Charlty number: 224337 Royal Society for the Prevention of Cruelty to Animals, Llys Nini Branch - Carmarthenshire to Cardiff TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRETO CARDIFF CONTENTS Page Trustees. report Trustees. resp¢nslbllltie$ statement Independent auditors, report on the financial statemonts Statèment of flnanclal actlvltles 10-13 14 Balan¢e sheet 15 statement of cash flows 16 Notes to the financlal statements 17-42 Royal Society for the Prevention of Cruelty to Animals, Llys Nlnl Branch - Carniarthenshire to Cardiff TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial slat6menls for Ihg year ended 31 December 2024. The finBncial 5talemenls have be￿ prepared in accordance with the accounting polia8s set out in Ihe notes to ttr flnancial staloments and ¢omplywlh the charity's governing docum9nl, the Charities Act 2011 and "Accounlirg ¥(J Reporting by Chanties.. Slalemenl of Recommended Practice applicable lo charflies prepafing their a¢countS accordan￿ with the Financial Reporting Standard appliGgble in the UK and Republic of Ireland IFRS 1021 leffectNe 1 January 20191.. ObJ￿tIV¢S and *cdvltlo$ The RSPCA Uys Nini Branch is an unincorporated charitsble associalDn arKI a separdlely registered branch of Royal Societyforthe Prevention of Cruelty to AnimaL% Ilhe Socielyl. carying out ils direct animal welfarework in tt nitary authorities of Swansea, Nealh Port Talbot, Bridg8nd. some areas wthln Rhondda Cynon Taf, Pows, Camiarthenshire and Cardiff. Howevèr, when able. it lakes in animals Irom the of South and Wesl Wales. The objects of the Branch are to promots thg work and objects of the Sooety- lo promote kindnessand to prewl or suppres5 cruelty to aniTr015 by all means-wlh patticukr reference lo the area of the eranch. in a(thrdan￿ Ki the policies of the Sociely. The aim of the b¥an¢h is lo provide a committed welfar& seNice lo both domesii¢8nd wldlife animals in th8 Solth Wales area - ttr rescu&, rehabilitate and rehome as many animals that need our assistanGe following negl mislrgatmenl orwho are urhwanl¥d in the home. We endeavourto pronThXe responsbility foranimals and env￿Or￿1 through the education of children via school visits. In orderto meet its aims and objectives, the branch operates from a 78-acre fami18nd on the oulsklrts of Swanw, with facililitrs lo provide the care foranimals brought into the centre. The capacity of the centro is 57 dogs and 1(Q cats, 1CQ miscellaneousanimals plus pups and kittens al any one lirne. The fattiltties allow the anima15 to be provKl&l th Ihe peace and tranquillily they often require as they go through rehabilitation. The branch works closely￿th ¥ local RSPCA inspeclorales providing the supw)rt and spacE forthem lo prowde their services. The branch also wcrtks closely ￿th Sl James Veterinary Group lo prowde its veterinary services forthe branch animals and also woiks wfth a numberof vdunteers lo help wtlh thg animals al the Cenlre, in the shops and out on the site, prowding much ne8J8J hands-on experience and assistance. Méetlng th• public b8Thofit reportlng roqulrement ot tho Charltl•$ Act The Iruslees have revlewed the oul¢omg5 and achievements of the objectives and aclivitiesforlhe year. to ensure they remain fowsed on the ¢haril8ble aims. and Conlviue lo deliverbenefits lo the pUb￿c. In deciding what acllvib the Branch should undertake, thelrusleeshavecDmpliedwiththeduly undBrlh8ChariliosAct20111o havedueregatl to public benefil guidance published by the Commission. Under the Charftles Act 2011, the advancement of animal welfare is wognised as a dislincl ststthory charil*J purp(ys8. This legislation and the Animal Wolfare Act 2008 indicate an acceptan￿ by socEly that Irealiry liI4rg creatures wth comp8s5ion has a moral benelil for the public as a whole. Whilst thls PL¢blic benefit is clear, il sometimes difficult lo quantify and musl be balancsd against any detrimonl. The Branch's animal wdfare work. although local in nature, benel((s soaety 81 large. and also aims to hdp peopb li nged wlh the care of Ihgir animals. All the charitable aclivilEs, as dos(ribed in more detail the following pa5￿ of thls roport, fo￿50￿ promoting kindness and prevenlingorsuppressingcrueltyio animalsand are undertakenlo lurlF th8s9 purposes for the public benefit. The opportunity forfree use of the Llys Nini site lo the local and wdercommunity. and our partnèrship wort(ing ¥Mih other agencies in the delivery of educ8tionalopportunit*s and volunteering and training for people at risk of sock4 exclusion, inadd((ion toourenvironmentalwork,demon5trales ijurcommilmenllo beirKJ a holisticcharity. We ￿cog￿e thalanimals ¢an81s0 haveaposiliveoffecton people'swdlbelngand offerthesodalisalK)n of humans wilhlheanimas. Page 1 Royal Society for the Preventlon of Cruelty to Animals, Llys Nlnl Branch - Carmarthenshlre to Cardiff TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 As an active RSPCA Branch. we support our local Inspectors by taking in mtstraalod or abaTrJoned animals, inclLdT¥J pals whose owners suffer ill health, have tinancial difficulties or pass away. The Branch provides sth)sidised veterinary treatment for8nimals ￿¥ch are sick or injurtsd and who belong to b￿h area people on low inc(mes through a voucher schemè. During 2024, spe¢i81 asSIstan￿ was pmvided to low ircome owner5 of the XL bullies with neutering in conjunotion with the Wales Board and the Sociely. Sadly, the subsidis&1 neutering and micfo contribvte to the develDpm8nl of the sile and the wldlife. The site has also been awarded a Community G￿8￿ Flag Awar(S for a ninlh year. Our bird hide is a good pla¢0 lo view the wldllfe on the pond. During 2023, there was much building work undertaken on sile. The Centre has now benefilted from the cov&B exercise bam which was much needed and is now enjoyed by st£ff and animals alik8.11 is an useful Spa￿ for Irairiry, socialisiig and for prospective a¢Jopt$r5 to meet and $ocialBng wth their chosen dog. The public all we8lher run h also been completed intheyear. providng asecure run fordl animals to exer¢ise $8felyand securely viaa pre booknry s¢heme. The Project was primarily aimed al the XL bully type dogs, bul the run is now regularfy booked for all diffeTwQ breed types of dogs. The Ysguborproject is a popular venu¢, hosting a café, 8 popular actfvity area for a variety of events, a cla55lDDry a donation prO￿Ssing area, all of which is helping us to increase the revenue streams, develop our animal welf activities. ralsing our footfall at the centre and ils prof ile. whilst helping the community and helping prote¢l It environment. All tha "profits. from tha ventures are ploughed back inlts the charity to further our objectives. The merger with the RSPCA Camarth8nshire branch took pla¢e on the 31 May 2024. By poOl￿g the resourc￿. experience. kno￿edge and commitment, wa are now able to dellver animal welfare over a much greater area. Al transferred reseNes totalli)9 £351,746.83 are reslricled lo use of"Cannarthenshire" Anlmab welfare and support. Our fundraisiro team continue lo work IITelBsslyto raise the much-needed funds and the evenlg held durfng the y were well supported, th& Easl8r Egg Trails and hunt, DOTY, Summer ev8nls, Hallowegn week, Chrislmas a¢livi and the Mutt Slnrtls. They go out on a regular basis to collection days shaking theircdlertion boxe5. They conlinualy update and maintain the FacebooK Inslagram and X pages lo ensur0 that we have a large nLsmberof lollowaB to champlon the good work we do. We thank Ihgm eameslly for that they do. At the end of 2024, the Heritage team PF8senle(S an exhibition of the history of Uys Nlnl and a celebration of 200 yea5 of the RSPCA, focusing on RSPCA in the branch area. The 8¥hibilion and Iho work, includlng archivin9 the brarKh records, was funded by a Tr*ritage Gr8nt. The Trustees of RSPCA Llys Nini would like lo record their gratitude lo all branch slalf, volunteers, supporter5 partner organisations. Th8 Branch Is a voluntary organisalKJn and wthoul this levd of mutual supportwould not be ablè lo function for th@ bengfil of peop￿ and aTrimals. Al the end of the yearlbeginning of 2025, we had a numbwof Trustee resignalion5- Sally Hyman, Jean Ra￿Ing8, Claire Chappel, Rebeca Miles Harpwood and Jane Clgm8nts. The remaining Trustees thank all the longstanding trustees fortheirconlribulion to thè branch ovèrlhe many years they served, In parti¢u18rto Sally Hyman who has worted so hard overthe past 20 years to briTrJ the Branch to I current position that it is. Flnanclal rovlew The Branch's results for the year are sel out on the Slat8menl of Financial Activlties on page 14. ThB Branch h&8 resulted a surplus of £707.90412023= surplus £815,216) ￿corded lorthe year. The surplus in 2024 and 2023 are dve lo the large value of grants and legacy income received recognised in the year. Income Donations and gift aid Income has increased from thg provious year from £138,380 to £142,516. Page 3 Royal Society for the Prevention of Cruelty to Anlmals, Llys Nini Branch - Carniarthenshire to Cardiff TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Legacy income has decreased on the previtxjs yèarfrom £712.347 to £621,384. Legacy incoTN is an unpredicta)1g source ol in(x)tlle, bulfrom which the branch has continued to bendit greatly from overlhe pastfew yea￿. Norp of in¢ome is reslrictad other than lo support the Wofk we do with animals within our branch ar@a. The charity shops are an important part of ourfundralslrKJ team. During 2024, the Mumbles shop had a refil due to Structural change5 need8d in th8 S￿>p and n$trded lo be Closed for3 months forthe work lo be undertaken. Thère were no closures or new shops during the year. There ale always plans to seek altemat.ve premises when they th8 right place and al the righttime, bul nothing Suitab￿ has been found to date. During tho ygar, the support fDm publ1¢ lo proylde clolhes and bric a brac donab'ons has once again been magnffic&nl. Trading has been drfficull dLP to the increasing prices and thé increases In wages due to16gislative meastjres. Money rnarkel incorne has incrèased due to the Inc￿2se in interest and improved mathel condilions. The movemenl in unrealised gainsllosses (where market value is higherllow than a¢lual wsl of inveslmwtsl amounled to £118, 182 gain12023.. £147,874 gain). The inveslrrEnl rnaTkèt is qurte voLali5e due to Ihe energy cost of living crisis and gener81 economic evenl5. Duling the year, the charity had not disposed of any major assets. Income generated from otrer aclwites included rent from the Veterinary Clinic, Groomers, Beekeepers and Wildflo sites, Swansea Cats and kittens togelher with the rent for the solar field. Expenditure Salaries continue ID b8 the main category ol charitable expenditure,. £615,41612023". £567,193) lor the d1￿cl cariry of animals and thè Ènvironment.. £710,50012023.' £552,9171 for the shop wortters and administr8tiw of shops axl £72,26512023.' £61,543) lorfundr8ising team. Salaries ol Ihe Branch Execulwe and Finance manager are allocaaJ per proportion of their liffle Covering tho areas of the bran¢h aclivitiès. SL¢PPOrt costs Include Charges by HQ to cover the legal & administrative costs relating lo the legacy income. The charity generated an unrestricted Surplus (excluding gain on Inveslmentsl of £305,082 for the year ended 31 December 2024. Resèrves Policy Th8 Trust m8intains rostricted, desunaled and unrestricted reserves. Tre reslrtcled rasetves comprise a numbwof ndividual reseNes for particular projects, primarily those funded from exlemal reslrided purpose grants. These f LrKJs are ring-fenced, and no conlributi¢n is taken towards operdtDn81 costs, except where this is allowed by the donor. The Trust's UTkrestricted ieserve balanc6 is £5,543,322 al the year end. This balance includes £3.186,079 relatry to designated funds lo be spenton specrfic projects. Thè designated funds are shown within note 28 of the ac¢J)unts aij are monitored for ¢harrfJes at monthly Board meetings. The Tru51ees have laken the decision to maintain a relatively high levd ol investments togetherwith a substantia amount in reseNes SD Ihatlha charity cancarry out ils mission ofsdeguardingcharityfunds. Thecharily has anelhica standpoint and any investments made must bè in line Iheso. Risk Management In complonce wlh the SORP, Ihe major risks to which the Charity is exposed, as identified by Twstees, have bttn reVI￿d and systems have been established lo manage those isks. These are reviewed al the monthly Boad Meetings. Future Developments The tnjstees are committed to provide animal wdfare s8Nices al Llys Nini and lo operate welfare assistance sch throughoLrt the extended branch area. The Tnjstees are also assisting ￿th a number of Food Bank5 wilhv) the Bwh area lo help keep theADimals at their home environment by providing fo)d lo those who need th& hdp. This work undertaken in conjunction with IheAbercDnwy Brarith who organi5e a larg8 qtjantity of th8 Pat loth. ThèTnJslees Mhj are involved wlh the Food Banks wthin br￿ch ar&a are Rob Davies, Darren Lovering and Tracey Clarke. Page 4 Royal Society for the Preventlon of Cruelty to Animals, Llys Nini Branch - Carmarthenshire to Cardiff TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 In orderlo m8ximise inco￿£ 9eneratSon, the charity plans lo ￿ntInue to manage ils land for biodive￿ity and to devd(p a"green° visitors'allrn¢lion. These ￿an5 will use none of Ihg charity's funds bul wll rely on money frDm oth8r souw, includin9 various grants. The Trustees are committed lo the Envlronmenlal work on the sile and are working with 8 nurnberol organi$alK)r encourage th8 young people lo enjoythe Mldlife through events. The Swansea Beekeepers Soctety also contin￿$ to wotk on sile. Celtic Wildflowers is using th8 Centre as a location in vknich lo grow native wldflower plants and t￿. which in itself will b$ a benefll lo the wildlife at the Centre. We continue lo look 8t olhgrorganlsalions to VK*rk with to use the land lor the benefit of the environment. Going Concern The Board conl'nue to malntain a review of the charitls going concem basks. Another yearwlh a t￿t increase in fLngs alongside a strong cash and net 88set posilicl) has led lo a strengthening the balance sheet position. The Tnjytees appwiale the various exlemal and intemal factors that prove 0 risk to going concem. Notwthstanding these Ih)wJh, the trustees have assessed that the charity is a gowig concem and the finarKial statements have been prepared on basis. Structure. govarnan¢e and management Governing Document The organisalion is an unincorporated ¢harily, registered wlth the Charity Commission on 21 August 1963, anj operates as an autonomous branch of the RSPCA. subject lo its rulgs fof branches {8s tspdated in 2022)- In AugLtst 2016 the Tnjslees obtained an orderfrom the Charity Commission to incorporate the chaiity tnJst6es * a body incorptxalè under the powergiven in section 251 of the Charities Act 2011. Thi5 means that all propertyof charity is transferred to theincorporated body. r(s govemin9dooJmenten¢ompasseslherules adopted on18 Februay 2009 as amended on 8 April 2017. Recruitment and Appointsnent of Management Commltt•g The charity is gov8med by a minimum of 5 10 a maximurn of 14 elected Trustees, appolnl8d annually by way of a m¥mber¥' ballot, vthich is held al the Annual General Meeting. All truslaes are briefed on Ihoir rosponsibiliti￿ as Trustees by the Chair of Trustees and have access to the onllne Trusteè Har￿book and RSPCA guidelines toge wtlh the appropriate Charity Commission publications. There Is no requirement for trustees lo retire by rotation. All trustees are deemed lo be'yit and proper persons" and eligible to be IFuslees of RSPCA Llys Nini. Organlsatlonal Stru¢ture The trustees generally hold monthly meetings at which decisions on pokcy and practice are made, which may be by face lo face meetings orvia"Teams" The day-t041ay running ofthe Animal Centre 1$ delegated lo the Animal Centse Manager, and the day-to-day njnning of the shops is dekgated lo the Area Shop Managerand lolhe indiwdua s￿p8, managers. The Branch Executive and the Finance Manager are the lead professionals, line managiry the rnidd management team and, wlh the Chair. managing the running of the branch as a whol$. A register of Trustee inl&resls is maintsined 81 the branch and is available lo the public lor review. P8ge S Royal Society for the Prevention of Cruelty to Animals, Llys Nini Branch - Carniarthenshlre to Cardiff TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Pay policy for Key Management Personnel The Trustees corisider Ihallhe senior manag8mgnt team, corrprfsed of the key manag8mentper50nnel of the chaty. aTe in charge of dirécting and controlli)g, running and operalry the branch on a day-to-day basis. All trustees gtve of their lime freely and no trustee received remuneration in the year. Details of trustee expenses, key managemwl personnel and relal¢d party transactions are disclosed the ac¢ounls. The pay of the seniorstaff is Teviewed annuallyand nomally increased in accordance wth average eamings. In vw of the nature of the oharity, the trustees, benchn-th against paylgvels in olhercharilies of a simlarsize and opera in the same sector. The r8muneralion is benchmarked using mart(g1 data which is readily avadable. Audltors The auditor, MHA. previously traded through the legal entity Maclntyre Hudson LLP. tn response to regulatory changes, Maclnlyre Hudson LLP c8ased lo hold an audit registration with the engagement Iransilioning lo MPiA A*Jdit Services LLP. MHA will be proposed for reappointment at the forthcorning AGM. Page 6 Royal Society for the Preventlon of Cruelty to Animals, Llys Nini Branch- Carmarthenshire to Cardiff TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Principal Officè: Royal Society for the Prevention of Cruelty lo Animals, Uys Nini Carmarthenshire to Cardiff Charity registered number: 224337 Prlnclpal Offlce: Llys Nini Animal Centre Penllergaer Swansea SA4 9WB Presldent Vl¢e Presidents: Martin Trainer Joe and Lacey Allen Kevin Johns Peter 81ack Nevillè Southhall Trn$tees: Sally Hyman {Chair) {Resigned28 Fèbruary 2025) Claire Chappell {Sècrelaryl (Resigned 11 December 20241 Iwan Rees (Resigned 16 June 20251 Alison Spence (Resigned 12 June 20251 Howard Spence {Resigned 12 June 2025) Roberi Davies {Resigned 12 June 20251 Jean Rawlings (Resigned 11 December 20241 {Resigned 12 JLtne 20251 Dr Katherine Fender (appointed as Chair 1 January 2025} (Resigned 12 June 2025) Darren Lovering (Co-opted 4 June 20241 (Resigngd 12 June 20251 Jane Clemenl (Co-opted 4 June 20241 (Resigned 7 January 20251 Sarah Stallard {Co-opled 27 August 20241 (Resigned 12 June 20251 Baron Dorian True (Appointed 4 June 20241 {Resigned 12 June 20251 Tracey Clarke {Co-opled 23 July 2024} Peter Black Ichairl (Appointed 12 June 20251 Claire Chappell (Appointed 12 June 20251 Victoria Holland (Appolnled 12 June 2025) Jane Clemenl (Appointed 12 June 20251 Rebecca Miles Harpwood IResigned 11 December 20241 (Appointed 12 June 202S1 Audltors.. MHA Audit Services LLP MHA House Charter Court Swansea Er*terptise Park Swansea SA7 9FS Page 7 Royal Society for the Preventlon of Cruelty to Anlmals, Llys Nlnl Branch- Carmarthenshlre to Cardiff TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Bank¢r$ Barclays Bank PLC 70 The kn'ngsway Swansea SA1 5JB Invèstm•nt advlsor5- Estat8 Capital 7 Uplands Crescent Vplands Swansea SA2 OPA Brewin Dolphin 5 Callaghan Square Cardrff CF10 SBT Legal advisors: JCP Solicitors Swansea Enterprise Park Venture Court Waterside Business Park Valley Way Swansea SA6 8AH Key Managèmont Personnel: Mr David Stokes - Branch Executive Mrs Claire Phillips - Branch Finance Manager Mr Gary Weeks- An1mal Centre Manager Mrs Kim Williams- Area Shop Manager Page 8 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF STATEMENT OF TRLISTEES. RESPONSSBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Th8 Trustees are responsible for preparing the Trustees. report and the financial slatgments in accordance with applicable law and United Kingdom Accounllng Standafds (United Kingdom Generally Acceplgd Accounting Praclicel. The law applicable lo charities in Englar￿ & Wales requires the Trustees lo prepare financial slalements for each financlal which give a true and fair view of the stsle of affairs of the Charity and of Its incorning reSoUr￿S and applic81ion ol resources, including its Income and expenditure. for that period. In preparing these financ¢al stalemenls, the Trustees are required to.. sele¢l suitsble accounting policies and then apply them consistendy. observe the methods and principlgs of the Charities SORP {FRS 102}'. make judgments and accounting eslimales that are reasonable and prudonl,. state whether appl¢cable UK A¢¢otsnling Standards IFRS 102) have been followed, subject lo any material departures disclosed and explained in the financial slalements., prepare the finaneial statements on the g￿ng concern basis unless il is inappropri8t8 lo presume that tho Charlty will continue in business. The Trustees are responsible for keeping adequate accounlSng records Ihel are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position ol the Charity and enable them to ensure that Ihe financHI stalements comply with the Charilies Act 2011, the Charity IAc¢ounts and Reports) Regulations 2008 and the provSsions of the Trust deed. They are also Tesponsible for safeguarding the assets of the Charity and hence for t8klng reasonable steps for the prevenlton and detection of fraud and olher irregularitles. The Iwslees are responsible for maintenance and intergrily of the charity and finanGial inlormation included on the charity's wgbsile. Legislation in the United Kingdom goveming the preparation and disseminati(>n of financial slalemenls may differ from legislation in olherjurisdiclions. Approved by order of the members of tho board of Trustees on ZS 20 25 and signed on ils behalf by: Page 9 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF Oplnion We have audil¢d the financial statements of Royal Society for the Prevention of CTUg1ty to Animals , Llys Nini Branch- Carmarthenshire to Cardiff Ilhe 'charityl for the year ended 31 De¢6mber 2024 which comprisg the Statement of financial activities, the Balance sheet, the Slalement of cash flows and the related notes. including a sum7nary of significant accounting policies. The financial reporting framework that has been applied in thei¥ preparation is applicable law and United Kingdom Accounting Standards. induding Financial Reporting Standard 102 'The Flnancial Reporting Stsndard applicable In the UK and Republ£c of Ireland. (United Kingdom Generally Accepted Accounting Practl¢el. In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incomlng resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Acceptod Accounting Pracknce.. and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnion Wo conducted our audit in accordancg wilh Intarn81ional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described the Audilor5' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, Including the Financial Reporting Council's Ethical Standard, we have fulfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions Tglating to going concern In auditing the frnancial slalements, we have concluded that the Trustees, use of the going ¢oncem basis of accounting in the preparation of the financial stslemenls is appropriate. Based on the work we have performed, we have not idenlifted any maleTi81 uncertainties relating to events or conditions Ihal, indlvSdually or collectively, may cast significant doubt on the charills ability lo continue as a going concern for a period of at least twelve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sgctions of this report. Page 10 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS. LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH. CARMARTHENSHIRE TO CARDIFF ICONTINUEDI Other Informatlon The other infoimalion comprises the information included in the Annual report other than the financial statements and our Auditors, roport thereon. The Trustees are responsible for the other information contained within th8 Annual report. Our opinion on the fin8ncial statements does not cover the other information and, except lo the extent otherwise explic1￿Y slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other infomialion and, in dolng so, consider whether the other Information is materially inconslslènt wllh the fin8ncSal ststements or our knowledge obtained in the course of the audit, or otheNisg appears to be materially misslaled. If w¢ identify such material inconsi51encies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a material misslatemet)l in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a rnalerial misslalemonl of this other information. we are required lo report that fact. We have nothing to report in this regard. Matters on whlch we are requlrgd to report by exceptlon We have nothing to report in respect of the following mallers where the Charities (Accounts and Reports) Regulation5 2008 requires us lo r$port to you if, in oijr opinion.. thè information glven in the Trustees, report is inconsislont in any material respect with the financlal slalemenls., or suffiaenl accounting records have not been kept.. or the financial statements are not in agreement with the accL)unling records and retums., or we have not received all the information and explanations we require for our audit. R8spon$lbllltles of truste0$ As 8xplained more fully in the Trustees, responsibilities slalement, the Trustees are responslble for the preparation of the financial statements whlch give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financi81 ststemenls that are free from material mlsslalemenl, whether due lo fraud or error. In p￿parIng the financial slalèmenls, the Trustees are responsible for assessing the Charitys ability to continue as a going concern, disclosing, as applicable. matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidat& the charity or lo Cease Dperations. or have no realistic alleinaltve but io do so. Page 11 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH. CARMARTHENSHIRE TO CARDIFF INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTYTO ANIMALS. LLYS NINI 8RANCH- CARMARTHENSHIRE TO CARDIFF ICONTINUEDI Audltors. rosponslbllfties for the audlt of the flnanclal statements We have been appointed as auditor undor section 144 of the Charities Act 2011 and report in accordance wilh the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance 8botsl whether the financial stslements as a whole are free from material misslalement, whether due lo Iraud or error. and to issue an Auditors, report that Includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will 81ways detect 8 material misstalemenl when il ¢xisls. Misslalemenls Can arise from fraud OT er¥or Bnd are considered material if, individually or in the aggregate. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irr@gularilies, including fraud, are instances of non-compliance with laws and regulations. We design proceduTes in line with our responsibilities. outlined above, lo detect material misstatements in respe¢l of irregularities, induding fraud. The extent lo which our procedures are c8pable of deleeling irregularit¢es, including fraud Is detailed below.. We obtain and update our understanding of the entity. ils activities. ils control environment, and likely future developments. including in relation to theI￿al and regulatory framework applicable and how the enlily is complying wlh that framework. Basèd on this understanding, we identify and assess th& risks ol material misslatomenl of the financial stalemenls, whelher due to fraud or error, design anLI perform au￿11 pro¢edures responsive lo those risks, and obtain audit evtdence that is SLrfficienl and 8ppropriale to provide a basis for our opinion. This includes consideration of the risk of acts by the entity Ihal were contrary lo applicable laws and regulations. including frauds. In response to the risk of irregularities and nonwcompllance wllh18ws and regulations. including fraud, we designed procedures which included.. Enquiry of mana9ement and those charged with governance around actual and potential litigation and daims as well as actual, suspected and allegèd fraud., Reviewing minutes of meetings of those charged with governance., Assessing the extent of Complian￿ with the laws and regulations considered to have a direct maleTial effect on the financial stslemenls or the operations of the entity through onquiry and inspection., Reviewing financial statement disclosures and testing to supporting documentation lo assess compliance with applicable laws and regLtlations,' Performing audit work over tho risk of management bias and override of controls, including testing of journal entries and othe radjustmenls lor apprtspriatenes5, Bvalualing the businass rationale of significant transactions oulside the normal course of business and reviewing accountsng eslimales for indicators of potential biag. Because of the Inherent limitations of an audS1. there Is a risk that W8 will not detect all 1STegulariUes. includSng those leading to a material misslalement in the financlal slalemenls or non-compllance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions Teflecled in the financial stslemenls, as we will be less likely lo become aware of Snstances of non-compliance. The risk of not delecling a material misstatement resulting from fraud is higher than for ong resulting from error, as fraud may involved collusion, forgery, I￿tentional omissions, misrepresenlaiions, or the override of internal control. A furthef description of our responsibilities for the audit of th8 financial statements Is located on the Financial Page 12 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI 8RANCH- CARMARTHENSHIRE TO CARDIFF INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF ICONTINUEDI Reporting Council's website at: Auditors. report. .fr .or nsib'lities. This description forms part of our Uso of our report This report is made solely to the charivs trustees, as a body, in accordance with Part 8 ol the Charities (Accounts and Reports) Regulatr'ons 2011. Our audit work has been undertaken so that we rnighl stale lo the charity's Iruslees those matters we are required lo stale lo them in an Auditors, report and for no other purpose. To the fullest extent perm¢tied by law, we do not accept or assume responsibility lo anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have fomied. MHA Chartered Accountants and Stalulory Auditor Swansea United Kingdom Dale.. *(o61J_ MHA are eligible to act as auditors lemis of section 1212 of the Companies Act 2006. MHA is the trading name of MHA Audit Services LLP, a limited liabllily partnership in England and Wales Iregislored number OC455S121 Page 13 ROYAL SOCIETY FOR THE PRPIENTION OF CRUELTY TO ANIMALS . LLYS NINI BIiANCH - CARMARTHENSHIRE TO CARDIFF STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 RgStrS¢ted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Oonallons and legacies Charitable activities Other trading activities Inveshrents Other income 763,900 337,934 1,340,356 31,736 462 763,900 369,543 1,340,356 31,736 352,208 850,727 533, 126 1,173, 777 14,454 31,609 351,746 Total income 383,355 2,474.388 2.857,743 2.572,084 Expendlture on.. Raising funds Charitable activities 12.633 86.082 1.200,468 968,838 1,213,101 1,054,920 992,820 911,922 13 Total gxpendlture 98,715 2,169,306 2,268,021 1,904, 742 Net income before ngl galns on investments Nel gains on inveslmenls 284,640 305.082 118,182 589,722 118,182 667,342 147,874 Net movement In funds 284,640 423,264 707,904 815,216 R•con¢iliatlon of funds: Total fLsnds brought fts￿ard Net movement in funds 1.181.910 284,640 5,120.058 423,264 6,301,968 707.904 5.486,752 875,216 Total funds carried forward 1,466,550 5,543,322 7.009.872 6,301,968 The Statement Of Financial Acittvses includes all gains and losses recognised in the year. Thg notes on pages 17 10 42 fom part of these financial stalernents. Page 14 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH. CARMARTHENSHIRE TO CARDIFF BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Flxod assets Tangl￿e assets Inveslmer*ts 23 2,386,080 2,124,034 2.396,685 2,005.852 4,510,114 4,402,537 Currènt asset8 Stocks Debtors Cash at bank and in hand 26 27 27,512 1,086,492 1.655.121 19.122 927,049 1,228.563 2,769,125 2. 174.734 Current Ilabllltlgs Creditors.. amounts falling due within one year 28 {269,3671 (275.303) Net currènt assèts 2,499.758 1.899,431 Total assets less current Ilabllltles 7.009,872 6,301,968 Total net assets 7.009.872 6,301,968 Charlty funds Reslricled funds 31 31 1,466.550 5,543,322 1, 181,910 5. 120.058 UnTeslri¢tsd funds Total fund$ 7,009,872 6,301.968 The financial statements were approved and authorised for issue by the Trijstees o and signed on their behalf by.. n25t*i iLLne 2ts,15 The notes on pages 17 to 42 form part of thes8 financial ststements. b16/24 Pagè15 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flow5 frDm operatlng actlvltles Nel cash used in operatsng acb'vilies 506,934 884,794 Cash flow$ from Investing a¢tiviti98 Purchase of tsngible fixed assets Purchase of Investments Proceeds on sale of investments Investment Income received {100,2401 (65,2361 53,364 31,736 {567,027) (58.694) 65.873 14.454 Not cash used In Snvestlng actlvitlos (80,376) (545,3941 C•sh flows from financing activities Net cash provided by financing activities Change in cash and cash equlvalents in thè year Cash and cash equivalents al the beginning of the year 426,558 339,400 1,228.563 889, 163 Cash and Cash equivalents at tha ènd of the year 1,655.121 1,228,563 The notes on pages 17 to 42 fomi part of these financial stslemenls Page16 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General information Royal Society for the Prevention of Cruelty lo Animals, Llys Nini Branch- Carmarthen5hire lo Cardiff is an unincorporated charity whose principal office is Llys Nini Animal Cenlre, Penllergaer, Swansea, SA4 gWB. Accounting poll¢ies 2.1 8a$i$ of prnparatlon of finan¢lal statgment$ The financial statements have been prepared in accordance with the charivs governing dwumenl. the Charities Act 2011 and 'Accounting and Reportiri9 by Charities.. Slalemenl of Recommended Praclico applicable lo tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191". The charity is a Public Benefit Entity as defined by FRS 102. The financial slalemont are prepared in sterling, which is the functKJnal currency of the charity. Monetary amounts in these financial stslemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to certain financial instruments 81 fair value. The principal accounting policies adopted are set out below. 2.2 Going concern At the lime of approving the financkgl statements. the trustees have a reasonable expectstion that the Charity has adequate resources lo continue in operation81 existence for the foreseeable future. Thus the Iruslees continue to adopt the going Concern basis ol accounting in preparing the financial slalemenls. 2.3 Charitablo funds Unreslricled funds are available lor use al the discretion of the trLlStee5 in furtherance of their eharitable obje¢libes. Designated funds comprise fL¢nds whith have been set aside al the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out In ttie notes lo the financial statements. Restrrcled lunds are subject lo specbfic conclilions by doners as lo how they may be Lfsed. The purposgs and uses of the restricted funds are sel out in the notes lo th8 fsnancial slalements. Page 17 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles (Gontlnuodl 2.4 Inwming resourcas All income is ineluded on the Statement of Financial Activities when the charity is legally enlilled lo the income and the amount c8n be quanllfled with reasonable accuracy. Where grants are subject lo performancè related conditions, they are rec￿nISed in the Statement of Flnanclal Activities base upon when the perfomiance related conditions have been met, in Slne wtth the Statement of Recommended Practice". Accounb'ng and Reporting by Chariiies. Cash donations are recognised on receipt. Other donations are recogni5ed once the charity has been notified of the donation, unless perform8nce conditions require deferral of the amount. Income tax recoverable in rÈlalion lo donations re￿iVed under GTft Aid or deeds of Covenant is recognised al the time of the donation. Legacies are recognised on reciepl or othenNise if the charity has been notified of an impending dislribulion, the amounl is known, ané receipt is expecled. If the amounl is not known, the legacy is treated as a conlingenl assel. Donated services and facilitie5 are included al the value lo the charity where this can be quantified. Thè valu& of services provid￿ by volunteers has not been included in these accounts. Donated good5 are rgcognised al their value when the sale lakes place. Income from charitsble trading acts.vi￿es represent fees charged in respect ot the adoption and treatment of animals. the provision of boarding facilities and claim fees for recovered pets, Éhese income streams are credited lo the Slalemenl of Financial Activities in the year in which they are due. In¢ome received in advance is deferred to the appropriate financial year. Charity shop and other miscellaneous income is reco9nised in the period when the sale lakes place. Renl818nd solar farm Income Is recognised In the perlod lo which the service is provided. Interest on funds held on deposit 18 induded when receivable and the amount can be meaured r81Sably by the charity,. Ihis is nomially upon notification of the Interest paid or payable by the bank. Page 18 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {contlnuod} 2.5 Resour¢es expend&d Expenditur6 is recognlsed once there is a legal or construclivo obligation lo transfer economic benefit lo a third party, il is probable that a transfer of economic benefits wll be requiied In selllemenl, and the amount of the obligation can be measured reliably. ExpendilLtre is classifie¢J by activity. The costs of each actlvlty are made up of the lotsl of direct ¢osls and shared costs, including support costs Involvéd in undertaking each acllvlty. Direct costs attributable to a single activity are allocated directly lo the aclivily. Shared c051s which contribute lo more than one activity and support c(Isls which aFe not attributable lo a slngle activity are apportioned on the basls of ttme spent, and depreciation charges are allocaltrd on the porb'on of th8 asset's use. Expenditure is recognised once there is a legal or constructive obltgalion to make a pa￿nent lo third party, il is probable that sottlement will be required and the amount of the obligation can be me85ured reliably. Costs of raising funds compiise of the costs in relation lo generating income such as fundraising acb'vilies. Expenditure on charitable activities includes all costs relating to the furtherance of th9 charills objeclivps as staled in the trustees report. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was inourred. Atl costs are allocated befv4een the expenditure categories in the Statement of F￿ancIal Activities on a b8sis designed to reflect the use of the resource. Costs relating to a particular acliwty are allocated directly while others are apportioned on an approrrale basis, as sel out in the SL*PPOrt costs note. Support costs are those functions that assist the work of the ch8rily bul do not dlrectly undertake charitable aclivilies. Governance costs comprise all costs 5nvolving public accountability of the charity and ils compliance wllh regulation and good practice. Page 19 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢les Icontlnued 2.6 Taxation The Charity is eonsidered lo pass the tests set out in Paragraph 1 Schedvle 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is polents'ally exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Ch8rgeable Gains Act 1992, to the 8Xt8nt that such income or gains are applied exclusively lo charita￿e purposes. 2.7 Tangible flxed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible riKed assets are measured at cost less accurnulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed ass81 into its intended working condition are included in the measurement of cost. Depreoalion is charged so as lo allocate the cost of tangible fixed assets less their residual v81ue over Iheir estimated useful lives Depreciation is provid&d on the following bases.. Fre8hold land Buildings Building improvemonts Motor vehicles Fixtures and fittlngs Clinic equipment Nil 2qh per annum straight line IOO/D per annum slraighl lirle 20.10 per allnum straight line 4 - 330/0 per annum straight line 10Q/o per annum reducing balance Gains and losses on disposals are determined as the difference beiween the sale proceeds and the caffwe)g value of the asset. and is recognised In the Slalemenl Of Financial Aclivilies. Buildings under construction are accounted for at cost, based on direct costs incurred. They are not doprecialed until the accounting period in which they are brought into use. Individual fixed assets coslirKJ £250 (including VATI or more are capilalised at cost. 2.8 Fixad asset Investments Fixed asset inveslments are initially measured al Iran$8clion price excluding transaction costs, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in net incomol{expendilure} for the year. Transaclion cosls are expensed as incurred. 2.9 Impaim)ent of nxgd assgts Al each reporting end date, the charity reviews the carrying amounts of ils lan9ible assets to d8t8rmine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset Is eslimaled in order lo determine the extent of the impairment loss (if any). Page 20 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 2.10 Cash and rA$h equlvalents Cash and cash eqtjivalents include cash in hand, deposits hold al call wlh banks. other short-lerm Ilquid investments with orSginal malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current Ilabililies. 111 Stocks Stocks are slated at the lower of costs and estimated selllng price less costs lo CoM￿ete and sell. Cost ¢ompri5es direct materials and. where applicable. direct labour costs and those overheads Ihal have been inc￿rred in bringing the sloGk5 to their preesnl location and condition. Items held for distribution al no or nominal consideration are mèasured the lower of replacement cost and cost. Donated goods for sale are not V81ued. Nel reali5able value is the estimated selling price less ell estimated costs of completiL¥s and costs to be incurred in marketing, selling and distribution. 2.12 Debtors Trade and other debtors are recognised at the settlement amount after any Irade discount Offe￿d. Prèpayments are valued al tho amount prepaid net of any trade discounts due. 2.13 Llabillties and provislons Liabilities are ￿cOgnIsed when there is an obligation al the BalanGe sheet date as a result of a past event. il is probable that a transfer of economic benefit TAriII be required in setNemenl, and tho amount of the settlement C8n be estimated reliably. Liabilities ale recognlsed at the amount that the Charity anliclp8les11 will pay to settle tho debt or the amount it has received as advanced payments for the goods or services it musl provide. Provisions are measured at the b9s1 ests'male of the amounts required lo settle the Obl￿allon. Where the effect of the lime value of money is material. the provision is based on the present value of those amounts, discounted al the prevtax discount rale that reflects the risks specific lo the liability- The unwinding of the discount is iecognised in the Slalemenl of financial acth"wlies as a finance cost. Page 21 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRAMCH . ARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ountlng policies (continued) 114 FlnanGial instruments The charity has elected lo apply the provislons of Section 11 'Basic Financial Inslrumenls, and Section 12 '0thor Finan¢ial Inslrumentslssues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charivs balance sheet when the ¢haTrty becomes party lo the contractual provisions of the Inslrumenl. Financial asset5 and liabililles are offset, with the net amounts presented in the financial statements, when there is a legally enfor￿able right to sel off the recognised amounls and there is an intention lo settte on a net basis or to realise Ihe asset and settle th& liability simultsneously. Basic financial assels Basic financial assets, which include debtors and cash and bank balances, are Initial￿ measurèd al Iransaction price including Iransacb"Dn costs and are subsequently carried at amortised cost using the effective Interest method unless the arrangement conslilules a financing transaction, where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amoilised. Derecognitlon of flnanclal a$$gts Financial assets are deTecognised only when the conlraclual rights lo the cash ftows from the assel 8xpir8 or are sellled, or when the charity transfers the financial asset and substantially all the risk and rewards of ownership lo another entity. or if some significant risks and rewards of ownership are retsined but control of the asset has transferred lo another party that is able lo sell the asset in ils entirely lo an unrelated third party. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially rocognised at transaction prlce unless the arrangement conslilutes a financing transaction, where the debt instrument is measured at the present value of the future payments dlscountgd at a market rale of interest. Financial liabili11gs classified as payable within one year are not amortised. Debt instruments are Subsequently carried at amortised cost, uslng the effective interest rate method. Trade creditors are obligations to pay f(y goods or services that have been aCquI￿d in the ordinary course of operations from suppllers. Amounts payable are classified as current liabilities if payTnenl is due within one year or less. If not, they are presented as non-currenl liabilib'es. Trade creditors are recognised ini118lly al transaction price and subseqvenuy measured at arnortised cost using the effective interest method. Dorgcognltion of financial liabilities Financial liabililies are d8recognised when the charitys contractual obligations expire or are discharged or cancelled. Page 22 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL sTATEmE￿rs FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policlgs l¢ontlnu¢dl 2.15 Employee boneftt5 The costs of short-l&m employee benefits are recogni5ed as a liability and an expense, unless those costs are required to be recognised as p8rt of the cost of stock or fixed assets. The cost of any unused hollday entitlement is recognised in the period in which the employee's seNices are receNed. Tenninatton benefits are recognlsed immediately as an expense when the charity is demonstrably Committed to terminate the employment of an employee or lo provide lerminalion benefits. 2.16 Retlrement benofits Payments to defined contribution retirement benefit schemes a￿ charged as an expense as they fall due. 2.17 Op•ratlng Leases Rentals payable under operating leases are char9ed lo expondilure on 8 Straight line basis over th8 term of the relevant leaso. Rentals due under operating lease$ are charged lo income on a straight line bas￿ over thg temi of the relevant lease. Crltlcal accounting estimate5 and areas of judgement In the application of the charitys accounting policies, the trustees are required lo make judgrnents, estimates and assumptions about the carryng amount of assets and liabilities that ar? not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are Considered to b8 rdevanl. Aelual resufrts may differ from these estimates. The estimat&s and underlJring assumption are reviewtrd on an ongoing basis. Revislons lo accounting estimates are recognised in Èhe period in which the estimate is revised where the revision affects only that period, or in the pertod of the revision and future periods where the revision affects both current and future periods. The charlty do8s rK)I have any key or signiffc8nt accounting eslim8les. Page 23 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Reconciliation of nat movemènt in funds to not cash flow from operatlng activitigs 2024 2023 Nel income for the period las per Statement of Financial Acliviliesl 707.904 815.216 Adjustments for: Depreciation charges Galn on Investments Dividenés, interests and rents from investrnents Increase in stocks Ilncreasel l Decrease in debtors Increase in ¢redilor8 110.645 1118,182} 131,7361 18,3901 159,4431 5.936 94,561 (t47,874? (14,454) (2,474) 53,697 86,122 Net cash provided by operating actlvitles 506.934 884, 794 Analysis of cash and cash equlvalents 2024 2023 Cash in hand 1,655,121 1,228,563 Total cash and ¢a$h aqulvalent$ 1,6SS,121 1,228.563 Analysls of changes in n•t debt At1 January 2024 Cash flows At31 December 2024 Cash at bank and in hand 1.228,563 426.558 1,655,121 1,228,563 426,558 1,655.121 Page 24 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlons and legacios 2024 2023 Donations Leg8cie3 142.516 fj21,384 138,380 712.347 763,900 850. 727 Charitable actlvltes 2024 2023 Adoptions, claiming & housing Cllnic & miscellaneous receipts Grants received 227,547 10.460 131,536 246, 794 18.745 267,587 369,543 533, 126 Other incoming resources Restrlcted Unrestrlctod funds funds 2024 2024 Total funds 2024 RSPCA Cam)arthen$hire Branch Transfer 351.746 462 352,208 P89e 25 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Inv85tments Unrestricted fund8 2024 Total funds 2024 Money market intere51 Interest racoivablè 4,382 27,354 4,382 27,354 31,736 31,736 Unrestricted funds 2023 Total funds 2023 Money market interest Intorasl receivablè 3,851 10,603 3,85t 10.603 14,454 74,454 11. Other tradlng actlvltles 2024 2023 Charity shops Special events Caffi Nini Rent Income Miscellaneous 910A91 130,155 178,682 81.706 39,322 934.621 115,562 34,342 56,858 32,394 1,340,356 1, 173,777 Page 26 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS. LLYS NINI BRANCH- CARMARTHENSHIRETO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Ralsing funds Restrlcted Unrestricted funds funds 2024 2024 Total tunds 2024 Rent, rates, light & Heal Insurance Maintenance and rgpairs Waste disposal and cleanlng Other shoplfundraising wsls Staff costs Shop goods for resale Postage, stslionery and telephone Investment management Share of support costs Share of Governance costs 206,521 7.008 37,338 18.916 33,148 779,253 57,072 5,858 3,747 43,815 7,792 206,521 7,008 39.933 18.916 35,744 779,253 59.667 6,660 3,747 45,978 9.674 2,595 2,5 2,595 2,163 1.882 12,633 1,200,468 1,213,101 Reslncted Unreslrtcted funds funds 2023 2023 Total funds 2023 Rent, rates, light & Heal Insurancg Maintenancè and repalrs Waste disposal and cleaning Other shopifundraising costs Staff costs Shop goods for resale Postage, stslionery and telephone Investment management Share of support costs Share of Gov8rnance costs 221,938 7.097 12.486 4.830 36,495 614,460 22,598 3,313 3,439 5T.158 8,675 221.938 7,097 12.818 4.830 36,495 614,460 22,598 3,313 3,439 5T. 158 8,675 332 332 992,489 992,821 Page 27 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Analysls of 8xpendituro on charitable activitie$ Summary byfund type Restrlcted Unrestricted funds funds 2024 2024 Total 2024 Staff costs. staff training, sl?ff uniform Rent, rates, light and heat Insuffjnce Maintenance and repairs W8sle disposal and cleaning Telephone Travel and subsislen¢e. miscellaneous costs, bad debt Shop goods for resale Vel fees. medicine and welfare costs Food and pel supplies Postage. 5tationgry, comput¢r Costs and advertising Share of support costs Share ot governance costs 22,585 2.000 601,￿1 45,277 4,158 20,496 35,437 7,901 4,812 14,867 128,121 27.205 7,906 79,149 {8.3921 624,486 47.277 4.158 21,636 35,437 7.901 4,812 14,867 128,121 27,205 7.906 131,114 1,140 51.965 8,392 86,082 968,838 1.054.920 Page 28 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS. LLYS NINI BRANCH- CARMARTHENSHIRE TO CAROIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Analysls of expendituro on charltablo actlvltles l¢ontlnuedl Summary by fund type l¢ontlnu¢dl Restricted Unreslt7Cted funds funds 2023 2023 Tot81 2Q23 Staff costs, staff training, staff uniform Ront, rates, light and heat Insurance Maintenance and repalrs Waste disposal and cleaning Telephone Travel and subsistence, mi5cellarieou5 eosls, bad debt Shop goods for resale Vet fees, m9dicin& and welfare costs Food and pet supplies Postage, slalionery, computer costs and advertising Share of support costs 579.351 41.286 2,962 21,562 33,326 4,898 4,446 20,021 97, 183 27.056 7,997 26,292 579,351 41,286 2,962 21,562 33,326 4.898 4,446 20,021 97, 183 27,056 7,997 71.834 45.542 45.542 866,380 911,922 Page 29 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRETO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Support costs Support costs Governance 2024 Total costs 2023 Total Depreciation Banklcredil card charges Professional charges Contribution lo HQ Irrecovèrable VAT Audit fees Trustee expenses Outreach work Accounting lees 131,409 15,556 29.343 785 131.409 15,556 29,343 785 94.561 16,021 19.030 1.378 12,100 12,100 11,000 683 50 2,885 145.608 1,882 3,783 17,765 1,882 3,783 194,858 177.093 Analysed between Fundraising Charitable Acliifjlies 45,979 131.114 177,093 9,673 8.092 17.765 55,652 139,206 194,B58 65,833 79,775 145.608 15. Staff costs 2024 2023 Wages and salaries Social security costs Other pgnsion costs 1.273,128 90,834 34,219 1,078,208 73,439 29, 768 1,398,181 1,181,415 The average number of persons employed by the Charity during the year was as follow8.' 2024 No. 2023 No. Employees 67 63 Pagg 30 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 {contlnuedl The average monthly number of full time equivalent employees during the year was- 2024 No. 2023 No. Management and administration Animal care Shops 28 31 28 26 67 61 No employog received remuneration amounting lo more than £60,000 in either year. 16. Volunteers The charity was assisted by volunteers during the year. The benefit of the volunteers are not quantified and in line with the requirements of the SORP, this amount has not been recognised within the accounts. 17. Split of audlt and non4udlt $8rvl¢es 2024 2023 Accountsncy Audll 1.375 10,725 1,250 9.750 12,100 i y,000 18. Trustees. romuneration and bengfit$ There were no Iruslees, remuneration or other benefits for the yeaf ended 31 December 2024 nor for the year ended 31 De￿Mtser 2023. 19. Trustses. expensgs One Trustee was reimbursed £2,905 for dlsbursgrnents made on behalf of the ¢harity- In 2023. there was £1,867 of Trustee disbursements made on behalf of the charity. Page 31 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Key managerngnt personnel The key management Porsonnel of the charity in 2024 and in 2023 are thg Bran¢h Executive, the Branch Finance Manager, the Centre Manager, the Area Shop Manager and the Iruslees. The total employee cosls of the employees deemed to be key management personnel w85 £182,354 {2023: £165,372). None of the key management personnel were paid a salary above £60,000. 21. Redundancy and other payments The charity made r8dundancy payments of £NIL {2023'. £2,500). 22. Net gaFnsllloss¢$l on Investments Unrestricted Unreslricled funds 2024 funds 2023 ovemenl in investments 118,182 147,874 23. Tanglble Ilxod #ssets Freehold Flxtures and land flltings Cllnlc gqulpment Motor vehiclo$ Total Cost or valuation At 1 January 2024 Additions Dlsposals 3.111,328 58.173 (3,2821 1,034,169 65,208 119,860} 4,125 68,814 4,218,436 123,381 {23,142) Al 31 December 2024 3,166,219 1.079,517 4,125 68,814 4,318,675 Depreciation At 1 January 2024 Charge for the year On disposals 1,009,606 75,552 {3,2821 785.672 44,693 117,283) 4,125 22,348 11,164 1,821.751 131.409 120.5651 Al 310ecemb8r 2024 1.081,876 813,082 4,125 33,512 1,932,595 Page 32 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH. CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23. Tanglbla fix•d asset5 {continuedl Fr¢ohold Flxturas and land fittings Clinic equipment Motor vehicles Total Net book value At 31 December 2024 2.084,343 266,435 35,302 2,386,OBO Al 31 December 2023 2. 101,722 248,497 46,466 2,396,685 24. Flxed asset Investments Listed Investments 2024 Total fund5 2024 Cost I Valuallon As at 1 January 2023 Addition 2,OOS,852 57.624 99,308 7,612 146,3621 2,005.852 57.624 99,308 7,612 146,362} Valuation changes Cash movement Disposal Total 2024 2,124,034 2,124,034 Llsl6d Investments 2023 Total fvnds 2023 Cost I Valuatlon As al 1 January 2022 Addifjon Valuation changes Cash movement Disposal Other movements 1,865, 757 58,694 147,874 (14,454) (53,717) 2,298 1,865. 157 58,694 147,874 {74,454J {53, 717) 2,298 Total 2023 2.tW5,852 2,005,852 Page 33 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 25. Flnanclal Instruments 2024 2Q23 Flnanclal asset$ Financial assets measured 8t fair value through income and expenditure 2,124,034 2,(105,852 26. Sto¢ks 2024 2023 Stock 27,512 19, 122 27. Debtors 2024 2023 Due within on• y¥ar Trade debtors Other debtors PrepayTnenls and accrued income 223.981 56,677 805.854 40,534 133,503 753,012 1,086.492 927,049 28. Creditors: Amounts falllng due wlthln one yèar 2024 2023 Trade creditors Other taxation and social socurily Other creditors Accruals and dplerred income 80,939 SS.034 107,841 25.553 59,882 35,217 97.532 82,672 269,367 275.303 Page 34 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINAhlCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Defarrod Income 2024 2023 Arising from grants Room hire paid In advancè PayTnent in adv8nce for events 52,223 650 128 128 52.873 Deferred Income is included in the financial statements as follows.. 2024 2023 Deferred Income is included wthin Current Liabili11gS 128 52,873 Movemonls in the year.. Deferred Income as al 1 January 2024 Released from previous periods Resources deferred in the year 52,873 152,8731 52.873 Deferred income as al 31 December 2024 128 52,873 30. Rgtiremont beneflt schemes Defifted contributlon schemes The charity operates a deflne(S contribution pension scheFne for 811 qualrfwng employees. Th8 asset of the scheme are held separatgly from those of the charity in an independ8nlly administered fund. The charge lo the Stalemgnl of Financial Activities in respect of defined contribution schemes was £34,21912023.. £29,768). Amounts oulslanding 8t the year entl totalled £12.62112023.. £11.775}. Page 35 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 31. Statgm•nt of funds statemènt ol funds - current year Balance at 31 Galnsl DeGember {Lossos1 2024 Balance at 1 January 2024 Transfers Inlo Income Expenditurè Unrestricted funds Deslgnated funds Shop rent Cardiff rehoming f8cility Fixed asset fund Centre upgrade 200,000 200,000 500.000 1.431,884 100,000 500,000 2,386.079 loo,000 954.195 2,231,884 954.195 3.186,079 General lunds G8neral Funds - all funds 2,888,174 2,474,388 12,169,306) 1954,195} 118,182 2,357,243 Total Unrestrlcled funds 5.120,058 2,474,388 12,169,3061 118,182 5.543,322 RestrS¢ted funds Capitsl grant Pets at Home 358,422 9.800 {15.5811 342,841 9,800 Playground Shelter Pet Plan RSPCA Carmarthenshire Branch Transfer RSPCA Cardiff & District Branch 10.028 3.720 11,392) (170) 8,636 3.550 351,747 (5651 351,182 4,000 4.000 Page 36 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 31. Statgmont of funds (Continued) Stalemfrnt of funds . currgnt year (continued) Balance at 31 Galnsl December (Losses) 2024 Balan¢e al 1 January 2024 Transfers Inlout Income Expendlture Welsh Government Community Grant IYsgubor} National Lottery- Ysgubor National Lottery- Volunteer grant Moondance Foundation Ysgubor- Moondance National Lottery- Award for all Bailey Thomas Iysguborl Pelplan (Dog run) Heritage Lollery Ilo commence Jan 20241 Landfill (So13r panels on Ysguborl Oakdale - Café fitting5 Other 245.000 19.8001 235,200 401,178 631 116,072) 385.737 4,357 4,357 42.000 12.0001 40,000 19.600 {2,0001 17,600 3.600 (2.0001 1,600 19,6QO {4001 19,200 4,900 (2001 4.700 7,883 22,170 (27,9591 2,094 44.100 11,8001 42,300 900 {3101 118,466) 590 (6.8371 2.822 8,807 1.181.910 383,355 {98.7151 1.466,550 Page 37 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH . CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 D?slgnat•d funds Shop rent Commitments Dn rental paymenls for the variou5 charity shops leased by the charity. Funds to be released when required by the charity Cardlff rèhoming faclllty The Trustees have designed funds lo invest in a re-homing Centre in Cardiff lo increase their profile within that area. Cèntre upgrade General upgrade to the animal accomodalion as necessary. Flxed assèts Relates to the net boDk value of the charitys unreslrtcted lixed assets. Movement relates to additions, disposals and depreciation in the year. Transfers Dog Run- The dog Tun was completed in the year and no further lunds are required to be designated. Restricted funds Other Included within Other reslrlcled grants are following.. Dwr Cymru Communily grant £360, Cc)op £895. Capilal grant A project lo build a new animal centr& at LIy5 Nini Farm, the Swansea Shop, upgrade to Centre and Centre Vet clinic. The grant is being released lo unrestri¢led funds in line with the depreciation policy. Pets at Home This funding relates to vouchers provided by Pets Al Home lo purchase goods for the animals al the enlre. Playground Shgltgr Funding provided by Mynydd YT Gwair to provide shelter and seating facillties for users of the playground and thgir parent$. Petplan This grant was recoived lo conlribLtle to the Cost of the effluent plant. Nailonal Lottèry Awards for All Grant Teceived lo assist the purchase of a coffee p¢JJ. Income released to unrestricted resw8s when gxpgnded or if capltallsed, In Ilne with depreciation policy. RSPCA Cardlff & Dl$trl¢t Branch Reserve transferred from RSPCA Cardiff and Dislrscl branch to purchase anim81 welfare equipment lor the Cardiff district. Moondance Foundatlon Grant received lo assist the purchase ol the effluent plant. Grant is lo be released lo unrestricted reserves in line with depreciation policy. Pag¢ 38 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH- CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ysgubor A project lo build a Visitor ConlrelCalelDMation hub in the Llys Nini ground. funded by grants from Moondance £20,000, Welsh Government £250,000, National Lottery £217.021, 8all8y Thomas charitable Fund £20,000. The Dog Run Covered run build grant received from Pets at home £10,000 Income lo be releBsed in line with depreciallon. Natlonal Lottery . Awards for All Grant receiv8d lo assist the purchase ol the efflLtenl plant. Grant Is lo b8 r8leased lo unfostricled reserves in line wlh depreciation policy. Lottery Grant Croeso grant which purchased furn¢ture and equipment lo welcome back the volunteer. Income lo bg released in lino with depreciation. Herltage Lottery Grant Grant income recognised relates lo travel, prornolion and staff expenses. The majoirty of the granl has been deferred due lo the performance conditon rglating to the employment of a Communty Heritagg Engagement Officier being met in January 2024. Page 39 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS , LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 32. Summary of funds Summary of funds - current year Balance at 31 Galnsl Decembgr (Losses) 2024 Balancg at 1 January 2024 Transfers inlout In¢omè Expendtture Designated funds General funds Restricted funds 2,231.884 2,888,174 1,181.910 954,195 1954,1951 3.188,079 2,357,243 1,466.550 2,474,388 383,355 12,169,306? 198,7151 118,182 6,301,968 2,857,743 12,268,021} 118.182 7.009,872 33. Analysis of net assets between funds Analysls of net assets between funds- CUTrent perlod Restri¢ted Unrestricted funds funds 2024 2024 Total fund5 2024 Tangible fixed assets Fixed asset investments Current assots CrediloT5 due within one year 2,386,080 2,386,080 2,124,034 2,124,034 1,302,575 2,769,125 1289,3671 {269,3671 1,466,550 Total 1.466,550 5,543,322 7,009,872 Page 40 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS . LLYS NINI BRANCH - CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 33. Analysis of net assèts betwgen funds Icontlnuadl Analysi5 of n•t a$s¥ts between funds - prior period Restn¢ted UnreslriGted funds funds 2023 2023 Total fijnds 2023 Tangible fixed a55els Fixed asset investments Current assets Crgditors due wilhin one year 699,684 1,69T,001 2,396,685 2.005,852 2,005,852 1,640.285 2. 174, 734 (223,080J (275,303) 534.449 (52.223) Total 1, 181,910 5, 120,058 6,301,968 Operatlng lease commllmonts At 31 December 2024 the Charity had commitments lo make future minimum lease payrnents under non. cancellable operating leases 8s follows.. 2024 2023 Not later than 1 year Later than 1 yeai and not later than 5 years 85.513 70.942 116,400 135,013 156.455 251,413 35. Lessor At the reporfing end dale Ihe chority had contracted with tsnants for the follo￿ng mlnimum lease payments.. 2024 2023 Within one year Betmeen two and five years Over five years 33,000 132,000 310.750 33,000 132,000 343, 750 475,750 508,750 Page 41 ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS. LLYS NINI BRANCH. CARMARTHENSHIRE TO CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 36. Capltal Commitments Capital ¢(mmilments at the year end amount lo £125,000 Sn relalalion lo the Installation of a solar farm 12023.. £Nill. 37. Post Balancè Sheet Events In February 2025. a transfèr of £600.000 was made into Ihe investment portfolio from the charitls bank account. During May 2025, the Board made the declsion lo close the Gorseinon shop. Page 42