REGISTERED CMARrri NUMBER: 326358 REpoKf OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 FOR THE JEAN 8AIN8BURY ANIMAL WELFARE TRUST
THE JEAN SAINSBURY ANIMAL WELFARE TRU8T CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 R¢9POrt oflh& TAte98 1106 Roport of tho Independent Auditors 7t09 Stat8m8nt of Fln8ncial Acllvili 10 Balance Sh88t 11 Statement of c&8h flDWS 12 Note810 the Flnanclal Statements 13to22
THE JEAII SAINSBURY ANIMAL VVELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEM8ER 2024 REFERENCE AND ADMINISTrATIVE INFORMATION Tw¥t••$ M F All8n MRCVS J L IngNs J A Keliher W Kerschl (apFolnted 101h Apth 20241 M Orch8rd VMPlke J B Sharp M D Spurd8ns MRCVS Jean Baryl L18 Sainsbury Admlnl$lrator Barbara Georgiou (retired 30th Awil 20241 Tracy Boyle (appolnted 11¢ May 2024) D•puty AdmlnlstTator Tr8cy Boyle {unlll 3001 Aprtl 2024) Glanng de T181 (appointed 2Tr1 Docgmber 20241 R•glst•rod Charlty numb•r' 328358 Prfnclpal •ddro44 PO Box 459 London W14 8PJ Audltorts Azèts Audll S8Nlces 2rA Floor 45 Klng Wllllam Stregt London EC4R 9AN SollcltorB Slephens Scovm LLP Cur£on Hous• SoLrthemh8y We8t Exeter 04von EX1 1RS 8onkor8 CAF Bank Ltd 25 Klng8 Hill Avènue Klng$ Hlll Wo8t Malllng Kent ME194JQ Pag011
THE JEAN 8AINSBURY ANIMAL WELFARE TRUST REPORT OF TI4E TRUSTEES FOR THE YEAR ENDED 31 DEGEMBER 2024 REFERENCE ANO ADMINI8TrATIVE INFORMATION IGonllnued) Invéslment Manag?r8 Rathbong8 BrotheT¥ PLC 8 Flnsbury Clrots London EC2M 7AZ WhItY Assal Management Ltd 116 PrlnGedab Rood London W114NH In Octob8r 2024 IeY Asset Management was acqu5rèd by C#zèNive ¢apltal. the UK Wealth ManaG8m8nt bu8ln6S8 of Schrod8rs pk. C8z8nove Capltal l Londorf bNall Plac8 London EC2Y SAUT Page12
THE JEAN 8AIN8BURY ANIMAL WELFARE TRUST REPQRT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Truste of The Jean Sainsbury Animal WeFf8re Tru8t (the Charfty. or'the Trust,) present their report and the audited financial slalements for the year 8nd8d 31 Dbcember 2024. The fin2nclal Statements have been prepared In accordanc8 wllh th8 accounling sèt ttut in notè 2 c> thè attounts and cornply the Chgritls trust deed, the Oharitles Act 2Q11 and Accounting and Reportlng by Chadtlas: Statement of Recommended Practice appllcable to ¢harllle8 praparino the aLxounts In accor(lanc8 wllh the Fln8ncl81 ReporttrKJ Standard appllcablo In the UK and Republic of Ireland. '8tructur8, Governan and M•nagemont The Charlty Ss eJ)nstSlut8d under a tr1 deed datgd 19 October 1982 and Is reglstOTod chartty wlth nurnber 326358. Followjng sn appolnlm8nt by th8 bgnefactor dated 31 D8C8rnbgr 1993, 8ft8r the d8gth of the t94¢10T 9D% off the in¢omè of the orlglnal Trust Fund applled in any ar must be used or applléd wilhln the Unltad Klngdom and doftation8, whethèr of income or capllal. Shall be Ilmited to anlmal wellare chaiitles thkh Is wldély d8flned. Th Tru8ts88 have agreed that the 88me r881rlotlons do not apply to fvrther le9acle8. Tho Truste88 are entit16d to appolnt new Trustees and the Selectlon of fiJtur8 Trustee5 wlll have regard to tho skllls, knowledge and axpertence needed for the effeCte admlnlstratloft of Iho Tru8t. There 18 a procoss of Inducllon for naw Truste85 whlch InclLNJes maellngs wth currant TTUStO0¥ and the provlslon of koy Infom)atkn. The followlng prin¢ipal tsfficor¥ ha held offi¢8 durlng tho y8ar'. minlslrator- 8thra Georgkju 10 30th Aprti, then Tracy Boy10 Deputy Admlnlsliator- Traay Boylg to 30h Awll Deputy Admlnislrator- Gianna d8 Tlsi, from 2TrJ Dècember Th• key m8nagem?nt pgr8onng1 of Ihg Chgrlty 8rg Its Tru$tegs who roc8lv8 no r•muteration. AJI malor grants and donallons are agreed at TNst688' mèellng8. Small Intedm donatlon8 are authofl8ad by the Man8glng TN8ts0 vhth the Admlnt8lrator8. Uurlng th• yaar an 8ddlUonal Tru8b8, W$mor Korschl, was rac¢ultad and appolntgd to ¢h9 Board ot Tru$toe$. Wemgr bdng8 addllional f4n&nca and inv8stm8nt exp•rti80 to th6 Board as wo11 a8 8 koen Intarnsl Sn anlmal In Aprll e&rbara Gaorglou rotlred after 7 y6arB as Admln18tralor, The Bo8rd would Ilke to record Its Ihgnks tv Bart)ara for her hard work 8nd enthusiasm. Tracy Boyle replaced 8arbar8 as Admlnistr8tor and 8 recruitmfjnl ex•rclae took pl8¢6 resulting In the 8ppolntmgnl of Glgnna da Tl81 a8 thè now Assistant Adminlslrator. Gk8nna bling8 knOedge of web811e cont6nlicre8llon and management of charity Bocial medla pla¢form¥ whith wlll help tht Trust lo rals• Ils profile vAth both charity appllcants and pOtljaI.b8nefaclors in the fvluo. Tho TN6tO88 hold Mgular me8tlng• In March. Au9USt and No¥arnb6r. TfusIo0 raol wmh Iho Admlnistrators In F8brnary, Jun8 8nd September. Obl•ctlv•8 and Actlvltl•8 for the Publlc 8•n•flt The Trn8t868 confimi Ihal they have referred to the guldanGe gjntslned In the Charfty Commtgglons g¢nerg1 guldanek on publlo benefit when reviewing thè TN8Vs alms and oble¢tlves end In pknnlng future actlvltles ar Bettkng thg grant maklng poll¢y for the year. The objectives of thfy TTu81 to donats to UK charfle8 who88 pwp08e8 encom8¥ one or more of. the following.. Jo bengfft or pmtgcl anlrn&l8 lo relieve 8nlmals from 8ufferlng lo wiserv8 wifdllf6 to encourage the underslandlng of animals The Tn4s1 ottempts to vlsll as rnany ¢harflle8 a$ sIble In ordar to vlww the work of appllc8nt8 and lo monitLv the results of donations given. Pag613
THE JEAN 8AINSBURY ANIMAL WELFARE TRU8T REPORT OF THE TRLISTEE8 FOR THE YEAR ENDED 31 DECEMBER 2024 aranl maklng pollGy Th8 C17artty invi109 fjpplloatlons for fvnthng whkb gm Ihen revlawl qgalnst spgcltlc crtterta a8 Sat by tha Trustees In accordanc wlth thg Charfty's obJe¢Uv88. Further detaiL8 indudlng polioy guidelines can bg found on thg Charity's w8bslto. AchlovgnMnl• and P•rlomian SlnGe ils iftcepti. In 1982 thè Trust has donal8d alm08t £13 mlllion to hundred8 of UK reglstered anlm8! welfare ¢harttie8 worklng Ihroughwl the UK and overseas. Dcnatlons from the Trust are glven to chartll86 the maln alm Is lo rosou8, rohabllltste an(1 rehome or release dome511c and wlld anlmals, Thlg WQTk also beneffts gr981 many 0nim?l owners and tho$• who carp about the protection and wellt¢ing of anlmal$ and about the oonservatlon of witdllfe. In total Durlng 2024 donatlons totalling £581,3 wer9 made to UK rogi$tw8d animal wolfar& thArllles working in tho UK and OVéTsaas involved wllh the car8 of dogs, cats, rnbblts, equlnes ond numerou8 wlldllfe r8nglng from hodgehogs to è16ph8nt8. or Ihls total, donatlons tot8lllnu £382,500 ware made to charftlè8 worklng In th8 UK In tha memory of Jean Saln8bury, and £178,8Q) lo UK regi8terfjd GharitI wortlng In Iho UK and ovgrseas, In memory of Joy¢0 Evetyn Shuman. The RVC 308umonl Solnsbury Anlmal Ho8Pital, renamed In mgmory of Jgan Salnsburyp again rOCèN•d fundlng lo support pel owners In n8•d of finandal help wlth Iheir v¢t foes, Flnanclal Rovl The Tfust88s r8POrt a net Incf0898 In fijnds for the year of £1.999,90212023 Increase 01 £2,136,151) SS 8hown In the Statement of Flnanclal Acllvltle8 on pa99 10. Th8 movement In fund balances InGludes reallsed and unreallsed galns gn Inv08tm8n18 and a8$019 recolved in lh8 year totalllng £2,349,371 (2023: ggln8 of £2.931,2541. GTant of £561,300 12023,, £925,500> woY• pald vAdusfvety lo animal wolfaye th•Tilig5. Inwtsslmgnl Incomè rgc8lved by the TTUSt amounted 10 £505.679 {2023: £427.238). ImT•Stmfrnt pollcy and perfwman Whthey A88et Marwement IWAMI wag acqulrad by Cgz8novè CAthI {Caz•nov•l in October 2024 4nd lollowlno dlscus$ion8 w6th the fund man8ger8 a declsSon was tak•n to keop tho Trusts, fvnds invfrsletj wlth WAM ts1h Cazenove. Tha invgstm•nl oblecfvè8 are for a balanL> of In¢omè ond Capllal gwowlh. Wbllsl th•Fè ar8 no r8slr3¢knJs on the chartty'j power to invest, an Inv8$tsnenl strategy 18 Sèt by the Trustees and revlewgd annu8lly with tt fund man8geYs. Th• Trust ha¥ an oxclu8ion poltcy whlch requlres fund manager8 not to Snve8t directly or indirecty in compIe$ whlGh carry lestlng Dn anlmob for NON-m¢dlGal rea80hS. Th9 Trust insists that Environmental, S¢)¢lal 8nd Governance IESGI f8Ctor5 must al80 bo consldérnd by thè Investrn8nt managars and Intagrated Into thelr Investment PCeSS0$. The TNstees can ex¢ludg-or Ilmlt IDv¢stm•nts whiGh pretsent potsntial ¢orn?ict wlth the aims ol Ihe Trust andlor uld damage Its reputath)n. Tho poN¢y is reviewgd 8nnually wlth th9 Invèstmgnt rnanagern. Page14
THE JEAM PAINSBURY ANlhlAL WELFARE TRUST REPORT OF THE TRU8TEE8 FI)R THE YEAR ENDED 31 DECEMBER 2Q3 R18k managgmont The TnJ8te&8 regularty r6vi8w the major d8k8 which the Charity laces and confirm that systems hav6 been 8stabllshed ¥0 that tho nocessory st6P3 ¢an be lakan to manage and 16ssen such risks. The key rfsk lo the Charfty relate8 to Its Inv88tment portfollo on whlch the Trust rglies for Its ongolng Incomo. The rtIcl10 13 indepand8nty m8neged and Inv98ted acro8$ a broad range of Inve8trftanls to mlugate markel volatility. Intem81 financlal processes wore revtewed durfng the year and Employee Dlshone8ty was fjdentmted as an unllkely. Pyjt potsn11 rfsk and approprfate cover wa8 addéd to tho Tru8Vs Insurance pollcy. Reserv•4 Pollty Al 31 Decembtr 2rr24 Ihè Tntsl had un¥o¥irfGl•d ¥•s•rvtsts 01 £30,543,774 (2023.. £28,543.872) ar It is tho pkll¢y of th6 Trust888 to r6tain th1$ but, tsking on8 y8ar with another to use th8 income Ih6refrom In pursuancg of thè oble¢t8 of th8 Chartty. The Tru8t6e8 Intend 10 Spend or commlt them88lve8 to sp8ndlng the Investment Income of tha Trust wlthln a reasonable perfod of Ils recelpl. The Tru8V8 capllal Is Invested In a wldeiy divor8ifiad portlollo and Hi th8 8bs&nce of a rnar aconomlc crlsls Ihe flow of Income Is unllkely to drop sharply and wlthout wamlng. Grants and commrtmnts whlGh hava b88n approved Brè provided 85 a li8blllty in tho accounts. Ir+vè&lmant Manogars, fè6& gro dadu¢tÈd al 8¢Jure8, but for Intem81 us6 trustees on 50% of the faes to eapltal thereby Increasfn9 tho amount of Incom& avallablg to bo owarded as 9rents. Plans for lh• Futur• The Trugvs alm6 lor 2025 aré io contlnue to make gran18 In puisuan¢e of Its ¢harllable obléct8 and conllnue wth oflorts to ra18e proflle wlth both charltle8 $ult8ble for 8UPPOrt and potentlal bonafactors vla a refr88h of the webkite end tho Intft)ducdon of soclal mgdl8 account8. Intemal sy8tèms wll continue to be updabj and 8tr9aml1n wiltt a fo¢u# on th• applic8tlon proc08ts plénnod for earfy 2025. P8gg15
THE JEAN SAINSBURY ANIMAL WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMEKf OF TRUSTEE8 RE8PON81BIUTIE8 The Tru81ee8 are re8ponsible for pr8parfng tho Report of the Trust. and tha fin8ncAal 8tatsm6nts In accordance wlth appllcabl818w and Unltsd lfjrvJdom Accountlng Standards {Unlted Klrwom Gener8lly Accepted AcccmJnng Prac¥ce). The lftw appl(cablg to chadtl8s In England and WaleB, the Gharfes Act 2011, Chadty {Accounts and ReFKJrts) Regulations 2008 aTrJ the provlslon8 of tho trJ5t deèd raqulrÈ8 tha Tnjslèes to PTeparo ffinand81 statomènts for each flnand81 year whlch give 8 truè and fabr vlow of the ¥tate of affalrs of the charity and of the Incomlng resources and apptfjcallon of resourc85, Includlng the Inwm? and expondlture, of tho chartty for that pprlo(f. In prgparfng those financk91 statements. th8 TN91ee8 are r8quITod to ¥eleet sultabl8 aGcountlng polkles arKI then apply them cons18tenUy; ob$•rve the mètlrots and ptinclpltts In the Charfly SORP 2017 (FR8102),' rnake Judgements and esUmats$ that are rga8onAblfj and PTudgnt', slate whether appllcable accountlng slanrJard8 have baen followed, 8ublfjd lo ary materlal departur88 di3¢108¢d and exaIned in the finandal $ts1gments; prepar8 thè Inancl81 statem8nts on lh8 golng concem ba818 unt888 It18 Inapproprlate to pro8um8 that tha charty wlll con11n In bu8ln888. Th• Trustea8 8re re$pon61blo for keeplng proper 8ccounting record8 whlch dl8c1088 wllh re86enable aCr8¢Y al any Ilme the ffnandal posllon ol tho ¢h8rlty ond to enable Ihem to ensure that Ihe, Iln8ndal 8tatomonls Comply wlth th• Ch8rltte8 Act 2011, and the provlslons of th& trust deod. They 8r8 Also rèspon8lbl• for saf•guardlThJ tha aqgets of tha Ghadty Inc& for taklnq fo#[l stw for tho pr•vantion ar d*t8clton of fraud al other Irregulgrltte$. Approved by ordor of tho board of TnJstee$ ........ . and signed on ilg bohalf by: M D Spurd6n8 MRCVS- Chalr of Tru8tees Pag918
REPORT OF THE INDEPENDE1 AUDoR8 TO THE TRUSTEES OF THE JEAN 8AIN8BURY ANIMAL WELFARE TRU8T Oplnlon W@ hav& 8udltèl tho fln8nclal statèmants of Tho Joan Sainst)ury Anlmal WolfarB TNsl (Ihe 'Cha,} tor the yèar endèd 31 D¢eembèr 2024 which mprIse the Statement of Financial Activities, tha Balanc6 Sheel, the 8taleTllont of Cash Flows and note8 to the ffinanclal st8iemènls, Indudlng a ¥ummary ol slgnlfi¢vJnt accounllng policios. The financial reporting fram8WOrt¢ Ih8t has b86n 8ppll8d In th8lr prèpafatson is arplicab16 law and Unl langdom Accountlng Standards, hc4udlng Financlal Reportlng Stsndard 102 The Finan¢ial Raporting Standord applicable in Ihe UK arnl Reputjllc of Irgland (Unlted Klngdom Generdlly AcGepteLI AGcountlng Pr8Ctfce). In r wlnlon thg flnandal $tst8ments: give a truo and fair vl8w ot thè stslt of the charlty's affalrs a6 at 31 Decèmber 2024, and of it8 Incomlng tesoutces and appllGatlon of resourc68. for Iheyear then ended: have bn property pr8par8d In a¢emd8n¢e wtth Unllèd Kingdom Genor8lly Acwtsd Accountlng Practlce: have been pr•par•d In accordanco wlth the iequlrémenls of thè Charft1è3 A¢1 2011. Basls lor oplnlon Wè conducted our audlt In ac¢ord8nc6 wllh Intematlonal St8ndards on Audltlng IUK) {ISAs (UK)? and appllcabla law. Our responsibli rti08 undaf thos6 ¥tandards ar8 further d8scribod In the Audilorf$ r&sponslbilitlas lor aud5t of the financlal 8tatem8nls sectlon of our rgport. We are Ind8p8ndent of the charlty in accordance wtth th8 8th1(al r8quiremen18 that are ro18v8nt to our audit of the financial sta19ments In the UK, InclLrdlng the FRC'8 Ethical Stsndard, and we have fulfllled our other olhlcal re8ponslbllllle$ In accordance wllh thesa requlrements. We . b•Ive thattha audli 6vldence we havo obialtd Is $uflicioTh1 and approprlets to pravlde a basis for flur oplnloTr. Con¢lu8loM rolthtlng to golng ¢on¢•rn In audillng th? flnancl81 stotemants, we have wndude(I that tho truslee5' usa of Ihe golng concem b8si5 of aceKJuniln9 In the preparatlon of the fin8ndal glatem&nts18 approprfatfr. Based on the Work w& h8ve performed, we havo not Idénllfied any matgrtal unrtaInO8 relatlng to 8Vonts or condltlon8 Ihat, Indfvldualty or eollèctlvely, may cast slgnlficsnl doubl on thè charity's ability to contlnuo as a golng ¢oncem for 8 peilod of at least tsvelve months trom when the flnanclal statements aro aulhoTlsed for i¥¥uo. Our Tèspon8lbllllio8 and th• rnsponsibili1108 of thè tru$teO8 wlth res¢1 to golng ¢on¢8m are de8crfbed In tho .relevanl 8ecllon8 of Ihls repo Oth•r Informallon Th• othor Inforrnatlon compri808 tho Infom8t¢on Indu¢J#d In the annual report olher than the tlngnclal stat•monts gnd our audiloT'$ report Ihereon, The Trustees are re3pon51blè for the othar Infomation eonlainad wllhln th8 annual report. Our oplnlors on the flnanc4al stalements dw¥ r oover the other InfgTrnatlon and wo do not 8xprè$s any fom) of 888ur8nc8 concluslon Ihereon. Our responslblllty Is to read the other Inforrnatlon and, In doing so, considgr whether the other Infomalion is malerlally Inconslstent th the fknanclal 8tatenwtts or Olsr knwAedge obtslne.d In Ihe ¢4)une ol the 8udlt, or otherwise apptsan to bv matPTralty n)Is#t)ted. If wv Ideyrtlfy inalerf81 Inconslslgn¢lo5 or appargnl materlgl mls$tst•menta. r4ulrèd lo d&tèmilM whether thls glves rise to 9 rn8teTI81 mlgstatement In the financlal statements themsolvos. If, bas•d on Iho wtyk we have parformed, wa eondud• Ihal thgra18 8 materlal ml88tstem6nt of th16 other Informalloh. we are réquired to réport th8t fact. Wo hava nothlng to report In th18 regard. Paoa17
REPORT OFTHE INDEPENDENfAUDrroRS TO THE TRUSTEES OF THE JEAN SAINSBURY ANIMAL WELFARE TRUST Mattws on vthlch we are r•qulr•d to report by exceptlon We ha nothing to report fft rèspèct of the follown9 matters In relation to whlch the CharilleB (Aooounts 8nd Reports) RegatIOn8 2008 require us to report to you rf. In our opinlofi: Ihe Infomiabon gfven In th8 ffinanr 3taiemBDts Is Incon515tent In aTry makeTlal f08P8cI Ythh. the TDJ5t¢e r8portr, or sufflclenl accounttng rècords havè not beèn kapt. or the flnandel statement8 arfr not In aor8em8nt wlth the accountlTrB records; or have not fecoived 811 the Info00 and explanatlons w8 raqulre for our audlt. ResponJ1bllttl of Tnwt•é¥ As explalned morg fully In tho TruÈtsgs' rospon$lbllitig$ gtat•mont $8t out on pagè 5, tha Trust arn r•#pDnslbl• ror the preparallon of finanolal stalemonts which glve g trug and f&lr view, and for such Intsm81 control as the TnJ8taes detemiine 1$ neGe888ry to enablg th¢ pr•par4tlon of fiftancial sta¢enwnts b%at aro fro0 from m8tartal mls$talemont, whother du• lo fraud or error. In prfjpgring thé flnanclal stalam8nts, the TTVStèos are rasponslblè for assesslng tha charfty's ablllty to conllnu& as a golng concem, dlsclosing, as appllcable, matters relatsd to going Goncem and using the golng oon¢8rn ba318 of accounllng.unless Ihg Trusta88 either inland to Ilqutdate tha Charity or to c8ag8 op8rations, of have no r801ialic amernallve but lo do so. Audllor's rnwon$lblllth8 lorlhe audtt of thfr Ilnanolal •tatsmonts Wa bAve beon apwlnted a8 audltrjr Fmder sedon 144 of the CEiarltio8 2011 report In ac£ordatice wllh tha Ad aThJ relevant mgulations mado or havlng 6ffact thereutKJer. A furthor de8crapOn of our rospon8lbllltl8s 1$ av811obl6 on the FlnBnclal Reporfng Counc41'8 websltè at: hll)&.'Il www.frc.org.uklaudllty8r88pons1blli?S. Th18 dgscrlpuon forms part of oyr audltorfs report. Extont to whlch th• audSt waj con•ld•r•d cepatsl• of d•l•Gtlng Irr•gularltl•s, Includlng fraud Irr9gularila3, Includlng traud, are Instanc48 of non-compllance vAth 19W8 and regulatlons. We dgslgn procadures in lino vAlh our r8$pon81bllit108, OUtlln8d above and on the Flnanclal Reportlng Council's website, to d?le¢t m8t•ri81 mi8gtelém&nts In r•gpa¢t of lffégularitièg, including fraud. We obtain and update ¢xJr underslandlng of the enllty, It8 aQtlvltl88, Its control envlronmenL and Ilkely fulure d8v8lopments. In¢ludlng In relation to the lèg#1 and regulatory framework appllcablo and how the enttty 18 complylng wth that fvmOWOTk. Ba¥¢d on Ihls undgr¥tsndlng, we Identfy and asJess the rtsks of materfal misstatement of the financL918tatements, whether due to fraud or error, de8ign and perform audlt proe6dure6 responsive lo those rfsks, aTrJ obtaln audit 8vldence thatls 8uffl¢lont and approprt918 lo provlde a basls for our opinion. Thi8 incknle6 con8ideratlon of the rfsk of acts by the enlly that were contrary to appll¢abEa laws and regulaltons, Includlng fraud. In response to the rfgk of IMgulariUe$ and non-comp118n¢e wlth laws and regulations, Indudlng fraLDJ, w deslgn8d procedures whtch IlUded. Enquiry of mana9emènl and those Chargéd wlth gov8manc8 around acbjal and potsntial lillgalion and claKns ds w811 #s ActrJBI, suspèctsd 8nd All•g8d fraud; Revlewlng minutes of meetlngs oflho$8 charged th gov8mance', Assessing the extent of ¢ompllance wllh fhp laws and regulatsr)n¥ wnsidered to ha¥e 8 dlreGt materlal effect on th8 financlal Statements or Ihe operatlon8 of the 8ntlly through enquiry and inspection: Roviowlng fln&ndal s18temgnt dlsLIosure5 and tesllng lo supportirvJ documentatlon lo a85•89 compl19n wllh appllcJble laws and regvl8tJons,' Perfonnlng audlt work over the.risk of management bias and ov8rride of cont18. evBluatlng thè busin8ss ratlonal6 of signrflcant transectlons ouisld8 the ¢our5e of busln&%s and revlewlng accountlng eslimates lor indlcators of potential bias. Because of the'lnhorent Ilmltatson5 of an audit, there Is a risk that we not dÈteGt an irregularille3, including those leadlng lo 8 matsrlal m188totement In the flnanci81 statsments or nonornpban0• with regulatlon. This risk Increases the more Ihat compllance wilh a law or re9ulaUon Is removed from the events and transaction¥ refiectsd in the ftnanclal sta18ments, as we wlll be tess likely to become aware of Instances ol non<ompllan¢g. The risk of nol dete¢ting a malerial mL8ststemenl resulting from fraud 18 higher Ihan for one r08ulling from eOr, as fraud MAY inyolve colluslon, forgery, Inlèntional om1ss1$, mlsrèpm8ntations. or Ihe override of Inlarnal control. Page18
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE JEAN 8AINSBURY ANIMAL WELFARE TRU8T Ust ol our roport This pOrt is made solely to the ¢harlVs trustees, as a body. in accordan¢e with Part 4 of the Chari118s (Accounts and R8POrtsl Regulations 2008. Our audll work ha8 tjeen undertaken so Ihal we Mht stslg lo Ihe chadfy'8 trustees thos8 matters we are requlred to state to them In an audftorfs report and for no other Pu(. To Ihefvle31 exlent peThthd by kn, we do Trot ac* Dr aSBume rD3pon¥ibirty to anyone Dlher Ihan IhB thaTY and th8 thariW8 IIuBle8s aÈ a body, for our 8udit work, forthiÈ rèport, or for tho oplon5 we have fom1. John Howard {Sgnlor Slatutory Audltor 1$ Audll SeThkes 2nd Fk)or Regis Housts 45 Klng Wllll8m Street London EC4R 9AN 10 June 2025 A2¢ts Audll Servle88 1$ ellgibb for appolntmenl as audltor by vlrtue of Its eliqiblllty for appolnltnent 88 audltor of. ¢>ynpany under 8ecUon 1212 of the Companle8 Act 2006. Pago19
THE JEAN 8AINSPURY ANIMAL WELFARE TR118T STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Total Tot41 Unrestrlct•d Unr•strlctod Funds Fund6 2024 2023 Donatlons and legacles Inv8Stmant IncA)me oth9r Incomo 375 427,238 506,679 324 Total Incom• 506.486 428,219 Exp•ndltur•: R8181n9 fund8 213.840 202,839 ExndItUre on charltsble actlvrtle8', Anlmal welfare 842.096 1,020,483 Tolal •XndIturo 855.935 1,223,322 Net (10ss86y galns on Investmènts 10 2,349,351 2.931254 N•t (•xp•ndlturalllncom8 1.999.902 2.136.151 Not mov6ment In fund• 1,999.902 2.138.151 R•conclllallon of lund• Total lund8 brou9hl forward 28,543.872 28,407,721 Total funds carrlad forrtard 13 30,543.774 28,$43,872 All of the abovè fvnds are unrestrlcted. Th8 notes on p8g8s 13 to 22 fomi of th08e accounts. Pago | 10
tHE JEAN SAINSBVRY ANIMAL WELFARE TRU8T BALANCE SHEET AT 31 OECEPABÉR 2024 Noto8 2024 2023 FIX a*s•ts Tanglble assets Investments 1.222.154 29,310,933 1,226,267 27.315,388 10 30,533,D87 28,541.635 Current assats Debtors Cash at bank 11 921 78,Ota 740 .66A6a 79,931 67209 Cr•dltors,' amcMJnts fatlina duè within on8 r ' 12 (69,244) (64,972) N•t curr•nt a8JJ•ts 10,887 2,237 Tolal ag9•ts18B• Gurrefit Ilubllltl8• 30,543,774 28.543.872 N•1 a8•ets 30,543,774 28,543,872 Th• tunds of th• Charhy Unraslrlcted funds 13 30,543,774 28,543.872 Total fvnd• 30,543,774 28,$43,872 Tha flnancl81 $tstementy werg approvod by the 608rd of Tru$ts89 on 8lgned on Its behav by.. i.¥.1.. ,.1 and w•ro M D 8purd•n8 MRCV8- Ghalr of TruBIo93 The notes on pag98 13 to 22 fomi part oflhe3e accounts. Pago111
THE JEAN SAIN8BURY ANIMAL WELFARE TRUST STATEMENT OF CASH FLOW AT 31 DECEMBER 2024 Nole 2024 2023 Nèt ca¥h uod In op•rntlng dlvltl•* 16 (631,4791 {1.009.097) C•$h flowg from In¥tIll9 a¢tlvlllo0 Dlvldends and interest from Investments PurGhas8 of Investmonts pro8dS frorn saEe ot InvB$tm8nts 605,679 18,419,008) 8.557.349 427,238 (2.850.659) 3.270.784 Nèt ¢ash provldèd by Inv•stlng a¢tlvltl•• 644.020 847.343 Chang0 In ea•h and ¢J•h gqulval•nts In tho yoar 12,541 1161,754) Cash and cagh equl¥al8nls brought forward 228,223 C••h and ¢uh •qulvalènts ¢arrl•d fomard 79,010 68,469 The notss on pages 13 to 22 fomi part of the80 acwunts. Page l 12
THE JEAN 8AINS8URY ANIMAL WELFARE TRUST NOTESTO THE FINANCIAL STATEMEtrirs FOR YHE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The J6an Salnsbury Anlmal W81far8 Trust 58 8 reglstered charlty In the United Kingdom, no 326358, The principal addres8 of the Charity 15 gfven In the chaFity irfiomiakn on pago 1 01 fmantial statements. The natur& of the Charity'$ opgratti)n$ and princip81 activitses are set out on pago 3 of tha88 ffnanclal ststements. ACCOUNTING POLICIES The princlp818ccountlng polldes adopted, ludoements and key sources of estlmatton uncortalnty In th$ proparatlon ol the ffinénc(al siat6ments are as fallows., Bas1¥ of #ccountlng The 8ccOunts lfin8nclal 8latem8nls) have be8n prepared under the hlstorlcal cost convention wllh Items r$cognised 91 cost or tran8aclion value unle88 Otherwis8 stAled in the r8lèvAnt not8(s) to Ih88e accounts. The finanual statements have been prepafyd in ac¢ordan¢e with the Statemenl of Re¢ffiimend8d Practlc8: Aecounling and R8porttng by Charlllos preparing their accounts in accordancg with the Nn8n¢lal Reportlng Stsnd8rd appllcable In the UK and Rwblt¢ DI Ir8larbd IFRS 102)188u8d on 16 Juty 2017 and the FlnancS8l Reportlng Standard appIlbIg In the Unfled Klngdom and tho Rgpublk of Ireland IFRS 1 02) and the Charltles Act 2011. Thè financial slglem•nt8 have beon prepared to give a 'tru8 and fall vFaw and hav• departed Irom thg Charitles (Accounts and Rvports) Regulationg 2¢)08 only to the ext8nt raqulred lo provlde 8 'lru8 and falrf Thls departurg hay inofved follThlng AccDunkn9 and FI¢))ng ty ChaTltleJ pl1n. g trrrii flnandal Btatem8nt8 in accordanca wlth the Flnandal Reportlng Slandafo appllcablo In the UK ond Repubuc of Ireland IFRS 102) issuèd on 1 S July 2014 ralhèr Ihpn thè Accounting 9nd ReportlryJ by Charfllès.. $tstem6nt of Recommended Pra¢tlce affecttve from l ApT11 2005, whlGh h8$ slrK8 be6n wilhdr8wn. Tho Jèan S8lnsbury Anlmal W61f8re Tru8t m99ts the d6finitlon of a publ1¢ benefit entlty undor FRS 102. A8$8ts and 118bllilles ar8 Inltlally r8coonlsed al hi$torrAI ojsl or tran8aCtton valuo unlo88 olherwl89 8taled In Iha ralevant Kcounting pollcy note(81, Tha nnsni?al 8tatom•nl w• pr•par8d In whith ia tho hJndionAI cUff¢Y of th• carty. (b) Pr•pY4ratlon of thé ac¢ount• on a golng c¢nc•rn b••l• Th8 Chadty has a roasonatAe &xpectalion thal there ara &dequats resources to wnttnue in operational exislen¢8 for the foreseeable fubJrg. It has ther8fore. continued lo adopt thè golng o)ncem basis in preparlng its fin#nclal slaten78nt8. The current uncertaln ¢cOrnI¢ dlm8ts was tsken Into COnBlderalion when perfom)Ing th• going conc•rn aMe88t. (c) Incomo All Incomlng resour arfy Indvde¢l In the Statement of Fln8nclal Artlvltlgs (SOFA) whgn the Ch8rlty18 legally 8niltled b the Incom? after any parformanc8 cmdltlons have bèon mot. Ihe amount be mea8ured T¢llably and It E6 probabl8 that the Income wlll bè r¢ce5vad. For legacle8. ents'domenl Is Ihe earller ol the Charfty being nofied of 8n Imp9nOinu dlstrlbutll or the l•ga¢y belng recelved, At Ihls poiftl incom¢ 1$ re¢ognl$ed. On occasion 1ogade$ wlll b8 notlfied to tha Charity however il Is not posslblo" to mèa&ure th• amount exp8ct8d lo be L1isb10utsd. On thes8 occaslons, Ih&1ggacy Is treated as 8 0)nt4ngent asset and disdoged, Interest on lunds held on dgpo8lt Is Included when recelvable and the amount can bé meaJured rellab by the Cha<Ety', th1818 nomnltr upon notlfi¢&tion of th¢ intoreBt orpoyablo ty the bank. Dfvldends are recognlsgd on¢• tho dlvldond has been declared and notificallon has been recefv6d of the dlvtdend tlue. Th18 nornally upon nollflcatton by our Invèstment advlsor of tho dSvldend yleld of the Investment portlollo. Pagg113
THE JEAN SAINSBURY ANIMAL WELFARE TRUST NQTE8 TO THE FINANCIAL.STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES . contlnu•d (dl Exp•ndttur• All expendlture 18 oc¢xiunted for on an accruals ba$is and has been dassl)led und¢r heading$ that aggregata all co8ts related to the category. Expondllure 18 recognlsed whefe there is a legal or constructlvo obllgatlon tL¥ mak8 payment$ to thlrd partiès, it Is probabl8 that the settlement WIIS required and tho amount of thè obllaallon can b8 m8esurgd rellaLqy..1118 ¢ategorf$ed und8rlhe followlng headSngs'. C0315 of ralslng ffijnds eon&lst of Investment managem8nt fees for the porfod, and any wsts in ralalloff lo obtainlng funds in tho fvture. Costs Df rhgrilabia adivitiéB conslst ol th¢>s• ine4Jrrnd by lh• chaslty Jn th& deilvary of its sdfvhi68 and Se1¢e$ for its beneficlarte3. It In¢ludey both costs allocal8d dljpctly 10 8uch activit188 And those c)$ts of indirect natura neoes8ary to support thom. Grants payable 8r8 payni8nts mado to thlrd parties In the fvrtheran¢e of the charftable obleGts of the TNSI. The 9rants are 8¢countsd for whora elther the Trustees h8v8,agreed to pay the 9r8nt wlthout condlllon and the reclplont a ronOble expeclallon that they wlll rec8fve a giant, or any condlllon attachlThJ to the grant18 outsld6 tho ¢ontrol of the Tru8t. All èyns0$ In¢Sudlng 8UPPOrt C0818 are aliocatsd or aprtIoned lo the oppll¢able exp8nd1tt4r8 headkngs, Irrecovorabl• VAT Is chargad against the •xpgnditura hèadlng ft>r whlch it wa8 Incurred. (•} P•n¥lon¥ The Charity operates a d8flned C¥Jntribulion schame. Conlrlbutlons payable to the penslon 8chem9 arg charged lo tho 3ts1gment of Financlal AcllvltJ88 In the wrfod to whlth Ihgy rolata. (fj Furtd •ccounUng Unr&slrtotgd fund$ ¢ornpJlsè thas&' fvnds whioh the TJu8t888 ara frae to U8e lor any purposos in furthernnce of the ch8rftable objects, 19) TangSbl• Ilx•d s••ts All a88ets 8ro rapltali9oLI and valued at hlstorfcal cosL Depreclation Is provlded al th& following annual rat88 in order to wiitè off each a8sal ovar Its 8sllm8ted u$ofv1 life. Loasehold propety FurnlWro ond fixturns Computsr #nd office U1pman1 1% 8tr81gM Ilne 15% on redudng balance - 20% on redudng balanc& {h) Flx•d ••Mt Inv•stm•nts Investmènts aré a fom) cf ba8tc finan1 In$tNment and 8re Inlllally rnIsd al their transaction value and subBequenYy moasurnd al their fair value as at the balan¢8 Sho dale using tho cli)ging quoled marf(81 ptice. "AJI galns and1098e$ are taken to Ihe Statement of Flnanc481 AttiviUe8 a$ they arlse. Rea15wJ gains 8nd 108S@s on Investments are calculated a8 Ihe dtfference be9n sal& proceeds and opgning mathet valuè (purcha88 dale if latèr). Unr88lised gains and losses are calculated as thè diffor&ftc¢ between thè market value at the year end and openlng market value (or wrchas& date If later). Pagel 14
ThE JEAN 8AIN8BURY ANIAIAL WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLlelES- contlnuad Dobtors Debtorts ale recognlBed at the SèlUem6nt amount due. a) Cash at bank and In hgnd Cash 8t bank and ca6h In hand Indudes rAsh and $hort temi hluhty Ilquld Inv8sknents wllh a short rnaturfty of three months or less from thg dats of oqulsltlon oponlng of th8 deposlt or slrnllar aGGount. (kl Crodttor8 Creditors are rec4>Jnised where the Trust has a pro&?nl obllgauon r68ulling from a past event that wol probably result in th8 ttyn$f8r of lunds Io 8 th perty and the amu¢ffttdue to Seillo th8 obllgallcM ¢arT ts8 measured or etsllmal rfrliab]y. Credltr>rg are r8cogn18ed al th91r settlement am¢Junt duo, Flnanclal In•lrumenl• Tho charfty onty hss financlal a88ets 8nd Ilabllllle5 of a klnd that quallfy 88 bas1¢ financlal Instrumonts. Boslc flnanctal Instrument$ are Inlllalty reeoonl8od at tron$lon value and subsequ8ntly measured at thelr settlomont value. {ml Taxallon As a charfty. the TTh1 Is not Ilable to tsxation on il¥ Income or on surplu6e6 on d18posal of Investrnenty. (n) Judg•m•nts and kny sour¢•• of •$tlffl•tlon un¢•rtalnty Accountlng 68Umat68 and ludgements aré ¢onllruaUy avalualed and are b•60d on hl8torfco1 axparlènca and other factors, Includlng expo¢tallon$ of fvture Ots that are bellovod to be ffja$onablè under the clrcurnstance5. The ft>llofftg ludgoment8 (apart from thv*e Inyolvlng e¥tim8t¢s) ttaye boen made fft ptwess of apptylng th6 above accoUnn9 pollclos that have had thè most signlficant èltecl on amounts recognOd in tho fln8noS918tstements: Useful 8conDmlc lives of tanglble as6et8 Th¢ 8nnu81 depraclallon charge for tsngible ass# is 88n8illve to changes In the estimated usefvl corMIG lfve5 ènd resldual values of the assèts. The useful economic Ilve8 and rètsidual valua8 are r8- 8S806s6d annudly. They are amended when neca88ary to refjod Current $smateS, based on le¢hnologi¢81 odvancemenl, futur6 Inv&8lments, 6CDnomlc Lrtillsatlon and Iho phy81cal condltlon of th a899t8, Therg aro no kay gs$umptlon8 c1)nmInG t future and other key sourcos of estlmallon uncertalnty at the reportlng date that have a slgnlffcant dsk of causlng 8 mater181 adfv5trnt to Ihg C3rrylng amounts of 9989ts and118bllltles wllhln th8 next fln8nclal y8ar. INCOME FROM DONATIONS ANO LEGACIE8 2024 2023 Donations Legedes 375 375 PAgB115
THE JEAN SAINSBURY ANIMAL WELFARE TRUST NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDEO 31 DECEMBER 2024 INVESThqENT INCOME 2024 2023 Dlvldends and Intofo81 recolvod on Inv06tment pok1follo 505.679 427,238 COST8 OF RAISING FUNDS 2C124 2023 InvoBtmgnt managementfees 213.840 202,839 EXPENDrruRE ON CHARITABLE AcTIvlES Grant funded 4etl¥lty {not• 8.1) (noté 7) Total 2024 Total 2023 Anim81 welfare 681.300 80,795 042,096 1,020A82 In 2023, the total of £1,020,482 was made up of £926,5fv of Grant fvnded actIvio$ and £94.982 of Support GIIANTS PAYABLE Dats Grants lo ¢horftho op¢r•tlng In th• UK: Llnbèé Dop RehomlTry Hlll Pony Rosources TAK- Todwl(* & Kfverton Rescue & Rohoming C•rrtré Pg1 Care Neork Fellne Nelworf( Ty Nant Cal SAnctU8ry Poppers Pat Ra6¢U8 The Shapth Wlldiifg Congervotlon Charity Stsffie Smli06 RgSGUe Anlmal Support Angèl$ EaslbLwm¢ Bird Aid CIO 13103r2024 1310312024 1310312024 1310312024 1310312024 13103f2024 1310312024 . 1310312024 13103f2024 131D312024 2110W2024 2,000 2,000 4,IXJO 4,000 4,000 4.000 4,000 3,000 4,000 6,000 2,000 [11 Heotofs House Cat ResGuo Moo Haven Whitby Wildlif• Sanduary Bordar Coll1& Rascua and R8habllE1l0n CBntra RSPGA Mld Norfolk and North Suffolk Cats In Dlslres8 Hugg FaundAllon Qor15 B8nham Sanctu&ry Woodland5 AnEthal Sanotuary Tod(els Animal San¢tuary RSPCA Warrington. Hatton and St H8len$ 2910412024 29104t2024 2910412024 2910412024 29104r2024 2910412024 291(MJ2024 2910412024 8,000 4,0(70 4.000 7,SOD 5,000 5,000 6.SOO 15,OQQ 10.000 5.OlJO 7.000 2910412024 29104r2024 Paga | 16
THE JEAN SAINSBURY ANIMAL WELFARE TRUST N(IfE8 TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2024 GRANTS PAYABLE Icontlnued) Cardlff Dogs Home Rescue Soclety lor the N8'utsrlng of18llnglon'$ Pu8StéS Swan Ufollne Inlerlm Newc88tto Dog & Cat Shaltar Calthness S881 Rehab and Release The Fox ReUer$ F•lino Fur 8abi&s Noth W8l&s Pdckles In a Plckle 0910512024 2310712024 23107r2024 2310712024 2310712024 2310712024 2310712024 2310712024 2o7j2024 2610712024 08IQ812024 0610812024 06108r2024 0610812024 OelQ812024 06108f2024 0910812024 0310912024 0310912024 20.000 2,000 2,000 5,000 2.000 2.000 3,000 3.000 RSPCA Bedfordshira North Cal Watch Rescue ShBlter 88nbury Anlmal Re8¢Ug & KlndngsB (BARK8} Jackson¥ Anlmal Roscua Refuge4Pel$ Sldmoulh Anlmal Wgffayg ARC Harper Asprèy WIldl0 R•sou8 Rain Réscue Floof - UK French Bulldog Re8Gue Cavallfrrs In Need Bulldog Re8¢uo and Rohomlng UK WaGgy T8118 R8scue Anlmals In D161re6s Cetscaan R888arch & R•8cu6 Unlt 2,000 5,000 4,(Y)O 5.CKIO 3,000 3.000 5.000 5,000 s,000 10,000 5,000 s,000 io,ooo 6,500 5,000 10,000 10,000 5,000 4,5 5,000 8,000 2,000 4.000 3,000 4.000 4,000 4,000 3,000 2,000 2,000 3,1KJO 5,000 5,000 0310912024 0310912024 0310912024 0310912024 03J09f2024 03109r2024 0310912024 0310912024 0310912024 0310912024 03109rI024 1211112024 1211112024 1211112024 1211112024 1211112024 1211112024 1211112024 WADARS Anjmsi R55CLWt Chahty North Clwyd Animal Brant Lodge Blrd and Wlldllfa Trust The Frogllfe TN8t Paw7 for Thought RSPCA Mlddlewx, NW & South Harts Branch The 13 Trust Anlmal Ald UK Cat£hlng Roxlgs Re¥Gue Daybroaks Trust Frenchie & Fr18nd8 Foundatlon Happy Staffle Règcuè Raven8 RwdCUO UK Rabblt Rescue North West d Hcgs H&dgeho9 R8$0 Prevent Unwanted:Pets Fylde Coast Btanch Hor¥e Sense Wlrral Idlewlld Anlmal San¢tuary 1211112024 12JI132024 12111r2024 1211112024 1211112024 Pugo11,7
THE JEAN SAIN8BURY ANIMAL WELFARE TrtUST NOTES TO THE FINANCIAL STATEMÉNTS FOR THE YEAR ENDED 31 DECEMBER 2024 GRANT8 PAYABLE1ontlnuedl Dat• RSPCA Bury, Oldham & Dlslrict Branch South ol Scotland Wlldllf6 Hospltal IIART Wlldlife Rescue Th8 Frlends of Assi$l Animal Sanctuary Amo8t Home Dog R88cue Ba1108 Dog Rescu• Cal Wolfom Group ri8 Greyhound LurcherRe$cu8 3 IR8 Horso Rescuo Centr8 Marfas Animal Sheltsr Comwall Animal Hospltal Charlty Freshfields Anlmal Re8cJJo Royal Votsrlnary Collage 12111124 12111r2024 1211112024 1111212024 1111212024 1111212024 1111212024 1111212024 1111212024 1111212024 1111212024 1111212024 11112rd024 3,0 4.000 7,000 5,000 5,000 4,0th) 7,5LK) 8,oiJO 10,000 5,000 6.OOQ 10,¢JQO Grnnts to UK ¢harttl•8 wortlng ov•r••a•: riger84Evar Car84Cats Iblza TOLFA Chadty Sumatran Orangutsn Socièty Tahlra Anlmal Welfar6 Foundation Helplng Rhinos World Anlmal Frfends Kotor Klttl69 GlotJ81(ee¢. PAWS HAT Cgntrg UK Paxos Anlmal Wellara Sodety 1310312024 1310312024 13103tt024 2910412024 29104r2024 29104tt024 23107tt024 0610812024 06f0812024 0610812024 06108r2024 4.0¢)0 5,000 10.000 10.000 s.000 17,000 3.000 4.1)00 3,aoo 3.OCN) F 11 Souihem Thalland Elephant Foundation ISTEF} Frlends of Intl Wara Yassl Pipal Tr88 Ralnfor88t Concem Soi Dog Foundallrjn Anlmd Sholtsr Agonda IAPWA 0610812024 0310912024 0310912024 0310912024 0310912024 1211112024 1111212024 1 IJIW2024 1111212024 1111W2024 5,0(M) 5,000 10,000 7,3Crf) 7,000 2,000 7,500 90,000 10,0 15,0) Wecare Wortdwlde Four Stgps lo Freedom 561,300 A8 at 31 D8cember 2024, th& Twst 81s0 had oul$t#nding pledges to Gh?rlll65 totalling £40,0 {2023'. £67,500). Theso pledge8 are not gelty blndlng and are con¢lllon upon Ihe Tru8teeg boin9 sallsled that certaln condlllons have beon mgt by th6 proposgd dtyTr88s ond, a$ such, have not ba¢n provlded'in Ih888 aeeounts. SUPPORT cosrs 2024 2023 Staff 319 (note 81 Other 40th Annlvers8ry Event Dgpreclatlon of tangible flxed a6sets Audlt and accountancy fv8S Audit fee Flnanclal statemants pr8paraiion fe•8 Other accountafw fees Prlor yoar Under-oTUal 32,588 28,895 39.403 32,112 4,963 5,800 5,T18 9,240 3.600 754 8.400 3,600 600 104 8Q.795 94,982 Pag8 | 18
THE JEAN SAINSBURY ANIMAL WELFARE TRUST NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2024 STAFF COST8 2024 2023 Solarigs and waggs Othèr pen81Dn cosi8 32,044 544 39,019 384 32,588 39A03 Tho #varaga numbèr of fiill_tlmé &qu91nt omploy8èÈ durlna thè #r waÈ 1 (2023,. 2) wlth all amployoa tlmu Involved In provldlng elther supp lo the goveman¢o of tho charity or 8UPPOrt seEwEca8 to chArftsbl& actlvlU8S. No emptye88 had employéè bonefits In exe8 of £80,000 {2023: nlll. Tru•teos' remun•ratlon and exp•n6 The key managem6nt Por8onno1 comwlse the Tru81ee8 who rece5ved no romunoTatbn or other flnanrlal benefit5 durinu the year12023: nll). 7 olthe tFU8t8tr8 {2023.' 71 were reimbursed a total of £2,491 12023.. £2.319) ft)i exp6nsa8 In relatlon to travel costs. TANGIBLE FIXED ASSETS L••8•hold prop•ity Jnd lrnprovom•nt• Fumlturé, . xtur•* and •qulpm•nt TotAI COST Al l January 2024 Additions 018po¥al8 1,275,419 35,213 1,951 {2,515) 1.310,632 1,951 {2,515) At 31 D8¢8mb8r 2024 1,276,419 34,649 1310,068 08PRECIATION Al 1 J8nu8ry 2024 Charge lor y08r D15posal¥ 51,570 5.254 32,795 464 (2,168) 84,365 5,718 {2,168) At 31 Decembar 2Q24 56,824 87,915 NET BOOK VALUE At 31 December 2024 1,218,595 3,559 1322,154 Al 31 DererftsT 2023 1,223,849 2,416 I,2,27 A valualon of Ihe propety was caffiod out In 2022 whlch e0nflrn that the ¢urr8nt valuatlon w88 not materialty diffèrtsnl from book cost. Page119
THE JEAN SAINSBURY ANIMAL WELFARE TRUST NOTES TO TrIE FINANCIAL STATEMETr¥rs FOR THE YEAR ÉNDÉD 31 DECEMBER 2024 10. FIXED ASSET INVESTMENTS 2024 2023 MARKEf VALUE At 1 January 2024 Adillon6 D18posals and lun¢ts used from portfollos Net galn11058) in the yoar 26,200,219 6,419,1)08 (6,27e209) 2,349,351 23,227,625 2,850,659 12,809,219) 2,931,254 At 31 Dècembor 2024 28,692,369 26,200,219 Comprlslng: UK equldas Overseas equitie8 1,310,594 14,365,398 5,105,997 6,429,590 795,133 685,857 1.555.354 11,991,386 4,751,278 6,166,561 799.602 936,Ir38 Global fund8 Propety fvnds Olhor Quoted Inveslments al markgtvalue 28,692,369 26,200,219 Cash balanca8 h8ld withln the Inve8tment portfollo 618,584 1,115,149 Tolal llx¢d u••t Inve8tm•ntB 29,310,933 Zl,315,308 8alan¢e$ held by.. Rathbon8$ Whi 7,222,900 22,088,033 8,76&884 20.551,484 29,310,933 27,311368 Cost of listed pothlEo 28,717,288 24,658,439 10. FIXED ASSET INVESTMENTS {contInd) The cfjarity's Inveslm6J)ts In each of the fr)Iton9 r8pr958nted mtye than 5% th8 managed portfollo al Ihe ye8fwend'. Fundsmlth Su8talnable Equlty Fund Edgewood Select US 2,989,944 2.290,381 1,528,324 2,143,768 2,399,568 1,448,038 8rown Advisory Funds US Polen Capllal Investment Funds PLC Focus US Vontobel Fund Twentyfour S1 Short Torm 11. DEBTORS 1024 2023 Pr8paym8nts 921 740 921 740 12. CREDITORS: Amounts falllng due wlthln one year 2024 2023 Page120
THE JEAN SAINSBURY ANIMAL WELFARE TRUST MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 soclal securlty and othor tsxes Penslon Ilablltti8S Accfued expens85 Other credlto 1,059. 1.706 124 63,142 67.307 878 64,972 13. ANALY818 OF CHARITABLE FUND8 Balanco bllwd In¢om• Expèndlturn Galn& and Lo8801 Fund Cllwd Unr8$trfctod fund$ Ggnaral fvnds 28,543,872 506.468 18S5,935) 2.349,371 30,543,774 TOTAL FUNDS 28.54672 506,466 [855,935 2.349,371 30,543.n4 The urwB6lricted fund8 are evailable to be spant for any of tho purposes of tho charity. Page121
THE JEAN SAINSBURY ANIMAL WELFARE TRUST NOTE8 TO THE FINANCSAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 14. RELATED PARTY DISCLOSURE8 During Ihe year payThents of £1.539 (2023: £828> wèrn made to Thè Medlvèl Group Llmit8d (of which Mr Mark Spurdens 16 8 Branch Partner) to cover Ihe cost of a locum Vètnary 8Ury8on his attond8nGe at two m8n8gement n)oèttn Ttt8ro were no balar@S outstsTKllrrfJ at tho ygar4nd. Duklng the year, JSAwf Property Ltd wes Incorporated and Its sole purpose 19 to hold tha propety beh8lf of th6 Tnjsl. 15. RECONCILIATION OF NET CASH (USED IN) OPERATING ACTIVITIE8 2024 2023 Net Incom81{10g$>for tho reporJng perlod I1. Investmont galns 1,999,902 ,13l151 Inl8r881 and dlvldénds IGginsyLo8595 on Inv88tm8nts Inveslmont management fees pald dlrgctly of Inv8slments Dgproolation {Inffoa88) I decrease In debto Increa8el (dacr888&1 In craditors 1505.6791 (2,349,3S11 (427,2381 12,931,254) 213,840 5,718 1181) 4,272 202,839 5,800 {351 4,640 {B31,479) (1.009.097) THE JEAN SAINSBURY ANIMAL Y4ELFARE TRUST Pag• | 22
DETAILED STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 DECEMBER 2024 INCOME 2024 2023 Don•llon8 and l?g•cl• Donations Legades 376 Inv8#tm•nt Ineom• Dlvldends and Inter8È1 recelved on Inveslmant portfo150 505.679 427,238 Oth8r Incomo 324 Tot81 Incomlng rn•ources 506,486 428.219 EXPENDITURE Imie8tmMt managwnont ¢o$l• Portfollo managent 213,840 202,839 213,840 202,839 Chat1t•b a¢llvltl•8 Gr8nts to Institution$ 561,300 925,500 Support co•t• Wages Pen8lons 32.044 544 39,019 384 32,688 39,403 Other •upport £08ts rTU8t806' ¢OSt8 Tiavelmng 8wDnse8 T•lephone and fax Prfnting, pog18ge and statlongry Sundries Rent. rates and servlce r*arg8 Light ond heat Insuran¢e R8pairs. rénewo18 and malnténanoe Cl8anlng Payroll bureau seNlce6 Legal 8nd prof88$1onBI ank charo88 Depreciation Audit and accountancy feg Computer c08ts annlv8r89ry 8vents 4,030 3,147 158 T,029 818 1,492 9.846 1,032 1,093 6,253 8,631 1,163 31 125 753 3,692 142 5.718 12.840 2,937 600 157 5,800 12,104 4,291 4.963 48,207 55.579 Total resources expvndod 855,935 1.223.321 N•1 {?xp•ndltur•) bfrftir• gafns and 10s¥08 Pl.9,449) ff95,f021 Page123
THE JEAN SAIN88URY ANlhlAL WELFARE TRUST INCOME ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Incorn• Donatlons and Igy¢h8 Donations Legacy (allocated In th& capllal a¢unt} 483 375 Invo8tm•nt Incom• Inv8slmnt income 505,679 427,238 Olhor Income 324 606 Total Inéom• 506,486 428,219 Expgndltur• Investm1 management fe88 (50%) 106,920 101,420 Charftabl• 4GllvlllM: 561, 925.600 Other r•lated ¢o•ts; Admlnlstr8torn' salary ¢08t Trustees. ¢o$ts Travelling expen8as Telophono and fax Printlng, postsge and 8talonery Sundrl&s Rent, rates and 80rvlc• chgrg88 . 32,588 4.030 39.403 3,147 158 1,029 818 1,492 9.648 1032 1,093 6,669 682 600 1,900 157 5,800 12,104 4,291 4,963 8,253 8,631 9Q8 1,163 31 125 753 3,692 142 5,718 12,840 2,937 In8ur8n¢o Repa1, renewals aTrJ malntonanca Cle8nlng Payroll burnau 8ervlGe8 Legal and profe8pAonel Bank charg99 Depreclallon Audit and accountanGy fe98 Computer costs 40th Annivor88ry Ev•nt 80,795 94,982 Totsl •Xp•Trdlrn 749,015 1,121,902 Nèt (outgolng).rè80urc¢s (242,520) 1693.6831 Fund brought fprward 11,QOO,e23) 1312.940> Fund rrfed Tonvard 11.249,152) (I,ODB.623) Thls pag8 dc*s not form part of th8 Statutory fin8nclal 81atements Paga | 24