Charity rcgistr*ioti number.. 255763 Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Branch Annual Rep)rt and Financial Ststements for the Year Ended 31 D¢c¢mber 2024 Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Branch Cotttents (continued) Refcr¢n¢e and Adminisuative Details Tntsiees. R¢pon 2107 Indep¢nd¢nt Examinerf5 Report Stsimeni of Financial Activities 9tolO B￿ance Sheet Notes to the FLnan¢Lal Ststements 12to28 Royal Society for the Pr¢velltion of Cruelty to Animals Nottingham and Notts Brallch Reference and Administratiie Detgils Trustees Mrs L Cook Tr¢45ufcT Miss K Grinrod Chair Ms E Ball Committec frs L Ellis Commiitee Chsrity Reglstr#flon Yi umber 255763 Prineipll Offi¢¢ The K¢mp McAdam Buildin8 7 Farrinyon Way EasTh¥ood Noryingham NG16JAG Lloyds TSB Bank plc Old Nlarkei SquaT¢ Nottin8ham NGI 6FD BAnk¢rs Independeni Ex4mltser N W Bonnello RII'B CA Limited Northgatc House North Glie Ntw Basford Noningham NG7 7BQ Brewn Dolphin 1st Floor WBierfront House Wat¢rfroni Pla72 33 Siaiion Sw¢¢i Nottingham NG2 3DQ One Fow Nine W¢3lth Ltd (Previously HFL Fith8n¢ial Advisets Ltd) 6 GeoT8C Strtti Nottingham NGI 3BE InV￿tment Advisors Inv¢stmeni Advlsors Page I Royal Society for the Prevention of Cruelty to AnimaL% Nottingham and Notts Branch Trustees, Report Th¢ tn]stees present the annual report together with th¢ financial mtements of the Charity for the year ¢Dded 31 December 2024. Objectives and *ctivitieJ Objects t7nd ¢Tin In setting objectives and plantsing for activities, th¢ Trnsiee5 have givert due consideration to general guidance published by the Charity Commission relating to public benefit. In particular, the Tr￿￿tte5 consider how planned actiVLties will contribute to the aim a¢)d objective5 they hve set. The Charity w85 ¢5thblished with ihc aim of providing temporary refijge for homeless animals. Animals of a domestic natrjre are offered for adoption 10 Sultable membets of the public. The Charity also Ca￿ s for wild animals when necessary. and these animals are rele&sed into a suitsble envÉronm¢nt as soon as p05si6le. If necessary. the Charity aTrng¢s the humane death of seriously injur¢d or sick anima15 by qualifjed personnel. No animal OT bird Én need is ever turned away where ¢b¢y can be &$5ured of ¢lean, well maintained accommodation. will be w¢ll fed, will be providcd with veterinary care and where they will be well looked after by dedicated staff. It is the Charity's aim w pn)mote kinthiess oTh1 prevent cN¢lty ￿ anirnais. Anima15 are pla¢¢d in the care of th¢ Charsty by the public, police, local authorities and by the Sociery's inspector5. Focu5 l5 pla¢ed on supporting the So¢iery's In5pecwYa¢e in the Nottingham area. Publi¢ beméfit The trustee5 confim that they have complied with the requIr￿￿ents of section 17 of the Chdriiies Act 201110 have due rewd to the public benefit gUid￿re published by the ChaTity" Commission for England and Wales. A¢bi¢vements and perfoTmats¢¢ The Brdnch is active in all ￿pec1S of animal welfare. dealing with 225 animals during 2024 12023.. 246 anim￿$}. At busy times during the year. Ét is necessary ￿ use private boarding facilitie5 prior to fJndin8 availabl¢ RSPCA accommodation. Th¢ Branch is 8rnt¢ful to ACS Premier Pets who primarily provide this private i¥)arding at a competitive rate and who are responsive to the Brdnch's on-going needs, a5 well as the Radcliffe Animal Shelter for their collabomive approa¢h io enabling anima15 brO￿ght in io Brarkch cate ￿ be rehomed. This is fjnanced by ihe Branch ￿ boarding bills and veterinary. treatments ore a Branch responsibility, and together these overhead5 fomi a lar8e part of th¢ atmual animal welfare ¢xpeThditure. Branch ¢ontinues to support Radcliffe AThimal Shelier with 2 SL8nificant annuai contribution. 12J animals were neuiered with the aid of the Branch during 2024 12023.. 135 neutetsl. Over many years we have run an ￿sISted neutering service and, tveTh thovgh numbers are still low¢r than pre-pand¢mi¢ years12019.. 273 neurers). we still believe it 1$ imwjrtant that we ¢ontinu¢ w carry on this valuable ¢ampai8n into 2025 and beyond. The Charity are proud to be in a posiiion to be able to supp)rt other charities and as such contÉnues to work closely wilh Radcliffe Animal Shelter, contributing over £60.334 in 2024, with the aim to coniinue providing support in fuwicial donations. Additionally, RSPCA Elst Winch Branch assisted with £i5.000 to enable suitable ventilaiion to be fitted to aviaries and the holding roorn, Ls well as new fox #nd hedgehog enc105UTes. RSPCA Stapeley Grange Wildlife Centre & Cattery were also aidd in 2024 wilh £12.(KJO ￿ sup]x)rt various equiprnerLt purchases including avian flu build5. Yet￿llary, ¢att¢ry & hospital items, as well as general maintetwi¢e and Communications. The Charity ¢on¢inues io investigate the potential to Thtsrk with other t￿n-RPsCA organisations for the promotion of anima] welfare in Nottin8ham. Page 2 Royal Society for the Prevention of Cruelty lo Animals Nottingham 8Dd Notts Brnnch Tru5tees' Report (continued) At year end, the Charity held £681,119 in non-cash invesllD¢nts (fixed asset investsnents). Our investment portfolio produ¢¢d a gain of £35.724, which as per previous years. was reinv¢st¢d within the portfolko. The Tn]stees have maintsind their robwt investment str*egy and continuc to manage the Charity's fund5 and investments with the support of OThe Four Nine Wealth Ltd. our invesknent cash deposit s¢rat¢gy advi5er5. and Brewin Dolphin who aei &$ our investment fund managets. Our invesirnenl Strntegy Considers OUT long-tcrm ntedg aniiude to risk and OUT ethi¢al requiremeThts. Because Ihe Charity still trade5 ai a loss. ond io ensure Ix>th long i¢m) survival and future development, we need to mainiain suificieni funds to cover this deficit and take st¢P5 to proie¢t our reserves [refe￿¢d to as'fiwds" in the accowits) from the effects of inflation. Our inv¢sm)ent risk profile is besi described ￿ "cautlOUS Wlth som¢ risk" We tak¢ a moderate approarh its risk and invest in well-kno1￿. r¢putsbl¢ and ethical itL5titutions. Approximately 140/0 of our fixed ￿et inve5tm¢nts are held in bonds is5u¢d by th¢ [￿j government. major banks and financial in5titulions. Our ethical stance means we avoid investing in iLstitutiong whose a¢tivities may involve the use of animals for tesiing products. or Ca￿ harm to animals. The Charity aim5 to invest 75Q/• of our fund5 in long t¢rni fill￿5, and keep 25°h in ¢ath. We have a strategy foT our cash investments wh¢r¢by wc m&ximise the intere% rthjrn we c4n Tnake by Inve￿ing in differerht temi bonds and ac¢ounis of up to two yeaTS. The ush balances are held across different banking insiituiions ro minimise the risk which a further banking crisis may pose w th¢ BrdTKh. FinAncial review Th¢ S¢atem¢tst of Financhal Activities for the year 15 Set out page 9 of the fitwKia] statements. A summary of the finan¢ial results and the Work of th¢ Clwity is set out below. Income from donations and gifts received during the year ¥nK)unted 10 £90,141 in comparison 10 £245,029 receiv¢d durin8 2023. The Chariry's fmanC1￿ s¢aiem¢nis for the year include legacy incom¢ of £48,554 receivable during 2024 compar¢d to £191.817 r￿tIVed durin8 2023. M¢mbershkp income was £487 in 2024 compared LO £373 received in the year 2023. Retail iTh¢ome was £82,285 compared to ￿1.447 in 2023, an incre&se largely du¢ UJ the success of the ¢Commer¢e revenue Stream. Other than people costs. direci Charitsble expenditure in relation to the TeC¢Ption, boaTding and ¢are of animals ¢onlinu¢s io absorb a large share of the Charity'5 ¢xp¢nditLLre. These c05t5 equated to £443,418 ihis year. compared to £382,455 ITh 2023. It Is recogTh15ed natioDally that fundrdising trends have ¢hanged over the f¢w years and the Chority h&s worked to adapt its approach to income generation. IlThilsi the reiail chariry shop at Eastwood has a strong and esiablished set of volunteers. there 15 StLII a need to i¢¢ruit mote ¢0 help ￿7th the day io day running of the charitL¢S. During the year the Branch hcad office cat adoption area and ecommerce bu5ine55 have flourished. Additionally, throughout the year. the Charity nms several promotional fundraising campaigns as w¢ll as initia¢ives to boost the uptake of neutering vouchers. Pagc 3 Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Branch Trustees, Report (continued) Pay policy for senior staff The Branch manag¢r is the only senior staff employ¢d by the Charity. Her ¢QTnpensarion package is r¢w¢wed on an annual basis by the Trustees. Ptnsions The workplace ￿￿5*0￿ was introduced in 2016 as a government requlrernent. Ptsllry on rese￿eS The Trus(ee5 have r¢wew¢d the reserves of the Chartry. This review encotnpassed the nature of the income and expenditure streams. the need to match variable incotne Mith fixed eommilrnents atsd the nature of the resetves. The Charitys genera] reserve remains strong and wcll-fimded. Throughout 2023, the Chariry's re5ervcs poli¢y continued tts two-fold objective.. (al To Set aside suificient contingency funds fo ¢over unforeseen rrises or extended periods tsf finattcial setback. (This ¢over is based on 12 rnonths operaiing costs with £420.000 rin8-fenced for thi5 purpos¢}", Ibl To enable th¢ ltsng-term survival arKi future development of the Charity 50 that it may achieve the Society's objeciives in an enduring and effe£tive matLn¢r. ThLS rx)licy will be reviewed during 2025 against the ba¢kwund of economic rlwhges which accompanied the continued unrest in rhum¢rous Col￿trieS aer055 the ￿orld, and si8nifLcant r￿UCtIOnS in legacy incorne in re¢¢ni years. The board continu¢$ to believe that the Charity faces a fijture which is likely to be chardcterised by fewer and lower value legacies than in the past. Our approach will th¢r¢fore continue to be ¢aviious and based on a r¢alisti¢ ouilwk for the firture. but Tt slK*uld also be pointed out that the Charity'5 ciirreiit tots] r¢serves remain strong. The Trustees recognise that they should expend an appropriate proportion of available fund5 on the Soeietys ch￿itable objectives wiihiTh a re&wnabl¢ period of lime. Hoiveyer, aThy process Mthich involves i signifi¢anL depletion of reserves must be handled carefully and gradllally. The investment funds we hold produce much needed income wllich helps ￿ fvnd our animal care operaiiot)s and limit the size of our operaiional deficil. Page 4 Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Branch Trustees, Report (continued) Plans for future periods Aims ondkey objeclive5forl4fvreperrod% Main Goals.. • Continued investtneni in on¢ or Tnore animal welfare PToj¢cts The charity wÉll continue to work with the Inspectorate and other RSPCA Branches w Inve￿ in animal welfare projects. Whether thi5 be buyit)8 equipmeni for the Inspectorat¢ or continued fvnding suppon for other Branches. Following on from achieving our commitsneni io investing tnor¢ knto the Radcliffe Animal Sh¢lt¢r, we will continue ￿ suppon thtm financially. The ¥enovations we helped fwid in prior year5 have b¢n¢fKted the local area in krtns of animal wclfare. public ¢du¢ation and v￿Crin￿ry training. We look fonvard ￿ coniinuing to provide help to similar projects in 2025. EsrablishiDg a sthble source of income The charity will ctsntinu¢ ￿ hold fiuKlraising ¢v¢nts throughout the yw, and we will consider how these can be run with other charitLes. Our dedicated staff atjd voluThteeTS ai b)th the Branch. our Eastwood charitv shop and our ¢Commerce store have endle551y found ¢reaiive way5 to Continue to raise funds for th¢ Branch through ch311¢ngirtg and uncertain times. This Steady in¢tsme s(ream 15 particularly important in the backdrop of de¢reasing fundrai5irhg opportuniiies in the wder m8rk¢i. The Chariry will continue io work with the ITLspe£toraie and other RSPCA Bran¢h¢s to invest in animal welfare projects. Going conttrn Aft¢r making appropriate eihiukri¢s, the Trustees have a It￿nable expectstion that the Charity has adequate resources to continue in operdtional exisienc¢ for the foreseeable fimire. For this reason. they ¢ontinue to adopi the 80ing concern basis in preparing the financial wiements. Further detsi15 regarding the adoption of th¢ going concern basis can be fowid in the A￿OuntIng Policies. The Charity htslds a si8nifLcant amount of investmenty the￿for4 should the need arise, the Charity has the option to sell the investments held whi¢h support ihe Charitys ongoing operntion. Page 5 Royal Society for the Prevention of Cruelty lo ADim2ls Nottingham and Notts Branch Trustees, Report (continued) Trustees attd offieers Th¢ tru#¢es and otTicers serving during the year and since th¢ y¢ar end wtre as follow5.' Trusttts: L Cwk Trwurer Miss K Grinrod Chair Ms E Ball Cornmittee Mrs L Ellhs Committe¢ Mrs M Twardawa Committee Struetiirej gov¢rnante And managethent Nature ofgoverning document Th¢ PTin¢ipal object of the Charity i$ to use the frethold property for the reception, boardirt& atld adoption of. unwanted, losi. starvin8. injured or dIse￿d animals. for the promotion of kindness. and prevention or suppression of cruelty io animals. The Charity is governed under the RSPCA Rules for Br2nches 7 October 2023. The Charity is cotlstituted under the Royal Society for th¢ Prevention of Cruelty to Animals Acts of 1932. 1940 dnd 1958. Recruitheni And4pp￿AlMeThr oftru51ee5 The Charity is adtnini5tered by the Trustees. Tntsttts retire at eath annua] g¢n¢rnl meeting and can offer themselves up for re-election. Induction oftrustees Tnjstees are )nteNeW￿ by officers of the Brdnch and are given an induction pack detailing the RSPCA Branch Tules and objectives. Further trdining is available on request from th¢ Branch Partnership Manager. org¢Tnl5￿1oI{￿l$fftIcthre The Rules of the Society cottfer upon the Council poThrr to supetvise and control the management and affdirs of Branches. The Branch is controlled by elected Executive Officeis and Committee .Members. The Executive Officers are ele¢ted b>. the Branch Committee. During the year. the Trust¢es eonstsnily review their Composition and eff¢¢tiveness in order to provid¢ the best ser¥ice5 to the rhan"ty. Tr￿lee5 of the full board meet at le&st once every two months. Day to day administration of the BraThch 15 delegated to Jo Maddocl Brdn¢h Manager. Employee5 are consulied on issues of concern to them by means of regular stsff m¢eiings a[￿ are kept Infomied on specific m3tt¢rs directly by the managem¢nL The Chariry believe5 that $tsff traLnitsg is vÉtal to animal welf2re work. and staff have embarked on cours¢s irt pratlical skills of a wmprehensive n￿￿re. The Charity L5 grateful for the unstiThiin8 efforts of volunieeTS. It is impossible to estimate the enormou5 ￿noUn1 of time devoted, arhd value provided. by volunteeTS ￿lthOU1 wljom the Charity would be unable io run ir5 organisation so ¢ff¢etively and help so many anim￿5 in need. We are equally gratefiLI for the hard WOTk, devotion to duty and long hours given by the Branch manager and stsff in nmning the Charity so well and %%ith so much commitment in the eause of animal welfar¢- especially with the un¢eMainty around the changes to the RSPCA iThspxioraie fra[ne￿rk s¢en this year. Page 6 Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Brgnch Trustees, Report (continued) M4jor tisks ondmanugemeni ofthose risks Risk mafr7agemenl The Trustees have &sses5ed thc major risks w %thi¢h th¢ Charity is exposed. in particular those relaie41 to the operations and finaD¢cs of thc Charity. and saiisfied that Systems and pwocedur¢s are in place to mitigate our cxposure to major risks. As per PT¢ViOUS years. lh¢ Charity has adopied a low ￿ mediurn risk return policy on its investment portfolio and this is reviewed every 6 months wilh our advi50TS. Th¢ investments arc mwthged by Br¢win Dolphin on the basis of the regulations detailed in the RSPCA Ad 1958 and the TTUSttts have given the inve51meTht managers discreiion io mana8c the portfolio within th¢ approved risk profile. The Trusiees also benefit from the 5ervi¢e$ of 1ndH￿rtd¢nt fhnancial advisers. One Four Nine Wealth Lid {previou51y HFL Financial Advis¢rs Ltd due to acquisiiionl, ov¢rstt and Provide advice on the Charity's investtnenl wrtfolio ¥nd ¢ash dep)sits. St*l¢m¢nt of Trustees, Responslbllliits The Iru$lee$ hr¢ T¢spon$ibl¢ for Preparing the trusiees. ￿pOrt Ind the financial statements in ￿COrd8nce with the Ufiiied Kingdom Accounting Standards (unli￿ Kingdom Generdlly A¢cep¢ed AttouThiing Praciicel and applicable law and regularions. Th¢ law applicable ￿ ¢harities requires the trustees ￿ prepare financial sthtements for C￿h finJn¢ial year which give o inle dnd fair view of ihe stst¢ of affair5 of Ihe Charity and of the Incomin￿ TCSOUTECS and appli¢aiion of rewur¢e$ of the Charity foi thai period. In preparin8 thcsc financial S￿¢¢M¢nts. the trustees are required ty.. select suitable a¢couniin8 policies and th¢n apply th¢m ¢onshsten¢Jy- observe rhe m¢ihods and prirtciples in the Ch￿lieS SORP- mak¢ judgemcnts and ¢siimai¢s thal are rea50nabl¢ and p￿dent. state wheiher appli¢abl¢ ¥couniin8 stsndards have been followed, subj¢¢t w any material departures disc105¢d and explained in ihe fina￿la[ 5tatemcnts: ond preparc thc financial stsiements on the going ￿ncern basis uttless li is inappropriaie ¢0 p￿sum¢ thai the Charity will coniinue in bu5ine$5. Thc trustees we r¢sponsibl¢ for keepirtg proper aceouniing Te¢oTds tho1 disc105e wilh reasonable a¢¢ur2¢y ai any time the finon¢ial position of ihe Chariry aThd enable ihem to ensur¢ thai the financial 51at¢meni$ wmply with Ihe Charities Aei 2011. the Chariiies IAccounis and Rcportsi R¢8ulaiion5 2008. and the provisions of ihe constitution. The (ruslees also rcswnsible for safe8uarding the assets of the Charity arhd h¢n¢e for t¥kin8 rea50nablc steps for th¢ prevention and dd¢¢¢ion of fraud and oth¢r irr¢gulariiies. The I￿sIteS are r¢sponsiblc for the mainienanc¢ and inte8rily" of ih¢ wrporate and financial inforniaiion included on ihe ¢haritable company's website. Ixgislaiion goveming the pr¢par&tion and disseminaiion of fLnan¢ial staiemenis moy differ from legisl*ion in oth¢r jurisdictions. The annual T¢POrt w&% approv¢d by th¢ thtyttts of the Charilv nn 21 June 202$ and signcd on its behalf by.. Mrs L Cook Treasurer TnLStee MI￿ K Grinrod Chair Trusiee Pa8e 7 Royal Society for the PreveDtion of Cruelty to Animals Nottingham 2nd Notts Branch Independent Examiner's Report to the trustees of Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Branch I rcport to the tNstees on my examination of the a¢￿￿nts of Royal Society for the Prevention of Cruelty io Animals Nottin8ham and Notts Bran¢h for the year ended 31 December 2024. Respon$ibiliiies •nd bas￿ of report As the Charity tn15tc¢s of Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Branch you are responsible for the pr¢paTation of the accounts in a¢cordance the requiTements of the Charities Act 2011 {'the Act'l. I report in respect of my examination of the Royal Society for the Prevention of Crueltv io Animals N'ottingham and Notts Branch's accounts ¢arried out under scdion 145 of ihe 2011 Act in carrying out my examination I hav¢ followed all the applicabl¢ Dire¢tions given by the Clwity CommissioTh under 9e¢tion 14515Kbl of th¢ A¢t. Independent ex*miner s st*tem¢nt I have completed my examin*ion. I cotlfirn that no material matters have come to my attention in conneciion with the examination giving me cause io klieve that in any m*erial respect: accounting records were no¢ kept in respcct of Royal Society for the Prevention of Cruelty to Animais Nottingham and Notts Brdnch as r¢quired by se£tioTh 130 of the ACL OT 2. the occounts do not accord with those records. or 3. the accounts do no¢ comply the accounting requirements concerning th¢ fomi and content of a¢¢owits set out in the Clwities {Accounts ar￿ Reports) Regulations 2008 other than any requirement that the accounts give a 'knLe and fair which is not a maller ¢onsid¢r¢d as part of an independent exam1T￿loft. I h*ve no ¢on¢¢rns and have come across Th) other matters in connection with the examination to which attention should be drn*n in this r¢port in order to eThable a proper understanding of th¢ accounts to be reached. N W Bonnello RWB CA Limiied The Institute of Chart¢r¢d Account3[￿ of England and Wales Northgate House North Gate New Basford Nollingham NG7 7BQ 23 Jwie 2025 Pag¢ 8 Royal Society for the Prevention of Cruelty to AnimaL8 Nottingham and Notts Branch Statement of Finan¢io1 Activities for the Year Ended 31 December 2024 Uthresirlcted funds Restricted funds Tot*1 2024 Noit Income And Endowmtnts froth: Donations and lebjacies Other trnding activiiies InvestTnent ￿n￿me 78,851 82.858 30.327 11.29) 90.141 82.858 30.327 Total in¢om¢ 192.036 11.290 203.326 Exptndlturt on: Raisin¥ fuiids Charitable activities {8.419) 423.7091 18.419) 434,9991 11.290 Toial exp¢ndi¢ure Gainsllosses on investment assets 1432.1281 35.274 (11,2901 (441,4181 35.274 Net expendirure Nei mowement in ￿ndS 1204.8181 204.8181 (204.5181 {204.8181 Reeon¢ili81ion of fynds Toial funds brought forward 1,369.956 1,369,956 Toial funds Ca￿lEd fonwd 21 .165.138 1.165,138 The t￿teS on pages 12 ￿ 28 fonn an iThtcy#] part of thes¢ flnancial 5tatemcnts. Page 9 Royal Society for the Prevention of Cruelty to Animals Nottingham attd Notts Brallch Statement of Financial Activi¢ies for the Year Ended 31 December 2024 {eoDtinued) UnTe5tricted fund5 Restricted funiL¥ Tot*1 2023 Note Incorne and Endowmertts from: Donation5 and legacies Other trdding activities Investment in¢om¢ 214.911 51.820 29.032 30,118 245.029 51,820 29,032 Total income 295,763 30.118 325.881 Exptndltur¢ on: Raising funds Charitable activities 18,6451 343,6921 {8.645} 1373.8101 130.1181 Tothl expertditure Gains11055es ott investsnent assets (352,3371 35.707 (30,1181 (382,4551 35.707 Yet expenditure Other rtCOV115ed ylns lad Iosmy (hher 8ainsllos5es Nei movemeni in fvnds (20.8671 120.8671 3.6 3.600 {17,2671 {17.267) Reconciligtion of furtdj To¢81 funds broughi forward 1.387.223 1.387.223 Tothl funds ¢arri¢d forw8rd 21 1,369.956 1,369,956 All of the Charity's oaiviiies derive from continuing operations duritt8 the above tyvo periods. Th¢ funds breakdown for 2023 15 5hown in noie 21. Thc notes on pages 12 to 28 forni an integral part of these finan¢ial ststements. Pa8e 10 Royal Society for the Prevention of Cruelty to Animals Nottingham and Notts Branch (R¢gi5tration number: 255763) Balance Sheet &$ at 31 December 2024 21124 2023 Fixed a$stlS Tangible assets Inv¢5ttnen¢5 13 14 286,986 7?8.653 299,819 784,962 1,015,639 .084.781 Curr¢n¢ imets Sto¢ks D¢btors Cash ai bank and in hand 15 16 232 17,220 152.625 1.030 18.070 278,472 170.077 297.572 Creditors: AThouDts f*liitig due within one ye*r 18 120.5781 112,3971 Net ¢urr¢nt ass¢ts 149.499 285,175 Net assets 1,165.138 1,369.956 Funds of th¢ Clxarity: Unrestricted income funds Unrestricted funds 1.165.138 1.369,956 Total funds 21 1,165.138 1.369.956 The finan¢ia] stai¢ments on pa8es 9 to 28 were approved by th¢ tnLStees. and authoriscd for issue on 23 June 202.$ and signed on their behalf by.. Mrs L Cook Tre￿urer Trustee iss K Grinrod Chair Tn￿le¢ The notes on pages 12 to 28 fonn an integrnl part of thes¢ fLnan¢ial 51alements. Pagell Royal Soeiety for the Prevention of Crnelty to Animals NottiDghgm and Notts Branch Notes to the Financial Stgtements for the Year Ended 31 December 2024 l Aecounting polici StateJneDt of eompliarttt The fJno0¢ial statements have been prepared in a¢cordance with the second edition of the Charities Statetncnt of R¢¢omtnended Practice issued in Octob¢r 2019, the Financial Repx>rting StsndaTd appli¢ablc in th¢ United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial ststements have been prepared to give a'true al￿ fair, vic￿ and have departed from the Charities IA¢wunts and RekN)rts) Regulations 2008 only to the exieni required to provide a 'true ond fair view.. This departurc has involved following the Accountin8 and Rep)rtittg by Charities.. Staterncnt of Recommended Practice applicable lo chariiies preparing their accounts in a¢cordan¢e with the Financial Reporting Sw)dard applicable in the UK and Republic of Ireland issued in (kiober 2019. B#$i$ of prÈp#rxtio Royal Society for the Prevention of Cruelt). to Animals NTottingham and Notts Brdn¢h meets the definition of a public benefit entity under FRS 102. The accounts lfinan¢i21 statements) have been prepaTed under the historical C05t convention with items re¢ognised at cost or trartsa¢tion valu¢ unless otherwise stated in the rel¢vant TK)te(sl to these accounts. Going concerD The tntstees consider that there arc no material unc¢rt2inties aFKJut the Charity's ability to continue a going concern. Income 4nd endowments Voluntary income including donations, gifts, I¢wdcies and grdnts that provide wr¢ funding or are of a general nature is recogt)ised when the Charity has entitlement io the incorne, it is probable thai Lhe income will be received atld the amount can be measured with sufficient reliabiliiy. Do*o1101fftS tshdleguci¢s Donations and le8acies are recognised on a receivable b&sis when receipt is probable and the amount con b¢ reliably measured. Gifts in kin Gifts in kind donated for distribution ar¢ included * valuation and recognised as income when they are distribuied to the projects. Gifts donated foT resale are included as irKome when they ar¢ sold. Donated facilities are included at the value io the Charity where this can be quantified and a third party is b¢8ring the c05t. No amounts ￿¢ in¢lvded in the fmancial statcmcnts for servi¢es dot)aied by volunteers. GiJi Aid In￿me ￿ recov¢rabl¢ in relation to donations re￿Ived und¢r Gift Aid or deeds of rov¢natht is Ir¢ognLsed at th¢ time o(the dooation. JKvestmenl income Dividends are re¢ognised once the dividend been declarcd and notific•ion Iks been received of the di￿dend due. Page 12 Royal Society for tbe Prevention of Cruelty to Animab Nottingham Ydnd Notts Bran¢h Notes to the Financial Statements for the Year Ended 31 December 2024 {eontinued) Expendilure All expendiDJTe 15 recogni5cd once thert is a lega] or ¢onstnJciive obligation to that ¢xp¢ndilVT¢. li 1$ pr()babl¢ selllemeni is required and the amount can b¢ measured reliably. All cijsts are allocated tts the applicable exp¢ndiiur¢ h¢ading thai a88re8aie similar costs to that ca*gory. Where costs cannot be directly attributcd tts partieular headings they have bcen alloc31cd on a basis consisieni with th¢ use of r¢sourct5. Wlth centrnl staff cosis allo¢a¢ed on the basis of time 5peni. and dcpreciaiion chargcs allo¢ai¢d on lh¢ portlon of the asset's Use. Other supp)rt Costs are allo¢a*d bLs¢d on the spread of staff Costs. RtTi5ingfullds These are Costs incwred in attractinB voluntary iricome, the management of inv¢stments and those incutted in tradinx activities thai raise funds. Ch4ri14ble odlvllles Dire¢1 ¢harilable expcrmliture consists of boardin& ￿e￿Ment. 5payin8 and gener&] animal welfare cosis. asso¢iai¢d ¢siablishment costs. and wage costs rtlaiing io lh¢ caring of the animals. Fundraising costs are Ihos¢ in¢urred in seekin8 voluntary ￿ntrIbUll￿nS. Support cosis are those Incurred dirccily in 5UPPOrt tsf expendiiure on the objeeis of the Charity and include rtlevant salaries ond wa8es. Govcrnance costs are those incurred in ¢onne¢iion wilh administration of the Chuity and ¢omplianc¢ with wnstitutionDI ond Statutory requirements. Sypport ¢osts Support C051S include central fwi¢iions and have bcen allo￿ted io aciivity cost ute8ories on i basis consisieni wilh Ilic usc of rcsour¢es, for ey8mple. allwBtin8 property costs by floor are85, or per capita. staff costs by (he lime 5pcnt and other ¢osis by their ￿￿8¢. Governince cosls These include the costs attributsbl¢ to the Charity's compliance with wnstitutional and ststu￿ry requirements, includin8 audit. siraiegi¢ managemeni and wu5t¢e5 rneetin8s reimbursed expenses. T#x*tlo The Charity is con$id¢red w Pa￿ the tssts set out in Parwaph I S¢hedule 6 of the Financc Act 2010 and therefore it mee15 Ihe dcfinilion of o charitable Company for UK ¢orporaiion w purpose5. Accordingly, the Charity LS FK)tentially cxempl from 18uiion in respect of in¢ome or capiul goin5 received within ¢ategories ovcred by Chapter 3 Part I l of ihe Corpornion Tax Act 2010 or Se¢iion 250 of the Taxation of Chargeable Gains Ac¢ 1992, 10 the extent thai such it)com¢ or gains are applied exclusively w ¢haritable purposes. TAngible fixed 4ssets Individual fJx¢d &8sets costin8 £500.00 or more are initially recorded 8t co￿. DepreeiAtson *nd *mOrti￿110￿ Depreciation is provided on iaDgibl¢ fix¢d wets 50 &$ to write off the cost or vo]uatioTh Icss any estimated r¢sidual value. over their expeded useful ewnomi¢ life as follows.. Asset el*$$ Freehold property F4Jrniture and equipment Motor vehicles Depreciation mdhod •nd rate 20/0 per annum of cost 33% per annurn of cosi 33% w •nnwn ofcosi Pa8c 13 Royal Society for the PreventlOD of Cruelty to Animals Nottingham and Notts Branch Noles to the Finan¢ig1 Statements for tbe Year Ended 31 December 2024 (continued) Fixed #$set invutm¢uts Fixed ￿tt inve5tm¢nts, tsther than PTO8ramme r¢lat¢d irtvestments. are included at value at the bal3n¢e sheet date. Reaiised 8aitL% and I05￿S tsn Lnvesthents are ca]culat¢d as the difference betw¢eo sales Pr￿eedS and their mark# value at the start of the year, or their 5ubsequ¢nt COSL and are char8ed or ¢r¢dit¢d io the Statement of Finan¢iai A¢tivities in the period of disposal- Unreali5ed gains atsd losses represent the movement in market valves during the year and att credited or harged to the Statement of FinarKial Activities b￿d on the matk¢¢ volue ai the year end. Stock Stock 15 valued at the lower of cost and estimated selling price less costs to ¢ompleie and Sell. after due re for obsolete and slow moving swcks. Cost i5 detemiined ￿]￿% the fir51-in. firs¢*OUt IFIFOI. Trxde debtors TTade debiors are amounts due from cusiomers for merchandise sold or services perfornjed in th¢ ordinary course of busine&s. Trddc debtors are recognised initialty at the transaction price. They are subsequently measured at amortised Cosi using the effective interest meiw, less provision for impainnent. A provision for the impainnent of trade debtor5 i5 e5tablish¢d when th¢re is objective ¢viden¢¢ thal the Charity will no¢ be able ￿ collect all amounts due according to the original ¢¢mis of the receivables. Cash 2nd equiv*lents Cash and cash equivalents comprise on hand and call deposits. and Oth￿ short-terni highly liquid inve5tmeThts that arc readtly convertible ￿ a kTro￿ a￿Unt of coth and are subject to an insignificani risk of ehange in valut. Tr4de creditors Trad¢ creditors are obligations to pay for good5 or seThi¢es have IKen acquired in the ordinary course of business from suppliers. Aceowits payable are classified as current liabilities if th¢ ehariLV does noi have a unconditional righL at the ertd of the reportin8 perio(( to defer sertiemeni of the Creditor foi at le&si twelve months after the rew)rting date. If th¢re is an uneonditional right to defer settlement for at least t￿1ve months after the reporting dale, they are presented as non12023.. £Nil) wds replacing old indoor p￿[$. Al lh¢ balan¢¢ sheei date the amount due ￿frorn RSPCA Eas¢ Winch w&s £Nil (2023- £Nil). RSPCA Derby Th¢ charity conlributcd £Nil12023'. £16.5(￿) tovards new sumrnerhouse for enrichment homing. At the balance sheei d￿¢ the 8mouTht due ￿lfrOM RSPCA Derby Wds £Nil12023- £Nill. Page 28