**Company registered number: 00335703 Charity registered number: 208530**
# **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS (A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Independent examiner's report**|2|
|**Trustees' report**|3 - 6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 23|
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Trustees**|Crispin Salimbeni M.A. Chairman and Treasurer|
|---|---|
||Dr. John Knight B.Vet.Med. M.R.C.V.S|
||Alison Richards|
||Catherine Pugsley B.A.|
||Dr. Malcolm Holliday Med. Vet. M.R.C.V.S.|
||Susan Tenison-Collins|
||William Richards M.A.|
|**Company registered**
**number**
00335703
**Charity registered**
**number**
208530
**Registered office**
6th Floor
2 London Wall Place
London
EC2Y 5AU
**Company secretary**
Andy Geddes
**Accountants**
MHA
Chartered Accountants
2 London Wall Place
London
EC2Y 5AU
**Bankers**
C. Hoare & Co.
37 Fleet Street
London
EC4P 4DQ
**Solicitors**
A. Lutley
Springfield
Rookery Hill
Ashtead Park
KT21 1HY
**Investment managers**
J.M.Finn & Co
60 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB||
Page 1
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
**(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Independent examiner's report to the Trustees of The Anglo-Italian Society for the Protection of Animals ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 18.07.2024
Rajeev Shaunak FCA
**MHA** 2 London Wall Place London EC2Y 5AU
Page 2
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2023 to 31 December 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted,and the advantage is taken of small company exemptions in the Trustees report.The trustees of the charity are also the directors of the charitable company.
The trustees are detailed on page 1 and were in place throughout the year.The trustee idemnity insurance is in place.
## **Objectives and activities**
## **a. Policies and objectives**
The objective and purpose of the Charity, as per its Memorandum and Articles, and which is unchanged since the last year, relates to the protection, conservation and welfare of animals in Italy.
The Committee confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’.
## **b. Strategies for achieving objectives**
The above objective is achieved by making grants to established organisations in Italy at the discretion of the members of the Executive Committee. Regular visits are made to Italy by the Development Manager to inspect the various projects for which funds have been released and a contemporaneous report is prepared for the Executive Committee. Members of the Executive Committee, as and when deemed necessary, occasionally inspect projects.
## **c. Main activities undertaken to further the Charity's purposes for the public benefit**
The charitable purposes of the Charity are set out in its Memorandum and Articles and are achieved by making grants to established organisations in Italy and are supported by regular visits to inspect the various projects under way.
Page 3
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Achievements and performance**
## **a. Main achievements of the Charity**
During the last year, we have continued to develop our activities in Italy and have been able to support 29 Projects. Our contributions to these Projects have taken the form of grants to fund animal shelters, sterilisation programmes, campaigns against cruelty and the provision of medicines and surgical equipment. Some particular highlights of our funding included supporting the installation of wildlife warning reflectors and “slow down” road signs by the bear project Salviamo L’Orso in Pescara. This will help to mitigate the threat of bears getting killed on the most dangerous stretches of the road. There was also the funding of more artificial nest boxes for Liberi Di Volare in Trieste. These have become increasingly expensive and many have already been installed around city with the help of the Fire Brigade.
In April we sent out our Annual Appeal to members which raised sufficient donations to fund all six issues that we had identified in need of particular support. These included particular support towards food costs for the DINGO cat sanctuary in Venice for their outreach work on the islands of the Venetian lagoon (for example Mazzorbo and Mazzorbetto where there are 700 cats) which are quite difficult to reach using public transport but despite this, the volunteers manage to feed all the cats properly. We made a contribution towards much needed repairs at the Dog shelter in Sassari who care for over 200 dogs. We were delighted to support efforts toward spay and neutering local cat colonies at a new project called AlmaGea, near Taormina in Sicily, Their overall aim is to improve the living conditions of cats and dogs in the rural, mountainous areas near Taormina and Castiglione di Sicilia, a short distance from Mount Etna.
As always, AISPA's veterinary representatives in Italy – Dr Dorothea Friz, Dr Lucia Pinaglia and Dr Maira Sgueglia have been able to offer their advice and support to the Projects throughout the year. We are immensely grateful to them and to all the people who run the animal welfare projects.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Financial review**
The Charity’s financial activities resulted in a deficit of £26,299 (2022: deficit of £302,304).
During the year, grants of £119,317 (2022: £141,089) were paid to organisations to further the objects of the Charity.
The increase in the value of the listed investments, including the profit on disposal of investments was £133,875 (2022: decrease £192,706).
The level of accumulated funds held at the year end was £1,910,342 (2022: £1,936,641).
Page 4
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **c. Reserves policy**
It is the aim of the Charity to expend all of its incoming resources each year on its charitable activities while retaining reserves which have been built up over prior years. The purpose of these reserves is to generate income which forms part of the Charity’s incoming resources and to enable it to continue its charitable support if in any year its incoming resources should reduce.
## **d. Principal funding**
The principal funding sources for the Charity are currently by way of legacies, investment income, donations, subscriptions and gift aid.
## **e. Material investments policy**
The investments managed by J.M. Finn & Co. are held to generate income in pursuance of the Charity’s objectives and for the benefit of appreciation in value.
## **Structure, governance and management**
## **a. Constitution**
The Charity is registered as a Charitable Company limited by guarantee and was set up under a Memorandum of Association which established the objects and powers of the Charitable Company and is governed under its Articles of Association.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
## **c. Policies adopted for the induction and training of Trustees**
Most Trustees are already familiar with the practical work of the Charity, having been involved with it for many years.
A new Trustee would be invited to attend short meetings to familiarise him/herself with the Charity and the context in which it operates. This would be lead by the Chairman of the Executive Committee and would cover:
1. The obligations of Executive Committee members.
2. The main documents that set out the operational framework for the Charity.
3. Resourcing and the current financial position as set out in the audited accounts.
4. Future plans and objectives.
5. Ongoing Trustee training is undertaken through Charity Commission Updates.
## **d. Pay policy for key management personnel**
The Trustees consider that the Board, Chairman and Secretary comprise the key management personnel of the charity. All Trustees give up their time freely and no Trustee received any remuneration in the year. The remuneration of senior staff is reviewed annually, with the Trustees referring to the Office for National Statistics average wage index.
Page 5
THE PJIGL04TALIAN SOCIEfY FOR THE PROTECTION OF ANIMALS
(A CoMpY limrted lry guarantee
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 20ZJ
e. Organisational Structu and dlsiOn making
At present the Executive Commrttee meet four limes a sear amd are responsib for the strategic (Iredion and
poliGy of the Charity. They have a variety of Professional bad(gn)unds levant to the work of the Chanty. All
members a activety invdved and 51rive ki ensure vAlh a wmmon purrThe Ihat the Charws objeclves are met.
f. Risk management
The Trustees have assessed the major risks to lch the C#}8rfty is exposed. in particular thLtse related to the
oper*.S and fIrceS ofthe Charity. arKI are satistEd that syslems and PrdreS are in ace to mittgate our
exFQ5ure to the major iisks.
The prlncipal risk continues to be financial sustainabilrty and Ma$ntena of wcwking Catal. Attention has been
foojsed on r(*)ust itwestment Folicies an¢J fundraising pcdicies.
Risk ha5 been considered wÉth regard to the Charity Commbssion's guiddthes set out in tsr publicati CC26.
statement orTnt. r8sponsibililie5
The Trustees (who are also the direcl(ws of the Charity for the of company law) are F4)nS*e for
preparing TTUStee5' rewt aThl the financial statements in aCCordar th law and Unrte(J
Kin9Jom Ac(x)untirry Standards (United "11J0M GTalAPted Accourrting Practice).
Company law requires Ihe TeS to prepare fmancial statements for each financial year. Under MpanY law,
the Trustee5 must not apprDve the finanaal statements unless they are satisfied that tw give a tnje and fair
view of the slate of affaiTr of the Charity and of its incoming re5(Jurces and awication of resources. including lis
inmme and expenditure. for that period. In preparing these firBncial statements, the Tntstee5 are required to:
select suitaue aC(nting policAes and Ihen apply thwn c0nsl5tenu.
observe Ihe method5 an(J principles of the Chartbes SORP IFRS 102}:
make judgments and accounling e5b"maies that are reasonable and prudenL
state whether applicable UK Accounting Standarf5 IFRS 11r21 have been fdlowed. subjectto any material
departures disclosed and explained in the financial statements"
prepare the finanual statemerts on the g)ing concem basi5 ureSS it ts inapprowate to presume that the
Char[LyWl (xjntinue in operation.
The TfUStees are re8ponsible for keepiro adequate ac(x)unting records that are sjffirient to shcw and ex3
the Chartvs transacbons and disd05e reasonable accuracy at any b.me 1he financial PDSrtE'on of the Charity
and enae them to en5 that the financial statements comply with the Companie5 Act 20(. They are also
responsible for safeguarrling the assets of the Charty and hence for taking reasorthle steps for the prevention
and deteclion of fraud and other irregLAariies.
roved byor(kr of the MernL of trA)ard ofTrustee5 and swed on thr behalf ty.
Crispin
limbeni M.
(Chair of Tw5tees)
Lfj JtML LOILt
Page 6
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
3
Investments
4
**Total income**
**Expenditure on:**
Raising funds
5,6
Charitable activities
7
**Total expenditure**
**Net expenditure before net gains/(losses) on**
**investments**
Net gains/(losses) on investments
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**72,218**
**55,289**
**127,507**
**98,328**
**189,353**
**287,681**
**(160,174)**
**133,875**
**(26,299)**
**1,936,641**
**(26,299)**
**1,910,342**|**Total**
**funds**
**2023**
**£**
**72,218**
**55,289**
**127,507**
**98,328**
**189,353**
**287,681**
**(160,174)**
**133,875**
**(26,299)**
**1,936,641**
**(26,299)**
**1,910,342**|_Total_
_funds_
_2022_
_£_
_141,307_
_52,089_
_193,396_
_92,790_
_210,204_
_302,994_
_(109,598)_
_(192,706)_
_(302,304)_
_2,238,945_
_(302,304)_
_1,936,641_|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
All activities relate to continuing operations. All income and expenditure was allocated to/ from unrestricted funds in the prior year.
The notes on pages 9 to 23 form part of these financial statements.
Page 7
THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS
IA company liwniled by guarantee)
REGISTERED NUMBER: 00335703
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Tangible assets
Inv8Stmonts
12
307
1.838,969
444
1,552006
13
1.839276
1.$5Z450
Current assets
Debtors
Cash at bank and In hand
14
5,930
75A7t)
4Z672
356,161
8f.S00
398.833
Creditor5'. amotjnts falling dije wthin one
year
15
{10.434)
(14,642J
Net current assets
71.066
384, 191
Total net assets
1.910.342
1,936.641
Charfty funds
Unrestricted fij1$
16
1,910J42
1.936,641
Total funds
1,910.342
1.936.641
Th& Charlty was entrued to extrmption from audit under sethion 477 ofthe Cornpanies Act 2006.
The members have not iequired the c(wnp8ny to obtatn alt audit for Ih8 y8ar in question n accordanca wilh
stIOn 476 of Companles Act 2006.
The TTkJslees acknowle¢Jge theFr ress)on5ibilities for cnplying wth the TequiTemenls of the Act *ith respect to
aOUntIng recorts and preparation of fmanual statements.
Thè financlal staternenls ha prepared In accordanca *llh the [VIsIonS applicaNe to èntities 5ublect to
the small ccrnpanles regime.
finanThal slatements were approved and aulhor¢sed for issue by the Twustees aNI signed on their b8haK by.
Crispin S
Dats:
limbeni M.
The notes on pag8s 9 to 23 fom part of Ihese financial statements.
Page 8
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. General information**
The Anglo-Italian Society for the Protection of Animals is a charitable company limited by guarantee (company registration number 00335703) and a charity (charity registered number 208530) registered with the Charity Commission in England and Wales.
The address of the registered office is given in the Charity information on page 1 of these financial statements.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Anglo-Italian Society for the Protection of Animals meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling, the functional currency, rounded to the nearest £1.
## **2.2 Going concern**
The financial statements have been prepared on a going concern basis. The trustees have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the trustees have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.
Page 9
**THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Donations are included when the Charity has an unconditional entitlement to the income. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **2.4 Expenditure and support cost allocation**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities as the proportion of total direct expenditure per project.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 10
**(A company limited by guarantee)**
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £50 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
- Office equipment 33.33% reducing balance
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 11
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.12 Financial instruments**
The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows:
Debtors – trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 14. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Liabilities – trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 15. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument.
## **2.13 Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account.
## **2.14 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
Page 12
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.15 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **2.16 Judgements and key sources of estimation uncertainty**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgement:
No significant judgements have been made by management in preparing these financial statements other than in the consideration of the useful life of tangible fixed assets. The trustees consider that the expected useful lives of the assets are fairly stated.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2023**
**£**
Donations
50,598
Legacies
21,620
72,218
_Total 2022_
_141,307_|**Total**
**funds**
**2023**
**£**
**50,598**
**21,620**
**72,218**
_141,307_|_Total_
_funds_
_2022_
_£_
_51,956_
_89,351_|
|---|---|---|
|||_141,307_|
||||
Page 13
**(A company limited by guarantee)**
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **4. Investment income**
|**Unrestricted**
**funds**
**2023**
**£**
Investment income from listed investments
55,279
Bank interest receivable
10
55,289
_Total 2022_
_52,089_|**Total**
**funds**
**2023**
**£**
**55,279**
**10**
**55,289**
_52,089_|_Total_
_funds_
_2022_
_£_
_52,020_
_69_|
|---|---|---|
|||_52,089_|
||||
## **5. Expenditure on raising funds**
## **Costs of raising voluntary income**
|**Unrestricted**
**funds**
**2023**
**£**
Light & heat
1,252
Telephone and postage
4,268
Printing and stationary
4,865
Publicity
8,634
Sundry costs
-
Staff costs
68,490
87,509|**Total**
**funds**
**2023**
**£**
**1,252**
**4,268**
**4,865**
**8,634**
**-**
**68,490**
**87,509**|_Total_
_funds_
_2022_
_£_
_1,529_
_3,517_
_4,473_
_7,367_
_56_
_65,004_|
|---|---|---|
|||_81,946_|
Page 14
**(A company limited by guarantee)**
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6. Investment management costs**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2023**|**2023**|_2022_|
||**£**|**£**|_£_|
|Investment management fees|10,819|**10,819**|_10,844_|
## **7. Analysis of expenditure by activities**
|Refuges for cats and dogs
Bird and wildlife conservation
Birth control campaign
Campaign against cruelty
Refuges for cats and dogs
Bird and wildlife conservation
Birth control campaign
Campaign against cruelty|**Grant**
**funding of**
**activities**
**2023**
**£**
77,613
17,501
6,702
17,001
118,817
_Grant_
_funding of_
_activities_
_2022_
_£_
_85,812_
_22,002_
_16,274_
_17,001_
_141,089_|**Support**
**costs**
**2023**
**£**
61,410
3,876
1,484
3,766
70,536
_Support_
_costs_
_2022_
_£_
_42,033_
_10,780_
_7,973_
_8,329_
_69,115_|**Total**
**funds**
**2023**
**£**
**139,023**
**21,377**
**8,186**
**20,767**|
|---|---|---|---|
||||**189,353**|
||||_Total_
_funds_
_2022_
_£_
_127,845_
_32,782_
_24,247_
_25,330_|
||||_210,204_|
Page 15
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Office rent
Italy inspections
Governance costs|**Refuges for**
**cats and**
**dogs**
**2023**
**£**
10,324
5,703
1,163
44,220
61,410|**Bird and**
**wildlife**
**conser-**
**vation**
**2023**
**£**
2,328
1,286
262
-
3,876|**Birth**
**control**
**campaign**
**2023**
**£**
891
493
100
-
1,484|**Campaign**
**against**
**cruelty**
**2023**
**£**
2,262
1,249
255
-
3,766|**Total**
**funds**
**2023**
**£**
**15,805**
**8,731**
**1,780**
**44,220**|
|---|---|---|---|---|---|
||||||**70,536**|
Page 16
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Staff costs
Office rent
Italy inspections
Governance costs|_Refuges for_
_cats and_
_dogs_
_2022_
_£_
_9,123_
_5,247_
_1,219_
_26,444_
_42,033_|_Bird and_
_wildlife_
_conservation_
_2022_
_£_
_2,340_
_1,345_
_313_
_6,782_
_10,780_|_Birth control_
_campaign_
_2022_
_£_
_1,730_
_995_
_231_
_5,017_
_7,973_|_Campaign_
_against_
_cruelty_
_2022_
_£_
_1,808_
_1,040_
_242_
_5,239_
_8,329_|_Total_
_funds_
_2022_
_£_
_15,001_
_8,627_
_2,005_
_43,482_|
|---|---|---|---|---|---|
||||||_69,115_|
## **8. Governance costs**
|Audit fees
Legal and professional fees
Independent examiner's fees
Representations and travel
Acccountancy fees
Payroll
Office equipment maintenance
Depreciation
Insurance
Office rent
Exchange (gain)/ loss
Bank charges
Staff costs|**2023**
**£**
**-**
**1,694**
**9,384**
**2,328**
**4,200**
**1,092**
**1,365**
**137**
**283**
**2,184**
**75**
**456**
**21,022**
**44,220**|_2022_
_£_
_10,980_
_1,273_
_-_
_2,651_
_4,200_
_848_
_561_
_222_
_343_
_2,157_
_(157)_
_404_
_20,000_|
|---|---|---|
|||_43,482_|
Page 17
**(A company limited by guarantee)**
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **9. Grants paid to institutions**
|Associazione "Gli aMici di Mariella"
Animal Empathy Onlus
Association Animal Welfare
The Anglo-Venetian Group for the Protection of Stray Animals (Dingo)
Liberi di Volare
Associazione Mici Felici
Associazione Protezione Animali
Gatti Mammoni
Blue Conservancy
Cats Onlus
Careggi Cat Colony
Canile di Scandicci
Ente Nazionale Protezione Animali
EDIGA
Almagea ODV
Gli Invisibili Del Canili Rifugio
Il Graffio
Italian Horse Protection Association
Lega Nazionale per la Difesa del Cane
Olbia Lega Italiana dei Diritti dell Animale
Sassari Lega Italiana dei Diritti dell Animale
Lega Pro Animale
The Fido and Neighbourhood Assocation
LIPU UK
Salviamo l'Orso
Torre Argentina Sanctuary
Associazione IL Gattle|**2023**
**£**
**6,002**
**-**
**8,001**
**9,001**
**6,500**
**3,500**
**1,001**
**6,500**
**-**
**2,200**
**-**
**-**
**1,000**
**7,501**
**1,500**
**1,801**
**4,251**
**17,001**
**7,001**
**251**
**8,002**
**5,000**
**-**
**4,001**
**7,001**
**9,302**
**3,000**
**119,317**|_2022_
_£_
_6,022_
_500_
_8,001_
_9,000_
_6,500_
_3,500_
_1,500_
_6,500_
_4,000_
_3,772_
_5,002_
_3,500_
_1,001_
_7,501_
_3,501_
_1,001_
_4,251_
_17,001_
_7,000_
_251_
_8,282_
_8,001_
_3,500_
_4,001_
_7,001_
_11,000_
_-_|
|---|---|---|
|||_141,089_|
Page 18
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. Staff costs**
|Wages and salaries
Social security costs
Pension costs|**2023**
**£**
**96,909**
**5,871**
**2,537**
**105,317**|_2022_
_£_
_91,892_
_5,731_
_2,382_|
|---|---|---|
||||
|||_100,005_|
The average number of persons employed by the Charity during the year was as follows:
||**2023**|_2022_|
|---|---|---|
||**No.**|_No._|
|Administrative staff|**2**|_2_|
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel are considered to be the Trustees and the company secretary. The aggregate of amounts paid to key management personnel in the year ended 31 December 2023, including gross salary, employer’s national insurance and employer’s pension contributions, was £47,812 (2022: £45,912).
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 December 2023, expenses totalling _£_ NIL were reimbursed to Trustees (2022: _£_ 1,199). Trustee expenses were incurred in 2022 in relation to travel.
Page 19
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**12.**
**Tangible fixed assets**
**Cost or valuation**
At 1 January 2023
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
_At 31 December 2022_|**Office**
**equipment**
**£**
**11,748**|
|---|---|
||**11,748**|
||**11,304**
**137**|
||**11,441**|
||**307**|
||_444_|
Page 20
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**13.**
**Fixed asset investments**
**Cost or valuation**
At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023
**Net book value**
At 31 December 2023
_At 31 December 2022_
**14.**
**Debtors**
**Due within one year**
Other debtors
Prepayments and accrued income
**15.**
**Creditors: Amounts falling due within one year**
Other creditors
Accruals|**2023**
**£**
**5,930**
**-**
**5,930**
**2023**
**£**
**542**
**9,892**
**10,434**|**Listed**
**investments**
**£**
**1,552,006**
**276,167**
**(123,079)**
**133,875**
**1,838,969**
**1,838,969**
_1,552,006_
_2022_
_£_
_3,335_
_39,337_
_42,672_
_2022_
_£_
_536_
_14,106_
_14,642_|
|---|---|---|
Page 21
**(A company limited by guarantee)**
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **16. Statement of funds**
## **Statement of funds - current year**
||||||**Balance at**|
|---|---|---|---|---|---|
||**Balance at 1**||||**31**|
||**January**|||**Gains/**|**December**|
||**2023**|**Income**|**Expenditure**|**(Losses)**|**2023**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General Funds|**1,936,641**|**127,507**|**(287,681)**|**133,875**|**1,910,342**|
|**Statement of funds - prior year**||||||
||||||_Balance at_|
||_Balance at_||||_31_|
||_1 January_|||_Gains/_|_December_|
||_2022_|_Income_|_Expenditure_|_(Losses)_|_2022_|
||_£_|_£_|_£_|_£_|_£_|
|**Unrestricted funds**||||||
|General Funds|_2,238,945_|_193,396_|_(302,994)_|_(192,706)_|_1,936,641_|
## **17. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Tangible fixed assets
307
Fixed asset investments
1,838,969
Current assets
81,500
Creditors due within one year
(10,434)
**Total**
1,910,342|**Total**
**funds**
**2023**
**£**
**307**
**1,838,969**
**81,500**
**(10,434)**|
|---|---|
||**1,910,342**|
Page 22
**(A company limited by guarantee)**
## **THE ANGLO-ITALIAN SOCIETY FOR THE PROTECTION OF ANIMALS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **17. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2022_
_£_
_444_
_1,552,006_
_398,833_
_(14,642)_
_1,936,641_|_Total_
_funds_
_2022_
_£_
_444_
_1,552,006_
_398,833_
_(14,642)_
_1,936,641_|
|---|---|---|
## **18. Related party transactions**
During the year the Charity paid office rent of £9,000 (2022: £9,000) at a commercial rate to the landlord John Anthony Tenison-Collins, who is the husband of Susan Tenison-Collins, a Trustee of the Charity. The amount outstanding at the year end was £nil (2022: £nil).
Page 23