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2023-12-31-accounts

RSPCA West Dorset Branch

Annual Report and Unaudited Financial Statements

For the Year Ended 31 December 2023

Charity Registered in England and Wales Number: 248616

RSPCA West Dorset Branch Contents For the Year Ended 31 December 2023

Page
Reference and Administrative Details 1
Trustees’ Report 2 – 9
Independent Examiner’s Report to the Trustees 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to Financial Statements 13 – 25

RSPCA West Dorset Branch Reference and Administrative Details For the Year Ended 31 December 2023

Trustees D Cox
Chair
C Elgar
S Fisher
C Moore
N Pengelly
F Renouf
Key management personnel T Every
Taylors Centre Manager
C Watts
Taylors Centre Deputy Manager
(resigned 31/08/2023)
C Moore
Branch Administrator
Charity Number 248616
Principal Address and Registered Office PO Box 5460
Weymouth
Dorset, DT3 6WH
Website: www.westdorsetrspca.org
Email: mail@westdorsetrspca.org
Branch (runs and owns) Taylor’s Re-homing Centre
Higher Dairy
Kingston Maurward College
Dorchester
Dorset, DT2 8PY
Email: taylors@westdorsetrspca.org
Independent Examiner Michelle Ferris BSc (Hons) FCA DChA
Albert Goodman LLP, Goodwood House, Blackbrook Park
Avenue, Taunton, Somerset, TA1 2PX
Bankers Lloyds, 92 St Mary Street, Weymouth, Dorset, DT4 8PA
Investment Managers Epworth Investment Management Limited, 9 Bonhill Street,
London, EC2A 4PE
Employment Advisors Croner, Croner House, Wheatfield Way, Hinckley LE10 1YG
Legal Advisors Womble Bond Dickinson, Temple Quay, 3 Temple Back East,
Bristol, BS1 6DZ
RSPCA National Society Parkside, Chart Way, Horsham, West Sussex, RH12 1GY
Cruelty line: 0300 1234 999
Advice line: 0300 1234 555
Website: www.rspca.org.uk

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Page 1

RSPCA West Dorset Branch Trustees’ Report For the Year Ended 31 December 2023

The Trustees’ present their report and accounts for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, comply with the Charity’s governing document, applicable law and the requirement of the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP FRS 102) (implemented 1 January 2019).

Trustees

The Trustees serving during the period and since the period end are as follows:

OBJECTIVES AND ACTIVITIES

Objectives and public benefit statement

We promote the work and objects of the national RSPCA, being to prevent cruelty, promote kindness, and to alleviate the suffering of animals, in the West Dorset and Axminster (Devon) area.

Our charitable activities

  1. We take into care and rehome unwanted and stray pets through Taylor’s Rehoming Centre.

  2. We assist pet owners in the Branch area who are on low incomes with payment for female cat neutering treatment.

  3. We promote the work and objects of the National RSPCA – to promote kindness and to prevent or suppress cruelty to animals by lawful means. We support the work of local RSPCA Inspectors.

Objects and public benefit statement

  1. The RSPCA West Dorset Branch is an unincorporated charitable association and a separately registered branch of the Royal Society for the Prevention of Cruelty to Animals (the Society), carrying out its direct animal welfare work in the area of West Dorset (and Axminster).

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RSPCA West Dorset Branch Reference and Administrative Details For the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES continued

  1. The objects of the Branch are to promote the work and objects of the Society - to promote kindness and to prevent or suppress cruelty to animals by all lawful means - with particular reference to the area of the Branch, in accordance with the policies of the Society.

  2. 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 Commission.

Advancement of animal welfare

  1. Under the Charities Act 2011, the advancement of animal welfare is recognised as a distinct statutory charitable purpose. This legislation and the Animal Welfare Act of the same year indicate an acceptance by society that treating living creatures with compassion has a moral benefit for the public as a whole. Whilst this public benefit is clear, it is sometimes difficult to quantify and must be balanced against any detriment.

  2. The Branch’s animal welfare work, although local in nature, benefits society at large, and also aims to help people in need with the care of their animals. The next section of this report highlights the Branch’s main activities and demonstrates the benefit provided to the public (in italics). All our charitable activities, as described in more detail in the following pages of this report, focus on promoting kindness and preventing or suppressing cruelty to animals and are undertaken to further these purposes for the public benefit.

Charitable activities pursued for the public benefit

  1. We support our local Inspectors by taking in, free of charge, mistreated or abandoned animals, including pets whose owners suffer ill health or financial difficulties or pass away. The Society’s Inspectorate (as well as providing education, information and advice) rescues animals in distress and enforces laws against the cruel mistreatment of animals in England and Wales by bringing prosecutions. This work is key to ‘the prevention or suppression of cruelty’ part of the RSPCA objects, and promotes humane sentiments towards animals which involves moral benefit to humankind as a whole.

  2. We provide subsidised neutering for female cats and microchipping of companion animals for those in the Branch area on low incomes. We do this through our Welfare scheme. This work helps to control cat populations through neutering and benefits those on means tested benefits by giving them financial help to neuter and microchip companion animals, thereby promoting responsible pet ownership.

  3. Animals in our care receive veterinary treatment, vaccination, neutering, micro-chipping and are assessed for rehoming. This work helps to control the incidence and spread of disease and suffering through vaccination and neutering.

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RSPCA West Dorset Branch Reference and Administrative Details For the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES continued

  1. We rehome animals in need at low cost to people willing and able to have a companion animal. Whilst we recognise that companion animals provide measurable benefits to people’s physical and mental health, we consider the provision of pets as a subsidiary to the main charitable aim of this service, which is to reduce animal suffering. Our policy to charge a reasonable adoption fee for animals aims to highlight the ongoing personal and financial commitment of pet ownership. It would not be in the best interests of animals, and therefore would fall outside our objectives, to rehome to those who could not afford them.

  2. We take in, free of charge, lost animals and take steps to reunite them with owners. This work benefits our local community (including local authorities) by preventing animals straying and posing a risk to themselves and to people through road traffic accidents.

  3. We respond to enquiries (both direct and via the Society’s national call centre) from the public about animals locally. The public benefits from knowing that we can intervene to assist animals in need.

  4. We offer free animal care advice at our rehoming centre. The public benefits through the promotion of responsible pet ownership.

  5. Within the terms of our governing document, we support the National Society and other RSPCA branches through collaborating on animal welfare initiatives and providing financial support for pet owners. The public benefits through our collective efforts to provide additional financial support by working together.

  6. We provide volunteering opportunities for those who wish to support our work, including trusteeship, fostering and fundraising. This benefits local people and companies by providing the possibility of doing work which is compassionate and rewarding.

Aims and Objectives

Strategies to achieve Aims and Objectives

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Page 4

RSPCA West Dorset Branch Reference and Administrative Details For the Year Ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE

Fundraising

2023 was another challenging year for the Charity. The Bridport shop performed well, but the Sherborne shop has seen a drop in income. A new Weymouth shop was opened in June but has not yet performed as well as hoped. All three shops have had a lot more focus since November 2023 with a view to identify improvements that can be made to increase income. Total income for the year from all three shops was £190,030.

The Branch received £8,692 in Legacy income during the year. As ever, we are extremely grateful for the generosity of our donors, and committed to ensure that the legacy income we receive is spent for the maximum possible benefit for the animals in our care. The Trustees were actively engaged in promotion of Legacies to protect the future finances of the Charity and will continue to do so in 2024. In addition to Legacy income, the Branch received £876 from Funeral Donations.

Income is generated at Taylors Rehoming Centre through homing donations, sale of food, litter and other goods, a small provision for holiday boarding for animals rehomed from Taylors (now ceased), pen sponsorship, general donations and fundraising events. The Taylors Open Day event continued to be a popular and successful event raising £4,104 this year. Total income generated by Taylors in 2023 was £49,239. In addition to this, income from the “Friends of Taylors” and regular standing orders brought in £4,798.

£23,094 was received from RSPCA Headquarters in respect of the national door to door fundraising initiative. The Branch itself does not carry out door to door fundraising, but we are very grateful for the proportion of funds raised which are passed to the Branch as a result of the National RSPCA initiative.

Our investments generated £10,464 in interest and dividends. The Trustees closely monitor the performance of our investment portfolio and endeavour to maximise income with minimal risk to capital.

We were able to reclaim £3,454 in Gift Aid in 2023. We are grateful for our donors who kindly elect to allow us to claim Gift Aid on their donations, and also for all small cash donations, which are eligible for Gift Aid payments under the GASDS scheme.

Our static collection boxes throughout the Branch area, brought in £327. We would like to thank the shops and businesses who kindly allow us to keep collection boxes on their premises, and to the volunteers who kindly manage them.

Performance

The income generated by the Branch is used to meet the three main charitable objectives of the Branch set with regards to public benefit.

1. We take in to care and rehome unwanted and stray pets through “Taylor’s Rehoming Centre”.

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RSPCA West Dorset Branch Reference and Administrative Details For the Year Ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE continued

Taylor’s total running costs for 2023 were £192,093. The following table shows the number of animals rehomed in the past three years

Rehoming: Numbers of animals rehomed by Taylor’s 2023

CATS RABBITS HENS OTHER
2021 78 25 0 68
2022 69 14 0 36
2023 120 26 0 46

2. We assist pet owners in the Branch area who are on low incomes with payment for veterinary treatment.

The total cost of Welfare expenditure in 2023 was £200. This is substantially less than in years prior to 2022 when the Trustees voted to focus on the neutering of female cats only. This will be reviewed again in 2024 with consideration given to expanding Welfare activity as and when the financial situation permits. The following table shows the number of animals assisted by our welfare activity over the past three years. We also work together with the Portland Food Bank to provide pet food for qualifying food bank customers throughout the year.

Welfare : Veterinary procedures financially assisted by the Branch 2023

CATS DOGS OTHER
MEDICAL NEUTERING MEDICAL NEUTERING MEDICAL NEUTERING
2021 9 7 10 2 2 0
2022 1 19 0 0 0 0
2023 0 5 0 0 0 0

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RSPCA West Dorset Branch Reference and Administrative Details For the Year Ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE continued

3. We promote the work and objects of the National RSPCA - to promote kindness and to prevent or suppress cruelty to animals by all lawful means. We support the work of local RSPCA Inspectors.

During 2023 the Branch continued to use its social media profile to promote national campaigns and the Branch provides support to the National RSPCA Inspectors by taking in Inspectorate generated animals wherever possible.

FINANCIAL REVIEW

The Branch received income from donations and legacies totalling £84,936 during the year compared with £70,277 in 2022. Additional income received consisted of income from other trading activities totalled at £199,906 (2022: £208,543) and investment income was £10,464 (2022: £10,027). Total income for the year increased to £301,384 compared with £294,088, in 2022.

Total expenditure increased slightly to £360,063 (2022: £359,032). The net deficit for the year was £75,682 (£123,525 in 2022 including investment losses).

Our Financial Reserves policy

As of 31 December 2023, total funds stood at £602,928 which includes £528,592 of free reserves available (including investments) to the Branch. This is equivalent to more than 17 month’s current expenditure. The Branch aims to ensure that the financial reserves at any one time would cover at least twelve months predicted expenditure. This is to protect the Branch from fluctuations in income in order that levels of service provided for the welfare of local animals may be maintained in the event of a reduction in incoming resources. Reserves, in this context, means funds that are freely available for the Branch’s general purposes after all commitments have been met and excludes fixed assets.

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RSPCA West Dorset Branch Reference and Administrative Details For the Year Ended 31 December 2023

FINANCIAL REVIEW continued

If the financial reserves substantially exceed eighteen months predicted expenditure at any one time, the trustees will seek to increase and expand the animal welfare activity of the Branch.

In previous years a large part of the Branch income has been legacy related and whilst the trustees do all they can to encourage legacies to the Branch, by its very nature legacy income cannot be predicted.

FUTURE PLANS

In 2024 the Trustees aim to maximise the profitability of the Bridport shop, and increase revenue from the Sherborne and Weymouth shops via constant review and implementation of new marketing strategies, improved staff engagement, increased promotional events, and the introduction of the sale of electrical goods. Suitable premises for other shops will be sought, including ‘pop up’ shops if possible. The performance of all shops will continue to be closely monitored. Legacies will be further promoted via leaflets, in-shop campaigns, social media, and contact with local solicitors. The Branch will aim to substantially increase the number of fundraising and promotional events as resources allow. Use of social media will be further increased to promote the work of the Branch. Taylors Rehoming Centre will have a number of improvements, including the installation of new, more suitable rabbit facilities, and the replacement of outdated heating equipment. This will provide better conditions for the animals on site and help to maintain the excellent standard of care given. The increase in promotional events and use of social media will help maximise the number of animals rehomed.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a branch of the South West Regional and National RSPCA and was registered on 13 July 1966 (number 248616). It is governed by the RSPCA Branch model rules and subject to the overall supervision of the RSPCA, but otherwise manages its own affairs and finances independently.

The charity is run by the branch committee whose members are the charity’s trustees. The Committee is elected by branch members at the AGM (5 to 14 trustees), or may be co-opted by the existing committee if they have particular skills required; up to 3 trustees may be co-opted in a year. Candidates for election at the AGM must be nominated by two eligible branch members and must receive in excess of 50% of the votes of those eligible members who are present and who vote at the AGM. To stand for election at the AGM, or to exercise voting rights, individuals must have been members of the branch for at least 3 clear calendar months. A declaration of willingness to act must be completed and signed before being eligible to vote at meetings.

Induction and training is covered by the provision of information packs and booklets from the National Society and the Charity Commission, as well as guidance and training from existing committee members.

There are three lead officer posts, Chairman, Treasurer and Secretary, and additionally nominated trustees take a lead responsibility for such things as line management of the rehoming centre, shops and website management.

Trustees receive support and advice from the Branch Support Specialist (from the South West Regional RSPCA) who attends branch committee meetings and is always on hand to offer guidance.

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RSPCA West Dorset Branch Independent Examiner’s Report to the Trustees For the Year Ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT continued

Additionally, one trustee is elected to the South West Regional Board, which meets on a regular basis to agree and assess campaigns, networking and home visiting schemes, and receives information on Inspectorate issues.

Matters that require a vote must be proposed and seconded by individual trustees and all trustees present at the meeting have one vote. The Chairman of the meeting is not eligible to vote unless in the case of the tie, in which case the vote of the Chairman is the deciding vote.

The trustees are legally required to draw up and implement a Risk Management Strategy. Once it is in operation daily implementation can be delegated, but the final responsibility lies with the trustees, who are liable for any infringement. Our very comprehensive Risk Management Strategy has been put in writing and made available to our auditors. The Strategy is reviewed and updated regularly.

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and 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/constitution. 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on ………………………………

………………………………. D Cox Chairman

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RSPCA West Dorset Branch Independent Examiner’s Report to the Trustees For the Year Ended 31 December 2023

Independent examiners report to the Trustees of RSPCA West Dorset Branch

I report to the trustees on my examination of the accounts for RSPCA West Dorset Branch (“the charity”) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Albert Goodman LLP provides the charity with book-keeping services. I confirm that the necessary safeguards as required by the Directions of the Charity Commission have been implemented, and that I have applied the provisions of the Revised Ethical Standard 2016 issued by the Financial Reporting Standard.

Independent examiner’s statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not comply with these records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

…………………………………………… Michelle Ferris BSc (Hons) FCA DChA Goodwood House for and on behalf of Blackbrook Park Avenue Albert Goodman LLP Taunton Chartered Accountants Somerset TA1 2PX

Date: ………………………………………

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RSPCA West Dorset Branch Statement of Financial Activities For the Year Ended 31 December 2023

Note
Income:
Donations and legacies
2
Income from other trading
activities
Trading income
3
Other fundraising income
Investments
4
Total income
Expenditure:
Costs of raising funds
Investment manager's fees
Trading expenditure
3
Other fundraising and
publicity costs
Charitable activities
5
Total expenditure
Net income/(expenditure)
before other recognised
(losses)/gains
Gains/(losses) on
investments
Net income/(expenditure)
before transfers
Transfers between funds
12
Net movement in funds
Reconciliation of funds
Total funds brought forward
12
Total funds carried forward		 Unres-
tricted
£
70,178
199,906
6,078
10,464		 Res-
tricted
£
14,758
-
-
-		 Total
2023
£
84,936
199,906
6,078
10,464
Unres-
tricted
£
58,892
208,543
5,241
10,027		 Res-
tricted
Total
2022
£
£
11,385
70,277
-
208,543
-
5,241
-
10,027
286,626 14,758 301,384 282,703 11,385
294,088
-
465
-
156,073
-
-
148,255
202,494
3,223
132,431
75
196,782		 -
-
-
27,552		 3,223
132,431
75
224,334		 465
156,073
-
54,239
332,511 27,552 360,063 210,777 148,255
359,032
(136,870)
(64,944)
-
(58,581)
(45,885)
(17,003)		 (12,794)
-		 (58,679)
(17,003)		 71,926
(58,581)
(62,888)
-		 (12,794)
-		 (75,682)
-		 13,345
-		 (136,870)
(123,525)
-
-
(62,888)
593,398		 (12,794)
85,212		 (75,682)
678,610		 13,345
580,053		 (136,870)
(123,525)
222,082
802,135
530,510 72,418 602,928 593,398 85,212
678,610

The statement of financial activities has been prepared on the basis that all operations are continuing operations.

There were no gains or losses arising in the period that are not shown above.

The statement of financial activities incorporates the income and expenditure account.

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RSPCA West Dorset Branch Balance Sheet As at 31 December 2023

Note 2023
2022
£
£
Fixed assets
Tangible fixed assets
8		 74,336 93,358
Investments
9		 - 416,290
74,336
509,648
Current assets
Stock		 3,995 3,635
Debtors
10
Cash at bank and in hand		 13,308
530,164		 24,434
158,094
Liabilities
Creditors falling due within one year
11		 547,467
(18,875)		 186,163
(17,201)
Net current assets 528,592
168,962
Total net assets 602,928
678,610
The funds of the charity:
Restricted funds
12		 72,418
85,212
Unrestricted funds
General
12
Designated
12
Total unrestricted funds		 530,510
-		 177,108
416,290
530,510
593,398
Total charity funds 602,928
678,610

The financial statements were approved by the Board of Trustees on ……………………. and signed on their behalf by:

……………………………………….

D Cox Chair

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

1 Accounting policies

The principle accounting policies adopted in the preparation of the financial statements are:

1.1 Basis of accounting

The financial statements have been prepared in £ sterling on the historical cost basis and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP FRS 102).

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2

Income

Income from donations is recognised on a cash basis, in the year the income is physically received, except when the donors specify that they must be used in future accounting periods or donor conditions have not been fulfilled, then the income is deferred.

Bequests and legacies are included when entitlement is established, it is probable that the amount will be received, and the amount receivable can be estimated with sufficient accuracy.

Income from grants is recognised in the year in which they are receivable. Grants without performance conditions are presented within donations and legacies and within charitable activities when performance criteria apply.

Income from government grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Where no conditions are attached to the grant income they are recognised within donations and legacies and where conditions relating to performance of services are attached, grant income is recognised in income from charitable activities within the Statement of Financial Activities.

Income from other trading activities includes income relating to fundraising and is included in the Statement of Financial Activities when receivable.

Income from the shops are recognised at the point of sale. Goods donated for resale are included as trading income when sold. The value of services provided by volunteers has not been provided.

Income from investments constitutes dividends and bank interest and is recognised in the year to which it relates to.

1.3

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 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.

The charity’s operating costs include rehoming and welfare costs, shop and other trading expenses and expenditure on publicity and fundraising. These are allocated to ‘costs of raising funds’ and ‘expenditure on charitable activities’ in the statement of financial activities as appropriate. Indirect support costs and governance costs are included under charitable activity expenditure.

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:

Rehoming Centre building 25 years straight line Shed, pens and fencing 5 years straight line Shop fittings and equipment 5 years straight line Other furniture and equipment 5 years straight line Motor vehicles 3 years straight line

Tangible fixed assets for use by the charity are capitalised where the cost is greater than £100 and their expected useful life exceeds one year.

1.5 Investments

Investments are recognised initially at fair value which is normally the transaction price (excluding transaction costs). Subsequently, investments are held at market value, with all realised and unrealised gains and losses passing through the Statement of Financial Activities.

1.6 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stock is calculated on a first in, first out basis.

In line with the charities SORP FRS 102, it is considered that the costs of valuation of goods donated for resale outweighs the benefits to users of the financial statements and therefore donated goods are recognised when sold.

1.7 Debtors

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

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9 Creditors

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

1.10 Taxation

As a registered charity, the company is exempt from corporation tax and capital gains tax, but not Value Added Tax. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.11 Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease. The charity has operating leases for the premises in which they operate their shops. The title of the leased premises remains with the lessor.

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

1.12 Fund accounting

Funds held by the charitable company are one of the following types:-

1.13 Pension

The Charity operates a defined contribution pension scheme. Contributions are expensed as they become payable.

1.14 Services in kind

On receipt, services in kind are recognised on the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services of equivalent benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.15 Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 15. Investment portfolios are basic financial instruments measured at fair value through the income and expenditure account. Prepayments are not financial instruments.

Cash at bank - is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 15. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

----- Start of picture text -----
2 Donations and legacies
Unrest- Restrict- Total Unrest- Restrict- Total
ricted ed 2023 ricted ed 2022
£ £ £ £ £ £
- -
Legacies, bequests and funeral donations 9,568 9,568 2,182 2,182
National RSPCA door to door 23,094 - 23,094 23,218 - 23,218
National RSPCA neutering grants,
- -
donations and pet insurance 3,119 3,119 4,171 4,171
National RSPCA members subscriptions 432 - 432 378 - 378
- -
Rehoming donations 10,365 10,365 5,758 5,758
Collections and general donations
- -
(incl Gift Aid) 23,600 23,600 22,973 22,973
Kingston Maurward contribution
- -
towards Centre running costs 9,959 9,959 6,750 6,750
- -
Taylors Friends 4,799 4,799 4,635 4,635
Exceptional government funding
SSP Grants - - - 212 - 212
Total 70,178 14,758 84,936 58,892 11,385 70,277
----- End of picture text -----*

The funding received from government grants in 2023 was £nil (2022 - £212 relating to Statutory Sick Pay).

*Denotes government grants

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

3 Trade incoming and expenditure

----- Start of picture text -----
Charity Other Charity Other
Shops Trading 2023 shops trading 2022
£ £ £ £ £ £
- -
Turnover from donated goods sold 170,730 170,730 178,236 178,236
Turnover from purchased goods sold 21,666 6,615 28,281 24,291 3,783 28,074
Turnover from boarding at Taylors - 895 895 - 2,233 2,233
Total trading Income 192,396 7,510 199,906 202,527 6,016 208,543
Cost of goods sold 13,491 2,732 16,223 12,276 3,490 15,766
- -
Shop wages 57,871 57,871 67,960 67,960
- -
Shop rent 41,265 41,265 42,500 42,500
- -
Shop running costs 16,413 16,413 27,272 27,272
Depreciation of shop fixtures & equipment 659 - 659 2,575 - 2,575
Total trading expenditure 129,699 2,732 132,431 152,583 3,490 156,073
Net trading income 62,697 4,778 67,475 49,944 2,526 52,470
----- End of picture text -----

All income and expenditure is unrestricted (2022: all unrestricted).

4 Investment income and interest

Dividends & interest on Unrest-
ricted
£		 Restrict-
ed
£		 Total
2023
£		 Unrest-
ricted
£		 Restrict-
Total
ed
2022
£
£
UK listed investments
Interest on UK cash deposits
Total		 7,081
3,383		 -
-		 7,081
3,383		 6,623
3,404		 -
6,623
-
3,404
-
10,027
10,464 - 10,464 10,027

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

5 Expenditure on charitable activities

----- Start of picture text -----
Unrest- Restrict- Total Unrest- Restrict- Total
ricted ed 2023 ricted ed 2022
£ £ £ £ £ £
Direct costs
-
Wages 100,960 100,960 26,069 68,865 94,934
Food and litter 30,680 - 30,680 - 27,607 27,607
Vet fees 30,209 - 30,209 1,099 27,606 28,705
- - - - - -
Neutering
-
Centre running costs 1,072 14,758 15,830 11,383 11,383
- -
Motor expenses 2,563 2,563 2,225 2,225
- -
Depreciation of Rehoming Centre building 12,794 12,794 12,794 12,794
- -
Depreciation of shed and pens 5,053 5,053 4,985 4,985
Total direct costs 170,537 27,552 198,089 34,378 148,255 182,633
Support costs
- -
Office and miscellaneous expenses 1,884 1,884 2,799 2,799
- -
Printing, postage and AGM 2,619 2,619 2,140 2,140
Insurance 1,905 - 1,905 2,050 - 2,050
- -
Legal and professional fees 10,356 10,356 7,166 7,166
RSPCA HQ Quota payment 551 - 551 551 - 551
Depreciation of computer and
other equipment 47 - 47 706 - 706
- -
Independent examiners remuneration 1,000 1,000 1,000 1,000
- -
Accountancy 7,883 7,883 3,449 3,449
- -
Total support costs 26,245 26,245 19,861 19,861
Total 196,782 27,552 224,334 54,239 148,255 202,494
----- End of picture text -----

6 Trustee expenses and related party transactions

Trustees received no remuneration in either the current or the prior year for their work as trustees.

During the year the Branch received door to door grant income from the RSPCA national society of £23,094 (2022: £23,218) and neutering grants, insurance, donations, vets bills and subscriptions of £3,551 (2022: £4,549). In addition, purchases of goods for resale, food and other items amounting to £28,399 (2022: £27,607) were made by the Branch from RSPCA trading. The Branch also made an RSPCA HQ Quota payment of £551 (2022: £551).

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

7 Employees

Employment costs

----- Start of picture text -----
2023 2022
£ £
Wages and salaries 155,314 155,231
Social security costs 1,946 1,396
Pension costs -defined contributions 1,571 1,450
-
Redundancy 4,817
158,831 162,894
----- End of picture text -----

During the prior year, costs totalling £4,817 were paid to three individuals in respect of redundancy. The amounts were full and final, and no amounts were accrued at the balance sheet date.

The average monthly head count was 13 staff (2022: 15 staff).

No employee received remuneration of more than £60,000 in the period (2022: none).

Key management personnel

The key management personnel of the charity are considered to be the shop and animal centre managers. The total costs to the charity of employee benefits (including employer national insurance and employer pension) for the key management personnel were £41,547 (2021: £49,100).

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension costs charge for the year represents contributions payable by the company to the scheme. Contributions totalling £277 (2022: £352) were payable to the scheme at the end of the year and are included in creditors.

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

8 Tangible fixed assets

----- Start of picture text -----
Rehoming Shed, Shop Other
Centre pens & Fittings & furniture & Motor
buildings fencing Equipment equipment Vehicles Total
£ £ £ £ £ £
Cost
At 1 January 2023 319,846 57,163 45,400 15,667 10,601 448,677
Additions - - - - -
At 31 December 2023 319,846 57,163 45,400 15,667 10,601 448,677
Depreciation
At 1 January 2023 234,634 51,177 43,993 14,914 10,601 355,319
Charge for the year 12,794 5,053 469 706 - 19,022
At 31 December 2023 247,428 56,230 44,462 15,620 10,601 374,341
Net book value
At 31 December 2023 72,418 933 938 47 - 74,336
At 31 December 2022 85,212 5,986 1,407 753 - 93,358
----- End of picture text -----

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

9 Fixed asset investments

Listed shares & funds 2023
2022
£
£
-
315,071
Cash held by investment manager -
101,219
Listed Shares
Market value
At 1 January 2023
Additions
Disposals
Realised loss on disposals of investments
Unrealised gains / (losses) on revaluation
Interest & dividends received
Management fees
At 31 December 2023
Historical cost
At 1 January 2023
Additions
Disposals
Other movements		 -
416,290
2023
2022
£
£
416,290
473,218
422,156
(399,287)
(422,156)
(17,003)
(51,062)
-
(7,519)
-
2,118
-
(465)
-
416,290
£
£
450,000
450,000
-
422,156
(450,000)
(422,156)
-
At 31 December 2023 -
450,000
10
Debtors
Other debtors
Prepayments
Accrued income		 2023
2022
£
£
3,441
16,233
9,867
7,117
-
1,084
13,308
24,434

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

11 Creditors: Amounts falling due within one year

----- Start of picture text -----
2023 2022
£ £
Accruals 5,813 5,625
Other creditors 11,126 10,418
Taxation and social security 1,936 1,158
18,875 17,201
12 Summary of movement in funds
Opening Closing
Balance Transfers & Balance
1 Jan 2023 Income Expenditure gains/(losses) 31 Dec 2023
£ £ £ £ £
Restricted funds
- -
Taylor's Rehoming Centre 85,212 (12,794) 72,418
- - -
Friends of Taylor's 4,799 (4,799)
- - -
Kingston Maurward 9,959 (9,959)
Total restricted funds 85,212 14,758 (27,552) - 72,418
Unrestricted funds
General fund 177,108 286,626 (332,511) 399,287 530,510
- - -
Designated fund 416,290 (416,290)
Total unrestricted funds 593,398 286,626 (332,511) (17,003) 530,510
Total funds 678,610 301,384 (360,063) (17,003) 602,928
----- End of picture text -----

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RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

Summary of movement in funds- 2022

----- Start of picture text -----
Opening Closing
Balance Transfers & Balance
1 Jan 2022 Income Expenditure gains/(losses) 31 Dec 2022
£ £ £ £ £
Restricted funds
- -
Taylor's Rehoming Centre 98,006 (12,794) 85,212
- -
Friends of Taylor's 15,080 4,635 (19,715)
- -
Kingston Maurward 22,773 6,750 (29,523)
- - -
Janice Ashman Legacy 4,365 (4,365)
- - -
Margaret Freeman Legacy 30,336 (30,336)
- - -
Rosaile Joyce Ward Legacy 51,522 (51,522)
Total restricted funds 222,082 11,385 (148,255) - 85,212
Unrestricted funds
General fund 106,835 282,703 (210,777) (1,653) 177,108
- -
Designated fund 473,218 (56,928) 416,290
Total unrestricted funds 580,053 282,703 (210,777) (58,581) 593,398
Total funds 802,135 294,088 (359,032) (58,581) 678,610
----- End of picture text -----

General funds represents ‘free’ reserves after allowing for all designated funds.

The designated fund represented the value of the investments held. As these were sold during the year, the amount has been transferred out to unrestricted funds.

Restricted funds comprise monies donated for a specific project or purpose and represent monies received for:

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Page 23

RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

13 Analysis of assets between funds

----- Start of picture text -----
2023
Unrestricted Designated Restricted Total
funds funds funds funds
£ £ £ £
-
Tangible assets 1,918 72,418 74,336
Investments - - - -
Current assets 547,467 - - 547,467
Current liabilities (18,875) - - (18,875)
-
530,510 72,418 602,928
----- End of picture text -----

Analysis of assets between funds- 2022

----- Start of picture text -----
2022
Unrestricted Designated Restricted Total
funds funds funds funds
£ £ £ £
-
Tangible assets 8,146 85,212 93,358
Investments - 416,290 - 416,290
Current assets 186,163 - - 186,163
Current liabilities (17,201) - - (17,201)
177,108 416,290 85,212 678,610
----- End of picture text -----

14 Financial commitments

At 31 December 2023 the charity was committed to making the following payments under noncancellable operating leases:

Operating leases which expire:
Premises:
Within one year
2-5 years
In more than five years		 2023
£
44,501
167,162
101,253
312,916		 2022
£
26,701
66,004
24,753
117,458

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Page 24

RSPCA West Dorset Branch Notes to the Financial Statements For the Year Ended 31 December 2023

15 Financial instruments

Financial assets measured at fair value through
the income and expenditure account		 Financial assets measured at fair value through
the income and expenditure account		 Financial assets measured at fair value through
the income and expenditure account		 2023
2022
£
£
-
416,290
Financial assets that are debt instruments measured at
amortised cost		 530,457
159,444
530,457
575,734
Financial liabilities measured at amortised cost 16,662
15,691
2023 Income
£		 16,662
15,691
Expense
Net gains Net losses
£
£
£
Financial assets measured at fair 7,081 3,223 -
17,003
value through the income
and expenditure account
Financial assets measured at - - -
-
amortised cost
Financial liabilities measured at - - -
-
amortised cost
2022		 7,081 3,223 -
17,003
Financial assets measured at fair 6,623 465 -
58,581
value through the income
and expenditure account
Financial assets measured at
amortised cost
Financial liabilities measured at
amortised cost		 -
-
6,623		 -
-
465		 -
-
-
-
-
58,581

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Page 25