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2022-12-31-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)

Financial statements 31 December 2022

For the working animals of the world

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Contents Pages
Report by the Board of Trustees 1–22
Independent auditor’s report 23–25
Consolidated statement of financial activities 26
Consolidated and charity balance sheet 27
Consolidated statement of cash flows 28
Notes to the financial statements 29–44

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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 2022

INTRODUCTION

Foreword from our Chair of Trustees

Following two exceptionally difficult years dominated by the global coronavirus (Covid-19) pandemic, the challenges faced by working animals and their owners only continued to grow in 2022. The unique difficulties of the pandemic made way for new hardships, including the impact of increased global inequality and the cost-of-living crisis, local civil unrest, and environmental disasters such as drought in East Africa and flooding in West Africa.

All of these issues have made life for working animals harder than ever – and meant the need for SPANA’s help has never been greater.

Fortunately, due to the ongoing kindness of our supporters, our charity was able to improve the lives of more than 300,000 working animals across 23 countries in 2022. Operating through our global network of centres, mobile clinics and local projects, we continued to ensure working animals received the veterinary treatment and care they needed, and further supported working animal welfare through the training of owners, local communities and veterinary professionals in good animal care, and the teaching of children about animal welfare.

We were also able to be there for working animals in times of extreme need. Our emergency projects provided lifesaving feed, veterinary treatment and support to working animals at most risk in Indonesia, India and Uganda – delivering much-needed relief to working animals and their owners.

Despite the challenges of the year – especially at a time when SPANA is facing increased competition for funds – I am pleased with the progress the charity made in 2022 and its continued commitment to improving the welfare of working animals around the world.

On behalf of the Board of Trustees, I would like to express my gratitude to, and appreciation of, SPANA’s teams in the various and varied countries in which we operate: they work so diligently and often in extremely difficult circumstances. Their vital work is aided by our dedicated support team in the UK, led by our Chief Executive and Senior Leadership Team. They have all worked effectively together, not only to record a strong financial year, but also to achieve so much during a year of great need.

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 2022

Introduction from our Chief Executive

2022 was my first full year as Chief Executive of SPANA, and I am proud of everything the charity was able to achieve for working animals.

Despite the new and ongoing challenges brought by the year, SPANA continued to support the welfare of working animals in need throughout 2022. We also advanced our work with several new initiatives, including our involvement in major new animal welfare education projects being run by the governments of Mauritania and Zimbabwe. These will ensure children – the next generation of animal owners and community leaders – learn about animal welfare and will help create a brighter future for working animals.

The impact of our work was publicly acknowledged in 2022 by the naming of a street in Mauritania as Rue SPANA – SPANA Road. I was honoured to attend the Road’s official opening ceremony in Nouakchott, alongside local officials, community leaders and some of the owners we have supported. It was a truly historic moment for the charity.

In addition to continuing our key work in 2022, we also began developing plans for the charity’s future. This resulted in our new organisational strategy – Transforming the Lives of Working Animals: SPANA Strategy 2023-27. Launched during our 100th year, our new strategy explains how SPANA will build on its work with new partnerships and innovative projects and activities. Through this, SPANA will reach more animals, owners, professionals and children than ever before, and will make a lasting and sustainable change in working animal welfare.

I would like to thank SPANA’s supporters for their continued kindness. Everything we achieved in 2022 was only possible due to their generosity and commitment to working animal welfare.

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 2022

STRATEGIC REPORT

Highlights from 2022

In 2022, the charity continued to successfully deliver the SPANA work programme. Our key achievements included:

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About SPANA

Around the world, a huge but largely overlooked workforce of more than 200 million donkeys, mules, horses, elephants, camels and oxen loyally support more than 600 million people. Working animals are the tractors, trucks and taxis of their communities – by supporting agriculture and transporting people, goods, food, water and firewood, these animals enable people to make a living and they ensure the survival of communities.

But despite the critical role they hold within their communities, welfare standards for working animals are often poor. Many working animals lack access to even the most basic veterinary care. If they are sick or in pain, they work on. And owners often lack the knowledge they need to care for their animals.

These are the problems SPANA – The Society for the Protection of Animals Abroad is striving to address. Founded in 1923, we are focused on building a better future for working animals across the world.

Throughout 2022, SPANA’s work was driven by a vision of a world where every working animal lives free from suffering and is treated with compassion. Our day-to-day mission was focused on improving the welfare of working animals in low-income countries.

To improve the welfare of working animals, SPANA operates in areas of greatest need. As part of our global programmes of working animal welfare work, we treat, train and teach:

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

Where we work

During 2022, SPANA pursued the fifth and final year of its 2018-2022 organisational strategy by delivering a variety of activities to support the welfare of working animals. These activities spanned 23 countries and were focused around three key areas:

Treat – Providing veterinary care

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

Teach – Educating children about animal welfare.

Country Treat Train Teach
Botswana
Cameroon
Ethiopia
Ghana
Guatemala
Guinea
India
Indonesia
Iraq
Jordan
Liberia
Mali
Mauritania
Morocco
Mozambique
Namibia
Sierra Leone
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 2022

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Five-year strategy 2018–2022

Between 2018 and 2022, SPANA pursued a five-year strategy.

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 coronavirus (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 longterm future, while ensuring the charity would be well placed to pursue future growth opportunities when external conditions improved.

In 2022, SPANA’s first annual Business Plan set a series of goals and objectives underpinning our organisational strategy. By following this Business Plan, we began the process of strengthening and enhancing all aspects of our global work and infrastructure, while continuing to deliver all business-asusual activities. Our work to build SPANA’s global impact and effectiveness included the development of an ambitious new strategy for 2023-27, which has an increased emphasis on innovative new projects and activities, increased partnership work, and sustainable solutions to improving working animal welfare.

Objectives and achievements for 2022

In addition to the ongoing work we undertook in our core countries (Botswana, Ethiopia, Mali, Mauritania, Morocco, Tunisia and Zimbabwe), SPANA achieved the following outcomes against the objectives planned for 2022.

Our charity

Objective Achievements
Develop a new organisational strategy This was successfully completed following an
extensive engagement process with internal and
external stakeholders.
Development a global workforce development
and culture plan		 As part of the strategy development, an
extensive survey was completed by all SPANA
staff. This, alongside a review of SPANA’s,
safeguarding and duty of care, forms the
framework for the work to be delivered across
the organisation’s new five-year strategy.
Develop our global infrastructure SPANA invested in a full review of its global
governance, launched its new financial
management system (Dynamics) and
strengthened its global IT infrastructure
successfully.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

Global Animal Welfare Programming

Objective Achievements
Develop our work within a One Health
framework		 This was successfully achieved. New policies
and position statements were launched focused
on zoonotic diseases, biosecurity and the
responsible use of antimicrobials and
anthelmintics.
Develop a minimum standards framework and
begin the roll-out of the standards		 2022 saw the first phase of this work
undertaken. This will now feed into the 2023-27
strategy work, which will establish global
standards of bestpractice.
Develop and introduce a MEAL (Monitoring,
Evaluation, Accountability and Learning)
framework		 This was initiated in 2022 with training provided
to all relevant staff. The broader framework will
sit alongside the new strategy to be launched in
2023.
Develop a pilot project focused on a sustainable
impact		 Two new revolving funds were established in
Ethiopia. One focused on veterinary drugs;
the other on feed for workinganimals.

Fundraising, Marketing and Communications

Objective Achievements
Generate voluntary income of £8,141,331 for
SPANA’s vital work worldwide, through a fully-
integrated fundraising, marketing and
communicationsprogramme		 The charity received £8,207,928 in voluntary
income during 2022, thanks to the kindness of
our supporters.
Maintain public awareness of the SPANA brand
above 8 per cent		 Promoted brand awareness for SPANA was at
an annual average level of 8.25 per cent across
2022, with awareness driven by our brand, PR,
communications, social media and wider
fundraising and marketing activities and
organisational stakeholder engagement.
Ensure donors receive the best possible
supporter experience		 A 2022 survey showed that 98 per cent of UK
supporters were satisfied or very satisfied with
their overall experience of SPANA, while our
work to increase supporter satisfaction by
developing aspects of our programme, such as
our to work to improve donation functionality on
the SPANA website, led to complaints falling by
34per centyear-on-year.
Develop a strategy and plan for a year-long
centenary celebration in 2023		 A strategy and year-long plan for our centenary
celebration were developed in 2022, which
enabled the initial elements (including the
SPANA centenary logo, brand key messaging,
first wave of centenary merchandise, centenary
brochure, centenary film and a centenary launch
event)to be delivered from January2023.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

Finance, Human Resources and Information Technology

Objective Achievements
Develop our global finance management system
to provide full support and oversight of our
overseas programme operations		 An internal review was completed to assess the
current practices, resources and capacity needs
of our offices. A financial transition plan will be
implemented over a two-year period. During
2022, a more robust annual planning and
budgeting process was developed and
implemented across all offices.
Develop a new framework for global risk
management		 A risk register was incorporated into the annual
planning and budgeting process for all offices
which enables the offices to track, monitor and
report on their local risks.
Complete a review of our safeguarding policy
and procedures, and introduce enhanced
processes, along with training to staff both in the
UK and overseas		 The safeguarding review was completed in early
2023, with an implementation plan in place to
strengthen our policies and procedures and to
provide training to staff across the globe.
Develop an organisational sustainability
strategy.		 This forms part of the organisation’s new
five-year strategy.

SPANA Strategy 2023-27 and Business Plan 2023

2023 marks the first year of our new five-year organisational strategy – Transforming the lives of working animals: SPANA Strategy 2023-27. Our new strategy outlines the approach the charity will take in the next five years, as working animal welfare faces increasing pressure from climate change, food insecurity, global inequality, zoonotic diseases and rising local political instability. It explains how we will achieve more for working animal welfare without an equivalent increase in resources. While SPANA will continue to treat, train and teach, we will also work to transform working animal welfare – through new projects and partnerships that will deliver sustainable change for working animal welfare. Find out more and read our strategy at www.spana.org/strategy

Throughout the lifespan of this strategy, our work will be underpinned by annual Business Plans which will set objectives, priority activities and measures of success for each year. They key objectives set by the 2023 Business Plan include:

Our charity

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

Global Animal Welfare Programmes

Global Fundraising, Marketing and Communications

Global Resources

Risk management

SPANA operates in complex environments, and as a result, we are subject to a variety of risks and uncertainties that may have an impact on our operations, financial performance and reputation. Risks are identified and reviewed by the charity’s Senior Leadership Team every two weeks as part of its regular meeting, and appropriate actions to mitigate or manage risks are agreed upon. To ensure effective oversight of the organisation’s risk management practices, the Trustees assess and review risks at the Finance and Audit Committee and quarterly Board meetings. Any urgent risks would be immediately referred to the Chair of Trustees and the wider Board, as appropriate.

Principal risks and uncertainties

The main organisational level risks as identified in our risk register are as follow:

Governance Risk:

Effective governance is crucial to the success of the organisation. Management recognises the importance of good governance and the potential risks associated with poor governance practices ensuring compliance with the Charity Commission and other regularity bodies. To mitigate this risk, a comprehensive international and UK governance review was started in 2022 and will be finalised in 2023 with a view to strengthening our governance framework, policies and procedures to ensure they remain relevant and fit for purpose.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

Financial Management Risk:

Effective financial management is essential to the organisation’s long-term sustainability. Management recognises the importance of financial management and the potential risks associated with poor financial management practices, such as fraud, misstatement or mistake, especially in the current external economic environment. To mitigate this risk, the financial management framework, policies, systems and procedures are constantly under review to ensure controls are strengthened and systems and processes operate efficiently, ensuring transparency and accountability.

Safeguarding and Security Risk:

SPANA operates in countries and an environment where safeguarding and security risks are a concern. Management recognises the importance of safeguarding and security and the potential risks associated with poor safeguarding practices. To mitigate this risk, a robust safeguarding and security framework, policies and procedures will be put in place and regularly reviewed and updated to ensure they remain fit for purpose.

Fraud and bribery

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

Volatility of the External Environment:

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

During 2022, 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:

Economic uncertainty:

We continue to operate in an extremely volatile global economic environment. Following the height of the coronavirus (Covid-19) pandemic, the world is facing continuing economic pressures including increased inflation and a cost of living crisis that is affecting the UK and all of our country and partner offices. Within this context, our reliance on the UK charity giving market – the source of the vast majority of SPANA’s income – and the global voluntary giving market pose a risk to the charity. Actions taken and controls that exist to mitigate this risk include:

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

TRUSTEES REPORT

Financial review

SPANA relies on the generosity of our donors and supporters to fund our mission and make a positive difference for the welfare of working animals. We are committed to ensuring that every donation is used effectively and efficiently to achieve our charitable objectives.

Our total income for the financial year was £10,678,984 which represents a 16% increase from the previous year, however this includes the gain on the property sold for £2,084,420. The operational total income fell by 7%, the main reason for this decrease was due to a decline in both donations and legacies as a result of the external economic environment and cost of living crisis. Voluntary donations, excluding legacies, were £3,374,701 in 2022 (2021: £3,761,165) a 10% decline compared to the prior year. Legacy income was £4,469,159 (2021: £4,978,689) a 10% decline compared to the prior year with a further estimated value of notified legacies standing at £4,567,979 in total, yet to be received. As a proportion of total income (excluding the property sale), legacies contributed 52 per cent (2021: 54 per cent).

The fundraising, marketing and communications objectives for the year were to generate income via a comprehensive fundraising programme; maintain public awareness of the SPANA brand; ensure donors receive the best-possible supporter experience; and develop a strategy and plan for the SPANA centenary in 2023. All these objectives were achieved.

Direct charitable expenditure was £5,716,309 in 2022 (2021: £5,325,340). The veterinary, training and teaching activities increased by 7% compared to the prior year; this increase was due to local health restrictions and lockdowns being lifted after the pandemic.

The operating surplus for the year was £2,476,863 (2021: £1,323,727).

At the end of the financial year, the net assets position was £14,917,165 (2021: £13,151,334) representing an increase from the previous year; this was mainly driven by the sale of the office premises. Net assets include restricted funds of £439,527 and a designated fund of £3,243,215 (see note 11 for details). The general fund of £11,234,423 (2021: £9,984,251) will be available for finance working capital and enable SPANA to invest in new programmes and services that align with our mission and goals.

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, made a profit in its fifth year of operation. Details of this subsidiary can be found in note 8(f).

The increase in economic uncertainty and rising inflation across the globe, has caused a fall in the price of equities and had an immediate effect on the value of our investments in 2022, falling by £713,515. However, our investment portfolio performed well during the prior year 2021 with an unrealised gain of £799,362 which has resulted in an overall unrealised gain of £85,847 over the two-year period. With the

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

sale of our former Head Office (detailed below) and investing surplus cash held at the bank, we have been able to increase our investment portfolio by £6.5m.

Following the successful sale of SPANA’s John Street office premises, sold for £3.3m in January 2022 (details of this transaction can be found in note 16), SPANA has set up a temporary office within the Co-Work building in the London Bridge area. In the longer term, SPANA is seeking a new, home for its global support team. This new base will support and enable the development of our workforce as part of a high-performance, agile, collaborative, innovative and focused working culture. As such, SPANA’s new home will be more than a mere office – but a catalyst for lasting, transformative change for our organisation.

Reserves policy

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

Total funds in 2022 were £14,917,165 (2021: £13,151,334).

Restricted reserves at 31 December 2022 were £439,527 (2021: £249,268). These funds are set aside for specific purposes and projects as stipulated by the donor. These funds are typically subject to restrictions and can only be used for the purposes specified in the agreements/contracts, full details are shown in Note 12.

Total unrestricted reserves on 31 December were £14,477,638 (2021: £12,902,067) and are those available for use at the Trustees’ discretion. Within total unrestricted funds are designated funds totalling £3,243,215 (2021: £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 for the purchase of new UK premises, details are shown in Note 11. The remaining free reserves at 31 December 2022 were £11,234,423 (2021: £9,984,251), representing 71 weeks’ forward expenditure against a reserves target of 26 weeks (or £4m). It is SPANA’s intention to use these excess reserves for future investments, using innovative approaches to align operations and programmes with the new five-year strategic plan. The free reserves fall within the Chief Executive’s recommended five-year plan on reserves drawdown to drive a variety of strategic changes, transformations, and new initiatives as part of implementing and delivering the new Strategy. 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

SPANA has sufficient resources to continue its operations for the foreseeable future, and there is no indication that the organisation will not be able to meet its future financial obligations.

The organisation has maintained a strong financial position, which has enabled it to generate a positive net income for the year resulting in reserves being significantly above its reserves policy. The reserves will provide security against unexpected events or costs and management remain confident in the charity's financial position.

The organisation’s income for the year was generated from a mix of sources, including donations, legacies, fundraising activities and grants. The organisation’s expenditure for the year was mainly associated with delivery of its programmes and services.

Management has assessed the risks associated with the charity’s operations and is confident that the charity’s financial position will enable it to continue its operations for the future.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

A forecast has been prepared which considers expected financial performance up to December 2024. The forecast includes assumptions around certain risks and scenario planning such as the impact of volatile fundraising income during a time where we are experiencing a global cost-of-living crisis and high inflation, staff costs, and available reserves.

Financial performance and cash flow are regularly monitored, with a particular emphasis on liquidity and available free reserves. As part of this oversight, the fundraising and investment performance, as well as the cash position, are evaluated on an ongoing basis to ensure SPANA has enough funds to cover day-to-day operations.

The proceeds from the sale of the premises at John Street has increased cash reserves. Some of the proceeds will fund the purchase of a new, smaller and more modern office in the long term, while the remainder will provide additional funds to cover interim arrangements of a smaller leased office.

After consideration of the revised forecasts 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 will continue to operate for the foreseeable future.

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 is in line with its policies and overall global stock market conditions in 2022 and against a suitable benchmark for this policy.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure

SPANA is a global organisation with clear objectives and a strong global 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 subsidiary in Australia, and SPANA Trading Limited, a UK trading subsidiary. The subsidiary in Australia, along with the UK trading subsidiary, are wholly owned by the charity.

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The Society for the Protection of Animals Abroad (Australia) Limited was established in February 2017 in order to promote the charity’s fundraising programme 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 two subsidiaries. One was closed in 2019 and the process of the remaining subsidiary being liquidated commenced in early 2020. This process is ongoing but near completion with no material adjustments required. 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 2022 is 104 (2021: 110) 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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The Trustees

SPANA’s Board of Trustees comprised 11 members of the charity on 31 December 2022 (see page19). 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 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 Global Resources; Director of Global Programmes; Director of Global Animal Welfare; and Director of Global Fundraising, Marketing & Communications. The directors are responsible for managing their respective departments.

The remuneration of the Senior Leadership Team is reviewed by periodic benchmarking against equivalent positions in the charity and commercial sectors. This benchmarking is supervised independently of the Senior Leadership Team by the People & Safeguarding Committee.

The members of the Senior Leadership 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 2022

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Global operations

With the exception of our activities in Australia, SPANA operates through a network of national NGOs and partner organisations, on a grant basis where SPANA fund their activities to meet our charitable objects. The breakdown of these partners’ financial activities are therefore not included in the annual accounts.

Grant-making policy

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

SPANA is committed to upholding the principles of the Charity Governance Code and has applied these principles in our operations, including promoting transparency, accountability and good practices to ensure that we fulfil our mission and meet the expectations of our key stakeholders. 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 is fully committed to creating a safe and secure environment for all those who engage with our programmes and services, including employees, beneficiaries, communities and other stakeholders. We take our responsibilities in safeguarding and whistleblowing very seriously and are committed to ensuring that our policies and procedures are continuously reviewed and updated to reflect best practice and the evolving needs of the organisation and the communities we serve.

To further strengthen our safeguarding, we plan to expand our training and awareness programs for all staff and partners with regular risk assessments and clear reporting mechanisms for any safeguarding concerns. We also fully support and encourage whistleblowing by staff, communities and partners; this will be supported with further training sessions to raise awareness.

Global Fundraising, Marketing and Communications

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 was delivered in 2022 through a fully integrated, multi-channel, values-based and insight-driven fundraising, marketing and communications programme that aimed to develop brand awareness, supporter satisfaction and donor loyalty in support of our income generation work. Throughout the year, we worked to meet ambitious but achievable targets, with market insight and evidence, donor knowledge and data analysis guiding our activities.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

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 2022, 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 and supporters; 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, delivered income of £8,295,509 during 2023. Meanwhile, prompted awareness of the SPANA brand, as measured by independent brand tracking organisation nfpResearch (formerly nfpSynergy Research), tracked at 8.25 per cent during the year, slightly above our target.

Key successes of the year included the continued development of our regular giving programme, with the projected value of annual income from supporters who donate on a regular (mostly monthly) basis growing by three per cent. Our Spring, Summer and Winter appeals, themed around helping working animals at risk from parasites, dental disease and EZL disease, also provided compelling drivers for donations. We 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 34,147 individuals and organisations in 2022 – representing 96 per cent of our longterm 2017-21 average.

2022 was a similarly successful year for our awareness raising activities. The charity maintained a social media audience of more than 400,000 followers during the year (including 371,043 followers on Facebook), even as we developed our use of social media platforms to support fundraising and organisational objectives. Highlights of our PR and communications programme included an International Working Animal Day campaign highlighting the difference working animals make to the lives of people in the UK and around the world, and a World Animal Day campaign showcasing animals working in extreme conditions.

The impact and reach of our work was recognised at the 2022 Charity Film Awards, at which SPANA won a People's Choice Award (in the £5m-£20m turnover category), after gaining the most votes in a public vote.

Fundraising, marketing and communications practices

SPANA works to ensure all elements of its fundraising, marketing and communications programme (including activities performed on its behalf by third parties) comply with all statutory regulations. The charity is a registered member of the UK’s leading fundraising bodies, the Chartered Institute of Fundraising and the Fundraising Regulator, plus the third-sector communications organisation, CharityComms.

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

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

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 people, such as door-to-door or face-to-face fundraising.

Throughout 2022, the charity continued to primarily operate our fundraising, marketing and communications programme remotely, with staff primarily working from home. During the summer, the charity began using a PO Box address for postal mail, which is securely processed by SPANA staff. Meanwhile, phone calls to our main switchboard number continued to be redirected to our home-based staff.

All complaints about our fundraising, marketing and communications programme are responded to individually and help inform our approach to future activities. In 2022, the charity recorded 129 complaints, down from 198 in 2021, 179 in 2020 and 233 in 2019. The majority of these complaints (46) concerned mailing and fulfilment issues relating to our Happy Hooves retail programme; many of these issues (such as postal delays) were outside the charity’s control. The other most frequent sources of complaint concerned “ignored” or delayed do-not-mailing requests (25) and the regularity of our mailings (22). The response level represented less than 0.1 per cent of the volume of our mailings. All complaints and concerns were ultimately resolved by SPANA and none were escalated.

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, marketing or communications regulations or standards during 2022.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Patron

Mr John Craven OBE FLS

President

The Rt Hon The Lord de Mauley TD

Vice Presidents

Professor D Knottenbelt OBE BVM&S DVM 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) Mr G R H Helmer BSc (Hons) FCA (Deputy Chair) (Honorary Treasurer) (1) (3) Ms M Blagescu MA – resigned 6 September 2022 (2) (3) Dr J Boyd BSc (Hons) MSc PhD PGCHE FHEA MRSB (2) Ms M S Davies BA (Hons) MCIPD (3) Ms I D P Dos Santos BVetMed FRCVS (4) Mr A J W Firby BA (Hons) MSc Chartered FCIPD (3) (4) Ms J Hunter ACMA – appointed 20 March 2023 (1) Mr R Gethen Smith BEng (Hons) MA (4) – resigned 5 July 2022 Ms M Liszewski BSc MSc (2) Ms M Lance – appointed 20 March 2023 (4) Mr G Parker BSc – resigned 5 September 2022 (1) Miss S Shanks BVSc MPH MFPH MRCVS (2) Mr S Simmons FCA – appointed 20 March 2023 (1)

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

Chief Executive:

Ms Linda Edwards

Director of Global Animal Welfare:

Dr Linda Evans BVetMed MRCVS – from 23 August 2022

Director of Global Programmes:

Mr Kit Vaughan MSc – from 3 October 2022

Director of Global Fundraising, Marketing and Communications: Mr David Bassom BSc (Hons) MFIA

Director of Global Resources:

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

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:

Mr Paul Sylva MBA FCA – resigned 18 March 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 2022

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:

Evelyn Partners 45 Gresham Street London EC2V 7BG

Bankers:

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

Postal address:

SPANA PO Box 79509 London EC4P 4ND

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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 2022

OUR GLOBAL PARTNERS

SPANA would like to thank our global partners for making the work of our programmes possible. They include:

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2022

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 12th June 2023 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 2022

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 2022 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 2022

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 2022

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.

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

London

Date: 21 June 2023

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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 2022

Notes
Income from
Donations
2(d)
Legacies
2(d)
Trusts
2(d)
Trading activities
3
Investment income
2(d)
Other income
2(d)
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
Operating (deficit)/surplus for the year.
Net gains/(losses) on investments
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Funds brought forward at 1 January 2022
Funds carried forward at 31 December 2022		 £
Unrestricted
Funds		 Restricted
Funds		 Total 2022
Total 2021
£
£
3,374,701
3,761,165
4,469,159
4,978,689
364,068
173,205
62,238
74,010
299,055
126,733
2,109,763
109,002
10,678,984
9,222,804
2,390,259
2,491,001
25,664
32,723
69,889
50,013
2,485,812
2,573,737
4,275,726
3,913,225
1,440,583
1,412,115
5,716,309
5,325,340
8,202,121
7,899,077
2,476,863
1,323,727
(711,032)
801,673
1,765,831
2,125,400
1,765,831
2,125,400
13,151,334
11,025,934
14,917,165
13,151,334
3,292,939
4,469,159
123,818
62,238
299,055
2,109,763
10,356,972
2,390,259
25,664
69,889
2,485,812
4,149,343
1,435,213
5,584,556
8,070,368
2,286,604
(711,032)
1,575,572
1,575,572
12,902,066
14,477,638		 81,762
-
240,250
-
-
-
322,012
-
-
-
-
126,383
5,370
131,753
131,753
190,259
-
190,259
190,259
249,268
439,527

All the above amounts relate to continuing activities. All gains/losses in the year are shown above.

The notes on pages 29 to 44 form part of these financial statements.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Consolidated balance sheet as at 31 December 2022

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		 2022
2021
£
£
26,214
1,182,477
69,001
78,792
13,270,510
7,256,940
13,365,725
8,518,209
20,037
8,859
492,270
748,572
1,460,662
4,335,335
1,972,969
5,092,766
(421,529)
(459,641)
1,551,440
4,633,125
14,917,165
13,151,334
11,234,423
9,984,251
3,243,215
2,917,815
14,477,638
12,902,066
439,527
249,268
14,917,165
13,151,334
Group		 2022
2021
£
£
26,214
1,182,477
69,001
78,792
13,270,511
7,256,941
13,365,726
8,518,210
-
-
609,065
944,739
1,262,076
4,066,676
1,871,141
5,011,415
(402,584)
(425,119)
1,468,557
4,586,296
14,834,283
13,104,506
11,151,541
9,937,423
3,243,215
2,917,815
14,394,756
12,855,239
439,527
249,268
14,834,283
13,104,506
Society

The Society made a surplus of £1,729,778 (2021 surplus of £1,936,241)

Approved by the Council and authorised for issue on 12th June 2023 and signed on its behalf by:

M-L Hughes Chair

Gavin Helmer Deputy Chair & Treasurer

The notes on pages 29 to 44 form part of these financial statements.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Consolidated statement of cash flows For the year ended 31 December 2022

2022 2021
£ £
Cash flows from operating activities 338,296 1,161,919
Cash flow from investing activities
Dividends & Interest from Investments 296,974 126,643
Disposal of Tangible Assets 3,257,509 0
Purchase of Tangible Assets (23,131) 8,858
Purchase of Intangible Assets (17,236) (39,688)
Purchase of Investments (6,727,085) (76,630)
Net Cash provided by Investing Activities (3,212,969) 19,183
Change in Cash & Equivalents in the Reporting Period (2,874,673) 1,181,102
Cash & Equivalents at start of Reporting Period 4,335,335 3,154,233
Cash & Cash equivalents and Net Debt at end of Reporting Period 1,460,662 4,335,335
Reconciliation of net movement in funds to Cash flows from operating activities
Net Movement of Funds per the SOFA 1,765,831 2,125,400
Depreciation and Amortisation 33,332 58,700
(Gains)/losses on listed investments 713,515 (799,362)
(Gains)/losses on investments 0 (6,130)
Dividends & Interest from Investments (296,974) (126,643)
Gain on Sale of Fixed Assets (2,084,420) 0
Decrease/(increase) in stocks (11,178) (2,846)
Decrease/(increase) in debtors 256,302 (144,560)
Increase/(decrease) in creditors (38,112) 57,360
338,296 1,161,919

Analysis of changes in net debt

Reconciliation of net debt

The Group has no borrowings and has not entered into any finance leases. The analysis of the changes in net debt are summarised below.

Cash at the start of the year
Cashflows
Cash at the end of the year		 4,335,335
3,154,233
(2,874,673)
1,181,102
1,460,662
4,335,335

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

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 2022 is 104 (2021: 110) 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

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.

(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 - second edition - October 2019 - effective 1 January 2019).

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Notes to the financial statements For the year ended 31 December 2022

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

SPANA has sufficient resources to continue its operations for the foreseeable future, and there is no indication that the organisation will not be able to meet its future financial obligations.

The organisation has maintained a strong financial position, which has enabled it to generate a positive net income for the year resulting in the reserves significantly above its reserves policy. The reserves will provide security against unexpected events or costs and management remain confident in the charity's financial position.

The organisation income for the year was generated from a mix of sources, including donations, legacies, fundraising activities and grants. The organisation’s expenditure for the year were mainly associated with delivery of its programmes and services.

Management has assessed the risks associated with the charity’s operations and is confident that the charity’s financial position will enable it to continue its operations for the future.

A forecast has been prepared which considers expected financial performance up to December 2024. The forecast includes assumptions around certain risks and scenario planning such as the impact of volatile fundraising income during a time where we are experiencing a global cost-of-living crisis and high inflation, staff costs, and available reserves.

Financial performance and cash flow are regularly monitored, with a particular emphasis on liquidity and available free reserves. As part of this oversight, the fundraising and investment performance, as well as the cash position, are evaluated on an ongoing basis to ensure SPANA has enough funds to cover day-to-day operations.

The proceeds from the sale of the premises at John Street has increased cash reserves. Some of the proceeds will fund the purchase of a new, smaller and more modern office in the long term, while the remainder will provide additional funds to cover interim arrangements of a smaller leased office.

After consideration of the revised forecasts 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 will continue to operate for the foreseeable future.

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.

Other Income includes the gain on the sale of the St John's Street premisies, see note 16 for details.

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

2 Accounting policies (continued)

(e) Expenditure

All UK expenditure is recognised on an accruals basis.

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

Costs of raising funds includes activities to generate donations and legacies, including the costs of keeping donors informed about our work, the administration of gifts, publicity costs, costs of goods sold for fundraising purposes and the direct costs of running fundraising campaigns. They do not include the cost of bidding for grants and contracts.

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.

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:

United Kingdom Overseas
Freehold building - over 50 years - over 50 years
Furniture, fittings and equipment - over 5 years - over 5 years
Computers - over 3 years - over 5 years
Intangibles - between 3-5 years - between 3-5 years

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

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).

(i) Stocks

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 2022 2021
£ £
Sale of Merchandise 62,238 74,010

4 Legacies

The estimated value of residuary legacies, notified to SPANA prior to 31 December 2022 and expected to be received in future years, is £4.6 million (2021: £4.2 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

(a) Analysis of cost of raising funds

Staff costs
Other direct costs
Governance costs
Other support costs
Depreciation		 2022
2021
£
£
673,016
697,360
1,449,279
1,496,621
34,848
24,015
222,449
252,356
10,667
20,649
2,390,259
2,491,001

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

5 Analysis of expenditure (continued)

Botswana
Ethiopia
Jordan
Mali
Mauritania
Morocco
Myanmar
Tunisia
Zimbabwe
Outreach and Emergency		 Treatment of
sick animals
£
85,781
477,978
225,392
937,079
1,317,057
491,866
513,902
226,671		 Education
£
18,463
454,420
-
55,405
323,223
222,767
-
114,751
191,284
60,270		 2022
2021
Total
Total
£
£
104,244
28,711
932,398
905,011
-
-
280,797
625,285
1,260,302
1,163,274
1,539,824
1,371,510
-
-
606,617
498,012
705,186
446,617
286,941
286,920
4,275,726 1,440,583 5,716,309
5,325,340

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

(c) Charitable activities by type of expenditure

Treatment of
sick animals
Education
£
£
Direct funding for overseas projects
2,754,119
732,299
Grants payable for outreach funding
226,671
60,270
Staff costs
925,397
462,699
Governance costs
49,005
25,047
Other support costs
320,534
160,267
4,275,726
1,440,582
(d) 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 $18,000)
Depreciation
Trustees' expenses		 Treatment of
sick animals
£
2,754,119
226,671
925,397
49,005
320,534		 Education
£
732,299
60,270
462,699
25,047
160,267		 2022
2021
Total
Total
£
£
3,486,418
3,035,542
286,941
286,920
1,388,096
1,438,305
74,052
51,033
480,801
513,540
4,275,726 1,440,582 5,716,308
5,325,340
2022
2021
£
£
30,400
27,000
10,865
6,820
10,077
8,759
33,332
58,700
765
113

6 Expenditure includes:

Wages and salaries
Social Security costs
Pension costs (Note 14)
Other staff costs
Compensation payments for loss of office		 2022
2021
£
£
1,751,095
1,817,036
192,602
176,557
149,955
165,273
9,524
20,383
United Kingdom
2,103,176
2,179,249
-
115,070

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

6 Expenditure includes: (continued)
(b) Staff costs and employees
Employees earning more than £60,000 p.a.
£60,000 - £70,000
£70,000 - £80,000
£80,000 - £90,000
£90,000 - £100,000
£100,000 - £110,000
£110,000 - £120,000
£120,000 - £130,000
£130,000 - £140,000
Pension contributions of £33,012 (2021: £50,940) were made for these employees.
Total remuneration and employee benefits of senior leadership team		 No.
No.
2
2
-
1
-
-
1
1
1
1
-
-
-
-
-
-
£33,012
£50,940
£411,745
£379,573

Included in the wages and salaries costs are terminated payments of £60,067 (2021: £0)

The average monthly number of staff during the year was:

2022
2021
No.
36
42
United Kingdom		 2022
2021
No.
36
42
United Kingdom		 2022
2021
No.
Overseas
36 42 4
.

(c) Trustees' expenses and remuneration

Reimbursements to Trustees, and amounts paid on their behalf, were made to 4 (2021: 1) Trustees 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 £765 (2021: £113).

The Trustees received no remuneration for their services during the year (2021 : NIL).

The Trustees have not waived any expenses which they could have claimed (2021 : NIL).

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34

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

7 Fixed assets

Group and Society

Group and Society
Cost:
1 January 2022
Additions
Disposals
Note 16
31 December 2022
Depreciation:
1 January 2022
Charge for the year
Disposals
31 December 2022
Net book value:
31 December 2022
31 December 2021		 Freehold land
and buildings
£
1,559,589
-
(1,559,589)		 Computers
£
45,324
23,131
(36,931)
Furniture,
fittings and
equipment
Total
£
£
7,222
1,612,135
-
23,131
-
(1,596,520)
- 31,524 7,222
38,746
386,500
-
(386,500)		 38,536
4,880
(36,931)		 4,622
429,658
1,425
6,305
-
(423,431)
- 6,485 6,047
12,532
- 25,039 1,175
26,214
1,173,089 6,788 2,600
1,182,477
Group and Society
Cost:
1 January 2022
Additions
Transfer
Disposals
31 December 2022
Depreciation:
1 January 2022
Charge for the year
Disposals
-
31 December 2022
Net book value:
31 December 2022
31 December 2021		 Software &
Systems
£
95,483
17,236
39,688
(35,000)		 Assets under
Construction
Total
£
£
39,688
135,171
-
17,236
(39,688)
-
-
(35,000)
117,407 -
117,407
56,379
27,027
(35,000)		 -
56,379
-
27,027
-
(35,000)
48,406 -
48,406
69,001 -
69,001
39,104 39,688
78,792

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2022

8 Investments
2022
2021
£
£
(a) Listed Investments (note 8b)
13,270,510
7,256,940
Investments in Subsidiary (note 8d, 8e, 8f)
-
-
13,270,510
7,256,940
(b) Listed Investments
Valuation at 1 January 2022
New funds introduced
Reinvested income
Management fees
Net investment gains/(losses) for the year
Valuation at 31 December 2022 (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		 8 Investments
2022
2021
£
£
(a) Listed Investments (note 8b)
13,270,510
7,256,940
Investments in Subsidiary (note 8d, 8e, 8f)
-
-
13,270,510
7,256,940
(b) Listed Investments
Valuation at 1 January 2022
New funds introduced
Reinvested income
Management fees
Net investment gains/(losses) for the year
Valuation at 31 December 2022 (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		 8 Investments
2022
2021
£
£
(a) Listed Investments (note 8b)
13,270,510
7,256,940
Investments in Subsidiary (note 8d, 8e, 8f)
-
-
13,270,510
7,256,940
(b) Listed Investments
Valuation at 1 January 2022
New funds introduced
Reinvested income
Management fees
Net investment gains/(losses) for the year
Valuation at 31 December 2022 (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		 2022
2021
£
£
13,270,510
7,256,940
1
1
Society
13,270,510 7,256,940 13,270,511
7,256,941
2022
2021
£
£
7,256,940
6,380,948
6,500,000
-
296,974
126,643
(69,889)
(50,013)
(713,515)
799,362
13,270,510
7,256,940
2022
2021
£
£
3,558,059
2,671,471
4,702,599
265,439
3,026,420
2,210,953
315,099
137,920
1,668,333
1,971,157
13,270,510
7,256,940
United Kingdom
Percentage
Incorporated Principal Class of of share
in activity shares capital 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		 2022
2021
£
£
62,238
74,010
(47,698)
(54,723)
14,540
19,287
(14,540)
(19,287)
-
-
1
1

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36

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

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
Incorporated
Principal		 Class of of share
in activity shares capital 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 2022 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)		 2022
2021
£
£
-
-
-
-
-
-
-
-
-
-
-
-

8 Investments (continued)

(f) Australia

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
Incorporated
Principal		 Class of of share
in activity shares capital 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		 2022
2021
£
£
396,905
588,520
(362,916)
(430,465)
33,989
158,055
33,989
158,055
82,721
19,810
151,213
199,423

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

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		 2022
2021
£
£
14,151
50,938
16,117
17,386
462,002
680,248
492,270
748,572
2022
2021
£
£
5,662
45,279
16,117
17,386
454,000
679,920
133,286
202,154
609,065
944,739
2022
2021
£
£
156,550
162,550
56,087
85,037
208,893
212,054
421,530
459,641
2022
2021
£
£
156,550
162,550
56,087
85,037
189,947
177,532
402,584
425,119

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THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2022

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 2022
Net income or
(expenditure)
Transfers
Gains /
(losses)
Balance 31
December
2022
£
£
£
£
£
249,268
190,259
-
439,527
9,389
(13,800)
30,625
26,214
78,792
(17,764)
7,973
69,001
2,000,000
2,000,000
829,634
(181,203)
499,569
1,148,000
2,917,815
(212,767)
538,167
-
3,243,215
9,984,251
2,499,371
(538,167)
(711,032)
11,234,423
12,902,066
2,286,604
-
(711,032)
14,477,638
13,151,334
2,476,863
-
(711,032)
14,917,165

A description of the reserves held at 31 December 2022 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. The above table reflects the group reserves position, the Society reserves are the same with the exception of general reserves which are £82,865 lower due to the net Balance Sheet value of the Australia company

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39

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements

For the year ended 31 December 2022

12 Restricted funds
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
Mali Segou Building Costs
Ethiopia Gondar
Mauritania Boghe
Vet CSC
X ray and ultrasound machines
University of Liverpool for AAU Ethiopia CVMA
Treating working animals with parasites
Small Funds under £5,000		 Balance 1
January 2022
Income
Expenditure
£
£
£
33,305
33,947
(8,900)
62,000
(54,022)
20,214
(890)
11,115
38,344
8,166
(1,555)
51,251
49,475
22,748
4
(9,040)
6,250
(5,000)
31,991
25,000
(14,087)
99,559
5,000
(88)
7,143
25,343
(25,343)
10,100
23,035
7,290
(12,828)		 Balance 31
December
2022
£
33,305
25,047
7,978
19,324
11,115
38,344
6,611
100,726
13,712
1,250
31,991
10,913
99,559
4,912
7,143
-
10,100
17,497
249,268
322,012
(131,753)		 439,527

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.

The funds with a balance carried forward as at 31 December 2022 are to be used for the following purposes:

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 Mali Segou Building Costs Ethiopia Gondar Mauritania Boghe Vet CSC X ray and ultrasound machines Treating working animals with parasites

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 Build a new SPANA centre in Segou Costs of running activities in Gondar Running costs for the centre in Boghe To train students in our education centres linked to Vet universities To purchase veterinary diagnostic equipment Treating working animals with parasites

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40

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

13 Analysis of net assets - society

Investments
Fixed assets
Current assets
Current liabilities
Total
lysis of net assets - group
Investments
Fixed assets
Current assets
Current liabilities
Total		 Unrestricted
£
13,270,511
95,215
1,431,614
(402,584)		 Restricted
£
-
-
439,527
-		 Total 2022
Total 2021
£
£
13,270,511
7,256,941
95,215
1,261,269
1,871,141
5,011,415
(402,584)
(425,119)
14,394,756 439,527 14,834,283
13,104,506
Unrestricted
funds
£
13,270,510
95,215
1,533,442
(421,529)		 Restricted
funds
£
-
-
439,527
-		 Total 2022
Total 2021
£
£
13,270,510
7,256,940
95,215
1,261,269
1,972,969
5,092,766
(421,529)
(459,641)
14,477,638 439,527 14,917,165
13,151,334

Analysis of net assets - group

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

15 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
16 Sale of John Street premises
Net sale proceeds January 2022
Less Purchase cost
Profit on sale		 2022
2021
£
£
12,959
18,879
22,000
22,000
67,410
78,094
14,540
19,287
103,950
119,381
-
-
65,876
124,060
3,257,509
1,173,089
2,084,420

For the working animals of the world

41

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

17 Consolidated statement of financial activities

(Incorporating income and expenditure account)

For the year 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
Total 2020
£
£
3,761,165
3,765,359
4,978,689
5,541,710
173,205
232,099
74,010
86,391
126,733
140,655
109,002
251,173
9,222,804
10,017,387
2,491,001
2,642,343
32,723
66,715
50,013
45,247
2,573,737
2,754,305
3,913,225
3,733,535
1,412,115
1,472,174
5,325,340
5,205,709
7,899,077
7,960,014
801,673
(218,164)
2,125,400
1,839,209
2,125,400
1,839,209
11,025,934
9,186,725
13,151,334
11,025,934
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

For the working animals of the world

42

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

18 Prior Year Analysis of net assets – group

Investments
Fixed assets
Current assets
Current liabilities
Total
Prior Year Analysis of net assets - society
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
Total 2020
£
£
7,256,940
6,380,948
1,261,269
1,283,009
5,092,766
3,764,258
(459,641)
(402,281)
12,902,066 249,268 13,151,334
11,025,934
Unrestricted
funds
£
7,256,941
1,261,269
4,762,147
(425,119)		 Restricted
funds
£
-
-
249,268
-		 Total 2021
Total 2020
£
£
7,256,941
6,380,949
1,261,269
1,283,009
5,011,415
3,861,059
(425,119)
(356,752)
12,855,237 249,268 13,104,506
11,168,265

19 Prior Year Reserves

19 Prior Year 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.

For the working animals of the world

43

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Notes to the financial statements For the year ended 31 December 2022

Prior Year Restricted Funds (continued)

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.

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

For the working animals of the world

44