19n En¥￿0￿ ID.. SF7gsc6￿F2247lc.gBE￿SB71915CF7FS 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 £Y￿0 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 Ma￿h 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. p￿36 Docu5vJn EnvthJw10.. ¥79sC6&0F22471C.98E￿718lSCF?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 HI￿oI1¢al cost at 31 Ma￿h 4J26 4.156 Invesknents are hekl to a¢h￿ve 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.. sF79s￿DF2247lC-98E￿E8719lsCF7Fs THE ROYAL SOCIETY FOR THE PREVENTIQN OF ACCIDENTS NOTES TO THE FINANCIAL STATEMETr¥rs FOR THE YEAR ENDED 31 IAARCH 2024 ICONnNUED) 19. Subsldlary cfrt 402 561 The aggregate of the assets. ￿'abIll￿e$ and fvnd5 was.. Assets Liabilities 300 {3001 359 (359) Funds (repr•s•nling 2 ordinary $hares of £1 tach Page 38 DO￿5￿jn 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 In￿Me 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 En￿￿10." 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: sF795￿￿F22471￿E￿l1￿xF7Fs 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.. 5F79Sc6￿F22471G9BÉ￿É871ysCF7Fs THE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUEDI 22. $tat•m•nt ol funds (continued) Statement of fvnds qconsolidated) - prioryear 8&lan¢6 at Balonce at 31 March 2023 £'ooo (Lossesy g8jris {￿t)￿n £'ooo unr0st￿tsd funds 618 7.473 (6.899) (22) 1.320 2.490 Restricted funds At Work- Corporate Partners Al Leisure- Other projects 70 (10) io 15 (8) 17 At Leisure- M￿*me & Coa51guard Agency Al Leisure- Scottish Govemrnenl Al Leisure- Trinty House marits.me Museum (33) (80) (514J 34 On The Road- Corporate Partners (2) On The Road- Scotttsh Government 15 147 (162) On The Road- UK Govemtrenl 324 (219) On The Road- Welsh Govemment 718 (118) In The Home- cor￿rate Partners (112) Page 42 Do¢￿¥￿n Enveltspelo.. SF79Sc￿DF2247l￿BE￿87l94￿FS ThE ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 20241CONTINUED} ststement of fvnds (conlinued Slal8ment of funds l¢onsolidatedl - prioryear (Continued Balance at 8•lanc• èt 31 March 2023 Tra*Trsfets foulmn (Lossesy gains 2022 In The Home- Irdand Executive 71 (71) In The Home- Other projects Government 119 (179) In The Home- UK Govemment 150 (169? 17 By Inlluencing And Informing- Other projects 2T (27) 1,591 (1,644J 22 63 Total of fvnds 706 9.070 (8.543) 1,320 2.553 Page 43 Dr￿￿19￿ En¥Èlw10.. 5F7$￿F2247lC-98E￿7.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$•ts b•tw•en fuDds Anatysls of net assets between lunds- cuvrent year Unreslrlcled lunds 2024 £'ooo Reslrlcted fvnds 2024 £'ooo Totsl funds 2024 £'ooo Tangible fixed assets Intangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year Defined benefit pension sche￿￿ Ik4bdty 1,455 1.455 136 4,687 225 3,188 13.62SI 13.90SI 4.687 225 2.691 13,625) {3,905) 497 1.664 497 2.161 AnatyslB ol net assets t￿tWeen lund5- priOry￿r Restricted funds 2023 Total funds 2023 £000 funds 2023 Tangible fixed assets Inlangible fixe¢J assets Fixed assel investn*nts Heritage assets Current assets Creditors due within one year Defined benefit pensK)n scheff* IHblty I.￿7 233 4.416 225 3.584 (3.829) (3.646) 1,507 233 4,416 225 3,647 (3,829) (3,646) 63 Total 2,490 2,553 Page 44 DoGu%ign Envelope ID.. 5F795C6&DF22471C.gBE￿E6?194sCF7Fs THE ROYAL SOCIETY FOR ThE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 24. Re¢onclli•¢ion of net movement in funds to net ￿$h flow op•rating activiti•s Gr¢￿P 2024 £'ooo Group 2023 £'ooo Net incomellexpendtturel lor the yew (a5 per Ststement of Financial Activit￿s> 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 f￿d 85 97 1205} 197} 31 673 1204) 14151 221 93 108 286 (68) 30 (585) {3401 {344) 206 Net cash pn>vided byllused ID} 0￿rating 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 Retlreff￿I 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{r￿1 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 cUrren￿Y 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-9BÉ￿87J945CF?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 Ex￿nSeS (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 Investh￿nt {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-9BE￿871915cF7F5 THE ROYAL SOCIEfY FOR THE PREVENTION OF ACCIDENTS NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241CONTINUEDI 27. Pension Cor￿lIm*Thts {¢ontinugd) The ch￿ge 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 Obl￿ats)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 l￿bIlItIeS Experience (losses) on Scheme assets 1249} 151 1355 (826) 4,613 {2,221) Totsl Ilossllgain rewntsed in other corryrehensNe (4531 1.566 The pen￿On scherne includes insured pensK)ner P￿￿leS ￿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￿ E￿lope ID.. SF795C6￿224?lc-gès￿877>l5cF7F5 ROYAL SOCIETY FOR THE PREVENTION OF ACCIDENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) 29. Flnancl*l Actlvttles of the Charfty The financial activities shown in the consdidatwj staleff￿Trt include th¢)se of the Chanty's wholly owned subsidiary. ROSPA Enlerprises Limited. A summary of the finanual acbwt*s 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 transa￿10￿$ There are no rdated paty transacts.ons or baknces to report other than those reFty)rted in note 13. P￿e So