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2022-12-31-accounts

Royal Society for the Prevention of Cruelty to Animals

Liverpool Branch

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS FOR 2022

Registered Charity Number 232254

ROYAL SOCIETY FOR THE PREVENTION OF

CRUELTY TO ANIMALS LIVERPOOL BRANCH

Year ended 31st December 2022

PATRONS:

Sir James Sharples, Q.P.M.

PRESIDENT:

The Lord Mayor of Liverpool

VICE-PRESIDENTS:

The Mayor of the Metropolitan Borough of Knowsley The Mayor of the Metropolitan Borough of Sefton

A LITTLE HISTORY

“The Liverpool Society For Preventing Wanton Cruelty To Brute Animals” was formed by a group of people who got together in the Crown & Anchor Coffee House in Bold Street Liverpool at 7pm on the 25th October 1809. Thus came into being the first animal welfare society in the world. 1809 was the jubilee year of H.M. George III and 25th October was jubilee day. England was at war with France and Napoleon had banned trade between the conquered continental countries and England.

Reports of the Society’s work appeared regularly in “Billinges Liverpool Advertiser and Marine Intelligence”. These reports were ill received by certain hauliers and carters who could see that their sick and infirm animals might be prevented from working. This resulted in members of the Society being waylaid after their meetings and in consequence meetings had to be held in secret.

In succession, RSPCA LIVERPOOL BRANCH was established in 1841.

1

Royal Society for the Prevention of Cruelty to Animals Liverpool Branch

INDEX

2

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS LIVERPOOL BRANCH

Year ended 31st December 2022

TRUSTEES’ REPORT

Registered Charity No. 232254

Principal Office:

2[nd] Floor, Unity Building, 20 Chapel Street, Liverpool L3 9AG Phone: 0151 705 9090

The Governing Documents and Constitution :

RSPCA Branch Model Rules revised September 2006 and the Charity Commission Scheme 30th April 1971. The Charity is constituted as an unincorporated association.

BRANCH COMMITTEE

Officers:

Chairman: Mrs F. LYE Hon. Treasurer: Mrs E BAXTER Hon. Secretary: Mrs C. MALTON

Members:

Ms G. LYE Ms L. FARRAR Mrs I. GARNIER Ms N. McQUAID

Appointment of Trustees:

Trustees are elected from Branch members at every Annual General Meeting to carry on the work for the ensuing year. The members of the Committee shall consist of no less than five or more than fourteen elected members. The elected Committee can co-opt not more than three persons who shall be members of the Branch Committee until the next Annual General Meeting and who are eligible to be appointed as officers of the Branch.

Bankers:

HSBC BANK plc 99-101 Lord Street, Liverpool L2 6PG

3

Reporting Accountants:

MOORE (NW) LLP 110-114 Duke Street, Liverpool L1 5AG (0151 703 1080)

Investment Managers:

RATHBONE INVESTMENT MANAGEMENT LTD Port of Liverpool Building, Pier Head, Liverpool L3 1NW (0151 236 6666)

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TRUSTEES ANNUAL REPORT

Year ended 31[st] December 2022

The Trustees present their report and financial statements of the charity for the year ended 31[st] December 2022.

LEGAL STATUS

The charity is constituted as an unincorporated association, its registered charity number being 232254. The principal office is now at 2[nd] Floor, Unity Building, 20 Chapel Street, Liverpool, L3 9AG.

Trustees are elected from Branch members at every Annual General Meeting to carry on the work for the ensuing year. The members of the Committee shall consist of no less than seven or more than fourteen elected members. The elected Committee can co-opt not more than three persons who shall be members of the Branch Committee until the next Annual General Meeting and who are eligible to be appointed as officers of the Branch. All Trustees are briefed on their responsibilities as Trustees prior to their acceptance of the role.

The Branch currently has 7 Trustees.

The RSPCA Liverpool Branch is a separate Charity (No. 232254) from the National Society but is subject to and operates under the Rules for the National Society and the Rules for Branches as updated in 2006.

OBJECTIVES, FUNCTIONS AND PUBLIC BENEFIT STATEMENT

The object of the charity is to prevent cruelty and to promote kindness to animals within the Liverpool and Merseyside area as defined by the Society.

The Trustees have reviewed the outcomes and achievements of our objectives and activities for the year to ensure they remain focused on our charitable aims and continue to deliver benefits to the public. We have complied with the duty under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

ORGANISATION

The Branch operates as an autonomous Branch of the RSPCA subject to its rules for Branches. The Branch is governed by a committee elected at the AGM who are Trustees of the Branch. The Committee is responsible for the management, financial affairs and animal welfare activities conducted by the Branch.

The Committee meets 6 times a year to take significant policy or financial decisions on behalf of the Branch.

PARTNERSHIPS

The Branch operates a Welfare Voucher Scheme in partnership with Cats Protection and Care for the Paw to support their outreach work in deprived parts of Liverpool. The Branch also works closely with the Society’s Inspectorate providing financial support for animal welfare and neutering. The Branch supports the National Pet Food Partnership and supplies food on a monthly basis to two Food Bank distribution points (St. Andrews Community Centre and

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RSPCA Wirral Branch). This scheme will be extended in 2023 to other areas of need (Anfield and Bootle). The Branch supports other local Animal Charities and RSPCA Branches by accepting, for consideration, Grant Applications and funding projects, where appropriate, to further the Branch aims and objectives.

THE SALE OF THE LIVERPOOL ANIMAL CENTRE, HALEWOOD

On 8[th] April 2021 the Sale of land at Liverpool Animal Centre, Higher Road, Halewood Liverpool L26 9TX to Miller Homes Limited was completed. The sale proceeds amounted to £5,000,000 of which £3,750,000 was received on completion and £1,250,000 was deferred for one year. The balance of sale proceeds was received in April 2022.

FINANCIAL REVIEW

Total income for 2022 fell from £4,078,010 in 2021 to £162,547. This can largely be accounted for by the sale of land as described above and an increase in investment income from £3,152 in 2021 to £53,584 in 2022.

Expenditure decreased to £91,430 compared with £582,144 in 2021 which was largely due to the settlement of the pension scheme deficit amounting to £474,076 in previous period.

RELATED PARTY TRANSACTIONS

There were no related party transactions in 2022 and no Trustee received any remuneration or expenses.

RISK ANALYSIS

In previous years the trustees had identified several factors which would pose a risk to the Branch. With the decision taken to close the centre and cease operating in 2019 the main risk was for insufficient trustees to be recruited to continue the Branch work. The other risk identified previously was the loss of legacy income which had continued at a very low level compared with previous years. The trustees were satisfied that there were sufficiently robust procedures in place together with the employment of suitably qualified and experienced staff to minimise the risk error or fraud.

RESERVES POLICY

In view of the current financial position, the Branch is not in a position to formulate a reserves policy. Free reserves stood at £748,432 at the year-end.

INVESTMENT POLICY

Following the sale of the Branch’s land at Halewood, substantial funds were available for Investment. The Trustees met with our portfolio management consultants and a strategy was discussed and agreed.

The Branch portfolio is managed by Rathbones Investment Management on a discretionary basis. The portfolio value at 31[st] December 2022 was £3,297,514, which includes £1,015,145 cash on deposit and at 31[st] December 2021 was £2,796,965.

LEGACY DONATIONS

During the year an interim legacy donation was received on 15/12/22. Subsequent to the yearend this estate was settled with £86,275.49 being divided between two beneficiaries, RSPCA and RNLI, and a balance of £5,137.75 being received. The trustees have received notice that an invoice from Sefton Council of £23,976.32 for the costs of the donator’s care had not been included in the estate’s accounts and it has been suggested that the beneficiaries of the estate

6

will each have to pay 50% of this invoice being £11,988.16. This matter is currently unresolved, and the trustees have made the decision to not make any provision for these costs in the year.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Charities Act 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 at the end of the year and of the surplus or deficiency for the year then ended. In preparing these financial statements, the Trustees are required to select suitable accounting policies, as described on pages 11 to 22 and then apply them on a consistent basis, making judgements and estimates that are prudent and reasonable. The Trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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 Trustees 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.

GOING CONCERN

These financial statements have been prepared on the going concern basis.

Approved by the Committee on 16/10/2023

Mrs F. Lye

Mrs E. Baxter

TRUSTEES

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

YEAR ENDED 31 DECEMBER 2022

I report on the accounts of the Royal Society for the Prevention of Cruelty to Animals, Liverpool Branch for the year ended 31 December 2022, which are set out on pages 9 to 17.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met

No matters have come to my attention in connection with my examination to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Keith Miller

Chartered Accountant

Moore (NW) LLP 110-114 Duke Street Liverpool

L1 5AG

23/10/2023

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2022

Note
INCOME AND ENDOWMENTS
Donations
2
Legacies
3
Other Trading Activities
Sales, Events and Promotions
Income from Investments
Investment income
4
Other Income
Sale of land and buildings
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE
Raising Funds
Investment Management Costs
Charitable Activities
5
Governance Costs
6
TOTAL EXPENDITURE
7
NET INCOME/(EXPENDITURE)
OTHER RECOGNISED GAINS
AND LOSSES
Realised gain/loss on investments
Unrealised gain/loss on investments
TOTAL RECOGNISED GAINS
AND LOSSES
Net movement in funds relating to
the year
Reconciliation of Funds
Total Funds brought forward
Total Funds carried forward		 Unrestricted
Funds
Restricted
Funds 2022
Total Funds
2022
Total Funds
2021
2022
£
£
£
£
28,289
-
28,289
30,272
80,674
-
80,674
19,693
108,963
-
108,963
49,965
-
-
-
2,438
-
-
-
2,438
20,507
33,077
53,584
3,152
20,507
33,077
53,584
3,152
-
-
-
4,022,455
-
-
-
4,022,455
129,470
33,077
162,547
4,078,010
7,144
11,524
18,668
5,517
27,037
19,482
46,519
553,750
26,243
-
26,243
22,877
60,424
31,006
91,430
582,144
69,046
2,071
71,117
3,495,866
(14,834)
(23,927)
(38,761)
(552)
(64,333)
(103,770)
(168,103)
25,711
(79,167)
(127,697)
(206,864)
25,159
(10,121)
(125,626)
(135,747)
3,521,025
758,553
2,822,646
3,581,199
60,174
748,432
2,697,020
3,445,452
3,581,199

The notes on pages 11 to 17 form part of these accounts

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

BALANCE SHEET

31 DECEMBER 2022

Note
£
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
12
Cash at bank
CREDITORS: Amounts falling
due within one year
13
NET CURRENT
ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
PROVISION FOR LIABILITIES
Pension Deficit14
NET ASSETS
FUNDS
Unrestricted
15
Restricted
16
TOTAL FUNDS		 2022
£
£
1,953
3,297,514
3,299,467
2,172
166,436
168,608
(22,623)
145,985
3,445,452
-
3,445,452
748,432
2,697,020
3,445,452		 2021
£
2,442
2,796,965
2,799,407
1,252,863
149,735
1,402,598
(19,268)
1,383,330
4,182,737
(601,538)
3,581,199
758,553
2,822,646
3,581,199

These financial statements were approved and signed by the members of the committee on 16/10/2023

Mrs F. Lye

Mrs E. Baxter

The notes on pages 11 to 17 form part of these accounts

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Legal Status

The charity is a public benefit entity and is constituted as an unincorporated association, its registered charity number being 232254.

Basis of accounting

The financial statements have been prepared in accordance with the Financial Reporting Standard 102, as issued by the Financial Reporting Council (effective 1 January 2015) and the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)”. They are prepared on the historical cost basis, except for investments which have been included at fair value.

Before 2015 the financial statements were prepared in accordance with UK GAAP applicable prior to the adoption of FRS102, as issued by the Financial Reporting Council and the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” and referred to as “previous UK GAAP”. The financial effects of the transition to FRS102 are set out in note 18 below.

Going Concern

These financial statements have been prepared on the going concern basis.

Legacies, donations, voluntary income and fees charged.

Cash donations, gifts and fees charged are included in full in the Statement of Financial Activities as they become receivable. Fees charged are monies invoiced to the RSPCA National Society for the accommodation of cruelty case dogs. Legacies are included in the Statement of Financial Activities when the monetary value of the Legacy is known and confirmation has been received that the legacy is due.

Grants

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Investments

Fixed asset investments are disclosed in the financial statements at market value. Unrealised gains or losses on investments are provided for in the Statement of Financial Activities.

Share Disposals

Realised gains/losses on the sale of shares are calculated by deducting the cost of investments from the net proceeds received. Unrealised gains/losses represent the movement during the year of the market value of listed investments, net of any unrealised gains/losses becoming realised on disposal of investments during the year.

Taxation

The society is a registered charity and is therefore not liable to corporation tax.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Buildings - 2% on cost. Fixtures and Fittings - 20% reducing balance method. Motor Vehicles - 25% reducing balance method.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

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.

Governance activity

Staff costs and accommodation costs of the branch office, 2[nd] Floor, Unity Building, 20 Chapel Street, Liverpool L3 9AG), are apportioned between Governance costs and Charitable activity costs in the ratio of 2:3. This is based on the level of staff time attributable to the two functions. Due to the nature of the management function it is not possible to split costs between Governance Activity and Support Costs.

Financial Instruments

The RSPCA Liverpool Branch has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the balance sheet when the Branch becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities are classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Branch’s contractual obligations expire or are discharged or cancelled.

12

ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

2. DONATIONS

DONATIONS
Total Funds
Total Funds
2022 2021
£ £
Subscriptions, donations and collections 28,289 30,272
============= =============
LEGACIES
Total Funds
Total Funds
2022 2021
£ £
Legacies 80,674 19,693
=============== ===============
INVESTMENT INCOME
Value Value Income Income
2022 2021 2022 2021
£ £ £ £
UK quoted and foreign investments 2,282,369 1,490,401 39,813 2,886
UK portfolio cash 1,015,145 1,306,564 13,771 266
----------------------------------------- -------------------------------- -------------------------------- --------------------------------
3,297,514 2,796,965 53,584 3,152
= ================ =============== = ============== ===============
CHARITABLE ACTIVITIES
Total Funds Total Funds
2022 2021
£ £
Unrestricted Funds
Wages - 10,099
Pension 9 474,076
Rent 8,725 10,275
Rates and insurance 1,164 9,497
Light and heat - 524
Printing, stationery and telephone 2,505 2,330
Vets and drugs 1,125 95
Neutering - 293
Legal & Professional fees 12,468 22,253
Sundry 463 3,183
Subscriptions 89 -
Depreciation – Net 489 610
Loan Interest - 428
------------------------------------- -------------------------------------
27,037 533,663
=============== ===============
Restricted Funds
Legal Expenses 19,482 20,087
=============== ===============
Total Funds 46,519 553,750
=============== ===============

3. LEGACIES

4. INVESTMENT INCOME

5. CHARITABLE ACTIVITIES

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

6. GOVERNANCE COSTS

6. GOVERNANCE COSTS
Total 2022 Total 2021
£ £
Salaries - 6,732
Rent 5,816 6,850
Printing, stationery and phone 1,670 1,555
Bookkeeping charges 13,734 -
Independent Examination Fee 3,720 3,720
Motor and travelling 79 16
Computer costs 1,126 3,782
Bank interest and charges 98 222
---------------------------- ----------------------------
26,243 22,877
============= =============
7. TOTAL RESOURCES EXPENDED
Depreciation Other costs Total 2022 Total 2021
£ £ £ £
Cost of generating funds - 18,668 18,668 5,517
Charitable activity 489
46,030		 46,519 553,750
Governance activity - 26,243 26,243 22,877
-------------------------------- -------------------------------------- -------------------------------------- --------------------------------------
489
90,941		 91,430 582,144
=============
===============		 =============== ===============
The aggregate payroll costs were:
2022 2021
£ £
Wages and salaries - 16,831
------------------------------------- -------------------------------------
- 16,831
=============== ===============
Particulars of employees:
The average number of staff employed by the charity during the financial year amounted to:
2022 2021
No. No.
Branch 0 2
-------------- --------------
0 2
====== ======
No trustee received any remuneration or expenses.
2022 2021
£ £
Other costs:
Premises 15,706 27,147
Legal and professional 68,072 51,576
Pension 9 474,076
Other 7,154 11,904
-------------------------------- --------------------------------
90,941 564,703
=============== ===============
8. NET INCOMING/(OUTGOING) RESOURCES
Net movement in funds is stated after charging/(crediting):
2022 2021
£ £
Depreciation 488 610
Independent Examiners remuneration
- as independent examiner 3,720 3,720
============= =============

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

9. TANGIBLE FIXED ASSETS
Equipment Total
£ £
COST
At 1 January 2022 33,691 33,691
Additions - -
Disposals - -
------------------------------------ ---------------------------------------------
At 31 December 2022 33,691 33,691
============== ==================
DEPRECIATION
At 1 January 2022 31,249 31,249
Charge for the year 489 489
On disposals - -
---------------------------- --------------------------------
At 31 December 2022 31,738 31,738
============= ===============
NET BOOK VALUE
At 31 December 2022 1,953 1,953
============= ===============
At 31 December 2021 2,442 2,442
============= ===============

All of the tangible fixed assets included above are for use by the charity.

10. INVESTMENTS Movement in market value

INVESTMENTS
Movement in market value
2022 2021
£ £
Market value at 1 January 2022 2,796,965 50,449
Acquisitions at cost 1,141,846 1,492,561
Movement of cash held (291,419) 1,256,116
Disposals at opening book value (181,775) (27,872)
Unrealised gain/loss on investments (168,103) 25,711
---------------------------------------- ----------------------------------------
Market value at 31 December 2022 3,297,514 2,796,965
================== ==================
Historical cost at 31 December 2022 3,439,906 2,771,254
=============== ===============
Analysis of investments at 31 December 2022 between funds
Total 2022 Total 2021
£ £
Listed investments
UK quoted shares 2,282,369 1,490,401
Other
UK cash held as part of portfolio 1,015,145 1,306,564
------------------------------------------- -------------------------------------------
3,297,514 2,796,965
================== ==================
Quoted Investments Restricted Funds Unrestricted Funds Total Funds
£ £ £
Ordinary shares 1,866,738 415,631 2,282,369
Cash 830,282 184,863 1,015,145
------------------------------------------------ ------------------------------------------------ ------------------------------------------------
2,697,020 600,494 3,297,514
================== ================== =================

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

11. RELATED PARTY TRANSACTIONS

There were no transactions with the trustees during the year under review.

12. DEBTORS

DEBTORS
2022 2021
£ £
Other debtors - 1,250,092
Prepayments and accrued income 2,172 2,771
---------------------------------- --------------------------------------
2,172 1,252,863
============= =============
CREDITORS: Amounts falling due within one year
2022 2021
£ £
Trade creditors 36 7,440
Accruals and deferred income 22,587 11,828
------------------------------------------------ -----------------------------------------------
22,623 19,268
================== =================

13. CREDITORS: Amounts falling due within one year

14. PENSIONS

The RSPCA, Liverpool Branch participated in the Scottish Voluntary Sector Pension Scheme (the Scheme). The Scheme is a multi-employer defined benefit (DB) pension scheme. The Scheme is funded and was contracted out of the state scheme until 31[st] March 2010, when the scheme was closed to future accrual.

The Scheme operated a single benefit structure, final salary with a 1/60[th] accrual rate until 30 September 2007. From October 2007 there were two benefit structures available, these were final salary with a 1/60[th] accrual rate and final salary with a 1/80[th] accrual rate, until the date of the Scheme closure on 31[st] March 2010.

The scheme closed to future accrual on 31[st] March 2010. There is currently no intention to windup the Scottish Voluntary Sector Pension Scheme and it continues in paid–up form.

The RSPCA, Liverpool Branch withdrew from the Scheme and paid a settlement of £608,978 in January 2022 to cover its Section 75 debt on withdrawal.

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ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, LIVERPOOL BRANCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

15. ANALYSIS OF NET ASSETS IN UNRESTRICTED FUNDS

Investments Tangible fixed assets Other net assets Total
£ £ £ £
Unrestricted funds 600,494 1,953 145,985 748,432
=================== =================== =================== ===============

16. ANALYSIS OF NET ASSETS IN RESTRICTED FUNDS

Investments Tangible fixed assets Other net assets Total
£ £ £ £
Restricted funds 2,697,020 - - 2,697,020
=================== =============== =================== ===================

This Restricted Fund represents grants made by RSPCA Headquarters in Horsham and amounted from Support Adoption for Pets, towards the re-development of the facilities at Halewood Animal Centre, less amounts subsequently written off following the sale of the Halewood Animal Centre a proportion of the proceeds was allocated to the Restricted Fund.

17. FINANCIAL INSTRUMENTS

2022 2021
£ £
Carrying amount of financial assets
Debt instruments measured at amortised cost - 1,250,092
Equity instruments measured at cost less impairment 3,297,514 2,796,965
-------------------------------------------- --------------------------------------------
Carrying amount of financial liabilities
Measured at amortised cost 36 7,440
-------------------------------------------- --------------------------------------------

17