2021-03-31-accounts

THE UNIVERSITIES FEDERATION FOR ANIMAL WELFARE (A company limited by guarantee) Sc1￿cE INTHE 5EIMCE OFANIMALWELFARE Report and Financial Statements Year ended 31 March 2021 Charity no: 207996 (Registered in England) Company no: 579991 Sclence In the Service of Animal Welfare

Contsnts Page Legal and Adryllnistrative Infom￿11¢ 2and3 Council's Rew1 5t014 Independent A￿li10[s. Reptht to the Mewers 15to17 Statement of Fmancial Activiti'es 18 Balance Sheel 19 Cash flow StateffEnt 20 Notes Forrr¥ng Part of the Fman(aal Slaleffler 21to28 GENERAL DATA pRoTECTK￿ REGULATION 2018 In May 2018 the Data Protect Act 1988 was sUPe￿eded by GDPFi In nne with relevant law5, th chavity h35 legal obligath?ns relabng to IKW it collects. stiyes. uses and proce$ses persona information. Members, subs¢ribern and olhets who have agreed lo be on UFAWS regular mailin list are r￿1nded that thwr •vJ •Jdres5es are held on wnplrter forthe production of addres labels. Details of S￿SeriptIOnS and donations receNed are a0 recorded for aLidit purpos85 ar¥J. where payments are made by dorbations or subscrptw)ns qualify*ig for tax rel￿, the amounts a listed lo support claims for recovery ol incom8 tax from HM Revenue & CuslcAns.

The Unlversltles Federatlon for Anlmal WelfarE (Company limited by guarantee No. 579991 Registered in Er¥Jland Charity No. 207996) Legal and Admlnlslratlve Informatic Vlce-Presidents: Professor R S Andefson BVMS PhD MRCVS Professor P M Biggs CBE Dsc DVM FRCPath FRSB FRS FRCVS L A BrcMwn MBE BVSC BA PhD FRSB FRCVS Professor P H Holmes OBE BVMS PhD FRCVS FRSE B Howard BVMS PhD FRCVS J H Pratt BVM&S DVSM FRCVS G D Sales Bsc PhD AKC MRSB t)i)TCDHE Councll: (who are the Directors of the L#nited Company) Chalmian: A G Simmons BVMS Msc MRCVS 123 Vke£halmian: Honorary Treasurer. M Radford OBE LLB I C Mccann Bsc ACA 1 3 S Abeyesinghe Bsc Msc Pho Professor R M Bennett Bsc Msc PhD 1 2 J Downes BVSC MRCVS A Enticknap PhtF Professor A N￿an OBE MVB OipECVA DipECVPT DVA MRCVS B North MBA Msc PhD I {to 21.09.2020) A 015son Msc PhD 3 D Priichard Bsc Bvetmed MPH MRCVS 2 O R Sargan MA PhD ? ) l Member of the Finance Panel ? Member of the Fundraising Panel J Member of the Grant Panel

The Universities Federatlon for Anlmal Welfare (Corrpany limited by guarantee No. 579991 Regtstered in EfwJland Charity No. 207g96} Legal and Admlnlstratlve Infomiatlon (continued) Staff: Chief Executivelscientific Direcior. Huw Golledge 8Sc PhD Charity Secretary.. Jane Moornian Assistsnt Scierrtific Director. Scientific Officer.. Development Officer. Managing Editor- Sub Editor. 8irte Nielsen Bsc Msc Pho (from 21.09.2020) Elizabeth Carter BSG Msc Stephen M Wckens Bsc Pho Steven Weddell Bsc BVSC MRCVS HND Claire Richardson BSC. BVM&S, CertLAS, MA (ODE) (Open), PhD, FHEA,.MRCVS FundraisIn￿C0mMun1¢ats.0n5 Manager. Tracey Woods MCIPR Office Statr. Samantha Griffin we￿ L Goodwin rina Langford Princlpal Offlce: The Old School. Brewhouse Hill. ealhampslead. HertfoTdshire AL4 8AN Telephone: [phone] Fax: [phone] Website.. VTréW.ufaw.org.uk E-mail: [e-mail] Reglstered Audltors: UHY Hacker Young (East) Ltd, PO Box 501, The Nexus BuildrKJ, Broadway, Letchworth Garden City, Hertfordshire. SG6 9BL. UK Bankers: HSBC Bank plc. 31 Chequer Street, St Albans. Herts. AL14YN 8arclays Bank plc. 33 Darkes Lane, Potters Bar, Herts EN6 18A, UK Santsnder UK plo. Bn'dle Road, Bootbe L30 4GB, UK Sollcftors: thers LLP. 16 Old Bai*. LoNlon. EC4M 7EG. UK Investment Advlsers: Smith & Wlliamson Investrnent Managers, 25 Moorgate, London EC2V 5NS, UK

COUNCIL'S REPORT The Trustees of the Council (who a￿ also the DirertOT5 of the Company for the purposes of Company Lawl present iheir report and the financial staternents for the year ended 31 March 2021. which have been wepared in accordance with current statutory requirements (Companies Act 20C6), the requirements of the charity's goveming d￿Urnent {i.e. the Memorandijm and Articles ofAssoaation), the requiTements ofthe Slatementof Recommended Practice for Charities 2015 and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (EffectNe 1 January 2015). Objects The objects of the Federation are: To prevent cruelty and promote humane behaviour tovards all animals whether domestic or wild, in the United Kingdom or abroad. so as to reduce or eliminate pain, fear. suffering, distress or lasting hami inflicted upon them by humans. and in pursuan￿ of this airn to enlist the energie5 of members ofuniversities, professional men and vnmen and all others who work with. are responsible for. or care ab￿l animals. To encourage and Promote. through the process of education, good management, and husbandry waCti￿ vthereby the needs of animals are properly understood and met, and in advancement thereof, to contribute to the store of scientific knovAedge by funding and engaging in animal welfare research and by publishing the resulls ihereof. Organlsatlon The Universitss Federation for Animal Welfare (UFAW). founded in 1926 under a trust deed. is a registered charity {No. 2079961. UFAW is also a I￿1panY limited by guarantee and not having share capital {No. 579991 }. The members of the Council of UFAWforthe time being are the directors ofthe company. There are usually 12 mentss of Councd. are ele(#ed on a rotation of 3 members per annum. Council meets three to four times per annum and subgroups also meel to review the Federation's finances, fUndraisi￿j strategy, grant appbcations and other matters as appropriate. The senior member of staff is the Ch￿f Executr¥elSc*ntific Direutor who is responsible, under the Council's govemance, for taking forward the Federation's programme. The Chief Executive is assisted by a SerNor Management Team cornprisir¥J of the Assistanl ScEntific Director and the Secretary. Members will be aware that the members of Ihe Council of UFAW also are the Trustees of the charity The Humane Slaughter Association (HSA) vthith, unYA(e UFAW, is a Charitable Incorporaled Organisation. UFAW and HSA ioindy own The Old School premises at Wheathampstead in the proportion % UFAW: IA HSA. Councll A list of Members of Council who ser¥ed durr¥J the year lo 31 March 2021 is at page 2. Statement of C¢)uncll Responslbllities The Council of Trustees (who are also directors of the Universities Federation for Animal Welfare (UFAW) for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordan￿ wtth applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Tnjstees must prepare the financial statements in accordance V￿th United Kingdom Generally AC￿pted Accounting Practice (United Kingdom Accounting Standards and applioable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair vitrN of the stale of affairs of the charitable company and of the incorning res0￿$ and appl'cation of resources, irKludirvJ the incoffle and expenditure, of the

charitable company for Ihat period. select suitable accounting poliiies ar#J apply them conSist￿ty: obseThe the nEthcwJs and winaples in the Charities SORP: make judgements and accounting estimates Ihat are reasonable and prudenL state whether applicable UK Accounts'ng Stsndards have been followed, subject to any materia departures disclosed and exFdaird in the financial statements: and prepare the frwicial slatements on the gowbg (X)nc￿ basis. The Trustees are responsible for keepiro adeq￿le accountyig records that are sufficient to show and exFAain the charitable companys transactions and disctose with reasonable accuracy at any time the finarKial F)ositson of the tharitable company aNI enable them to ensure that the financkgl statements comply ￿ryth the Companies Action 20(kS ￿ h￿e wmplied %ith the duty in section 17(5) of the Charities Act 2011. They are also responsible for safeguarding the assets ofthe company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance arKI integiity of the corporate and financial infomiation #icluding on the charitable company's websrte. Legislathjn in the United Kingdom goveming the preparab'on and dsseminatK)n of ffinancial statements may differ from legislation in other jurisdictions. The Trustees confim that so far as tfw are tY£re is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) ofwhich the charttabte company's auditors are unaware. They have taken all the steps that they ought to have taken as Truslees to make themselves avRre of any relevant audit information and to estsblish that the charilable company'5 auditors are aware of that infom)alion. The Trustees continue to carry out the Federations, aims for the public benefft within the definition of the charity's objects and the Charity Commission's gUIda￿e on charity Trustee5' public benefft dutie5. As illustrated by this Report. the Trustees have complied with their duty to have due regard to the gUIdan￿ on p￿11¢ benefft publistRd by the Charity Cornmission in exercasing their powers or duties. Actlvltles, Alms and Stratsgy A fijll strategy review was corryAeted in 2013. The Council revie￿ and knther develops ihis, as appropriate, annually. Specific objectives are set ar#J awewj by the Trustees. prior to the start of each year. Progress with these objectives and knith other activibes d05ety monitored as the year progresses, both at rnnthly staff meetings and by the Trustees at their meetings. In 2018 council rewewed three core areas of the tharivs a¢bvities: Web development and profibe; PR & Cornm51meTfbbership; and Science. The ￿search priortlies of the charity's scientific fvnding programme were reviewed in 2019. An intsrim strategy was adopted in February 2021 ahead of a more comprehensive review. UFAWS activibes are (M￿lned each year in Ihe rewt 'Science in the Sw¥ice of Animal Weware, which is d'stribLrted to all rnembers. A few of the chariws major initiatives are listed below. The emphasis of UFAWS work is encouraging and promoting a sc￿rtifiC approach to aninal welfare (to determine animals, needs and how these can be met) arKI education aboui animal welfare and animal welfare science. part￿￿arfY attheI￿ti￿Ievel. student Scholarshlps The UFAW Arwmal Welfare Student Scholarship {AWSS) programme provides opportunities fof undergraduates to develop their interests in animal welfare by undertakir4J a short research project. The scheme provides support for the students. living expenses for up to 8 weeks and a small arno￿1 offunds for costs assoriated vath the research propct

This year UFAW funded 9 students. InC￿r￿j 6 overseas students, and one student working acro& borders. sin￿ their inception in 1983. these Scholar5hits have acied as the first stepping-stone to career of working to improve the lives of anwnals for many people. To support ow student scholars and to ty to ameliorate the challenges they faced this year in collecting data and carrying out their projects in an ￿VIrOnMent of Cov1￿19 restrictions we extended the time that they had to hand in the reports of their projects to U5. This in tum meant that we delayed. until late February 2021. the annual meeting (held online this year). in which the scholars present the findirvJs of their studies. This year Rosa Sthirnrnel of Utrecht UnNerty was awarded the Fami Anwnal Care Trust's UFAW Ruth Harrison Scholarship for her project Earfy Life Internent￿lS to impmve lawng hens. weMaTr.' inyt Of1￿ht du17ng Incubal￿n andgenelr bMund{￿ stfftss fftsponsivity oflawng hens Support for Anlmal Welfare Research and other Activlt*8 through Grants The UFAW Anlmal Welfare Rèsearch Tralnlng Scholarship scheme was established in 1998 as part of the charity's efforts lo encourage high calibre science leading to substantial advances in animal welfare. These stholaT5hips enatrAe promising young graduates to urKlertake research programrnes leading to doctoral degrees. The 2016 UFAW Animal Welfare Research Training Stholarship was awarded to Elena Arnistrong of Newcastle University, for a project entitled 'D8V8loping lrfetime animal we￿a￿ assessm￿1 tools using novel physiological measu￿5 of cumulafiv8 chmnic stless.. The total awar(I vms £99,964. Elena finished her experimental work and wrote up her thesis in 2020. and then successfully defended her thesis viva early 2021. leading to the award of her PhD. Additionally. has published several papers on her work and gbven various oral presentations <￿)CIUding at the last UFAW Recent Advances Vll online COnferer￿ in 2020). The Anlmal Welfare Research Award 2019 received 38 wncept note5 and 4 full applications. An award was made lo Professor Innes Cuthill at the Unive￿ty of Bristol and colleagues at the Unriersity of Guelph, Canada and Utrecht. The Netherfands. 'Is Ilighl important to the w8Marn of Captive birds?, The value of the grant was £45,751. The project is progressing well, and, despite the coronavirus pandemic, Professor Cuthill rep￿ that valuabk surrfey data is being accumulated ahead of the start of its anatysis. It is expected that the resu￿5 will be ready May 2022 (project extended due to student going on matemity leave). The investigators hope to understsnd whether there is a correlation between welfare problems such as slereotypies or feather plucking and the flight4lependence of various species. In addltlon, varlous grants and avmnls have been given durlng the year. Includlng: £508.22 to Dr Henri BertrarKJ (UnNersity of cambr￿e>, to support a project entrued: 'Refinement olmouse injectable eulhanasia,. £2.500 lo Nichola Clear (Comwall Wildlrfe Trust and Universty of Exeter), to SUPFQrt a project on 'Bycatch Evidence Evaluat￿ Pn)tocol- Can cthzen scientists effectwaly monitorbycatch in dead stranded small cetaceans? £8,646.66 to Dr Sandra Baker (WAdlife Conservation Research Uni( Oxtord University), to support a project to assess the animal y￿lfare impacts of key rat management methods and to host a stakeholder workshop to determine consensus s￿reS for the relative v￿lfare impact of eaGh management method.. and to rank the methods by welfare impact for use in decision- making. £5.000 to Dr Lisa Yon (Universty of Nottingham. School of Veterinary Medicine & Science), to support the development of a new eviden￿ base to imwove elephant welfare in the UK and worldwide usiw an online app version of the Elephant Behavioural Welfare Assessment Tool.

£3.255.34 to Dr Vikki Neville {Bn'stol Vetefinary School), to fvnd a project entitl8d'Refining the housing and husbandry of laboratory rnts.. a systematic rewe￿. £1.782.08 to Dr Adam Powell (Marne Enwronmental Research Laboratory, Institute of Aquaculture, Argyll). to support a research project entiued: 'Opbini&ng handling in salmoo aquacultufft.. nKsh effect on cryptr lesws and hygiene. We are delighted to be continuing trj furKJ the work of Ga￿ Wldlife Health {GV4Tr1). which is a joint project, led by the Institute ofzoology that exparKls the work of the UFAW initiated Garden Bird Heatth InitiatNe. We have been 5UPPOrting this project annually since 2013. and this year we pledged a further £15,000 lo be paid over the nexl 3 years. The project aims to UnderStar￿ more about the diseases that threaten the health. welfare, and conservalion of British wildlife. UFAW also continued to SUPPOrt the UK Animal Welfare Research Network (Al4llRN). a BBSRC funded UK initiative, with a grant of £16,978 awarded in 2018 spread over three years. The AWRN aims to brirwJ together the UK animal welfare research communty, researchers in related areas. and stakeholders with interests in animal welfare. UFAW aThJ AWRN are look￿9 at ways in which to continue wth Iheir collaboratron. Overseas awa￿$ have included granls to le￿pIents in Australia, China. and the USA. £3,400 to Professor Ral Freire (Insliiute for Land Vlater and Society, Charfes Sturt University, Albury, Australia). to support the devebprnent of a tool to assess wild penguin weSfare. £1.2601o Dr Sara Platto (Colkge ofLife Science. Jianghan University. China), to run a webinar on 'Challeng8s ofanimal prt)lection and ￿1[8￿ in the context of COVILL19 pandemic,. £3,179 to Dr Courtney Diagle (Texas A&M AgriLife Research. USA). to support a research project entiued: 'Using oanine olfaction to detect tr)￿ne ￿spiratOry disease,. The UFAWISAWI Fund was establK￿ed in 21J)3104 from funds transferred from the charity the Society for Animal Welfare in Israel (SAIM) with which UFAW has had a long association. Funds in this account are used to promote animal welfare improvernents in Israel in accordance with the obj'ects of the fomier charity SAV41. In 2019 we put out a call out for applications for a Research Training Scholarship up to a v￿ue of £150,(hXI lo begin in 2020. Unfortunately. we were not able to offer a grant to applicants and are now looking at altemative ways in which we can support and prornote scientific and educational initiatives for the advancement of anirnal welfare in Israel. We did not receive any aFWicattons Ihrough our small woiect award for animal vRlfare in Israel. Awards As part of its endeavours to support the advancement of animal y￿fare Ihrough high qualty science. UFAW njns an award scheme. the UFAW Medal for Outstanding Contributions to Animal Welfare Saen￿, to recognise the exceptional achievernents of an individual scientist who has made a major contribution to the advan￿rnent of animal welfare. We were delighted to award Professor Daniel Weary the UFAW Medal for2020. Dan is Industrial Research Chair in Dairy Cattle Welfare in the Faculty of Land and Food Systerns and the Universty of Brit15h CDkJmbia. In a areer spanning more than 30 years so far. he ha5 rnade major contributions to understand and improving the welfare of anim&s includirvJ dairy cattle and laboratory rodents. using non-invasive methods to study thety bthaviour and rnotNations. The Young Animal Welfare Scientist of the Year Award is aimed at earty career researchers from anywhere in the world, who are currenuy studying for a doctoral degree and to posl-doctoral scientists who are within six year5 of completing ther PhD work. Dr Irene Camerlink, Assistant Professor at the Department of Animal Behaviour. Instiiute of Genetics and Animal Biotechnology, Polish Academy of Sciences, was awarded the 2020 UFAW Young Animal Welfare Scientist of the year. Dr Camerlink's work to improve the welfare of pigs has been exceptional. In 2020 it was decided that future awards will be enlilled the UFAW Eaty-CareeT Animal Welfare Researcher of

the Year award to allow forthe possibilty of acknowledging thosetho have begun a career in animal welfare science later in life. Student Mentorlng One way in which UFAWsupports Ihe intemational develOFXn￿t of animal welfare science is through supporting the nexi generation of animal welfare Sc￿tists. However. studentship applications submitted from universities or countrtes that have limited animal v￿lfare science capacty do not always have the scientific rigour required for UFAW to support them (as much as we would like to). To address this hurdle. 'UFAW MentOTS' {typicalty postdoctoral scientists in centres of excellence in animal welfare scler￿e) have been paired with'student Mentees,. In our first pilot year V￿ facilitated two mentoring partnerships.. Dr Nienke Van Staaveren frorn UnNer&ty of Guelph, Canada (Mentor) with Alex Kyabarongo from Makerere University. Uganda (Student).. and Dr Mona Giersberg from Utrecht Universty, The Netherlands (Mentor) with Victor Oyeniran frorn the Federal University of Agriculture Abeokuta, Nigeria (Student). The scheme benefits the rrentee by linking them with a skilled advisor who can guide them through the design of a highqualty research project and offers beneffts to the mentor in providing them with experience of St￿Jent supeNision and mentoring. Throughout the process we have been very irnpressed with how our two pllot pairings have worked together and, ultimately, that both partnerships vMe successfijl in Submitting a reseaTch application which received funding. We intend lo expand Ihe scheme in 2021-22. Mentors r￿1Ved £500 recornpense for their lime and guidance. The UFAW Journal~ Animal Welfare The peer-reviewed Scienti￿ joumal Animal Weffare is published quarterty. The iournal is published in-house by our editorial staff. This year vle published 36 peer-reviewed scientific papers in four issues of the joumal, alongside book review5. letter5 to the edilor and reports on topical animal welfare publications. The ioumal's impact factor (a measure of the influence of the journal derived from the number of times papers are referred to in other papers) reached its highest ever level of 2041 in 2019. Scientlfic Meelings UFAW organises a range of scientific meetings to disseminate the latest animal welfare science to Interested audiences. It was our intention to hotd the 7th of our serie5 of one day conlerences Recent Advances in Animal Welfare Science al the University of Birmingham on the 1 Juty 2020. Nfithen it became clear that this was not going to be possible because ofCOVID-19 we decTrded lo transition the physical conference to a virtual one. It was also decided because of the logistics of running the conference online that we would run this over 2 days and as a free evenL This virtual plaffomy PToved very popular wilh over 1000 registering to watch the INe event from 47 countrie5. and over 700 registered lo watch the recording following the event. This represents a significant increase on the number of people who typically attend a fa￿t0•fa￿ event and we are particularly pleased al the number of attendees from outside the UK. Whilst there was n0 ¢05t to register for the conference, we did ask those doing so to consider donating lo help with costs. We received £3493 in donations, for which we are v grateful. In November 2020, in conjunction with the Humane Slaughter Association and the Swiss Federal Food Safety and Veterinary Office (FSVO) we organised a hvo-day seminar on Humanely Ending the Lrfe of Animals which discussed recent advances in methods for the euthanasia or slaughter of farm and laboratory anima15. Over 600 peo￿ registered to attend this meeting. Registration was free and UFAWS costs for organising the neting covered by the FSVO.

In October 2020 we hosted our annual R0d￿t and Rabbit Welfare rneeting jointly with the RSPCA Animals in Science Departsnent. The meeting was held online and attracted almost 7IX) registrations. The meeting was also free to attend arKI attracted £713 in donations staff In September 2020 we were delighted to be joird by Dr Birte Niefsen as our new Assistant Scientific Director. It has been a strange start for Birte, as she has spent most of her first 9 months working from home. with rK) face-ttrface contacts wtth her new colleagues. ID March 2020. in compliance with government guideline5 V￿ closed the office and staff worked from home. One member of staff requested to be put on fvrlough. and thatwas only on a short-term basi%. We conlinued regular 'coffee breaks" in our new virtual workl. which kept us all feeling connected. The delivery ofthe charity objective5 deperK15 on ourtalented ar#J motNated staff. We are extremely grateful to the staff for continuing to work tirelessty for the charity in difficult Cifcumstances. We value diversity and are committed to equalty of opportunilies. We understand the value of an inclusive approach and recognize the irw)act Ihat dtfferenl perspectives bring to the work we do. Financlal Ovefvlew 5taternent The total annual income for 2020r21 Yras £426.985. a decrease of £79,484 on the 2019120 year. 1£506.469). Income from subscriptions. appeals and donations at £26.297 was a decrease of £52,519 on 2019120, (£78.816). In Ihe year 2019120 V￿ received one generous donation instead of a legacy bequest. Legacy income for the year was low for the third year Tunnru. Legacy Income for 2020121 was £94,229, coff4)ared to £67,491 in the 2019r20 year, this being an increase of £26,738. Lega income continues to be unpredictable and has been identified as a risk Publications income at £91,841 wa5 down by £1.114 on 2019r20. (£92.955). Inve5trnent income at £184,924 in 2020121 has decreased from £217.189 in 2019120. This £32.264 decrease in investrnent income can be attributed to the impact of the Cov1￿19 pandemio, we predicted that incorne from investment5 will not rise substantially in the 202112022 financial year. The income frorn the 241ay syrry)0￿ lbJ in Brw in 201V20was £41,117. The 2019r20 vithal tsv day Conferen￿ was fr￿ to atter#Y tKrt attracied donath)ns of £3.493. The ccfilinuing COVIt>19 resknctton5 have led u5 to hcJ arth virtual conference n Ihe 202112022 fmancial year.11 is hoO that by the summer of2022 we wll te ab￿ lo h(￿d a hytshj event Edyiburgh t￿1 with an online corrponent to M3￿Mise access for those unable lo attend in person. In line with accounting requyements, we revakE our irwestments at each year end. Realised inve5trnents showed a gain of £98.588 a decrease on the previous year {2019120 £198,628). The unrealised market value of the Invest￿￿nI portFo&o showed a gain of £1.427.666, (2019120 showed loss of £1,154,943). The chaiity recognises that this is just a snapshot of our investment at a point in time. it is highly dependent on the markets are at that moment. Movements. such as the those experien¢e(I this year and last, slKJukl not be expected as standard. Our investment performance is considered over a longer period. The net operational105s was £139,324 for the year. (2019120 saw a loss of £227,863). To ensure the planned work ofthe chanty coukj continue the cowKil instructed our irwestnRnt managers Smith & Williamson to realise some wivestmts to prov￿ an additional £200,000 in fvnds, 12019120 £150,000)

The overall expenditure during the 2020r21 year wa5 £566,308, a decrease on the previous year {£734.332) of£168.024. The decrease ha5 been due to some activtlie5 being carKelled or switched to virtual events. The costs of runn￿￿ the Intemational Symposium in July 2019. contributed to the 201912020 charita￿e activities. We had one scientific staff vacwcy for 6 M(￿thS of the year, which contrbjted to a reduction in staffing costs. UFAWS actlviknes have aknys been heawty dependert on legxy and other furKling from its supporters. and the chartty 15 most grateful to them for their generosty. Investment Policy and Returns In accordance with the Memorandum ofASSL¥iakn￿. Coun(a have the p(Ywer to invest in such stocks, shares. inveslments and propety as they see ffiL Council engages Smith & Williamson Investment Managers to manage the investment portfolio. The policy is to pursue a medium risk investment strategy based on maximising income ￿￿thOUt detrynenl to ￿Qwth in investrnents. and without incurring unnecessary risk. During the 2020r2021 year, £173,350 of the charitls totsl unrestricted income was generated froffl nvestments managed by our investment managers. In the preceding year, the incomevRs £192,535. The (trop in ￿vestment incomebvas due to the global impact COVI[ 19 had on the economy. Ethlcal Investment Pollcy The Trustees peritrjically review the policy regard￿ ethical aspects of investments. The policy ' not to invest in companies whose activities are in conflict wth the obj.ects of the Charitie5. This is monitored as closety as possibte. and details of al hoklings managed by the Charities, stockbrokers are circulated at each Trustees, meeting. Additional￿, at each meeting new investments are listed with a brief de$￿IptiOn of the organisation. Rlsk Management The Trustees are committed to effective risk management as an integral part of ensuring good governan￿ and to enable the charity to identify, revivw and rnanage uncertainty and major threats in a systematic effeclive and efficient way. The structure ofthe charit￿$ risk document is in line wilh the Charity Commission's document 'Charities arKI Risk Management,. The Chief Execuiive, with Ihe support ofthe Senior Management Team, moritors exlemal developments that May impact upon the organi5ation, and reviews any necessary changes to the risk document at regular meetings. The Trustees considers the risk d(￿rnent al each of their meetings. The charity has idenlified 4 key risk areas: competitionl loss of profile and supporL lUndr￿SIng protdems. unhealthy dependence on particular income sources. insuffiiient income leading to erosion of reserves. These and other ident5fied risks are detailed in the rtsk register, which scores risks according to the impact and likdihood of the risk and describes plans and controls that are in place to mitigate risks. With respect to the ri8ks identifEd above, the chanty has a fundraising Strategy and aGlion-plan. The Charty is highly dependent on legacie5, bui strives lo maintain drier5ity in income streams. and reseNes are maintsined to provide a buffer against short and I(￿ger- term fluctuations. The impact of the COVID-19 pandemic has been closely monitored by the Senior Management Team (SMT) and Trustees since February 2020. The entire risk register was reviewed in light ofthe impact of the pandemic in 2020 and a(klitional mitigations put in place where necessary. The pandemic has impacted ihe charity in many of our key risk areas and the risk register has been reviewed and updated consKleriNJ this and any fijiure resurg￿￿. Key impacts of the pandern￿ have Inc&￿Ied or may inclLKle in future: 10

Reduced investment income (due to feductions in share value5 and10ss ofdriidend income). RedU￿d legacy incorne (due to reductions in legacy value as a result of reduced investment pjrtfolio values). RedU￿d voluntary income due to reductions in disposable incomes. Competition for funding from charities which directy address the pandemic. Reduced capacity to undertake key activit￿S such as holding face-to face meetings and conferences. Currenlty funded research projects have been subject io delays due to restricted access to research fac￿lIES etc. All major grant recI￿nts have been contacled and nrCOSt extensions reed where necessary. Staff continue to monitor impacts on UFAW-funded research. Mityations SMT are reviewing the fundraising Strategy and actively investigating ways to diversrfy and inuease income. Investment managers have adjusted investments to minimise the impact of the paTrJemic on ¥IVestrn￿t reium5. The charities have rapidly adapted to working from home. Systems to allow efficient horneworking have b￿n PLrt in place. Many activilies which wouhj have previously taken place fa￿10-face have been successfully srytched to onlwie events. The reseNes policy has been revith¥ed in4vJht of the pandemic. The Chartty has substantial reserves and continue5 to ￿maIn solvent. Funds will be drawn down as required to maintain our core activities. AJI creditors will be paid In a timely manner. The lon￿te￿i reserves policy 11 be revIev￿1 n the near future to better rellect our k)nterni stratew. Grant Maklng Pollcy The Federation ma(e5 awards to support research. educatwjnal aThJ other projects in pursuil of its objectives. Applications are judged in relation to their benefft for animal welfare, value for money, Impacvrnerits and also in relation to other applcations received n the same time frame. Special awards, eg Researth Training Scholarships other research awards and animal welfare awards are adverbsed appropriatdy when they become availabbe. AppI￿a￿onS for project and several other kinds of awards are made using Spec5[￿ application foms and are judged by the Grant Panel or by staff given aLrthority to do so. The Pr￿e$S of w(Fcts whose duraiion exceed a year 15 monitored through annual reports. It is our policy that all grants should te recognised as credttors as soon as they are agreed and communicated to the grantee. irrespective of the period over which they are payable. Grant commitments made today may not be comptel satisfied al payments have been rnade. Therefore. cash payments m n any one year couhj inckKle amounts relating to grants awarded in prior years. Our cash and investment p￿]10 is held to help the charity meet those longer-terni obligions. Tanglble Flxed Assets A valuation ofThe Old School, IA+heathampst&2d, was urthrtaken in 2019. Thi5 buihthng is owned jointly with the Humane Slaughter Association. UFAWS share of the wemises was valL￿d at £413,333 at 14 A￿ust 2019. Trustse Indu¢tlon The Trustee induction covers the history of the charity, its objects and con5titutKJn. govemance and management. ownership of the premises. membership. financial positson and arrangpmnty ￿rrent tivibesand Twstees. roles respcwbthtE5. Thi5 is offered to all new Trustees. Reserves The reseNes policy is monitored and revivlved each year as part of the process of planning the budget for the forthcomiThJ financial year. planning and b￿eting for its activities The Universities Federation for Animal Vleffare considws the level of reserves held, to strike a balan

belween the contyiuirrg development of our seThices. and the need for pnKlent marwment of our working assets, commitments and WOVKling for contirvJencies. Over the last 5 years of the charity's income has come from legacies and 35% from investment income. The remainder is made up of donations a￿1 sutscriptions 120h. arKI Charitable activities 230h. Legacies are inherenty diffi￿lt to forecast arKI have the tendency to be volati￿. The charity's relian￿ on legacies has teen Klentified as a risk. Legacy income for 2021 has increased from the previous 3 years Lwt is significantly less than that received in 2017. W8 feel that current level of legacy income is an emerging trend. The average annual core costs overlhe last 5 years have been £621,536. The aim is to hold resepies sufficient to generate ￿Vestrnent income of behveen 50% aTrJ 75% of the annual core cost5. 5UStaining key [￿ctionS and activities. induding the f￿KlIng of long-tern pn)jects. The charity'5 unrestricted reserves (the value after deducting fixed assets restricled [￿d5) at the end of 2020121 are £7.5m. (2019120: £6.4m). Based on a reduced foretasted reium on investment of 2VD. to meet the 50-75% tsrget the reserves would need to be belween £15.5 mill'on ar¥J £23.3 millwjn. The strategy is to build up resetves gradually by pnthit investrnent practice5. careful plannirwJ, and tight financial control. The Trustees recognise the need to: Retwn and increase membership. Improve communication with our membershlp and new audiences. Generate income from charitable activities. Identify and develop partnetships wikh furKlevs, charities and tnjsts to develop new opportunilies. Develop the strength and reputation ofthe jwmal. Investigate new publishirvJ opportunities. Financial Planning Budgets are set each year, considering income recwed in Ihe FKevious year. estimated income in the forthcoming year, and the demands of ujrrent and planned wogramrnes of work. As far as Possible, we strive to conlinue to expand the charity's actsvii*s whilsi ensuring that suffiaent reserves will be held in the future. The Senior Managernent Team monitor income and expendthre monlhty and prepare reports for the Financial Panel and Couniil throughoul the year. The net cost of the activities planned by the Federalion for the financial year 2021122 is estimaled at £879.213 {with £150.000 oftr#s being in debignated lunds on the balance sheel). The total income fDr the year 2021r2022 ha5 been estirnated at £477.778 and tru5 includes a projected legacy income of £280,106 based on a rolling ten-year profile of legacy income). Investment Income of £147,000 based on the projected Yo relum on 1 De￿rnber 2020. The deficit of£401,435 was agreed to enable the planned programme of work to be executed. If required funds VAII be aojed frcrfn investments to ensure charitable activities are not compromised. Fundraising Statement UFAW raises funds to support its charitable aims ty. seeking legacies. donations and appeals through adVe￿seMents, press releases and publicity: and by applications to trust5. The charity Is regulated by the Charity Commission and UK law. UFAW is a member of the Institute of Fundraising and follows the Code of Fundraising Practice. which he￿ to ensure that organisations raising money for charity frorn tt)e public. do so honestly and properfy. 12

UFAW does not use a professional fvrKlraiser or have any conwcial pathets and does not use telephone marketing. UFAW respects the privacy and conL3ct pref&ences of all donors. The chaiity does not pass any inforrnalion it receives to third parties. Complalnts Policy UFAW aims to resporKI prompuy to reql￿ to cease contact or to wmplaints aThJ will act as best we can to address their causes. UFAW has r￿t recetved any c•)mplaints in this year. Remuneratlon Pollcy The Charity is committed to ensuring Ihat staff are paid fairly and in a way which ensures the charity allracts and retwns the right skills to have the greatest impact in delivering our charitable objectDies. The remuneration corrffiittee for the charity 15 the Finance Panel. thich meets annually. in a closed session. The Chief Executive attends the meetiro to discuss staff salarEs. The Chief Executive 15 not present when the committee discusses the Chief Executive's salary. The main responsibilities ofthe RernUnerati￿ Committee are to: Review the salary ofall staff against the Universities and Colleges Employers Association IUCEA) pay scales, an independent bench marking tool. Approve cost of incremenls based on those agreed by the UCEA", Approve any consolidated pay awards and staff salary increases ￿tSide of the annual review process; Approve any non-consolidated pay award5 (bonus): arKI to determine pension arrangements. No merrthr of stsff was paid more than £60.(KIO in Ihis f￿anCIal year 2020121. No Tfustee received remuneration. Concluslon In conC￿S1on, Council is satisfied that the finanaal positson of the Federation is sound And adequate resources exist to enable the *nned programme of work to be u￿lertaken Apwoved by the Council a￿1 signed on their behalf ty. A G Slmmons BVMS Msc MRCVS Chalmian of Coun¢ll 21 Juty 2021 13

Independent audltor5 report to the Councll of the Universities Federatlon for Anlrnal Welfare IA Company Limited by Guarantee) For the Year endlng 31 March 2021 Oplnlon We have audited Ihe financial statements of Uni¥pJsil￿s Federatiw of Animal Welfare {the 'charriy') for the year ended 31 March 2021 vthich comprise the statement of financial activfaes, the balance sheet, Ihe statement of cash flows and the notes to the financial staternents, including a sumrnary of significant accounting policies. The financial reFQrting framework that has been applied in their preparation is applicable law and United lfjngdom Acc(MJntirs Standarts, including Financial Reporting Standard 102 The FK)ancial Reporting StarKlard applicatle in the UK and Republic of Ireland (United Kyigdom Generally Accepted Accounting Practice). In our opinion, the financial statements". give a true arKI fa'r view ofthe state olthe charitable c(Xryan￿S affairs as at 31 March 2021 and of its incoming resources and ap￿catiOn of resources. for the year then ended., have been woperty prepared in aC¢Ndan￿ vdth United Kingdom Generally Accepted Accounting practi￿,. and have been prepared in accordance with the requrements of the Companies Act 20c￿. Basis for opinlon We conducted our audit in accordance Y￿1h Intemational Standards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in Ihe Auditorfs responsibilities for the aLNJit of the finanaal sLitements section of (Mjr rewL We are independent of the charity in accordance with the ethical requrements that are relevant to (￿r audit of the acGount5 in the UK. induding the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requrements. We believe that the audit evidence VR have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern We have nothirvJ to report in respect ofthe f011ry￿1n9 matters in relation to vthich the ISAS (UK) require us to Teport to you where: the trustees. use ofthe goirvj concem basis of accounting in the preparation ofthe finanlial statements is not appropriate: or the trustees have not thsclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's abilty to continue to adopt the going concem ba￿S of acC￿￿tir0 for a period of al least tsyelve rnonths from the dale when the financial statefflents are aulhorised f(K issue. Other Infomiatlon The trustees are responslble forthe other ￿forMatiOn. The other infomation comprises the information included in the annual report other than the financial statements and our audf(orfs report thereon. Our opinion on the finanaal statements dces noi cover the other information and we do not express any form of assurance conctsion thereon. In connection with our audit of the financial statements. our responsibilty is to the other information arKI, in doing so. con5KJer whelher Ihe other information is materially inconsistent the 14

financial ststements or our knowledge obtsined in the audit or olherwtse appears to be materially misststed. If we identify such material incon5i5tencies or apparent rnaterial misstatements, we are required to determine whetherthere is a material rni5Statement in the thancial statements or a material misstatement of the other information. If, based on the work we have perfomed, we conclude that there is a material misststement of this other information. we are required to report that faci. We have nothing to report in this Tegard. Mattern on whkh we are requlred to report by excepuon We have nothrbg to report in respect ofthe following rnatters in relation to which the Charities (Accounts and Reports) Regulations 2008 requi￿ us to report to you rf, opinion: the infomation given in the financial statemenis is inconsistent in any fflaterial respect ￿th the trustees. report OT sufficient accounting rec(Yds have not been keptr, or the financial statements are not in agreenEnt with the accountwy records,. or we have not received all the information and explanations we require for our audit. Responslbllltl8s of trustees As explained more fully in the Stalen￿￿t of trustees, reSpOn￿1)i11t1e5. Ihe trustees, who are also the dyectcrfs of the charity for the purpose of company law, are responsible for the preparalion of the financial statements and for being satisfted that they gNe a and fair view, and for such intemal control as the trustees deterniin is necessary to enable the Frfeparation of financial statements that are free from material misstatsment, vthether due to fraud or error. In preparirNJ the fr￿nCial statements. Ihe Irusiees are responsible for assessing the charity's abilrty to continue as a going concem. disclosng, as applicable, maiters ￿lated to go￿9 concem and using the going concem basis of accountirKJ unless the trustees either interKI to Iquidale the charitable company or lo cease operats'ons. or have no realistic aftemative bul lo (lo so. Audltorfs responslbiltties for the audit of the financlal statements We have been appointed as auditor under seclion 144 of the Charilie5 Act 2011 and report in accordance wth the Act and re￿ant reguktions made or havirKJ effect thereunder. Our objectives are to obtain reasonable assuran￿ about whellw the finanaal statements as a whole are free from material misstalement. whether due to fraud or wror, and to issue an auditofs report Ihat includes our opinion. Reasonable assurance is a tt￿h level of assLwance but is nol a guarantee that an audit conducted in accordance with ISAS (UK) a￿ayS ￿tect a material misstatemenl when it exists. Misstatements can arise from fraud or error and are considered malerial if. indr4idually or in the aggregate, they could rea50natAy be expeded to influence the economiG deGisions of users taken on the basis of these financial statements. ITregularities, including fraud. are Instan￿ of nonThcompliance with laws and regulations. We des*]n procedures in line with our resFonsibilities, ouUined above. to detect material mwlatements in respect of irregularities, including fraud. The extent to which our woceduTes are capable of detectirvJ irwularities, including fraud. 15 detailed below. A further description of our responsibilities for Ihe a￿j11 of the financlal statements ts IDcated on the Financial Reporting Counol's website atr. httP:IlvnAv.frc.org.uklaudttorsre5ponsibilities. This description fomis part Df our auditorfs report

Irregularitles including Fraud Based on our understanding of the charity and the iThJustry in which it cperates, we identffied that the incipal risks of non-complian￿ with laws and regulations related to the acts by the charity, which y￿re contrary io applicable laws and regulations including fra￿. and we considered the extent to vthich non-compliance might have a rnaterial effect on the financial statements. We also considered those laws and regulations that have a direct impact on the weparation of the financial statements such as the Charities Act 2011. We evabjated management's In￿ntiveS and opportunities for fraudulent manipulation ofthe financial ststements lYKluding Ihe risk of override of controls). and deiemined that the principal risks were related to inflated revenue recognitson and net income for the year. Audit procedure5 perforrned included: review of ts financial statement disdosuTe5 to underlying supporting docurnentation, review of correspOnder￿e with and reports to the regulators, enquiries of management, and tesb'ng of joumals and evaluating vthether there evidence of bias by the Trustees that represented a risk of material misstslement due to fraud. There we inherent limbtstions in the audit Fxowlwes desu1b￿l above and the further removed no compliance with law5 and regulations is from the events and transa¢tions refiected in the financial statements, the less likely would become aware of iL Also, the risk of rKJt detecting a material misstatement due to fraud is hvjher than the risk of not detecting one res￿ing from error. as fraud may involve deliberate concealment by. for example. forgery or intentional nknpresentstions. or through collusion. Use of our Report This report is made solely to the charity'5 trustees. as a body. in accordance wtth part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. Our aLKlit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fvllest extent pemiitted by law. we do rK*t accept or assume responsibility to anyone other than the charity arKI the charity's Intstees as a body, for our audil work, for this report. Cf for the opinions we have fom)ed. 30 September 2021 Shona Munday FCA (Senror Ststulory Al￿110r> for and on behalf of UHY Hacker YoLmg (East) Limited Chartered Accountants Slatulory Audiior PO Box 501 The Nexus Building BToadway Letchworth Garden Clty Herts SG6 9BL UHY Hacker Young (East) Limited is elwJ1b￿ for appointment as auditor of the tharity by virtue of its eligibility for appointment as auditor of a company undeT Secti￿ 1212 of the Companies Act 2CIJ6.

THE UMIVERSMES FEOERATION FOR ANIIAAL WELFARE (A COMPANY UMITED BY GLIARANTEEI Reglstered In England Cl• No 207996 STATEMENT OF FIW4CIAL ACTMTIES F(XI THE YEAR £NDED 31 2021 T•tsl F¥r• TotslFwdB1021 213 25 167 76 641 2175 87 491 14$.> 1.13U 1ZO.S95 91.U1 g1.B41 2526J gZ955 173) 419) 168 14Z97J 121.4fj5 IZl.455 19325 151.015 1n.39J 463 19.7 1fj$136 lJ4.514 4.070 ZlJ.119 217.IB9 11.574 41 11 4Z CMt5 cIGenerJtrJ Fthji *•iJ 7492 J) 431.451 191.393 167.77J 4•4ZI I s$,ooo 19E. 7E614 21.574 N•tunr￿Nlld ¢>h)￿L£￿&s1c￿ klwk•iv4knr lJ14.744 a2.J22 1.427.085 1.ISI.$4J I N•tllo¥qffl•ffltofPuTh 1￿￿930 7.33&11¢ 42.7fjZ 4g&J56 46T.256 BMlwmC•rwlHI Fvww•w 17

THE UNIVERSITIES FEDERATION FOR ANIPIAL WELFARE BALANCE SHEET as at 31 March 2021 2021 Flx•d Ass•ts Tangibb Fixod Assets Invg$tments 406.850 8.042.533 8.449.383 414,760 6.737.357 7.152.117 DebtOW5 MOMY Markel & Deposll A¢Co￿ts Cash at Bank and in 37.¢X6 308.952 22.277 36,104 233,868 42.772 36B.295 312.744 Currènt Llabllltl•s CreditOts' knounts Fallvj Ckne Ye 74 N•t CurrnntA¥¥•ts 186.CK11 Total Agsats 1•88 Curr•nt Uablllti 730.048 7,338.118 Credrtrys. FaknJ LkE ¥fter 14knt th•n 0￿ Year N8t A•s•ts &725.0 7.338.118 Fub￿9 Urwastricted 10 4128.837 596.211 fj,842,762 495.356 Resl 11 8.725.048 7338 118 The financial stst￿ents ￿ pages 18- 20 y￿ra aulhori￿ tor issue ty Ihe COWKI on 21 JLdy 2021 Signed 11 of ihe Counal on 21 21Y21 A G Simmon5 8VTrIS Msc WiCVS Chalrman a/rn C L Mccann 8Sc ACA Hon Tr•a¥urBr rK¥tes on pa9p$ 20 10 27 part of these a¢¢tyJnts

THE UNIVERSITIES FEDERATION FOR ANIMAL WELFARE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 March 2021

Note Net cash inflow/(outflow) from operating activities 16 ( Returns on investments and servicing of finance 17 Capital expenditure and financial investment 17 Increase/(decrease) in cash in the period Reconciliation of net cash flow to movement in net debt 18 Increase/(decrease) in cash in the period Movement in net debt in the period Cash and Cash Equivalents at the start of the Year Cash and Cash Equivalents at the end of the Year	2021 £ 349,891 ) 184,924 219,556 54,588 54,588 54,588 276,641 331,229	2021 £ 349,891 ) 184,924 219,556 54,588 54,588 54,588 276,641 331,229	( ( ( (	2020 £ 446,591 ) 217,189 186,352 43,050 ) 43,050 ) 43,050 ) 319,691 276,641	2020 £ 446,591 ) 217,189 186,352 43,050 ) 43,050 ) 43,050 ) 319,691 276,641
					43,050 ) 43,050 ) 43,050 ) 319,691
					276,641

The notes on pages 20 to 27 form part of these accounts.

THE UNIVERStnES FEDERATION FOR ANIMAL WELFARE NOTES FORMING PART OF THE FINANCIAL STATEMENTS as at 31 March 2021 1) Accountlng Polkle8 a) Basls of Accounting These financial statenpnts have IRen prepared underthe historical cost convention as modified by the revaluation of ￿rtain fixed assets. with the ex￿pb'on of Inve5trT￿t5, vthich are included at market value. The fffiancial statements have been prepared in accordance with the Accounting and Reporting by Charl￿. Statement of Recommended Practi￿ applicable to charities preparing ther accounts ￿ accordan￿ ith the Financial Reporting Standard applicable in the UK and ReputrAic of Ireland (FRS102) (effective 1 January 2015) -1(Charitles SORP IFRS 10211. the financial ReForbrg Standard appI￿able to the UK and Republ￿ of Irela￿1 {FRS1021, and the Companies Act 2006. The Charity meets Ihe definition of a ptbliG benefft entity under FRS102. Assets and liabilitEs are initially ￿cOgnised at histori(21 c05t or tranSact￿n value unless otheThvise staled in the relevant accounting poky r￿S). The financial stalement has been prepared on a going concern basis. sin￿ the pettod end trading corwjtions have been advefsely affected by the coronavwus outbreak and tho subsequent lockdoTr in the UK. HO￿ver, the Tn￿teeS have considered position of the charty in fight of its atxlity lo c(IntYiue to operate through the lockdown period and the financial resources available to it. These factors, together wilh, rf necessary. the avalable support for charities wovided by the govemment in the fomi of delayed payments. grants and loan support. lead the Trustees to bdieve that the chaiity can continue to cary on its operating activitses Suc￿s1u[￿ for the loreseeable. The parbcular a(￿Ount￿￿j policies adopted are described below. b) Company Status The Charity is a company limited ty guarantee. The directots of ttle company are the Council Members named on page 2. In the event of the tharity being wound up, the liabilty in resFect of the gutnntee is limited to £1 of the charity. c) Fund Accounting Funds hdd by the Federation are: un￿St￿¢ted general funds - these are furKls. ￿[ch (xn be used in accordan￿ V￿th the charitable objects at the di5c¥etion of Coun(il. Des￿nated funds- these are frjnds sel aside by ￿n¢11 out of unrestricted general f￿dS for Spe￿fiC future wrpose5 or projects. Restncled funds - these are fvnds that can onty be used for particular restricted pury)Dses within the objects of ttie Federation. Restrictions ￿lSe when speixfied by ￿ donor or when funds are raise(I for wticular restricted purposes. Further exrAanation of the nature arKI purp)se of each furKI is induded in Ihe notes to the accounts. d) Incoming Resour￿$ All incoming resources are accounted for on an a￿rUal basis when the charity is legally entitled to the income and the amLnt can be quantified W￿th reasonable a￿UracY, except those legacies where the final value winot be deterrTMned in advarKe.

e) Resources Expended All expenditure is induded on an accnjals basis aTrJ is recognised when there is a legal or constructive obligation to pay for expenditure. V4fjwe costs cannot be attributable to paitiC￿ar headng5 they have been allocated to activrfaes on a basis consislent wryth use of the resources. Premises overheads have been allocated on a Iloor area basis and other overheads have been allocated on the basis of a head count The charity is not regtstered for VAT and accordingly expendibjre is shown gross of rrecoverable VAT. Fundraising costs are those incurTed in seeking voluntary contrrbutions and do not indude costs of disseminating infonnation in support of the charitable aclivitses. Support costs are those incurred direcuy in support of experKliture on the objects ofthe charity. Management and administration costs are those wKurred in c(mneclion with adnmnistration of the charity and compliance wth constitutional and Statutory requirements. fj Tanglble Flxed Assets and Depreciation Tangible fixed assets cosling more than £500 are Ca￿￿lISed and inthded at cost including any incidental expenses of acquigkncffl. Dep￿ciall0n is provided on all tan￿ble fixed assets at rates calculated to vffite off the cost on a straight-line basis over their expected usefijl economic Ipies as folk)w5'. Freehokl land Freehold buildings Computers & other equi[￿ent over 40 years over 5 years g) Investments Investments are stated at market value atthe balance sheet date. Realised and uryealised gains and losses on investrnents are deali wtth in the Statements of Financial Activities. Investment income plus associated tax recoverable is credited to incorne on an accrual basis. h) Stocks Stocks of publications and other goods are￿itt￿ off at purchase because a high percentage is disposed of at no charge. i} Pen31on Costs UFAW does not operate an occupabonal pension scheme. The Federation contributes 80/0 of pensionable salary to Inland Revenue approved personal pension schemes. From April 2001 the Govemment introduced stskeholder pensions arKI after carefvl consideration UFAW designated Ihe Friends Life Stakehohjer Pension scherne for all future employees from that date. The Federation uses irKJependent financtal advisors to monitor the Stakeholder Pension provider and on their recorrwrEndation and. after consultation Y￿th staff, UFAW replaced Friends Life with Aegon from Decwnber 2012. J) Key Managemenl Personnel The key management personnel of the charty comprise of the Chief Executivelscientific Director, and Charity Secretary. The total amount of employee benefits (including employer pension contributions) received by key managerrtht personnel forlheir seryices to the charity wa5 £103,400 (2019r20. £108,442) k) Forel9n Currencles Transactions in foreign currencies are translated at rates prevailing at the date of transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year-end. 21

l) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayrn￿ts are valued at the amouni prepared net of any trade discounts due. m) Cash at 8ank and In Hand Cash at bank and cash in hand indudes cash and short tem highly IKiuid investments in deposits or similar accounts. n) Creditors and Prov151ons Credttors and provisions are rectynised where the charity has a present obligation resulting from a past event and will probably result in the transfer of funds to Sett￿ the obligation. Creditors and provisions are nO￿nallY recogni￿1 at iheir settlement aniount after allowing for any trade discounts due.

NOTES FORIAING PART OF THE FINANCIAL STATE￿￿T5 FOR THE YEAR ENDED 31 VA•￿ 2021 Re8tslctsd Total Funds Funds 2021 2020 CrAts olGernr•Ung Funds FundraiswvJ & PLthAyCos15 37.en 42.536 80.413 8.503 46,3eo 42.536 8e.916 60,894 42.S94 103.468 8.X13 Chortljblg Ad¥lll•¥ 204,221 4.141 220,822 7,264 1,552 3.012 89.048 28,868 31.334 Uni¥er5ity Lws Early Car••rSc￿IiSt of th• Y•ar UFAW M•dal Rese¥th A3 Antrfial W•We 5tthJwt 5¢holatships PU￿cal￿)ns Fees & Expenses 19.485 20.433 29.637 4.017 2.862 15,( 26.977 20.433 29.637 4,017 2,862 15.OCKJ 1,786 G•nlen Birf Prqect SuppJrt Zoo Outsath Syrw¥a 290 309,586 42.241 431.451 302.fr34 7.492 Oth•r R•8(￿￿¢•$ Exp•nd•d LW and Pffjf•ssonal Fees Audtyl Fee Akniiw51ralNJn Slaff Swies 2.424 2,424 5.700 110,580 39.668 2,870 5,1 107,286 76.723 290 7.124 199.393 110.580 39ffj35 Bad O•lMS 9.432 167.nj 9.432 167.806 33 Slaff Costs S¥•r*s 280.193 Sodal Seath 37.068 31.106 348.367 288.696 37.068 31.1C6 3S6.870 296.387 39.8e5 32.210 368,482 8.503 No employee e•med rhwre £60.fy)O per anNm12020- r41 sC￿n￿riC and EdUca￿Onal n•a•ffl•nt and Admini51ra

IIOTES FORMWG PART OF TrE FINANCIAL STATEMENTS leonfdl FOR THE YEAR ElalED 31 IAarrh 2021 Fffjeh(4J LJ &Jiklrys tu￿9 8 Equipmenl Ttxal Tanglbl• FIX￿ A98•ts Costs or Marketva Al 1 April 2020 PAditv)ns At 31 Mar¢h 2021 Dgpre¢l•tlon AetsJmuLated Dw•oab"on ai 1 2 char￿ for the Y•ar At 31 Marth 2021 413.333 53.872 467.205 413J33 55J94 468.727 47,852 2.543 50,395 52,445 9.432 61,877 N•t Book Valuo at 31 21121 401.852 4,998 406,8SO Net 8ook Value al 31 March 202D 408,740 6.020 414.760 Htorieal FRehdd Buldings Al 01.12.1997 D•wBEiatiun D8preciabDn at 1.4.20 Charge for the year A131321 Hljtorlc N•t Bool¢ Valu• at 31.121 103.833 108.& 171.SOO 2020 ￿v￿lMents Quoted Markel Value at 1 2020 thitions al Cost Less Oisposals at 8ookVJ• 10ou•as•llMcrease in ￿3[￿VI1th Stothbn Nèt unrea￿sEd GaIn￿LOSses} M•wkatV¥h •t 31 M•rch 2021 8.737.357 1,389,185 11.417.224) 194,4501 1.427.666 7.882.067 1,840,829 11.6S9,527 1 1171,C691 1,154.9431 6.737.3S7 UK £ 4.989.678 £ 3.052,855 4.346.087 2.391,270 Hiitorical Cost at 31 Marth 2021 6.088.656 6.117.300 D•bto 2021 2020 Tax Flecovernb Prepayment5 Legaues Other Debior5 1,771 19,71D 1,932 18,D88 15.S85 37.066 16.084 36.104 Credltorn Imounts tallng duq > 2021 2020 TTrdB Crndrtor5 Tax and So¢ial Seojrity CanCel￿d Conf8Trnce knk.ng to be AccrnaL5 57.343 99.179 3,560 23, 126.743 30.287 67.630

The UNPIERSITES FEOEIIATIOII FOR AIIIMAL WELFARE NOTES FOIIMING PART OF THE FWIANCIAL STATEMENTS l¢on¢dl FOR ThE YEAR 31 rch 2021 2021 2020 Cradltors: Fallknu Dtse Aft•r th7n Onvy Tradq Credlorn Within two tofowyew5 5.000 R•a1150d Galns tn th• y&qr Exp8ndliwp In th• y•ar GI[￿L￿$s5 on B¥•rK• In¥tstm•nts 31.321 10 UnTrstrlEtsd Funds 31.320 Ur•strict•d G•n•AI Funds 491612 491.612 $50.JO I 1.344.744 6J41762 ￿￿1$•￿ Exp•Thlllw• In Ih•yMr Unrnal GthflLos%l on Mstmgnts 8alanc• 31.121 11 Reslrthd Fur4ts knrtsbywls 31J20 Inth•y Lryh Br 13.322 Ltyn• Gas¢owJre 141.fjol Tonn Taykjr 29.919 1 161.003 148.711 3,675 4141 7681 455 12.991 10,734 29,Q03 29.n9 17.038 154.592 38.486 21D.014 176.081 596,211 1.214) 1 24. 5.168 5.3%> LFAWISAVa Fur Purpos• Le￿h 8ru•m LDma GaseoiJne Trmnln Taykr PennE Belts UFAWISAWI EncoLvagThrt ofhwne beha¥wrtLV4wts v4Brs•a% OlarwHlw￿3Ie grnnts lo and soEYIE5 PRventw)n. eliniMbon. rnliel and curé ol p•n and lear in an4wIs

NOTES FORIIING PART OFT￿ F4Al4W STATEMENTS le•rtdl FwY)1¥20 £2.2941. 14 UFAW COW￿11 No mernber5 of the UFAW Councl receNtd y rtrwrrab¢m <th¥J the ￿ar 12D19f20, £Nill TMr• w•rn no Imtl ejpenses ￿1Mb￿s￿ ￿ thi5 fmancial yew 1201¥20. £1.219 kj 5fj￿n mertets clUFAW c￿￿￿"d) 15 A•¥￿u•￿e￿ ol Frwhold Propwty The most recen1￿￿8￿ ol UFAWS we Sdwd, W￿￿h￿tea1 01 É413.333 ra5 carrtd Dut by J Bsc FRICS tlyArb of Kwby & tlamoNI. ChawiuEd Swffjots, at cyen mwket ￿ue wilh Vacant p)sses9ion al 14.08 2019 (PthirA￿ vauaiifffjwas earrd 05 12.12 ai a mwk•i ¥•lL* 01£4Tr).OCQI

THE UNIVERSITIES FEDERATION FOR ANIMAL WELFARE NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont'd) FOR THE YEAR ENDED 31 March 2021

Note 16 Reconciliation of the Net (Outgoing)/Incoming Resources to Net Cash Inflow/(Outflow) from Operating Activities)

Activities)
Net incoming/(outgoing) resources Profit on disposal of fixed assets Interest received Depreciation charges Nett Gain on Property Revaluation Unrealised (gains)/losses on investments (Increase)/decrease in debtors (Decrease)/Increase in creditors Net cash inflow/(outflow) from operating activities 17 Returns on investments and servicing of finance Interest received Net cash inflow for returns on investments and servicing of finance Capital expenditure and financial investment Purchase of tangible fixed assets Purchase of fixed asset investments Sale of tangible fixed assets investments Sale of fixed asset investments Net cash (outflow)/inflow for capital expenditure and financial investment 18 Analysis of Changes in Cash and Cash Equivalents As at 1.4.20 £ Net Cash: Cash at bank 276,641 Total 276,641 Analysis of Cash Flows for Headings Netted in the Cash Flow Statement	( ( ( ( (	2021 £ 1,386,930 98,588 ) 184,924 ) 9,432 - 1,427,666 ) 962 ) 34,113 ) 349,891 ) 2021 £ 184,924 184,924 1,522 ) 1,294,735 ) 98,588 1,417,224 219,556 Cash flow £ 54,588 54,588	( ( ( ( (	2020 £ 1,129,178 ) 198,628 ) 217,189 ) 7,124 55,000 ) 1,154,943 1,121 9,785 )
	(		( ( (	446,591 )
	( (			2020 £ 217,189 217,189 2,043 ) 1,669,760 ) 198,628 1,659,527 **186,352 **
				At 31.3.21 £ 331,229 331,229
					331,229

The Universities Federatlon for Anirnal Welfare The Old School. Brewhouse Hill. Wheathampstead. Herts, AL4 8AN Tel: +44{0)1582 831818 Fa*. [phone] Email= ufaw ufaw.or .uk vmw. ufaw.org.uk (Company limited byguarantee No. 579991 Registered in England Charity No. 207996)