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2024-12-31-accounts

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD (A company limited by guarantee)

Financial statements 31 December 2024

Company number: 558085 Charity number: 209015

Working animal welfare since 1923

THE SOCIETY FOR THE PROTECTION OF ANIMALS ABROAD

Contents Pages
Report by the Board of Trustees 3–35
Independent auditor’s report 36–40
Consolidated statement of financial activities 41
Consolidated and charity balance sheet 42
Consolidated statement of cash flows 43
Notes to the financial statements 44-59

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2024

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INTRODUCTION

Foreword from our Chair of Trustees

It is my great pleasure to welcome you to SPANA’s Annual Report & Accounts for 2024, which charts another successful year for our charity.

2024 marked my first year as Chair of Trustees at SPANA, and throughout the year I continued to be inspired by our organisation’s dedication to improving the lives of working animals. During 2024, many of our global teams and partners had to overcome severe challenges and extreme climate events – including devastating droughts, floods, heatwaves and landslides – to reach working animals in need.

It is very clear that the need for our charity’s work is greater than ever. The lives of working animals are only becoming more difficult and precarious, as our world faces escalating challenges including the climate crisis, conflict and economic instability.

Thankfully, in 2024, our charity was able to continue its vital work, reaching 486,746 working animals across 22 countries. During the year, our global teams and partners provided 735,397 veterinary treatments to sick and injured working animals. We improved the welfare of working animals by training 117,212 owners and communities and 6,217 veterinary professionals in animal care. We inspired 112,690 schoolchildren through our relaunched education and Social and Behaviour Change Communications (SBCC) programme.

I’m delighted to welcome seven new Trustees to SPANA’s Board of Trustees, and I look forward to working closely with them in the months and years ahead. I would like to thank our departing Trustees for their work during 2024 – and their continued support for our charity.

I would also like to take this opportunity to thank our global teams and partners for their hard work and dedication to transforming the lives of working animals in 2024. Whether they are a vet, a technician, an educator, or are supporting their colleagues in our Global Support Team, every single individual makes an essential contribution to working animal welfare. They share our pride in the positive impact SPANA’s work is having on working animals and their communities worldwide.

My final thank you goes to our supporters. Your dedication, generosity and compassion for working animals makes our work possible. We are all incredibly grateful for your continued support. Together, we are delivering transformative change for working animal welfare.

Marianne Davies Chair of Trustees

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Introduction from our Chief Executive

This year has been one of bold progress and meaningful impact for SPANA, as we’ve worked to advance the welfare of working animals across the world. Guided by our mission and driven by the dedication of our staff, partners, and supporters, we’ve continued to tackle some of the most pressing challenges facing working animals today — from harmful international trade to the growing threats of climate change. Our collective efforts have not only improved individual lives but also shaped policy, shifted mindsets, and laid the groundwork for lasting change.

One of our most significant accomplishments was SPANA’s leadership as Chair of the International Coalition for Working Equids (ICWE) from Sept 23 – Aug 24. Through collaborative efforts with ICWE partners, we successfully proposed and secured a panAfrican ban on the devastating donkey skin trade. This groundbreaking decision, adopted by the African Union, will help protect countless donkeys across the continent for years to come. Following this historic win, we have been privileged to partner with the African Network for Animal Welfare in Kenya, where we are actively supporting law enforcement in implementing the ban. A key moment in this effort was the opening of a judicial dialogue, which brought together 16 agencies and marked a significant milestone in our shared commitment to ending this trade.

In another pivotal moment for the year, the United Nations adopted a resolution recognising the crucial role of working animals in disaster risk reduction and recovery efforts. This success, achieved through years of advocacy by SPANA and our ICWE partners, is particularly meaningful in a world increasingly impacted by the climate crisis. The UN’s recognition is a vital step toward ensuring that working animals are acknowledged and protected as integral contributors to disaster resilience.

Education remains central to our mission, and in 2024 we expanded our outreach in line with our strategic goals. From engaging schoolchildren and veterinary professionals to reaching working animal owners, our programmes are rooted in Social and Behaviour Change Communication, driving long-term improvements in animal welfare that are locally relevant and community-led.

This year also marked an exciting step forward as we launched our first working dog project in Malawi, in partnership with the Lilongwe Society for the Protection and Care of Animals. Focused on the welfare of security dogs, this initiative reflects SPANA’s commitment to addressing emerging welfare needs and represents an important new dimension to our global programme.

These milestones are just a snapshot of what we’ve achieved in 2024. In the pages ahead, you will read more about the breadth and impact of our work – from clinical care to training and community outreach – across the diverse countries and contexts where SPANA operates.

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To all who make this possible – our supporters, partners, and team members – thank you. Together, we are building a world where working animals are respected, protected, and valued.

Linda Edwards Chief Executive

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STRATEGIC REPORT

Highlights from 2024

In 2024, SPANA continued to deliver on its 2023-2027 strategy – detailed below in line with our core goals are some of our key achievements:-

Goal 1: Welfare – The quality of life improves for working animals globally, at a greater scale than ever before

Goal 2: Worth – The contribution working animals make to people across the world is recognised and valued.

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Goal 3: World – The world of working animals thrives and grows sustainably, as part of the nexus of animals, people and the environment.

Goal 4: Harnessing our potential – Our charity builds its reputation and effectiveness as a pioneering, modern and global organisation, while delivering transformative change for working animal welfare.

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About SPANA

Across the world, a huge but largely overlooked workforce of more than 200 million donkeys, mules, horses, camels, water buffalo and oxen loyally support more than 600 million people.

Working animals are the tractors, trucks, taxis and guards of their communities – by supporting agriculture and transporting people, goods, food, water and firewood, and keep their homes safe, these animals enable people to make a living and ensure the survival of communities.

But despite the critical role they hold within their communities, welfare standards for working animals often remain poor. Many working animals lack access to even the most basic welfare standards. 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 2024, SPANA’s work was driven by the pursuit of the charity’s 2023 updated vision and mission. Our vision is a world where every working animal lives a healthy and valued life. Our day-to-day mission is to transform the welfare of working animals in a world where animals, people and the environment are respected and thrive.

To improve the welfare of working animals, SPANA operates in areas of greatest need across the worl ~~d. A~~ s part of our work to transform the lives of working animals, we:

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Where we work

In 2024, SPANA continued delivering its organisational strategy. Our global work spanned 22 countries as per table below, aligned to our strategy with the ultimate focus of transforming working animal welfare.

AFRICA ASIA/MIDDLE
EAST		 LATIN
AMERICA
Botswana
Cameroon
Ethiopia
Kenya
Malawi
Mali
Mauritania
Morocco
Mozambique
Namibia
Somalia
South Africa
Tanzania
Tunisia
Uganda
Zambia
Zimbabwe		 India
Iraq














 Guatemala
Honduras
Peru

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Five-year strategy 2023–2027

2024 marked the second year of our five-year organisational strategy, Transforming the Lives of Working Animals – SPANA Strategy 2023–27 . Our strategy outlines the approach the charity will take, as working animal welfare faces increasing pressure from challenges including the growing impact of climate change, global inequality, food insecurity, zoonotic diseases and rising local political instability. It explains how we will achieve more for working animal welfare without an equivalent increase in resources.

Our strategy has three core goals:

Goal 1: Welfare – The quality of life improves for working animals globally, at a greater scale than ever before

Goal 2: Worth – The contribution working animals make to people across the world is recognised and valued.

Goal 3: World – The world of working animals thrives and grows sustainably, as part of the nexus of animals, people and the environment.

The delivery of these strategic goals is underpinned by a fourth, enabling goal:

Goal 4: Harnessing our potential – Our charity builds its reputation and effectiveness as a pioneering, modern and global organisation, while delivering transformative change for working animal welfare.

Find out more about these goals and our measures of success for 2027 by reading our fiveyear strategy at spana.org/strategy

Throughout the duration 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.

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Objectives and achievements for 2024

SPANA achieved the following outcomes against the objectives planned for 2024.

Our charity

Our charity
Objective Achievements
•
Establish ESG principles.		 •
ESG principles integrated as part of our
operations include reviewing our travel
policy to take into consideration carbon
footprint within travel plans; our investment
portfolio consists of ethical investments; and
sustainable practices introduced for
meetings and gatherings – we use recycled
materials and avoid single use plastics,
encouraging staff to adopt these practices.
•
Further work to continue building on our
commitment to ESG will take place during
2025.
Ensure that SPANA’s governance
structure incorporates
recommendations from both the UK
and International Governance reviews.		 Following the governance review in 2023 a
number of recommendations have been
addressed during 2024. A few outstanding
recommendations will be addressed during
2025.
Audits were arranged for all Senior Partners *
and the SPANA Mali branch during the year
covering financial and operational areas. The
recommendations following the audits will be
implemented during 2025.

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Global Animal Welfare Programming

Global Animal Welfare Programming
Objective Achievements
Develop our work within a One Health
framework		 Good progress was made in this area, with new
policies and position statements developed and
rolled out across programmes on:
Position statement – Use of Anthelmintics
Position statement – Use of Antimicrobials
BiosecurityPolicy
Develop a quality assurance and
minimum standards framework and roll
out a pilot for delivery		 Building on the initial phase completed in 2023,
the drive for 2024 was two-fold: a pilot in
Mauritania, and the rollout of the first phase of
SPANA’s Animal Welfare protocols for French
speaking partner programmes. The outcome of
both were well delivered, with Animal Welfare
focal points appointed for each partner
programme, setting the platform for phase 3 in
2025.

* *Senior Partners are those partners that have had a long-term working relationship with SPANA and who have the largest programme of activities and receive the majority of grant funding.

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Global Animal Welfare Programming (continued)

Objective Achievements
Deliver an integrated competency
framework.		 The competency framework which bridges
the skills needed for all cohorts involved in
delivering SPANA’s animal welfare work,
was developed in 2024. 2025 will see this
integrated into partner programmes to
support continued professional
development across key animal health and
welfare and education teams
Develop pioneering animal welfare work
that recognises the interdependency of
animals, humans and the environment.		 SPANA assessed the adoption of its 2023
positions on anti-microbial resistance, the
use of anthelmintics and policy on
biosecurity. The review highlighted that
more work to communicate and embed
these will be needed during 2025, this will
be done in parallel to the roll out of
SPANA’s new quality-of-life tool and
harnessingstrategy.
Deliver new international partnership
strategy.		 SPANA remodelled its partnership
approach with the primary objective of
having a more sustainable and meaningful
impact. This included a review and refresh
of its due diligence, reporting and funding
criteria. Two new project partner new
funding mechanisms were rolled out in
2024: an Accelerator Fund (grants lasting
12 months or less), and a Transformation
Fund (grants extending over 2–5 years), as
well as the establishment of a new
Emergencyfund.
Develop global programme quality
guidance and capacity building, including
MEAL (Monitoring, Evaluation,
Accountabilityand Learning)framework.		 The data and reporting dashboard was fully
revised to have stronger data and graphic
representation of SPANA’s global reach
and impact measurement information.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2024

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Global Fundraising, Marketing and Communications

Objective Achievements
Generate £8.5m in income from donations,
gifts in Wills and Gift Aid.		 The charity received £9,459,003 in
voluntary income during 2024, thanks to the
kindness of our supporters.
Maintain prompted awareness of the
SPANA brand within key target audience at
9 per cent or higher.		 Promoted brand awareness for SPANA was
at an annual average of 9.8 per cent across
2024 – a record high for the charity, up from
2023’s 9.2 per cent average. Awareness
was driven by our brand, PR,
communications, social media and wider
fundraising and marketing activities and
organisational stakeholder engagement.
Develop and test a revitalised new brand
identity for the charity.		 Our brand development project began
during the summer of 2024, with initial
research and development work involving a
range of internal and external stakeholders.
Further testing and finalisation is due to
take place during the spring and summer of
2025, with the new brand due for launch in
the finalquarter of theyear.
Conduct a strategic review of SPANA
trading, with the aim of revitalising the
programme.		 The strategic review of SPANA trading was
completed during the summer of 2024 and
our revised, digital-first trading programme
will be launched in the summer of 2025.

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Global Resources

Global Resources
Objective Achievements
Develop a global organisational people and
culture plan.		 A Staff survey was undertaken to assist
with benchmarking and enhance culture
and EDI.
People and culture plan included holding
staff engagement days aimed at enhancing
engagement, connectivity, and
communication across the organisation.
The surveywill be repeated annually.
Roll out an integrated planning and budget
process for 2025.		 Revisions/updates made to the budget
template and training/support provided by
finance and programmes jointly to Senior
Partners. Finance training provided to the
Global Support Team and standardised
templates for workplans introduced.
Develop and implement global IT strategy. Key areas developed during the year
included maintenance of IT infrastructure
and equipment to ensure global staff
inclusivity; ensuring robust cybersecurity
measures in place to protect sensitive data
and maintain data integrity; ensure all staff
received user training on financial
systems/apps/processes and procedures;
ensuring staff globally connected to internal
systems.
A term of reference was developed for an
organisation systems review which will be
carried out during 2025, the outcome of
which will form part of the global IT strategy.
Deliver a drawdown plan for reserves to
maximise delivery of the strategy.		 A five-year 2025-2029 plan was developed
to drawdown on SPANA’s reserves, the
plan considers projected growth in
charitable programme activities and
income.
The drawdown plan aims to provide a
measured approach to managing SPANA's
excess reserves, balancing the need for
immediate investments with long-term
financial sustainability. The plan ensures
that SPANA is well-positioned to meet both
current and future challenges effectively
and deliver on our mission to support
working animal welfare

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SPANA Business Plan 2025

2025 marks the third year of our five-year organisational strategy, Transforming the Lives of Working Animals – SPANA Strategy 2023–27 . Priorities for this year will include the launch of our charity’s new brand identity, the expansion of our new approach to global programming and work across the world, the strengthening our organisational culture and the continuation of our work to build exemplary organisational infrastructure, including our global governance, safeguarding and resources. Through these activities and all the other areas highlighted in the 2025 Business Plan, we will increase our charity’s ability to transform the lives of working animals across the world, and will ultimately grow our organisation's global reach, influence and impact.

During each year of the strategy, SPANA’s key objectives will be established by an annual Business Plan, which sets objectives, priority activities and measures of success for the year. The key objectives set by the 2025 Business Plan include:

Our charity

Global Animal Welfare Programmes

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Global Fundraising, Marketing and Communications

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Risk management

SPANA operates through its network of partners cross multiple regions, often in complex environments, and as a result we are subject to a variety of risks and uncertainties that may have an impact on our colleagues and partners, operations, financial performance and reputation. Risk management is seen as a living process and managed accordingly to ensure a timely response. Formally, risks are 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 relevant to key areas at the Committee they relate to (for example, a safeguarding risk would be discussed at the People, Safeguarding & Governance Committee, while a financial risk would be considered at the Finance and Audit Committee). The organisation risk register is reviewed and discussed at quarterly Board meetings. Any new, critical risks, would be immediately referred to the Chair of Trustees and the wider Board, as appropriate.

Principal risks and uncertainties

Organisational level risks as identified in our risk register as follow:

Governance Risk:

Effective governance is essential to the success of the organisation. Management acknowledges the importance of sound governance practices and the risks posed by inadequate governance, particularly in relation to compliance with the Charity Commission and other regulatory bodies. To address these risks, steps were taken following a UK & International Governance review in 2023 to enhance our governance framework, policies, and procedures, ensuring they remain relevant, effective, and fit for purpose.

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 error, 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.

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Safeguarding and Security Risk:

SPANA operates in regions and environments where safeguarding and security risks are of particular concern. Management fully recognises the critical importance of safeguarding and security, as well as the significant risks associated with inadequate practices in these areas. To mitigate these risks, a comprehensive safeguarding and security framework has been developed, alongside robust policies and procedures. These measures were designed to address potential vulnerabilities and ensure the safety and well-being of all stakeholders. Full implementation of this framework took place throughout 2024, reinforcing our commitment to maintaining the highest standards of safeguarding and security across all operations.

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:

As SPANA continues to operate globally, particularly in some of the world’s most challenging and volatile environments, we remain acutely aware of the risks posed by an ever-changing external landscape. Geopolitical instability, such as ongoing tensions in certain regions, as well as the significant reduction of funding from major donors like USAID, presents direct threats to the communities we serve—many of which rely on working animals for their livelihoods. These factors create uncertainty, not only affecting the availability of resources but also heightening vulnerability in already fragile contexts.

In response, SPANA has strengthened its risk management framework, with a focus on disaster risk reduction and resilience-building in our programs. These measures are designed to mitigate the impact of external volatility where possible and ensure our work continues to support the communities and working animals that are most at risk. Despite the challenges, we remain committed to adapting to these changing conditions, ensuring that our programming remains effective and sustainable in the face of such volatility.

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Economic uncertainty:

We continue to operate in a highly volatile global economic environment, where the ongoing pressures of inflation, the cost-of-living crisis, and broader financial instability are impacting not only the UK but also all our country and partner offices. Within this challenging context, SPANA’s reliance on the UK charity giving market—our primary source of income—and the global voluntary giving market, presents a key risk to the charity’s financial sustainability.

In response to this, SPANA is revising its approach to organisational reserves by adopting a risk-based reserves model. This model is designed to ensure that we remain adaptable in times of economic fluidity and can flex in response to changes in the external environment. By aligning our reserves with potential risks, we aim to maintain sufficient financial resilience to navigate periods of economic uncertainty, ensuring the continuity of our vital work.

Actions already taken to mitigate this risk include:

These measures reflect our commitment to navigating economic uncertainty with resilience and adaptability, securing SPANA’s ability to continue our mission even in difficult times.

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Report by the Board of Trustees (incorporating the Report of the Directors) For the year ended 31 December 2024

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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 £9,958,031, which represents a 4 per cent increase from the previous year. The operational total income increased by 5 per cent compared to the prior year. This was mainly driven by an increase in both donations and legacies. Voluntary donations, excluding legacies, were £3,783,362 in 2024 (2023: £3,615,025) representing an increase of 5 per cent compared to the prior year. Legacy income was £5,675,640 (2023: £5,501,707), representing an increase of 3 per cent compared to the prior year, with a further estimated value of notified legacies standing at £4.6m in total, yet to be received. As a proportion of total income, legacies contributed 57 per cent (2023: 58 per cent).

Charitable expenditure was £7,198,358 in 2024 (2023: £5,643,469).

The net (expenditure)/income for the year before net gains on investments was (£309,572) (2023: £1,325,259).

At the end of the financial year, the net assets position was £17,609,764 (2023: £16,906,894) representing an increase from the previous year. This was mainly driven by the increase in donations and legacies and net gains on investments. Net assets include restricted funds of £62,784 and a designated fund of £2,064,623 (see note 11 for details). The general fund of £15,482,357 (2023: £13,405,586) will be available to 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 12(a).

The Society for the Protection of Animals Abroad (Australia) Limited, which was established to promote the charity’s fundraising programmes, made a profit in its sixth year of operation. Details of this subsidiary can be found in note 12(b).

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Our investment portfolio continued to perform well during the year with an unrealised gain of £1,012,442 (2023: £664,470).

SPANA has continued to operate using a temporary office within the Co-Work building in the London Bridge area. This has successfully provided a venue for secure mail processing and staff meetings, as well as providing a workplace for staff. For the longer term, SPANA will be looking at the best options for establishing a permanent base for its Global Support Team to 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. A designated fund of £2,000,000 has been established to support the purchase of a new workplace if this is considered the best option from a value for money perspective.

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 on 31 December 2024 were £17,609,764 (2023: £16,906,894).

Restricted reserves at 31 December 2024 were £62,784 (2023: £236,442). 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 18a.

Total unrestricted reserves on 31 December 2024 were £17,546,980 (2023: £16,670,452) and are those available for use at the Trustees’ discretion. Within total unrestricted funds are designated funds totalling £2,064,623 (2023: £3,264,866). Designated funds represent the net book value of the charity’s fixed and intangible assets, as well as a fund allocated for the purposes of securing new premises in UK. Further details are provided in Note 18a. The remaining free reserves at 31 December 2024 were £15,482,357 (2023: £13,405,586), representing 89 weeks’ forward expenditure against a reserves target of 26 weeks (c£4.5m). It is SPANA’s intention to use these excess reserves to maximise its charitable objectives in line with its strategy delivering impact for working animal welfare. The free reserves fall within the Chief Executive’s recommended five-year plan FY 2025-2029 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.

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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.

A forecast has been prepared which considers expected financial performance up to December 2027. 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.

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 to maximise the return to SPANA. However, in doing this, they are directed by SPANA to screen investments

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from an ethical standpoint 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 2024 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-today 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, the Mali branch and SPANA Trading Limited, a UK trading subsidiary. The subsidiary in Australia, along with the UK trading subsidiary, are wholly owned by the charity.

The Society for the Protection of Animals Abroad (Australia) Limited was established in February 2017 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. Following a strategic review of our trading activities during 2024, it was decided to end the sale of SPANA merchandise during 2025.

Details of related party transactions are shown in note 8 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).

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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 2024 is 97 (2023: 100) and their liability on a liquidation is limited to £1 each. All members have full voting rights under the charity's Articles of Association.

The Trustees

SPANA’s Board of Trustees comprised six members of the charity on 31 December 2024 (see page 31). 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.

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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 in 2024 comprised the Chief Executive; Director of Global Programmes; Director of Global Resources; 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 & Governance Committee.

The members of the Senior Leadership Team are not directors of the charity under company law.

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.

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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 strengthen our safeguarding, we conducted safeguarding training across our global programmes and global support team in 2024. These training sessions were conducted in English, French and Arabic. We now plan to expand our training and awareness activities 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 goal 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 2024 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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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 2024, our fundraising, marketing and communications programme aimed to maximise awareness, support and net income for the charity. 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; and building SPANA’s public position as the ‘voice of working animals’. We also began work on a brand development project, which will lead to the launch of a revitalised charity brand in 2025; and conducted a strategic review of our Happy Hooves retail product line, which will be relaunched with an increased digital focus during the summer of 2025.

The focused pursuit of our strategic objectives, coupled with the continued generosity of our supporters, delivered income of £9,655,239 during 2024. Meanwhile, prompted awareness of the SPANA brand, as measured by independent brand tracking organisation nfpResearch, tracked at a record average of 9.8 per cent during 2024, up on 2023’s 9.2 per cent.

Our key fundraising activities in 2024 included appeals in Spring, Summer and Winter. Our Spring appeal focused on the work of SPANA mobile clinics and their provision to veterinary treatment and care to working animals in remote and difficult-to-reach communities; our Summer appeal highlighted the plight of working animals who experience or are at risk of harm from road-traffic accidents; and our Winter appeal was themed around our work supporting donkeys who work in India’s brick kilns.

We continued to build on the strong results of our legacy marketing programme with ongoing promotion of legacies across our publications, website and social media channels. Our donor base comprised 32,310 individuals and organisations in 2023 – down 4 per cent from our 2023 figure (33,687).

2024 was a successful year for our awareness raising activities. The charity maintained a social media audience of more than 400,000 followers during the year (including 368,360 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 our International Working Animal Day and World Animal Day campaigns and the promotion of our working dogs project in Malawi.

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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 thirdsector 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.

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 regard 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 2024, the charity continued to primarily operate our fundraising, marketing and communications programme remotely, with staff primarily working from home. A London Royal Mail PO Box address has continued to be used for postal mail, which is securely processed by SPANA staff. Meanwhile, phone calls to our main switchboard number are 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 2024, the charity recorded 87 complaints, down from 121 in 2023, 129 in 2022,198 in 2021, 179 in 2020 and 233 in 2019. The majority of these complaints (25) concerned mailing and fulfilment matters 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 and the regularity of our mailings (19). 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.

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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 2024.

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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

Ms M S Davies BA (Hons) MCIPD – Appointed as Chair of Trustees 25 March 2024 (3) Dr Mary-Lorraine Hughes BSc (Hons) MBA PhD – Resigned as Chair of Trustees 25 March 2024; resigned as Trustee 5 April 2024 (1) (3)

Mr Philip Alvey ACA –Appointed 20 January 2025 (1) (Appointed Honorary Treasurer 23 April 2025)

Ms Samantha Bunis – Appointed 20 January 2025 (4) Ms I D P Dos Santos BVetMed FRCVS – Resigned 24 February 2024 (4) Mr A J W Firby BA (Hons) MSc Chartered FCIPD (3) (4) Dr Gayle Hallowell MA VetMB PhD CertVA DACVIM DACVECC PFHEA FRCVS – Appointed 20 January 2025 (2) Ms J Hunter ACMA – Resigned 4 October 2024 (1) Ms M Lance (2) (4) Ms M Liszewski BSc MSc (2) Dr Mwenda Mbaka – Appointed 20 January 2025 (2) Dr David Mole, BA (Hons), MA, MPhil, PhD, MInstF Cert. – Appointed 20 January 2025 (4) Miss S Shanks BVSc MPH MFPH MRCVS (2) Mr S Simmons FCA (Honorary Treasurer) – Resigned 23 April 2025 (1) Mr Barry Topham MBA – Appointed 20 January 2025 (3) Ms Leah Wanjiku Kihara – Appointed 20 January 2025 (1)

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

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Chief Executive:

Ms Linda Edwards

Director of Global

Fundraising, Marketing and Communications:

Mr David Bassom BSc (Hons) MFIA – Resigned 30 April 2025

Director of Global Programmes:

Mr Kit Vaughan MSc – from 2 September 2024

Director of Global Resources:

Ms Gita Patel BSc (Hons) FCCA

Director of Global Programmes

(Interim): Ms Jen Steele BA ( cum laude ) MA – to 1 September 2024

Director of Global Animal Welfare:

Dr Linda Evans BVetMed MRCVS – Resigned 19 January 2024

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:

Sayer Vincent LLP 110 Golden Lane London EC1Y 0TG

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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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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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.

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Auditor

A resolution to re-appoint Sayer Vincent LLP will be presented at the Annual General Meeting.

The Trustees' annual report, which includes the strategic report, was approved on 10 June 2025 and signed on their behalf by:

SIGNATURE

Marianne Davies Chair of Trustees

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Independent auditor’s report to the members of The Society for the Protection of Animals Abroad

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Opinion

We have audited the financial statements of The Society for the Protection of Animals Abroad (the ‘parent charitable company’) and its subsidiary/subsidiaries (the ‘group’) for the year ended 31 December 2024 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

Give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 December 2024 and of the group’s resources and application of resources, including its income and expenditure, for the year then ended

Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011

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 group financial statements section of our report. We are independent of the group and parent charitable company 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 trustees' 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 Society for the Protection of Animals Abroad'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.

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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 other information comprises the information included in the trustees’ annual report, including the strategic report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group 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 group financial statements or our knowledge obtained in the course of 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 group 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.

Opinions on other matters prescribed by the Companies Act 2006

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

The information given in the trustees’ annual report, including the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statements

The trustees’ annual report, including the strategic report, has been prepared in accordance with applicable legal requirements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report, including the strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

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Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent 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 group’s and the parent 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 group or the parent 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

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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We enquired of management, and of internal auditors, which included obtaining and

reviewing supporting documentation, concerning the group’s policies and procedures relating to:

We inspected the minutes of meetings of those charged with governance.

We obtained an understanding of the legal and regulatory framework that the charity/ group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity/group from our professional and sector experience.

We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

We reviewed any reports made to regulators.

We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

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Independent auditor’s report to the members of The Society for the Protection of Animals Abroad

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 and section 144 of the Charities Act

2011 and regulations made under section 154 of that Act. 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.

Jonathan Orchard (Senior statutory auditor)

Date:12 June 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

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The Society for the Protection of Animals Abroad

Consolidated statement of financial activities

(incorporating an income and expenditure account)

For the year ended 31 December 2024

Consolidated statement of financial activities
(incorporating an income and expenditure account)
For theyear ended 31 December 2024		 Consolidated statement of financial activities
(incorporating an income and expenditure account)
For theyear ended 31 December 2024
Unrestricted
Note
£
Income from:
2
9,558,983
67,580
235,212
-
9,861,775
3
2,946,048
38,076
85,121
3
5,079,571
3
1,848,873
9,997,689
1,012,442
5
876,528
876,528
Reconciliation of funds:
16,670,452
17,546,980
Total funds brought forward
Total funds carried forward
Net movement in funds
(135,914)
Trading activities
Raising funds
Net income / (expenditure) for the year
Total expenditure
Net income / (expenditure) before net
gains / (losses) on investments
Charitable activities
Treatment of sick animals
Education
Net gains / (losses) on investments
Cost of generating voluntary income
Fundraising trading: cost of goods sold
Investment management costs
Investments
Other
Total income
Expenditure on:
Donations and legacies		 Restricted
£
96,256
-
-
-		 2024
Total
£
9,655,239
67,580
235,212
-
9,958,031
2,946,048
38,076
85,121
5,349,485
1,848,873
10,267,603
1,012,442
702,870
702,870
16,906,894
17,609,764
(309,572)		 Unrestricted
£
8,973,056
63,390
270,003
590		 Restricted
£
248,682
-
-
-		 2023
Total
£
9,221,738
63,390
270,003
590
9,861,775 96,256 9,307,039 248,682 9,555,721
2,946,048
38,076
85,121
5,079,571
1,848,873		 -
-
-
269,914
-		 2,468,392
38,748
79,853
3,824,529
1,367,173		 -
-
-
416,178
35,589		 2,468,392
38,748
79,853
4,240,707
1,402,762
9,997,689 269,914 7,778,695 451,767 8,230,462
1,012,442
(135,914)		 -
(173,658)		 664,470
1,528,344		 -
(203,085)		 664,470
1,325,259
876,528 (173,658) 2,192,814 (203,085) 1,989,729
876,528
16,670,452		 (173,658)
236,442		 2,192,814
14,477,638		 (203,085)
439,527		 1,989,729
14,917,165
17,546,980 62,784 16,670,452 236,442 16,906,894

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 29a to the financial statements.

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The Society for the Protection of Animals Abroad

Company no. 558085

Consolidated and charity balance sheet

As at 31 December 2024

Note
Fixed assets:
10
10
11
Current assets:
14
15
Liabilities:
16
18a
Total unrestricted funds
Intangible assets
Total assets less current liabilities
Stock
Debtors
Funds:
Creditors: amounts falling due within one year
Net current assets
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
Investments
Cash at bank and in hand
Tangible assets
Total funds		 2024
2023
£
£
30,488
15,687
34,135
45,520
14,744,136
13,612,281
14,808,759
13,673,488
6,918
12,018
710,876
552,403
2,843,691
3,256,051
3,561,485
3,820,472
(760,481)
(587,066)
2,801,004
3,233,406
The group		 2024
2023
£
£
30,488
15,687
34,135
45,520
14,744,136
13,612,281
14,808,759
13,673,488
6,918
12,018
710,876
552,403
2,843,691
3,256,051
3,561,485
3,820,472
(760,481)
(587,066)
2,801,004
3,233,406
The group		 2024
2023
£
£
30,488
15,687
34,135
45,520
14,744,137
13,612,282
14,808,760
13,673,489
-
-
862,216
588,245
2,453,827
3,059,104
3,316,043
3,647,349
(739,316)
(543,758)
2,576,727
3,103,591
The charity		 2024
2023
£
£
30,488
15,687
34,135
45,520
14,744,137
13,612,282
14,808,760
13,673,489
-
-
862,216
588,245
2,453,827
3,059,104
3,316,043
3,647,349
(739,316)
(543,758)
2,576,727
3,103,591
The charity
14,808,759
6,918
710,876
2,843,691		 13,673,488
12,018
552,403
3,256,051		 14,808,760
-
862,216
2,453,827		 13,673,489
-
588,245
3,059,104
3,561,485
(760,481)		 3,820,472
(587,066)		 3,316,043
(739,316)		 3,647,349
(543,758)
2,801,004 3,233,406 2,576,727 3,103,591
17,609,764 16,906,894 17,385,487 16,777,080
62,784
2,064,623
15,482,357		 236,442
3,264,866
13,405,586		 62,784
2,064,623
15,258,080		 236,442
3,264,866
13,275,772
17,546,980 16,670,452 17,322,703 16,540,638
17,609,764 16,906,894 17,385,487 16,777,080

Approved by the trustees on 10 June 2025 and signed on their behalf by

Marianne Davies Chair

Philip Alvey Treasurer

42

The Society for the Protection of Animals Abroad

Consolidated statement of cash flows

For the year ended 31 December 2024

Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
(Gains)/losses on investments
Dividends, interest and rent from investments
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents and of net debt
Cash at bank and in hand
Total cash and cash equivalents
Cash and cash equivalents at the beginning of the
year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash flows from operating activities
Net cash provided by investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Proceeds from sale of investments
Purchase of investments		 £
£
702,870
30,590
(1,015,999)
(235,212)
5,100
(158,473)
173,415
(497,710)
235,212
(34,006)
-
(115,856)
85,350
(412,360)
3,256,051
2,843,691
At 1 January
2024
Cash flows
£
£
3,256,051
(412,360)
3,256,051
(412,360)
2024		 £
£
702,870
30,590
(1,015,999)
(235,212)
5,100
(158,473)
173,415
(497,710)
235,212
(34,006)
-
(115,856)
85,350
(412,360)
3,256,051
2,843,691
At 1 January
2024
Cash flows
£
£
3,256,051
(412,360)
3,256,051
(412,360)
2024		 £
£
1,989,729
34,008
(668,599)
(253,025)
8,019
(60,133)
165,537
1,215,536
253,025
-
500,000
(173,172)
579,853
1,795,389
1,460,662
3,256,051
Other non-
cash
changes
At 31
December
2024
£
£
2,843,691
2,843,691
2023		 £
£
1,989,729
34,008
(668,599)
(253,025)
8,019
(60,133)
165,537
1,215,536
253,025
-
500,000
(173,172)
579,853
1,795,389
1,460,662
3,256,051
Other non-
cash
changes
At 31
December
2024
£
£
2,843,691
2,843,691
2023
(497,710)
85,350		 1,215,536
579,853
At 1 January
2024
£
3,256,051		 Other non-
cash
changes
£
(412,360)
3,256,051		 1,795,389
1,460,662
2,843,691 3,256,051
Cash flows
£
(412,360)		 At 31
December
2024
£
2,843,691
3,256,051 (412,360) 2,843,691

43

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

1 Accounting policies

a) Statutory information

The Society for the Protection of Animals Abroad is a charitable company limited by guarantee and is incorporated in England and Wales. The Society is a Public Benefit Entity registered with the Charity Commission under number 209015.

The number of members at 31 December 2024 is 97 (2023: 104) and their liability on a liquidation is limited to £1 each.

The registered office address is 55 Ludgate Hill, London, EC4MN 7JW and principal place of business is Three Tuns House, 109 Borough High Street, London, SE1 1NL.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006/Charities Act 2011.

These financial statements consolidate the results of the charity and its wholly-owned subsidiaries SPANA Trading Limited (registered number 5701201) and The Society for the Protection of Animals Abroad (Australia) Limited (ACN 617228109) on a line by line basis. Transactions and balances between the charity and its subsidiaries have been eliminated from the consolidated financial statements. Balances between the three entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006, A summary of the result for the year is disclosed in the notes to the accounts.

SPANA's branch entity in Mali has not been consolidated as part of the group financial statements. The transactions and balances are not material in nature. Amounts transferred to the branch are included under note 4.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

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, fundraisingactivities 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.

A forecast has been prepared which considers expected financial performance up to July 2026. 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-today operations.

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

44

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

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.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

45

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

  - Costs of generating 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.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

46

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

44%

 Education 22%

 Fundraising 32%

 Governance costs 2%

Governance costs are the costs associated with the governance arrangements of the charity. These costs

Depreciation/Amortisation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation/amortisation rates in use are as follows:

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.

Freehold Building 50 years
Furniture, fittings and equipment 5 years
Computers 3 - 5 years
Intangibles 3 - 5 years

m) Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

47

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pension contributions are made to a defined contribution scheme on behalf of eligible employees

Donations
Legacies
Trusts		 Unrestricted
£
3,753,346
5,675,640
129,997		 £
30,016
-
66,240
Restricted		 2024
Total
£
3,783,362
5,675,640
196,237		 Unrestricted
£
3,400,362
5,496,364
76,330		 £
214,663
5,343
28,676
Restricted		 2023
Total
£
3,615,025
5,501,707
105,006
9,558,983 96,256 9,655,239 8,973,056 248,682 9,221,738

The estimated value of residuary legacies, notified to SPANA prior to 31 December 2024 and expected to be received in future years, is £4.6 million(2023: £5.1million).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.

48

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

3a Analysis of expenditure (current year)

Analysis of expenditure (current year)
Charitable activities by country
Botswana
Ethiopia
Mali
Mauritania
Morocco
Tunisia
Zimbabwe
Other countries
Total expenditure 2024		 Charitable activities 2024 Total
£
-
1,208,650
953,551
1,551,252
1,362,337
524,757
795,132
802,679		 2023
Total
£
54,191
700,029
688,501
1,491,885
1,293,719
547,864
426,390
440,890
Treatment
of sick
animals
£
-
615,501
763,345
1,149,387
1,162,952
424,394
577,313
656,593		 Education
£
-
593,149
190,206
401,865
199,385
100,363
217,819
146,086
1,848,873
5,349,485 7,198,358 5,643,469

3b Analysis of expenditure (current year)

3b
Analysis of expenditure (current year)
Charitable activities by type of expenditure
Note
Treatment
of sick
animals
Education
£
£
Direct funding for overseas projects
2,917,388
814,537
Grants payable for project funding
656,593
146,086
Staff costs
1,157,935
578,967
Other support costs
3d
572,751
286,375
Governance
3e
44,819
22,908
Total expenditure 2024
5,349,485
1,848,874
3c Cost of generating voluntary income
Staff costs
Other direct costs
Governance costs
Allocated overheads
Depreciation/amortisation
3d Other Support costs related to charitable activities
Training & development
Professional costs
IT costs
Office costs
3e Governance costs related to charitable activities
Staff costs allocation
Support costs allocation
Professional fees
Charitable activities		 Charitable activities 2024 Total
£
3,731,925
802,679
1,736,902
859,126
67,727		 2023
Total
£
3,197,006
440,890
1,490,498
457,426
57,649
Treatment
of sick
animals
£
2,917,388
656,593
1,157,935
572,751
44,819		 Education
£
814,537
146,086
578,967
286,375
22,908
1,848,874
5,349,485 7,198,359 5,643,469
2024
842,134
1,623,625
31,871
438,628
9,789		 2023
722,666
1,483,069
27,129
224,565
10,963
2,946,048 2,468,392
2024
106,491
369,408
77,828
305,400		 2023
56,699
196,684
41,438
162,604
859,126 457,426
2024
35,790
17,703
14,234		 2023
30,713
9425
17511
67,727 57,649

49

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

3f Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Charitable activities by country
Botswana
Ethiopia
Mali
Mauritania
Morocco
Tunisia
Zimbabwe
Other countries
Total expenditure 2023		 Charitable activities 2023 Total
£
54,191
700,029
688,501
1,491,885
1,293,719
547,864
426,390
440,890
5,643,469		 2022
Total
£
104,244
932,398
280,797
1,260,302
1,539,824
606,617
705,186
286,941
Treatment
of sick
animals
£
44,259
351,558
548,042
1,097,278
1,099,777
440,674
307,180
351,939
4,240,707		 Education
£
9,932
348,471
140,459
394,607
193,942
107,190
119,210
88,951
1,402,762
5,716,309

3g Analysis of expenditure (prior year)

Charitable activities by type of expenditure
Charitable activities by type of expenditure
Direct funding for overseas projects
Grants payable for project funding
Staff costs
Support costs
Governance costs
Total expenditure 2023		 Charitable activities 2023 Total
£
3,197,006
440,890
1,490,498
457,426
57,649
5,643,469		 2022
Total
£
286,941
1,388,096
3,486,418
480,801
74,052
Treatment
of sick
animals
£
2,552,002
351,939
993,665
304,951
38,150
4,240,707		 Education
£
645,004
88,951
496,833
152,475
19,499
1,402,762
5,716,308

3h Cost of generating voluntary income (prior year)

Cost of generating voluntary income (prior year)
Staff costs
Other direct costs
Governance costs
Allocated overheads
Depreciation/amortisation		 2023
722,666
1,483,069
27,129
224,565
10,963
2,468,392		 2022
673,016
1,449,279
34,848
222,449
10,667
2,390,259

50

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

Grant making
Organisation
Grant Description
Closed 2023
Botswana		 2024
£
-
718,322
594,274
904,380
811,428
297,869
460,546
29,791
10,580
42,288
29,281
17,481
10,790
14,519
22,016
29,312
27,215
36,294
33,997
43,608
47,544
18,059
14,996
30,133
-
7,537
5,215
8,938
7,973
10,122		 2023
£
20,334
363,411
394,435
906,360
771,805
336,382
245,579
-
13,008
-
-
34,726
-
22,535
-
-
22,079
-
5,150
6,972
-
-
26,882
29,797
50,639
32,024
22,109
13,579
28,644
11,722
Veterinary,CommunityTrainingand Education Programmes
Ethiopia
Mali
Veterinary,CommunityTrainingand Education Programmes
Mauritania
Veterinary,CommunityTrainingand Education Programmes
Morocco
Veterinary,CommunityTrainingand Education Programmes
Tunisia
Veterinary,CommunityTrainingand Education Programmes
Zimbabwe
Veterinary,CommunityTrainingand Education Programmes
International Organization for Animal
Protection,Cameroon
Enhancinghealth and welfare of donkeys in Cameroon
Advocacyfor animal welfare across Africa
AU IBAR,Kenya
Africa Network for Animal Welfare,Kenya
EnhancingDonkeyWelfare and Health
Benadir University,Somalia
DonkeyIntervention
Tanzania Animal Welfare Society
Improvingthe lives workingdonkeys
Tanzania Animals Protection Organization
Drought emergencyIntervention
DonkeyWelfare Education
Arusha Society for The Protection of Animals,
Tanzania
Educational programs on proper donkeys and Oxen care and
diseaseprevention
Voluntary Education and Relief Initiative for
Tanzanian Society
African DonkeyWelfare Project
Meru Animal Welfare Organisation,Tanzania
Caring for the needy working animals, training their
community
Animal Welfare and Protection Organisation,
Uganda
Foundation
for
Development
of
Children,
Zambia
WorkingAnimals Welfare Support Project
WorkingDogWelfare
Lilongwe Society for the Protection and Care
of Animals,Malawi
Education,Intervention and Skills Building- WorkingEquine
Maun Animal Welfare Society,Botswana
Working Animals as a means to strengthen livelihoods and
communityresilience in vulnerable communities
Fundación
Equinos
Sanos
para
El
Pueblo,
Guatemala
Integrated community animal health worker training in donkey
welfare
Equitarian Initiative,Peru
DonkeySanctuaryWelfare Association,India
Workingequines outreachprogramme
~~Mobile Clinic and Community Education for Welfare of Working~~
Animals
Action for Protection of Wild Animals,India
Camel Welfare Project
Helpin Suffering,India
Empowering the communities to promote welfare of working
buffalo
Institute of Social Research and Development,
India
WorkingAnimal Welfare Development Programme
Kurdistan
Organization
for
Animal
Rights
Protection,Iraq
WorkingAnimal Welfare Project
Society for the Prevention of Cruelty to
Animals of Namibia
Bahananwa DonkeyWelfare and Livelihood Support Initiative
Village Health,South Africa
Grants under £10,000
Total
4,284,508 3,358,172

All grants are made to independents entities except for Mali, which is a branch of SPANA.

51

The Society for the Protection of Animals Abroad

7 Staff numbers

Notes to the financial statements

For the year ended 31 December 2024

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2024 2023
£ £
Depreciation/Amortisation 30,590 34,008
Trustees Expenses 1,828 1,512
Auditor's remuneration (excluding VAT):
Audit 26,000 33,500
Audit Fee for non audit services - 10,000
Audit fee for overseas subsidiaries (Pitcher Partners in Australia $20,000) - 9,653
Foreign exchange gains or losses 11,134 14,485
Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Salaries and wages
Social security costs
Pension costs
Other staff costs
Staff costs were as follows:
Redundancy and termination costs		 2024
£
1,819,469
13,492
188,311
146,931
302,117		 2023
£
1,738,464
15,260
181,380
156,253
57,900
2,470,320 2,149,257

The redundancy and termination costs were settled and paid at the balance sheet date.

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:


the year between:
2024 2023
No. No.
£60,000 - £69,999 1 1
£70,000 - £79,999 - 1
£80,000 - £89,999 - 1
£90,000 - £99,999 1 -
£100,000 - £109,999 1 1
£110,000 - £119,999 - 1
£120,000 - £129,999 1 -

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £475,891 (2023: £471,295).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £1,828 (2023: £1,512) incurred by 5 (2023: 5) members relating to attendance at meetings of the trustees.

The average number of employees (head count based on number of staff employed) during the year was 37 in the UK and 4 overseas (2023: 35 in the UK and 4 overseas).

52

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

8 Related party transactions

Aggregate donations from Trustees were £255 (2023: £4,647).

9 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiary SPANA Trading Limited distributes under Gift Aid available profits to the parent charity. Its charge to corporation tax in the year was nil (2023: nil):

10 Tangible assets

The Group and Society

The Group and Society
At the end of the year
Depreciation
Additions in year
Cost
At the start of the year
Net book value
Charge for the year
At the end of the year
At the start of the year
At the end of the year		 Computer
equipment
£
31,524
34,006		 Fixtures, fittings and
equipment
£
7,222
-
7,222
7,222
-
7,222
-		 Total
£
38,746
34,006
65,530 72,752
15,837
19,205		 23,059
19,205
35,042 42,264
30,488 30,488

All of the above assets are used for charitable purposes.

Intangible assets

The Group and Society

The Group and Society
Charge for the year
At the end of the year
Cost
At the end of the year
Amortisation
At the end of the year
Net book value
At the start of the year
At the start of the year		 Software and Systems
£
117,407
117,407
71,887
11,385
83,272
34,135		 Total
£
117,407
117,407
71,887
11,385
83,272
34,135

All of the above assets are used for charitable purposes.

53

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

11
a)
b)
Valuation at 31 December 2024
Listed Investments
Alternative investments - hedge funds
Management Fees
Net investment gains/(losses) for the year
Investments (note 11b)
Investments
Funds withdrawn
Reinvested income
Overseas equities
Investments comprise:
UK equities
Cash
UK fixed interest securities
Valuation at 1 January 2024
Funds Introduced
Investments in Subsidiary (note 12)		 2024
2023
£
£
14,744,136
13,612,281
-
-
The Group		 2024
2023
£
£
14,744,136
13,612,281
-
-
The Group		 2024
2023
£
£
14,744,136
13,612,281
1
1
The Society		 2024
2023
£
£
14,744,136
13,612,281
1
1
The Society
14,744,136 13,612,281 14,744,137
2024
13,612,281
1,000,000
(1,000,000)
200,977
(85,121)
1,015,999		 13,612,282
2023
13,270,510
-
(500,000)
253,025
(79,853)
668,599
14,744,136 13,612,281
2024
2023
£
£
1,647,013
2,817,847
5,979,265
5,496,355
6,179,172
4,078,431
73,189
54,914
865,497
1,164,734
The Society
14,744,136 13,612,281

54

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

12 Subsidiary undertakings

The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distrbuted under Gift Aid to the parent charity. The trustee Mr Philip Alvey ACA together with the Director of Global Resources, Ms Gita Patel BSc (Hons) FCCA , are also directors of the subsidiary.

A summary of the results of the subsidiary is shown below:


subsidiary.
A summary of the results of the subsidiary is shown below:
Management charge payable to parent undertaking
Total retained earnings brought forward
Reserves
Retained earnings
Liabilities
Distribution under Gift Aid to parent charity
Profit / (loss) for the financial year
Profit / (loss) on ordinary activities before taxation
The aggregate of the assets, liabilities and reserves was:
Assets
Total retained earnings carried forward
Profit / (loss) for the financial year
Taxation on profit on ordinary activities
Gross profit/(loss)
Administrative expenses
Turnover
Cost of sales
Profit/(loss) on ordinary activities before interest and taxation		 2024
£
67,580
(38,076)		 2023
£
63,390
(38,748)
29,504
(96)
(20,000)		 24,642
-
(24,000)
9,408 642
9,408
-		 642
-
9,408 642
-
9,408
(9,408)		 -
642
(642)
- -
19,598
(19,597)		 25,436
(25,435)
1 1

Amounts owed to the parent undertaking are shown in note 15.

The subsidiary is used for Fundraising activities. All activities have been consolidated on a line by line basis in the statement of financial activities.

None of the Trustees or staff members are Directors of the subsidiary. A summary of the results of the subsidiary is shown below:

A summary of the results of the subsidiary is shown below:
None of the Trustees or staff members are Directors of the subsidiary.

activities.
The aggregate of the assets, liabilities and reserves was:
Assets
Reserves
Turnover
Charitable and administrative expenses
Liabilities
Surplus/(Deficit) for the year		 2024
£
433,243
(331,825)
101,418		 2023
£
399,846
(344,375)
55,471
382,030
(155,542)
226,488		 210,437
(80,802)
129,635

Amounts owed to the parent undertaking are shown in note 15.

55

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

13 Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

2024 2023
£ £
Gross income 9,586,437 9,087,126
Result for the year 608,408 1,859,916
14 Stock
The group The society
2024 2023 2024 2023
£ £ £ £
Trading stock 6,918 12,018 - -
6,918 12,018 - -
15 Debtors
The group The society
2024 2023 2024 2023
£ £ £ £
Other debtors 34,125 22,672 34,125 22,672
Gift Aid and recoverable taxes 53,483 59,025 49,075 40,130
Amounts due from subsidiary undertakings - - 156,186 62,749
Prepayments and accrued income 623,269 470,706 622,831 462,694
710,876 552,403 862,216 588,245
16 Creditors: amounts falling due within one year
The group The society
2024 2023 2024 2023
£ £ £ £
Trade creditors 215,609 159,283 205,406 126,148
Taxation and social security 96,882 55,235 96,882 55,235
Grants payable 249,429 192,732 249,429 192,732
Other creditors and accruals 198,560 179,816 187,598 169,643
760,480 587,066 739,315 543,758
17a Analysis of group net assets between funds (current year)
General Restricted
unrestricted Designated funds funds Total funds
£ £ £ £
Tangible assets - 30,488 - 30,488
Intangible assets - 34,135 - 34,135
Investments 12,744,136 2,000,000 - 14,744,136
Net current assets 2,738,220 - 62,784 2,801,004
Net assets at 31 December 2024 15,482,356 2,064,623 62,784 17,609,764
17b Analysis of group net assets between funds (prior year)
General Restricted
unrestricted Designated funds funds Total funds
£ £ £ £
Tangible fixed assets - 15,687 - 15,687
Intangible fixed assets - 45,520 - 45,520
Investments 11,612,281 2,000,000 - 13,612,281
Net current assets 1,793,305 1,203,659 236,442 3,233,406
Net assets at 31 December 2023 13,405,586 3,264,866 236,442 16,906,894

56

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

18a Movements in funds (current year)

Movements in funds (current year)
Total restricted funds
Total designated funds
General funds
Fixed Assets
Intangible Assets
Total unrestricted funds
Morocco Mobile Clinics
Property Purchase
Mali Book
Total funds
Designated funds:
Minilabs
Small Funds Under £5,000
Unrestricted funds:
Ethiopia Gondor
Xray and Ultrasound Machines
University of Liverpool for AAU Ethiopia CVMA
Morocco Emergency Fund
Wellbeing and Welfare of Horses and Donkeys
Farrier
Mali Mobile Clinic
Global Investment Fund
Zimbabwe
Educational Fund
Restricted funds:		 £
19,324
11,115
35,913
7,143
15,176
131,836
5,343
-
-
-
-
-
10,592
At 1 January 2024		 £
-
-
25,888
-
-
39,703
-
4,010
4,500
5,000
6,114
5,000
6,041
Income & gains		 £
-
-
(61,801)
-
-
(171,539)
(5,343)
(4,010)
(4,500)
-
(6,114)
(5,000)
(11,607)
Expenditure & losses		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
Transfers		 £
19,324
11,115
-
7,143
15,176
-
-
-
-
5,000
-
-
5,026
At 31
December
2024
236,442 96,256 (269,914) - 62,784
15,687
45,520
2,000,000
1,203,660		 34,006
-
-
-		 (19,205)
(11,385)
-
(973,584)		 -
-
-
(230,076)		 30,488
34,135
2,000,000
-
3,264,867 34,006 (1,004,174) (230,076) 2,064,623
13,405,585 10,840,211 (8,993,515) 230,076 15,482,357
16,670,452 10,874,217 (9,997,689) - 17,546,980
16,906,894 10,970,473 (10,267,603) - 17,609,764

The narrative to explain the purpose of each fund is given at the foot of the note below.

57

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

18b Movements in funds (prior year)

Movements in funds (prior year)
Total restricted funds
Total designated funds
General funds
Intangible Assets
Total unrestricted funds
Zimbabwe
Minilabs
Mali Book
Online Learning Portal
Restricted funds:
Global Investment Fund
Mali Tetanus Appeal
Designated funds:
Emergency Response Unit
Treating Eye Injuries and Diseases
Fixed Assets
Mali Segou Centre
Wellbeing and Welfare of Horses and Donkeys
Small Funds Under £5,000
Mali Segou Building Costs
Mali Mobile Clinic
Ethiopia Gondor
Mauritania Boghe
Vet CSC
Premises
Ending Donkey Skins Trade
Xray and Ultrasound Machines
University of Liverpool for AAU Ethiopia CVMA
Treating Working Animals with Parasites
Morocco Marrakech Clinic
Morocco Emergency Fund
Unrestricted funds:
Total funds		 £
33,305
25,047
7,978
19,324
11,115
38,344
6,611
100,726
13,711
1,250
31,991
10,913
99,559
4,912
7,143
-
10,100
-
-
-
17,498
At 1 January 2023		 £
-
-
-
-
-
-
-
662
5
-
-
25,000
-
-
-
25,176
120
6,057
180,634
5,343
5,685
Income & gains		 £
(33,305)
(25,047)
(7,978)
-
-
(38,344)
(6,611)
(101,388)
(13,716)
(1,250)
(31,991)
-
(99,559)
-
-
(10,000)
(10,220)
(6,057)
(48,798)
-
(17,503)
Expenditure & losses		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Transfers		 £
-
-
-
19,324
11,115
-
-
-
-
-
-
35,913
-
4,912
7,143
15,176
-
-
131,836
5,343
5,680
-
At 31
December
2023
439,527 248,682 (451,767) - 236,442
26,214
69,001
2,000,000
1,148,000		 -
-
-
-		 (10,528)
(23,481)
-
(372,289)		 -
-
-
427,949		 15,686
45,520
2,000,000
1,203,660
3,243,215 - (406,298) 427,949 3,264,866
11,234,423 2,565,103 34,009 (427,949) 13,405,586
14,477,638 2,565,103 (372,289) - 16,670,452
14,917,165 2,813,785 (824,056) - 16,906,894

58

The Society for the Protection of Animals Abroad

Notes to the financial statements

For the year ended 31 December 2024

Purposes of 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 Treating working animals with parasites University of Liverpool for AAU Ethiopia CVMA Morocco Marrakech Clinic Morocco Emergency Fund Morocco Mobile Clinics Farrier Wellbeing and Welfare of Horses and Donkeys

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 Study for Socio-Economic Value of Working Animals Provision of the centre’s working animal welfare services. Donations toward emergency relief and post earthquake support Running mobile clinics in Morocco Animal foot health General welfare of horses and donkeys

Purposes of designated funds

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. A decision on a new premises will be made in 2025.

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.

19 Capital commitments

At the balance sheet date, the group had no capital commitments

20 Contingent assets or liabilities

At the balance sheet date, the group had no contingent assets or liabilities

21 Post balance sheet events

The group has no post balance sheet events

22 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

59