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2021-12-31-accounts

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Company number: 558085

Charity number: 209015

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

(A company limited by guarantee)

Annual report and financial statements 31 December 2021

For the working animals of the world

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Contents Pages
Report by the Board of Trustees 1–21
Independent auditor’s report 22–24
Consolidated statement of financial activities 25
Consolidated and charity balance sheet 26
Consolidated statement of cash flows 27
Notes to the financial statements 28–43

For the working animals of the world

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

INTRODUCTION

Introduction from our Chair of Trustees and Chief Executive

Following the unprecedented challenges of the previous year, 2021 continued to be exceptionally challenging for working animals and the communities that they support. External factors, including the ongoing impact of the global coronavirus (Covid-19) pandemic, political and economic unrest, and extreme weather incidents caused by climate change, meant that many working animals faced suffering and neglect as never before.

But in their time of need, SPANA continued to be there for the working animals of the world.

In this report, you will read about how SPANA successfully pursued its vital mission throughout 2021, in the face of numerous global and local challenges. Thanks to the dedication and determination of SPANA’s global workforce and our partners, we ensured the provision of vital veterinary treatment to more working animals than in the previous year. Our training also reached more communities and veterinary professionals, and we were able to teach more children, providing invaluable education in animal welfare. In situations of immediate need, our emergency response projects also helped working animals facing starvation and environmental disasters such as flooding.

In reviewing our many achievements of 2021, I am also pleased to report that we ended the year with Linda Edwards – our new Chief Executive – firmly established in her role. Linda is determined to lead the charity forward with a reinvigorated vision to elevate our work to another level.

On behalf of the charity’s Board of Trustees, I would like to extend my gratitude to the charity’s supporters, for your continued kindness and generosity.

Dr Mary-Lorraine Hughes, Chair of Trustees

I am privileged to have joined SPANA as Chief Executive and I’m immensely proud of everything the charity achieved in 2021. Despite many significant external challenges, we have continued to support the welfare of working animals who play key – and often overlooked – roles in the world’s poorest communities. For those animals, SPANA continues to offer hope for a brighter future.

As I look to the future, I am excited by the opportunities SPANA has to build on its great work, focusing on delivering a lasting, positive difference to the lives of working animals. I truly believe that as SPANA enters its 100th year in 2023, we have a historic opportunity to drive a sustainable transformation in the welfare of working animals in the world’s poorest communities.

Thank you for your support of our vital work.

Linda Edwards, Chief Executive

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Highlights from 2021

The significant challenges created by the coronavirus (Covid-19) pandemic and accompanying local health restrictions inevitably constrained SPANA’s activities and plans in 2021. But despite the obvious challenges, the charity nevertheless continued to successfully deliver the core of our work programme throughout the year. Our key achievements included:

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

About SPANA

Around the world, more than 600 million people rely on a huge, but largely overlooked, workforce of donkeys, mules, horses, elephants, camels and oxen to support their livelihoods. It’s a precarious existence for members of these low-income communities: should an animal become sick or injured, whole families can rapidly find themselves in desperate poverty. In some parts of the world, a working animal really is the difference between life and death.

There are at least 200 million working animals in the world: only a small number of these animals will have access to even the most basic veterinary care. If they are sick or in pain, they work on.

But, for the lucky few, there is SPANA, an animal welfare charity that strives to build a more compassionate future for working animals, wherever they are needed most.

SPANA’s vision is a world where every working animal lives a life free from suffering and is treated with compassion. Our mission is to improve the welfare of working animals in the world’s poorest communities.

To achieve our mission, we currently treat, train and teach across 28 countries:

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Where we work

In 2021, SPANA worked across the following 28 countries, delivering a variety of activities to support the welfare of working animals.

Treat – Providing veterinary care

Train – Improving owners’ knowledge and skills, and building capacity with vets and teachers

Teach – Developing compassion and respect towards animals among schoolchildren.

Teach– Developing compassion and respe ct towards anima ls among schoo lchildren.
Country Treat Train Teach
Botswana
Cambodia
Cameroon
Costa Rica
Ethiopia
Ghana
Guatemala
Guinea
Honduras
India
Indonesia
Iraq
Jordan
Liberia
Mali
Mauritania
Morocco
Mozambique *
Myanmar
Namibia
Sierra Leone
Somaliland
South Africa
Tanzania
Tunisia
Uganda
Zambia
Zimbabwe

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Five-year strategy 2018–2022

SPANA aspires to be recognised as the world’s leading charity for working animals. The charity ultimately aims to have an impact and influence in every accessible low-income country with a significant working animal population.

During the first two years of the 2018-2022 strategic period, SPANA was focused on expanding our work into new territories and strengthening our professional networks. We worked hard to develop and build awareness and income for the charity, and our organisational infrastructure, in support of our goal.

In 2020 and 2021, the Covid-19 pandemic forced us to realign our plans. Faced with a variety of health restrictions across the globe, our teams worked tirelessly to ensure the continued running of our vital operations, while ensuring all our activities became Covid-secure. Globally, we also responded to the potential implications of the pandemic by holding a strategic review of our organisation. Through this process, we aimed to protect both SPANA’s ability to deliver on its mission and its long-term future, while ensuring the charity would be well placed to pursue future growth opportunities when external conditions improved.

Objectives and achievements for 2021

In addition to the ongoing work we undertake in our core countries (Botswana, Ethiopia, Mali, Mauritania, Morocco, Tunisia and Zimbabwe), SPANA achieved the following outcomes against the objectives planned for 2021.

Treat

Treat
Objective Achievements
Maintain current programmes and expand
selected core areas (rural Zimbabwe, Ségou in
Mali, and Gondar in Ethiopia).		 All 2020 programmes continued in 2021 and we
expanded our work in rural Zimbabwe, Mali
(Ségou) and Ethiopia (Gondar) with new mobile
clinics. The Gondar and Sodo Clinical Skills
Centres were also established in Ethiopia.
Develop projects to include Community Training
and Education.		 The continued advocacy efforts undertaken by
our team in Zimbabwe during 2021 led to the
signing of a five-year Memorandum of
Understanding that will allow SPANA to develop
children’s education and associated activities as
part of Zimbabwe’s national education
programme. The pilot project of the Promoting
Animal Welfare in Schools (PAWS) clubs was
subsequently scheduled for launch in May 2022.
Several Service Learning projects, which link
humane education and community needs, took
place in Ethiopia and Mali during2021.
Identify new Outreach projects. The following Outreach projects signed
agreements with SPANA in 2021: Indonesia
(Jakarta Animal Aid Network), Zambia
(NYEMOVEC), Clinical Skills Centres were also
established with universities in Kenya and
Uganda.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Train

Train
Objective Achievements
Provide a SPANA Veterinary Curriculum
alongside the portal for virtual training.		 The SPANA Curriculum for Equid Essentials
was successfully developed and has been made
available to all those who subscribed to the
SPANA learning portal.
Provide veterinary training in laboratory
medicine, and project management.		 SPANA’s six Clinical Skills Centres delivered
laboratory medicine training throughout 2021,
despite the temporary restrictions caused by
pandemic-related closures. We also ran an
eight-week virtual congress for the VIN
(Veterinary Information Network) in the spring of
2021.
Develop a Community Training curriculum with
support materials for Humane Education
Officers and Community Training Officers.		 This project was postponed due to local health
restrictions imposed in response to the
pandemic. This will be reviewed as part of 2022
programming.
Provide a virtual congress inclusive of Education
and Community Training.		 The SPANA Congress ‘Sharing Knowledge for a
Stronger Future’ took place between 18 and 20
October 2021, with approximately 130
participants from our global programmes and
partners joining our virtual, tri-language
(English, French and Arabic) event. The event
provided Education, Veterinary and Community
Trainingsessions and workshops.

Teach

Teach
Objective Achievements
Develop Education strategy to encompass
Humane Education Officer evolution and
Community Training.		 Limited progress was made in this area, largely
due to the restrictions on movement, in
particular primary education across our
programmes. Some support was provided to
Community Training in Mali alongside work with
SPANA’s Humane Education Officers in the
development of curriculum and teacher training
materials.
Provide virtual International Certificate in
Humane Education (ICHE) training support and
incorporate into country curriculum.		 The digital ICHE was successfully developed in
2021. An evaluation is planned for 2022.
Expand selected current outreaches to
partnership level (e.g. Namibia).		 The following projects now provide education,
veterinary care, and community training: AWPO
in Uganda (which is also pursuing advocacy
work); APOWA in India; SPCA Windhoek in
Namibia; TAWESO in Tanzania; and HORN
SPCA in Somaliland.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Emergency response

Emergency response
Objective Achievements
Support emergency response projects. Although all projects stepped up support where
feasible, emergency feeding was delivered in two
critical areas: the Gili Islands, Indonesia, and
Marrakech, Morocco. An emergency flood relief
project was also supported in northern Ghana,
delivered by our partner, Donyaepa.
Develop disaster risk reduction/preparedness. A disaster risk reduction project was designed
with our partner APOWA in Odisha, India – this
set out to respond to the increasing risk from
cyclones and storm surges.
Include donkey skin trade as a direct action. The donkey skin trade remained a concern
throughout 2021. In order to address this,
SPANA supported outreach projects focused on
building kraals to keep animals safe, education
for owners, and donkey parking sites to provide
additional safety for their animals. We also
continued to lobby and campaign at a national
level throughout our projects. Specific donkey
skin activities were run in Ghana, Uganda and
Mali. Mali activities included training meetings,
supported by the local police force, which make
owners aware of the donkey skin trade and help
them to develop an approach to donkey thefts.

Services impact and evaluation

Services impact and evaluation
Objective Achievements
Develop an organisational Theory of Change,
incorporate log frame and milestones (Outcome
and Impact reporting).		 A foundational Theory of Change was
developed. This will support the work set out for
2022 when broader programme engagement
will commence.
Develop exit and transition strategy. Work has continued on decision-making criteria
and scenarios for what sustainable exits may
look like. This critical piece of work will be
integrated into future project design to ensure
sustainabilityis at the core of our approach.
Develop international data sharing to Office 365,
with Power BI for analytics.		 This was successfully completed with a Power
BI dashboard for data and statistical
presentation now developed.
Provide a quarterly pipeline, dashboard and key
performance indicator information.		 Key performance data is now delivered on a
quarterly basis to the Senior Leadership Team
and, in turn, presented to the Board of Trustees
for review.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Fundraising, Marketing and Communications

Fundraising, Marketing and Communications
Objective Achievements
Maximise income for SPANA’s vital work
worldwide through a fully-integrated fundraising
and marketing strategy, which aims to build
supporter commitment, loyalty and giving to
SPANA as part of a donor journey.		 The charity generated £8,913,059 in voluntary
income during 2021, thanks to the kindness of
our supporters. This made 2021 our second-
best-ever year in income terms. Our supporter
base included 13,607 regular donors by the end
of 2021 – up7per cent from 2020.
Expand our legacy marketing programme by
piloting a digital acquisition campaign aimed at
securing legacy pledges from potential/new
supporters.		 In addition to a legacy mailing and regular
legacy promotion across our publications, Direct
Mail appeals and website, we successfully
piloted the digital acquisition of legacy pledges
and enquiries from members of the public via
Facebook and Google advertising, during 2021.
Develop our social media channels as
fundraising and marketing tools for SPANA, with
pilot activities aimed at acquiring new donors.		 In addition to maintaining a social media
audience of more than 390,000 followers, we
successfully began using Facebook and Twitter
as a donor acquisition tool in 2021, with a series
of posts aimed at generating income.
Work to develop our position as the voice of
working animals through our PR and
communications programme.		 SPANA was the subject of 822 items of PR
coverage highlighting the plight of working
animals and our vital work to transform their
welfare. This coverage included 75 national
articles. Our total volume of PR coverage in
2021 was 8per cent upon 2020 and 2019.

Finance, Human Resources and Information Technology

Objective Achievements
Move the charity into new premises that are
more suitable for the new way of working.		 A buyer for our John Street premises was found
in 2021, with the sale completing in January
2022. Following the sale, the charity has piloted
new ways of working involving rented working
spaces, while proceeding to develop its long-
termplans for the future.
Complete the second phase of the upgrade to
our financial system.		 The upgrade started in November 2021 and was
completed in January2022.
Upgrade our telephone system. The telephone system was upgraded in May
2021, which meant external calls to SPANA
could be answered by staff, even when working
remotely.
Update our appraisal and staff performance
monitoring systems.		 This work has now become part of our
organisational workforce development plan for
2022.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

SPANA Business Plan 2022

Since 1923, SPANA has been a shining source of lifesaving support and care to working animals in need. But as the charity now approaches its centenary in 2023 and prepares to embark on its next era of work, we need a strategy and plan that will enable the organisation to pursue and deliver a lasting transformation in the welfare of working animals. We also need to ensure the charity is equipped with the organisational workforce and business infrastructure it needs to deliver on our new strategy.

To achieve this, we have set an ambitious Business Plan of activities for 2022 that will strengthen the foundations for the charity’s future. In parallel to our business-as-usual activities, we will work to enhance all aspects of our global programming and our global infrastructure, to maximise our efficiency and effectiveness as a charity and to ultimately increase our ability to bring about a lasting, sustainable change to the welfare of working animals. Our key objectives for the year include:

Our charity

Global Animal Welfare

Global Fundraising, Marketing and Communications

Global Resources

FINANCIAL

Financial review

Voluntary donations, excluding legacies, were £3,761,165 in 2021 (2020: £3,765,359). Legacy income was £4,978,689 and was impacted by a change in accounting policy in the previous year (2020: £5,541,710), with a further estimated value of notified legacies standing at £4,233,233 in total, yet to be received. As a proportion of total income, legacies contributed 54 per cent (2020: 55 per cent).

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

The fundraising, marketing and communications objectives for the year were to increase income from a comprehensive fundraising programme, reach a wider audience, recruit new donors and maintain high levels of supporter care; all these objectives were exceeded despite the adverse conditions affecting the sector.

Direct charitable expenditure was £5,325,340 in 2021 (2020: £5,205,709). This reflects the limits on our veterinary, training and teaching activities caused by the pandemic and accompanying local lockdowns.

The operating surplus for the year was £1,323,727 (2020: £2,057,373). The charity planned for an operating deficit as part of its plans to increase the number of countries in which we operate. The use of planned operating deficits is also reflected in our reserves policy, which aims to manage effectively free reserves held by the charity at sustainable levels.

Net assets at the year-end stood at £13,151,334. This sum included Restricted Funds of £249,268 and a Designated Fund of £2,917,815 (see page 11 for details). The General Fund of £9,984,251 is available for financing working capital and future operations of the charity.

SPANA’s subsidiary, SPANA Trading Limited, made a valuable contribution to the charity’s funds through the sale of Christmas cards, merchandise and gifts. Details on the financial performance of SPANA Trading Limited can be found in note 8(d).

The Society for the Protection of Animals Abroad (Australia) Limited, which was established in order to promote the charity’s fundraising programmes in that country, made a profit in its fourth year of operation. Details of this subsidiary can be found in note 8(f).

SPANA’s charitable activities in Jordan have historically been carried out by two subsidiaries. However, following a review of our operations in Jordan, the decision was made to liquidate these subsidiaries and to perform our charitable work through partners. The process to liquidate the subsidiaries was due to be completed in 2021. However, the process was delayed and is now due to be completed in 2022.

The outbreak of the Covid-19 pandemic had an immediate effect on the finances of the charity, with the value of our investments in 2020 falling by £218,164. However, our investment portfolio subsequently recovered from this in 2021 and the unrealised gain stood at £799,362 at the end of the year.

The sale of our John Street premises was agreed with a buyer during the summer of 2021, and the property was sold for £3.3m in January 2022. Details of this transaction can be found in note 16. Following the sale, the charity piloted new ways of pursuing a hybrid working model, involving the use of rented working spaces and the continued use of remote/home working, while we refined our longterm plans for office use.

Reserves policy

SPANA holds reserves so that it can continue to fund its operations and deliver its charitable objectives if income is impacted by unforeseen events. The reserves are divided into restricted and unrestricted funds.

Total funds in 2021 were £13,151,334 (2020: £11,025,934). SPANA’s funds comprise both restricted and unrestricted reserves.

Restricted reserves at 31 December 2021 were £249,268 and are the unspent monies raised for a specific purpose and which can only be used for that purpose; full details are shown in Note 12.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Total unrestricted reserves on 31 December were £12,902,066 and are those available for general spending. Within total unrestricted funds are designated funds totalling £2,917,815. Designated funds represent the net book value of the charity's fixed assets, money set aside in the form of a Global Investment Fund and money set aside for the purchase of new UK premises, details are shown in Note 11. Remaining free reserves at 31 December 2021 were £9,984,251, representing 60 weeks forward expenditure against a reserves target of 26 weeks (or £4.4m based on 2022 planned expenditure). SPANA’s intention is to use these excess reserves to restructure operations and programmes in line with the five-year strategic plan so that free reserves fall within the target range by the end of 2022.

The Trustees will continue to monitor the reserves position, including free reserves, which is one of the key performance indicators reviewed by the trustees.

Going concern

In 2021, the global coronavirus (Covid-19) pandemic continued to have a significant operational and financial impact on the charity and its activities.

Our activities have continued, though with some restrictions, throughout the crisis and action has been taken to ensure the safety of our employees and those we work with through remote working and social distancing. Key risks surrounding the pandemic have been incorporated into our risk management framework and are monitored regularly by the Trustees and Senior Leadership Team.

Our response to the crisis has included:

A revised forecast has been prepared which considers expected financial performance up to December 2023. This exercise has considered sensitivities and scenario planning over key assumptions, including fundraising income, staff costs and available reserves.

The planning performed around the impact of the pandemic and other issues, such as the potential impact of the conflict in Ukraine, the Cost of Living crisis and potential inflation increases, formed the basis for preparing for limited voluntary income growth by the charity.

Financial performance and cash flow are monitored regularly with a focus on liquidity and available free reserves being of central importance. As part of this oversight, there is ongoing assessment of fundraising and investment performance and the cash position to ensure SPANA retains sufficient headroom to fund day-to-day activities. Should performance fall below expectation, additional cost savings and contingencies have been identified to ensure the organisation can continue as a going concern.

The proceeds from the sale of the premises at John Street has increased cash reserves, as some of the proceeds will fund the purchase of a new, smaller and more modern office, while the remainder will provide additional funds to cover ongoing operations.

After consideration of the revised forecasts, sensitivity and scenario planning and the current level of available free reserves, the Trustees are satisfied that there are no material uncertainties around SPANA’s ability to continue as a going concern and it remains appropriate to prepare the accounts on that basis.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Investment powers, policy and performance

Monies not immediately required for SPANA’s charitable purposes are invested into assets and for a term as the Trustees think fit and suitable in the context of all relevant circumstances of the charity.

The charity’s excess funds are currently invested in cash and marketable securities. The Board of Trustees has adopted an investment policy that is medium risk, investing in both fixed interest funds and equities, and to this end has also issued a statement of the charity's investment policy, the terms of reference for the investment managers, and a statement of the charity’s ethical policy.

SPANA's investment policy is predicated on the Trustees' obligation to safeguard its assets. Within that requirement, the Investment Managers have authority to invest in order to maximise the return to SPANA. However, in doing this, they are directed by SPANA to screen investments from an ethical standpoint in an effort to ensure that investments are not made with companies whose performance might, for instance, be affected by unethical business practices or negative environmental practices.

The Board considers that the performance of its investment portfolio was in line with its policies and overall global stock market conditions in 2021 and against a suitable benchmark for this policy.

Principal risks and uncertainties

Risks are identified and reviewed on a fortnightly basis at every Senior Leadership Team meeting, when appropriate actions to mitigate or manage risks are agreed. Risks are also assessed and reviewed by the Trustees at the Finance and Audit Committee and at quarterly Board meetings. Any urgent risks would be referred immediately to the Chair of Trustees and wider Board, as appropriate.

Significant risks identified by the Senior Leadership Team in 2021 included the following:

The impact of the Covid-19 pandemic on our global programmes

The ongoing impact of the Covid-19 pandemic, and the associated health issues and local restrictions/lockdowns, posed a clear risk to our programme delivery and the wellbeing of our staff. Actions taken and controls that exist to mitigate these risks included:

The impact of the Covid-19 pandemic on our safeguarding

The ongoing impact of the Covid-19 pandemic limited the UK leadership team’s ability to supervise the organisation’s adherence to our safeguarding policy. Actions taken and controls that exist to mitigate these risks included:

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Fraud and bribery

A major incident involving fraud or bribery remains an inherent risk of our global activity. Actions taken and controls that exist to mitigate these risks included:

The impact of specific challenges, including drought, floods and instability caused by national conflicts, on our global programmes

During 2021, local issues including droughts, floods and instability caused by national conflicts, posed a risk to programmes in countries including Botswana, Ethiopia and Mali. Actions taken and controls that exist to mitigate these risks included:

The impact of economic uncertainty caused by the Covid-19 pandemic and other global events

The ongoing challenges created by the pandemic and other global events, including the growing Cost of Living crisis, increased inflation, rising national tensions and general uncertainty across the world markets, has both limited specific areas of fundraising (such as community fundraising and events) and had a varying impact on different segments of the global charity giving market. This created exceptional unpredictability and volatility for SPANA’s fundraising and marketing programme in 2021. Actions taken and controls that exist to mitigate this risk include:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure

SPANA is a global organisation with clear objectives and a strong international profile. On a day-to-day basis, it is managed by the Senior Leadership Team (SLT), which comprises the charity’s Chief Executive and Directors.

The SPANA group consists of the charity, its subsidiaries in Jordan and Australia, and SPANA Trading Limited, a UK trading subsidiary. The subsidiaries in Australia and Jordan, along with the UK trading subsidiary, are wholly owned by the charity.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

The Society for the Protection of Animals Abroad (Australia) Limited was established in February 2017 in order to promote the charity’s fundraising programmes in that country, while the UK trading subsidiary sells merchandise on behalf of SPANA and gift aids its profits back to the charity.

SPANA restructured its operations in Jordan, which included closing our two subsidiaries. One was closed in 2019 and the process of the remaining subsidiary being liquidated commenced in early 2020. This remains ongoing. No material adjustments have arisen as a result of these actions. In future, our work in Jordan will be operated through partner organisations.

Details of related party transactions are shown in note 15 of the accounts.

Governing document

SPANA is a voluntary organisation and a registered charity founded in England in 1923. It is a company limited by guarantee and not having a share capital. It is governed by its Memorandum and Articles of Association, managed by an elected Board and funded by voluntary donations from its members and supporters around the world, including the countries in which SPANA operates.

Charity

SPANA is a charitable company limited by guarantee, registered with the Charity Commission in England and Wales (registered number 209015).

Public benefit

The Trustees have referred to the Charity Commission’s published guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, as required by the Charities Act 2011, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Our objectives are to prevent unnecessary suffering to animals and neglect of their bodily needs.

The Board considers that strategies, aims and activities as described above are for the public benefit, which is fundamental in undertaking current activities, assessing future activities and measuring delivered outcomes.

The content of this report, as well as the charity’s Annual Review and our website, provides detail of the activities undertaken by the charity for public benefit.

Members

The number of members at 31 December 2021 is 110 (2020: 114) and their liability on a liquidation is limited to £1 each. All members have full voting rights under the charity's Articles of Association.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

The Trustees

SPANA’s Board of Trustees comprised 11 members of the charity on 31 December 2021 (see page 19). It may have up to 14 members and not less than five members. The Board, which comprises Trustees who must be members of the company, meet in formal sessions four times per annum and at that time consider and decide upon:

Contractual and other operational issues that fall outside the routine management scope are dealt with on a day-to-day basis by the Senior Leadership Team.

Appointment of Trustees, induction and training

With regards to the operation of the Board itself, each position on the Board of Trustees is identified according to the specialisation which its incumbent should have, in order to discharge the duties of the particular role. Once appointed, Trustees complete an induction programme to acquire knowledge of SPANA’s activities and the personnel involved. They are also invited to participate in such formal training and seminars as are appropriate (e.g. the legal dimension to being a Trustee and the role of the Trustee in the management of the charity’s investments).

Appointment of members to the Board is through election by the membership.

The Board reviews regularly the balance of skills and experience required for the successful governance of the charity.

Key management personnel

The key management personnel are defined as the Senior Leadership Team, which comprised the Chief Executive; Director of Finance; Director of Fundraising and Marketing; and Director of Services. In 2022 this team has been restructured and now comprises: the Chief Executive; Director of Global Programmes; Director of Global Animal Welfare; Director of Global Fundraising, Marketing and Communications; and Director of Global Resources. The directors are responsible for managing their respective departments.

The remuneration of the Senior Leadership Team is reviewed by periodic benchmarking, carried out by an independent consultant, against equivalent positions in the charity and commercial sectors. This benchmarking is supervised independently of senior management by the People Committee.

The members of the senior management team are not directors of the charity under company law.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Global operations

With the exception of our activities in Australia and Jordan, which are described above, SPANA operates through a network of local NGOs and partner organisations abroad, on a grant basis where we fund their activities that meet our charitable objects. The results of these partners’ financial activities are therefore not included in the annual accounts.

Grant-making policy

SPANA operates through other partner organisations abroad. However, this is on an annual grant basis where we fund their activities that meet our charitable objects.

SPANA works with partners who deliver our work abroad. The criteria for partner selection includes services that will deliver projects that meet our charitable objects and are consistent with our five-year strategy.

Before a formal annual grant agreement is signed, all potential grantees are subject to a due diligence process based upon an assessment framework. A signed grant agreement is put in place with all partners, which covers joint ways of working, delivery criteria and reporting requirements. The results of these partners’ financial activities are not included in the annual accounts.

Charity Governance Code

The Charity Governance Code sets out the principles and recommended practice for good governance within the sector. The Charity Commission states that the code ‘…represents a standard of good governance practice to which all charities should aspire. We encourage all charities to read, follow and apply it proportionately to their circumstances.’

SPANA has reviewed its governance arrangements and is satisfied that these are consistent with the principles set out in the code. Our Board of Trustees has a clear understanding of the charity’s aims and values, and is confident the charity is successfully pursuing them thanks to the information and reports provided by SPANA’s Senior Leadership Team, staff, external partners, suppliers and auditors. In line with SPANA’s values, the charity is committed to acting with integrity and respect at all times. SPANA’s Trustees have been selected to ensure the Board has the broad mix of skills it needs to fulfil the requirements of the Charity Governance Code.

Safeguarding and whistleblowing

SPANA has always placed a high degree of importance on safeguarding issues and, in 2019, we launched a major review of all aspects of safeguarding, both in the UK and in the countries in which we operate abroad. Following the review, in 2019 we embarked on delivering a training programme to our staff members abroad about safeguarding and the role that they have to play to ensure that safeguarding remains a key focus of everyone who works for SPANA.

A further review was started in late 2021 and this review will create a number of actions to be taken in 2022 which will further enhance the approach SPANA takes towards safeguarding.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Global Fundraising, Marketing and Communications

SPANA’s Global Fundraising, Marketing and Communications department comprises four core teams:

The Global Fundraising, Marketing and Communications department’s key strategic objective is to maximise awareness, support and net voluntary income for SPANA, while delivering a strong return on investment from our activities. SPANA’s fundraising, marketing and communications strategy is delivered though a fully integrated, multi-channel, values-based and insight-driven fundraising, marketing and communications programme that aims to develop brand awareness, supporter satisfaction and donor loyalty in support of our income generation work. Our aim is to deliver ambitious but achievable targets, based on market insight and evidence, donor knowledge and data analysis.

As part of our strategy, all fundraising, marketing and communications staff are committed to exercising SPANA’s values in their work, acting collaboratively and with integrity and respect for our supporters at all times, while always striving for excellence. By acting with integrity and respect, we aim to build supporter satisfaction, trust and loyalty.

In 2021, our fundraising, marketing and communications programme aimed to maximise awareness, support and net income for the charity, while keeping programme costs below pre-2020 levels. Our key strategic priorities for the year included building the loyalty and regular giving of our supporters; developing our use of social media to convert our audience of ‘followers’ into active donors; piloting the digital acquisition of legacy pledges from members of the public who are not active SPANA supporters; and building SPANA’s position as the ‘voice of working animals’ in the media.

The focused pursuit of our strategic objectives, coupled with the continued generosity of our supporters, made 2021 SPANA’s second-best-ever year in voluntary income terms. Meanwhile, prompted awareness of the SPANA brand, as measured by independent brand tracking organisation nfpSynergy Research, reached a record 12 per cent in October 2021 and averaged at 10 per cent throughout the year – up from an average prompted awareness of 8.5 per cent in 2020.

Key successes of the year included the update and relaunch of our ‘Stable Sponsor’ regular giving product, which supported the growth of our regular giving programme; continued strong performance of our donor marketing programme, with November’s Mali Appeal emerging as the highest grossing Winter Appeal since 2014; and the continued growth of our Australian fundraising programme, which yielded record income. We also continued to build on the strong results of our legacy marketing programme with a legacy mailing to supporters, further promotion of legacies across our publications and website, and increased use of digital channels to acquire legacy pledges and enquiries from new supporters.

Our UK donor base comprised 36,823 individuals and organisations in 2021 – our second-highest performance since 2016, but down from 2020’s 38,297. Our active Australian donor base comprised 6,573 donors – a 6 per cent increase on 2020 (6,212).

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

2021 was a similarly successful year for our awareness raising activities. The charity successfully maintained a social media audience of more than 390,000 followers during the year (including 364,091 on Facebook), even as we developed our use of social media platforms to support fundraising and organisational objectives. Meanwhile, our PR activity generated 822 items of national, local and online media coverage in 2021, across titles including the Daily Express, Daily Star, Daily Mirror, Metro, The Sun, The Independent, Horse and Hound, and MSN.com. In line with our PR strategy, all coverage focused firmly on drawing attention to the plight of working animals and the vital work of SPANA in supporting them. Key drivers for PR coverage in 2021 included a PR story highlighting the impact of climate change on working animals, which ran in the run-up to the COP26 climate change conference; PR activity themed around SPANA’s vaccination work; and a PR feature about SPANA’s work in Mali. Our total volume of PR coverage in 2021 was 8 per cent up on 2020 and 2019.

Fundraising and marketing practices

SPANA works to ensure all elements of its fundraising and marketing programme (including activities performed on its behalf by third parties) fully comply with all statutory regulations. The charity is an organisational member of the UK’s leading fundraising bodies, the Chartered Institute of Fundraising and the Fundraising Regulator, plus the third sector communications organisation, CharityComms. Our Australian fundraising programme is similarly regulated by the Fundraising Institute of Australia (FIA).

As part of its GDPR-compliant data protection policy, SPANA ensures all fundraising and marketing materials have a clear opt-out process (allowing supporters to choose not to receive further communication from the charity) and any concerns relating to members of the public our supporter engagement team talk to are recorded appropriately.

In addition to meeting all legal requirements, SPANA’s fundraising, marketing and communications programme is enhanced by its commitment to SPANA values, particularly the programme’s focus on acting with integrity and delivering the best possible supporter experience. Our fundraising staff also fully adhere to the Code of Fundraising Practice in regards to vulnerable supporters, and will not accept donations from individuals identified to be vulnerable. We also deliberately exclude activities that might be intrusive or problematic for vulnerable people, such as door-to-door or face-to-face fundraising.

Throughout 2021, the charity continued to operate our fundraising, marketing and communications programme remotely, with all staff working from home while our postal mail to was redirected to a trusted mailing house. Phone calls to our office were redirected to our home-based staff from May 2021.

All complaints about our fundraising, marketing and communications programme are responded to individually and help inform our approach to future activities. In 2021, the charity recorded 198 complaints, up from 179 in 2020 but down from 233 in 2019. The majority of these (107) concerned mailing and fulfilment issues relating to our Happy Hooves retail programme. The other most frequent sources of complaint were “ignored mailing requests” (24) and “website donation issues” (15); the latter of which should now be largely resolved by 2021 development work on the SPANA website. 42 complaints concerned aspects of our Direct Mail appeals, representing less than 0.1 per cent of the volume of our mailings. All complaints were ultimately resolved by SPANA.

All third-party contractors working on behalf of SPANA are asked to adhere to all statutory regulations, as well as SPANA’s own best practice guidelines. The charity also monitors fundraising activities conducted on its behalf through various means. For example, our Direct Mail programme is monitored by SPANA staff who are included in our mailing lists and receive the same appeals as our supporters.

SPANA is unaware of any failure, either by the organisation or any third parties operating on its behalf, to comply with any fundraising or marketing regulations or standards during 2021.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

REFERENCE AND ADMINISTRATIVE DETAILS

President

The Rt Hon The Lord de Mauley TD FCA

Vice Presidents

Professor D Knottenbelt OBE, BVM&S, DVM Dip ECEIM, MRCVS The Lady Slynn of Hadley SRN

Members of the Board of Trustees and Directors

Dr M-L Hughes BSc (Hons) MBA PhD (Chair) (1) (3) – appointed as Chair 26 February 2021 Mr R Greenhalgh MA FRSA – resigned as Chair and Trustee 19 February 2021 Mr G R H Helmer BSc (Hons) FCA (Deputy Chair – appointed 26 February 2021) (Hon Treasurer) (1) (3) Ms M Blagescu MA (2) (3)

Dr J Boyd BSc (Hons) MSc PhD PGCHE FHEA MRSB (2)

Ms M S Davies BA (Hons) MCIPD – appointed as Trustee 28 September 2021 (3) Ms I D P Dos Santos BSc (Hons) BVetMed FRCVS – appointed as Trustee 15 December 2021 (4) Mr A J W Firby BA (Hons) MSc Chartered FCIPD – appointed as Trustee 15 December 2021 (4) Mr R Gethen Smith BEng (Hons) MA (4) Ms M Liszewski BSc MSc (2) Mr G Parker BSc (1) Ms M Saghbini MA – resigned as Trustee 13 July 2021 Miss S Shanks BVSc MPH MFPH MRCVS (2)

The numbers above indicate which trustees are also members of the following committees:

Chief Executive:

Ms Linda Edwards – from 31 August 2021 Mr Paul Sylva MBA FCA (Acting) – 1 January to 30 August 2021

Director of Global Fundraising, Marketing and Communications:

Mr David Bassom BSc (Hons) MFIA

Director of Services:

Dr Ben Sturgeon BSc BVM&S Cert E.P. Cert E.S.M. BAEDT MRCVS – resigned 25 February 2022

Director of Finance:

Ms Denise Locke FCCA (Acting) – 1 January to 30 August 2021 Mr Paul Sylva MBA FCA – from 31 August 2021; resigned 18 March 2022

Director of Global Resources

Ms Gita Patel BSc (Hons) FCCA – from 3 May 2022

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Company number:

558085

Charity number: 209015

Registered name:

The Society for the Protection of Animals Abroad

Also known as SPANA

Registered Office:

55 Ludgate Hill London EC4M 7JW

Website:

www.spana.org

Auditor:

Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW

Investment Manager:

Smith & Williamson Investment Management LLP 25 Moorgate London EC2R 6AY

Bankers:

CAF Bank Limited P O Box 289 West Malling, Kent ME19 4TA

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

STATEMENT OF THE BOARD’S RESPONSIBLITIES

The Board is responsible for preparing the Report of the Board and the financial statements in accordance with applicable law and regulations.

Company law requires the Board, as directors and Trustees, to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

Under company law, the Board must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of its result for that period. In preparing these financial statements, the Board is required to:

The Board is responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Board is aware:

The Board is responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

A resolution to re-appoint Crowe U.K. LLP will be presented at the Annual General Meeting.

The Trustees' annual report, which includes the strategic report, was approved on 20 May 2022 and signed on their behalf by:

Dr Mary-Lorraine Hughes Chair of Trustees

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Independent Auditor’s Report to the Members of The Society for the Protection of Animals Abroad

Opinion

We have audited the financial statements of The Society for the Protection of Animals Abroad (the “charitable company”) and its subsidiaries (the “group”) for the year ended 31 December 2021 which comprise the Consolidated Statement of Financial Activities, Consolidated and Society Balance Sheets, Consolidated Statement of Cash Flows, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2021

determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were compliance with the requirements of the Fundraising Regulator, Veterinary Service Regulations, and General Data Protection Regulation (GDPR). We also considered compliance with local legislation for the group’s overseas operating segments.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of donation, legacy, investment and other income, authorisation and approval of payments to overseas branches, partners and other non-UK entities and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance and Audit Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola May

Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor

London

Date: 6 June 2022

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Consolidated statement of financial activities

(Incorporating income and expenditure account) For the year ended 31 December 2021

(Incorporating income and expenditure account)
For theyear ended 31 December 2021
Notes
Income from
Donations
2(d)
Legacies
2(d)
Trusts
2(d)
Trading activities
3
Investment income
2(d)
Other income
Total income
Expenditure on
Raising funds
Cost of raising funds
5(a)
Fundraising trading: cost of goods sold
Investment management costs
8(b)
Charitable activities
Veterinary activities
5(b),(c)
Educational activities
5(b),(c)
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Funds brought forward at 1 January 2021
Funds carried forward at 31 December 2021		 £
Unrestricted
Funds		 Restricted
Funds		 Total 2021
£
3,761,165
4,978,689
173,205
74,010
126,733
109,002
9,222,804
2,491,001
32,723
50,013
2,573,737
3,913,225
1,412,115
5,325,340
7,899,077
801,673
2,125,400
2,125,400
11,025,934
13,151,334		 Total 2020
£
3,765,359
5,541,710
232,099
86,391
140,655
251,173
3,657,085
4,978,689
83,756
74,010
126,733
109,002
9,029,275
2,491,001
32,723
50,013
2,573,737
3,665,317
1,406,745
5,072,062
7,645,799
801,673
2,185,149
2,185,149
10,716,917
12,902,066		 104,080
-
89,449
-
-
-
193,529
-
-
-
-
247,908
5,370
253,278
253,278
-
(59,749)
(59,749)
309,017
249,268
10,017,387
2,642,343
66,715
45,247
2,754,305
3,733,535
1,472,174
5,205,709
7,960,014
(218,164)
1,839,209
1,839,209
9,186,725
11,025,934

All the above amounts relate to continuing activities. All gains/losses in the year are shown above. The notes on pages 28 to 43 form part of these financial statements.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Consolidated balance sheets as at 31 December 2021

Notes
Fixed assets
Tangible assets
7(a)
Intangible assets
7(b)
Investments
8(a)
Current assets
Stock
Debtors
9
Cash at bank and in hand
Creditors: amounts due within one year
10
Net current assets
Net assets
13
Represented by:
Unrestricted funds
General fund
Designated funds
11
Total unrestricted funds
Restricted funds
12
Total funds		 2021
2020
£
£
1,182,477
1,220,169
78,792
62,840
7,256,940
6,380,948
8,518,209
7,663,957
8,859
6,013
748,572
604,012
4,335,335
3,154,233
5,092,766
3,764,258
(459,641)
(402,281)
4,633,125
3,361,977
13,151,334
11,025,934
9,984,251
9,433,908
2,917,815
1,283,009
12,902,066
10,716,917
249,268
309,017
13,151,334
11,025,934
Group		 2021
2020
£
£
1,182,477
1,220,169
78,792
62,840
7,256,941
6,380,949
8,518,210
7,663,958
-
-
944,739
1,087,687
4,066,676
2,773,372
5,011,415
3,861,059
(425,119)
(356,752)
4,586,296
3,504,307
13,104,506
11,168,265
9,937,423
9,576,239
2,917,815
1,283,009
12,855,238
10,859,248
249,268
309,017
13,104,506
11,168,265
Society		 2021
2020
£
£
1,182,477
1,220,169
78,792
62,840
7,256,941
6,380,949
8,518,210
7,663,958
-
-
944,739
1,087,687
4,066,676
2,773,372
5,011,415
3,861,059
(425,119)
(356,752)
4,586,296
3,504,307
13,104,506
11,168,265
9,937,423
9,576,239
2,917,815
1,283,009
12,855,238
10,859,248
249,268
309,017
13,104,506
11,168,265
Society
7,663,958
-
1,087,687
2,773,372
3,861,059
(356,752)
3,504,307
11,168,265
9,576,239
1,283,009
10,859,248
309,017
11,168,265

The Society made a profit of £1,936,241 (2020 profit of £1,814,660)

Approved by the Council and authorised for issue on 20 May 2022 and signed on its behalf by:

M-L Hughes Chair

Gavin Helmer

Deputy Chair & Treasurer

The notes on pages 28 to 43 form part of these financial statements.

Small company provisions

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Company Number: 558085

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Consolidated statement of cash flows

For the year ended 31 December 2021

Cash flows form operating activities
Cash flow from investing activities
Dividends & Interest from Investments
(Purchase)/Disposal of Tangible Assets
Purchase of Intangible Assets
Purchase of Investments
Net Cash provided by Investing Activities
Change in Cash & Equivalents in the Reporting Period
Cash & Equivalents at start of Reporting Period
Cash & Cash equivalents and Net Debt at end of Reporting Period
Net Movement of Funds per the SOFA
Depreciation
(Gains)/losses on listed investments
(Gains)/losses on investments
Dividends & Interest from Investments
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors		 2021
£
1,161,919
126,643
8,858
(39,688)
(76,630)
19,183
1,181,102
3,154,233
4,335,335
4,335,335
2,125,400
58,700
(799,362)
(6,130)
(126,643)
(2,846)
(144,560)
57,360
1,161,919		 2020
£
1,978,345
142,276
(4,944)
0
(97,029)
40,303
2,018,648
1,135,585
3,154,233
1,839,209
64,528
210,485
0
(142,276)
7,760
39,348
(40,709)
1,978,345

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

1 Company information

The Society is a registered charity and as such is a non-profit making organisation, limited by guarantee and therefore with no share capital. The number of members at 31 December 2021 is 110 (2020: 120) and their liability on a liquidation is limited to £1 each.

The Society is registered in England and Wales under company number 558085 and its registered office is 55 Ludgate Hill, London EC4M 7JW. The Society is a Public Benefit Entity registered with the Charity Commission under number 209015.

2 Accounting policies

(a) Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, which are described in this note 2, Trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. Areas where accounting judgements and estimates may impact the accounts are in the assessment of the impairment of assets and the remaining useful life of assets (note 2(g)) and assumptions relating to income recognition and cut-off (note 2(d)). The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the presentation of the financial statements are as follows:

(b) Basis of accounting

The financial statements have been prepared on a line by line basis after eliminating intergroup transactions and balances. The results of the Society and its subsidiaries; their registered numbers are:

• The Society for the Protection of Animals Abroad/Jordan (registered in Jordan) is also no longer included in consolidation as the subsidiary is being liquidated and the accounts for 2021 are not available. The trustees are satisfied that the transactions and balances arising in the year are not material to the financial statements and results have been excluded on that basis.

SPANA funds other entities and partners overseas, however these entities are not included in the consolidated results as SPANA doesn't have sufficient financial control.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the 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 (FRS102) - effective 1 January 2015.

2 Accounting policies (continued)

The functional currency of SPANA and its subsidiary entities is considered to be GBP because that is the currency of the primary economic environment in which the group operates. The consolidated financial statements are also presented in GBP.

(c) Going concern

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Notes to the financial statements

For the year ended 31 December 2021

The ongoing pandemic has had a significant operational and financial impact on the charity and its activities in the UK and abroad.

Our activities have continued, though with some restrictions, throughout the crisis and action has been taken to ensure the safety of our employees and those we work with through remote working and social distancing. Key risks surrounding the pandemic have been incorporated into our risk management framework and are monitored regularly by the Trustees and Senior Leadership Team.

Our response to the crisis included:

A revised forecast has been prepared which considers expected performance up to December 2023. This exercise has considered sensitivities and scenario planning over key assumptions including fundraising income, staff costs and available reserves.

The planning performed around the impact of the pandemic and other issues, such as the potential impact of the conflict in Ukraine, the Cost of Living crisis and potential inflation increases, formed the basis for preparing for limited voluntary income growth by the charity.

Financial performance and cash flow are monitored regularly with a focus on liquidity and available free reserves being of central importance. As part of this oversight, there is ongoing assessment of fundraising and investment performance and the cash position to ensure SPANA retains sufficient headroom to fund day-to-day activities. Should performance fall below expectation, additional cost savings and contingencies have been identified to ensure the organisation can continue as a going concern.

The proceeds from the sale of the premises at John Street has increased cash reserves, as some of the proceeds will fund the purchase of a new, smaller and more modern office, while the remainder will provide additional funds to cover ongoing operations.

After consideration of the revised forecasts, sensitivity and scenario planning and the current level of available free reserves, trustees are satisfied that there are no material uncertainties around SPANA’s ability to continue as a going concern and it remains appropriate to prepare the accounts on that basis.

(d) Income

Donations and Trust Income are recognised when there is sufficient evidence of entitlement, probable receipt and where the amount is measurable. Accruals are made on a monthly basis for related Gift Aid where applicable.

Legacies subject to a life interest by another party will not be recognised. Pecuniary legacies will be recognised when the legacy is received or where there is sufficient evidence that receipt is probable. Residuary legacies are recognised at the earlier of cash received or notification of an interim distribution or estate accounts having been approved by the executors.

Investment income is accounted for on an accruals basis together with any income tax recoverable.

Government grants are recognised when the charity has complied with any conditions attaching to the grant and the grant will be received. The grant, in connection to the job retention scheme, has been reccognised in the period to which the underlying furloughed staff costs relate to. Included in other income is an amount of £0 (2020: £251,173) in respect of the Coronavirus Job Retention Scheme.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

2 Accounting policies (continued)

(e) Expenditure

All UK expenditure is recognised on an accruals basis.

UK expenditure has been allocated to costs of generating funds and charitable activities when clearly identified, or is otherwise apportioned to these categories, on the basis of staff time and utilisation.

Costs of generating funds comprises fundraising and publicity costs, cost of goods sold for fundraising purposes, investment management fees and an apportionment of head office overheads including governance costs.

Expenditure on charitable activities is split between the two main activities of SPANA, veterinary and education. Training and emergency are included within these two activities. It includes funding for overseas operations (recognised when monies are transferred) and grants to outreach and emergency projects (which are recognised when they are approved), as shown in note 6. It also includes support costs, including apportioned head office overheads and governance costs, representing the necessary and prudent overseeing of operations to ensure the effective use of charitable funds in meeting the Society's objectives in overseas countries.

The Society makes small grants for outreach projects, usually less than £10,000, to fund discrete animal welfare or education projects which are either not in a SPANA core-country or in an area served by the core-country project. The grants are usually for one year with the possible extension to a second year depending on progress in the first year. Emergency grants are made for projects where animals' lives are at risk through drought or other disasters.

Governance costs as shown in note 5(c) are those necessary for the proper compliance with statutory and constitutional requirements.

(f) Financial assets and liabilities

Financial assets and financial liabilities are recognised when SPANA becomes a party to the contractual provisions of the instrument. Additionally all financial assets and liabilities are classified according to the substance of the contractual arrangements entered into. Financial assets and liabilities are initially measured at transaction price (including transaction costs) and are subsequently re-measured where applicable at amortised cost except for forward rate currency contracts which are subsequently measured at fair value with gains and losses recognised in the Statement of Financial Activities. Assets and liabilities held in foreign currency are translated to GBP at the balance sheet date at an appropriate year end exchange rate.

(f) Financial assets and liabilities (continued)

The Society enters into forward rate currency contracts to manage its exposure to fluctuations in exchange rates throughout the year. These contracts are recognised at fair value with gains or losses recognised in the Statement of Financial Activities.

The only assets held at fair value are the investments as detailed in note 8.

(g) Depreciation

Tangible and intangible fixed assets are stated at cost less depreciation. Depreciation is calculated to write off the cost of fixed assets, less residual values, over their expected useful lives, on a straight line basis, using the following periods:

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

2 Accounting policies (continued) Depreciation

Land is not depreciated.

Assets supplied to overseas partners are not depreciated, but are shown as expenditure.

Assets, whose cost is more than £1,000, purchased by the Society are capitalised. The assets purchased by the Society's overseas subsidiary and branch are fully depreciated in the year of acquisition in view of uncertainty of conditions overseas.

(h) Investments

Listed investments are valued at the mid-market price ruling at the balance sheet date which gives rise to unrealised gains/losses which are included in the Group Statement of Financial Activities. Realised gains/losses arising on the disposal of investments during the year are separately disclosed in the Group Statement of Financial Activities. Investments in subsidiaries are initially included at cost (see note 9e for further details about the valuation of the subsidiaries in Australia and Jordan).

Stocks are stated at the lower of cost and net realisable value.

(j) Funds

General funds are unrestricted funds which include buildings and equipment necessary for the proper functioning of the charity and other funds available for use at the discretion of the Trustees in furtherance of the Society's objectives.

Designated funds are set aside at the discretion of the Trustees for specific purposes. They would otherwise form part of the other general funds.

Restricted funds are the funds which are subject to specific restrictions as imposed by the donor or nature of the appeal.

3 Activities for generating funds 2021 2020
£ £
Sale of Merchandise 74,010 86,391

4 Legacies

The estimated value of residuary legacies, notified to SPANA prior to 31 December 2021 and expected to be received in future years, is £4.2 million (2020: £3.6 million). These legacies are not included in the financial statements as the amount cannot be quantified with reasonable certainty. This figure excludes life interest legacies, where the amounts due cannot be quantified with reasonable certainty.

5 Analysis of expenditure

Staff costs
Other direct costs
Governance costs
Other support costs
Depreciation		 2021
£
697,360
1,496,621
24,015
252,356
20,649		 2020
£
914,342
1,450,658
35,899
220,795
20,649
2,491,001 2,642,343

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

Analysis of expenditure (continued)

Botswana
Ethiopia
Jordan
Mali
Mauritania
Morocco
Myanmar
Tunisia
Zimbabwe
Outreach and Emergency		 Treatment of
sick animals
£
20,836
481,595
496,599
910,426
1,089,248
407,115
284,757
222,649		 Education
£
7,875
423,416
-
128,686
252,848
282,262
-
90,897
161,860
64,271		 2021
Total
£
28,711
905,011
-
625,285
1,163,274
1,371,510
-
498,012
446,617
286,920		 2020
Total
£
31,301
704,449
97,307
789,635
1,260,162
1,326,816
8,183
405,450
350,853
231,553
3,913,225 1,412,115 5,325,340 5,205,709

Details of outreach and emergency programmes are available from the Society's website www.spana.org

Treatment of
sick animals
Education
£
£
Direct funding for overseas projects
2,355,573
679,969
Grants payable for outreach funding
222,649
64,271
Staff costs
958,870
479,435
Governance costs
33,772
17,261
Other support costs
342,361
171,179
3,913,225
1,412,115
Net income/(expenditure) for the year is stated after:
Audit fees
Auditor's fee for non audit services
Audit fees for overseas subsidiaries (Pitcher Partners in Australia $16,000)
Depreciation
Trustees' expenses		 Treatment of
sick animals
£
2,355,573
222,649
958,870
33,772
342,361		 Education
£
679,969
64,271
479,435
17,261
171,179		 2021
Total
£
3,035,542
286,920
1,438,305
51,033
513,540		 2020
Total
£
2,579,521
231,553
1,885,830
82,443
426,362
3,913,225 1,412,115 5,325,340 5,205,709
2021
£
27,000
6,820
8,759
58,700
113		 2020
£
25,750
8,340
9,317
64,527
-

(d) Net income/(expenditure) for the year is stated after:

6 Expenditure includes:

enditure includes:
Staff costs and employees
Wages and salaries
Social Security costs
Pension costs (Note 14)
Other staff costs
Compensation payments for loss of office		 2021
2020
£
£
1,817,036
2,308,236
176,557
234,796
165,273
192,929
20,383
38,053
United Kingdom
2,179,249 2,774,014
- 115,070

Compensation payments for loss of office

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021 6 Expenditure includes: (continued)

2021
2020
No.
No.
Employees earning more than £60,000 p.a.
£60,000 - £70,000
2
2
£70,000 - £80,000
1
2
£80,000 - £90,000
-
1
£90,000 - £100,000
1
2
£100,000 - £110,000
1
-
£110,000 - £120,000
-
-
£120,000 - £130,000
-
-
£130,000 - £140,000
-
1
2021
2020
£
£
Pension contributions of £50,940 (2020: £65,882) were made for these employees.
50,940
65,882
Total remuneration and employee benefits of senior leadership team
379,573
728,456
In 2020 SPANA undertook an organisational restructure and several members of the senior leadership team were
affected. The amounts stated as remuneration and benefits for 2020 include payments in line with SPANA's obligations to
those employees on the termination of their employment.		 2021
No.
2
1
-
1
1
-
-
-
2021
£
50,940
379,573		 2020
No.
2
2
1
2
-
-
-
1
2020
£
65,882
728,456

The average monthly number of staff during the year was:

2021
2020
No.
42
51
United Kingdom		 2021
2020
No.
42
51
United Kingdom		 2021
2020
No.
Overseas		 2021
2020
No.
Overseas
42 51 - .

(c) Trustees' expenses and remuneration

Reimbursements to Trustees, and amounts paid on their behalf, were made to 1 (2020: 0) Trustee during the year for travel and other necessary costs incurred in the UK and overseas in connection with the work of the charity. Amounts paid on behalf of Trustees, including expenses reimbursed, during the year totalled £113 (2020: £0).

The Trustees received no remuneration for their services during the year (2020 : NIL).

The Trustees have not waived any expenses which they could have claimed (2020 : NIL).

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

7 Fixed assets

Cost:
1 January 2021
Additions
Disposals
31 December 2021
Depreciation:
1 January 2021
Charge for the year
Disposals
31 December 2021
Net book value:
31 December 2021
31 December 2020		 Freehold land
and buildings
£
1,559,589
-
-		 Computers
£
42,084
3,240
-
Furniture,
fittings and
equipment
£
19,320
-
(12,098)


Total
£
1,620,993
3,240
(12,098)
1,559,589 45,324 7,222 1,612,135
363,000
23,500
-		 29,130
9,406
-		 8,694
2,058
(6,130)		 400,824
34,964
(6,130)
386,500 38,536 4,622 429,658
1,173,089 6,788 2,600 1,182,477
1,196,589 12,954 10,626 1,220,169
Intangible Fixed Assets
Group and Society
Cost:
1 January 2021
Additions
31 December 2021
Depreciation:
1 January 2021
Charge for the year
31 December 2021
Net book value:
31 December 2021
31 December 2020		 Software &
Systems
£
95,483
-
Assets under
Construction
£
-
39,688
Total
£
95,483
39,688
95,483 39,688 135,171
32,643
23,736		 -
-		 32,643
23,736
56,379 - 56,379
39,104 39,688 78,792
62,840 - 62,840

Assets under construction comprise additional functionality being added to the finance system. The project was started in 2021 and was completed and in use within 2022. No depreciation charge was incurred in FY 2021.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

8 Investments

2021
2020
£
£
(a) Listed Investments (note 8b)
7,256,940
6,380,948
Investments in Subsidiary (note 8d, 8e, 8f)
-
-
7,256,940
6,380,948
(b) Listed Investments
Valuation at 1 January 2021
Funds withdrawn
Reinvested income
Management fees
Net investment gains/(losses) for the year
Valuation at 31 December 2021 (see (c) below)
(c) The valuation is made up of:
Investments dealt on a recognised stock exchange:
UK equities
UK fixed interest securities
Overseas equities
Cash
Alternative investments - hedge funds
Group		 2021
2020
£
£
(a) Listed Investments (note 8b)
7,256,940
6,380,948
Investments in Subsidiary (note 8d, 8e, 8f)
-
-
7,256,940
6,380,948
(b) Listed Investments
Valuation at 1 January 2021
Funds withdrawn
Reinvested income
Management fees
Net investment gains/(losses) for the year
Valuation at 31 December 2021 (see (c) below)
(c) The valuation is made up of:
Investments dealt on a recognised stock exchange:
UK equities
UK fixed interest securities
Overseas equities
Cash
Alternative investments - hedge funds
Group		 2021
2020
£
£
(a) Listed Investments (note 8b)
7,256,940
6,380,948
Investments in Subsidiary (note 8d, 8e, 8f)
-
-
7,256,940
6,380,948
(b) Listed Investments
Valuation at 1 January 2021
Funds withdrawn
Reinvested income
Management fees
Net investment gains/(losses) for the year
Valuation at 31 December 2021 (see (c) below)
(c) The valuation is made up of:
Investments dealt on a recognised stock exchange:
UK equities
UK fixed interest securities
Overseas equities
Cash
Alternative investments - hedge funds
Group		 2021
2020
£
£
7,256,940
6,380,948
1
1
Society		 2021
2020
£
£
7,256,940
6,380,948
1
1
Society
7,256,940 6,380,948 7,256,941 6,380,949
2021
£
6,380,948
-
126,643
(50,013)
799,362		 2020
£
6,494,404
142,276
(45,247)
(210,485)
7,256,940 6,380,948
2021
£
2,671,471
265,439
2,210,953
137,920
1,971,157		 2020
£
2,054,051
601,923
2,164,990
50,897
1,509,087
7,256,940 6,380,948

(d) The Society holds unlisted investments at a cost of £1 in the following subsidiary undertakings: United Kingdom

The Society holds unlisted investment
United Kingdom		 s at a cost of £1 in the followin g subsidiary unde rtakings:
Percentage of
Incorporated Principal Class of share capital
in activity shares held
SPANA Trading Limited England no Merchandise Ordinary £1 100%
5701201 sales

The results of SPANA Trading Limited, extracted from its audited financial statements, are summarised below:

Turnover
Administrative expenses
Profit on ordinary activities before and after taxation
Payment under Gift Aid
Retained profit for the year
Net assets		 2021
£
74,010
(54,723)		 2020
£
86,391
(66,716)
19,287
(19,287)		 19,675
(19,675)
- (0)
1 1

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

8 Investments (continued)

(e) Jordan

The Society for the Protection of Animals Abroad/Jordan was established in 2015, however liquidation began in 2020 and is ongoing. Going forward, SPANA will deliver services in Jordan through partner organisations. The value of the investment in this subsidiary in Jordan is the consolidated financial statements is nil in line with our accounting policy defined in note 2(b).

The summarised financial statements for this Jordan subsidiary are:

Percentage of
Incorporated
Principal		 Class of share capital
in activity shares held
The Society for the Protection of Animals Jordan Animal welfare Capital of 100%
and education JOD5,000
(£5,711)

The Society for the Protection of Animals/Jordan is being liquidated and the accounts for 2021 are not available. The trustees are satisfied that the abstractions and balances arising in the year are not material to the financial statements.

Turnover
Charitable and administrative expenses
Surplus/(deficit) on ordinary activities
Surplus/(deficit) for the year
Net assets
Including cash (unspent funds from the SPANA UK)		 2021
£
-
-		 2020
£
-
-
- -
- -
- -
- -

8 Investments (continued)

SPANA has a subsidiary in Australia. The subsidiary is a company limited by guarantee and the value of the investment in this subsidiary in Australia in the consolidated financial statements is nil in line with our accounting policy defined in note 2 (b). The summarised financial statements for the Australian subsidiary are:

Percentage of
Incorporated
Principal		 Class of share capital
in activity shares held
The Society for the Protection of Animals Australia Animal welfare Capital of 100%
Abroad (Australia) Limited and education AUD10 (£6)

The results of The Society for the Protection of Animals Abroad (Australia), extracted from its audited financial statements, are summarised below:

Turnover
Charitable and administrative expenses
Surplus/(deficit) on ordinary activities
Surplus/(deficit) for the year
Net assets
Including cash		 2021
£
588,520
(430,465)		 2020
£
300,543
(266,694)
158,055 33,849
158,055 33,849
19,810 (142,334)
199,423 293,126

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

Notes to the financial statements
For theyear ended 31 December 2021
9 Debtors
Group
Gift Aid and recoverable taxes
Other debtors
Prepayments and accrued income
Society
Gift Aid and recoverable taxes
Other debtors
Prepayments and accrued income
Amount due from subsidiary undertakings
10 Creditors: amounts falling due within one year
Group
Trade creditors
Other taxes and Social Security
Other creditors and accruals
Creditors: amounts falling due within one year (continued)
Society
Trade creditors
Other taxes and Social Security
Other creditors and accruals		 2021
£
50,938
17,386
680,248		 2020
£
50,821
410
552,781
748,572 604,012
2021
£
45,279
17,386
679,920
202,154		 2020
£
45,292
410
552,781
489,204
944,739 1,087,687
2021
£
162,550
85,037
212,054		 2020
£
112,428
99,364
190,489
459,641 402,281
2021
£
162,550
85,037
177,532		 2020
£
112,428
99,364
144,960
425,119 356,752

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

11 Reserves

Restricted funds
Unrestricted Funds
Designated funds
Fixed assets
Intangible assets
Premises
Global investment
General Funds
Total unrestricted funds
Total reserves		 Balance 1
January 2021
Net income or
(expenditure)
Transfers
Gains /
(losses)
Balance 31
December
2021
£
£
£
£
£
309,017
(59,749)
-
249,268
1,220,169
(8,857)
(1,201,923)
-
9,389
62,840
39,688
(23,736)
78,792
2,000,000
2,000,000
829,634
829,634
1,283,009
30,831
1,603,975
-
2,917,815
9,433,908
1,352,645
(1,603,975)
801,673
9,984,251
10,716,917
1,383,476
-
801,673
12,902,066
11,025,934
1,323,727
-
801,673
13,151,334

A description of the reserves held at 31 December 2021 is:

Restricted funds are those where the donor has stipulated they be used for a specific purpose and there may be a time lag between receipt and when they are spent. For further details, see note 12. The fixed assets designated fund represents the net book value of assets held to allow the Society to carry out its work effectively. Because this reserve comprises fixed assets, it is not possible to use them elsewhere within the Society.

The Premises designated fund represents funds set aside for investment in new UK premises for the organisation.

The Global Investment designated fund represents funds set aside for investment in the organisation, globally, to develop a sustainable strategy and to develop our infrastructure and our people.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

Notes to the financial statements
For theyear ended 31 December 2021
12 Restricted funds
Ethiopia - Treat horses with EZL
Mali Tetanus Appeal
Emergency response unit
Zimbabwe
Minilabs
Mali Book
Treating eye injuries and diseases
Online Learning Portal
Mali Segou Centre
Ending Donkey Skins Trade
Mali Mobile Clinic
Ethiopia Gondar
X ray and ultrasound machines
Small Funds under £5,000		 Balance 1
January 2021
Income
Expenditure
£
£
£
6,640
-
(6,640)
35,378
(2,073)
33,947
-
-
0
50,000
(50,000)
20,214
-
-
16,485
-
(5,370)
60,440
200
(22,296)
11,286
-
(3,120)
0
73,979
(22,728)
28,885
563
(6,700)
0
13,890
(13,890)
55,072
25,098
(80,170)
7,120
23
33,550
29,776
(40,291)		 Balance 31
December
2021
£
-
33,305
33,947
-
20,214
11,115
38,344
8,166
51,251
22,748
-
-
7,143
23,035
309,017
193,529
(253,278)		 249,268

The above restricted funds are subject to specific conditions imposed by the donor, the contract or the appeal made by SPANA for projects being undertaken.

Projects to use the restricted funds for Emergency response unit and Minilabs were not in scope in 2021.

The funds with a balance carried forward as at 31 December 2021 are to be used for the following purposes:

Ethiopia - Treat horses with EZL Mali Tetanus Appeal Emergency response unit Zimbabwe Minilabs Mali Book Treating eye injuries and diseases Online Learning Portal Mali Segou Centre Ending donkey skins trade Mali Mobile Clinic Ethiopia Gondar X ray and ultrasound machines

Investigation into and treating epizootic lymphangitis Investigation into and vaccination against tetanus in Mali Funding to establish emergency response unit Zimbabwe programmes Provide basic laboratory facilities in mobile clinics Production of educational materials in Mail Funding for eye pathology For online veterinary training Setting up and running programmes out of Segou To support work and advocacy on ending the trade in donkey skins Running mobile clinics in Mali Costs of running activities in Gondar To purchase veterinary diagnostic equipment

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

13 Analysis of net assets - group

s to the financial statements
year ended 31 December 2021
alysis of net assets - group
Investments
Fixed assets
Current assets
Current liabilities
Total		 Unrestricted
funds
£
7,256,940
1,261,269
4,843,498
(459,641)		 Restricted
funds
£
-
-
249,268
-		 Total 2021
£
7,256,940
1,261,269
5,092,766
(459,641)		 Total 2020
£
6,380,948
1,283,009
3,764,258
(402,281)
12,902,066 249,268 13,151,334 11,025,934

14 Pension costs

The Society does not operate a company pension scheme. The pension costs (note 6(a)) represent contributions paid by the Society to employees' personal pension plans in the UK during the year. This complies with Stakeholder pension requirements. There are no pension schemes for overseas staff.

15 Transactions with related parties

Transactions with related parties
Donations received from trustees and senior management
SPANA Trading Limited
Management fee charged by the Society to SPANA Trading Limited
Amounts due to Society
Profit from activities in SPANA Trading Limited
SPANA Australia Limited
Expenditure paid on behalf of SPANA Australia
Amounts due to Society
SPANA Jordan
Expenditure paid on behalf of SPANA Jordan
Amounts due to Society
Value of funds sent to Jordan from UK
SPANA had part of its portfolio invested with BlackRock Asset Management.
MS H Winter, one of the trustees (resigned 22 September 2020), was employed by
BlackRock Investment Managers Limited and had no influence on the investment.		 2021
£
18,879
22,000
78,094
19,287		 2020
£
11,689
-
93,746
19,675
119,381
-
124,060
-
-
-
-		 113,421
-
395,458
-
-
-
420,413

16 Post balance sheet events

At the balance sheet date SPANA had exchanged contracts on the sale of its UK premises. The sale was not certain until the date of completion when legal title and rights over the property were transferred to the buyer. The sale value of the property was £3.3m with SPANA recording a net gain of £2.08m as a result of this transaction.

For the working animals of the world

40

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

17 Consolidated statement of financial activities

(Incorporating income and expenditure account) For the year ended 31 December 2020 Restated

(Incorporating income and expenditure account)
For the year ended 31 December 2020
Restated
Notes
Income from
Donations
2(d)
Legacies
2(d)
Trusts
2(d)
Trading activities
3
Investment income
2(d)
Other income
Total income
Expenditure on
Raising funds
Cost of raising funds
5(a)
Fundraising trading: cost of goods sold
Investment management costs
Charitable activities
Veterinary activities
5(b),(c)
Educational activities
5(b),(c)
Total expenditure
Operating surplus/(deficit) for the year
Net gains on investments
Sale of assets
Net gains on forward foreign exchange contracts
Net income for the year
Net movement in funds
Reconciliation of funds
Funds brought forward at 1 January 2020 as previously stated
Prior year adjustment
Funds brought forward at 1 January 2020 as restated
Funds carried forward at 31 December 2021		 Funds
£
Unrestricted		 £
Restricted
Funds		 Total 2020
£		 Total 2019
£
3,524,944
3,882,511
331,715
55,095
167,640
-
3,655,412
5,541,710
114,821
86,391
140,655
251,173		 109,947
-
117,278
-
-
-
227,225
-
-
-
-
370,308
1,260
371,568
371,568
(144,343)
-
-
(144,343)
(144,343)
453,360
-
453,360
309,017		 3,765,359
5,541,710
232,099
86,391
140,655
251,173
9,790,162 10,017,387 7,961,905
2,642,343
66,715
45,247		 2,642,343
66,715
45,247		 3,347,041
36,481
79,326
2,754,305 2,754,305 3,462,848
3,363,227
1,470,914		 3,733,535
1,472,174		 4,459,624
1,928,609
4,834,141 5,205,709 6,388,233
7,588,447 7,960,014 9,851,081
2,201,716
(218,164)
-
-		 2,057,373
(218,164)
-
-		 (1,889,176)
1,072,317
181,260
-
1,983,552 1,839,209
-		 (635,599)
1,983,552
9,720,033
(986,668)
8,733,365		 1,839,209
10,173,393
(986,668)
9,186,725		 (635,599)
10,032,887
(210,563)
9,822,324
10,716,917 11,025,934 9,186,725

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41

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

18 Prior Year Analysis of net assets - group Restated

or Year Analysis of net assets - group
tated
Fixed assets
Investments
Current assets
Current liabilities
Total		 Unrestricted
funds
£
1,283,009
6,380,948
3,455,241
(402,281)		 Restricted
funds
£
-
-
309,017
-		 Total 2020
£
1,283,009
6,380,948
3,764,258
(402,281)
10,716,917 309,017 11,025,934

19 Prior Year Reserves

Restricted funds
Unrestricted Funds
Designated funds
Fixed assets
Intangible assets
Revaluation reserve
General Funds
Total unrestricted funds
Total reserves		 Balance 1
January 2020
Net income
or
(expenditure)
Transfers
Gains /
(losses)
Balance 31
December
2020
£
£
£
£
£
453,360
(144,343)
-
-
309,017
1,256,016
4,945
(40,792)
-
1,220,169
86,576
-
(23,736)
62,840
1,342,592
4,945
(64,528)
-
1,283,009
7,390,773
2,196,771
64,528
(218,164)
9,433,908
8,733,365
2,201,716
-
(218,164)
10,716,917
9,186,725
2,057,373
-
(218,164)
11,025,934

A description of the reserves held at 31 December 2020 is:

Restricted funds are those where the donor has stipulated they be used for a specific purpose and there may be a time lag between receipt and when they are spent. For further details, see note 12. The fixed assets designated fund represents the net book value of assets held to allow the Society to carry out its work effectively. Because this reserve comprises fixed assets, it is not possible to use them elsewhere within the Society.

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42

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2021

or Year Restricted funds (continued)
Outreach Funding
Re-Hydration/Turjkana
Ethiopia - Treat horses with EZL
Mali Tetanus Appeal
Emergency response unit
Emergency Fund
Zimbabwe Reflectors
Zimbabwe
Minilabs
Mali Book
Treating eye injuries and diseases
Online Learning Portal
The Diana Hulme Education Fund
Ending Donkey Skins Trade
Mali Mobile Clinic
Ethiopia Gondar
Vet care for donkeys Mauritania
X ray and ultrasound machines
Food for Caleche Horses
Zimbabwe CPD
Small Funds under £5,000		 Balance 1
January 2020
Income
Expenditure
Balance 31
December
2020
£
£
£
£
26,737
2,333
(29,070)
-
46,897
88
(46,985)
-
23,755
250
(17,365)
6,640
35,378
35,378
33,947
33,947
14,929
8,378
(23,307)
0
16,596
25
(13,951)
2,670
61,803
100,000
(161,803)
-
20,214
20,214
16,485
0
16,485
58,596
1,844
60,440
12,546
(1,260)
11,286
5,100
1,250
6,350
35,816
588
(7,519)
28,885
0
13,250
(13,250)
-
0
62,500
(7,428)
55,072
0
10,000
(10,000)
-
7,120
-
0
7,120
0
10,978
(8,009)
2,969
15,000
-
(10,248)
4,752
22,441
15,741
(21,373)
16,809
453,360
227,225
(371,568)
309,017

Prior Year Restricted funds (continued)

The funds with a balance carried forward as at 31 December 2020 are to be used for the following purposes:

Outreach Funding Re-Hydration/Turkana Ethiopia - Treat horses with EZL Mali Tetanus Appeal Emergency response unit Emergency Fund Zimbabwe Reflectors Zimbabwe Minilabs Mali Book Treating eye injuries and diseases Online Learning Portal The Diana Hulme Education Fund Ending donkey skins trade Mali Mobile Clinic Ethiopia Gondar Vet care for donkeys Mauritania X ray and ultrasound machines Food for Caleche Horses Zimbabwe CPD

To support a range of outreach programs Emergency solar powered well in Turkana, Kenya Investigation into and treating epizootic lymphangitis Investigation into and vaccination against tetanus in Mali Funding to establish emergency response unit Funds raised for different activities which enable SPANA to Animal reflectors to prevent road accidents Zimbabwe programmes Provide basic laboratory facilities in mobile clinics Production of educational materials in Mail Funding for eye pathology For online veterinary training Memorial education fund To support work and advocacy on ending the trade in donkey skins Running mobile clinics in Mali Costs of running activities in Gondar The costs of veterinary treatment for donkeys in Mauritania To purchase veterinary diagnostic equipment To purchase and provide food for caleche horses For ongoing development of professionals in Zimbabwe

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43