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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 232223

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

FOR

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

Thomas Coombs Limited Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 20
Statement of Trustees' Responsibilities 21
Report of the Independent Auditors 22 to 24
Statement of Financial Activities 25
Balance Sheet 26
Cash Flow Statement 27
Notes to the Cash Flow Statement 28
Notes to the Financial Statements 29 to 39
Detailed Statement of Financial Activities 40 to 42

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2020

TRUSTEES D Chappell Mrs V Strachan Ms H Place (resigned 30/7/20) B Hopkins Ms M Moran B Tennant D Hinchcliffe A Reynolds L McNally (resigned 26/2/20) S Cox (appointed 10/12/20) D Rhodes (appointed 10/12/20) K Walley (appointed 30/7/20) PRINCIPAL ADDRESS Animal Centre Moor Knoll Lane East Ardsley Wakefield West Yorkshire WF3 2DX REGISTERED CHARITY NUMBER 232223 INDEPENDENT AUDITORS Thomas Coombs Limited Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2020

SENIOR MANAGEMENT TEAM AND OTHER ADVISERS

Senior Management Team

Mrs C Lewis-Jones (CEO) Mrs G Cameron (Branch Administrator) Mrs H Metcalf (Area Retail Manager) Mr A Sep (Finance Officer) Miss S Balmforth (Head of Fundraising & Communications) Miss L Hodgson (Animal Care manager)

Bankers

Santander Bootle Merseyside LS30 4GB

NatWest Bank 1 Victoria Place Holbeck Leeds LS11 5AN

Investment Managers

Brewin Dolphin 10 Wellington Place Leeds LS1 4AN

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of 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) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the Branch is to promote the work and objectives of the National Society within the Branch area. Namely, to use all lawful means to prevent cruelty, promote kindness and to alleviate the suffering of animals.

The Branch gives priority to those animals with a genuine welfare need as identified by members of the RSPCA inspectorate or branch welfare team, such animals may be the subject of an ongoing case or may have been removed with the consent of an owner unable to meet the animal's welfare needs.

Such animals receive appropriate veterinary treatment, rehabilitation, training and rehoming under the direction of the Branch's animal care staff. Prior to rehoming all animals are neutered, microchipped and treated with parasite prevention.

The Branch continues to operate a Snip & Chip scheme, and a welfare assistance scheme to provide financial support to those members of the public on qualifying benefits who might otherwise not have their animals neutered, microchipped or given veterinary treatment due to their financial circumstances.

Staff are assisted in this work by a dedicated team of volunteers to whom the Trustees are extremely grateful.

Public benefit

All charities in England & Wales must have charitable aims that are for the public benefit. It is not enough that the RSPCA's work benefits animals.

Richard Martin, one of the RSPCA's founders, identified the Society's prime aim as being to alter the moral feelings of the country. He recognised that taking care of animals is an essential part of any civilisation. This still resonates today.

Preventing cruelty to animals promotes humane sentiments towards animals in humankind which involves moral benefit to the human community as a whole. Whilst this public benefit is clear, it is difficult to quantify and must be balanced against any detriment.

The RSPCA's work benefits society at large, but it also provides services (e.g. subsidised veterinary treatment) aimed at helping people in need with the care of their animals. Additionally the branch and society assist in animal welfare education and guidance to young people and the wider community to help people maintain high regard for animal welfare.

The following sections of this report on the achievements and performance of the Branch describe the Branch's main activities and demonstrate the benefit provided to the public. All our charitable activities focus on promoting kindness and preventing or suppressing cruelty to animals and is undertaken to further these charitable purposes for the public benefit.

In accordance with their duties, pursuant to Section 4 of the Charities Act 2011, the Trustees have considered the Branch's objects and activities in the light of the Charity Commission's general guidance on public benefit, "Charities and Public Benefit".

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities Animal welfare

During 2020 the Branch found itself in the midst of the COVID 19 pandemic which impacted heavily on the activities of the charity, including animal intake, adoptions and rehoming and in severely adverse conditions managed to achieve the following results in the four key areas of animal welfare activity (rehoming, welfare neutering, welfare microchipping, welfare assistance):

127 rehomed animals (2019: 290 animals) 43 dogs- (2019: 76) 73 cats- (2019: 192) 11 rabbits- (2019: 22) 0 misc- (2019: 0)

63 neutered animals (2019: 296 animals) 9 dogs- (2019: 79) 50 cats- (2019: 194) 4 rabbits- (2019: 23)

98 micro-chipped animals (2019: 291 animals) 19 dogs- (2019: 76) 72 cats- (2019: 193) 7 rabbits- (2019: 22 0 misc- (2019:0)

0 animals provided with welfare assistance (flea/worming/emergency treatment) (2019: 1 animals) 0 dogs- (2019: 1) 0 cats- (2019: 0) 0 misc- (2019: 0)

During 2020 the branch needed to control the day to day costs at the animal centre with even more efficient operations and use of as much donated food, toys and goods as possible. Expenditure is identified for veterinary treatment for animals in need of rehoming but who require medical intervention to ensure the animal is fit and well for their new home. However, with adoptions and rehoming much reduced and only allowed for the welfare of the animals in care and not coping with kennels, funds were needed for more toys to assist with boredom and for behaviour assistance to help the animals cope better in a foster home or at the centre for extended periods.

The branch continued in 2020 with a contract with the PDSA for cost effective and appropriate veterinary treatment for animals in our care. However, this provision was tested under COVID 19 restrictions and access to veterinary treatment was challenging. The branch found it necessary to purchase additional veterinary services from other local vets while the PDSA was closed to all but emergency treatment. At the end of 2020 the PDSA decided to end all contractual services to business customers and we proceeded to find a long term alternative veterinary provider.

The branch's work with other organisations, schools, colleges and attendance at welfare events stopped. During lockdown the CEO and Animal Care Manager did participate in a number of zoom events online with local colleges, to support student learning about the RSPCA and the variety of employment opportunities available in animal welfare.

The branch was no longer able to host physical events or attend external venues and therefore the interactive website and active social media pages were the most effective and the most desirable means of communicating with our supporters & donors, giving information, advice and direction about all the services we will offer, when possible, in the future and the aims and objectives of the charity in West Yorkshire. Our online presence with increased activity help generate much needed funds to support the charity.

We intend to continue with some newly developed online activity alongside the reopening of physical events as it has proved so successful. Development plans include updating the website to ensure it is highly user friendly and installing a CRM to help manage all the data we now have and communicate more effectively with supporters and donors.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The branch concentrated on taking care of the animals already in rescue during COVID 19 lockdown; being available for emergency intake from the inspectorate only, as we were closed to the public and supporting the key working animal care team to care for the animals in the centre and remotely support the foster care team in the community

The off lead facility at the centre which helps owners and their nervous or reactive dogs enjoy the outdoors safely remained open initially, along with the grooming salon but as the pandemic continued and travel was to be discouraged we closed the facility to support a COVID 19 secure environment and promote social responsibility towards preventing virus transmission wherever possible.

The centre attempted to continue safe receipt of donations with 'drive thru' no human contact days but this was only possible in the early months of 2020. Hopefully this can restart once the lockdown is eased.

The branch has faced considerable challenges in the current pandemic to make ends meet and continue the animal welfare provision it is committed to fulfilling. Our ability to support the Inspectorate and members of the public across all areas of the charity was challenged to its very limit and it was the dedication and resilience of the team, our supporters and sponsors which has allowed the branch to achieve as much as it has in such adversity.

Following the government rules on ensuring a COVID 19 secure environment, social distancing, increased hand washing and the wearing of face coverings, along with the guidance from DEFRA, the branch has been able to maintain good staffing levels, high quality animal care and a committed approach to supporting the whole branch team during the pandemic in areas of mental health, provision of PPE, recognition of their efforts in such challenging circumstances and ensuring team members were able to self-isolate or be placed on furlough if necessary without the worry of financial hardship.

Despite all the challenges above, the branch still has plenty of good things to say about its role in animal welfare in 2020 and what has been achieved.

The graphs below give some indication of where money is spent and what can be achieved, despite a challenging COVID 19 climate which looks to continue well into 2021.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities

In normal circumstances there is a dedicated budget for providing welfare services, education & community support. However, in 2020 this provision has been severely curtailed and all support and communication has been virtual.

There has been a reduction in overall vet fees due to a much reduced number of animals being brought to the centre and rehomed, however, due to having to purchase alternative veterinary services outside the PDSA, the costs per animal has increased considerably.

A new and more affordable veterinary service has been found for 2021 and the costs per animal should start to regain more normal levels of expenditure.

Costs for animal care and ongoing rehoming is much reduced in 2020 due to the centre activities only permitted for urgent welfare requirements. All visits to the centre are by appointment only and all adoptions must be done online and the animal delivered to the adopter within the branch area.

Although the centre was closed to the public, we had a number of animals who were struggling with the kennel environment. A volunteer kindly took up the position of Foster Coordinator to help manage the response to appeals for practical animal care assistance in the community.

A long standing volunteer, with a speciality in hand rearing kittens, developed an information sheet to help people at home with Kittens in need of special care. Online support was also developed by way of information and videos on how to manage animal behaviour issues and this proved to be very successful both in animal welfare provision and generating much needed income through donations for the centre. Donations continue to be sent to Batley's food bank for the homeless with pets. A letter of thanks was extended to us as many other donors pulled out during the Covid-19 pandemic.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities

----- Start of picture text -----
Vet fees & treated animals 2016-2020
127
2020 18,251
290
2019 19,389
259
2018 23,851
351
2017 42,013
311
2016 36,470
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000
Treated animals Veterinary fees
----- End of picture text -----

----- Start of picture text -----
Treatment cost per pet 2016-2020
£143.71
£117.27 £119.69
£92.09
£66.86
2016 2017 2018 2019 2020
----- End of picture text -----

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities

----- Start of picture text -----
Veterinary fees 2016-2020
£45,000
£40,000
£35,000
£30,000
£25,000
£20,000
£15,000
£10,000
£5,000
£-
2016 2017 2018 2019 2020
----- End of picture text -----

----- Start of picture text -----
Net Animal Care & Rehoming cost 2016 -
2020
200,000
150,000
100,000 Boarding & Rehoming
Trend line
50,000
0
2016 2017 2018 2019 2020
----- End of picture text -----

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities

----- Start of picture text -----
Rehomed Animals 2016 - 2020
400
350
300
250
200 Rehomed Animals
150 Trend Line
100
50
0
2016 2017 2018 2019 2020
----- End of picture text -----

There are many good news stories to share despite the 2020 difficulties and here are a few below.

Hector was abandoned outside the centre during lockdown and left tied up at the main gate. He had suffered abuse and took a long time to trust anyone. He also responded to German commands and his adjustment to a better life continues. Bully was brought to us in need of significant health care and fortunately with an appeal we managed to pay for major surgery and recuperation, leading to a successful adoption just before Christmas.

The branch provides care to animals that are not signed over to the branch and remain in National Society care, pending investigation for animal cruelty or neglect. This additional service to the Inspectorate provides high quality interim animal care to animals in most need. Although a much reduced need in 2020 due to the inspectorate attending only emergencies, the branch has been able to offer more space for animals most in need. The branch receives daily calls from the inspectorate. The Branch continues to offer emergency boarding facilities for small animals for the inspectorate to access where needed.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities

Early in 2020 the branch embarked on a new venture by opening its own Animal Grooming Salon, although unfortunately it was short lived and had to close again due to the pandemic. However, the branch hopes to reopen Berties again in 2021 having developed a loyal customer base and is confident that a high quality service can be resumed.

The branch was fortunate enough to receive a grant from the National Society Regional Board fund to help build a planned extension and isolation unit to the cattery intake provision at the centre. In addition we received a large donation to assist this build.

This facility allows the branch to increase its cat intake capacity, improve flow through the main cattery and prevent a 'log jam' and therefore delay animals ready for rehoming. In addition the extension has provided a dedicated isolation unit for prevention of infection, the ability to take cats with disease who are poorly and need barrier care or for transfer of cats from the main catteries to prevent other cats becoming infected.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Fundraising activities

The branch continues to have a strong relationship with both the Pets at Home partnership and Pet Plan. Both organisation support our work with donations to purchase animal supplies and to encourage adopters to consider animal vet insurance.

The branch applies for grants where possible and during the pandemic this has been even more critical for the continuation of charitable services and sustained animal welfare work.

During 2020 the changing shape of fundraising and events and activities has allowed opportunities to be optimised and new ways of communicating with supporters and new identified needs.

Although we faced many challenges as a branch in 2020 due to the pandemic, we have also created new opportunities & ideas that we can take forward with us year on year.

With everything coming to a halt in March last year when the first lockdown began, we had to adapt in the quickest way possible to the new norm for fundraising - online and virtual! Along with a Just Giving Campaign to ask supporters for help, we set up our very first online raffle and since then have continued to hold monthly raffles to raise funds for our animals.

Due to schools being closed and parents stuck for new ideas on how to keep their children entertained at home, we created animal related activity workbooks, which were a big hit and generated some much-needed funds for the animals at our Animal Centre. We organised a number of online pet shows for pet owners to enter their best pet photos and we started a bi-monthly themed quiz.

Lockdown meant that people had a lot of free time on their hands and many people decided to have house clear outs. We decided to organise a 'Donation Drive-Thru' where people would gather all of their unwanted items and simply drop it off to us. We were overwhelmed with the amount of donations and support we received (completely running out of space to store everything!). Because of the success of the 'Donation Drive-Thru'' in the early months of 2020, these will be continued in 2021 when restrictions are lifted to allow us to do so.

Due to not being able to hold our annual Open Day at the centre, we decided to bring our centre online and run some live tours to let our supporters meet the animals we have in at our centre. The feedback generated from these live tours was amazing and we look forward to being able to hold many more of these in the future.

Overall, throughout the many difficulties we faced as a branch last year, we were just completely overwhelmed with the incredible support we received and we can't thank our supporters enough for their continued support. The graph below clearly shows the level of support extended to us.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Fundraising activities

----- Start of picture text -----
Fundraising income (excl. D2D and legacies)
£100,000
£90,000
£80,000
£70,000
£60,000
Fundraising income
£50,000
£40,000 Linear (Fundraising
income)
£30,000
£20,000
£10,000
£-
2016 2017 2018 2019 2020
----- End of picture text -----

The animal care team decided to do some fundraising themselves and took on a 2,000km walking challenge to raise much needed funds. Raising £775 for the centre.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE

Charity shops network

The biggest impact from the pandemic has been felt in the income generation areas of the charity, the means to operate its shops and services.

To help fund Branch activities and fulfil charitable objectives a network of charity shops is operated by the branch, which sell mainly second-hand goods donated by the public, plus a small amount of animal related new goods.

The charity relies on this activity to sustain its welfare work and animal care facility.

The branch operates 4 retail trading premises, an ecommerce operation and a small stock generation team continues to support the retail network with a full time driver and a small team of volunteers. Gift Aid claims continue to be submitted in line with regulation & compliance with HMRC.

House collections of donated goods by appointment & house clearances from local housing associations has not continued and with over the door donations not possible with shops shut, the acceptance and generation of donations has been severely affected.

The impact of the lockdowns on the retail network has been that all shops have remained shut for most of 2020 and the retail team placed on furlough. The branch took the decision to top up salaries for those on furlough so that self-isolation and financial hardship was not a factor in an individual's decision to prevent the spread of infection. Anyone remaining in work and required to self-isolate at any time, was supported financially to do so.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charity shops network

Senior members of the team worked from home and this approach worked very well as flexible working has always been supported by the branch.

After the initial total lockdown, the branch eBay operations found a safe and practical COVID 19 secure approach to continuing to operate according to government regulations for online shopping. The ecommerce operations has continued for some months now and has made a significant contribution to the charity.

The branch eBay shop is very proud of its reputation for great customer service and this continues to be seen in a sustained 100% positive feedback score.

Positive Feedback (last 12 months): 100%

EBay Top-rated seller:

One of eBay's most reputable sellers. Consistently delivers outstanding customer service.

Perfect, thank you for the easy transaction!

Delighted with my item and your speedy service. Another satisfied customer! Fast delivery, lovely item as described. Great seller, for a great cause. 😻

The charity has been able to apply for government help during lockdown and has been awarded financial support for locations with forced shut down and according to rateable value. In addition furlough grants were also applied to assist with wages. Although this goes some way to assist the branch make ends meet, it is an ongoing challenge to sustain the charity and its activities. The branch did receive a significant legacy in 2020 which has helped significantly and placed the branch in a positive financial position at the start of 2021. It is expected that 2021 will be equally challenging financially, especially as income generation activities reopen, albeit slowly and grant funding stops.

In addition to financial support, the branch also took advantage of every opportunity to change and develop despite COVID 19. The plan to open a warehouse and change operations to centralised donation processing was driven to change more quickly than expected. It is hoped that in early 2021, the reopened shops will be provided with ready to sell goods and that the ecommerce operations will be supplied more efficiently with suitable goods for sale. Processing at the shops will cease and the team will concentrate on customer service, shop layout to enhance the customer experience and a more concentrated promotion of the charity and its objectives.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE

While we were able to open our shops earlier in the year, we were very proud to hear that our Rothwell shop was inspected by the local authority regarding being COVID 19 secure and that the inspectors were very pleased with our approach. The branch took its responsibility to the staff, volunteers and customers very seriously and at all our locations, ensured a strict regime for face coverings, hand washing, use of PPE and social distancing. All locations used signage, risk assessments and policy document to support, instruct and build confidence in the teams.

A decision was made in 2020 not to renew the lease of the Bramley Shop. The rent was significantly higher than other shops in the network and it was not thought possible to achieve a profit in 2021, especially in a pandemic climate. The shop ceased trading at the lockdown in November/December and did not reopen. The lease ends on 24th February 2021.

Although there are many highlights to show in 2020, despite the COVID 19 situation, unfortunately there is also a serious incident to report which affected the charity both on a financial level but on an emotional level too. An investigation found a team member to be defrauding the charity of money and goods through its ecommerce operations. Although the financial impact was relatively small, the impact on the sense of trust and confidence in each other took time to repair. The incident was reported to the Charity Commission and Police action was taken against the perpetrator, leading to prosecution. The charity received a small amount of victim compensation. The charity is currently undergoing a review of its ecommerce platforms and will be engaging additional software, Shopiago, to separate listing activity from financial activity and introducing more monitoring capability.

In the animal centre, care staff and a small group of volunteers remained at work as key workers to care for the animals on site. The senior management team worked from home with only essential & controlled visits to their office when absolutely necessary to keep the charity operational.

In the latter part of 2020, the weather became an additional challenge, alongside COVID 19 and the animal care team were outstanding in their efforts to maintain a COVID 19 secure approach but also keep the animals at the centre safe too.

Staffing

The total number of staff employed by the Branch as at 31st December, 2020 is outlined below:

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE FINANCIAL REVIEW Financial position

The financial statements are as presented on pages 25 to 42 inclusive.

The total incoming resources for the year was some £957,730 (2019: £586,706) including legacies of £371,382 (2019: £75,919), expenditure was some £842,946 (2019: £831,446) resulting in a net surplus for the year of £114,784 (2019: deficit of £244,740) before recognised gains and losses on investments. The charity shops network brought in sales and related income of £343,385 (2019: £381,947) against expenditure of £373,444 (2019: £347,677) yielding a net loss of £30,059 (2019: £34,270 profit) over the year.

During 2020 £371,382 was received in legacies and the Trustees would like to extend their thanks to all those people who thought about the Leeds, Wakefield & District Branch and who gave so generously in their wills.

Investment policy and objectives

During 2020 Brewin Dolphin investment managers have continued to manage an animal welfare orientated ethical portfolio, on our behalf.

Brewin Dolphin seek to maximise capital appreciation from a portfolio of medium risk securities. During 2020 the portfolio made a total return of -3.95%. This compared to a total return in the MSCI WMA Income index of +1.94%. The market value of the investment portfolio was £431,329 at 31 December 2020. The investment strategy of the portfolio was adjusted on 30 September 2020 and for the final quarter of the year the portfolio outperformed the benchmark adopting this new strategy.

The policy is reviewed on an annual basis following the publication of the audited annual accounts for the previous year and market trends.

The board of Trustees has appointed an investment sub-committee to review the branch's investment portfolio with the branch professional advisers to ensure the branch continues to gain the highest possible return on its investment. The committee is now in a stronger position to review potential investments for a greater return than has been available to them previously, as the branch animal centre capital expenditure is almost fulfilled. However given the current economic climate and uncertainty with regards to the global pandemic, the Finance & Investment Committee will be held every 2 months to ensure that investment portfolio returns are optimised where possible and robust recommendations are submitted to the Board of Trustees.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

FINANCIAL REVIEW

Reserves policy

At the end of the year the Branch held an accumulated fund of some £2,603,974 (2019: £2,519,698).

Since their appointment the Trustees have reviewed & rewritten the Branch reserves policy and agreed the following:

The Trustees therefore agreed to exclude tangible fixed assets such as property, vehicles and equipment together with any restricted or designated funds held by the Branch from the calculation of general reserves.

The total funds held by the Branch as at 31st December 2020 were some £2,603,974 (2019: £2,519,698) of which tangible assets represent some £1,751,430 (2019: £1,719,723). Restricted funds as at 31[st] December 2020 totalled £5,000 (2019: £Nil) and therefore available reserves as at the end of December 2020 were £847,544 (£2019: £799,975) which would cover the overall Branch costs for a period of 12.2 months.

The Charity's reserve policy is to hold a minimum of six months' reserves to ensure continued financial security and to provide for Contingencies

It is the opinion of the Trustees that the existing reserves are insufficient to meet any further reduction in incoming resources. Over future years it is therefore the intention of the Trustees to focus on balancing the budget whilst developing future plans to increase available reserve levels with new income streams. It is anticipated that investment of free reserves will improve the financial stability of the branch.

In the early months of 2020, the branch was operating in an increasingly difficult environment due to the impending impact of the COVID19 crisis. During March 2020, the Charity locked its doors on the high street and in ecommerce, along with all services usually provided by the animal centre team. The Charity's priority in the initial lockdown was to protect its staff and volunteers and continue with key workers to provide essential animal care.

The Charity's entire income generation operations were stopped as at the 24th March 2020 and as grants and government help became available, the charity applied for all possible financial assistance, including rental holidays for the retail units.

The Charity furloughed retail staff; provided the means for all the senior management team to work from home and for the animal centre key workers to remain on site, taking all the precautions required to protect themselves.

The Charity continued to apply for grants to help sustain it through the months of lockdown and recovery and although income generation activity will slowly resume, it will need to rely on reserves and legacy donations to a greater degree in the next twelve months and possibly beyond.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

FUTURE PLANS

The Trustees are constantly reviewing Branch activities to ensure that the Branch is in a position to:

As part of this activity the Trustees are focussing with key staff on the ongoing Branch business plan with a 1,2,3 year plan to identify the priority activities for the Branch to undertake in the years ahead, make a positive impact on the risk of a budget deficit and counteract the ongoing & lasting financial effect of the pandemic.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Charity constitution

The RSPCA Leeds, Wakefield & District Branch (the Branch) is constituted as a charitable unincorporated association and is governed by the RSPCA Branch Rules (as revised in September, 2006).

The Branch adopts the policies of the Royal Society for the Prevention of Cruelty to Animals (the National Society), but has been a separately registered charity since 1963 in accordance with the Charities Act.

Organisation and management

The CEO, supported by a Senior Management Team acts on the authority of the committee and undertakes the day-to-day management of the Branch. The CEO reports to the Trustees.

The Branch runs a network of 3 charity shops, an eBay shop, an animal centre & shop, branch headquarters and various services to the public including off lead play area, Berties Grooming Salon, welfare services and hire of space for businesses and support services for animals owned by members of the public. The branch is also supported by a small stock generation team, Head of Fundraising & Communications, Digital Communications Assistant and reception team. The retail outlets sell mainly second-hand goods donated by the public to raise funds for the Branch's charitable activities but also stock a small number of items to sell to adopters and pet owners.

The branch is focussing on high quality, affordable & short term animal care with an overall aim of rehoming animal victims of cruelty as effectively & efficiently as possible for the benefit of the animal.

The Branch works closely with staff from the National Society and in particular RSPCA Inspectors, Animal Welfare Officers and Animal Collection Officers in pursuit of the charity's objectives, along with collaboration with neighbouring branches to achieve the overall aims of the organisation.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Decision making

The charity is governed by a Committee elected from amongst the Branch membership at each Annual General Meeting to manage the affairs of the branch for the ensuing year.

The Committee must consist of a minimum of seven and not more than fourteen elected members and has the power to co-opt a further three members who shall be Trustees of the Branch until the next Annual General Meeting.

The officers of the Branch are appointed from amongst the Committee and shall, as a minimum, consist of a Chairman, Secretary and Treasurer all serving in an honorary capacity.

The charity trustees have individual and collective responsibility for the management of the Branch and its funds. Subject to the overall supervision of the National Society, the Committee controls and monitors all the fundraising and animal welfare initiatives undertaken by the Branch.

Key management remuneration

The Senior Management Team comprises of key management personnel who are delegated by the Board of Trustees to control, run and operate the charity on a day to day basis.

The Board of Trustees receive no remuneration for the time they give to the management & governance of the charity. Details of expenses and related third party transactions are disclosed in the accounts.

The pay of senior staff is reviewed annually in line with the charity pay review procedure and decisions are made in relation to increases based on related industry benchmarked earnings & data provided by the RSPCA National Society.

All staff salaries are reviewed in line with branch policy to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles within the charity sector or in breach of statutory government minimum or living wage rates.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Branch has a risk management strategy, which comprises:

The Trustees have identified these main areas of risk:

The Trustees have implemented an ongoing review of the Branch's policies, procedures and controls to ensure that these are adequate to mitigate the main identified risks. A formal Business risk management document is in place and reviewed annually.

The Finance & Investment Sub Committee meet frequently to review the cash flow in light of the ongoing impact of COVID 19.

Page 19

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST DECEMBER 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Donations

Donations to the charity should be sent to the Trustees at the registered office. Cheques should be made payable to "RSPCA Leeds, Wakefield & District Branch". Alternatively, donations may be made online and further details of this are available on our website.

Approved by order of the board of trustees on 18[th] March 2021 and signed on its behalf by:

D Chappell – Chair of Trustees

Page 20

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31ST DECEMBER 2020

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 21

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

Opinion

We have audited the financial statements of RSPCA Leeds, Wakefield and District Branch (the 'charity') for the year ended 31st December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 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 charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 22

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Based on our understanding of the entity and sector in which it operates, we identified the principle risks of non-compliance with laws and regulations related to charitable trusts and the application of charitable funds. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We evaluated managements and those charged with governance, incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined the principle risks were related to management bias in accounting estimates, especially dilapidation provisions.

In a response to these risks, audit procedures performed by the engagement team included:

There are inherent limitations in the audit procedures described above and the further removed non compliance of laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one resulting from error, as fraud my involve deliberate concealment.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Page 23

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

Thomas Coombs Limited Statutory Auditor Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB

Date: 18[th] March 2021

Page 24

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Animal welfare
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Other costs
Employee costs
Direct costs on animal welfare
Premises costs
Governance costs
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
582,294
51,747
216,363
11,974
1,326
863,704
420,416
47,760
250,758
15,125
83,634
4,153
821,846
(30,508)
11,350
67,926
79,276
2,519,698
2,598,974		 Restricted
funds
£
82,962
-
11,064
-
-
94,026
-
-
7,500
13,600
-
-
21,100
-
72,926
(67,926)
5,000
-
5,000		 2020
Total
funds
£
665,256
51,747
227,427
11,974
1,326
957,730
420,416
47,760
258,258
28,725
83,634
4,153
842,946
(30,508)
84,276
-
84,276
2,519,698
2,603,974		 2019
Total
funds
£
117,021
57,646
381,947
22,764
7,328
586,706
399,361
49,580
250,217
35,149
93,594
3,545
831,446
51,148
(193,592)
-
(193,592)
2,713,290
2,519,698

The notes form part of these financial statements

Page 25

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

BALANCE SHEET 31ST DECEMBER 2020

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds:
Free charitable reserve
Fixed asset reserve
Restricted funds:
Carole Mullins
TOTAL FUNDS		 Unrestricted
funds
£
1,751,430
431,329
2,182,759
170,881
317,783
488,664
(72,449)
416,215
2,598,974
2,598,974		 Restricted
funds
£
-
-
-
-
5,000
5,000
-
5,000
5,000
5,000		 2020
Total
funds
£
1,751,430
431,329
2,182,759
170,881
322,783
493,664
(72,449)
421,215
2,603,974
2,603,974
847,544
1,751,430
5,000
2,603,974		 2019
Total
funds
£
1,719,723
455,015
2,174,738
34,132
362,927
397,059
(52,099)
344,960
2,519,698
2,519,698
799,975
1,719,723
-
2,519,698

The financial statements were approved by the Board of Trustees and authorised for issue on 18[th] March 2021 and were signed on its behalf by:

D Chappell – Chair of Trustees

S Cox - Trustee

The notes form part of these financial statements

Page 26

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Investment income
Net cash used in investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period		 2020
£
54,362
54,362
(99,658)
(323,362)
316,540
11,974
(94,506)
(40,144)
362,927
322,783		 2019
£
(176,813)
(176,813)
(16,955)
(130,894)
114,002
22,764
(11,083)
(187,896)
550,823
362,927

The notes form part of these financial statements

Page 27

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2020

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Losses/(gain) on investments
Loss on disposal of fixed assets
Investment income
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operations		 2020
£
84,276
67,850
30,508
101
(11,974)
(136,749)
20,350
54,362		 2019
£
(193,592)
75,972
(51,148)
-
(22,764)
28,833
(14,114)
(176,813)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/20 Cash flow At 31/12/20
£ £ £
Net cash
Cash at bank 362,927 (40,144) 322,783
362,927 (40,144) 322,783
Total 362,927 (40,144) 322,783

The notes form part of these financial statements

Page 28

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The Trustees consider that there are no material uncertainties about the Charity's ability to continue for a period of not less than 12 months from the date of approval of the financial statements. Accordingly the financial statements have been prepared on the going concern basis.

Income

Donations and sponsored events are included in the Statement of Financial Activities when:

Legacies are recognised when it is probable that they will be received. Receipt is normally probable when:

Gifts donated for resale are included as income following their sales together with any related gift aid income (recognition of income before the date of sale is not considered appropriate due to the excessive costs of obtaining the relevant information). Accordingly no stock value is attributed to goods held at the balance sheet date.

The charity operates a retail gift aid scheme to reclaim gift aid on the value of donated foods sold for those donors registered with the scheme.

No amounts are included in the financial statements for services donated by volunteers.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accruals model.

Interest is accounted for on an accruals basis.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

All expenditure is accounted for net of recoverable VAT.

Cost of charitable activities compromise all costs, including depreciation, incurred in respect of and directly attributable to the operation and maintenance of the animal centre in the Leeds & Wakefield district.

Costs of raising funds includes the overhead costs directly attributable to operating the charity's shops, as well as events and investment portfolio management.

continued...

Page 29

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

1. ACCOUNTING POLICIES - continued

Expenditure

Support costs are those costs incurred directly in support of expenditure in furtherance of the charity's objective.

Governance costs comprise the costs attributable to the management of the charity's assets and organisational administration.

The cost of volunteer time is not accounted for as this cannot be estimated reliably.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Costs includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided to write off the cost less the estimated residual of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:

Freehold property - 4% on cost and 2% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Investments

Investments held by the charity are shares which are publicly traded. Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SoFA.

Pension costs

The Charity contributes to defined contribution schemes on behalf of some of its employees. These contributions are charged to the SoFA when accrued.

Financial instruments

Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss.

continued...

Page 30

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

2. DONATIONS AND LEGACIES

Door to door donations
Other donations
Legacies
Grants
Grants received, included in the above, are as follows:
Other grants
Support adoption for pets
Petplan
Rose animal welfare trust
BGL
Cat Iso extension from regional board
Regional board
COVID business grants- charitable activities
COVID business grants- trading activities
Furlough grants- trading activities
3.
OTHER TRADING ACTIVITIES
Fundraising events
Shop income
Rental income
Pet grooming
4.
INVESTMENT INCOME
Dividends from UK listed investments
Interest receivable		 2020
£
25,174
42,835
371,382
225,865
665,256
2020
£
2,000
12,500
3,600
10,000
5,000
38,862
12,945
25,000
92,334
23,624
225,865
2020
£
52,122
161,911
7,675
5,719
227,427
2020
£
10,518
1,456
11,974		 2019
£
26,736
14,366
75,919
-		 2019
£
26,736
14,366
75,919
-
117,021
2019
£
-
-
-
-
-
-
-
-
-
-
-
2019
£
52,208
321,370
8,369
-
381,947
2019
£
19,661
3,103
22,764

continued...

Page 31

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

5. INCOME FROM CHARITABLE ACTIVITIES

Activity
Animal centre adoption
Animal welfare
Pet insurance commission
Animal welfare
Case animals
Animal welfare
Grants
Animal welfare
Use of animal centre
Animal welfare
Grants received, included in the above, are as follows:
Neutering grant
6.
RAISING FUNDS
Raising donations and legacies
Fundraising costs
Other trading activities
Purchases
Staff costs
Property leases
Rates and water
Insurance, light and heat
Telephone, postage, stationery and sundries
Legal fees
Motor and travelling
Staff training		 2020
£
13,605
1,756
28,088
-
8,298
51,747
2020
£
-
2020
£
43,750
2020
£
4,291
198,402
96,194
3,864
11,398
54,763
495
3,618
419
373,444		 2019
£
30,103
1,431
14,822
743
10,547
57,646
2019
£
743
2019
£
48,328
2019
£
4,029
172,784
94,283
9,361
12,800
45,003
1,984
6,711
722		 2019
£
30,103
1,431
14,822
743
10,547
57,646
2019
£
743
2019
£
48,328
347,677

continued...

Page 32

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

6. RAISING FUNDS - continued

Investment management costs
Portfolio management
Aggregate amounts
7.
CHARITABLE ACTIVITIES COSTS
Other costs
Employee costs
Direct costs on animal welfare
Premises costs
Governance costs
8.
SUPPORT COSTS
Other costs
Employee costs
Premises costs
Governance costs		 2020
£
3,222
420,416
Support
Direct
costs (see
Costs
note 8)
£
£
30,417
17,343
180,691
77,567
28,725
-
51,794
31,840
-
4,153
291,627
130,903
Governance
Other
costs
£
£
17,343
-
77,567
-
31,840
-
-
4,153
126,750
4,153		 2019
£
3,356
399,361
Totals
£
47,760
258,258
28,725
83,634
4,153
422,530
Totals
£
17,343
77,567
31,840
4,153
130,903

Support costs relate to expenditure incurred by the branch office. Direct costs relate to expenditure incurred by the animal centre.

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.

continued...

Page 33

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

9. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

There were no trustees' expenses or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2020
£
464,583
25,664
7,447

497,694
 2019
£
428,723
25,591
6,615
460,929

The gross remuneration of the senior management team during the year was £156,091 (2019: £153,009).

The average monthly number of employees during the year was as follows:

Administration
Management
Animal care
Charity shops
Fundraising		 2020
3
2
15
7
2
29		 2019
3
2
12
9
1
27

No employees received emoluments in excess of £60,000.

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Animal welfare
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds		 Unrestricted
funds
£
117,021
56,903
381,947
22,764
7,328
585,963
399,361		 Restricted
funds
£
-
743
-
-
-
743
-		 Total
funds
£
117,021
57,646
381,947
22,764
7,328
586,706
399,361

continued...

Page 34

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
Charitable activities
Other costs
49,580
Employee costs
250,217
Direct costs on animal welfare
34,406
Premises costs
93,594
Governance costs
3,545
Total
830,703
Net gains on investments
51,148
NET INCOME/(EXPENDITURE)
(193,592)
RECONCILIATION OF FUNDS
Total funds brought forward
2,713,290
TOTAL FUNDS CARRIED FORWARD
2,519,698
12.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
fittings
£
£
COST
At 1st January 2020
1,907,945
378,793
Additions
75,518
24,140
Disposals
-
(9,352)
At 31st December 2020
1,983,463
393,581
DEPRECIATION
At 1st January 2020
217,399
354,319
Charge for year
49,680
17,119
Eliminated on disposal
-
(9,251)
At 31st December 2020
267,079
362,187
NET BOOK VALUE
At 31st December 2020
1,716,384
31,394
At 31st December 2019
1,690,546
24,474		 Restricted
funds
£
-
-
743
-
-
743
-
-
-
-
Motor
vehicles
£
13,291
-
-
13,291
8,588
1,051
-
9,639
3,652
4,703		 Total
funds
£
49,580
250,217
35,149
93,594
3,545
831,446
51,148
(193,592)
2,713,290
2,519,698
Totals
£
2,300,029
99,658
(9,352)
2,390,335
580,306
67,850
(9,251)
638,905
1,751,430
1,719,723

The freehold property is utilised as an animal centre and head office of the charity.

continued...

Page 35

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

13. FIXED ASSET INVESTMENTS

Cash and
Listed
settlements
investments
pending
£
£
MARKET VALUE
At 1st January 2020
443,505
11,510
Additions
328,998
(5,636)
Disposals
(372,038)
-
Revaluations
24,990
-
At 31st December 2020
425,455
5,874
NET BOOK VALUE
At 31st December 2020
425,455
5,874
At 31st December 2019
443,505
11,510		 Totals
£
455,015
323,362
(372,038)
24,990
431,329
431,329
455,015

All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Asset sales and purchases are recognised at the date of trade at cost (transaction value).

The total value of the portfolio at 31st December 2020 was £431,329. The historical book cost was £382,533. The largest single holding was Aegon (a bond fund), which amounted to 6.05% of total assets. The second largest holding was Royal London ethical bond, which amounted to 5.98%. The next largest holdings were Baillie Gifford (5.87%) and Fidelity UCITS (5.11%). No other individual investment represented more than 5% of the total investment portfolio valuation.

The main risk to the Charity from financial instruments arises from uncertain investment markets resulting in variable income and capital returns from the portfolio of assets.

Currency translation risks remain for those companies and bonds that are exposed to overseas earnings and assets.

Liquidity risk is anticipated to be low as all assets are traded on recognised exchanges with good liquidity and high trading volumes. The Charity's portfolio has no material investment holdings in markets subject to exchange controls or trading restrictions.

The Charity manages investment risk by appointing professional investment managers and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges.

The Charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term total return. Whilst some level of volatility can reasonably be expected, historic studies of quoted financial instruments have shown that volatility in any particular five year period will normally be corrected.

continued...

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
VAT
Prepayments
Accrued legacies		 2020
£
2,952
27
12,635
24,094
131,173
170,881		 2019
£
2,083
27
5,678
26,344
34,132

Some accrued legacy income may be received more than one year after the balance sheet date but it is not practical to estimate the amount due to uncertainty in the timing of the receipt of legacy income.

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Other creditors		 2020
£
21,504
5,989
44,956
72,449		 2019
£
10,669
6,288
35,142
52,099

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2020
£
-
116,084
102,917
219,001		 2019
£
3,642
64,473
210,417
278,532

continued...

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

17. MOVEMENT IN FUNDS

At 1/1/20
£
Unrestricted funds
Free charitable reserve
2,519,698
Restricted funds
Carole Mullins
-
Cat isolation appeal
-
Cat Iso extension from regional board
Cat isolation donation
-
-
-
TOTAL FUNDS
2,519,698
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Free charitable reserve
863,704
Restricted funds
Support adoption for pets
12,500
Petplan
3,600
BGL
5,000
Carole Mullins
5,000
Cat isolation appeal
6,064
Cat Iso extension from regional board
Cat isolation donation
38,862
23,000
94,026
TOTAL FUNDS
957,730
Comparatives for movement in funds
Unrestricted funds
Free charitable reserve
TOTAL FUNDS		 Net
movement
in funds
£
11,350
5,000
6,064
38,862
23,000
72,926
84,276
Resources
expended
£
(821,846)
(12,500)
(3,600)
(5,000)
-
-
-
-
(21,100)
(842,946)
At 1/1/19
£
2,713,290
2,713,290

continued...

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Free charitable reserve
Restricted funds
Neutering grant
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
585,963
(830,703)
743
(743)
586,706
(831,446)		 Gains and
Movement
losses
in funds
£
£
51,148
(193,592)
-
-
51,148
(193,592)

Restricted funds

Pet plan - a grant received to be used to contribute towards the charity’s vet bills.

Support adoption for pets - a grant received to be used to contribute towards the charity’s vet bills and animal care staff salaries.

BGL - a grant received to be used to contribute towards the charity’s vet bills.

Carole Mullins - a grant received to be used to contribute towards the dog behaviour facility.

Cat Iso extension from regional board- a grant received to be used to contribute towards the cost of the cat isolation extension.

Cat isolation donation- a donation to be used towards the cost of the cat isolation extension.

18. RELATED PARTY TRANSACTIONS

During the year the Leeds and Wakefield branch made purchases from the RSPCA National Society of £10,359 (2019: £15,457). The Leeds and Wakefield branch made sales to the RSPCA National Society of £29,819 (2019: £14,891). During the year the Leds and Wakefield branch received grants totalling £38,862 (2019: £nil) from RSPCA Yorkshire Regional Board. At 31st December 2020 the net amount owed from RSPCA National Society was £2,375 (2019: £777 owed to RSPCA National Society).

19. POST BALANCE SHEET EVENTS - COVID-19

Measures to contain the spread of Covid-19 were reimposed in January 2021 in England. These measures include travel bans, quarantines, social distancing and closures of non-essential services. As a result, trading operations of the charity have been impacted with all of its retail shops closed for an indefinite amount of time. The charity has taken advantage of government assistance, with a number of staff furloughed and funding from government grants being acquired the mitigate the disruption to operations.

The charity has determined that this is a non-adjusting subsequent event. Accordingly, the financial position and results of operations as of and for the year ended 31 December 2020 have not been adjusted to reflect their impact.

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RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020

2020 2019
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Door to door donations 25,174 26,736
Other donations 42,835 14,366
Legacies 371,382 75,919
Grants 225,865 -
665,256 117,021
Other trading activities
Fundraising events 52,122 52,208
Shop income 161,911 321,370
Rental income 7,675 8,369
Pet grooming 5,719 -
227,427 381,947
Investment income
Dividends from UK listed investments 10,518 19,661
Interest receivable 1,456 3,103
11,974 22,764
Charitable activities
Animal centre adoption 13,605 30,103
Pet insurance commission 1,756 1,431
Case animals 28,088 14,822
Grants - 743
Use of animal centre 8,298 10,547
51,747 57,646
Other income
Insurance claims 1,326 7,328
Total incoming resources 957,730 586,706
EXPENDITURE
Raising donations and legacies
Fundraising costs 43,750 48,328
Other trading activities
Purchases 4,291 4,029
Carried forward 4,291 4,029

This page does not form part of the statutory financial statements

Page 40

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020

2020 2019
£ £
Other trading activities
Brought forward 4,291 4,029
Wages 183,880 160,972
Social security 11,764 9,531
Pensions 2,758 2,281
Property leases 96,194 94,283
Rates and water 3,864 9,361
Insurance, light and heat 11,398 12,800
Telephone, postage, stationery and sundries 54,763 45,003
Legal fees 495 1,984
Motor and travelling 3,618 6,711
Staff training 419 722
373,444 347,677
Investment management costs
Portfolio management 3,222 3,356
Charitable activities
Wages 173,839 168,487
Social security 4,528 8,328
Pensions 2,324 2,439
Purchases 904 5,309
Insurance, light and heat 7,208 7,133
Rates and water 1,450 2,993
Telephone, cleaning etc 12,382 10,885
Re-homing and welfare costs (including boarding and
kennel fees) 28,725 35,149
Sundries 16,650 17,565
Legal fees 380 -
Depreciation of tangible fixed assets 43,136 51,258
Loss/ (profit) on sale of tangible fixed assets 101 -
291,627 309,546
Support costs
Other
Wages 69,343 64,091
Social security 6,612 5,515
Pensions 1,612 1,357
Rates and water 572 1,156
Insurance, light and heat 6,554 6,340
Telephone, cleaning etc 7,434 6,629
Sundries 8,134 7,632
Legal fees 1,775 1,560
Depreciation of tangible fixed assets 24,714 24,714
126,750 118,994

This page does not form part of the statutory financial statements

Page 41

RSPCA LEEDS, WAKEFIELD AND DISTRICT BRANCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020

2020 2019
£ £
Other
Governance costs
Auditors' remuneration 4,153 3,545
Total resources expended 842,946 831,446
Net income/(expenditure) before gains and losses 114,784 (244,740)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments (55,498) 6,581
Unrealised gains/ (losses) on fixed asset investments 24,990 44,567
Net income/(expenditure) 84,276 (193,592)

This page does not form part of the statutory financial statements

Page 42