Registered number- 00816674 Charity number- 237696 The Raystede Centre for Animal Welfare Limited (A Company Limited by Guarantee) Trustees, Report and Financial Statements For the Year Ended 31 March 2024 The Raystede Centre for Animal Wellare Limited IA Cornpany Limited by Guarantee) Contents Page Reference and Administrative Details of the Charity. its Trustèès and Advisers Trustees. Report 3-15 Independent Auditors. Report on the Financial Statèments 16-19 Consolidated Statement of Financial Activities 20 Consolidated Balance Sheet 21 Charity Balance Sheet Consolidated Statement of Cash Flows 23 Notss to the Flnancial Statements 24-46 The Raystede Centre for Animal Welfare Limited IA Cornpany Limited by Guarantee) Rèference and Administrative Details of the Charity. its Trustees and Advisers For the Year Ended 31 March 2024 Trustees D H Jones. Chair J S Amies. Vice Chair (resigned 20 February 2024) H N Tracey. Treasurer S Derrick C A Brown lappoinled 29 June 20231 M Macphail lappointed 29 June 20231 IHAKerr Dr S A Leggett S L Wright lappoinled 7 December 20231 H Paxton Company registered number 00816874 Charity registered numbèr 237696 Registered office Raystede Ringmer Lewes East Sussex BN85AJ Chief executive officer S Rsrnrth Honorary posttions Palron4n-Chief Andrew Blackman, Lord-Lieulenant of East Sussex Honorary President Morgan Vvilliams Honorary Vi¢e-President Jonathan Vine-Hall Independent auditors Kreslon Reeves LLP Chartered Accounlanls Statutory Auditor 37 St Margaret's Street Cante¢Dury Kent CT12TU Page 1 The Raystede Centre fof Animal Welfare Limited IA Cornpany Limited by Guarantee) Reference and Administrative Details of the Charity, its Trustees and Advisers Icontinuedl Forthe Year Ended 31 March 2024 Bankers National Westminster Bank Pic 11 High Street Lewes East Sussex BN7 2LH Solicitors Adams & Remers LLP Trinity House School Hill Lewes Sussex BN7 2NM Knights plc 3 Neptune Square Edward Street Quarter Brighton BN2 OAT Investment manager Charles Stanley & Co. Limited 55 Bishopsgate London EC2N 3AS Page 2 The Raystede Centre for Animal Welfare Limtted IA Company Limited by Guarantee} Tru5tèÈs' Report Forthe Year Ended 31 March 2024 The financial statements have been prepared in ￿cOrdanCe with the wiunting policies Set in notes lo the accounts and ¢omply with the Charity's goveming dcKumenl. the Companies Act 2006. the Charities Act 2011 and Accounting and Reporting by Charities". State￿ent of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financ¢al Reporting Standaid applicable in the UK and Republic of I￿land (effective 1 January 20191. Ourvision, Our Mission and Our Values Raystede's Vision A world where animals are Understo￿ and cared for with respect, compassK)n and kindness. Ray5tedè's Mission We give animals new beginnings and better Iwes through ￿homing. rehabilitation and sanctuary. and gnie people the support and knowledge they need to treal anima15 with care and respect. What is Raystede? Rayslede is your local animal welfare charity. based in central Sussex and working throughout the region_ Our focus is a￿ayS on each animal's needs. first and foremost We aspire to the highest animal welfare standards and offer spe¢ialisl care and rehoming for a wide range of pets and animals. We also rescue animals al risk or support people who are no longer able to ¢are for their animals. Sometimes rt is better for animals to stay with Raystede in our sanctuary. Not>ody else locally cares for the same range of animals and offers the same scope of support. Our site is open to Raystede supporters and offers a Chan￿ to share the natural surroundings the animals we ¢are for call home and support our work. It is not a zoo. a fami. or a fun park-, rt is a tranquil place many animals call horne. Raystede is a place where adutts and thildren alike ¢an leam about anirnal welfare. It underpins OLJr education programmes on site and in the community because we are passionate about the animals al Raystede and about effecting long4asling change in how we all care and respect animals. Raystede's Values Cann &¢om assionale.. we take good care of animaL8 and help other people lo tske care of animals too. with empathy and without judgement. Committed". we are cornmitted to giving animals a better lrfe and helping everyone respect and care for animals. Professional.. we aspire lo the highest standards of professionalism in every aspe¢t of our work and encourage the same in others. Passionate". we are passionate about our work, our team. our community.. about sharing our knowledge", in our belief that all animals should be free to enjoy the best possible qualrty of life while bringing joy and fun lo our lives. Ins better life. we aim to inspire oursefves and others the woth we do to give animals new beginnings and a Raystède's Desired Long-Term Impact Animals in Sussex have a good life and people are supported to achieve that. Structure. Governance and Management These consolidated accounts include the artivrties of Raystede Cenlre for Animal Welfare Limited. Raystede Animal Services Limited and Raystede Centre Conslrudion Limited. Raystede Centre for Animal Welfare Limited was incorporated in 1964 and operates Raystede's charitable aclivilies. 1115 a company INO. 008166741 limrted by guarantee to £10 per member in addition lo a regisleied Charity (No. 2376961 govemed by Memorandum and Articles of Assocralion. Rayslede Animal Services Limited INO. 03182365) was incorporated in 1996 to operate Ray51ede's commercial trading aclivilies. The principal adiwties of the company are the operation of shops and cafe facilities, and provision of ¢remation services for animals_ Page 3 The Raystede Centre for Animal Welfare Limited IA Cornpany Limited by Guarantee) Trustees. Report Icontinued} Forthe Year Ended 31 March 2024 Ra￿￿tede Centre Conslrurtion Limited INO. 048389191 was incorporated in 2003 and operates as a general cornmercial company to assist the We￿are and Serwces adivities and faalrtale buikling project5 as required. The cornpany is currently domant. The Council of Management lalso referred to as Board of Trusleesl has a minimum of 5 and a maximum of 10 Oirectors. The Articles of Asso¢iation were revised in 2019 to ¢hange the temi of service of Iru51ee5 to a Tnaximum of 9 years made up of three tems of three years subjecl lo some specific exceptions. Key Managèmènt Personnel The Council of Management is responsible for the management and financial affairs of the Charitable Company. The Trustee5 (who are also the Directors, of Raystede Centre for Animal Welfare Limited lor the purpose ot cornpany lawl ale the Council of Management. The Board is supported by a full lirne Chief Executive and a small management team. to whom day-l(>day operational management decisions are delegated_ Ovr staff and volunteers are essential for Ihe delivery of a highquatty service both for animals and people and we ¢urrenlly131 March 20241 have more Ihan 241 volunteers who regulady help Rayslede both on and off sile. Al the end of March 2f124, we had a total of 140 employees {90 FfEI of which 31 were on casual contracts. Of our contracted staff, there are 60 people who work full-time hours. Our organisalional Structu￿ and management slwcture is as folkMS'. Ai%imalWelfare iirnit The Board of Trustees meet in full bi-monthly with other adthoc meetings for strategy and budget matters. Page 4 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl Forthe Yèar Ended 31 March 2024 Recruitment and Selection of Tw$tees Procedure Should a vacancy on the Board of Trustees arise. the Board wll advethse the position and also consider individuals who may have been identtfied as potenlial candbyates wa contacts. Potential candidates are sent an applicab.on pack wrth a skill-set audit to detemiine how the candidate's skills cornplement the existing Board's current and future needs. Candidates sele¢ted will be gNen a tour of the srte by the Chief Executive and then interviewed by a panel of al least iwo Trustees including the Chaim)an to ensure best candidate selection. When sele¢ted, a candidate will then be proposed lo the Boaid for ¢(￿p￿n9 or appointrnent. Raystede values dwersity as an important fa¢tor for accounlabilty and public confidence and we will seek lo maintain diversity across our Council of Management. We undertake assessments of the existing Trustees to identsfy what skills are required by the Council of Managemènt to perfom effectivety. and whether there are any gaps. We use Trustee 'iob descriptions" or similar guidance. lo provide prospective Trustees wrth a balanced account of what the role of Tnjstee entails, including their duties and responsibilities as a Trustee. We ensure that all new Trustees are aware of the legal rules on eligibilty to serve as a Trustee, bearing in mind that it is a criminal offence lo se￿e as a Trustee rf disqualrfEd from doing so. We follow Charity Commission published guidance on our obligations to check the eligibility of new Tiuslees and on specific recommended checks we need to make. We have arrangements in place for idenlrfyng and managing conflicts of interest and ensure that new Trustees are aware of these arrangements. Induction and Trnining of Trustees Procedure Once a potential Trustee is ctrOPt￿ or appointed they meet with the Chief Executive who will provide an overview of the work of Raystede. All Trustees are invited lo meet with key members of staff and lo discuss all aspects of their worf( during a tour of Ihe ¢entre. Regular visrfcs and communication are a￿vayS encouraged lo ensure Trustees can develop their knowledge and understanding of our work. An induction pack for potential Trustees containing a range of documents including the Charity's governing docurnent has been prepared. Also. all Trustees are piomded with relevant Charty Commission publications on the legal dutie5 and iesponsibilities of Charity Trustees and the Charty's Governance Framework. All Trustees are invited to undertake regular Iraw)ing and development ￿lated lo their role. Over the past year. Raystede Trustees have altended the following Iraining." Charity Trustee inductionlrefresher (run by NCVOI,. a nalDnal conference for Charity Trustees_ Cuiienlly the Board of Trustees are seeking to recturf( Trustees experience in financial management, marketing or business development_ Page 5 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl Forthe YÈar Ended 31 March 2024 Governance In eady 2018 Rayslede fomialty adopted a Governan￿ Framework lo cover all aspects of the Board's responsibilities. The Board of Trustees agreed in February 2018 to have a fomal review of the Charity's Articles of Association lo address recommendations made in the Chanty Governance Code issued in July 2017. In December 2018 at the Annual General Meeting the members Vot￿ to update and modernise the language used in the Objects of the Charty which was subsequenuy approved by the Charity Commission following a separale Extraordinary General Meeting on the 251h of April 2019 to agree minor modifi¢ations re¢ommènded by the Charity Commission. In addition. Trustees. length ol tenure was capped at 9 years. servi¢e13 x 3 years). A finance CoMm￿ee has been established which meets al least 4 times ead) year. An Income Generation Committee is being established to meet >4 times a year Public Benefit The Board Of Trustees has due regard of the Charrties Act 2011 and the Charity Commission guidance on public benefit. This is reflected in the review of the activities of the Charity contained in this report. STRATEGIC REPORT Objectives and Activitles Raystede was formally established in 1952. It was fomied wlh the Charitable objects to prevent and relieve cruelty lo animals and lo protect them from unne¢essary suffering and to pr(xnote and encourage the love of anirnals and of their proper care and treatment through examp￿ and education. Our charitable aclivrties to delNer these objects have ah¥ays broadly fallen into three categories." 1. Rescuing and rehoming animals. 2. Providing sanctuary and lrfetime homes for animals in need. 3. Offering education and leaming activities to promote animal welfare. Raystede gives animals new beginnings and a better lrfe through rehoming. rehabililalion and sanctuary. People are given the support and knowledge they n*d to treat animals wrth care and respect. We want lo ensure that animals in Sussex have a good life. and people a￿ supported to achieve that. The general approach of the Charity is Ihat domestic pet animals a￿ taken into care al Rayslede when they can no longer be Cared for by their owners or they are deemed to be abandolled or stray. Once evaluated by trained staff members. they are placed into hornes as pet5 Ma a process of adoption. or in the ¢ase of our equines by loaning which leads lo adoption. Some animals cannot be rehomed or take a lon9 lime lo rehome so. rf able lo thrive in our care. they are offered a sanctuary home at Rayslede foi as long as rt is in the be51 interests of Iheir welfare. At Raystede. sanctuary applies particulady to tortoise. terrapins. and exotic birds from the parrot famity. The need to keep abreasl of current animal behavioural research and applied behavioural techniques has become very Important and Raystede has a training plan in pla￿ to ensure standards are both maintained and smproved. Enrichment activities have been embedded into daily welfare roLrtines lo ensure that the h1ghesl standards of welfare are practised. Page 6 The Raystede Centre for Anirnal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl Forthe Year Ended 31 March 2024 Our edu¢alion and learning programme which covers key animal welfrare topics. operates broadly in five areas_. In a fomial context wrth educational institutions. either on site or Ihrough outreach or career-based learning. Through our well-eslablished Gommunrty education programme. which seeks to ta¢kle key welfare issues at the centre of local communities where help is needed most. Through our thriving on-site visitor education programme of talks. tours. events and experiences. These onlinue to evolve and be refined by activity and audien￿. We usè our website and other digital platfomis to influence change and promote high welfare for pets. With potential adopters through highly tsrgeled events by species. We have a special and much4oved srte in East Sussex and we use the Raystede site to further our charitable purposes. to engage with the local community and to maximise OUT income. We have traditionally operated cornmeicial businesses such as a café and shops on the site lo raise money from general visitors for the Charity. During 2023124, we continued to open new chanty retail shops and now have 3 off-site retail units in Lewes, Uckfield and Hailsham. Futher shops will open over the next 1-2 years. Rayslede also runs a high￿ regarded and muclploved pet crematorium business known as Peaceways on land earby lo the main sile. In 2023124, Peaceways cared for over 1.000 pets and their bereaved pel-owners Raystede has many wonderful and loyal supporter5 who give generousty to the Chanty- Legacy income has Iradrtionally been a key of income and this remains true today. We work hard to retain and develop our IDyal supporters and al the same lime explore opportunilies for new hjndraising activty to support our work. To this end we invest in fundraising. working within an agreed strategy to help create new income streams. We maintain elhical standards in our fundraising practices and have developed a code of conduct for all areas of engagement with supporters and donors ensuring that we are both transparent and aligned lo current best practice within the regulatory framework. Raystede's donor charter is as foll￿". We promise never lo give, swap. rent or OtheTh￿se pass on personal detsils lo other third-party organisations. Vve a￿ayS welcome communication with supporters and promise to respond lo all queries in a timely manner. Vve always ad wrth integrity. We guarantee that all donations we re￿Ne will be spent in a manner Ihal is deemed lo be for the maximum benefit of the animals in our care. We will a￿ayS endeavour lo act in a transparent and open fashion with our donors. We constantty work to ensure our administration is as efficient and ¢ost*ffective as possible. We will a￿ayS acl in accordance wf(h our mission lo give animals a better life through rehoming. rehabililalion and san¢luary and give people the support and knowledge they need to treat animals with care arid respert. Where third parties are employed as fundraising partners they are a￿ayS contradual in order to ensuie that they are complianl with all regulations. Where possible. fundraising is led by our staff. Third paty companies specialising in the rental of data are not currently a part of our fundraising activity. The Charity has recepied 2 complaints regarding its fundraising actwities during the year. These were Investigated and resolved. Page 7 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report lcontinuedl Forthe Year Ended 31 Mar¢h 2024 Achièvements and Perforniance Animal welfare, animal care, rehomlng. san¢tuary and veterinary Three key factors continued to have a signtfi¢ant overall impacl on our perfomiance and operations in 2023124.. the lingeTing but severe long-term consequènces for animals of the COVID pandemic." Avian Influenza regu￿tions, the cost4)f-living cnsis including rising energy prices. These factors amounted lo a crisis in Ihe animal we￿are se¢lor generally and for Rayslede impacted animal intake. rehoming. operational costs. income generation, staff and volunteer recruilmenUretenlion_ Although thè Covid-19 pandemic had a feduce(l operational effect in 202312024. the ￿Sur( of increased animal acquisition during thè pandemics. particularfy of dogs. ¢onlinued to have an effect on our ability lo rehome animals. This effect was felt in conjunction with the ongoing impact of the cost of living crisis. We continued lo receive lar more requests for dogs to be surrendered inlo our care than we were able lo assist with due lo there being fewer homes available. and also thal the nature of the dogs we were asked lo assist Continued to include many wth serious behavioural pr¢)blems. Despite this. we were able to ￿hOme 40Wo more dog5 than the previous year. contrary to trends seen in other rehoming organisalions. With the reduced effect of avian irffluenza we were also able to assist more chickens in 23r24 cOMpa￿d to 22123 through continued collaborative work w(th the British Hen Welfare Trust. We also hosted additional commLJnity veterinary days during the last year which in particular saw us assisting approximately 44 /D more cats through our microchipping and neutering work. Cal microchipping was seen as a particularty important focus to ready owners lor the advent of compulsory cat microchipping in June 2024. Below is a chart showing animals which Gorne both in and out of Ray51ede in 23124 and the previous 3 years= 202012021 202112022 202212023 202312024 Animals Animals Out Anima15 Animals Out An¥maE5 In Animals 045t Animals In Anima15 Out Dogs 71 83 12 li 112 Cats 181 191 24 22 22 22 Small animals 173 193 31 29 27 265 255 23 SUB- TOTAL 425 457 57 57 57 Aviary Birds li 12 22 16 Fotsvl 92 94 17 15 85 Equines Wildlrfe 23 23 othet io 17 svB- TOTAL 131 142 28 21 12 105 TOTAL 556 599 97 85 67 67 PwJe 8 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl Forthe Year Ended 31 March 2024 Rehoming of small animals and cats remained similar lo 2022r2023 however this was again in the context of many other organisations struggling in these areas so the resurts feel positnie. The year also saw the beginning of a project lo in¢rease the efficiency of our rabbit rehoming. wrth the aim of increasing our rabbit rehoming Ihroughput.1115 expected that this project will become operational in 2024. We were thrilled to invest in and complete construction of our new Project Terrapin which 15 a facility designed lo provide sanctuary housing for unwanted terrapins that are otherwise frequently dumped in ponds and other water bodies. As well as providing sanctuary for terrapins. the project has an important educational focu5 to leach people not onty of the difficult needs of terrapins as pets but also other exotic species to discourage such cornplex animals from being obtained on a whim orwith lack of kno%￿age. 202312024 also saw muth work being done to reccxJnise areas where the weware of animals in our care can be improved, to ensure animals in our care have as many posrtive expersences as possible leading lo a positbve mental stale. This not only ensures animals Éft our care are as well supported as possible. but also allows such standards and Ihinking lo be showcased lo the publ+¢ that visit our srte. Regular review of our standards ensures we continualty evolve and improve as new infoMialion that supports the welfare of animals ¢omes to I￿ht. In addrtion lo anima15 rehomed. Raystede also assists a large group of animals that cannot be rehomed or may lake a long time lo rehome. If such animals are able to thrive in our care. they are offered a sanctuary home at Raystede for as long as rt is in the best interests of their welfare. Sanctuary applies particularfy to tortoise. terrapins. and exolic birds from the parrot family. To dernonstrate our ￿der impact. below is a representation of animals'in and out. of Rayslede combined with the total number of anirnals receiving significant assistance fiom the charity in 2023124. In 202312024 we assisted 1.655 animals which is a 100/0 rise compared to 2022r2023. The figures lor both years do not Include any Educalion outreach work and reflect On￿ the work of our animal care. rehoming and veterinary learns. Our definition ol animals assisted is= All animals for whom Raystede has rnade a tsngible benefft to their lives be that through rehoming, san¢tuary. veterinary treatment. assisting in Collaboratson with other organisalions. small animal bondings. preventing the surrender of the animal or olherwse improving their weware. These are interventions that we know have had a positive impact on the animal-s lrfe. Type of animal assisted Animals Assisted Animals Assasted 23124 130 340 411 881 106 312 368 786 Cats Small animals Sub.iotal Ai'iap4 birds Chicktsns..'cockerels Ducksilurkey eese Horse-, onie¥.'dgnke" Shee aoals 81 aca Tortoise.'terra 173 382 TO 151 489 SC. 35 40 22 38 sub.total 726 774 TOTALANIMALS ASSISTED 1.512 1.655 Page 9 The Raystede Centre for Animal Welfare Limited IA Cornpany Limited by Guarantee) Trustees. Report Icontinuedl For the Year Endèd 31 March 2024 Education, learning and prevention In 2023r24 we continued with a varied "post-cowd- Programme of educational a¢tTvity- Several elements of our adapted programme have been highty successful and as such have been further developed. We have moved away from hosting large school groups on site. opting instead to engage with this audience through outreach and career-based leaming. We now have a wellostablished programme of ti¢keted onsite events that continue to be offered at no charge lo attendees. In the last year. we have achseved the following through our Education pr(￿rarnme.. The creation of 45 education events in local communities which engageil wrth a total of 3,730 pel owners in regard to various aspects of pet welfare. The majorÉty of these interadions invofved advising on aspects of dog behaV￿ur and heatth. Through our Family Leaming Days at the Raystede site. we engaged 8,424 visilot5 in meaningful learning. 553 visitors attended a sile lour which communicates our key messages and purpose. Our formal ￿Ucation programme (working with schools. colleges and youth gioupsl engaged with 621 young people both on the sile and off-site. 36 of these were statemenled for SEMH (Social. Emotional and Mental Health). a group which remains a key target for pet welfare education. We have continued working with those people who have applied lo adopt Raystede dogs bul have not yel been successful in their adoption joumey. 139 potential adopters attended one of our specially designed events, which aim lo give imminent pet owners the information they need to make responsible ehoices around dog acquisrtion. We are seeking lo expand this programme lo encompass other key species. Digital resources designed for schools and families lo leam rerrrf)lety during the pandemic have Continued to be accessed. and we have further developed and produced new resources which are shared via social media platforms. We n¢iw have 8 interactive Care guides aC￿$S￿ble via our website which include care demonslralion films on key weware aclivty for the top 8 most rehomed species of animal at Rayslede. Going out into local Communities has been a new direction for Raystede and below is a table showing the types of contacts we have had in 2023124 with pet-owners on the street. in shopping centres and al chosen events." Type of engagement in the cotntnunity 2023r24 Nutnber of individua15 s oken to N1iciochi cheek adrfice behaviour 3d-￿ice safetv demo leuterin advico hl ad￿lce Vet advicelvet nurse ￿lSit¢ lo qtand Vacunatiori adi'ice Insurance advice Breed discussion Oo reactiviti Eidi'ice Feedin adiice Bondin iidilice P.3<=lede kisit inTormaÈion ie uired Surrendai.'ado fosterin ad'.:ice Qlhei I Ispecies} discuSoion Handina Oui >[lik￿r5 TOTAL individual interacuons 1i9 278 23 191 17 62 109 281 99 110 3.110 During the year. the Trustees continued to rewew and discuss a range of 51rategic issues in¢luding animal weffare. education. visitof operations. income generation and mathetsng. Page10 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuedl For thè Year Ended 31 March 2024 Since early 2021. we have been reviewing Rayslede s pay policy and approach lo staff reward in general - the results of this project weie first implemented in July 2022 and a new pay poli¢y was agreed. The pay policy was further progressed in April 2023 with another reorganisats.on of pay grade and points. This important project has enabled Raystede lo recruit and retain staff as well as to have a fair reward package_ In additlon, we have started lo focus on developing volunleering for Rayslede and we rThY have a gre*ly increased number of volunteers across the Charity. Visitor operations on-site during 2023124 were affe¢ted by a number of factors induding bad weather, very hol weather, Avian Flu restrictions and the consttuction gf Project Terrapin. Our Aviaries and Sanduaryllakes area were again closd to visitors for much of the year_ Visitor footfall162.000 visitors in 20231241 was up on the previous year and as budgeted. Vve did not run a Summer Fair Ilast one was in June 20221 because we were focusing on off-site commercial operations. 11 has been agreed that the visrtor operalw)n has 3 purposes which need to be carefully balanced education & learning." engaging wrth supporters and the local community, generating financial benefit for the Charity. The Charity's fundraising and legacy slrategy was further progressed in 2023r24 and achievements included another significant increase in the number of regular gniers. The fundraising plans partly depend on recruiting a team ol income stream specialists and staff iecruitment has ¢ontinued to be challenging over the past year. MO￿ than 1.200 Raystede Friends, Animal Sponsor5, community supporters and other donors attended 5pe¢ialty organised events on sile. Addrtionally. over 350 people came to Raystede for the day as part of corporate volunteering groups undertaking tasks on the main srte and at Pea¢eways. The strategy for commercial and trading a¢iniities was developed wlh the aim of expanding actNities away from the main Raystede site and other tradrtional commercial activities. Our new shop in Lewe5 15 very successful and also the 2023 sh¢)p openings in Uckfield and Hailsham. Online trading was expanded through eBay. A separate marketing function has been estsblished wthin Raystede and a Head of Marketing was recruited in 2021 who has undertaken research and produced a marketing & PR strategy lo support our key strategic and operational objeclives. The Marketing Team has Teally focussed on our digital marketing, resulting in growth in social media followers, increased reach and engagement, improvements to our website and an established e- marketing programme with an audience of around 23.550. The marketing team have also been using PR more proactively to raise awareness of our work. During 2023124, Raystede featured in more than 20 local radio inlerwews and Iwo TV lealures in December and January appealing for losler careis and rehomers. Wh￿ iesulied in 13 successful foster appli¢ations and the rehoming of 33 cats. the highest number of cats rehomed in any month since November 2019. We also welcomed BBC Radio Sussex lo R2yslede in October. broadcasting live for 4 hours and featuring a number of interviews about ourwork. This is all helping posrtion Rayslede as the 'eypert voKe for Iwal animal welfare. Financial Review Raystede is finan¢ed through. and dependent soiety on. the generosity of individuals to continue to deliver bts work in animal weKare and education. 11 receives no National Lottery or Government funding. The group incurred a def￿11 of £332k before investmenl10sses. compared to a deficit last year of £859k. Fundraising income increased overall by 22°k against last year. showing growth in regular giving of £94k resulting from our investment in fa¢e-t¢Ffa¢e donor recruitment. Despite the continuing cost-of-living Crisis. general donations increased by 60A against last year. as we moved rowards testing smaller and more urgent mobile and digital appeals. The Challenge Events market recovered over the last year however we are yet to maximise this market and as a result saw income fall £4k against last year. Income from Major donors and Trusts increased by 25°A lo £128k and corporate income was strengthened by an increased focus on networking and relationship building. Cash received from legacies increased significantly during the year bringing in £1.850k compared to £773k in 2022r23. Investment income increased by £26k against prior year. conlribuling £450k. We stTenglhenèd the planned commercial incorne in the year by opening ts¥o offsite shops in Hailsham and Uckfield. The trading Performan￿ of our oftsrte shop in Lewes continued to exceed expectations. Restricled income donations of £99k were re¢eNed during the year12022123 £44kl. P3ge11 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustèes. Report Icontinuedl For thè Yèar Ended 31 March 2024 Total expenditure increased year on year due to continued investment in our commercial and fundraising 8¢tivitie5. Fuel costs also increased SKJnificantly during the year. as a result of the 'energy crisis, impa¢ting the global prices for gas, electricity and oil. Tight control ensured that chantable expenditure did not exceed the budget Sel al the beginning of the yeaf. The Board of Trustees have reviewed irbcorne and expenditure over the next five years with the objective of reducing the reliance on legacy and investment income. the first of which fluctuates considerably from year lo year. In addition, the costs reialed lo National Living Wage and National Insuran￿ increases. along with other salarylreward adjustments. will need lo be covered by new income in the iTnmediate and longer term. We expect expendrture to exceed income for the next fwe years and have sUffic￿nt funds set aside in our reserves lo fund this shortfall. We have undertaken another iev7ew of our income generation strategy to ensure that we are maximising our engagement with ou¥ stakeholders. and the Charity plan5 10 invest in and increase non-restricled income through its Commercial and fundraising operations over the next five years. Our investment portfolio started the year with a value of £12.9m1£12.8m investments and £0.1m cash awaiting investmenll. Cash drawdowns of £0.83m were made during the year to ftjnd our aclivities. The portfolio ended the year with a value of £12.1m {£11.8m investments and £0.3m cash awa￿'n9 investment). Inveslmènt Policy The charitable c¢ynpany has a portfolio of investments managed by Chartes Stanley & Co Limrfced under a discretionary agreement in accordance with an investment policy agreed and regularly monitored by the Trustees who m*1 with the Fund Managers at least every six month5. The overall investment objective agreed by the Trustees is to maximise the tolal Teturn whilst having regard lo the charrtable nature of these funds and Trustees, iesponsibility to avoid unacceptable risks. The Fund Managers have been mandated to ensure that securities held in the portfolio do not Contravene our specific ethical requirements regarding animal testing and Iransportalion. The Fund Manager also ensures th* it is an active custodian of the Charity's assets and actively votes on governance issues for any equty securities held direclty. Where the Fund Managers use third party lullds, it is recognised that there is limited conlrol over the underlying allocation and rts ethical positioning. The target required of the Fund Managers is to achieve a perfomiance against a bespoke benchmark. Risk Management The Board of Trustees has considefed the risks Wh￿ face the Charity in the delivery of rts objectives and has compiled and regulady rewews a iegister of these risks. both internal and external. Risks are assessed according lo their potentral impact ors the Charity and the likelihood of their occurrence. Management and mitigation strategies are in Pla￿ lo ensure that the adverse effect5 of those risk5 are ￿d￿ced as far as possible. The Board consider5 that the principal risks which face the Charity are.. The vdalility of the sources of income on which the Charity relies to cary out rts work. principally legacy income which by rts nature is unpredKtable. and fundraising from the public. The board is actively pursuing strategies lo diversify the sources of the Charity's income. Operational issues such as the risk of the oulbieak of sefious disease. or a change in the nature or number of the animals admitted leading lo problems wifh the capacty of the Cenlre. The Charity has a business Conlinuity plan in place to mitigate the effects of these risks. Internal control risks are minimised by the implementslTron ol appropriate poli¢y and procedure. We have retsined an external specialist ¢ompany to support the Charty in managing heaf(h and safely procedures for our staff. volunteers and visitors. A membec of staff. in conjunction with an external consultancy. is the lead on GDPR matters. We retain specialist lawyers for assistance wrth employment matters, and have ¢ornprehensive property. busine55 continuty. public liability and employers. liability insurance in place. Page 12 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Trustees. Report Icontinuèdl For the Year Ended 31 March 2024 The Charity's risk register continues to be revised regularty lo tske into account changing circumstances. Optimistic and pessimistic budget scenarios together with longer lem) projection5 continue lo be considered. together wrth regular ￿fOrecasts. All aspects of health & safety have been thoroughly risk assessed. Reseryes Al 31 March 2024. the Charity held free reserves of £13.174.574. calculaled in accordance with Charty Commission guidance as follows.. Total Charity lunds of £17.593.564 le5S the designated fund for tangible fixed assets used lo carry out our activities of £4.048.534. the investment fevaluation reserve of £351.563 and reslricled tunds ol £18.282_ Reslricted funds are given or raised for specific PLtrposes and are not available for use in the general purposes of Ihe Charity. The Charitys ceserves are held predominantly as 1nveslmenls which are classed as income funds and are used lo generate unrestri¢ted income lo fund the Charity's activities. The Charity's reserves policy is lo maintsin a level of free rese￿e$ thal will enable il to ensure continuty of activity in the event of significant physical disruplion to rts activities, an exceptional shortfall in income or increase in cost5, to fund major programmes and capital piojecls which il is not able lo fund from day to day recurring sources of income. and have the abilty to respond in a measured Wdy to changes In the external economic enirironment and demands on our services. The ¢harity uses a risk4)ased approach to calculating the amount to set aside as reseTves. Using ils risk regislei as a basis. we calculate the amount we need to set aside to enable the Charity lo continue operating should any of the risks materialise. The Charity has incurred cash deficils for the last five financial years. is budgeting for a further deficit for the year ending 31 March 2024, and projections suggest that we will continue to incur deficits until at least 2029130. The principal reasons for the ongoing deficits are substsnlial increases in the costs of funding our charitable actwitie5, such as fuel and power, and a shortfall in income resulting from under-inveslmenl in fundraising and commercial activities for an exiended period of time combined with currentty investing subslanlial amounts in pr(￿rammeS lo increase income from these SoUr￿s. In addrtion. we continue lo invest in our facilities in order lo advance our charitable aclimlies. Taking into account the need lo fund future de11cils. the potential costs of other risks idenltfied from our review of our risk register and current plans to invest in our facilities, Ihe Board estimates that the Charity should sel aside beiween £S.Sm and £6.Om of its reserves. We have a number of specifie projects and programmès in the earfy stages of planning which will improve further the charitable work that we are able lo carry out and these. too. will be funded from our ￿SerVes. Folbwing the coronavirus pandemic. the Charity is fortunate that il has SLrfficTrent reserves on which rt can draw to enable il to maintain and invest in rts charitable activf¢ies for the foreseeable future. This policy is under continual review as our posl-coronaviws strategy evolves. Plans for Future Periods Our strategic challenges. now and for the future. are demanding. We must understand the changing environment in which we operate and ￿ proactive and innovattve in how we adapt lo challenges. We wish to use our expertise and knowledge lo dernonslrale our exemplary work in the field of animal welfare and we will ensure we are effective In promoting the Chanty to maintsin our repuialion. supporters and income. We musl also ensuie that we have robust financial planning in ptace lo achieve our stralegic goals. Throughout 2023 and 2024 there has been a strong focus on Raystede 5 sliategy wilh time sel aside for Trust*s and SMT lo review and discuss future direction. purpose and Pfojecls. Strategic planning will drive the ¢harily towards future economic stability and growih lo fully achieve Raystede's objectives and desired impact_ Specifically. we have currently identified the following aieas as priorities for each of our main areas of chaiilable aclwity". Page13 The Raystede Centre for Animal Welfare Limited IA Cornpany Limited by Guarantee) Trustees, Report Icontinuedl Forthe Year Ended 31 March 2024 Achieving financial stability We will increase net fundraising income with the aim of rebalancing the proportion of fundraising to legacy income to create a more stable and predictable annual income. We will seek to maintain strong legacy receipts through a long4emi commitment to our stakeholders. We will manage current commercial businesses to optimise income generation whilst also idenlfying and planning the develc)pment of further commeicial opportunities off-site lo generate new income streams. We will evaluate expenditure in all departments on a regular basis to drive efficiencies wherever found, reducing our cost base whenever possible. Rehoming services It is a core stralegy of the Charity to ma￿Mise the number of animals rehomed Mthin our existing infrastructure. We will continue to review prf resources e.g. allocating property costs by floor area. staff costs by time spent and other ¢osts by their usage. Expenditure on raising fvnds includes all expenditure incurred by the Group lo raise funds for ils charitable purposes and includes costs of all fundraising actNities events and non 0> o) ti J p> Ln J rn The Raystede Centre for Animal Welfare Lirntted IA Cornpany Limitèd by Guarantee Notes to the Financial Statements For the Year Ended 31 March 2024 13. Fixed asset investments Listed investments Group Cost or valuation At 1 April 2023 Addilions Disposals Unrealised losses Rea115ed gains 12.855,818 4.571,902 14.915.900) 1794.7931 387.395 At 31 March 2024 12,104,422 Net book value Al 31 March 2024 12,104,422 Al 31 March 2023 12.855,818 Investments in subsidiary Listed ¢ompanies investments Total Charity Cost or valuation At 1 April 2023 Addrtions Disposals Unrealised losses 12,855,818 12,855,820 4.571,902 4,571,902 14,915,900) 14,91 5,9001 1794,7931 1794,7931 387.395 387,395 Realised gains At 31 March 2024 12,104,422 12,104,424 Net book value Al 31 March 2024 12,104,422 12,104.424 At 31 hAarch 2023 12 855.818 12.855 820 The historical cost of listed investment5 was £11.646.33912023". £11.709.4621. Current asset investments ￿late to cash held by the investment managers for investment purposes. Page 36 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee Notes to thè Financial Statements For the Year Ended 31 March 2024 14. Stocks Group 2024 Group 2023 Finished goods and g(x)ds for resale 14,030 15.918 15. Debtors Group 2024 Group 2023 Charty 2024 Charity 2023 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 26.176 11.439 13,503 13,706 837,076 81,186 7.979 45,388 943,371 60,165 837.076 81.59S 943,377 61.332 944.847 1,016.148 945,471 1,056.909 16. Current asset investments Group 2024 Group 2023 Charity 2024 Charity 2023 Cash held by investment managers 260,314 107.040 260,314 107.040 17. Creditors: Amounts falling due wwthin one year Group 2024 GfOUP 2023 Charity 2024 Charity 2023 Trade creditors Other taxation and social security Obligations under finance lease and hire purchase contracts other creditors Accwals 117,356 46,676 186.435 113,287 46.630 167.396 36.584 4.325 39,959 64.033 4,325 39,959 63,529 21.143 35,191 21,143 34,610 272.349 219.353 267.730 259.733 Page 37 The Raystede Centre for Animal Welfare Limited IA Company LÈmitèd by Guaranteel Notes to the Financial Statements Forthe Year Ended 31 March 2024 18. Creditors: Amounts falling due after more than one year Group 2024 Group 2023 Charity 2024 Charity 2023 Net obligations under finance lease and hi purchase contra¢ts 18.122 18,122 19. Statèment of funds ststemènt of fvnds- Current year Balance at 31 March 2024 Balance at 1 April 2023 TransfeT5 inlout Gainsl {Lossesl Income Expenditure UnTestrictefl funds Designated funds Fixed Asset Fund 3,889,531 1249.6051 409.219 4,049,145 General funds Investment Revaluation Reserve 1.146,356 1794.793} 351,563 Other Charitable Fund5 12,902,681 4,566,768 I4.698.4631 423,073 119.4851 13.174.574 14.049,037 4,566.768 14.698.463) (371.7201 119.4851 13,526,137 Total Unrestricted funds 17,938,568 4,566,768 14,948,068) 37,499 119,4851 17,575,282 Page 38 The RaystedÈ Centre for Animal Welfare Limtted IA Cornpany Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 Marrh 2024 19. Statement of funds (continued} Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Gainsl (Losses) Income Expenditure Restricted funds M and S Hunt Trust Chall( Cliff Trust Jelinek S Whrte Cow Bonfire Society D Barnes Aviaries Equine Small Animals D Laraway C Nicholson S Tiney BUPA Foundation 15431 {3,0001 Isoo} 1219} 3.000 soo 219 600 161JOI 121,9791 {1,9941 {8431 1320} 11.727 {26.103} 11.0061 14.3901 15.918 2,000 3.000 4,890 364 1.727 1.000 10.000 11,0001 110.0001 5.000 3.420 {5,0001 13.420} PACE days Pet Plan Charitable Trust 5,000 15,0001 6,605 99,321 150.1451 137.4991 18,282 Total of funds 17,945,173 4,666.089 14,998,213) 119,4851 17,$93,564 Page 39 The Raystede Centre for Animal Welfare Limited IA Company Limited by Guarantee) Notes to the Financial Statements Forthe Year Ended 31 March 2024 19. Statemènt of funds (continued) Restricted funds: D Barne5". Funds to support the operational costs and long term improvements for the ¢attery and Provide sail shades lor the kennels. surgical equipment and terrapin project signage. Aviaries". Funds 10 5UPPOrt aviary alterations and provide enrichment and equipment. Equine.. Funds lo support alpaca welfare and accommodation, surgery for Lvzzie the donkey and mud mats. Small Animals. Funds to support the operational cosls for small animals and purchase a rodent enclosu￿. PACE Days". Funding Pet Advi￿ and CommunTty Events run by the education team. M and S Hunt Trust.. Funds to provKle Kennels enrichment equipment. Chalk Clrff Trust.. Funds lo provide educational woth with children. Jelinek". Funds lo support the operational costs of the kennels. S White.. Funds for the surgery on Bety the cat. Cow Bonfire Society." Funds lo provide new healing panel for the kennels. D Laraway.. Funding for c* neuterin9. C Nichdson." Funding for the Te￿apIn proie¢L S Tiney.. Funds 10 5UPPOrt the cattery operational costs. BUPA Foundats'on.. Funding for the 2024 staff & volunteer Onboarding programme. Pet Plan Charrtable Tiusl." Funding for field sheKer for Oclober & Camp fields. Page 40 Thè Raystede Centrè for Animal Wèlfarè Limited IA Company Limited by Guaranteè) Notes to the Financial Statements Fortheyear Ended 31 March 2024 19. Statement of funds Icontinuedl Statement of funds- prior year Balance al 31 March 2023 Balance * 1 April 2022 Transfers inlout Gainsl ILossesl In¢ome Expenditure Unre$tri￿ed funds Designated funds Fixed Asset Fund 3,966,431 1210.8671 133,967 3,889,531 General funds Investment Revaluation Reserve 3.463.445 {2.317.0891 1,146.356 Other Charitsble Funds 12.451.166 3.358.178 14.020.9891 2.197.122 11.082.796) 12.902,681 15.914.611 3.358.118 14.020.9891 1119.9S71 11.082.796) 14.049,037 Total Unrestricted funds 19,881,042 3,358,178 14,231.8561 14,000 {1,082.7961 17,938,568 Page 41 The Raystede Centre for Animal Welfarè Limited IA Company Limited by Guarantee) Notes to the Financial Statements Fortheyear Ended 31 March 2024 19. Statement of funds Icontinued) Balance at 31 March 2023 Balance at 1 April 2022 Transfer5 inloul Gainsl (Losses) Income Eypenditure Restri¢lèd fund$ Equine veterinary expenditure M and S Hunt Trust 2,743 {2.400} 343 1.O¢JJ 14571 543 Aviary alterations Chalk Cliff Trust Jelinek S White Cow Bonfire Society D Barnes Aviaries 2,000 12.831 7.￿9 5.000 (12,8311 {7.9691 15.000} 1.000 3.OlX) 500 5.000 6.000 6CIO 11.0001 3.000 500 Equine Small Animals 15.0001 16,0001 D Laraway C Nichdson S Tiney 16001 3.000 219 13.0001 219 5.743 45.119 130.257} 114.0001 6.605 Total of funds 19.888.785 3,403.297 14,262.1131 11.082.796) 17.945,173 Page 42 The Raystede Centre for Animal Wèlfarè Limited IA Cornpany Limited by Guarant•èl Notes to thè Financial Statements Forlhe Year Ended 31 March 2024 20. Summary of funds Surnmary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Gainsl {Lossesl Income Expenditure Designated funds 3.889,531 14,049,037 6,605 1249.6051 14.698.463) {50.1451 409,219 1371.7201 137.4991 4,049,145 119,4851 13,526,137 18,282 General funds 4,566,768 99,321 Reslricted funds 17.945,173 4.666.089 {4,998,2131 119,4851 17,S93,564 Summary offunds- prioryear Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Gainsl (Losses) Income Expendrture Designated funds General funds 3.966.431 15.914.611 5.743 1210.8671 133.967 3.889.531 3.358.178 14.020.9891 {119.9671 11.082.796) 14,049,037 45.119 130.2571 {14.0001 6,605 Restft¢ted funds 19,886.785 3.403.297 14.262.113) 11.082.796) 17,945,173 21. Analy$is of net assets between funds Anatysis of net assèts behvèen funds - current period Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Intangible fixed assets Fixed asset investments Curienl assets Creditors due wi(hin one year Creditors due in more than one year 4.048.534 615 12,104,422 1.712 182 1272.3491 118.1221 4,048,534 615 12,104.422 1,730,464 1272,3491 118,1221 18,282 Total 17.575.282 18.282 17.593.564 Page 43 The Raystede Centre for Animal Welfare Limited IA Company knmited by Guarantee) Notes to the Financial Statemènts For the Year Ended 31 March 2024 21. Analysis of net assets between funds l¢ontinuedl Analysis of net assets between funds- prior period Unreslricled funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Inlangible fixed assels Fixed asset invesiments 3.888.712 820 3,888.712 820 12,855,818 1,479,176 1279,3531 12.855.818 1.472.571 1279.3531 Current assets Creditors due within one year 6.605 Total 17.938,568 6,605 17,945,173 22. Reconciliation of net movement in funds to net cash flow from operating activities Group 2024 Group 2023 Net lexpenditurel for the year las per Statement of Frnan¢ial A¢tMtiesl 1351,6091 11.941,6121 Adjustments for- Depreciation charges Amortisation charges Losses on investments Dividends, interests and rents from investments Loss on the sale of fixed assets 248.079 205 210,727 205 407,398 1467,6901 1.321 1,888 71,301 11.116 1.082,796 1438.9311 452 Decrease in stocks Decreaselllncreasel in debtors Increase in creditors 30 1340,8961 45,135 Net cash used in operating activtties 177,9911 11.382,0941 23. Analysis of cash and cash equivalents Group 2024 Group 2023 Cash at bank and in hand 511,273 260,314 340.070 107.040 Current asset investments Totsl cash and cash equivalents 771,587 447.110 Page 44 The Raystede Centre for Animal Welfarè Limtted IA Company Limited by Guarantee) Notes to thè Financial Statements Forthe Year Ended 31 March 2024 24. Anatysis of changes in net debt At 1 April 2023 Cash flows At 31 March 2024 Cash al bank and in hand 340.070 171,203 511.273 Liquid investmenls 107,040 153,274 260,314 447.110 324,477 771,587 25. PÈn$ion commitments The group operates a defined contribution pension scheme for its employees. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £75,96712023.' £42,256). Al the balance sheet date £14.(￿5 was recognised as a liability owed lo the scheme 12023.. £8.7151. 26. Operating lease commitments At 31 March 2024 the Group and the Charity had Commitments to rnake flrture minimum lease payments under non-¢anGellable operating leases as follows". Group 2024 Group 2023 Charity 2024 Charity 2023 Not later than 1 year Later than 1 year and not kler than 5 years 114.738 272.569 116.891 387.307 114.738 272,569 115.143 387.307 387.307 504.198 387.307 503.050 27. Related party transaction During the year P J Vine-Hall, a member of the Board of Trustees. supplied hay to the group lotalling £Nil 12023.. £3501. There were no amounls oulstanding at the year end12Q23.' £Nill. During the year the charty paid £294 for membership to the Charity Retail Association, of which S Derrick ttrusleel is a director. There were no amounts outstanding at the year end. Exetnplion frorn the requirement lo disclose transactions between wholly owned group members has been taken in accordance with provisions in FRS8. 28. Controlling party There is no ultimate eonlrolling party. Page 45 The Raystedè Centrè for Animal Wèlfare Limited IA Company Limitèd by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2024 29. Principal subsidiaries The following were subsidiary undertakings of the Charrty.. Names Company Registered number office or principal place of business Principal activity Class of Holding Included in shares consolidation Rayslede Animal Services Limrted 03182365 Rayslede. Ringmer. Lewes. East Sussex. BN8 5AJ To undertake cremation semces and the piowsions ol a cafelshop to further the charrtable benefit of the charity. A design and ¢onstru¢tion cornpany wh￿h assists the We￿are and servI￿s activrties and lacilrtates buikling projects. Ordinary 100Qh Yes Rayslede CentTe Construction Limrted 04838919 Ra￿tede. Ringmer. Lewes. Easl Sussex. BN8 Ordinary 10Wo Yes The financial ￿SU11$ of the subsidiaries for the yeai were.. Names Incomè Expenditure ProfiUILossl I Surplusl (Deficit) for the year Net assets Raystède Animal Services Limited Raystede Centre Construction Limrted 590.843 {527.$041 63,339 66.307 Page 46